The trustees present their annual report and financial statements for the year ended 31 March 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's [governing document], the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).
The objects are specifically restricted to the promotion, preservation and protection of the good physical and mental well-being of women, including (but not limited to) providing social housing.
We have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing our aim and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.
Chairs Report
Over the course of 2024-25 we assisted six women and twelve children through provision of secure, supported homes.
The executive team successfully secured significant additional funding from grants and social loans during this period, raising the capital to purchase more properties. Whilst taking on loans carries risk, the board agreed that loans were key to the growth of WomenCentre Homes and to moving towards financial sustainability.
The new relationships with social loan funders provide the opportunity of housing growth in the short term and the confidence to develop a new strategy for the longer term. The Board and senior team have developed a new strategy and updated our vision : “Our vision is for women to have a safe and secure home”. This new strategy includes a reserves policy aimed at building organisational reserves. Additionally, WomenCentre Homes also rebranded and launched a new website. https://womencentrehomes.com/
Risk and safeguarding continue to be key priorities for the Board of Trustees. These are reviewed at each meeting, enabling any emerging issues to be managed appropriately and in a timely manner to mitigate escalation. The Board has also reviewed and signed off key policies throughout the year.
New Trustees were welcomed to the Board, which now has a wide ranging, relevant skill set, each Trustee bringing their own expertise and knowledge.
We would like to thank our efficient, compassionate and committed executive team without whose tireless efforts, none of this year’s achievements would have been possible. A special thankyou is also due to WomenCentre staff and board for their ongoing support.
Sam Roberts and Maggie Smallwood Co-chairs
CEO and Housing Development Manager’s Report
Thanks to ongoing revenue funding from The National Lottery Community Fund (TNLCF), the position of Housing Development Manager has remained secure, enabling us to develop long-term partnerships with large-scale social impact investment funders during 2024-2025.
We successfully achieved our top priority of securing blended social finance a combination of capital investment loans/grants of £75,000 from Key Fund and £150,000 from the Thrive Together Fund. This funding, combined with existing capital investments from our partners—Tudor Trust, LandAid, and Albert Hunt Trust—will expand our housing portfolio by three properties next year.
During this period, the Lottery Awards for All awarded WomenCentre Homes revenue funding of £18,951 over 3 years. This funding has enabled us to develop our support model, which now includes pre-tenancy support for women on the waiting list for our homes, and to explore opportunities to share the WomenCentre Homes support model.
We were successful in being awarded £3,000 from the Landsec Futures Community Grants Program, to contribute to our organisational reserves in line with our new strategy and reserves policy.
The WomenCentre Homes team has been responding to the financial vulnerabilities identified by the outcome monitoring data for the women and children we support. We have been assisting each family in their recovery from financial debt including food, clothing and energy vouchers. We were also pleased to have been able to secure 15 Vodafone SIM cards, which come preloaded with data, calls, and texts, these were issued to tenants, giving improved access to social networks and support for the families in our homes.
Future Priorities 2025-2026
WomenCentre Homes aims to further develop this year’s existing priorities to:
• Grow our housing portfolio by purchasing three properties
• Continue developing the WomenCentre Homes Strategic Plan
• Investigate opportunities to share the WomenCentre Homes support model
Other priorities include:
• Developing a Tenant Move on Strategy
• Developing a moving forward recovery plan with future applicants
Angela Everson (CEO) and Cathy Wheatcroft (Housing Development Manager)
The Board of Trustees has developed a reserves policy in line with guidance from The Charity Commission. The principal funding sources are rental income from properties (primarily from housing benefit) and grants from charitable trusts.
At March 2025, unrestricted funds stand at £15,040 (2024: £8,767). In the year 23-24, the board recognised that it will take time to build this contingency fund and has set a target of £20,000 to be reached over the following 4 years. The Board will continue to review this annually in conjunction with the risk register in case any changes are needed.
As at 31 March 2025, the contingency fund stands at £5,000.
The next few years will be instrumental in the scheme's growth to continue developmental momentum and build upon the number of properties to reach a point of financial self-sustainability. The national economic picture of high interest rates and a slow housing market has meant that our growth trajectory is slower than anticipated but we remain committed to responsible long-term growth.
Our long term aim is to grow our portfolio by considering a range of investment options, giving us comfort to:
Fulfil the demand for housing with support for our service users; and
Become sustainable and non-reliant on grant funding
Future Priorities 2025-2026
WomenCentre Homes aims to further develop this year’s existing priorities to:
• Grow our housing portfolio by purchasing three properties
• Continue developing the WomenCentre Homes Strategic Plan
• Investigate opportunities to share the WomenCentre Homes support model
Other priorities include:
• Developing a Tenant Move on Strategy
• Developing a moving forward recovery plan with future applicants
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.
The charitable company was registered with Companies House, registered number 12445679, on 6 February 2020.
It is controlled by its Memorandum and Articles of Association, dated 6 February 2020 and constitutes a limited company, limited by guarantee.
The charity was registered with the Charity Commission, registered number 1189204, on 24 April 2020.
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:
Liability of members
The liability of members is limited.
The trustees' report was approved by the Board of Trustees.
The trustees, who are also the directors of Womencentre Homes for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
In preparing these financial statements, the trustees are required to:
- 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; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity 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 charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
I report to the trustees on my examination of the financial statements of Womencentre Homes (the charity) for the year ended 31 March 2025.
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
Womencentre Homes is a private company limited by guarantee incorporated in England and Wales. The registered office is 23, Silver Street, Halifax, West Yorkshire, HX1 1JN, United Kingdom.
The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Cash donations are recognised on receipt. Other donations are recognised once the charity 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.
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.
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.
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Grants received
Rent income
Repairs and maintenance
Computer repairs and maintenance
Affiliation fees and subs
Subcontractors and consultants
Management charges
Overhead charges
Rent
Insurance
Staff travel and expenses
Website and telephone expenses
Publicity and promotion
Interest payable
There were no trustees' remuneration or other benefits for the year ended 31st March 2025 nor for the year ended 31st March 2024.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31st March 2025 nor for the year ended 31st March 2024.
Womencentre Homes has 0 employees. All staff who work for Womencentre Homes are employed by Womencentre and their salary costs are recharged to Womencentre Homes.
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
The operating leases represent leases entered into with Halifax Opportunities Trust. The leases are negotiated over terms of 10 years from 1st of January 2024 to 31st December 2034 and rentals are fixed for 10 years.
At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
Two of the trustees of WomenCentre Homes Limited are also trustees of WomenCentre Limited . These two trustees do not control either company, nor does WomenCentre Limited control WomenCentre Homes.
During the year, WomenCentre Homes Limited was rechargeed staff salaries amounting to £76,066 (2024 £65,235). This has been included in WomenCentre Limited's management charge in current year (2024: net off staff costs).
The following amounts were outstanding at the reporting end date £28,525 (2024: £21,883)