## **Hawes Street Housing Limited** 

Reports 

and Financial Statements 

for the year ended 31 December 2021 

Company Number 2328684 

**Homes and Communities Agency Registration number 4707** 



Page 1 

Hawes Street Housing Limited 

DIRECTORS’ REPORT for the year ended 31 December 2021 

________________________________________________________________________________________________ 

## **FINANCIAL STATEMENTS** 

The directors present their report and financial statements for the year ended 31 December 2021. 

## **DIRECTORS RESPONSIBILITIES** 

The directors are responsible for preparing the Directors Report and the financial statements in accordance with applicable law and regulations. 

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare financial statements in accordance with UK Generally Accepted Accounting Practice (UK Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:- 

(1)  select suitable accounting policies and then apply them consistently; 

(2)  make judgements and estimates that are reasonable and prudent; 

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

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006.  They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

## **PRINCIPAL ACTIVITY** 

The company’s principal activity is the purchase and renovation of vacant houses within the area surrounding Hawes Street in the Tunstall area of Stoke on Trent for letting at affordable rents to local people who are homeless or in housing need. 

## **FINANCIAL RESULTS** 

The profit for the year after taxation amounted to £42,555  (2020 £66,100) 

Rental income from the properties has remained stable and operating costs successfully controlled. Property maintenance costs reflect the age of the housing stock. 

The directors recommend that the profit for the year is transferred to reserves thereby continuing their policy of investing all the surplus funds from the charity's activities into properties for letting at affordable rents. 



**Page 2** 

**Hawes Street Housing Limited** 

DIRECTORS’ REPORT for the year ended 31 December 2021 (continued) _______________________________________________________________________________________________ 

## **DIRECTORS** 

The directors who served during the year were as follows: 

A Turrell J Gerrard S R Ellis L Foster D Ashley C D McMain P J Madden M Jones Appointed 16 September 2021 

This report, which has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006, was approved by the Board on 27 July 2022 

J Gerrard 

Director 



## **Independent Examiner’s Report on the Accounts** 

## **Report to the directors/members of** 

Hawes Street Housing Limited 

**On the Accounts year ending** 31[st] December 2021 

**Respective responsibilities of directors** As the Charity’s directors you are responsible for the preparation of the **and examiner** accounts; you consider that the audit requirements of section 43(2) of the Charities Act 1993 (the Act) do not apply. It is my responsibility to state, on the basis of the procedures specified in the General Directions given by the Charity Commissioners under section 43(7)(b) of the Act, whether particular matters have come to my attention. 

**Basis of independent Examiner’s report** 

My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as directors concerning such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts 

**Independent examiner’s statement** 

In connection with my examination, no matter has come to my attention: 

- (1) which gives me reasonable cause to believe that in any material respect the requirements 

to keep accounting records in accordance with section 41 of the Act :and 

to prepare accounts which accord with the accounting records and to comply with the accounting requirements have not been met ;or 

- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached 

P W Seaman FCA 32 Offley Road Sandbach Cheshire CW11 1GY 27 July 2022 



## **Hawes Street Housing Limited** 

PROFIT AND LOSS ACCOUNT for the year ended 31 December 2021 

||Notes|2021|2020|
|---|---|---|---|
|||£|£|
|Turnover|2|80,128|81,684|
|Administrative expenses||37,573|15,605|
|||_____|_____|
|Operating profit||42,555|66,079|
|Other income||-|21|
|||_____|_____|
|Profit on ordinary activities before taxation||£42,555|£66,100|
|||_____|_____|



There were no recognised gains or losses other than the profit for the year. 

The accompanying notes and accounting policies form an integral part of these financial statements. 



**Hawes Street Housing Limited Page 5** 

## BALANCE SHEET as at 31 December 2021 

________________________________________________________________________________________ 

||||2021||2020|
|---|---|---|---|---|---|
||Notes|£|£|£|£|
|FIXED ASSETS||||||
|Tangible assets|3||873,275||873,275|
|CURRENT ASSETS||||||
|Debtors|4|410||410||
|Cash at bank and in hand||237,706||195,151||
|||_____||_____||
|||238,116||195,561||
|CREDITORS: amounts falling due||||||
|within one year|5|840||840||
|||_____||_____||
|Net current assets|||237,276||194,721|
||||_______||_______|
|Net assets|||£1,110,551||£1,067,996|
||||_______||_______|
|CAPITAL AND RESERVES||||||
|Capital Reserve|8||250,000||250,000|
|Revenue Reserves|7||860,551||817,996|
||||_______||_______|
||||£1,110,551||£1,067,996|
||||_______||_______|



For the financial year ended 31 December 2021 the company was entitled to exemption from audit under section 477(2) of the Companies Act 2006. No member of the company has deposited a notice, pursuant to section 476, requiring an audit of these financial statements under the requirements of the Companies Act 2006. 

The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit or loss for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts, so far as applicable to the company. 

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and with the Financial Reporting Standard for Smaller Entities (effective April 2008). 

Approved by the Board for issue on 27 July 2022 

J Gerrard 

Director 



Company Registration No 2328684 

## **Hawes Street Housing Limited** 

## **Page 6** 

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2021 

___________________________________________________________________________________________ 

## **1. ACCOUNTING POLICIES** 

## **Accounting convention** 

The financial statements have been prepared under the historical cost convention and in accordance with applicable accounting standards. 

## **Turnover** 

Turnover represents the total amount receivable for rent and service charges exclusive of value added tax. 

## **Tangible fixed assets and depreciation** 

Freehold properties are renovated to a high standard and maintained in good repair and it is considered that residual values are such that depreciation is not significant, consequently these buildings are not depreciated.  The cost of freehold properties includes the cost of land and buildings, improvements, professional fees and other direct expenditure. 

Depreciation is provided on other assets at the rate of 20 per cent per annum on written down values. 

## **2. TURNOVER** 

|**2. TURNOVER**|||
|---|---|---|
|Turnover consists of the following:|||
||2021|2020|
||£|£|
|Rents received|80,128|81,684|
|Members subscriptions|-|21|
||_____|_____|
||£80,128|£81,705|
||_____|_____|





**Hawes Street Housing Limited** 

**Page 7** 

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2021 

________________________________________________________________________________________ 

## **3.TANGIBLE FIXED ASSETS** 

|**3.TANGIBLE FIXED ASSETS**||||
|---|---|---|---|
||Freehold land and|Office||
||buildings|Equipment|Total|
||£|£|£|
|Cost||||
|1 January 2021|872,854|5,669|878,523|
|Additions||||
||______|_____|______|
|31 December 2021|872,854|5,669|878,523|
||______|____|______|
|Depreciation||||
|1 January 2021|-|5,248|5,248|
|Charge for the year|-|-|-|
||______|____|____|
|31 December 2021|-|5,248|5,248|
||______|____|____|
|Net book value||||
|31 December 2021|872,854|421|873,275|
||______|_____|______|
|31 December 2020|872,854|421|873,275|
||______|____|______|
|**4.DEBTORS**||||
|||2021|2020|
|||£|£|
|Debtors and prepayments||£410|£410|
|||____|____|
|**5.CREDITORS : amount falling due within one year**||||
|Accruals and deferred income||£840|£840|
|||_____------|_____------|





**Hawes Street Housing Limited** 

**Page 8** 

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2021 

_________________________________________________________________________________________ 

## **6. MEMBER’S LIABILITY** 

The company is limited by guarantee and does not have a share capital.  Every member of the company is liable to contribute to the assets of the company, in the event of its being wound up whilst in membership or within one year of leaving, for payment of the debts and liabilities of the company contracted before membership ceases, and of the costs, charges and expenses of winding up and for the adjustment of the rights of the contributors among themselves; such liability for any member will not exceed £1.  At 31 December 2021 the number of members so liable was 27 (2020 – 27). 

|**7.PROFIT AND LOSS ACCOUNT**|2021|2020|
|---|---|---|
||£|£|
|1 January 2021|817,996|751,896|
|Profit for the year|42,555|66,100|
||_______|_______|
|31 December 2021|£860,551|£817,996|
||_______|_______|



## **8. CAPITAL RESERVE** 

This represents a donation from the Church Urban Fund towards the cost of purchase and improvement of properties for subsequent rental. 



## **Hawes Street Housing Limited** 

## PROFIT AND LOSS ACCOUNT 

for the year ended 31 December 2021 

|||2021||2020|
|---|---|---|---|---|
||£|£|£|£|
|Rent received||80,128||81,684|
|Members subscriptions||-||21|
|||_____||_____|
|||80,128||81,705|
|Expenses|||||
|Peppercorn rent|-||-||
|Rates, heat, light and telephone|4,157||3,085||
|Insurance|5,890||5,290||
|Repairs and Maintenance|<br>24,503||3,219||
|Donation|-||200||
|Accountancy|853||840||
|Legal fees|830||-||
|Sundry expenses|1,340||2,971||
||_____|37,573|_____|15,605|
|||_____||_____|
|Profit for the year before taxation||£42,555||£66,100|
|||_____||_____|