Charity Number. 1133321
Company Nwnbef.. 06972673
KEELPAAN HOMES LIAITED
(a c(ynp8ny limited by ￿•ranie8 and Th)1 having Sha￿ capilal
Firkincaal Statwnents
for ts year endeil 31 March 2022
111,
•ABDKQ75kl'
29ffj9r2022
COMPANIES HCLISE
A16

Keelman Homes Limit•d
(a ¢ompany limited by gu¥ant•• and not havir4 a sharn capital)
Strat•gic R•port
For the year ended 31 March 2022
Page
Strategic Report
Statement of Trustees
14
Independent audittys rewt
15-18
Stslement of Conprehensive Irwne
Balance Sheet
20
Staternent in charoes in reserves
21
Slalement d Cash fl¢)WS
22
Notes to FIr￿r￿1￿ Statements
23-33

Keelman Homes Limited
{• company limited by guaranto0 and not IwviNJ a sharo capital)
Strat8gi¢ Report
For th• year eThl•d 31 Mar¢h 2022
Report of the Board
The Board present tsr report and financial slatementsfor the period ended 31 Marth 2022.
Princlpal activitiès
The prini?pal ad.vity of the Company is d￿e10￿)ent ol affOrda￿e Pwgng and landloryl respongbillties as
a regiStereL1 piovidef for affofdable housin9. The Ccrfnpany contsacts with deltvwy partners to increase Ihe
levels of affordable ho￿￿￿ wlhin the Gateshead has into a managanenl agreement with
Gateshead Coun¢il lo deliver housir#J managwnent servios lo Kedman H￿¢5 ￿0portieS lolloNng their
practi¢* COM￿￿￿"0n.
Al 31 hA8rch 2022 there We￿ 188 rwi build promies iTrJuded in the portfc4io.
Al 31 Mar¢h 2022 there Mere 120 properb.es acw.red as part of the Empty Homes Pur¢haw and
Repair PILY￿rnme induded in the p¢yfft￿i0.
At 31 March 2022 Ke4man Hc¥nes were managirKJ 116 woperties on behalf of Thirteert Housing
Group.
A summary ol a¢bvty and st(Kk nthibers are idenlTrfied in ￿ table
Ye•r end FY20121
Additions Yeai end FY21122
(actual
in yoar
Ixtual)
Y•ar end FY22123
{forocastl
Kwlman Horn•s own•d properties
New Homes
affordable rent
New Homes (shared,
ownership)
New Homes.{rent to
buy)
New Build total.
159.
160
160
11
24
24
176
12
New,Build'Empty
Homes Purchase
and',Repair.
', EHPaR:total
106
14
120
120
14
120
120
Thirtee
HousingF
116
116
manaqed
308

Keelman Honws Limited
la c¢>mpany limite4J by guarante¢ ¥md haviry a shar• capital)
Strategic Report
For the y•ar ended 31 March 2022
Now build activi
in FY 21122
81each Green (safes nan￿ 'Huh View)
Keelman Homes are in conlracl Kee￿￿0a1 Hunes to purchase 27 rw build ¢h￿IlIng$ on Ihe fomer
Bleach Gr*n gte loeated in ￿aYdC￿￿0￿TYne. A loan Gateshead Cwil and Hunes England grant
fvnding w85 5e(xJre(1 for the xheme.
In FY21122 12 properties We￿ pra¢D¢ally tsjnpleied handed over to Kedman Homes. Trys marked
Coml￿eti￿) of the new build prcsramme.
During the course of the devdoFrfnent. variatiorts made to ihe mix of ter¥Jres.' the find mix across the
development includes 12 affordable rent prwbe& 11 thared ownership arld 4 rent lo buys. NJI shwed
ownership properties were successfully levsold undef a thared ovmerthip lease.
The final accounl (less retention) was 5etUed fcf the sthrne in Mar¢h 2022.
Form
r New Buld D￿et
Kibblewrth- 94 ¢tsellings181 affordable rent. 13 shared ffftrship)
Runhead E5tate- 9 dw￿l1r1JS laffordable rent)
Heddon View~ 6 dwellirKJs laffordable renll
Strathmore Road - 2 ¢j￿tIllros (affordable rent)
Nugent Row- 6 d￿￿lIngS laffOrda￿e fent)
Dunn Court- 6 ￿llingS (affordable rent)
Lonnen- 14 Ltsellings laff¢xdable rent)
West Park- 17 tJwellirKJs laffcydatye renll
Marion Court- 1 dwdling (affordable rent)
Lyndhurst {sales r*ame Valley bfjeWI - 6 th*ellir¥Js (affC￿tsble rent)
ments
Em
Empty Homes Purchase and Repar Prcwmtr
Prior to FY 21122 106 propwb'es had been acquired refurbithd with the use of various Homes EnglaThJ
grant funding programme5 for Empty Homes. In FY21122 an addibonal 14 pr¢¥)erbes were practs"¢aly wnpleted
and handed over to Keelman Fknmes.
T￿S conduded the empty hrynes prograrnme and the total nLwnber of SOAHP 201&21 empty proFerties
brought back into use by Keelrnan Hcmes is 74.
In total auoss all empty hc*mes prtsJrammes 120 properties have been brwJhl bad( in lo use.
In additi￿ lo the devdwent of new affc(da￿e housing. Kee1rn￿ Homes had a contractual arrangement with
another regste￿d provider lThirteen HoJsing Group). to rnar￿ 116 of th&r properbes el) their behalf.

Keelman Homes LlnNted
la company limited by gu4r•ntse not haviThJ a share ¢apilal)
Strategic Report
For the year &nd•d 31 March 2022
The Contract end dale was 31 March 2022 and at that time Tlirteen HcyJsng Group made a strategic decision to
lake back rnanagemenl of Ih&r properb"e5. Kedman H(mes ¢eased manag￿¢fit of Thirteen Plousing
prOpe￿.e$ on 31 Mwch 2022.
Corporate governan¢e
The Cornpany agrees lo the k>fiwF4es ¢A ￿ NHF CodE of G(wemance relabve lo an organisation of its size
and structure.
The Keelman Homes Board ag￿e to ccdes of conduct *thich are in line Voith the Charity Ccmmissons 'Guide to
the Essential Trustee. ICC3) and the Company has a Rith PAanagement Pc4iry in Flace *thich underpins its key
de¢igons.
The Company has a main Board of 8 Truslees is gjitable for all current activity.
The 8oard Members who are Directors for the purpose of comparby law and Trustees for the purpose of diarity
18w, who held office at the date of approval of this Board reskn confirm thaL so far as they are each aware,
there is no r￿￿ant audit infonnation ￿ *thich the Ccwnpanys auditor is unaware, an¢J each Board Member has
taken all the steps that he or she ought to have tsken as a 8oar¢J Member to make himself or herself aware of
any relevant audit information and to establish that the Ccrfnpa￿s auditix Is aware of th* irformation.
In line wth the statutry requiranents for a limited ccffipw. a copy of these 8c(¥xJnts 7MlI t¢ filed
Ctsnpanies House.
Structurn. Governane• and Managem•nt
Gov•rn•ng document
Keelrnan Homes is a Cttarita￿e ccThpany limi1￿ by guarantee.. il ¥YdS iwporaled as a private company on 25
July 2009 and received charita￿e status on 16 December 2C()g. The orgarM5ation was establi￿￿4 under a
Memorandum of Assouation vthich established the c*** p(hvers of the ccfflpany and is governed under
the Arbdes of AsS￿latiOn.
During the 2014115 finanaal year Ihefe was a sgnrficant change in the membership ol Keelman Homes wilh
The Gateshead Hougng Company re99nirg and the rAArrent iruslees of Kedman Home5 being appointed 8$
members. The ownership of Kedman HC￿e5 changed to bwrvJ owned by the Board of Tftjstees of Keelman
Homes, rather Ih8n being owned by The Gateshead Hou￿ng Cornpany. As a gjbsidiary of The Gateshead
Housing Company, Kedman H¢ynes *dS preduded Ircrn awtwng for funding Homes England's (HEI
¥ff<xdable homes guarantee programme.
Changing ihe memberthip cl Keelman Homes all¢Th￿d it access lo nvw potential fuTraing resources frryn HE
and the private sector. and wtt) this there is the pol*ttial to in¢yease it* amount d new affcrfdable homes the
Company can ddiver.
In the event ol the Charity bang dissolved, evuy m&nber must pay up to £10 tchvards the o)st of dissdulion
and the liabilities incurred by the Charity.
Recruitment and •pp¢intm¢n¢ of Tru$tees
The Trustees as tharity Iru5tees ¢ontToI ihe C(mpany and its prokwty and funds antj are known as the Board.
The Trustees shall consist of at least six and not more Ihan aght individuals, compriyng one indwidu31
nominated by ihe Managing Agent tn accorda￿ with artide 11.3.2 Ithe Managing Agent Trustee) and seven
individuals appointed or elecled in aCC(￿dan￿ artide 11.3.3 Ilhe Ordinary Trustees}
All Trustees appointed in accordance with 11.3.2 to 11.3.3 V+ill be apptynled land where applicable re-
appoinledl in accordance with an agreed prccess rdating to the recruitsnenl sele¢b"on of Trustees sel by the
Truslees from lime lo b"me. In setting the pdicy, Ihe Trustees shall endeavour to ensure that prospective
candidates undergo a due selectson and awssmenl p(rKess to establish their sjitability and that the Trustees
¢ollecbvely posses5 the range of ski115. ccffnpelencies, and experience that they might require.

Keelman Homes Limited
{a company limit￿ by guarantee not ha¥lThJ a sharn capital)
Str•tegi¢ Rèport
For year ended 31 Mar¢h 2022
The Managing Ageni Trustee shall be appoinled by Ihe Managing Agent in accor¢Jance Mth the policy set by the
Tnjstees under artide 11.3.2. A written ￿tr"¢e delrvwed by the Ch'ef ExeoJbve lor such other authmsed
individuall of the Managing to the Secretary of Keelman Hunes shall be condugve as to who has been
appointed as a Managing Agent Trustee. The Mana9irYJ Agent may remrNe ar¥J replace the Managing A9￿1
Trustee at any tirne provided vrritten noth.ce is given lo ihe Secfetary.
The Charity's focuses on the build d new hcrfne5 aThJ the subsequent management of these homes once
they have bw) lel. Thefef(xe Trustees have been sought ¥Mth the appropriate skill set5. The Managing Agent
Trustee has skills in relation to the management of gxial h(xA%ng and performarte management: we have also
ensured that the Ordinary Trustees hav* a good mix of skills induding delivery, finance management
and tenant invdv￿ne￿l.
Board suc¢esgon planning will be LTh1wtaken to ensLffe that four of the existir#J trustees, were all
appointed in Ihe same year. do noi all step dovm Ihe Board at the same time after serving the maximun 6
years of office.
lThluction arKI training ol Twstees
Once the Tru51ees have been apwnted. thty *e irNit8d lo meel with the Cc¥npany Secretary to familiarise
themselves with the work of the Charity. Ihe G￿text in which it operates and the role of the Trustee. TW are
also provided wth the Memorandum aThJ Artides of Asscclation for Ihe Charity. 8$ well as tt)e CL%Je of Conduct
for the Trustees and Probity Policy. TnJ*ees are alg) ccffjtinually beiThJ offered the oppc￿lunIty to urKlertake
IraiThng that they feel is r*cessary to their role&
Prob•ty Policy
A Probity Poli¢y is in and is based cyi National ￿￿￿'n9 Federation guidance.
There ￿tre no ggnrficanl breaches reported durirYJ the year in rdatWi lo prots"ty.
Code of Govarnar￿•
GOVerna￿e arrangements are O￿tin￿OuSlY withved lo enwre the Twls of the organisation are being met
effe¢ts"vely and in February 2022 a setl-assessmenl against the revised NHF 2020 Code of G0Veman￿ was
conducted., the assessment sho%%ed that Keelman H(xnes wefe compliant for the most part but that there were
few areas whith would improve ccffnpany goveman¢e.' bdtr•V Ihe a￿a$ suggested for improvement are listed
and tt)e subsequent acb.ons taken lo ￿Y V•ith Ihe revisej cule..
1. Company StandiThJ OrdefS- Keelman H(￿eS does not have a dear set of Trustee Governance
Instructions kno1￿ as 'standing ￿derS.: it is propwd these are devd¢)ped and imF4wnenled in
FY22123
2. ReqU1￿ment for a new 5 year B￿sinesS Plan- the r#Jrrent busness rAan was relair*d fr(Jn 2017-2021..
an updated ￿an is to be tsdoped for ye8r$ 2022-2027.
3. Keelm8n H(Mnes Ltd th"d nol have an eX￿Utive tifector actiThJ as the operational Lead- It is proposed
that a Managiry Direct¢N is apwinte(110 ￿ ct*npany in FY22123.
4. A review of the Boartj Apprwsal prrxess is required- it is proposed that a review ￿11 take place in
FY22123
5. In the Memryandum aThJ Artides of AswK"atiM a Board m•nber tenn of office vras 9 consecutr've years
13 terms); this should be amended wth the Intenti￿ to allow each membw to serve only 6 wnsecutive
years12 terms) of office, with the opb.on to seNe 3 tefflis C￿lY by exception - In March 2022 the Articles
were amended to reflecl this recrynmendab.on and filed to Companies House. It is proposed that before
the current servin9 trustees re¥h th&r 6th AGM. a trustee gxces&on plan is devdcyed.

K¢elman Homes Limit
(a Company lirnited by guarantsfr •KI not havin9 a share capilal)
Strateglc Report
For the year endad 31 March 2022
6. There is a recommendation Ihat the extemal auditors have access to the Board cl Trustees wlhoul
executives present- it is proposed that for Ihe FY21122 Audit findin9s tr* Auditors will hav8 the
portunity to rneet Non*xecutwe tl"rectors without executNes present.
complian￿ with the Rogulatory Fram•worlt
There were no ￿ul3￿ interventions dLrring the year. arKI we conts'lx￿ lo operate wthin the standards set by
our Regulators.
Oryanis*ional stwc¢yre
Keelm8n Homes has a Board rnade up cl 8 Trustees who meet quart￿lY and are respongble fLY all ¢Je¢isJons
taken by the Company. Keelman H￿neS has a managernenl agreemenl with Gateshead Council to manage its
properties once built and leL Galethead Council. therefore. has resFKJnsibility for Ihe day-lTrday maftagement of
the operats.ons bwng LThlertaken by Kedman H(xnes.
The original tem of the management agreernent beMEen Gateshead C(yJnol and Kedman H(Mnes for ddivery
of housing management seryice5 is frc*n 1 April 2021 10 31 March 2022. wlh an opts.on to extend for ar¢other
one ye8r". this option was exerased in February 2022 and the current end date on the contract is 31 March
2023. The Counul also Fwovide services under a Servic* Levd Agreemenl lo Keelman Hcrfnes which provides
Ihe necessary flexi￿lIty to resource it as appropriatdy required.
R¢la¢ed parties
The Charity is guitJe(1 by the charikn.es Act arKI Ccfflpanies Act and is guided by both N8b"onal antl Local poliw.
Gateshead Council acts as a managing agent for Keelman H￿e$ in its daY-t￿daY ¢)peiations.
The Board has C￿￿dered the inlemal contrd.erp4ironmeni of G8tethad Counol and con&ders that the
systems of inlemal c¢xttrol are effecbve aThJ apprc4Jriate.
Rbsk Management
The Board agleed. and Icd(ed to mitigale as appropriate. Ihe f￿¢?￿1￿ key slrategic risk&
Failure to manage the cornpany's finances
Failure to ddiver on r￿¥ build and existing irweslmenl proiecas
Failure lo d￿1v￿ effective asset managemenl
Failure lo effectivdy manage busire5s continL
Failure lo manage effectNe.Cc￿te goveman
Failure to delivw txjgness m&del due to future g￿ernment pcAicy
Impact on rent inccme due lo Unwersal Cre¢Jil and W￿la￿ Refrym
Failure to a￿sS sources of funding
Failure lo athieve and demc￿thte vaue for m
Failure lo maintsin * effec*"ve rdabl￿1mp 7Mlh partners
TGHC ALMO ceasiry or current managem￿t expiriThJ wilhoul ne•¥ agreemenl in place
Failure lo ¢Jeliv8r a strategic for￿rd plan
The risks are r￿leWed quarterfy in accordance with its risk management pdicy. The risk management pjicy
was revie￿￿ in 2019120 and is reviewed every three yea

Keelman Hoffl￿ Limited
la coryany limited by gu4rantso and not h4vlr•J a sharo capital)
Strat•gle Report
For the year ended 31 Mar¢h 2022
Policies on Internal Control
Keelman Homes has established pdicies and prrxedures to miyitcjr an¢J ￿pha￿se the need fu stron9 intemal
¢￿trOl. These include Finanoal Regulab"ons that require adequate segregab.on of duties.
Rèports to th• Board
Regular repxts to Ihe Board pr￿lide infornation on finarrial arKY operational progress against
objectives. Performance is measured against agreed targets and externally benchmarked.
Btjdgets are set before the be9'nnir¥J of each ffinancial year. Rwts incclne and expenditure
against these budgets are pre5enled to the 8oard on a quarterty bass
varia￿ analygs and ￿ cor￿*Ve a¢b"C￿ is prowsed aThJ discussed at Ihe Board meetings. The
8oard a150 xrutinise Value M¢Nw and efficierw. as well as re¢￿ir@ informati¢J) in ￿SpeCt of loan
and grant covenant comF4iance.
Reports to the Board con&der risk. parlicjjarfy the finanaal impact of ary proposed actions.
Stock Options Appraisal
Housing QLtality Netsyork were appointed In July 2020 to carry out a benclwnafking exercise lo delemine
whether value for money was being achieved through the h￿J￿ng management agreement and sery}￿S
r￿1ve￿ The Gate￿tad Hougng Ccynpany IGateshead Counul's fonner ALMOI. The Condu￿On of the
report listed recommendations induding pr￿Urift9 a second phase of V•r)rk whith would COMp￿￿en9¥elY
review Keelman Hcffies as a ccmpany and charity. Th's would investigate ¢Jptions for Keelman Homes to
improve the htxjgng management of its cu￿nI stock as well as exploring the c(Jmpany opts.0￿ to fu￿11 Board
aspirations to rn￿1 its vison and alms and gr(y•4 as an affordable housng provider in the fLrture.
A second phase of work was concluded by HQN in N¢wember 2020 ar￿ a draft report was presented by HQN to
8oard which set out the potentia Cy￿0nS for Keelman Homes lo explore in more detail during a tTrwrd phase.
The Board appointed Abovo CortsLIt al its meeiing in FetrKuary 2021 to act as lead cOn￿lIaftt on Phase 3 of tt
options apkYal￿ work aNJ begin lookiThJ in detal at Ihe viatility aThJ feasitility crf the fdliA¥ing options.. -
Option 1- No charvje
Opbon 2- Stand-alone. with CwKil finan
opb.on 3- Stand-alone. with new financi
Opbon 4- Merge with another rkx-profit registered provider
Opbon 5- Sdl out to a for-profit registered provider
o 'stand alone. mean the cAThpany ￿rA11￿ exF10￿ recrui1m￿l d its w slaff independently aThJ extdore
the market for alternative housng manawent provison.
Each of these options was consderaj ¢Jevdoped in deta￿ during 2021122. A detsiled assessment of opti¢￿S
and soft Ma￿et lesiing inlomed the Boards decgsion to progress inibally wth option 2. wih a view to
implementing Opti1￿ 3 in the fiiture.
R•cruitment and d?￿lOPment of staff
Tl* quality and iniegrity of *3ff a￿ essen1181 for maintsining intemal contror.
In FY21122 Keelman Homes Boafd made a strategic deu"siTr) to begin recfuitr77ent direct employment of a
Managing Ll'rector and CLYnp8ny Secretary into the crynpany. responsble to the Board, with a view to later
tJirecJy em ￿0￿ng finanaal and operational gJpport into the company. It was antsopated that the Managing
Direclor would come into post during Q1 of 2￿22123_

Keelman Ilomes Linmlod
{a company limiled by guarantee and not having a share capital}
Strateglc Report
For the year ended 31 March 2022
In the interim period and while stall are not directly employed, Keelman Homes has enleied into SeNice Level
Agreements with Gateshead COU￿11 to wpply *all for tFE WFV)rt ol Company Governance. Cornpany FinarKe
and Operational Support.
In partnership bwlh Gateshead C￿ne￿I. Keelman Hcmnes continues to ensure thal Stalf have the necessary
compelences and qualificaknons for their role. through ¢*vdowent. Iraining, appraisal and perfomance
management.
This is all underymnned by related wliLies of both Keelman Homes and Gateshead Council, induding StaNJards
ol Behaviour, Disciplinary Policy, Grievance Policy and Probity Pdicy.
Our olms and oblecllves
PurFoses andaims
Keelfflan Homes, PXlTrx)ses as set in the oiry'ecis eiyitained %Mthin the Company's Memorandum of
Association are..
la) lo provide houses or hostels or other residenti￿ aco)mmc#dation and any assccialed amenities lor persons
in necessitous circumstances upon terms awopriale lo their means:
{b) to provide for aged, (Isabled {%thether physically or mentally), or chronically sick persons in need thereof
houses or hostels or olhei l￿dentIal accommodation armj any as$(￿late(l amenikn'es specially deggned or
adapted to meet the disabilities and requirements of such persons;
Ic) to provide services, a¢fvice or assistar￿e uwn terffls appropriate to Ih*r means to aged. disabled Ivthether
physically or methallyl or chronically sick persons or other persons in necesylous circumstances in need
thereof and providing any associated amenrties specialty designed or adapted to meet the disabilities and
requirements of such persons"
Idl the provigon of recreation Of Other leisure facilities in the interest of x¢i4 wellare wth the 0￿.8cl of
improving the conditions of lrfe lor the residents ol the area ol Ixnetil:
{el the rdiel ol poverty amorost the residents of the area of benefil:
(fl the advancement of education. tr&ning or fetraiNng. part￿larty amorwJ Unem￿oYed people ￿ providing
unemployed people ￿1th work experience"
Ig} Ihe mairtenance. improvement or provision of amenities for the public benefit in the interests of
regeneration in areas of social and eCOn(￿IC depn'vatim in vthich the Charity owns or manages housing stock"
and
{hl such other charttable purkN)ses be￿fIcial lo the publ￿ ¢onsi*ent wlh the objects above as the Trustees
shall in Ihe¢r absolute discretion determine.
Keelman Homes aims lo provide new h(yJsing in Gateshead for social housing letting and to provide housing
management services lor our tenants in this area. Our aims reflect the purposes Keelman Homes was set up lo
deliver.
Ensuring our work dellvers our alm$
Keelman Homes was set up in July 2009 aims and otlectives were set lor that yeai lo enwre that the
foundations were in place lo obtain furKling lor new hwses to be buill within ihe Kibblesworth are4 $0 that we
could meet the oty'ects set within our memorandum of association, to provide homes lor ￿rSOnS in necessitous
circumstances.
Every year we self-assess our achievanerts agatnst the ams aTrJ ot4eclives.

Keelman Homes Limiled
la Mrnpany limited by guaranloo and nol having a share capilal)
Slfategic Report
For the year erKled 31 March 2022
Our obJ'8Ctives for I1￿year
The following objeclives V4Ere achiv4ed for the year ervjed March 2022:
11 newbuild properties were SLKtessfully fflarkeled arKI sold as shar&J ownership
14 properties were successfully acquired. Teturbished arKJ let lor alfordable rent
new build property was successfully aequirgj and lel for aflordable rent
A full valuation of pr￿rtY st￿K was carried out wlh a view to exploring financial options lor the
company as part of the strategic options appraisal.
Ai the February Board meeting il was agreed that pending some finJ due Llligence exerases thal al ihe
meeting in Q1 FY22123 Board V•YJuld seek consensus to decide on the I￿Ure strategic threction ot the
company. The decision would lo seek the best outcome for lenanls best value lor money.
Actions were agreed lo ensure compliance wth the NHF ccrtje ol Governance
Value for money
We are wmmilled io delivering excellent vdue for to our residents and clynmunities, now and as part ol
our longer-term plans. This is one of our CO￿ vdues and is irrtegrated into our ￿sinesS ￿an.
We aim to drive ongoing value lor money by making intomed fina￿al and operationd decisions. This means
spending money wisely and having regard lo three E's:
Economy
Efficiency
Ellecliveness
We are committed to feirNesl¢ng gjrpluses into our oynmunities by buil(*ro more homes.
Finally, we recconise that value for money is imkN)rtant for our oJstc*neTS aThJ continue lo fctus on improviThJ
estates. energy efficiency and safety for our cuslomers.
We have cd¢ulated our VIM Metrics for 2021122 based upjn the HwsirYJ Regulator's VIM Standard for $m￿le1
Flegistered Providers..
Metric
Metric 1 - Reinvestment
Metric 2a- New Su
Metric 2b- New Su
Metric 3 - Geari
Metric 4- EBITDA MRI Inleresl Rale Cover
Metric 5- Headline SOCI￿ Housin
Cost
r Urit
Meliic 6a- O
rail
Mar
SHL
Metric 6b- O
ralin
Mar
Overall
Metric 7- Return on Ca
Result
0.0001Y.
8.44%
o.cKJ%
63.48Y.
2 342.4W/•
£3.941
48.D1%
29.1W.
2.4W
VIM Measure
Efficien
Effeciiveness
Effectiveness
Eflicienc
Efliciertc
Econom
Eflicienc
Efficienc
Etficienc
Social
NOn.SO￿
ROCE

Keelman Homes Limited
la company limited by guarante• al￿ not hwir¥J a shar• capitsl)
Strat8glc R•port
For thè year ond¢d 31 March 2022
. Perfomwnce Indicators
Service Area
Performanct Indicator
Year End
2021122
Yoar EIKI
2020121
Perfornwnce
Traffi¢
Light
Anti￿￿181
Beh8ViOLJr and
Managing
Tenancies
% of ASB cases responded
to & invesb"gab"ons begun_.
in timescale124 hrs- high
priimty. 5 working days-
other (3ses
Perforrnanee
down fr
previous
year
92%
84.6
Asset
Energy Effiaency.. Average
SAP rab.ng d d*ellin95
% of ￿ergenCY124 hrs),
urgent13 days) arKI routine
120 days) repairs
eted wilhin tsmescale
Keelman Hcffjes Renl
collected frun curr￿1
tenanls as a % of rent
C".k tbk .
Perfom)ance
down ffom
previous
ear
Home Repairs
81.93%
Rent
1(X).78%
J(Jfftloiq
exdudi
8ffe8rs blf
Rwt arrears of current
tenants as a % of the renl
roll due
Perfonnance
up fvom
previous
ear
Perfo￿anCe
down from
previous
Rent
5.58%
Rent lost through pjnpty
properties as a % of rent
due
v￿dS
1%
1.75%

Ke•lm•n Hom•s Llmited
la c¢mp4ffty limited by guarantee and not having a share c4ilall
Strategic Report
For the year ended 31 March 2022
Complianc• Pwlom￿nc¢ IrKlirAtors
Perforniance Indicator
Year End
2020121
Ta
1(X)%
Year End
2020121
Perfofman¢•
100%
100°
100%
1009
Traffic
Light
% Domestic Gas Servian
% Fire Fl'sk Assessments- Landlord re
sbili
% Fire Flsk Assessments Reviews- 2021122
% Asbest05 Mana
emenl Surve s
C(xnmurwl
Yo Asbes105 Mana
emenl Surve s
Crynmunal RevieKs
ionella fvsk Assessments General Need5
GN
¥0 Communal Pefioth'c El￿triC Inspection CorKlib.￿ Report
sent
% Dometh"¢ Peri￿1C Electric Inspection Condilw Rewl
resent
within a 10-
ear
% Domestic Periodic Electric Inspects"on Condilion Repcwt
resent
within a 5-
ear
eriod
o Domesb"¢ Stairfifts Serv￿8
NIA
69.4%
40%
Achiw•m•nt and p•rfornianc•
t￿ring the finar￿131 year ended 31 March 2022: _
AS8 - 13 cases in year. 11 acknovAedged and xliongj to within th"meS￿le. 2 cases *ere not actioned
thift timescale bul investigaiions did begin_
Repairs- Of the 819 rep￿rs. 671 were completed witr4'n target V•ith an ¢￿erall perf(￿￿n￿ of 81.93%.
The overall perfc￿ance is made up of the fdlowng pric￿tieS..
Emergen¢y- 231 oynF4eted. 189 in larget= 81.82%.
Urgent- 316 ccrfnF4eted. 250 in larget= 79.11%.
o Routine- 272 oyn ￿eted. 232 in targe1= 85.29%.
Financial revlew
Finanaal Highh'gh15 2021r22
Statèmènt of
Comprehensiv•
Incorne
£000
Balance Sh•el
£000
Cr•dSlors
£000
azz
Anrwal Tumover
Fixed Assets
27.840
Loans
GMBC
£16 322
Operabng Costs
1,671
Cash at Bank
31.03.2022
1.057
Goverrvnent Grants
£11.925
Sur
lus for the Year
29
Retained Eami
10

Keelman Hoffles Liftxted
la company limited by guarantee and not haviffj a share cap.Itall-
Strategic Report
For the year ended 31 March 2022
Payments have been made to our devd0[￿ent pa_rtnw5 based ￿ valuath.ons of the vlcffk cained out.
Gateshead Council (the C¢xJncill manages the properties on behalf of Keelm8n H￿e$ in accorda￿e wth the
managemenl agreement and are paid a rnanagemenl lee for carTring out Ihese services. The CourKil colleci
the rent and any service ¢harges asscoated with the Keelman kknies pl￿ertieS Keelman Homes inv¢ice
the Counal for this amount.
PrSnclpal funding sources
The prinapal funding source5 the bU￿thr¥j of tyjr new IM)mes are Homes EThJlar*J (HEI Grants and loans
frcqn the Counul.
Once properties are built and leL the prinopal funding S(￿￿S are frun the rentsl inc(Yne and seNice charge
I￿Om0 fc¥ these properties.
Re￿￿￿8$ polky
Keelman Hfxnes aims to maintain its general reserve at a minimun d 3% 01 the annual expendilure budge(
however. reserves are rel￿eSted into Ihe bu9ness when required. to yjpport devel¢)pmeni activity.
11

K•elm8n Homos Limited
la company limited by 9uarant•• N>t haviThJ a sh•rn ¢apilall
Strategic Report
For the year end•d 31 Mar¢h 2022
Reference and admlnistrative detail$
Charlty P•f•r•nce 1￿mbar
1133321
Conwany R•l¢ren¢e Number
C6972673
Registsr¢d PYovid•r Nurn￿r
Registered Address
Cr¥ic Centre
Gates1￿ad Regent Centre
Gate*ad
NE8 1JN
Oir•ctors
Jth Adams
Jennifer 81iot
Joseph Gardiner- Resigned 11102r2022
Joanne Giles
ThcThas Graham- Reggned 0110412021
Stuart Green
Thomas SLrtton- Rwned 1110212022
Calum Willis
AlistairW￿le
Sa¢rotary
18outh- fte￿g￿d 0110412021
Management T•am
Day-t(kday management has Lw delegated
Gateshead Council
Auditor
Hair￿$ Watts
17 Queens Lane
Newcastle upon Tyne
NE1 1RN
8ank¢r
The Ctroperative Bank
151 Floor, Norf(Ak Hc
J Grey Street
Newcastle upon T
NE1 1HH
Sollcltor
Galethead Pletropolitw Borough CounrAI
Civic ￿t
Regent Street
Gate**ad
NE8 1HH
12

Keelman Homes Llfflit•d
la company limited by guarant* and not havlng a sh•rn wiltal)
Strategie R•port
Forthe year ended 31 Marett 2022
Fulurn wans
To ensuro Ke•lman Homos ¥*ll wtinue to ryogressapport￿knS to dw¢Fap futher. 8 6¥￿¥00t8usln08s Plaft
2017-21 Wa5d￿er0[thI 8rKI Im￿eMented ty March 2017. Th6 8Ltsiness Plan sets out the ￿MpanY'S u4wall
vlclèn, valuv four m¥bTh 1¥6ori685. wlich supr*yts fhthat Iho fA>Ypny was sel upto do 8nd rong¢ts
our Artl¢les ol A&sodalEw. Our straleglc ¥fe as (01tyfv3'.
1: Blikllno forlho Itktw•- engwiro wlhdeveloptrsto Ixfjld fvrthgr nth¥ affothW8
Mllhin Gat•dwxl. grtl, davdori￿ now INI InnNxfveways al in ￿￿nSe to
pllenges vrittin tho s¢¢ial ?￿noThi¢ ctimalo.
Aim 2.. pl0￿¢be$ 4nd manag1￿ 86sets- lrtkllng; pJrthJ* •npty pw90￿•$ ￿￿thIn
Gat•shoad •nd 6ad¢ into
Alm 3: Pmiory quafjty hty*lwn8ymeTrt Soivl¢¢>4Jn behov ol Dthu reglstsred
Galeshead.
im 4: ImFw•lng fwa- Ind￿*￿ lthiry oryj le•rnlrvJfrom and seeklry ￿p￿)rtUnItIeS
to suwort Wel￿¢[￿j In aur c4¥nrrMrritre
Tho 8u91ngss Plan is MTith•rd by Board ofy o r4ulor bags. to ow 8FyroAch continu8Sto
romalTh approprfat• for our buyness need& The pmgress of these d¥ecOves Is ¢1058ty Iiikeo to ensunw v8lu8
forfflonoy is od¥¢vtyL
Durfr*J 202323. p18n5 are as follit-
PfoJiess the stodt Opti(￿ zpprnfs￿ lo Ideth 8 fe8StIAe lo enyure the ￿￿tIM)fUtU￿0f
K8elm8n Homes
Seek n&w omtuiil¢8". Mgaging *ith d•dows amyor coM￿tantS could b¢r￿rne pertnor4to
8sslst t￿th ithurn dthffji of afl¢nlabl8 htyJ*
0*4el¢p Ord6ry& oftho ¢￿llPartY
Ensure comOarteé vAlh lh• UF*lated NHF Codo olG￿leMan¢¢
L*ino the •8sgt dat8bas¢ ofpraperty el¢mthts *KI thtffin•nd￿ 9lan. d6¥elop a >11>ye•r
Golng Concern
mgn8g•menl 8greemenl ￿t￿ Goieshe8d Coun¢il explfe5 on 31 March 2Q23. Keelman Homes are curTenlly
Iii ¥IbGussion5￿th a I￿1&r0 rmnogement wovid8r lo #ssoss th• lead￿rIty and ¥18tlllty ol ¢hgnglrg
seThlca pr(wlder In lh8 fthwo. Gatashood C￿n￿l ar• •w8r8 th81 KoelmgTr Homes Is revlevlnp118 Options and
0 oxtended I￿1r offer ol $UPKXYt ty Offert￿ a Im? enernlonto Il* currnnt rnanagmrt 8greem8rtto
Iwond Sfjptember 20ZJ.11 Keeknan Hamts req￿lf￿ Ihl< Ay hlr•J•n4w ￿ it s¥ gntidpAl•d that ih•
assessmert ￿￿P￿.0n5 *111 c•ndud•. •A• ¥ contrKtw•ll ¢nloted lrto ahè•d of finanoal year Wd4.
Auditor
PyrJuanl lo &Gllon 467 gl kn Compvd89 Aci ziTh. lkne •¥tht•xls ¢J••mod to be iuppointed aThl Hdne5 Watts
North E*t Audit LLP *lll theielore ¢OMinu• In ¢fflte.
of tho 800￿.
Jas•n Wylie
Chlrof Tnrttee$
Civlc Centre
Reoant Centr8
Gatashe811
NE8 1JN
a(Sth fyèMbr2022

Kedman Homes Llndt•d
la company Ilmited by ￿8¥a￿te￿ And not havlng a sharn capltal)
Sfatemont •itrustus mspon￿bIlhles
For thè year eftded 31 Mar¢h lOZ2
STATEMÉNT OF TRusfEÉSI RESPONSI8IUTIÉS
Th• tnstees (wtho aro also I)Ir￿US ol Keelman Honw Uffthted for Ihg PUfP050s of Iww) are
¢e>p)n2ible for propotirKJ thg Tft%t•)vJ' Annutsl RW I(Includftg th• Str4t•gle Report)1 gnd Ihg finana#l
thlements in a(wrdance apyfi¢abk law aNI Uraled Klrsdffli Accou￿1￿9 siandwds (Unlted Klngdom
Generaly A￿epted ACc(￿n1￿j Prndi¢e>.
CompoDy Iw Ihtr to weparo finondd s10t0ft￿ for each finan<ial yoar. Undar ¢ompny I
tho lrttsiees mwl nol ar•w• the finandal statements unless tw are sealsfied Ilpi a 11¥9 and talT
¥1￿ ¢1 the Jtate of oflalrts of the d￿nIel* o)mpany aNI rf ihe in¢thn9 r¢sourco: and appil¢alon ol
r¢sourc8s. Includlry the Income #nd expenorturè. ol lh8 ¢h8rflatJle ¢rynpary loi that w￿(11. In prepanng these
Ilnancial slalements, Ihe th￿tEe5 afe requlred to:
seled suitat4* ar￿￿tir￿j ￿￿cleS and then them o)nsisienily;
otser¥e Ihe M￿h00S and prfnt¥es In the Charfues SORP 2019 (FRS 102)"
ami valift￿l& thal ate reasonable and wthntr.
pr•par• thè llrBndal *tem8nts on the gdThJ cancem tAsls unless11 Is InapprowW8te to wesume thal.
tho ¢hiritable c¢mpary *9U ¢•rdlnu¢ In opemio
The tr￿1*&¥ oro responsibte for kne￿n9 8dequ8le aCco￿lIng records that Oscljse fh4ih reasonable acura¢y al
any tirno th• firAndal r*xibon of Ihg thwitable ¢(¥Trpwry 8fKI en8bl¢ tI￿rn to ensure tho1 the finandal
¥laloiTwnts ￿￿KAY Ihe C(¥npanies A¢X 20C6. They aro 8tso responlble tw saloguwding the assets of Iho
ehartlatla crynpary aThl hanc• It¥ l*Jrg fft8Sor￿tr￿• slew forlhe ar•J detethon and olh¢r
lllvgularftses.
In ¥0 for as th• lrystees are 8lWrn:
Ihom k no rolwart rftfom•tim of1￿¥th ttw ¢harftatde cunpany's audltor Is Im8w•re: aTh
Iho lrnsleès have l•ken.all st•ps Ihal they 0￿h1 to fv￿e tak¢n to make Ihom59l¥eg 8ware ol oriy
wel•art audlt Inlom*¢Jn eThl to o#8lthh thot Iho a￿￿Or fs ol tmt Inlomwltffi.
Approved ty the boarf
ZOZ2 and tholr IMh8df ty:
Jason Vfyllo
11

Keelman Home$ Limiled
(a company limited by guarant•e and not haviThJ a $harn ¢ap•tal
Audit Report
For the year •nded 31 March 2022
Opinion
We have audited the fin¥Kaal **emerts of Keeknan HL¥nes ￿rnited fthe eh8rit*Je c(Ynpanfl for the year
ended 31 March 2022 vthich comprise the Slalwi)ent of Ccffiprehensve Inccffne. the Balance Shéet,. ￿.-
Stslement of Changes in Rewves. the Cash FI¢xT Statemenl aThJ notes to the finanaal statements, including
significant acc4)unling polirAes. The repo￿"ng frJnev*frt that has bw applied in their preparation is
applicable law aThJ United lthrigdcm A￿ntIng StsrKlards. induth"rKJ Finanoal Reporb"ng Standard 102 The
Finanaal ReportirMJ Standard applicaile in the UK and Rew￿liC d Ireland {Ur¥led Trfjngdc￿ Generally A¢wled
Accounting Practi￿).
In cyjr opinion the finaKial statements..
give a true and far view of the state d the ch￿itable company's affairs as at 31 March 2022, and ol its
incoming resources aThJ appli(￿b"On (rf re9)urces, incltMJiThJ ￿15 inccmme and expenditure. for the year
then ended..
have treen prcyerly Wep8￿ in acxordarre ¥*ith United lfjngd(Nn Generally Awted A¢￿￿ting
practi￿.. and
have been Pfepared in accordance with the req￿r￿￿ts cl Ihe C(¥npanies Act 2006. the Housing and
Regenerats￿ Acl 2(X)8 the Accwnling Ch"rection fu private wistered providers of social housng in
Er4JlarKI 2019.
Basis for opinion
We conducted our audit in acCOrdar￿ ￿1th Intemational Stsr)dards on A￿litir￿4 {UK) IISAS {UKII applicable
law. Our reS￿￿&bilItieS under those starKlards are furlher dexribed In the Auth"IoT'S re&￿SitI"ll￿"eS for the audit
of the finanoal statwnents section of our report. We are independent of the association in accordance the
ethi¢al requirements that are relevant to tyJr audit of the financid statements in the UK, induding the FRC'S
Ethical StaThJard, and we have fLAfilled our other et￿(al rwon5ibilities in accordanee Mth these requiremerxs.
We believe that the audit 6*1de￿e have obtained is ￿ffiCient aThJ apFYowate lo provhle a bas's for
opinion..
Material Un¢•rtainty relating tr* Going Con¢wn
In aurtiting the financia stalwnwlts. VR have conduded thal the difeclors, use of the going concem bags of
accounb.ng in the preparats.on of the fiAan¢ial statements is apprcyiate. Our respC￿sIbIlitieS and the
responsibilib.es of the Iruslees wth respect to g￿ng concem are described in the relevant sections of this ￿pOrt.
We draw 8ttenb.on lo Noie 1.3 In the Finwx?al Slalwnwts ¥*thich indicates material uncertainties around the
ILrture of Keelman Homes Limited.
current management agreement ￿th The Galeshead Cwnol. exrAres in March 2023. We have reviewed
evidence thal The Galeshe•J Council have prry4ided a$Surar￿e. that they ¥*ill continue to work with Keelman
Horne5 atid provide Ihese services as t￿Y require that tru"s arrangwnent will extend p8St Septembv 2023,
if Tequired by Keelman Homes Limited.
These events arbj eon(litions, along with Olher matters ex￿air￿d in Tr)te 1.3. con5ti1Lrte a material ur¢ert•nty
that may Cast ￿9n￿}can1 d¢￿ on the ¢c¥npany's atsh'ty to corrtinue as a g￿n9 concem
15

Keelman Hom•$ Limited
la company limit•d by guaran¢¢• and not h¥viThJ a share capital)
Audit Report
For the yoar end•d 31 Mar¢h 2022
Our 0￿￿On is rK)I M￿lIfied in rewect of Ih"s matter.
Oth*r Inf0M￿tIOTr
The trustees are responsible for the other informa￿n. The other infcrfmab.on c￿￿prIseS the infornation
I￿￿ded in the trustees, Tep(¥l, other than the ftnanaal Statements and our a￿lI0￿S TeFQrt thereon. Our opinion
on the finanaal Stat￿entS does not cover the other inform8bon and. exr4)t lo the ext￿￿ otherv•Yse eX￿1()UY
stsled in our report, we do not express any fomi of assurance COr￿lusion thereon.
Our responsibility is to read the other informabon and, in doiThJ so. consTrder vkneiher the other informab'on is
materially inconsisient wth the financial statements ￿ our knovAedge obtained in the audit or 011￿rWISe appears
lo be materially misstated. If we idenbfy such fflalerial irw195tencie5 or app8￿nI material misststefflents. we
are required to determirE whelher tFEre is a materid mi$5tsternenl in finanual 518temenls themselves. If,
based on the wcrfk ￿ have ￿1￿ined. we c(*￿￿e that Iwe is a material misstatement of this other
infom8lion, we are required to report Ihat fafA.
We hwe nothing to report in ttis regard.
Opinions ¢)n other mattws prescribed by the Coryyanies Act 2006
In our opirrion, b35ed on the w(wk undertaken in the cwrse of thp awliL
the infomiatim gNen in Ihe Iw*ees' repL¥t (li￿OI[￿a￿n9 the direLtors' report) for the financia year for
which finarKia statements are prepared is consstent with the fin￿claI slatements and
the director5, report ha5 t*en prepared in acCOr￿e wAhcale legal reqUIr￿ents.
Matters on whi¢h w¢ are rwired to reptyt by ex¢¢ption
In the light of our kno4Ae11ge and understanding of the charitaile cLYnpany arml its erwironment obtsined in Ihe
c￿￿Se of the audit, h*e not idenffied material mi5*atements in the dire¢tor5' repo
We have nothing to report in rewi of the matters in relaticm lo which ihe Companies Act 20L
fequire us to report to you rf. in our cy1r1￿".
adequate accountsng records have rnt bew kepL or reiums a(Jequate for our aLKlil have not been
re￿iVed Irtrn branches not visited by us. or
fin8n¢ial ststements 8re in agreement %*rylh the acuxjnting records and rettms: or
certain disclosures of th'rect¢ys' remunefats'w speufied by law are not made,.
we have rnt received all the inf0rnati￿ and exF4anatiois we require for our audil [', or
the Irustees were r￿1 entitled lo prepare Ihe fin￿r￿la1 statements in accordance with the sxnall
companies regime aTrJ lake aifvartsge d the smal cornpanies, ex￿)￿0nS in preparing the diredors,
port and frcm the reqLMrwnenl to prepa￿ a Strateg￿ reporl.
In addition. we have nothirs to ￿POrt in respe¢t of the followrtg matter vknere the Hougng and Regeneration
Act 2008 reqL￿￿$ US to report to you rf. in our opir¥on a satisfact(Yy system of contrd ovw transactions has not
been mantsined.
16

Ke•lman Homes Llmlt•d
la ¢ompany limited by guarantee ond not havlng a share cap•tsll
Audlt Report
For th• y•ar ended 31 March 2022
Responsibilities of trustees
As exF4ained m￿e f￿lY in the trustees, responybiliiies 5ts1ement sel out on page 15, the irustees (who are also
the directors of the charita￿e company lor the purposes of cornpany lawl are ￿SpOnsible fof Ihe preparation of
the finanual statements vthich 9ive 8 aTh1 fair view. and for intemal C(￿trOl a5 the trustees determine
is ne￿SSary to enable the preparation of finwKial slalements that are tr￿ frun mat￿181 misstatement, Ythelher
due lo fr8ud ￿ eff(*.
In preparing the fin￿￿.81 statanents. the tr￿￿ee5 are responsible aSse￿ng the charitsble CLvnpany's ability
to con1tnl￿ as a goiryj ceffjcem. disclosing. as applicat4e. matters related lo g￿r￿j corwn and ugng the g￿n9
concem basis of accoJntir¥J unless the trustees eilher intend lo liqilldale ￿ group and parent charitable
company or to cease opeiation& or have rKJ le￿i￿1C aiiemalive bul to do so.
Auditoes responsibilitles ft+r the audit of th• fin•¢1￿ statements
Our obj'ecb'ves are to obtain reawnable assurance a￿1 whether Ihe financial staternents as a are free
frcrn material misstatemenL ￿ether due to fraud or error. aTrJ to issue an audrtorfs report that includes our
opinion. Reasonable aSSUrar￿ is a high levd of assjranee. but is not a guarantee Ihat an audit conducted in
8¢¢ordanee with ISAS IUKI will a￿yS detect a material misstatement vknen il exist5. Missl8tements can arise
friyn fraud or error and are considered material rf. indNidudty or in the aggregate. they could reasonably be
expected to inflU￿￿e economic deosirx)s of users taken on the basts of these financial statements. The
emlent lo which ¢)ur prc¢edwes are capable of deteclir¥J irrewlarib"es. Incl￿￿1￿> fraud is detailed below.
We L*•iained an understarK1ing of the legal and regulatory frame￿)rk applicat4e to both the cL*npary ilself and
the induslry in vthich it operates. We identified areas of laws aThJ regulati¢)ns that could reasonably be expecle¢J
to have a material effect on the fin8noal ststements frrxn c¥Jr sttlor experience and through dixussion with the
directors an¢J other management The most sgThficanl were idenbfied as the C￿panIeS Act 2006. Housing
SORP 2018, UK GAAP IFRS1021 arKI relevant tax legI￿atIOn. We consdered the extent of compliance wth
those laws and regulations as part of our wwlures on the related financia siatements. Our audit procedures
included".
confim)iThJ *Mth the dIreCt￿S and managernenl wtslher they have any krvAedge or gjspiaon of fraud:
obtaining an understandirKJ of the inlemal controls established to miligate risks related to fraud or non
compliance with laws and regulations-
assessing Ihe risk of managernent ￿lefride irKluding i￿n￿"n9 and tesling a sam ofjoumal enlries..
Our audit did not identrfy arry key authl matters fdats.ftg lo Ihe detection of irregularities induding fraud.
However, despite the audit beir¥J planned and cond￿ted in ac￿rdance ￿th ISAS (UK) there remains an
unavoidable risk that material misstatements in the financial stalemenis may be detected to inherent
limitations ol the audit, arKI that by their very nature, any such Insta￿e$ of fraud or irregularity likely invdve
collusion. forgery. intentional misrepresenlalions. Qr the override of intemal contrds.
17

Keelman Flomes Limited
(• ¢ompany limited by gu¥ronta¢ and not having a share cypital)
Audit Report
For the year ernl•d 31 March 2022
A further description of our responsbilities for ￿ audit of the finan¢i81 stat￿ents is Iccated on the Financial
Reporting Council's website at.. *vA¥.frC￿g.u￿aU¢￿IOWe￿￿skn.Iib.e5. This de￿riPts.on 1¢￿75 part of our
auditi*5 repM.
Nic
carr ACA (Senior Statutory Auditor)
For •nd on behalf of H•in¢$ Watts North East Audbt LLP
Chartered Accountant and
Statutory Auditor
17 Queens Lane
Newcaslle upon Tyr
NE1 1RN
18

Keelman Homes Limited
la company limitad by guarants• and not haviThJ a sh•re ￿pItalI
Statem•nt of Compreh•nsl¥• Income
For the year ended 31 March 2022
2022
000
2021
- £000
Notes
Tumover
2.360
Operating o)sts
(1,671 1 19971
Op•rating surplus
Interest payable
1659) 1598)
Stsrplusl(d•fieltl beforè L
187}
Surpluslldofi¢itl for th¢ year
{921
Total compr•h•nsI￿ incom• for th• y•ar
192)
All results derive from continuing adivities.
The above inoNne and expenditure shtythd be read in ¢jJnjur￿1lo￿ wlh the ac£unpanying notes.
awal stalements were apprcFrfed by the tntstee5
2022 signed on th&r behaW by..
Jason W￿le
Joanne Giles
19

K¢¢lm•n Homes Limited
la company limited by guarantee and not ha¥irwJ a share capiL*)
Balance Sh￿t
As at 31 March 2022
2022
£000
2021
£000
Fix•d a$sets
Tangible assets
27.840
26,248
Current assets
Debtors
Cash al 8ntl in hand
348
1,057
367
776
1.405
1,143
Llabllltl•s
Creditors.. amounts falliry ¢kn
within one year
N•t Current •ss¢tsl IllabHiti•s
114
Credit¢vs: arn￿nts faling due after
one year
127.751 ) 126,070)
203
174
Reserves
Retained Earrwros
203
174
The accompanwro notes f(xm part of tt*se finanoal ststements.
The
ial statements approved by Ihe Iruslees on
on their behalf by.
Jason Wyiie
Joanne Giles

K•elfflan Homes Limited
{a company limited by gu•ranto9 and nol having a shar• capitall
Statem•nt of Changes in Resor
As at 31 March 2022
Retalnod Eamlngs
£000
Balance at 1 Awl 2020
266
Surplus for year
{92}
.Balanc• at 31 March 2021
174
Balance at 1 April 2021
174
Surplus for year
Balan￿ at 31 M¥rch 2022
203
The Above"stslemenl of charw rn eqLMty should be l￿d in C￿¥u￿10n wlh the accunpanying notes.
21

Keelman Homes Lln*ted
la company limit•d by guarantee WKI not havlry a shar• capital)
Stat¢ment of Cashflowg
As at 31 March 2022
Notes
2022
2021
£000
Cash flows from operating activities
Net cash (used in)/prnvided by operating aetiviti•s
13
494
229
Cash flows from Investing aclivities
Purchase of tangible fixed assets
Pr¢xeeds from the recapt of goverrnnent granls
{ 2.0621 12.520)
592
Net cash pmvided byinvesting a￿•vitieS
(1.416) 11.928)
Cash flows from fin￿cIng acti¥iti•s
Repayment of b¢yrO￿ngS
Proceeds frun new loan
13471
(308)
2,2
Nèt cash tssed in financing ae¢i¥hi•s
1.203
1.892
Change in ¢8$h •nd ¢ash equiv•lents
281
193
Cash arKI cash equwalents al ttle b89"nrwr¥J cl year
776
583
Cash and cash •qui¥al•nts at the •nd of the ye
1,057
776
Breakdown of cash and cash equivalents
Cash al bank and in hand
1.057
776

Keelman Homes Limitad
la eompany limited by guarant•• and not having a share ￿pitalI
Notes to the financial statements
For the year ended 31 Mar¢h 2022
A¢¢ounting Policigs
1.1 Basis of preparntion
The financial *atefflents have been prepared in a¢Ctyd8r￿ with applic*sle a￿untIng starKlards
i￿luding Finanaal Reporb'ng Standard 102 The Finaftoal Reporb"ng SI3￿￿ard Applicab￿ in the UK and
Republic of I￿lalKj IFRS 1021, the Slalwnent d Recommended Practi￿ for Soaal Hougng Providers
2018, and vAth the Accounting Direcbon for private registered providers of 9xial housbng in England
2019. The finanaal statements are al￿ prepared un¢Jer the ￿quireMentS of ihe Housng and
R4eneration Act 20)8 and the C¢ynpwMes Acl 2Th)6.
The financial stat￿ents are wepared in sterfiTr3. wttich is the fundi¢yHI wrrency. and rourKled to the
nearest £(XXJ.
1.2 Basis of accounting
The financial slalements are prepared under the historical cost eonvenb.on except for donated assets
vthieh are induded 8t fwrvalue upon dOnab.￿l.
1.3 Golng concern
The finanoal Stat￿￿ents have been prepared on"a going concem bags which the trustees consider to be
appr1x￿.ate for the followng rea9)ns. The trustee5 have prepare(I cash flcFW forecasts for a period
covering more than 12 m¢Mihs frryn the d8te d approval of these finarKial siatements which indicate that,
taking account of reasonably possible dovmsdes. ci¥npany will have suffioenl funds. to meet its
liabilities as they fall due Icf that ￿0d.
The management agre￿￿ent f(Y the l*)using StcKk Gateshead Coun￿1 exF*res in Mwth 2023. The
Trustees have obtained assurance fr(Mn the Gateshead Cwncil thal it V*ill continue to work wlh Keelman
Homes and provide these seryices as they reqwre and the o)sl will not exceed the finarK)al envelope set
out in the Keelman H(￿e$ business plan CaShfl￿ forecast& This arrang￿ent will extend past
Septernber 2023 if require(1 by Kedman Fkxne&
Keelrnan H¢ymes have obtained further aSSJrar￿ from Ihe ¢>)unril that the loan agreements VAII be
honoured with no earfy repayment requested. oulsde of the agreed payment xhedule ￿lch is
considered aff¢xdable for Keelman Hunes.
As with any ccffipany plaurvJ relian￿ ¢Jn other entities for finaw81 support. ts trustees acknovledge
that there can be no ¢ert8inty that this ￿pport will continue alihough. at the dale of appr￿al of these
financial statements. they have no reason lo b￿l￿e tr*t it will nol do so. Corksequently, Ihe trustee5s are
confident that the ccfflpany will have sufficieni furKJs to cLx)b"nue to meet ils liabilities as they fall due lor at
least 12 months frijn ￿ dale of appr￿￿￿ of the finarvial staternents and therefore have prepa￿d the
finanryal statements on a going con￿rn basis.
1.4 . Turnover
Tumover represents all rental and seNice tharge incorne recwvat4e. amortisation of govemment grants
and dmated lan¢J, and proceeds frrxn the sale of shared ovmerthip and market sales properties.
Management fee inccrfne is also eamed from the management of propertie5 on behalf of other registered
prtrliders. Sales of propety are recogThsed ukyjn Its CoMr4eti￿ of transfer cl tile.
23

Keelman Homes Limited
(* company limited by gUar￿tee not havlry a shar• capttsll
Not¢$ t¢ the financial ststements
For th• y•ar ended 31 March 2022
1.5 Taxation
The CLynpany 15 consdered to p8ss the lests set CMJI in Paragraph I Sthedule 6 of the Finance Act 2010
and therefore meets ihe defirition of a charilable crynpany for UK corporatiw tsx purposes. Accordingly.
the charity is potentialty exempt frcffi taxation in respect ol inccffle or capitJ gains ￿ceiVed within
Categories covered by Chapter 3 pwt11 of the Cor[￿ratiOn Tax Act 2010 or section 256 of ihe Taxation of
Chargeable Gains Act 1992. to the extent that gJch irmne or pns are applied exd￿VeIY to charitable
N￿ose$.
Sales of Properties M the open market are rK)t exanpl UK tax, therefo￿ (x)rporabon lax has been
charged on this incc¥ne and its subsequent ￿￿fft.
1.6 Housing proporties
Housing prcsjerties are W￿ded at Cost. Freehold land is Tr)t depreu*ed.
1.7 Shared Ownership
The costs of shared c￿￿1￿1P properties are Wit bemeen cuThenl and fixed a55ets on the bass of the
rirsl tranche Forb"on. The first tranche pcwfion is accounted for as a currenl asset and on disposal the first
tranthe sales proceeds are shovm in tumover at the pini of legal c(￿n￿ellon. The remaining dement of
the shared ownership property is accounted for as a fixed asset. The sec¢Jnd and subsequent tranches
sold ('staircasing'l are accounted for in administrab.ve expenditureloperatirrfJ income in the period in which
the disposal occurs being Ihe differen￿ bets￿en the net sales proceeds and the net carrying value.
1.8 0epr¢¢latl¢)n
Freehold properties, other thaTr prcyties under c(￿st￿￿tiOn. are depreciated so as lo write down the
cost, less estimated regdual value, on a siraight line bass. Individual cC￿pOnents are depreciated over
thwr expeded useful lrfe as fdlcM&"
Roof
Heab'ng system5
Electrics
Windows exlemal d¢)ors
Siructure
Bathroom
Kil¢hen
Gas boiler
S) years
40 year5
30 years
25 years
100 year5
30 years
20 years
15yeats
All properties are ￿le￿Ied fcY impaiment when an impaimient trigger is identified and vknen it is deemed
IW have suffered a permanent diminutson in value. ihe fall in value is recognised after taking account of
any related capital grant5.
Costs of improvement wc*ks to eXIstir￿ propertss are ￿lY c8pilalise<l ￿en there is a demonstrable
enhancemenl of ￿ economic ben￿lts of the assel.
Donated land is irtduded 8t its fair value M dmation and the corre5pory*ng grant creditor 15 amorti5ed
over 10) years.

Ke8lman Homes Limit•d
{a company limited by gUar￿fee and not having a shwe ￿Pital)
Notgs to the financial s￿￿ements
For the year ended 31 March 2022
1.9 Stocks
Stocks eomprise I￿sIr￿J proterb.es held ol￿1ght sale. and are stated al the loV￿r of cost and net
realisable vaue. The costs assooated Vlith prtyerties in the course of constructs'on are recognised as
incuTr&J, to Ihe extenl Ihal Ihey are (y)￿0tred io be r&¢Ner8t4e.
1.10 &>cial housing grant other govommont grants
Where grants are received frcth wvermienl agerKies as Homes EThJand and I(￿1 authorities.
which meet the definib.on of goverrffient grants, they are recognised thwe is rea5￿able asswance
that ￿ condib"s)ns atta￿￿d to th￿ be ccmns￿led with and Ihe grant ￿11 be received.
Govemmenl grants are recc¥Jnised u9ng the acxLd m(x1d aThJ are da￿rIed eilhef as a grant relating to
revenue or a granl rdating to asset& Grants relating to revenue are recDgnised in irKryne on a
syslemalic bags over the period in which rdate(1 costs for %thich the grant is intended lo compensate are
recognised. Where a grant is rewatle as ccThpensation for expenses or losses already incurred or for
the purpose of 9ving immediate finanaal support with m future rdated CAJSts. it is recognised as revenue
in the period in which it bec￿eS receivable.
Grants relating lo assets are recognised in incorne on a 5yStemab"G ba%s over the expectsd useful life of
the asset. Grants received for housirKJ prwbes are recognised in inccrfne over the expected useful life
of Ihe hou&ng propety strLKlure. Where a grant is received specifically for componen15 of a hougng
property. the grant is rec(KJnised in Ir￿￿e ￿er the eXp￿ted useful life of the compcwnt.
Recyded Captal Grants Fund
Capitsl gfants can be recyded undw certan C￿￿rt￿. rf a prcyerty is ￿ld. or rf another refevant event
takes place. Recyded grants can be use(1 for projects approved by Homes England and they are
cra<liled to the Re¢yded capb.lal Granl Fund within liakn"litie&
In certain circumstances, s￿h as the sale crf housing properties, Capit￿ grants may be repayable, and. in
that event, is subordinated to the repaymw)t crf oU*r k)ans by agreement ¢he Homes England. It is
accounted for as soon as the liability ari￿5 ￿1th1n creditors= amounts falling due within one year. When
any grant to be recycled or repaid is less than the grant ￿lats"n9 to tr* thsposal, the difference is treated
as abated grant. Abated capital grants are treated as a cunptrtht of ihe ￿rpluS or defiat on disposal
25

Keelrnan Home$ LSmit•d
la company limitad by guarantee and not having a $harn ¢•pit•l)
Notes to the financial staternents
For the year ended 31 MaTch 2022
Turnov•r
2022
£ODO
2021
£000
Rental arKI service charge irKL¥ne reravaile
Managemenl fee inccme
Afflorbsation of goverrffiert gants
Shared [S￿r￿"p Sales Inccffie
1,264
128
115
95
127
703
2,360
1,508
Operat¥ng surplus
Surplus on ordinary actwities is stated after thtrgrWl¢yeditirgi".
2022
£000
2021
£000
Depreoation d ovmed taThJible fix&J assets
Amortisabon of g0vemm￿t grants aThJ donat&J l￿d
Auditorfs femuneratson
audit
- other services relating to t*ali
476
(127)
436
11151
13
12
During the period, Th) Trustees received any bendits in kind12021'. nll arKI no expenses were reimbursed to
any Trust￿&
The Charitable ct*mpany dces not ￿plOY any staff dir•. The rnanagement of thJne5 is urknjertaken by
Gatethead Council for a rnanagem￿t fee as dixlosed in Thjte 10.

Keelman Homes Limiled
(a eompony Ilmited by guarantee and nol havlng a shave capital)
Notes to the Ilnancial statements
For the year ended 31 March 2022
Interest payable
2022
£000
2021
£000
Loans from Gateshead Council
659
Taxation
Total tax expense reccgnised in the inc￿Tre and expendilure account
2021
Current lax
&1. Reconclllallon of the effe¢llve tax rate
£000
SurplusllDefiriti
Total tax expense
586
192)
Surpluslloeliut) before lax
587
187)
Tax using the UK corwration tax rale of IW. {2021: 19%)
Tax exempi revenues
Non-deductible expenses
Total ex￿nse irKluded in the irtcKne slalement

Keetman Homes Limited
(a company limited by guarantee and nol havlry a share ¢apitsl)
Notes to the financlal statements
For Ihe year ended 31 March 2022
Tanglble ftxed assets
Shared Housing
Ownership Properties
Housing in Ihe course
Propertle5 of ¢onstru¢tion Total
£000
£DOD
Rented
Housing
Propertles
Land
Cost
At 1 April 2021
Additions
Translers
23.304
473
1.261
702
613
28.570
2.062
976
11,2611
At 31 Mar¢h 2022
25,038
3.255
1.315
1,024
30,632
Depreclatlon
Ai 1 April 2021
Charge lor year
2.322
470
457
13
Al 31 March 202
2.723
2,792
Net book value
Al 31 March 2022
22.315
1.246
1.024
27,840
At 31 March 2021
21.038
3.255
1.309
26,248
The income, costs and surplusldefiL?t relating to the shared 0vMe￿iP prcyerties amounts to £703k (2021 - £01,
£563k {2021- £01. £140k {2021 - £01, respethivdy.
6.1 T￿gible assets
Number of units under managemenl
2022
2021
Under development al end of Ihe
Renled unils
Shared ownership unrts
10
19
Under managernent al end of the year
Rented units
Shared ownership units
274
24
262
13

K••lman Homes Limited
la ¢ompany limit•d by guarantse nol haviThJ a share ￿Pital) ..
Notes to th• financial statements
For the year ended 31 March 2022
Debtors
2022
£000
120
228
2021
£000
161
Trade deblors
Amounts ON￿1 by rdal8J parties {see note 101
367
Credltors: Amounts falling due within one y•ar
2022
£000
2021
£000
Trade Creditors
Accruals
Loans frcffl Gateshead Counal
kniount owed lo relate<l pa￿"e￿See Mte 101
VAT
Corporalion tax
Re¢yde(I capital grant furKI
Government grants
23
369
767
243
422
12
115
127
1,291
1.147
reditors: Amounts falling due after on¢ year
2022
£000
15.953
11.798
2021
Loans from Gateshead C¢xThil
Govemment grants
14,780
11,290
27,751
26,070
The first tranche of the loan frcffj Gateshead Counol of £4.5m is repayable in equal half yeady inslalments of
£46,717 over S) years frcxn March 2010 and accrues interest at 4.59%.
An additional facility 01 £1.7m was agreed the Counol in Ociober 2014, and is fepayable in ewal half
yeady instalmenls of £17,000 over 50 years from Awl 2015 accrues inlwesl al 4%.
An additional facility of £1.&n was 89reed with ihe Couwl in Awil 2015. arKI is repayable in equal hall yearfy
inslalmenis of £15,(K)O ¢)ver Y) ye8rs from Octotjer 2015 and aCcrl￿5 interest at 4.25%.
An additional faulity of £1.Om vras agreed with Ihe CoLnuI in Ap1￿ 2016. and is ￿paYable in equal hall yearfy
instalmenls of £10.(￿ over 50 years frcrfn October 2016 armj interest al 3.75%.

K¢elm8n Homes Limited
(• ¢ompany limited by gu•r¥ntee and not having a share capital)
Notes to th• finan¢ial $tat•m•t
For the year ended 31 March 2022
An addibonal faality of £0.5m was agreed wilh the Cwwl in April 2017. and is repayable in equal half yearly
instalments of £5.¢J)O over S) years frun October 2017 aTrJ accrues interest at 175%.
An addibonal faulity of £1.8m was agreed ￿th the CO￿￿1 in September 2017, and is ￿paYable in equal half
yearfy instalments of £18,OCQ over years fr(wn March 2018 ar￿ a￿rUe5 inte￿1 at 3.75%.
An additional facility of £0.5m was agreed %b7th the Com(il in Decwnber 2017. aThJ is repayable in equal half
yearfy Inslalments of £5,CQO over So years frcffl Jure 2018 and accrues interest al 3.75%.
An addibonal facility of £0.9m was agreed *ith the C￿￿.1 in May 2018. and is repayable in equal half yearly
instalments of £9,W) over 50 years fr(x)i November 2018 aTrJ accfues interest at 3.68%.
An addilional fa¢ilty of £0.5m agreed *ith the Crmrril in October 2018, is rtpayable in equal half
yeady instalments of £5.CKJO 50 years April 2019 and a￿UeS interest at 3.75%.
An addiDonal fa¢ilty of £0.7m has treen ag￿ed in April 2019, and is repayable in e(pJal h*f ye8rly instslments of
£S.LKQ over 50 years from October 2019 and ae¢rues interest at 3.56%.
An additional farility of £0.7m has been agreed in July 2019, and is repayable in equal ha￿ yearfy inslalments of
£5.CW over 50 years from January 2020 and accrues Interest al 3.3%.
An addits.onal faality of £0.25m ha5 been agreed in March 2020. and is repayable in equal hair yearfy
(nstalmenls of £5.￿0 over 50 years frc¥n Septwnber 3)20 and a¢¢nJes Inte￿$1 al 3.3%.
The first Iranche of the loan, initial ¥￿ue of £4.&n is se￿re¢J. vthi15t the fLMther trarKhes remain unsecured.
Additional loan fxilities agreed *ith the C¢xwxil during the year as follows.
An additional farility of £7m has been agreed rn May 2020, and is repayable in ￿Ual half yearfy instslmenls of
£7,0￿ over 50 years from Novernber 2020 and inleresi al 3.3%.
An additional faality of £4m has been agreed in Augusl 2020. and is ￿payable in equal ha￿ yearfy inslalments
01 £4,000 over 50 years from February 2021 and accrues interest at 3.4%.
An addl￿onal farjlity of £0.25m has been ageed in September 2020. aTrJ is rePaYa￿e in ￿￿al half yearty
instalments of £2.5￿ over 50 years frcrfn Marth 2021 a(xr￿S inieresl at 3.4%.
An additsonal facility of £0.25m ha5 been agreed in t*ember 2020. and is repayable in equal hall yearfy
ins181menls of £2.W ovw 50 years frun June 2021 aThJ accrues inlerest al 3.35%.
An addits.onal facility of £0.6m has been agreed in Marth 2021. and is repayable in equal half yeady instslments
of £6.000 over ￿ years frwi September 2021 and accnjes interesl at 3.35%.
The first tranche loan. initial value of £4.5m is Se￿Ied. 7htiilst the fwther tranches ￿m31n unsecured.
Additional loan faclities ￿ere agreed wrth the Councd during the year as foll￿•¥$..
An addilional facility of £0.5m has been agreed in May 2021, aThJ is repayable in equal hJf yearty instalmenls of
£S.000 over SO years from Wwnber 2021 and ac¢rues interest al 3.3V•.
An additional facilty of £0.35m has been agreed in Septwnber 2021, and 1$ repayable in equal haw yeady
instslments of £3.￿￿1 over 50 years fr(wn March 2022 and accrues interest ai 3.16%.
An additional facility of £0.7rn has been 8greed in N(￿￿nber 2021. 8rn1 is ￿paYable in equal half yearty
instalmenls of £7,CKJO over g) Yea￿ frcxn May 2022 aThJ acuues interest at 3.19%.

Kwlmon Hom•s Limited
(a ¢omp4ny limited by guaranle8 not haviThJ a share Gapit•ll
Noles lo the financlal statements
For the yoar ended 31 March 2022
Govemment grants
A total of £4.832m grant ¥ras received frryn Hcynes EWwKf bel%*en the finanoal years of 2010111 and
2013114 in rdation to the lfj"bbIewc￿ develo5ynent This is released to the accounts over a period of 1
years.
A total of £2.663m grant has been recaved frcffi Hcffies Englar)d befv￿en the fina￿al year5 of 2013114 and
2020121 in relation to the Ernpty H￿￿e5 Purthase and Repair schemes. This is rdeased lo the accounts over a
period of 1￿ years.
A loial of £33.7k grant was received frun the TyrÉ 8rKI Wear Fire and Rescue Serviee in ￿latiOn lo the
installabon CA sprin￿er systems in some of cw new budd dEwelopnenl$. This is release<l to the accounts Gwer a
period of 100 years
A total of £0.345m granl was recetved frc¥n Homes Er￿larKI bel*Een the fin￿()81 year5 of 2015116 and
2016117 in rdation lo the Runhead arrfj Heddon View deve1wn￿l. Th"s is released lo the awjunts over
period of 100 years
A total of £0.318m grant was received from Homes En9land beNbeen Ihe finantial years of 2016117 and
2018118.in rdabon to the West Park d￿￿0pMent. Ths is released to the accounts over a period of 100 years.
A totsl ol £0.778m grant ￿￿$ received frcyn Homes EWaThJ in financaal years of 2019120 and 2020121 in
lab'on to the 81&￿h Green de¥do￿ent is ￿leaSed to the a¢￿Unts over a period of 100 years.
A total of £0.21Om grant was re￿¥&￿ fr￿n Hryne5 Er￿and in finarval year 2020121 in relation to Ihe
Lyndhvrsl development. This is released to the aCc￿nts ￿er a wi¢)J of 100 years.
Indude(J W7￿.n goverrffient grants is •) amount of £2.776.600 relating to donaled land {2021.. £2,8C6,2501
Land with a Val￿ £2.7m was donated to the ccthpany in 2010111 in rdalion to the ￿'bbIeS￿Orth development.
This is released lo ￿ accounts 8 period d 100 years.
Land with a vJue £0.11 &n was d￿lated to the wnpary in 2016117 in rdation to ts Heddon View
develop￿ent. This is released to the accounts over a ￿0d of 100 year5.
Land ¥Mth a value £0.15m VAS donaled to Ihe cL¥npary in 2017118 in relab.on to tre West Park development.
This is rdeased lo the accounts ovw a pwod of years.
31

Keelrnan Homes Limitèd
la company limlt•d by guarantee and haviry a share ¢apital)
Notes to the financial statements
For thè yèar ènded 31 March 2022
10.
Related Partl•s and controlling pwty
The compary ha5 a close *Y)rking fdaticvi#N"p %%ryth GaleFJwd Cwnol due to previously being a gjbsidiary
Pfior to beccrning independent in 2014115. The total expenditure incur￿# wth The Gateshead Ccmjncil during
finanoal year 2021122 was £284.568, and the tolal iwne re￿Ned vras £914,034. The￿ was also ¢redilors
due lo The G8leshead C¢yJncil lowling £767.11X) arKJ a debt￿ amount £227.703 at 31 Mar¢h 2022.
11. A¢¢ountlw estimates and ￿dgements
The preparation of finanoal Stat￿enIS requires the Board to make judgements. e5timale5 and assumptions
that may affect the application of aCt￿Jn￿"n9 pdscies and the reported amounts of a55els and liatiliti'es. a
income and expenses. The estimates and asgxgated assumptions are based on historical experience and
various other factors that are bdieved to be reas¢￿8b1e under the circumsiances. Actual results may differ from
these eskn"mates. The key ￿a$ requiring the use of eth"mates and judg￿entS %thich may sgnificanuy 8ffe¢l the
rinanaal statements are ccffjsidered lo be:
Estimation of the useful lile of •ssets
The board is required to esirmafe the useful ecorKJni¢ lrfe of each C(Xnpon￿t of rts houstng properttes. These .
estimates are b85ed on experierKe of the housng sfcd CLYnpa￿ to wider se¢lor pTr¢ts"ce.
Valuat￿1 ofdonated land
Donated land is valued by quaified 5peualisls wthin Gateshead Cwncil who use their p￿esSional knwledge
and experience to assess the of the laxl.
11 Financial in5trumerts
2022
£000
2021
£000
Ass•ts measured * ¢ost l•M Inwairmont
Trade debtors
118
161
Llabllltles rneasurnd at amortised cost
Loans fmm Gateshead Cwnul
16,322
15.118

K8elman Home5 Limited.
{a company limited by guarantse not havlng a sh•r¢ ¢apltal)
Notes to the financlal statem•nts
For the year ended 31 Mar¢h 2022
13. Cash from op•rnliry activities
2022
£000
2021
£000
1921
Defiul f(* Ihe year
Adjuslmert for.
Dep￿latIOn and amorts"sats"on
Interest payable and &milar charges
Deferred goverrnienl granl
Taxal'on
470
6S9
(127)
436
11151
1,032
832
Deueasellinuease) in trade and other debtors
In¢reasellde¢re85e) in trade and other (yeditors
21
101
(401
Interest paid
Tax paid
16591 15981
(5)
Nel ¢ash from operating aclivllios
229