HOMELESS ACTION RESOURCE PROJECT
Financial health, per its FY2023 accounts
The accounts state that the charity reported an overall deficit of £491,930 for the year, driven by a £724,110 write-down on the revaluation of its property portfolio, despite an operating surplus of £232,180. Free reserves stood at £206,724, representing approximately two weeks of expenditure, which the trustees note is below their aim to build up levels over time due to rising homelessness and investment needs. The charity relies heavily on housing income and grants, with significant long-term borrowing secured against its property assets.
What the accounts disclose
“This represents approximately two weeks' of expenditure (2021/22: seven weeks). The Trustees' aim is to build up the level of free reserves over time, but this remains a challenge due to the continued rise in homelessness and the Charity's need to continue to invest most of its funds each year into combatting that.” — page 7
Structured financials (annual return, FY ending 31/03/2025)
Register events
- Received assets from another charity (08/07/2024)
- Received assets from another charity (24/11/2021)
Trustees
- Michael Raffanchair
- Alexander Brown
- Ann Clark
- Helen McDonald
- Iain Campbell
- Ian Martin
- Joanne Tierney
- LILIAS DAVIDSON FELTON
- Michael Eric Nevin
- PETER NIGEL THORN
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/03/2025 | £10.2m | £9.5m |
| 31/03/2024 | £9.1m | £7.6m |
| 31/03/2023 | £6.1m | £5.8m |
| 31/03/2022 | £4.9m | £4.9m |
| 31/03/2021 | £5.7m | £4.5m |
Common questions
Is HOMELESS ACTION RESOURCE PROJECT financially healthy?
The accounts state that the charity reported an overall deficit of £491,930 for the year, driven by a £724,110 write-down on the revaluation of its property portfolio, despite an operating surplus of £232,180. Free reserves stood at £206,724, representing approximately two weeks of expenditure, which the trustees note is below their aim to build up levels over time due to rising homelessness and investment needs. The charity relies heavily on housing income and grants, with significant long-term borrowing secured against its property assets. Its FY2023 accounts were audited by Edmund Carr LLP.