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2022-03-31-accounts

HOUSING TRUST Selby and Distrlct Housing Trust (A company limited by guarantee) Report and Financial Statement8 For the Year Ended 31 March 2022 Charlty Number 1157240 Company Number 08548626

Selby and District Houslng Trust (A company limited by guarantee) Financial 8tatsm•nts For the Year Endad 31 March 2022 Contents Pago Report of the Board Ir)depend8nt auditorfs report to the members 8-11 statemént of Financlal Activities 12 Balance Sheet 13 Notes fomilng part of the financlal statements 1*19 SELBY & DISTRICT HOUSING TRUST 2021122

Solby and District Hou8lng Trust Report of the Board for the year endod 31 March 2022 The Board presents rts directors, report and financial statements, indeperKlently audited, for the year ended 31 March 2022. Reference and Admlnlstrative Informatlon Charty Name.. Selby and District Housing Trust Charrty registration nufflb8r'. 1157240 Company regislration number.. 08548526 Registgred Office and operational address.. The Civic Centre, Doncaster Road. Selby Y08 9FT Board Members Councillor John Maurice Mackman Robert John Chambers Dlrector and Chair (Council appointed Trustee) Director and Vice Ch8iT {Ordinary Trustee) Councillor Slephanle Duckett Mrs Gilllan Ivey Michael Richard Werritt Alan Catterick Vacancy Director (Councll appointed Trustee) Director (Council appointed Trustee) Director (Ordinary Trustee) Direclor (Ordinary Trustee) Secretary and Dlre¢tor Sarah Thompson IN.B. Sarah Thompson resigned as Company Secr8tary on 3111 May 2021. Anna-marie McGlanaghey was appointed Company Secretary in June 2021 until August 2022, after which, Sar8h Thompson r8-assumed the role.) Managing Dlrector Stuart Robinson Flnance Dlrector Rob Parkes Independent Audltors - Saffery Champness LLP. Mltre House, North Park Road, Harrogate HG15RX Bankers - Barclays Bank plc, of Markel Place, Selby, Y08 4NX Solicitors: Bevan Brittan LLP (Kings Orchard 1 Queen Street Bristol 8S2 OHQ) have provided independent advice to the Trust on a case-by-case basis. Trowers & Hamlins LLP {3 Bunhill Row, London, EC1Y 8YZ) have supported the Trust's work on a prospective Sale of Trust properties. SELBY & DISTRICT HOUSING TRUST 2021122

Structure. Governance and Management Governin Documen Selby District Housing Trust ('the Trust,) is a public benefft entity limited by guarantèe, incorporated on 29 May 2013 and registered as a Charity on 29 May 2014. The trust is incorporated in the UK and registered in England and Wales. The company was established under 8 Memorandum of Association vthich established the objects and powers of the charitable company and is govemed under its Articles of Association. In the event of the company being wound up members. and ex-members within twelve months of ceasing to be mèmbers, are required to contribute an amount not exceeding £10. Recrui ointment of The dirèctors of the company ar8 also Charity truste8s for the purposes of Charity law and under the Company's Articles are known as rneM￿rs of the Board. There are seven trustee positions, three Council Trustees, nominated by Selby District Council and four individuals eppointed or elected as Ordinary Trustees. The Board has a vacancy and this was carried throughout 2021122 as there were no applications put forward for the appointment of the 4 Ordinary Trustee. Under the requirements of the Memorandum and Articles of Assoclallon the Councll Trustees shall be appointed by Selby District Council to serve for such period of office as shall confirmed by the Council. One Ordinary Trustee must retire at each annual General Meeting, the longest in off￿e retiring first and the choice between any of equal service being made by drawing lots. Each retlring Ordlnary Trust88 shall be eliglble for feappolntment at the Annual General Meeting but rf they are not reappointed the retiring Ordinary Trustee shall vacate office at the conclusion of the meeting, All members of th8 Board give thelr lime voluntarily and received no benefits from the Charty. Any expenses reclaimed from the Charity are sel out in note 5 to the account8. Trustee Induct'on nd Trainin New Trustees are given an induotion session wilh Trust Offi¢er5. This 8e8sion provides the Trustee with expectations of them in the role as well as governance arrangem8nts and the latest position on current schemes. New Trustees are provided with a welcome pack that includes the Articles of Association and the Charity Commission Guidance entitled 'The Essential Trustee,. Risk Mana The Trust has an organlsational risk register which is reviewed regularty ty the Finance and Govemance Committee. System5 and procedures have been established to mitigate the risks the Charity faces and the risk register is updated on a six-monthly basis. Key risks identifled in the register are around access to revenue funding, health and safety and capacity and resilience of the Trust. All have risk mitigationlcontrols in pla￿. anis tructure The Selby and District Housing Trust has a Board of Trustees of up to seven members who meet quarterly and are responsible for the strategic direction and policy of the Charty. At present the Board has 6 members from a variety of professional backgrounds relevant lo the work of the Charity. The Board is supported by a Managing Directoi, a Financial Director and the Company Secretary. These posts are filled by volur)teers. Selby District Council has SELBY & DISTRIC[ HOUSING TRUST 2021122

providetl funding for the appointment of a part-time Housing Manager who also supports the Board. The Houslng Manager left the organisation in March 2022 and the role remains vacant. The duties are currently being carried out by other members of the management team. The Housing Manager or equivalent requests authorty to deliver elements of the build projects as necessary through regular reports to the Board. Urgent items for which no delegated 8ulhority exists are progressed via electronic mail to Board members as permitted under the Articles of Association. ed Part18 In so far as f( is complementary to the Charty's objects, the Chariiy is guided by both local and national policy. At a local level Selby District Council h8s offered funding and has donated services as well as aliowlng its staff to provide services under thèir volunteer programme at no cost to the Trust. Our Aims and objectlves Pur ses and Aims Our Charity's purposes as set out in the objects contained in the company's memorandum of association are to carry on for th8 benefft of the community lon a not-frjr-profit basis): a. The provision and management of housing, so¢ial housing, hostels and other residential accommodation to P80ple In necessitous circumstances., b. The provision of associated amenities, facilitles and Services for those housed by the Charity or for the r81ief of aged, disabled (whether physically or menlallyl or chronically sick people., and on a basis which 18 associated wlth or Incldental to objectives a and b The provislon of recreation or other leisure facilities in the interest of social welfare,, d. The relief of poverty., 8. The advancement of education, training or retraining, particularly among unemployed people an(1 providing unernployed people with work experience., f. The rnaintenance, improvement or provision of public amenities for the public benefit in the interests of regeneration in areas of social and economic deprivation., g. Any other charitable object that can be carried out from lime to time by a company registered as a provider of social housing with the Regulator. The aims of our Charity 8re to provide housing at 80% of market rent to those meeting the criteria set out in a. or b. above. Ensurin ourw rk delivers our aims During the course of 2020121 the Trust developed a detailed 30 year Finance Plan and has continued to use that in the current flnancial year. We review our governance arrangements each year, and we have referre(I to the guidance contained in the Charity Commission's general guidance on public benefft when we review our aims, objectives and in planning fvture activities. The focus of our work Our maln objectives for the year were to continue to identify, in partnership wlth Selby District Council, property that could be used to enable us to meet our charitable aims. SELBY & DISTRICT HOUSING TRUST 2021122

The Trust's original five year plan was to provide 56 homes which we can offer at 80¢/0 of the prevailing market rent to those who meet our tenant criteria In 2014115 we acquired tsvo separate sites in Tadcaster which provide 5 homes towards this target. During 2017118 work began on a further 2 sites, one in Selby and one in Riccall. Our Riccall scheme offive houses, was handed over in 2018. Also in 2018, we agreed the purchasè of 12 $106 homes in Ulleskelf. our first s106 purchase. Six homes were handed over to us in late 2018. and the remaining six came across in April 2019, all were let immediately. In addition, the Trust took handover of a further 12 new build houses in Selby town in the first half of 2019120. At the end of 2021122 the Trust owned 34 homes. No development opportunities have been Pursued in 2021122 beyond the discusslon stage. As such the Trust has not added to rf(s portfolio over the past year. In 2021, Selby District Council updated its Medium Term Financial Strategy. The updated Stratègy materially changed the Council's approach to its housing development plans as the Council will now support the development of homes In Selby solely through its own means li.e. it will only support dired delivery by the Council ilselQ. As such, Council108ns and grants will no longer be made available to the Charlty for development purposes. In addrtion, although the Trust has been In discussion with a number of developers regarding purchase of further homes, the number of tangible opportunities coming forward over the year has been minimal. This 18 similar to the exparience In the previous financlal year. There are no paid employees of the Trust. Selby District Council has employed a part tlm8 Housing Manager and this ha5 been provided to the Trust as a donated service until the Incumbent's departure in March 2022 (the income and equivalent expenditure are included In thè SOFA as donated services). The Housing Manager's role Is to support the Trust to develop and grow its buslness and, working closety with the Council, ensuring our properties are managed well giving excellent cuslom8r service. The Trust's homes are managed and m8intained by Selby District Council through a Service Level Agreement. Because the Trust18 not developing or growing al this stagè it has not been necessary to flll the vacant Housing Manag8r role. In additi'on, the Trust pay Selby District Councll for 180 hours per annum financial adminislration support. Other managerial and administr*ive services are being provldèd on a volunteer basis by staff with the relevant skills and qualrficalions. Staff are sometimes, bul not 8xclusively employed by Selby District Council. This is estimated to be approximately 266 hours per annum In tot81 with the value equal to £5,300 (this is included in the Accounts as a donated servlcèl (£5,300 also for the previous year ended 3111 March 20211. How our activities dellver public boneflt Our main activities and who we try to help are described in our purposes and aiffts. All our charitable activiti'es focus on the housing market and are undertaken to further our charitable purposes for the public benefit. o used and beneffted from our seNI￿s? At the end of 2021122 the Trust provided 34 affordable homes for rent to the residents of Selby District. Occupation has been excellent with none of the Trust's properties coming void in the year and tenants have been satisfied with the homes provided by the Trust. The main area of charttable activty and the achievements that flowed from our work during 2021122 are related lo the provision of affordable homes for rent in Selby Dtstrict. SEL8Y & DISTRI￿ HOUSING TRUST 2021122

The Trust continued to operate as a Landlord during 2021122. providing 34 homes in the District. The Trust continued to work closely with Selby & District Council to ensure that viable development schemes are brought forward and that a pi￿lIne of land and development opportunities are identified where appropriate. Flnanclal Review With continuing limited resources the Charty had satlsfadory financi81 perfoimance for the period. We successfulty managed the 34 properties with zero void loss - no properties became void in the year with our occupation rate at 1000kn against a target of 97.5%. Our rent arrears remain low at 4.2% {as at February 20221, below our target of 5 %. The Trust made a loss in the financial year of £447k. This is after non-cash costs including impalrment of £425k because thè Trust plans lo sell its assets to Selby Distrlct Council at less than the previous book value. This transaction and pricing has been agreed with the Charty Commission. Th8re was no capital expendlture in the year. Princi al Fundin Source Selby District Council has funded the Trust by offering loans and grants where applicable, to acqulre and develop suitable property for the Trust. The loans are repayable over a period of 30+ years and incur interest charges above the prevalling PublSc Works Loan Board interest rale at the time of signing the loan. Inv Aside from retaining a modest amount in the General Reserve each yéar most of the Charty's funds ar8 to be spent in the short temi so currently there are no funds frjr long term investment. The Board has decided that repaying the loans advanced by Selby Distrlct Council at present takes priorlty over building up reserves to invest externalty. Rese There are no restricted funds at 31" March 2022 (Nil at 31" March 2021). All unrestrlcted funds must be used to further the charitable purpose of the Trust. Reserves as at 31 st March 2021 were £469,255 r8ducing to £22,412 as at 31st March 2022. Con The Financial Statements have bèen prepared on a basi5 Other than going concern. The Twst is in the process of selling ils housing assets to Selby Distriot Council prior to winding up the Trust. The housing assets have been written down to their net realisable value. No othèr acCoun￿ng adjustments have been made in relation to this matter. There are no other foreseen costs of winding up the Trust with the exception of legal and administratrwe costs. The Trust remains reliant on the Council for servlces until the Trust winding up process 15 completed and there are no indications that the Council intends to remove or restrict the acGess to these services in this period. The transaction date for the sale and completion of th8 wind up process have yet to be set. Further details can be found in the accounting poli¢ies and in the Plans for Futuie Periods. Plang for Future Porlods The Trust has undertaken a review of tts activities as a ￿SuIt of the Councll's decision to review its own housing development plans last year. This followed a change in the operating environment due to Covid-19 and the Local Government re-organisation acros5 Norlh Yorkshire. The Trustees have determined that the best outcome for the Trust and its original SELBY & DISTRICT HOUSING TRUST 2021122

aims is to sell the housing assets to Selby District Council and subsequenly wind up the Trust. The Trust is in the process of finalising the sale transaction and will then seek to wind up the Trust. It is anticipated that the sale proceeds will allow tha Trust to meet all of its obligations and to settle all of its liabilities. Statement of trustees, responslbllltles The trustees {who are also directors of S81by & District Housing Trust for the purposes of company law) are responsible for preparing the Trustees, Réport and the financial statéments in accordance with applicable law and United Klngdom Accounting Standards (United Kingdom Generally Accepted Accounting Praclice). Company law requires the trustees to prepare financial statemènts for each financial year which give a true and fair view of the slate of affairs of the charitable company and of the incoming rèsources and application of resources, including the income and expendilure, of the charitable company for that period. In preparing thes8 financlal statements, the trustees are required to.. select 8Ultable accounting policies and then apply them consistentty., observe the methods and principles in the Charities SORP IFRS 102); makè judgements and estimate5 that are reasonable and prudent., state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and prepare the financial slatem8nts on the going concern basis unless it18 inappropriate to presume that the charity will conllnue in business. The trustees are responslble for keeping proper accounting records that disclose wlth reasonable accuracy at any lime the financial position of the charf(able company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding Ihe assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Members of the Bo Members of the Board. who are director5 for the purpose of company law and trustees for th8 purpose of Charrty law. who served during the year and up to the date of this report are set out on page 2, In accordance with company law, as the company's directors, we certfy that." 50 far as we are aware. there is no relevant audit information of which the company's independent auditors are unaware., and as the directors of the company we have taken all the steps that we ought to have taken in order to make oursefves aware of any relevant audit information and to establish that the Chanty's independent auditors are aware of that information. Approved by the Board on 251Th January 2023 and sSgned on ils behalf by.. Councillor John Mackman SEL8Y & DISTRicf HOUSING TRUST 202V22

Indepgndent auditor's report to the members Oplnlon We have audited the financial statements of Selby & District Housing Trust for the year ended 31 March 2022 which comprise the statement of financial activities, the balance sheet and notes to the financial statements, including significant accounting policies. The financial reporting framework that has IRen applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements- give a true and fair view of the charitable company's state of affairs as at 31 MarGh 2022 and of its incoming resources and appllcation of resOU￿e$, including ils income and expenditure, for the year then ended; have been property prepa￿d In accordance with United Kingdom Generally Accepted Accounting Practice,. and have been prepared in accordance with the Companies Act 2006. Basis for oplnlon We conducted our audit in accordance with International Standards on Audtting (UK) {ISAs (UK)) and applicable law. Our responsibilities under those standards are further described In the Audltor's responsibilities for the audit of the financlal statements se¢lion of our report. We are ind8pendent of the charitable company Sn accordance with the ethical requirements that are relevant to our audit of the financlal stalements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other èthical responsibilities In accordance with these requirements. We believe that the audit evid8nce we have obtained is sufficient arKI appropriate to provide a basis for our opinion. Emphasls of matter W8 draw att8ntlon to note 1 of the financial statements which describes how The Board of Selby & Oistrict Housing Trusl have made the declsion to wind up the trust, and as such the Board Members do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial ststements. Accordingly, the financial statements have been prepared on a basis other than going concern as described in nots 1, Our opinion is not modified in respect of thi8 matter. Other Informatlon The trustees are responsibl8 for the other information. The other information comprfses the nfomiation included in the annual report, other than the financial statements and our auditor's report thereon. Our opinion on the financial stalemenls does not cover the other information and, except to the extent otherwise explicitly staled in our report, we do not express any fomi of assurance conclusion thereon. Our responsibility is to read the other Snformation and, in doing so, consider whether the other information is materially inconsistent with the financial staternents or our knowledge obtained in the course of 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 lo a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude thal there 15 a material misstatement of this other information we are required to report that fact. We have nothing to report in this regard. SELBY & DISTRICT HOUSING TRUST 2021122

Opinlons on other rnattefs pre8¢rlbed by the Companlos Act 2006 In our opinion, based on the work undertaken in the course of the audit= the irrformation given in the Report of the Board which includes the Directors, Report for the financial year for which the financial statements are prepared is conslstent with the financial statem8nts.' and the Trustees, Annual Report whlch includes the Directors, Report has been prepared in accordance with applicablè legal requirements. Matters on whlch we are rgqulred to report by èxceptlon 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 idèntifbed material misstatements in the Tru5tees' Annual Report. W8 have nothing to report in respéct of Ihe following matters where the Companies Act 2006 requires u8 to report to you if, in our opinion.. adequate accounting racords have not been kept, or returns adequate for our audlt have not been received from branches nol vlsited by us., or the financial stalements are not in agreement with the accounting records and returns,. or certain disclosures of trustees. remuneration specified by law are not made; or we have not received all the information and explanations we r8quire for our audlt. the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and to take advantage of the small companies exemptlon in preparfng the Report of the Board. Responslbllltle8 of trugtee• As explained more fully in the Trustees, Responslbilities Ststemenl set out on page 7, the trustees (who are also directors of the chaTilable company for the purposes of company law) are responslble for the preparatlon of the financial statements and for being satlsfied that they glve a true and fair view, and for such inlernal control as the trustees determine Is necessary to enable the preparation of financial statements that ar8 free from material mlsstatement, whether due to fraud or error. In preparing the financial 5talernents, the trustees are responsible for assessing the charitable company's abilrty to continue as a going concérn. disclosing, as applicable, matters related to going concern and using the going concem basis of accounling unless the trustees eilher intend to liquidate the charitable company or to cease operations, or have no realistic atternatlve to do so. Auditorf$ respon8lbllltlo8 for the audlt of the financlal gtatsmonts We have been appointed as auditors under the Companies Act 2006 and report in accordance with regulations made under thatAct. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from rnaterial misslatement. whether due lo fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assuran￿, but is not a guarantee that an audit conducted in accordance wilh 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 ststements. Irregularities, including fraud, are instan￿$ of non-compliance wilh laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this SELBY & DISTRICT HOUSING TRUST 2021122

engagement and the extent to which these are capable of detecting irregularities, including fraud are d8tailed below. Identifying and assessing risks related to I￿egular1tIeS'. We assessed the susceptibility of the charrf(able company's financial statements to material misstatement and how fraud might occur, including through discussions with the trustees, discussions within our audit team planning meeting. updating our record of internal controls and ensuring these contro15 operated as intended. Wa evaluated possible incentives and opportunities for fraudulent manipulation of the financial statements. We identrfied laws and regulations that are of S￿nificanCe in the contexl of the charitable company by discussions with trustees and updating our understanding of thè sector in which the charitable company operates. Laws and regulations of direct significance in the context of the charitable company include The Companies Act 2006, and guidance issued by the Charity Commission for England and Wales. Audit response to risks *Jentified'. We considered the extent of compliance with these laws and regulatlons as part of our 8udit prO￿dureS on the related financial statement itèms including a review of financial statement disclosures. We reviewed the charitable company's records of breaches of laws and regulations, minutes of meeting5 and correspondence with relevant authorities to identtfy potential material misstatements arising. We discussed the charitable company's policl8s and procedures for compliance with laws and regulations with members of management responsible for compliance. During the ￿annIng meetlng wlth the 8udrt team, th8 engagement partner drew attenlion to th8 k8y areas which might involve non-compliance with laws and regulations or fraud. We enquired of management whether they were awaie of any instances of non-complianc8 Wlth laws and regulations or knowledge of any actual, suspected or alleged fraud. We addressed the risk of fraud through management override of controls by testing the appropriateness of journal entries and identifying any significant transactions that were unusual or outside the nonnal course of business. We assessed whether judgements made in making accounting estimates gave rise to a possible indlcalion of management bias. Al the completion stage of thè audit, the engagement partner's review Included ensuring Ihat the team had approached their work with appropnate professional scepticism and thus the capacity to Identify non- compliance vlth laws and regulations and fraud. There are inherent limitations in the audit piocedures d8scribed above and the further removed non-compliance with law5 and regulations is from the events 8nd transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from eiror, as fraud may involve dellberate concealment by. for example, forgery or intentional misrepresentations, or through collusion. A further description of our responsibilities is available on the Financial Reporting Council's website at: www.frc.or .uklau itorsres onsibilities. This description forms part of our auditorfs report. Other matters which we are requlred to addre55 In the previous accounting period the directors of the trust took advantage of the audit exemption under s477 of the Companies Act 2006. The trust was eligible for independent examination which was carried out under section 145 of the Charities Act 2011. SELBY & DISTRICT HOUSING TRUST io 202V22

Use of our rèport This report is made solely to the charltable company's members. as a body, in accordance with Chapter 3 of Part 16 ofthe 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 stale to them in an audrtorfs report and for no other purpose. To the fullest extent permitted by law, we do not acc8Pt or assume responslbility to anyone other than the charitable company and the charltable company's members as a body. for our audit work, for this r8port, or for the opinions wè have formed. I,&e-] Q ILe Salty Appleton (Senior Ststutory Auditor) for and on behalf of Saff8ry Champness LLP Chartered Accountants Statutory Audrtors Mttre House North Park Road H8rrogale North Yorkshlre HG1 5RX Dat8.. 27 January 2023 Saffery Champness LLP Is eligible to act as an auditor in terms of section 1212 of the Companies Act 2008 SELBY & DISTRIC[ HOUSING TRUST li 2021122

Selby and Dlstrlct Housing Trust Statement of Financlal Activities lincluding Income & Expenditure Account) for the year ended 31 March 2022 Unr•ththd Fundi 2021122 Funds 20W21 R•th¢t•d Tolal Fundi 2020n1 2010rd1 R•strictsd Funds 2121122 2021n2 Incarfn• RI￿1¢ 1219.8581 1219.8581 R￿1 IrKo 1229. 128,3411 128.3411 th)ntsJ Sonites Nel Prweedsfrom A￿1 thkj (u Sa 8.7551 .7551 1248,1991 1248.199) Totl Rogou 1258.5571 1258.5sn Rwourcqs Exp•nd•d 2T2,215 1.683 28.341 122.215 ProF4ty Mantyern•rt 1.683 Costs 28.341 OtrwR8soum ExFended 252,239 Tot4 Rg¥tyJc8$Exwd•d 870,537 6,108 28.755 670.537 8.108 28.755 252,239 7Cfj,4 705,4 4,040 R•gow 446A43 446.843 crth•rRowl••d Gthwiowi Grts cffjmikthcffjol Fix•J 4,040 N8tIJovement￿ Fur￿¥ 12 446,843 448,843 R•con¢ill￿OTh ol Fundi 1473,2951 Tcth Fun09 Bwjhl Forwatd 149.2551 Funth C•rrled FoF¥Mrd 1473,S51 9,2551 1469.2551 [22.112) 1469,2551 2.4121 Thfr statement of flnanclal actlvities Includes all galns and losses In the year. All incoming resources and resources expended derlve from contlnuing actlvitles. SELBY & DISTRICT HOUSING TRUST 12 2021122

Selby and Dlstrict Housing Trust Balance Sheet as at 31 March 2022 2020nl N¢t• 2021122 Flx•d A8s•ts 3,251,%3 T8ngl& A&8ds 2,769,984 3,251,963 Tolal Fixwj Assets 2,769,964 Curr•nl Aswts 80,811 Debtcrfs 148,697 Cagh at b￿k in hand 186,699 15,427 229,508 Total Current As39ts 3)2,326 CuMTrt Llibllltt•• 12742401 CTrth'tm thjg Within one yoar 1270,686) 144,7321 Nel Cwr8ntAssets1l￿ab1hbe5I 3,207.231 Totsl Assets less Cuttent Liabi1rfg 168,3601 2,701.624 Long T•rni L1•bIl￿••i 12,737,976) Loans 10 12.679,2121 12,737,976) T¢)tsl Lcffj Temi Lithlit 12,679,212) 469,255 N•tAi••ts 22.412 Unr••trfcW Fund• 1109,1391 Rev81￿?￿0n Fund3 1360.1161 G8r*ral 1109.1391 66,727 1469,2551 Total Unreslricted Funds 122,4121 1469.2551 Totsl Funds 122,4121 These accounts are prepared In accordance with the provisions in the Companies Act 2006 relating to the sm811 companies, regime. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. Approved by the Board on 25 January 2023 and signed on its behalf by: Councillor John Mad(man, Chair Rob Parkes, Finance Director SELBY & DISTRICT HOUSING TRUST 13 2021122

Notes fornilng part of the Flnanclal Statements for tho yoar ended 31 March 2022 1. Accounting Pollcles The principal accounting policies are summarised below. The accounting pollcSes have been applied consislently throughout the year. la) Basls of accountlng The financial statèmènts have been prepared under the historical cost convention, as modified by the inclusion of fixed asset investments at market value, and in accordance with the Companies Act 2006 and Accountlng and Reporting by Charities.. Statem8nt of Recommended Practic8 IFRS 102) issued in 2019. The use of the going concern basis of accounting is not appropriate and so the accounts have been prepared on a basis other than going concern. The Trust is in th8 process of selling ils housing assets to Selby District Council prior to winding up the Trust. The housing assets have been written down to their net realisable value. Fixed assets continue to be rècorded as non-curTent assets as their use has not changed. No other accounting adjustments have been madè in relation to this matter. There are no other foreseen costs of winding up the Trust with th8 exception of legal and administrative costs. The Trust remains reliant on Ihg Councll for servlces until the Trust winding up process is ¢ompleted and there are no indications that the Council intends to remove or reslrict the access lo these services in this period. The transactlon date for the sale and Gompletion of the wind up process have yet lo be set. Al Ihe time of selling the properties lo Selby District Council, Ihe intention is to settle the loans to Selby District Council. The contractual terms of the loans, however, have not changed and thèrefore part of the loans continue to be recorded as non- ¢urrent despite the Intention to S8tt18 th8m within 12 months. Ib) Fund accountlng Unrestricted funds are avallable for use at the discretion of the trustees in furtherance ofthe general objectsves of the Charty. Designated funds are unrestricted fvnds earmark8d by the Board for particular purposes. Reslricled funds are subject to restrictions on their expenditure Impo88d by the donor or through the terms of an appeal. (c) Incomlng ro$ourGe$ All incoming resources are included in the statement of financial activities when the Charity is entitled to, and virtually certain to receive, the income and the amount can be quantified with reasonable accuracy. The following policies are applEd to particular categories of income.. Voluntary income is received by way of grants, donations and gifts and is included in fijll in the Stalement of Financial Activities when receivable. Grants, where entitlement is not conditional on the (Jelivery of a specific performance by the Charity, are recognised when the Charty becomes unconditionally entrtled to the granl. Donated services and facilities are included al the value to the Charty where this can be quantified. This includes the services of Senior Management and Company Secretary, The Trusl from time to time may call on the services of other gener81 volunteers and the value of these services is not included in the accounts. Investment income is included when receivable. Incoming resources from grants. where related to performance and specific deliverables, are accounted for as the Charity earns the right to consideration by its performance. SELBY & DISTRicf HOUSING TRUST 14 2021122

(d} Resources expended Expenditure is recognised on an accrual basis as a liabilty is incurred. Expenditure includes VAT which cannot be recovered, and is reported as part of the expenditure to which it relates.. Costs of generating fijnds comprise the costs associated with attracting voluntsry income and the costs of trading for fundraising purposes. Charitable expenditure comprises those costs incurred by the Char-ty in the delivery of its aGtivth'es and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those Costs of an indired nature necessary to 8UPI)ort them. Governan￿ costs include those costs associaled with meeting the constkulional and stalutory requirements of the Charty and InclLKle the independent examination fees and costs linked to the strategic management of the Charity. All costs are allocated between the expenditUf8 categories of the Statement of Flnancial Accounts on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis è.g. estimated usage as set out in Note 3. (el Flxod a8S•t$ Fixed assets are inltially measured at cost, which Includes purchase price and costs attrSbutable to bringing the asset into use. They are then valued at fair value, determined as the amount that would be paid for it in its existing use as social housing, l&ss accumulated deprecialion. Depreciation is provided at rates calculated to write off the Gosl of each asset over its expected uséful life. which in all ca58S 15 estimatefj al 60 years. Deprecialion is Charged from the first year the asset is brought into use. Revaluation of buildings are undertaken at least five yearly bul may be done more often if there is evidence of rapld changes in property values. Impairment reviews are carried out as and when evidence comes to light that that the recoverable amount of a functional fixed asset is below Its net book value due to damage, obsolescenc8. or other relevant factors. If) Flnanclal In8trument• The trust only has financial assets and financial liabllltie8 of a klnd that quallfy as baslc financial instruments. 8asic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exceptlon of the Selby District Loans whlch are subsequently measured at amortised cost Using the eff8Ctive interest method. 2. Total Incomlng Resources Unr•gtrlct•d Re>trlct•d Funds Funds Total 2020121 Unr•strlct•d R•strtet•d Funds Funds Tot*1 2021122 Grant from Selby Distn'ct Council 128,3411 Donated Se￿￿0$ 1219.8581 Rent & Senfloe Chaiges 128,3411 {219,8581 128.7551 1229.8021 128.7551 1229.8021 1248.1991 1248.1991 1258.5571 1258,5571 The donated servi￿$ are for the part-time houslng manager and the valu8 of the donated services for the Managing Director, Finance Diredor and Company Secretary. The related costs can be seen in note 3. There are no unfulfilled condits'ons attached. SELBY & DISTRICT HOUSING TRUST 15 2021122

  1. Total Resources Expended Basis of othér Charltable Governance Allocatlon Resour￿5 Activiti•s Totsl 2021122 Costs directly allocated to actlviti•s Trust Adminislralion Expense6 Direct Propety Development Direct Pfoperty Management DiTect 18.089 127,981 524.467 6,108 24.197 127.981 553,222 28,755 28,755 670.537 6,108 705,400 Basis of Othér Charltable Governan¢• Allocatlon R•sourc•s Activities Totsl 2020121 Costs dlrectly allocated to actlvltles Trust Administration Expenses Direct Property Development Dlrect Property Management Di￿t 11,776 119,723 ,716 1,683 13,459 119,723 119,057 28.341 222.215 1.683 252.239 Other resources referg to the donated services of the Houslng Manager, the Managlng Director, Finance Director and Company Secretary.
  2. Staff Costs and Numbern The Trust employs no staff directly. The Trust was provided with a part-timè Housing Manager by Selby District Council ISDC). In addition. the Trust pays SDC for financial admin support. Tho Trust's properties are managed by SDC through a service level agreement. Other functions, e.g. Managerial Servic8s, are provlded by volunteers.
  3. Trustaa Remunoratlon No members of the Board received any remuneratlon during the y8ar. No travel costs were reimbursed during 2o21-2212o2￿21- Nil) No trusteè or other person re18ted to the Charity had any personal interest in any contract or transaction entered Into by the Ch8rity durlng the year (2020-21 Nil).

  4. Taxatlon As a Charty, Selby and District Houslng Tnjst is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or s256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charllable objects. No tax charges have arisen In the Charity. SELBY & DISTRICT HOUSING TRUST 16 202V22

  5. Tanglble Flxed Assets Freehold Leasehold A55ets Land & Land & under Bulldlnqs Bulldlngs Construction Totsl Cost or Valuatlon At 1 April 2021 Additions Transfers Revaluatlon Ir￿rease fecognlsed In Revaluatlon R8serye Al 31 March 2022 3,369.807 239.220 3,609,027 3,369,807 239.220 3,609,027 Ac¢umulBt•d Depreclatlon At 1 April 2021 Charge for the Year Impawment Write out Acc Dep'n on Revaluation 1348,5201 152,7071 1425,¢)001 18.544) 14.272) 1357,0641 156,9791 1425,CK)01 Al 31 March 2022 -1826,227).........{12,8161.. ..(839,0431 N•t Book Valu• Al 31 March 2021 At 31 March 2022 3.021.287 2,543,580 230,878 226.404 3,251.963 2.769,984 An independent. professional valuation uslng the Existing Use Value- Social Housing methodology was last completed on all properties in July 2019, and it was calculated as at 31 st March 2019. An impaimient of £425k was charged bècause the Trust plans to sell its assets to Selby District Council at less than the previou5 book value. This transactlon and pricing has been agreed with the Charrty Commission.

  6. Current Assgts 2020r21 2021122 Debtor 72.560 Selby Dislrfcl Council 8,231 Prepaymènts and accrued income 148.697 Cash at bank and in hand 7,788 15,427 229,508 Total 202.326

  7. Credltors: Amounts Falllng Due wlthln One Year 2020121 2021122 Creditor 1188,001) Selby District Council 155,241) Loans (Selby District Council) (30,998) Other Creditors (193.754) (57,526) (19,407) (274,240) Totsl (270,686) SELBY & DISTRICTHOUSING TRUST 17 202V22

  8. Creditors: Amounts Falllng Due after more than One Year 2021r Crgdhr {2,737,976) Loons 12.879.212) 12.737.978) Totsl 12,679,212) The fixed assets are primarily being funded by loans from Selby District Councll. Existing loans are repayable over 30 years. All of thè loans are secured 8galnst the title of the properties, whiGh they wer8 used to fund.

  9. Analysls of Net Assets ￿tween Funds Gen•ral O•slgnot•d R•strlct•d 31 March Funds Fund• Funds 2021122 Tangl￿• Flxed As8et8 Current Assets Current Liabilitles Long-Term LiabilitlO8 2.789,984 202,326 1270,6861 12,679,212) 2.789,984 202,328 1270.6861 12,679,212) Nel A8se16 at 31 Morch 2022 22.412 22,412 G•n•ral O•slgn#l•d R•*trlct•d 31 March Funds Funds Pund• 2020121 T8n9lble Fixed Ass818 Current Assets CuTr¢nt Llabililles Long-Term Liabilities Nel Assets al 31 Mareh 2021 3.251,963 229,508 1274,2401 12.737,9761 469.255 3.251,963 229,508 1274,2401 12,737,976) 469,255

  10. Movements In Funds 1 Aprll 2021 In¢omlng Outgolng Tr4nsf•rs R•sourc•s Resources 31 March 2022 Unrèstrlct•d Funds Revaluation Funds General Fund 1109.1391 1360.1161 {258.557) 109.139 596.261 122,4121 Tolal Unrestricted Funds ..(469,255J.... .L258:557)_- .{22,4121. Total Funds 1469.2551 {258.557) 705.400 {22.4121 For fijrther details of the revaluation see note 7. SELBY & DISTRICT HOUSING TRUST 18 2021122

  11. Remuneratlon of the Audltors The remuneration of £11 k related solely to the external audit of these financial ststements wtth no additional work undertaken.

  12. Related Party Transactions Selby District Council ISDC) nominates three of the seven Trustees positions of the Trust. It provides funding and has donated services at no cost. It also provides paid-for servic8s under a service level agreement. Related Party transactions wlth Selby District Council were as follows: Transactions wlth SDC 2020121 2021122 Income Grants Donated Servlces Total Income {28.2631 128,7551 {26.2831 128,7551 Expenditure Trust Administration expense8 Propety Development Propety Management Total expendttur• 7,115 4,807 119.723 127,981 49,632 22,700 176,470 155,288 Amount recelvab18 from SDC at 31 March Amount payable to SDC at 31 March 72,580 179,111 12,981,218112,930,4921 SELBY & DISTRI￿ HOUSING TRUST 19 202V22