CCIMPANY REGISTRATION NUMBER: 03199863 CHARITY REG18TRATIQN NUMBER: 1059437 Cleveland Hou8ing Trust Ltd Company Llmlted by Guarantee Flnanclal Statements 31 Octobér 2023 TU EANDS Chartered accountants & statutory auditor Colllngwood House chU￿h Square Hartlepool TS24 7EN Cleveland Housing Trust Ltd Company Limited by Guarantee Flnanclal Stalements Year ended 31 October 2023 Page Trustees, annual report (incorporallng Ihe dlrectofs r8POrt) Independent auditorf8 tpport tr) the members Statemenl of financial 8CtlvFtie8 {including Income and expendlture 8CCDunt) Statement of ffnancial poSI￿on statsment of cash llows 10 11 Notes lo tha flnanolal slatements 12 Clevoland Housing Trust Ltd Company Llmlted by Guarantee Tru$toes' Annual Report (Incorporating the Dlrectofs Report) Y•ar ended 31 October 2023 The trusteÈ3. th are 8180 Ihe dlrector8 for the purpose$ of coryany taw, present thelr report and the financid 8talprnBnts oflhe charltyforthe y8ar ended 31 October 2023. Ch•lFs roport The obiectN•S of thg Tru$t sat out b•lLw. Alhou9h the company Is oo￿tan11Y In¢￿asIng 11$ r¢v¢nue str¢8rn by brknglng new prop?rtles Into OCCUP811on tt h8s baen ablè to keep Ind￿￿ju#l ronts to ihe beneffit of Its t•nani¥. During tho year lh8 C4)mpBry ￿mpleted 8 SDcla huu91￿j doVglopm8rbt In Gulsbuough and st8rted renting out the propertle5. R¢f•ron¢• and admlnl$trallv¢ d•tall8 Regl$tsr8d charkty Azmo Chgffty roglstrbtloft numb•r Company Fogljlratlon numb8r 03199863 Prlnclpal offi￿ and (egl•t•rgd Sopwllh b10th86 Offl¢0 Sopwllh Close Pte8ton Farm 8lockton on TeeB TS183 Cleveland Hou$lng Tru¥t Ltd 1059437 Th• tnJet￿$ Mrj B Pwkln HEddy Mrs Q Bum Mro B ￿tsher Ilmthd Audltor Wm Fortune and Son Chartpred •xountants & 8laiuioryaudlt¢r Colllngwaod Hou8e Church Squarg H8rtlepool TS24 7EN Cleveland Housing Trust Ltd Company Llmltèd by Guarantee Trustees. Annual Report (Incorporating the Direciofs Report) rroHtWIYg Year endod 31 October 2023 styurturei governancé and manog*m8nt Th8 Truslls a Reglstered Charlt•blg Company, Ilmlied byguarthge. }nc￿￿10r01ed ¢n 16th May 1996. l)Tru$teès are selected tythe boBrd ¢)n Ihe b&Bls of sultability and oxp&rl&nce. 2)Trn$lees aFB in8tructed In fhe alm and ob￿¢11￿$ of tho Charity and Informod of thlr leg81 #nd sIalut¢ryobl￿eI10rn5. 3} Th• m8nagem8nl of Ihe compary16 the responslbllty of th¢ Truslge8. who aro roqulTed lo meat at regul8r intervals lal least onc& a wr) and mgTe often if requlred. Day lo day man8g$rnenl 1$ caffled out by &teff who are employe0 bylhg thwlty. ObJg¢tlvos aellvltl•8 The prlnclpal oblecllve$ ere: 1} The provlsion of advlce and Ag81918nc•, prfncipslly re1411n9 to hou61nG m$tter6, to Ih059 sn negd of sueh sarv1￿1, 2) The ￿￿10F*ment of $tr8teg1aÈ for Ihe provlslon ol accomnodalipn al fotr r•nta for por80n8 In the CharlVB ares ofoparallon. 3) The explorallon of now In1￿￿1Ve8 for tho furfhÈrano& of the Obj￿1ve￿, Includlng $pg¢lfi¢•lly Bhared own¢r$hlp and affordabl8 houslng Inlll#llvo#. 41 The op8r&ibn ol new con8trucllon lnilla1￿3 and land ae4ul8likin to ¢xpqnd Ih? comp8ThY$ porttojlo, 8tfate91¢ roport Th? follo￿n9 se¢UonB for aehbvemenls gnd pertomiancg and fln4n¢ld rth form th• 8tr81991¢ report of the oharlty. AchS•v¢ments and p•rf¢Tmanco The eompanvs finaneTral p08Won Is very Sourrd. Durtng tho prevlou$ year In¢om• a gurpluB ol ov¥r £4rnNllon aft8T IBklng Into 8ccounl a galn of £3.6 on lh$ sale ol Bell8 Vlew CourL Thls was added to roserves. In the current year 8 8urplu$ of over ￿00,000 wa¥ recorded whkh Will ba added lo reBeNe5. In septern￿r 2019 il wmmfyn¢ed d8velopmenl on a new $0¢Sal h¢uslw Bile In Gulsborough whlch was flnanced from o¥m resourcas. Tfrls was oornplotod durlr4J the year atKI now being ranted out. Eqully on ihe propèrtles is over£3 mllllon on balance sheet valueB whlch Incre?5es whBn market value IB tsken Into accounL Th• IruBleg5 ore currenly looking fcf suitable sltgs lo develop for 8oGial houBin9. Relatlonshlps wllh cy)mpanYs bankers ?Te good, wlth $upport belng glven to prop06ed d¢vglopments when a robust buslness plan Is submitted. Currenuy Ihare are no borrowlngs.Equally ccfinpany manageFnenl1g very expèrlen¢ed wlth a woven traok rocord In SOCI￿ houBing. Cleveland Houslng Trust Ltd Company Llmlted by Guarante8 Trustees. Annual Report (Incorporatlng Ihè Dlréetor's Report) (¢ontrfiuw¢lJ Year ended 31 October 2023 Fln8nclal rwlow The company ha8 8 reserve polky whfch requlres Ilquld fund8 •uffii*nt to fvnd four to fNe months •xpentliluTe In the GIr￿M$t￿Ne$ of Ihe company. The p)Iky 1$ adawalely maIntain￿ by ￿50rveS Bl th9 bdance she81 Regular 8urplu$es hav8 been achleved In recent 5PSTJ booglèd by low InltreBI rates and r￿QgOVa11on of bank bo¥iovln9. The ¢ornp2ny policy subject lo the paragr8ph above 18 to maht81n rents at an off￿￿3b1& l$v¢l. Durlno the ye8r the company sold Belle Vlaw Court fal$lno over £5 mllllgn pounds whlch has b80n Invested 18mporarlly. 11 contlnues lo look for devglopm6nl opporbJnS1ie$ for Soclal houslTVJ. All the funds arè unre8tr1cled, Includlng the Inlllal reserve of £431,819 whlch represent the accumulated surpluses of tho pr$¢urs¢r ¢harty. Cleveland Hou81no Ald Trusl prbr lo Incorporatlon. Pl#n8for fuluro p•rlod8 Th• gtr81egy 6nBures th8 publi¢ ben•fi18 01 the Chadty, n8rn•ly mgolkng * l¢Jc#l need lor afknd•blv 8odal houslngp are promoted and ¢llCOUTaged whllè not comprcrfnlslng In any way the bu8lneg8 medel on which the aollvlU8$ or* ba68d. Theie k a constanl demand lor prop8rtt88, awdènl In th dual ¢llmat• of lh& good rapulatlon of th¢ Company and Ihe nÈ8d forsoclal houslng. Aftér'somo year• of opernll¢)n Ihe ¢Dmpary hu be¢ome 8df 8ufM¢nl In provldlng Its Snaome and bulldln9 up Mger¥•s forfufvr¢ 9tsblllty. 7N•t•u' r•spon8lblllll•6 •tatgm•nt Tho INslee8, who irg also dlreolors for the pu￿08*6 ol compony law. ar¢ re$ponsibJa for preparfng th& trustses, ￿p¢*rt and Ihe fln8ncSal statements ui a¢cordance with appllcable law dnd Unlied Klngdom A¢¢ountlRg Standard$ (Unnad Klngdom Generalty ACCOp￿ Accountlng PrA¢Uc•l. Gompany law requhs Ihè ¢harfty truslo•$ lo prepaw flnanolal slaiemènts for 9￿h year thl¢h gfve Irup 8nd falr view of th8 s14le of 8ffalrs of Ihe charllable ￿1mpanY and the In￿rnIng rè8our¢es 8nd appllcatlon of resouroe$, Indudlng th? incDme and Oxpendilufo. fw that pe￿r￿, In proparlng flnanclal statements, the tsu81￿ are ￿qutred ttr. gele¢t suitablè p￿1¢￿•5 then apply Ih8m consi8t•nUy,' observe tho melhods and wlii4)18s In tho applkable Cha511108 SORP: make ludgmenis 8Gcoimllng ¥sllmate8 Ihat 8rè regsonable 8nd pNdenL' stale whether applkgble UK A¢oounling St4ndards have been followad. sublect to ary matsrfal dBPRrtLifo8 d1$clos￿ snd explAln¢d in thefinancbl statements., prepar• thg ffirkinclal 8lal8ments on thg golNJ eoneem bats58 unless il bs Inapproprtat8 to presuma Ihat tho charity WUI rnnllmio In buslnes5. Cleveland Housing Trust Ltd Company Limited by Guarantee Trustge5' Annual Report (Ineorporatlng the Directovs Roport) l¢onthu¥dJ Year ended 31 October 2023 tru6te8s are reBponslble for ke&plng adequate 8ccaunting records that we sut11cl￿1 lo show aThJ eXpl￿n the charliyw tran88ctlons and dlsclose wtlh rgasonable aGcuracy al any limg the flnand8J position of the ch￿lty and 9￿bIl them to engure Ih8t the financlal statements comply with the Companles Act 2006. They aTe also tssponsbi 18 for 8afeguorthng the assets of the chartty and hence for taklng r8950nable slep8 for tho pie¥8ntion and d8tèDtlun of fr￿d and othBr IrfeoulaAtles. Auditor Each of thg porsons who18 & truote& al tho dale ofgpproval ofthlB report conftmts that". 60 faT a8 ttw are *waT8. thgrg18 no rel8v8nt audlt tnformallon of whlch Ihp charW$ audltor18 unawar8; Bnd Ih8y h?v¢ tsken all sleps that ou9hl lo hBve taken a8 a tsusle8 to make them¥efve8 &ware ¢1 giv r818vant oudll Informallen and lo e5tabllsh that the chwlV8 audllor la owara of that Informailon. The au¢llor18 deem¢d lo havo beon re-8ppolnted In 8c¢ordan¢• wllh ¥•oUon 487 of Ihg Comp8nles Ad 2006. Th$ trusts¢8' •nnu81 ￿pOrt and thè 8tr8tegl¢ rel￿ wer8 approved on behasfof tho bo?rd of Irust•g¥ by. H Eddy Tru8tee Cleveland Houslng Trust Ltd Company Llmlted by Guaranteo Independent Audltor's Report to the Mambers of Cleveland Houslng Trust Ltd Yoar 8nd•d 31 October 2023 Oplnlo We have gudlted the fin2nokn818talements of CleveloT¥J Housng Trust Ltd Ilhg 'charfl￿ for Ihe year ded 31 October 2023 whioh comprl$o the $latement ol financlal aclivlllès Ilnoluding income and eY￿e￿&￿Jre accounll, 61&18ment of financial p¢sititsn, stal6ment of cash flows and the rdaled notes, InclL*ding a summaryof sIgn￿￿onI 8c¢ounting policies. The financl81 reporttngframework that ha8 been pllod in their preparallon Is applicable lawand Unsted KlngdoEn Ae(x)unUng Slandard6, includlng FRS 102 The Financf81 Reportlng StsrKSard oppllcablè In the UK and Republlc of Ireland (Unlled Klngdom G8naraMyAccepted Ac¢ounltrvJ Pracllcèl. In OUT opiniDn Ihg fln8ncl81 statemen18: Llve 8 true ènd fair vi•w tsf tho Slote of the affalrn as 8131 October 2023 and of Il& Ineomlng r6sour¢trs and appllcatlon of r880)Jrce8, includlng 5ts Income and èxpendltura, for the year then ended., have been PTOP8rfy preparod In ac¢urdanc• wllh Untt6d KSngdom G•nerally A￿Optsd Accounllng Practlc8,' ha￿ be•n prepamd In acc¥)rdance wllh thè requ1￿meN9 of the Comp8nle8 A¢t 2008. B••li for oplnlon Wg conducl8d our 8udll In 8¢¢ordan¢é wllh Inwnallgnttl Stonderds on Audlting IUKI IISAs IUKI) aftd opplScabla law. OUT responslbllllles undgr Ihose 8land8rdg are further de8¢rlbed in tho audilor's responslbllllle3 for the audlt of the flnanclal statemen18 seolon ol our report. We are ind•pendenl of lh& ¢harfty In a¢¢ordancg wlth the elhlcal requlrem8nls that are relevant lo our Judll of ihe financlal slelemenls In tha LIK, Includlng the FRC'S Ethlcal Slandard, and we have fulfllbd our other ￿￿]C01 regpon$lbllhlè$ In accordance ￿th the8$ r9qulremants. Wè bellevB that lh• avld8nce we hive obtalned Is $ufficl8nl and approprlalg lo provlde a bag15 (or ouroplnion. Concluilon• r#1￿[n9 to golng ¢okwern In 8vditln9 lh• ffn•ndal slÈtem8rth we have condyded that the IruBtees' of 9olng co￿&M b8$lB of 0￿￿ntIng kn the preparalbn oflhgflnandal slélefflènts Is apkyoprfaie. Ba88d on the work we have performed, wo have nol Id$ntffied any mater181 unCeTIalnti￿ re1811ng 10 ew8nls Dr ¢onditlons that, Indlvldually or collectively. m8y ￿51 $1gnttlGanl doubt on the charlty$ ablllty to ¢onlbnu8 as a golng corstem for • porlod of 8119881 ￿e1v9 monlts from when the flnaAclal statements or& 8ulhorlsed for l&suts. Our resFoll51bilities and th8 r95ponslbiifue$ of thg Iru8t¢e$ wllh respe¢l to golng conttem 8r& do¥crSbed In the relevant ¥eclk>n$ ol thls repo Cleveland Houslng Trust Ltd Company Llmlted by Guarantee Independent Aud5totrs Report lo the Member8 of Cleveland Houslng Tyvst Ltd Year ended 31 Octob&r 2023 Othor Inforniatlon The olhpr InfoTmation comprL8ès Ilte Informatlon Included Ih the Bnnugl report, other than lh8 fIna￿cIal Slalèmenls and our auéitorfs report thereon. Tho twstses are respon$lble for the other Infom)allon. Our oplnfon on the financlal stalements does not cover the ¢)th8r Informatlon and, excèpt to the Èxt6nt otherwise expllcllly stated In ourrtrport, we do not express anyforffl of a$$ur4nce etsnclU￿￿ thoreon. In ¢onnecllon ￿th Duf audli of the flnand81 stal¢ments, our ￿SpOnsIbl11ty 18 to re8d the other Informatton end, in dolng ￿, conslder whelhw the Oiher Informatlon Is materially in¢on$lstent wlth tha Iloanclel ststgments or our th0￿8￿9e oljt8lnod In th8 audll or otherwise appears lo be materlally mlsst*lod. 11 w8 Idenllfy such melerlal inconsislencièa Dr apparent matsrial mls$lalemen15, we aT8 required to 4otsTmine whether there Is a mgietl81 mi55talomoTrt In the ￿n￿cial slalemenls or a material mlF6tal&menl ol the other Informallon. If, b￿ed on ihe work wo have performed, we ronclud& lh* thwa18 a rn918Nal mLry8tal8m0nlof thls olheT InfoTmatlon, we are requlred lo rtrport that fact. We have nothlr¥J to report In Ihls regard. Oplnlon4 on othor matter8 prn•¢rlb#d by lh• Comp4n1É8 Act 2006 In OLW oplnlon, based on thè work undeitaken In the cour80 of tho gudlt thg Infomation glv9n ITh the Iru81ges' rgport for the flnonclal year for whlch Ihe fin8nc ststemgnts are pre￿redI$ con8lBtentwllh the flnandal slalements,. and tho truBleeB' r8POrt haj prgpored th 4ccorda￿ wlth applloabia1goo1 roqulremenls, Mait•rJ on whloh w• ar• requlrod to r•port by•xcoptlan In tho Ilght c*f the kmowjedgg and under8tandlng of the ¢harity and 518 envlronment obtaln8d In th8 urge of the audk, wg havè not Idanufigd materlal mls8ts19m$nts In the fru8tee¢ r￿Ort. We havg nDthlng to report In resperA gf ihe follo￿Tha mattèrs In r¢lation lo Nthlch th& Comp8nhJ A 2006 rèqulres wa lo report lo you rf, lft our oplnion.. adequats 8CCDuntln9 records hav• not bèèn kèpt. or returns ￿8quate for our audit hgva nol be8n reCe￿¢d from branch¢8 not vlslled by us; or th• flnandal $l*$ments ar• not Sn agreomefitwllh the accounllrvJ roc￿rdS retum8' or 08rtalh dlsdo8ureB of irugtee8' r¢muneration specwkd by law•r• nol m*Je' or Wo have not recelved 811 the Infomiation 8nd explanat10ns￿ requlre for our audK. Cleveland Housing Trust Ltd Company Llmlted by Guarantee Independent AudIt0￿S Report to the Members of Cleveland Houslng Trust Ltd (tontlDuedJ Year ended 31 October 2023 R¢spon5ib51ities of trLths As exp18kned mortr fully in th8 twstees, responsibfiilleg stat8Tnènt, Ihe Iruslees (who are a160 the dlrector8 for ihe purposes of company lawl are rèsponsible for ltte preparatitsn of the fina￿184 8tat8ments and for beh9 Satlsfied that Ih8y glve a true fjnd falr vlew. and for such Inlomal conlrol 3$ the truÈle88 do1¢rmi￿ Is n$¢e$$ary lo enable the PTeparatlon of flnanoial statements that aro free frorn maltsrl￿ mi5$ts1em$nL wh8therdue lo fraud OT error. In prepsrkng th8 fin8n¢lal statements, the Irusle?5 Org ro$ponsibl8 lor a888s5lng th$ ¢h&rit519 &billty to ¢onJnue as a golng concern. dls¢103ing, 88 appllcablé. m#tter$ relalad to golng concern 8nd using the golno concern basls of accountlng unles$ the trusleè$ èllher int¢nil to Ilqu5daiè thè Charity or lo t4988 opgrallons. or have no r8allslEc allemdvo t> 80. Audltorf8 rnsponslbllltleNfor the audlt of thè tlnBnclal 8tat•m•nts Our obleclho8 ar¢ to obtsln ￿890n8b1¢ #&suran¢e about ￿ether ihe financlal 8L81gmenls a$ a whole freo from materld ml$stal8m8nl, whother due lo fr4ud or erior, and to i¥euè on auditorfs report that Inclutles our oplnlon. Reasonablo assuran¢¥ 1$ a hlgh I￿81 of *s3ursn¢t, bul Is not a guar8nle6 that an 8udlt ¢onducted In accordaneo with ISAS (UK) wlll alwsys dol¢cl a materfal rnlsstalemonl ¥then il a¥lsts. MIBslatornenls can arfso from Iraud or ¢rror an(1 aFO conGldereil material rf. Individually or In tho aggro@sto, they could rea$onab5y bb expeet8d lo Influence the ?conomi¢ d¢¢E6ion8 of u$ors lakgn on the basls Df IhB5B Ilnane181 sts16ments. INegularW¢¥, Inciudin9 fraud, are In8lancts of non.compllanc4 wlth laws and r¢gulatlDfiB. We dg¥1gri proc9durg$ Ilne with our re8pon8iblllll￿, oulllr*d above, lo d8ie¢l m8terial m15sl8temenls In respect tsf Irr•gul•rlll•s. Includlng fraud. The extent lo whlGh our pmc•dure8 are capabl& of detecllng Irregu￿ritIeS, Includlng frnud18 dg18ilèd b81ow. Because of th& Inherent Ilmltslions of an audil,th8re 1$ * rlsk that we will nol datocl all Irregularllies.Indudlng those leartlng 1¢ a matsrS81 mls8lal•mont In th• ffinaTh¢lèl $18lemenls or non mpllaTW Wlh regulallon. Thls rl8k Incr¢a8e$ more Ih8t complianc& wlth a l¥w or ro9ul8liorn L8 fomoved froTn the eveTrt8 8nd tran50cllons reflected In th8 financSal $latern¢nls. 89 w• wlll beBomè108S Ilkely lo beu)m8 gware of Inslances of non u)mpli8nca. The rlsk18 ars¢ greater regard5n9 Irregularilleg accnJln9 dug lo fraud rather than error, 88 fraud Involve6 Intenltojal conc4almenl, forg•r. ￿[lUsIon, ornl$slon or m15r8pr85entsllon. A8 Pèrt of an ￿dI1 In a¢cordan¢o wtth ISAS 549,138 1.882,692 3,823,098 {37$.ts33) 6,T56,926 Net ¢a8h (u3ed Inllfrom Investing a¢llvSlles C￿h flow8 from Ilnanclng a¢tlvHI•A Pmceeds Irom borrowlngs N•1 rash used In Ihgnclng actlvlU88 17Q7,2831 1707.2831 N•t In¢réa8è In eash and calh oqulv4l•hts ¢ash 8nd ¢ash &qulvalenl$ at beylnnlng of y•ar Cash and CaBh qqulval•nt8 at 8nd of yoar 268,972 5,321,823 5,690,795 4,8È10.248 481,575 6,321,823 Th* not•$ on pa9¥5 12 to 18 form partofthe¥¢finanGlal statsm•Thts. 11 Cleveland Houssng Trust Ltd Company Llmlted by Guarantee Notes to the Flnan¢ial Statements Yaar ènded 31 October 2023 Genpral Inftsrmatlon The charity is a publlc ben¢fil entsty and a tha18 company Krnlted by gu8Mteq rogL8tsred In Englanrj and Wal85 and 8 rtrolsleTed charity In Englarnd 8nd Wal￿. Th& eddress of Iho wl$tered office Lq s￿th Htyjse, Sopwllh Clo$o. Prèston Fatm, Stockton pn Tees, TS18 3TT. Stat•rn•nt of ¢ompll$nc• Thes• flnancld st8lBrnents have been y•p8r•d In compllanc8 Wth FRS 102, The Rnancl81 Reportlng Slandald appJic?ble In the UK and th6 Republic of Ird8nd', the Statement of Recommended Praotl¢É 8ppll¢ablo to chBrRleg preparing ihelr accounts In awordanGe th8 FlnanciEI Raportlng Standard appllcabl8 In the UK ènd Republlc of lrnjand IFRS 1021 {ChariUes SORP IFRS 102)) and th¢ Comp8nb8 Act 2008. S A¢countlng Millrlgs a81s of pr•paratlo Tha flnanclal stalem8nls havfj b?Bn pr•p8red on the h151orlcal cost basls. as modified by th& rpvalualion of eertaln flnancl81 Asyets and Ilabllilles Ènd Inve$lmenl propeNle8 measured ot fatr value through In¢oFne or exp•ndSlure, Thgfln8nclal 8talomgnts ar• prepared In 81ertsngi whlch18 thè fun￿lon81 currency gf the enuty, Golng conc•rn Thera aro rto malarf81 un¢èrtdntle8 about Iho d)8rfV• oblllty lo ¢ontlnue. Fund a¢¢ountln9 Unfestrlcted funds aro avallgbl$ for use ¥1 the dlgcY•llon of Ihg tru8tee8 Lo fLWther any of Ihg chaTiWs purpo$88. Deslgn&ied fundg arg unrestrkted fur￿3 Mrmarked by tho Iru8tè•s for p?rtlwlwfu￿rQ project or commilmenl. ReslTlcW funds aro 8uk4e¢t¢d to re&lrtcllonfy oh thelr exp8ndllure d8cl8red by thts donor or Ihrouoh the l&rm8 of an apppal. and fau Inb one of ￿ Sub410￿8. rèstricted Inoome fund8 Qr 8ndowm*nt funds. .12- Cleveland Housing Trust Ltd Company Llmlted by Guarantee Notès to the Flnanclal Statements (¢¢¥nfyrtts¢dJ Y¢ar ended 31 October 2023 A¢¢ounling pollcae8 (¢?nllnu•d) In¢onJlng rosourr All incorn￿9 resour￿ @re induded In the stalemonl of flnondal act1￿￿$$ whgn eTrlM8ment ha8 passed to the ¢harfty,11 Is probable that the economSc benefits 85sodated with thè Ir8nsaction ￿11 flow lo th8 oharlty and the arnounl Can be rellably m8a6ured. The followlng #pec￿{C pollcitss are pplled lo parUEular categDrTe8 of in¢tsm& In¢ome from donauons or gr)nis 1$ reMgnls8d Iher818 ovidenc& of enullernent to tho glfl rBcelpt18 Probable and Ils amount cgn b& mea$urgd rollably. legacy Income Is recogntsed vthen re￿IPl Is probabl6 and entilement * 8stablk4hed. Income from donated goods is m8asured at fair valu& of tha 9cod$ unless IhE8 18 lrnpTrcllcal lo measure rell8bly, In whlBh c8S8 th• valuB18 derlved from the cost lo the donor or Ihe e81imal&d resale Value. Donated laclliliès and ¥er¥lce8 ar6 fecognlsed In the accounts when receiv•d rf th8 value cin bg fdlably m•4•Ltred, No Èmounis ore induded lor Iho conlrlbullon of ￿neral volunteers. In¢omo from conlrath for the supply of 6ervlce$ la r6c¢gnlsed th& dellvery Df th8 contracted 8ervlce. Th13 18 as unr85trTcled fund¥ unless Iht)r8 18 a conlr8dug1 requlremonl for11 lo bg spent on 8 parti¢ular puTposB end Tgturnod If un8P8nl, In ￿l1¢h case It maybe reggrded as r¢8trtcled. R•8OUToe• exp•nd•d Expendlture ts rec¥Jgftls8d on an Aceru*s ba)15 AS o Ilablllty 1$ IncJJrred. Expendttur4 Includes ony VAT whlch cannot be fully recoverod. and IB da¥Bir￿d under h•adSng8 of th6 slalomgnl of fmonciql &clIv￿89 tD whlch11 ￿]8188,. expendllur¢ on raiBlrwd fund6 IndudBs ￿¥ts of dl lundralBlng acllv5tleo. gv8ni8, non- ¢h8rltable Iradlro aGllv51i98, and sale of donal&d good8. exp8TrdkbJre on charllable 8CtwltS9s Inclu¢&8 all costs Inourred by a ¢h9rfty In undertaklng actlvilies that further its ehbntable alms foT the b8n•flt of Ils beneficiarlèg, Including those support ¢08ts and costs rolating to the govemance of the charlty 8PPDrtlonod to charltablo 8ctlvllles. ether expendliure Inelud¢s dl exptndtture Ihel Is n8Ethor relBted lo rafBlng funds for th8 charlty nor part of expendltura on charlta￿e ècllvSties. l Gosts am allocgtad to 8XPgnditura catewr￿S r&fip¢llng th8 u60 of the re8T)urce. Dlreet C0515 trlbuloble lo a Bingle acllvity ar8 alEocAtod dlrecly to Ihat activity. Shared costs are apportloned be￿Pen the aBtMlle$ Iheyconlrlbute to on a rea$onabl¢, luslthable and ¢?nsl$lent baBIs. Tangible 89981$ Tanglbla ass815 are Inlllally record￿ * ctssi. and subsèryuenuy staled 81 east fess Sny accumulaled d¥procla￿0￿ and Impalrment 10$sos. Any t8nplbl& assets c4rrlgd at ￿valued amount8 aro re¢orded ai the falr vBlue al the dale of revalu8lKJn lèss any $ub68quenl accumu18tsd depredatth and Subsequent aGcumulat8d impBirmentlosE•S. 13. Cleveland Housing Trust Ltd Company Limited by Guarantee Notes to the Flnancial Statemènts (wnllnuerfj Year ended 31 October 2023 A¢¢ountln9 pollcles (Got￿111￿• Tanglblè ass•lB An Itw&ase In ths carrying amount of an •sset as 8 Tesull of 8 revaluallon. 1$ ie¢ggnFsed in oth rettOgn￿ed g￿n8 and kjsses, unless il reverses a charge for Impalrmenl that has pr8vlously been rÉcognls&d ag expgndllure wthln tho ststemenl of firkandgl aCt￿lI1e8. A deGr&as8 in the Car￿ng 6mount of 8n 8ssel 99 a re8uII of revaluaton, Is rocognised In olh8r r9cognised g4ns and105sey, oxcept to whlch tt offsets any proviou8 rèvaluolh)ft oain, in Mfjilch caB8 the loBs 18 shown vAthin othgr r2cognlg¥d galns ond10$s85 on the Slal•ment glflnanclal act1￿tIeS, •preclatlon DepTecIBlhM l& catoulatsd 80 a8 to ￿te off the ¢oai fx v3kJalion of an aSGOt. le$9 its roBldual vAlutr, over u88ful economlc Iwe of that asB8t as foHows.' 2% rnducin9 tsal¥nc8 10% reduclng balancg InTrpalmi•nt of Ilxed a860ts A re￿eW for Indlcator8 of Impalrment 18 ¢6rrfèd Lmrt al gach reportlng dat•, ￿th the f8¢ov6rable Amount belng 85tlmated where such Indlc4torÈ ex181. Whgre Ihe ¢arWT¥J valu8 exceeds tho reooverablo amount, tho 885et Is irnpaligd •¢¢ordlngly. Prlor Impatrm•nts are also ravlmd for posslbl• r•ver581 aleaeh r•portlng dale. For tho purpoBfj8 of ImpalrmBnt testlngs whon 1118 not po•Blble to 8&Umale thts iecovor8bl8 amount of •n indfvidual asset, an ¢sllmak Is mada of the recgverable amount ol tho ca8 08neratlng unll le whloh the a8sel be1C￿g¥. The ca6h-g¢nor8llnu unll 18 the sm81198t Idenllflabl& roup of aBso1$ that Includes lh8 89sel and oènerate8 c•att Inlows Ih8t largely Indepon¢Jonl of th? cash Inllr)w8 trom other assets or group8 of assots. For Impplrmenl le8llrKJ of goodwln, the go¢dMII a¢qulred In a busln*B$ eomblnatlon18, from lh• acqu15I1ion date, allocaEa(J 1¢ each of the c#shfeneraling wilts that grè oxpecied lo benefft from the 6ynorgles of the combln811¢fj. Irrespectl￿ of vthether Othgr 88sèis or118bllrfe8 of the th8rfty are a58lgntd lo Ihg5s unl1$. Fln4ncl•l Instruments A financlal 8$8el PT 4 fI￿nCIal liab￿lty Is r•cognlBed only than Ihp ch¥lty becomos g P8rty tp tho eontraciual prov191onts afthe Instrument. Ba810 ffinanclal instruments ore Inttlally recowlsed al th? •mounl r8¢elv#bl• or paydble tndudlng any related tr*nsactlon c()815. Currant assets and ¢UFreni llablllUe$ are Sub8￿￿entlY measured at the cash or othar con81darallon expe¢tèd ID be pard or r8¢8iveil and nol discounted. Debt instruments 8rè sttseouently massured atamorttsad COBL Wh8re Investm•nts In shares ara publicly traded or Ihelr tslr value can otherwise bo rne85UTed rellably, the Investment Is 8ubsequenily measurecl at falr v8lue wllh changes In falr value r•wgni5Ed in In¢cime and expÈndilLsr&. All olhèr such Inve$lments $re subsequenuy moasured al cost less Impalrrnenl. 14- Cleveland Houslng Trust Ltd Company Limitsd by Guarantee Note$ to the Financlal Statements (¢oniknu Year ended 31 October 2023 A¢¢ounttng poll¢les Flnanel81 In8trumonts ltontlryu Olhgr Itnandal Instruments, Including derivatives, are Inlt'ajty rec¢gnLwd at falr valuè, unle6s pa￿ne￿I for an ass?11s ￿￿erred beyond normal bu8lneBs terms or financed at a rate of Inter981 that Is rJDt a mark8t r8ie, in whl¢h cas9 th8 08£81 Is measured 8t Ihp pre8enl valu8 of lh8 futura p8ym¢nts dls¢wnled al a market rate of Int￿stfor 8 slmll¥r debt InBtnJmenl. Other financlal instruments Bra $ybsequ6nlly mtrasur￿ 4t lÈlr value, wllh 8rny ¢heryès re¢ogn18ed In the statement of flnan¢lal 8cllvllle$, with Ihfr excoptlon ol hedgTrng In$lrum•nls In a dèsl9n8tèd hèdglng relallonship. Flnan¢l81 a$se18 tho1 ere m898ured al cost or amortlsed eos1 ara revlew8d for objective evidence of Impairment al th& end ¢f eaah rtsportlng d81e. If there is obledva 8vidence ol Impairment. an Impalrrnenl loss 18 r8co9nlsad undèr Ihe approprlalo heading In the slalernent of flnanaal a￿1vIlle3 In whlch the Ifittl￿ galn was recounl$ed. For all equily instruments regardloss of $Ignif￿anC8, and olher flnancld ass$lg that Bro Individually signrftcanl, thp80 4¢¢ 0$se$5ed Individuallyfor Impalrmlnl. Other llnanclel assets Bre 911h•r 8SS@88ad Indivlduelly or grouped on tho ba$1& of $lm118r ¢redll rlsk tharacteri811c6. Any revtr$als ol Impalrrnenl arg recognk4d lrnmedlal•ty. lo tha extent that lh• roversal does not rasull In a ¢arrylng amounl of Ihe fin4n¢lal essèt th•1 excied8 whel th? cwryin9 arnounl would h8v& beèn h8d thè Impalrrnenl ng1 pr¢vlously been recognls¢d. Llmlt•d by 9u•rante• Tho Ileb115ty01 Iru$t•os 55 Ilmlled lo £10 In the 8venl that the eompanylj wound up, Donatlons and14gKI•s Uwestr1¢18d Total Fund8 Unreslrlcled Tota1 Funds Fundy 2023 FundB 2022 Doftatlong Donallons 3,612 3,612 Inveptment InGom8 UnrfjBlrlcled Total Funds Unre5tr1cted Total Fund$ Fund$ 2023 Funds 2022 Soclal hou61ng rgnb and chargas 8ank Inte￿51 411.049 98,3T8 507.427 411,049 96,378 B07,427 549.136 10,277 659,413 S49,138 10,277 559,413 Cleveland Houslng Trust Ltd Company Limlted by Guaranteè Notes to the Financial Stataments (conrthu Yoar ended 31 October 2023 Managament ¢osts of propertl Unr¢8tricted Totol Funds Unro8lricted Tot81 Funds Fund5 2023 Funds 2022 Costs of raising donations 8nd lego¢1•$ - Olhertyp8 1 264,261 284261 282.63T 282,637 Expanditurg on charltsbl• ￿tIVItI•￿ byfund type Unrostrictqd Total Funds Unrestricted Total Funds Fund 2023 Fund$ 2022 Support costB 1,224 16,457) Expondltur¢ gn oherStablg 8CtlYltI￿ by actl￿tY typ• Total funds 2023 TDtal fund 2022 Support eosi$ Governar￿ 1,224 1,224 {5.457) 10. N•t galnè on Inv•Jtm•nts Unrestrl¢led Total Fund¥ Unrestrioted Tots1 Funds Funds 2023 FundB 2022 GaSn$ on 8810 d propety 3,825,098 3.825,098 11. N•t Incom• Not Incomè ly 8tated ¢harglnol(credStlngl: 2023 2022 Depr•¢l8tltrn of t8ngJblefLx•d ￿￿ets 61.828 82,298 The total &tgff COSis and 8mploy80 benofjls for th? reporllng perfod 8r• an81y8￿ 8$folloM: 2022 Wages and Balarfe5 othoremployeg b¢n•fitB 34902 39,191 76,093 55,2&5 30.216 85,611 average head oount of empk)ye85 durlng the year was 412022.. Nnl. No em￿oyee recelved employee benefits of m¢re than £00,000 thring lh8￿r (202*. NII). -16. Cleveland Housing Trust Ltd Company Limited by Guarantse Nolès to the Flnanclal Statements (contlnuo Year ended 31 O¢tober 2023 13. Trustee r•muneratk>n arml èxp•ns¢s No TemunsTrllon was pai<1 lo tNste6s. DurFng th8 finandAI y88r J B Parkin recefved £4812019 £1,270) In expenseB. 14. Tanglbl?flxed as8Qt8 Land and buildirfjs Egulpm$nt Total C05t At l Novembpr 2022 A