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2025-03-31-accounts

Charity registration number 0297806 (England and Wales) Company registration number 02164150

HOMELESS OXFORDSHIRE LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

HOMELESS OXFORDSHIRE LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Frank Webster
Anthony Alexander
Robin Rogers
David Cryer
Pamela Roberts
Clare Periton
Dr Carol Sweetenham
Natalie McClean (Appointed 5 February 2025)
Vanessa Ellis (Appointed 30 April 2025)
Michael Rudd (Appointed 30 April 2025)
James Boultbee (Appointed 30 April 2025)
Chief executive officer Simon Hewett-Avison
Charity number 0297806
Company number 02164150
Registered office O'Hanlon House
Luther Street
Oxford
OX1 1UL
Auditor Gravita Audit Oxford LLP
First Floor, Park Central
40-41 Park End Street
Oxford
OX1 1JD
Investment managers Cazenove Capital Management Limited
6 Worcester Street
Oxford
OX1 2BX

HOMELESS OXFORDSHIRE LIMITED

CONTENTS

Page
Trustees' report 1 - 9
Statement of Trustees' responsibilities 10
Independent auditor's report 11 - 14
Statement of financial activities 15
Balance sheet 16
Statement of cash flows 17
Notes to the financial statements 18 - 36

HOMELESS OXFORDSHIRE LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) FOR THE YEAR ENDED 31 MARCH 2025

The Trustees present their annual report and financial statements for the year ended 31 March 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

Objectives and activities

The charity continued to be governed by its agreed Mission, Aims and Objectives during the year. These are as follows:

Our mission:

To provide short term accommodation with access to high quality support and initiatives that enable homeless people to have a safe space in which they can begin to take control of their own lives.

Our aim:

The charity's aim is through the provision of a wide range of different types of accommodation homeless people will learn how to manage a tenancy, have improved self-esteem, a more positive self-identity and gain the skills that will enable them to move on, live and succeed with greater independence.

Our objectives:

Swift, effective, creative and lasting responses that support single people who find themselves homeless, including:

These objectives were achieved principally through the provision of O’Hanlon House Hostel and through a range of projects in our community-based accommodation.

Value Statement

Homeless Oxfordshire is driven by a set of values and firm beliefs.

Public Benefit

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake.

HOMELESS OXFORDSHIRE LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Review of Activities

With over 35 years’ experience, Homeless Oxfordshire is a successful organisation that has developed a considerable understanding of the specific needs of single, homeless and vulnerable adults. The charity has a strong track record of providing a range of specialist services within a psychologically informed environment and managing a significant portfolio of accommodation to meet these needs.

All of our charitable activities focus on supporting single homeless people to develop the skills and resilience to bring about change in their lives.

As the largest provider of accommodation for single homeless people in Oxfordshire each night we provide beds for 170 people. Through a range of innovative housing projects, we provide support to help people re-build their lives. Our projects include:

Housing First

Commissioned by the City Council this project provides 5 self-contained studios or flats for people who have been entrenched rough sleepers using the Housing First principles in relation to support.

Sapling

Commissioned by Public Health this project provides 6 bed spaces for clients who are in recovery from drug and/or alcohol dependency and have completed a period of residential detox treatment or rehabilitation.

Vineyard

Commissioned by the County Council this project provides 14 bed spaces for clients in the South & Vale District. The provision caters for a variety of needs.

Project 41

Commissioned by the City Council this project provides 36 rooms over 7 houses for people with medium-high support needs.

Women's Project

A supported housing project for women only, providing 4 rooms in a shared house.

O’Hanlon House Hostel

A 54 bed hostel for clients that may have been rough sleeping and who have complex needs.

Mawle Court

This is a project based in Banbury which we took over in late 2021. In 2024-25 Cherwell District Council commissioned 12 of the 28 beds at this site, with a further 4 being move-on. There were an additional 12 beds which are being used for people within our Step-Down project. The allocation of beds has been adjusted in 25-26.

Step-Up and Step-Down

These projects work with people either leaving hospital to provide a safe space to stay whilst working on a longerterm move on plan, or working with people to try and reduce hospitals admissions.

HOMELESS OXFORDSHIRE LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Future Developments

Across the county we continue to see the number of people rough sleeping, using temporary accommodation and facing homelessness increase. This puts a greater pressure on the demand for our services and makes it challenging to meet the needs of our residents. Our passionate and committed staff team continue to go above and beyond in these difficult times.

We have spent time this year looking to the future, making sure we are doing the best we can for our residents, working well in partnership and making the most of our valuable but finite resources. We have launched a new strategy and have three areas of focus for the period 2024-2027;

Specialised Housing and Support - Putting lived experience at the heart of all we do, we will be the experts in delivering high quality trauma informed support for people facing multiple disadvantage across Oxfordshire.

Homes and property - In collaboration with local authorities, registered providers and private landlords we will give people the opportunity to live in a place they feel safe and secure, and which provides the stability they need to take their next steps.

Resilience and sustainability - We will build a brilliant organisation with strong leadership and governance. We will grow and diversify our income whilst managing our costs and minimising our impact on the environment.

Rising demand and increasing call on our resources continue to pose a challenge, but we are in a good position to react and continue to provide vital housing and support to many of the most vulnerable people in Oxfordshire.

Investment Activities

Surplus monies are invested in line with the Charity’s investment policy with Cazenove Capital Management. Market value of the investments at 31 March 2025 is £570,468.

Factors in and out of Charity's Control

The arrival of a new Government in 2024 has reconfigured the landscape within which we operate. Indications are that there is a focus on developing a new homelessness strategy with an emphasis of prevention and the building of new affordable homes. We welcome this direction of travel although detail is as yet lacking about how funding will be distributed across local authority areas

A Consultation on Supported Accommodation has also been launched and alongside increased rights for renters has the potential to be biggest change to the sector for some time. The likely outcome is increased regulation more in line with Registered Providers with emphasis on Local Authorities to monitor. This provides a backdrop against which we will want to think about the future direction of the charity.

HOMELESS OXFORDSHIRE LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Reserves Policy

The charity’s funds are meant to be spent on charitable activity to the benefit of people experiencing homelessness across Oxfordshire. The Reserves Policy aims to ensure the charity’s work is protected from the risk of disruption due to lack of funds whilst at the same time ensuring surplus income is not retained for longer than required.

The charity segregates its funds into restricted and unrestricted funds.

Restricted funds have grown this year as we have been fortunate to be granted several funds reserved for some of our named projects.

Within unrestricted funds certain designated funds are set aside for specific purposes. There are currently 2 designated funds: A fixed asset fund and a Luther Street Medical Fund. Unrestricted funds excluding the Designated funds are classed as ‘Free Reserves’.

Before the end of the financial year we transferred a further £750,000 into our Fixed asset designated fund ahead of a proposed property purchase currently planned for the end of 2025. It is anticipated that a further amount of c £250,000 will also need transferring once the transaction takes place. This represents a major investment for the charity in improving its services for vulnerable women.

Homeless Oxfordshire takes a risk-based approach to setting its Reserves Policy and reviews this at least annually. Based on the latest risk assessment the Trustees have concluded the organisation should hold Free Reserves in a range of £1,250,000 to £1,500,000. This equates to 2-3 months expenditure. The charity’s income and expenditure are closely linked and therefore this is deemed sufficient to safeguard the organisation. More details can be found in the Homeless Oxfordshire Reserves Policy.

Free Reserves as at 31 March 2025 were ££1,797,562, c£300,000 above the policy range. The charity expects to utilise these excess reserves on charitable activities over the next 1-2 years, especially once a further property transaction is confirmed which we expect will require further funds being designated as mentioned above.

Pay and Reward

Homeless Oxfordshire is committed to transparency and legal compliance.

The Charity aims to pay its staff in an equitable and consistent manner at a level which promotes recruitment and retention in a high-cost area. Homeless Oxfordshire is an Oxford Living Wage employer and so all staff are paid at this rate or higher.

This year we took part in a sector benchmarking exercise to ensure we are paying competitively for the type of organisation we are and the work we do. This has provided a useful foundation for the coming few years and saw many of our staff receive an increase in their pay. It also enabled us to develop and publish a reward approach available to all staff, highlighting our commitment to pay transparency

The beliefs and behaviours of Homeless Oxfordshire are reflected in Job Descriptions and Person Specifications for all roles within the organization. As such, it is clear to all employees what skills, experiences, behaviours and culture are valued.

HOMELESS OXFORDSHIRE LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Income, Expenditure and Results

The charity achieved a surplus of £1.2m in the year.

We have not needed to recognise any actuarial gain or loss in 2024-25 or 2023-24 on the defined benefit pension scheme.

This represents a remarkable turnaround in results and it has been achieved through improvements in a number of areas.

Principally, following a few difficult years post covid, all areas of the charity are now headed up by full-time professional heads of department who have all made marked improvements in their respective areas.

The most obvious improvements have been in ensuring income has been maximised for all of our clients, the winning of new contracts, and a transformation of our fundraising results.

We have also ensured that contracts have been reviewed and savings made where possible, alongside improvements to processes, all of which has helped the charity move to a surplus position.

All of this stands us in good stead as we look to expand our offerings in 2025-2028, alongside targeting a period of break-even budgets.

Going Concern

After making appropriate enquiries and with income improving and a reduction in costs, the Trustees have a reasonable expectation that the charity has adequate funds and future income to continue for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.

Principal Funding

Main sources of funding for the charity are:

All money received by the charity from these income sources is spent on fulfilling the charity's objectives. The largest percentage of income is spent on support staff salaries, though a significant amount is also spent on the running of properties from which it operates (O'Hanlon House and various community properties), which are used to house homeless people and thus fulfil the objectives of the charity.

HOMELESS OXFORDSHIRE LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Fundraising Activities

With a new team in place and increased activity across fundraising and communications, fundraising income increased in 2024-25 with significant growth in trusts and foundations, corporate and individual giving.

Income (excluding legacies) finished at £712,987, with trusts and foundations becoming the major income (£290,505).

2025-26 strategic fundraising aims include:

Homeless Oxfordshire is a member of the Fundraising Regulator, and we follow the standards outlined in their fundraising code of practice. We have received no formal complaints.

Investment Policy

Surplus monies are invested in line with the charity's investment policy. The objective is to maximise returns whilst ensuring that funds are invested in an ethical and sustainable way.

Donations In Kind

The charity acknowledge the contribution of donations and gifts in kind from local businesses, community groups, and members of the public. Donations of food and practical items are passed on to service users in the project or to those who have been recently resettled and are being supported in their own accommodation.

Funds Held as Custodian

Homeless Oxfordshire on occasion acts as custodian trustee, holding small amounts of clients' monies for safekeeping, on request. Such money, totalling no more than £500 at any one time, is held in a safe and is subject to rigorous recording processes.

Structure, governance and management

Homeless Oxfordshire Ltd ('the charity') is a registered charity (charity number 297806) and a company limited by guarantee (company number 02164150). The charity was incorporated on 15th September 1987 as Oxford Night Shelter Limited. On the 4[th] November 2009 the name changed to Oxford Homeless Pathways Limited by special resolution. On 22[nd] November a subsequent special resolution was passed to confirm the current operating name of Homeless Oxfordshire Ltd.

The company no longer has two wholly owned subsidiaries, Reconnect Oxfordshire Ltd 10788419 was incorporated on 25th May 2017 and dissolved on 4 March 2025, and Hox Shop Ltd 13559343 which was incorporated on 11th August 2021 was dissolved on 29 October 2024 having never traded.

The governing documents are the Memorandum and Articles of Association.

HOMELESS OXFORDSHIRE LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Kate Hood (Resigned 6 August 2024) Frank Webster Anthony Alexander Robin Rogers David-Huw Owen (Resigned 18 December 2024) David Cryer Pamela Roberts Clare Periton Dr Carol Sweetenham Natalie McClean (Appointed 5 February 2025) Vanessa Ellis (Appointed 30 April 2025) Michael Rudd (Appointed 30 April 2025) James Boultbee (Appointed 30 April 2025)

Method of Appointment or Election of Trustees

Informal skills audit processes govern the selection of Trustees and appointments are made in accordance with the Articles of Association by receipt and approval of an application for membership and by an interview with members of the newly established Remuneration and Nominations Committee. Trustees are required to sign documentation confirming their eligibility to act in such a capacity, and to sign a Code of Conduct which sets out the expectations and obligations placed on trustees. Trustees receive an induction from the CEO and Chair of Homeless Oxfordshire and meet key personnel as part of this induction. The Trustees meet as the Board of Trustees, which also comprises observers and advisors provided by Oxford City Council from time to time.

Organisational Structure and Decision Making

The overall responsibility for the charity rests with the Board of Trustees, who are also appointed as directors of the charitable company.

Authority from the Trustees is delegated to the Chief Executive Officer, and is responsible for the day to day running of the charity.

HOMELESS OXFORDSHIRE LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Risk Management

Risk Areas

The charity is aware of non-financial risks presented by events and their outcomes that may have a significant effect on:

The organization has considered those major risks to which it is exposed and systems have been designed to mitigate those risks. Regular reports are brought to the Board of Trustees. Close review of the finances and reserves are undertaken. All operational and building risk assessments are reviewed annually, with routine regular inspections at frequent intervals. Specific staff members have been identified as having health and safety and safeguarding responsibilities.

All monitoring requirements are adhered to, with quarterly reports submitted to funders as per specific individual arrangements. A Business Continuity Plan is in place.

Our fixed assets relate to ownership and lease arrangements on accommodation for clients and the provision of Luther Street Medical Centre. Our balance sheet reflects the value of these property assets but these funds are not available for general charitable expenditure. The Trustees also note that its fixed assets generate ongoing maintenance and repairs cost for the charity.

There is a notice period built into each funding agreement (usually minimum three months) which would allow time to wind down services. This serves as protection against Homeless Oxfordshire becoming insolvent; in addition, insurance provides cover against inability to provide services because of damage to buildings etc. The risk to service charge income (from voids and bad debts) is covered by a cautious estimate of occupancy levels and bad debts in each year's budget; in addition, these statistics are closely monitored on an ongoing basis. A cash flow forecast and budget variance monitoring procedure is also maintained.

Related Party Relationships

The Charity received one donation from a trustee in the year.

HOMELESS OXFORDSHIRE LIMITED TRUSTEES. REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Dl•¢lo4ure of Infonnatlon to •udltor E8th of the per$on$ who arn TnJsteeB at the time when thls Twstee8' Report Is approved has confimied that.. So far 88 that Tru3lee8 are aware, the￿ 1$ no relevant Infomation of vthich the charity's audrtor IB unaware, and Trustees have taken all the 8lep8 that ought to have been token as TNilee8 in order to be aware ol any infomiation neoded by the charbty'8 auditor in connection ￿th proparfng 118 report and to e8tabli3h that Ihe chanty'8 auditor is awa￿ of th81 Information. The Trustees, report wa8 approved by the Board of Tru8teeB. Dr C&rol Sweetenham Dale..

HOMELESS OXFORDSHIRE LIMITED

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 MARCH 2025

The Trustees, who are also the directors of Homeless Oxfordshire Limited for the purpose 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 affairs of the Charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

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 the financial position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

HOMELESS OXFORDSHIRE LIMITED

INDEPENDENT AUDITOR'S REPORT

TO THE MEMBERS OF HOMELESS OXFORDSHIRE LIMITED

Opinion

We have audited the financial statements of Homeless Oxfordshire Limited (the ‘Charity’) for the year ended 31 March 2025 which comprise the statement of financial activities, the balance sheet, the 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 Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK (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 Charity 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 the Charity’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 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 our audit:

HOMELESS OXFORDSHIRE LIMITED

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF HOMELESS OXFORDSHIRE LIMITED

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Charity and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report included within the Trustees' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of Trustees

As explained more fully in the statement of Trustees' responsibilities, the Trustees, who are also the directors of the Charity for the purpose 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 Charity’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.

As part of an audit in accordance with ISAs (UK), the auditor exercises professional judgment and maintains professional skepticism throughout the audit.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

HOMELESS OXFORDSHIRE LIMITED

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF HOMELESS OXFORDSHIRE LIMITED

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

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

HOMELESS OXFORDSHIRE LIMITED

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF HOMELESS OXFORDSHIRE LIMITED

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.

Robert Kirtland (Senior Statutory Auditor)

For and on behalf of Gravita Audit Oxford LLP, Statutory Auditor Chartered Accountants First Floor, Park Central 40-41 Park End Street Oxford OX1 1JD Date: .........................2/9/2025

HOMELESS OXFORDSHIRE LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2025

Unrestricted
Restricted
funds
funds
2025
2025
Notes
£
£
Income from:
Donations and legacies
3
586,312
180,502
Charitable activities
4
3,784,164
1,658,922
Investments
5
63,251
-
Total income
4,433,727
1,839,424
Expenditure on:
Raising funds
6
318,256
-
Charitable activities
7
3,007,829
1,712,182
Other expenditure
33,680
-
Total expenditure
3,359,765
1,712,182
Net gains/(losses) on
investments
12
11,623
-
Net income/(expenditure) and
movement in funds
1,085,585
127,242
Reconciliation of funds:
Fund balances at 1 April 2024
2,231,099
156,696
Fund balances at 31 March
2025
3,316,684
283,938		 Total
Unrestricted
Restricted
funds
funds
2025
2024
2024
£
£
£
766,814
506,635
-
5,443,086
3,156,716
1,391,482
63,251
20,809
-
6,273,151
3,684,160
1,391,482
318,256
166,961
-
4,720,011
3,606,018
1,408,444
33,680
31,716
-
5,071,947
3,804,695
1,408,444
11,623
36,306
-
1,212,827
(84,229)
(16,962)
2,387,795
2,315,328
173,658
3,600,622
2,231,099
156,696		 Total
2024
£
506,635
4,548,198
20,809
5,075,642
166,961
5,014,462
31,716
5,213,139
36,306
(101,191)
2,488,986
2,387,795

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

HOMELESS OXFORDSHIRE LIMITED BALANCE SHEET AS AT 31 MARCH 2025 2025 2024 Flxed a8sets T8ngible 883ets Inveslrnents 13 14 1.810,746 570,48B 1,743,179 571.902 2,3B1.214 2.315,081 Currenl 48¥0t• Debtors Cash at bank and In hond 513,580 1,925,178 615,444 808.510 2,438,758 1,423.954 Crndltorn: •mount• falllng du• v41th1n on• y•ar 16 1319,3501 1451,2401 N•1 curr•nl 2,319.408 972,714 Tot•1 ••••l• l•M current Il•bllltl•• 4,500.622 3,287,795 Cr•dltoY•: •mount• filllng du• •ft•r mor• than on• y•ar 17 1900.0001 {900,0001 N•t 4•••t• ox¢ludlng p•n•lon Ilablllly 3,800.622 2.387,795 Oellned beneffjl penslon IIAbllJty 18 N•t *•••t• 3,600,822 2,387,795 The fund8 of th• Ch•rbty Restricted income funds Unre$trlcted fund8 19 283,936 3.318,884 156,696 2,231,099 3,600,822 2,387,795 The flnancial 8talem¢n18 w¢r¢ ¥pproved by th• TruBlee8 On . Dr Carol Swoelenham Company registratlon nurnbor 02164150 (Englond and WaleB} 18-

HOMELESS OXFORDSHIRE LIMITED

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025

Notes
Cash flows from operating activities
Cash generated from operations
25
Investing activities
Purchase of tangible fixed assets
Proceeds from disposal of tangible fixed
assets
Purchase of investments
Proceeds from disposal of investments
Investment income received
Net cash (used in)/generated from investing
activities
Net cash generated from financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2025
£
£
1,188,667
(148,307)
-
(127,333)
140,390
63,251
(71,999)
-
1,116,668
808,510
1,925,178		 2024
£
£
417,167
(11,248)
2,152
(38,476)
36,676
20,809
9,913
-
427,080
381,430
808,510		 2024
£
£
417,167
(11,248)
2,152
(38,476)
36,676
20,809
9,913
-
427,080
381,430
808,510
427,080
381,430
808,510

HOMELESS OXFORDSHIRE LIMITED

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

1 Accounting policies

Charity information

Homeless Oxfordshire Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is O'Hanlon House, Luther Street, Oxford, OX1 1UL.

1.1 Accounting convention

The financial statements have been prepared in accordance with the Charity's governing document, which is the Memorandum and Articles of Association, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK” (“FRS 102”) and the Charities SORP "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 (FRS 102)" (effective 1 January 2019). The Charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

The Charity is a company limited by guarantee. The members of the company are the Trustees named on page 1. In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the Charity.

1.2 Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Charity has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Charity, can be reliably measured.

HOMELESS OXFORDSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

Grants are included in the Statement of financial activities on receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Donated services or facilities are recognised when the Charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the Charity of the item is probable and that economic benefit can be measured reliably.

On receipt, donated professional services and facilities are recognised on the basis of the value of the gift to the Charity which is the amount it 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.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

Rental income, including Housing and other benefits, is accounted for on a receivable basis in line with nights' accommodation provided.

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings 2% straight line
Leasehold improvements 10% straight line
Fixtures and fittings 33% straight line
Computers 33% straight line
Motor vehicles 33% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

HOMELESS OXFORDSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

Certain freehold land and buildings are not depreciated as, in the option of the Trustees, the property is worth more than its net book value, and as such, any depreciation charge would be immaterial. Although this treatment is contrary to the Companies Act 2006 which states that fixed assets should be depreciated this is, in the opinion of the Trustees, necessary in order to give a true and fair view of the asset's true value.

1.7 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

Investments in subsidiaries are valued at cost less provision for impairment. The investments in the subsidiaries Reconnect Oxfordshire Limited and Hox Shop Ltd are not material to these financial statements and as such are not recognised on the Balance Sheet. The results if the subsidiaries are not material to the Charity and the Charity has therefore not prepared consolidated financial statements. Reconnect Oxfordshire Limited has the company registered number 10788419 and Homeless Oxfordshire Limited holds 100% of the issued share capital of Reconnect Oxfordshire Limited. Hox Shop Ltd has the company registered number 13559343 and Homeless Oxfordshire Limited holds 100% of the issued share capital of Hox Shop Ltd.

1.8 Impairment of fixed assets

At each reporting end date, the Charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10 Financial instruments

The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

HOMELESS OXFORDSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled.

1.11 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

HOMELESS OXFORDSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

2 Critical accounting estimates and judgements

In the application of the Charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements

Depreciation

Fixed assets are depreciated over their useful economic lives. Depreciation during the year ended 31 March 2025 was £80,741 (2024: £86,429).

Defined benefit pension

The value of the defined benefit plan is estimated based upon the report issued by an actuary. After the application of an asset ceiling, the value at 31 March 2025 was estimated to be £Nil (2024: liability of £Nil).

HOMELESS OXFORDSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

3 Income from donations and legacies

Unrestricted
Restricted
funds
funds
2025
2025
£
£
Donations and gifts
426,310
180,502
Grants
160,002
-
586,312
180,502		 Total
Unrestricted
Restricted
funds
funds
2025
2024
2024
£
£
£
606,812
461,643
-
160,002
44,992
-
766,814
506,635
-		 Total
2024
£
461,643
44,992
506,635

4 Income from charitable activities

Unrestricted
Restricted
funds
funds
2025
2025
£
£
Charitable activities
Rent and housing
benefits
3,276,146
-
Public authority funding
461,818
1,658,922
Rental income
46,200
-
3,784,164
1,658,922		 Total
Unrestricted
Restricted
funds
funds
2025
2024
2024
£
£
£
3,276,146
2,616,598
-
2,120,740
493,918
1,391,482
46,200
46,200
-
5,443,086
3,156,716
1,391,482		 Total
2024
£
2,616,598
1,885,400
46,200
4,548,198

5 Income from investments

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Other income 12,852 11,345
Interest receivable 50,399 9,464
63,251 20,809

HOMELESS OXFORDSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

6 Expenditure on raising funds

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Fundraising and publicity
Other fundraising costs 81,085 63,337
Staff costs 237,171 103,624
318,256 166,961
Charitable Charitable
activities activities
2025 2024
£ £
Direct costs
Staff costs 1,847,145 1,803,526
Food and household 163,445 187,559
Laundry and cleaning 169,245 146,878
Heat and light 178,426 208,322
Welfare activities 45,644 32,514
Agency costs 287,656 394,962
Donations in kind 22,480 5,200
Legal and professional 265 168,204
2,714,306 2,947,165
Share of support and governance costs (see note 8)
Support 1,993,405 2,043,255
Governance 12,300 24,042
4,720,011 5,014,462
Analysis by fund
Unrestricted funds - general 3,007,829 3,606,018
Restricted funds 1,712,182 1,408,444
4,720,011 5,014,462

HOMELESS OXFORDSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

8 Support costs allocated to activities

Depreciation
Property Management costs
Staff training
Travelling
Rent and rates
Repairs and Maintenance
Insurance
Telephone
Sundry and Administration
Legal and Professional
Recruitment
Bank and investment charges
Printing and stationery
Computer consumables and software
Oxford Homeless Medical Fund
Loss on disposal of tangible fixed assets
Support costs
Governance costs
Analysed between:
Charitable activities
9
Net movement in funds
The net movement in funds is stated after charging/(crediting):
Fees payable for the audit of the charity's financial statements
Depreciation of owned tangible fixed assets		 2025
£
80,741
433,856
21,342
29,466
802,550
221,404
60,434
65,423
32,190
66,372
51,312
6,627
39,424
77,924
4,340
-
1,993,405
12,300
2,005,705
2,005,705
2025
£
12,300
80,741		 2024
£
86,428
510,782
21,408
32,418
645,202
302,874
63,905
51,009
4,444
125,816
86,079
5,947
70,831
28,339
5,621
2,152
2,043,255
24,042
2,067,297
2,067,297
2024
£
24,042
86,428

10 Trustees

None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the year.

11 Employees

The average monthly number of employees during the year was:

2025 2024
Number Number
66 65

HOMELESS OXFORDSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

11
Employees
Employment costs
Wages and salaries
Social security costs
Other pension costs
The number of employees whose annual remuneration was more than £60,000
is as follows:
£60,000 to £70,000
£80,001 to £90,000
Remuneration of key management personnel
The remuneration of key management personnel was as follows:
Aggregate compensation		 (Continued)
2025
2024
£
£
1,861,243
1,699,055
177,224
162,597
45,849
45,498
2,084,316
1,907,150
2025
2024
Number
Number
1
-
1
1
2025
2024
£
£
398,059
353,298		 (Continued)
2025
2024
£
£
1,861,243
1,699,055
177,224
162,597
45,849
45,498
2,084,316
1,907,150
2025
2024
Number
Number
1
-
1
1
2025
2024
£
£
398,059
353,298
1,907,150
2024
Number
-
1
2024
£
353,298

The key management personnel of the Charity comprise of the Trustees, the Chief Executive Officer, the Head of Finance, the Head of Housing and Support Services, the Head of Fundraising and Communications, the Head of Property and Development and the HR Manager.

12 Net gains/(losses) on investments

**Unrestricted ** Unrestricted
funds funds
general general
2025 2024
£ £
Revaluation of investments 11,623 36,306

HOMELESS OXFORDSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

13
Tangible fixed assets
Land and
buildings
Fixtures and
fittings
£
£
Cost
At 1 April 2024
3,095,053
135,378
Additions
93,839
20,966
Disposals
(27,919)
(116,340)
At 31 March 2025
3,160,973
40,004
Depreciation and impairment
At 1 April 2024
1,383,896
125,310
Depreciation charged in the year
54,516
9,614
Eliminated in respect of disposals
(27,919)
(116,340)
At 31 March 2025
1,410,493
18,584
Carrying amount
At 31 March 2025
1,750,480
21,420
At 31 March 2024
1,711,157
10,068
The carrying value of land and buildings comprises:
Freehold
Long leasehold		 Computers
£
69,562
33,502
(40,626)
62,438
47,607
16,611
(40,626)
23,592
38,846
21,954		 Motor
vehicles
£
5,500
-
-
5,500
5,500
-
-
5,500
-
-
2025
£
1,263,327
487,153
1,750,480		 Total
£
3,305,493
148,307
(184,885)
3,268,915
1,562,313
80,741
(184,885)
1,458,169
1,810,746
1,743,179
2024
£
1,284,140
427,017
1,711,157

HOMELESS OXFORDSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

14 Fixed asset investments

Cost or valuation
At 1 April 2024
Additions
Valuation changes
Disposals
At 31 March 2025
Carrying amount
At 31 March 2025
At 31 March 2024
15
Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income
16
Creditors: amounts falling due within one year
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income
17
Creditors: amounts falling due after more than one year
Notes
Bank loans		 Listed
investments
£
571,902
127,333
11,623
(140,390)
570,468
570,468
571,902
2025
2024
£
£
45,609
361,629
8,318
34,799
459,653
219,016
513,580
615,444
2025
2024
£
£
39,161
37,443
161,040
169,751
15,652
14,734
103,497
229,312
319,350
451,240
2025
2024
£
£
900,000
900,000

HOMELESS OXFORDSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

18 Retirement benefit schemes

Retirement benefit schemes
2025 2024
Defined contribution schemes £ £
Charge to profit or loss in respect of defined contribution schemes 45,849 45,498

Defined benefit schemes

The Charity operates a defined benefit pension scheme and the pension charge is based on an actuarial valuation dated 11 June 2025.

The Local Government Pension Scheme "Oxfordshire County Council Pension Fund" is a funded scheme and the assets are held separately from those of the Charity in separate trustee administered funds. Pension scheme assets are measured at fair value and liabilities are measured on an actuarial basis using the projected unit credit method and discounted at a rate equivalent to the current rate of return on a high quality corporate bond of equivalent term and currency to the liabilities. The actuarial valuations are obtained at least triennially and are updated at each Balance Sheet date. The amounts charged to operating surplus are the current service costs and the costs of the scheme introductions, benefit changes, settlements and curtailments. They are included as part of staff costs as incurred. Net interest on the net defined benefit liability/asset is also recognised in the Statement of Financial Activities (incorporating an Income and Expenditure Account). and comprises the interest cost on the defined benefit obligation and the interest income on the scheme assets calculated by multiplying the fair value of the scheme assets at the beginning of the period by the rate used to discount the benefit obligations. The difference between the interest income on the scheme assets and the actual return on the scheme assets is recognised as a gain or loss in the statement of financial activities.

Key assumptions

Key assumptions
2025 2024
% %
Discount rate 5.80 4.85
Expected rate of increase of pensions in payment 2.75 2.75
Expected rate of salary increases 2.75 2.75

Mortality assumptions

The assumed life expectations on retirement at age 65 are:

2025
Years
Retiring today
- Males
21.0
- Females
24.7
Retiring in 20 years
- Males
23.0
- Females
25.6
Amounts recognised in the profit and loss account
2025
Costs/(income):
£
Net interest on defined benefit liability/(asset)
(12,000)		 2024
Years
21.1
24.8
23.1
25.6
2024
£
(4,000

HOMELESS OXFORDSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

18 Retirement benefit schemes (Continued)
Amounts recognised in other comprehensive income 2025 2024
Costs/(income): £ £
Actual return on scheme assets (52,000) (206,000)
Less: calculated interest element 96,000 86,000
Return on scheme assets excluding interest income 44,000 (120,000)
Actuarial changes related to obligations (245,000) (25,000)
Movement in asset ceiling 213,000 149,000
Total costs 12,000 4,000
The amounts included in the balance sheet arising from the Charity's
obligations in respect of defined benefit plans are as follows:
2025 2024
Liabilities/(assets): £ £
Present value of defined benefit obligations 1,549,000 1,753,000
Fair value of plan assets (1,549,000) (1,753,000)
Deficit in scheme - -
2025
Movements in the present value of defined benefit obligations £
Liabilities at 1 April 2024 1,753,000
Benefits paid (43,000)
Actuarial gains and losses (245,000)
Interest cost 84,000
At 31 March 2025 1,549,000
The defined benefit obligations arise from plans which are wholly or partly funded.
2025
Movements in the fair value of plan assets £
Fair value of assets at 1 April 2024 1,753,000
Interest income 96,000
Return on plan assets (excluding amounts included in net interest) (44,000)
Benefits paid (43,000)
Asset ceiling applied (213,000)
At 31 March 2025 1,549,000

The actual return on plan assets was £52,000 (2024: £206,000).

HOMELESS OXFORDSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

18 Retirement benefit schemes

Retirement benefit schemes
Fair value of plan assets
Equity instruments
Property
Bonds
Cash
Asset ceiling applied		 (Continued)
2025
2024
£
£
1,361,000
1,335,000
180,000
179,000
421,000
439,000
40,000
40,000
(453,000)
(240,000)
1,549,000
1,753,000

19 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

Medical Fund (Building)
Cherwell
Cherwell Emergency Beds
Client engagement
Community Gardens
Housing first
O'Hanlon House
Oxford House
Pre-recovery
Project 41
Sapling
Somewhere Safe to Stay
Step Down Project
Step Up Project
SWEP
Vineyard
Women's Project		 At 1 April
2024
Incoming
resources
Resources
expended
At 31 March
2025
£
£
£
£
156,696
-
(5,913)
150,783
-
105,900
(105,900)
-
-
30,000
(30,000)
-
-
9,162
(9,162)
-
-
2,129
(2,129)
-
-
49,536
(49,536)
-
-
42,482
(42,482)
-
-
62,379
(59,323)
3,056
-
41,967
(41,967)
-
-
203,165
(192,705)
10,460
-
129,569
(71,647)
57,922
-
107,887
(56,170)
51,717
-
537,601
(537,601)
-
-
285,532
(285,532)
-
-
18,046
(18,046)
-
-
76,356
(76,356)
-
-
137,713
(127,713)
10,000
156,696
1,839,424
(1,712,182)
283,938

HOMELESS OXFORDSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

19
Restricted funds
Previous year:
Medical Fund (Building)
Housing First
Sapling
Vineyard
Project 41
Pre-recovery
Women's Project
Swep
Cherwell
Cherwell Emergency Beds
Oxford House
Step Down Project
Step Up Project
Oxfordshire Co-operative Training Scheme		 (Continued)
At 1 April
2023
Incoming
resources
Resources
expended
At 31 March
2024
£
£
£
£
162,609
-
(5,913)
156,696
-
47,874
(47,874)
-
-
62,347
(62,347)
-
-
86,112
(86,112)
-
-
150,000
(150,000)
-
-
39,519
(39,519)
-
-
64,677
(64,677)
-
-
12,251
(12,251)
-
-
113,550
(113,550)
-
-
30,000
(30,000)
-
-
40,000
(40,000)
-
-
416,472
(416,472)
-
-
328,680
(328,680)
-
11,049
-
(11,049)
-
173,658
1,391,482
(1,408,444)
156,696

HOMELESS OXFORDSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

19 Restricted funds

(Continued)

Medical Fund (Building)

Funds were raised to purchase a medical centre next to O'Hanlon House to provide medical care for clients.

Cherwell

Providing accommodation and support for Cherwell based clients.

Cherwell Emergency Beds

Provision of two beds for emergency use.

Client Engagement

Funding used to support work of community client engagement officer.

Community Gardens

This was a donation to be used for the maintenance of gardens of properties used by Homeless Oxfordshire.

Housing First

Oxford City Council provided a grant in 2014 to fund support workers as part of the Housing First project. The project continued during the year ended 31 March 2019.

O'Hanlon House

Funding received from various sources to provide clients with access to personalisation funds.

Oxford House

This grant provides intensive, flexible, and personalised support to help clients with low to medium general needs to maintain accommodation and improve their health and wellbeing.

Pre-recovery

This grant provided 7 beds for clients working towards recovery from drug or alcohol abuse in conjunction with Turning Point.

Project 41

This is an Oxford City council funded project to provide 41 accommodation units for clients with low-medium and medium-high support needs.

Sapling

The sapling grant provides 5 beds for clients who are in recovery from drug and/or alcohol dependency and have completed a period of residential detox treatment or rehabilitation. This project is funded through Public Health.

Somewhere safe to stay

Capital and day to day funding provided by Oxford City Council to improve facilities and support clients receiving temporary accommodation under the Somewhere Safe to Satay program at O'Hanlon House.

Step Down Project

Temporary accommodation and support for homeless people on discharge from hospital.

HOMELESS OXFORDSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

19 Restricted funds

(Continued)

Step Up Project

Temporary accommodation and support for people for whom home is not currently a safe environment, but with a view to returning as soon as possible.

Severe Weather Emergency Protocol (SWEP)

This grant provided accommodation and staffing for the Winter Shelter initiatives to support rough sleepers in Winter.

Vineyard

A 14 bed hostel in South Oxfordshire. Provides one bedroom flats, part of the adult homeless pathway, supporting clients on their journey to independent living.

Women's Project

A 5 bed s hared house providing peer-support group work, a programme of activities and a safe and secure environment supporting women to recover from their experiences of trauma and homelessness.

Oxfordshire Co-operative Training Scheme

The purpose of this restricted fund is to fund the provision of training to front line staff within the homeless voluntary, residential sector.

20 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

Fixed asset
fund
Luther Street
Medical Fund
General funds
Previous year:
Fixed asset
fund
Luther Street
Medical Fund
General funds		 At 1 April
2024
Incoming
resources
Resources
expended
£
£
£
686,482
125,807
(70,320)
39,439
1,200
(13,490)
1,505,178
4,306,720
(3,275,955)
2,231,099
4,433,727
(3,359,765)
At 1 April
2023
Incoming
resources
Resources
expended
£
£
£
757,902
11,248
(82,668)
46,300
1,200
(8,061)
1,511,126
3,671,712
(3,713,966)
2,315,328
3,684,160
(3,804,695)		 Transfers
Gains and
losses
At 31 March
2025
£
£
£
750,000
-
1,491,969
-
-
27,149
(750,000)
11,623
1,797,566
-
11,623
3,316,684
Transfers
Gains and
losses
At 31 March
2024
£
£
£
-
-
686,482
-
-
39,439
-
36,306
1,505,178
-
36,306
2,231,099

HOMELESS OXFORDSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

21 Analysis of net assets between funds

Unrestricted
Unrestricted
Restricted
funds
funds
funds
general
designated
2025
2025
2025
£
£
£
At 31 March 2025:
Tangible assets
1
1,659,962
150,783
Investments
570,468
-
-
Current assets/(liabilities)
1,986,253
-
133,155
Long term liabilities
-
(900,000)
-
2,556,722
759,962
283,938
Unrestricted
Unrestricted
Restricted
funds
funds
funds
general
designated
2024
2024
2024
£
£
£
At 31 March 2024:
Tangible assets
-
1,586,483
156,696
Investments
571,902
-
-
Current assets/(liabilities)
933,276
39,438
-
Long term liabilities
-
(900,000)
-
1,505,178
725,921
156,696		 Total
2025
£
1,810,746
570,468
2,119,408
(900,000)
3,600,622
Total
2024
£
1,743,179
571,902
972,714
(900,000)
2,387,795

22 Operating lease commitments

Lessee

At the reporting end date the Charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Within one year
Between two and five years
In over five years		 2025
£
712,284
740,643
-
1,452,927		 2024
£
679,770
1,109,150
20,923
1,809,843

23 Related party transactions

HOMELESS OXFORDSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

23 Related party transactions

(Continued)

Transactions with related parties

During the year the Charity entered into the following transactions with related parties:

2025 2024
£ £
Donation from one trustee 425 -

24 Controlling party

The Charity is under the joint control of the Trustees who oversee all administration and operations that the Charity undertakes.

25
Cash generated from operations
Surplus/(deficit) for the year
Adjustments for:
Investment income recognised in statement of financial activities
Fair value gains and losses on investments
Depreciation and impairment of tangible fixed assets
Movements in working capital:
Decrease in debtors
(Decrease)/increase in creditors
(Decrease)/increase in provisions
Cash generated from operations
26
Analysis of changes in net funds/(debt)
At 1 April 2024
£
Cash at bank and in hand
808,510
Loans falling due after more than one year
(900,000)
(91,490)		 2025
£
1,212,827
(63,251)
(11,623)
80,740
101,864
(131,890)
-
1,188,667
Cash flowsAt 31
£
1,116,668
-
1,116,668		 2024
£
(101,191)
(20,809)
(36,306)
86,428
275,350
252,305
(38,610)
417,167
March 2025
£
1,925,178
(900,000)
1,025,178