2023-03-31-accounts

	Page
Board Members, Executive Officers, Advisors and Bankers	1
Report ofthe Directors	2
Independent Auditors’ Report to the Members of Chartford Housing Limited	12
Statement of Comprehensive Income	16
Statement of Financial Position	17
Statement of Changes in Reserves	18
Statement of Cash Flows	19
Notes to the Financial Statements	20

Directors/Management Board	Mark Dowson (Chair)	Phillip Chariton	John Bell
	Nicholas Warden	Catherine Kelly	Alan Goodrum
	Sue Missin	Laura Varley	Danny Boardman
	James Hogarth	Jamie Bradley
Senior ManagementTeam:	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
	BD1 4DY
Auditors:	Crowe U.K. LLP
	The Lexicon
	Mount Street
	Manchester
	M2 5NT
Bankers:	Barclays Bank plc
	10 Market Street
	Bradford
	BD1 1NR
Development consortium:	Unity Housing Development Consortium
	113-117 Chapeltown Road
	Leeds
	L57 3HY
Development partner:	Greenoak Development Consultancy
	High Austby House
	llkIey
	L529 OBJ

		2023	2022
	Note	£	£
Turnover	3	3,518,130	2,624,627
Operating expenditure		(2,794,976)	(1,720,281)
Operating surplus	5	723,154	904,346
Loss on disposal offixed assets	6	-	(17,612)
Interest and financing costs	7	(388,829)	(291,271)
Surplusforthe year	15	334,325	595,463
Revaluation surplus	15	120,293	294,650
Total comprehensive income for the year		454,618	890,113

		2023	2022
	Note
		£	£
Tangible fixed assets
Housing properties	9	18,076,210	16,834,209
		18,076,210	16,834,209
Current assets
Debtors	10	603,271	580,451
Cash and cash equivalents		39,617	206,380
		642,888	786,831
Creditors: amounts falling due within one year	11	(1,078,641)	(1,435,201)
Net current (liabilities)! assets		(435,753)	(648,370)
Total assets less current liabilities		17,640,457	16,185,839
Creditors: amounts falling due after more than one year	12	(11,700,000)	(10,700,000)
Total net assets		5,940,457	5,485,839
Capital and reserves
Non-equity share capital		-	-
Revenue reserves	15	5,027,413	4,639,123
Revaluation reserve	15	913,044	846,716
Total reserves		5,940,457	5,485,839

	Note	Share	Unrestricted
		capital	fund	Total
		£	£	£
Balance at 31 March 2021		-	4,595,726	4,595,726
Year ended 31 March 2022
Surplus from statement ofcomprehensive income		-	890,113	890,113
Balance at 31 March 2022		-	5,485,839	5,485,839
Year ended 31 March 2023
Surplus from statement of comprehensive income		-	454,618	454,618
Balance at 31 March 2023		-	5,940,457	5,940,457

	Note	2023	2022
		£	£
Net cash inflow from operating activities	18	2,304,224	3,397,971
Cash flow from investing activities
Purchase and construction of housing fixed assets	9	(3,082,158)	(3,508,461)
Sale of housing fixed assets			166,699
Recycled grant			(25,000)
		(3,082,158)	(3,366,762)
Cash flow from financing activities
New Loans		1,000,000	300,000
Loan Repayments
Interest paid	7	(388,829)	(291,271)
		611,171	8,729
Net change in cash and cash equivalents in the period		(166,763)	39,938
Cash and cash equivalents atthe beginning ofthe period		206,380	166,442
Cash and cash equivalents at the end of the period		39,617	206,380
MOVEMENTS IN NET DEBT
1	April 2022	Cashflows	31 March
	£		2023
		£	£
Loans due after more than one year	10,700,000	1 ,000,000	11,700,000
Cash	(206,380)	166,763	(39,617)
Net Debt	10,493,620	1,166,763	11,660,383

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

		2023			2022
		Operating	Operating		Operating	Operating
	Turnover	costs	surplus	Turnover	costs	surplus
	£	£	£	£	£	£
Social housing lettings	3,518,130	2,794,976	723,154	2,624,627	1,720,281	904,346
and management
charges

	Supported	Total	Total
	Housing	2023	2022
	£	£	£
Rent receivable net of
identifiable service charges	967,585	967,585	858,536
Management charges	224,814	224,814	216,729
Government Grants taken to income	2,289,481	2,289,481	1,508,169
Other Income	36,250	36,250	41,193
Turnover from social housing lettings	3,518,130	3,518,130	2,624,627
Expenditure on social housing lettings
Management costs	834,526	834,526	930,420
Depreciation of housing properties & other assets	520,207	520,207	457,532
Impairment of housing properties	1,440,243	1,440,243	332,329
Operating expenditure on social housing lettings	2,794,976	2,794,976	1,720,281
Operatingsurplus on social housing lettings	723,154	723,154	904,346
Void losses	1,400	1,400	-

						2023	2022
						No.	No.
Managed	by	Agents	(supported	housing	accommodation):	218	186

		2023	2022
		No.	No.
	Supported housing accommodation:
	Self-contained flats	161	133
	Houses	57	53
		218	186
5	OPERATING SURPLUS
	The operating surplus is arrived at after charging:
		2023	2022
		£	£
	Depreciation/ impairmentof housing properties	1,960,540	789,862
	(Loss) on disposal of housing fixed assets	-	(17,612)
	Auditors’ remuneration for audit services	7,550	7,400
6	LOSS ON DISPOSAL OF HOUSING FIXED ASSETS
		2023	2022
		£	£
	Disposal proceeds	-	166,699
	Carryingvalue of housing fixed assets	-	(159,311)
		-	7,388
	Capital grant recycled (Note 13)	-	(25,000)
	Total loss on disposal of housing fixed assets	-	(17,612)

				2023	2022
				£	£
Interest	on	group	loans	388,829	291,271

	Housing	Housing
	properties	properties
	held for	under
	letting	construction	Total
	£	£	£
Cost/Valuation
At 1 April 2022	15,562,819	1,876,030	17,438,849
Additions	121,333	2,960,825	3,082,158
Disposals	-	-	-
Transfers	3,613,970	(3,613,970)	-
Impairment	(1,440,243)	-	(1,440,243)
Revaluation	47,672		47,672
At 31 March 2023	17,905,551	1,222,885	19,128,436
Depreciation
At 1 April 2022	604,640	-	604,640
Charged in year	520,207	-	520,207
Disposals	-	-	-
Revaluation	(72,621)	-	(72,621)
At 31 March 2023	1,052,226	-	1,052,226
Depreciated cost
At 31 March 2023	16,853,325	1,222,885	18,076,210
At 31 March 2022	14,958,179	1,876,030	16,834,209

10	DEBTORS
		2023	2022
		£	£
	Government grants receivable	127,103	351,769
	Other debtors	449	6,391
	Prepayments and accrued income	-	-
	Inter-companyaccount	475,719	222,291
		603,271	580,451

11	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
		2023	2022
		£	£
	Trade creditors	92,232	149,043
	Accruals and deferred income	401,225	1,155,438
	Inter-companyaccount	585,184	130,720
		1,078,641	1,435,201

		£
Balance	at 31 March 2022	1,036,350
Amount	received in the year	638,000
Amount	released to income in the year	(1,351,350)
Balance	at 31 March 2023	323,000

13	RECYCLED CAPITAL GRANT FUND
		2023	2022
		£	£
	Opening funds at 1 April 2022	-
	Grants recycled	-	25,000
	Recycling of grant: new property	-	(25,000)
	Closing funds at 31 March 2023	-
14	DEBT ANALYSIS
		2023	2022
		£	£
	Due within one year	-	-
	Due after morethan one year	11,700,000	10,700,000
	Debt is repayable as follows:
	Debt within one year	-	-
	Between one and two years	-	10,700,000
	Between two and five years	11,700,000	-
	After five years	-	-
		11,700,000	10,700,000
	The full amount ofthe debt above is unsecured.
15	RESERVES
	General Reserve	2023
		£
	Opening funds at 1 April 2022	4,639,123
	Surplus for the financial year	334,325
	Transferfrom Revaluation Reserve	53,965
	Closing funds at 31 March 2023	5,027,413
	Revaluation Reserve
	Opening balance at 1 April 2022	846,716
	Revaluation	120,293
	Transferto General Reserve	(53,965)
	Closing balance at 31 March 2023	913,044

16	FINANCIAL INSTRUMENTS
		2023	2022
		£	£
	Carrying amount of financial assets measured at amortised cost	602,822	574,060
	Carrying amount of financial liabilities measured at amortised cost	12,455,641	11,098,850
17	FINANCIAL COMMITMENTS
	Expenditure commitments are as follows:
		2023	2022
		£	£
	Capital expenditure
	Expenditure contracted for but not provided in the accounts	145,807	1,319,078
18	CASH GENERATED FROM OPERATING ACTIVITIES
		2023	2022
		£	£
	Cash flow from operating activities
	Operating surplus	723,154	904,346
	Capitalised costs written off	-	47,584
	Depreciation and impairment of housing fixed assets	1,960,450	789,862
	Decrease/(increase) in debtors	(22,820)	683,373
	Increase/(decrease) in creditors	(356,560)	972,806
	Net cash inflow from operating activities	2,304,224	3,397,971

mpanies:
	2023	2022
	£	£
Fees charged to HHA
- For acting as landlord for properties	49,652	57,503
- For use offlats as offices	14,819	9,965
Fees charged to HHS
- For acting as landlord for properties	131,682	121,134
- For use of properties as offices	28,660	28,127
Total related party fee income	224,813	216,729
Fees from HHA for management and housing support services	411,581	514,949
Fees from HHA for support services	130,000	130,000
Interest charged on loan received from HHA	388,828	291,271
Fees from HHS for management services	83,584	74,422
Total related party charges	1,013,993	1,010,642

	2023	2022
	£	£
Trading Accounts:
Horton Housing Association	(585,184)	(130,720)
Horton Housing Support Ltd	475,719	222,291
Loans from Horton Housing Association	(11,700,000)	(10,700,000)