Règlstered number: 06593129
Charlty numbers: 1125556 & SC040058
HAIG HOUSING TRUST
(A company limited by guarant••)
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THEYEAR ENDED 31 MARCH 2025
CONTENTS
Page
Roforonco and administrativo details of th• Charity. its Trust￿5 and advisors
Tru8tees' r•port
SL*ement of Trustees. responslbllltles
Indepandgnl auditorfs rgport on tha financial ststem&nts
Stalement of Ilnanclal actlvltl•$
12
Balance shg•t
13
Stat•mont of cash flows
14
Noto5 to the Ilnanclal ststements
15-30

HAIG HOUSING TRUST
{A company Ilmltgd by guarantsg)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 MARCH 2025
Trustees
Mr J.H. 8ardett (Chair of Trustees) (Appointed 18 March 20251
Ms L M S Locke {Vice Chair of Trustees)
Mr D G Williams
Mr J.P. Colborne-Bab8r
r S M Elliott (Resigned 25 September 2024)
Mrs S S Fernandes
MrABWeir
DrMJSWeir
Mr N G Whlte
Mrs N Mcwhinney
Mrs K Connell
Mr M Carter (Reslgned 5 February 2025)
Mr C Thomson-smlth
Mr T auaye {Appoinled 25 September 2024)
Mr P R Bales {Appoinled 4 February 2025)
Company regl$t•rnd numb•r 06593129
Charity registered numbèrs
1125556 (England and Wales) and SC040058 (Scolandl
Registergd offic
MoUntba￿0W House
12 Elyzabelh Slreel
London
SW1W 9R8
Company Secretary
Mi¢hael Robb
Chlof oxocutfvo offi￿r TIM Stocklngs
Independent auditor
Crowe U.K. LLP
55 Ludgate Hill
London
EC4M 7JW
Bankers
Barclays Bank PIC
SO P811 Mall
London SW1A 1QF
Sollcltors
Trowers & Hamlln8 LLP
3 Bunhill Row
London EC1Y 8YZ
Senitir
Tim Stockings (Chief ExeculNe}
Leadèrshlp Team ISLTI Michad Robb
William Lindsay
Amanda Deakin
Irfan Chaudhry

HAIG HOUSING TRUST
company Ihnltdl by guar•rt¢•l
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The Trustees present their report and the financial st8temenls of the company for the year 8nd8d 31 March 2025
CHAIRMAN'S STATEMENT
This is my first 5tstemenl as Chair of Haig Housing Tnjst., l am very proud lo have been appolnted lo this position
in 2025 and I pay tribute lo my predecessor, David Williams, who worked tirelessly for our beneficiaries and the
wider Veterans, community. We are in a much better posillon for hls effort and we thank him ort behalfof everyone
associated with Haig Housing.
Whilst there are many challenges ahead. l am confident that we have the team al Haig Housing who will deliver
excdlenl outcomes for our benefiryaries. You will read here about some of the work we have done. as well as an
oudine of ourfulure plans. In the year ahead we will revlew and update our strategy to make surg that we address
the significant ongolng changes in Ihe housing sector, many of which have been prompted by the change of
government In 2024. We welcome the increased focus on housing by senior policy makers and hope that we
an benefft from the addilional fundlng Ihal has been slgnalled.
We are proud ofthe homes that we provide today to more than 4,000 tenant beneficiaries: bul we are very aware
that eurrenlly we cannot meet the increasing demand for veterans, housing. We have ambitious plans to improve
our reach and impact bul even that may not be enough- recognisng that challenge we will work collaborativdy
ith our partners and grow our delivery nelworks. Housing needs are Cri￿cal for everyone and ch8118nges occur
al all staggs of Itlg- so we ¢ndeavour lo stsntj ready to help veteians of all ages and backgrounds across the UK.
l especially want to thank our hardworking and dedicated colleagues who deliver our seNices. They work
Ilrelessly for the benefit ol others and wllhout them our veterans would not be able lo aceess the support they
need. To glve them th8 resour(xs lo do even more we are growing our fundralsing efforts to build and dlvers
our inwme.
We are delighted that HRH the Princess Royal has consenled lo be our new Royal Patron, succeeding Her
Majesty Queen Elizabeth11. We express our sin￿re Ihanks lo the Princess Royal for Ihe support she is providing
to us.
Haig Housing TrusY8 Royal connections date back to our foundation in 1918. with support then from HRH the
Prince of Wales. We are now looking ahead to our Centenary in 2028, when we aim to ￿lebrats the pasl and
S9￿re the future for the Trust and its work to support the UK Veteran community.

HAIG HOUSING TRUST
A Com￿nY Ilmltsd by ouafants•l
Charllablg ObJoGt$ and Governing Documont
The Charity is govemed by ils 2019 Memorandum and Artides of Assoclatlon IMAOAI. whlch outline its object5:
To relieve need, financial hardship, sickness. disability, the effects of wounds. old age or other like
condition by the provision of, or asslstsnce wilh. housing for the following persons in order of priority..
Members and fomier members of all ranks and rallngs of the Amied Forces of the Crown,
whether Regular or Reserve, and their spouses, widows or widowers.
Fomier or separated spouses of members or former member5 of the Amied Forces of the
Crown, whether Regular or Reserve. who have dependent children INino with them.
Such persons In 8. {111 above ￿thOut dependent chlldren.
Such charltable purposes for the benefit of benefiGiarigs of the Charity as Ihe Tru51ees derAde.
Publ1¢ Benefft
The Trustees confirm that the Charity's activit￿$ in support of ils MAOA are delivered effeGtively. ¢omplying wilh
the Charities Act and Charity Commission's guidance.
Go¥ornan¢e
The Board comprlses thirteen independent non*xecullve Iruslees. who bring 8 wea￿h of experience to the
charity and are legalty responsible for the overall management and control of The Tru5L They receive no
remunerallon for IheSr role and any Interests or related paty relationshlps are dlsclosed In Ihe Register of
Interests. All Tru$te8$ sign and adh8TO to Haig's Tru$toe Codg of Conduct.
New trustees undertake an Inducllc*) programme and the Board Is kept up to dale wllh developments through
regular briefings and training. A strategy awayday is held once a year, as well as regular visits to estates. The
Board assess ils porfomance annually, mlndful of the gLJidance issued by the Charlty Commission, and seclor
bodies.
Trustees mel formally every quarter. delegating specillc Sssues to three sub-commbttees that report lo the full
Board: Estates, Finance & Risk IFRCI and People. Oversight of the Trust's properbes in Sc¢)iland is by a Ioc81
committee. consSslng of volunteer members and a beneficiary tenant that mel three limes. Additionally. there
was a Managemenl Committee comprlsing the execulive team and benefldades. The Trust Sntended to move
towards tenant representation on the Board but that has taken longer than envisaged. Future plans are being
reviewed.
There are three linked charitie8wilh similar objects.. Disabl8(l Officer Garden Homes, Mitchell Flats and Clevedon
Homes. The Trust also holds all allotted shares in a dormant Ilmited trading company.. Halg Hou81ng Tradlng
Limlted. see note 24 lo the financial statements.
Remuneratlon
The remungralion policy was agreed by Boar(I In March 2025. People Committee reviews reward and
recognition regularly, Including salary levels and pay awards, making recommendation5 for Board approval.

HAIG HOUSING TRUST
{A company Ilmltad by 9liaraii￿)
REVIEW OF ACTIVITIES
We dellver Impa¢l and publlc benefll by houslng veterans and theirfamilles, of all ages and backgrounds In mlxed
communities across the UK. We are accelerating our efforts lo improve beneficlary service, principalty by
spending more money mainlairbing and mLxlemising our homes. We aim lo foster wnmunSdes in the areas we
operate. with fflost of our estates being made up of a small number of Iow-density family houses wtth good
communal spaces and private gardens. Charging a charllable rent usually well bel¢)w market value. we provido
additional support in Ihe fomi of housing managers and income teams, that allow our benef￿arleS to live fulfilling
INes.
We are working to our 2021 strategy that laid out priorities for fwe years. Given the rapid changes in the housing
sector we will review that work next year. Our Purpose remains..
Provldlng quallty homes to Improve the lives of votgran$ and Ihglr famili88 In noed
Supported by our Strategic Obiecbvos that drive operational ddivery..
B8n•fiGiary fo¢us
Quality $orvic•
Sustainablo homes
We recognSse thal we cannol work in isolation nor do we have the resources lo satisfy every request. We aim to
'meet neod. not want,. In an increasingly complex sector, we have grown our collaborative working wilh partners
to deliver impact for our beneficiaries. We aim lo avoid duplication by signposting those who neod more hdp lo
specialist providers. We have built strong links lo other veterans, charities
As the largest provider ofveterans. housing, we lry to act as 8 unifying voice for our wder st8keholder8, working
with partners lo shape Veterans, housing policy in conjunction wth the cOnf￿eratiOn of SeNice Charities
Icobseol an(J Office for Veterans, Affairs. With a new government in place, we have achieved considerable
success in building links with policymakers.
There is a strategic shift in the political landscape. as the new govemment seeks to drsve better housing across
tha UK sector. This renewed focus on the sector is good, eatalysing as it does di￿￿$s1On and adion on measures
that are long overdue. Our activity has combined intemal work to up5kill staff. modemise systems and streamline
processes to drive better beneficiary service- with outward facing effcft to grow partnerships. The pressures
mentioned in previous reports continue, with contsnuing signrficant cost challenges. We havo refocused efforts
as a result.
We were delighted this year to be awarded Bronze level ofthe Defence Employers Recognition Scheme {DERS)
following our signing of the Amied Forces Covenant in March 2024. We were also pleased lo gain the PrHle in
Veterans Standard IPIVSI, an important slep on ourjoumey of building diversity. Our Sustsinability efforts were
recognised al the National Energy Efficiency Awar(Js and in De￿mber Al Cams, the new Minisler for Velerans
and People visited Morden.
Our Peoplo
We continu8 to inv8sI in Qui team. upskilling them as part of our programme of continual improvement. The new
appraisal system is bedding in.. we wll make some adjustrnents next year to simpltfy it based on staff feedback.
It has pn)moted better engagement and helped us on ourjourney ofcullural change. We hold regularstsff brlefing
days. military orienlation visits and briefings by parther organisauons to help us grow our understanding of the
Am)ed Forces community. We havo updated systems and adjusted team responsibilities lo ensure we remain
focused on our strategic objectives and operational delivery.
Beneficlary focus
We have stepped up our engagement with tenants, including surveys & focus groups, resident meetings In
Morden. regular e-newsleiters, a printed magazine. website bulletins and volunteer days. We signpost tenants to
key information. including links lo veterans partners and charities who can help wlth speelallst knowledge. We
have also rolled out Switchee smart Ihermostsls. which have a valuable wn8ssagin9 function.
Our surveyors and houslng managgrs spend most of their time vislting and dealing diredy wilh our beneficiaries.
We conduct in*)erson Annual Tenancy Reviews. meets'ng over 95% of our tenants in their homes.

HAIG HOUSING TRUST
IA c•mpary Ilmlted by guaranteo)
Additionally, our programme of executs've and Board eslale visits have induded Hackney, Kings Lynn. Norwi¢h.
Liverpool, Warrlngton, Cardrft. Edinburgh, Glasgow and Hamilton.
We continue to promote our CommunSty Fund for rosident4ed projects that improve their neighbourhood. We
take great prlde in our veterans, service and hold anrÈual Remembrance Day events, providing wreaths for
residents lo lay on behalf of Iheir estates.
Quality Servicè
Our visits allow us lo meet Ihose whom we help and provlde Immediate feedback on our successes. as well as
where we need lo Improve. Whilsl the majority of our tenants are happy, we know we need lo continue to improve
and so are inv8sb.ng lo ensurewe can provide better beneficiary service. Our revlsed complaints handling prwes5
helps support us in wtling things right when they go wrong and 15 a key driver of cultural change.
As well 8s upskllllng staff, uslng lethnology and modernising systems, we have a￿0 adjusted team
responsibilittes and recruited experienced staff lo fill gaps. a dear focus on improving Serv1￿ for our
beneficiaries. wo wdl ￿ntinUe this process bringing sknlls that we currently lack In house.
Sustalnable Homes
We h8ve deliVe￿d upgrades lo over 500 homes, ranglng from Insulab"on, new doors, wlndows and roots lo solar
panels and other carbon-reducing Measu￿$. Residents continue to comment favourably on the Improved
habitability such changes bring, as well as the marked reduction in energy costs.
In Ilghl of the consljerable changes In legislation and regulalSons that are In the plpeline. as well as costs and
suliability of current ￿hemes, we have decided to refocus funds lo cor8 modemisation and planned works, to
ensure that we can match future expectstions and maintsin st￿k compllance.
STRATEGIC OUTLOOK
The change of govemmenl has brought a radIcal￿ dlfferent agenda Into soclal houslng and catalysed much
change. We support Ihe renewed focus on investment and putting right decades of under investment. Some of
the changes include profound implicallons for the sector and will increase operational Gosts. We are confident
that we can rise lo the challenge and have adjusted our planned programmes to ensure we have the funds in the
shortlem to respond to new regUlat￿nS. Having delivered most ofour Phase 2.1 Social Housing Dec8rbonisalion
Fund ISHDFI project we have scaled bad( further work to ensure we have funds lo reach revised compliance
regulations that are being discussed by govemment. We work wth sector representatives arKI colleagues in our
peer group to understand how we can best fespond.
Futurè Plan8
Wvewill continue lo Invest In the fabdc of our properues, our stsff and systems to deliver better benefi¢iary service.
We want to grow our impact, by..
Responding to the needs of our benefiliaries
Growing our estate so we Can house morg velerans
Dlsposing of those properties than no longer suit our purpose
Modernising those homes we own
Reducing the c051 of ownership
Improving servlce dellvery whilst driving down costs
Working with partners and growng our networks
Growing and dNersifying our Income streams
Achieving regulatory compliance and long-lerm finanual stsbillty
Active particip8b.on in the housing, charitsble and vetorans, $g¢tor

HAIG HOUSING TRUST
IA Gomrony Umltod by guar4ntg•1
Fundralslng and InvoStrn9nts
Rental income has historically provided the main source of funds for the Trust but we have made a start on
growing our fundraising to generate additional funds for modernlsation and tjevelopmenl. A5 part of this change
we ran a '12 Days of Gratitude, Christmas social media campaign featuring videoed beneficiary testSmonlals for
the first Ume to raise awareness of Haig, the work we do and velefans housing in general.
We aim to raise our lundrai5ing efforts nexi year, in order to gr¢)w and diversify ¢)ur income as well as raise the
awareness of the Haig Houslng Trust lo enable us to grow our impacL
We do not employ a professional fundralser and all activities are overseen by the CE. We are registered with the
Fundraising Regulator, adhero lo the Fundraising Code. GDPR, and do not share data for the purpose$ of
lur)draising. The Trust recaved no complaints in relation to fvndraising activities during the year.
Aside from money to satisfy cashflow and liquidity needs, other fund$ aro invesled and managed by our
professional advisors, Investe¢. in lin8 Imlh th& Board's guidance and risk appetite. Money is invested pryncipally
in investment grade fixed interest $￿UritieS, 'blue ¢hip' equrties and collective funds. Th8 Flnance and Risk
Committee reviews Investh)enl perfomiance quarterty.
Financial Ravi¢w and Results
The plan lo use resources to improve the condition of our estates resutted in a deficit of £4.7M. Cash reserves
11 continue lo be used to fund the upgrade and maintenance programffle.
Total income increased to £16.5M {2024 £14.5MI Rents increased by an average of 7% and £1.3M of grant
income was received. mainly from SHDF12024 £1.3MI
Totsl resources expended were £21.5M12024 £20.2MI. Key items were direct propety costs, including repairs
£15.6M12024 £14.1M)', staff £3.2M12024 £3.OMI,' support £1.2M12024 £1.5M} and depreeialion £1.4M {2024
£1.4M). Total net assets were £78.3M {2024 £83.OM).
The Trust hdds £13.9M {2024 £14.3MI of investment funds with Inveslec, who manage them on a discretionary
basis in accordance with the Investment Pdiey. The Finance and Risk Committee reviews invostment
perfomance quarterly.
Cash * bank vras £4.7M {2024 £8.3M}, most of which aroso from the sale of a18rge property. Most ofthe money
hely in cash and inveslments as well as the prC￿eedS of future sales is designated three main uses: planned
improvements to existing housing stock, sustainability Pfojecls and property acquisition.
Reserves
Sufficient operating reserves are held lo enable the Trust to operate and meet its charitable objects. The amount
held is regularly reviewed, with a minirnum of three to four months operating expenditurg held in Gash ¢y olher
liquid secutities that can bè realised within 60 days. At 31 March 25 reserves of £8.7M12024 £8.3MI weTe held,
equating to 6 months of cash operating expenses with sufficient unrestricted funds to cover dlstribulion of these
serves.
Rlsk Management
Trustees oversee risk m8nag8ment', the FRC reviews the risk register quarterfy and rep￿$ to Board, who assess
top rlsks quarterfy and policy. performance. appettte and the entire risk register annualty. Day to day management
is de￿gated to the executive wbth addillonal assurance provlded by Inlemal audit. In dolng so, the Trustees have
considered the major risks to which the charity is exposed and satisfied themselves that systems or procedures
are established in order to manage those risks in accordance with the Charities (Accounts and Reports)
Regulations 2008, as well as Commisslon guidance contained in CC 26.
Th8 risk policy, reviewed annually. lays outthe process for idenlifylng. assesslng Ilkelihood and impact. managing
and reporting risk, as well as the Trustees. risk appeif(e. Departments hold indThiidual risk register$ lo gnable
effective management, as well as identification of those risks that are most significant,. those risks are
amalgamated into the lop risk rggisler. retnforcing the link between operational and strategic objectwes.

HAIG HOUSING TRUST
Irnpahy Ilmltod by guarants•l
Prlnclpal Rlsk8
The princpal risks arising from operations Indu¢Je'.
> Funding capital inveslment to devebp and modernlse the estate
> The cost of achlevlno sustainable homes at a decent standard
> DelNering high quality beneficiary service that meets increasing expectstic
Contractor performance undermining reputation and satisfaction
An incident that impacts on our reputstion
> Regulatory, legal and compllance requlrements
> The ability to recruit and retain talented staff
Our move lo Increased fundralsing. as well as building partnerships and ne￿orkS lo diversify and grow Income
address the fSrst Iwo risks. We have invested in training and systems, as well as revlsed our policies as part of
our cultural loumey to deliver belter benefici8ry service. We have changed our processes and team structure lo
impiove the monitoring of contractor performark￿. Taken as a who￿, these measures also address the
compliance requirements, as well as mitigating the impact of an irKidenL
We value our collgagues and the work they do daity for our beneficiaries. We encourage a positive. molwaling
culture al work and spend time investing in our people - they deliver for us. Our resources are limlled bul we
belleve we strike a fair balance in our approach to reward and recognition. We hope that working for Haig is
fulfilling for staff and the communlties we serve.
Going Concern
The Trust has a robust business model, which has survived recent thallenges and its financlal strength Is
underplnned by the value of Its property Portfollo. The five-year business plan alms lo upgrade propertles uslng
cash reserves whllsl breaking even on day-to-day activities. The Trust is confident that plan will be substantially
achieved, with potential to extract further value trom non<ore elements of th8 property portfolto if ne￿Ssary.

HAIG HOUSING TRUST
IA company Ilmltad byguarante81
STATEMENT OF TRUSTEES. RESPONSIBILITIES
FOR THe YEAR ENDED 31 MARCH 2025
The Trustees {who are also the directors of the Charity for the purposes of ￿MpanY lawl are responsible for
preparing the Trustees. report including the Strategic report and Ihg financial ststements in ac￿rdanCe wvith
applicable law and United Kngdom Accountlng Standards (United Klngdom Gener81ty Accepted Accounting
Practice).
Company law requires the Trustees to prepare financial stalemenls for gach financial year. Under company law
tho Trustees must not approve the financial statements unless they are satisfied that they give a true and fair
view of the state of affairs of the Charity and of its incoming resources and application of ￿SourCes, including its
Income and expenditure, for that peilod. In preparlng these financl81 statements, the Trustees are required to=
select suitable accounting policies and then apply them consistentty..
observe the melhods and princip￿$ of the Charities SORP IFRS 1021;
make judgments and accounts'ng estimates that are reasonable and prudent.,
slate whether applicable UK Accounting Standards IFRS 1021 have been followed. subject lo any material
departures disclosed and explained in the financial statements.,
prepare the financial statements on the going concern basis unless It is inappropdale to presume that the
Charfty w511 conunue In buslness.
Th? Trustofjs are responsible for keeping adequat¢ a￿OUnting r￿OrdS Ihal are sufficient lo show arKJ explain
the Charity's transaclions and disclose with reasonable accuracy at any time the finanual position of the Charity
8nd enable them lo ensure that the financial ststements comply wlth the Comp8nies Act 2006. They are also
responslble for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention
and detection of frauij and other irregularities.
Provision of information to the auditor
Crowe UK LLP has Indkated tts wllllngness to be reappolnled as ststutory audS10r.
So far as each of the tnjslees are aware, the￿ is no relevant audit information of whlch the company's auditor$
are unaware. and each of the trustees have taken all the steps that they ought to have taken lo make themselves
aware of any relevant audrt infomialion and lo establish that the charitable company's auditors are aware of that
informalion.
The Trustees, Slralogic Report. prepared under the Charities Act 2011 and the Companies Act 2006. was
approved by the trustees in thdr capacity as companydirectors on 24 Seplember202S and signed on th$ir beha
by:
.H. Bartlett
ir of TNstees
. Colborne-Baber
Tr

HAIG HOUSING TRUST
IA Company limit•d by guarantee)
Independent Auditorfs Report to the Members and the Trustees of Halg Housing Trust
Oplnlon
We have audited the financial statements of Haig Housing Trust I'the charitable Company'l for the yèar ended 31
March 2025 which comprise of the Statement of Financial Activities, the Balan￿ sheet, the Statement of Cash
Flows and Notes to the finan¢ial st81emenls, induding significant accounting policies. The financial reporting
framework that has been applied in their preparation is applicable law and Unlled Klngdom Accounting
Stsndards. including Financjal Reporting Stsndaid 102 The Flnancial Reporting Standard applicable in the UK
and RepublSc of Ireland (United Kingdom Generally Accepted AccoLsnting Pracllcol.
In our oplnlon the financial stalemenls..
gwe a true and fair view of the state of tho ¢haritaWe ￿MpanY'S affairs as at 31 March 2025 and of
income and expenditure, for Ihe year then ended.,
have been propedy prFJpared in accordance with United Kingdom Generally Accepted Accounting
Pr8ctlce,' and
have been p￿pared in accordance ￿th the requirements of the Companies Act 2006 and the Charities
and TnJslee Investrnent IScolland} A¢t 2005 and Regulallons 6 and 8 of the Charitie5 Accounts
Iscolandl Regulations 2006 lamendedl.
Bas1$ for oplnlon
We conducted Dur audit in accordance with International Standards on Auditing IUKI IISAS IUKI) and applS¢able
law. Our responsibilrties undèr those Standards are further described in the Audilols responsibilities for the au¢Jil
of the financial statements section of our report. We are independent of the charitable company in accordance
wlth 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 responsibi1Sties in a￿rdance with these
requirements. We belleve that the audlt evidenc8 we have oblained is sufficignl and appropriate lo provide a
basis for our opinion.
Concluslons relatlng to golng concern
In audlllng the financial stalemenls, we have concluded that the Trustees, use of the goln9 concem basis of
accounting in the preparab'on of the financial slalemenls is appropriate.
Based on the work we have perfoymed, we have not Idenllfled any material uncertalntles relallng lo events or
Conditions that, individually or collectwely, may cast significant doubt on the ¢haritsble company's ability lo
continue as a going concem for a period of at least hyelve months from when the financial statements are
aulhorised for issue.
Our responsibililyes and the responsibililies i)f the Trustees with respect to going ¢on¢em are desGribed in the
relevant secb'ons of Ihis report.
Othgr Infornatlon
The Trusle8s are responsible for the olher Informatlon contsined wittiin the annual report. The other informalion
comprises the infomiaknon included in the annual report, other than the financial statements and our audf(or's
report thereon. Our opinbon on the financlal statements dees not cover the other inlomiali¢n and, except to the
exlent otherwise explicitly stated In our report. we do not express any form of assurance conclLJsion Ihereon.
Our responsibility is to read the other information and, in doing so, consider whether the other infomiatlon Is
matsrially Inconslslenl with the financial stslements or our knowledge obtsined Sn Ihe aud51 or otherwise appears
to be materially misstated. If we identify such materi81 inconsistencie5 or apparent material misstatements, we
are required lo determine whether this gives rise to a material misslatemenl in the financial statements
themselves. If, based on the work we have perforned, we conclude that there is a material misstatement of this
olher infom)ati¢Jn, we are raquired lo report that fact.
We have nothing to report In this fegard.

HAIG HOUSING TRUST
(A ¢ompany limlted by guarantee)
Independent Auditor's Report to the Members and the Trustees of Haig Housing Trust
Oplnlons on other rnatters proscrlbed by thg Companlos Act 2006
In our opinlon based on the work undertaken In the couts& of our audit
the infomat16n given in the trustees, report, thich includes the directors, report and the slralegic report
prepared fof the p￿￿oSeS of company law, foi the financial year for which the financial stalfrments are
prepared is consistent with the financial statements,. and
the strategic report and the directors, report induded within the tru$te¢s' report have been prepared in
accordance with applicable legal requirements.
Matters on whlch we are rgqulred to report by exceptlon
In Ilghl of the knowledge and understandlng of the charltsble company and their environment obtained in the
Course of the audit, we have not identified material misstatements in the strategic report or the dirgctors. report
included ￿thin the trustees, report.
We have nothing lo report in respect of the foll¢)wing matters in relation to which the Companies Act 2006 and
the Charllies Accounts Iscouandl Regulations 2006 requlres us lo report to you if, In our oplnlon..
adequate 8nd proper a¢￿Unting reC￿rdS have not been kept,. or
the financial statements are not in agreement with the accounting records an¢J r8tums; or
certain disclosures of trustees. remuneration specified by18w are not made,. or
we have not ￿ceiVed all the information and explanations we require for our audit.
Responslbllltles of trnstees
As explained more fulty In the trustees, re8pon8ibllitie8 Statement Set out on page 8. the trustees (who are also
the directors of the charitable company for the purposes of company lawl are responsible for the preparauon of
the financial slalemenls and for being satisfied that they give a true and fair view, and for such intemal control as
the trustees determine is necessary to enable the preparation of financial statements that are free from material
misstslement, whether due lo fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the ch8fTtable company's ability
to continue as a going COn￿r￿. disclosing. as applicable. fflatters related to golng concern and using the going
concern basis of accounbng unless the trustees either intend lo1Squidale the charStable company or to cease
operations. ￿ have no realistic allernative but lo do so.
Auditovs responslbllltles for the audlt of the flnanclal statements
We have been appointed as auditor under section 4411 Xc} of the Charities and Trustee Investsnent {Sco￿and)
Act 2005 and under the Companies Act 2006 and report In accordance with the Acts and relevant regulations
made or having effect thereunder.
Our objects.ves ar8 lo obtaln reasonable assurance about whether the financlal statements as a whole are free
from material misstatement, whether lo fraud of error, and to issue an auditor's Teport that includes our
opinion. Reasonable assurance is 8 high level of assurance bul is not a guarantee that an audit conducted in
a￿)rdance with ISAS (UK} will always delecl a material misstatement when It exists. Misslalemenls can arbse
from fraud or error and are considered material if. individually or in the aggregate, Ihey could reason8bty be
expected lo influence the economic decisions of users taken on the basis of these financial statements.
Details of the extent to whlch the audit was consklered capable of dg1g¢ting irregularitsos. including fraud and
non-compliance with laws and regulations are sel out below. A further description of our responsibilities for the
audlt of the financial statements is located on the Financial Reporting Council's website at..
www.frc.org.uklauditorsresponsibilities. This description foms part of our audrtorfs Teport.
Extent to whlch the audlt was consldered c•pablè of detectlng Irregularltlos. Includlng fraud
Irregulariues. including fraud, are instances of non-complianGe with laws and regulations. We Klentified and
assessed the risks of material misslalemenl of the financial slalements frgm irregularities, wholher due lo fraud
or error, arbd discussed these bfrb¥een our audit team members. We then designed and perfomied audil
10

HAIG HOUSING TRUST
IA Gompany limited by guarante?)
Independent Auditorfs Report to the Members and th8 Trustees of Haig Housing Trust
procedures responsNe lo those risks, includlng obtslnlng audll evSdenco sufficlenl and appropriate to provide
basis for our gpinion.
We obtained an understanding of Ihe legal and regulatory frameworks within which the Charitsble company
operates, f{￿USIng on those laws and re9ulations that have a direct effect on the delermSnatSon of material
amounts and dSsclosures In the financSal slalements. The laws and regulationswe considered In this context were
the Companies Act 2006, the Chafities Act 2011 and The Charllles and Trusts8 Investment Iscolland) Act 20051,
together bwth tho Charities SORP {FRS 102). We assessed the required compliance with those laws and
regulations as part of Ouf audit procedures on the related financial ststemenl items.
In addlllon, we considered provisions ofolher laws and regulations Ihal do not have a dlrecl effect on the finanual
slalemenls bul compliance wlh which might be fundamental to the charitable company's ability to operate or to
avoid a material penalty. We also considered the opportunities and in￿ntiveS that may exist within the charitable
company for fraud. The laws and regulations we considered In Ihls context for the UK operations were General
Data Protection Regulations, Health and Safety legislalSon and Employment legislation.
Auditing standards limit the required audll pr¢xedures to idenllfy non-compllance with these laws and regulations
lo enquSry of the Trustees and other management and inspection of regulatory and legal correspondence. if any.
We identrfied the greatest risk of matertal impact on Ihe finanGial statements from irregularities. induding fraud.
to be within the liming of recognition of repairs and mainlen8nce expenditure and the override of controls by
management. Our audit procedures to fespond lo these risks included enquiries of management, inlemal audit
and the Finance & Risk Committee about their own Idenlificalion and assessment of the risks of irregltlarilies,
sample testing on the posting of joumals, reviewing accounb.ng estimates for bi8se$, reviewing regulatory
coThespondence Mlh the Charity Commbssbn. Comp8nies House, OSCR and reading minutes of meetings of
Ihos8 charged with governance.
Owing lo the inherent limitations of an audit, there is an unavoldable rSsk that we may not have detected some
material mi5stslemenls in the financial slalemenls. even though we have propwly planned and perforTned our
audit In aecordance with auditing standards. For example, the further removed non-compliance with laws and
regulations lirregularilies) is from the events and transactions reflected in the financial stalemenls, the less likely
the inherenuy limited procedures required by auditing standards would identfy it. In addition. as with any audit.
there Temalned a hlgher risk of non4letectwJn of irregularilie5. as these may involve collusion, forgery, Intentlonal
omissions, misrepresentations. or the override of internal controls. We are not responslble for preventing non-
compliance and cannot be 8xpe¢ted lo detect non-compliance with all laws and regulations.
Use of our ropt)rt
This report is made solely to the charitsble company's members. as a boty, in accordanee with Chapter 3 of Part
16 of the Companies Act 2008, and to the charitable company's trustees, as a tody, in accordance with
Regulation 10 of the Charitres Accounts (Scollandl Regulauons 2006. Our audit work has been undertaken so
that we might stsle to the charitable ¢ompany'$ membeTS those matters we are required to stste to them in an
audf(orfs report and for no other purpose. To the fullest gxtenl pwmitted by law, we do not accept or assume
responsibilrty to anyone other than the charitable company and the charitable company's members as a boty
and the charitable company's truste8s as a body, for our audit work. for this report, or for the opinions we have
formed.
•kb
Vincent Marke
Senior Slatulory Audltor
For and on behalf of
Crowe U.K. LLP
Slatul¢)ry Auditof
London
Dale= 25 September 2025

HAIG HOUSING TRUST
{A company limit•d by guarant99)
STATEMENT OF FINANCIAL ACTNITIES {INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 MARCH 2025
Endowmènt
funds
2025
£000
Restri￿ed Unrestrlcted
funds
funds
2025
2025
£000
£000
Total
funds
2025
£000
Total
funds
2024
Not8
Income from:
Donations and ￿0¢le¥
23
23
Charitable aGtivitie$
271
12.130
12.401
Grants
1270
1270
1,313
Profil on sale of assets
2.410
2,410
881
Inveslments
10
361
371
754
Other income
Totsl Income and
endowments
13
14
Expondhurè on:
Raising funds
Charllable a¢tiviUes
118
20.927
118
21287
92
20.069
14
Total eX￿ndItur*
14
Nel gainslllossesl on
investm&nts
{6)
269
263
382
Nat income before
oth•r r¢¢ognised
galns
14
73
Actuarial {kJssesl on
defineij benefit pension
schemes
Net movement In
funds
Reconciliation of
funds:
Total funds brought
forward
(131
113)
{511
525
19.732
62,778
83,035
68,330
Nel movemenl in funijs
Total funds carrlod
forward
1141
1711
{4,586)
{4,671)
152951
The Statemenl of Financial Activities indudes all gains and losses recognised in the year.
The notes on pages 15 10 30 form part of Ihesg finan(aal stalemenls.
12

HAIG HOUSING TRUST
IA company Ilmtted by guarantee)
BALANCE SHEET
AS AT 31 MARCH 2025
2025
£000
2024
Note
Fixed assèts
Tangible assets
Investments
11
12
63.246
13.911
64,614
14.292
77.157
78.90
Current assot8
Debtors
Cash at bank and in hand
13
1.759
4,651
1.302
8.329
6.410
9.631
Creditors: due within one year
14
{4,903)
15.143)
Net current assets
1,507
4N88
Total assgts1g89 current liabilities
78.664
83,394
Defined benefit pension scheme liability
21
{300)
13591
Total nat assats
Charlty fund$
Endowment fund8
Restricted funds
Unrestrlcted funds
15
15
15
511
19.661
58.192
525
19,732
62.778
Totsl funds
The finanaal statements were approved and authorised for issue by the Trustees and signed on iheir behalf by:
.H. Bartlett
Ch
ir of Trustees
Date:
24 September 2025
olborne-Baber
Tru
13

HAIG HOUSING TRUST
IA company limited by guarantgo)
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2025
2025
£000
2024
Note
Cash flows from operating activities
Net ￿$h used in operating o¢1ivilies
17
(7.0201
{2,996)
Cash Ilow$ from Invosilng artlvltlos
Interest and dividends receive(I
Proceeds from the sale of tsngible fixed assets
Proceeds from the sale of inveslments
Purchase of investments
Purchase of tangible fvxed assets
371
2,629
5.118
14.5201
<238
633
1.277
110.001}
{581)
Not cash providod by Invosling actlvltles
3.360
18,6721
Cash flows from financing activitie8
Repayments of borrowing
Interest payable
15611
(18)
Net cash used In flnanclng actlvltles
{18)
16151
Chang& in cash and cash aquivalants in th8 year
{3.6781
(12,283)
Cash and cash equivalents al the beginning of the year
8,329
20,612
Cash and cash equivalents at the end of the year
18
Thè notss on the following pages fom part of thes6 financial stat8m8nts.
14

HAIG HOUSIMG TRUST
{A wmpany limit•d by guarantee)
Notes to the flnanclal statèments
Gongral information
Haig Housing Trust is a private company limited by guarantee (registered number 065931291 which is
incorporated and domiciled in the UK and meets the definltbon of a publlc benefit entity under FRS102.
The address of the registered office is Mountbarrow House, 12 Elizabeth Street. London. SW1W 9RB.
Accounting policl•s
2.1 Basls of preparatlon of flnanclal statsmonts
The financial statements have been prepared in accordance with the Charib'es SORP IFRS
102} - Accounting and Repcrting by Charities.. Slalement of Recommended Pradice applicable to
charities preparing their accounts in accordan￿ with the Financial Reporting Stsndard applicable in
the UK and Republic of Ireland (FRS 102) leffecfjve 1 January 2015}. the Financial Reporting
Standard applicabl¢ in the UK and Republic of Ireland {FRS 1021 and the Companles Act 2006.
22 Going conc•rn
The Trust has a robust business model. tre durablllty of which has been confimied durfng the last
two years. despite challenges faced In SIS operallng environment. The financial strength of the Trust
is also confimied by the long term v81ue of its substantial property portfolio.
The Trust has continued lo malnt8in tts substsntlal cash balances. The Trust's five year forecasts
Indlcate that il will ￿ntinUe lo maintain a positive cash balance over this period, desP11e plans to
considerably increase expenditure on its pfopety Portfolio. The Truslees and Directors are confident
thal Ihls forecasted five year cash perfomiance Mll be substanlSally achleved, and they are aware of
the polenllal to extract further value from non-core elements of the propety Porttolio if necessary.
Accordfjng￿ they Continue to adopt a ￿Ing ￿nC£M basis in preparing the financl81 statements.
2.3 Income
Incom8 from rentsl and service charges is recognised In the financial ststements Sn th& period lo
which the rer)t or Service charge relates and entitlement is earned. Investment income is accounted
for on an accruals basis.
Donatlons re￿iVed are accounted for through the incom8 and 8xpendilure account on a receipts
basis. Donated properties aro Included al Ihelr open market value or their exlsling use value al the
date of the donation.
Legacles are recognlsed In the finandal stslements only upon the gr8ntlng of probate provlded there
is probability of legal enlillement and a reliable estimate can be obtained on notifications received
before the year end. Non-performance related grants are accounted for as received.
2.4 Expenditure
Expenditure Is recognlsed In the perfod in which it is incurred and includes attributable VAT wh
cannot be recovered. Support costs comprise of administration costs and are allocated to the various
ost categories on the basis ofan estimate of staff time attributable to each activity. Governance costs
are Ihe expenses Incurred by the charity in meeting their slatutory and constilulional requirements
and indude Twstees. expenses and external audit fees.
2.5 Houslng Properties
Depreciation is charged to write down the value of freeho￿ housing propertles lo Ihelr es￿mated
residual value on a straighl line basis over thelr remaining expected usefvl economic lives. No housing
properties are shown at a value exceeding their eslimaled recoverable amount. Impalment losses
recognised are shown under operating costs.
Freehol(I land is not depreciated. Freèhold Properlies are depreaated over 50- 70 years dependlng
on the property. Leosehdd properties are deprec4aled over the shorter of the temi ofthe lease or their
estimated useful life.
15

HAIG HOUSING TRUST
IA company Ilmlted by guarantee)
Notes to thg financial statemants
Othr Fixod Assets
Assets costing more than £1,000 are capitalised. Depreciation is charged on a 8lr8ight line ba$1$ over
the expected economic lrfe of the assets at the fdlowing rates..
Freehold offices
Motor vehlcles
Office equipment
-2%
-33%
-33%
50 years
3 years
3 years
2.6 Invastmants
Investments are stated at market value at the balance sheet dale. G8Ins are calculated based on the
movement in market value during the period. The inveslments In the subsidiary undertakings are
slated at deemed cost less impaimi8nL
2.7 Debtors
Trade and other debtors are recognised al the setuemenl amount after any trade disc£Junt offered.
Pr8paymenls are valued at the amount prepaid net of any trade dlscounls due.
2.8 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid inveslmonts with 8 short maturity
of three months or less from the date of acquisition or opening of the deposit or similar a¢¢ount.
2.9 Llab11tt19$
Liabilities and provisions are recognised when there is an obligation at ihe Balance sheet date as
result of a past event, it is probable that a transfer of economic benefil will be required in settlement.
and the amount of the se￿eMent can be estimated reliably.
2.10 Financial instruments
Haig Housing Trust has financial assets and financial liabilities of a kind that qualify as basic flnanaal
nstruments. Basic financial instruments are inrtially recognlsed at transaction valuè and subsequently
measured at amortlsed cost using the effects.ve interest method.
Financial assets held atcosl comprise cash at bank and in hand, togelherwith tiaije and otherdeblors
{exdudes prepayments). Financial liabilib'es held at cost comprise bank Loans and overdrafts, trade
and other creditors (excludes renl in advance).
Investments, held as part of an investment portfolio, are held at market value at the Balance Sheet
date, wilh gains and losses being recognised within inwme and expendlture. The value of these
assets at 31 March 2025 was £13,911,00012024.' £14,292,000).
2.11 Penslons
Haig Housing Trust parbcipates in a defined benefit pension scheme (The Pensions Trust Social
Housing Pension Schemol and a defingd contribution Scheme. Costs in connection with bolh pension
schemes are charged to the Statement of Financial Activities as contributions fall due.
2.12 Fund accountlng
RastriGtgd funds
Donations or legacies received which are eami8rked by the donor for specific purposes. Such
purposes are within the overall aims of the charity
Endowment funds
These are restricted funds which musl be retained as trust capltsl, sublecl to a dlscrellonary power to
use thls capital for spKifi¢ purposes.
16

HAIG HOUSIMG TRUST
(A company limitod by guarantee)
Notes lo the flnanclal stalgments
Deslgnatgd funds
These funds have been designated by the trustees for specific purposes. The largest designated fund
represents amounts invested in fixed assets for use by the charity.
Gen8ral fund
The funds are available at any time for the use al the discrgtion of Trustees for furtheran￿ of Ihe
charity's activrbes and obJ"e¢tNes.
CrItI￿1 accountlng ¢Stlmgtgs and aroas of judgment
In the application of the Charity's accounting policies, Tru$tg95 arg r¢quired lo make judgements.
estimates, and assumpllons about the carrylng values of assets and liabilities that are not readily apparent
from other sources. The estimates and underlying assumptions are based on historical experience and
other factors that are considered to be relevant. Actual results may dtffer from these estimates.
The 88￿mateS and undedylng assumpllons are revlewed an on-going basls. Revlslons lo accounong
eslim8le5 are recognised in the period in which the estimate is revised if the revision affects only that
period or in the period of the revision and future periods if the revision affects the current and future periods.
In theview oflhe Trustees, no assumptions concernlng Ihe fvlure or estimation uncertainty affecting assets
and liabilities at the balance sheet date are likely to result in a malerlal adjustment to thelr carrylng amounts
in the next financial year. The areas where judgments and estimatgs have been made indude..
Ponslons
The SHPS pension liability is based on the SHPS valuation as at 31 March 2025 and fijll details of this
liability and the undedying assumptions are disdosed in nots 21.
Usèful oconomic lifo of assats
The estlmatlon of the useful economlc lrfe of the properlies within the portfolio means that deprecSalion Is
a judgment.
Impaimiont
Impaimient of the properUe5 Is consldered annualty- In making the judgement management consSder the
condition and current use of the property. Ouring the year a £22,00012024'. £116,000) Impairm8nl
charge was made against the Charity's fomier office premises in Morden as disdosed in note 11. There
were no other impairnienls in the currenl or prior year.
Income from donallon8 and legacie8
unr￿tricted
fvnds
2025
£000
Total
funds
2025
£000
Total
funds
2024
Don81ions
Legacies
18
18
Income from Ghariloble activilies
Reslrl¢ted Unreslrlcted
fund5
funds
2025
2025
£000
£000
Total
funds
2025
£000
Total
funds
2024
Provlslon of housing to benefiaaries
17

HAIG HOUSING TRUST
IA ￿MpanY Ilmlted by guarantee}
Not￿ to tho financlal statements
Analys1$ of oxpgndituro on charltablo aGUvttles
Summary byfund ty
Endowmont
funds
2025
£000
Restrlctgd Unrostrlctad
funds
funds
2025
2025
£000
£000
Total
funds
2025
£000
Provision of housing to beneficiaries
Analysi$ of oxponditurn by a¢tivitles
2025
£000
2024
Staff costs
3,240
2,992
Property repair, serving and management
15,572
14.147
Interest payable
18
Bad debt expense
16
Relum of grant to Help for Heroes and donations paKI
75
Building depreciation
1.277
1,277
Support Costs
1.164
1,470
Support costs as above include consultancy fees of £27.000, legal and professional foes of £71,CK)O,
informats'on technology costs of £229,000, ancillary staff costs of £170,000, telephone expenses of
£83,000. depreciation and office impairment of £111,000 and other costs of £413,000.
In prior years Help for Heroes has contributed grants towards purchase of properties. These grants are
returned lo Help for Heroes in the event a property bought using a Help for Heroes grant is sold. Tho
nel balance of Help for Heroes grants used lo purchasg propertios as at 31st March 2025 was £1.SM
12024 £1.5MI. No pioperties bought using a Help for Heroes grant are currently planned for dlsposal.
Audltorfs remunoratlon
2025
£000
2024
Fees payablo to the Charity's auditor for the audit of the Charftys annual
accounts
Fees payable lo the Charity's audllor In respect of..
All non audll ServI￿S not included above
18

HAIG HOUSING TRVST
(A company Ilmltgd by guarant8e)
Nolos to the financial statements
Staff costs
2025
£000
2024
Wages and sala￿8$
2,813
2.589
Social security Costs
281
270
Contribution to defined contribution pension schgmes
202
The average number of persons employed by the Charity during the year was as follows..
2025
No.
2024
Provision of housing
48
47
Support ￿sts
12
12
The number of employees whosg employge benefits (excludlng employer penslon costs) exceeded
£60.000 was..
2025
2024
In the band £60,001- £70,000
In the band £70,001- £80.000
In the band £80,001- £90,000
In the band £90,001- £100,OCKI
In the band £130,001- £140,000
In the band £140,001- £150.CI)O
Several senior staff left the organisation over Ihs year. whlch affects the above ftgures.
Employer's pension contributions of £52.95412024 42.773) were pald in respect of these higher paid
employees. The total employee benefits of 5 key management personnel of the charity were £569,527
12024.. 5 key management personnel raceived £504.4611.
10. Tru$t•èy' romuneration and expgnsos
During the year, no Trustees r￿e1ved 8ny rem￿nera￿on or other benefts (2024: £nil}.
During the year ended 31 Marth 2025. expenses of £2k were relmbursed or pald directy to Trustees
12024.. £1kl
19

HAIG HOUSING TRUST
IA company limitèd by guarantee)
Noto8 lo Ihe financlal statèmants
11. Tangible fixod assots
Housing
propertles
£000
Work In
progross
£000
Freehold
Offl¢e
offlc• equlpmont
£000
£000
Totsl
£000
Cost or valuation
Al 1 Aprll 2024
82,243
307
298
82,848
Additions
210
237
Disposals
12581
1258}
At 31 March 2025
81.985
210
307
325
82.827
Dgpre¢iation
At 1 Aprll 2024
17.805
278
151
18234
Charge for the year
1.277
83
1.366
On disposals
1411
(41)
Office impaimient
22
22
At 31 March 2025
19,041
234
19,581
Net book value
Al 31 March 2025
At 31 Merch 2024
12. Investments
2025
£000
2024
£000
Market Valvo at 1 April
14.292
3.818
Addlllons
4.720
10.118
Dlsposals
(5.3841
(261
Gain l (losses) on investsnents
263
382
Market value at 31 March
Historic Cost
Investsnenls comprise £13.9m under management with Invest8c and are represented by holdings in UK
and ovets8as fixed interest, equities and propety funds.
20

HAIG HOUSING TRUST
(A ¢ompany Ilmlted by guarantse)
Notes to the flnanclal ststemonts
13. Débtors
2025
Éooo
2024
£000
Rent debtors
277
383
Prepayments
229
Accrued Income and other deblors
1.253
529
1￿ Creditors: Amounts falllng due wlthln one year
2025
£000
2024
Trade creditors
1.166
1.755
Other CTeditors
153
205
Accruals and deferred In￿me
3.183
The above indudes £131k12024: £317k} of deferred income whith rglales lo rental in¢ome received in
a(Jvance, the amount bought forward was recognised fulty within the year.
21

HAIG HOUSING TRUST
(A Company limitod by guarantee)
Notes to the financial statements
15. Statement of funds- current year
Tran$for¥l Balance al
Galn$l
31 March
{Lossos}
2025
£000
£000
BalanGo at
1 April 2024
£000
Income Expendituro
£000
£000
Vnr&strl¢ted funds
Designated funds
Fixed asset fund
Leasehold liability fund
Sustsinability projects fund
Property acquisition fund
Planned improvements fund
Community chest reserve
Pension rgserve
44,785
{1.317}
165)
43,403
117
2.305
1,000
5,000
72
{300)
7,000
1,000
3,000
72
{3591
12,6951
{2.0001
2.000
72
(13)
General funds
General Funds- all lunds
7.163
16.203
117.105)
6.595
Totsl Unrgstricted funds
Endowmgnt funds
Pemianenl Endowment
52
14
511
Restrlcted funds
Veterans Accommodatbn
14,580
14.580
Colthester Borough Council
DSSHF
Disabled Officer Garden
Homes
Help for Heroes (coming homel
Other
Mrs Willie James Fund
450
2.679
450
2,706
135
11081
56
1,560
104
303
136
12341
(42)
1.560
104
303
10
{4)
(61
Total of funds
22

HAIG HOUSING TRUST
IA ￿MpanY Ilmited by guarantsel
14otg$ to the financFal statomonts
ststement of funds -prior y•ar
Transfersl Balance at
Gainsl
31 March
ILossg$)
2024
£000
£ooD
Balance at
1 April 2023
£000
Incom• Expendlture
£000
Unrestrlcted fvnds
Designated fund$
Fixed asset furKI
Leasehold liability fund
SL¢slainabllity projects fund
Property acquisition fund
Planned improvements fund
Community chest reserve
Pension reserve
45.881
11.3301
234
44.785
117
7.1100
1.000
3.000
72
(359)
55.615
7,000
1.000
3.000
72
374
56,696
66
{1.2641
{51}
183
G•n•ral funds
General Funds - all funds
11.189
14274
(18,450)
150
7.163
Total Unrestrlcted funds
714
Endowment funds
Pemianenl Endowment
539
14
525
Restrlctgd fvnds
Veterans Accommodallon
Colchester Borough Council
DSSHF
Disabled Officer Garden
Homes
Help for Heroes Icomlng homel
Other
Mrs Willie James Fund
14.580
450
2.770
14,580
129
1220)
2,679
61
1.635
104
306
128
(133)
{75)
1.560
104
303
(51
{2)
433
Permanent Endowment
Relates to properties originally gifted lo Disabled Officer Garden Homes.
Rgslrlcted Funds l Re￿r￿S
Velarans AccOmmodat￿n Fund
This furKI was created with monies from the Ministy of Defence and is lo be used to develop Ipurchase
properties In Morden. Scotland. Aldershol and Colchester. Al 31 March 2025 the balance of the fund
included properues purchased. There is a 15 year covenant on assets purchased with these funds.
Colchester Bcwugh Coundl Fund
This reslri¢led fund was created wlth monlesfrom Colchester Borough Council lo provrdg affordable homes
for ex-service men and women.
Dlsabl8d Soldler 8nd Sailors fH•ckney) FoUndat￿n (DSSHF)
This restricted fund was created on the glftof the assets and liabllitoes of the above charity lo Haig Housing
Trust. Further details are Included in note 24.
23

HAIG HOUSING TRusr
IA company limlted by guarante•l
Notes to tho flnanclal statomonts
Disabled Offic8r Garden Homes
This fund (along with the pemanent endowment fund) represents funds in respect of Disabled Officer
Garden Homes administered by Haig Housing Trust. Further details are induded in Note 24.
H8lp for H8roes (Coming Hom8J
These funds comprlse amounts donated to provlde housing to insured service men and women.
Mrs ￿llIe James Charity
Administered by Haig Housing Trust, thefunds are used to supporta variety of purposesfor needy tenants.
Dosignatod funds I ro8orwo8
Flxed asset fvnd
Thls represents the net book value of Tanglble Fixed Assets held in unrestricted funds which aro not
available in the short term lo fund the Trust's activities. Transfers represent net additions to fixed assets.
Leasehold liability fund
An accumulation fund created to retain fvnds for the renewal and extension of18ases on short and medium
term 5easehold properties.
Sustainability projects fund
This fund was created lo retsin funds for planned su5tsinability improvements lo the Trust's exlsting
properties in line wlh the five-year estate improvement project.
Property acquisrtion fvnd
A fund created lo provide lor funds in antirypation of future property acquistions In the comlng five ye8rs.
Planned impmv8ments fvnd
A fijnd created to provide funds for a range of planned impTovements lo the Trust's 8￿sting propety
p(xttolio in line with the five-year estate improvement project.
P8nsion resenie
This represents funds sel aside for the potential future costs arising from the Tnjsfs commitment to the
Socsal Housing Pension Scheme.
Communlty Chgsl Rosorve
This fvntj was ueated to hold individual donations in order to ensure that the amounts donaled are
subsequ8ntty spent on charitsble purposes in dedication to these donors.
16 Analysls of net assets between fund8- current porlod
Endowment Restrictsd Unrostridod
funds
funds
funds
2025
2025
2025
£000
£000
£000
Tolal
fvnds
2025
£000
Tangible fixed assets
511
17,709
45.026
63,246
Fixed 8ssel Investsnents
13,613
13.911
Current assets
1.654
4.756
6.410
Creditors due within c￿8 year
14,9)31
{4,9031
Provlsions liabilities and charges
13001
13001
Total
24

HAIG HOUSING TRUST
(A company Ilmlted by guaranlg0}
Notes to the financial stat•ments
Analysis of not assets between funds . prfor ￿rIOd
End¢>wm•nt Restrlctgd UnTOStrlcted
funds
funds
funds
2024
2024
2024
£000
£000
£000
Tolal
funds
2024
Tangible fixed assets
525
17,709
46.380
64,614
Fixed 8sset Investments
295
13,997
14,292
Current assets
1,728
7.903
9,631
Creditors within one year
15,143)
(5,143)
Provisions for liabilities and charges
(3591
13591
Total
17. Reconclllatlon of net movement In funds to n¢t ¢ash Ilow from operatlng actlvltles
2025
£000
2024
Net income for the period (as per Statement of Financlal Activltles}
14,9211
(5,626)
Adjustments for:
Depreciab'on charges
1,366
1.380
Interest and dividends re￿iVed
(371)
1634)
Profit on the sale of fixed assets
Movement In penslon deficlt liabi1Sty
(2.410)
1721
1881)
1661
{Increase) l Decrease in debtor5
{4571
{9341
Increase l (Deuease} in creditors
11731
3.711
Interest payable
18
Net ￿5h provid•d by operating activiti•s
18. Analysis of cash and cash equivalents
2025
£000
2024
Cash in hand
4.651
8.329
Total ¢ash and ¢ash gqulvalonts
25

HAIG HOUSING TRUST
(A company limited by guarantsèl
Note8 to the flnanclal Statements
19. Analysls of N•1 D•bt
At l April
2024 Cash flows
£000
£000
At 31 Mar¢h
2025
£000
Cash al bank and in hand
8.329
(3.678}
4,651
Debt due within 1 year
Capital commitmants
2025
£000
2024
Contracted for but not provided in these financial statements
21. Pen8lon commltments
Dafined bgnoflt schamg
The Trust partlcipales In the Social Housing Pension Scheme {the scheme), a multi-employer scheme
which provides benefits to some 500 non-associated employers. The scheme is a defined benefit
scheme in the UK.
The scheme is subject to the funding legislation oullined in the Penslons Act 2004 which came Into
force on 30 December 2005. This. together with the documents issued by the Penslons Regulator
and Technical Actuarial Standards issued by the Finanaal Reporting Coundl, set out the framework
for funding defined benefit occupational pension ￿heMeS In the UK.
The last completed lriennial Valua￿on of the scheme for funding purposes was carried out as at 30
September 2023. The valuation revealed a deficit of £693m. A recovery plan has been put in place
with the alm of removlng this defiol by 31 Marth 2028.
The Seheme is dassified as a 'lasl-man standing ariangemenf. Therefore the Trust is potentially
liable for other participating employers, obligations if these employers are unable lo meet their share
of the scheme deficit following withdrawal from the scheme. Partlcipaling employers are legalty
required lo meet their share of the sch8me deficll on an annulty purchase basls on wlthdrawal from
tho Scheme.
For financial years ending on or before 28 Febnjary 2019, r( was not possible for the Trust to obtain
sufficient information lo enable it lo account for the schemo as a defined benefit scheme. Therefore
the Trust accounted for the Scheme as a defined contribution schefne. For financial years ending on
or after 31 March 2019, 11 has been posslble lo oblain suffldenl Informallon lo enable the Trvsl to
acwunt for the scheme a5 a defined benefit scheme.
For aw)unting purposes, a valuation of the scheme is cathed out wllh an effeC￿ve date of 30
September each year. The liability figures froffl this valuation are rolled forward for accountlng year-
ends from the following 31 March to 28 February inclusive. The latest accountlng valuation was
arried out with an effecllve dale of 30 Seplgrnber 2024. The liability figures from this valuation wer8
rolled fryword for accountsng year-ends from 31 March 2025 to 28 Febwary 2026 indusive.
The liabilities are compared, at the relevant aecounting date, wlh the Trusfs fair share of the
Schemes total assets to calculate the Twsl's nel deficit or surplus.
26

HAIG HOUSING TRUST
{A company limited by guaTantsel
Noto8 lo the financlal statement8
Falr value of lan assets
rosent ￿lue of deflned benefft obli ation and
2025
2024
(£00031 (£0003)
Fair value of plan assets
1.649
1.682
Present value of defined benefit obligation
1949
2,041
SuTpIu5 {defiall in plan
{300)
13591
Defined benefft asset {liability) lo be reccKJnlsed
13001
(359>
R•conciliation of o nin
and ¢1￿1n
balances of the defSn•d bgnefrt obli
ati
2025
(£OOOs)
2,041
2024
(£OOQsJ
2.046
Defined benefit obligation al start of period
Interest and other expenses
99
ioi
Actuarial losses (gains) due to scheme experience
104
AcbJ8rial108ses {g8ins} due to changes In financial assumptr)ns
(167)
Benefi15 paid and expenses
(128)
1949
(117)
DefI￿d benefit obllgatlon at end of perlod
2.041
Reconclllatlon of o
assets
In
and closl
Ir value of lan
2025
{£OOOs)
1.682
81
1761
90
(128}
2024
(£OOOs)
1,672
81
1401
86
(1171
1,682
Falr v81ue of plan assets at start of period
Interest income
Losses I gains on plan assets
Employer conlribulions
Benefits paSd and expenses
Fair value of plan assots at •nd of period
econciliatlon
nln
and cl In
balanco8 of thè falr valu0 of lan ass
Expenses
Nel interest expense
Defined benefit costs recognised in Ststement of Financial Activitles
15
17
18
D•fined benefit costs reco
nised In Statem
fFln
iviti•s
Experience on plan assets (excluding amounts Sncluded In net Inlergst cost) -
gain Ilossl
Gains and losses arlsing on the plan Ilabilities gain (loss)
Effects of changes in the demographic assumptions underfying the present
value of the defined benefit obligalion gain (loss}
Effects of change5 In the flnanclal a55umplions und8dying the present value of
the defined benefit obllgauon - gain {loss}
Total aeluar181 gains and loss&s (before restrlclSon due lo some of the surplus
not being recognisable}- gain Ilossl
{76}
140}
{104)
127)
32
167
(161
{511
Total amount ra¢¢gnls•d In Other Compr•henslve Income- galn {lo$sl
151)
27

HAIG HOUSING TRUST
{A Company Ilmltod by guarante8
Nots8 to th• flnanclal 8tatement8
2025
(£OOO$l
2024
I£OOOsl
Global Equity
185
168
Absolute Retum
66
Distressed Opportunltles
59
Credit Relative Value
55
Altemative Risk Prem
53
Liquid Alematives
Emerging Markets Debt
306
22
Flsk Sharing
98
Propety
68
Insurance linked securities
Infrastructure
170
Private Debt
Opportunistic Illiquid Credtt
Private Credit
Credit
Investment Grade Credll
202
83
51
Opportunistic Credit
Cash
22
33
Private Equity
Currenw Hedgin9
Real Assgts
11)
197
Long Lease Property
Secured Income
28
Liability Driven Invesknent
685
Nel Current Assets
Total assgts
1,682
None of the fair valu95 of the assets shown above include any direct investrnents in the employefs
financial instruments or any propety occupied by. or other assets used by the employer.
Key Assumpllons
2025
%per
annum
2024
%per
¥nnum
4.86%
3.200
2.75Yo
Discount Rale
Inflation {RPII
Inflation {CPII
5.68%
3.14%
3.75%
28

HAIG HOUSING TRUST
IA company Ilmlted by guarantèe)
Note$ to tho financlal statemonts
Salary Growth
3.75%
75% of
maxlmum
811¢)wance
3.75%
75% of
maxirnum
allowance
Allowance for commutauon of pension for cash al rellremenl
Lll• expectancy
at ag• 65
Male retiring in 2025
Female retiring Sn 2025
Male retiring in 2045
Female retiring in 2045
20.5
23.0
21.7
24.5
Oporating18ases- Lossor
Propert￿$ owned by Halg Housing Trust are oGwpied urn18r v8ri0US t8n8ncy agreemenfs. Th
committ8drental income g8ner8ted underthesg agreements ov9r thg ngxt 12 monlhs is estimated lo be
£563.000 {2024 £513.0001.
The Charity had no commitments under non<ancellable operating lea￿ al 31 March 2025
23. Relatgd party transaetlons
There have been no relaled party transaclions that require disclosure.
Llnked charhles and subsldlarfe8
Disabled Officer Garden Homès, Mitdwll Flats and Clevedon Homes have In tho past been subled to a
uniting directlon granted by Charity Comfflission schemes. The objects of the linked charities below are
generally the provision of houslng accommodation for people in need, hardship or distress with prefeience
given lo ex-servi￿ men and women and other charitable purposes for the bgnefil of the residents as the
Iruslees shall decide. However, in respect of Disabled Officer Garden Homes IDOGHI accommodalion 1$
for disabled fomier officers who are married or in a relatlonship analogous to marriage.
In addition, the Trust holds all allotted shares In Halg Housing TradSng LlmSled {fomierfy Coming Home
Campaign Limited. name changed on 11 June 20191, a limlled company Ir8gistgred in England and Wales
093316801 that carrie5 Out trading aclwities on behalf of the ch8rfty. This entity was domiant for the year
ended 31 March 2025
A summary of the results of each, whlch are Included In these Flnanclal Statsments, arg shown below.-
Mitchell
Flats
£'ooo
Clevedon
Homes
£'ooo
DOGH
£'ooo
Income
Expendibjre
136
12341
16
1651
15
{25)
(Deficlll I Surplus
198)
(49)
11Q>
Nel assets
566
{92)
530
29

HAIG HOUSING TRUST
(A company limitgd by guaranWI
Notes to the financlal 8tatemonts
25.
Slatemont of FlnanGial Activitio$- Comparativgs
Endowment
funds
2024
£000
Restrlcted Uniestrfcted
funds
funds
2024
2024
£000
£000
Total
funds
2024
£Doo
Total
funds
2023
Not•
Incomg from:
Donauons and legacles
23
Charitable activities
Grants
257
11,309
1313
11.566
1313
10.796
Profil on sale of assets
881
881
874
Invesknents
750
754
314
Other Income
Total Income and
endowments
13
13
37
14
Expendlture on:
Raislng fuThJs
Charitable actlvllSes
92
19,622
92
20.069
47
13,659
14
433
Total expenditur•
14
Net gainsl{lossesl on
investments
Net movement In
fvnds bofore oth9r
rocognlsed galns
Actuarial Ilossesl on
defined benefit penslon
schemes
Transfers befvleen
funds
Not mov•mtnt in
funds
Raconciliation of
funds:
Total funds brought
fO￿ard
382
{246)
14
174
(51)
(51)
139)
539
19.906
67.885
88.330
90.277
Nel movement in funds
Total fvnds urri•d
forward
1141
11741
15,107)
15,295)
11,947)
The Stalemenl of Financial Activities includes all gains 8nd losses recognised in the year.
v7.7
30