## 



## 

||||||Page|
|---|---|---|---|---|---|
|Board Members,<br>Executive Officers, Advisors||and Bankers||||
|Report ofthe Directors||||||
|Independent<br>Auditors'|Report to the Members ofChartford||Housing|Limited||
|Statement ofComprehensive<br>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,<br>Horton|Housing Association.||||||
|Registered|Office:||||Chartford<br>House,|54|Little Horton|||Lane, Bradford,|BDS OBS|
|Company|Registration|||no:|8662400|||||||
|Charity Registration|||no:||1162562|||||||
|Registered|Provider||no:||4821|||||||
|Solicitors:|||||Schofield Sweeney|||||||
||||||Church<br>Bank House|||||||
||||||Church<br>Bank|||||||
||||||Bradford|||||||
||||||BD14DY|||||||
|Auditors:|||||Saffery Champness|LLP||||||
||||||Mitre House|||||||
||||||North<br>Park Road|||||||
||||||Harrogate|||||||
||||||HG1 SRX|||||||
|Bankers:|||||Barclays Bank pic|||||||
||||||10K/larket Street|||||||
||||||Bradford|||||||
||||||BD1 1NR|||||||
|Development||consortium:|||Accent Group Development||||Consortium|||
||||||Charlestown<br>House|||||||
||||||Acorn Park Industrial||Estate|||||
||||||Shipley|||||||
||||||BD177SW|||||||
|Development||partner:|||Greenoak<br>Development|||Consultancy||||
||||||High Austby<br>House|||||||
||||||Ilkley|||||||
||||||LS29 OBJ|||||||





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|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)|



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||||2021|2020|
|---|---|---|---|---|
|||Note|f|E|
|Turnover|||3,694,835|1,053,270|
|Operating<br>expenditure|||(1,243,907)|(542,295)|
|Operating<br>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<br>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<br>share capital||||||
|Revenue<br>reserves|||13|3,865,790|1,.519,782|
|Revaluation<br>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<br>ofcomprehensive|income|||605,805|605,805|
|Balance at31March 2020||||1,874,667|1,874,667|
|Year ended 31March 2021||||||
|Surplus from statement<br>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<br>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<br>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|





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## 

|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|



## 

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## 

||||||||2021|||2020|
|---|---|---|---|---|---|---|---|---|---|---|
||||||Operating|||Operating|Operating<br>Opcl'a'ting||
|||Turnover<br>f||||costs<br>f||surplus<br>E<br>Turnover||costs<br>surplus<br>f<br>f|
|Social housing<br>lettings||3,694,835|||1,243,907|||2,450,928<br>1,053,270<br>542,295<br>510,975|||
|and management|||||||||||
|charges|||||||||||
|||||||||Supported|Total|Total|
|||||||||Housing|2021|2020|
|||||||||||E|
|Rent receivable<br>net of|||||||||||
|identifiable<br>service charges||||||||615,085|615,085|488,690|
|Service charges receivable|||||||||||
|Management<br>charges||||||||209,475|209,475|198,880|
|Government<br>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<br>on social|housing||lettings||||||||
|Management<br>costs||||||||419,868|419,868|301,055|
|Routine<br>mmaintenance||||||||||199|
|Depreciation<br>of housing properties||||R|other||assets|276,357|276,357|206,771|
|impairnicni<br>of housing|p!Opert!es|||||||54/,682|54/,682|34,270|
|Operating<br>expenditure|on social housing|||||lettings||1,243,907|1,243,907|542,295|
|Operating<br>surplus<br>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<br>housing||accommodation:||||||
||Self-contained||flats|||114|87|
||Houses|||||33|16|
|||||||147|103|
|OPERATING cl IRDI IIc||||||||
|The operating<br>surplus||is arrived at after charging:||||||
||||||2021||2020|
||||||f|||
|Depreciation<br>/ 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<br>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<br>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<br>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<br>c|ommitments<br>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<br>activities|||||
|Operating<br>surplus|||2,450,928|510,975|
|Depreciation<br>and impairment<br>of|tangible|fixed assets|824,039|241,041|
|Decrease/(increase)<br>in debtors|||(1,041,410)|2,959|
|Increase/(decrease)<br>in creditors|||(6,930)|253,184|
|Net cash inflow from operating|activities||2,226,627|1,008,159|



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## 



|he following<br>is a summary<br>of<br>mpanies:|the amo|unts<br>recognised<br>and<br>rec|eived<br>from the o|ther<br>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<br>as|an office||24,000|24,000|
|Total related<br>party fee income|||209,475|198,880|
|Fees from<br>HHA for management<br>and housing support services|||130,015|55,199|
|Fees from<br>HHA for support services|||128,125|125,000|
|Ipterost chargod<br>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<br>Housing Association|||(2,857)|(123,449)|
|Horion<br>Housing Support<br>Ltd|||196,514|134,239|
|Bradford<br>BASESocial Enterprise|Company|Ltd|||
|Loans from Horton<br>Housing Association|||(10,400,000)|(6,700,000)|





## 

|||||Page|
|---|---|---|---|---|
|Board Members,<br>Executive Officers, Advisors|and Bankers||||
|Report ofthe Directors|||||
|Independent<br>Auditors'<br>Report to the Members|ofChartford|Housing|Limited||
|Statement ofComprehensive<br>Income||||15|
|Statement of Financial<br>Position|||||
|Statement ofChanges<br>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,<br>Horton|Housing Association.|||||
|Registered|Office:||||Chartford<br>House,|54|Little Horton||Lane, Bradford,|BD5 OBS|
|Company|Registration|||no:|8662400||||||
|Charity Registration|||no:||1162562||||||
|Registered|Provider||no."||4821||||||
|Solicitors:|||||Schofield Sweeney||||||
||||||Church<br>Bank House||||||
||||||Church<br>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<br>Consortium||||||
||||||Charlestown<br>House||||||
||||||Acorn Park Industrial||Estate||||
||||||Shipley||||||
||||||BD177SW||||||
|Development||partner:|||Greenoak<br>Development|||Consultancy|||
||||||High Austby<br>House||||||
||||||llkley||||||
||||||LS29 OBJ||||||





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|Actual||Actual||Actual||Actual||
|---|---|---|---|---|---|---|---|
|March|2018|March|2019|March|2020|March|2021|




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## 

||||2021|2020|
|---|---|---|---|---|
|||Note||f|
|Turnover|||3,694,835|1,053,270|
|Operating<br>expenditure|||(1,243,907)|(542,295)|
|Operating<br>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<br>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<br>share capital||||||
|Revenue<br>reserves||||'3 OCC<br>7AA<br>dgOVVg I2V|J.)519)782|
|Revaluation<br>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<br>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<br>paid|||||||6|(196,847)|(188,758)|
|||||||||3,503,153|1,011,242|
|Net change<br>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<br>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|





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## 

|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|



## 

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## 

## 

||||||||2021|||2020||
|---|---|---|---|---|---|---|---|---|---|---|---|
|||||Operating||||Operating|Operating<br>Operating|||
|||Turnover<br>f||||costs<br>f||surplus<br>Turnover<br>f||costs<br>surplus<br>f||
|Social housing<br>lettings|3,694,835||||1,243,907|||2,450,928<br>1,053,270<br>542,295<br>510,975||||
|and management||||||||||||
|charges||||||||||||
|||||||||Supported|Total|Total||
|||||||||Housing|2021|2020||
||||||||||E|||
|Rent receivable<br>net of||||||||||||
|identifiable<br>service charges||||||||615,085|615,085|488,690||
|Service charges receivable||||||||||||
|Management<br>charges||||||||209,475|209,475|198,880||
|Government<br>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<br>on social housing|||lettings|||||||||
|Management<br>costs||||||||419,868|419,868|301,055||
|Routine maintenance||||||||||199||
|Depreciation<br>ofhousing|properties 5||||other||assets|276,357|276,357|206,771||
|Impairment<br>of housing|properties|||||||54/,682|54/,682|34,2/0||
|Operating<br>expenditure|on social housing|||||lettings||1,243,907|1,243,907|542,295||
|Operating<br>surplus<br>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<br>are analy|sed<br>as follows:||
|---|---|---|---|---|---|---|---|---|
||||||||2021|2020|
||||||||No|No|
||Supported<br>housing||accommodation:||||||
|||Self-contained||flats|||114|87|
|||Houses|||||33|16|
||||||||147|103|
||OPFRATINr|SlJRPI US|||||||
||The operating<br>surplus||is arrived at after|||charging:|||
||||||||2021|2020|
||||||||f||
||Depreciation<br>/ 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<br>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<br>grants receivable|||1,066,275|87,500|
||Prepayments<br>and accrued||income|1,035|675|
||Inter-company<br>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<br>account|||2,857|123,449|
|||||462,394|469,324|
||Included<br>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<br>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<br>funds at 1April 2020|1,519,782|
|Surplus for the financial year|2,254,081|
|Transfer from Revaluation<br>Reserve|91,927|
|Closing funds at 31March 2021|3,865,790|
|Revaluation<br>Reserve||
|Opening<br>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<br>commitments|are as follows:|||||||||
||||||||||2020|
||||||||||E|
|Capital expenditure||||||||||
|Expenditure<br>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<br>activities|||||
|Operating<br>surplus|||2,450,928|510,975|
|Depreciation<br>and impairment<br>of|tangible|fixed assets|824,039|241,041|
|Decrease/(increase)<br>in debtors|||(1,041,410)|2,959|
|Increase/(decrease)<br>in creditors|||(6,930)|253,184|
|Net cash inflow from operating|activities||2,226,627|1,008,159|



## 

## 

## 

## 

## 

## 



|he following<br>is a summary<br>of<br>ompanies:|the amo|unts<br>recognis|ed<br>and<br>rec|eived<br>from the|other<br>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<br>as|an office|||24,000|24,000|
|Total related party fee income||||209,475|198,880|
|Fees from<br>HHA for management<br>and housing support|||services|130,015|55,199|
|Fees from<br>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<br>party charges||||512,742|421,036|



||||2021|2020|
|---|---|---|---|---|
||||f|f|
|Trading Accounts:|||||
|Horton<br>Housin~ Association|||(2,857)|(123449)|
|Horton<br>Housing Support<br>Ltd|||196,514|134,239|
|Bradford<br>BASESocial Enterprise|Company|Ltd|||
|Loans from Horton<br>Housing Association|||(10,400,000)|(6,700,000)|





## 



## 

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





## 

|Directors/<br>Management|Directors/<br>Management|Board|||Mark Dowson (Chair)<br>Sarah Benjamin|Mark Dowson (Chair)<br>Sarah Benjamin||John <br>Alan|Bell<br> Goodrum|Bell<br> Goodrum|Nicholas Warden<br>Umar Qayoum|
|---|---|---|---|---|---|---|---|---|---|---|---|
||||||Phillip Charlton|||Mark|Bell|||
||||||Wayne Noteman|||Clive|Greenwood|||
|Senior Management|||Team:||The executive comprise|||the senior||management|team ofthe sole|
||||||member,<br>Horton|Housing Association.||||||
|Registered|Office:||||Chartford<br>House,|54|Little Horton|||Lane, Bradford, BD5 OBS||
|Company|Registration|||no:|8662400|||||||
|Charity Registration|||no:||1162562|||||||
|Registered|Provider||no:||4821|||||||
|Solicitors:|||||Schofield Sweeney|||||||
||||||Church<br>Bank House|||||||
||||||Church<br>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<br>House|||||||
||||||Acorn Park Industrial<br>Estate|||||||
||||||Shipley|||||||
||||||BD177SW|||||||
|Development||partner:|||Greenoak Development|||Consultancy||||
||||||High Austby House|||||||
||||||llkley|||||||
||||||LS29 OBJ|||||||





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## 




## 

||||2021|2020|
|---|---|---|---|---|
|||Note||f|
|Turnover|||3,694,835|1,053,270|
|Operating<br>expenditure|||(1,243,907)|(542,295)|
|Operating<br>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<br>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<br>anM rCSCrves||||||
|Non-equity<br>share capital||||||
|Revetiue icscivcs|||13|3,865,/9U|1,519,/82|
|Revaluation<br>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<br>ofcomprehensive|income|||605,805|605,805|
|Balance at 31IVlarch 2020||||1,874,667|1,874,667|
|Year ended 31March 2021||||||
|Surplus from statement<br>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<br>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<br>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<br>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<br>Operating||
|||Turnover|||costs<br>f.||surplus<br>Turnover<br>f<br>f||costs<br>surplus<br>f|
|Social housing<br>lettings|3,694,835||||1,243,907||2,450,928<br>1,053,270<br>542,295<br>510,975|||
|and management||||||||||
|charges||||||||||
||||||||Supported|Total|Total|
||||||||Housing|2021|2020|
|||||||||f|f|
|Rent receivable<br>net of||||||||||
|identifiable<br>service charges|||||||615,085|615,085|488,690|
|Service charges receivable||||||||||
|Management<br>charges|||||||209,475|209,475|198,880|
|Government<br>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<br>on social housing|||lettings|||||||
|Management<br>costs|||||||419,868|419,868|301,055|
|Routine maintenance|||||||||199|
|Depreciation<br>ofhousing|properties|||8|other|assets|276,357|276,357|206,771|
|impairment<br>ofhousing|properties||||||547,682|547,682|34,270|
|Operatingexpenditureonsocialhousinglettings|||||||1,243,907|1,243,907|542,295|
|Operating<br>surplus<br>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<br>are anal|ysed<br>as follows:||
|---|---|---|---|---|---|---|---|
|||||||2021|2020|
|||||||No.|I'io.|
|Supported<br>housing||accommodation:||||||
||Self-contained||flats|||114|87|
||Houses|||||33|16|
|||||||147|103|
|OPERATING SURPLUS||||||||
|The operating<br>surplus||is arrived at after|||charging:|||
|||||||2021|2020|
||||||||f|
|Depreciation<br>/ 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<br>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<br>above is deferr|ed<br>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<br>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<br>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<br>amount offinancial|assets measured|at|amortised|cost||1,262,789|221,739|
|Carrying<br>amount offinancial|liabilities measured||at amortised||cost|10,760,229|6,887,324|
|FINANCIAL COMMITMENTS||||||||
|Expenditure<br>commitments<br>are as follows:||||||||
|||||||2021|2020|
|Capital expenditure||||||||
|Expenditure<br>contracted<br>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<br>activities|||||
|Operating<br>surplus|||2,450,928|510,975|
|Depreciation<br>and impairment<br>of|tangible|fixed assets|824,039|241,041|
|Decrease/(increase)<br>in debtors|||(1,041,410)|2,959|
|Increase/(decrease)<br>in creditors|||(6,930)|253,184|
|Net cash inflow from operating|activities||2,226,627|1,008,159|



## 

## 

## 

## 

## 

## 



|The following<br>is a summary<br>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<br>as|an office|||||24,000|24,000|
|Total related<br>party fee income|||||209,475||198,880|
|Fees from<br>HHA for management<br>and housing|||support services|||130,015|55,199|
|Fees from<br>HHA for supnort<br>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<br>party charges|||||512,742||421,036|



||||2021|2020|
|---|---|---|---|---|
||||E|E|
|Trading Accounts:|||||
|Hoiion Housing Association|||(2,857)|(123,449)|
|Horton<br>Housing Support<br>Ltd|||196,514|134,239|
|Bradford<br>BASESocial Enterprise|Company|Ltd|||
|Loans from Horton<br>Housing Association|||(10,400,000)|(6,700,000)|





## 

||||||Page|
|---|---|---|---|---|---|
|Board Members,<br>Executive Officers, Advisors||and Bankers||||
|Report ofthe Directors||||||
|Independent<br>Auditors'|Report to the Members ofChartford||Housing|Limited||
|Statement ofComprehensive<br>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,<br>Horton|Housing Association.||||||
|Registered|Office:||||Chartford<br>House,|54||Little Horton||Lane, Bradford,|BD5 OBS|
|Company|Registration|||no:|8662400|||||||
|Charity Registration|||no:||1162562|||||||
|Registered|Provider||no:||4821|||||||
|Solicitors:|||||Schofield Sweeney|||||||
||||||Church<br>Bank House|||||||
||||||Church<br>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<br>Consortium|||||||
||||||Charlestown<br>House|||||||
||||||Acorn Park Industrial|||Estate||||
||||||Shipley|||||||
||||||BD177SW|||||||
|Development||partner:|||Greenoak Development||||Consultancy|||
||||||High Austby<br>House|||||||
||||||llkley|||||||
||||||LS29 OBJ|||||||





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## 

||||2021|2020|
|---|---|---|---|---|
|||Note|||
|Turnover|||3,694,835|1,053,270|
|Operating<br>expenditure|||(1,243,907)|(542,295)|
|Operating<br>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<br>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<br>share capital||||||
|RAVAnuie<br>resel"'IIA5||||||
|Revaluation<br>reserve||||729,936|354,885|
|Total reserves||||4,595,726|1,874,667|



## 



## 

|||Note|Share|Unrestricted||
|---|---|---|---|---|---|
||||capital<br>f|fund<br>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<br>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<br>paid||||||6|(196,847)|(188,758)|
||||||||3,503,153|1,011,242|
|Net change<br>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<br>Operating||
||||Turnover<br>f|||||costs<br>f||surplus<br>f<br>Turnover||costs<br>surplus<br>f<br>f|
|Social housing|lettings|3,694,835|||||1,243,907|||2,450,928<br>1,053,270<br>542,295<br>510,975|||
|and management|||||||||||||
|charges|||||||||||||
|||||||||||Supported|Total|Total|
|||||||||||Housing<br>f|2021<br>f|2020f|
|Rent receivable net of|||||||||||||
|identifiable<br>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<br>expenditure||on social|||housing|||lettings||1,243,907|1,243,907|542,295|
|Operating<br>surplus<br>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<br>are anal|ysed<br>as follows:||
|---|---|---|---|---|---|---|---|---|
||||||||2021|2020|
||||||||No.|No.|
||Supported<br>housing||accommodation:||||||
|||Self-contained||flats|||114|87|
|||Houses|||||33|16|
||||||||147|103|
|5|OPERATING SURPLUS||||||||
||The operating<br>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<br>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<br>above is defer|red<br>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<br>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<br>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<br>commitments|are as follows:||||||||
||||||||2021|2020|
||||||||f|f|
|Capital expenditure|||||||||
|Expenditure<br>contracted for||but not provided|in|the accounts|||326,535|317,227|



## 



## 

## 

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



## 

## 

## 

## 

## 

## 



|e following<br>is a summary<br>of <br>mpanies:|the amo|unts<br>recognised<br>and<br>rec|eived<br>from the o|ther<br>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<br>as|an office||24,000|24,000|
|Total related<br>party fee income|||209,475|198,880|
|Fees from<br>HHA for management<br>and housing support services|||130,015|55,199|
|Fees from<br>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<br>Housing Association|||(2,857)|(123,449)|
|Horton<br>Housing Support<br>Ltd|||196,514|134,239|
|Bradford<br>BASESocial Enterprise|Company|Ltd|||
|Loans from Horton<br>Housing Association|||(10,400,000)|(6,700,000)|





## 

|Board Members,<br>Executive Officers, Advisors|and Bankers|||
|---|---|---|---|
|Report ofthe Directors||||
|Independent<br>Auditors'<br>Report to the Members ofChartford||Housing|Limited|
|Statement ofComprehensive<br>Income||||
|Statement of Financial<br>Position||||
|Statement ofChanges<br>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,<br>Horton|Housing Association.|||||||
|Registered|Office:||||Chartford<br>House,|54||Little Horton||Lane, Bradford,||BD5 OBS|
|Company|Registration|||no:|8662400||||||||
|Charity Registration|||no:||1162562||||||||
|Registered|Provider||no:||4821||||||||
|Solicitors:|||||Schofield Sweeney||||||||
||||||Church<br>Bank House||||||||
||||||Church<br>Bank||||||||
||||||Bradford||||||||
||||||BD14DY||||||||
|Auditors:|||||Saffery Champness||LLP||||||
||||||Mitre House||||||||
||||||North Park Road||||||||
||||||Harrogate||||||||
||||||HG1 5RX||||||||
||||||Barclays Bank pic||||||||
||||||10Market Street||||||||
||||||Bradford<br>CI||||||||
||||||BD11NR||||||||
|Development||consortium:|||Accent Group Development<br>Consortium||||||||
||||||Charlestown<br>House||||||||
||||||Acorn Park Industrial|||Estate|||||
||||||Shipley||||||||
||||||BD177SW||||||||
|Development||partner:|||Greenoak<br>Development||||Consultancy||||
||||||High Austby<br>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<br>share capital||||||
|Revenue<br>reserves||||3,865,790|1,519,782|
|Revaluation<br>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<br>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<br>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<br>Operating||
|||Turnoverf|||costs<br>f||surplus<br>f<br>Turnovel<br>f||costs<br>surplus<br>f<br>f|
|Social housing<br>lettings|3,694,835|||1,243,907|||2,450,928<br>1,053,270<br>542,295<br>510,975|||
|and management||||||||||
|charges||||||||||
||||||||Supported|Total|Total|
||||||||Housing|2021|2020|
||||||||f|f|f|
|Rent receivable<br>net of||||||||||
|identifiable<br>service charges|||||||615,085|615,085|488,690|
|Service charges receivable||||||||||
|Management<br>charges|||||||209,475|209,475|198,880|
|Government<br>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<br>on social housing|||lettings|||||||
|Management<br>costs|||||||419,868|419,868|301,055|
|Routine maintenance|||||||||199|
|Depreciation<br>of housing|properties|||S.other||assets|276,357|276,357|206,771|
|Impairment<br>of housing|properties||||||547,682|547,682|34,2?0|
|Operating<br>expenditure|on social housing||||lettings||1,243,907|1,243,907|542,295|
|Operating<br>surplus<br>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<br>are anal|ysed<br>as follows:|ysed<br>as follows:||
|---|---|---|---|---|---|---|---|---|---|
||||||||2021||2020|
||||||||No.|||
||Supported<br>housing||accommodation:|||||||
|||Self-contained||flats||||114|87|
|||Houses||||||33|16|
|||||||||147|103|
||OPERATING SURPLUS|||||||||
||The operating<br>surplus||is arrived at after|||charging:||||
||||||||2021||2020|
||||||||f||f|
||Depreciation<br>/ 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<br>f|construction<br>f|Total<br>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<br>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<br>grants receivable|||1,066,275|87,500|
||Prepayments<br>and accrued||income|1,035|675|
||Inter-company<br>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<br>account|||2,857|123,449|
|||||462,394|469,324|
||Included<br>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<br>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<br>funds at 1April 2020|1,519,782|
|Surplus for the financial year|2,254,081|
|Transfer from Revaluation<br>Reserve|91,927|
|Closing funds at 31March 2021|3,865,790|
|Revaluation<br>Reserve||
|Opening<br>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<br>commitments||are as follows:|||||||||
||||||||||2021|2020|
|||||||||||f.|
|Capital|expenditure||||||||||
|Expenditure<br>contracted for|||but not|provided|in|the accounts|||326,535|317,227|





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



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||||2021|2020|
|---|---|---|---|---|
|Fees charged to HHA||||f|
|For acting as landlord <br>For use ofone flat as|for properties<br> an office||53,783<br>4,897|53,518<br>4,769|
|Fees charged to HMS|||||
|For acting as landlord<br>For use ofproperty<br>as|for properties<br> an office||126,795<br>24,000|116,593<br>24,000|
|Total related party fee income|||||
||||209,475|198,880|
|Fees from<br>HMA for management<br>and housing support services<br>Fees from<br>HHA for support services<br>Interest charged<br>on loan received from<br>HHA|||130,015<br>128,125<br>196,847|55,199<br>125,000<br>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<br>Housing Association|||||
|Horton<br>Housing Support<br>Ltd<br>Bradford<br>BASESocial Enterprise<br>Company||Ltd|(2,857)<br>196,514|(123,449)<br>134,239|
|Loans from Horton<br>Housing Association|||(10,400,000)<br>(6,700,000)||