COMPANY REGISTRATION NUMBER: 03199863
CHARITY REGISTRATION NUMBER: 1059437
Cleveland Housing Trust Ltd
Company Limited by Guarantee
Financial Statements
31 October 2024
WM FORTUNE AND SON
Chartered accountants & statutory auditor
Collingwood House
Church Square
Hartlepool
TS24 7EN

Cleveland Housing Trust Ltd
Company Limited by Guarantee
Financial Statements
Year ended 31 October 2024
Page
Trustees, annual report (incorporating the directorfs report)
Independent auditorfs report to the members
Statement of financial activities (including income and
expenditure account)
Statement of financial position
Statement of cash flows
10
11
Notes to the financial statements
12

Cleveland Housing Trust Ltd
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Director's Report)
Year ended 31 October 2024
The trustees, who are also the directors for the purposes of company law. present their report and the
financial statements of the charity for the year ended 31 October 2024.
ChaSrfs report
The objectives of the Trust are set out below.
Although the company is constantly increasing its revenue stream by bringing new properties into
occupation it has been able to keep down individual rents to the benefit of its tenants.
During the year the company completed a social housing development in Guisborough and stsrted
renting out the properties.
Reference and administrative detalls
Registered charity name
Cleveland Housing Trust Ltd
Charity reglstration number
1059437
Company registratlon number 03199863
Prlnclpal offlce and registered Sopwith House
office
Sopwith Close
Preston Farm
Stockton on Tees
TS18 3TT
The trustees
H HEddy
Mrs G Bum
limited
Audltor
Wm Fortune and Son
Chartered accountants & statutory auditor
Collingwood House
Church Square
Hartlepool
TS24 7EN

Cleveland Housing Trust Ltd
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 October 2024
Structure, govérnance and management
The Trust is a Registered Charitable Company, limited by guarantee, incorporated on 16th May 1996.
1)Twstees are selected by the board on the basis of suitability and experience.
2)Trustees are instructed in the aim and objectives of the Charty and informed of their legal and
statutory obligations.
3) The management of the company is the responsibility of the Trustees, who are required to meet at
regular intervals (at least once a year) and more often rf required. Day to day management is carried
out by staff who are employed by the charity.
Objectlves and activities
The principal objectives are:
1) The provision of advice and assistance, principally relating to housing matters, to those in need of
such services.
2) The development of strategles for the provision of accommodation at fair rents for persons In the
Charitvs area of operation.
3) The exploration of new initiatives for the furtherance of the objectives, including specifically shared
ownership and affordable housing initiatives.
4) The operation of new construction initiatives and land acquisition to expand the companys portfolio.
Strateglc report
The following sections for achievements and performance and financial revlew form the strategic
report of the charity.
Achlevements and performance
The companls financial position is very sound. During the p￿viouS year income a surplus of £241,942
was recorded. Thls was added to reserves. In the current year a surplus of over £236,955 was
recorded which will be added to reserves. During the year it finalised the development on a new social
housing site in Guisborough which was financed from own resources. The properties are now being
rented out and a waiting list has already formed. Equity on the properties is over £3 million on balance
sheet values which increases when market value is taken into account. The twstees have acquired
land for development and are looking for other suitsblesuitable sites to develop for social housing. The
cash reserves stand at over £5 million following the sales of Belle View Court two years ago and the
money will be used to finance new social housing developments.
Relationships with the companys bankers are good. vrith support being given to proposed
developments when a robust business plan is submitted. Currently there are no borrowngs.Equally
company management is very experienced with a proven track record in social housing.

Cleveland Housing Trust Ltd
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Directors Report) (Continued)
Year ended 31 October 2024
Financial review
The company has a reserve policy which requires liquid funds sufficient to fund four to five months
expenditure in the circumstances of the company. The policy is maintained by reserves at the balance
sheet date.
Regular surpluses have been achieved in recent years boosted by low interest rates and renegotiation
of bank borrowing. The company policy subject to the paragraph above is to maintain rents at an
affordable level. Two years ago the company sold Belle View Court raising over £5 million pounds
which has been invested temporarily. It continues to look for development opportunities for social
housing.
All the funds are unrestricted, including the initial reseNe of £431.819 which represent the
accumulated surpluses of the precursor charity . Cleveland Housing Aid Trust prior to incorporation.
Plans for future perlods
The strategy ensures the public benefits of the Charity, namely meeting a local need for affordable
social housing, are promoted and encouraged while not compromising in any way the business model
on which the activities are based.
There 18 a constant demand for properties, evident In the dual climate of the good reputation of the
company and the need for social housing.
After some years of operation Ihe company has become self sufficient in providing its income and
building up reserves for future stability.
Trustees, responslbilities statement
The trustees, who are also directors for the purposes of company law, are responsible for preparing
the trustees, report and the firiancial statements in accordance with applicable law and United Kingdom
Accounting Standards (United Kir@dom Generally Accepted Accounting Practice).
Company law requires the charity trustees to prepare financial statements for each year which give a
true and fair view of the state of affairs of the charitable company and the incoming resources and
application of resources. includlng the income and expenditure, for that period.
In preparing Ihese financi81 statements, the trustees are required to:
select suitable accounting policies and then apply them consistently,
observe the methods and principles in the applicable Charities SORP",
make judgments and accounting estimates Ihat are reasonable and prudent:
state whether applicable UK Accounting Slandards have been followed, subject to any material
departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume
that the charity will continue in business.

Cleveland Housing Trust Ltd
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Director's Report) (¢ontinuedl
Year ended 31 October 2024
The trustees are responsible for keeping adequate accounting records that are sufficient to show and
explain the charitys transactions and disclose with reasonable accuracy at any time the financial
position of the charity and enable Ihem to ensure that the financial slatements comply with the
Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence
for tsking reasonable steps for the prevention and detection of fraud and other irregularities.
Auditor
Each of the persons who is a trustee at Ihe date of approval of this report confirms that:
so far as they are aware, there Is no relevant audit information of which the charitys auditor is
unaware,. and
they have taken all steps that they ought to have taken as a trustee to make themselves aware of
any relevant audit information and to establish that the charitys auditor is aware of that
information.
The auditor is deemed to have been re-appointed in accordance with section 487 of the Companies
Act 2006.
The trustees, annual report and the strategic report were approved on 16 December 2024 and signed
on behalf of the board of trustees by.
H Eddy
Trustee
Charity Secretary

Cleveland Housing Trust Ltd
Company Limited by Guarantee
Independent Auditor's Report to the Members of Cleveland Housing Trust Ltd
Year ended 31 October 2024
Opinion
We have audited the financial statements of Cleveland Housing Trust Ltd (the 'charitl> for the year
ended 31 October 2024 which comprise the statement of financial activities (including income and
expenditure account), statement of financial position, statement of cash fEows and the related notes,
including a summary of significant accounting policies. The financial reporting framework that has
been applied in their preparation is applicable law and United Kingdom Accounting Standards,
including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland
(United Kingdom Generally Accepted Accounting Practice).
In our oplnion the financial statements:
give a true and fair view of the state of the charitys affairs as at 31 October 2024 and of its
incoming resources and application of resources, including its income and expendilure, for the
year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practice;
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for oplnlon
We conducted our audlt in accordance wrth Intemational Standards on Auditing (UK) (ISAS (UK)) and
applicable law. Our responsibilitles under those standards are further described in the auditorfs
responsibilities for the audit of the financial statements section of our report. We are independent of
the charity in accordance with the ethical requiremenls that are relevant to our audlt of the financial
statements in the UK. including the FRC'S Ethical Standard, and we have fulfilled our other ethical
responsibilities in accordance wilh these requirements. We believe that the audit evidence we have
obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concorn
In auditing the financial statements, we have concluded that the trustees, use of the going Goncern
basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed. we have not identified any material uncertainties relating to
events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to
continue as a going concern for a period of at least Iwelve months from when the financial statements
are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described
in the relevant sections of this report.

Cleveland Housing Trust Ltd
Company Limited by Guarantee
Independent Auditor's Report to the Members of Cleveland Housing Trust Ltd
(continued)
Year ended 31 October 2024
Other informatlon
The other infomiation comprises the information included in the annual report, other than the financial
statements and our auditor's report thereon. The trustees are responsible for the other information.
Our opinion on the financial statements does not cover the other information and, except to the extent
otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In Connection with our audit of the financial statements, our responsibility is to read the other
information and, in doing so, consider whether the other information is materially inconsistent with the
financial statements or our knowtedge obtained in the audit or otherwise appears to be materially
misstated. If we identify such material inconsistencies or apparent material misstatements, we are
required to determine whether there is a material misstatement in the financial statements or a
material misstatement of the other information. If, based on the work we have performed, we conclude
that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
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 trustees, report for the financial year for which the finanGial
ststements are prepared is consistent with the financial ststements; and
the trustees, report has been prepared in accordance with applicable legal requirernents.
Matters on which we are requSred to report by exceptlon
In the light of the knowledge and understanding of the charty and its environment obtalned In the
course of the audit, we have not identified material misstatements in the trustees, repDrt.
We have nothing to report in respect of the following matters in relation to which the Companies Act
2006 requires us to report to you rf, 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 specif￿1 by law are not made. or
we have not received all the information and explanats'ons we require for our audit.

Cleveland Housing Trust Ltd
Company Limited by Guarantee
Independent Auditor's Report to the Members of Cleveland Housing Trust Ltd
(¢ontinued}
Year ended 31 October 2024
Responslbilities of trustees
As explained more fully in the trustees. responsibilities statement, the trustees (who are also the
directors for the purposes of company law) are responsible for the preparation of the financial
statements and for being satisfied that they give a true and fair view, and for such Intemal control a5
the trustees determine is necessary to enable the preparation of financial ststements that are free from
material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitys abilily to
continue as a going concern, disclosing, as applicable. matters related to going concern and using the
going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease
operations. or have no realistic alternative but to ¢Jo so.
Audltorf8 responsibilities for the audlt of the flnanclal statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole
are free from material misstatement, whether due to fraud or error. and to issue an auditor's report that
includes our opinion. Reasonable assurance is a high level of assurance, but is not a guaranlee that
an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it
exists. Misstatements can arise from fraud or error and are considered material rf, individually or in the
aggregate, they could reasonably be expected to influence the economic decisions of users taken on
the basis of these financial statements.
Irregularities, includlng fraud, are instances of non-compliance with laws and regulations, We design
procedures in line wilh our responsibilities, outlined above, to detect materlal misstatements in respect
of irregularities, including fraud. The extent to which our procedures are capable of detecting
irregularities, including fraud is detailed below:
Because of the inherent limitations of an aUdIt,the￿ ts a risk that we will not detect all
irregularities,including those leading to a material misstatement in the financial statements or non
compliance wth regulation. This rÉsk increases the more that compliance with a law or regulation is
removed from the evenls and transactions reflected in the financial statements, as we will become less
likely to become aware of instances of non compliance. The risk is also greater regarding irregularities
accruing due to fraud rather than error, as fraud involves intentional COn￿alment, forger, collusion,
omission or misrepresentation.
As part of an audit in accordance with ISAS (UK), we exercise professional judgment and maintain
professional scepticism throughout the audit. We also:
Identify and assess the risks of material misstatement of the financial statements, whether due to
fraud or error, design and perform audit procedures responsive to those risks, and obtain audit
evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not
detecting a material misstatement resulting from fraud is higher than for one resulting from error,
as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override
of intemal control.
Obtain an understanding of internal control relevant to the audit in order to design audit
procedures that are appropriate in the circumstances, but not for the purpose of expressing an
opinion on the effectiveness of the internal control.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting
estimates and related disdosures made by the trustees.

Cleveland Housing Trust Ltd
Company Limited by Guarantee
Independent Auditor's Report to the Members of Cleveland Housing Trust Ltd
(continued)
Year ended 31 October 2024
Conclude on the appropriateness of the trustees. use of the going concern basis of accounting
and, based on the audit evidence obtained, whether a material uncertainty exists related to
events or conditions that may cast significant doubt on the charitys ability to continue as a going
concern. If we conclude that a material uncertainty exists. we are reqLJired to draw attention in our
auditorfs report to the related disclosures in the financial statements or, rf such disclosures are
inadequate, to modtfy our opinion. Our conclusions are based on the audit evidence obtained up
to the date of our auditor's report. However, future events or conditions may cause the charity to
cease to contlnue as a going concern.
Evaluate the overall presentation, strudure and content of the financial statements, including the
disclosures, and whether the financial statements represent the underlying transactions and
events in a manner thal achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, th8 planned
scope and timing of the audit and significant audit findings, including any significant deficiencies In
Internal control that we identfy (luring our audit.
Use of our report
This report is made solely to the charIt￿S members, as a body, In accordance with Chapter 3 of Part
16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the
charitys members those matters we are required to state to them in an auditor's report and for no
other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility lo
anyone other than the charity and the charitys members as a body, for our audit work, for this report,
or for the opinions we have formed.
Thomas Atkinson (Senior Statulory Auditor)
For and on behalf of
Wm Fortune and Son
Chartered accountants & statutory auditor
Collingwood House
Church Square
Hartlepool
TS24 7EN
16 December 2024

Cleveland Housing Trust Ltd
Company Limited by Guarantee
Statement of Financial Activities
(including income and expenditure account)
Year ended 31 October 2024
2024
Unrestricted
funds Total funds Total funds
2023
Notg
Income and endowments
Investment income
582.936
582,936
582,936
507.427
Total income
582,936
507,427
Expenditure
Expenditure on raising funds-
Management costs of properties
Expenditure on charitable activities
Total expenditure
345,981
345,981
264,261
1,224
265.485
345.981
345,981
Net income and net movement In funds
236,955
236,955
241,942
Reconclllatlon of funds
Total funds brought for¥vard
Total funds carrled forward
9,538,622
9,775,577
9,538,622
9,296,680
9,538.622
9,775,577
The 5tstement of financial activities indudes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The notes on pages 12 to 18 fomi part of these financial stalements.

Cleveland Housing Trust Ltd
Company Limited by Guarantee
Statement of Financial Position
31 October 2024
2024
2023
Noie
Fixed assets
Tangible fixed assets
12
3.970,590
3.817.064
Current assets
Debtors
Cash at bank and in hand
13
101,941
5,739,133
5,841,074
162,227
5,590,715
5,752,942
Creditors: amounts falllng due within one year
Net current assets
14
36,087
31,384
5.721,558
5,804,987
9,775,577
9,775,577
Total assets less current liabilities
9,538,622
9.538,622
Net assets
Funds of the charlty
Unrestricted funds
9.775,577
9,775,577
9,538,622
Total charlty funds
15
9,538,622
These financial statements were approved by the board of trustees and authorised for Issue on 16
December 2024, and are signed on behalf of the board by.
H Eddy
Trustee
The notes on pages 12 to 18 forni part of these financial statements.
10-

Cleveland Housing Trust Ltd
Company Limited by Guarantee
Statement of Cash Flows
Year ended 31 October 2024
2024
2023
Cash flows from operating actlvltles
Net income
236,955
241.942
Adjustments for..
Depreciation of tanglble fixed assets
Dividends, interest and rents from investrnents
Other interest receivable and similar income
Accrued expensesl(income)
81,967
61,826
{403,292) (411,049)
{179,644)
(96.378)
2,040
(65,562)
Changes in..
Trade and other debtors
Trade and other creditors
60,286
2,663
(199,025)
791,163
27.185
Cash generated from operatlons
549,127
Interest received
179,644
(19,381)
96,378
645,505
Net cash (used in)Ifrom operating activities
Cash flows from investlng activities
Dividends, interest and rents from investments
Purchase of tangible assets
Net cash froml(used in) investing activities
403,292
411,049
(235,493) (787,582)
167,799
(376,533)
Net Increase In cash and cash equivalents
Cash and cash equlvalents at bèglnnlng of year
Cash and cash equlvalents at end of year
148,418
6,590.715
5,739,133
268,972
5,321,823
5,590,795
The notes on pages 12 to 18 fomi part of these financial statements.
11

Cleveland Housing Trust Ltd
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 October 2024
General Information
The charity is a public benefit entity and a private company limited by guarantee, registered in
England and Wales and a registered charity in England and Wales. The address of the registered
office is Sopwith House. Sopwiih Close. Preston Farm. Stockton on Tees, TS18 3rr.
Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial
Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of
Recommended Practice applicable to charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities
SORP (FRS 102)) and the Companies Act 2006.
Accounting policies
Basis of preparation
The financial stetements have been prepared on the historical cost basis, as rnodrfied by the
revaluation of certain financial assets and liabilities and investment properties measured at fair
value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charityls ability to continue.
Fund accountlng
Unrestricted funds are available for use at the discretion of the trustees to further any of the
charitsls purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or
commitment.
Restricted funds are subjected to restrictlons on their expenditure declared by the donor or
through the tems of an appeal, and fall into one of hvo sub-classes: restricled income funds or
endowment funds.
12-

Cleveland Housing Trust Ltd
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 October 2024
Accountlng policies (continuodj
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has
passed to the charity; it is probable that the economic benefits associated with the transaction will
flow to the charity and the amount can be reliably measured. The following specrfic policies are
applied to particular categories of irKome:
income from donations or grants is recognised when there is evidence of entitlement to the
grft, receipt is probable and its amount can be measured reliably.
legacy income is recognised when receipt is probable and entitlement is established.
income from donated goods is measured at the fair value of the goods unless this is
Impractical to measure reliably. in which case the value is derived from Ihe cost to the donor
or the estimated resale value, Donated facilities and services are recognised in the accounts
when received rf the value can be rellat￿Y measured. No amounts are Included for the
contribution of general volunteers.
income from contracts for the supply of services is recognised with the delivery of the
contracted seNice. This Is classified as unrestricted funds unless there is a contractual
requirement for it to be spent on a particular purpose and returned if unspent, in which case
it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any
VAT which cannot be fully recovered, and is classified under headings of the statement of
financlal activities to which it relates:
expenditure on raising funds includes the costs of all fundraising aciivilies, events, non-
charitable trading activities. and the sale of donated goods.
expenditure on charrlable activrties includes all costs incurred by a chartty in undertaklng
aclivities that further its charitable aims for the benefit of its beneficiaries, including those
support COSts and costs relating to the govemance of the charity apportioned to charitable
activities.
other expenditure includes all expenditure that is neither related lo raislng funds for the
charity nor part of Its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs
attributable to a single activity are allocated directly lo that activity. Shared costs are apportioned
between the activities they contribute lo on a reasonable. justtfiable and consistent basis.
Tanglble assets
Tangible assets are initially recorded at cost. and subsequently stated at cost less any
accumulated depreciation and impairment losses. Any tangible assets carried at revalued
amounts are recorded at the fair value at the date of revaluation less any subsequent
accumulated depreciation and subsequent accumulated impairment losses.
13-

Cleveland Housing Trust Ltd
Company Limited by Guarantee
Notss to the Financial Statements (Gonflnued)
Year ended 31 October 2024
Accounting pollcies (¢ontinuod)
Tangible assets (Gontlnu
An increase in the carrying amount of an asset as a result of a revaluation. is recognised in olher
recognised gains and losses, unless it reverses a charge for impairment that has previously been
recognised as expenditure within the statement of financial activities. A decrease in the carrying
amount of an asset as a result of revaluation. is recognised in other recognised gains and losses,
except to which it offsets any previous revaluation gain, in which case the loss is shown wilhin
other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual
value, over the useful economic life of that asset as follows:
20kn reducing balance
100h reducing balance
Impaimient of fixed assets
A review for indicators of impairment Is carrled out at each reporting date, with the recoverable
amount being estimated where such indicators exist. Where the carrying value exceeds the
recoverable amount, the asset is impalred accordingly. Prior impairments are also reviewed for
possible reversal at each reporting date.
For the purposes of Impairment testing, when it is not possible to estimate the recoverable
amount of an individual asset, an estimate is made of the recoverable amount of the cash-
generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable
group of assets that includes the asset and generates cash inflows that largely independent of the
cash inflows from other assets or groups of assets.
For Impairmenl testing of goodwli l. Ihe goodwlll acquired in a business combination is, from the
acquisition date. allocated to each of the caSh￿enerating units that are expected to benefit from
the synergies of the combination. irrespective of whether other assets or liabilities of the charity
are assigned to those units.
Flnanclal Instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the
contractual provisions of the instrument.
Basic financial instruments are initially recognise(l at the amount receivable or payable including
any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other
consideration expected to be paid or re￿iVed and not discounted.
Debt insÉwments are subsequently measured at amortlsed cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured
reliably, the investment is subsequentiy measured at fair value with changes in fair value
recognised in incorne and expenditure. All other such investments are subsequently measured at
cost less impairment.
-14-

Cleveland Housing Trust Ltd
Company Limitsd by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 October 2024
Accounting policies (contlnuedj
Financlal Instruments (¢ontlnuedJ
Other financial instruments, including derivatives. are initially recognised at fair value, unless
payment for an asset is deferred beyond normal business terms or financed at a rate of interest
that is not a market rate, in which case the asset is measured at the present value of the future
payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes
recognised in the statement of financial activities, with the exception of hedging instruments in a
designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence
of impairment at the end of each reporting date. If there is objective evidence of impairment, an
impairment loss is recognised under the appropriate heading in the statement of financial
activities in which the initial gain was recognised.
For all equily instruments regardless of stgnificance, and other financial assets that are
individually significant, these are assessed individually for impairment. Other financial assets are
elther assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of imp8irment are recognised immediately, to the exlent that the ￿VerSal does not
result in a carrying amount of the financial asset that exceeds what the carrying amount would
have been had the impainnent not previously been recognised.
Limited by guarantee
The liability of trustees is limited to £10 in the event that the company Is wound up.
Investment Income
Unrestricted Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Social housing rents and charges
Bank interest
403,292
179,644
403,292
179,644
411.049
96.378
411,049
96,378
507,427
582.936
582,936
507,427
Management costs of properties
Unrestricted T¢)tal Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Costs of raising donations and legacies
- Other type 1
345,981
345,981
264,261
264,261
15-

Cleveland Housing Trust Ltd
Company Limited by Guarantee
Notes to the Financial Statsments (continuedl
Year ended 31 October 2024
Expenditure on charitable actlvltlas by fund type
Unrestricted Totsl Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Support costs
1,224
1,224
Exp•ndlture on charitable actlvltles by activity type
Total funds
2024
Total fund
2023
Governance costs
1,224
Net income
Net income is stated after chargingl(crediting):
2024
2023
Depreciation of tangible fixed assets
81,967
61,826
10. Staff Costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
2024
2023
Wages and salaries
Other employee benefits
47,747
30,460
78,207
35.902
39,191
75.093
The average head count of employees during the year was 3 {2023: 4>.
No employee received employee benefits of more than £60,000 during the year {2023: NII).
11. Trustee remuneratlon and expenses
No remuneration was paid to trustees.
During the financial year the Irustees were reimbursed travelling expenses at the authorised rate.
-16-

Cleveland Housing Trust Ltd
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 October 2024
12. Tangible fixed assets
Land and
buildings
Equipment
Total
Cost
At 1 November 2023
Additions
4,534,184
235,493
188,900
4,723,084
235,493
4.958,577
Af 31 October 2024
4,769.677
188,900
Depreciation
At 1 November 2023
Charge for the year
At 31 October 2024
717.120
81.967
188.900
906,020
81,967
987,987
799.087
188,900
Carrying amount
At 31 October 2024
3,970,590
3,970,590
3.817,064
At 31 October 2023
3,817.064
13. Debtors
2024
2023
Trade debtors
Amounts owed by group undertakings
102,549
59,678
101,941
101,941
162,227
14, Creditors: amounts falling due wlthln one year
2024
2023
Trade creditors
Accruals and deferred income
Social security and other taxes
Propety bonds
28,370
5,040
1,477
1,200
36,087
25,707
3,000
1,477
1,200
31,384
17-

Cleveland Housing Trust Ltd
Company Limited by Guarantee
Notes to the Financial Statements (￿ntInued}
Year ended 31 October 2024
15. Analys18 of charltable funds
Unrestricted funds
At
1 November 2
023
At
31 October 2
024
Income Expenditure
Funds
9,538,622
582,936
(345,981) 9,775,577
At
1 November 2
022
At
31 October 20
23
Income Expenditure
Funds
9,296,680
507,427
(265,485) 9,538,622
16. Analysls of net assets between funds
Unrestricted Total Funds
Funds
2024
Tangible fixed assets
Current assets
Creditors less than 1 year
Net assets
3,970,590
5,841,074
(36,087)
9,775,577
3,970,590
5,841,074
(36,087)
9,775,577
Unrestricted Total Funds
Funds
2023
Tangible fixed assets
Current assets
Creditors less than 1 year
Net assets
3,817,064
5,752,942
(31,384)
9.538,622
3.817,064
5.752,942
(31,384)
9.538,622
17. Analysis of changes In not debt
At
At 1 Nov 2023 Cash flovrfs 31 O¢t 2024
Cash al bank and in hand
S,5￿,715
148,418
5,739,133
18-