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|Board Members,
Executive Officers, Advisors|and Bankers||||
|---|---|---|---|---|
|Report ofthe Directors|||||
|Independent
Auditors'
Report to the Members ofChartford||Housing|Limited|12|
|Statement ofComprehensive
Income||||16|
|Statement of Financial
Position||||17|
|Statement ofChanges
in Reserves||||18|
|Statement ofCash Flows||||19|
|Notes to the Financial Statements||||20|
##
|Directors/Management|Directors/Management|Directors/Management|Directors/Management|Board|Mark Dowson (Chair)|Mark Dowson (Chair)||Phillip Charlton|Phillip Charlton|Phillip Charlton|Kim Smart||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||John Bell|||Mark Bell|||Zuzka Downing||
||||||Nicholas Warden|||Clive Greenwood|||Catherine|Kelly|
||||||Alan Goodrum|||Sue|Missin||||
|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||||||||
|Bankers:|||||Barclays Bank pic||||||||
||||||10Market Street||||||||
||||||Bradford||||||||
||||||BD11NR||||||||
|Development||consortium:|||Unity Housing
Development||||Consortium||||
||||||113-117Chapeltown||Road||||||
||||||Leeds||||||||
||||||LS7 3HY||||||||
|Development||partner:|||Greenoak
Development|||Consultancy|||||
||||||High Austby House||||||||
||||||llkley||||||||
||||||LS29 OBJ||||||||
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||||2022|2021|
|---|---|---|---|---|
|||||E|
|Turnover|||2,624,627|3,694,835|
|Operating
expenditure|||(1,720,281)|(1,243,907)|
|Operating
surplus|||904,346|2,450,928|
|Loss on disposal offixed assets|||(17,612)||
|Interest and financing|costs||(291,271)|(196,847)|
|Surplus for the year||15|595,463|2,254,081|
|Revaluation
surplus||15|294,650|466,978|
|Total comprehensive|income for the year||890,113|2,721,059|
##
||||Note|Share|Unrestricted||
|---|---|---|---|---|---|---|
|||||capital|fund|Totai|
|||||f||f|
|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|
|Year ended 31March|2022||||||
|Surplus from statement|ofcomprehensive|income|||890,113|890,113|
|Balance at31March 2022|||||5,485,839|5,485,839|
||||||||Note|2022|2021|
|---|---|---|---|---|---|---|---|---|---|
||||||||||f|
|Net cash|inflow from operating||activities||||18|3,397,971|2,226,627|
|Cash flow|from investing|activities||||||||
|Purchase|and construction|of housing||fixed||assets|9|(3,508,461)|(5,928,540)|
|Sale ofhousing fixed assets||||||||166,699||
|Recycled grant||||||||(25,000)||
|||||||||(3,366,762)|(5,928,540)|
|Cash flow|from financing|activities||||||||
|New Loans||||||||300,000|3,700,000|
|Loan repayments||||||||||
|Interest paid||||||||(291,271)|(196,847)|
|||||||||8,729|3,503,153|
|Net change
in cash and cash equivalents|||||in|the period||39,938|(198,760)|
|Cash and|cash equivalents|at the beginning||||of the period||166,442|365,202|
|Cash and|cash equivaients|at the end||of|the|period||206,380|166,442|
|MOVEIVIENTS IN NET DEBT||||||||||
||||||||1April 2020|Cashflows|31March|
||||||||||2022|
|||||||||f|f|
|Loans due|after more than|one|year||||10,400,000|300,000|10,700,000|
|Cash|||||||(166,442)|(39,938)|(206,380)|
||||||||10,233,558|260,062|10,493,620|
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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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||||||2022|||2021|
|---|---|---|---|---|---|---|---|---|
||||Operating|||Operating|Operating
Operating||
||Turnover|||costs
f||surplus
Turnover
f
f||costs
surplus
f|
|Social housing
lettings|2,624,627||1,720,281|||904,346
3,694,835
1,243,907
2,450,928|||
|and management|||||||||
|charges|||||||||
|||||||Supported|Total|Total|
|||||||Housing|2022|2021|
|||||||f|f|f|
|Rent receivable
net of|||||||||
|identifiable
service charges||||||858,536|858,536|615,085|
|Management
charges||||||216,729|216,729|209,475|
|Government
Grants taken to||income||||1,508,169|1,508,169|2,870,275|
|Other Income||||||41,193|41,193||
|Turnover from social housing||lettings||||2,624,627|2,624,627|3,694,835|
|Expenditure
on social housing||lettings|||||||
|Management
costs||||||930,420|930,420|419,868|
|Depreciation
ofhousing|properties||S.other||assets|457,532|457,532|276,357|
|Impairment
of housing|properties|||||332,329|332,329|547,682|
|Operating
expenditure|on social housing|||lettings||1,720,281|1,720,281|1,243,907|
|Operating
surplus on social housing|||lettings|||904,346|904,346|2,450,928|
|Void losses|||||||||
##
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||||||2022|2021|
|---|---|---|---|---|---|---|
||||||No.|No.|
|Supported
housing|accommodation:||||||
|Self-contained||flats|||133|114|
|Houses|||||53|33|
||||||186|147|
|OPERATING SURPLUS|||||||
|The operating
surplus|is arrived at||after|charging:|||
||||||2022|2021|
||||||f|f|
|Depreciation
/ impairment
ofhousing||||properties|789,862|824,039|
|(Loss) on disposal ofhousing fixed assets|||||(17,612)||
|Auditors'
remuneration||for audit|services||7,400|4,920|
|LOSS ON DISPOSAL OF HOUSING|||FIXEDASSETS||||
||||||2022|2021|
|Disposal proceeds|||||166,699||
|Carrying value ofhousing||fixed assets|||(159,311)||
||||||7,388||
|Capital grant recycled (Note 13)|||||(25,000)||
|Total loss on disposal|of|housing|fixed|assets|(17,612)||
##
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||Housing|Housing||
|---|---|---|---|
||properties|properties||
||held for|under||
||letting|construction|Total|
|Cost/Valuation||||
|At 1April 2021|13,762,381|609,366|14,371,747|
|Additions||3,508,461|3,508,461|
|Disposa Is|(165,983)|(47,584)|(213,567)|
|Transfers|2,194,213|(2,194,213)||
|impairment|(332,330)||(332,330)|
|Revaluation|104,538||104,538|
|At31March 2022|j5,562,819|1,876,030|17,438,849|
|Depreciation||||
|At 1April 2021|343,893||343,893|
|Charged
in year|457,532||457,532|
|Disposa Is|(6,672)||(6,672)|
|Revaluation|(190,113)||(190,113)|
|At 31March 2022|604,640||604,640|
|Depreciated cost||||
|At 31March 2022|14,958,179|1,876,030|16,834,209|
|At 31March 2021|13,418,488|609,366|14,027,854|
##
|forth|e year ended 31March 2022|||||
|---|---|---|---|---|---|
|10|DEBTORS|||||
|||2022|||2021|
||||f||f|
||Government
grants receivable||351,769||1,066,275|
||Other debtors||6,391|||
||Prepayments
and accrued income||||1,035|
||Inter-company
account||222,291||196,514|
||||580,451||1,263,824|
|11|CREDITORS: AMOUNTS
FALLING DUE WITHIN ONE YEAR|||||
||||2022||2021|
||||||f|
||Trade creditors||149,043||183,782|
||Accruals and deferred
income||1,155,438||275,755|
||Inter-company
account||130,720||2,857|
||||1,435,201||462,394|
||Included
above is deferred
income off1,036,350 relating to government
f168,750).||grants|(2021:||
||Balance at 31March 2021||||168,750|
||Amount
billed
in the year||||2,375,769|
||Amount
released to income|in the year||~1508169||
||Balance at 31March 2022||||1036350|
|12|CREDITORS: AMOUNTS
FALLING DUE AFTER MORE THAN ONE YEAR|||||
||||ZOZZ||ZOZ1|
||Debt (note 14)|10700 000|||10400 00|
|13|RECYCLED CAPITAL GRANT FUND|||||
||Opening
funds at 1April 2021|||||
||Grants recycled||25,000|||
||Recycling ofgrant: new property||(25,000)|||
||Closing funds at31March 2022|||||
|forth|e year ended 31IVlarch 2022|||
|---|---|---|---|
|14|DEBTANALYSIS|||
|||2022f|2021
f|
||Due within one year|||
||Due after more than one year|10,700,000|10,400,000|
||Debt is repayable
as follows:|||
||Debt within one year|||
||Between one and two years|10,700,000||
||Between two and five years||10,400,000|
||After five years|||
|||10,700,000|10,400,000|
||The full amount ofthe debt above is unsecured.|||
|15|RESERVES|||
||General Reserve|||
||Opening
funds at 1April 2021|3,865,790||
||Surplus for the financial year|595,463||
||Transfer from Revaluation
Reserve|17?,870||
||Closing funds at 31March 2022|4,639,123||
||Revaluation
Reserve|||
||Opening
balance at 1April 2021|729,936||
||Dr
~ ~
I
i +i~
I'\CVO IUG LIVI I|294(650||
||Transfer to General Reserve|(177,870)||
||Closing balance at 31March 2022|846,716||
||||||||||2021|
|---|---|---|---|---|---|---|---|---|---|
|Carrying|amount|offinancial|assets measured|at|amortised|cost||574,060|1,262,789|
|Carrying|amount|offinancial|liabilities measured||at amortised||cost|11,098,850|10,760,229|
||||||||||27|
||Expenditure
commitments
are as|follows:|||||
|---|---|---|---|---|---|---|
||||||2022|2021|
||Capital expenditure||||||
||Expenditure
contracted for but|not provided||in the accounts|1,319,078|326,535|
|18|CASH GENERATED FROM OPERATING ACTIVITIES||||||
||||||2022|2021|
||Cash flow from operating
activities||||||
||Operating
surplus||||904,346|2,450,928|
||Capitalised
costs written off||||47,584||
||Depreciation
and impairment
of housing||fixed assets||789,862|824,039|
||Decrease/(increase)
in debtors||||683,373|(1,041,410)|
||Increase/(decrease)
in creditors||||972,806|(6,930)|
||Net cash inflow from operating|activities|||3,397,971|2,226,627|
##
##
|e following
is a summary
o
mpanies:|f th|e amo|unts
recognised
and
rec|eived
from the o|ther
group|
|---|---|---|---|---|---|
|||||2022|2021|
||||||f|
|Fees charged to HHA||||||
|For acting as landlord|for properties|||57,503|53,783|
|For use offlats as offices||||9,965|4,897|
|Fees charged to HHS||||||
|For acting as landlord|for properties|||121i134|j )67oc|
|For use of properties|as offices|||28,127|24,000|
|Total related
party fee income||||216,729|209,475|
|Fees from
HHA for management||and housing support services||514,949|130,015|
|Fees from
HHA for support services||||130,000|128,125|
|Interest charged on loan received||from|HHA|291,271|196,847|
|Fees from
HHS for management||services||74,422|57,755|
|Tota I related
pa rty charges||||1,010,642|512,742|
||||||2021|
|---|---|---|---|---|---|
||||||f|
|Trading|Accounts:|||||
|Horton|Housing Association|||(130,720)|(2,857)|
|Horton|Housing Support||Ltd|222,291|196,514|
|Loans from Horton||Housing Association||(10,700,000)|(10,400,000)|