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2025-03-31-accounts

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Helen MacNamara, Chair

Home is everything. A safe, secure, affordable home is the foundation on which so much else in life is built: health, happiness, safety, a sense of place, and an ability to work and study.

I couldn’t be more thrilled to have joined Shelter as Chair. No organisation has done more than Shelter over recent years to drive political recognition of the housing emergency; support people affected by the crisis with advice and legal support; and champion solutions such as stronger renters’ rights and the building of more social homes.

However, Scotland and England’s housing system is unfit, unaffordable and unjust.

Shelter exists to defend the right to a safe home for everyone. Over the past three years, under our 2019 - 29 strategic plan, we’ve brought England’s housing emergency to the fore of the nation’s political debate, and fought for and won key legislative and system change.

This year, in England, it was Shelter that secured improvements to private renting in the Renters’ Rights Bill – including the commitment to end Section 21 ‘no fault’ evictions. Our research and case studies are repeatedly cited in parliamentary debate.

In our strategy, we’ve made the case for the introduction of a new Social Housing (Regulation) Act to pave the way for better regulated social housing. We’ve campaigned for the end to ‘hope value’, unlocking more land for social housing. We’ve campaigned throughout the strategy for increased investment in social housing. Now, we’re seeing the impact of that campaigning, with the government announcing in its Spending Review shortly after the end of the year that they would put record investment into housing, and focus on social rents”.

Over the past three years, we’ve brought Scotland’s housing emergency to the fore of the nation’s political debate. By the end of 2024, 13 Scottish local authorities had declared a housing

emergency and committed to work with their communities to take emergency action.

In May 2024, the Scottish Government declared that the country was facing a housing emergency, and promised to work with our supporters, especially on the plight of children trapped in temporary accommodation. At the UK’s general election in July 2024, every party that returned an MP agreed that Scotland is in a housing emergency and placed housing rights and social housing supply at the heart of their manifesto.

In every room that matters, we’re making sure that people experiencing homelessness and housing hardship are being heard, in places and on platforms where we can make the biggest impact.

Everything we’re able to do is because of the generosity of our supporters, the tenacity of our clients, the activism of our campaigners and the professionalism of our teams. We stand together and have started to make important steps towards a better, fairer housing system. But we’re only at the beginning of making the system work for everyone. We have so much more to do to build on our progress and secure real and lasting change.

I’m proud of what we’ve achieved in our strategy so far, and our efforts in the last year. For this, I’d like to thank Polly Neate CBE particularly for her seven years of outstanding service as Shelter’s CEO, and also my predecessor as Chair Helen Baker for her six excellent years and her support as I transitioned into this role.

I’m also proud of where we’ll make a difference next, with our incoming CEO, Sarah Elliott. In 2025 – 29, the final part of our 10-year strategy, we’ll put renewed focus on three strategic goals:

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housing emergency is fuelled by deep injustice and discrimination. We can protect more people by improving housing rights in general and supporting people in their everyday battles to enforce existing rights.

Build a coalition to secure longterm change. We can’t achieve our strategic goals alone. Making the change that’s needed will be a team effort. We need people and organisations to join us, locally and nationally.

With the support of our partners, donors and campaigners, our staff and volunteers will work alongside other organisations, communities and the people most affected by the housing emergency to co-produce solutions and actions.

Across all three goals, we‘ll continue to put anti-racism, equity and inclusion at the heart of our decision-making. We’re well placed to use our platform to continue building a powerful movement for change that decision-makers can’t ignore.

a safe and secure home for everyone.

Helen MacNamara, Chair of Shelter

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What is the Housing Emergency?

Shelter was formed in 1966 in response to the country’s massive housing crisis. Shelter’s founders wanted to establish an organisation that stood up for the millions of ‘hidden homeless’ living in overcrowded slums. They understood homelessness as more than just people sleeping on the streets. They recognised that homelessness included those living without a permanent home, in poor conditions and in precarious situations because of insecure tenancies or unaffordability.

The housing crisis has become an emergency, affecting millions of people who are denied their right to a safe and stable home. That includes thousands sleeping on the streets on any given night and over a quarter of a million people stuck in temporary accommodation. It also encompasses millions more living in overcrowded, dangerous, unfit or unaffordable homes.

The housing system is broken and biased. Successive governments have failed to provide the good quality, stable social housing people need, leaving millions shut out and struggling to find a secure home. People are crammed into unsafe housing – places riddled with mould or damp that makes them sick. Private renting lacks regulation, leaving renters facing insecurity, living with the threat of unfair eviction and unsustainably high rents. And when people do struggle, our welfare system is too weak to support them.

What we do

Shelter exists to defend the right to a safe home. Every year, we help those who are struggling with bad housing or homelessness through our advice, support and legal services. We campaign to make sure that one day, the right to a home exists for everyone.

Key objectives

Shelter was set up in 1966 to:

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Our Strategic Plans

In 2019 we committed to a 10-year strategy designed to transform Shelter and the housing system. We recognised that the only way to end the housing emergency was to secure real change in the housing system, at both national level, and in with the frontline practices that determine whether policy is delivered effectively, or not. That strategy is being delivered in three strategic periods, and 2024/25 was the final year of the second strategic period – (2022 25). Our plan had three goals:

A new generation of social homes. Building a broad public movement to demand a much-needed new generation of social homes, ensuring those who need it have access to access a social home.

Housing rights – right now. Equipping individuals and communities to fight housing injustice, strengthening everyone’s housing rights and ensuring People of Colour have increased access to a safe home.

A shift of power in our fight for home. Placing lived experience of homelessness and anti-racism at the heart of Shelter.

us before, and those new to the organisation, to consult them on what the organisation should do in the fight for home.

This work resulted in our strategic plans, with the below goals set for 2025 - 2029:

Demand and secure a new generation of social homes. The lack of social homes is the root cause of the housing emergency and building more social homes is the only sustainable solution.

Strengthen and enforce the right to a safe home for all. The housing

emergency is fuelled by deep injustice and discrimination. We can protect more people by improving housing rights in general and supporting people in their everyday battles to enforce existing rights.

Build a coalition to secure long-term change. We can’t achieve our strategic goals alone. Making the change that is needed will be a team effort. We need people and organisations to join us, locally and nationally.

You can read more about our strategic plans on our website, where there is much more detail for both England and Scotland.

Our Future Plans

2025 - 29 is the final strategic period, where we’ll build on our achievements over the past six years. We’ll evolve our approach in response to all we’ve learned so far, tackle new challenges and capitalise on opportunities. We’ll continue to focus on delivering lasting structural and systemic change for everyone affected by the housing emergency, and ultimately end it for good.

In developing our new strategic plans, we placed the insight of those with lived experience at the centre of our planning process. We set up a Co-design Group, made up of people who had worked with

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A new generation of social homes

Social housing has historically been a key part of a housing system that relies on different types of homes to buy and rent. And so the failure to build social homes has caused problems throughout the system. These include:

Declining rates of home ownership , as rising rents leave most private renters unable to save towards a deposit.

As more people are exposed to homelessness due to the cost-of-living crisis, social homes are the only permanent solution to the housing emergency. We’re campaigning in England and Scotland to bring about changes to law and funding to ensure there are social homes sufficient to house families and end the housing emergency.

In England

With a potential change in government on the horizon, our focus this year was to win influence and drive legislative progress. We aimed to change the way social housing was managed, and get more homes built.

General election and first 100 days

Our work started with the general election. Our focus was to encourage

parliamentary candidates and political parties to commit to building 90,000 social rent homes a year. We contacted candidates in every single constituency, holding three housing-specific hustings, pushing to get housing on the election agenda.

Once the new Labour government was announced, we launched a campaign encouraging ministers to prioritise ending the housing emergency in the first 100 days of power. This was a broad campaign, with asks on renting and welfare, and specifically a call to end the right to buy for social and council homes. We developed and released our seminal Brick by Brick report to support this call, showing how to get to 90,000 social rented homes built annually by the end of this parliament.

The new government

Our initial work proved successful. The Right to Buy scheme was reviewed and, following a consultation we responded to, it was reformed to reduce the number of social homes lost to private ownership and not replaced.

Although the government has set a target for the number of social rented homes in the Social and Affordable Homes Programme, it has not set an broader national target. Our calls for minimum proportion of social rent homes on every housing site have also not yet been adopted.

Leading up to the government’s Spending Review, published in June 2025, we pushed hard on the issue of funding. We launched a mass marketing campaign calling for investment in social housing that reached over four million people, thirty thousand of whom joined our campaign. We bolstered this with parliamentary events to highlight to decision makers the benefits of social housing investment, working with expert economists.

In March, due to our work with others, the government injected an additional £800 million and brought forward £2 billion into the current Affordable Homes Programme. We’ve seen the impact of our work continue after the end of the year, with the government Spending

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Review funding £39bn of investment into new homes. We’ll continue our campaign so that we can ensure this funding prioritises homes for social rent.

In communities

Our local hubs campaign to support Shelter’s national aims for the building of more social housing. In Merseyside, a region with 5,351 empty homes, our hub developed a film to use in local campaigning. This imagined a future where just one of these homes was occupied once more, projecting images of a family going about their daily lives onto the boarded-up windows.

In Scotland

The right to housing exists in Scotland, but the supply just doesn’t make that right able to be met. Scotland has worldleading laws that are broken every day. We see rising homelessness, unaffordable rents, and a severe shortage of social homes. Successive decisions by the Scottish Government have been made to cut investment in the housing capital budget.

Housing emergency campaign

This year, our National Housing Emergency Declaration campaign mobilised thousands of people to confront the housing crisis. It led the news agenda, secured cross-party political support, centred lived experience, and reversed damaging budget cuts.

The campaigning pressure resulted in the Scottish Government’s first-ever national housing emergency declaration in May 2024, with similar declarations from 13 local authorities. In Aberdeen, our Community team drove extensive engagement with council officials, sector partners and supporters. Their efforts – combined with powerful testimony from Shelter Scotland client Ryan at a council meeting – led to a unanimous crossparty housing emergency declaration in September 2024.

felt like I'd lost myself.’ Ryan, Aberdeen

Cross-sector coalition

This momentum laid the foundation to push for concrete policy development. In June 2024 Shelter Scotland convened an unprecedented cross-sector coalition that agreed a National Housing Emergency Action Plan with four priority areas:

  1. Increase supply of social homes.

  2. Maximise the use of existing homes.

  3. Fund local homelessness services.

  4. Maximise affordability.

Widely cited in parliament, the plan has become the key yardstick for the Scottish Government's emergency response.

Reversal to affordable housing budget

In December 2024, the Scottish Government announced its 2025 – 26 budget, reversing the previous year’s £200m cut to affordable housing and confirming a £768m investment in the Affordable Housing Supply Programme. – This will deliver at least 8,000 homes contributing to the target of 110,000 affordable homes by 2032.

We and others across the housing sector welcome this reversal and investment, and we’re proud of what our campaigning has achieved. However, while these developments undoubtedly represent progress, they still fell short of the transformative action urgently needed.

Scottish parliamentary elections 2026

In Scotland, we’re heading into the most important moment in the political calendar for housing – the 2026 parliamentary elections. This presents a crucial opportunity to increase support and secure commitments to build more social homes, and this will be our key focus for next year in Scotland.

‘Each time the council refused to put me in suitable temporary accommodation was detrimental to my mental health... I

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Housing rights – right now

Major changes to housing rights haven’t kept pace with changes in the housing system. Home ownership and the number of social homes has fallen, and there has been a significant increase in the number of households renting privately. This dramatic change has left more and more families struggling with damaging levels of instability and high housing costs. While rents have increased, wages haven’t kept up. Private renters have on average the highest weekly housing costs. While the low-regulation private renting market creates flexibility, that simply means insecurity for huge numbers of households. Those renting privately struggle to save and often live under the constant threat of eviction as contracts and tenancies provide no long-term security.

Campaigning in England

General election

In addition to our demands on social homes, our Vote for Home manifesto, co-developed with people with lived experience, set out three further asks:

  1. Make renting affordable.

  2. Raise standards in rented homes.

  3. Strengthen housing rights.

Renters’ rights

After the Renters’ (Reform) Bill failed to pass before the general election, Shelter and the Renters’ Reform Coalition campaigned for a new, stronger bill (the Renters’ Rights Bill) under the new government.

This was introduced in September 2024, and includes significant improvements on the previous bill that we campaigned for, including (but not limited to):

While the bill progressed through parliament we continued to push with our supporters for further improvements, including campaigning on rent stabilisation and limiting when landlords can request a guarantor. The bill is expected to be passed into law in 2025 and will constitute the largest changes to the private rented sector since the Housing Act 1988.

Campaigning in Scotland

Empty homes helping to address Scotland’s housing emergency

This campaign highlighted the urgent need to end the housing emergency and housing proved to be a key issue that featured in party manifestos. For example, the Labour manifesto committed to ‘the biggest increase in social and affordable housing in a generation’ while the Liberal Democrats set a target of 150,000 social rented homes a year. Similarly, all major parties once again committed to the abolition of Section 21 (also known as ‘no-fault’ evictions) and a new Renters’ (Reform) Bill.

The Scottish Empty Homes Partnership (SEHP) is funded by the Scottish Government and hosted by Shelter Scotland.

The SEHP’s remit is to support the Scottish Government’s commitment to bring empty homes back into use as affordable housing. This can be a quick and cost-effective way of increasing housing supply and can play an important role in helping to address Scotland’s housing emergency.

The partnership has achieved a record year, contributing to nearly 11,000

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privately owned empty homes returning to use since 2010. Now working with 27 of 32 local authorities, the SEHP team supported councils including Edinburgh and Dundee to integrate empty homes into local Housing Emergency Action Plans.

Empty Homes Officers have reported that 18 local authorities have an empty homes acquisition scheme or buy-back to meet the demand for social housing.

Our services

We deliver direct services across England and Scotland, which inform and enhance our campaigning as well as supporting people impacted by the housing emergency.

Telephone and online advice services (TOAS)

Our greatest reach in England and Scotland is through our advice services. Throughout the year, 7,985,612 people accessed support and guidance through the website, 27,909 through webchat and 29,934 by phone.

We achieved significant impact but unfortunately, we haven’t got the resources to support everyone, with around three hundred thousand calls going unanswered. This is just one manifestation of the scale of the housing emergency and a demonstration of why we are campaigning for systematic solutions.

In England, we worked to try and tackle this situation by implementing a triage system that prioritised webchat requests flagging genuine emergencies. Following this new process, the proportion of emergency chats increased from 53% to 65%.

We’re as concerned about the quality of our support as we are about reaching as many people as possible. This year, we adopted a revised approach to quality monitoring of calls and chats to understand the accuracy of advice and the customer experience, including considering complaints. We were assured of the high quality of our service

but identified some improvements that we‘ll work to implement.

In Scotland, we’re similarly assured of the quality of our service delivery, with 85% of clients achieving positive outcomes. This included supporting 1,207 people to uphold their legal rights with councils, achieving a positive outcome in 60% of cases.

We‘re seeing an increase in the complexity of cases and the length of time people need our support, and we’re responding by increasing our staff training and development.

Spotlight: Supporting mothers to find homes

When Emily contacted the helpline, she was eight months pregnant. Emily had previously fled domestic abuse from the father of her baby. She was living in unsuitable private accommodation and had approached the council for help. The local authority didn’t consider Emily to be homeless, despite the state of her accommodation. On this basis, the council decided that although it had a duty to help Emily, it didn’t have to do so immediately.

Our adviser wrote to the local authority arguing that Emily was homeless. He reminded them that they should be providing Emily with emergency accommodation immediately while they made enquiries to help decide what duty they owed her. Our adviser also liaised with social services to make sure they were aware of Emily’s situation.

Due to our intervention, Emily was provided with accommodation, and the local authority has now accepted a full housing duty towards her. This means it will provide her with permanent, suitable accommodation.

Advocacy and strategic litigation

In England and Scotland, we continue to operate legal support to both ensure that individuals’ housing rights are protected and to set a precedent

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through strategic litigation interventions.

England

During the year, our litigators and legal advisers worked with 5,809 households in England. Of these, 3,984 came through our court duty schemes. With continued high levels of bailiff evictions, demand is increasing.

A total of 4,219 of the legal cases closed last year resulted in a successful outcome for our clients, ensuring and continuing the strategic aim of our fight for home.

While we fulfil our duties under the Legal Aid scheme, these are insufficient to meet the costs of our delivery and do not fund our strategic litigation work. As such, donors funded £1.23m of our legal services’ direct costs in England.

Scotland

Our litigators and legal advisers worked with 285 households in Scotland. Of the 223 legal cases closed last year, 204 resulted in a successful outcome for our clients.

We focused on litigation where we could make a strategic impact. In 2024, Shelter Scotland intervened in the case of Glasgow City Council vs X at the Supreme Court, where the requirement to provide suitable temporary accommodation was being argued.

By intervening in this case, led by the Govan Law Centre on behalf of their client, we hoped to guarantee that all families experiencing homelessness would have their need for safe and appropriate accommodation met at every stage in the homelessness system.

However, the Supreme Court ruled that Scotland’s homelessness legislation only requires a family’s full needs to be met when permanent accommodation is provided and not necessarily while they are in temporary accommodation.

While we‘re disappointed by the ruling, we welcome the Supreme Court’s recognition that the suitability of temporary accommodation must be kept under review and that councils must consider all aspects of a household’s needs when assessing suitability.

In another case, RT, a transgender refugee, became street homeless after receiving her settled status. After our adviser helped RT apply as homeless, she was wrongly deemed not in priority need. The council refused to reconsider.

The Strategic Litigation team intervened with urgent legal action. Within 24 hours, interim accommodation was provided. Though the council initially upheld its decision, further legal pressure led it to accept the housing duty.

After further advocacy, RT was moved from unsafe shared housing to a place she loves. One support worker wrote:

‘She is absolutely thrilled… She was telling me about her plans to plant flowers in the garden outside her room.’

The team continue to challenge poor practice in refugee housing decisions and is exploring judicial review against a local authority with repeated failures.

Community teams and training

England

Our community-based teams in England deliver a range of services across our 11 local hubs: housing advice and advocacy; rights awareness work, including workshops with local groups and communities; and campaigning and influencing activities.

For example, over the last 12 months, our North East hub has been working with a local community, carrying out targeted advice with a small number of residents about their experiences of damp and mould. This uncovered a far bigger problem spanning over 80 homes.

The team gathered information and insight from the wider estate to understand if they too were impacted by the same poor housing conditions and their negative experiences of working with the local authority to resolve them. The team set up a stall in the cul-de-sac and spoke to more people.

Funding from the Barbour Foundation enabled the team to commission an

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independent survey of four homes, bringing people’s experiences to life through case studies and videography. The team presented their findings to the local authority’s Director of Housing.

The council committed to bringing all the properties up to standard, agreeing to all our asks, and to extending the work to over 80 properties impacted.

In our Training team we continue to refine and enhance the advice we provide to clients and housing sector professionals. We’ve delivered 2.3 million sessions to professional audiences.

Supporting the sector to make better decisions remains a key element of our goal to fight housing injustice. During the year, we delivered training courses to more than 57,000 delegates, averaging eight training sessions per day, with 31% of all courses being focused on homelessness.

Our expert advice services dealt with more than 16,000 enquiries from professionals, helping them improve their own knowledge and achieve better outcomes for their clients.

Our key focus for next year is to ensure that our content supports both people seeking advice and the sector as legislation changes with the implementation of the Renters’ Rights Bill.

Scotland

Shelter’s work varies across our Scottish offices. In Edinburgh and Glasgow, our teams responded to systemic failures in the homeless system by engaging with council officers on practical issues. Meanwhile, in Dundee, we uncovered serious gatekeeping practices that partners are now working with us to address collaboratively.

clear: we will not stand by while councils look to undermine legal housing rights.

Crucially, our work has helped to change lives – like that of Stacey, a mother facing eviction, whose outcome changed thanks to our intervention.

‘We usually go to my mum’s [for Christmas] but this year we got to spend it here. It was the first time we got to set up a table and it was really lovely.’

‘It still doesn't feel real. I still wake up every morning thinking, what’s the next fight, where are we going next. And then I realise’.

Our West Scotland team worked with the Scottish Refugee Council (SRC) delivering homelessness rights workshops and support to their teams. SRC told us that their team gained the knowledge and confidence to deliver more than 3,000 client interactions on homelessness rights in 2024.

‘ The partnership has been successful and beneficial. It has been invaluable in getting positive outcomes for some of our most vulnerable people’. Sc ottish Refugee Council

Training and capacity building efforts reached across Scotland through the Housing Law Advice Programme, which engaged 219 learners from 43 organisations, covering nearly half of Scottish council areas. Additionally, 562 people from 30 organisations attended our housing workshops, while community teams delivered 81 capacity building workshops to community audiences totalling more than 900 people.

In December 2024, Shelter Scotland took unprecedented action by urging Scottish ministers and the Scottish Housing Regulator to intervene after the City of Edinburgh Council voted to remove the right to suitable housing from homeless households. Our staff protested outside the City Chambers, making our position

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2024/25 in numbers

In the last year, we supported more than 20,000 households through our emergency helplines (16,721 in England and 3,796 in Scotland compared to 15,975 and 4,259 in 2023/24). Of those calls:

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brackets brackets
Previous year in Previous year in
England Scotland
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57% (55%) 42% (32%)

were homeless or at high risk of homelessness

42% (42%) 29% (38%)

were in the private rented sector

21% (27%) 16% (23%)

wanted to keep their current home

22% (27%) 29% (18%)

needed temporary accommodation

10% (12%) 8% (11%)

were seeking to improve their circumstances by leaving their current home

56% (57%) 47% (56%) 33% (32%) 27% (30%)

were female

had dependants

We had 27,909 webchat conversations during the year (17,592 in England and 10,317 in Scotland), an increase of 2,007 on last year’s numbers.

Our teams of lawyers, legal advisers and support staff worked with 5,224 households across England and Scotland, up from 5,020 in 2023/24. In England, we saw 4,950 people through our court duty schemes, up from 3,459 in 2023/24.

Our community-based teams helped 14,851 households (13,130 in England and 1,721 in Scotland). Our specialist services for professionals responded to 16,796 queries from other organisations needing our housing expertise. In 2023/24, these figures were 13,469 households (12,203 in England and 1,266 in Scotland) and 16,293 queries.

Our Justice Services supported 4,974 people in custody and in the community with their housing needs. In 2023/24 this figure was 3,654.

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Shift in power

Our 10-year strategy is founded on our community-based teams becoming catalysts for change. They’ve moved away from simply being advice centres to places that galvanise local activism and address systemic causes of homelessness and housing insecurity.

This move to a systems-change model is a response to the growing demand for our services. Shelter cannot meet all the need we see, and if our services remain only demand-focused, we risk papering over the cracks of an unfair system. Our impact is greater when we’re challenging and fundamentally changing housing systems.

Our teams continue to work with individuals, and through that work we gain an understanding of the complexities and systemic inequalities at the heart of the housing emergency. This results in us being better placed to link lived experience, community voices and frontline knowledge with our national campaigns, drawing on evidence, insights and ideas from across our hubs in both nations.

Informing our approach through research

England – Race in Housing Research

We worked with the charity brap to speak to more than 300 Black people and People of Colour to understand their experience of our services in England.

We found that many participants were unaware of the full range of Shelter's services and that Shelter can be perceived as distant, formal, and not tailored for diverse communities. For example, the experience of using Shelter’s digital and phone services was mixed. There was praise for tools like the webchat for being helpful and efficient but text-heavy online advice pages were found to be frustrating, especially for people who speak English as a second language.

Feedback also included a feeling of disrespect when we don’t pronounce people’s names correctly, or don’t offer the chance to tell their story. People said we could do more to show that we’re challenging public bodies’ attitudes and to speak up for Black people and People of Colour when they experience poor treatment from a landlord or local council.

Brap’s recommendations were to:

  1. Spend time building links with local groups to help communities of colour learn more about Shelter.

  2. Review our service offering to better deliver what Black people and People of Colour need and want.

  3. Give staff time to think about how they treat clients and handle cases.

  4. Review some of our forms to see if people can be asked questions about their emotions and how they feel.

  5. Provide development to staff so they are aware of the assumptions public bodies often have of Black people and People of Colour.

We’re committed to actioning these findings and ensuring everyone can access our help and support.

Scotland - In Their Own Words

In March 2025, our year-long campaigning culminated with the publication of In Their Own Words – groundbreaking research on the severe impact of temporary accommodation on over 10,000 children in Scotland.

The report was raised in parliament the following day, calling for urgent reforms, including a significant increase in permanent housing, improved temporary accommodation, and a rights-based approach. While the housing minister acknowledged the findings and committed to strengthening guidance on the Education Maintenance Allowance (EMA), a comprehensive emergency action plan for children is urgently needed to address this crisis.

With the first minister’s clear commitment to ending child poverty,

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there’s hope – but action must follow swiftly to protect Scotland’s most vulnerable children.

Putting lived experience at the heart of all we do

England

This year has seen an increase in the number of consultation and co-design requests from local authorities to involve people with lived experience in strategic and operational planning.

Activity this year included members of lived experience groups consulting on Bristol City Council’s Domestic Abuse Housing Alliance’s policy; shaping Bournemouth, Christchurch and Poole City Council’s data analytics approach to predicting and preventing homelessness; and meeting councils in Norfolk and Liverpool to consult on their homelessness strategies.

We also established and facilitated a lived experience steering group in our English campaigns team, embedding people’s insight into the design and delivery of Shelter’s general election campaign.

Scotland

At Shelter Scotland we saw powerful client testimonies from Ryan, Michelle, Susan and others, who shared their experiences of homelessness and unsuitable accommodation. These stories were used strategically in media coverage, supporter communications, income generation appeals, political meetings, parliamentary briefings, donor events, and even during a royal visit to Aberdeen.

Innocent, a full-time wheelchair user - who has spent 15 years living in an 11[th] floor flat, also shared his moving story. Innocent has experienced serious injury due to his inaccessible and inappropriate home environment, including a broken femur after a fall. Innocent’s repeated

requests for a move to suitable housing have gone unheard.

‘I feel trapped,’ he told us. ‘It’s not far from homelessness. What is homelessness if not being forced to live somewhere completely unsuitable for your condition?’

Becoming an anti-racist organisation

England

We continue to work tirelessly to be actively anti-racist in all our work. One of our aims is to develop Shelter’s approach to translation at co-production workshops. This year, we partnered with housing rights teams to run Shelter’s first translated workshops in Bristol. Attendees spoke various languages including Arabic, Somali, Kurdish Sorani, Polish and Pashto. All participants were or had been service users. The output will inform the development of rights awareness resources that will be translated and shared via Housing Champions within their communities.

Scotland

Shelter Scotland launched an antiracism in housing network in November 2024. This brings together housing professionals, community groups and representative bodies to foster antiracist change and learning within the sector.

The network provides a forum to address the disproportionate impact of the housing emergency on minoritised ethnic communities, emphasising the sector’s responsibility to challenge systemic bias and racism.

The network aims to build more inclusive, respectful, and cohesive communities across Scotland.

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Fair, honest and open fundraising

We’re committed to fair, honest and open fundraising. To strive for the highest possible standards, we:

quality checks during welcome calls in order to maintain high standards and agreed approaches.

Complaints

Shelter has thousands of clients, supporters and campaigners, and therefore has millions of opportunities to engage with them through a range of channels, whether that’s in our shops, at our events, via our publications and direct mail, on the phone or virtually.

We welcome feedback, including complaints, and learn lessons whenever concerns are raised. Complaints are managed via our supporter helpdesk or raised directly with our staff and volunteers. During 2024/25, we dealt with 175 complaints in total.

A complaints steering group meets twice a year to provide governance across Shelter for the monitoring and review of complaints activity and produces an annual report for the Board of Trustees.

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Our Fundraising Charter

We will:

 Acknowledge any queries and complaints within three working days and respond fully within 10 working days via your preferred method of contact.

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Our culture

At Shelter, the focus on our culture and how we do things is crucial. We recognise that embedding our culture requires capable, confident and inclusive leaders who are able to lead by example in delivering our strategic plans.

Affinity Groups and the Anti-Racism, Equity and Inclusion Forum (AREIF)

We’re proud that diverse voices are considered in every decision at Shelter. This practice is at its most powerful when we consider the impact of Affinity Groups. These represent colleagues from backgrounds that have been historically marginalised in our country. The chairs and members of these groups bring their unique skills and experience to bear in Shelter’s work and culture.

We were proud to see these groups participate in Pride and Black Pride this year. They have also launched a Menopause Support Group, developed neurodiversity awareness training and achieved much else besides.

The co-chairs of this affinity groups sit on AREIF. Collaborating with other colleagues at Shelter, they work to make the organisation a more anti-racist, equitable and inclusive organisation.

empowered to report and intervene when they encounter racist behaviour. So far, 23 submissions have been made.

Your Voice

In 2024-25 we developed a new framework to improve how we listen to our colleagues and understand our culture. This includes commissioning a new listening platform that will go live in 2025, as well as a more coordinated approach to collating and analysing insight from our people so that we can improve employee engagement.

Our last Your Voice engagement survey captured an improved above average engagement level for our staff (81%) and volunteers (96%) while identifying key areas for improvement, as compared to the preceding survey. As a result of the survey, we developed and delivered local and organisation-wide action plans.

These included an increase in our internal communications, investment leadership learning and development, the rollout of succession planning, developing our mentoring offer, and launching a 360 feedback tool. Our next full survey takes place in summer 2025 using our new tool and will inform further action planning.

This year, joint successes included the rollout of a self-assessment tool for senior leadership, development of our approach to succession planning, and psychological safety and involvement in HR policy development.

Going forwards, the forum’s functions will be split into a Governance Board and an Inclusion Forum to better serve the distinct oversight and involvement needs of the organisation.

We Will Not Tolerate

In October 2024 we launched our organisation-wide We Will Not Tolerate (WWNT) policy and training. This ensures colleagues and volunteers feel

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Our people

Defending the right to a safe home depends on Shelter’s people, donors, campaigners and partners. We employ more than 1,200 colleagues and collaborate with over 2,600 volunteers, all playing a pivotal role in Shelter’s movement for change.

We employ skilled, experienced and passionate advisers, support workers, solicitors, peer mentors and many other housing and homelessness specialists. All work together to deliver our critical services in person, by telephone or online in England and Scotland. We also employ campaigners, policy experts and researchers, who translate the evidence we receive daily from people using our services into strong campaigns that power the movement. All our work is supported by passionate fundraisers and enabling staff.

Reduced working hours

As part of our drive and determination to do the best we can for our people, we trialled various reductions to working hours for a six-month period between July and December. These reductions ranged from 6.67% (reducing to 35 hours) to 20% (reducing to 30 hours and, for colleagues where it was possible, reducing the working week to four days). Trials involved teams representing approximately 10% of Shelter’s workforce.

All teams involved reported improvements to wellbeing. However, at reductions greater than 6.67% we saw marked decreases to measures of productivity in several critical teams. As such, our trustees agreed that we would not proceed with a reduction below a full-time equivalent of 35 hours a week.

Pay and reward

We were pleased to discuss a reduction to 35 hours as part of our 2025-26 pay

award within our Joint Negotiating Committee. At the time of publication, negotiations are still ongoing but we’re determined to do what we can to support our people as they continue to face cost pressures, while ensuring we’re still delivering for those across England and Scotland who are impacted by the housing emergency.

As an employer, we remain proud of our overall offer, and particularly our sectorleading approach to supporting work-life balance through our flexible, remote and additional leave policies.

Volunteers

Volunteers play an important part in the fight for home. With volunteers constituting over 60% of our people, they enable us to achieve our purpose. Volunteers deliver a range of roles across the organisation, which vary in the type of activity, the amount of time they give and their responsibilities.

Volunteers generate income, fight for change and support us to keep delivering on our mission. Meanwhile, our trustees oversee and are responsible for everything Shelter does. In 2024/25, we engaged approximately 2,600 volunteers, who gave 191,000 hours of their time.

This year, we’ve continued to develop opportunities for volunteers at our corporate partners. This has included delivering employability workshops for clients and people with lived experience of homelessness.

To support the inclusion of volunteers with lived experience of the housing emergency, we’ve launched new support for them, as well as new guidance for teams to better triage people into the most appropriate opportunity to be part of our fight for home.

We’ve also reviewed and enhanced our volunteer recruitment journey from an inclusion perspective.

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Our sustainability and carbon footprint

As a large energy consumer, we’re committed to reducing our energy usage and carbon footprint as part of our response to environmental issues, including the climate emergency, as well as our Environmental Policy.

Methodology

Carbon factors used in this report are sourced from 2024 UK Government conversion factors for company reporting of greenhouse gas emissions. This report is aligned with the Greenhouse Gas Protocol’s methodology.

Shelter has continued adapting to hybrid ways of working, reducing the frequency of commuting and the number of people in our o�ces, and expanding the use of technology. This has had a positive impact on our energy and carbon emissions.

According to the Equity Energies Streamlined Energy Carbon Report 2024/25 – completed in May 2025 – our total energy use has decreased by 5% compared to the 2023/24 period. Key contributors to this include reduced size of the estate and increases in e�ciency. Our transport metric has also reduced by 9%due to increases in remote working and restrictions on travel to generate cost savings. As shown in the table below, the overall carbon disclosure has reduced by 6%.

Looking ahead, we’re commissioning a full carbon footprint to understand where we stand and identify further opportunities for reductions. We empower colleagues to make sustainable decisions when working for Shelter and procuring goods and services.

Shelter’s Retail team continue to reduce waste and monitor recycling partners. The team have begun trialling selling items by weight or as clearance and continues to investigate other alternatives to textile rag.

The intensity ratio is 8.38 (2023/24 – 8.49) based on tonnes CO2e of emissions versus financial year group turnover (£77.4m).

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Energy use disclosure

Consumption of gas and electricity for the reporting period was as follows:

Carbon footprint (tCO2e) (tCO2e) Consumption (kWh) Consumption (kWh)
2023/24 period 690.78 2023/24 period 2024/25 period
2024/25 period 648.93 Gas
293,451
Electricity
1,727,7611		 389,030
1,575,333

Consumption and emissions for the reporting period were as follows:

Energy type
Consumption
(kWh)
2023/24
2024/25		 Location-based emissions
(CO2e)
2023/24
2024/25		 Market-based emissions
(CO2e)
2023/24
2024/25*
From activities owned or controlled that
release emissions into the atmosphere.
These are via buildings or assets that the
company owns and company-controlled
transport activities it operates. (Natural
gas; direct business travel, diesel and
petrol.)
1,271,989
1,301,027		 286.74
282.25		 286.74
282.25
Emissions associated with the
consumption of purchased electricity,
heat, steam and cooling. These are
direct emissions that are a consequence
of your organisation’s activities, but
which occur at sources you do not own
or control.
1,727,761
1,579,222		 357.77
326.87		 N/A
Purchased fuel for employee-owned
vehicles used for business trips.
Reporting these emissions is not
mandatory and Shelter is reporting
these on a voluntary basis.
197,262
165,154		 46.27
39.81		 46.27
39.81
Total
3,197,012
3,045,403		 690.78
648.93		 333.01
322.06

*Market-based emissions relate to any purchased energy source, that attracts a bespoke (which differs from the location-based emission) or zero-emission return. When using market-based totals, Shelter’s electricity

1 *Electricity usage has increased due to change in practice. This year we have been able to estimate our electricity usage in serviced premises, which was not previously included.

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use is covered by REGOS (Renewable Energy Guarantees of Origin), and would therefore be assumed to have attracted a zero-emission factor under Scope 1.

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Supporters

We’re incredibly grateful to everyone who has chosen to support Shelter and helped power the fight for home. Every donation we receive goes to ensuring the right to a safe home is protected. In particular, we’d like to thank the following:

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|||| |---|---|---| |Andrew Wilson and Karen| |Jamie Newell|Sir Michael Lyons| |England| |Andy Phillipps and Andrea| |John Young|The Fraxinus Charitable Trust| |Hopkins| |Bloomberg Philanthropies|Lisa Anderson|The G & T Trust| |Colin Temple|Lucy and Donald Peck|The Hands Family Trust| |Mark Sorrell for Goldman| |Dan Hayes|The Michael Bishop Foundation| |Sachs Gives| |Martin O’Byrne and Nathalie|The Miel de Botton Charitable| |David Wise| |Sfakianos|Trust| |Deborah and Laurence Harris|Matthew and Nicky Lyttelton|The Mitchell Charitable Trust| |Diarmuid Ó Séaghdha|Mike Rosenberg|The Tatton-Brown Family| |Dr Bruce and Maaike McInnes|Nick Thomas|The Trillium Trust UK| |Peter Oppenheimer Goldman| |Giles Wright|Tom Anderson| |Sachs Gives| |Professors Charles Baden-| |Gordon Cooper|Venner Shipley| |Fuller and Mary S. Morgan| |Victoria and Edward Bonham| |Guy and Anne Morton|Richard and Lucinda Cormack| |Carter| |Jacqueline Morris|Sarah Morgan|

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Spotlight on Major Donors:

Funding a court duty scheme in Manchester

As to his support for the scheme, Simon says: ‘I think you want to solve the bits you can. You start out thinking, “I’ll change the world” and, as you get older, you start thinking, “well, I’ll change the bit around me.” Being able to support something that is local is important.’

One of the most powerful ways Shelter defends the right to a safe home is through the court duty scheme. This vital service offers a lifeline to people facing the terrifying prospect of eviction or repossession, providing free, on-the-day legal advice and advocacy in 11 courts in England.

In the last year, 7 in 10 cases handled by Shelter solicitors were adjourned or dismissed outright, meaning 70% of clients were prevented from becoming homeless or were protected from more acute risk of homelessness.

While the court duty scheme is extremely effective, the Legal Aid fees we receive often don’t fully cover the true costs of providing this essential service. In Manchester, a local donor named Simon has stepped in to bridge this funding gap. As a former teacher, Simon witnessed firsthand the harsh reality of the housing emergency on pupils and their families. Simon explains: ‘ One of the things about working in education is you see the other side of it. I taught at a sixth form college in a deprived area, and you had students sleeping on friends’ couches at 16 and trying to go to college. How do you cope with that?’

Simon has supported Shelter since 2018. Last autumn, he reached out with a simple question: what impact could a major gift make on homelessness in Manchester over Christmas? Simon agreed to channel his gift to the Manchester court duty scheme, later making a further donation to fully fund the remainder of the service’s funding gap for 2024/25.

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Legacies

We’re indebted to those supporters who remembered Shelter with a gift in their will. Their determination to bring about real change for people impacted by the UK's housing emergency lives on in our work. Here are some of their names:

Alan Findlay Elizabeth Pudsey John Griffiths Patricia Knights
Albert Still Eric Bettles John Jones Patricia Preece
Alexander Henderson Eve Watkins John Lindsey Patricia Tabor
Anne Dykes Frances Edwards John Moore Paul Messerschmidt
Anne Hunter Geoffrey Davey Joyce Harby Pauline Good
Archibald Carter George Shearman Kathryn Humphreys Peter Jessett
Bessie Canning Gillian Hooper Keith Webster Peter Kay
Carole Beattie Gillian Iredale Margaret Graham Peter Toye
Carolyn Dow Graham Wallen Margaret Silvers Raymond Thorp
Cathleen Sweet Greta Hemus-Cools Margaret Turner Richard Martin
Charles Morrow Helen Brittain Marilyn Healy Robert Moorhouse
Christine Cole Helen Roberts Mary MacKenzie Roger Nelson
Christine Wilday Jacqueline Hatcher Mary Murphy Sarah Talbott
D Pettengell James Stewart Mary Walker Sheila Green
David Firth Janet Weeks Maureen Champness Sheila Probert
David Hornby Jean Scott Maureen Hickman Shirley Reade
David Marchant Jean Sharp Michael Foley Shirley Williams
Deborah Sawday Jill Shepherd Michael Pope Susan Baker
Dennis Ramsden John Ashton Michael Rose Susan Reynolds
Donald Edgerton John Deby Muriel Jackson Sylvia Fitzgerald
Doreen Neil John Gale Norman Wilson Valerie Reuben
Elisabeth Jackson John Gibson Patricia Edwards Valerie Reynolds
Elizabeth Jessett

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Trusts and foundations

29th May 1961 Charitable Trust Nationwide Foundation The Bentley Family Trust
BBC Children In Need Northwood Charitable Trust The Constance Travis
Odin Charitable Trust Charitable Trust
CB and HH Taylor 1984 Trust The Eveson Trust
E M Chapman Discretionary Will
Trust		 Pilkington Charities Fund
Postcode Support Trust		 The George Michael Fund
Elizabeth Frankland Moore and
Star Foundation
Evan Cornish Foundation		 Princes Exchange Foundation
Rev W N Monteith's Charitable		 The Independent Human Rights
Fund for Scotland (delivered by
the Corra Foundation)
Franey Foundation
Hollyhock Charitable
Foundation		 Trust
SafeDeposits Scotland
Charitable Trust
ShareGift		 The Legal Education Foundation
The Material World Foundation
The Options Fund
Hugh Fraser Foundation
John James Bristol Foundation
Nancy Browns Charitable Trust		 Souter Charitable Trust
StreetSmart		 The Robertson Trust
The Royal British Legion
National Lottery Partnerships
Fund		 The Access to Justice
Foundation		 The Zochonis Charitable Trust
National Philanthropic Trust UK The Albert Hunt Trust W M Sword Charitable Trust
The Barbour Foundation William Allen Young Charitable
Trust

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Spotlight on Trusts and Foundations

Birmingham Families Project - Oak Foundation

I’ll never forget that day when we walked in [to our emergency accommodation], and the room was so dirty. I felt I’d sold my daughters a lie” Gracie, Birmingham mother and service user

Birmingham faces an enormous housing emergency, with over 10,000 homeless children, and further local government funding cuts to housing services that were already stretched to breaking point. Some areas of the city are amongst the most deprived in the country, with high levels of deprivation and homelessness. These areas have high concentrations of people who are underserved and under-supported, who for cultural, historical or language reasons do not trust or have access to support services.

With support from Oak Foundation, Shelter’s Birmingham Families Project worked in three areas:

vital resources for the communities they serve.

As a result of these activities, 4,500 households were supported and 75% of families reported improved housing situations after receiving casework assistance. We saw a significant rise in capacity for housing advice across the city, with four out of five organisations increasing the quantity or quality of housing advice given after the training, and over 600 people attending the training.

Longer term, following a supercomplaint that used evidence from across the Birmingham service, Birmingham City Council accepted that it had breached its statutory obligations, and agreed to work with Shelter going forwards in regular collaborative meetings with their teams. This has the potential to change policy and practise for the better for many thousands more families across the city.

Behind these impacts are the real people like Gracie, who we advocated for with Birmingham City Council to leave the unsafe and dirty emergency accommodation for a place that was fit for her and her family. “If it wasn’t for [my Shelter advisor], God knows where I’d be today. She honestly helped me so much. I’m so grateful .”

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Corporate partners

Corporate partnerships are vital to helping us end the devastating impact the housing emergency is having on people and communities. Together, we use our voices to create lasting change through fundraising, awareness raising and campaigning.

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|||| |---|---|---| |All Saints|Dreams|Karndean Designflooring| |Art Marketing|Esure|M&S| |Nationwide Building| |B&Q|FatFace| |Society| |BM Solutions|First direct|Mitchells & Butlers| |Braze|Freshfields|Network Rail| |Nottingham Building| |British Land|HG| |Society| |Cox Automotive|HSBC UK|Societe Generale| |Defected Records|IKEA|The Co-operative Bank| |Denby|Lloyds Banking Group|Wayfair| |Dusk|

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Stock generation

Stock generation provides a unique way for organisations to help tackle the housing emergency while simultaneously supporting sustainability in the retail sector. These partners donate pre-loved or end-of-life stock, which is then sold through Shelter’s chain of community and boutique shops. Funds raised from sales help to support our vital work across the country.

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|||| |---|---|---| |AllSaints|Marks & Spencer|Reiss| |Denby|Named Collective|SCS| |Drakes|Nobody’s Child|Snug| |Dreams|Poetic Gem|Studio Nicholson| |FatFace|Office Shoes|The North Face| |Furniture & Choice|Oliver Bonas|Urban Outfitters| |Lothian Buses|Raw|Wayfair| |Lucy & Yak|

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Structure and management

Shelter, the National Campaign for Homeless People Limited (trading as ‘Shelter’), is a registered charity (number 263710 for England and Wales and SCO02327 for Scotland) and a company limited by guarantee (number 01038133). It is governed by its Memorandum and Articles of Association which were last updated in April 2020.

Board of Trustees

Shelter’s Board of Trustees are also the company directors for the purposes of the Companies Act, and have overall responsibility for the strategy, direction, management and control of the charity. The Board formally met five times during 2024/25.

The Board consists of 12 members who give their time on a voluntary basis, receiving no remuneration or other benefits. Out-of-pocket expenses, along with any other costs incurred by trustees in the furtherance of their duties, are repaid by the charity in line with the Trustee Expenses Polices. Details of these expenses are set out in note 19 to the Financial Statements.

Our trustees are recruited using open recruitment processes. Vacant positions are advertised and promoted externally through relevant networks. We place emphasis on having the appropriate balance of skills and experience on our Board, as well as aspiring to have a Board that represents the public and the audiences we were established to serve.

Trustee terms of office are normally two three-year terms, with an exceptional third two-year term on the recommendation of the Board. All new trustees complete an induction programme and are expected to adhere to Shelter’s Trustee Code of Conduct, which includes the Seven Principles of Public Life (‘Nolan Principles’).

We take our governance responsibilities seriously and aim to have a governance framework that’s fit for purpose, compliant and efficient. During the year, a review of the organisation’s governance was undertaken and minor changes were made for improvements.

Board committees

The Board has established committees to support the fulfilment of its governance responsibilities. These are:

Ensures financial and human resources are adequate, and effectively allocated across Shelter, and that internal systems and processes are suitable for the delivery of the Board’s stated strategic objectives and Shelter’s charitable purposes.

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Trustees

Helen Baker

(Left 3 November 2024) Chair

Helen MacNamara Chair (started 4 November 2024)

Philippe Lintern

(Resigned 17 June 2024) Vice Chair and Chair of Committee for Resources and Internal Systems

Kezia Dugdale

Co-opted members

The trustees have established committees to support the delivery of their responsibilities, and we thank the following for the expert advice they provide:

Scotland Committee

Jamie Kinlochan

Sarah Miller

Chair of Scotland Committee

Ken Gibb

Karen Kneller

Chair of Audit and Risk Committee

Annie Mauger-Thompson

Leonie Foster

Chair of Quality and Impact Committee

Jackie Killeen (Resigned 23 May 2024)

Committee for Resources and Internal Systems

Catherine Jobling

Jim Strang

Audit and Risk Committee

John McQuade

Vice Chair

Andrew Martyn-Johns

Louisa Baxter

Chair of the Safeguarding Panel

Myfanwy Barrett

Chair of Resources and Internal Systems Committee

Steven Board

Quality and Impact Committee

Jonathan Simmons

Alison Taylor

Arshmeena Durrani

Steve Haines

Chris Pitt

Insurance

Shelter maintains indemnity insurance for appointed trustees and officers, included as part of the organisation’s commercial combined insurance policy.

Biographies of all current trustees are available on our website.

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Executive leadership

Overall operational management of Shelter is delegated by the Board to the Chief Executive Officer (CEO) and the Executive Leadership team. Shelter has six directorates:

Vicky Charles

Interim Director of Strategy Enablement (from 28 March 2025 to 30 September 2025)

Dan Burraway

Interim Director of Strategy Enablement (from 28 March 2025 to 30 September 2025)

Biographies of all current members of the Executive Leadership team are available on our website.

Polly Neate CBE FAcSS HonDLaws (Resigned 28 March 2025) CEO

Sarah Elliott (Appointed 1 September 2025) CEO

Judith Banjoko Director of Services

Mairi MacRae

Director of Communications, Policy and Campaigns (Appointed 1 June 2024)

Osama Bhutta (Resigned 28 June 2024) Director of Campaigns, Policy and Communications

Mary Foulkes OBE FCIPD Director of Equity, Inclusion and Culture

Tim Gutteridge Chief Operating Officer (Interim CEO from 29 March 2025 to 30 August 2025)

Andy Harris Director of Income Generation

Alison Watson Director of Shelter Scotland

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Advisers

External Auditors

Crowe LLP

55 Ludgate Hill, London, EC4M 7JW

Internal Auditors

RSM LLP

25 Farringdon Street, London, EC4A 4AB

Solicitors

Bates Wells & Braithwaite London LLP

10 Queen Street Place, London, EC4R 1BE

Investment Managers

Cazenove Capital Management 1 London Wall, London, EC2Y 5AU

Bankers

Lloyds Bank Plc 25 Gresham Street, London, EC2V 7HN

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Measuring success

Shelter is fighting for the systemic and structural change that will end the housing emergency and inequity in the housing system. Many of Shelter’s goals, such as changing policy and practice, are complex and involve working in coalition with partners and other campaigners. Understanding our impact therefore goes beyond our own activities and looks at the change the organisation is a part of delivering. Measurement of our performance and impact is therefore complex, as we consider both the outcomes of our activities (e.g. client outcomes) as well as the change we want to see in society (e.g. whether systems and legislation are changed).

Shelter has a framework for performance reporting and the Executive Leadership Team and Board receive regular reports on progress against our strategy, the delivery of strategic plans, and the success of key activities and programmes. These include a set of key performance indicators that are reviewed at each Board. As part of an ongoing programme, we developed a new Indicator Framework in 2024/25, working to refine how we measure our work both locally and nationally, and how it all contributes to social change. This includes use of data from external sources. This process is by its nature iterative. As we improve our understanding of the housing emergency, and its impact on individuals and communities, we can also improve how we measure meaningful change. Homelessness and housing insecurity is a complex social problem, so understanding Shelter’s organisational performance involves understanding the many influences on homelessness and bad housing. This includes local practices, cultures and allocation of resources, as well as the role of housing rights and housing supply.

Safeguarding

Shelter recognises that safeguarding is everyone’s business and we are committed to promoting and protecting the health, safety, wellbeing and human rights of the people we come into contact with through our work. This commitment includes people who benefit directly from our work and the people who work or volunteer for Shelter. As such, we have a governance framework that supports our safeguarding practice. The framework includes trustee sponsorship and involvement in the organisation’s Safeguarding Panel.

The Safeguarding Panel, originally established by our Board of Trustees, supports our commitment to safeguarding. The panel ensures that we have a fully cross-organisational approach. This means everyone at Shelter is aware of their responsibilities and is equipped to support our safeguarding practices. That includes an annual report to the Board to provide assurance that: our framework and practice are helping us to maintain our commitment; that we keep our framework and practice under review; and we share and learn from our collective knowledge and experience of safeguarding matters.

Our safeguarding manager acts as the designated safeguarding lead for Shelter and Shelter Scotland, leading on safeguarding governance and improvements to practice and policy. During 2024/25 there has been a programme of work focused on continuous improvement to policies, procedures, training, reporting and a positive safeguarding culture across the organisation.

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Data privacy and security

Data protection and security sit at the heart of everything we do. We take significant steps to uphold the privacy of personal information of our donors, supporters, clients, staff and volunteers. We’ve implemented privacy by design to fit with our ways of working, and with our robust data governance framework, we’ve been able to minimise the risk in our data processing and data security throughout the organisation.

We process data ethically and responsibly and are always open and honest about why we collect, use and store personal data. Personal data is held for no longer than it’s required and is managed within our strong data protection framework. Rigorous processes and procedures help us fulfil people’s right to access, portability, erasure and rectification.

Our privacy notices provide a clear explanation of how and why we process personal data, and we aim to make clear an individual’s rights of control over how and when their personal data is used. We respect people’s preferences and wishes about how they want to hear from us.

Training our staff, volunteers and contractors is a vital part of our data protection framework, which also includes our robust policies, procedures, processes, data documentation, communication plans, third-party supplier due diligence and regular audits to ensure the framework is working as intended.

We’re continuously making improvements to our privacy framework, based on stakeholder queries and requests; outcomes of data protection impact assessments and annual audits; and risks/issues raised. We document new processing activities throughout the organisation.

It's important to us that our privacy framework evolves as processing evolves with the implementation of new technology and organisational data requirements. If a data breach occurs, we take swift action to put things right, learning from mistakes and putting measures in place to prevent future incidents.

We take a proactive approach to identifying and managing the risks around IT and data security with our data security framework. The training, policies, processes, external penetration testing, regular audits and reporting maintain high standards of cyber security that are accredited with the Cyber Essentials certification.

Privacy measures are built into the design phase of all our applications and processes as a matter of course. This helps us to remain trustworthy, open and accountable to everyone we encounter.

Subsidiary undertakings

The charity’s wholly owned trading subsidiary, Shelter Trading Limited (company number 02573404), carries out non-charitable trading activities for the charity (primarily the sale of new goods and managing corporate sponsorship activities). Details are included in note 20 to the accounts. The activity of Shelter Trading Limited generates considerable awareness of the charity’s wider work while raising some of the funds required to support the charity’s operations.

Principal risks and uncertainties

Taking risk is an inherent part of Shelter’s operations. Without taking risks, we won’t be able to deliver our strategic plans. The organisation has a well-developed risk framework designed to support the organisation’s leadership to manage, rather than eliminate risk and support informed decision-making. The

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framework supports colleagues to take a consistent approach to identifying and managing risk, ultimately ensuring risk is managed within the Board’s agreed appetite and tolerance.

The expertise of Shelter’s staff is essential to the identification, evaluation and management of risks. Our approach recognises six primary risk types (strategic, operational, compliance, financial, reputational and cultural) and we consider all risk against the risk to the organisation, its people and the delivery of our strategic aims.

reserves based on a number of months’ expenditure, Shelter takes a risk-based approach. The organisation’s leadership and Audit and Risk Committee regularly review and analyse the financial risks faced by the organisation and recommend to the Board a suitable level of financial reserves. This analysis considers both the organisation’s circumstances and external conditions, as well as Shelter’s activities and principle risks. The aim is to ensure a level of reserves adequate for Shelter to survive economic shocks without compromising on our strategic aims.

The Audit and Risk Committee reviews the risk register at every meeting and approves the annual internal audit plan, which includes reviews of areas of significant risks. The committee receives regular reports from the internal auditors on the effectiveness of Shelter’s internal controls, the delivery of the audit plan and the implementation of audit recommendations.

Shelter’s trustees determine how much risk the charity is willing to take in the pursuit of its objectives (its risk appetite) as well as changes requiring the charity to operate an appropriate risk management framework. The Audit and Risk Committee reviews the operational effectiveness of the risk management and internal control systems and reports findings and recommendations to the Board.

For major activities, projects and programmes, Shelter adopts standard governance approaches to ensure the activities are properly planned, managed and implemented. Risk management is a key responsibility of project teams.

Our principal risks are shown in the following tables. This is a summary of the more detailed risk register entries, including mitigations.

Reserves risk

Shelter’s reserves are maintained in line with Charity Commission guidance to mitigate against and manage risks to the organisation, as well as to invest in new opportunities. Rather than calculate

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Strategic risks

Strategic risks are those risks to the delivery of our strategy and strategic plans. That includes the strategy becoming less effective at addressing the housing emergency, the organisation being unable to deliver our goals, or the goals being less, or no longer relevant. That could include, for example, shifts or increases in service demand, changes in the landscape in which we operate, or changes in the external expectations of the organisation.

----- Start of picture text -----
Risk Comment Mitigations
 We maintain frequent and regular
reporting on our cashflow and financial
performance to ensure any issue is
Internal and external financial pressures noted early and allow for remediation.
result in a greater level of financial risk to  We continue to hold reserves as
the organisation. These factors include outlined in our reserves policy and
ongoing inflationary pressure on both Statement of Financial Position.
payroll and non-staff costs, greater  Our medium-term financial plans
competition and uncertainty in the wider continue to be predicated on rebuilding
economy impacting our fundraising. our reserves, with income projections
and cost reduction measures
underpinning those plans.
 We work to influence decision-makers
and policymakers (locally and nationally),
as well as galvanise a wider movement
of campaigners and society to reach our
Local and national policy and decision- campaign and policy aims.
makers are faced with multiple competing  Our brand positions Shelter to campaign
priorities. Shelter’s aims in England and on the housing emergency and helps to
Scotland can ultimately only be delivered articulate how we view equity as a key
through policy change. Therefore, ensuring part of our mission.
that the housing emergency remains a  Research shows continued public focus
salient political issue is critical to delivery. on housing, born out in commitments to
social housing through the general
election and legislative priorities of the
new government.
The risk that Shelter is seen by the public as
irrelevant or operating outside of our
purpose. With the direct consequences of
the housing emergency evidenced every Our brand positions the organisation
day, campaigning for systemic solutions clearly as a campaigning force on the
may be seen as irrelevant or unachievable. housing emergency and places equity and
anti-racism as fundamental parts of a
Externally, there are also changing social justice mission.
perceptions of the role charities and civil
society can and should play in campaigning
on contentious issues.
Financial risk
Political context and relevance
s purpose
Shelter’
External perceptions of
----- End of picture text -----

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A key part of our strategy is that our enemy is social injustice, because it denies the right to a safe home, and that equity is a fundamental part of that. We know that the current housing system is biased and discriminatory, and that it is not well understood by the general public. Shelter’s 10-year strategy was a significant departure from our previous operating model. As well as new ways of working post-pandemic, there is a risk that the organisation doesn’t have the correct capability, capacity or culture to deliver the stated strategic aims.

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Section 172 statement

Shelter is a leading housing and homelessness charity, and relies on stakeholder trust and confidence to achieve strategic and operational aims. Shelter’s trustees ensure compliance with Section 172 of the Companies Act 2006 by promoting the charity's success and ensuring that decision-making incorporates consideration of stakeholder interests.

Day-to-day management is delegated to the CEO and Executive Leadership team, who follow Board-approved policies to further Shelter’s strategy and charitable goals.

The Board and its committees periodically review strategic policies and monitor Shelter’s performance and plans. They oversee specific activities to ensure the charity is following its strategy and policies. This process ensures that decisions comply with Section 172 of the Companies Act, promoting the charity’s success.

Shelter achieves its charitable goals through strong relationships with stakeholders such as staff, volunteers, beneficiaries, individuals affected by the housing emergency, supporters, policymakers, and other key figures in housing. The chief executive and Executive Leadership team consistently report on partnerships, stakeholder engagement activities, and feedback received, ensuring effective interaction and ongoing support for Shelter's mission.

Shelter’s trustees have a duty to promote the success of the charity and, in doing so, are required by section 172(1) of the Companies Act 2006 to have regard to various specific factors, including:

The likely consequences of any decision in the long-term

The nature of work Shelter is engaged in depends on long-term thinking. Our goal to tackle social injustice and defend the right to a safe home requires us to

identify the interventions most likely to deliver long-term impact for those affected by the housing emergency.

Supported by our internal auditors, the Board and the Audit and Risk Committee reviewed Shelter’s principal strategic risks and risk appetite. The risk register is reviewed at every meeting of the Board of Trustees and Audit and Risk Committee, and consideration is given to emergent risk and changes to existing risk, as well as changes to the overall risk profile and the organisation’s capacity to take on risk. We took action during the year to bring risk within the charity’s appetite in relation to trade union engagement, particularly during a period of industrial action.

The desirability of the charity to maintain a reputation for high standards of conduct

Shelter has been investing time and resources in its internal culture for several years, and the Board plays a key role in setting the organisation’s culture and values. The organisation has a variety of policies and controls in place that promote corporate responsibility and ethical behaviour. Areas covered include fundraising and income generation, conflicts of interest, safeguarding, dignity at work and whistleblowing, and these are all reviewed regularly. We expect those we work with (both as partners and suppliers) to apply similar policies to our own in areas such as living wage, dignity at work, safeguarding and modern slavery. We have implemented a We Will Not Tolerate policy and programme of staff training and incident reporting to embed our anti-racism and inclusion work in all we do.

Engaging with our stakeholders

Shelter regularly engages with key stakeholders. This means we maintain an understanding of their needs and priorities, informing how we develop our objectives and strategic plans. The Board and its committees’ decisionmaking process considers the impact of decisions on relevant stakeholders, where and when relevant. Trustees are provided with assurance that proper

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consideration is given by its committees to stakeholder interests through regular reports from each committee.

People affected by the housing emergency

Through our Lived Experience Insight team, we regularly involve people with lived experience in the work we do. This is across the breadth of the organisation’s activities; not just service provision, but also our campaigns, policies, governance and the development of the organisation’s strategic plans and priorities. Time at Board meetings has been used to consider the insight of those with lived experience.

Our staff and volunteers

Our staff are essential to the organisation's effectiveness and the Board regularly considers the impact of key decisions on staff and volunteers. This is received via the executive, and through regular engagement surveys and from staff representatives. This takes place both formally through a recognised trade union and via staff groups such as the internal culture Beacons and Affinity Groups (Racial Equality Network, LGBTQ+, Women and Non-binary, Disabled and Neurodivergent).

Our supporters

Shelter was established as a campaign for change, and our supporters are essential to achieving our campaigning goals. Regular consideration is given to the views and priorities of our supporters, for example through research and focus groups. The trustees use this insight to guide the development and delivery of our activity to ensure that our supporters’ views inform all we do.

Key opinion leaders, policymakers and others with significant interest or involvement in housing

Shelter works closely with key opinion leaders and influencers – including parliamentarians, members of local governments, and national and regional bodies, to help shape and inform policy to meet our objective of a safe home for everyone. We give regular consideration to our influencing plans and proposals for how we work in partnership with other organisations to pursue shared policy outcomes. The regularity with which our work and research is quoted by parliamentarians demonstrates that we’re considered an effective organisation by politicians of all parties.

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----- Start of picture text -----
Significant
S172 Action/impact
event/decision
 The 2024 general election was a
significant opportunity for Shelter/
Shelter Scotland to gain political
commitments to ending the housing
emergency.
 Our staff and volunteers
 The Board considered proposals and
 Our supporters
approved the development and
 People affected by the
launch of a general election
General housing emergency
manifesto and campaign that was
election  Key opinion leaders,
developed and shaped by people
campaign policymakers and others
with lived experience.
with significant interest  The campaign called on political
or involvement in
parties to commit to: building a new
housing
generation of social homes; make
renting affordable; raise standards
in rented homes; and strengthen
housing rights.
 Shelter is committed to enhancing
work-life balance and employee
wellbeing, recognising it as critical
in the fight for home. The
organisation already has an
excellent total reward package.
 As part of the 2023 pay deal with the
recognised trade union, the Board
agreed to a trial of reduced hours.
 Several models were tested, ranging
Reduced  Our staff and volunteers from a 35-hour week (6.67%
working hours  Our supporters reduction) to a 30-hour week (20%
trial, review and  People affected by the reduction).
implementation housing emergency  Trial results were understood
through changes to wellbeing,
productivity, equity and financial
impact.
 Decreases to productivity were
noted at models below 35 hours and,
considering the people we’re here to
serve, the Board agreed that no
reduction beyond 35 hours would be
made on review of the trial.
----- End of picture text -----

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----- Start of picture text -----
 The cost-of-living crisis has
continued to exacerbate the already
acute housing emergency, and
renters already at breaking point are
being hit with spiralling rents.
Cost-of-living  Internally we continue to see the
 Our staff and volunteers
crisis and impact of inflation on our costs,
 People affected by the
inflationary across the organisation.
cost pressures housing emergency  Trustees were actively involved in
ongoing pay negotiations with
Shelter’s recognised trade union,
with our lowest paid staff receiving
increases above the rate of inflation.
 As a charity, Shelter relies upon
voluntary donations from a variety of
sources. But we’re also committed
to ensuring that our fundraising is at
all times in line with our purpose and
values, and meets our moral and
ethical standards. This includes who
 Our staff and volunteers
we accept donations and support
 Our supporters
from, and who we partner with.
 People affected by the  Shelter has robust due-diligence
housing emergency
Funder due processes and leadership, including
 Key opinion leaders,
diligence trustees, who are involved in
policymakers and others
decisions to approve or decline any
with significant interest
financial relationship where there is
or involvement in
any perceived reputational risk.
housing  Within the framework set out in
charity law, Shelter will refuse
donations from individuals or
organisations whose activities are,
or appear to be, detrimental to our
beneficiaries.
----- End of picture text -----

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Financial Review

Overall, Shelter ran an operating deficit of £2.9m (of which £1.9m is unrestricted deficit). This is less favourable than the operating deficit of £1.3m in 2023/24, but reflects a significant improvement from the operating deficit the previous year of £7.8m (2022/23). Income decreased by £4.4m, with expenditure reducing by £2.8m compared to 2023/24. Another year of successful cost-saving initiatives helped to offset the decrease in fundraising income.

Income

Income totalled £77.0m in 2024/25. This is £4.4m (5.4%) lower than the previous year, with declines across our portfolio from the record highs of that year. The majority of the decrease was driven by a fall in donations from corporate partners.

Donations and legacies decreased by £3.7m to £49.6m due to falls in income from individuals, corporate donors and legators. This was an anticipated decrease given the natural volatility of such income types with corporate donors constrained by the challenging financial landscape.

Charitable activities decreased £0.1m to £13.0m from £13.1m in 2023/24. The decrease in income is attributed to a reduction in other charitable activities, largely non-statutory grant income. This reduction (£0.2m) was nearly offset by an increase in income from statutory grant and contract income (£0.2m).

Retail income reduced by £0.2m to £12.8m. We saw a decline in income from both new and donated goods. While we anticipated the reduction in new goods income due to an improvement to our ethical procurement standards, an overall decrease in income is challenging and we will need to manage it. Although retail operations showed a loss of £2.0m after support costs are allocated, there was a positive net contribution of £1.2m before allocation.

Expenditure

Totalled £79.9m in 2024/25, £2.8m lower than the previous year.

Cost of raising donations and legacies increased by £0.6m to £19.1m in 2024/25. The majority of this increase (£0.5m) was in direct non-staff fundraising costs due to an increasingly competitive media buying landscape, meaning we had to pay more to reach the same number of potential donors.

Retail costs increased by £0.2m to £14.8m given the impact of increased staff costs on shops. Given the continued high costs in running Shelter’s retail chain, our retail operation again generated a net loss after the attribution of shared support costs. This increased by £0.4m in 2024/25, to a total loss after support costs of £2.0m. We expect new retail leadership to reverse this position.

Charitable activities decreased by £3.6m (7.2%) to £45.9m in 2024/25. This was across all delivery areas (totalling £4.2m) apart from communications, policy and campaigns which saw an increase of £0.5m in costs as the organisation prepared for the general election. The reduction in Services is driven by £1.8m from National Services and £1.6m from Community Services. This is a result of programme cost-saving initiatives put into place last year that were fully realised this year and the reduction of some contracts.

At £17.6m, support costs are £0.4m (2.4%) lower than the previous year, chiefly due to reduced depreciation costs.

Deficit

Under the requirements of the 2019 Statement of Recommended Practice (SORP), Shelter separates its funds into restricted and unrestricted. Full information on Shelter’s funds can be found in note 16 to the accounts.

The £2.9m deficit generated in 2024/25 is comprised of a £1.1m restricted deficit (compared to a £1.7m surplus in 2023/24), relating to donations restricted to a purpose for which the funds were received in prior years and carried forward, and a £1.9m unrestricted deficit (£2.9m deficit in 2023/24). The unrestricted deficit is

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the sum of a £1.7m decrease in funds designated for purposes by the Board and a £0.2m decrease in general funds, also known as reserves. The decrease in designated funds is entirely due to depreciation of fixed assets.

Trading

The trading company (Shelter Trading Limited) made a distribution of £0.03m to the charity in 2024/25, down from the £0.4m in prior year. The trading company’s income comprises corporate sponsorship partnerships as well as the sale of purchased stock through retail, and commission earned by selling donated goods on behalf of the charity under the Retail Gift Aid Scheme. (The sale of donated stock is recognised in the charity.) The decrease from the previous year is related to lower sales and fewer corporate partnerships in 2024/25.

Reserves and other funds

Shelter’s reserves, shown on the balance sheet as ‘general funds’, are its unrestricted funds not designated by the Board for any other purpose. They provide resilience in the event of financial shocks.

The Reserves Policy determines the target level for reserves. This is based on a schedule of risks which is reviewed by the Board annually or in the event of a significant change to Shelter’s risk profile. Reserves may fall below the target level, but plans must be put in place to return them to the target level within the following three years.

Shelter's Reserves Policy level was £11.0m for the end of 2024/25. At 31 March 2025, reserves are £3.3m lower than this, at £7.7m, £0.3m lower than last year, given our deficit. Given this, the Board has directed management to rebuild reserves to £12.5m by the close of the year ended 31 March 2028.

Shelter has two designated funds: the Revaluation Reserve and the Property and Fixed Asset Fund. These funds relate to Shelter’s fixed assets. Net movements from Fixed Assets are transferred to these designated funds to reflect the value of reserves made up by

Fixed Assets. In 2024/25, transfers totalling £1.7m have been made to the General Fund from the Designated Funds, to reflect the net decrease in fixed asset values as depreciation charges have exceeded additions in 2024/25.

Investments

Shelter’s investment portfolio is largely housed in liquidity funds generating set interest, to mitigate the risk of variable market returns at a time when our reserves remain historically low.

Shelter’s investment managers, Cazenove Capital, manage the investments within the parameters identified in the Investment Policy set by the Board. The Committee for Resources and Internal Systems has responsibility for reviewing the performance of the funds.

Shelter is a charity that seeks to invest ethically. Currently, all funds aside from shares received in legacies awaiting disposal are held in liquidity funds, while we rebuild reserves.

Going concern

Shelter's income, expenditure and cashflow have been modelled to March 2027 based on our budget and historic trends, considering current economic factors. In line with our approach to rebuilding reserves, we expect a general improvement in liquidity.

In the unlikely event that variances to assumptions materialise sufficient to restrict liquidity, Shelter can modify our cost base or dispose of assets sufficiently to mitigate the change in circumstances.

After considering these factors, it is the opinion of the trustees that the Group has adequate financial resources to continue its activities for the foreseeable future and as such the accounts and annual report have been prepared on the going concern basis.

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Statement of Trustees’ responsibilities

The Trustees are responsible for preparing the Strategic Report, the Annual Report, and the financial statements in accordance with applicable law and regulations.

Company law requires the trustees to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company 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 group and charity, and of the incoming resources and application of resources, including the income and expenditure, of the group for that period.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity’s transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005, and the Charities Accounts (Scotland) Regulations 2006 (as amended). 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.

Financial statements are published on the Charity’s website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements, which may vary from legislation in other jurisdictions. The maintenance and integrity of the Charity’s website is the responsibility of the trustees. The trustees’ responsibility also extends to the ongoing integrity of the financial statements contained therein.

Disclosure of information to auditors

All of the current trustees have taken all the steps that they ought to have taken to make themselves aware of any information needed by the charitable company's auditors for the purposes of their audit and to establish that the auditors are aware of that information. The trustees are not aware of any relevant audit information of which the auditors are unaware.

Auditor

Crowe LLP were appointed as the charity’s auditors during the 2024/25 financial year and have expressed their willingness to continue in that capacity.

The Trustees’ Annual Report, which includes the Strategic Report, has been approved by trustees on 24 September 2025 and signed on their behalf by:

Helen MacNamara

Chair of the Board of Trustees

Date: 08 October 2025

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Independent Auditor’s Report to the Members and Trustees of Shelter, The National Campaign for Homeless People Limited

Opinion

We have audited the financial statements of Shelter, The National Campaign for Homeless People Limited (‘the charitable company’) and its subsidiary (‘the group’) for the year ended 31 March 2025 which comprise the Consolidated Statement of Financial Activities, Charity and Group Balance Sheets, Consolidated Cash Flow Statement and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustee's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information contained within the annual report. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

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Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion based on the work undertaken in the course of our audit

Matters on which we are required to report by exception

In light of the knowledge and understanding of the charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors’ report included within the trustees’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and the Charities Accounts (Scotland) Regulations 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 49, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and under the Companies Act 2006 and report in accordance with the Acts and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance

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with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Details of the extent to which the audit was considered capable of detecting irregularities, including fraud and non-compliance with laws and regulations are set out below.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We identified and assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud or error, and discussed these between our audit team members. We then designed and performed audit procedures responsive to those risks, including obtaining audit evidence sufficient and appropriate to provide a basis for our opinion.

We obtained an understanding of the legal and regulatory frameworks within which the charitable company and group operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Charities Act 2011, the Companies Act 2006 and The Charities and Trustee Investment (Scotland) Act 2005, together with the Charities SORP (FRS102). We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items. We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be necessary to the charitable company’s and group’s ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the charitable company and group for fraud. The laws and regulations we considered in this context for the UK operations were General Data Protection Regulation (GDPR), Health and Safety legislation and Employment legislation.

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any.

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within the timing of recognition of grant and contract income, legacy income, retail income and corporate sponsorship income and the override of controls by management. Our audit procedures to respond to these risks included enquiries of management, internal audit and the Audit and Risk Committee about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, sample testing of the above income, reviewing regulatory correspondence with the Charity Commission, and reading minutes of meetings of those charged with governance.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements,

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the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, and to the charitable company’s trustees, as a body, in accordance with Regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Julia Poulter Senior Statutory Auditor For and on behalf of

Crowe U.K. LLP

Statutory Auditor

London

Date: 17 October 2025

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FINANCIAL STATEMENTS

Consolidated Statement of Financial Activities

For the year ended 31 March 2025 (incorporating income and expenditure accounts)

Notes Unrestricted
funds		 Restricted
funds		 Total Total
2025 2024
£'000 £'000 £'000 £'000
Income from:
Donations and legacies 2 40,863 8,765 49,628 53,336
Retail and commercial operations 3 12,801 29 12,830 12,977
Charitable activities:
Grants and contracts 5 4,082 5,318 9,400 9,189
Training and resources for housing professionals 5 1,376 336 1,712 1,771
Other charitable activities 5 1,626 301 1,927 2,179
Total income on charitable activities 7,084 5,955 13,039 13,139
Investments 4 261 - 261 205
Other trading income 1,202 - 1,202 1,674
Total income 62,211 14,749 76,960 81,331
Expenditure on:
Raising donations and legacies 2 18,744 403 19,147 18,569
Retail operations 3 14,725 106 14,831 14,604
Charitable activities:
Services 7a 23,087 11,663 34,750 39,083
Communications, policy and campaigns 7a 6,308 3,558 9,866 9,314
Lived experience insight 7a 1,211 101 1,312 1,084
Total expenditure on charitable activities 30,606 15,322 45,928 49,481
Total expenditure 7 64,075 15,831 79,906 82,654
Net (expenditure)/income before investment gains/
(losses)		 (1,864) (1,082) (2,946) (1,323)
Net gains/(losses) on investments 12 - - - 73
Net (losses)/income for theyear (1,864) (1,082) (2,946) (1,250)
Reconciliation of funds:
Fund balances at the start of theyear 16, 17 17,285 5,586 22,871 24,121
Fund balances at the end of theyear 16, 17, 18 15,421 4,504 19,925 22,871

The notes on pages 57 to 89 form part of these financial statements

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Charity and Group Balance Sheets

As at 31 March 2025

Notes Group
Charity
2025
2024
2025
2024
£'000
£'000
£'000
£'000
Fixed assets
Tangible fixed assets
11
Intangible fixed assets
11
Investments
12
Investments - cash deposits
12		 7,596
8,704
7,596
8,704
79
625
79
625
-
-
80
80
3,006
4,160
3,006
4,160
Total fixed assets
Current assets
Stock
Debtors
13
Cash at bank		 10,681
13,489
10,761
13,569
39
60
-
-
12,660
14,490
13,397
15,481
5,351
5,611
4,550
4,553
Total current assets
Current liabilities
Creditors: amounts falling due within one year
14		 18,050
20,161
17,947
20,034
6,737
8,548
6,729
8,517
Net current assets 11,313
11,613
11,218
11,517
Total assets less current liabilities
Provisions for liabilities and charges
15		 21,994
25,102
21,979
25,086
2,069
2,231
2,069
2,231
Net assets
Accumulated funds
Unrestricted income funds:
General funds
16
Designated funds
16
Restricted income funds
17
Permanent endowment fund
16
Total charity funds		 19,925
22,871
19,910
22,855
7,746
7,956
7,731
11,195
7,675
9,329
7,675
6,074
4,465
5,547
4,465
5,547
39
39
39
39
19,925
22,871
19,910
22,855

The net movement in funds for the year for the charity only was -£2,946,038 (2024: -£1,323,000), not including gains/losses on investments.

The charity-only income was £75,393,000 (2024: £79,604,000) less expenditure of £78,339,000 (2024: £80,927,000).

The financial statements were approved by the Board of Trustees and authorised for issue on 24[th] September 2025.

They were signed on its behalf by:

Helen MacNamara

Chair of the Board of Trustees

Date: 08 October 2025

Shelter company registration number 1038133

The notes on pages 57 to 89 form part of these financial statements

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Consolidated Cash Flow Statement

Year ended 31 March 2025

Notes 2025 2024
£'000 £'000
Cash flows from operating activities:
Net income/(expenditure) for the year (2,946) (1,250)
Adjustments for:
Depreciation charges 11 2,267 3,256
(Gains)/losses on investments 12 - (73)
Income from investments (261) (205)
(Profit)/loss on disposal of fixed assets 11 - -
Decrease/(increase) in stocks 21 59
Decrease/(increase) in debtors 1,830 432
Increase/(decrease) in creditors (1,811) (282)
Increase/(decrease) in provisions 15 (162) (609)
Net cash in/(out)flow from operating activities (1,062) 1,328
Cash flows from investing activities:
Income from investments 261 205
(Profit)/loss on disposal of fixed assets - 40
Purchase of fixed assets 11 (613) (909)
Purchase of investments 12 -
Sale of investments 12 1,154 2,391
(Increase)/decrease in investment cash 12 -
Net cash in /(out)flow from investing activities 802 1,727
Change in cash in the year (260) 3,055
Cash and cash equivalents at the beginning of the year 5,611 2,556
Cash at the end of the year 5,351 5,611
Net funds reconciliation
1 April 2024 Cash flows 31 March 2025
£'000 £'000 £'000
Cash at bank and in hand 5,611 (260) 5,351
Net cash 5,611 (260) 5,351

The notes on pages 57 to 89 form part of these financial statements

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Notes to the Financial Statements

1. Accounting policies

a) Basis of accounting

Shelter is a public benefit entity as defined under Financial Reporting Standard 102 (FRS102). The accounts have been prepared in accordance with the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102 2018), and Accounting and Reporting by Charities: Statement of Recommended Practice (2019) applicable to charities preparing their accounts in accordance with FRS102.

For freehold property, Shelter has taken the option afforded by FRS102 to value at deemed cost. See (g) below for further details. Listed investments are held at fair value. All other assets have been valued at historical cost.

b) Going concern

Shelter's financial statements have been prepared on the going concern basis. An organisation is a going concern if it is expected to continue operations for the next 12 months. Shelter's trustees have assessed Shelter's ability to continue as a going concern for 12 months after the signing of the 2024/25 accounts, i.e. until September 2026.

Shelter's income, expenditure and cashflow have been projected up to March 2027. Income has been budgeted with economic conditions in mind and budget targets are considered to be realistic. Projections for 2025/26 show a balanced outlook, with cash and reserves rising to target policy levels by the end of 2025/26.

Sensitivity analysis has been carried out to project the impact on cashflow of potential risks, including underperformance against budget of income targets, inflationary increases in the cost of energy and fuel, and inflationary effects on staff salaries. Inflationary increases are budgeted in line with Bank of England forecasts. The overall inflationary environment has become significantly less volatile and is of lower concern than previously.

After considering the current level of reserves and cash, the forecast to March 2027 and related sensitivities, and the mitigation actions available to the business (including obtaining external finance secured on freehold properties, if necessary), it is the opinion of the trustees that the Group has adequate financial resources to continue its activities for the foreseeable future. Accordingly, these financial statements have been prepared using the going concern basis of preparation and a material uncertainty does not exist.

c) Group accounts

Group accounts have been prepared for Shelter, The National Campaign for Homeless People Limited, and its wholly owned subsidiary company, Shelter Trading Limited, in accordance with the requirements of FRS102. The accounts have been consolidated on a line by line basis to include the results of Shelter Trading Limited. The results of Shelter Trading Limited are shown in note 20. In accordance with section 408 of the Companies Act 2006, no individual statement of financial activities has been prepared for the parent company, Shelter, The National Campaign for Homeless People Limited.

d) Income

Income is included in the consolidated statement of financial activities when the charity is entitled to the income, it is probable the income will be received, and the amount can be quantified with reasonable accuracy. If all three criteria are met in advance of cash being received, income is accrued.

Other trading income represents non-primary purpose trading Shelter undertaken by Shelter Trading Limited. This is conducted with its corporate partners, such as commission in relation to sales using Shelter's brand and logo.

Accrued income sits within debtors (see note 13). If any of the three criteria have not been met when cash is received, income is deferred. Deferred income sits within creditors (see note 14).

The following specific policies apply to categories of income:

(1) The full value of a legacy is recognised as income when probate has been granted and Shelter is satisfied the amount receivable can be reliably measured.

(2) Grant income is recognised when Shelter has satisfied each of the performance conditions set out by the donor, or when achievement of conditions is within our control, and it is reasonable to assume they will be achieved.

(3) Contract income is recognised to the extent that goods/services have been delivered as set out in the contract. (4) Donation income is recognised when the charity has entitlement to the funds, it is probable that the income will be received, and the amount can be measured reliably. This includes income from individuals, corporates, and other voluntary sources not subject to performance conditions.

(5) Training income is recognised as income when the training services are delivered. Where fees are received in advance, income is deferred and recognised when the service is provided.

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(6) Funds held as agent are not recognised but instead are received on behalf of partner organisations, to whom these funds were passed. This is not shown as income and expenditure as Shelter acted as an agent in regards to these funds.

(7) Trading income includes income from Shelter's corporate sponsorships, the sale of new goods via Shelter’s chain of retail shops and online, and commission earned on sales made on behalf of Shelter, the National Campaign for Homeless People Limited under the Retail Gift Aid Scheme and is recognised upon delivery of relevant goods and/or services.

e) Expenditure

Expenditure is accounted for on an accruals basis, meaning that it is recognised when goods or services are received. The statement of financial activities shows the costs of raising donations and legacies, retail operations and charitable activities. Each of these categories includes a proportion of support costs, comprising finance, IT, HR, facilities, brand, advertising and in-house creative, and other corporate costs. These have been allocated to each category on the basis of full-time equivalent staff numbers, because that is the main driver of costs in the charity (see note 7).

f) Donated services and gifts in kind

Donated services and gifts in kind are included in the statement of financial activities where their value is ascertainable and material. The value of the contribution to Shelter is based on either market value or the amount Shelter would have paid for equivalent goods or services. Income is included under donations and legacies. An equal amount of expenditure is included under the relevant category, as determined by the nature of the goods or services. The net impact on the net income or expenditure for the year is nil. Volunteers' time has not been valued and is not included in the accounts.

g) Tangible assets and depreciation

Assets costing more than £1,000 which are intended to be in use for more than 12 months are capitalised as fixed assets. Other than freehold property, all categories of fixed assets are held on the balance sheet at historic cost less accumulated depreciation. Freehold property is held at market value as at 31 March 2014 less accumulated depreciation on the buildings. On transition to FRS102, the market value is deemed as cost at 1 April 2014.

Depreciation allocates the cost of a fixed asset over its useful life. The cost is recognised under the relevant category of cost in the statement of financial activities, depending on how the asset is used. At Shelter, depreciation is charged on a straight line basis, meaning that the charge remains the same throughout the life of an asset. The useful lives of Shelter's assets are deemed to be as follows:

Freehold buildings - 50 years Short-leasehold buildings - in line with the lease term Freehold improvements - 10 years Furniture and fittings - 4 years Computer and office equipment - 3 years Computer software - 3 years Vehicles - 3 years

Freehold land on which buildings are constructed is not depreciated.

Freehold buildings may contain components with useful lives below 50 years. Where the impact is material, these components are held separately from the main building and are depreciated over their useful lives, which are determined on a case-by-case basis.

If an event occurs which indicates a material reduction in a fixed asset's carrying value, an impairment review will be carried out. Any impairment charge is recognised in the statement of financial activities.

h) Dilapidations

All dilapidation costs are provided for. Leases on Shelter's shops and offices usually include a contractual obligation for Shelter to return the property to its original condition at the end of the lease. The costs of doing this are estimated by a chartered surveyor at the commencement of the lease. Shelter recognises a provision and corresponding cost at that point. The provision is reviewed throughout the lease term. Dilapidation costs are payable on lease termination.

i) Cash and investments

Cash and cash equivalents at bank includes cash and short-term highly liquid investments obtainable within three months from the date of acquisition.

Listed investments, such as shares and bonds, are held at market value. Any realised or unrealised gains resulting from movements in investments and changes in valuations are reflected in the statement of financial activities and are

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accounted for in the relevant fund (see (k) below). Other investments are held at cost less impairment, if applicable. These include investments in unlisted shares that are received as a part of a legacy that are sold as soon as is practically possible, and the investment in subsidiary company Shelter Trading Limited on the balance sheet of Shelter, The National Campaign for Homeless People Limited.

j) Stock

Stock consists of purchased goods held for resale by Shelter Trading Limited. Donated stock held for resale is not recognised as stock as it is not practicable to value it reliably. Stock is stated at the lower of cost or net realisable value. The income from sale of stock is recognised at point of sale.

k) Fund accounting

Due to the constraints of law and donor-imposed restrictions, the charity segregates its funds between those that are restricted and those that are unrestricted. General funds represent the accumulated surplus on unrestricted income and expenditure and are available for use at the discretion of the Board in pursuing the general charitable objectives of the charity (see report of the trustees).

Designated funds are funds that have been set aside by the Board for a specific purpose. An analysis of designated funds is provided in note 16 to the financial statements.

Included in designated funds is a freehold property and fixed asset fund that represents the net book value of Shelter's freehold property and fixed assets. This fund has been separated from the general fund in recognition of the fact that the freehold property and fixed assets are used in Shelter's day-to-day work, and the fund value would not be easily realisable if needed to meet future liabilities.

Restricted funds represent income received where the donor or the nature of the appeal generating the income has imposed restrictions as to how the monies shall be used. Further detail on restricted funds is provided in note 17.

The endowment fund comprises a capital sum donated with the restriction that capital is invested and only the income arising is available for expenditure.

l) Operating leases

Rental expenditure applicable to operating leases is credited or charged to the consolidated statement of financial activities on a straight line basis, in the period to which the cost relates.

m) Pension costs

Contributions to the company's defined contribution pension scheme are charged to the consolidated statement of financial activities in the year in which they are payable to the scheme.

n) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

o) Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

p) Financial instruments

With the exception of the listed investments described above, the charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

q) Significant judgements and estimates

Key judgements that Shelter has made which have a significant impact on the accounts include: legacy income (see (d) (1) above and note 2 below, required judgements for entitlement and valuation), funds held as agent (see (d)(6) above requiring judgement to determine lack of entitlement and evaluating agent relationship), and dilapidations provisions (see note 15: required judgement for valuation). The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

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Income and expenditure

2. Donations and legacies: income and expenditure

2025 2025 2025 2024
Unrestricted Restricted Total Total
£'000 £'000 £'000 £'000
Income from donations and legacies:
Individuals 29,516 959 30,475 31,750
Donated goods and services 697 - 697 409
Charitable foundations 1,070 2,579 3,649 3,414
Corporate donors 1,219 4,435 5,654 8,384
Lottery 2,198 - 2,198 2,172
Legacies 6,163 792 6,955 7,207
Total 40,863 8,765 49,628 53,336
Expenditure on raising donations and legacies:
Direct staff costs 7,463 117 7,580 7,598
Direct non-staff costs 9,042 210 9,252 8,733
Allocated support costs 2,239 76 2,315 2,238
Total 18,744 403 19,147 18,569

Shelter has been notified of legacies with an estimated value of £4.79m (2024: £4.29m), which have not been included in income for the year ended 31 March 2025, because either probate has not been received or Shelter is not satisfied that the amount receivable can be reliably measured.

Unrestricted non-staff costs of raising donations and legacies are primarily the costs of developing and distributing fundraising materials, and allocated support costs (see note 7).

3. Retail operations: income and expenditure

2025 2025 2025 2024
Unrestricted Restricted
funds funds Total Total
£'000 £'000 £'000 £'000
Income from retail operations:
Donated goods 12,069 - 12,069 12,129
Purchased goods 301 29 330 408
Other 431 - 431 440
Total 12,801 29 12,830 12,977
Expenditure on retail operations:
Direct staff costs 5,821 - 5,821 5,661
Direct non-staff costs 5,821 - 5,821 5,863
Allocated support costs 3,083 106 3,189 3,080
Total 14,725 106 14,831 14,604
Net income/(loss) available for charitable
application		 (1,924) (77) (2,001) (1,627)

The retail chain made a gross contribution available for charitable application of £1.19m (2024: £1.45m) in the year ended 31 March 2025. After the application of support cost allocation (see note 7) the chain made a net loss of £2.00m (2024: £1.62m).

Income saw a reduction of £147,000 from 2024 (1%). The decrease in contribution was the result of a further increase in direct costs totalling £11.64m (2024: £11.52m, see note 7), which were driven up by the continued inflationary impact on staff wages and operating costs.

Other retail income primarily relates to stock ineligible for resale which is instead sold to recyclers of used materials.

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4. Income from investments

2025 2025 2025 2024
Unrestricted Restricted £'000 £'000
£'000 £'000 £'000
Interest on cash at bank 261 - 261 98
Dividends from listed securities - - - 107
Total 261 - 261 205

5. Income from charitable activities

2025 2025 2025 2024
Unrestricted Restricted Total Total
£'000 £'000 £'000 £'000
Central government grants and contracts
Scottish Government grants - 809 809 735
Ministry of Justice contracts 775 - 775 652
Ministry of Housing, Communities and Local Government grants
and contracts - 1,584 1,584 1,476
Other public body grants and contracts
Legal Aid agency contracts 170 1,808 1,978 1,933
Local authority grants and contracts 3,013 890 3,903 3,761
National Lottery grants - 11 11 98
Other agencies grants and contracts 124 216 340 534
Total statutory grant and contract income 4,082 5,318 9,400 9,189
Income from training and resources for housing professionals 1,376 336 1,712 1,771
Other charitable activities 1,626 301 1,927 2,179
Total income from charitable activities 7,084 5,955 13,039 13,139

Grant and contract income contributes towards housing advice and support, and training and resources for housing professionals. Other income is primarily comprised of grants from organisations which do not fall into any of the categories above, for example grantgiving charities. Other income does not include trusts and foundations, as income from these bodies is included under donations and legacies (see note 2).

In addition to the income shown in this note, Shelter also received £1.7m (2024: £1.4m) on behalf of partner organisations, to whom these funds were passed. This is not shown as income and expenditure as Shelter acted as an agent in regards to these funds. As at 31 March 2025, Shelter owed £81,600 to partners (2024: Shelter owed £158,000 to partners) in relation to these funds.

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6. Contracts and grants from local authorities

Listed below are grants and contracts from local authorities in excess of £2,000, recognised in the year ended 31 March 2025. The list is prepared in compliance with Section 37 of the Local Government and Housing Act 1989.

Income Expenditure
2025 2025
Funder Purpose of funding £'000 £'000
District, borough and county councils in England and Wales:
Blackburn with Darwen Borough Council Provides debt, welfare benefit and housing advice for
residents of the borough.		 258 216
To enable the secure sharing of service user data to
Blackburn with Darwen Borough Council assist with driving up standards of accommodation and 120 102
support provided in supported accommodation.
Blackburn with Darwen Borough Council Provides welfare and debt information and advice
services within the borough.		 2 0
Provides a free, impartial confidential advice to the
Borough Council of Kings Lynn & West
Norfolk		 residents of the district of King's Lynn & West Norfolk
regardless of race, religion, gender, sexual orientation,		 68 57
age, marital status or disability.
Borough Council of Kings Lynn & West
Norfolk		 To support ex-offenders to access the private rental
sector with the ambition of supporting them into
sustainable accommodation.		 64 68
Provide a Programme Coordinator for Dorset Rough
Dorset Council Sleeping Drug and Alcohol Treatment Programme on
behalf of Dorset Council in order for the council to		 78 95
satisfy a number of health service obligations.
This contract is to provide intensive floating support to
Dorset Council 8 people who have been rough sleepers in Dorset 147 125
Council area.
Provide Family Support Packages made up of specialist
Dorset Council housing, debt, money management and welfare
benefits advice and support to ensure families are able		 114 84
to sustain their homes.
Housing advice, advocacy and support service in
Hackney Council children and family hubs for low-income families with 0 5
young children.
Intensive support for families at risk of homelessness
and funding for one advice, support and guidance
London Borough of Hackney worker to provide specialist level housing and 60 60
homelessness help to residents in Hackney via face to
face, telephone and online support.
Providing specialist prevention support for adults at
London Councils* risk of experiencing homelessness in partnership with 475 475
Thames Reach, Stonewall Housing and Praxis.
Providing specialist prevention support for adults at
London Councils risk of experiencing, homelessness in partnership with
Thames Reach, Stonewall Housing, and St Mungo's		 -8 0
from 2017 - 2022.
As part of the London Youth Gateway, Shelter provides
London Councils specialist advice, support and guidance on any housing
or homelessness issue to young people between 16 - 25		 22 26
years old.
As part of the London Youth Gateway, Shelter provides
London Councils specialist advice, support and guidance on any housing
or homelessness issue to young people between 16 - 25		 34 42
years old through a dedicated London advice line.
To provide support to voluntary homelessness service
London Councils organisations and ensure they are aware of the policies 94 82
affecting their clients.

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To provide a traineeship programme that provides
Manchester City Council supported employment opportunities for people who 110 44
have a lived experience of multiple disadvantages.
This is a continuation and expansion of the existing
Manchester City Council work we do in Manchester to support people
experiencing multiple disadvantages (previously		 370 364
Changing Futures programme).
Norfolk City Council Manage and deliver part of Norwich City Council's social
welfare information, advice and advocacy service.		 34 0
Bournemouth, Christchurch and Poole
Council		 Transformation project for Bournemouth, Christchurch
and Poole.		 5 273
Public Health England funding via Dorset
Council		 Provides support for Rough Sleepers Drug and Alcohol
Treatment Programme on behalf of Dorset Council.		 11 0
Public Health England funding via
Sheffield City Council		 To improve support and outcomes for people
experiencing rough sleeping who have drug and alcohol
dependence needs.		 103 103
Provides both practical assistance and support to help
people who are at risk of losing their home, and those
Sheffield City Council who have been homeless to recover quickly, settle into 897 885
their accommodation and sustain a positive lifestyle in
the community.
A specialist non-clinical support service for people with
Sheffield City Council drug and alcohol misuse in a vulnerable housing 334 331
situation.
To provide specialist housing advice for residents of
safe accommodation, to work alongside the providers
Sheffield City Council of refuge and safe zones accommodation, and to 29 26
ensure that people receive resettlement support to
safely move on from safe accommodation to home.
To provide specialist housing advice for residents of
safe accommodation, to work alongside the providers
Sheffield City Council of refuge and safe zones accommodation, and to 7 0
ensure that people receive resettlement support to
safely move on from safe accommodation to home.
Westminster Borough Council Provision of frontline housing advice, homelessness
prevention and support services.		 451 256
Total 3,879 3,719

*The London Councils funded project that was delivered by Shelter in partnership with Thames Reach, Stonewall Housing and St Mungo's finished in the financial year 2021/22. In financial year 2021/22 Shelter underspent by £8,005. This underspend was repaid to London Councils in financial year 2024/25.

Local authorities in Scotland:

Independent advocacy in relation to housing issues for 25 24
North Lanarkshire Council eligible people in North Lanarkshire.
Total 25 24
De minimis contracts and grants:
Various Othergrants and contracts: income <£2,000 2 1
Total 2 1

Note that the table above excludes funds that Shelter received on behalf of partner organisations, to whom these funds were passed. This is not shown as income and expenditure as Shelter acted as an agent in regards to these funds.

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London Councils Grant Summary Grant awarded (£) Grant spent (£)
Lead partner – Shelter 474,584 474,584
Delivery partners: - -
Thames Reach 217,406 217,406
Praxis 108,466 108,466
Stonewall Housing 123,027 134,347
Delivery partner sub-total 448,899 460,219
Grand total 923,483 934,803
Expenditure on: Grant awarded (£) Grant spent (£)
Staffing 727,313 753,720
Running cost * 57,674 49,905
Premises cost 37,372 28,150
Central overheads 101,124 103,027
Total 923,483 934,803

*Running cost is comprised of travel and subsistence, IT and communication, translation, direct office cost, marketing cost, training cost, recruitment cost and client-related cost.

Shelter received £923,483 from London Councils during financial year 2024/25.

Shelter works in partnership with other organisations to deliver this project. As lead partner, Shelter receives all income from London Councils and distributes it to the other partners.

Shelter has paid a total of £448,899 to partner organisations in 2024/25, as shown in the table above.

The entirety of the grant, including the portion retained by Shelter and that distributed to partners, has been spent in accordance with the grant agreement.

Total overspend on this project is £11,320. Shelter, Thames Reach and Praxis spent the grant amount awarded. Stonewall overspent by £11,320.

In financial year 2021/22 Shelter underspent by £8,005. This underspend was repaid to London Councils in financial year 2024/25.

For the 2022/23 Section 37 disclosure in the accounts, there was an error in the grant spent by Praxis. The Section 37 disclosure should have stated that Praxis had spent £98,147 and had underspent by £2,457. The disclosure should also have stated that the total grant spent was £973,185 and total overspend on the project was £49,672.

For the 2023/24 Section 37 disclosure in the accounts, there was an error in the grant spent by Stonewall. The Section 37 disclosure should have stated that Stonewall had spent £124,901 and had overspent by £8,399. The disclosure should also have stated that the total grant spent was £937,500 and total overspend on the project was £24,733.

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7. Direct and apportioned costs

(a) Breakdown of direct costs and apportioned support costs by type

Direct costs Apportioned
support costs		 Total costs
2025		 Total costs
2024
£'000 £'000 £'000 £'000
Expenditure on:
Income generation
Raising donations and legacies 16,832 2,315 19,147 18,569
Retail operations 11,643 3,188 14,831 14,604
Charitable activities
Services:
National services 5,695 1,884 7,579 9,368
Community services 10,760 4,429 15,189 16,719
Legal services 4,219 1,487 5,706 6,352
Telephone and online advice services 4,384 1,892 6,276 6,644
Communication, policy and campaigns 7,873 1,993 9,866 9,314
Lived experience insight 897 415 1,312 1,084
Total expenditure on charitable activities 33,828 12,100 45,928 49,481
Total direct and apportioned costs 62,303 17,603 79,906 82,654

Direct costs are directly attributable to the relevant department. Indirect support costs are apportioned on the basis of full-time equivalent staff numbers. Support costs are further broken down below.

(b) Breakdown of apportioned support costs

2025 2024
£'000 £'000
Human resources 2,541 2,184
Equity, inclusion and culture 2,004 1,858
Finance 1,950 2,057
Tech and data 7,226 8,172
Facilities 2,234 2,279
Brand, advertising and in-house creative 695 811
Other corporate costs 953 680
Total apportioned support costs 17,603 18,041

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8. Governance costs

2025 2024
£'000 £'000
Fees payable to the external auditors for the audit of the group annual accounts 83 109
Fees payable to the external auditors for non-audit services 37 5
Internal audit 43 63
Trustee expenses, insurance and recruitment 32 59
Board and committee support costs* 59 56
Total 254 292

*These costs reflect a proportion of the pay costs of the CEO, directors and support staff who support the Board and governing committees.

Governance costs are the costs of ensuring that Shelter is well managed and run. These include any costs relating to the Board of Trustees, who share ultimate responsibility for governing Shelter; and the cost of internal and external audit, which test Shelter's controls, processes and financial statements to help ensure good governance is in place.

9. Staff costs

Disclosure note on directors’ costs

The key management personnel of the charity comprises trustees and members of the Executive Leadership team. Trustees are not remunerated. The total cost of employing the charity's Executive Leadership team during the year, including employer's social security and pension contributions, was £1,036,285 (2024: £971,937). There are adequate systems in place to manage expenses and these do not form part of directors' remuneration.

The CEO's annual salary was £147,491 (2024: £145,311). Shelter's median salary was £34,397 (2024: £33,417), which represents a ratio against the highest salary of 4.29:1 (2024: 4.35:1). Shelter believes in and is committed to equal opportunities and offering fair pay and conditions. Shelter recognises that the attainment of equitable pay requires a pay system that is transparent and based on objective criteria. Shelter aims to pay staff a salary that is at the market median position of the relevant job market and benchmarks its salaries against service providers providing similar frontline services and with charities of comparable size and with comparable roles to ours.

Staff costs 2025 2024
£’000 £’000
Wages and salaries 43,138 43,886
Social security costs 4,377 4,380
Pension costs 3,417 3,398
Other staff-related costs 1,202 1,727
Total 52,134 53,391

Redundancy and termination costs during the year were £95,906 with £26,743 due to be paid after year end (2024: £430,812, with £16,707 paid after year end).

Average staff headcount 2025 2024
No. No.
Raising donations and legacies 126 121
Retail operations 199 191
Charitable activities
National services 107 115
Community services 249 274
Legal services 86 101
Telephone and online advice services 107 116
Lived experience insight 25 20
Campaigning 67 65
Communication, policy and campaigns 42 39
Support functions 218 195
Total 1,226 1,237

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The number of employees who received emoluments (excluding pensions) in the following ranges were:

2025 2024
No. No.
£60,001 to £70,000 31 29
£70,001 to £80,000 11 13
£80,001 to £90,000 2 4
£90,001 to £100,000 1 1
£100,001 to £110,000 4 4
£110,001 to £120,000 2 1
£120,001 to £130,000 1 2
£130,001 to £140,000 1 -
£140,001 to £150,000 - 1
£150,001 to £160,000 1 -

Volunteer contribution

Shelter has been supported by volunteers over the year in our shops, in our offices and at events. We would not have been able to achieve what we have done without their tremendous efforts.

2025 2024
No. No.
Group number of volunteers 2,652
 2,667

10. Leasing commitments – group and charity

As at 31 March 2025, the group and charity's total future minimum lease payments under non-cancellable operating leases fall due for payment as follows:

2025 2024
Land and
buildings		 Other Land and
buildings		 Other
£'000 £'000 £'000 £'000
Operating lease payments falling due:
within one year 2,775 92 3,000 140
between one and five years 4,919 130 6,032 105
in more than fiveyears 357 - 400 -
Total lease commitments 8,051 222 9,432 245
The net income for the year is stated after charging:
Rental costs relating to operating leases 3,074 178 3,127 218

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Assets

11. Fixed assets – group and charity

a. Tangible fixed assets

Freehold buildings
and improvements		 Furniture and
fittings		 Computer and Office
equipment		 Total
£'000 £'000 £'000 £'000
Cost or valuation
At 1 April 2024 7,000 7,440 7,349 21,789
Additions - 289 249 538
Transfers - - - -
Disposals - (88) (307) (395)
At 31 March 2025 7,000 7,641 7,291 21,932
Depreciation
At 1 April 2024 (993) (5,387) (6,705) (13,085)
Charge for the year (93) (1,091) (461) (1,645)
Transfers - - - -
Disposals - 88 306 394
At 31 March 2025 (1,086) (6,390) (6,860) (14,336)
0
Net book values
At 31 March 2025 5,914 1,251 431 7,596
At 1 April 2024 6,007 2,053 644 8,704

Freehold buildings and improvements are comprised of Shelter's support office on Old Street in London. The cost of £7,000,000 is the market value as at 31 March 2014, which was taken to be deemed cost on transition to FRS102. This valuation includes £2,333,333 of land which is not depreciated.

b. Intangible fixed assets

Assets under
development		 Computer
Software		 Total
£'000 £'000 £'000
Cost or valuation
At 1 April 2024 - 3,171 3,171
Additions 75 - 75
At 31 March 2025 75 3,171 3,246
Depreciation
At 1 April 2024 - (2,546) (2,546)
Charge for theyear - (621) (621)
At 31 March 2025 - (3,167) (3,167)
Net book values
At 31 March 2025 75 4 79
At 1 April 2024 - 625 625

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12. Investments – group and charity

Group Group Charity Charity
2025 2024 2025 2024
Total Total Total Total
£’000 £’000 £’000 £’000
Listed investments:
Investments at market value at 1 April 2024 - 5,918 - 5,918
Additions - - - -
Disposals - (5,991) - (5,991)
Net gain/(loss) for the year - 73 - 73
Listed investments - - - -
Cash investments 3,006 4,160 3,006 4,160
Investment in subsidiary - - 80 80
Total investments at 31 March 2025 3,006 4,160 3,086 4,240
Historical cost: listed investments as at 31 March 2025 - - 80 80
Cash investments:
Liquidity funds 3,001 3,990 3,001 3,990
Cazenove cash management 5 170 5 170
Total 3,006 4,160 3,006 4,160

13. Debtors

Group Charity
2025 2024 2025 2024
£’000 £’000 £’000 £’000
Trade debtors 3,443 4,239 2,709
 3,984
Amounts due from subsidiary companies - - 1,471
 1,904
Taxation recoverable - Gift Aid 854 1,147 854
 1,147
Taxation recoverable - VAT - - -
 -
Other debtors 1,692
 1,577 1,692
 1,577
Prepayments 2,048 1,790 2,048
 1,790
Accrued income 4,623 5,737 4,623
 5,079
Total debtors 12,660
 14,490 13,397
 15,481

Accrued income contains accrued legacies of £4.54m (2024: £4.81m).

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Liabilities

14. Creditors: amounts falling due within one year

Group Charity
2025 2024
2025		 2024
£’000 £’000
£’000		 £’000
Trade creditors 1,740 1,688
1,740		 1,688
Amounts due for taxation and social security 1,076 3,857
1,076		 3,857
Other creditors 74 68
74		 68
Accruals 3,097 2,491
3,089		 2,484
Deferred income 750 444
750		 420
Total creditors 6,737 8,548
6,729		 8,517
Movement on deferred income Group Charity
2025 2024
2025		 2024
£’000 £’000
£’000		 £’000
Deferred income brought forward 444 228
420		 228
Realised during year to 31 March 2025 (444) (228)
(420)		 (228)
Deferred inyear to 31 March 2025 750 444
750		 420
Deferred income carried forward 750 444
750		 420

Deferred income is comprised of:

15. Provision for liabilities and charges – group and charity

2025 2024
£’000 £’000
Balance at 1 April 2024 2,231 2,840
Utilised during the year (113) (89)
Additions/(disposals) in theyear (49) (520)
Balance at 31 March 2025 2,069 2,231

All dilapidation costs are provided for. Leases on Shelter's shops and offices usually include a contractual obligation for Shelter to return the property to its original condition at the end of the lease. The costs of doing this are estimated by a chartered surveyor at the commencement of the lease. Shelter recognises a provision and corresponding cost at that point. The provision is reviewed throughout the lease term. Dilapidation costs are payable on lease termination.

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16. Statement of funds

Balance at 1
April 2024		 Income and
endowments		 Total
expenditure		 Net loss on
investments		 Transfers Balance at
31 March
2025
£’000 £’000 £’000 £’000 £’000 £’000
Unrestricted income funds:
General funds 7,956
Total general funds 7,956 62,211 (64,075) - 1,654 7,746
Designated funds:
Revaluation reserve 4,745 - - - (93) 4,652
Property and fixed asset fund 4,584 - - - (1,561) 3,023
Total designated funds 9,329 - - - (1,654) 7,675
Total unrestricted funds 17,285 62,211 (64,075) - - 15,421
Restricted income funds (note 17) 5,547 14,749 (15,831) - - 4,465
Permanent endowment-John Rees Fund 39 - - - - 39
Total restricted funds 5,586 14,749 (15,831) - - 4,504
Total funds 22,871 76,960 (79,906) - - 19,925

Revaluation reserve and property and fixed asset fund

Prior to 2014, Shelter held the Old Street support office at market value, as determined by periodic valuations. Changes in value were recognised in the revaluation reserve. On transition to FRS102, the market value at 31 March 2014 (£7m) was taken to be deemed cost and the support office has since been valued at historical cost. The revaluation reserve therefore holds the total value of revaluations to 31 March 2014, less depreciation charged on the building since.

The property and fixed asset fund holds the remaining value of fixed assets not held in the revaluation reserve. Taken together, these two funds equal the net book value of fixed assets on the balance sheet. Fixed assets are held in designated funds in recognition of the fact that they are used by Shelter on an ongoing basis to deliver its activities.

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17. Statement of restricted funds

Restricted Fund Name Funder Purpose of funding Balance 1 April
2024
£,000		 Income
£,000		 Expenditure
£,000		 Balance 31
March 2025
£,000
DIY Skills Advisers B&Q Plc and Kingfisher
Plc		 Providing funding and in-kind support for DIY skills advice
and support services.
-		 615 (615) -
Homelessness Pan-London
Umbrella (PLUS) Project		 London Councils Providing training and support to London local
authorities and the voluntary sector in order to increase
capacity and knowledge across the sector.		 3 94 (82) 15
Supporting Tenancies,
Accommodation and
Reconnections		 London Councils Providing specialist prevention support for adults at risk
of experiencing homelessness.		 8 467 (475) -
Housing Law & Debt Advice
(Tayside & Borders) -
Scottish Housing Law		 Scottish Legal Aid Board Representation and advice services for people facing
court action for mortgage or tenancy repossession.		 (2) 283 (281) -
Service
Empty Homes Scottish Government To bring empty homes in Scotland back into use through
the establishment of Empty Homes Officers.		 26 426 (389) 63
Specialist Adviser Support Money and Pensions To provide professional support to debt advisers in
Services - Money Advice Service (MaPS) and the England and Wales through advice services and resource 21 323 (343) 1
Service Welsh Government production.
To advise and support residents of Hackney in
Hackney Advice Grant London Borough of
Hackney		 overcoming housing problems and challenges. To
support the development of an advice network in the		 (4) 60 (60) (4)
district, one which shares resources and expertise.
Sheffield - Domestic Abuse
Housing Support Service		 Philip King Charitable
Trust/Evan Cornish
Foundation		 Providing support to service users in Sheffield fleeing
domestic abuse.		 37 - (70) (33)
Restricted to Sheffield
Rough Sleeping, Drug, and
Alcohol Service		 Sheffield City Council To provide housing support to entrenched rough sleepers
to help them move into independent living.
2		 103 (103) 2
Providing advice to families in deprived communities
Birmingham Families Oak Foundation across Birmingham, and building the capacity of 174 - (174) -
grassroots organisations to support their communities.
Funding over three years (September 2022 to August
2025) to fund Shelter England and Scotland (in
RBL Homeless Armed
Forces		 The Royal British Legion partnership with Shelter Cymru and Housing Rights NI) to
train RBL advisers to advise veterans directly on housing		 186 235 (293) 128
issues, such as homelessness, accessing housing,
eligibility, advocacy and more.

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Funds GROW Traineeships across Greater Manchester,
Changing Futures GROW
Campus - Greater
Manchester Combined
Authority		 Greater Manchester
Combined Authority
(GMCA)		 including at the GMCA and four local authority areas.
Provides meaningful employment roles for people who
have experienced multiple disadvantages and supports
systemic change by removing barriers to employment
and creating opportunities for local authorities to co-		 1 110 (44) 67
produce and co-deliver their services.
Funding over two-and-a-half years (April 2022 -
TOAS Triage Project Fidelity UK Foundation September 2024) to set up an automated triage system
for Shelter's helpline and webchat, so that only priority		 118 - (118) -
calls get through to advisers.
VCFS Lot 1 Training Department for Levelling
Up, Housing and
Communities (DLUHC)		 To build the capacity, skills and knowledge of a range of
frontline staff and volunteers in England through the
provision of effective, quality homelessness and housing
training, information resources and skills development.		 - 738 (738) -
The specialist advice team to deliver housing,
homelessness and welfare benefit advice via telephone,
Department for Levelling webchat and digital tools, to new and existing frontline
VCFS Lot 2 Advice Line Up, Housing and audiences. This service will be for professional and - 846 (846) -
Communities (DLUHC) volunteer use only and it will not deliver advice directly to
the general public or people who are at risk of, or are
experiencing homelessness.
To support those service users going through transition
Birmingham FIRST Peer Birmingham and Solihull from secure care into the community, or those living in
Mentor Services - St Mental Health Foundation the community experiencing mental health concerns with
-		 144 (125) 19
Andrews Trust (NHS England) improving engagement with services and resilience in the
community.
A Future Foundation for
Families		 National Lottery
Community Fund		 To work with families and their supports in the Glasgow
city area to effect positive changes at individual and
system level.		 95 - (95) -
Network Rail Southern
Region		 Network Rail Outreach person-centred support for people who are
sleeping rough in train stations.		 42 37 (79) -
For Shelter’s Hardship Fund, allowing clients to purchase
Hardship Fund (England) Albert Hunt Trust essential items and emergency accommodation when 97 90 (90) 97
they reach crisis point.
Improving Outcomes
Through Legal Support		 The Access to Justice
Foundation		 For Shelter’s National Legal team, to provide specialist
legal support to clients from across the country.		 (2) 115 (113) -
Funding development of new digital advice pages
focused on helping people to become more financially
Restricted to HSBC Delivery
HSBC		 resilient. Funding our housing, debt, welfare and benefits
2,021		 1,100 (1,714) 1,407
advice offering in England (Birmingham and Lancashire)
and Scotland.

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Children in Temporary
Accommodation Research
(Scotland)		 Multiple Donors Research report examining the impact of temporary
accommodation on children in Scotland. Findings due to
be published in December 2024 and report will support
Shelter Scotland’s advocacy and campaigning efforts.		 111 20 (131) -
My Health Matters is a peer-led training programme that
puts those who have faced homelessness and
Manchester HHPA The Michael Bishop
Foundation		 experienced multiple disadvantages in the past at the
very heart of the programme. Therefore, providing a
strengths-based, person and community-centred		 42 129 (116) 55
approach to improving health and wellbeing of people
who are homeless in Manchester.
Funding our GROW programme to help people with lived
Societe Generale GROW Société Générale experience of homelessness into employment through
access to 12-month paid placements with work, training		 593 386 (461) 518
and personal development opportunities.
Funding a new digital advice project to improve clients’
HG Digital Advice HG UKI Ltd accessibility to our damp and mould advice on web and 131 - (101) 30
mobile.
Bristol and Sheffield Family
Services		 Multiple donors Providing specialist support and advice to families who
are homeless or at risk of homelessness in Bristol and
Sheffield.		 - 274 (344) (70)
As part of the GDN funding, we will develop 4 - 6 new
products and practice guides that update, streamline and
simplify the advice that we currently provide to other
Content For Professionals Gas Distribution Networks
professionals within the housing sector. Topics would
include homelessness prevention, home safety, benefits		 - 113 - 113
entitlement, arrears management and defending
evictions. Content will also signpost to energy efficiency
advice online.
TOAS Philanthropy Support
(2025/26)		 The Hands Family Trust TOAS is integral to our organisational strategy. As an
established service it works to support local and national
clients.		 - 485 - 485
South Tyneside Housing
First Service		 The Barbour Foundation Supporting clients who have experienced long-term
homelessness into secure housing and providing wrap-
around support to enable them to sustain their tenancy.		 - 100 - 100
Manchester City Council Provision of high-quality housing information, advice,
City Wide Advice Service
(CWAS)		 (sub-contracted to
Shelter via Citizens		 and specialist casework; empowering and enabling
Manchester people to make choices that prevent or		 - 193 (188) 5
Advice Manchester) resolve housing and homelessness issues.

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An early intervention and prevention project, and one of
our core advice offers in Manchester. @Home is run by
our Housing Rights Workers to prevent homelessness by
@HOME Project Co-operative Bank working with schools in Manchester (currently in the - 74 12 86
north Manchester area), in the heart of respective
communities to improve access to housing and
homelessness services for families and children.
Restricted - Scotland Multiple donors Small donations restricted to specific areas of work in
Scotland.		 - 1,373 (1,373) -
Restricted - Services Multiple donors Small donations restricted to specific areas of work in
England.		 117 5,324 (5,441) -
Other funds: income <£60k*
Multiple donors		 Various 1,730 492 (841) 1,381
Total 5,547 14,749 (15,831) 4,465

Restricted funds with income below £60,000 have been grouped in a single row, unless Shelter is required to disclose them separately under the terms of the grant agreement.

Included in the note is the following projects funded by the National Lottery Community Fund:

A Future Foundation for Families, for which Shelter carried forward £94,704.18 into 2024/25 and spent £94,704.18.

Shelter's Family Services delivered across London, Bristol, and Sheffield. In 2024/25, Shelter received £446,712 from the National Lottery towards these services.

Included in the Other funds: income <£60,000 Multiple Donors income and expenditure is the Safer Sheffield Partnership. In 2024/25, Shelter carried forward a balance of £2,329.41, received additional funding of £6,600 and spent £8,929.41.

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18. Net assets between funds – group

Unrestricted
funds		 Restricted
funds		 Endowment
funds		 Total
£'000 £'000 £'000 £'000
Fund balances as at 31 March 2025 are represented by:
Tangible fixed assets 7,675 - -
 7,675
Investments 2,967 - 39
 3,006
Net current assets 6,848 4,465 -
 11,313
Provisions (2,069) - -
 (2,069)
Total net assets 15,421 4,465 39
 19,925

Other information

19. Related party transactions

Trustees are not entitled to, and did not receive, any remuneration in respect of their services throughout the year. Travel expenses incurred by trustees or on behalf of trustees in respect of Shelter meetings amounted to £4,367 (2024: £5,951) during the year. The number of trustees incurring expenses during the year was seven (2024: eight).

Shelter received donations totalling £1,983 from trustees during the year, all unrestricted (2024: £20,540).

During the year ended 31 March 2025 the following related party transactions were recognised:

Polly Neate is Chair and Andy Harris is a trustee of the charity Become, which was invoiced £614 for office rental during the year (2024: £546 for office rental). No balance was owed to Shelter as at 31 March 2025 (2024: £nil).

Alison Watson is a trustee of the charity Change Mental Health, which was invoiced £900 for training during the year (2024: £nil). No balance was owed to Shelter as at 31 March 2025 (2024: £nil).

Chris Pitt is CEO of First Direct, which was invoiced £7,800 for a licence fee, £6,000 for an event fee and £26,499 for helpline referrals during the year (2024: £nil). No balance was owed to Shelter as at 31 March 2025 (2024: £nil).

Shelter Trading Limited is a trading subsidiary of Shelter. During the year ended 31 March 2025 Shelter received Gift Aid of £29,399 from Shelter Trading Limited (2024: £430,835). A balance of £1,471 was owed to Shelter by Shelter Trading Limited as at 31 March 2025 (2024: £1,904). A service charge by Shelter to Shelter Trading Limited was made of £728,190 (2024: £794,797) for the share of Shelter staff time spent on the activities of Shelter Trading Limited.

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

20. Trading subsidiary

The principal activities of Shelter Trading Limited (STL) Company No. 2573404 in the period under review were the sale of new goods via Shelter’s retail chain and managing the corporate sponsorship activities of Shelter, the National Campaign for Homeless People Limited.

Audited financial statements have been prepared for STL and all taxable profit is gifted to Shelter.

Shelter Trading Limited 2025 2024
£’000 £’000
Total income 1,596 2,158
Cost of sales (146) (206)
Gross profit 1,450 1,952
Selling and distribution costs (1,280) (1,292)
Administration costs (141) (229)
Netprofitgifted to Shelter 29 431

As at 31 March 2025, Shelter Trading Limited had total assets of £1,574,647 (2024: £2,030,850) and total liabilities of £1,479,533 (2024: £1,935,737).

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Prior year disclosures

21. Prior year disclosures

21(a) Consolidated statement of financial activities for the year ending 31 March 2024 (incorporating income and expenditure accounts)

Unrestricted Restricted
Notes funds funds Total
2024
£'000 £'000 £'000
Income from:
Donations and legacies 2 43,459 9,877 53,336
Retail and commercial operations 3 12,977 - 12,977
Charitable activities:
Grants and contracts 5 3,986 4,812 8,798
Training and resources for housing professionals 5 1,169 993 2,162
Other charitable activities 5 1,499 680 2,179
Total income on charitable activities 6,654 6,485 13,139
Investments 4 205 - 205
Other trading income 1,674 - 1,674
Total income 64,969 16,362 81,331
Expenditure on:
Raising donations and legacies 2 18,355 214 18,569
Retail and commercial operations 3 14,539 65 14,604
Charitable activities:
Services 27,310 11,747 39,057
Communication, policy and campaigns 6,693 2,646 9,339
Lived experience insight 1,057 27 1,085
Total expenditure on charitable activities 35,060 14,420 49,481
Total expenditure 7 67,954 14,699 82,654
Net income / (expenditure) before investment gains / (losses) (2,985) 1,663 (1,323)
Net gains/(losses) on investments 12 73 - 73
Net income / (expenditure) for the year (2,912) 1,663 (1,250)
Reconciliation of funds:
Fund balances at the start of the year 16 20,210 3,911 24,121
Fund balances at the end of the year 16 17,298 5,574 22,871

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21(b) Donations and legacies: income and expenditure (prior year)

2024 2024 2024
Unrestricted Restricted Total
£'000 £'000 £'000
Income from donations and legacies:
Individuals 30,632 1,118 31,750
Donated goods and services 409 - 409
Charitable foundations 1,431 1,983 3,414
Corporate donors 1,940 6,444 8,384
Lottery 2,172 - 2,172
Legacies 6,875 332 7,207
Total 43,459 9,877 53,336
Expenditure on raising donations and legacies:
Direct staff costs 7,537 61 7,598
Direct non-staff costs 8,619 114 8,733
Allocated support costs 2,199 39 2,238
Total 18,355 214 18,569

Shelter has been notified of legacies with an estimated value of £4.29m (2023: £6.30m) which have not been included in income for the year ended 31 March 2024, because either probate has not been received or Shelter is not satisfied that the amount receivable can be reliably measured.

Unrestricted non-staff costs of raising donations and legacies are primarily the costs of developing and distributing fundraising materials, and allocated support costs (see note 7).

21(c) Retail operations: income and expenditure (prior year)

2024 2024 2024
Unrestricted Restricted Total
£'000 £'000 £'000
Income from retail operations:
Donated goods 12,129 - 12,129
Purchased goods 408 - 408
Other 440 - 440
Total 12,977 - 12,977
Expenditure on retail operations:
Direct staff costs 5,661 - 5,661
Direct non-staff costs 5,851 12 5,863
Allocated support costs 3,027 53 3,080
Total 14,539 65 14,604
Net income / (loss) available for charitable application (1,562) (65) (1,627)

21(d) Income from investments (prior year)

2024 2024 2024
Unrestricted Restricted £'000
£'000 £'000 £'000
Interest on cash at bank 98 - 98
Dividends from listed securities 107 - 107
Total 205 - 205

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21(e) Contracts and grants from local authorities (prior year)

Funder Purpose of funding Income Expenditure
2024 2024
£’000 £’000
District, borough and county councils in England and Wales:
Birmingham City Council Provides a single point of access for single people 38 17
and childless couples who are homeless or at risk
of homelessness.
Blackburn with Darwen Borough Council Provides debt, welfare benefit and housing advice 184 115
for residents of Blackburn with Darwin Council.
Blackburn with Darwen Borough Council To enable the secure sharing of service user data 120 73
to assist with driving up standards of
accommodation and support provided in
supported accommodation.
Blackburn with Darwen Borough Council Provides welfare and debt informationand advice 43 52
services within the Borough of Blackburn with
Darwen.
BoroughCouncil of Kings Lynn & West Norfolk Provide free, impartial confidential advice to the 69 68
residents of the district of King's Lynn & West
Norfolk regardless of race, religion, gender, sexual
orientation, age, marital status or disability.
BoroughCouncil of Kings Lynn & West Norfolk To support ex-offenders to access the private 43 39
rental sector with the ambition of supporting them
into sustainable accommodation.
Dorset Council Provide a Programme Coordinator for Dorset 57 55
Rough Sleeping Drug and Alcohol Treatment
Programme on behalf of Dorset Council in order for
the council to satisfy a number of health service
obligations.
Dorset Council This contract is to provide intensive floating 53 80
support to 8 people who have been rough sleepers
in Dorset Council area.
Dorset Council To provide 10 properties in the Dorset Council area 81 79
for rough sleepers with very high/complex needs
t h a t a r e best met though the provision of very
intensive wrap-around support.
Dorset County Council Provide Family Support Packages made up of 110 104
specialist housing, debt, money management and
welfare benefits advice and support to ensure
families are able to sustain their homes.
Liverpool City Council To provide specialist housing advice and support -29 100
to families residing in Liverpool to secure and
successfully maintain suitable and affordable
accommodation for their family, preventing
homelessness.
London Borough Of Hackney Intensive support of families at risk of 60 64
homelessness funding, and for one advice,
support and guidance worker to provide specialist
level housing and homelessness help to residents
in Hackney via face to face, telephone and online
support.
London Councils Providingspecialist prevention supportforadults 457 457
at risk of experiencing homelessness in
partnership with Thames Reach, Stonewall
Housing and Praxis.

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London Councils* Supporting migrants and refugees with No -5 -
Recourse to Public Funding, as part of Supporting
Tenancies, Accommodation and Reconnections
project.
London Councils As part of the London Youth Gateway, Shelter 21 12
provides specialist advice, support and guidance
on any housing or homelessness issue to young
people between 16 - 25 years old.
London Councils As part of the London Youth Gateway, Shelter 34 43
provides specialist advice, support and guidance
on any housing or homelessness issue to young
people between 16 - 25 years old through a
dedicated London advice line.
London Councils To provide support to voluntary homelessness 69 73
service organisations and ensure they are aware of
the policies affecting their clients.
Manchester City Council To deliver aninnovative support programme for 193 260
people with complex needs in Manchester who are
at risk of homelessness.
Manchester City Council To provide a traineeship programme which 137 232
provides supported employment opportunities for
people who have a lived experience of multiple
disadvantages.
Norfolk City Council Manage and deliver part of Norwich City Council's 26 -
social welfare information, advice and advocacy
service.
Public Health England funding via Sheffield City To improve support and outcomes for people 110 133
Council experiencing rough sleeping who have drug and
alcohol dependence needs.
Sheffield City Council Provides bothpractical assistance and support to 898 1,056
help people who are at risk of losing their home,
and those who have been homeless to recover
quickly, settle into their accommodation and
sustain a positive lifestyle in the community.
Sheffield City Council A specialist non-clinical support service for people 337 387
with drug and alcohol misuse in a vulnerable
housing situation.
Sheffield City Council To provide specialist housing advice for residents 54 49
of safe accommodation, to work alongside the
providers of refuge and safe zones
accommodation, and to ensure that people receive
resettlement support to safely move on from safe
accommodation to home.
Sunderland City Council To contribute to preventing homelessness in 50 45
Sunderland through the delivery of specialist
housing advice within Sunderland, hosted by
Community Housing.
Westminster Borough Council Provision of frontline housing advice, 392 350
homelessness prevention and support services.
Total 3,602 3,943

*The No Recourse to Public Funds grant finished in financial year 2021/22. Across financial years 2020/21 and 2021/22, Shelter was awarded £50,588 and spent £45,530. Shelter made a £5,058 repayment to London Councils for the No Recourse to Public Funding grant during financial year 2023/24.

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Local authorities in Scotland:
Aberdeen Council Housing advice for households at risk of homelessness 132 48
through legal proceedings.
North Lanarkshire Council Independent advocacy in relation to housing issues for 25 17
eligible persons in North Lanarkshire.
Total 157 65
De minimis contracts and grants:
Other grants and contracts: income <£2k - -
Total - -

Note that the table above excludes funds that Shelter received on behalf of partner organisations, to whom these funds were passed. This is not shown as income and expenditure as Shelter acted as an agent in regard to these funds.

Local authority grants and contracts for the prior year are shown in note 20.

London Councils

London Councils Grant Summary Grant awarded
£		 Grant spent
£
Leadpartner – Shelter 457,360 457,360
Delivery partners
Thames Reach 236,554 252,875
Praxis 102,351 102,364
Stonewall Housing 116,502 124,922
Delivery partner sub-total 455,407 480,161
Grand total 912,767 937,521
Expenditure on: Grant awarded
£		 Grant spent
£
Staffing 724,690 753,528
Running cost* 53,045 49,199
Premises cost 41,234 24,154
Central overheads 93,798 110,640
Total 912,767 937,521

*Running cost is comprised of travel and subsistence, IT and communication, translation, direct office cost, marketing cost, training cost, recruitment cost and client-related cost.

Shelter received £912,767 from London Councils during financial year 2023/24.

Shelter works in partnership with other organisations to deliver this project. As lead partner, Shelter receives all income from London Councils and distributes it to the other partners.

Shelter has paid a total of £455,407 to partner organisations in 2023/24, as shown in the table above.

The entirety of the grant, including the portion retained by Shelter and that distributed to partners, has been spent in accordance with the grant agreement.

Total overspend on this project is £24,754. Thames Reach overspent by £16,321, Shelter overspent by £nil, Stonewall Housing by £8,420 and Praxis by £13. Shelter had a B/F balance of £nil from financial year 2022/23.

The 2021/22 Section 37 disclosure confirmed that Shelter had underspent by £8,005. However, the 2022/23 Section 37 disclosure incorrectly stated that Shelter had a brought forward balance of £8,005 from 2021/22. To confirm, Shelter's underspend was not used to offset the total project overspends of £8,829 in 2021/22 or £54,311 in 2022/23 and £8,005 will be returned to London Councils. The 2021/22 Section 37 disclosure also stated that Shelter had a brought forward balance of £292 from financial year 2019/20 and this was approved by London Councils to be used in financial year 2021/22. To confirm, the £292 was entirely spent in 2021/22 on premises costs for the purposes of the grant. The 2021/22 Section 37 disclosure also stated that St Mungo's had been awarded £40,182, had spent £39,195 and underspent by £987. As a result of a St Mungo's review of balances held at the end of the 2023/24 financial year, it was determined that in 2021/22, St Mungo's had actually spent £45,244 and had therefore overspent by £5,062. The correct total 2021/22 grant spent was £1,018,373 and the correct total overspend on the project was £14,878.

The 2022/23 Section 37 disclosure cited St Mungo's as a partner instead of Praxis. To clarify, there were no payments made to St Mungo’s in 2022/23. The London Councils Grant Summary should have confirmed that in 2022/23, Praxis were awarded £100,604 awarded and spent £102,786.

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21(f) Direct and apportioned costs (prior year)

(a) Breakdown of direct costs and apportioned support costs by type

Apportioned
Direct costs support costs Total costs
2024 2024 2024
£'000 £'000 £'000
Expenditure on:
Income generation
Raising donations and legacies 16,331 2,238 18,568
Retail and commercial operations 11,524 3,080 14,604
Charitable activities
Services 28,555 10,528 39,083
Communication, policy and campaigns 7,449 1,865 9,314
Lived experience insight 754 330 1,084
Total expenditure on charitable activities 36,758 12,723 49,481
Total direct and apportioned costs 64,613 18,041 82,654

The analysis of charitable activities has been updated from the 2022/23 categories to better reflect Shelter's current activities, with prior year comparatives also updated to allow for like-for-like comparison.

Direct costs are directly attributable to the relevant department. Indirect support costs are apportioned on the basis of full-time equivalent staff numbers. Support costs are further broken down below.

Apportioned support costs include expenditure of £nil (2023: £2.14m) relating to a historic VAT liability identified during the prior year arising from an externally commissioned review of Shelter’s VAT compliance. This expenditure has been apportioned across charitable expenditure in the same manner as support fees, i.e. full-time equivalent staff numbers.

(b) Breakdown of apportioned support costs

2024
£'000
Human resources 2,184
Equity, inclusion and culture 1,858
Finance 2,057
Tech and data 8,172
Facilities 2,279
Brand, advertising and in-house creative 811
Other corporate costs 680
Total apportioned support costs 18,041

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21(g) Statement of funds (prior year)

Balance at 1
April 2023		 Income and
endowments		 Total
expenditure		 Net gains on
investments		 Transfers Balance at 31
March 2024
£’000 £’000 £’000 £’000 £’000 £’000
Unrestricted income funds:
General funds 7,937 64,969 (67,967) - 3,017 7,956
557 - - 73 (630) -
Unrealised investment gain
Total general funds 8,494 64,969 (67,967) 73 2,387 7,956
Designated funds:
Revaluation reserve 4,838 - - - (93) 4,745
Property and fixed asset fund 6,878 - - - (2,294) 4,584
Strategic investment fund
- - - - - -
Total designated funds 11,716 - - - (2,387) 9,329
Total unrestricted funds 20,210 64,969 (67,967) 73 - 17,285
Restricted income funds (note 17) 3,872 16,362 (14,687) - - 5,547
Permanent endowment-John Rees Fund 39 - - - - 39
Total restricted funds 3,911 16,362 (14,687) - - 5,586
Total funds 24,121 81,331 (82,654) 73 - 22,871

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21(h) Statement of restricted funds (prior year)

Restricted fund name Funder Purpose of funding Balance at 1 April
2023£'000		 Income£'000 Expenditure
/transfers £'000		 Balance at 31
March
2024£'000
DIY Skills Advisers B&Q Plc and Kingfisher Plc Providing funding and in-kind support for DIY skills advice
and support services.		 - 531 (531) -
Homelessness Pan-
London Umbrella (PLUS)		 London Councils Providing training and support to London local
authorities and the voluntary sector in order to increase		 7 69 (73) 3
Project capacity and knowledge across the sector.
Supporting Tenancies,
Accommodation and		 London Councils Providing specialist prevention support for adults at risk
of experiencing homelessness.		 (24) 457 (426) 7
Reconnections
Housing Law & Debt Advice
(Tayside & Borders) -
Scottish Housing Law		 Scottish Legal Aid Board Representation and advice services for people facing
court action for mortgage or tenancy repossession.		 3 273 (278) (2)
Service
Empty Homes Scottish Government To bring empty homes in Scotland back into use through
the establishment of Empty Homes Officers.		 90 398 (463) 25
Time for Change Dundee National Lottery
Community Fund		 To combine Shelter's organisational learnt experience
with the lived experience of people who have been
homeless in Dundee to better develop responses locally.		 (1) - 1 -
National Lottery
Building Better
Opportunities Motiv8 -		 Community
Fund/European Social		 Supporting disadvantaged individuals and families to
enter or re-enter education, training and/or employment.		 - 28 (28) -
Manchester Hub Fund
Transforming the Private
Rented Sector Manchester		 The Nationwide
Foundation		 Place-based project to investigate how the private rented
sector in Greater Manchester can be improved for		 36 49 (85) -
vulnerable tenants.
Specialist Adviser Support
Services - Money Advice
Service		 Money and Pensions
Service (MaPS) and
the Welsh
Government		 To provide professional support to debt advisers in
England and Wales through advice services and resource
production.		 123 579 (681) 21
National Lottery To engage and inspire disadvantaged young and hard-to-
Lancashire Building Better
Opportunities (Age of		 Community
Fund/European Social		 reach unemployed or economically inactive people and to
improve work readiness and employability of the over 50s		 - - - -
Opportunity) Fund in the Lancashire Area.

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Restricted fund name Funder Purpose of funding Balance at 1 April
2023
£'000		 Income£
'000		 Expenditure
/transfers
£'000		 Balance at 31
March 2024
£'000
Lancashire Building Better
Opportunities (Investing in
Youth)		 National Lottery
Community Fund/European
SocialFund		 To engage and inspire disadvantaged young and hard-to-
reach unemployed or economically inactive people and to
improve work readiness and employability of the over 50s in
the Lancashire Area.		 3 - - 3
National Lottery To engage and inspire disadvantaged young and hard-to-
Lancashire Building Better
Opportunities (Changing		 Community
Fund/European Social		 reach unemployed or economically inactive people and to
improve work readiness and employability of the over 50s		 (7) - - (7)
Futures) Fund in the Lancashire Area.
Norwich Social
Prescribing Service		 Norfolk County Council Linking health, social services, advice and community
resources to maximise outcomes for individuals and		 7 92 (102) (3)
reduce pressures on public services.
Our Journey Home
Glasgow		 National Lottery
Community Fund		 To prevent children and families in Glasgow becoming
homeless; to secure safe and affordable permanent		 (1) - 1 -
accommodation.
To advise and support residents of Hackney in overcoming
Hackney Advice Grant London Borough of
Hackney		 housing problems and challenges. To support the
development of an advice network in the district, one		 - 60 (64) (4)
which shares resources and expertise.
Health Now Coordinator
Greater Manchester		 Groundswell Network
Support UK		 Tackling health inequalities faced by homeless people. 26 51 (66) 11
Sheffield - Domestic
Abuse Housing Support		 Philip King Charitable
Trust/Evan Cornish		 Sheffield – Domestic Abuse Housing Support Service. 58 50 (71) 37
Service Foundation
Children in Need, The
Children In Need Family
Service Expansion		 Garfield Weston
Foundation and the Liz and		 Providing intensive support to families; going out into the
community to provide advice; training and building		 39 220 (247) 12
Terry Bramall Foundation capacity across the sector.
Restricted to Sheffield
Rough Sleeping, Drug, and		 Sheffield City Council To provide housing support to entrenched rough sleepers
to help them move into independent living.		 24 110 (132) 2
Alcohol Service
Time for Change Dundee National Lottery
Community Fund		 To combine Shelter's organisational learnt experience
with the lived experience of people who have been		 9 49 (46) 12
homeless in Dundee to better develop responses locally.
Developing a training programme and comprehensive
Restricted to HSBC
Breaking the Cycle		 HSBC advice for the financial services sector; to better support
vulnerable customers experiencing or at risk of		 79 - (75) 4
homelessness.

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Restricted fund name Funder Purpose of funding Balance at 1 April
2023
£'000		 Income£
'000		 Expenditure
/transfers
£'000		 Balance at 31
March 2024
£'000
Birmingham Families Oak Foundation Providing advice to families in deprived communities
across Birmingham and building the capacity of		 44 567 (437) 174
grassroots organisations to support their communities.
Funding for local organisations to work in partnership to
Changing Futures -
Manchester		 Manchester City Council better support those who experience multiple
disadvantages, including homelessness, substance
misuse, mental health issues, domestic abuse, and		 32 194 (226) -
contact with the criminal justice system.
Funding over three years (September 2022 to August
2025) to fund Shelter England and Scotland (in partnership
RBL Homeless Armed
Forces		 The Royal British Legion with Shelter Cymru and Housing Rights NI) to train RBL
advisers to advise veterans on housing issues directly,		 172 284 (270) 186
such as homelessness, accessing housing, eligibility,
advocacy and more.
Funds GROW Traineeships across Greater Manchester,
Changing Futures GROW
Campus - Greater
Manchester Combined
Authority		 Greater Manchester
Combined Authority
(GMCA)		 including at the GMCA and four local authority areas.
Provides meaningful employment roles for people who
have experienced multiple disadvantages and supports
systemic change by removing barriers to employment and
creating opportunities for local authorities to co-produce		 96 137 (232) 1
and co-deliver their services.
Funding over two-and-a-half years (April 2022 -
TOAS Triage Project Fidelity UK Foundation September 2024) to set up an automated triage system
for Shelter's helpline and webchat, so that only priority		 39 268 (189) 118
calls get through to advisers.
To build the capacity, skills and knowledge of a range of
VCFS Lot 1 Training Department for Levelling
Up, Housing and		 frontline staff and volunteers in England through the
provision of effective, quality homelessness and housing		 69 667 (736) -
Communities (DLUHC) training, information resources and skills development.
The specialist advice team to deliver housing,
homelessness and welfare benefit advice via telephone,
Department for Levelling webchat and digital tools, to new and existing frontline
VCFS Lot 2 Advice Line Up, Housing and audiences. This service will be for professional and 71 809 (880) -
Communities (DLUHC) volunteer use only and it will not deliver advice directly to
the general public or people who are at risk of, or are
experiencing homelessness.
Providing Housing Right Workers based within Liverpool
Liverpool City Council
Families Team		 Liverpool City Council City Council’s Families teams, providing a dedicated
resource for vulnerable families experiencing/at risk of		 129 (29) (100) -
homelessness.

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Restricted fund name Funder Purpose of funding Balance at 1 April
2023
£'000		 Income£
'000		 Expenditure
/transfers
£'000		 Balance at 31
March 2024
£'000
To support those service users going through transition
Birmingham FIRST Peer Birmingham and Solihull from secure care into the community, or those living in the
Mentor Services - St Mental Health Foundation community experiencing mental health concerns with (3) 65 (62) -
Andrews Trust (NHS England) improving engagement with services and resilience in the
community.
A Future Foundation for
Families (National Lottery		 National Lottery
Community Fund		 To work with families and their supports in the Glasgow
city area to effect positive changes at individual and		 97 103 (105) 95
Community Fund) system level.
Network Rail Southern
Region		 Network Rail Outreach person-centred support for people who are
sleeping rough in train stations.		 35 344 (337) 42
Funded contract as part of the Salford Innovation and
Salford HHPA Salford Integrated Care
Partnership (NHS)		 Improvement Fund aimed at improving neighbourhood-
based care. Peer-led service supporting those
experiencing homelessness to get better access to		 83 - (83) -
healthcare.
Hardship Fund (England) Albert Hunt Trust For Shelter’s Hardship Fund, allowing clients to purchase
essential items and emergency accommodation when		 30 158 (91) 97
they reach crisis point.
Improving Outcomes
Through Legal Support		 The Access to Justice
Foundation		 For Shelter’s National Legal Team, to provide specialist
legal support to clients from across the country.		 - 83 (85) (2)
Funding development of new digital advice pages focused
Restricted to HSBC
Delivery		 HSBC on helping people to become more financially resilient.
Funding our housing, debt, welfare and benefits advice
offering in England (Birmingham and Lancashire) and		 - 2,942 (921) 2,021
Scotland.
Research report examining the impact of temporary
Children in Temporary
Accommodation Research		 Multiple donors accommodation on children in Scotland. Findings due to
be published in December 2024 and report will support		 - 148 (37) 111
(Scotland) Shelter Scotland’s advocacy and campaigning efforts.
Funding our GROW programme to help people with lived
Société Générale GROW Société Générale experience of homelessness into employment through
access to 12-month paid placements with work, training		 - 444 151 595
and personal development opportunities.
HG Digital Advice HG UKI Ltd Funding a new digital advice project to improve clients’
accessibility to our damp and mould advice on web and		 - 131 - 131
mobile.

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Restricted fund name Funder Purpose of funding Balance at 1 April
2023
£'000		 Income£
'000		 Expenditure
/transfers
£'000		 Balance at 31
March 2024
£'000
Restricted to Co-operative
Bank delivery		 The Co-operative Bank Campaigning in partnership to demand a fairer private
rented system - ending unfair evictions and unsafe		 - 157 (85) 72
housing, and securing stronger rights for all renters.
Funding our policy and communications work, funding our
CPC Delivery Nationwide Building
Society		 Community Services outreach in hubs across England and
Scotland, funding our emergency helpline in England and		 - 80 (27) 53
Scotland.
Children and Families
Safeguarding Solicitor		 Multiple donors To establish a role in the Shelter legal team with a focus
on providing legal support for children and families where		 - 95 - 95
safeguarding specialist knowledge and advice is required.
Restricted - Scotland Multiple donors Small donations restricted to specific areas of work in
Scotland.		 350 736 (1,086) -
Restricted - Services Multiple donors Small donations restricted to specific areas of work in
England.		 628 4,422 (4,933) 117
Other funds: income
<£60,000		 Multiple donors Various. 1,529 541 (550) 1,520
Total 3,872 16,362 (14,687) 5,547

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21(i) Analysis of net assets between funds (prior year)

Group
Unrestricted Restricted Endowment Total
funds funds funds funds
£'000 £'000 £'000 £'000
Fund balances as at 31 March 2024 are represented by:
Tangible fixed assets 9,329 - - 9,329
Investments 4,121 - 39 4,160
Net current assets 6,066 5,547 - 11,613
Provisions (2,231) - - (2,231)
Total net assets 17,285 5,547 39 22,871

89