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2021-03-31-accounts

Page
Board Members,
Executive Officers, Advisors		 and Bankers
Report ofthe Directors
Independent
Auditors'		 Report to the Members ofChartford Housing Limited
Statement ofComprehensive
Income		 15
Statement of Financial Position 16
Statement ofChanges in Reserves 17
Statement ofCash Flows 18
Notes to the Financial Statements 19
Directors/
Management Board Mark Dowson (Chair) John Bell Nicholas Warden
Sarah Benjamin Alan Goodrum Umar Qayoum
Phillip Charlton Mark Bell
Wayne Noteman Clive Greenwood
Senior Management Team: The executive comprise the senior management team ofthe sole
member,
Horton		 Housing Association.
Registered Office: Chartford
House,		 54 Little Horton Lane, Bradford, BDS OBS
Company Registration no: 8662400
Charity Registration no: 1162562
Registered Provider no: 4821
Solicitors: Schofield Sweeney
Church
Bank House
Church
Bank
Bradford
BD14DY
Auditors: Saffery Champness LLP
Mitre House
North
Park Road
Harrogate
HG1 SRX
Bankers: Barclays Bank pic
10K/larket Street
Bradford
BD1 1NR
Development consortium: Accent Group Development Consortium
Charlestown
House
Acorn Park Industrial Estate
Shipley
BD177SW
Development partner: Greenoak
Development		 Consultancy
High Austby
House
Ilkley
LS29 OBJ

Lettable days available from owned property 43,987 (2020: 34,767)
Actual number ofdays let as a /0 oflettable days 930/0 (2020: 95.4/0)

2021 2020
Note f E
Turnover 3,694,835 1,053,270
Operating
expenditure		 (1,243,907) (542,295)
Operating
surplus		 2,450,928 510,975
Interest receivable
Interest and financing costs (196,847) (188,758)
Surplus for the year 13 2,254,081 322,217
Revaluation
surplus		 13 466,978 283,588
Total comprehensive income for the year 2,721,059 605,805
2021 2020
Note E
Tangible fixed assets
Housing properties 8 14,027,854 8,456,375
14,027,854 8,456,375
Current assets
Debtors 9 1,263,824 222,414
Cash and cash equivalents 166,442 365,202
1,430,266 587,616
Creditors: amounts falling due within one year 10 (462,394) (469,324)
Net current assets 967,872 118,292
Total assets less current liabilities 14,995,726 8,574,667
Creditors: amounts falling due after more than one year 11 (10,400,000) (6,700,000)
Total net assets 4,595,726 1,874,667
Capital and reserves
Non-equity
share capital
Revenue
reserves		 13 3,865,790 1,.519,782
Revaluation
reserve		 13 729,936 354,885
Total reserves 4,595,726 1,874,667
Note Share Unrestricted
capital fund Total
Balance at 1April 2019 1,268,862 1,268,862
Year ended 31March 2020
Surplus from statement
ofcomprehensive		 income 605,805 605,805
Balance at31March 2020 1,874,667 1,874,667
Year ended 31March 2021
Surplus from statement
ofcomprehensive		 income 2,721,059 2,721,059
Balance at 31IVlarch 2021 4,595,726 4,595,726
Note 2021 2020
Net cash inflow from operating activities 16 2,226,627 1,008,159
Cash flow from investing activities
Purchase and construction of housing properties 8 (5,928,540) (1,928,039)
(5,928,540) (1,928,039)
Cash flow from financing activities
New Loans 3,700,000 1,200,000
Loan repayments
Interest paid (196,847) (188,758)
3,503,153 1,011,242
Net change
in cash and cash equivalents		 in the period (198,760) 91,362
Cash and cash equlvaIenis at the beginning ofthe period 365,202 273,840
Cash and cash equivalents at the end ofthe period 166,442 365,202
MOVEMENTS
IN NET DEBT
1ApA! Cashfiows 31March
2020 2021
f
Loans due after more than one year 6,700,000 3,700,000 10,400,000
Cash (365,202) 198,760 (166,442)
Net Debt 6,334,798 3,501,240 10,233,558

Kitchen 15years
Bathroom 15years
Boiler 15years
Internal doors 20years
Windows 30years
External doors 30years
Electrica I 30years
Central heating rads and pipework 30years
Roof 40years
Structure 40years

2021 2020
Operating Operating Operating
Opcl'a'ting
Turnover
f		 costs
f		 surplus
E
Turnover		 costs
surplus
f
f
Social housing
lettings		 3,694,835 1,243,907 2,450,928
1,053,270
542,295
510,975
and management
charges
Supported Total Total
Housing 2021 2020
E
Rent receivable
net of
identifiable
service charges		 615,085 615,085 488,690
Service charges receivable
Management
charges		 209,475 209,475 198,880
Government
Grants taken to		 income 2,870,275 2,870,275 365,000
Othe! Income 700
Turnover from social housing lettings 3,694,835 3,694,835 1,053,270
Expenditure
on social		 housing lettings
Management
costs		 419,868 419,868 301,055
Routine
mmaintenance		 199
Depreciation
of housing properties		 R other assets 276,357 276,357 206,771
impairnicni
of housing		 p!Opert!es 54/,682 54/,682 34,270
Operating
expenditure		 on social housing lettings 1,243,907 1,243,907 542,295
Operating
surplus
on social housing		 lettings
2,450,928 2,450,928 510,975
Vo!d losses

2021 2020
No. No.
Managed by Agents (supported housing accommodation): 103
147 103

2021 2021 2020
No. NIo.
Supported
housing		 accommodation:
Self-contained flats 114 87
Houses 33 16
147 103
OPERATING cl IRDI IIc
The operating
surplus		 is arrived at after charging:
2021 2020
f
Depreciation
/ impairment		 ofhousing properties 824,039 241,041
Auditors' remuneration for audit services 4,920 4 7c0
INTEREST PAYABLE AND SIMILAR CHARGES
2020
Interest on group loans 196,847 188,758

Housing Housing
properties properties
held for under
letting construction Total
E f
Cost/Valuation
At 1April 2020 7,564,671 1,320,811 8,885,482
Additions 1,837,229 4,091,311 5,928,540
Transfers 4,802,756 (4,802,756)
Impairment (547,682) (547,682)
Revaluation 105,407 105,407
At 31March 2021 13,762,381 609,366 14,371,747
Depreciation
At 1April 2020 429,107 429,107
Charged
in year		 276,357 276,357
Revaluation (361,571) (361,571)
Ai 31March 2021 343,893 343,893
Depreciated cost
At 31March 2021 13,418,488 609,366 14,027,854
At 31March 2020 7,135,564 1,320,811 8,456,375

9 DEBTORS
2021 2020
f
Government grants receivable 1,066,275 87,500
Prepayments and accrued income 1,035 675
Inter-company account 196,514 134,239
1,263,824 222,414
10 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
Debt (note 12)
Trade creditors 183,782 34,222
Accruals and deferred income 275,755 311,653
Inter-company account 2,857 123,449
462,394 469,324

2020
Debt (note 12) 10,400,000 6,700,000
12 DEBTANALYSIS
2021 2020
Due within one year
Due after more than one year 10,400,000 6,700,000
10,400,000 6,700,000
Debt is repayable
as follows:
Debt within one year
Between one and two years
Between two and five years 10,400,000 6,700,000
After five years
10,400,000 6,700,000
13 RESERVES
General Reserve 2021
E
Opening funds at 1April 2020 1,519,782
Surplus for the financial year 2,254,081
Transfer from Revaluation
Reserve		 91,927
Closing funds at 31March 2021 3,865,790
Revaluation Reserve
Opening balance at 1April 2020 354,885
Revaluation 466,978
Transfer to General Reserve (91,927)
Closing balance at 31March 2021 729,936
2021 2020
f.
Carrying amount offinancial assets measured at amortised cost 1,262,789 221,739
Carrying amount offinancial liabilities measured at amortised cost 10,760,229 6,887,324

penditure
c		 ommitments
are as follows:
2021 2020
f
Capital expenditure
Expenditure contracted for but not provided in the accounts 326,535 317,227

2021 2020
f f
Cash flow from operating
activities
Operating
surplus		 2,450,928 510,975
Depreciation
and impairment
of		 tangible fixed assets 824,039 241,041
Decrease/(increase)
in debtors		 (1,041,410) 2,959
Increase/(decrease)
in creditors		 (6,930) 253,184
Net cash inflow from operating activities 2,226,627 1,008,159

he following
is a summary
of
mpanies:		 the amo unts
recognised
and
rec		 eived
from the o		 ther
group
2021 2020
f. f
Fees charged to HHA
For acting as landlord for properties 53,783 53,518
For use ofone flat as an office 4,897 4,769
Fees charged to HHS
For acting as landlord for properties 126,795 116,593
For use of property
as		 an office 24,000 24,000
Total related
party fee income		 209,475 198,880
Fees from
HHA for management
and housing support services		 130,015 55,199
Fees from
HHA for support services		 128,125 125,000
Ipterost chargod
on loan ror e'cved from		 HLIA 196,847 188,758
Fees from HHS for management services 57,755 52,079
Total related party charges 512,742 421,036
2021 2020
f
Trading Accounts:
Horton
Housing Association		 (2,857) (123,449)
Horion
Housing Support
Ltd		 196,514 134,239
Bradford
BASESocial Enterprise		 Company Ltd
Loans from Horton
Housing Association		 (10,400,000) (6,700,000)

Page
Board Members,
Executive Officers, Advisors		 and Bankers
Report ofthe Directors
Independent
Auditors'
Report to the Members		 ofChartford Housing Limited
Statement ofComprehensive
Income		 15
Statement of Financial
Position
Statement ofChanges
in Reserves		 17
Statement ofCash Flows 18
Notes to the Financial Statements 19

Directors/
Management Board Mark Dowson (Chair) John Bell Nicholas Warden
Sarah Benjamin Alan Goodrum Umar Qayoum
Phillip Charlton Mark Bell
Wayne Noteman Clive Greenwood
Senior Management Team: The executive comprise the senior management team ofthe sole
member,
Horton		 Housing Association.
Registered Office: Chartford
House,		 54 Little Horton Lane, Bradford, BD5 OBS
Company Registration no: 8662400
Charity Registration no: 1162562
Registered Provider no." 4821
Solicitors: Schofield Sweeney
Church
Bank House
Church
Bank
Bradford
BD14DY
Auditors: Saffery Champness LLP
Mitre House
North Park Road
Harrogate
HG1 5RX
Bankers: Barclays Bank pic
10Market Street
Bradford
BD11NR
Development consortium: Accent Group Development
Consortium
Charlestown
House
Acorn Park Industrial Estate
Shipley
BD177SW
Development partner: Greenoak
Development		 Consultancy
High Austby
House
llkley
LS29 OBJ

Actual Actual Actual Actual
March 2018 March 2019 March 2020 March 2021

2021 2020
Note f
Turnover 3,694,835 1,053,270
Operating
expenditure		 (1,243,907) (542,295)
Operating
surplus		 2,450,928 510,975
Interest receivable
Interest and financing costs (196,847) (188,758)
Surplus for the year 13 2,254,081 322,217
Revaluation
surplus		 13 466,978 283,588
Total comprehensive income for the year 2,721,059 605,805
2021 2020
Note
Tangible fixed assets
Housing properties 8 14,027,854 8,456,375
14,027,854 8,456,375
Current assets
Debtors 9 1,263,824 222,414
Cash and cash equivalents 166,442 365,202
1,430,266 587,616
Creditors: amounts falling due within one year 10 (462,394) (469,324)
Net current assets 967,872 118,292
Total assets less current liabilities 14,995,726 8,574,667
Creditors: amounts falling due after more than one year 11 (10,400,000) (6,700,000)
Total net assets 4,595,726 1,874,667
Caoltal and reserves
Non-equity
share capital
Revenue
reserves		 '3 OCC
7AA
dgOVVg I2V		 J.)519)782
Revaluation
reserve		 13 729,936 354,885
Total reserves 4,595,726 1,874,667

Note Share Unrestricted
capital fund Total
f f
Balance at 1April 2019 1,268,862 1,268,862
Year ended 31March 2020
Surplus from statement
ofcomprehensive		 income 605,805 605,805
Balance at 31March 2020 1,874,667 1,874,667
Year ended 31March 2021
Surplus from statement ofcomprehensive income 2,721,059 2,721,059
Balance at 31March 2021 4,595,726 4,595,726
Note 2021 2020
f f
Net cash inflow from operating activities 16 2,226,627 1,008,159
Cash flow from investing activities
Purchase and construction of housing properties 8 (5,928,540) (1,928,039)
(5,928,540) (1,928,039)
Cash flow from financing activities
New Loans 3,700,000 1,200,000
Loan repayments
Interest
paid		 6 (196,847) (188,758)
3,503,153 1,011,242
Net change
in cash and cash equivalents		 in the period (198,760) 91,362
Casih and cash equ/vaIents att»e begmnlnig of the period 365,202 273,840
Cash and cash equivalents at the end of the period 166,442 365,202
MOVEMENTS
IN NET DEBT
1Aprl! Cashf!ows 31IV!arch
2020 2021
f f
Loans due after more than one year 6,700,000 3,700,000 10,400,000
(365,202) 198,760 (166,442)
Net Debt 6,334,798 3,501,240 10,233,558

Kitchen 15years
Bathroom 15years
Boiler 15years
Internal doors 20years
Windows 30years
External doors 30years
Electrical 30years
Central heating rads and pipework 30years
Roof 40years
Structure 40years

2021 2020
Operating Operating Operating
Operating
Turnover
f		 costs
f		 surplus
Turnover
f		 costs
surplus
f
Social housing
lettings		 3,694,835 1,243,907 2,450,928
1,053,270
542,295
510,975
and management
charges
Supported Total Total
Housing 2021 2020
E
Rent receivable
net of
identifiable
service charges		 615,085 615,085 488,690
Service charges receivable
Management
charges		 209,475 209,475 198,880
Government
Grants taken		 to income 2,870,275 2,870,275 365,000
Other Income 700
Turnover from social housing lettings 3,694,835 3,694,835 1,053,270
Expenditure
on social housing		 lettings
Management
costs		 419,868 419,868 301,055
Routine maintenance 199
Depreciation
ofhousing		 properties 5 other assets 276,357 276,357 206,771
Impairment
of housing		 properties 54/,682 54/,682 34,2/0
Operating
expenditure		 on social housing lettings 1,243,907 1,243,907 542,295
Operating
surplus
on social housing		 lettings
2,450,928 2,450,928 510,975
V 'd osses

2021 2020
No. No.
Managed by Agents (supported housing accommodation): 147 103
147 103

At the end ofthe year, th e cla sses ofacc ommodation
are analy		 sed
as follows:
2021 2020
No No
Supported
housing		 accommodation:
Self-contained flats 114 87
Houses 33 16
147 103
OPFRATINr SlJRPI US
The operating
surplus		 is arrived at after charging:
2021 2020
f
Depreciation
/ impairment		 of housing properties 824,039 241,041
Auditors' remuneration for audit services 4,920 4,750
6 INTEREST PAYABLE AND SIMILAR CHARGES
2021 2020
f
!nterest on group loans 196,847 188758

Housing Housing
properties properties
held for under
letting construction Total
f f f
Cost/Valuation
At 1April 2020 7,564,671 1,320,811 8,885,482
Additions 1,837,229 4,091,311 5,928,540
Transfers 4,802,756 (4,802,756)
Impairment (547,682) (547,682)
Revaluation 105,407 105,407
At 31March 2021 13,762,381 609,366 14,371,747
Depreciation
At 1April 2020 429,107 429,107
Charged
in year		 276,357 276,357
Revaluation (361,571) (361,571)
Ai 31iMiarch 2021 343,893 343,893
Depreciated cost
At 31March 2021 13,418,488 609,366 14,027,854
At 31March 2020 7,135,564 1,320,811 8,456,375

for th e year ended 31March 20 21
DEBTORS
2021 2020
f f
Government
grants receivable		 1,066,275 87,500
Prepayments
and accrued		 income 1,035 675
Inter-company
account		 196,514 134,239
1,263,824 222,414
10 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
f
Debt (note 12)
Trade creditors 183,782 34,222
Accruals and deferred income 275,755 311,653
Inter-company
account		 2,857 123,449
462,394 469,324
Included
above is deferred		 income off168,750 relating to government grants (2020:6282,000).
11 CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
'02u
Debt (note 12) 10,400,000 6,700,000
12 DEBTANALYSIS
2021 2020
Due within one year
Due after more than one year 10,400,000 6,700,000
10,400,000 6,700,000
Debt is repayable
as follows:
Debt within one year
Between one and two years
Between two and five years 10,400,000 6,700,000
After five years
10,400,000 6,700,000
RESERVES
General Reserve 2021
Opening
funds at 1April 2020		 1,519,782
Surplus for the financial year 2,254,081
Transfer from Revaluation
Reserve		 91,927
Closing funds at 31March 2021 3,865,790
Revaluation
Reserve
Opening
balance at 1April 2020		 354,885
Revaluation 466,978
Transfer to General Reserve (91,927)
Closing balance at 31March 2021 729,936
FINANCIAL INSTRUMENTS
2021 2020
Carrying amount offinancial assets measured at amortised cost 1,262,789 221,739
Carrying amount offinancial liabilities measured at amortised cost 10,760,229 6,887,324
FINANCIAL COMMITIVIENTS
Expenditure
commitments		 are as follows:
2020
E
Capital expenditure
Expenditure
contracted for		 but not provided in the accounts 326,535 317,227

SH GENERATED FROIVI OPERATI NG ACTI VITIES
2021 2020
Cash flow from operating
activities
Operating
surplus		 2,450,928 510,975
Depreciation
and impairment
of		 tangible fixed assets 824,039 241,041
Decrease/(increase)
in debtors		 (1,041,410) 2,959
Increase/(decrease)
in creditors		 (6,930) 253,184
Net cash inflow from operating activities 2,226,627 1,008,159

he following
is a summary
of
ompanies:		 the amo unts
recognis		 ed
and
rec		 eived
from the		 other
group
2021 2020
f
Fees charged to HHA
For acting as landlord for properties 53,783 53,518
For use ofone flat as an office 4,897 4,769
Fees charged to HHS
For acting as landlord for properties 126,795 116,593
For use ofproperty
as		 an office 24,000 24,000
Total related party fee income 209,475 198,880
Fees from
HHA for management
and housing support		 services 130,015 55,199
Fees from
HHA for support services		 128,125 125,000
interest charged on loan received from HHA 196,847 188,758
Fees from HHS for management services 57,755 52,079
Total related
party charges		 512,742 421,036
2021 2020
f f
Trading Accounts:
Horton
Housin~ Association		 (2,857) (123449)
Horton
Housing Support
Ltd		 196,514 134,239
Bradford
BASESocial Enterprise		 Company Ltd
Loans from Horton
Housing Association		 (10,400,000) (6,700,000)

Page
Board Members,
Executive Officers, Advisors		 and Bankers
Report ofthe Directors
Independent
Auditors'
Report to the Members ofChartford		 Housing Limited
Statement ofComprehensive
Income		 15
Statement of Financial
Position
Statement ofChanges
in Reserves		 17
Statement ofCash Flows 18
Notes to the Financial Statements 19

Directors/
Management		 Directors/
Management		 Board Mark Dowson (Chair)
Sarah Benjamin		 Mark Dowson (Chair)
Sarah Benjamin		 John
Alan		 Bell
Goodrum		 Bell
Goodrum		 Nicholas Warden
Umar Qayoum
Phillip Charlton Mark Bell
Wayne Noteman Clive Greenwood
Senior Management Team: The executive comprise the senior management team ofthe sole
member,
Horton		 Housing Association.
Registered Office: Chartford
House,		 54 Little Horton Lane, Bradford, BD5 OBS
Company Registration no: 8662400
Charity Registration no: 1162562
Registered Provider no: 4821
Solicitors: Schofield Sweeney
Church
Bank House
Church
Bank
Bradford
BD14DY
Auditors: Saffery Champness LLP
Mitre House
North Park Road
Harrogate
HG1 5RX
Bankers: Barclays Bank pic
10Market Street
Bradford
BD11NR
Development consortium: Accent Group Development Consortium
Charlestown
House
Acorn Park Industrial
Estate
Shipley
BD177SW
Development partner: Greenoak Development Consultancy
High Austby House
llkley
LS29 OBJ

2021 2020
Note f
Turnover 3,694,835 1,053,270
Operating
expenditure		 (1,243,907) (542,295)
Operating
surplus		 2,450,928 510,975
Interest receivable
Interest and financing costs (196,847) (188,758)
Surplus for the year 13 2,254,081 322,217
Revaluation
surplus		 13 466,978 283,588
Total comprehensive income for the year 2,721,059 605,805
2021 2020
Note E
Tangible fixed assets
Housing properties 8 14,027,854 8,456,375
14,027,854 8,456,375
Current assets
Debtors 9 1,263,824 222,414
Cash and cash equivalents 166,442 365,202
1,430,266 587,616
Creditors: amounts falling due within one year 10 (462,394) (469,324)
Net current assets 967,872 118,292
Total assets less current liabilities 14,995,726 8,574,667
Creditors: amounts falling due after more than one year 11 (10,400,000) (6,700,000)
Total net assets 4,595,726 1,874,667
Capital
anM rCSCrves
Non-equity
share capital
Revetiue icscivcs 13 3,865,/9U 1,519,/82
Revaluation
reserve		 13 729,936 354,885
Total reserves 4,595,726 1,874,667

Note Share Unrestricted
capital fund Total
E f.
Balance at 1April 2019 1,268,862 1,268,862
Year ended 31March 2020
Surplus from statement
ofcomprehensive		 income 605,805 605,805
Balance at 31IVlarch 2020 1,874,667 1,874,667
Year ended 31March 2021
Surplus from statement
ofcomprehensive		 income 2,721,059 2,721,059
Balance at 31March 2021 4,595,726 4,595,726

Note 2021 2020
f f
Net cash inflow from operating activities 16 2,226,627 1,008,159
Cash flow from investing activities
Purchase
and construction		 of housing properties 8 (5,928,540) (1,928,039)
(5,928,540) (1,928,039)
Cash flow from financing activities
New Loans 3,700,000 1,200,000
Loan repayments
Interest paid (196,847) (188,758)
3,503,153 1,011,242
Net change
in cash and cash equivalents		 in the period (198,760) 91,362
Cash and cash equivalents at ihe beglnnlng ofthe period 365,202 273,840
Cash and cash equivalents at the end ofthe period 166,442 365,202
MOVEMENTS
IN NET DEBT
1April Cashflows 31March
2020 2021
f
Loans due after more than one year 6,700,000 3,700,000 10,400,000
Cash (365,202) 198,760 (166,442)
Net Debt 6,334,798 3,501,240 10,233,558

Kitchen 15years
Bathroom 15years
Boiler 15years
Internal doors 20years
Windows 30years
External doors 30years
Electrical 30years
Central heating rads and pipework 30years
Roof 40years
Structure 40years

2021 2020
Operating Operating Operating
Operating
Turnover costs
f.		 surplus
Turnover
f
f		 costs
surplus
f
Social housing
lettings		 3,694,835 1,243,907 2,450,928
1,053,270
542,295
510,975
and management
charges
Supported Total Total
Housing 2021 2020
f f
Rent receivable
net of
identifiable
service charges		 615,085 615,085 488,690
Service charges receivable
Management
charges		 209,475 209,475 198,880
Government
Grants taken		 to income 2,870,275 2,870,275 365,000
Other income 700
Turnover from social housing lettings 3,694,835 3,694,835 1,053,270
Expenditure
on social housing		 lettings
Management
costs		 419,868 419,868 301,055
Routine maintenance 199
Depreciation
ofhousing		 properties 8 other assets 276,357 276,357 206,771
impairment
ofhousing		 properties 547,682 547,682 34,270
Operatingexpenditureonsocialhousinglettings 1,243,907 1,243,907 542,295
Operating
surplus
on social housing		 lettings
2,450,928 2,450,928 510,975
Void losses

2021 2020
No. No.
Managed by Agents (supported housing accommodation): 103
147 103

At the end ofthe year, th e cla sses ofac commodation
are anal		 ysed
as follows:
2021 2020
No. I'io.
Supported
housing		 accommodation:
Self-contained flats 114 87
Houses 33 16
147 103
OPERATING SURPLUS
The operating
surplus		 is arrived at after charging:
2021 2020
f
Depreciation
/ impairment		 ofhousing properties 824,039 241,041
Auditors' remuneration for audit services 4,920 4,750
INTEREST PAYABLE AND SIMILAR CHARGES
2021 2020
E f
interest on group ioans 196,847 188,758

Housing Housing
properties properties
held for under
letting construction Total
f f f
Cost/Valuation
At 1April 2020 7,564,671 1,320,811 8,885,482
Additions 1,837,229 4,091,311 5,928,540
Transfers 4,802,756 (4,802,756)
Impairment (547,682) (547,682)
Revaluation 105,407 105,407
At 31March 2021 13,762,381 609,366 14,371,747
Depreciation
At 1April 2020 429,107 429,107
Charged
in year		 276,357 276,357
Revaluation (361,571) (361,571)
At 31March 2021 343,893 343,893
Depreciated cost
At 31March 2021 13,418,488 609,366 14,027,854
At 31March 2020 7,135,564 1,320,811 8,456,375

for th e year ended 31 March 20 21
9 DEBTORS
2021 2020
f
Government grants receivable 1,066,275 87,500
Prepayments and accrued income 1,035 675
Inter-company account 196,514 134,239
1,263,824 222,414
10 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
f f
Debt (note 12)
Trade creditors 183,782 34,222
Accruals and deferred income 275,755 311,653
Inter-company account 2,857 123,449
462,394 469,324
Included
above is deferr		 ed
income off168,750 relating to government		 grants (202 0:f282,000
11 CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2021 2020
f
Debt (note 12) 10,400,000 6,700,000
12 DEBTANALYSIS
2020
Due within one year
Due after more than one year 10,400,000 6,700,000
10,400,000 6,700,000
Debt is repayable
as follows:
Debt within one year
Between one and two years
Between two and five years 10,400,000 6,700,000
After five years
10,400,000 6,700,000

RESERVES
General Reserve 2021
f
Opening funds at 1April 2020 1,519,782
Surplus for the financial year 2,254,081
Transfer from Revaluation
Reserve		 91,927
Closing funds at 31March 2021 3,865,790
Revaluation Reserve
Opening balance at 1April 2020 354,885
Revaluation 466,978
Transfer to General Reserve (91,927)
Closing balance at 31March 2021 729,936

FINANCIAL INSTRUMENTS
2021 2020
Carrying
amount offinancial		 assets measured at amortised cost 1,262,789 221,739
Carrying
amount offinancial		 liabilities measured at amortised cost 10,760,229 6,887,324
FINANCIAL COMMITMENTS
Expenditure
commitments
are as follows:
2021 2020
Capital expenditure
Expenditure
contracted
for		 but not provided in the accounts 326,535 317,227

SH GENERATED FROIVI OPERATI NG ACTI VITIES
2021 2020
f.
Cash flow from operating
activities
Operating
surplus		 2,450,928 510,975
Depreciation
and impairment
of		 tangible fixed assets 824,039 241,041
Decrease/(increase)
in debtors		 (1,041,410) 2,959
Increase/(decrease)
in creditors		 (6,930) 253,184
Net cash inflow from operating activities 2,226,627 1,008,159

The following
is a summary
of		 the amounts the amounts recognised and received from the other group
companies:
2021 2020
E E
Fees charged to HHA
For acting as landlord for properties 53,783 53,518
For use ofone flat as an office 4,897 4,769
Fees charged to HHS
For acting as landlord for properties 126,795 116,593
For use of property
as		 an office 24,000 24,000
Total related
party fee income		 209,475 198,880
Fees from
HHA for management
and housing		 support services 130,015 55,199
Fees from
HHA for supnort
services		 128,125 125 0nn
Interest charged on loan received from HHA 196,847 188,758
Fees from HHS for management services 57,755 52,079
Total related
party charges		 512,742 421,036
2021 2020
E E
Trading Accounts:
Hoiion Housing Association (2,857) (123,449)
Horton
Housing Support
Ltd		 196,514 134,239
Bradford
BASESocial Enterprise		 Company Ltd
Loans from Horton
Housing Association		 (10,400,000) (6,700,000)

Page
Board Members,
Executive Officers, Advisors		 and Bankers
Report ofthe Directors
Independent
Auditors'		 Report to the Members ofChartford Housing Limited
Statement ofComprehensive
Income		 15
Statement of Financial Position 16
Statement ofChanges in Reserves 17
Statement ofCash Flows 18
Notes to the Financial Statements 19

Directors/
Management Board Mark Dowson (Chair) John Bell Nicholas Warden
Sarah Benjamin Alan Goodrum Umar Qayoum
Phillip Charlton Mark Bell
Wayne Noteman Clive Greenwood
Senior Management Team: The executive comprise the senior management team ofthe sole
member,
Horton		 Housing Association.
Registered Office: Chartford
House,		 54 Little Horton Lane, Bradford, BD5 OBS
Company Registration no: 8662400
Charity Registration no: 1162562
Registered Provider no: 4821
Solicitors: Schofield Sweeney
Church
Bank House
Church
Bank
Bradford
BD14DY
Auditors: Saffery Champness LLP
Mitre House
North Park Road
Harrogate
HG1 5RX
Bankers: Barclays Bank pic
10Market Street
Bradford
BD11NR
Development consortium: Accent Group Development
Consortium
Charlestown
House
Acorn Park Industrial Estate
Shipley
BD177SW
Development partner: Greenoak Development Consultancy
High Austby
House
llkley
LS29 OBJ

2021 2020
Note
Turnover 3,694,835 1,053,270
Operating
expenditure		 (1,243,907) (542,295)
Operating
surplus		 2,450,928 510,975
Interest receivable
Interest and financing costs (196,847) (188,758)
Surplus forthe year 13 2,254,081 322,217
Revaluation
surplus		 13 466,978 283,588
Total comprehensive income for the year 2,721,059 605,805
2021 2020
Note E f.
Tangible fixed assets
Housing properties 8 14,027,854 8,456,375
14,027,854 8,456,375
Current assets
Debtors 9 1,263,824 222,414
Cash and cash equivalents 166,442 365,202
1,430,266 587,616
Creditors: amounts falling due wit:hin one year 10 (462,394) (469,324)
Net current assets 967,872 118,292
Total assets less current liabilities 14,995,726 8,574,667
Creditors: amounts falling due after more than one year 11 (10,400,000) (6,700,000)
Total net assets 4,595,726 1,874,667
Capital and rAsArvAs
Non-equity
share capital
RAVAnuie
resel"'IIA5
Revaluation
reserve		 729,936 354,885
Total reserves 4,595,726 1,874,667

Note Share Unrestricted
capital
f		 fund
C		 Total
Balance at 1April 2019 1,268,862 1,268,862
Year ended 31March 2020
Surplus from statement ofcomprehensive income 605,805 605,805
Balance at 31March 2020 1,874,667 1,874,667
Year ended 31March 2021
Surplus from statement ofcomprehensive income 2,721,059 2,721,059
Balance at 31March 2021 4,595,726 4,595,726

Note 2021 2020
Net cash inflow from operating activities 16 2,226,627 1,008,159
Cash flow from investing activities
Purchase
and construction		 of housing properties 8 (5,928,540) (1,928,039)
(5,928,540) (1,928,039)
Cash flow from financing activities
New Loans 3,700,000 1,200,000
Loan repayments
Interest
paid		 6 (196,847) (188,758)
3,503,153 1,011,242
Net change
in cash and cash equivalents		 in the period (198,760) 91,362
'Gash and cashl equlvaIents at tile beglnrllilg ofthe pef Iod 365,202 273,840
Cash and cash equivalents at the end of the period 166,442 365,202
IVIOVEMENTS IN NET DEBT
1April Cashfiows 31March
2020 2021
Loans due after more than one year 6,700,000 3,700,000 10,400,000
Cash (365,202) 198,760 (166,442)
Net Debt 6,334,798 3,501,240 10,233,558

Kitchen 15years
Bathroom 15years
Boiler 15years
Internal doors 20years
Windows 30years
External doors 30years
Electrical 30years
Central heating rads and pipework 30years
Roof 40years
Structure 40years

2021 2020
Operating Operating Operating
Operating
Turnover
f		 costs
f		 surplus
f
Turnover		 costs
surplus
f
f
Social housing lettings 3,694,835 1,243,907 2,450,928
1,053,270
542,295
510,975
and management
charges
Supported Total Total
Housing
f		 2021
f		 2020f
Rent receivable net of
identifiable
service charges		 615,085 615,085 488,690
Service charges receivable
Management charges 209,475 209,475 198,880
Government Grants taken to income 2,870,275 2,870,275 365,000
Oilier inc 700
Turnover from social housing lettings 3,694,835 3,694,835 1,053,270
Expenditure on social housing lettings
Management costs 419,868 419,868 301,055
Routine maintenance 199
Depreciation ofhousing properties 8 other assets 276,357 276,357 206,771
!mpairment of housing properties 5' 7 68$ 547,682 34,270
Operating
expenditure		 on social housing lettings 1,243,907 1,243,907 542,295
Operating
surplus
on social housing		 lettings
2,450,928 2,450,928 510,975
Void losses

2021 2020
No. No.
Managed by Agents (supported housing accommodation): 103
147 103

At the end ofthe year, the cla sses ofacc ommodation
are anal		 ysed
as follows:
2021 2020
No. No.
Supported
housing		 accommodation:
Self-contained flats 114 87
Houses 33 16
147 103
5 OPERATING SURPLUS
The operating
surplus		 is arrived at after charging:
2021 2020
f
Depreciation / impairment ofhousing properties 824,039 241,041
Auditors' remuneration for audit services 4,920 4,750
Interest on group loans 196,847 188,758

Housing Housing
properties properties
held for under
letting construction Total
f f
Cost/Valuation
At 1April 2020 7,564,671 1,320,811 8,885,482
Additions 1,837,229 4,091,311 5,928,540
Transfers 4,802,756 (4,802,756)
Impairment (547,682) (547,682)
Revaluation 105,407 105,407
At 31March 2021 13,762,381 609,366 14,371,747
Depreciation
At 1April 2020 429,107 429,107
Charged
in year		 276,357 276,357
Revaluation (361,571) (361,571)
At 31March 2021 343,893 343,893
Depreciated cost
At 31March 2021 13,418,488 609,366 14,027,854
At 31March 2020 7,135,564 1,320,811 8,456,375

9 DEBTORS
2021 2020
Government grants receivable 1,066,275 87,500
Prepayments and accrued income 1,035 675
Inter-company account 196,514 134,239
1,263,824 222,414
10 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
f f
Debt (note 12)
Trade creditors 183,782 34,222
Accruals and deferred income 275,755 311,653
Inter-company account 2,857 123,449
462,394 469,324
Included
above is defer		 red
income off168,750 relating to government		 grants (202 0:f282,000
11 CREDITORS: AMOUNTS FALL!NG DUE AFTER MORE THAN ONE YEAR
Debt (note 12) 10,400,000 6,700,000
12 DEBTANALYSIS
2020
Due within one year
Due after more than one year 10,400,000 6,700,000
10,400,000 6,700,000
Debt is repayable
as follows:
Debt within one year
Between one and two years
Between two and five years 10,400,000 6,700,000
After five years
10,400,000 6,700,000
13 RESERVES
General Reserve 2021
Opening funds at 1April 2020 1,519,782
Surplus for the financial year 2,254,081
Transfer from Revaluation
Reserve		 91,927
Closing funds at 31March 2021 3,865,790
Revaluation Reserve
Opening balance at 1April 2020 354,885
Revaluation 466,978
Transfer to General Reserve (91,927)
Closing balance at 31March 2021 729,936

2021 2020
Carrying amount offinancial assets measured at amortised cost 1,262,789 221,739
Carrying amount offinancial liabilities measured at amortised cost 10,760,229 6,887,324
INANCIAL COMMITMENTS
Expenditure
commitments		 are as follows:
2021 2020
f f
Capital expenditure
Expenditure
contracted for		 but not provided in the accounts 326,535 317,227

2021 2020
E
Cash flow from operating
activities
Operating
surplus		 2,450,928 510,975
Depreciation
and impairment
of		 tangible fixed assets 824,039 241,041
Decrease/(increase)
in debtors		 {1,041,410) 2,959
increase/(decrease)
in creditors		 (6,930) 253,184
Net cash inflow from operating activities 2,226,627 1,008,159

e following
is a summary
of
mpanies:		 the amo unts
recognised
and
rec		 eived
from the o		 ther
group
2021 2020
E f
Fees charged to HHA
For acting as landlord for properties 53,783 53,518
For use ofone flat as an office 4,897 4,769
Fees charged to HHS
For acting as landlord for properties 126,795 116,593
For use of property
as		 an office 24,000 24,000
Total related
party fee income		 209,475 198,880
Fees from
HHA for management
and housing support services		 130,015 55,199
Fees from
HHA for support services		 128,125 125,000
interest charged on loan received from HHA 196,847 188,758
Fees from HHS for management services 57,755 52,079
Total related party charges 512,742 421,036
2021 2020
f f
Trading Accounts:
Horton
Housing Association		 (2,857) (123,449)
Horton
Housing Support
Ltd		 196,514 134,239
Bradford
BASESocial Enterprise		 Company Ltd
Loans from Horton
Housing Association		 (10,400,000) (6,700,000)

Board Members,
Executive Officers, Advisors		 and Bankers
Report ofthe Directors
Independent
Auditors'
Report to the Members ofChartford		 Housing Limited
Statement ofComprehensive
Income
Statement of Financial
Position
Statement ofChanges
in Reserves
Statement ofCash Flows
Notes to the Financial Statements

Directors/
Management Board IVIark Dowson (Chair) John Bell Nicholas Warden
Sarah Benjamin Alan Goodrum Umar Qayoum
Phillip Charlton Mark Bell
Wayne Noteman Clive Greenwood
Senior Management Team: The executive comprise the senior management team ofthe sole
member,
Horton		 Housing Association.
Registered Office: Chartford
House,		 54 Little Horton Lane, Bradford, BD5 OBS
Company Registration no: 8662400
Charity Registration no: 1162562
Registered Provider no: 4821
Solicitors: Schofield Sweeney
Church
Bank House
Church
Bank
Bradford
BD14DY
Auditors: Saffery Champness LLP
Mitre House
North Park Road
Harrogate
HG1 5RX
Barclays Bank pic
10Market Street
Bradford
CI
BD11NR
Development consortium: Accent Group Development
Consortium
Charlestown
House
Acorn Park Industrial Estate
Shipley
BD177SW
Development partner: Greenoak
Development		 Consultancy
High Austby
House
Ilkley
LS29 OBJ

Actual Actual Actual Actual
March 2018 March 2019 March 2020 March 2021
55 33

t 31March 2021
2021 2020
Note E
Tangible fixed assets
Housing properties 8 14,027,854 8,456,375
14,027,854 8,456,375
Current assets
Debtors 9 1,263,824 222,414
Cash and cash equiva le nts 166,442 365,202
1,430,266 587,616
Creditors: amounts falling due within one year 10 (462,394) (469,324)
Net current assets 967,872 118,292
Total assets less current liabilities 14,995,726 8,574,667
Creditors: amounts falling due after more than one year 11 (10,400,000) (6,700,000)
Total net assets 4,595,726 1,874,667
Capital and reserves
Non-equity
share capital
Revenue
reserves		 3,865,790 1,519,782
Revaluation
reserve		 729,936 354,885
Total reserves 4,595,726 1,874,667

Note Share Unrestricted
capital fund Total
Balance at 1April 2019 1,268,862 1,268,862
Year ended 31March 2020
Surplus from statement ofcomprehensive income 605,805 605,805
Balance at 31March 2020 1,874,667 1,874,667
Year ended 31March 2021
Surplus from statement
ofcomprehensive		 income 2,721,059 2,721,059
Balance at 31March 2021 4,595,726 4,595,726

Note 2021 2020
E
Net cash inflow from operating activities 16 2,226,627 1,008,159
Cash flow from investing activities
Purchase and construction of housing properties 8 (5,928,540) (1,928,039)
(5,928,540) (1,928,039)
Cash flow from financing activities
New Loans 3,700,000 1,200,000
Loan repayments
Interest paid 6 (196,847) (188,758)
3,503,153 1,011,242
Net change
in cash and cash equivalents		 in the period (198,760) 91,362
Cash and cash equivalents at the begInning ofthe period 365,202 273,840
Cash and cash equivalents at the end of the period 166,442 365,202
MOVEIVIENTS IN NET DEBT
1April Cashflows 31March
2020 2021
Loans due after more than one year 6,700,000 3,700,000 10,400,000
Cash (365,202) 198,760 (166,442)
Net Debt 6,334,798 3,501,240 10,233,558

Kitchen 15years
Bathroom 15years
Boiler 15years
Internal doors 20years
Windows 30years
External doors 30years
Electrical 30years
Central heating rads and pipework 30years
Roof 40years
Structure 40years

2021 2020
Operating Operating Operating
Operating
Turnoverf costs
f		 surplus
f
Turnovel
f		 costs
surplus
f
f
Social housing
lettings		 3,694,835 1,243,907 2,450,928
1,053,270
542,295
510,975
and management
charges
Supported Total Total
Housing 2021 2020
f f f
Rent receivable
net of
identifiable
service charges		 615,085 615,085 488,690
Service charges receivable
Management
charges		 209,475 209,475 198,880
Government
Grants taken		 to income 2,870,275 2,870,275 365,000
Other income 700
Turnover from social housing lettings 3,694,835 3,694,835 1,053,270
Expenditure
on social housing		 lettings
Management
costs		 419,868 419,868 301,055
Routine maintenance 199
Depreciation
of housing		 properties S.other assets 276,357 276,357 206,771
Impairment
of housing		 properties 547,682 547,682 34,2?0
Operating
expenditure		 on social housing lettings 1,243,907 1,243,907 542,295
Operating
surplus
on social housing		 lettings
2,450,928 2,450,928 510,975
Void losses
2021 2020
No. No.
Managed by Agents (supported housing accommodation): 147 103
147 103

At the end ofthe year, th e cla sses ofac commodation
are anal		 ysed
as follows:		 ysed
as follows:
2021 2020
No.
Supported
housing		 accommodation:
Self-contained flats 114 87
Houses 33 16
147 103
OPERATING SURPLUS
The operating
surplus		 is arrived at after charging:
2021 2020
f f
Depreciation
/ impairment		 ofhousing properties 824,039 241,041
Auditors' remuneration for audit services 4,920 4,750
6 INTEREST PAYABLE AND SIMILAR CHARGES
2020
f
interest on group ioans 196,847 188,758

Housing Housing
properties properties
held for under
letting
f		 construction
f		 Total
f
Cost/Valuation
At 1April 2020 7,564,671 1,320,811 8,885,482
Additions 1,837,229 4,091,311 5,928,540
Transfers 4,802,756 (4,802,756)
Impairment (547,682) (547,682)
Revaluation 105,407 105,407
At 31March 2021 13,762,381 609,366 14,371,747
Depreciation
At 1April 2020 429,107 429,107
Charged
in year		 276,357 276,357
Revaluation (361,571) (361,571)
Ai 31March 2021 343,893 343,893
Depreciated cost
At 31March 2021 13,418,488 609,366 14,027,854
At 31March 2020 7,135,564 1,320,811 8,456,375

for th e year ended 31March 20 21
9 DEBTORS
2021 2020
Government
grants receivable		 1,066,275 87,500
Prepayments
and accrued		 income 1,035 675
Inter-company
account		 196,514 134,239
1,263,824 222,414
10 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
f
Debt (note 12)
Trade creditors 183,782 34,222
Accruals and deferred income 275,755 311,653
Inter-company
account		 2,857 123,449
462,394 469,324
Included
above is deferred		 income off168,750 relating to government grants (2020:f282,000
11 CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2021 2020
Debt (note 12) 10,400,000 6,700,000
12 DEBTANALYSIS
2020
E
Due within one year
Due after more than one year 10,400,000 6,700,000
10,400,000 6,700,000
Debt is repayable
as follows:
Debt within one year
Between one and two years
Between two and five years 10,400,000 6,700,000
After five years
10,400,000 6,700,000
RESERVES
General Reserve 2021
Opening
funds at 1April 2020		 1,519,782
Surplus for the financial year 2,254,081
Transfer from Revaluation
Reserve		 91,927
Closing funds at 31March 2021 3,865,790
Revaluation
Reserve
Opening
balance at 1April 2020		 354,885
Revaluation 466,978
Transfer to General Reserve (91,927)
Closing balance at 31March 2021 729,936

2021 2020
Carrying amount offinancial assets measured at amortised cost 1,262,789 221,739
Carrying amount offinancial liabilities measured at amortised cost 10,760,229 6,887,324
FINANCIAL COMMITMENTS
Expenditure
commitments		 are as follows:
2021 2020
f.
Capital expenditure
Expenditure
contracted for		 but not provided in the accounts 326,535 317,227

SH GENERATED FROM OPERATI NG ACTI VITIES
2021 2020
IE
Cash flow from operating
activities
Operating
surplus		 2,450,928 510,975
Depreciation
and impairment
of		 tangible fixed assets 824,039 241,041
Decrease/(increase)
in debtors		 (1,041,410) 2,959
Increase/(decrease)
in creditors		 (6,930) 253,184
Net cash inflow from operating activities 2,226,627 1,008,159

2021 2020
Fees charged to HHA f
For acting as landlord
For use ofone flat as		 for properties
an office		 53,783
4,897		 53,518
4,769
Fees charged to HMS
For acting as landlord
For use ofproperty
as		 for properties
an office		 126,795
24,000		 116,593
24,000
Total related party fee income
209,475 198,880
Fees from
HMA for management
and housing support services
Fees from
HHA for support services
Interest charged
on loan received from
HHA		 130,015
128,125
196,847		 55,199
125,000
188,758
Fees from HHS for management services 57,755 52,079
Total related party charges 512,742 421,036
s at 31March 2021,the following balances were due from/(to) the other Group companies:
2020
Trading Accounts:
Horton
Housing Association
Horton
Housing Support
Ltd
Bradford
BASESocial Enterprise
Company		 Ltd (2,857)
196,514		 (123,449)
134,239
Loans from Horton
Housing Association		 (10,400,000)
(6,700,000)