REGISTERED COMPANY NUMBER: 06874789 (England and Wales)

REGISTERED CHARITY NUMBER: 1129588

Report of the Trustees and

Financial Statements

for the Year Ended 31 March 2026

for

Bosco Society Ltd

Page

Report of the Trustees

1

to

7

Report of the Independent Auditors

8

to

10

Statement of Financial Activities

11

Balance Sheet

12

to

13

Cash Flow Statement

14

Notes to the Cash Flow Statement

15

Notes to the Financial Statements

16

to

22

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 March 2026. 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).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The governance Memorandum of Bosco Society Limited sets its Objects:

The Objects of the Charity are for the public benefit to promote any charitable purpose for the benefit of persons resident in the Liverpool City Region and include, but are not limited to:

(a) the provision of charitable social and supported housing and any other activities connected with or incidental to the provision of housing, social housing and supported accommodation;

(b) the advancement of education and support to move service users towards independent living;

(c) the furtherance of good health and physical and mental wellbeing;

(d) the relief of poverty, distress and sickness.

The overall aim is to help individuals recover and move towards permanent independent living.

Bosco Society Limited aims to achieve its objectives through the provision of three main services, including:

-

12 semi-independent self-contained flats spread across six properties we own in the local community.

-

-We also manage a shared house we lease, where three residents can be accommodated with Floating Support services in place.

-

A further 29 bedspaces are available at our two 24-hour hostels, which have 24-hour support staff in place. In addition, within the hostels we provide five Emergency beds, aimed at helping remove people rough sleeping from the streets.

In addition to the support provided to individuals in the above schemes, we also provide Floating/Outreach support to a refugee family who have been accommodated and settled in a family house we acquired in the local community as part of a lapsed contract with Sefton Council, under the previous UK wide response to the humanitarian crisis in Syria.

During 2025-26 the Trustee Board undertook a strategic review exercise, from which the Board adopted (in March 2026) a new Purpose Statement to compliment it's Memorandum Objects:

Purpose Statement

Mission

Empowering people experiencing homelessness to transform their lives and live independently.

Aims

We are a charity that provides good quality supported accommodation to promote independent living by facilitating positive lifestyle changes with our residents.

We aim to provide our staff with excellent conditions of service, training and development opportunities to enhance their ability to deliver an excellent service to our residents.

Vision

We will demonstrate continuous improvement in our delivery of excellent services to people experiencing homelessness while always being aware of and responding to changes within the homeless sector.

Objectives

-

To provide a safe home where everyone can feel welcomed, valued and respected.

-

To provide quality, person-centred support aimed at empowering residents to make choices in all aspects of their lives.

-

To enable residents to take control of their lives by exercising their rights and accepting their responsibilities.

-

To work in partnership with residents and other service providers in building their skills to live independently

o assist residents to access opportunities to gain educational, leisure, training and vocational experiences.

-

To support all our residents in managing any issues with physical and mental health, and substance misuse.

-

To assist residents to manage their finances appropriately.

Our Values

We are committed to:

-

Promoting equality of opportunity for all residents, staff and volunteers irrespective of race, religion, sexuality, ethnicity or social background.

-

Treating everyone with dignity and respect.

-

Valuing the views of residents and facilitating involvement in all aspects of service delivery.

-

Valuing our staff.

-

Promoting fairness and freedom for all.

-

Ensuring honesty, truthfulness, integrity and empathy are an integral part of the service we provide.

-

Being compassionate and non-judgemental in all interactions with residents.

Public benefit

In setting our objectives and planning our activities the trustees have given careful consideration to the Charity Commission's guidance on public benefit.

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

Provision of Accommodation.

There are 12 flats located in the wider local community, with 99.5% occupancy achieved during 2025-26.

We also manage a three-bedroomed shared house in Seaforth, with 96% occupancy over the year. The tenants here are supported by an Outreach worker.

Our hostels are located at:

Bosco House, 59-61 Merton Road, Bootle, Merseyside L20 7AP

Bosco Lodge, 153 Stanley Road, Bootle, Merseyside L20 3QG

We have 14 rooms at Bosco House and 15 rooms at Bosco Lodge, both based in Bootle, Liverpool. Occupancy levels in the House were 99% and in the Lodge 98.5% over the year. All rooms have now had major refurbishment completed.

Individuals residing at the hostels may move into one of the semi-independent flats when they feel they are ready, and when one becomes available.

The Emergency Room service is available for rough sleepers at both facilities every night of the year. We now have three "pods" with private facilities at the House and two further beds at Bosco Lodge. Referrals are made by Sefton Council Housing Options Team or the Social Services Emergency Duty Team on-call.

We have supported 38 homeless people as new residents into our services over the past 12 months, this is low in comparison to other years as our ability to move on existing residents to permanent accommodation is difficulty mainly due to the scarcity of available social housing in the area. However, we hope this situation will improve in future as our clients have been given higher priority for rehousing in the Local Authorities (Property Pool Plus) Allocations scheme. We provided flats to 8 individuals, rooms for 12 individuals at Bosco House and 18 individuals at Bosco Lodge.

19 individuals moved from the temporary supported accommodation at Bosco House and Bosco Lodge to the semi-independent flats in the local community. This is when their journey to independent living begins.

73 individuals used the Emergency room service over the year.

We have undertaken a review of the condition of all our properties. Where needed repairs and refurbishment has been carried out on our dispersed flats.

In the Lodge and House most of the rooms have been repainted or some more extensive repairs have been needed. We are planning redecoration of all communal areas in both buildings.

The refurbishment of the office areas in the House and Lodge has been completed. This has created a much better and cohesive working environment for the staff.

Personal support services

These are provided on an individual basis with practical issues such as budgeting, paying rent, setting up utility accounts, finding employment and other aspects of managing an independent life.

We also work in partnership with many statutory, voluntary and community organisations to provide clients with a range of educational opportunities, health related services and recreational activities to enhance their life skills.

During 2025-26 the staff have been organising new social activities with the residents, this has been well received, and we have a regular walking group, which have been thoroughly enjoyed by all staff and residents. The staff are currently looking into other ideas of interest to our residents and will look to establish some new activities. The Board of Trustees have set aside £5,000 within its budget to help support these activities.

Volunteers

We have had one new volunteer in the office working alongside support staff, one who has come and work with us as a bank worker. (NB Bank workers are called upon to help cover services when there are staff absences).

The four garden volunteers are still attending to assist our employed gardener maintain the external communal area at Bosco House. Through our connections with a network of other garden projects in the area, we were included in the Royal Horticultural Societies Bootle in Bloom competition, part of the national RHS Britain in Bloom. We subsequently received a certificate from the RHS, and we were awarded 3 out of 5 stars - a great recognition from the RHS for the efforts of our volunteers. Volunteers also harvested 30 jars of honey from the beehives we keep in the garden.

We are grateful to our volunteers for giving their time so generously and helping in many ways.

Other Achievements

We have been reviewing and updating a number of our existing policies along with creating some new polices.

We have procured a new HR & HS support service, and we are working well with the new company, which we feel has been beneficial (and cost effective) for the organisation and staff.

We have a new telephone contract in place for Bosco House and our Shared House, this is with our current IT provider, which is working well.

The Council operates a Landlord Licensing scheme in Bootle, and we have completed all landlord Licence applications for the hostels and our dispersed properties.

Customer Satisfaction

At Bosco Society we value the opinions of our residents and enable them to input into the development and monitoring of key aspects of service delivery to help measure their effectiveness. We undertook a satisfaction survey among 42 residents and received 26 completed survey forms. The figures below show we are above our 85% satisfaction target in this area.

-

How satisfied are you with the quality of your accommodation? 94% satisfied

-

How satisfied are you with the level of support received from Bosco Society Ltd? 97% satisfied

-

How satisfied are you with the level of social/educational and learning opportunities? 97% satisfied

-

How satisfied are you with the overall services provided by Bosco Society Ltd? 99% satisfied

FINANCIAL REVIEW

Financial position

The charity is reporting a surplus of £65,129 for the year to 31 March 2026 (2025: £57,981). The addition to general reserves strengthens the charity's financial position, ensuring stability for growth and development.

As at 31 March 2026 total general funds of £2,285,108 (2025: £1,701,897) were held, The charity holds no restricted funds.

Reserves policy

The trustees have considered the need to maintain an appropriate level of free reserves for the charity.

The reserves policy has been developed at best to retain at least 3 months running costs. Excluding functional/capital assets of £1,638,315, the charity has access to "free" reserves of £646,793. This amount meets the requirement of the reserves policy and allows adequate flexibility of working capital should there be a delay in cash in-flows compared to cash out-flows.

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.

Recruitment and appointment of new trustees

As set out in the Articles of Association the trustees are elected by members of the charitable company attending the Annual General Meeting. The longest serving third of the trustees retire each year and are able to offer themselves for re-election.

Organisational structure

The board of trustees consists of at least 3 but not more than 8 members. The board normally meets every 6 weeks. A Manager is appointed by the trustees to manage the day to day operations of the charity. To facilitate effective operations the Manager has delegated authority, within the terms of delegation approved by the trustees, for operational matters including finance, employment, and service delivery activity.

Induction and training of new trustees

New trustees undergo an orientation day to brief them on: their legal obligations under charity and company law; the Charity Commission guidance on public benefit; the content of the Memorandum & Articles of Association; the committee & decision making process; and the business plan & financial performance of the charity. During the induction process they meet key employees and other trustees. Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role.

Related parties

Under the charities Memorandum and Articles of Association trustees may be engaged by the remaining trustees to provide goods or services to the charity provided the goods or services are actually required by the charity, the nature and level of benefit is no more than reasonable in relation to the value of the goods and services. No more than one third of trustees may have an interest in such a contract in any financial year. The trustee concerned does not form part of the quorum for that section of the trustees meeting in which the contract is discussed and/or agreed, and must be absent from the room and have no vote in the matter. All such related party transactions in the year are disclosed in the financial statements.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

06874789 (England and Wales)

Registered Charity number

1129588

Registered office

59-61 Merton Road

Bootle

Merseyside

L20 7AP

Trustees

J M De La Cruz Rodriguez

Mrs M Doyle

Mrs B Whitrow

N G Davies

Mrs S Howard (appointed 2.9.25)

J W Conalty (appointed 23.2.26)

Mrs F Mubaiwah (appointed 23.2.26)

Mrs P A Robinson (appointed 23.2.26)

Company Secretary

Ms L Boylan

Auditors

DJH Audit Limited, Statutory Auditor

Oriel House

2-8 Oriel Road

Bootle

L20 7EP

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Bosco Society Ltd for the purposes of company law) are responsible for preparing the Report of the Trustees 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. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).

Under company law the 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those 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;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

-	there is no relevant audit information of which the charitable company's auditors are unaware; and

-	the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

Approved by order of the board of trustees on 20 October 2026 and signed on its behalf by:

Mrs S Howard - Trustee

Opinion

We have audited the financial statements of Bosco Society Ltd (the 'charitable company') for the year ended 31 March 2026 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the charitable company's affairs as at 31 March 2026 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

-	the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or

-	the charitable company has not kept adequate accounting records; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

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

The objectives of our audit are to identify and assess the risks of material misstatement of the financial statements due to fraud or error; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud or error; and to respond appropriately to those risks.

Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK).

In identifying and assessing risk of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

We obtained an understanding of the legal and regulatory frameworks applicable to the charitable company, and the sector in which it operates. We determined that the following laws and regulations were most significant: the Companies Act 2006, Charity Act 2011, UK employment laws, Safeguarding Vulnerable Groups Act 2006, UK health and safety regulations and Housing Act 2004..

We obtained an understanding of how the charity is complying with those legal and regulatory frameworks by making enquiries of management, reviewing the board meeting minutes, reviewing the charity's accident book, reviewing the schedule of any ongoing and potential claims against the charity.

We assessed the susceptibility of the charity's financial statements to materiality misstatement, including how fraud might occur. Audit procedures performed by the audit engagement team included:

-

identifying the controls that management has in place to prevent and detect fraud;

-

challenging assumptions and judgements made by management in its significant accounting estimates;

-

auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business;

-

assessing the extent of compliance with the relevant laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Use of our report

This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

for and on behalf of DJH Audit Limited, Statutory Auditor

Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006

Oriel House

2-8 Oriel Road

Bootle

L20 7EP

20 October 2026

31.3.26

31.3.25

Unrestricted

Restricted

Total

Total

funds

funds

funds

funds

Notes

£

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

2

778

-

778

421

Charitable activities

4

Independent living for supported recovery

1,118,798

-

1,118,798

1,070,455

Investment income

3

3,065

-

3,065

4,762

Total

1,122,641

-

1,122,641

1,075,638

EXPENDITURE ON

Charitable activities

5

Independent living for supported recovery

1,057,512

-

1,057,512

1,017,657

NET INCOME

65,129

-

65,129

57,981

Other recognised gains/(losses)

Gains on revaluation of fixed assets

518,082

-

518,082

-

Net movement in funds

583,211

-

583,211

57,981

RECONCILIATION OF FUNDS

Total funds brought forward

1,701,897

-

1,701,897

1,643,916

TOTAL FUNDS CARRIED FORWARD

2,285,108

-

2,285,108

1,701,897

31.3.26

31.3.25

Unrestricted

Restricted

Total

Total

funds

funds

funds

funds

Notes

£

£

£

£

FIXED ASSETS

Tangible assets

12

1,638,315

-

1,638,315

1,116,975

CURRENT ASSETS

Debtors

13

29,097

-

29,097

57,431

Cash at bank and in hand

904,653

-

904,653

823,377

933,750

-

933,750

880,808

CREDITORS

Amounts falling due within one year

14

(286,957

)

-

(286,957

)

(295,886

)

NET CURRENT ASSETS

646,793

-

646,793

584,922

TOTAL ASSETS LESS CURRENT LIABILITIES

2,285,108

-

2,285,108

1,701,897

NET ASSETS

2,285,108

-

2,285,108

1,701,897

FUNDS

16

Unrestricted funds

2,285,108

1,701,897

TOTAL FUNDS

2,285,108

1,701,897

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not deposited notice, pursuant to Section 476 of the Companies Act 2006 requiring an audit of these financial statements.

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.

These financial statements have been audited under the requirements of Section 145 of the Charities Act 2011.

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 20 October 2026 and were signed on its behalf by:

S Howard - Trustee

Cash flows from operating activities

Cash generated from operations

1

122,591

88,400

Interest paid

-

(11,338

)

Net cash provided by operating activities

122,591

77,062

Cash flows from investing activities

Purchase of tangible fixed assets

(44,380

)

(6,469

)

Interest received

3,065

4,762

Net cash used in investing activities

(41,315

)

(1,707

)

Cash flows from financing activities

Loan repaid in year

-

(105,199

)

Net cash provided by/(used in) financing activities

-

(105,199

)

Change in cash and cash equivalents in the reporting period

81,276

(29,844

)

Cash and cash equivalents at the beginning of the reporting period

823,377

853,221

Cash and cash equivalents at the end of the reporting period

904,653

823,377

1.	RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

31.3.26

31.3.25

£

£

Net income for the reporting period (as per the Statement of Financial Activities)

65,129

57,981

Adjustments for:

Depreciation charges

15,469

15,745

Loss on disposal of fixed assets

25,653

15,252

Interest received

(3,065

)

(4,762

)

Interest paid

-

11,338

Decrease/(increase) in debtors

28,334

(22,192

)

(Decrease)/increase in creditors

(8,929

)

15,038

Net cash provided by operations

122,591

88,400

2.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.25

Cash flow

At 31.3.26

£

£

£

Net cash

Cash at bank and in hand

823,377

81,276

904,653

823,377

81,276

904,653

Total

823,377

81,276

904,653

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, as modified by the revaluation of certain assets.

Changes in accounting policies

Freehold property, previously recognised at historical cost will be recognised at market value following a full formal valuation. The trustees considered a market valuation represented a far more reliable and relevant valuation basis.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on reducing balance

Computer equipment

-

20% on reducing balance

Fixed Assets

Recognised at historic cost and depreciated over their expected useful life.

Freehold properties

The charity adopted and follows the fair value revaulation model.

Depreciation will be charged where it is considered market value falls below estimated residual value.

Revaluation reviews are carried out with sufficient regularity to ensure the carrying value and residual values remain valid and correctly stated.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

2.	DONATIONS AND LEGACIES

31.3.26

31.3.25

£

£

Donations

198

421

Student Placement Income

580

-

778

421

3.	INVESTMENT INCOME

31.3.26

31.3.25

£

£

Deposit account interest

3,065

4,762

4.	INCOME FROM CHARITABLE ACTIVITIES

31.3.26

31.3.25

Activity

£

£

Rents receivable

Independent living for supported recovery

837,735

791,759

Housing support

Independent living for supported recovery

246,103

238,389

Syrian resettlement

Independent living for supported recovery

-

7,015

Rough sleeper & crash bed income

Independent living for supported recovery

34,960

33,292

1,118,798

1,070,455

5.	CHARITABLE ACTIVITIES COSTS

Support

Direct

costs (see

Costs

note 6)

Totals

£

£

£

Independent living for supported recovery

1,049,352

8,160

1,057,512

6.	SUPPORT COSTS

Governance

costs

£

Independent living for supported recovery

8,160

7.	NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

31.3.26

31.3.25

£

£

Depreciation - owned assets

15,469

15,745

Hire of plant and machinery

5,067

3,344

Other operating leases

94,392

95,823

Deficit on disposal of fixed assets

202

15,252

8.	AUDITORS' REMUNERATION

31.3.26

31.3.25

£

£

Fees payable to the charity's auditors for the audit of the charity's financial statements

8,160

6,600

9.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2026 nor for the year ended 31 March 2025.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2026 nor for the year ended 31 March 2025.

10.	STAFF COSTS

31.3.26

31.3.25

£

£

Wages and salaries

601,411

607,975

Social security costs

41,481

50,364

Other pension costs

10,343

10,634

653,235

668,973

The average monthly number of employees during the year was as follows:

31.3.26

31.3.25

Charitable activity staff

24

24

No employees received emoluments in excess of £60,000.

11.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

Restricted

Total

funds

funds

funds

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

421

-

421

Charitable activities

Independent living for supported recovery

1,070,455

-

1,070,455

Investment income

4,762

-

4,762

Total

1,075,638

-

1,075,638

EXPENDITURE ON

Charitable activities

Independent living for supported recovery

1,017,657

-

1,017,657

NET INCOME

57,981

-

57,981

RECONCILIATION OF FUNDS

Total funds brought forward

1,643,916

-

1,643,916

TOTAL FUNDS CARRIED FORWARD

1,701,897

-

1,701,897