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2025-03-31-accounts

REGISTERED COMPANY NUMBER: 02380564 (England and Wales) REGISTERED CHARITY NUMBER: 1128527

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

COMMUNITY HOUSING CYMRU

Bevan Buckland LLP (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 31 MARCH 2025

Page
Report of the Trustees 1 to 6
Report of the Independent Auditors 7 to 9
Statement of Financial Activities 10
Statement of Financial Position 11
Statement of Cash Flows 12
Notes to the Statement of Cash Flows 13
Notes to the Financial Statements 14 to 28
Detailed Statement of Financial Activities 29 to 30

COMMUNITY HOUSING CYMRU

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

Community Housing Cymru is the voice of not-for-profit housing associations and community mutuals in Wales.

Our 30 members provide almost 174,000 homes to more than 300,000 people, housing one in ten in every region of Wales. These homes include housing with care, support and/or supervision, supporting tenants with diverse needs to live well in their communities.

Our members work throughout Wales, providing homes and services to a wide range of people. As their trade body, we fight for the things they need to support their communities, and to ensure that together we can achieve our vision.

As an influential voice, we work to secure stable and sufficient funding, alongside a policy framework that supports investment in new and existing homes and support services.

We also act as a hub to connect our members to find collective solutions to the challenges we face.

Our long term vision

To make Wales a country where good housing is a basic right for all.

Our mission

In line with our 2023-27 Corporate Plan, we are focused on the actions that will support our members to make the biggest difference in their communities. We will work hard to secure a stable and sufficient funding and policy framework to support investment in new and existing homes and support services

Charitable objectives

Our charitable objectives are to promote - in such a manner as shall be consistent with guidance published by the Charity Commission 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.

We do this by:

In this, the phrase "voluntary housing sector" shall be interpreted in accordance with Charity Commission guidance and means charities and voluntary organisations (with housing related objectives).

"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 considered the Charity Commission's guidance on public benefit, including 'Public benefit: running a charity (PB2)'.

Corporate Plan 2023/24 - 2027/28

The Corporate Plan includes four key goals to add clarity to our work over the period:

  1. Secure the tools, funding and policy that supports good quality housing association homes.

  2. Influence the policy environment so that housing associations can continue to provide homes that are affordable, and effectively support tenants facing financial hardship.

  3. Promote trust in housing associations and support them to build strong partnerships locally.

  4. Ensure that CHC is an agile and inclusive membership body and an exemplar employer.

Internally CHC organises its work via an annual delivery plan. This sets out the key projects that we will undertake to move us towards the achievement of our goals and overall mission and vision. Progress against the delivery plan is reported biannually to the Board.

Page 1

COMMUNITY HOUSING CYMRU

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

Achievements and performance

This year, we have made significant progress against the four key goals outlined in our corporate plan. Our work has focused on both influencing the external environment on behalf of our members and connecting them with expertise, decision-makers, and peers.

In 2024/25 notable influencing successes included securing:

We have developed our evidence base for policy solutions, including:

We have connected our members to:

During the year, we have also continued work to ensure that CHC is an agile and inclusive membership body and an exemplar employer, including:

Member Voice

Our member engagement offer has provided opportunities for every housing association to engage with us in over 1,800 instances this year. This includes:

Through our 4 in-person conferences we welcomed over 300 members as part of over 560 delegates.

Feedback from our CEO pulse survey is captured at mid-year and year end. At year end, 100% of those responding said that membership is value for money and are positive about their organisation's engagement with CHC.

Page 2

COMMUNITY HOUSING CYMRU

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

Looking Forward

Our 2025/26 delivery plan sets out the projects we plan to undertake over the next financial year to make progress against our long term aims.

Key projects include:

In addition, we are reinvigorating the services provided through our subsidiary company. Projects include:

Strategy and Policy Review

Last year we started the process of reviewing and revising the key corporate strategies that support the delivery of our Corporate Plan. External Affairs, EDI and Commercial strategies are now agreed and in place. We will continue to develop this work in 25/26.

We also began a programme of reviewing our CHC handbook, which contains all HR policies for line managers and staff. We will complete this work during 25/26.

Other policies reviewed this year include:

Financial Review

The charity has reported net income for the 2024/25 year of £211,487 compared to net income of £282,898 in the previous year. This is prior to the actuarial gains/(losses) on the defined benefit scheme. Following the actuarial adjustment, the surplus for the year is £267,487 compared to a surplus of £133,898 in the previous reporting period.

Reserves Policy

The trustees review the Reserves Policy each year. The Policy states that " we will always seek to hold a minimum level of reserves in cash, excluding the pensions liability recorded on the balance sheet, sufficient to cover at least three months of contractual requirements in the unlikely event of the charity winding down and ceasing to trade. Main costs included salaries / redundancy payments and future operational commitments.

Page 3

COMMUNITY HOUSING CYMRU

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

The charity will also seek to maintain further cash funds in reserves of at least an additional £200,000 to enable the maintenance of services to members in the event of a downturn, provide funds for appropriate capital investment to help meet charitable objectives and enable restructuring of the charities operations in the event of operating conditions and the environment changing significantly and also to provide assurance that the charity can meet any financial obligations as they fall due.

In the event of cash reserves falling beneath the levels specified in this policy, the trustees will seek to recover the position within a 3 year period."

Going Concern

We are pleased to report a surplus against Unrestricted Funds of £273,997 for the year ended 31st March 2025 which contributes to the reserves levels required by our reserves policy and charity commission recommendations. The financial statements show that the charity has unrestricted reserves of £488,687 at the year end, and held a provision for future pension liabilities of £361,000. The restricted funds held at the year end amounted to £17,809. As always, we held a significant cash holding at the year end of £1,340,602 due to our members paying their affiliation fees in advance of the start of the year. The Board are therefore satisfied that it is appropriate to prepare the accounts on a going concern basis.

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.

Charity constitution

Community Housing Cymru 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.

Recruitment and appointment of new trustees

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 our 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.

The Trustees are empowered to appoint and remove Trustees in accordance with the provision of the Articles of Association. All Trustees of the charity receive induction and training and no Trustees receive remuneration for their work with the Charity.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

02380564 (England and Wales)

Registered Charity number

1128527

Registered office

7-8 Park Place Cardiff CF10 3DP

Page 4

COMMUNITY HOUSING CYMRU

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

Trustees

Andrew Martyn-Johns (FormerChair) Gerraint James Oakley (Chair) Alan Brunt (Vice Chair) Kyle Burgess (Treasurer) Andrew Vye Lesley Kirkpatrick Stacy Barry Rachel Storr-Barber Sarah Schofield Sharon Lee Aled Rowlands Hugh Barrett

Company Secretary Katrina Michael Jane Shorrock

Senior Management Team

Stuart Ropke Clarissa Corbisiero Jane Shorrock Rhea Stevens Bethan Proctor Elly Lock Louise Price-David

Independent (Resigned November 2024) Independent ( Appointed November 2024) Bron Afon Housing Association Cadarn Housing Group Pobl Group (Resigned November 2024) First Choice Housing Association Merthyr Valleys Homes (Appointed November 2024) ClwydAlyn Housing Association (Appointed November 2024) Adra Housing Association (Appointed November 2024) Aelwyd Housing (Appointed November 2024) Independent Independent Resigned March 2025 Appointed March 2025 Chief Executive Deputy Chief Executive / Director of Policy & External Affairs Head of Finance and Business Support Director of External Affairs Head of Policy & External Affairs Head of Policy & External Affairs Head of Member Services and Partnerships

Auditors

Bevan Buckland LLP (Statutory Auditors) Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA7 9LA

Bankers

HSBC UK Bank plc 1 Centerary Square Birmingham B1 1HQ

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 the 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 Ireland".

Company law requires the trustees to prepare financial statements for each financial year. Under that law, the trustees 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 trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the 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

Page 5

COMMUNITY HOUSING CYMRU

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued

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 the trustees are aware:

Approved by order of the board of trustees on 1st September 2025, signed on 23 October 2025 and signed on its behalf by:

G J Oakley - Trustee

Page 6

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 2025 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:

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.

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:

Page 7

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF COMMUNITY HOUSING CYMRU

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:

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 unless 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 2024 with the engagement team members whilst 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:

Page 8

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF COMMUNITY HOUSING CYMRU

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;

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.reviewing the financial statement disclosures and testing to supporting documentation to assess compliance.

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.

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 required 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.

Llinos Williams (Senior Statutory Auditor) for and on behalf of Bevan Buckland LLP (Statutory Auditors) Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA7 9LA

Date: 24th October 25

Page 9

COMMUNITY HOUSING CYMRU

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
3
Charitable activities
6
Charitable activities
Other trading activities
4
Investment income
5
Total
EXPENDITURE ON
Raising funds
7
Charitable activities
8
Charitable activities
Total
NET INCOME/(EXPENDITURE)
Other recognised gains/(losses)
Actuarial gains/(losses) on defined benefit
schemes
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
31,900
1,984,064
54,072
51,305
2,121,341
54,072
1,849,272
1,903,344
217,997
56,000
273,997
214,690
488,687		 Restricted
funds
£
-
-
-
-
-
-
6,510
6,510
(6,510)
-
(6,510)
24,319
17,809		 2025
Total
funds
£
31,900
1,984,064
54,072
51,305
2,121,341
54,072
1,855,782
1,909,854
211,487
56,000
267,487
239,009
506,496		 2024
Total
funds
£
3,397
1,897,192
45,816
28,533
1,974,938
45,816
1,646,224
1,692,040
282,898
(149,000)
133,898
105,111
239,009

The notes form part of these financial statements

Page 10

COMMUNITY HOUSING CYMRU

STATEMENT OF FINANCIAL POSITION 31 MARCH 2025

Notes
FIXED ASSETS
Intangible assets
15
Tangible assets
16
Investments
17
CURRENT ASSETS
Debtors
18
Investments
19
Cash at bank
CREDITORS
Amounts falling due within one year
20
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
ACCRUALS AND DEFERRED INCOME
22
PENSION LIABILITY
24
NET ASSETS/(LIABILITIES)
FUNDS
23
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Unrestricted
funds
£
-
14,785
1
14,786
884,805
500,000
1,322,793
2,707,598
(197,314)
2,510,284
2,525,070
(1,675,383)
(361,000)
488,687		 Restricted
funds
£
-
-
-
-
-
-
17,809
17,809
-
17,809
17,809
-
-
17,809		 2025
Total
funds
£
-
14,785
1
14,786
884,805
500,000
1,340,602
2,725,407
(197,314)
2,528,093
2,542,879
(1,675,383)
(361,000)
506,496
488,687
17,809
506,496		 2024
Total
funds
£
3,306
23,785
1
27,092
1,038,619
-
1,536,287
2,574,906
(186,586)
2,388,320
2,415,412
(1,638,403)
(538,000)
239,009
214,690
24,319
239,009

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 on 1st September 2025 by the Board of Trustees and authorised for issue on 23 October 2025 and were signed on its behalf by:

G J Oakley - Trustee

The notes form part of these financial statements

Page 11

COMMUNITY HOUSING CYMRU

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash provided by/(used in) operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Interest received
Placement of fixed term deposit
Net cash (used in)/provided by investing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period		 2025
£
253,010
253,010
-
51,305
(500,000)
(448,695)
(195,685)
1,536,287
1,340,602		 2024
£
(354,572)
(354,572)
(26,511)
28,533
-
2,022
(352,550)
1,888,837
1,536,287

The notes form part of these financial statements

Page 12

COMMUNITY HOUSING CYMRU

NOTES TO THE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025

1.
RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
2025
£
Net income for the reporting period (as per the Statement of Financial
Activities)
211,487
Adjustments for:
Depreciation charges
12,306
Loss on disposal of fixed assets
-
Interest received
(51,305)
Decrease/(increase) in debtors
153,814
Increase/(decrease) in creditors
47,708
Difference between pension charge and cash contributions
(121,000)
Net cash provided by/(used in) operations
253,010
2.
ANALYSIS OF CHANGES IN NET FUNDS
At 1.4.24
Cash flow
£
£
Net cash
Cash at bank
1,536,287
(195,685)
1,536,287
(195,685)
Liquid resources
Deposits included in cash
-
-
Current asset investments
-
500,000
-
500,000
Total
1,536,287
304,315		 2024
£
282,898
16,620
845
(28,533)
(467,569)
(44,833)
(114,000)
(354,572)
At 31.3.25
£
1,340,602
1,340,602
-
500,000
500,000
1,840,602

The notes form part of these financial statements

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COMMUNITY HOUSING CYMRU

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

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 prepare 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 £86,762 (2024: £56,153) with expenses of £86,759 (2024: £52,756). The net assets of the subsidiary company at the year end are £nil (2024: £nil).

Income

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 received 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.

Income 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

Expenditure

Liabilities are 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 9.

Intangible fixed assets

Amortisation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer software - 3 years straight line

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings - 20% reducing balance

Page 14

continued...

COMMUNITY HOUSING CYMRU

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

1. ACCOUNTING POLICIES - continued

Tangible fixed assets

Computer equipment - 25% straight line

Assets greater than £1,000 will be capitalised.

Related party exemption

The charitable company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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.

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.

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.

Debtors

Trade and other debtors are recognised at the settlement amount due.

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continued...

COMMUNITY HOUSING CYMRU

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

1. ACCOUNTING POLICIES - continued

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.

Current asset investments

Current asset investments are investments which the charity holds for resale or pending their sale and cash or cash equivalents with a maturity date of less than one year. This includes cash on deposit and cash equivalents with a maturity of less than one year held for negligible risk investment purposes rather than to meet short-term cash commitments as they fall due.

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 has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's statement of financial position when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Trade debtors, loans and other receivables that have fixed or determinable payments that are not quoted in an active market are classified as 'loans and receivables'. Loans and receivables are measured at amortised cost using the effective interest method, less any impairment.

Interest is recognised by applying the effective interest rate, except for short-term receivables when the recognition of interest would be immaterial. The effective interest method is a method of calculating the amortised cost of a debt instrument and of allocating the interest income over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash receipts through the expected life of the debt instrument to the net carrying amount on initial recognition.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

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continued...

COMMUNITY HOUSING CYMRU

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

1. ACCOUNTING POLICIES - continued

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the charity transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities are classified according to the substance of the contractual arrangements entered into.

Basic financial liabilities

Basic financial liabilities, including trade and other payables and loans from fellow group companies that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are classified according to the substance of the contractual arrangements entered into.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

2. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

Significant management judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses. The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances. The results of which form the basis of making the judgements about carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates.

Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised and in any future periods affected.

Significant management judgements

The following are management judgements in applying the accounting policies of the charity that have the most significant effect on the amounts recognised in the financial statements.

Provisions

Provisions are recognised when the charity has a present obligation (legal or constructive) as a result of a past event. It is probable that the charity will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation.

These provisions require management's best estimate of the costs that will be incurred based on legislative and contractual requirements. In addition, the timing of the cash flows and the discount rates used to establish net present value of the obligations require management's judgement.

Defined benefit pension scheme

The charity has obligations to pay pension benefits to certain employees. The cost of these benefits and the present value of the asset or liability depend upon a number of factors, including life expectancy, salary increases, asset valuations and the discount rate on corporate bonds. Management estimates these factors in determining the net pension asset or liability in the balance sheet, as well as the appropriateness of the recognition of any asset. The assumptions reflect historical experience and current trends.

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continued...

COMMUNITY HOUSING CYMRU

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

3. DONATIONS AND LEGACIES

Gift aid
4.
OTHER TRADING ACTIVITIES
P&R Recharge
Trading income is generated from the activity of the subsidiary company.
5.
INVESTMENT INCOME
Deposit account interest
6.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Affiliation fees
Charitable activities
Training course fees
Charitable activities
Marketing income &
conference fees
Charitable activities
Affinity contracts
Charitable activities
Sundry income
Charitable activities
Secondment income
Charitable activities
Directors & officers liability
insurance
Charitable activities
7.
RAISING FUNDS
Other trading activities
Staff costs
Overheads - general		 2025
£
31,900
2025
£
54,072
2025
£
51,305
2025
£
1,638,407
7,570
244,251
16,091
6,792
-
70,953
1,984,064		 2024
£
3,397
2024
£
45,816
2024
£
28,533
2024
£
1,560,871
8,650
192,734
11,033
14,676
9,393
99,835
1,897,192
2025 2024
£ £
41,505 37,175
12,567 8,641
54,072 45,816

Page 18

continued...

COMMUNITY HOUSING CYMRU

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

8. CHARITABLE ACTIVITIES COSTS

Charitable activities
9.
SUPPORT COSTS
Charitable activities
Support costs, included in the above, are as follows:
IT Costs
Consultancy & Professional fees
Bank charges
Audit fees
Interest on pension scheme liabilities
10.
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets
Deficit on disposal of fixed assets
Computer software amortisation
External Audit fee		 Direct
Costs
£
1,657,048
Other
£
172,734		 Support
costs (see
note 9)
£
198,734
Support
costs
£
26,000
2025
Charitable
activities
£
42,919
112,896
956
15,963
26,000
198,734
2025
£
9,000
-
3,306
15,963		 Totals
£
1,855,782		 Totals
£
1,855,782
Totals
£
198,734
2024
Total
activities
£
43,263
76,431
553
11,726
25,000
156,973
2024
£
13,314
845
3,306
11,726

11. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.

Trustees' expenses

Travel expenses of £1,768 (2024: £138) were reimbursed to 5 (2024: 1) trustee(s) in the year.

Page 19

continued...

COMMUNITY HOUSING CYMRU

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

12. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Central Services
Communications
Policy and member services
Events		 2025
£
966,178
108,426
71,735
1,146,339
2025
4
2
12
1
19		 2024
£
869,547
107,786
57,988		 2024
£
869,547
107,786
57,988
1,035,321
2024
4
3
13
1
21

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

£60,001 - £70,000
£80,001 - £90,000
£110,001 - £120,000
£120,001 - £130,000		 2025
1
1
-
1
3		 2024
-
1
1
-
2

Included within wages and salaries costs are redundancy payments totalling £17,490. As at the current year end £17,490 remained outstanding.

Emoluments of highest paid member of staff was £120,468 (2024: £115,183).

At the year end there were loans made to other staff members in order to purchase vehicles amounting to £nil (2024: £8,500).

During the year the total employee benefits received by key management personnel amounted to £654,312 (2024: £508,913). The key management personnel of Community Housing Cymru is its Senior Management Group.

CHC contributes to defined contribution pension policies for qualifying employees. Employer contributions payable for the year amounted to £71,735 (2024: £50,361).

13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

INCOME AND ENDOWMENTS FROM
Donations and legacies
Charitable activities
Charitable activities
Other trading activities
Investment income
Total		 Unrestricted
funds
£
3,397
1,897,192
45,816
28,533
1,974,938		 Restricted
funds
£
-
-
-
-
-		 Total
funds
£
3,397
1,897,192
45,816
28,533
1,974,938

EXPENDITURE ON

Page 20

continued...

COMMUNITY HOUSING CYMRU

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued

Raising funds
Charitable activities
Charitable activities
Total
NET INCOME/(EXPENDITURE)
Other recognised gains/(losses)
Actuarial gains/(losses) on defined benefit
schemes
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
45,816
1,642,286
1,688,102
286,836
(149,000)
137,836
76,854
214,690		 Restricted
funds
£
-
3,938
3,938
(3,938)
-
(3,938)
28,257
24,319		 Total
funds
£
45,816
1,646,224
1,692,040
282,898
(149,000)
133,898
105,111
239,009

14. TAXATION As a registered charity, there is no liability to tax on income and gains falling within section 505 of the Taxes Act 1988 or s256 of the Taxation of Chargeable Gains Act 1992, insofar as these are applied to the charitable objects of the Charity.

15. INTANGIBLE FIXED ASSETS

INTANGIBLE FIXED ASSETS
Computer
software
£
COST
At 1 April 2024 and 31 March 2025 9,918
AMORTISATION
At 1 April 2024 6,612
Charge for year 3,306
At 31 March 2025 9,918
NET BOOK VALUE
At 31 March 2025 -
At 31 March 2024 3,306

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continued...

COMMUNITY HOUSING CYMRU

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

16. TANGIBLE FIXED ASSETS

16. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£ £ £
COST
At 1 April 2024 and 31 March 2025 908 37,658 38,566
DEPRECIATION
At 1 April 2024 327 14,454 14,781
Charge for year 116 8,884 9,000
At 31 March 2025 443 23,338 23,781
NET BOOK VALUE
At 31 March 2025 465 14,320 14,785
At 31 March 2024 581 23,204 23,785
17. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£
MARKET VALUE
At 1 April 2024 and 31 March 2025 1
NET BOOK VALUE
At 31 March 2025 1
At 31 March 2024 1
There were no investment assets outside the UK.
The company's investments at the balance sheet date in the share capital of companies include the following:
Community Housing Cymru - Policy and Research Limited
Registered office: 7-8 Park Place, Cardiff, CF10 3DP Company number 06838729
%
Class of share: holding
Ordinary 100
18. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£ £
Trade debtors 788,472 1,000,945
Other debtors 96,333 37,674
884,805 1,038,619

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continued...

COMMUNITY HOUSING CYMRU

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

19. CURRENT ASSET INVESTMENTS

Other
Money Market Account
Repayment date June 2025 - Gross interest 4.2%
20.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Social security and other taxes
Pension creditor
Other creditors
21.
LEASING AGREEMENTS
Minimum lease payments under non-cancellable operating leases fall due as follows:
Within one year
22.
ACCRUALS AND DEFERRED INCOME
Accruals and deferred income
Movement in year
Deferred income at 1 April 2024
Released from previous periods
Resources deferred in the year
Deferred income at 31 March 2025		 2025
£
500,000		 2024
£
-
2025 2024
£ £
500,000 -
2025
£
71,018
30,902
25,363
70,031
197,314
2025
£
-
2025
£
1,675,383		 2024
£
68,287
29,793
20,897
67,609
186,586
2024
£
7,464
2024
£
1,638,403
1,638,403 1,561,471
(1,638,403) (1,561,471)
1,675,383 1,638,403
1,675,383 1,638,403

Page 23

continued...

COMMUNITY HOUSING CYMRU

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

23. MOVEMENT IN FUNDS

At 1.4.24
£
Unrestricted funds
General Fund
214,690
Designated fund
-
214,690
Restricted funds
Primary Fire Authority Scheme
24,319
TOTAL FUNDS
239,009
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General Fund
2,121,341
Restricted funds
Primary Fire Authority Scheme
-
TOTAL FUNDS
2,121,341
Comparatives for movement in funds
Unrestricted funds
General Fund
Restricted funds
Primary Fire Authority Scheme
TOTAL FUNDS		 Net
movement
in funds
£
273,997
-
273,997
(6,510)
267,487
Resources
expended
£
(1,903,344)
(6,510)
(1,909,854)
At 1.4.23
£
76,854
28,257
105,111		 Transfers
between
funds
£
(75,000)
75,000
-
-
-
Gains and
losses
£
56,000
-
56,000
Net
movement
in funds
£
137,836
(3,938)
133,898		 At
31.3.25
£
413,687
75,000
488,687
17,809
506,496
Movement
in funds
£
273,997
(6,510)
267,487
At
31.3.24
£
214,690
24,319
239,009

Page 24

continued...

COMMUNITY HOUSING CYMRU

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

23. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Incoming
Resources
resources
expended
£
£
Unrestricted funds
General Fund
1,974,938
(1,688,102)
Restricted funds
Primary Fire Authority Scheme
-
(3,938)
TOTAL FUNDS
1,974,938
(1,692,040)
A current year 12 months and prior year 12 months combined position is as follows:
Net
movement
At 1.4.23
in funds
£
£
Unrestricted funds
General Fund
76,854
411,833
Designated fund
-
-
76,854
411,833
Restricted funds
Primary Fire Authority Scheme
28,257
(10,448)
TOTAL FUNDS
105,111
401,385		 Gains and
losses
£
(149,000)
-
(149,000)
Transfers
between
funds
£
(75,000)
75,000
-
-
-		 Movement
in funds
£
137,836
(3,938)
133,898
At
31.3.25
£
413,687
75,000
488,687
17,809
506,496

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General Fund
Restricted funds
Primary Fire Authority Scheme
TOTAL FUNDS		 Incoming
resources
£
4,096,279
-
4,096,279		 Resources
expended
£
(3,591,446)
(10,448)
(3,601,894)		 Gains and
losses
£
(93,000)
-
(93,000)		 Movement
in funds
£
411,833
(10,448)
401,385

Purpose of funds

Designated Fund (unrestricted) - Staffing contingency cost for redundancy costs and ad-hoc staffing costs.

Primary Fire Authority Scheme (restricted) - This restricted scheme has been set up to support the housing associations sector fire safety provision thr ough assured advice from a single fire service.

Page 25

continued...

COMMUNITY HOUSING CYMRU

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

24. 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.

The amounts recognised in the Statement of Financial Activities are as follows:

Current service cost
Net interest from net defined benefit
asset/liability
Past service cost
Expenses
Actual return on plan assets		 Defined benefit
pension plans
2025
2024
£
£
-
-
22,000
21,000
-
-
4,000
4,000
26,000
25,000
(134,000)
(74,000)

Changes in the present value of the defined benefit obligation are as follows:

Opening defined benefit obligation
Interest cost
Expenses
Actuarial losses/(gains) from
scheme experiences
Benefits paid
Remeasurements:
Actuarial (gains)/losses from changes in
demographic assumptions
Actuarial (gains)/losses from changes in
financial assumptions		 Defined benefit
pension plans
2025
2024
£
£
2,991,000
2,985,000
144,000
143,000
4,000
4,000
104,000
27,000
(98,000)
(94,000)
-
(38,000)
(416,000)
(36,000)
2,729,000
2,991,000

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continued...

COMMUNITY HOUSING CYMRU

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

24. EMPLOYEE BENEFIT OBLIGATIONS - continued

Changes in the fair value of scheme assets are as follows:

Opening fair value of scheme assets
Interest Income
Actual return on plan assets
Benefits paid
Return on plan assets (excluding interest
income)		 Defined benefit
pension plans
2025
2024
£
£
2,453,000
2,482,000
147,000
139,000
122,000
122,000
(98,000)
(94,000)
(256,000)
(196,000)
2,368,000
2,453,000		 Defined benefit
pension plans
2025
2024
£
£
2,453,000
2,482,000
147,000
139,000
122,000
122,000
(98,000)
(94,000)
(256,000)
(196,000)
2,368,000
2,453,000
2,453,000

The amounts recognised in other recognised gains and losses are as follows:

Actuarial (gains)/losses from changes in
demographic assumptions
Actuarial (gains)/losses from changes in
financial assumptions
Return on plan assets (excluding interest
income)
Actuarial gains/(losses)		 Defined benefit
pension plans
2025
2024
£
£
-
38,000
416,000
36,000
(256,000)
(196,000)
(104,000)
(27,000)
56,000
(149,000)		 Defined benefit
pension plans
2025
2024
£
£
-
38,000
416,000
36,000
(256,000)
(196,000)
(104,000)
(27,000)
56,000
(149,000)
(149,000)

The major categories of scheme assets as a percentage of total scheme assets are as follows:

Global Equity
Fund of Hedge Funds
Property
Real Assets
Private Credit
Credit
Investment Grade Credit
Cash
Secured Income
Liability Driven Investment
Other		 Defined benefit
pension plans
2025
2024
11%
10%
19%
4%
5%
3%
12%
10%
12%
41%
4%
4%
3%
1%
1%
6%
2%
1%
30%
3%
1%
17%
100%
100%		 Defined benefit
pension plans
2025
2024
11%
10%
19%
4%
5%
3%
12%
10%
12%
41%
4%
4%
3%
1%
1%
6%
2%
1%
30%
3%
1%
17%
100%
100%
100%

Principal actuarial assumptions at the Statement of Financial Position date (expressed as weighted averages):

2025 2024
Discount rate 5.87% 4.91%
Inflation (RPI) 3.08% 3.12%
Inflation (CPI) 2.80% 2.79%
Salary Growth 3.80% 3.79%

Page 27

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COMMUNITY HOUSING CYMRU

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

25. 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 2024. As of this date, the employer debt for the charity was £1,106,011 (2024: £1,255,055). The charity currently has no intention of withdrawing from the Plan.

We have been notified by the Trustee of the SHPS Defined benefit pension 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. The Court hearing commenced on 12 February 2025, with the Court’s determination expected no earlier than the summer of 2025. After this, the Trustee and its advisers will consider the outcome and communicate next steps to employers. Depending on the outcome of the hearing, it may be necessary to ask further questions of the Court to clarify certain additional points. 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.

26. 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.

27. ULTIMATE CONTROLLING PARTY

The trustees consider there to be no ultimate controlling party.

28. 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.

Page 28

COMMUNITY HOUSING CYMRU

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025

INCOME AND ENDOWMENTS
Donations and legacies
Gift aid
Other trading activities
P&R Recharge
Investment income
Deposit account interest
Charitable activities
Affiliation fees
Training course fees
Marketing income & conference fees
Affinity contracts
Sundry income
Secondment income
Directors & officers liability insurance
Total incoming resources
EXPENDITURE
Other trading activities
Wages
Charitable activities
Wages
Social security
Pensions
Rates and water
Insurance
Telephone
Printing, postage & stationery
Sundries
Global accounts and levys
Training courses
Marketing & conferences
Public relations & communications
Rent & building insurance
Staff travel
Staff training & recruitment
Translation costs
Publications & subscriptions
Meeting & Council travel costs
Staff charity expenses
Member services
Staff consultancy
Amortisation of computer software
Carried forward		 2025
£
31,900
54,072
51,305
1,638,407
7,570
244,251
16,091
6,792
-
70,953
1,984,064
2,121,341
54,072
912,106
108,426
71,735
85
80,049
8,973
3,161
12,578
12,390
3,000
170,001
12,961
17,023
30,293
28,397
19,842
8,709
8,421
563
126,737
9,292
3,294
1,648,036		 2024
£
3,397
45,816
28,533
1,560,871
8,650
192,734
11,033
14,676
9,393
99,835
1,897,192
1,974,938
45,816
823,731
107,786
57,988
-
108,210
10,562
4,070
10,427
6,630
2,400
146,818
12,678
11,406
29,775
18,721
20,712
9,786
3,499
540
70,642
15,405
3,306
1,475,092

This page does not form part of the statutory financial statements

Page 29

COMMUNITY HOUSING CYMRU

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025

DETAILED STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2025
Charitable activities
Brought forward
Depreciation of fixtures & fittings
Depreciation of computer equipment
Loss on sale of tangible fixed assets
Support costs
Other
IT Costs
Consultancy & Professional fees
Bank charges
Audit fees
Support costs
Interest on pension scheme liabilities
Total resources expended
Net income		 2025
£
1,648,036
128
8,884
-
1,657,048
42,919
112,896
956
15,963
172,734
26,000
1,909,854
211,487		 2024
£
1,475,092
145
13,169
845
1,489,251
43,263
76,431
553
11,726
131,973
25,000
1,692,040
282,898

This page does not form part of the statutory financial statements

Page 30

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:

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Signature 1

Signed by Gerraint Oakley using authentication code Nlgwb0txXjzCo0JWYQ== at IP address 31.94.36.185, on 2025/10/23 17:42:10 Z. Gerraint Oakley's e-mail address is: gerraint.oakley@platformhg.com.