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← Easy Housing Association

2024-03-31-accounts

Easy Housing Association Company limited by guarantee Financial Statements For the Year Ended 31 March 2024

Company registration number: 05439373 RSL Number 4670 Charity number 11157211

Easy Housing Association Company limited by guarantee

Financial Statements

For the Year Ended 31 March 2024

Contents Page Page
Registered Social Housing Provider Information 1
Report 2 - 7
Independent Auditor's Report 8 10
Statement of Comprehensive Income 11
Balance Sheet 12
Statement of Changes in Equity/Reserves 13
Statement of Cash Flows 14
Notes to the Financial Statements 15 - 22

Easy Housing Association Company limited by guarantee Financial Statements

For the Year Ended 31 March 2024

Company registration number: 05439373

Status: An exempt Charitable Association registered under the Companies Act An exempt Charitable Association registered under the Companies Act
2006.
Trustees: Mr Yussuf Hersi Ahmed
Mr Phillip Arthur Ruark-Davis (resigned 27 December 2023)
Mrs Loretta Ezikwa (resigned 13 September 2024)
Mr Musa Yusuf Noor (appointed 20 November 2023)
Dr Mohamed Noor Ibraham (appointed 25 April 2024)
Mr Ahmed Abdi Mohamed (appointed 7 October 2024)
Registered Office: Kingsbury House
468 Church Lane
London
NW9 8UA
Accountant: RUS & COMPANY (UK) LTD
1190a/1192 Stratford Road
Hall Green
Birmingham
West Midlands
B28 8AB
Auditor: Thomas & Young Limited
Carleton House
266-268 Stratford Road
Shirley
Solihull
West Midlands
B90 3AD
Bankers: Barclays Bank plc
Wembley & Park Royal 2
Leicester
LE87 2BB

Easy Housing Association Company limited by guarantee Trustees Report

For the Year Ended 31 March 2024

The Trustees present their report, including the audited financial statements of Easy Housing Association for the year ended 31 March 2024. This report forms the Directors report for the purposes of the Companies Act 2006.

Trustees

The Trustees who served during the year were:

Mr Yussuf Hersi Ahmed Mr Phillip Arthur Ruark-Davis (Resigned 27 December 2023) Mrs Loretta Ezikwa (resigned 13 September 2024) Mr Musa Yusuf Noor (appointed 20 November 2023 Dr Mohamed Noor Ibraham (appointed 25 April 2024) Mr Ahmed Abdi Mohamed (appointed 7 October 2024)

Under the terms of the statutory guarantee, the Trustees are deemed to be the statutory members and as such have given an undertaking to contribute up to £1 each if required to do so.

Results

The surplus for the year, after taxation, amounted to £20,142 (2023 - surplus of £265,537).

Going concern

At 31 March 2024 the a s s o c i a ti o n has cash at bank of £526k. The Board has reviewed the g budgets and funding requirements and is satisfied that Easy Housing Association is a going concern, and it has therefore continued to adopt the going concern basis in preparing the financial statements.

The Board will continue to manage the financial stability of the organisation by monitoring its operational activities and looking at ways of reducing expenditure and increasing cost effectiveness and value for money.

Further details of the Trustees' going concern assessment is given in the Company Strategic Report.

Qualifying third party indemnity provisions

Professional indemnity insurance is in place for the Trustees.

Matters covered in the Company Strategic Report

The Company has chosen in accordance with section 414C(11) of the Companies Act 2006, to set out in the compa trategic Report information required by this Schedule to be contained in the Trustees' Report in respect of future developments and financial risk management.

Easy Housing Association Company limited by guarantee Trustees Report (continued)

For the Year Ended 31 March 2024

Trustees' responsibilities statement

Future Plans

The Business Plan commits us to:

Assessment of how the association is achieving value for money

Easy Housing Association recognises that in achieving Value for Money (VfM), the responsibility for robust financial management by the Board and management team is essential. Our working definition for VfM is to use our resources economically, efficiently, and effectively as befits an organisation of our size and complexity, in order to provide quality services and homes for our service users.

Our strategic approach to Value for Money includes the following steps:

1. Embedding Value for Money objectives into our Strategic Objectives

One of our key strategic objectives is to be a strong Social Business, focused on achieving sustainable financial performance and doing this within a VfM framework. Easy Housing Association believes that VfM is integral to how we work, and we encourage all staff, particularly budget holders, to consider VfM within the context of their roles, welcoming suggestions for process and service delivery improvements in order to achieve a more equitable balance between quality and cost of provision. In 2023-24 we reviewed services from staffing agencies, catering and cleaning suppliers, IT support and software provision.

2. Reporting on Regulatory Metrics

As a small provider with less than 1,000 units, an element of remit is to provide affordable and safe housing for adult people in its existing units. The core purpose of Easy Housing Association is predominantly as a Support provider and not a developer of Housing. In the short -medium term, the organisation intends to refurbish its housing stock as and when the opportunity arises, to ensure the stock is in sufficient demand and appropriate condition to remain viable. We are not currently aiming to invest in building or acquiring new stock.

Easy Housing Association Company limited by guarantee Trustees Report (continued)

For the Year Ended 31 March 2024

In line with the principles of the metrics introduced by the Regulator of Social Housing, providers are expected to report their performance against seven key metrics in the annual accounts. The Regulator acknowledges that reporting on a particular metric may be inappropriate given the nature of the organisation, but it provides us with an opportunity to compare ourselves to the wider housing for adult people sector.

The Board of Trustees continues to monitor a comprehensive set of financial and operational key performance indicators to evaluate the ongoing performance, efficiency, and long-term sustainability of Easy Housing Association. Throughout 2023 24, the Association demonstrated robust financial stewardship, maintaining strong operating margins and exercising prudent cost management.

Operational performance remained consistently within target levels across key areas including rent collection, void -quality, value-for-money services while advancing its strategic objectives in support of residents and the wider community.

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Metric 1 Reinvestment % N/A
Metric 2 New supply delivered % N/A
Metric 3 Gearing % N/A
Metric 4 EBITDA MRI Interest Cover % N/A
Metric 5 Headline social housing cost per unit £7714
Metric 6 Operating margin % 0.7%
Metric 7 Return on capital employed % 3.03%
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Note:

Easy Housing Association does not own any property. All supported housing units are leased from private landlords. Furthermore, EHA did not have any loans or bank facilities during the reported period. As a result, Metric 1 - Metric 4 related to financial analysis do not apply to EHA.

Compliance with code of governance

The charity has adopted the National Housing Federation Code of Governance (2020). As a small Registered Provider (less than 1000 units), we seek to adhere to the spirit of the Code, whilst prioritising our business needs. Trustees recognise that there should be a balanced, diverse, and effective Board which leads and controls the organisation, complies with its legal requirements and reflects the increasingly diverse service user community whom we serve.

We have undertaken an assessment against the provisions of the code under its 4 principles and comply, with the following exceptions:

Easy Housing Association Company limited by guarantee Trustees Report (continued)

For the Year Ended 31 March 2024

Internal Financial Control and Financial Reporting

The Board is ultimately responsible for the Company system of internal financial control, which is designed to provide reasonable, but not absolute, assurance regarding the safeguarding of assets, the maintenance of proper accounting records and the reliability of financial information.

The Board regularly reviews the effectiveness of the internal financial control system for the period and up to the date of the approval of the report and financial statements. No weaknesses were found to date in the internal financial controls which resulted in material losses, contingencies or uncertainties which require disclosure in the financial statements.

The main features of the internal control system are:

Meeting Public Benefit

In considering ublic Benef the trustees recognise their responsibilities as guided by the Charities Act 2011 which defines a charitable purpose, explicitly, as one that falls within 13 descriptions of purposes and is for the public benefit. One of those 13 descriptions is he relief of those in need, by reason of youth, age, ill-health, disability, financial hardship or other disadvanta

objectives are to provide good quality support and care to persons over 15 years. Easy Housing Association provides accommodation and support to individuals within our Support homes or housing services. The trustees are therefore confident that Easy Housing Association meets public benefit requirements with a clear charitable purpose.

Access to all of our support services can be achieved either through self-referral or a government-funded statutory organisation. We promote the Support homes to ensure equity of access across the community, based on the individua care needs assessment, required outcomes and our ability to deliver.

We publicly advertise rental tenancy vacancies in our social housing provision and operate a criteria assessment for prioritising needs. 100% of our housing tenants are in receipt of Housing Benefit or other forms of state funding.

Easy Housing Association Company limited by guarantee Trustees Report (continued)

For the Year Ended 31 March 2024

Trustees' responsibilities statement

The Directors are responsible for preparing the strategic report, the Board of Trustees' report and the financial statements in accordance with applicable law and regulations.

Company law and Housing association legislation requires the Directors to prepare for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the Board of Trustees must not approve the financial statements unless it is satisfied that they give a true and fair view of the state of affairs of the group and the company and of the surplus or deficit of the group and the company for that period.

In preparing these financial statements, the Board of Trustees is required to:

The Board is responsible for keeping adequate accounting records that are sufficient to show and explain the G and the Compan s transactions and disclose with reasonable accuracy at any time the financial position of the Group and the Company and enable it to ensure that the financial statements comply with the Companies Act 2006, the Housing and Regeneration Act 2008, the Charities Act 2011 and the Accounting Direction for Private Registered Providers of Social Housing 2015. They are also responsible for safeguarding the assets of the group and the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees/Directors are responsible for the maintenance and integrity of the corporate and financial information included on the Broadening Choices for Older People website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Disclosure of information to auditor

The Directors who were in office on the date of approval of these financial statements have confirmed, as far as they are aware, that there is no relevant audit information of which the auditor is unaware. Each of the Directors have confirmed that they have taken all the steps that they ought to have taken as Directors in order to make themselves aware of any relevant audit information and to establish that it has been communicated to the auditor.

Easy Housing Association Company limited by guarantee Trustees Report (continued)

For the Year Ended 31 March 2024

Auditors

Thomas & Young Limited were appointed as auditors to the association and in accordance with section 485 of the Companies Act 2006. Thomas & Young Limited has indicated its willingness to continue in the office as auditors and will be proposed for re-appointment as auditors of the Charity at the forthcoming Annual General Meeting.

This report was approved by the board and signed on its behalf.

Mr Yussuf Hersi Ahmed [iBPPP Signedy= 1-51-47 by: 7.107 +

Trustee

Date:

Dr Mohamed Noor Ibraham [MaaSigned by: rain Trustee

Date:

Easy Housing Association Company limited by guarantee Independent Auditor's Report

For the Year Ended 31 March 2024

Opinion

We have audited the financial statements of Easy Housing Association for the year ended 31 March 2024 which comprise Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Reserves, Statement of Cash Flows and notes to the financial statements, 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 Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. financial statements section of our report. We are independent of the company in accordance with the ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with 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 concern

In auditing the financial statements, we have concluded that the use of the going concern 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 ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the board with respect to going concern are described in the relevant sectors of this report.

Other information

The directors are responsible for the other information. The other information comprises the information included in statements does not cover the other information and 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 knowledge 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.

Easy Housing Association Company limited by guarantee Independent Auditor's Report (continued) For the Year Ended 31 March 2024

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the association and its environment obtained in the course of the audit, we have not identified material misstatements report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

In addition, we have nothing to report in respect of the following matter where the Housing and Regeneration Act 2008 requires us to report to you if, in our opinion;

Responsibilities of the trustees

As explained more fully in the trustees' responsibilities statement, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the associations ability 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 association or to cease operations, or have no realistic alternative but to do so.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from

Reasonable assurance is a high level of assurance but is not a guarantee 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 if, 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.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

A further description of our responsibilities for the audit of the financial statements is located on the Financial report.

Easy Housing Association Company limited by guarantee Independent Auditor's Report (continued)

For the Year Ended 31 March 2024

Use of our report

This report is made solely to the associations members as a body in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and section 137 of the Housing and Regeneration Act 2008. Our audit work has been undertaken so that we might state to the associations 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 to anyone other than the association and the associations members as a body, for our audit work, for this report, or for the opinions we have formed.

For and on behalf of Thomas and Young Limited Chartered Accountants Statutory Auditor

9 June 2025

Carleton House 266-268 Stratford Road Shirley Solihull West Midlands B90 3AD

Easy Housing Association Company limited by guarantee Statement of Comprehensive Income (Including Income and Expenditure Account)

For the Year Ended 31 March 2024

2024 2023
Continuing Discontinued Continuing Discontinued
operations operations Total operations operations Total
£ £ £ £ £ £
Note
Turnover 3 3,030,152 - 3,030,152 2,657,930 - 2,657,930
Operating costs (3,012,637) - (3,012,637) (2,392,824) (3,012,637) (2,392,824) - (2,392,824)
Operating surplus 17,515 - 17,515 265,106 - 265,106
Interest receivable and similar
income 5 2,627 - 2,627 431 - 431
Interest payable and similar
charges 5 - - - - - -
Surplus on ordinary activities
for the year before tax 20,142 - 20,142 265,537 - 265,537
Tax on surplus on ordinary
activities 10 - - - - - -
Surplus for the year
after tax
Total comprehensive income		 20,142 - 20,142 265,537 - 265,537
for the year 20,142 - 20,142 265,537 - 265,537

All operations are continuing and none have been discontinued during this or the previous year.

On behalf of the board of directors and signed on

Mr Yussuf Hersi Ahmed NeeeOQROBBOBETSCATB&Signed by: ATC ttteteeeteeeeee eee Trustee

Dr Mohamed Noor Ibraham[(bralrim] |[Molamcd.] Signed by:

Trustee

Easy Housing Association Company limited by guarantee Balance Sheet

At 31 March 2024

At 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible fixed assets 11 58,961 72,468
58,961 72,468
Current assets
Debtors 12 228,004 220,650
Cash at bank and in hand 526,481 465,967
754,485 686,617
Creditors: amounts falling due within one year 13 148,385 114,166
Net current assets/(liabilities) 606,100 572,451
Total assets less current liabilities 665,061 644,919
Total net assets 665,061 644,919
Capital and Reserves
Income and expenditure reserve 16 665,061 644,919
Total Reserves 665,061 644,919

The financial statements were approved and authorised for issue by the board of directors and signed on

Mr Yussuf Hersi Ahmed

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[i
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Trustee

Dr Mohamed Noor Ibraham

[(biraliin] |[Molamed] Signed by:

Trustee

The notes on pages Page 10 to Page 17 form part of these accounts.

Easy Housing Association Company limited by guarantee Statement of Changes in Equity/Reserves

For the Year Ended 31 March 2024

At 1 April 2023
Surplus for the year
At 31 March 2024
 Income and
expenditure
reserve
£
644,919
20,142
665,061
 Total
£
644,919
20,142
665,061

Easy Housing Association Company limited by guarantee Statement of Cash Flows

For the Year Ended 31 March 2024

Note
Cash flow from operating activities
16
Interest paid
Taxation paid
Net cash flow from operating activities
Cash flow from investing activities
Payments to acquire fixed assets
Interest received
Net cash flow from investing activities
Cash flow from financing activities
Repayment of long term loans
Net cash and flow from financing activities
Net increase in cash and
cash equivalents
Cash and cash equivalents at
1 April 2023
Cash and cash equivalents at
31 March 2024
Cash and cash equivalents
consists of:
Cash at bank and in hand
Cash and cash equivalents
at 31 March 2024		 2024
£
64,033
-
-
64,033
(6,146)
2,627
(3,519)
-
-
60,514
465,967
526,481
526,481
526,481		 2023
£
152,667
-
-
152,667
(18,219)
431
(17,788)
-
-
134,879
331,088
465,967
465,967
465,967

Easy Housing Association Company limited by guarantee Notes to the Financial Statements

For the Year Ended 31 March 2024

1 Summary of significant accounting policies

(a) General information and basis of preparation

Easy Housing Association is registered under the Companies Act 2006, a private registered provider of social housing in the United Kingdom. The address of the registered office is given in the association information on page 1 of these financial statements. The nature of Easy Housing Association operations and principal activities are the provision to provide temporary supported accommodation for single homeless adults.

The association constitutes a public benefit entity as defined by FRS 102.

The financial statements have been prepared in accordance with applicable accounting standards including Financial Reporting Standard 102 (FRS 102), the Statement of Recommended Practice for Social Housing Providers 2018, and with the Accounting Direction for private registered providers of social housing in England 2022. The financial statements are also prepared under the requirements of the Housing and Regeneration Act 2008 and the Companies Act 2006. The financial statements have been prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling, which is the functional currency of Easy Housing Association rounded to the nearest pound.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

(b) Tangible fixed assets

Tangible fixed assets (including social housing properties) are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended such as the cost of acquiring land and buildings, development costs, interest charges on loans during the development period and expenditure on improvements. Expenditure on improvements will only be capitalised when it results in incremental future benefits such as increasing rental income, reducing maintenance costs or resulting in a significant extension of the useful economic life of the property.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Land and housing properties None
Property plant and machinery None
Fixtures and fittings 25% reducing balance
Computer equipment 25% reducing balance

Easy Housing Association Company limited by guarantee Notes to the Financial Statements (Continued)

For the Year Ended 31 March 2024

(b) Tangible fixed assets (continued)

Historically, major components of housing properties have not been accounted for and depreciated separately from the connected housing property. In the future, additions of major components will be depreciated over their expected useful economic lives and included in property plant and equipment.

The useful economic lives of all tangible fixed assets are reviewed annually.

(c) Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income in other administrative expenses.

Rights of social landlords to have improvement works carried out to properties by a third party are recognised as prepayments where payment has occurred in advance of the works being carried out and receipts in advance from the same third party recognised as liabilities. Assets and liabilities or income and expenditure are not offset.

(f) Impairment

If any assets, are not measured at fair value, they will be reviewed for any indication that the asset may be impaired at each balance sheet date.

If such indication exists, the recoverable amount will be estimated and compared to the carrying amount.

The following key judgements have been made in estimating the recoverable amount:

None.

(g) Provisions

Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

Provisions for cyclical maintenance or major works to existing stock are not made unless they represent commitments or obligations at the Balance Sheet date where there is no discretion to avoid or delay the expenditure.

(h) Tax

Current tax represents the amount of tax payable or receivable in respect of taxable income for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. The Association is currently exempt from tax.

The activities of the Association are exempt from VAT. Expenditure is shown including attributable VAT.

(1) Turnover and other income

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Easy Housing Association Company limited by guarantee Notes to the Financial Statements (Continued)

For the Year Ended 31 March 2024

Turnover represents rental and service charges income receivable in the year net of rent and service charge, losses from voids, revenue grants from the government (local authorities) and the Homes and Communities Agency.

There are no construction contracts.

Interest income is recognised when received as the associations right to receive payment is established.

(n) Judgements and key sources of estimation uncertainty

The following judgements (apart from those involving estimates) have been made in the process of applying the above accounting policies that have had the most significant effect on amounts recognized in the financial statements.

None.

The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year include:

None.

2 Limited by guarantee

Memorandum of Association of the company states that every member of the company undertakes to contribute to the assets of the company in the event of its being wound up while he is a member or within one year afterwards for payment of the debts and liabilities of the company contracted before he ceases to be a member and the costs, charges and expenses of winding up and for the adjustment of the rights of contributories among themselves such amount as may be required not exceeding £1.

3 Particulars of turnover and administrative expenditure from social housing lettings

Turnover
Rent receivable net of
Identifiable service charges
Other Income
Turnover from social housing		 General
needs
housing
£
3,027,689
2,463
3,030,152		 2024
Total
£
3,027,689
2,463
3,030,152		 2023
Total
£
2,656,398
1,532
2,657,930

Easy Housing Association Company limited by guarantee Notes to the Financial Statements (Continued)

For the Year Ended 31 March 2024

4
Accommodation owned and in management


Completed units:
General needs housing:
Let at social rent
Affordable Rent

5
Interest and other finance income and charges
a) Interest receivable and similar income
Bank interest receivable
b) Interest payable and similar charges
Bank loans
6
Surplus/(deficit) on ordinary activities
Surplus/(deficit) on ordinary activities is stated
after charging/crediting):
Auditor's remuneration (including expenses and
benefits in kind) for audit
Auditor's remuneration (including expenses and
benefits in kind) for non audit
Depreciation of tangible fixed assets
7
Fees payable to the Associations auditor
for the audit of the Associations annual accounts
Fees payable to the Associations auditor
for services other than those of external audit
Taxation compliance and statutory accounts preparation		 No of units

at

31.03.24

388
2024
2,463
2024
£
-
2024
£
3,000
-
19,653
2024
£
3,000
-		 No of units
at
31.03.23
205
2023
1,532
2023
£
-
2023
£
-
-
24,156
2023
£
-
-

Easy Housing Association Company limited by guarantee Notes to the Financial Statements (Continued)

For the Year Ended 31 March 2024

8 Board and key management personnel remuneration

Key management personnel neither received nor waived any remuneration during the year.

9 Staff costs

The average number of employees, calculated on a full time equivalent was 16 employees (2023: 9).

The aggregate remuneration of such employees was as follows:

The aggregate remuneration of such employees was as follows:
Wages and salaries
Social security costs
Other pension costs		 2024
£
421,713
30,061
3,364
455,138		 2023
£
264,315
20,084
6,120
290,519

10 Tax

No provision is made in the financial statements for liability to taxation, as the Association is an exempt charity.

11
Tangible fixed assets
other

Cost or valuation:
At 1 April 2023
Additions
Disposals
Revaluation
At 31 March 2024
Depreciation:
At 1 April 2023
Charge for the year
Impairment
Revaluation
Eliminated on disposals
At 31 March 2024
Net book value:
At 31 March 2024
At 31 March 2023		 Fixtures
& Fittings
£
240,216
6,146
-
-
246,362
167,748
19,653
-
-
-
187,401
58,961
72,468

Total accumulated impairments of £NIL are recognised in the opening position.

Easy Housing Association Company limited by guarantee Notes to the Financial Statements (Continued)

For the Year Ended 31 March 2024

12
Debtors
Trade debtors (gross social housing rent arrears)
Less:provision for doubtful debt
Other debtors
Prepayments and accrued income		 2024
£
204,383
-
12,421
11,200
228,004		 2023
£
199,229
-
21,421
-
220,650

All debtors are due within one year.

Gross social housing rent arrear includes £NIL (2023: £NIL) to reflect the net present value element adjustments where a repayment schedule is in place.

13 Creditors: amounts falling due within one year

Trade creditors
Accruals
Rents paid in advance
Corporation tax
Other taxes
Other creditors
14
Provisions for liabilities
At 1 April 2023
Additions during the year
Amounts charged against the provision
Unused amounts reversed
At 31 March 2024
 2024
£
129,817
5,088
-
-
9,452
4,028
148,385
2024
£
-
-
-
-
-		 2023
£
104,323
4,200
-
-
3,770
1,873
114,166
2023
£
-
-
-
-
-

Easy Housing Association Company limited by guarantee Notes to the Financial Statements (Continued)

For the Year Ended 31 March 2024

15 Contingent liabilities

There were no contingent liabilities at 31 March 2024 (2023: £ NIL).

16
Reserves
2024
£
Income and expenditure reserve:
At 1 April 2024
644,919
Surplus for the year
20,142
Prior year adjustments
-
At 31 March 2024
665,061
17
Reconciliation of operating surplus to cash flow from operating activities
2024
£
Surplus for the year
17,515
Depreciation and impairment of tangible fixed assets
19,653
(Increase)/Decrease in trade and other debtors
(7,354)
Increase/(Decrease) in trade and other creditors
34,219
Net cash flow from operating activities
(64,033)
18
Capital funding and commitments
2024
£
Capital expenditure that has been contracted for but
has not been provided for in the financial statements
-
Capital expenditure that has been authorised by the
Board but has not yet been contracted for
-
-		 2023
£
333,960
265,537
45,422
644,919
2023
£
265,106
31,151
(185,284)
41,694
152,667
2023
£
-
-
-

Contractual commitments for the acquisition of tangible fixed assets contracted for but not provided in the financial statements, amounted to £NIL (2023: £ NIL).

Easy Housing Association Company limited by guarantee Notes to the Financial Statements (Continued)

For the Year Ended 31 March 2024

19 Events after the end of the year

There are no events after the end of the year which would affect the financial position as shown.

20 Off-balance sheet arrangements

There are no off-balance sheet arrangements.

21 Financial instruments

2024 2023
£ £
Measured at fair value through the statement of comprehensive
income: - -