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2025-03-31-accounts

Single Homeless Project Annual Report and Accounts 2024-25

Single Homeless Project is a London-wide charity. Our vision is of a society where everyone has a place to call home and the chance to live a fulfilling life. We help single Londoners by preventing homelessness, providing support and accommodation, promoting wellbeing, enhancing opportunity, and being a voice for change. From supporting people in crisis to helping people take the final steps towards independence and employment, we make a difference to 12,000 lives every year across all 32 boroughs.

1. Reference and administrative information

(for the year ended 31 March 2025)

Charity number

287779 (Registered in England and Wales)

Company number

1741926 (incorporated in the UK)

Registered office and operational address

Single Homeless Project, 245 Gray’s Inn Road London, WC1X 8QY

Trustees

The trustees, who are also directors under company law, who served during the year and up to the date of this report were as follows:

Jon Rosser, Chair Mark Fell KC – resigned 18 September 2024 Peter Brogden, Treasurer Nicky Boland Ian Adams, Vice-Chair Chinyere Ugwu Meeta Luthra Sadie Daryan – co-opted 15 May 2024 Emilie McCarthy – co-opted 15 May 2024 Samantha Storey – co-opted 15 May 2024 Jasmine Basran – co-opted 17 July 2024

Secretary

Liz Rutherfoord

Executive Management Team

Liz Rutherfoord, Chief Executive Toni Warner, Deputy Chief Executive & Director of Services Rupa Bhola, Director of Finance, IT & Facilities Jamie Mills, Director of Business Development & Fundraising Howard Rosenthal, Director of Human Resources & Organisational Development

Bankers

National Westminster Bank Plc London Corporate Service Centre London, EC1V 7DY

Solicitors

Devonshires 30 Finsbury Circus London, EC2M 7DT

Auditor

Sayer Vincent LLP Chartered Accountants and Statutory Auditor 110 Golden Lane London, EC1Y 0TG

2. Trustees’ report for year ending 31 March 2025

The trustees present their report and the audited financial statements for the year ended 31 March 2025. The reference and administrative information section above forms part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102. This trustees’ annual report includes a directors’ report as required by company law.

Compliance with Section 172 of the Companies Act 2006

The Board of Trustees is aware of its duty under Section 172 of the Companies Act 2006. This duty includes acting in the interests of stakeholders when promoting the success of the charity.

The trustees act in accordance with this requirement and in doing so have to regard:

Set out in the Strategic Report and Trustees’ Report is a description of how the Trustees have had regards to the matters set out in section 172 (1) when performing their duties under section 172.

Objectives and activities - public benefit

Single Homeless Project’s objects are outlined in the Articles of Association. The trustees have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing Single Homeless Project’s aims and objectives and in planning its future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives that have been set. Our objective is entirely focused on public benefit – to provide relief to persons in need by reason of age, frailty, ill health, mental or physical disability, and poverty, social or economic circumstances or otherwise through the provision of support services and other ways as the trustees shall determine.

Single Homeless Project’s main aim is to reduce poverty, social exclusion and homelessness and to make a lasting improvement to the quality of life of our clients.

Strategic Report

Single Homeless Project is a London-wide charity. We began in 1975 when six homeless Londoners set out to challenge the system and make their vision of a safe place to live for everyone a reality.

In a city where hundreds are forced into homelessness every day, our work has never been more needed or more challenging. We prevent homelessness, provide safe places to live and give people the opportunity to rebuild their lives and transform their futures. Last year, we made a difference to the lives of 10,500 Londoners.

We couldn’t have done that without the hard work and dedication of our staff and volunteers and the support we received from our funders and donors

Our business plan priorities for 2024/25 and results:

Expand and sustain services for rough sleepers

Expand our health support and improve health outcomes for those who are multiply disadvantaged living in our hostels and clients of the Tenancy Sustainment Team (TST North)

Expand our employment offer for our clients through securing additional funding

Achieve Domestic Abuse Housing Alliance (DAHA) accreditation

Collaborate with Solace and other organisations to expand participation in the third year of the

women’s rough sleeping census

Achieve Ofsted registration in services for 16-&17-year-old Looked After Children and care leavers

In 2024-25, we worked with over 12,000 Londoners 10,000 Londoners who were either facing or experiencing homelessness homelessness

4,372 Londoners

We gave 3,671 people

supported to stay in their own home, preventing them from becoming homeless

short term advice guidance and support in securing housing

Over 1,000 rough sleeping

people

supported off the streets and into crisis accommodation

834 people

Worked with

clients 2,462

experiencing multiple disadvantage helped through our accommodation services

to improve their physical and mental health through treatment and support and be in control of their own recovery

1,372

112 women

Londoners

provided with safe accommodation through our specialist women's hostels

rehoused into more stable accommodation, finding a place to call home

592 young people

Over 1,300 people helped into employment, education or training

who were either homeless or leaving care supported through our youth community services and hostels

Achievements and impact

Londoners in crisis – off the streets and into the warmth

Rough sleeping in London continues to rise - and the scale is both urgent and unacceptable. In the past year alone, 11,993 people were recorded sleeping rough in the capital. That’s the highest number in over a decade - and a 59% increase since 2021.

We’re seeing more people new to the streets, more people returning after being housed, and more people experiencing longer spells without support. Behind every statistic is someone who has been let down by a system that’s supposed to protect them.

The drivers are complex - but not surprising. Spiralling rents, evictions, and sky-high living costs are pushing more people into crisis. A frozen Local Housing Allowance. Not enough social housing. And frontline services stretched beyond capacity. Without urgent investment in prevention, more people will be forced to the streets - and kept there longer.

But at Single Homeless Project, we refuse to stand still.

Over the past year, we’ve rapidly mobilised new outreach teams, launched specialist women’s services, and expanded Housing First. Our ability to respond quickly - and deliver real impact - means we’ve secured extensions and new investment across our services.

Rough Sleeping Services

Rough sleeping in London has reached its highest recorded levels in a decade, despite national investment and repeated pledges to end it.

At Single Homeless Project, we continue to lead the response - supporting people off the streets and into safe, sustainable housing.

The challenge:

Our response:

Making every bed count:

Private Rented Sector: Increasing our capacity to move people on from Temporary Accommodation and Clearing House tenancies by procuring high-quality units in the private rented sector

In 2024, Single Homeless Project continued to strengthen our work in tackling homelessness by expanding access to the private rented sector (PRS) - a vital route out of homelessness for many of the people we support, given the chronic shortage of social housing.

We have built on our established partnerships with private landlords and agents to ensure our clients can access secure, quality accommodation with support tailored to their needs.

Key milestones and achievements:

Sustained tenancies:

Our GLA-commissioned Tenancy Sustainment Team (TST) recorded a 95% PRS tenancy sustainment rate after 12 months for clients supported into private rented accommodation.

Culturally responsive services:

We developed specialist provision in partnership with the Roma Rough Sleepers Team, supporting Roma and Romani individuals who were experiencing homelessness to access housing and culturally appropriate support.

Maximising financial stability:

All clients supported into PRS accommodation received dedicated income maximisation support - ensuring they could maintain their tenancies and improve long-term financial wellbeing.

Driving systems change:

We joined the Homeless Link-led PRS Steering Committee, collaborating with partners to shape sector understanding of how to improve access to safe, suitable PRS accommodation and share best practice across the sector.

Expanded PRS access:

In 2024, we successfully supported 203 individuals into PRS accommodation, with ongoing tenancy sustainment support to 572 people to ensure positive long-term outcomes.

Women experiencing homelessness

Shining a Light on Hidden Homelessness: The Women's Rough Sleeping Census

In 2024, Single Homeless Project continued to lead groundbreaking work alongside Solace in delivering the Women’s Rough Sleeping Census - helping to expose and challenge the systemic undercounting of women experiencing rough sleeping across England.

Key milestones:

Real-world impact:

The census isn’t just revealing the gaps -it’s driving real change across the country. Examples include:

As one outreach manager put it:

" We had to make such a concerted effort to change practice to reach women during the census week that it really highlighted we are not meeting the needs of women all year round. "

Looking ahead:

The Women's Rough Sleeping Census is building unstoppable momentum - fuelling better data, stronger services, and louder advocacy for women who have been overlooked for far too long. At Single Homeless Project, we’re proud to be at the heart of this movement for change.

Building a New Model: Housing First for Couples Experiencing Homelessness and Domestic Abuse

“I think it would have helped if they would have worked with us together, but also separately – it was the way they dealt with us, that made me keep running back to him, and him keep running back to me, because we could never both get housed at the same time.” - Survivor participant in study

At the end of 2023, Single Homeless Project and Solace secured £10,000 from Commonweal’s Call for New Ideas fund to tackle a critical gap in homelessness services: support for couples where domestic abuse is present and the survivor still wishes to stay with their partner.

Working with independent researchers, we spent a year investigating whether a Housing First for Couples service could offer a safe, sustainable model - and, crucially, achieve positive outcomes for both partners.

Through research and consultation with survivor participants, we developed and evaluated a new operating model, rooted in lived experience and frontline expertise. From this, we shaped a set of draft principles to guide future delivery.

Why this matters:

In March 2025, we launched the study’s findings and we’re already putting the work into action: Single Homeless Project has secured funding to launch a new Housing First for Couples service in Camden, starting April 2025.

This is a bold step forward - and with our partners and supporters, we're determined to lead the way in keeping survivors safer, saving lives, strengthening services, and challenging the systems that leave people behind.

Strengthening Our Response to Domestic Abuse: DAHA Accreditation Journey

At Single Homeless Project, we’re proud to be building a stronger, safer future for people affected by domestic abuse. In 2023 and 2024, we worked towards accreditation from the Domestic Abuse Housing Alliance (DAHA) - the UK’s leading framework for best practice in housing and domestic abuse services.

It’s been a challenging but transformative journey. After passing all 'desk-top' evidence standards, our site visits, interviews, and case audits earned strong praise from DAHA assessors - highlighting our progress, our people, and our commitment. Although case work audits will be repeated in April 2025 to strengthen our evidence base even further, assessors made it clear: our direction of travel is powerful, and the impact is real.

Key achievements:

What’s next?

We’re not standing still. With renewed training, deeper partnerships, and stronger casework, we’re determined to reach full DAHA accreditation in 2025 - and continue to lead the way in providing safe, compassionate, and effective support for survivors of domestic abuse.

Making healthcare accessible for our clients

Embedding Healthcare Across Our Services

At Single Homeless Project, we believe health is central to recovery and independence. Over the past year, we’ve deepened our commitment to embedding healthcare across everything we do - supporting people to access the care they need, when they need it, and on their own terms.

In 2024/25:

From in-reach to whole-system change:

Our impact:

Driving system reform:

Looking ahead:

We’re continuing to grow our health navigation work and are developing new approaches to meet the specific health and care needs of women - ensuring no one is left behind.

Responding to the Synthetic Opioid Crisis

The rise of synthetic opioids like fentanyl and nitazenes in the UK drug market is creating a public health crisis—and the people we support at Single Homeless Project are on the frontlines.

Since June 2023, more than 400 deaths (and many more overdoses) have been linked to nitazenes— likely an underestimate due to gaps in forensic reporting. These potent synthetic opioids have been detected not just in heroin, but also crack, synthetic cannabis (spice), street pills, and vapes—posing an extreme and unpredictable threat.

In our services, we’ve seen a stark rise in overdoses, drug-related hospital admissions, and suspected drug-related deaths. We know this crisis demands urgent, coordinated action—and that’s exactly what we’re delivering.

Our response includes:

In January 2024, we helped set up Islington’s new Substance Use Community of Practice - bringing together senior practitioners, commissioners, and key partners to share intelligence and coordinate action. Following a sharp spike in overdoses in March 2025, we helped convene a borough-wide Public Health Strategy meeting, ensuring a joined-up response across the council, community safety teams, substance use services, and housing providers. We’re also proud that residents from our services, like Milton House, are contributing their experiences to Homeless Link’s research into carrying and using naloxone—helping to shape future harm reduction strategies across Islington.

Looking ahead:

The rise of synthetic opioids represents a new chapter in drug use across the UK. At Single Homeless Project, we’re determined to lead the way in protecting the people we support - through faster treatment, better education, stronger partnerships, and relentless focus on harm reduction.

Building Community Wealth and Cohesion in Islington

We believe support services should create more than safety - they should create opportunity, belonging, and pride. That’s why we’re committed to making sure our work in Islington strengthens local communities and helps people build better futures.

Key achievements:

Looking ahead:

By creating real pathways to opportunity and deepening community connections, we’re showing that homelessness is not the end of the story - it’s the start of something stronger. Together, we’re building a future where everyone has a place to call home and the chance to thrive.

Team Around Me: Transforming Multi-Agency Support for People Facing Multiple Disadvantage

We know that complex problems demand collaborative solutions. That’s why we’re proud to see Team Around Me (TAM) - our person-centred, multi-agency approach - continue to grow as a best practice model for supporting people facing multiple disadvantage.

Despite limited capacity this year, we’ve made major strides in expanding TAM’s reach and impact:

Key achievements:

Looking ahead:

TAM is proving that when services work with people, not around them, better futures are possible. We’re committed to embedding this approach even further—and leading the way in creating more joined-up, compassionate systems of support.

Psychological Services and Mental Health Care: Building Hope, Resilience, and Healing

Our teams provide vital spaces for clients and staff to heal, reflect, and grow - especially when public mental health services often exclude those facing multiple disadvantages.

Our services increasingly support a younger demographic with complex and often unmet physical health needs - a trend reflected across Single Homeless Project’s wider client groups.

Key achievements in 2024/25:

programme is open to residents and non-residents alike, with 41 certificates awarded since launching in September 2024. We hope to roll the programme out across our wider mental health services—and potentially beyond.

What people are telling us:

Looking ahead:

Access to safe, skilled psychological support isn’t a luxury - it’s essential. At Single Homeless Project, we’re committed to embedding trauma-informed practice across everything we do, helping people to rebuild not just their housing, but their hope.

Preventing homelessness: The first and most powerful step

At Single Homeless Project, we know the most effective way to tackle homelessness is to stop it before it starts.

Every eviction we prevent, every young person we support early, every tenancy we help sustain—that’s a life not derailed by homelessness. And in a city where housing pressures are pushing more and more people to the edge, this work has never been more urgent.

Over the past year, we’ve expanded our prevention services, worked in new boroughs, and brought support directly into the places people already turn for help—GP surgeries, food banks, youth hubs and more. We’re not waiting for crisis to come to us. We’re stepping in early, and we’re walking with people through it.

This is how we change the story—before it becomes one of homelessness.

Preventing Homelessness, Protecting Futures

Our community services, working in Redbridge, Islington, and Westminster, are on the frontline of prevention, helping people stay in their homes and thrive in their communities.

Making an impact where it matters:

How we make a difference:

Many of the people we support face major challenges—debt, rent arrears, poor physical and mental health, and few support networks. The stability of settled accommodation, combined with tailored support, gives people a platform to rebuild. Through careful, client-led work, we help people identify their goals, strengthen their resilience, and move towards lasting independence.

The impact is life-changing:

Looking ahead:

Investing in prevention isn’t just compassionate—it’s smart. We’re committed to growing and strengthening our prevention work, and showing that with the right support, every person has the potential to build a better future.

Sustaining Tenancies, Changing Lives: The Power of Person-Centred Support in Westminster

At Westminster Floating Support, we work with determination, empathy and purpose— because no two journeys are the same, and every individual deserves to be met with care that reflects that . Across all our services, we take a person-centred, trauma-informed approach that recognises the strength and resilience behind each story.

We’ve been delivering the Westminster Floating Support Service since 2011 (expanded in 2018), and we’re proud to say it’s now been extended until September 2026. That means more time to walk alongside people— and more opportunities to prevent homelessness for good.

The other services that sit under the Westminster Support Services include the Assertive Outreach Service, Changing Futures Service and Private Letting Service which includes supporting those via the Rough Sleeping Accommodation Pathway and Accommodation for Ex-Offenders.

Here’s the impact of our work in action:

This isn’t just service delivery—it’s commitment, consistency, and belief in what’s possible .

Because when we lead with trust, walk at someone’s pace, and stand by them through every step, we don’t just prevent homelessness—we end it.

Tenancy Sustainment Team: Strengthening Stability and Support

Our Tenancy Sustainment Team, funded by the Greater London Authority continues to deliver strong outcomes—supporting people to stay housed, stay healthy, and move forward.

Embedding health into housing support:

Improving service delivery from day one:

Move-on challenges—and our continued advocacy:

Expanding support through smarter investment:

Young people

Continuing to deliver services with a difference

The real impact of our work can’t always be captured in numbers. It lives in the quality of support we offer, the powerful relationships we build, the determination of the young people we work with and the lasting changes they go on to achieve long after they’ve moved on. That’s where the magic happens.

Every young person who comes through our doors is a reminder of why we’re here. The need is real— and growing. Our services don’t just provide a roof—they create the space for young people to heal, grow and rewrite their stories. We’re here for the long haul, standing beside them as they transform their futures, no matter how tough the start.

Helping young people move forward

Our role as a trusted coach and advocate has never been more crucial. Over the past two years, we’ve continued to see steady levels in the total number of young people we’ve worked with. In the past year we worked with a total number of 587 diverse young people, all of which in some way has influenced service development and restructure.

Last year, 264 young people moved on from our accommodation and floating support services. Nearly half (46%) progressed into other supported housing through local authority pathways - proof that our services are a vital launchpad for the next stage in their journey.

Creating Communities, Developing Skills for Life

Year after year, our services continue to foster strong, supportive communities where young people can connect, grow, and thrive. Through tailored opportunities and experiences, we help them build confidence, explore their identities, and gain skills for life—opening doors to education and employment along the way.

Much of this is delivered in-house by our dedicated Youth Opportunities Coordinators and frontline staff, with young people themselves often stepping up to co-facilitate.

The case studies below show just how varied young people’s journeys can be—and how vital these programmes are in helping them unlock their potential.

Hope restored

When we took over one of our supported housing services in 2019, we met Sarah—a young person living with complex hoarding behaviours and stuck in a tenancy that made it difficult to move her into the higher support she needed. Rather than follow formal eviction routes, we worked with Sarah to reframe the move as a step forward, not a setback.

Building trust quickly was key. Our team made deliberate efforts to connect, establishing a bond using mindful, trauma-informed language and engaging her through her interests. Over time, Sarah found new purpose—crocheting, baking, creating art—and her mental health and selfcare began to improve. She even started leading cooking sessions for other young people, sharing her favourite recipes.

As Sarah approached the end of her time in young people’s services, options were limited—but she kept going. And it paid off. Sarah secured a place through Housing First and, for the first time, she feels hopeful about her future.

A home and a job

Shane had his sights set on employment from the start. With support from staff, he built a strong CV, completed a course, and landed his first job as a barista. He was eager to keep progressing—but the challenge of balancing work with high supported accommodation costs quickly became clear.

As rent arrears grew, Shane didn’t give up. He worked closely with staff to manage his debt, secure grants and Discretionary Housing Payments, and made consistent contributions from his

wages. Thanks to his determination—and some key support—he was awarded a significant payment that helped clear much of the debt.

Shane has since moved into his own flat and continues to stick to his repayment plan. His story shows what’s possible when young people are supported to build independence—even when the system makes it harder than it should be.

Looking ahead, we’re committed to tackling rent arrears as a barrier to work, improving financial education, and working with partners to unlock the right support at the right time.

Ofsted Registration

We achieved Ofsted Registration in June. This marked a key milestone for us to be able to continue to deliver Supported Accommodation Services for 16–17-year-old Looked After Children and care leavers. Whilst only a small proportion of our young people fit into this cohort, it means that our work in the Spot Purchase market can continue to grow.

Adding value and impact to our contracted work

Opening Doors to Connection, Growth, and Opportunity

Our Achieving Potential Programme isn’t just about activities - it’s about belonging, discovery, and transformation. Our seven different projects create spaces where people can reconnect with themselves, build confidence, and take steps toward the future they want.

Through social engagement, creativity, and community , we help people stay active, connect with others, and explore mainstream arts and cultural opportunities. And for those ready to take the next step, we open the door to education, training, and employment - on their terms, at their pace.

We meet people where they are. Whether it’s on-site at our services or out in the community with our partners, we offer choice and progression - ensuring that every person can engage in a way that feels right for them. 2,000 of our clients have accessed our projects over the past year.

Because opportunity isn’t just about what’s possible - it’s about what’s next. And we’re here to make that next step happen.

Education, training and employment

A safe place to live is just the start - true independence comes with opportunity. That’s why we provide our clients with multiple pathways into education, training, volunteering, and employment - empowering them to take control of their future.

For many, this is the crucial step in breaking the cycle of homelessness for good. We know that one size doesn’t fit all, so we offer choice, flexibility, and real opportunities for those ready to take that next step.

Because everyone deserves the chance to learn, grow, and build a future on their own terms - and we’re here to make that happen.

Highlights from this past year:

Peer mentoring

We believe lived experience changes lives. Last year, 40 clients graduated from our accredited Peer Mentoring programme - using their own journeys to support others and strengthen recovery across our services.

To widen access, we also launched a new Introduction to Peer Mentoring session - opening the door for more clients to explore volunteering, even if they’re not yet ready for full training.

This year:

Comeback Kitchen

Working from a state-of-the-art commercial kitchen, we engage clients through cooking sessions using surplus food donated by partners like The Felix Project - turning surplus into opportunity.

Key highlights:

ArtHouse: Creativity, Confidence and Community

We believe creativity can spark powerful change. Through our ArtHouse programme, we're helping people rebuild confidence, strengthen wellbeing, and find new ways to connect—with themselves, with each other, and with the wider world.

Key achievements in 2024/25:

Bringing creativity into the community:

Supporting the next generation:

Growing our creative partnerships:

We continued to build vital links with organisations like the Tate Modern, Young Vic, Cardboard Citizens, and National Youth Theatre - offering participants supported bridges into the wider creative community. Our special partnership with Tate Modern - providing free weekly workshop space - has been confirmed until at least August 2025.

Looking ahead:

Our 2025 ArtHouse exhibition will run from October 9th to October 31st at the Stephen Lawrence

Gallery at University of Greenwich. It will be our fourth annual public celebration of the creativity, resilience, and spirit of the people we support.

" All week I’m thinking, it’s okay, I have art at Tate & Create on Thursday. " —ArtHouse participant

The Sports Project: Building Confidence Through Activity

Sport isn’t just about fitness - it’s about confidence, community, and building a better future.

Key achievements in 2024/25:

Innovative projects and partnerships:

Strengthening our community:

Celebrating achievement together:

" I have felt extremely supported by the team. They have helped me achieve my goals of being more physically active. The kindest and most understanding support I could ever ask for. "

— Single Homeless Project client

SoundHouse: Building Community Through Music

Through SoundHouse , we’re giving clients the space, tools, and support to create, perform, and find their voice.

Key achievements in 2024/25:

Securing the future:

Strengthening community connections:

" I’m so much more confident now. I really appreciate the vibes and how friendly everyone is. " — SoundHouse participant

Looking ahead:

At SoundHouse, every beat created and every lyric written is a step towards rebuilding confidence, forging community, and telling new stories—loud and proud.

GreenHouse: Growing Confidence and Connection Through Nature

Green spaces can offer powerful spaces for healing, reflection, and growth. Through GreenHouse , we gave clients the opportunity to reconnect - with nature, with others, and with themselves.

Key achievements in 2024/25:

GreenHouse participant shared:

" I wouldn’t have imagined myself doing something like this - filling a bird feeder, watching the squirrels. It helped me have something different to do to challenge my cycles of addiction. "

Looking ahead:

While GreenHouse will be paused next year due to funding challenges, its impact lives on. The skills, confidence, and moments of peace it sparked have taken root - and they will continue to grow in the lives of those it touched.

Our fundraising

In 2024/2025, we secured £1,945,028 income from a wide range of Trusts, Foundations, corporate partners, individual supporters, and high-value donors. Despite a challenging year caused by the costof-living crisis negatively affecting our supporters and donors, and the significant competition for corporate partnerships and Trusts and Foundations grants we achieved well above our forecasted annual income which has supported the aim of growing and expanding programmes that are vital for our clients to break the cycle of homelessness.

Breakdown of funds secured:

  1. Trusts and Foundations – £521,234

  2. Corporate donations – £608,919

  3. Events – £197,362

  4. Individual Donations – £579,571

  5. Volunteering - £37,942

We are proud to highlight some of our important funding partnerships and fundraising moments below:

Addressing the unmet needs of our clients

The Health and Therapies Programmes are solely funded through Trusts, Foundations and voluntary income. The growth, reach and increased impact of the programme wouldn’t be possible without the support and funding provided by: Wells Fargo Bank, Compass Wellbeing.

The Achieving Potential programme is fully funded through Trusts, Foundations, corporate grants and donations. The increased impact and growth of the programme wouldn’t be possible without the funding from: Qsix, Blackrock Gives, Linklaters, Westminster Community Homes, Universal Music, National Lottery Reaching Communities Fund, Joe Strummer Fund, JTI, BUPA, London Marathon Events, London Housing Foundation, NFL Foundation, TfL Walking and Cycling Grants, Islington United Charities, Cash4Clubs, Chapman Trust, Capita, Sainsbury’s, The Caerlow Trust, London Cycling Campaign, City Bridge Trust,

The programme gives our clients a helping hand in starting their employability journey.

Emergency Grants

Thanks to the ongoing support from our individual donors, we distributed over 1100 emergency grants to clients who lacked necessities such as photo IDs, clothing, mobile phones, food and energy vouchers and move-on packs which enabled our clients to furnish their new homes. Our ongoing partnerships with the Society for the Relief of Distress, Westminster Almhouses and Cripplegate Foundation also enabled us to access further support for our clients, providing grants for immediate support as well as support their employability journeys.

Our corporate partners

In 2024/25, we have been privileged to sustain most of our existing corporate partnerships and extended several of them longer than initially anticipated. Our partners are invaluable to Single Homeless Project and our clients by supporting with financial donations, fundraisers, volunteering, and These include Workspace, The Value Engineers, 2CV, Qsix, LinkedIn, CAMA, The Brewery, JTI, Shaftesbury Capital, Carlyle, CFC Underwriters, Edmonds Elder, Foxtons, Frontiers, Mondrian, OSTTRA, Pact Coffee, POD Management, Linklaters, Arnold & Porter, Shoosmiths, and Teacher Stern. We also added to our network of businesses supporting our work with Diploma PLC, LightRock, Slaughter and May, Universal Music, Aesop, Bouygues, Capita, Dentons, Derwent London, Gratte

Brothers, Greenzone Cleaning and Support Services, Latham & Watkins, Lovell, MGAC, Overbury, Pearson Ham, Uber, Wells Fargo Bank, Westminster Community Homes, Willmott Dixon, and Warner Bros Discovery.

Appeals and events

Annual Christmas appeal - Our 2024 Christmas appeal raised £704,478 of unrestricted funds which was a 77% increase in comparison with the previous year. The funds raised has helped us support more clients into independence and to provide:

Challenge events

In 2024-2025, we saw 557 individuals taking part in sky dives, half marathons and the London Marathon raising £197,362. A particular highlight was the Hackney Half Marathon where 250 people decided to choose Single Homeless Project as their charity to run and raise vital funds to help end homelessness in London. We also took part in the London Marathon, London Landmarks, Tough Mudder, Royal Parks Half Marathon, Big Half, London 10k and Santa Run.

Volunteering and non-cash donations

In 2024-2025, we received support from 878 volunteers who helped us deliver ongoing activities for the clients, spruce-up our hostels and green spaces, help with our cooking programme, engage in skillsbased volunteering, and support our colleagues in preparing Christmas parties and dinners for the people who we support. We are incredibly grateful for the support we received from a wide range of companies, foundations, trusts, groups and individuals who provided us with one-off donations, or longterm support towards our work.

Fundraising Regulator

Single Homeless Project is registered with the Fundraising Regulator and works in a way that demonstrates our commitment to good fundraising practice. Our charity follows all requirements set out in the Code of Fundraising practice, including those which relate to interactions with vulnerable individuals. We did not receive any complaints this year that relate to our fundraising activities. Our adherence to the Code of Fundraising Practice sets out the main ways we ensure that we protect vulnerable people and members of the public from unreasonable or unwanted behaviour. Furthermore, we don’t use professional fundraisers or commercial participators, and no third parties undertake fundraising on our behalf.

The Fundraising Team members attended Safeguarding Adults and Safeguarding Children and Young People obligatory training. Our supporter and donor data is GDPR compliant and all the consent options and privacy statements are regularly reviewed.

Our influencing

Last year we focussed our influencing in two areas. We called for:

By using our insight and expertise and listening carefully to our clients, we are acting as a voice for change, particularly on matters that impact homelessness in London.

Influencing systemic change: The Women's Rough Sleeping Census

We’re proud to lead the national conversation on women’s rough sleeping - shaping policy, building partnerships, and amplifying women's voices. We’re bringing about widespread change in how women's rough sleeping is recognised and responded to.

Driving policy change:

Shaping London's future:

Reaching national audiences:

Sharing learning and building momentum:

Looking ahead:

With every meeting, every headline, and every new partnership, Single Homeless Project is pushing for a future where women experiencing homelessness are finally seen, heard—and supported.

Tackling major economic drivers of homelessness in London

At Single Homeless Project, we work every day to prevent homelessness and help people move on from hostels and temporary accommodation into stable, private rented homes. But we know that without fair policies, our efforts can only go so far.

That’s why, in December 2024, we raised our voice—loud and clear.

We released new analysis showing that one Londoner is being forced into homelessness every 7.5 minutes . This stark figure captured the escalating crisis:

This worsening trend is no accident—one key driver is the Government’s decision to freeze the Local Housing Allowance (LHA), leaving thousands of Londoners unable to cover their rent. We called on Government to unfreeze the LHA and give Londoners a fair chance.

Doing so would have meant:

And we’re not stopping there. We’ll continue to press for the LHA to be increased annually , ending the uncertainty for tenants and landlords - and helping people stay in their homes, not fall through the cracks.

Our people

Everything we’ve achieved this year has been made possible by the incredible people who make up Single Homeless Project. Every day, every minute, they’re standing alongside Londoners, delivering trauma-informed support through our unique "Our Way of Working" model.

This year, our total workforce grew to over 900 people. That includes both employees and locum staff, who provide vital cover in our services on a flexible, short-term basis. Most of this growth came from our permanent team—rising from 587 to 637 employees by the end of March 2025. Part of that increase came from expanding our services—like growing the Welcome Team in our Tenancy Sustainment Service and launching our new service on Gray’s Inn Road. But the biggest driver? People choosing to stay.

Staff turnover dropped dramatically this year. Voluntary resignations were down by 50%—a powerful sign that our people are choosing to stay and grow with us. In fact, 31 colleagues stepped into permanent promotions, and another 33 took on more senior responsibilities in temporary roles. This improved retention is no accident. It reflects determined work across Single Homeless Project to recognise, reward, and listen to our people—more publicly, more consistently, and more meaningfully.

We started the year with the most significant pay uplift in our history. Some staff saw increases of up to 15%, thanks to service-wide role upgrades and a minimum 5% cost of living uplift for all. Colleagues on the London Living Wage received an 8.8% rise.

We made recognition a central theme at our Staff Conference in June, where over 30 long-serving colleagues were celebrated for over 10 years of dedication. Senior leaders also made time to personally thank teams across every service.

In October, our annual Equity, Diversity and Inclusion survey showed encouraging progress:

We also refreshed our appraisal process this year, making it simpler and more focused on what matters: recognising people’s impact and supporting their growth. With support from our Data team, we’ve now connected appraisals with our wider supervision tools and even built in the ability to track colleague and client feedback—so development conversations link directly to the outcomes we achieve.

As we look to the future, we’re proud to have involved our people in shaping the path ahead. Throughout the year, we consulted staff, managers, and clients on our 2025–2030 strategy—through briefings, newsletters, and focus groups. Their insight, experience, and perspective will shape where we go next.

Because at Single Homeless Project, we know change doesn’t start at the top—it starts with the people who show up, day in and day out, and walk alongside Londoners as they grow, rebuild, and thrive.

Financial review

Results for 2024/25

The results for the year are set out in Statement of Financial Activities. The assets and liabilities of the Charity at 31 March 2025 are shown in the Balance Sheet. The financial statements should be read in conjunction with their related notes.

Income

Since 2019/20, income has grown steadily from £27.83 million to £44.05 million – an increase of 58% (£16.22 million):

The growth in income has been achieved largely through the addition of contracts and increases in contract income. Annual increases are applied to rents and service charges, where rents are linked to the Government rent increase limits and service charges are set to achieve full cost recovery.

This is a positive position, and we have continued to build on this during 2024/25 and aim to continue the positive trend in future years. The result also includes the impact of an inflationary increase to staff salaries as well as the increase to the London Living Wage implemented from April 2024.

Income Breakdown – 2024/25

Income Heading 2024/25 £m 2023/24 £m % Growth
Unrestricted Supporting People &
Other Grants		 £25,283
£24,292
+4%
Restricted Grants £713
£888
-20%
Rents and Service Charges £16,141
£14,556
+11%
Donations & Legacies £1,232
£980
+26%
Sundry Income £550
£266
+107%
Investment Income £129
£72
+79%
Total £44,048
£41,053
+7 %

Income Breakdown – 2024/25 (continued)

Annual Surplus

Single Homeless Project continues to deliver operational surpluses:

Year Net Unrestricted
Income £'000		 Net Restricted
Income £'000		 Total £'000 Net Income as a %
of Total Income
2019/20 £102 -£65 £37 0.13%
2020/21 £148 -£96 £52 0.15%
2021/22 £277 -£177 £100 0.27%
2022/23 £471 -£280 £191 0.49%
2023/24 £499 -£78 £420 1.02%
2024/25 £390 -£63 £327 0.74%

The overall surplus was down slightly despite the challenging inflationary environment and the pay award made in April 2024.

Single Homeless Project’s aim is to continue to generate surpluses on unrestricted funds that add to reserves, ensuring funds are available to support our work with service users.

We work in a challenging environment where our performance is directly impacted by funding reductions from central government to local authorities, and the knock-on effect for organisations like Single Homeless Project. We have a continued reliance on the use of agency staff to set up urgent services or fill the gaps where recruitment or retention has been a challenge; voids due to delays in re-let works and availability of suitable referrals; and increased arrears as a result of delays in payments from local authorities. As most of our properties are owned by Registered Providers, we are required to pay rent for each bed space regardless of whether the rooms are let, or the rent is being collected or not.

We continue our journey of taking every opportunity to improve our financial performance using new technology and solutions. This includes:

multifaceted with an ability to offer Single Homeless Project a chance to streamline its processes considerably.

Balance Sheet

Single Homeless Project’s balance sheet remains strong with current assets increasing from £9.40 million at 31 March 2024 to £10.75 million at 31 March 2025 with Single Homeless Project holding substantially more cash than the previous year.

Reserves also went up by £327k through the retained surplus for the year.

Despite the challenging environment, Single Homeless Project’s financial position remains strong, with year-end reserves of £6.98m (2024: £6.65m). Of these, £1.65m are restricted (2024: £1.69m). Cash and short-term deposits amounted to £7.11m (2024: £5.13m), a vastly improved position to the previous year, the position also includes interest income of £129k during the year.

Key financial performance indicators

Single Homeless Project monitored financial performance against the following five key indicators during the year which we have met for surplus, current assets to current liabilities ratio and overheads and are working to meet the other indicators in the coming year:

Indicator Target 2024/25 2023/24
Surplus >£0 £327k £420k
Current Asset: Current Liability >1: 1 1.72: 1 1.77: 1
Overheads as a percentage of
turnover		 <15% 10.00% 10.87%
Staff Expenditure as a percentage
of budget		 <100% 100.49% 100.07%
Income vs Budget >1% 0.20% -0.19%

Reserves policy

The Board’s policy is to designate funds for anticipated expenditure which is expected to enhance our services or is critical to ongoing services. Movements in reserves are set out in the financial statements.

Single Homeless Project is committed to working with our clients over the long term, however the income associated with our projects and key elements of our costs can be unpredictable. In the event that our activities proved loss-making, it would take time for us to re-price projects, and/or reduce costs to return to break- even. Therefore, to avoid excessive risk of Single Homeless Project’s liabilities being greater than its assets and/or it being unable to pay its debts as they fall due, the Board’s policy is to build a general fund of £2.5m. This represents approximately three years of cash outflow under a stressed scenario. This includes circumstances where costs may rise unexpectedly and revenue streams do not increase, or we lose contributions from contracts which are re-tendered or de-commissioned.

At the year-end, general reserves amounted to £2.8 m (2024 - £2.5 m) .

Having reviewed Single Homeless Project’s cash flow projections for the coming year, the Board is confident that Single Homeless Project has sufficient funds to continue as a going concern, and to meet its objectives.

Capital reserve - This reserve of £1.7m reflects Single Homeless Project’s investment in its building at 245 Gray’s Inn Road. This is one of the principal locations from which Single Homeless Project’s services are provided. The capital is therefore not readily convertible into liquid funds.

The following funds have been designated based on the Board’s expectations of likely calls on Single Homeless Project’s resources over and above its day-to-day operations:

Principal risks and uncertainties

In the year, the Trustees continued to assess the risks to which Single Homeless Project is exposed. The most significant of these remain to be:

We have quantified the risks by considering their probability and impact and as a result, have been able to delegate responsibility to senior staff to ensure controls are in place to manage them.

The Board recognises that systems can only provide reasonable but not absolute assurance that major risks have been adequately managed.

We hold the ISO 9001 2015 Quality standard. Being able to demonstrate our management system meets these quality management requirements has enhanced our ability to systematically assess, plan, control and monitor risks.

Streamlined Energy & Carbon Reporting Disclosure

Methodology used

As a large charitable organisation, Single Homeless Project is required to report its energy use and carbon emissions in accordance with the Companies (Directors’ Report) and Limited Liability Partnerships (Energy and Carbon Report) Regulations 2018.

The data detailed in this table represent emissions and energy use for which we are responsible, including energy used in our offices and accommodation services. We have used the main requirements of the Greenhouse Gas Protocol Corporate Standard to calculate our emissions, along with the UK Government GHG Conversion Factors for Company Reporting 2020. Any estimates included in our totals are derived from actual data.

GHG Emissions and energy use data
for the period:		 Current
Reporting Year
(2024/25) UK &
Offshore		 Previous
Reporting Year
(2023/24) UK &
Offshore		 % Change
Current to Last
Year
Total Gross Scope 1 - Gas (tCO2e) 269.96 323.17
-16%
Total Gross Scope 2 - Electricity (tCO2e) 126.51
171.80
-26%
Total Gross Scope 3 - Greyfleet(tCO2e) - -
0%
Total Gross (tCO2e) 396.47
494.97
-20%
Intensity Metric (Gross Scope 1&2):
tCO2e/£m turnover		 9.04
12.06
-25%
Scope 1 (Mains Gas) UK Energy
Consumption (kWh)		 1,475,980.00
1,766,668.00
-16%
Scope 2 (Electricity) UK Energy
Consumption (kWh)		 611,016.00
829,663.00
-26%
Scope 3 (Grey fleet, T&D) Energy
Consumption (kWh)		 - - 0%
Total UK Energy Consumption (kWh) 2,086,996.00
2,596,331.00
-20%

Energy Efficiency Activities over financial year

Single Homeless Project undertook the following energy efficiency activities during the assessment period:

ESOS Review Summary

The Energy Savings Opportunity Scheme (ESOS) is a mandatory energy assessment scheme for large UK organisations and their corporate groups. It requires an audit of the energy used by your buildings, industrial processes and transport to identify cost-effective energy-saving measures. An assessment was undertaken at 31 March 2024 with the next one due to be undertaken in 2028. Single Homeless Project continues to push for the implementation and adoption of the recommendations from the ESOS assessment mentioned below across all of its services.

Several recommendations have been made following the report and Single Homeless Project intends to push to implement the first stage of the zero cost recommendations immediately. These include behaviour changes such as ensuring computers are switched off when not in use and improving controls by adjusting HVAC settings and reducing heating set points where possible.

Further recommendations are those with a low implementation cost and short and long term investment options. These include boiler optimisers, energy efficient lighting, heat transfer fluids, refrigeration, Solar PV, energy monitoring and smart TVR’s. These options need to be considered as a wider part of Single Homeless Project’s investment strategy as well as how implementation can be achieved for the sites which are not owned by Single Homeless Project, as this makes up the majority of our energy consuming buildings.

Future Plans

Trustees approved a new five-year strategy in March 2025 with four overarching aims:

Prevention, Intervention & Recovery

We’re going to reach more people, earlier. That means growing our prevention services, expanding our presence in more boroughs, and making sure there’s no wrong door when someone needs help. We’ll go to the places people already turn to for support—and make homelessness prevention part of everyday systems.

We’re also focused on people who are already in vulnerable housing—doubling our outreach team, increasing our Housing First capacity, and continuing to offer tenancy sustainment to over 1,000 people living in Clearing House accommodation each year.

Women’s homelessness will be a core focus. We’ll develop gender-informed services and continue to influence national and local policy so that this becomes the standard—not the exception.

We’re embedding the voices of the people we support throughout everything we do. From recruitment and service design to strategy and governance, lived experience will shape our direction.

Health, Wellbeing & Opportunity

We’re growing our health offer with dedicated support for women, for people in hostels, for clients in our tenancy sustainment services. We aim to develop a care team, and every client in our pathways and TST will have access to a health navigator.

We’re scaling up therapy and psychological support, especially for young people.

We will build stronger partnerships with the NHS, social care and public health to build services that truly wrap around people—with fewer gaps, fewer delays, and better outcomes.

On the employment side, we’ll work to secure new contracts, earn Individual Placement Support accreditation, and offer practical, personalised support that helps people not only get into work - but stay there and thrive .

For young people in our pathway services—we’ve set an ambitious goal: to reduce the number who are not in education, training or work by 25%.

A Voice That Drives Change

We will continue turning frontline insight into sector-wide influence, making sure the voices of our clients reach the places where decisions get made.

One area where we’ve already seen impact is women’s homelessness. Thanks to our leadership in the Women’s Rough Sleeping Census, the GLA has backed the Manifesto for Change, and we’re pushing hard to get that census methodology embedded into national policy so that women’s experiences stop being overlooked and start being properly supported.

We will continue influencing how services for people with co-occurring conditions are commissioned. We know that fragmented care doesn’t work. So, we’re proving—with evidence—that when health, social care and housing services work together, people get better outcomes.

We will evidence what works, and then fight to make sure it gets funded, embedded, and rolled out.

Strengthening Our Foundations

Over the next three years, we’ll triple our fundraised income to £6 million, so we can fund lifechanging programmes, deliver more support, and do it in ways that are values-led and not just contract-driven.

We’re also diversifying the markets we work in - because relying on one type of funding limits our ambition. We want to grow our income, expand our impact, and reach 15,000 people annually.

We’ll work towards becoming a Registered Provider, which means we can offer more homes, and access new funding routes. That’s about securing more of the right kinds of accommodation for people who need it most.

We’re investing in our staff - embedding career development, strengthening team stability, reducing reliance on temporary staff, and making sure every role is fully resourced and supported.

And we’re using tech in smarter ways—updating our systems, improving security, and using automation and AI to free up time so people can focus on what matters most: relationships and impact.

Structure, governance and management

Governance

Single Homeless Project is a charity and a company limited by guarantee with no share capital. None of the Trustees has any beneficial interest in Single Homeless Project. All Trustees are members of the company and guarantee to contribute such amount as may be required (not exceeding £1) to its assets in the event of a winding up. All trustees give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed from the charity are set out in note 7 to the accounts.

Single Homeless Project’s business is conducted under the framework of its governing Articles of Association.

Trustees are selected by open advertisement. In accordance with the Articles of Association, one third of the Trustees resigns by rotation each year and, if willing, stands for re-election at the September Board meeting alongside any prospective new Trustees and Trustees co-opted during the year.

During the recruitment process prospective Trustees are interviewed by Board members, meet the Chair of the Board and the Chief Executive and are briefed on Single Homeless Project’s work, strategy and its governance arrangements. They are also required to visit scheme-based services and to observe at a Board meeting. Once elected or co-opted, all Board members participate in a programme of regular visits to Single Homeless Project services which enable members to meet staff and clients, to develop a more in- depth understanding of the service and some of the challenges faced and the outcomes achieved, and to provide feedback to the Board.

Organisational structure

Single Homeless Project’s Board has ultimate responsibility for all aspects of Single Homeless Project’s work, in particular determining strategy and direction, setting the annual budget and monitoring performance and service delivery.

• In addition to the Board, Single Homeless Project has four committees: Finance and Audit, Services, Nominations and Governance, and the newly established Fundraising and Communications Committee. In addition, the Property Committee meets on an ad hoc basis and oversees the purchase of premises or accommodation for Single Homeless Project.

• The Finance and Audit Committee is responsible for monitoring Single Homeless Project’s financial performance, risk management and probity. It also oversees Single Homeless Project’s pension arrangements.

• The Services Committee monitors client services and outcomes, safeguarding and client satisfaction.

• The Nominations and Governance Committee oversees the charity’s governance arrangements; the approach to Board renewal and succession planning; corporate pay policy and recommends executive remuneration levels to the Board.

• The Fundraising and Communications Committee supports the development and implementation of the fundraising and communications strategies, ensuring they align with Single Homeless Project’s strategies and that practices are compliant with the fundraising regulator.

The Board delegates day-to-day running of the organisation to a qualified, salaried senior management team led by the Chief Executive with membership including the Director of Services and Deputy Chief Executive, Director of Finance, IT and Facilities, Director of Human Resources and Organisational Development and Director of Business Development and Fundraising.

In January 2025, following Board review and approval, Single Homeless Project updated its Equity, Diversity and Inclusion Policy and published the new version. The policy among other provisions, makes clear Single Homeless Project's approach to the employment, support and development of people with disabilities, including: building an inclusive culture where all staff feel valued and empowered; understanding the connection between our charitable purpose of promoting inclusion for our clients and being an inclusive employer; interviewing all applicants who declare a disability who meet the person specification for a role; providing reasonable adjustments to enable all staff to give their best contribution at work; ensuring that access to training and development opportunities are based on merit only; and carrying out monitoring of staff data to ensure that the policy aim is being achieved. The policy also refers staff in particular to Single Homeless Project's Recruitment Policy and Procedure and Prevention of Bullying and Harassment Policy and Procedure.

Remuneration policy for key management personnel

Single Homeless Project’s Pay Policy lays out the following steps for setting pay for roles in Single Homeless Project:

Currently, Single Homeless Project’s current target benchmark position is the median position.

The Nominations and Governance Committee of Single Homeless Project’s Board of Trustees are responsible for approving the policy and process for reviewing Executive Management Team remuneration, taking appropriate independent advice and making recommendations to the Board of Trustees. The Board are responsible for considering these recommendations and approving any decisions about Executive Management Team pay.

Statement of trustees’ responsibilities

The trustees (who are also directors of Single Homeless Project for the purposes of company law) are responsible for preparing the trustees’ report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of Single Homeless Project’s affairs and of its incoming resources and application of resources, including the income and expenditure, for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time Single Homeless Project’s financial position and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding Single Homeless Project’s assets and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the trustees are aware:

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on Single Homeless Project’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Auditor

Sayer Vincent LLP was re-appointed as the charitable company’s auditor during the year and has expressed its willingness to continue in that capacity.

The trustees’ annual report which includes the strategic report has been approved by the trustees on 16 July 2025 and signed on their behalf by:

Liz Rutherfoord, Secretary

3. Independent auditor’s report

Opinion

We have audited the financial statements of Single Homeless Project (the ‘charitable company’) for the year ended 31 March 2025 which comprise the statement of financial activities, balance sheet, statement of cash flows 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 FRS 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 charitable company 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 trustees' 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 Single Homeless Project'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 other information comprises the information included in the trustees’ annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. 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. 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 course of 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 the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ annual report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the statement of trustees’ responsibilities set out in the trustees’ annual report, including the strategic report, 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

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 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud are set out below.

Capability of the audit in detecting irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following: We enquired of management and the Finance and Audit Committee, which included obtaining and reviewing supporting documentation, concerning the charity’s policies and procedures relating to:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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

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. 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.

Joanna Pittman (Senior statutory auditor) 7 August 2025

for and on behalf of Sayer Vincent LLP, Statutory Auditor 110 Golden Lane, LONDON, EC1Y 0TG

Single Homeless Project

Statement of financial activities (incorporating an income and expenditure account)

For the year ended 31 March 2025

Note
Income from:
2
3
4
5
5
6
Reconciliation of funds:
Total funds carried forward
Transfers between funds
Net movement in funds
Total funds brought forward
Net income / (expenditure) for the year
before transfers
Client services
Raising funds
Total expenditure
Charitable activities
Client services
Investments - interest receivable
Total income
Expenditure on:
Other sources
Surplus from Sale of Park Road Property
Donations and legacies
Charitable activities		 Unrestricted
£
1,231,836
41,424,130
128,947
550,023
-		 Restricted
£
543,335
169,857
-
-
-		 2025
Total
£
1,775,171
41,593,987
128,947
550,023
-
44,048,128
645,758
43,075,372
43,721,130
326,998
-
326,998
6,649,878
6,976,875		 Unrestricted
£
979,510
38,847,887
72,196
265,851
-		 Restricted
£
648,880
173,346
-
-
65,500		 2024
Total
£
1,628,391
39,021,233
72,196
265,851
65,500
43,334,936 713,192 40,165,444 887,727 41,053,171
645,758
42,299,531		 -
775,841		 522,218
39,144,362		 -
966,146		 522,218
40,110,508
42,945,289 775,841 39,666,580 966,146 40,632,726
389,647
(23,984)		 (62,649)
23,984		 498,864
(93,905)		 (78,420)
93,905		 420,445
-
365,663
4,957,647		 (38,665)
1,692,231		 404,959
4,552,688		 15,485
1,676,745		 420,445
6,229,433
5,323,310 1,653,565 4,957,647 1,692,231 6,649,878

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 17 to the financial statements.

Single Homeless Project

Balance sheet

Balance sheet Balance sheet
As at 31 March 2025 Company no. 1741926
Note
£
Fixed assets:
11
Current assets:
12
3,638,913
15,001
7,092,564
10,746,478
Liabilities:
13
(6,244,828)
17a
2,542,368
2,780,942
Total unrestricted funds
Total charity funds
The funds of the charity:
Creditors: amounts falling due within one year
Net current assets
Total net assets
Restricted income funds
Unrestricted income funds:
Designated funds
General funds
Cash at bank and in hand
Short term deposits
Tangible assets
Debtors		 2025
£
2,475,225		 £
4,270,523
15,001
5,119,340		 2024
£
2,545,772
2,475,225
4,501,650		 2,545,772
4,104,107
10,746,478
(6,244,828)		 9,404,864
(5,300,758)
2,542,368
2,780,942		 2,437,678
2,519,969
6,976,875 6,649,878
1,653,565
5,323,310		 1,692,230
4,957,647
6,976,875 6,649,878

Approved by the trustees on 23 July 2025 and signed on their behalf by

Jon Rosser Chair

Peter Brogden Treasurer

Single Homeless Project

Statement of cash flows

For the year ended 31 March 2025

Reconciliation of net income to net cash flow from operating activities

Net income for the reporting period
(as per the statement of financial activities)
Depreciation charges
Dividends, interest and rent from investments
Profit on Sale of Park Road
(Increase) / Decrease in debtors
(Decrease) / Increase in creditors
Net cash used in operating activities
Note
£
£
1,892,108
128,947
-
(47,830)
81,117
-
-
1,973,223
5,134,340
7,107,565
Analysis of cash and cash equivalents and of net debt
At 1 April 2024
£
5,119,339
15,001
Total cash and cash equivalents
5,134,340
Notice deposits (less than 3 months)
Net cash used in operating activities
Cash flows from operating activities
Purchase of fixed assets
Cash at bank and in hand
Cash and cash equivalents at the end of the year
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Net cash used in investing activities
Cash flows from investing activities:
Dividends, interest and rents from investments
Cash flows from financing activities:
Repayments of borrowing
Net cash (used by) / provided by financing activities
Sale of fixed assets
2025		 Net income for the reporting period
(as per the statement of financial activities)
Depreciation charges
Dividends, interest and rent from investments
Profit on Sale of Park Road
(Increase) / Decrease in debtors
(Decrease) / Increase in creditors
Net cash used in operating activities
Note
£
£
1,892,108
128,947
-
(47,830)
81,117
-
-
1,973,223
5,134,340
7,107,565
Analysis of cash and cash equivalents and of net debt
At 1 April 2024
£
5,119,339
15,001
Total cash and cash equivalents
5,134,340
Notice deposits (less than 3 months)
Net cash used in operating activities
Cash flows from operating activities
Purchase of fixed assets
Cash at bank and in hand
Cash and cash equivalents at the end of the year
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Net cash used in investing activities
Cash flows from investing activities:
Dividends, interest and rents from investments
Cash flows from financing activities:
Repayments of borrowing
Net cash (used by) / provided by financing activities
Sale of fixed assets
2025		 Net income for the reporting period
(as per the statement of financial activities)
Depreciation charges
Dividends, interest and rent from investments
Profit on Sale of Park Road
(Increase) / Decrease in debtors
(Decrease) / Increase in creditors
Net cash used in operating activities
Note
£
£
1,892,108
128,947
-
(47,830)
81,117
-
-
1,973,223
5,134,340
7,107,565
Analysis of cash and cash equivalents and of net debt
At 1 April 2024
£
5,119,339
15,001
Total cash and cash equivalents
5,134,340
Notice deposits (less than 3 months)
Net cash used in operating activities
Cash flows from operating activities
Purchase of fixed assets
Cash at bank and in hand
Cash and cash equivalents at the end of the year
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Net cash used in investing activities
Cash flows from investing activities:
Dividends, interest and rents from investments
Cash flows from financing activities:
Repayments of borrowing
Net cash (used by) / provided by financing activities
Sale of fixed assets
2025		 2025
£
326,998
118,376
(128,947)
-
631,611
944,070		 2024
£
420,445
151,489
(72,196)
(65,500)
(18,659)
1,061,666
1,892,108 1,477,245
£
£
1,477,245
72,196
522,695
(109,170)
485,721
-
-
1,962,966
3,171,375
5,134,340
Cash flows
At 31 March
2025
£
£
1,973,225
7,092,564
-
15,001
2024
- -
- -
Cash flows
£
1,973,225
-
1,973,223
5,134,340		 1,962,966
3,171,375
7,107,565 5,134,340
At 1 April 2024
£
5,119,339
15,001		 At 31 March
2025
£
7,092,564
15,001
5,134,340 1,973,225 7,107,565

Single Homeless Project

Notes to the financial statements

For the year ended 31 March 2025

a) Statutory information

Single Homeless Project is a charitable company limited by guarantee and is incorporated in the United Kingdom.

The registered office address is 245 Grays Inn Road, London, WC1X 8QY.

b) Basis of preparation

The financial statements have been prepared in accordance with the Charities SORP FRS 102, "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)", FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.

The accounts have included the tangible assets for Elms at fair value at the point of acquisition.

Key judgements that SHP has made which have a significant effect on the accounts include estimating the provision for bad debts arising from arrears of rent and service charges.

c) Public benefit entity

SHP meets the definition of a public benefit entity under FRS 102.

d) Going concern

The Trustees consider that there are no material uncertainties about SHP's ability to continue as a going concern.

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.

e) Income

Income is recognised when SHP has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and the amount can be measured reliably.

Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met.

f) Donations of gifts, services and facilities

On receipt, donated gifts, professional services and facilities are recognised on the basis of the value of the gift to SHP which is the amount SHP would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

g) Interest receivable

Interest on funds held on deposit is included when receivable and SHP can be measure the amount reliably; this is normally upon notification of the interest paid or payable by the bank.

h) Fund accounting

Restricted funds are used for specific purposes set out by donors. Expenditure which meets these criteria is charged to the fund. Unspent balances are carried forward for use in future years. The purposes and uses of restricted funds are set out in the notes to the accounts.

Unrestricted funds are other incoming resources received or generated for SHP's charitable purposes.

Designated funds comprise funds which have been set aside at the discretion of the Trustees for specific purposes. The purposes and uses of designated funds are set out in the Trustees' report.

Single Homeless Project

Notes to the financial statements

For the year ended 31 March 2025

1 Accounting policies (continued)

i) Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Expenditure includes attributable VAT which cannot be recovered.

j) Allocation of support costs

Resources expended are allocated to the particular activity where the cost relates directly to that activity. However, the cost of overall direction and administration of each activity, comprising the salary and overhead costs of the central functions, is apportioned on the following basis which is an estimate, based on staff time, of the amount attributable to each activity.

 Client services 88%

 Support and governance costs 12%

Support and governance costs are re-allocated to each of the activities on the following basis which is an estimate, based on direct costs, of the amount attributable to each activity  Client services 100%

Governance costs are the costs associated with SHP's governance arrangements. These costs are associated with constitutional and statutory requirements and include any costs associated with the strategic management of SHP’s activities.

k) Operating leases

Rental charges are charged on a straight line basis over the term of the lease.

l) Tangible fixed assets

Freehold land and buildings are stated at cost with the exception of Elms assets recognised at fair value at the date of acquisition, which is now the deemed cost. Freehold land is not depreciated.

Movable assets and all computer hardware and software costing over £1,000 are capitalised.

Tangible assets are stated at cost less depreciation.

Depreciation is provided at rates calculated to write down the cost of each asset, except land, to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

m) 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.

n) Cash at bank and in hand

Cash at bank and cash in hand includes cash and bank balances accessible at less than 24 hours' notice. Short term deposits are accessible at more than 24 hours' notice, but less than three months.

Single Homeless Project

Notes to the financial statements

For the year ended 31 March 2025

1 Accounting policies (continued)

o) Creditors and provisions

Creditors and provisions are recognised where SHP 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.

SHP 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.

p) Pensions

SHP operates a group personal pension scheme and an auto-enrolement pension scheme with defined employer's and employees' contributions. The pension costs charged in the accounts represent the contributions payable by SHP during the year.

Single Homeless Project

Notes to the financial statements

For the year ended 31 March 2025

2 Income from donations

Income from donations
Health Programme
Project Kali
Cripplegate Foundation
Arts House
Achieving Potential
Comeback Kitchen
Green House
Sound House
Westminster Almshouses
Other donations and grants
Psychotherapies		 Unrestricted
£
1,231,836		 Restricted
£
-
200,783
45,477
36,548
31,579
51,225
71,383
10,000
51,352
44,990		 2025
Total
£
-
200,783
45,477
36,548
31,579
51,225
71,383
10,000
51,352
44,990
1,231,836		 Unrestricted
£
979,510		 Restricted
£
2,958
146,862
48,138
30,840
68,538
19,412
53,342
10,219
195,957
72,615		 2024
Total
£
2,958
146,862
48,138
30,840
68,538
19,412
53,342
10,219
195,957
72,615
979,510
1,231,836 543,335 1,775,171 979,510 648,880 1,628,391
3
Unrestricted
£
16,141,292
4,966,004
890,566
457,080
6,140,637
477,719
1,329,515
739,989
920,514
447,874
613,402
1,157,886
3,317,514
996,578
148,496
LB Enfield
278,581
LB Havering
-
GLA
2,400,483
Grants:
Sport Programme
41,424,130
LB Newham
LB Lewisham
LB Lambeth
Income from charitable activities
Royal Borough of Kensington and
Chelsea
National Probation Service
Westminster City Council
Royal Borough of Greenwich
Total
income
from
provision
of
client services
Rents and service charges
LB Islington
Support service contracts:
LB Wandsworth
LB Waltham Forest
LB Redbridge
LB Hammersmith & Fulham
LB Hackney
LB Camden		 Unrestricted
£
16,141,292
4,966,004
890,566
457,080
6,140,637
477,719
1,329,515
739,989
920,514
447,874
613,402
1,157,886
3,317,514
996,578
148,496
278,581
-
2,400,483
 Restricted
£
169,857		 2025
Total
£
16,141,292
4,966,004
890,566
457,080
6,140,637
477,719
1,329,515
739,989
920,514
447,874
613,402
1,157,886
3,317,514
996,578
148,496
278,581
-
2,400,483
169,857		 Unrestricted
£
14,555,682
4,595,428
808,041
410,874
6,459,517
671,938
1,314,637
512,919
1,487,097
280,599
565,564
1,019,212
2,895,283
765,180
148,778
3,325
20,884
2,332,931		 Restricted
£
173,346		 2024
Total
£
14,555,682
4,595,428
808,041
410,874
6,459,517
671,938
1,314,637
512,919
1,487,097
280,599
565,564
1,019,212
2,895,283
765,180
148,778
3,325
20,884
2,332,931
173,346
169,857 41,593,987 38,847,887 173,346 39,021,233

Single Homeless Project

Notes to the financial statements

For the year ended 31 March 2025

4 Income from other sources

Income from other sources
Sundry income Unrestricted
£
550,023		 Restricted
£
-		 2025
Total
£
550,023		 Unrestricted
£
265,851		 Restricted
£
-		 2024
Total
£
265,851
550,023 - 550,023 265,851 - 265,851

Single Homeless Project

Notes to the financial statements

For the year ended 31 March 2025

5a Analysis of expenditure (current year)

Staff costs (Note 8)
Housing management and services
Rents payable to Registered Providers
Other direct client service costs
Staff welfare, training and travel
Office rents, rates, energy, cleaning, repairs and services
Depreciation
Other support costs
Support costs
Governance costs
Total expenditure 2025
Total expenditure 2024		 Cost of raising
funds
£
342,616
303,142
645,758
-
-
645,758
522,218		 Charitable
activities
Client services
£
24,637,485
5,546,020
5,413,356
1,677,800
90,416
463,091
37,828,168
5,176,248
70,955
43,075,371
40,110,508		 Governance
costs
£
35,915
35,040
70,955
-
(70,955)
-
-		 Support
costs
£
4,118,458
246,412
286,549
118,376
406,453
5,176,248
(5,176,248)
-
-
-		 2025 Total
£
29,134,474
5,546,020
5,413,356
1,677,800
336,828
749,640
118,376
744,635
43,721,129
-
-
43,721,129
-		 2024
Total
£
26,947,999
5,263,799
4,855,887
1,582,708
324,185
913,076
151,489
593,584
40,632,726
-
-
40,632,726

Single Homeless Project

Notes to the financial statements

For the year ended 31 March 2025

5b Analysis of expenditure (prior year)

Staff costs (Note 8)
Housing management and services
Rents payable to Registered Providers
Other direct client service costs
Staff welfare, training and travel
Office rents, rates, energy, cleaning, repairs and services
Depreciation
Other support costs
Support costs
Governance costs
Total expenditure 2024		 Cost of
raising funds
£
273,371
-
-
-
-
-
-
248,847
522,218
-
-
522,218		 Charitable
activities
Client
services
£
22,947,927
5,263,799
4,855,887
1,582,708
91,308
735,149
-
-
35,476,778
4,558,569
75,162
40,110,508		 Governance
costs
£
37,572
-
-
-
-
-
-
37,590
75,162
-
(75,162)
-		 Support
costs
2024
Total
£
£
3,689,129
26,947,999
-
5,263,799
-
4,855,887
-
1,582,708
232,877
324,185
177,927
913,076
151,489
151,489
307,148
593,584
4,558,569
40,632,726
(4,558,569)
-
-
-
-
40,632,726

Single Homeless Project

Notes to the financial statements

For the year ended 31 March 2025

This is stated after charging:

This is stated after charging:
2025 2024
£ £
Depreciation 118,376 151,489
Operating lease rentals:
Property 284,817 278,820
Other - 22,993
Auditor's remuneration (excluding VAT)
Audit 18,950 18,350

Staff costs were as follows:

Staff costs were as follows:
Employer’s contribution to defined contribution pension schemes
Agency staff
Salaries and wages
Redundancy and termination costs
Social security costs		 2025
£
22,309,020
44,145
2,114,641
1,481,449
3,185,218		 2024
£
20,169,588
43,468
1,881,208
1,335,872
3,517,863
29,134,474 26,947,999

The number of employees who received employee benefits (excluding employer pension costs) of £60,000 or more during the year was:

£70,000 - £79,999
£80,000 - £89,999
£100,000 - £109,999
£90,000 - £99,999
£60,000 - £69,999		 2025
No.
10
1
2
1
1		 2024
No.
4
1
2
2
-

The highest paid employee, earned pre-salary sacrifice emoluments (excluding pension contributions) of £100,507. This is not for the CEO who has declined pay increases for the last several years. For the year ending March 2025, the highest salary to median salary ratio at SHP was 1:3.36, compared to previous year (1:3.46). SHP’s gender pay gap snap shot in April 2024 shows a mean gender pay gap of -0.57% (2023: -1.49%) and a median gender pay gap of -2.82% (2023: -0.74%).

The total employee benefits including pension contributions and employers' NIC, of the Executive Management Team were £527,659 (2024: £507,185 ).

The Trustees were not paid and did not receive any other benefits from employment with SHP in the year (2024: £nil). None of the Trustees received payment for professional or other services supplied to SHP (2024: £nil).

Trustees' expenses for payment or reimbursement of travel and subsistence costs, totalling £Nil (2024: £Nil) relating to attendance at meetings of the Trustees.

Single Homeless Project

Notes to the financial statements

For the year ended 31 March 2025

8 Staff numbers

The average number of employees (head count based on number of staff employed) during the year was as follows:

Raising funds
Providing client services
Support and governance		 2025
No.
7
791
90		 2024
No.
7
745
86
888 838

9 Related party transactions

There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties.

There are no other related party transactions to disclose for 2025 (2024: none).

10 Taxation

SHP is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

11 Tangible fixed assets

Tangible fixed assets
At 31 March 2025
Net book value
At 31 March 2025
At 1 April 2024
At 31 March 2025
Cost or Deemed cost
At 1 April 2024
Additions in year
Disposals in year
Depreciation
At 1 April 2024
Charge for the year
Disposal for the year		 Land and buildings
£
2,703,083
-
-		 Furniture and
equipment
£
598,209
47,830
(18,445)
Total
£
3,301,292
47,830
(18,445)
2,703,083 627,594 3,330,677
430,569
55,289
-		 324,951
63,087
(18,445)		 755,520
118,376
(18,445)
485,858 369,593 855,451
2,217,225 258,001 2,475,225
2,272,513 273,258 2,545,772

Land with a value of £1,220,866 (2023: £1,458,366) is included within freehold property and not depreciated.

All of the above assets are used for charitable purposes.

Single Homeless Project

Notes to the financial statements

For the year ended 31 March 2025

For the year ended 31 March 2025
12
Trade debtors
Arrears of rent and service charges
Prepayments and accrued income
Staff loans
13
Trade creditors
Taxation and social security
Other creditors
Deferred income - see note 14
Accruals
Creditors: amounts falling due within one year
Debtors		 2025
£
1,704,561
1,426,381
490,027
17,944		 2024
£
2,618,623
889,981
734,278
27,641
3,638,913 4,270,523
2025
£
2,412,556
516,944
(2,474)
1,765,799
1,552,003		 2024
£
1,658,623
458,876
(2,870)
1,514,993
1,671,135
6,244,828 5,300,758

14 Deferred income

Deferred income comprises 2025/26 contract income received in advance.

Balance at 1 April
Amount released to income in the year
Amount deferred in the year
Balance at 31 March		 2025
£
1,671,135
(1,671,135)
1,552,003		 2024
£
1,104,380
(1,104,380)
1,671,135
1,552,003 1,671,135

15a Analysis of net assets between funds (current year)

General
unrestricted Designated Restricted Total funds
£ £ £ £
Tangible fixed assets 258,001 1,692,325 524,899 2,475,225
Net current assets 2,522,941 850,043 1,128,666 4,501,650
Net assets at the end of the year 2,780,942 2,542,368 1,653,565 6,976,875

Single Homeless Project

Notes to the financial statements

For the year ended 31 March 2025

General Total
unrestricted Designated Restricted funds
£ £ £ £
Tangible fixed assets 273,258 1,712,678 559,877 2,545,813
Net current assets 2,246,712 725,000 1,132,352 4,104,063
Net assets at the end of the year 2,519,969 2,437,678 1,692,230 6,649,876

16a Movements in funds (current year)

Movements in funds (current year)
Health Programme
Comeback Kitchen
Total restricted funds
Total designated funds
Fair value reserve
General funds
ELMS Capital Reserve
Achieving Potential - Employability
Total funds
Restricted funds:
Catalyst Programme
GreenHouse
ArtHouse
Project Kali
Sport Programme
SoundHouse
Capital reserve
Relocation/refurbishment/H&S mods costs
Psychotherapies
WCC Mean
Westminster Almshouses
Information technology
ELMS
Unrestricted funds:
Designated funds:
Total unrestricted funds
Asset Investment		 At the start
of the year
£
8,981
-
-
(5,259)
-
-
1,151
-
9,667
14,383
6,691
-
559,877
1,096,738
Income & gains
£
36547
51225
45,477
169,857
31,579
200,783
71,383
-
10,000
51,352
44,990
-
-		 Expenditure &
losses
£
1,445
34,098
51,225
50,967
169,798
31,536
200,693
71,404
0
10,899
71,337
47,460
34,978
-
Transfers
£
(2,449)
10,750
(59)
(43)
-
21
13,294
2,470		 At the end of
the year
£
7,536
-
(1)
-
-
1,241
-
9,667
13,484
()
-
524,899
1,096,738
1,692,229 713,193 775,841 23,984 1,653,565
1,712,678
50,000
75,000
600,000		 -
-
-
-		 -
-
-
-		 (20,310)
-
25,000
100,000		 1,692,368
50,000
100,000
700,000
2,437,678 - - 104,690 2,542,368
-
2,519,969		 -
43,334,936		 -
42,945,289		 -
(128,674)		 -
2,780,942
4,957,647 43,334,936 42,945,289 (23,984) 5,323,310
6,649,877 44,048,129 43,721,130 - 6,976,875

Single Homeless Project

Notes to the financial statements

For the year ended 31 March 2025

16b Movements in funds (prior year)

Movements in funds (prior year)
Health Programme
Comeback Kitchen
Total restricted funds
Total designated funds
General funds
Total unrestricted funds
Total funds
Westminster Almshouses
ELMS
Unrestricted funds:
Designated funds:
Capital reserve
Relocation/refurbishment/H&S mods costs
Information technology
Restricted funds:
ELMS Capital Reserve
Psychotherapies
WCC Mean
Catalyst Programme
GreenHouse
ArtHouse
Project Kali
Sport Programme
SoundHouse
Achieving Potential - Employability
Furnishings and equipment
Property maintenance
Innovation and evaluation
Asset Investment		 At the start
of the year
£
7,070
-
-
18,771
-
-
-
-
9,667
9,254
5,792
-
1,052,147
574,043
Income & gains
£
2958
30840
19,412
48,138
173,346
68,538
146,862
53,342
-
10,219
195,957
72,615
-
65,500		 Expenditure &
losses
£
1,047
69,010
29,738
72,168
173,270
81,001
145,712
85,317
-
5,090
195,058
73,662
35,075
-
Transfers
£
-
38,170
10,326
-
(76)
12,463
-
31,975
-
-
-
1,047
(457,195)
457,195		 At the end of
the year
£
8,981
-
-
(5,259)
-
-
1,151
-
9,667
14,383
6,691
-
559,877
1,096,738
1,676,744 887,727 966,146 93,905 1,692,230
1,712,678
50,000
75,000
150,000
115,000
40,000		 -
-
-
-
-
-		 -
-
-
-
-
-		 -
-
-
(150,000)
(115,000)
(40,000)
600,000		 1,712,678
50,000
75,000
-
-
-
600,000
2,142,678 - - 295,000 2,437,678
2,410,010 40,165,444 39,666,580 (388,905) 2,519,969
4,552,688 40,165,444 39,666,580 (93,905) 4,957,647
6,229,433 41,053,171 40,632,726 - 6,649,878

Purposes of restricted funds

The Catalyst programme, funded by the Cripplegate Foundation, provides financial assistance to address isolation and to connect vulnerable Islington residents with opportunities and services.

The GreenHouse programme was funded by Trusts and Corporate Foundations, which include BUPA UK Foundation, Swire Charitable Trust, StarLizard, Nvieneh Trust and Chapman Trust. The programme engages clients with gardening and food growing activities across several SHP managed gardens and allotments, bringing enormous benefits for mental wellbeing, personal development and recovery.

The ArtHouse Programme was funded by our corporate partners JTI and StarLizard. The programme provides a range of art related activities across SHP services and a diverse art related activities supporting people to find jobs and volunteering opportunities within the creative industries.

The SoundHouse programme, funded by Youth Music, Joe Strummer Fund, and StarLizard is an ambitious SHP-wide music project which brings young artists and creatives together with professional musicians and producers to create new and original music and media.

The Sport Programme is funded by Reaching Communities National Lottery Fund, London Marathon Evets, London Housing Foundation, NFL Foundation, TfL Walking and Cycling Grants to transforms the lives of people experiencing homelessness through sport and physical activity. The initiative is designed to get people more active, to prolong their lives, improve mental and physical health and reduce isolation.

Single Homeless Project

Notes to the financial statements

For the year ended 31 March 2025

Purposes of restricted funds (continued)

The Therapies Programme funded by Compass Wellbeing, Star Lizard and Cripplegate, provides in-house theraphy and councelling for clients across various SHP services.

The Health Programme funded by the KKR Foundation provides a path forward in creating and initiating immediate mental and physical health support for the most vulnerable homeless people in Westminster, Camden, Islington, Newham and Redbridge by creating specialist Health Lead roles in our hostels.

Project Kali – Housing First is funded by the City Bridge Trust. Project Kali is designed to support women whose needs may not be met effectively by other services. The project aims to provide emotional and practical support to women in crisis, identifying women with multiple disadvantage who are at risk of homelessness following their release from prison.

Achieving Potential the employability programme, funded by Qsix, Nationwide Foundation, Workspace, Portal Trust, Kilburn and Strode, Story of Christmas, Community Grid Funding, and legacy donations provides our clients with a clear pathway away from our support services and into independence in their local community. It focuses on working with our clients - described as advanced on their recovery journey and contemplating ETE opportunities.

ELMS reserves were created at the point of merger in may 2020 and were initially restricted for a period of three years to ensure delivery of a therapy services to those historical clients of the East London Mental Health Service. The programme has since ended and a new use for these reserves is yet to be decided.

Purposes of designated funds

SHP's funds include designated funds which the Trustees have set aside out of unrestricted funds for specific purposes. These are described in the Trustees' report.

17 Operating lease commitments

SHP's total future minimum lease payments under non-cancellable operating leases is as follows for each of the following periods

Less than one year
One to five years
Over five years		 2025
2024
£
£
66,960
182,230
133,920
200,880
-
-
Property		 2025
2024
£
£
66,960
182,230
133,920
200,880
-
-
Property
200,880 383,110

18 Legal status of the charity

SHP is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.

Single Homeless Project 245 Gray’s Inn Road, London, WC1X 8QY

www.shp.org.uk T: 0204 509 8300 E: info@shp.org.uk

Registered Charity Number: 287779 Company Limited by Guarantee Number 1741926