) . ‘ REGISTERED COMPANY NUMBER: 02380564 (England and Wales) REGISTERED CHARITY NUMBER: 1128527 FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 FOR COMMUNITY HOUSING CYMRU : . Bevan Buckland LLP Chartered Accountants And Statutory Auditors : Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA7 9LA , ¢ | - ## COMMUNITY HOUSING CYMRU | | ## CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED THE YEAR ENDED YEAR ENDED ENDED 31 MARCH 2022 **----- Start of picture text -----**
|||||||| |---|---|---|---|---|---|---| |FOR THE YEAR ENDED THE YEAR ENDED YEAR ENDED ENDED|31|MARCH|2022|.| |:|Page| |Report|of the|Trustees|1|to|4| |Report|of the|Independent Auditors|5|to|7| |Statement|of|Financial|Activities|8| |Statement|of|Financial|Position|9| |Statement|of|Cash|Flows|10| |Notes|to|the|Statement|of Cash|Flows|11| |Notes|to the|Financial|Statements|12|to|22| |Detailed Statement of Financial Activities|23|to|24| **----- End of picture text -----**
, ; | s : ## COMMUNITY HOUSING CYMRU REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022 Community Housing Cymru (CHC) is the representative body for housing associations and community mutuals in Wales, which are all not-for-profit organisations. We are proud to represent our members who provide homes and services to 10% of the Welsh population. . Our members work closely with local government, third sector organisations and the Welsh Government to provide a range of services in communities across Wales. Our conferences, training and networking opportunities, along with our lobbying activities and communications, ensure that the Welsh social housing movement is kept fully informed and represented across Wales and beyond. : Our charitable objectives are to promote, in such manner as shall be consistent with Charity Commission published guidance and for the benefit of the public in Wales, the voluntary housing sector and the relief of financial hardship through the sector's provision of low cost social housing in particular, but not exclusively, by: (a) Providing services, education, training, information, advice and support to providers of such housing in Wales; (b) Encouraging and facilitating the provision, construction, improvement and management of such housing by housing associations in Wales. ; In this, "Voluntary housing sector" shall be interpreted in accordance with Charity Commission guidance and means charities and voluntary organisations (with housing related objects). "Charities" are organisations, which are established for exclusively charitable purposes in accordance with the law of England and Wales. "Voluntary organisations” are independent organisations, which are established for purposes that add value to the community as a whole, or a_ significant section of the community, and which are not permitted by their constitution to make a profit for private distribution. Voluntary organisations do not include local government or other statutory authorities. In shaping our objectives, Trustees have considered the Charity Commission's guidance on public benefit, including the guidance ‘public benefit: running a charity (pb2)’. Achievements and Performance 2021/22 was the third year of our extended four year corporate plan. Key achievements to note include: - Aone year rent settlement of 3.1%. This was widely identified as one of the key achievements valued by our members. - Our Home campaign achieved its objectives to ensure that the role of housing was reflected across the Programme for Government. : ~ We successfully influenced the new Social Housing Grant framework and successfully lobbied for a record breaking, multi year settlement in excess of £310m pa. - We have worked in partnership to make the case for the role of good quality housing in reducing health inequalities via the WellBeing Alliance and work with housing association Regional Partnership Board representatives. - Maintained funding for Housing Support Grant via our Housing Matters campaign, in collaboration with Cymorth Cymru. ~ Published a refreshed code of governance and model rules alongside influencing a refresh of the regulatory framework to ensure that it remained proportionate and effective. - Ran an innovation programme to build innovative capacity in the sector via a public facing challenge and an organisational challenge. - Increased membership of our Primary Fire Authority Scheme by 14%. Ali but 2 members are now members of the scheme. - Invested in our internal !T capacity with a move to Google workspace, a new CRM system and a new website with increased functionality. - Our Renting Homes Wales Act training has been well attended with positive feedback from members and has exceeded expectations. Looking Forward At a time of considerable challenge in the external environment as a result of increasing costs of living and global events CHC will work hard to shape the environment in which associations operate. This will include: - Influencing activity on key risk areas including development barriers and grant, building safety, rent and affordability and decarbonisation. : - Continued campaigning in partnership on health inequalities to cement the role of housing in the discourse around good health outcomes. . - Support housing associations address workforce challenges via our ‘This is Housing’ campaign and our Housing Jobs Wales platform to encourage new entrants and talent to the sector. - A support package to aid the implementation of the Renting Homes Wales Act. - Streamlining and coordinating our work more effectively to maximise impact and engagement with the stories we tell. This will include work to increase the diversity of voices in our story telling. - We will also reform and invest in our services to our members. This will include: | . . Page 1 . | | , . | COMMUNITY HOUSING CYMRU | REPORT OF THE TRUSTEES | ; FOR THE YEAR ENDED 31 MARCH 2022 | - Reforming the way in which we deliver our services by integrating and coordinating our commercial and member offers more effectively. - Investing in our processes and our people to ensure that we are a great member organisation. This will include a shift to working in a fully remote way and supporting activity on culture, IT and processes, and implementing our ED! strategy. - We will also work with members to develop our new three year corporate plan and affiliation fee agreement. Our mission: | Our mission is to enable Welsh Housing Associations to be brilliant. Our Aim; | By 2023 we will: - be the leading voice on housing issues in Wales, - be regarded by members as an invaluable and highly effective membership body, - be recognised and valued by stakeholders and use this platform to make the case for housing associations in Wales, - provide excellent member services which add value and makes it easier for members to do their job, - harness the sector's appetite to do things differently, -bea financial sustainable organisation. | TheFinancial charityReview has reported net income for the year; of £44,324 compared to net income of £70,201 in 2021, this is prior to the actuarial gains/(losses) on the defined benefit scheme. Following the actuarial adjustment the surplus for the year is £542,324 compared to a deficit of £552,799 in the previous reporting period. Going | Goncem The financial statements currently show that the charity has positive reserves of £185,896. The charity has a strong cash position at the year end with a balance of £1,765,126 although, £1,486,543 is included as income in advance. This still leaves the charity in a stable cash position. Therefore, the trustees are confident that the charity can continue as a going concern for the foreseeable future. | Reserves Policy . It is the voll of Community Housing Cymru (CHC) to hold a reserves level sufficient to cover at least three months of contractual requirements in the unlikely event of the charity winding down. Main costs would include salaries, redundancy payments and future commitments. | . Structure, Governance and Management for year ended 31st March 2022 The organisation is a charitable company limited by guarantee. The company was established under a Memorandum of Association, which established the objects and powers of the charitable company, and is governed under its Articles of Association. | The Memorandum and Articles of Association of Community Housing Cymru were adopted by Special Resolution dated 20th March 2008. These were subsequently revised by Special Resolution on 1st December 2016, 6th November 2017 and 21st November 2019. The directors! as charity Trustees, have control of the charity and now are collectively known as the Community Housing Cymru (CHC) Board. The Trustees have control of the charity and its funds and when complete shall be not less than seven and not more than twelve individuals. Up to ten shall be elected by the Trustees from amongst board members or staff members of Housing Associations | in accordance with procedures relating to methods of nomination and election determined by the Trustees (which are incorporated into standing orders) and up to four can be independent and appointed by a resolution of the Trustees passed at a properly convened meeting of the Trustees. We saw one hw Trustee join the Board this year. All Trustees of the charity receive induction and training and no Trustees receive remuneration for their work with the Charity. | ; | Page 2 ., ## COMMUNITY HOUSING CYMRU REPORT OF THE TRUSTEES : FOR THE YEAR ENDED 31 MARCH 2022 ## Risk Management The Trustees have conducted a review of the major risks to which the charity is exposed. The risk register is regularly reviewed and updated and where appropriate, systems and/or procedures have been established to mitigate the risks the charity faces. Internal control risks are minimized by the implementation of procedures for authorisation of all transactions and tasks. ## Covid-19 impact The effect of the Covid-19 pandemic has impacted the organisation and operations. Whilst no one was furloughed due to a high volume of workload and the in-house transferrable skills of staff, there was increased pressure on staff. We have continued to work remotely as our default position throughout the year, and are currently reviewing our future working arrangements for staff. With the end of our 10 year lease in June 2022, we will be reflecting on our experiences of working remotely and consulting with staff and members about future ways of working including whether we need a permanent office base. . The trustees are also satisfied that there are no other material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. _- The Trustees are therefore of the opinion that the charity will have sufficient resources to meet its liabilities as they fall due. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number : 02380564 (England and Wales) Registered Charity number 1128527 Registered office Office 26 , 14 Neptune Court , Registered office Office 26 , 14 Neptune Court Vanguard Way Cardiff South Glamorgan CF245PJ - ## Trustees ; Andrew Martyn-Johns (Chair) Independent Paula Kennedy (Vice Chair) Melin Homes Jonathan Huish Trivallis (resigned November 2021) Kath Palmer Cadwyn Housing Association Debbie Green - Coastal Housing Group Sara Brock . Hafod Housing Association ; Scott Sanders - Linc Cymru. Andrew Vye Pob! Group Kyle Burgess Monmouthshire Housing Association Lesley Kirkpatrick Independent Natasha Peets Independent Abdi Seagulle Taff Housing Association Alan Brunt Bron Afon Housing Association (appointed November 2021) Company Secretary S Ropke . : . Page 3 | : | ; ## COMMUNITY HOUSING CYMRU : REPORT OF THE TRUSTEES | FOR THE YEAR ENDED 31 MARCH 2022 ceuce| REFERENCE AND ADMINISTRATIVE DETAILS Auditors | Bevan Buckland LLP AndCharteredStatutory AccountantsAuditors Ground Floor Cardigan House Castle Court | Swansea Enterprise Park : Swansea SA7SLA ; | STATEMENT OF TRUSTEES' RESPONSIBILITIES . The trustees (who are also the directors of Community Housing Cymru for the purposes of company law) are responsible for preparing Ithe Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of treland" Company ewhecuires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to | - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charity SORP; - make judgements and estimates that are reasonable and prudent; . - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. ’ The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as ty trustees are aware: - there is no|relevant audit information of which the charitable company's auditors are unaware; and - fhe trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. AUDITORS | The auditors, pen Buckland LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting. Approved by order of the board of trustees ON ........ ee eeesseseeeeteeeereeeeeees and Signed on its behalf by: | | : | | |Page 4 ft . . ## REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF COMMUNITY HOUSING CYMRU ## Opinion We have audited the financial statements of Community Housing Cymru (the ‘charitable company’) for the year ended 31 March 2022 which comprise the Statement of Financial Activities, the Statement of Financial Position, the 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 (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’. - In our opinion the financial statements: - give a true and fair view of the state of the charitable company's affairs as at 31 March 2022 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; - - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’; and - - have been prepared in accordance with the requirements of the Companies Act 2006. ## Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors’ responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's 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. Ce, Conclusions relating to going concern In auditing the financial statements, we have concluded that the trustees’ 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 charitable company's 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 trustees with respect to going concern are described in the relevant sections of this report. ## Other information The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. 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 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 this gives rise to a material misstatement in the financial statements themselves. 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 Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and - the Report of the Trustees has been prepared in accordance with applicable legal requirements. ## Matters on which we are required to report by exception In'the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees. - - We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records and returns: or - - certain disclosures of trustees’ remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit; or - the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees. : Page 5 € | ! | REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF COMMUNITY HOUSING CYMRU Responsibilities of trustees , As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company 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 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 charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting lunless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Our responsibilities for the audit of the financial 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 a Report of the Independent Auditors that includes our opinion. 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. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Extent to which-the audit was considered capable of detecting irregularities, including fraud We identify and assess the risks of material misstatement of the Financial Statements, whether due to fraud or error, and then, design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion. | . We discussed our audit independence complying with the Revised Ethical Standard 2019 with the engagement team members waitst planning the audit and continually monitored our independence throughout the process. Identifying and assessing potential risks related to irregularities. In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following: - identifying, evaluating and complying ‘with laws and regulations and whether they were aware of any instances of non-compliance; - detecting] and responding to the risks of fraud and whether they have knowledge of any actual. suspected or alleged fraud; - the internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations; - discussing among the engagement team how and where fraud might occur in the financial statements and any potential indicators of fraud. - obtaining an understanding of the legal and regulatory frameworks that the Charity operates in, focusing on those laws and regulations that had a direct effect on the financial statements or that had a fundamental effect on the operations of the Charity, The key laws and regulations we considered in this context included the UK Companies Act and relevant tax legislation. Audit response to risks identified In addition to the above, our procedures to respond to risks identified included the following: - reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with relevant laws and regulations; - enquiring of management concerning actual and potential litigation and claims; performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud; - reading minutes of meetings of those charged with governance; - in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; - assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and - evaluating the operational rationale of any significant transactions that are unusual or outside the normal course of operations. . We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors. | | | | | Page 6 ## REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF COMMUNITY HOUSING CYMRU ## Use of our report This report is made solely to the charitable company'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 charitable company's members those matters we are requiréd to state to them in an auditors’ 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 charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed. ci Lloyd Davies (Senior Statutory Auditor) for and on behaif of Bevan Buckland LLP Chartered Accountants And Statutory Auditors Ground Floor Cardigan House Castle Court Swansea Enterprise Park . Swansea SA7DT -) (- SLAra lal verere | Page 7 ;| . | , , , , ## | | COMMUNITY HOUSING CYMRU ||||STATEMENT OFFINANCIAL
FORTHEYEAR|STATEMENT OFFINANCIAL
FORTHEYEAR|FINANCIALACTIVITIES
ENDED 31 MARCH 2022|FINANCIALACTIVITIES
ENDED 31 MARCH 2022||| |---|---|---|---|---|---|---|---| |||
|||Notes|Unrestricted
funds
£|Restricted
funds
£|2022
Total
funds
£|2021
Total
funds
£| ||INCOMEAND|ENDOWMENTS FROM||||||| ||Donations and |legacies||2|7,543|-|7,543|38,843| |||
Charitableactivities
Charitable activities
Investmentincome||4
3|1,883,014
1,164|-
-|1,883,014
1,164|1,750,081
783| ||Total
||||1,891,721|-|1,891,721|1,789,707| ||EXPENDITUREON||||||| ||Charitable activities
Charitable activities||5|1,843,761|3,636|1,847,397|1,719,506| ||NETINCOME/(EXPENDITURE)|||47,960|(3,636)|44,324|70,201| |'|Other recognised gains/(losses)
Actuarial gains/(losses) on defined benefit
schemes
||||498,000|-|498,000|(623,000)| ||Netmovementinfunds|||545,960|(3,636)|542,324|(552,799)| ||RECONCILIATIONOFFUNDS
Totalfunds broughtforward
||||(391,647)
—_|36,219
—_—__|(356,428)
—_|196,371
—_| ||TOTALFUNDSCARRIEDFORWARD
1|||154,313
OO|31,583
—<_—|185,896
——OO—|(356,428)
—=={XK®""AaE| ( i | . ! | | ,; The notes form part of these financial statements | Page 8 . | : | } ## COMMUNITY HOUSING CYMRU STATEMENT OF FINANCIAL POSITION 31 MARCH 2022 . **----- Start of picture text -----**
|||||||||| |---|---|---|---|---|---|---|---|---| |Unrestricted|Restricted|2022Total|Total2021| |funds|-|funds|funds|_|[funds]| |Notes|£|£|£|£| |FIXED|ASSETS| |Tangible|assets|.|12|.|18,816|-|18,816|37,972| |Investments|13|1|-|1|1| |18,817|-|18,817|37,973| |CURRENT ASSETS| |Debtors|14|624,125|-|624,125|647,912| |Cash|at bank|1,733,543|31,583|1,765,126|1,590,855| |-|2,357,668|31,583|2,389,251|2,238,767| |CREDITORS|'| |Amounts falling|due within|one|year|15|(1,751,172)|-|(1,751,172)|(1,589,168)| |NET CURRENT ASSETS|606,496|31,583|638,079|649,599| |TOTAL ASSETS|LESS CURRENT|LIABILITIES|625,313|31,583|656,896|687,572| |PENSION|LIABILITY|18|(471,000)|-|(471,000)|(1,044,000)| |NET ASSETS/(LIABILITIES)|154,313|31,583|185,896|(356,428)| |FUNDS|17| |Unrestricted|funds|154,313|(391,647)| |Restricted|funds|31,583|35,219| |TOTAL FUNDS|185,896|(356,428)| **----- End of picture text -----**
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for isSUC ON .........ccccsssssssscesssseseesceeeseeseeee and were signed on its behalf by: R A Martyn-JohnsTrustee 2 Renney Hae The notes form part of these financial statements Page 9 | | ## COMMUNITY HOUSING CYMRU |;|||||| |---|---|---|---|---|---| |||STATEMENTOFCASHFLOWS
FORTHEYEAR ENDED 31 MARCH 2022|||.|| ||||2022||2021| |,|Notes||£||£| |Cashflowsfromoperatingactivities
Cash generated from operations|1||180,787||121,650| |Net cashprovidedbyoperatingactivities|||180,787||121,650| |Cashflowsfrominvesting activities
Purchase oftangiblefixed assets
Saleof tangiblefixedassets
Interest received
Net cashasealin investing activities||.|(7,780)
100
1,164
(6,516)||:
(7,372)
-
783
(6,589)| |Changeincashandcashequivalentsin
the reporting period
.|in||174,271|v4|115,061| |Cashand cash equivalents atthe
beginning offrereporting period||1,590,855||:|1,475,794| |Cash and cash equivalents attheend|of||||| |thereportingperiod||1,765,126
————|||1,590,855
————| |!|||||| **----- Start of picture text -----**
.
**----- End of picture text -----**
| ( | | | | - The notes form part of these financial statements Page 10 **----- Start of picture text -----**
|
|
**----- End of picture text -----**
1. : ## COMMUNITY HOUSING CYMRU ## NOTES TO THE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2022 **----- Start of picture text -----**
||||||||||| |---|---|---|---|---|---|---|---|---|---| |RECONCILIATION|OF|NET|INCOME|TO|NET|CASH|FLOW FROM|OPERATING|ACTIVITIES| |2022|2021| |£|£| |Net income for the|reporting|period|(as|per the|Statement|of|Financial| |Activities)|44,324|70,201| |Adjustments for:| |Depreciation|charges|19,640|28,966| |Loss on|disposal|of fixed|assets|7,196|-| |Interest|received|(1,164)|(783)| |Decrease|in|debtors|23,787|86,083| |Increase|in|creditors|162,004|28,183| |Difference|between|pension|charge|and|cash|contributions|(75,000)|(91,000)| |Net cash|provided|by|operations|180,787|121,650| **----- End of picture text -----**
a 2. ## ANALYSIS OF CHANGES IN NET FUNDS **----- Start of picture text -----**
||||||| |---|---|---|---|---|---| |Ss|At|1.4.21|Cash flow|At 31.3.22| |£|£|£| |Net|cash| |Cash|at|bank|1,590,855|174,271|1,765,126| |.|1,590,855|174,271|1,765,126| |Total|1,590,855|174,271|1,765,126| **----- End of picture text -----**
Total The notes form part of these financial statements ) Page 11 | . , COMMUNITY HOUSING CYMRU NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 . | | | | 1. ACCOUNTING POLICIES ## Basis of preparation The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ‘Accounting and Reporting by Charities: 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) (effective 1 January 2019), Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. Preparation of consolidated financial statements The financial statements contain information about Community Housing Cymru as an individual company and do . not contain consolidated financial information as the parent of the group. The charity is exempt under Section 399(2A) of the Companies Act 2006 and Statutory Instrument - 2008/629 Regulation 19 from the requirements to proper consolidated financial statements. The Trustees have reviewed the subsidiary (Community Housing Cymru - Policy & Research Limited) position at the year end and feel that the difference between the amount donated to the charity compared to the income in the subsidiary is deemed immaterial to warrant consolidation. ; The total income in the subsidiary amounted to £9,599 with expenses of £2,056, this resulted in a donation of £7,543) to the charity.The net assets of the subsidiary company at the year end is £1. incom All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be ni and the amount can be measured reliably. Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity, has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. Affiliation fee income is accounted for on an accruals basis and is recognised in the period of membership. Ineo from courses and conferences is recognised when the respective event occurs. Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity, this is normally upon notification of the interest paid or payable by the bank LiabilitiesExpesiattureare recognised as expenditure; as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities, both costs directly attributable and indirect support costs. Allocation and apportionment of support costs Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the Charity's activities. A note of these costs are detailed in note 6. | Tangible fixed assets ees is provided at the following annual rates in order to write off each asset over its estimated useful life. Improvements to property - 20% straight line Plant and machinery - 20% reducing balance Fixtures and fittings - 20% reducing balance Comepier equipment - 25% straight line **----- Start of picture text -----**
Assets greater than £500 will be capitalised.
|
| Page 12
|
|
|
|
**----- End of picture text -----**
continued... . ; . cet : .., ## COMMUNITY HOUSING CYMRU NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2022 1. ## ACCOUNTING POLICIES - continued , ## Taxation The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. ## Fund accounting Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. : Designated funds are unrestricted funds earmarked by the Trustees for particular purposes falling in future time periods. . : Restricted funds are funds subject to specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The aim and use of each restricted fund is set out in the notes to the financial statements. Pension costs and other post-retirement benefits For defined benefit schemes the amounts charged to the Statement of Financial Activities are the ‘current service -. ° costs and gains and losses on settlements and curtailments. They are included as part of staff costs. Past service + +. costs are recognised immediately in the Statement of Financial Activities if the benefits have vested. If the benefits . ‘have not vested immediately, the costs are recognised over the period until vesting occurs. The interest cost and expected return on assets are shown as a net amount of other finance costs or credits adjacent to interest. Actuarial gains and losses are recognised immediately in the Statement of Financial Activities. Defined benefit schemes are funded, with the assets of the scheme held separately from those of the charity, in separate trustee administered funds. Pension scheme assets are measured at fair value and liabilities are measured on an actuarial basis using the projected unit method and discounted at a rate equivalent to the current rate of return on a high quality corporate bond of equivalent currency and term to the scheme liabilities. The actuarial valuations are obtained at least triennially and are updated at each balance. sheet date. The resulting defined benefit asset or liability, net of the related deferred tax, is presented separately after other net assets on the face of the balance sheet. ## Investments Investments are included in the accounts at market value. Where held as an ongoing investment they are included within Fixed Assets. Unrealised gains on investments held are included separately from Investment Income under ‘Other Recognised Gains’. The investment in the subsidiary is recorded at the value of the net assets on the date at which the subsidiary came into the group. , Deferred Income Deferred income represents income received but not earned as of the year end. Deferred income primarily consists of income for affiliation fees received in advance of the affiliation period. : Legal Status of the charity The Charity is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. Debtors . Trade and other debtors are recognised at the settlement amount due. ; Cash at bank and in hand ; Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Creditors and provisions . Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. ## Financial Instruments . . The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. Page 13 continued... / | | | **----- Start of picture text -----**
BS
**----- End of picture text -----**
## COMMUNITY HOUSING CYMRU ## NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022 **----- Start of picture text -----**
_
**----- End of picture text -----**
||2.|DONATIONSANDLEGACIES||||||||| |---|---|---|---|---|---|---|---|---|---|---| |||||2022|||"2021|||| |||:
Giftaid||£
7,543|||£
38,843|||| ||3.|INVESTMENTINCOME
|
|
Depositaccountinterest||2022
£
1,164|||2021
£
783|||| ||4.|INCOMEFROMCHARITABLEACTIVITIES|ACTIVITIES||||;|||| ||||.|2022|||2021||||| |||Affiliation fees
Training course fees|Activity
Charitable activities
Charitable activities|£
1,486,061
143,625|||£
1,465,027
43,341|||| |;||Marketing income &
conferencefees
Affinity!contracts
Sundryincome
PPEEquipment Income
Secondmentincome|Charitable activities
Charitable activities
Charitable activities
Charitable activities
Charitable activities|111,473
13,928
79,493
-
48,434|.|©|111,352
- 13,047
20,720
96,594
-|:|,
,|,
|| ||||||41,883,014|||1,750,081|||| ||5.|CHARITABLE ACTIVITIES COSTS|||||,|||| ||||
|
Charitable activities|Direct
Costs
£
;
1,672,310|Support
costs (see
note6)
£
175,087|||Totals
£
1,847,397|||| ||6.|suralCOSTS||||||||| |||||Support||||||| |||||Other|costs|||Totals|||| ||||£|£|||£|||| |||“anvactivities|149,087|26,000||.|175,087|;||| |||Support costs, included in the above, are as follows:
|||2022
Charitable
activities|||2021
Total
activities|||| ||||
IT Costs
Consultancy& Professionalfee
Bank charges||£
87,754
48,385
1,578|||£
43,883
44,715
510|||| |||Audit fees||11,370|||6,742|||| |||Intereston pension scheme liabilities
|||26,000
175,087|||15,000
110,850||||| |||'
—
—
|||||||||| ||||||||||||||||||||
|,| |||:|:|:|:|:|:|:|:|:| ||||
-||||||||| ||||||||||||| ||||||||||||| |||||||||||||| ||||Page14||||continued...|||| : 8. . TRUSTEES’ REMUNERATION AND BENEFITS ## COMMUNITY HOUSING CYMRU **----- Start of picture text -----**
.
**----- End of picture text -----**
## NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022 ## 7. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): **----- Start of picture text -----**
|||||||| |---|---|---|---|---|---|---| |2022|2021| |£|£| |Depreciation|- owned|assets|19,640|28,966| |Deficit|on|disposal|of fixed|assets|7,196|-| |Audit fees|11,370|6,742| **----- End of picture text -----**
: There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021. ## Trustees’ expenses There was no reimbursement of travel expenses to trustees in the year (2021: ENIL). . 9 STAFF COSTS ~ **----- Start of picture text -----**
|||||| |---|---|---|---|---| |2022|2021| |£|£| |Wages|and|salaries|947,456|874,983| |Social|security|costs|94,164|90,533| |Other pension|costs|54,244|53,232| |1,095,864|1,018,748| **----- End of picture text -----**
The average monthly number of employees during the year was as follows: **----- Start of picture text -----**
||||||| |---|---|---|---|---|---| |"|2022|2021| |Central|Services|4|4| |Communications|3|3| |Policy|and|member services|;|12|12| |Events|3|3| |.|22|22| **----- End of picture text -----**
The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was: . **----- Start of picture text -----**
|||||| |---|---|---|---|---| |2022|2021| |£60,001|-|£70,000|2|1| |£70,001|- £80,000|1|1| |£100,001|- £110,000|1|1| |4|3| **----- End of picture text -----**
At the year end there were loans made to other staff members in order to purchase vehicles amounting to £nil (2021: £13,570). During the year the total employee benefits received by key management personnel amounted to £277,559 (2021: £439,592). The Key management personnel of Community Housing Cymru is its Senior Management Group. The total benefits are lower for 2022 due to a restructure in the year. Page 15 continued... ; | | , ||:
:
,|COMMUNITYHOUSINGCYMRU|COMMUNITYHOUSINGCYMRU||||| |---|---|---|---|---|---|---|---| ||NOTES TOTHE FINANCIAL STATEMENTS- continued||||||| ||FORTHEYEARENDED 31 MARCH|||2022|||| |10.|COMPARATIVESFORTHESTATEMENTOFFINANCIALACTIVITIES
Unrestricted||||Restricted||Total| ||||||funds
£|funds
£||funds
£| ||INCONIEAND ENDOWMENTSFROM||||||| ||penatineandlegacies
Charitable activities
caneactivities
Investment income|||38,843
1,750,081
783|-
-
-||38,843
1,750,081
783| ||Total
||||1,789,707|-||1,789,707| ||EXPENDITUREON
Charitable activities
inactivities|||1,719,506|-||1,719,506| ||NETINCOME
||:||70,201|.a||70,201| ||Other recognised gains/(losses)
Actuarjal gains/(losses) on defined
schemes|benefit||(623,000)|-||(623,000)| ||Netmovement infunds|||(552,799)|-||(552,799)| ||RECONCILIATIONOFFUNDS
Totalfunds broughtforward|||161,152|35,219||196,371| ||TOTAL FUNDSCARRIEDFORWARD|||(391,647)|35,219||-
(356,428)| |11.|Taxation
)||||||| ||Asa registered charity, there is no liability to taxon income and gains falling within section 505 ofthe Taxes Act
1988 or s256 of the Taxation of Chargeable Gains Act 1992, insofar as these are applied to the charitable objects
ofthe Charity.||||||| |12.|TANGIBLEFIXEDASSETS
||Improvements
to
property|Plantand
machinery|Fixtures
and
fittings|Computer
equipment||Totals| ||i|£|£|£|£||£| ||cost
At 1 Apri2021
Additions
Dispopals
At31 March2022|109,473
-
(109,473)
-
—_|19,277
-
(19,277)
-
—__|38,105
-
(38,105)
-
—_—_—___|117,662
7,780
(87,236)
38,206
—___||284,517
7,780
(254,091)
38,206
——_| ||DEPRECIATION
At 4 April2021
Chargeforyear
Elimirjatedondisposal|101,849
7,624
(109,473)|16,318
592
(16,910)|32,990
1,023
(34,013)|95,388
10,401
(86,399)||246,545
19,640
(246,795)| ||At31Merch2022
,|-|;
-|-|19,390||19,390| ||NET BOOKVALUE||||||| ||At31-2022
At31|March 2021|-
7,624|-
2,959|-
5,115|18,816
22,274||18,816
37,972| |||||||||:| ||||Page16|||_|continued...| } | 1 f : , - 14. ; ## COMMUNITY HOUSING CYMRU ## NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2022 ## 13. FIXED ASSET INVESTMENTS |FIXED ASSET INVESTMENTS|||||| |---|---|---|---|---|---| |||||Shares|in| |||||group|| ||||undertakings||| |||||£|| |MARKETVALUE|||||| |At1 April 2021 and 31 March2022||.|||4| |NETBOOKVALUE|||||| |At 31 March 2022|||||1| |||||=_———|| |At 31 March 2021|||||1| |Therewere no investment assets outside the UK.|||||| ||||Shares|in group|| ||||undertakings||| |Cost orValuation|||£||| |Community Housing Cymru - Policy|& Research|||4|| ||||||1| The shares in group undertakings are the charitable company’s investment in the trading subsidiary, Community Housing Cymru - Policy and Research Limited, a company that generates funds for and is operated by Community Housing Cymru. The investment represents the holding of 100% of the ordinary shares of £1 each. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 15. 16. |||2022|2021| |---|---|---|---| |||£|£| |Trade debtors||504,941|544,869| |Other debtors||119,184|103,043| |||624,125|647,912| |CREDITORS: AMOUNTS FALLING DUE WITHIN ONEYEAR|||| |||2022|2021| |||£|£| |Tradecreditors||48,089|43,939| |Social securityand othertaxes||22,546|-| |Pension creditor||18,207|-| |Other creditors||175,787|83,333| |Income in advance|:|1,486,543|1,461,896| ||,||| |||1,751,172|1,589,168| |LEASINGAGREEMENTS|||| |Minimum lease payments undernon-cancellable operating leases fall due as follows:|||| |||2022|2021| |||£|£| |Within oneyear||-|73,156| |Between one and fiveyears||-|13,060| |||-|86,216| Page 17 continued... | . | , , | | } | NOTES TO THE FINANCIAL STATEMENTS-[continued] FOR THE YEAR ENDED 31 MARCH 2022 **----- Start of picture text -----**
|
**----- End of picture text -----**
## COMMUNITY HOUSING CYMRU ||||
NOTES TO THE FINANCIAL STATEMENTS-THE FINANCIAL STATEMENTS-FINANCIAL STATEMENTS-STATEMENTS-- [continued]||
NOTES TO THE FINANCIAL STATEMENTS-THE FINANCIAL STATEMENTS-FINANCIAL STATEMENTS-STATEMENTS-- [continued]||
NOTES TO THE FINANCIAL STATEMENTS-THE FINANCIAL STATEMENTS-FINANCIAL STATEMENTS-STATEMENTS-- [continued]||
NOTES TO THE FINANCIAL STATEMENTS-THE FINANCIAL STATEMENTS-FINANCIAL STATEMENTS-STATEMENTS-- [continued]||||| |---|---|---|---|---|---|---|---|---|---| ||-|FOR THE YEARTHE YEARYEAR ENDED 31 MARCH 2022|||||||| |||||||||||| |17.||MOVEMENTINFUNDS|||Net
movement|Transfers
between||At|| |||||At 1.4.21
£||in funds
£|funds
£||31.3.22
£|| |||Unrestricted funds
GeneralFund
Housing FuturesProgramme
IT/Digttal Strategy|(439,623)
36,000
11,976||545,960
-
-|47,976
(36,000)
(11,976)
,||154,313
-
-|| ||||(391,647)||545,960|-||154,313|| |||Restrictedfunds
Primary FireAuthority Scheme|35,219||(3,636)|-||31,583|| |||TOTAL FUNDS|(356,428 )
i||542,324
_|-
_—||185,896
—_—|| |||Netmovementinfunds,included intheaboveare|areasfollows:||||,||| |||'
||Incoming
resources
£|.|Resources
expended
£|Gains and
losses
£||Movement
infunds
£|| |||Unrestrictedfunds
GeneralFund
Restrictedfunds
Primary FireAuthorityScheme|4,891,721
-||(1,843,761 )
(3,636)|498,000
-||545,960
(3,636)|—| |||TOTAL FUNDS
{|1,891,721
_—_||(1,847,397)
——|498,000
—S———||542,324
—H—-|| |||Comparatives formovement infunds|||||||| ||||
|||||Net
movement||At|| ||||||At 1.4.20|in funds||31.3.21|| |||Unrestricted funds
General Fund
Housing Futures Programme|||£
95,152
36,000|£
(534,775)
-||£
(439,623)
36,000|| |||IT/Digital Strategy|||30,000|(18,024)||11,976|| ||||||161,152|(552,799)||(391,647)|| |||Restrictedfunds
Primary FireAuthorityScheme|||35,219|-||35,219|| ||||||;|—__—_|—___||—__|| |||TOTAL FUNDS|||196,371|(552,799)||(356,428)|| |||comfertvenetmovementinfunds, included|intheaboveareasfollows:||follows:||||| |||||Incoming
resources||Resources
expended|Gainsand
losses||Movement
infunds|| ||||£||£|£||£|| |||Unrestrictedfunds
GeneralFund
IT/Digital Strategy
||1,789,707
-
—___
1,789,707||(1,701,482)
(18,024)
—___—_
(1,719,506)|(623,000)
-
——____
(623,000)||(534,775)
(18,024)
—_——___
(552,799)|| |||TOTAL FUNDS|1,789,707||(1,719,506)|(623,000)||(552,799)|| ||||Page 18|||||continued...|| |||||||||||| |||||||||||| COMMUNITY HOUSING CYMRU . , . ## NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2022 ## 17. MOVEMENT IN FUNDS - continued A current year 12 months and prior year 12 months combined position is as follows: **----- Start of picture text -----**
||||||||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |Net|Transfers| |movement|between|At| |At|1.4.20|in|funds|funds|31.3.22| |£|£|£|£| |Unrestricted|funds| |General|Fund|95,152|11,185|47,976|154,313| |Housing|Futures|Programme|36,000|-|(36,000)|-| |IT/Digital|Strategy|30,000|(18,024)|(11,976)|-| |161,152|(6,839)|-|154,313| |Restricted|funds| |Primary|Fire Authority Scheme|35,219|(3,636)|-|31,583| |TOTAL FUNDS|196,371|(1 0,475)|-|185,896| |A|current|year|12|months|and|prior|year|12|months|combined|net|movement|in|funds,|included|in|the|above|are| |follows:| |Incoming|)|Resources|Gains and|Movement| |resources|expended|losses|in funds| |£|£|£|£| |Unrestricted|funds| |General|Fund|3,681,428|(3,545,243)|(125,000)|11,185| |IT/Digital|Strategy|-|(18,024)|-|(18,024)| |3,681 ,428|(3,563,267|)|(125,000)|(6,839)| |Restricted|funds| |Primary|Fire Authority Scheme|-|(3,636)|-|(3,636)| |TOTAL FUNDS|3,681 ,428|(3,566,903|}|(125,000)|(10,475)| **----- End of picture text -----**
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: ## Purpose of fund : Primary Fire Authority Scheme - This restricted scheme has been set up to support the housing associations sector fire safety provision thr ough assured advice froma single fire service. 18. EMPLOYEE BENEFIT OBLIGATIONS ## The Pensions Trust - Social Housing Pension Scheme (SHPS) SHPS is a multi employer pension scheme which provides benefits to non associated participating employers.The scheme is classed as a defined benefit scheme in the UK.The scheme is classified as ‘last man standing’ arrangement.Therefore each employer is liable for other participating employers’ obligations if those employers are unable to meet their share of the scheme deficit following withdrawal from the scheme. Participating employers are legally required to meet their share of the scheme deficit on an annuity purchase basis on withdrawal from the scheme. , Page 19 continued... . ! ; -. ; , | } : ## COMMUNITY HOUSING CYMRU ## NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2022 ## 18. EMPLOYEE BENEFIT OBLIGATIONS- continued ## The amounts recognised in the Statement of Financial Activities are as follows: ; ||||Defined|benefit|| |---|---|---|---|---|---| |||||pension|plans|| ||
Current service cost
Netinterestfrom netdefined benefit
asset/liability
Pastservicecost
Expenses|||2022
£
-
22,000
-
4,000|2021
£
-
7,000
-
4,000|| ||||26,000|11,000|| |||||=—=====|—|| |Actual return on plan assets|||356,000|376,000|| |Changes inthe presentvalueofthedefined|benefit obligation|areasfollows:||.|| ||.||||| |||;||Defined
pension|benefit
plans|| ||||2022|.
2021|| ||
Opening defined benefit obligation
Interestcost
Expenses
Actuarial losses/(gains)from
scheme experiences
Benefits paid
Remeasurements:||:|£
4,625,000
101,000
4,000
242,000
(103,000)|£
3,691,000
86,000
4,000
(102,000)
(82,000)|| |Actuarial (gains)/losses from changes in|||||| |demographicassumptions|||(72,000)|17,000|| |Actuarial (gains)/lossesfrom changes in
financial assumptions
||||(391,000)
4,406,000|1,011,000
4,625,000|~| |Changes inthefairvalueofschemeassets are
||assets areasfollows:||||| ||||Defined|benefit|| |||||pensionplans
2022|plans
2021|| |Opening fairvalue ofscheme assets
Contributions by employer
Interest Income
Benefits paid
Returnon planassets(excluding interest
income)|||£
3,581,000
101,000
79,000
(103,000)
277,000|£
3,179,000
108,000
75,000
(82,000)
301,000|| |||||3,935,000|3,581,000|| ## i | | . | | i | Page 20 continued... COMMUNITY HOUSING CYMRU ; NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2022 | | ; ) || , } } } } ) | | | | | } | , } | | | } ## 18. EMPLOYEE BENEFIT OBLIGATIONS- continued The amounts recognised in other recognised gains and losses are as follows: **----- Start of picture text -----**
Defined benefit
pension plans
2022 2021
Actuarial (gains)/losses from changes in £ £
demographic assumptions 72,000 (17,000)
Actuarial (gains)/losses from changes in .
financial assumptions 391,000 (1,011,000)
Return on plan assets (excluding interest ;
income) 277,000 301,000
Actuarial gains/(losses) (242,000) 102,000
Other : - 2,000
498,000 (623,000)
**----- End of picture text -----**
## The major categories of scheme assets as a percentage of total scheme assets are as follows: **----- Start of picture text -----**
, , Defined benefit
pension plans
2022 2021
Global Equity 19.00% 15.95%
Absolute Return 4.00% 5.53%
Alternative risk premia 3.00% 3.77%
Infrastructure 7.00% 6.67%
Liability Driven Investment 28.00% 25.41%
Corporate Bond Fund 7.00% 5.92%
Emerging Markets Debt 3.00% 4.05%
Risk Sharing : 3.00% 3.63%
Insurance linked Securities . 2.00% 2.40%
Secured income 4.00% 4.16%
Other 20.00% 22.51%
100.00% 100.00%
**----- End of picture text -----**
Principal actuarial assumptions at the Statement of Financial Position date (expressed as weighted averages): ||2022|2021| |---|---|---| |Discount rate
Inflation (RPI)
Inflation (CPI)|2.79%
3.49%
3.15%|2.20%
3.25%
2.87%| |SalaryGrowth|4.15%|3.87%| ## 19. ## CONTINGENT LIABILITIES : ) The charity has been notified by the Pensions Trust of the estimated employer debt on withdrawal from the Pension Plan, based on the financial position of the scheme as at 30 September 2021. As of this date, the employer debt for the charity was £3,100,623. The charity currently has no intention of withdrawing from the Plan. We have been notified by the Trustee of the Scheme that it has performed a review of the changes made to the Scheme's benefits over the years and the result is that there is uncertainty surrounding some of these changes. The Trustee has been advised to seek clarification from the Court on these items. This process is ongoing and the matter is unlikely to be resolved before the end of 2024 at the earliest. It is recognised that this could potentially impact the value of Scheme liabilities, but until Court directions are received, it is not possible to calculate the impact of this issue, particularly on an individual employer basis, with any accuracy at this time. No adjustment has been made in these financial statements in respect of this potential issue. . Page 21 continued... i | ## COMMUNITY HOUSING CYMRU | , NOTES TO THE FINANCIAL STATEMENTS- continued ; FOR THE YEAR ENDED 31 MARCH 2022 ## 20. RELATED PARTY DISCLOSURES Due to the nature of Community Housing Cymru's operations and its membership being drawn from a wide range of Housing Associations, it is inevitable that transactions will take place with organisations in which a member of Community Housing Cymru may have an interest. All transactions involving organisations in which a member may have an interest are conducted at arms length. During ithe year the Charity was gift-aided a donation of £7,543 (2021: £38,843) from its subsidiary, Community Housing Cymru Policy and Research Limited. At the year end there was a balance owed to Community Housing Cymru of £67,079 (2021: £58,036) from its subsidiary company. | ## 21. ULTIMATE CONTROLLING PARTY | The trustees consider there to be no ultimate controlling party. ## 22. SHARE CAPITAL The charitable company is limited by guarantee and as such has no share capital. In the event of the charitable company being wound up, the liability of each member is limited to £1. i | | | | | i | . . **----- Start of picture text -----**
|
**----- End of picture text -----**
## i **----- Start of picture text -----**
1
**----- End of picture text -----**
## | 1 | ; Page 22 | , , . ; ## COMMUNITY HOUSING CYMRU ||;||||||| |---|---|---|---|---|---|---|---| |.|DETAILED|STATEMENT OF FINANCIALACTIVITIES|||||| ||FORTHE|THEYEAR|ENDED 31 MARCH 2022||||| |||||2022
£||2021
£|| |INCOMEAND ENDOWMENTS|||||||| |Donations and legacies|||||||| |Gift aid|||||7,543|38,843|| |Investment income|||||||| |Depositaccount interest|||||1,164|783|| |Charitable activities||.|||||| |Affiliation fees||||1,486,061||1,465,027|| |Training course fees||||143,625||43,341|| |Marketing income& conferencefees||||111,473||111,352|| |Affinity contracts|||||13,928|13,047|| |Sundry income|||||79,493|20,720|| |PPE Equipment Income|||||-|96,594|| |Secondmentincome|||||48,434|-|| |.||||1,883,014||1,750,081|| |Total incoming resources|||.|1,891,721||1,789,707|| |EXPENDITURE|||||||| |Charitable activities|||||||| |Wages||||947,456||874,983|| |Social security
Pensions
Rates andwater
Insurance
Lightand heat||||-|94,164
54,244
4,784
99,447
9,023|90,533
53,232
4,945
79,744
8,564|-| |Telephone|||||21,192|20,327|| |Printing, postage& stationery
Sundries|||||2,441
32,415|4,152
42,825|| |Global accounts and levys
Training courses|||||1,964
48,107|2,000
27,813|| |Marketing & conferences|||||31,374|64,880|| |Public relations & communications|||||10,517|19,127|| |Rent& building insurance|||||99,258|77,807|| |Repairs, renewals& cleaning|||,||7,669|3,640|| |Stafftravel|.|L|||1,756|1,322|| |Staff training& recruitment
Translation costs|||||54,214
20,092|24,820
20,314|| |Publications&subscriptions|||||24,540|17,668|| |Meeting & Council travel costs|||||302|3,831|| |Staff charity expenses|||||36|-|| |Entertaining|||||162|-|| |PPE Equipment expenditure|||||~|97,163|| |Dilapidation costs|||||45,000|40,000|| |Agency costs|||||25,317|-|| |Bad debts|||||10,000|~|| |Depreciation ofimprovements to property|||||7,624|15,614|| |Depreciation ofplant& machinery|||||592|740|| |Depreciation offixtures &|fittings||||1,023|1,279|| |Depreciation ofcomputerequipment|equipment||||10,401|11,333|| |Losson sale oftangiblefixed assets|||||7,196|-|| |||||1,672,310||1,608,656|| This page does not form part of the statutory financial statements . Page 23 : / | nn . 1 ; : ## COMMUNITY HOUSING CYMRU | ## DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022 **----- Start of picture text -----**
|||||| |---|---|---|---|---| |,|“2022|2021| |||£|£| |Support|costs:|.| |Other||| |IT|Costs|87,754|43,883| |Consultancy &|Professional|fee|48,385|44,715| |Bank|charges|1,578|510| |Audit fees|11,370|6,742| |Support|||149,087|95,850| |interest|costs|,| |on|pension scheme|liabilities|26,000|15,000| |Total resources expended|.|4 847,397|1,719,506| |Net income|||44,324|70,201| **----- End of picture text -----**
5 | | | po ! | This page does not form part of the statutory financial statements | | | i :|| | | . Page 24 Virtual Cabinet Portal Digital Signatures ## Digital Signature Verification You can verify that this is a genuine Virtual Cabinet Document Portal signed document by uploading it to the following secure web page: https://www.virtualcabinetportal.com/VerifySignedDocument ## Signature Dates and Times All dates and times shown in the signatures below are expressed in Coordinated Universal Time (UTC), which is generally equivalent to GMT. You can find out more about UTC at the following web page: http:/Avww.virtualcabinetportal.com/WhatIsUTC ## Signature 1 Signed by Paula Kennedy using authentication code WURYc3FKQkQyby5S at IP address 81.149.104.13, on 2022/09/29 12:45:14 Z. Paula Kennedy's e-mail address is: Paula.Kennedy@melinhomes.co.uk. Virtual Cabinet Portal Digital Signatures , | ## Digital Signature Verification You can verify that this is a genuine Virtual Cabinet Document Portal signed document by uploading it to the following secure web page: ## https:/Awww.virtualcabinetportal.com/VerifySignedDocument ## Signature Dates and Times All dates and times shown in the signatures below are expressed in Coordinated Universal Time (UTC), which is generally equivalent to GMT. You can find out more about UTC at the following web page: ' http://www.virtualcabinetportal.com/WhatlsUTC ## Signature 1 Signed by Andrew Martyn - Johns using authentication code MUM3NFloYmQxLyRC at IP address 45.80.160.169, on 2022/09/29 16:35:51 Z. Andrew Martyn - Johns's e-mail address is: andrewm-j@hotmail.com.