REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 31 January 2024 |
for |
Home Safe Housing |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 31 January 2024 |
for |
Home Safe Housing |
Home Safe Housing |
Contents of the Financial Statements |
for the Year Ended 31 January 2024 |
Page |
Chairman's Report | 1 |
Report of the Trustees | 2 |
Statement of Financial Activities | 3 |
Balance Sheet | 4 | to | 5 |
Notes to the Financial Statements | 6 | to | 8 |
Home Safe Housing |
Chairman's Report |
for the Year Ended 31 January 2024 |
Proper Homes at Affordable Rents |
Home Safe Housing is a registered company and charity that exists to help alleviate homelessness in England. It works exclusively with Local Authorities across the Country to provide good quality homes that can be occupied at affordable rents. |
Home Safe Housing buys and builds residential properties across England, refurbishes them to Decent Homes Standards, and then fully fits them out, down to cutlery, towels and bedding. It then lets the homes at affordable rents to people with a housing need through its partner local authorities. |
For Local Authorities, HSH can work with them to deliver hundreds of properties for residents all to Decent Homes standards and let at Local Housing Allowance Rates - and at no cost to the Council. HSH buys homes from developers (which can satisfy s106 requirements) and portfolios of houses from investors looking to move to different investment areas. |
At present, HSH operates across London and the Home Counties, acquiring and refurbishing homes before providing them to social tenants. |
HSH signed a partnership agreement with Capital Letters (London) Limited in March 2024 to provide some 2,500 homes under long lease to the subsidiary of 10 London Local Authorities, marking a major step change in the delivery of proper housing. HSH is working with funders to raise £750m for the delivery of those homes. |
Home Safe Housing (Registered number: 04651697) |
Report of the Trustees |
for the Year Ended 31 January 2024 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 January 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
Company Secretary |
Approved by order of the board of trustees on |
Home Safe Housing |
Statement of Financial Activities |
for the Year Ended 31 January 2024 |
31.1.24 | 31.1.23 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
EXPENDITURE ON |
Other |
NET INCOME/(EXPENDITURE) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | ( |
) | - |
Home Safe Housing (Registered number: 04651697) |
Balance Sheet |
31 January 2024 |
31.1.24 | 31.1.23 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 4 | ( |
) |
NET CURRENT ASSETS/(LIABILITIES) |
( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
NET ASSETS | ( |
) |
FUNDS | 5 |
Unrestricted funds | ( |
) | - |
TOTAL FUNDS | ( |
) | - |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006. |
The trustees acknowledge their responsibilities for |
(a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
Home Safe Housing (Registered number: 04651697) |
Balance Sheet - continued |
31 January 2024 |
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
Home Safe Housing |
Notes to the Financial Statements |
for the Year Ended 31 January 2024 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
Income |
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. |
Expenditure |
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
Fund accounting |
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. |
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
Home Safe Housing |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2024 |
2. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 January 2024 nor for the year ended 31 January 2023. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 January 2024 nor for the year ended 31 January 2023. |
3. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Total |
funds |
£ |
NET INCOME |
TOTAL FUNDS CARRIED FORWARD |
- |
4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.24 | 31.1.23 |
£ | £ |
Other creditors |
5. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.2.23 | in funds | 31.1.24 |
£ | £ | £ |
Unrestricted funds |
General fund | - | (253 | ) | (253 | ) |
TOTAL FUNDS | (253 | ) | (253 | ) |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 1 | (254 | ) | (253 | ) |
TOTAL FUNDS | ( |
) | (253 | ) |
Home Safe Housing |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2024 |
5. | MOVEMENT IN FUNDS - continued |
6. | RELATED PARTY DISCLOSURES |
£300 was loaned to Home Safe Housing Ltd during the year by UK Structured Finance Holdings Ltd (CRN: 05343985). Mr Jared Fox, a Trustee, is a majority shareholder and director in UK Structureed Finance Holdings Ltd |