``` REGISTERED COMPANY NUMBER: 02550488 (England and Wales) REGISTERED CHARITY NUMBER: 1001923 ``` ``` Report of the Trustees and ``` ``` Financial Statements for the Year Ended 31 March 2025 ``` ``` for ``` ``` East Cheshire Housing Consortium Limited ``` ``` Harts Limited Chartered Accountants and Statutory Auditors Westminster House 10 Westminster Road Macclesfield Cheshire SK10 1BX ``` ``` East Cheshire Housing Consortium Limited ``` ## **`Contents of the Financial Statements for the Year Ended 31 March 2025`** |||**`Page`**|| |---|---|---|---| |**`Report of the Trustees`**|`1`|`to`|`8`| |**`Report of the Independent Auditors`**|`9`|`to`|`12`| |**`Statement of Financial Activities`**||`13`|| |**`Balance Sheet`**||`14`|| |**`Cash Flow Statement`**||`15`|| |**`Notes to the Cash Flow Statement`**||`16`|| |**`Notes to the Financial Statements`**|`17`|`to`|`27`| |**`Detailed Statement of Financial Activities`**|`28`|`to`|`29`| ``` East Cheshire Housing Consortium Limited ``` ## **`Report of the Trustees for the Year Ended 31 March 2025`** ``` ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,presenttheirreport with thefinancialstatementsofthecharityfortheyearended31March2025.Thetrusteeshaveadoptedtheprovisions of AccountingandReportingbyCharities:StatementofRecommendedPracticeapplicabletocharitiespreparing their accountsinaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS 102) (effective 1 January 2019). ``` ## **`OBJECTIVES AND ACTIVITIES`** ## **`Objectives and aims`** ``` EastCheshireHousingConsortiumexiststoprovidesupportedaccommodationforpeoplewithmentalhealth support needsandbelievethatthosewholiveinsupportedlivingshoulddosowithdignity,thattheyshouldhavetherespect of thosewhosupportthem;shouldlivewithnoreductionoftheirrightsascitizens(exceptwherethelawsoprescribes); and should be entitled to live as full and active a life as their physical and mental condition will allow. ``` ``` TheobjectiveoftheCharityistopromoteanycharitablepurposeforthepublicbenefitofpersonswithprimarily mental healthsupportneeds,whichmayincludeneurodiversity,toobtainthemostappropriateformsofhousingwith the necessary support to meet their individual needs. ``` ``` In respect the Trustees have had regard to the Charity's Commissions guidance in "Public Benefit". ``` ``` InordertoachievetheabovetheCharityliaiseswithnationallocalauthorities,SocialServices,theNHSand housing providers to create appropriate housing, and provides support staffing for such developments and individuals. ``` ## **`Key Strategies Used to Achieve Objectives`** ``` To achieve its charitable objectives, the Charity: ``` - `Maintains strong partnerships with national local authorities, Social Services, the NHS and housing providers to identify` - `and develop suitable accommodation opportunities;` - `Delivers person-centred support services designed to meet the individual needs of service users;` - `Partners with Registered Social Landlords to provide high quality supported living accommodation;` - `Monitors service quality, occupancy levels and outcomes for service users to ensure resources are used effectively; and` - `Works proactively with commissioners and stakeholders to identify future housing and support needs across the region.` ## **`Short-Term Objectives`** ``` During the next 12 months, the Charity aims to: ``` - `Maintain high-quality support services across all schemes;` - `Minimise property voids and maximise occupancy levels;` - `Successfully embed and stabilise recently opened developments;` - `Continue to strengthen financial resilience and maintain appropriate reserves;` - `Ensure compliance with all regulatory, contractual and governance requirements; and` - `Continue to ongoing development of staff, including training and onboarding.` ## **`Longer-Term Objectives`** ``` Over the next three to five years, the Charity aims to: ``` - `Expand the availability of supported accommodation across Cheshire` - `Develop sustainable partnerships with housing providers and commissioners;` - `Increase the availability of support services to meet local demand;` - `Improve outcomes for service users by promoting independence, stability and community participation;` - `Maintain a financially sustainable organisation capable of responding to changing local needs and opportunities; and` - `Explore grant and funding opportunities to further enhance staff training.` ## **`Linking Short-Term and Long-Term Objectives`** ``` TheCharity'sannualobjectivesaredesignedtosupportitslonger-termambitionofincreasingtheavailability of high-qualitysupportedaccommodationwhileensuringtheorganisationremainsfinanciallyresilientandabletomeet the changing needs of beneficiaries. ``` ``` Page 1 ``` ``` East Cheshire Housing Consortium Limited ``` ## **`Report of the Trustees for the Year Ended 31 March 2025`** ## **`OBJECTIVES AND ACTIVITIES`** ## **`Public benefit`** ``` TheCharityisapublicbenefitentity.Thetrusteesconfirmthattheyhavecompliedwiththerequirementsofsection17 of theCharitiesact2011tohavedueregardtothepublicbenefitguidancepublishedbytheCharityCommission for England and Wales. ``` ## **`Volunteers`** ``` The were no volunteers during either current or previous year. ``` ``` Page 2 ``` ``` East Cheshire Housing Consortium Limited ``` ## **`Report of the Trustees for the Year Ended 31 March 2025`** ## **`ACHIEVEMENTS AND PERFORMANCE`** ``` TheCharityhascontinuedtoachieveitsgoalsthroughouttheyearandwillcontinuetoliaisewithLocal authorities, Housing Associations and other Landlords in order to ensure the continuity provision of support in the future. ``` ``` TheCharityhascontinuedtoexpanditsoperations,TheCharityopenedanewdevelopmentinHandforth,comprising of 10 1-bedroom flats. ``` ``` TheCharitypridesitselfonthequalityofitsserviceprovision,andstandardsofhousing,andmeasuresitssuccess at achieving its objectives by the increasing number of service users it is able to accommodate. ``` ## **`Measuring Success`** ``` TheSeniorLeadershipTeam(SLT)reporttheCharity'seffectivenesstotheTrusteesthrougha rangeofmeasures including occupancylevels,thenumberofindividualssupported,serviceuseroutcomes,feedbackfromcommissionersand service users,financialperformanceandcompliancewithregulatoryrequirements.DuringtheyeartheCharitycontinued to expanditscapacitythroughtheopeningofadditionalsupportedaccommodationandmaintaineditsfocuson delivering high-quality support services which promote independence and wellbeing. ``` ``` Keyperformanceareasincludesafeguarding,compliance,health&safety,levelsandhandlingofcomplaints, staffing levels & training and contractual matters. ``` ``` Duringtheyear,theCharitycontinuedtodeliverhighqualitysupportedaccommodationandsupportservicesfor people withmentalsupportneeds.Asignificantachievementwastheexpansionofaccommodationcapacitythroughthe opening ofanewdevelopmentinHandforth,comprisingtenone-bedroomflats,enablingECHCtosupportmoreindividuals within thecommunity.ThisexpansionwasadirectresultofCheshireEastCouncilsidentificationoftherequirement for enhanced,24hours,supportavailablewithself-containedhousingunitstomeetthechangingneedsofserviceusers. ClosecollaborationwithCheshireEastCouncil,includingsupportwithplanning,helpedtodeliverthisambitious addition to the available accommodation. ``` ``` TheCharityalsomaintainedstrongrelationshipswithlocalauthorities,housingprovidersandotherstakeholdersto meet growing demand for its services. ``` ``` Theyearwasnotwithoutchallenges.TheCharityexperiencedanincreaseinpropertyvoidsassociatedwiththe opening ofnewaccommodationschemes,whichhadatemporaryimpactonoccupancylevelsandfinancialperformance. In addition,adetailedreviewoftheCharity'sfinancialrecordsidentifiedanumberofhistoricaccountingerrorsrelating to previousreportingperiods,resultinginsignificantprioryearadjustmentsanddelaysinthefinalisationandfiling of statutoryaccounts.Itwasalsonecessarytourgentlyappointnewaccountantsandauditors,asthepreviousauditors had notcompliedwiththeirregulatoryobligationsthatweresatisfactorytothenewauditors.Thedelaycausedby the previousauditorsinprovidingthecorrectfinancialinformationandsupportingdocuments,causedsignificantdelayin the finalising of the accounts. This resulted in the late filings. ``` ``` TheSLTrecognisetheimportanceofmaintainingtheconfidenceofserviceusers,commissioners,regulatorsand other stakeholdersandreporttoTrusteesatbi-monthlymeetings.Therefore,uponidentificationofthesematters,the Charity actedswiftlyconsultedtotheirappointedAccountanttostrengthenitsfinancialmanagementarrangementsby appointing appropriatelyqualifiedfinancialresources,undertakingacomprehensivereviewoffinancialcontrolsand reporting procedures,andimplementingimprovementstogovernanceandoversightarrangements.Recommendationsfrom this audit will form a significant part of the ongoing continuous improvements of the financial processes. Thelessonslearnedthroughthereviewprocesshaveinformedaprogrammeofcontinuousimprovementfocused on enhancingfinancialreporting,improvingmanagementinformation,strengtheninginternalcontrolsandensuring greater resilience for the future. ``` ``` Lookingahead,theproposedtransitionoflandlordresponsibilitiestoSunnyvaleHousingAssociationisexpected to reducefinancialandoperationalrisk,improvecashflowmanagement,lessenexposuretopropertyvoidsandallow staff tofocusmoreoftheirtimeonsupportingserviceusersandimprovingoutcomes.TheTrusteesbelievethesechanges will strengthen the long-term sustainability of the Charity and enhance its ability to achieve its charitable objectives. ``` ``` Page 3 ``` ``` East Cheshire Housing Consortium Limited ``` ## **`Report of the Trustees for the Year Ended 31 March 2025`** ## **`FINANCIAL REVIEW`** ## **`Financial position`** ``` TheTrusteesattempttomaintainfreereservesatalevelwhichcoversatleasttwotothreemonthsoftotal expenditure, whichisapproximately£1.24m(2024:£1.21m).Freereserves,beingthosereserveswhicharereadilyavailable without requiring the sale of fixed assets, were £171,437 at the balance sheet date (2024: £300,488). ``` ``` Duringtheyear,theCharitytookstepstostrengthenfinancialmanagementbyappointingappropriately qualified financeresourcesandundertakingareviewoffinancialcontrols,reportingproceduresandgovernance arrangements. TheresultingrecommendationsformpartoftheCharity'songoingprogrammeofcontinuousimprovement.Progress is reported to Trustees at bi-monthly meetings. ``` ``` Lookingahead,theproposedtransferoflandlordresponsibilitiestoSunnyvaleHousingAssociationisexpectedto reduce financialandoperationalrisk,improvecashflowmanagement,reduceexposuretopropertyvoidsandenablestaff to focustimeonsupportingserviceusers,improvingoutcomesanddevelopingECHC'soperations.TheTrusteesbelieve these measures will strengthen the Charity's long-term sustainability and support the rebuilding of reserves over time. ``` ``` Surplusfundsareinvestedinlowrisk,shorttomediumterm,investmentvehiclesinlinewiththeaboveobjectives,so that flexibilityismaintainedinordertoensuretheCharityiscapableoftakingadvantageoftheavailabilityof suitable properties as and when they arise. ``` ``` DuringthepreparationofthefinancialstatementsandaspartofacomprehensivereviewoftheCharity's financial reportingprocesses,anumberofhistoricaccountingerrorsrelatingtopriorperiodswereidentified.These primarily relatedtothetreatmentofleaseholdimprovements,therecognitionofprepaymentsandaccruedincome,and the recoverability of aged trade debtors. ``` ``` TheSLTactedpromptlyuponidentifyingthesematters,undertakingadetailedreviewoftheCharity'sfinancial records andfinancialcontrols,andappointingadditionalappropriatelyqualifiedprofessionalresourcestosupport the restatementprocess.Asaresult,prioryearadjustmentshavebeenrecognisedwithinthesefinancialstatementsto ensure compliance with FRS 102 and the Charities SORP. ``` ``` TheTrusteesacknowledgethattheidentificationandcorrectionofthesematterscontributedtodelaysinthe completion andfilingoftheCharity'sstatutoryaccounts.Whilstregrettable,theSLTconsidereditessentialthatsufficienttime was takentoensurethatthefinancialstatementsprovideatrueandfairviewoftheCharity'sfinancialpositionand are supported by robust evidence and appropriate professional review. ``` ``` Followingthereview,anumberofimprovementshavebeenimplementedtostrengthenfinancialgovernance, enhance financialoversightandimprovethequalityandtimelinessoffinancialreporting.TheSLTaresatisfiedthat appropriate arrangements are now in place to support the continued effective stewardship of the Charity's resources. ``` ## **`Financial review for the year`** ``` Atthebalancesheetdatethecharity'sreservesstoodat£332,424(2024:£563,298)followingprioryear corrections which resulted in a reduction to reserves of £635,110. ``` ``` Incomefortheyearwas£4,750,410(2024:£4,600,308)andexpenditurewas£4,981,284(2024: £4,829,999), resulting in a deficit in the year of £230,874 (2024: deficit of £229,691). ``` ## **`Significant Financial Events`** ``` Duringtheyear,theCharitycontinuedtoinvestinitslong-termservicecapacityandaccommodationprovision. A significantdevelopmentwastheopeningofanewsupportedhousingschemeinHandforth,comprisingten one-bedroom flats,togetherwiththecontinuedoperationanddevelopmentofDeanHouse.Theseinvestmentssupportedthe Charity's strategicobjectiveofincreasingtheavailabilityofhigh-qualitysupportedaccommodationforpeoplewithmental health support needs inline with demand and needs as identified by local authorities. ``` ``` WhilethesedevelopmentsincreasedtheCharity'scapacitytosupportbeneficiaries,theyalsocontributedto a temporaryincreaseinvoidlevelsasnewlyavailableaccommodationwasbroughtintoserviceandoccupancy levels graduallyincreased.Thisimpactedrentalincomeandcashflowduringtheperiodwhilstassociatedoperating and property costs continued to be incurred. ``` ``` Page 4 ``` ``` East Cheshire Housing Consortium Limited ``` ## **`Report of the Trustees for the Year Ended 31 March 2025`** ``` In addition,theCharityundertooka detailedreviewofitsfinancialrecordsandreportingarrangementswhichresulted in theidentificationandcorrectionofanumberofhistoricaccountingerrors.Theresultingprioryearadjustments affected thereportedvalueofleaseholdimprovements,prepaymentsandaccruedincome,andtradedebtors.Although these adjustmentsdidnotadverselyaffecttheCharity'sabilitytocontinueoperating,theyresultedinreductionsto previously reported net assets and contributed to delays in the completion and filing of the statutory financial statements. ``` ``` TheSLThavecarefullyconsideredtheimpactofthesemattersandhavetakendecisiveactiontostrengthen financial management,governanceandreportingprocesses.Additionalappropriatelyqualifiedfinancialresourceswere engaged andareviewoffinancialcontrolsandprocedureswasundertaken.TheSLTbelievetheseimprovementswillenhance the quality, accuracy and timeliness of financial reporting in future periods and provide greater assurance to stakeholders. ``` ``` Despitethesechallenges,demandfortheCharity'sservicesremainedstrongthroughouttheyearandtheSLT remain confidentthattheinvestmentsmadeinaccommodationcapacity,governanceandfinancialoversightwillsupport the Charity's long-term sustainability and ability to deliver positive outcomes for beneficiaries. ``` ## **`Principal funding sources`** ``` TheprincipalfundingsourcesfortheCharityareviacontractswithnationallocalauthorities,SocialServices,theNHS and housing provider. The Charity does not carry out fundraising activities. ``` ## **`Going concern`** ``` TheTrusteeshaveconsideredtheCharity'sabilitytocontinueasagoingconcernconsideringitsfinancial position, contractual arrangements, available reserves, operational performance and anticipated future developments. ``` ``` Duringtheyear,areviewoftheCharity'sfinancialreportingidentifiedanumberofhistoricaccountingadjustments which havebeenreflectedinthesefinancialstatements.Whilstthereviewprocesscontributedtoadelayinthefinalisation of theCharity'sstatutoryaccounts,theTrusteesaresatisfiedthatthesemattersdonotaffecttheCharity'sabilityto continue operatinganddeliveringitscharitableobjectives.TheTrusteeshavetakenappropriateactiontostrengthen financial governance, reporting processes and financial oversight arrangements. ``` ``` TheTrusteeshavealsoconsideredtheplannedtransitionoflandlordresponsibilitiestoSunnyVale Supported Accommodation.Thisdevelopmentisexpectedtoprovideanumberofoperationalandfinancialbenefits, including improvedcashflowmanagement,reducedexposuretopropertyvoidrisks,reducedadministrativeburden associated withtenancymanagement,utilities,counciltaxadministrationandpropertymaintenanceactivities,togetherwith greater clarity in the separation of landlord and support provider responsibilities. ``` ``` Thiswillallowmanagementandoperationalstafftofocusmoreoftheirtimeonsupportingserviceusers, improving serviceoutcomesandcontinuingthedevelopmentoftheCharity'ssystemsandprocesses.Thearrangementis also expectedtoreducecertainfinancialandoperationalriskscurrentlybornebytheCharityandfurther strengthen stakeholder confidence in ECHC's service provision. ``` ``` Havingconsideredthesefactors,theTrusteeshaveareasonableexpectationthattheCharityhasadequateresources to continueinoperationalexistencefortheforeseeablefuture.Accordingly,thefinancialstatementshavebeen prepared on a going concern basis. ``` ## **`Equity`** ``` TheCharitablecompanyislimitedbyguaranteewitheachmemberbeingliabletocontribute£1intheeventof a windingup.Thetrusteescomprisethemembersofthecompany.AlloftheCharity'sreservesaretobeusedfor its charitable purpose and there is not equity, or non-equity, interested parties. ``` ## **`Principal risks and uncertainties`** ``` Major risks have been reviewed and systems or procedures have been established to manage these risks. ``` ``` Page 5 ``` ``` East Cheshire Housing Consortium Limited ``` ## **`Report of the Trustees for the Year Ended 31 March 2025`** ## **`FUTURE PLANS`** ``` DemandforservicesprovidedbytheCharityremainshighandtheCharityhasoperatedwithanincreasein voidsdue to theopeningofDeanHouse.TheTrusteescontinuetomonitortherequirementsofLocalAuthoritiesandare updated bi-monthlybythemanagementteamonactivities,theyarealsomonitorthattheprovisionismeetingthe Charity's objectives. ``` ``` ECHCareindiscussionwiththeagreementofthetrusteesthattheywilllookintoapartnershipwithSunnyvale Housing Associationandexistingpartners.ThiswillenableECHCtoconcentrateonprovidingsupport.Anynewdevelopments will be commissioned through SLG and RSL. ``` ## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`** ## **`Governing document`** ``` TheCharityisgovernedbythebytheTrusteeswhoarealsothememberswhomeetonaregularbasis.Thedayto day runningisledbytheSLTwhoreporttothetrusteesatthebi-monthlymeetings.Policydecisionsareenactedby the ChiefExecutiveOfficerandstaffmembers.Individualswhoholdappropriatequalificationsorwhohavethe relevant experience,areinvitedtoofferthemselvesaspotentialTrusteesbasedontheiraffinitytotheobjectivesofthe Charity, and are elected by the existing Trustees. ``` ``` TheCharityisgovernedbyitsMemorandumandArticlesofAssociationandisincorporatedasaLimitedCompany. The member'sliabilityislimitedbyguarantee.Intheeventofthecompanybeingwoundup,membersarerequired to contribute an amount not exceeding of £1. ``` ``` EastCheshireHousingConsortiumworkswithnationallocalauthorities,SocialServices,theNHSandhousingproviders to providesuitablesupportedhousinginaccordancewiththeiraimsandobjectivesdetailedabove.Allstaff are remunerated and the charity has no reliance on unpaid volunteers. ``` ``` The Charity holds Trustee indemnity insurance for the protection of the Trustees. ``` ## **`Recruitment and appointment of new trustees`** ``` The recruitment process is led by the SLT. New Trustee appointments are made by the existing members. ``` ## **`Induction and training of new trustees`** ``` FollowingthegatheringofTrusteepersonal,relevantskillsetinformationandvettingprocessing,includingDBS checks. TheSLTforwardcopiesofminutesfromlatestAGMandBoardmeetingsandkeyinformationrequiredtocarry out Trustee duties. ``` ## **`Key management remuneration`** ``` SLTareresponsibleforthesettingofkeymanagementpersonnelsalaries.PriortoMarch2025,nonewkey personnel appointments had been made in many years. ``` ``` CEO salary is set by the board of Trustees. ``` ## **`REFERENCE AND ADMINISTRATIVE DETAILS`** ``` Registered Company number 02550488 (England and Wales) ``` ## **`Registered Charity number`** ``` 1001923 ``` ## **`Registered office`** ``` Anderson House Goodall Street Macclesfield Cheshire SK11 7BD ``` ``` Page 6 ``` ``` East Cheshire Housing Consortium Limited ``` ## **`Report of the Trustees for the Year Ended 31 March 2025`** ## **`Trustees`** ``` S A Shaughnessy (Chair of the Trustees) M A Smith T Cresswell J Carr (appointed 10.9.24) J Wigmore Director (appointed 10.9.24) M J Flanagan (appointed 19.2.25) S E Horne (resigned 27.1.25) A N A Dicken (resigned 10.9.24) J V Bisset (resigned 9.9.24) ``` ## **`Company Secretary`** ``` B J Wright ``` ## **`Auditors`** ``` Harts Limited Chartered Accountants and Statutory Auditors Westminster House 10 Westminster Road Macclesfield Cheshire SK10 1BX ``` ## **`Senior management personnel`** ``` B Wright (Chief Executive Officer) R Jones D Sproston ``` ## **`Professional Advisers and Banking Arrangements`** ``` Banking: Barclay Bank ``` ``` Human Resources : Watershed Europe Limited ``` ``` Industry Specific: NHS Specialised Clinical Advisors ``` ``` Insurers: PIB Risk Services Ltd - Employer liability, Public liability, Professional indemnity, Legal Expenses, Cyber ``` ## **`STATEMENT OF TRUSTEES' RESPONSIBILITIES`** ``` Thetrustees(whoarealsothedirectorsofEastCheshireHousingConsortiumLimitedforthepurposesofcompany law) areresponsibleforpreparingtheReportoftheTrusteesandthefinancialstatementsinaccordancewithapplicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). ``` ``` Companylawrequiresthetrusteestopreparefinancialstatementsforeachfinancialyear.Underthatlaw,the trustees haveelectedtopreparethefinancialstatementsinaccordancewithUnitedKingdomGenerallyAccepted Accounting Practice (United Kingdom Accounting Standards and applicable law). ``` ``` Undercompanylawthetrusteesmustnotapprovethefinancialstatementsunlesstheyaresatisfiedthattheygivea true andfairviewofthestateofaffairsofthecharitablecompanyandoftheincomingresourcesandapplication of resources,includingtheincomeandexpenditure,ofthecharitablecompanyforthatperiod.Inpreparingthose 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.` ``` Page 7 ``` ``` East Cheshire Housing Consortium Limited ``` ## **`Report of the Trustees for the Year Ended 31 March 2025`** ## **`STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued`** ``` Thetrusteesareresponsibleforkeepingproperaccountingrecordswhichdisclosewithreasonableaccuracyatany time thefinancialpositionofthecharitablecompanyandtoenablethemtoensurethatthefinancialstatementscomply with theCompaniesAct2006.Theyarealsoresponsibleforsafeguardingtheassetsofthecharitablecompanyandhence 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.` ## **`AUDITORS`** ``` The auditors, Harts Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting. ``` ``` ThisreporthasbeenpreparedinaccordancewiththespecialprovisionsofPart15oftheCompaniesAct2006 relating to small companies. ``` ``` Approved by order of the board of trustees on 13 August 2026 and signed on its behalf by: ``` ``` S A Shaughnessy - Trustee ``` ``` Page 8 ``` ``` Report of the Independent Auditors to the Members of East Cheshire Housing Consortium Limited ``` ## **`Opinion`** ``` WehaveauditedthefinancialstatementsofEastCheshireHousingConsortiumLimited(the'charitablecompany')for the yearended31March2025whichcomprisetheStatementofFinancialActivities,theBalanceSheet,theCash Flow Statementandnotestothefinancialstatements,includingasummaryofsignificantaccountingpolicies.The financial reportingframeworkthathasbeenappliedintheirpreparationisapplicablelawandUnitedKingdom 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 2025 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`** ``` Weconductedourauditin accordancewithInternationalStandardsonAuditing(UK)(ISAs(UK))andapplicablelaw. Our responsibilitiesunderthosestandardsarefurtherdescribedintheAuditors'responsibilitiesfortheauditofthe financial statementssectionofourreport.Weareindependentofthecharitablecompanyinaccordancewiththe ethical requirementsthatarerelevanttoourauditofthefinancialstatementsin theUK,includingtheFRC'sEthicalStandard, and wehavefulfilledourotherethicalresponsibilitiesinaccordancewiththeserequirements.Webelievethatthe audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ``` ## **`Conclusions relating to going concern`** ``` Inauditingthefinancialstatements,wehaveconcludedthatthetrustees'useofthegoingconcernbasisofaccounting in the preparation of the financial statements is appropriate. ``` ``` Basedontheworkwehaveperformed,wehavenotidentifiedanymaterialuncertaintiesrelatingtoeventsor conditions that,individuallyorcollectively,maycastsignificantdoubtonthecharitablecompany'sabilitytocontinueasa going concern for a period of at least twelve months from when the financial statements are authorised for issue. ``` ``` Ourresponsibilitiesandtheresponsibilitiesofthetrusteeswithrespecttogoingconcernaredescribedinthe relevant sections of this report. ``` ## **`Other information`** ``` Thetrusteesareresponsiblefortheotherinformation.Theotherinformationcomprisestheinformationincludedin the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. ``` ``` Ouropiniononthefinancialstatementsdoesnotcovertheotherinformationand,excepttotheextent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. ``` ``` In connectionwithourauditofthefinancialstatements,ourresponsibilityistoreadtheotherinformationand,in doing so, considerwhethertheotherinformationismateriallyinconsistentwiththefinancialstatementsorourknowledge obtained intheauditorotherwiseappearstobemateriallymisstated.Ifweidentifysuchmaterialinconsistenciesor apparent materialmisstatements,wearerequiredtodeterminewhetherthisgivesrisetoamaterialmisstatementinthe financial statementsthemselves.If,basedontheworkwehaveperformed,weconcludethatthereisamaterialmisstatement of this other information, we are required to report that fact. We have nothing to report in this regard. ``` ## **`Opinions on other matters prescribed by the Companies Act 2006`** ``` In our opinion, based on the work undertaken in the course of the audit: ``` - `the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and` - `the Report of the Trustees has been prepared in accordance with applicable legal requirements.` ``` Page 9 ``` ``` Report of the Independent Auditors to the Members of East Cheshire Housing Consortium Limited ``` ## **`Matters on which we are required to report by exception`** ``` Inthelightoftheknowledgeandunderstandingofthecharitablecompanyanditsenvironmentobtainedinthecourse of the audit, we have not identified material misstatements in the Report of the Trustees. ``` ``` WehavenothingtoreportinrespectofthefollowingmatterswheretheCompaniesAct2006requiresustoreport to you if, in our opinion: ``` - `adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or` - `the financial statements are not in agreement with the accounting records and returns; or` - `certain disclosures of trustees' remuneration specified by law are not made; or` - `we have not received all the information and explanations we require for our audit; or` - `the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees.` ## **`Responsibilities of trustees`** ``` AsexplainedmorefullyintheStatementofTrustees'Responsibilities,thetrustees(whoarealsothedirectorsof the charitablecompanyforthepurposesofcompanylaw)areresponsibleforthepreparationofthefinancial statements andforbeingsatisfiedthattheygiveatrueandfairview,andforsuchinternalcontrolasthetrusteesdetermine is necessarytoenablethepreparationoffinancialstatementsthatarefreefrommaterialmisstatement,whetherdue to fraud or error. ``` ``` Inpreparingthefinancialstatements,thetrusteesareresponsibleforassessingthecharitablecompany'sability to continueasa goingconcern,disclosing,asapplicable,mattersrelatedtogoingconcernandusingthegoingconcern basis ofaccountingunlessthetrusteeseitherintendtoliquidatethecharitablecompanyortoceaseoperations,orhave no realistic alternative but to do so. ``` ``` Page 10 ``` ``` Report of the Independent Auditors to the Members of East Cheshire Housing Consortium Limited ``` ## **`Our responsibilities for the audit of the financial statements`** ``` Ourobjectivesaretoobtainreasonableassuranceaboutwhetherthefinancialstatementsasawholearefree from materialmisstatement,whetherduetofraudorerror,andtoissueaReportoftheIndependentAuditorsthatincludes our opinion.Reasonableassuranceisa highlevelofassurance,butisnota guaranteethatan auditconductedin accordance withISAs(UK)willalwaysdetectamaterialmisstatementwhenitexists.Misstatementscanarisefromfraudorerror and areconsideredmaterialif,individuallyorintheaggregate,theycouldreasonablybeexpectedtoinfluence 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,includingfraud,areinstancesofnon-compliancewithlawsandregulations.Wedesignproceduresin line withourresponsibilities,outlinedabove,todetectmaterialmisstatementsinrespectofirregularities,includingfraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below. ``` ``` Theprimaryresponsibilityforthepreventionanddetectionofnon-compliancewithlawsandregulations,including fraud, rests with both those charged with governance of the entity and management. ``` ``` Weobtainedan understandingofthelegalandregulatoryframeworksthatareapplicabletotheCharitablegroup and considered acts by the group that were contrary to these laws and regulations, including fraud. ``` ``` Weevaluatedmanagement'sincentivesandopportunitiesforfraudulentmanipulationofthefinancial statements (includingtheriskofanoverrideofcontrols)anddeterminedthattheprincipleriskswererelatedtoincome recognition. We also determined that there is a risk of inappropriate journal entries being included. ``` ``` Appropriate procedures performed by the engagement team included: ``` ``` - Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations; ``` ``` - Challenging the assumptions and judgements made by management in their significant accounting estimates; ``` ``` - Reviewing the minutes of meetings of the Board of Trustees/Directors; ``` ``` -Discussionswithmanagement,includingconsiderationofknownorsuspectedinstancesofnon-compliancewithlaws and regulations and fraud; ``` ``` - Performinganalyticalprocedurestoidentifyandunusualorunexpectedrelationshipsthatmayindicaterisksof material misstatement due to fraud. ``` ``` Thereareinherentlimitationsintheauditproceduresdescribedabove.Thefurtherremovednon-compliancewith laws andregulationsisfromtheeventsandtransactionsreflectedinthefinancialstatements,thelesslikelyweareto become awareofit.Auditingstandardsalsolimittheauditproceduresrequiredtoidentifynon-compliancewithlaws and regulationstoenquiryofthetrusteesandothermanagementandinspectionofregulatoryandlegalcorrespondence, if any.Theriskofnotdetectingamaterialmisstatementduetofraudishigherthantheriskofnotdetectingone resulting fromerror,asfraudmayinvolvedeliberateconcealmentby,forexample,forgery,intentionalmisrepresentation or through collusion. ``` ``` Basedonthisunderstandingwedesignedourauditprocedurestoidentifynon-compliancewithsuchlawsand regulations that could materially impact the financial statements. ``` ``` AfurtherdescriptionofourresponsibilitiesfortheauditofthefinancialstatementsislocatedontheFinancial Reporting Council'swebsiteatwww.frc.org.uk/auditorsresponsibilities.ThisdescriptionformspartofourReportofthe Independent Auditors. ``` ``` Page 11 ``` ``` Report of the Independent Auditors to the Members of East Cheshire Housing Consortium Limited ``` ## **`Use of our report`** ``` Thisreportismadesolelytothecharitablecompany'smembers,asabody,inaccordancewithChapter3ofPart16 of theCompaniesAct2006.Ourauditworkhasbeenundertakensothatwemightstatetothecharitable company's membersthosematterswearerequiredtostatetotheminanauditors'reportandfornootherpurpose.Tothe fullest extentpermittedbylaw,wedonotacceptorassumeresponsibilitytoanyoneotherthanthecharitablecompanyand the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. ``` ``` David Taylor BFP FCA (Senior Statutory Auditor) for and on behalf of Harts Ltd Harts Limited Chartered Accountants and Statutory Auditors Westminster House 10 Westminster Road Macclesfield Cheshire SK10 1BX ``` > `Date: .............................................` 17/08/2026 ``` Page 12 ``` ``` East Cheshire Housing Consortium Limited ``` ## **`Statement of Financial Activities`** ## **`(Incorporating an Income and Expenditure Account) for the Year Ended 31 March 2025`** |`Notes`
**`INCOME AND ENDOWMENTS FROM`**
**`Charitable activities`**
`2`
`Charitable activities`
**`EXPENDITURE ON`**
**`Charitable activities`**
`3`
`Charitable activities`
**`NET INCOME/(EXPENDITURE)`**
**`RECONCILIATION OF FUNDS`**
**`Total funds brought forward`**
`As previously reported`
`Prior year adjustment`
`9`
**`As restated`**
**`TOTAL FUNDS CARRIED FORWARD`**|`Unrestricted`
`funds`
`£`
`4,750,410`
`4,981,284`
`(230,874)`
`1,199,737`
`(635,110)`
`564,627`
`333,753`|`Restricted`
`fund`
`£`
`-`
`-`
`-`
`-`
`-`
`-`
`-`|`31.3.25`
`Total`
`funds`
`£`
`4,750,410`
`4,981,284`
`(230,874)`
`1,199,737`
`(635,110)`
`564,627`
`333,753`|`31.3.24`
`Total`
`funds`
`as restated`
`£`
`4,600,308`| |---|---|---|---|---| |||||`4,829,999`| |||||`(229,691)`
`1,133,690`
`(339,372)`| |||||`794,318`| |||||`564,627`| ## **`CONTINUING OPERATIONS`** ``` All income and expenditure has arisen from continuing activities. ``` ``` The notes form part of these financial statements ``` ``` Page 13 ``` ``` East Cheshire Housing Consortium Limited ``` ## **`Balance Sheet`** ## **`31 March 2025`** |`Notes`
**`FIXED ASSETS`**
`Tangible assets`
`10`
**`CURRENT ASSETS`**
`Debtors`
`11`
`Cash at bank and in hand`
**`CREDITORS`**
`Amounts falling due within one year`
`12`
**`NET CURRENT ASSETS`**
**`TOTAL ASSETS LESS CURRENT LIABILITIES`**
**`CREDITORS`**
`Amounts falling due after more than one year`
`13`
**`NET ASSETS`**
**`FUNDS`**
`16`
`Unrestricted funds`
**`TOTAL FUNDS`**|`Unrestricted`
`funds`
`£`
`160,987`
`528,120`
`41,599`
`569,719`
`(298,651)`
`271,068`
`432,055`
`(98,302)`
`333,753`|`Restricted`
`fund`
`£`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`|`31.3.25`
`Total`
`funds`
`a`
`£`
`160,987`
`528,120`
`41,599`
`569,719`
`(298,651)`
`271,068`
`432,055`
`(98,302)`
`333,753`
`333,753`
`333,753`|`31.3.24`
`Total`
`funds`
`s restated`
`£`
`262,810`
`470,853`
`137,148`| |---|---|---|---|---| |||||`608,001`
`(178,710)`| |||||`429,291`| |||||`692,101`
`(127,474)`| |||||`564,627`| |||||`564,627`| |||||`564,627`| ``` Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicabletocharitable companies subject to the small companies regime. ``` ``` ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon13August2026and were signed on its behalf by: ``` ``` S A Shaughnessy - Trustee ``` ``` The notes form part of these financial statements ``` ``` Page 14 ``` ``` East Cheshire Housing Consortium Limited ``` ## **`Cash Flow Statement for the Year Ended 31 March 2025`** |`Notes`
**`Cash flows from operating activities`**
`Cash generated from operations`
`1`
`Interest element of hire purchase payments`
`paid`
`Net cash used in operating activities`
**`Cash flows from investing activities`**
`Purchase of tangible fixed assets`
`Sale of tangible fixed assets`
`Net cash provided by/(used in) investing activities`
**`Cash flows from financing activities`**
`Capital repayments in year`
`Net cash (used in)/provided by financing activities`
**`Change in cash and cash equivalents in`**
**`the reporting period`**
**`Cash and cash equivalents at the`**
**`beginning of the reporting period`**
**`Cash and cash equivalents at the end of`**
**`the reporting period`**|`31.3.25`

`£`
`(55,284)`
`(12,153)`
`(67,437)`
`-`
`17,478`
`17,478`
`(45,590)`
`(45,590)`
`(95,549)`
`137,148`
`41,599`|`31.3.24`
`as restated`
`£`
`(96,683)`
`(7,522)`
`(104,205)`
`(157,470)`
`28,872`
`(128,598)`
`28,568`
`28,568`
`(204,235)`
`341,383`
`137,148`| |---|---|---| ``` The notes form part of these financial statements ``` ``` Page 15 ``` ``` East Cheshire Housing Consortium Limited ``` ## **`Notes to the Cash Flow Statement for the Year Ended 31 March 2025`** ## **`1.`** ## **`RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES`** |**`Net expenditure for the reporting period (as per the Statement of`**
**`Financial Activities)`**
**`Adjustments for:`**
`Depreciation charges`
`Loss on disposal of fixed assets`
`Interest element of hire purchase and finance lease rental payments`
`(Increase)/decrease in debtors`
`Increase in creditors`
**`Net cash used in operations`**|`31.3.25`

`£`
`(230,874)`
`78,077`
`6,268`
`12,153`
`(57,267)`
`136,359`
`(55,284)`|`31.3.24`
`as restated`
`£`
`(229,691)`
`60,119`
`14,275`
`7,522`
`17,617`
`33,475`
`(96,683)`| |---|---|---| ## **`2. ANALYSIS OF CHANGES IN NET DEBT`** |**`Net cash`**
`Cash at bank and in hand`
**`Debt`**
`Finance leases`
**`Total`**|`At 1.4.24`
`Cash flow`
`At 31.3.25`
`£`
`£`
`£`
`137,148`
`(95,549)`
`41,599`
`137,148`
`(95,549)`
`41,599`
`(164,040)`
`45,590`
`(118,450)`
`(164,040)`
`45,590`
`(118,450)`
`(26,892)`
`(49,959)`
`(76,851)`| |---|---| ``` The notes form part of these financial statements ``` ``` Page 16 ``` ``` East Cheshire Housing Consortium Limited ``` ## **`Notes to the Financial Statements for the Year Ended 31 March 2025`** ## **`1. ACCOUNTING POLICIES`** ## **`Basis of preparing the financial statements`** ``` Thefinancialstatementsofthecharitablecompany,whichisapublicbenefitentityunderFRS102,have been preparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities:Statement of RecommendedPracticeapplicabletocharitiespreparingtheiraccountsin accordancewiththeFinancial Reporting StandardapplicableintheUKandRepublicofIreland(FRS102)(effective1January2019)', Financial ReportingStandard102'TheFinancialReportingStandardapplicablein theUKandRepublicofIreland'and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. ``` ``` The financial statements are prepared in sterling which is also the functional currency of the company. ``` ## **`Critical accounting judgements and key sources of estimation uncertainty`** ``` Intheapplicationofthecharitablecompany'saccountingpolicies,thetrusteesarerequiredtomake judgements, estimatesandassumptionsaboutthecarryingamountsofassetsandliabilitiesthatarenotreadilyapparent from othersources.Theestimatesandassociatedassumptionsarebasedon historicalexperienceandotherfactors that are considered to be relevant. Actual results may differ from these estimates. ``` ``` Theestimatesandunderlyingassumptionsarereviewedonanongoingbasis.Revisionstoaccounting estimates arerecognisedintheperiodinwhichtheestimateisrevisedwheretherevisionaffectsonlythatperiod,orin the period of the revision and future periods where the revision affects both current and future periods. ``` ``` TheTrusteesdonotconsiderthatthereareanycriticaljudgements,apartfromthoseinvolvingestimates,made in applying the Charitable company's accounting policies. ``` ``` TheTrusteesconsiderthattherearenokeysourcesofestimationuncertaintythathavea significantriskof causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year. ``` ## **`Income`** ``` Allincomeisrecognisedoncethecharityhasentitlementtotheincome,itisprobablethattheincomewill be received and the amount can be measured reliably. ``` ## **`Grants receivable`** ``` GrantsarerecognisedwhentheCharityhasanentitlementtothefundsandanyconditionslinkedtothe grants havebeenmet.Whereperformanceconditionsareattachedtothegrantandareyettobemet,theincome is recognised as a liability and included on the balance sheet as deferred income to be released. ``` ## **`Expenditure`** ``` Allexpenditureisrecognisedoncethereisalegalorconstructiveobligationtothatexpenditure,itis probable settlementis requiredandtheamountcanbemeasuredreliably.Allcostsareallocatedtoapplicable expenditure headingthataggregatesimilarcoststothatcategory,Wherecostscannotbedirectlyattributedto particular headingthehavebeenallocatedonabasisconsistentwiththeuseofresources,withcentralstaffcosts allocated onthebasisoftimespent.,anddepreciationchargesallocatedonthepositionoftheasset'suse.Other support costs are allocated based on the spread of staff costs. ``` ## **`Support costs`** ``` Supportcostsincludecentralfunctionsandhavebeenallocatedtoactivitycostcategoriesonabasis consistent withtheuseofresources,forexample,allocatingpropertycostsbyfloorareas,orpercapita,staffcostsby the time spent and other costs by their usage. ``` ## **`Tangible fixed assets`** ``` Depreciationisprovidedatthefollowingannualratesinordertowriteoffeachassetoveritsestimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter. ``` ``` Improvements to property- Over the period of the lease Plant and machinery- 20% on cost Motor vehicles- 25% on cost ``` ## **`Taxation`** ``` The charity is exempt from corporation tax on its charitable activities. ``` ``` continued... ``` ``` Page 17 ``` ``` East Cheshire Housing Consortium Limited ``` ``` Notes to the Financial Statements - continued for the Year Ended 31 March 2025 ``` ## **`1. ACCOUNTING POLICIES - continued`** ## **`Fund accounting`** ``` Unrestrictedincomefundsaregeneralfundsthatareavailableforuseatthetrusteesdiscretiononfurtherance of the objectives of the Charity. ``` ``` Restrictedincomefundsarethosedonatedforusein a particularareaorforspecificpurposes,theuseofwhich is restricted to that area or purpose. ``` ## **`Hire purchase and leasing commitments`** ``` Rental paid under operating leases are charged to the SOFA on a straight line basis over the lease. ``` ## **`Pension costs and other post-retirement benefits`** ``` TheCharityhasoperatedacontributionbasedauto-enrolmentpensionschemeforthebenefitofitsemployees in accordancewithlegislationonworkplacepensions.ThepensioncostsarisingarechargedtotheSOFAunder staff costs at the time of the liability is incurred. ``` ## **`Going concern`** ``` Thedirectorshavereviewedthecharity'sabilitytocontinueasagoingconcernbeyondtheanniversaryof the annualgeneralmeetingbyreferencebudgetspreparedforthefinancialyearend31stMarch2025,the levels ofreservesanticipatedatthatdate,andthefutureplannedinvestment.Theyhaveconcludedthatthereare no foreseeable issues which would prevent the company preparing the financial statements on a going concern basis. ``` ## **`Financial instruments`** ``` Basicfinancialinstrumentsareinitiallymeasuredattransactionpriceandsubsequentlymeasuredat amortised cost,withtheexceptionofcashatbankwhichisheldatfairvalue.Financialassetsheldatamortised cost comprisetradeandotherdebtorsandfinancialliabilitiesheldatamortisedcostcomprisetradeand other creditors, except taxation and social security. ``` ## **`Trade debtors`** ``` Trade debtors are amounts due from customers in relation to the carrying out of charitable activities. ``` ``` Tradedebtorsarerecognisedinitiallyatthetransactionprice.Theyaresubsequentlymeasuredat amortised cost,lessprovisionforimpairment.Aprovisionfortheimpairmentoftradedebtorsisestablishedwhenthere is objectiveevidencethatthecharitywillnotbeabletocollectallamountsdueaccordingtotheoriginalterms of the receivables. ``` ## **`Cash and cash equivalents`** ``` Cashandcashequivalentscomprisecashonhandandbankdeposits,andothershort-termhighly liquid investmentsthatarereadilyconvertibletoaknownamountofcashandaresubjecttoaninsignificantrisk of change in value. ``` ## **`Trade creditors`** ``` Tradecreditorsareobligationstopayforgoodsorservicesthathavebeenacquiredintheperformance of charitable activities and support services from suppliers. ``` ``` Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost. ``` ## **`Company status`** ``` Thecharitablecompanyislimitedbyguaranteewitheachmemberbeingliabletocontribute£1intheeventof a winding up. The trustees comprise the members of the company. ``` ``` continued... ``` ``` Page 18 ``` ``` East Cheshire Housing Consortium Limited ``` ## **`Notes to the Financial Statements - continued for the Year Ended 31 March 2025`** ## **`2. INCOME FROM CHARITABLE ACTIVITIES`** |||`31.3.25`|`31.3.24`| |---|---|---|---| ||||`as restated`| ||`Activity`|`£`|`£`| |`Supported housing income`|`Charitable activities`|`4,750,410`|`4,600,308`| ## **`3. CHARITABLE ACTIVITIES COSTS`** ``` All costs relate to unrestricted funds. ``` ||`31.3.25`|`31.3.24`| |---|---|---| |||`as restated`| ||`£`|`£`| |`Wages costs (see note 7)`|`1,840,335`|`1,650,441`| |`Agency staff costs`|`647,474`|`617,964`| |`Rent`|`1,090,707`|`1,142,162`| |`Rates and water`|`54,248`|`30,106`| |`Insurance`|`15,643`|`12,603`| |`Light and heat`|`156,261`|`83,587`| |`Telephone`|`21,150`|`19,263`| |`Postage and stationery`|`35,553`|`20,097`| |`Repairs and maintenance`|`89,246`|`182,581`| |`Computer and IT costs`|`8,331`|`5,213`| |`Housekeeping and other sundries`|`37,653`|`84,367`| |`Cleaning`|`40,304`|`39,926`| |`Motor and travel`|`86,384`|`153,095`| |`Lifelines`|`3,640`|`4,503`| |`Staff training`|`11,110`|`12,869`| |`Registrations`|`1,045`|`984`| |`Legal, professional and consultancy costs`|`-`|`14,789`| |`Bad debt written off`|`33,609`|`15,731`| |`Depreciation of tangible fixed assets`|`78,077`|`60,119`| |`Loss on disposal of fixed assets`|`6,268`|`14,275`| |`Hire purchase interest`|`12,153`|`7,522`| |`Support and governance costs (see note 4)`|`712,093`|`657,802`| |||| ||`4,981,284`|`4,829,999`| ``` continued... ``` ``` Page 19 ``` ``` East Cheshire Housing Consortium Limited ``` ## **`Notes to the Financial Statements - continued for the Year Ended 31 March 2025`** ## **`4. SUPPORT COSTS`** ||`31.3.25`|`31.3.24`| |---|---|---| |||`as restated`| ||`£`|`£`| |`Wages costs (see note 7)`|`367,167`|`329,784`| |`Rent, rates and water`|`32,372`|`32,150`| |`Insurance`|`62,844`|`49,977`| |`Light and heat`|`3,306`|`2,815`| |`Telephone`|`39,834`|`61,175`| |`Postage and stationery`|`11,271`|`12,259`| |`Repairs and maintenance`|`5,626`|`9,597`| |`Computer and IT costs`|`17,292`|`11,812`| |`Cleaning`|`1,264`|`669`| |`Motor and travel`|`98,908`|`71,244`| |`Staff training`|`4,800`|`11,380`| |`Legal, professional and consultancy costs`|`21,421`|`28,522`| |`Sundry expenses`|`37,267`|`28,623`| |`Bank charges`|`221`|`235`| |`Governance costs (see below)`|`8,500`|`7,560`| |||| ||`712,093`|`657,802`| |**`Governance costs`**||| ||`31.3.25`|`31.3.24`| |||`as restated`| ||`£`|`£`| |`Auditors' remuneration`|`8,500`|`7,560`| |||| ## **`5. NET INCOME/(EXPENDITURE)`** ``` Net income/(expenditure) is stated after charging/(crediting): ``` ||`31.3.25`|`31.3.24`| |---|---|---| |||`as restated`| ||`£`|`£`| |`Auditors' remuneration`|`8,500`|`7,560`| |`Depreciation of tangible fixed assets`|`78,077`|`60,120`| |`Operating lease costs`|`1,294,813`|`1,276,069`| |`Hire purchase interest`|`12,152`|`7,523`| |`Loss on disposal of fixed assets`|`6,268`|`14,275`| |||| ``` continued... ``` ``` Page 20 ``` ``` East Cheshire Housing Consortium Limited ``` ## **`Notes to the Financial Statements - continued for the Year Ended 31 March 2025`** ## **`6. TRUSTEES' REMUNERATION AND BENEFITS`** ``` Therewerenotrustees'remunerationorotherbenefitsfortheyearended31March2025norforthe year ended 31 March 2024. ``` ## **`Trustees' expenses`** ``` During the year there were travel expenses paid to one Trustee of £88 (2024: £nil). ``` ## **`7. STAFF COSTS`** |`Wages and salaries`
`Social security costs`
`Other pension costs`|`31.3.25`
`£`
`1,932,628`
`208,919`
`65,955`
`2,207,502`|`31.3.24`
`as restated`
`£`
`1,746,677`
`176,912`
`56,636`
`1,980,225`| |---|---|---| ``` The average monthly number of employees during the year was as follows: ``` ||`31.3.25`|`31.3.24`| |---|---|---| |||`as restated`| |`Operational and Administrative`|`92`|`87`| ``` The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was: ``` |`£60,001 - £70,000`
`£80,001 - £90,000`
`£90,001 - £100,000`|`31.3.25`
`a`
`2`
`-`
`1`
`3`|`31.3.24`
`s restated`
`1`
`1`
`-`
`2`| |---|---|---| ``` KeyManagementPersonnelconsistsoftheTrusteesandseniormanagementteam.Thetotalemployee benefits paid to Key Management Personnel during the year were £334,732 (2024: £312,172). ``` **`8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`** |**`INCOME AND ENDOWMENTS FROM`**
**`Charitable activities`**
`Charitable activities`
**`EXPENDITURE ON`**
**`Charitable activities`**
`Charitable activities`
**`NET INCOME/(EXPENDITURE)`**|`Unrestricted`
`funds`
`£`
`4,600,308`
`4,829,999`
`(229,691)`|`Restricted`
`fund`
`£`
`-`
`-`
`-`|`Total`
`funds`
`as restated`
`£`
`4,600,308`| |---|---|---|---| ||||`4,829,999`| ||||`(229,691)`| ``` continued... ``` ``` Page 21 ``` ``` East Cheshire Housing Consortium Limited ``` ## **`Notes to the Financial Statements - continued for the Year Ended 31 March 2025`** ## **`8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued`** |**`RECONCILIATION OF FUNDS`**
**`Total funds brought forward`**
`As previously reported`
`Prior year adjustment`
**`As restated`**
**`TOTAL FUNDS CARRIED FORWARD`**|`Unrestricted`
`funds`
`£`
`1,133,690`
`(339,372)`
`794,318`
`564,627`|`Restricted`
`fund`
`£`
`-`
`-`
`-`
`-`|`Total`
`funds`
`as restated`
`£`
`1,133,690`
`(339,372)`| |---|---|---|---| ||||`794,318`| ||||`564,627`| ## **`9. PRIOR YEAR ADJUSTMENT`** ``` Duringtheyear,anumberofmaterialerrorsinthefinancialstatementsfortheyearended31March2024 and earlierperiodswerediscovered.InaccordancewithFRS102andtheCharitiesSORP,thecomparative amounts have been restated to correct these errors. ``` ``` The errors identified and the resulting adjustments are summarised below: ``` |`Balance sheet`||`Correction at 1 April`
`2023 (£`
`)`||`Correction for year`
`ended 31 March`
`2024 (£`
`)`|`Correction for year`
`ended 31 March`
`2024 (£`
`)`|`Correction for year`
`ended 31 March`
`2024 (£`
`)`||`Cumulative at 31`
`March 2024 (£`
`)`|`Cumulative at 31`
`March 2024 (£`
`)`| |---|---|---|---|---|---|---|---|---|---| ||||||||||| ||||||||||| |`Leashold improvements`||`(110,601)`||||`(18,241)`|||`(128,842)`| ||||||||||| |`Prepayments and accrued`
`income`||`-`|||`(261,766)`||||`(261,766)`| ||||||||||| |`Trade debtors`||`(228,771)`|||`(15,731)`||||`(244,502)`| ||||||||||| ||||||||||| |`Total balance sheet`
`adjustment`||`(339,372)`|||`(295,738)`||||`(635,110)`| ``` Correctionstoleaseholdimprovementsrelatetodepreciationchargeswhichhadnotbeenmadein accordance withthecharitablecompaniespolicyofdepreciatingovertheshorteroftheleasetermandtheuseful economic life of the asset. ``` ``` Correctionstoprepaymentsandaccruedincomerelatetothecorrectapplicationofrecognitioncriteria in accordance with FRS 102 and Charities SORP. ``` ``` Corrections to trade debtors relate to a review of irrecoverable debt. ``` |||`Adjustments`|`relating to:`| |---|---|---|---| |`Statement of Financial Activities`|`Prior periods before 1`
`April 2023`||`Year ended 31 March`
`2024`| ||||| |`Increase in income`||
`-`|`41,674`| ||||| |`(Increase) in expenditure`||`-`|`(303,440)`| ||||| |`(Increase) in doubtful debt expense`||`(228,771)`|`(15,731)`| ||||| |`(Increase) in depreciation of tangible fixed assets`||`(110,601)`|`(18,241)`| ||||| ||||| |`Net (reduction) in funds`||`(339,372)`|`(295,738)`| ``` continued... ``` ``` Page 22 ``` ``` East Cheshire Housing Consortium Limited ``` ## **`Notes to the Financial Statements - continued for the Year Ended 31 March 2025`** ## **`9. PRIOR YEAR ADJUSTMENT - continued`** ``` Inaddition,acorrectionwasmadetothevalueoftherestrictedfundwhichstoodat£1,329.Thisfundwas all expended during the 2020/21 financial year and the financial statements have been restated to reflect this. ``` ``` Intheamendedaccountsto31stMarch2024,therewasarevaluationreserveinunrestrictedfunds comprising historicalrevaluationsurplusesrelatingtoaninvestmentproperty.Thepropertywassoldin2022,therefore the revaluationreserveceasedtohaveacontinuingpurposefromthedateofdisposal.Thesefinancial statements nowreflectthetransferofthisrevaluationreservetothegeneralfund,andthereforerestatesthe unrestricted fund to comprise only general unrestricted funds brought forward as at 1st April 2023. ``` ## **`10. TANGIBLE FIXED ASSETS`** |`Improvements`
`to`
`property`
`£`
**`COST`**
`At 1 April 2024`
`348,292`
`Disposals`
`-`
`At 31 March 2025`
`348,292`
**`DEPRECIATION`**
`At 1 April 2024`
`284,134`
`Charge for year`
`25,663`
`Eliminated on disposal`
`-`
`At 31 March 2025`
`309,797`
**`NET BOOK VALUE`**
`At 31 March 2025`
`38,495`
`At 31 March 2024`
`64,158`|`Plant and`
`machinery`
`£`
`234,035`
`-`
`234,035`
`234,035`
`-`
`-`
`234,035`
`-`
`-`|`Motor`
`vehicles`
`£`
`262,987`
`(67,528)`
`195,459`
`64,335`
`52,414`
`(43,782)`
`72,967`
`122,492`
`198,652`|`Totals`
`£`
`845,314`
`(67,528)`
`777,786`
`582,504`
`78,077`
`(43,782)`
`616,799`
`160,987`
`262,810`| |---|---|---|---| ``` Fixed assets, included in the above, which are held under hire purchase contracts are as follows: ``` |**`COST`**
`At 1 April 2024`
`Disposals`
`Transfer to ownership`
`At 31 March 2025`
**`DEPRECIATION`**
`At 1 April 2024`
`Charge for year`
`Eliminated on disposal`
`Transfer to ownership`
`At 31 March 2025`
**`NET BOOK VALUE`**
`At 31 March 2025`
`At 31 March 2024`|`Motor`
`vehicles`
`£`
`241,987`
`(56,528)`
`(14,500)`
`170,959`
`50,834`
`51,804`
`(32,782)`
`(11,793)`
`58,063`
`112,896`
`191,153`| |---|---| ``` continued... ``` ``` Page 23 ``` ``` East Cheshire Housing Consortium Limited ``` ## **`Notes to the Financial Statements - continued for the Year Ended 31 March 2025`** |**`11.`**
**`DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
`Trade debtors`
`Other debtors`
`Prepayments & accrued income`
**`12.`**
**`CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
`Hire purchase (see note 14)`
`Trade creditors`
`Social security and other taxes`
`Other creditors`
`Accrued expenses`
**`13.`**
**`CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR`**
`Hire purchase (see note 14)`
**`14.`**
**`LEASING AGREEMENTS`**
`Minimum lease payments fall due as follows:`
`Net obligations repayable:`
`Within one year`
`Between one and five years`
`Within one year`
`Between one and five years`
`In more than five years`|`31.3.25`
`31.3.24`
`as restated`
`£`
`£`
`345,842`
`289,218`
`3,944`
`7,518`
`178,334`
`174,117`
`528,120`
`470,853`
`31.3.25`
`31.3.24`
`as restated`
`£`
`£`
`20,148`
`36,566`
`192,474`
`82,904`
`43,095`
`35,946`
`13,825`
`9,385`
`29,109`
`13,909`
`298,651`
`178,710`
`31.3.25`
`31.3.24`
`as restated`
`£`
`£`
`98,302`
`127,474`
`Hire purchase contracts`
`31.3.25`
`31.3.24`
`as restated`
`£`
`£`
`20,148`
`36,566`
`98,302`
`127,474`
`118,450`
`164,040`
`Non-cancellable operating`
`leases`
`31.3.25`
`31.3.24`
`as restated`
`£`
`£`
`1,169,542`
`1,140,652`
`4,376,834`
`4,361,692`
`14,148,778`
`15,223,454`
`19,695,154`
`20,725,798`| |---|---| ``` continued... ``` ``` Page 24 ``` ``` East Cheshire Housing Consortium Limited ``` ## **`Notes to the Financial Statements - continued for the Year Ended 31 March 2025`** ## **`14. LEASING AGREEMENTS - continued`** ``` Thecharityhasenteredintoanumberoflong-termleaseagreementsinrespectofaccommodationusedin the deliveryofitsservicestotheserviceusers.Thecommitmentsarisingfromtheseagreementsaresignificantdue to thenatureofthecharity'sactivities,whichrequireittosecuresuitableaccommodationforserviceusersover the long term in order to provide continuity and stability of care and support. ``` ``` Theamountsdisclosedaboverepresenttheminimumcontractualcommitmentsundertheleasesat31March 2025, basedon therentalandothercontractualchargesapplicableatthatdate.Thecommitmentsexcludetheeffect of future rent reviews or other charges which are not determinable at the reporting date. ``` ``` TheamountrecognisedintheStatementofFinancialActivitiesintheyearrelatingtocostsincurred under operating leases was £1,294,813 (2024: £1,276,069). ``` ## **`15. SECURED DEBTS`** ``` The following secured debts are included within creditors: ``` ||`31.3.25`|`31.3.24`| |---|---|---| |||`as restated`| ||`£`|`£`| |`Hire purchase contracts`|`118,450`|`164,040`| ``` Liabilities due under hire purchase agreements are secured on the assets to which they relate. ``` ## **`16. MOVEMENT IN FUNDS`** |`At 1.4.24`
`£`
**`Unrestricted funds`**
`General fund`
`1,179,337`
`Designated Funds`
`20,400`
`1,199,737`
**`TOTAL FUNDS`**
`1,199,737`
`Net movement in funds, included in the above are`
**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**|`Prior`
`year`
`adjustment`
`£`
`(635,110)`
`-`
`(635,110)`
`(635,110)`
`as follows:`|`Net`
`movement`
`in funds`
`£`
`(230,874)`
`-`
`(230,874)`
`(230,874)`
`Incoming`
`resources`
`£`
`4,750,410`
`4,750,410`|`Transfers`
`between`
`funds`
`£`
`20,400`
`(20,400)`
`-`
`-`
`Resources`
`expended`
`£`
`(4,981,284)`
`(4,981,284)`|`At`
`31.3.25`
`£`
`333,753`
`-`
`333,753`
`333,753`
`Movement`
`in funds`
`£`
`(230,874)`
`(230,874)`| |---|---|---|---|---| ``` continued... ``` ``` Page 25 ``` ``` East Cheshire Housing Consortium Limited ``` ## **`Notes to the Financial Statements - continued for the Year Ended 31 March 2025`** ## **`16. MOVEMENT IN FUNDS - continued`** ## **`Comparatives for movement in funds`** |**`Unrestricted funds`**
`General fund`
`Designated Funds`
**`TOTAL FUNDS`**|`At 1.4.23`
`£`
`1,113,290`
`20,400`
`1,133,690`
`1,133,690`|`Prior`
`year`
`adjustment`
`£`
`(339,372)`
`-`
`(339,372)`
`(339,372)`|`Net`
`movement`
`in funds`
`£`
`(229,691)`
`-`
`(229,691)`
`(229,691)`|`At`
`31.3.24`
`£`
`544,227`
`20,400`| |---|---|---|---|---| |||||`564,627`| |||||`564,627`| ``` Comparative net movement in funds, included in the above are as follows: ``` |**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**|`Incoming`
`resources`
`£`
`4,600,308`
`4,600,308`|`Resources`
`expended`
`£`
`(4,829,999)`
`(4,829,999)`|`Movement`
`in funds`
`£`
`(229,691)`| |---|---|---|---| ||||`(229,691)`| ``` A current year 12 months and prior year 12 months combined position is as follows: ``` |**`Unrestricted funds`**
`General fund`
`Designated Funds`
**`TOTAL FUNDS`**|`At 1.4.23`
`£`
`1,113,290`
`20,400`
`1,133,690`
`1,133,690`|`Prior`
`year`
`adjustment`
`£`
`(974,482)`
`-`
`(974,482)`
`(974,482)`|`Net`
`movement`
`in funds`
`£`
`(460,565)`
`-`
`(460,565)`
`(460,565)`|`Transfers`
`between`
`funds`
`£`
`20,400`
`(20,400)`
`-`
`-`|`At`
`31.3.25`
`£`
`(301,357)`
`-`| |---|---|---|---|---|---| ||||||`(301,357)`| ||||||`(301,357)`| ``` Acurrentyear12monthsandprioryear12monthscombinednetmovementinfunds,includedintheabove are as follows: ``` |**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**|`Incoming`
`resources`
`£`
`9,350,718`
`9,350,718`|`Resources`
`expended`
`£`
`(9,811,283)`
`(9,811,283)`|`Movement`
`in funds`
`£`
`(460,565)`| |---|---|---|---| ||||`(460,565)`| ``` Aspartoftheprioryearcorrections,detailedinnote9,acorrectionwasmadetothevalueofthe restricted fund,whichstoodat£1,329.Thisfundwasallspentduringthe2020/21financialyearandthe financial statements have been restated to reflect this. ``` ``` continued... ``` ``` Page 26 ``` ``` East Cheshire Housing Consortium Limited ``` ## **`Notes to the Financial Statements - continued for the Year Ended 31 March 2025`** ## **`16. MOVEMENT IN FUNDS - continued`** ## **`Transfers between funds`** ``` Thedesignatedfundrelatedhistoricallytoadilapidationsfund,ringfencedtoprovidefortherenovation of residents'rooms.Thedesignatedfundisnolongerconsiderednecessaryandhasthereforebeentransferred in full to general unrestricted funds. ``` ## **`17. RELATED PARTY DISCLOSURES`** ``` MrJBisset,formerChairmanoftheBoardofTrusteeschargedconsultancyfeesof£5,232(2024:£9,871)to the charity until resignation as a Trustee on 9th September 2024. ``` ## **`18. PENSIONS AND OTHER SCHEMES`** ``` Duringtheyearthecharitablecompanyoperatedadefinedcontributionpensionschemeforitsemployees. The assets of the scheme are held independently from those of the company in an independently administered fund. ``` ``` Thepensioncostsandchargerepresentscontributionspayablebythecharitablecompanytothefund and amountto£54,923(2024£45,773).Atthe31stMarch2025contributionsamountingto£8,359(2024: £7,143) were owed to the fund and were included in other creditors. ``` ``` Page 27 ```