**Charity registration number 702230 (England and Wales)** **Company registration number 02422130** ## **ACTION HOMELESS (LEICESTER) LTD** ## **ANNUAL REPORT AND FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 31 MARCH 2025** ## **ACTION HOMELESS (LEICESTER) LTD** ## **LEGAL AND ADMINISTRATIVE INFORMATION** |**Trustees**|C Hurst (Treasurer)|| |---|---|---| ||A Peasgood|| ||J Elsey|| ||P Parmar|| ||S Billington (Chair)|| ||M Aspey|(Appointed 28 November 2024)| ||T Gallimore|(Appointed 28 November 2024)| ||N Wilkinson|(Appointed 28 November 2024)| |**Secretary**|R Mawdsley|| |**Charity number (England and Wales)**|702230|| |**Company number**|02422130|| |**Principal address**|Ridgeway House|| ||Little Hill|| ||Newton Lane|| ||Wigston|| ||LE18 3SE|| |**Registered office**|Ridgeway House|| ||Little Hill|| ||Newton Lane|| ||Wigston|| ||LE18 3SE|| |**Auditor**|Thomas Mayfield BA FCA|| ||Mayfield & Co (Accountants) Ltd|| ||2 Merus Court|| ||Meridian Business Park|| ||Leicester|| ||LE19 1RJ|| |**Bankers**|HSBC|| |**Solicitors**|Howes Percival LLP|| ||3 The Osiers Business Centre|| ||Leicester|| ||LE19 1DX|| ������������������������������������� ## **ACTION HOMELESS (LEICESTER) LTD** ## **CONTENTS** ||**Page**| |---|---| |Trustees report|1 - 8| |Statement of trustees responsibilities|9| |Independent auditor's report|10 - 12| |Statement of financial activities|13 - 14| |Balance sheet|15| |Statement of cash flows|16| |Notes to the financial statements|17 - 33| ## **ACTION HOMELESS (LEICESTER) LTD** ## **TRUSTEES REPORT (INCLUDING DIRECTORS' 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 accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts 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)” (as amended for accounting periods commencing from 1 January 2016) ## **Objectives and activities** Action Homeless has referred to the Charity Commission’s guidance on public benefit when reviewing its aims and objectives and in planning its future activities. In particular, the Board of Trustees has considered how the charity’s activities have and will continue to deliver the aims and objectives they have set. The vision, values and objectives of Action Homeless as agreed by the Board of Trustees are as follows. ## **Vision** Action Homeless’ Vision is to ensure that no one has to sleep on the streets of Leicestershire. ## **Objectives** Action Homeless is two year into its five year Strategic Plan which sets the following objectives: We will develop services to break the cycle of chronic homelessness by working together with our statutory and voluntary partners to inform, influence and advocate to help others to understand the realities of homelessness. It will do this by; - Providing accessible and inclusive accommodation that offers dignity, privacy and safety. - Providing immediate, flexible and practical support which relieves feelings of fear and vulnerability and meets the individual’s needs. - Giving high quality and personalised support through responsive services which resolve barriers and help people to navigate pathways and manage transitions. - Calling for further research to fill gaps in evidence on the causes of homelessness whilst challenging systems, highlighting barriers and advocating for solutions. - Championing lived experience and elevating the voices of people affected by homelessness and related themes. - Calling out prejudice, challenging stigma, misconceptions and stereotyping - Engaging widely, seeking out partnerships which will deliver a better system for eradicating homelessness. ## **Values** Everyone has the right to live as independently as possible and we will do everything we can to ensure people affected by homelessness achieve and maintain this. Those affected by homelessness have the potential to transform their lives and we will support them to achieve their aspirations. Everyone affected by homelessness has the right to expect good standards of accommodation and we will work to ensure that our housing is of good quality. Everyone using our services has the right to have their say in how these services are run and we will work to ensure that they have a voice in the running and development of the charity’s activities. Our colleagues are the key to our success and we will work to create a culture that values and supports the people that work with and for us. - 1 - ������������������������������������� ## **ACTION HOMELESS (LEICESTER) LTD** ## **TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **Action Homeless’s Operating Environment.** The ongoing impact of homelessness remains deeply felt across the communities served by Action Homeless. It affects individuals and families in profound and multifaceted ways—compromising physical and mental health, limiting access to education and employment, and disrupting stability for both adults and children. These challenges often lead to long-term consequences, creating and reinforcing the cycled of homelessness for many. Recent data underscores the scale of the crisis. Nationally, 131,140 households were living in temporary accommodation as of March 2025, a record high and an increase of 11.8% from the previous year. Of these, 83,150 were households with children, and 47,990 were single households. Additionally, 327,950 households were assessed as needing support to prevent or relieve homelessness in 2024, up 5% from 2022. Locally, Leicester has seen a 11% rise in people seeking homelessness support, with 5,385 individuals contacting services in 2023/24, up from 4,869 the previous year (2. MHCLG March 2025). The number of people rough sleeping also increased, with 464 unique individuals recorded. Action Homeless is also navigating the pressures caused by inflation and rising interest rates, which have significantly increased the costs of delivering services and maintaining properties. Despite these financial challenges, the charity remains committed to its values—continuing as a Living Wage Foundation employer and implementing pay increases to help staff manage the rising cost of living. In response to growing financial pressures on tenants, Action Homeless has expanded its support services and actively sought funding to help individuals manage household budgets and avoid crisis. These efforts are detailed further in our achievements section. Through sound fiscal management, Action Homeless has maintained a strong financial performance, generating a cash surplus that can be reinvested into developing services. This ensures the organisation remains financially resilient and sustainable, with the right people and resources in place to support its vital work. 1. (The local authority has declared a housing emergency, given the shortage of housing and as the cost of housing continues to outstrip people's ability to afford to rent or buy a home in the city). _2. reference to MHCLG stats. https://www.gov.uk/government/statistics/statutory-homelessness-in-england-january-tomarch-2025/statutory-homelessness-in-england-january-to-march-2025_ ## **Achievements and performance** Expanding Our Housing Portfolio and Support Services: Action Homeless continues to grow its housing provision to meet increasing demand. As of this year, the charity owns 18 properties, comprising 122 individual units. A significant milestone was the addition of seven Riverside properties to our owned portfolio, enhancing our capacity to provide stable, long-term accommodation. In addition to owned assets, Action Homeless manages 46 properties, offering a total of 229 units across various schemes. These properties play a vital role in delivering tailored support to individuals and families experiencing homelessness. This year, we provided direct support to 23 families, including 9 housed through our A+ programme and 14 accommodated at Bridge House for women who have experienced domestic violence, reflecting our commitment to family-focused interventions and transitional housing solutions. The continued expansion of Action Homeless’ owned accommodation has significantly enhanced the organisation’s ability to meet its strategic objective: providing safe, secure, and decent homes for people who have experienced homelessness. The addition of new properties not only increases our capacity to respond to urgent housing needs but also strengthens our balance sheet, contributing to long-term financial sustainability. - 2 - ������������������������������������� ## **ACTION HOMELESS (LEICESTER) LTD** ## **TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2025**_ However, with growth comes responsibility. Maintaining and investing in these properties to ensure they remain fit for purpose in the future will require Action Homeless to allocate sufficient resources. This includes ongoing repairs, upgrades, and adaptations to meet the evolving needs of our tenants and service users. During the year we were able to secure additional funding for some of our existing support services. Rough Sleeper Initiative funding was secured for our Stretton Road and Flora Lodge schemes extending them by a further 12 months. Our Housing First project also received an additional year of funding from The Henry Smith Charity. Our Moneywise Plus scheme, in partnership with Reaching People, was extended by 18 months allowing us to continue supporting people to develop financial and digital skills to better manage the cost of living. Thanks to a National Lottery grant we were able to continue delivering support through play to 17 children affected by homelessness at our family project. We also secured funding for some brand new work including a 2 year ‘One Call That’s All’ pilot from Utilita Giving. The project funds a post to deliver personalised and 121 support which helps people to break the cycle of homelessness and poverty. Being part of the OCTA network also provides opportunities for Action Homeless to work collaboratively with four other charities to alleviate food and fuel poverty in the city. Action Homeless secured status as a delivery partner on an innovative new trial led by The Centre for Homelessness Impact to test the effectiveness of personalised budgets in breaking the cycle of homelessness. Our clients received a total of £39k in individual grants via the randomised control trial, enabling them to progress out of homelessness. During the year, we have significantly expanded our offer from our Community Lounge. We have integrated our resettlement support meaning clients are able to access a range of workshops and 121 support to help them prepare for moving to their own homes. The Community Lounge also hosted our ‘EmpowerMENt’ programme, which is tailored to meet the needs of men affected by homelessness and brings them together to tackle isolation and improve mental wellbeing, as well as a monthly Women’s Wellbeing group which offers women an opportunity to connect and strengthen peer networks. We also provided a range of essentials to individuals in need including food, hygiene products, clothing and warm packs to support people during the winter months. Our women’s strategy has progressed and during the year we launched the Leicester Women’s Network ‘Supporting Women Together’ which brings together a range of organisations supporting women who face multiple disadvantage. Through this network we launched a Safer Sex Working initiative that helps to reduce harm for women who sell sex across the city. We continued to actively contribute to the development of Leicester’s Homelessness Charter and have worked together with other members to develop shared communications and campaigns which inform, educate and raise awareness of homelessness in Leicester. This has included arranging MP visits and engaging with business leaders. Overall, Action Homeless housed 427 individuals and we were able to move 200 people into more stable and permanent homes. We assisted 562 individuals via our duty desk response line, 68% of whom were at immediate risk of homelessness. We supported 72 people who were homeless with refugee status by providing temporary accommodation and help to find a secure home in the community. 77 (18%) of our clients were women. Our clients continue to be highly satisfied with the housing we provide with 97% of residents feeling safer since living with Action Homeless. 88% of the people we support said they felt better able to make decisions about their own goals further reinforcing Action Homeless’ objective of empowering people to take control of their own lives. 94% of our clients would recommend us to someone else who was experiencing homelessness and 88% say that with our support they are making progress towards breaking the cycle of homelessness. We have also created more opportunities than ever before for people with lived experience of homelessness to connect with us and our stakeholders to share their expertise and experience, with focused ‘connections weeks’ now taking place on a quarterly basis. We also held a Connections Festival in partnership with De Montfort University which brought together our clients, staff and trustees to share insight, expertise and feedback. - 3 - ������������������������������������� ## **ACTION HOMELESS (LEICESTER) LTD** ## **TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2025**_ We would like to give special thanks to all of our donors, partners, volunteers and funders whose contributions have enabled us to make a significant difference to lives of our beneficiaries and to continue in our mission to break the cycle of chronic homelessness in Leicester and Leicestershire. ## **Financial review** The results for the year show total income of £5,030,329 an increase of £487,518 on the 2024 income of £4,542,811. This amount included Restricted Funds of £1,217,972 and £3,812,357 of Unrestricted Funds. The total resources expended in the year amounted to £4,037,554. This leaves us to report an overall surplus of £992,775. The surplus income was generated by rental receipts from newly acquired freehold properties, the opening of a property with eleven client rooms and the reopening of a refurbished seven-bedroom house. This, along with better-than-forecast performance in voids and bad debts, and strong fiscal controls, accounts for the increase in income. Our growing freehold housing stock continues to reinforce the charity’s financial stability, with funds being actively reinvested to support strategic objectives, including the creation of new and improved homes. The reserves carried forward were £5,360,307 of which £500,291 were restricted funds. These reserves will be used over a number of years and matched, in some cases, against depreciated amounts. Good corporate governance dictates that the charity maintains sufficient unrestricted reserves to meet unexpected events, irregular cash flow and contingencies. Our Unrestricted Funds of £547,221 are considered sufficient to achieve this aim. We also have £4,312,795 in designated reserves which is ring fenced for future development plans and to ensure there is sufficient funds to improve and maintain our properties. During June 2024 seven properties were purchased from the Riverside Group utilising some of our reserves. We also undertook the planned refurbishment of 10 St James Terrace, (Mayfield House) with an anticipated cost of up to £900,000 supported by Capital Grant through the Single Homeless Accommodation Programme, administered by Leicester City Council. ## **Reserves Policy** During the year the trustees transferred £1,225,898 to the designated funds (see below). This leaves free unrestricted reserves to carry forward of £547,221. The Charity owns 19 properties which are used as social housing and are deemed necessary in order to help in the fulfilment of the Charity's Objectives. These properties have a carrying value of over £3.5million and these properties are essential in the delivery of affordable social housing. ## **Designated Reserves** Our Designated Funds now stand at £4,312,795 following a transfer of £1,225,898 from Unrestricted Funds during the year to cover specific future events which is part of the charity’s strategic planning. Our freehold housing properties are in the City of Leicester and were, in the main built during late 1800s early 1900s. The properties have and continue to be maintained and refurbished in accordance with legislation and modern-day standards. Future anticipated legislation to address climate change will require investment in these properties and our Property Investment Fund will be reviewed periodically to ensure that our reserves are sufficient to meet anticipated costs. The Charity has planned in improvements next year for our Mayfield House Project and refurbishment of the Titchbourne House Project. Action Homeless hold leases of freehold properties from private individuals. The term of these leases varies up to a period of twenty-five years. The terms of the leases allow for Action Homeless to hand back the properties, at the end of the term to the owner in a “decent homes” standard. Our Dilapidation Fund makes provision for the work that is needed to be undertaken at the end of the Term. The fund is reviewed annually and in this financial year we have increased the Fund by £91,750. - 4 - ������������������������������������� ## **ACTION HOMELESS (LEICESTER) LTD** ## **TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2025**_ Year on year, the demand for homelessness services is growing. Our Charity’s mission is to bring an end to homelessness in Leicestershire. Being able to meet as much need as possible is vital if we are to fulfil our charitable objectives. To break the cycle of homelessness we must develop the services we provide, increase the properties we use and enter into strategic partnerships with the local authority and other agencies. Our Property Investment Fund makes provision for these increasing needs. During the past year we are still encountering inflation that has not been seen for many years and during the next few years that Charity plans to acquire more properties, to allow for these events we have added £1,080,000 to our Investment Fund to support this and the reinvestment in our existing properties. ## **Principal Funding Sources** Action Homeless’s main sources of income continue to be rent and service charges for the accommodation it provides to individuals (see page 19/20). The second largest source of funding has been the Leicester City Council (LCC) Homeless Support Contract, which ended in 2024. However, LCC continues to commission High Support services directly and administers grants from central government initiatives, including the Rough Sleeping Initiative. During 2024/2025, funding was received through the Rough Sleeping Prevention and Recovery Grant and the Single Homelessness Accommodation Programme, totalling £797,225. The Charity also continues to benefit from the generous support of companies and individuals, with donations amounting to £25,919 (see Note 3, page 19). ## **Investment Policy** The Trustees, having regard to the liquidity requirements of operating the Charity and its reserves policy, have operated a policy of keeping a large proportion of available funds in interest bearing deposit accounts where they seek to achieve a rate of interest which maximises the return and spreads the risk. Where monies are available that are not needed to fund immediate charitable activities, the Trustees will appoint investment managers on a discretionary basis. A regular review of its investments is maintained by the Trustees with its Advisors and Finance Committee, ensuring good corporate governance relating to market conditions. The Trustees acknowledges and exercise their duty of care in accordance with the law, Charity Commission guidelines and in the best interests of the Charity. ## **Risk Management** The Trustees continue to evaluate the major risks to which the Charity is exposed and are satisfied that systems are in place to mitigate these risks effectively. Recognising the importance of risk management as a key element of governance and internal control, the Trustees have compiled a risk register to assess strategic, operational, and financial risks. Risk management processes provide a high level of reassurance and apply to all aspects of Action Homeless’ work. Risk assessments and management are integral to the daily responsibilities of frontline staff and managers. ## **Future Plans** As previously mentioned, the demand for Action Homeless services is unprecedented, with the homelessness crisis becoming increasingly acute. The charity is now entering the third year of its five-year strategic plan, which outlines how Action Homeless can realistically support those affected by endeavouring to break the cycle of homeless for this who experience the most disadvantages. However, given the rising demand for support, the Trustees recognise the need to adapt and evolve to continue meeting the needs of those seeking help. We will endeavour to offer more safe places to clients in the future, although this is set against a backdrop of ongoing concerns about the sustainability of funding for our support services. Currently, the charity provides specialist support for rough sleepers through funding from the Government’s Rough Sleepers Initiative (secured until March 2025). We will respond to the new Government priorities once the next strategy is announced to seek funding to maintain these services. - 5 - ������������������������������������� ## **ACTION HOMELESS (LEICESTER) LTD** ## **TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2025**_ This year, we have purchased seven properties to expand our capacity to offer accommodation and support to more people in need, in response to ever-growing demand. The challenge now is to prioritise the work and funding required to upgrade these properties to meet the Decent Homes Standard. We recognise that simply providing a safe place to live is not enough to break the cycle of homelessness—comprehensive wraparound support is essential to help clients maintain their tenancies. In the coming year, we plan to commence the second phase of development at our largest project, Mayfield House, ensuring it can continue to offer high-quality housing for those in emergency need. We are also undertaking a refurbishment of our Titchbourne House project, with support from the Armed Forces Property Fund, to provide bespoke accommodation for veterans who have experienced homelessness. We will continue to seek opportunities to expand our housing stock and remain committed to working with property owners to lease accommodation on a long-term basis. We have already secured 24 units of accommodation that will become available in 2025. We also acknowledge that providing a safe place is only the first step in breaking the cycle of homelessness. Supporting individuals to move into and sustain their own accommodation is key. To this end, we are committed to expanding our resettlement support and are working with other city partners to create the Homes Essentials Hub. This initiative will ensure that those moving into their own homes have everything they need to set up and manage their accommodation successfully. Over the past few years, we have invested in Housing First as a robust strategy that forms the foundation for breaking the cycle of homelessness for those facing the greatest disadvantage. The funding we currently receive from the Henry Smith Charity will end this year (December 2025), and we will continue to make the argument for consumed funding to sustain this vital work. Action Homeless recognises that breaking the cycle of homelessness involves more than just providing housing. People also need positive relationships and community connections to truly overcome homelessness. We will continue to seek ways to empower and support individuals to build the relationships they need to thrive. Our Engage Community Hub remains central to this work and activity, and we are committed to expanding and developing it further. Our vision remains clear: to continue to work to end rough sleeping in Leicestershire by breaking the cycle of homelessness and ensuring that individuals with chronic histories of homelessness can find and sustain homes. Action Homeless will continue collaborating with the City Council, the Government, and other stakeholders to provide highquality, personalised support that helps individuals overcome the barriers to ending rough sleeping. The Charity provides specialist support for rough sleepers through funding from the Government’s Rough Sleepers Initiative (until March 25), with further backing from the Housing First project funded by the Henry Smith Charity, this funding is secure until end of 2025. In 2024, the Charity will also respond to the recommissioning of services by Leicester City Council, adapting accordingly to changes in contracts. In addition to the capital funding for Mayfield House, SHAP funding has also been awarded to support the provision of a new 14-bed project for rough sleepers over the next three years and it is hoped to open this service in early 2025. The Charity recognises that breaking the cycle of homelessness involves more than just providing a safe place to live. People also need positive relationships within the community to truly overcome homelessness. Action Homeless will continue to seek ways to empower and support people to build the connections that they need. ## **Structure, governance and management** The charitable company is a company limited by guarantee, incorporated on 12 September 1989 and registered as a charity on 17 November 1989. - 6 - ������������������������������������� ## **ACTION HOMELESS (LEICESTER) LTD** ## **TRUSTEES REPORT (INCLUDING DIRECTORS' 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: C Hurst (Treasurer) D Ireland (Resigned 28 November 2024) M Pankhurst (Resigned 30 January 2025) A Peasgood J Elsey A Patel (Resigned 23 September 2025) P Parmar S Billington (Chair) C Longland (Resigned 20 May 2025) H Rutherford (Resigned 17 May 2024) M Aspey (Appointed 28 November 2024) T Gallimore (Appointed 28 November 2024) N Wilkinson (Appointed 28 November 2024) ## **Recruitment and Appointment of Trustees** The Charity recognises the importance of having Trustees with a diverse set of skills and backgrounds that can support the work of the charity and reflects the profile of our beneficiaries. All Trustees are recruited through an open process that ensures equal access and opportunity to those wishing to become a Trustee. In line with the organisations Articles of Association Trustees serve 3-year terms up to a maximum of 9 years. The past year saw the resignation of two trustees and the ending of the Chairs period of tenure. The Charity will be seeking to replace these Trustees in the coming year. The Trustees are also committed to adopting the Charity Code of Governance. None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up. ## **Organisational Structure** The day to day management of the organisation is led by the Chief Executive Mark Grant and the two others, Executive Director of Services Karen Purewal and Director of Finance Reg Mawdsley. In addition, there are dedicated roles for HR, Funding and Property Management. In total Action Homeless employs 55 full time employees as well as occasional workers. ## **Auditor** In accordance with the company's articles, a resolution proposing that Thomas Mayfield BA FCA be reappointed as auditor of the company will be put at a General Meeting. ## **Fundraising** The fundraising activities of Action Homeless (Leicester) Ltd are overseen by the Funding and Communications Manager, who is responsible for organising fundraising events and coordinating the activities of supporters. The Charity does not use professional fundraisers, nor does it work with commercial participators. Action Homeless (Leicester) Ltd is a member of an independent fundraising regulator and is committed to maintaining high standards of fundraising practice. The Charity does not undertake direct marketing for fundraising purposes, to protect the public from unreasonable intrusion, persistent approaches, or undue pressure. No third-party fundraisers are used by the Charity. There were no complaints received in relation to fundraising activities during the year. - 7 - ������������������������������������� ## **ACTION HOMELESS (LEICESTER) LTD** ## **TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_ The trustees report was approved by the Board of Trustees. S Billington (Chair) **Trustee** 8 December 2025 - 8 - ## **ACTION HOMELESS (LEICESTER) LTD** ## **STATEMENT OF TRUSTEES RESPONSIBILITIES** ## _**FOR THE YEAR ENDED 31 MARCH 2025**_ The trustees, who are also the directors of Action Homeless (Leicester) Ltd 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 charitable company 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: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgements and estimates that are reasonable and prudent; - state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. - 9 - ������������������������������������� ## **ACTION HOMELESS (LEICESTER) LTD** ## **INDEPENDENT AUDITOR'S REPORT** ## **TO THE TRUSTEES OF ACTION HOMELESS (LEICESTER) LTD** ## **Opinion** We have audited the financial statements of Action Homeless (Leicester) Ltd (the ‘charitable company’) 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 and Republic of Ireland_ (United Kingdom Generally Accepted Accounting Practice). - In our opinion, the financial statements: - give a true and fair view of the state of the charitable company's affairs as at 31 March 2025 and of its incoming resources and application of resources, for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Charities Act 2011. ## **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 the charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. ## **Other information** The 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 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. - 10 - ������������������������������������� ## **ACTION HOMELESS (LEICESTER) LTD** ## **INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF ACTION HOMELESS (LEICESTER) LTD** ## **Matters on which we are required to report by exception** We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion: - the information given in the financial statements is inconsistent in any material respect with the trustees report; or - sufficient accounting records have not been kept; or - the financial statements are not in agreement with the accounting records; or - we have not received all the information and explanations we require for our audit. ## **Responsibilities of trustees** As explained more fully in the statement of trustees responsibilities, the trustees, who are also the directors of the charitable company 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 charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. ## **Auditor's responsibilities for the audit of the financial statements** We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance 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. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below. ## **Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud** 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. - 11 - ������������������������������������� ## **ACTION HOMELESS (LEICESTER) LTD** ## **INDEPENDENT AUDITOR'S REPORT (CONTINUED)** ## **TO THE TRUSTEES OF ACTION HOMELESS (LEICESTER) LTD** As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the charitable company’s internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. Conclude on the appropriateness of the trustees’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charitable company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the charitable company to cease to continue as a going concern. Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation (ie. gives a true and fair view). We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. 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. ## **Use of our report** This report is made solely to the charitable company’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company’s trustees 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 trustees as a body, for our audit work, for this report, or for the opinions we have formed. **Thomas Mayfield BA FCA (Senior Statutory Auditor)** 8 December 2025 **Mayfield & Co** Mayfield & Co **Chartered Accountants** 2 Merus Court Meridian Business Park Leicester LE19 1RJ Thomas Mayfield BA FCA is eligible for appointment as auditor of the charitable company by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006. - 12 - ## |**Total**||||**2024**|**£**||285,659|4,181,915|15,016|60,221|4,542,811|||37,012|3,947,087|3,984,099||558,712|-|558,712||3,808,820| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |**Restricted**|**funds**|||**2024**|**£**||255,500|546,383|-|-|801,883|||-|834,716|834,716||(32,833)|-|(32,833)||264,377| |**Unrestricted**|**funds**|**Designated**|**Funds**|**2024**|**£**||-|-|-|-|-|||-|-|-||-|675,644|675,644||2,411,253| |**Unrestricted**|**funds**|**general**||**2024**|**£**||30,159|3,635,532|15,016|60,221|3,740,928|||37,012|3,112,371|3,149,383||591,545|(675,644)|(84,099)||1,133,190| |**Total**||||**2025**|**£**||823,144|4,143,900|22,182|41,103|5,030,329|||39,367|3,998,187|4,037,554||992,775|-|992,775||4,367,532| |**Restricted**|**funds**|||**2025**|**£**||797,225|420,747|-|-|1,217,972|||-|949,225|949,225||268,747|-|268,747||231,544| |**Unrestricted**|**funds**|**Designated**|**Funds**|**2025**|**£**||-|-|-|-|-|||-|-|-||-|1,225,898|1,225,898||3,086,897| |**Unrestricted**|**funds**|**general**||**2025**|**£**||25,919|3,723,153|22,182|41,103|3,812,357|||39,367|3,048,962|3,088,329||724,028|(1,225,898)|(501,870)||1,049,091| ||||||**Notes**||**3**|**4**|**5**|**6**||||**7**|**8**|||||**10**||| |||||||**Income from:**|Donations and legacies|Charitable activities|Other trading activities|Investments|**Total income**||**Expenditure on:**|Raising funds|Charitable activities|**Total expenditure**||**Net income**|Transfers between funds|**Net movement in funds**|**Reconciliation of funds:**|Fund balances at 1 April 2024| ## ## **ACTION HOMELESS (LEICESTER) LTD** ## **BALANCE SHEET** ## _**AS AT 31 MARCH 2025**_ ||||**2025**|||**2024**|| |---|---|---|---|---|---|---|---| ||**Notes**|**£**||**£**|**£**||**£**| |**Fixed assets**|||||||| |Tangible assets|**14**|||3,940,329|||2,576,645| |**Current assets**|||||||| |Debtors|**15**|665,984|||534,008||| |Cash at bank and in hand||2,006,450|||2,609,790||| |||2,672,434|||3,143,798||| |**Creditors: amounts falling due within one year**|**17**|(528,716)|||(605,092)||| |**Net current assets**||||2,143,718|||2,538,706| |**Total assets less current liabilities**||||6,084,047|||5,115,351| |**Creditors: amounts falling due after more than**|||||||| |**one year**|**18**|||(723,740)|||(747,819)| |**Net assets**||||5,360,307|||4,367,532| |**The funds of the charitable company**|||||||| |Restricted income funds|**21**|||500,291|||231,544| |Unrestricted funds - general|**23**|||547,221|||1,049,091| |Unrestricted funds - Designated Funds|**22**|||4,312,795|||3,086,897| |||||5,360,307|||4,367,532| The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2025, although an audit has been carried out under section 144 of the Charities Act 2011. No member of the company has deposited a notice, pursuant to section 476, requiring an audit of these financial statements under the requirements of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the trustees on 8 December 2025 C Hurst (Treasurer) ## **Trustee** Company registration number 02422130 (England and Wales) - 15 - ## **ACTION HOMELESS (LEICESTER) LTD** ## **STATEMENT OF CASH FLOWS** ## _**FOR THE YEAR ENDED 31 MARCH 2025**_ |**2025**
**Notes**
**£**
**£**
**Cash flows from operating activities**
Cash generated from operations
**27**
900,152
**Investing activities**
Purchase of tangible fixed assets
(1,522,964)
Investment income received
41,103
**Net cash (used in)/generated from investing activities**
(1,481,861)
**Financing activities**
Repayment of bank loans
(21,631)
**Net cash used in financing activities**
(21,631)
**Net (decrease)/increase in cash and cash equivalents**
(603,340)
Cash and cash equivalents at beginning of year
2,609,790
**Cash and cash equivalents at end of year**
2,006,450|**2024**
**£**
-
60,221
(20,289)|**£**
513,027
60,221
(20,289)
552,959
2,056,831
2,609,790| |---|---|---| - 16 - ������������������������������������� ## **ACTION HOMELESS (LEICESTER) LTD** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **1 Accounting policies** ## **Charity information** Action Homeless (Leicester) Ltd is a private company limited by guarantee incorporated in England and Wales. The registered office is Ridgeway House, Little Hill, Newton Lane, Wigston, LE18 3SE. ## **1.1 Basis of preparation** The accounts have been prepared in accordance with the charitable company'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)” (as amended for accounting periods commencing from 1 January 2016). The charitable company is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling, which is the functional currency of the charitable company. Monetary amounts in these financial statements are rounded to the nearest £. Action Homeless (Leicester) Ltd meets the definition of a public benefit entity under FRS 102. The accounts 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. ## **1.2 Going concern** At the time of approving the financial statements, the trustees have a reasonable expectation that the charitable company 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. Restricted funds are to be used for specific purpose as laid down by the donor. Grants received by the charity by way of management agreements with Local Authorities and Housing Associations are restricted to particular schemes but not to specific items of expenditure. The Charity treats expenditure from these restricted funds as being the earliest expenditure at each scheme, in the year. Unrestricted funds are donations and other incoming resources, including charges for accommodation, receivable or generated for the objects of the charity without further specified purpose and are available as general funds. ## **1.4 Income** Income is recognised when the charitable company is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charitable company has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the charitable company has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes. - 17 - ������������������������������������� ## **ACTION HOMELESS (LEICESTER) LTD** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **1 Accounting policies** **(Continued)** ## **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. Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes VAT which cannot be recovered. Expenditure in the operation of the charity’s central services system and central office is apportioned between support costs, fund-raising and publicity and governance of the charity based on actual costs incurred where these can be ascertained. Other costs, such as salaries and overhead costs are apportioned on the following basis which is an estimate, based on staff time, of the amount attributable to each activity: |Scheme support costs|85%| |---|---| |Fund-raising and publicity|1%| |Management and administration of the charity|14%| ## **1.6 Tangible fixed assets** Properties whose fair value can be measured reliably are held under the revaluation model and are carried at a revalued amount, being their fair value at the date of valuation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The fair value of the land and buildings is usually considered to be their market value. Revaluation gains and losses are recognised in other recognised gains and losses and accumulated in equity, except to the extent that a revaluation gain reverses a revaluation loss previously recognised in net income/(expenditure) or a revaluation loss exceeds the accumulated revaluation gains recognised in equity; such gains and loss are recognised in net income/(expenditure) for the year. 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: |Freehold Property|4% straight line| |---|---| |Scheme Fixtures & Fittings|50% straight line| |Motor vehicles|25% straight line| |Central Office Equipment|25% straight line| |Property Improvements|Over 10 years from date of use| 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 recognized in net income/(expenditure) for the year. ## **1.7 Impairment of fixed assets** At each reporting end date, the charitable company 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). - 18 - ������������������������������������� ## **ACTION HOMELESS (LEICESTER) LTD** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **1 Accounting policies** **(Continued)** ## **1.8 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. ## **1.9 Financial instruments** The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. ## **1.10 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 charitable company is demonstrably committed to terminate the employment of an employee or to provide termination benefits. ## **1.11 Retirement benefits** The pension costs charged in the financial statements represents the contribution payable by the company during the year. ## **1.12 Renewals** This was an amount agreed by Housing Benefit to specifically purchase and update furniture at each of the projects. ## **2 Critical accounting estimates and judgements** In the application of the charitable company’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. ## **3 Income from donations and legacies** |**Unrestricted**
**Restricted**
**funds**
**funds**
**2025**
**2025**
**£**
**£**
Donations and gifts
25,919
-
Grants
-
797,225
25,919
797,225|**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2025**
**2024**
**2024**
**£**
**£**
**£**
25,919
30,159
-
797,225
-
255,500
823,144
30,159
255,500|**Total**
**2024**
**£**
30,159
255,500| |---|---|---| |||285,659| - 19 - ������������������������������������� ## **ACTION HOMELESS (LEICESTER) LTD** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2025**_ |**3**
**Income from donations and legacies**
**Unrestricted**
**funds**
**2025**
**£**
**Donations and gifts**
Donations and gifts
25,919
25,919
**Grants**
Moneywise Living
-
Severe Weather Beds -
Lottery
-
Housing first
-
Children In Need/Building
Blocks
-
Severe Weather Beds - City
-
Light Budget
-
Mayfield Renovation (SHAP)
-
Personalised Budgets
-
Other
-
-
**4**
**Income from charitable activities**
**Unrestricted**
**funds**
**2025**
**£**
**Charitable activities**
Other income
3,723,153|**Restricted**
**funds**
**2025**
**£**
-
-
50,629
-
106,200
8,588
17,238
-
519,666
29,909
64,995
797,225
**Restricted**
**funds**
**2025**
**£**
420,747|**Total**
**Unrestricted**
**funds**
**2025**
**2024**
**£**
**£**
25,919
30,159
25,919
30,159
50,629
-
-
-
106,200
-
8,588
-
17,238
-
-
-
519,666
-
29,909
-
64,995
-
797,225
-
**Total**
**Unrestricted**
**funds**
**2025**
**2024**
**£**
**£**
4,143,900
3,635,532|**Restricted**
**Total**
**funds**
**2024**
**2024**
**£**
**£**
**(Continued)**
-
30,159
-
30,159
3,320
3,320
19,365
19,365
113,957
113,957
21,568
21,568
20,674
20,674
10,000
10,000
-
-
-
-
66,616
66,616
255,500
255,500
**Restricted**
**Total**
**funds**
**2024**
**2024**
**£**
**£**
546,383
4,181,915|**Restricted**
**Total**
**funds**
**2024**
**2024**
**£**
**£**
**(Continued)**
-
30,159
-
30,159
3,320
3,320
19,365
19,365
113,957
113,957
21,568
21,568
20,674
20,674
10,000
10,000
-
-
-
-
66,616
66,616
255,500
255,500
**Restricted**
**Total**
**funds**
**2024**
**2024**
**£**
**£**
546,383
4,181,915| |---|---|---|---|---| |||||30,159| |||||3,320
19,365
113,957
21,568
20,674
10,000
-
-
66,616| |||||255,500| |||||**Total**
**2024**
**£**
4,181,915| ## **Included within Unrestricted Income for 2025 relating to Housing Schemes are the following:** |Board and lodging and rent receipts
Housing benefits receipts
Bad debts recovered/(written off)
**Total**|£323,161
£3,504,669
(£104,677)| |---|---| ||**£3,723,153**| - 20 - ������������������������������������� ## **ACTION HOMELESS (LEICESTER) LTD** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2025**_ - **4 Income from charitable activities** **(Continued)** ## **Included within Restricted Income for 2025 relating to Housing Schemes are the following:** |Accommodation Based Housing Related Support
Communities Transition Fund
Protect Scheme (Flora Lodge)
**Total**|£222,885
£21,226
£176,636
**£420,747**| |---|---| ## **5 Income from other trading activities** |Fundraising events
**Unrestricted funds:**
Action Trust
**Total**
|**2025**
£22,182
**£22,182**|**Unrestricted**
**Unrestricted**
**funds**
**funds**
**2025**
**2024**
**£**
**£**
22,182
15,016
**2024**
£15,016
**£15,016**|**Unrestricted**
**Unrestricted**
**funds**
**funds**
**2025**
**2024**
**£**
**£**
22,182
15,016
**2024**
£15,016
**£15,016**| |---|---|---|---| ||||| ## **6 Income from investments** ||**Unrestricted**|**Unrestricted**| |---|---|---| ||**funds**|**funds**| ||**2025**|**2024**| ||**£**|**£**| |Interest receivable|41,103|60,221| - 21 - ������������������������������������� ## **ACTION HOMELESS (LEICESTER) LTD** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **7 Expenditure on raising funds** ||**Unrestricted**|**Unrestricted**| |---|---|---| ||**funds**|**funds**| ||**2025**|**2024**| ||**£**|**£**| |**Fundraising and publicity**||| |Premises costs|891|886| |Stationery and publications|1,795|1,597| |Training and communications|1,504|1,888| |Audit and professional fees|407|2,881| |Other fundraising costs|522|303| |Staff costs|34,248|29,457| ||39,367|37,012| - 22 - ������������������������������������� ## **ACTION HOMELESS (LEICESTER) LTD** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **8 Expenditure on charitable activities** |**Housing**
**schemes**
**Charitable**
**activities**
**2025**
**2025**
**£**
**£**
**Direct costs**
Staff costs
804,608
602,818
Depreciation and
impairment
126,443
32,836
Premises costs
892,520
19,984
Management charge
92,476
-
Charitable expenditure
1,260
56,432
Catering costs
-
605
Communications
8,901
541
Stationery, publications and
publicity
5,042
453
IT costs
12,571
2,669
TV Rental & licences
5,255
1,017
Bank Charges & fees
55,509
-
Renewals (misc)
117,312
227,711
Motor & travel
11,617
545
Welfare
2,158
2,894
Training, Meetings & Staff
Development
-
720
Audit & legal fees
7,502
-
2,143,174
949,225
**Share of support and governance costs (see note 9)**
Support
726,843
-
Governance
178,945
-
3,048,962
949,225
**Analysis by fund**
Unrestricted funds - general
3,048,962
-
Restricted funds
-
949,225
3,048,962
949,225|**Total**
**2025**
**£**
1,407,426
159,279
912,504
92,476
57,692
605
9,442
5,495
15,240
6,272
55,509
345,023
12,162
5,052
720
7,502
3,092,399
726,843
178,945
3,998,187
3,048,962
949,225
3,998,187|**Housing**
**schemes**
**2024**
**£**
806,120
97,681
1,102,315
86,359
(61)
35,605
17,722
4,385
12,537
4,454
67,564
44,762
12,729
1,852
-
10,458
2,304,482
656,004
151,885
3,112,371
3,112,371
-
3,112,371|**Charitable**
**activities**
**2024**
**£**
692,800
32,831
49,252
-
48,657
-
275
179
1,606
954
-
3,374
376
3,887
525
-
834,716
-
-
834,716
-
834,716
834,716|**Total**
**2024**
**£**
1,498,920
130,512
1,151,567
86,359
48,596
35,605
17,997
4,564
14,143
5,408
67,564
48,136
13,105
5,739
525
10,458| |---|---|---|---|---| |||||3,139,198
656,004
151,885| |||||3,947,087| |||||3,112,371
834,716| |||||3,947,087| - 23 - ������������������������������������� ## **ACTION HOMELESS (LEICESTER) LTD** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **9 Support costs allocated to activities** |**9**
**Support costs allocated to activities**||| |---|---|---| |Staff costs
Premises costs
Communications
Stationery, publications and publicity
IT costs
Training
Travel
Audit & professional fees
Meeting & staff
Sundry other costs
Vehicle costs
Governance costs
**Analysed between:**
Housing schemes
**Governance costs comprise:**
Staff costs
Audit fees
Premises costs
Communications
Stationery & publications
IT costs
Sundry other costs
**10**
**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**
**£**
582,209
17,860
1,341
2,991
26,860
12,816
900
14,839
8,874
42,413
15,739
178,946
905,788
905,788
**2025**
**£**
68,495
5,760
10,918
176
7,178
26,860
59,559
178,946
**2025**
**£**
18,000
159,281|**2024**
**£**
500,762
17,156
13,726
2,661
17,172
9,642
1,186
13,382
5,159
69,376
5,784
151,883| |||807,889| |||807,889| |||**2024**
**£**
58,913
10,223
7,878
1,797
6,386
17,172
49,514| |||151,883| |||**2024**
**£**
16,200
130,512| - 24 - ������������������������������������� ## **ACTION HOMELESS (LEICESTER) LTD** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **11 Trustees** None of the trustees (or any persons connected with them) received any remuneration during the year (2024- £0). Trustee expenses of £115 were paid during the year. ## **12 Employees** The average monthly number of employees during the year was: |Chief Executive
Housing Schemes
Administration and support
Cleaning/Maintenance
Total
**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:
Band £60,000 to £70,000
Bank £80,000 to £90.000
**Remuneration of key management personnel**
The remuneration of key management personnel was as follows:
Aggregate compensation|**2025**
**Number**
1
32
9
8
50
**2025**
**£**
1,858,025
158,076
76,277
2,092,378
**2025**
**Number**
2
1
**2025**
**£**
257,492|**2024**
**Number**
1
34
9
7| |---|---|---| |||51| |||**2024**
**£**
1,885,587
144,113
58,352| |||2,088,052| |||**2024**
**Number**
-
1| |||**2024**
**£**
232,823| - 25 - ������������������������������������� ## **ACTION HOMELESS (LEICESTER) LTD** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **13 Taxation** The charitable company is exempt from corporation tax on its charitable activities. ## **14 Tangible fixed assets** |**Cost**
At 1 April 2024
Additions
At 31 March 2025
**Depreciation and impairment**
At 1 April 2024
Depreciation charged in the
year
At 31 March 2025
**Carrying amount**
At 31 March 2025
At 31 March 2024|**Freehold**
**Property**
**Scheme Fixtures**
**& Fittings**
**Motor vehicles**
**Central Office**
**Equipment**
**Property**
**Improvements**
**£**
**£**
**£**
**£**
**£**
3,538,028
254,502
47,427
25,329
-
1,123,875
-
-
-
399,089
4,661,903
254,502
47,427
25,329
399,089
972,471
254,502
36,338
25,329
-
153,959
-
5,322
-
-
1,126,430
254,502
41,660
25,329
-
3,535,473
-
5,767
-
399,089
2,565,557
-
11,088
-
-|**Total**
**£**
3,865,286
1,522,964| |---|---|---| |||5,388,250| |||1,288,640
159,281| |||1,447,921| |||3,940,329| |||2,576,645| As outlined under the accounting policies at the end of 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 impairment loss. For the year ended 31 March 2025 the Trustees have considered the valuation of the properties it held and believes them to be appropriate and therefore no further reversal of previous impairment losses was considered necessary as the valuation of properties are believed to be in line with open market values. ## **15 Debtors** |**Amounts falling due within one year:**
Trade debtors
Other debtors
Prepayments and accrued income|**2025**
**£**
320,983
187,851
157,150
665,984|**2024**
**£**
300,695
103,806
129,507| |---|---|---| |||534,008| - 26 - ������������������������������������� ## **ACTION HOMELESS (LEICESTER) LTD** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **16 Loans and overdrafts** |**Loans and overdrafts**||| |---|---|---| |Bank loans
Payable within one year
Payable after one year|**2025**
**£**
747,575
23,835
723,740|**2024**
**£**
769,207| |||21,388
747,819| The long-term loans are secured by fixed charges over seven of the charity's freehold properties with total carrying value of £1,251,383 (2024: seven properties at carrying value of £1,319,458). The bank loan bears interest is at 2.75% above Bank of England base rate, provided that if the Bank of England base rate is lower than 0.00%, the Bank of England base rate applicable to the loan shall be deemed to be 0.00%. Some of the loan has been transferred to a new fixed rate of 4.1%. ## **17 Creditors: amounts falling due within one year** |**Notes**
Bank loans
**16**
Other taxation and social security
Deferred income
**19**
Trade creditors
Other creditors
Accruals
**Creditors: amounts falling due after more than one year**
**Notes**
Bank loans
**16**|**2025**
**£**
23,835
36,287
50,458
125,100
125,135
167,901
528,716
**2025**
**£**
723,740|**2024**
**£**
21,388
34,996
65,540
209,198
79,001
194,969| |---|---|---| |||605,092| |||**2024**
**£**
747,819| ## **18 Creditors: amounts falling due after more than one year** - 27 - ������������������������������������� ## **ACTION HOMELESS (LEICESTER) LTD** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2025**_ |**19**|**Deferred income**||| |---|---|---|---| |||**2025**|**2024**| |||**£**|**£**| ||Arising from Grants in advance|50,458|65,540| ||Deferred income is included in the financial statements as follows:||| |||**2025**|**2024**| |||**£**|**£**| ||Deferred income is included within:||| ||Current liabilities|50,458|65,540| ||Movements in the year:||| ||Deferred income at 1 April 2024|65,540|97,101| ||Released from previous periods|(15,082)|(31,561)| ||Deferred income at 31 March 2025|50,458|65,540| |**20**|**Retirement benefit schemes**||| |||**2025**|**2024**| ||**Defined contribution schemes**|**£**|**£**| ||Charge to profit or loss in respect of defined contribution schemes|76,277|58,352| The charitable company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charitable company in an independently administered fund. - 28 - ������������������������������������� ## **ACTION HOMELESS (LEICESTER) LTD** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **21 Restricted funds** The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes: |**At 1**
Sundry grants
Housing related support contract
Henry Smith - Housing First
Emergency Winter Beds Lottery & LCC
Communities Transition Fund (NHS)
Severn Trent Water
Children In Need (Building Blocks)
Leicester City Council - Right To Buy
Mayfield Renovation (SHAP)
Personalised Budgets - Greater Change
**Previous year:**
**At 1**
Sundry grants
Housing related support contract
Henry Smith - Housing First
Emergency Winter Beds Lottery & LCC
Communities Transition Fund (NHS)
Severn Trent Water
Light Project
Children In Need (Building Blocks)
Leicester City Council - Right To Buy|**April 2024**
**£**
7,524
-
-
-
-
-
-
224,020
-
-
231,544
**April 2023**
**£**
12,849
-
-
-
-
-
-
-
251,528
264,377|**Incoming**
**resources**
**£**
89,351
399,522
106,200
17,238
21,226
26,273
8,588
-
519,666
29,908
1,217,972
**Incoming**
**resources**
**£**
39,946
483,696
113,957
40,039
62,687
29,990
10,000
21,568
-
801,883|**Resources**
**expended**
**At 31 March**
**2025**
**£**
**£**
(92,889)
3,986
(399,522)
-
(106,200)
-
(17,238)
-
(21,226)
-
(26,273)
-
(8,588)
-
(27,514)
196,506
(219,867)
299,799
(29,908)
-
(949,225)
500,291
**Resources**
**expended**
**At 31 March**
**2024**
**£**
**£**
(45,271)
7,524
(483,696)
-
(113,957)
-
(40,039)
-
(62,687)
-
(29,990)
-
(10,000)
-
(21,568)
-
(27,508)
224,020
(834,716)
231,544| |---|---|---|---| - 29 - ������������������������������������� ## **ACTION HOMELESS (LEICESTER) LTD** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **22 Unrestricted funds - Designated Funds** |**At 1**
Property Fund
Property Investment Fund
Dilapidation Fund
Contingency Fund
**Previous year:**
**At 1**
Property Fund
Development Fund
Dilapidation Fund
Contingency Fund|**April 2024**
**£**
-
1,170,000
1,500,000
173,780
243,117
3,086,897
**April 2023**
**£**
-
1,170,000
878,750
163,380
199,123
2,411,253|**Transfers**
**At 31 March**
**2025**
**£**
**£**
-
-
-
1,170,000
1,080,000
2,580,000
91,750
265,530
54,148
297,265
1,225,898
4,312,795
**Transfers**
**At 31 March**
**2024**
**£**
**£**
-
-
-
1,170,000
621,250
1,500,000
10,400
173,780
43,994
243,117
675,644
3,086,897| |---|---|---| During the year the Board of Trustees changed the name of the Development Fund to Property Investment Fund, as this better aligns with the charity's strategic aims. ## **23 Unrestricted funds** |**At 1**
General Fund
Revaluation Fund|**April 2024**
**£**
981,123
67,968
1,049,091|**Incoming**
**resources**
**Resources**
**expended**
**Transfers**
**At 31 March**
**2025**
**£**
**£**
**£**
**£**
3,812,357
(3,088,329)
(1,225,898)
479,253
-
-
-
67,968
3,812,357
(3,088,329)
(1,225,898)
547,221| |---|---|---| - 30 - ������������������������������������� ## **ACTION HOMELESS (LEICESTER) LTD** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2025**_ |**23**
**Unrestricted funds**
**Previous year:**
**At 1**
General Fund
Revaluation Fund
**24**
**Analysis of net assets between funds**
**At 31 March 2025:**
Tangible assets
Current assets/(liabilities)
Long term liabilities
**At 31 March 2024:**
Tangible assets
Current assets/(liabilities)
Long term liabilities|**April 2023**
**Incoming**
**resources**
**Resources**
**expended**
**£**
**£**
**£**
1,065,222
3,740,928
(3,149,383)
67,968
-
-
1,133,190
3,740,928
(3,149,383)
**Unrestricted**
**Unrestricted**
**funds**
**funds**
**general**
**Designated**
**Funds**
**2025**
**2025**
**£**
**£**
2,614,685
1,170,000
(1,343,724)
3,142,795
(723,740)
-
547,221
4,312,795
**Unrestricted**
**Unrestricted**
**funds**
**funds**
**general**
**Designated**
**Funds**
**2024**
**2024**
**£**
**£**
1,182,625
1,170,000
614,285
1,916,897
(747,819)
-
1,049,091
3,086,897|**(Continued)**
**Transfers**
**At 31 March**
**2024**
**£**
**£**
(675,644)
981,123
-
67,968
(675,644)
1,049,091
**Restricted**
**Total**
**funds**
**2025**
**2025**
**£**
**£**
155,644
3,940,329
344,647
2,143,718
-
(723,740)
500,291
5,360,307
**Restricted**
**Total**
**funds**
**2024**
**2024**
**£**
**£**
224,020
2,576,645
7,524
2,538,706
-
(747,819)
231,544
4,367,532| |---|---|---| - 31 - ������������������������������������� ## **ACTION HOMELESS (LEICESTER) LTD** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2025**_ |**25**|**Capital commitments**|**2025**|**2024**| |---|---|---|---| |||**£**|**£**| ||Acquisition of property, plant and equipment|850,000|1,145,827| Prior to the end of the financial year the charity committed funds of up £850,000 for ongoing capital transactions. This consisted of funds for the continued renovation of one property and additional funds to be available for roof repairs to that same property, the estimated total costs of all work here were £200,000. It also committed further funds of £400,000 to began renovation work on recently acquired property. Finally a further £250,000 was earmarked for the purchase of a new property. ## **26 Related party transactions** There were no disclosable related party transactions during the year (2024- none). ## Action Trust Action Trust effectively went dormant as of the 1[st] April 2024 but the outstanding debtor balance owed was paid into Action Homeless on the 27[th] November 2024 (£9,705.35) to clear outstanding liabilities to the charity. |**27**
**Cash generated from operations**
Surplus for the year
**Adjustments for:**
Investment income recognised in statement of financial activities
Depreciation and impairment of tangible fixed assets
**Movements in working capital:**
(Increase) in debtors
(Decrease)/increase in creditors
(Decrease) in deferred income
**Cash generated from operations**|**2025**
**£**
992,775
(41,103)
159,279
(131,976)
(63,741)
(15,082)
900,152|**2024**
**£**
558,712
(60,221)
130,512
(162,918)
78,503
(31,561)| |---|---|---| |||513,027| - 32 - ������������������������������������� ## **ACTION HOMELESS (LEICESTER) LTD** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2025**_ |**28**
**Analysis of changes in net funds**
**At**
Cash at bank and in hand
Loans falling due within one year
Loans falling due after more than one year|**1 April 2024**
**£**
2,609,790
(21,388)
(747,819)
1,840,583|**Cash flows**
**At 31**
**£**
(603,340)
(2,447)
24,079
(581,708)|**March 2025**
**£**
2,006,450
(23,835)
(723,740)
1,258,875| |---|---|---|---| - 33 - �������������������������������������