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2024-03-31-accounts

Registered company number: 8662400 Registered charity number: 1162562 Registered provider number: 4821

Chartford Housing Limited

Report and Financial Statements

Year ended 31 March 2024

Chartford Hous1￿ Limited CONTENTS Pace Board Members, Executive Offlcers. Advisors and Bankers Report of the Dlrectors Independent Audltors, Report to the Members of Chartford Hou51ng Llmlted 12 Statement of Comprehenslve Income 16 Statement of Financial Posltlon 17 Statement of Changes In Reserves 18 Statement of Cash Flows 19 Notes to the Flnanclal Statements 20

Chartford Housing Limited

BOARD MEMBERS, EXECUTIVE OFFICERS, ADVISORS AND BANKERS

Directors/Management Board Nicholas Warden (Chair) Catherine Kelly Nicholas Warden (Chair) Catherine Kelly Susan Missin
James Hogarth Thomas Donnelly Nabeel Alhassan
Shruti Vasudev Rosemary Keczkes Mark Wilby
Danny Nicklen
Senior Management Team: The executive comprise the senior management team of the sole
member, Horton Housing Association.
Registered Ofice: 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
BDl 4DY
Auditors: Crowe U.K. LLP
The Lexicon
Mount Street
Manchester
M25NT
Bankers: Barclays Bank pie
10 Market Street
Bradford
BD1 1NR
Development consorium: Unity Housing Development Consortium
113-117 Chapeltown Road
Leeds
LS7 3HY
Development parner: Greenoak Development Consultancy
High Austby House
llkley
LS29 OBJ

Chartford Housing Limitod REPORT OF THE DIREcfoRS The directors present their report and audited flnancial statements forthe year ended 31 March 2024. CONSTITUTION Chartford Housing Limited was Incorporated lin the United Kingdom) on 23 August 2013 and is constituted as a company lirnlted by guarantee and not having a share capital. As at 31 March 2024 the sole member, Horton Housing Association, had guaranteed £1 in the event of a winding up of the company. The current Articles of Association are as amended by special resolutlons dated 24 June 2015. The company regi51ered with the Charlty Commission as a charity on 7 July 2015. The company registered with the Homes and Communities Agency Inow known as the Regulator of Social Housing) as a registered provider on l October 2015 and started operations on that date. PRINCIPAL AcfiviTIES The charitable object5 Of the company are to carry on for the benefit of the community the busine55 of providing housin8, including the provision of social housin& and any a550clated amenitles for persons in necessitous circumstance5 upon terms appropriate to their rneans. In the year covered by these accounts the princlpal activities of the company were: 11 Acting as a landlord for supported houslng providers who are not reglstered providers 21 Developing resldential supported housing propertles with the assistance of Homes England grants The company does not undertake any fundraislng activities. A5 a member of the Horton Hou51ng Group the company works closely with the other8roup members; Horton Housing Association, Horton Hou51ng Support Limited and 8radford Base Social Enterprise Company Llmited. The company has paid due regard to the Charity Commission 8uldance on publlc benefit. GOVERNANCE. BOARD MEMBERS AND EXECUTIVE OFFICERS The Management Board has adopted the NHF 2020 Code of Governance. It has undertaken an annual assessment of compliance using the NHF'5 recommended checkllst as a basi5 for this assessment to confirm compliance as at March 2024. The Management Board's assessment is that it complie5 Wlth the Code, with two exceptSons. These are.. 3.3 Board compositlon - (4J Therels a dedlcated senlor boonl member (norn?ally o vlce-chalr or senlor Independent dlrertor) wlth duties that in¢lude appraisal of the choir 4vnd o55i5tinq the chalr to ensure the effertlveness ol the l)oord. - Where we have appointed an external consultant to undertake this on the Board's behalf 3.10 Member appra15al- (l) The appralsol ol the boarfs chalr Is led by o senior boord member, infvrmed by the views OA all board meml)ers. Where appraisal of the Board5, chair is led by an independent consultant. It Is informed by the views of all Board Members

Chartford Housing Limitgd REPORT OF THE DIRECTORS ICONTINUED) The Management Board comprises all the current directors of the company and must comprise of no less than five and no more than 12 members. The following are directors of the company that have held office during the year and until the date thls report was approved.. Nicholas Warden Ichalrl Susan Missin James Hogarth Shruti Vasudev lappolnted 26161241 Mark Wilby (appointed 26161241 Nabeel Alhassan (appointed 26161241 Mark Dowson Iresi8ned 12151241 Alan Goodrum Iresi8ned 12151241 Phi11Sp Charlton Iresigned 30111241 Catherine Kelly Daniel 8oardman (resigned 619/241 Thomas Donnelly (appointed 12191231 Rosemary Keczkes (appointed 26161241 Danny Nicklen lappolnted 26161241 Mark Bell Iresi8ned 9151231 John Bell (resigned 12151241 Laura Varley (resigned 31111241 Jamle 8radley (resigned 25111241 The Board formally met five times during the 2023124 year, a5 well as holdlng an Awayday to consider strategic matters. The Awayday wa5 a face to face meeting. All other meetings were hybrld with a mixture of attendees in person and via vldeo link. All staff resources and other resources, includlng the skills of the senior management team, are provided under a Support Services Agreement with the parent undertaklng, Horton Houslng AssociatSon, and agreed cost5 char8ed to Chartford Housing Limited through an inter-companv management char8e. BUSINESS REVIEW ANO FINANCIAL RESULTS At the be8Snnlng of the financial year the company owned 218 operatlonal unlts of supported accommodation in West and North Yorkshire, with 11 further unfinished unit5 under development or refurblshment. Durlng the year the company purchased 6 further unlts for refurbishment. With one unfinished unit carried forward at 31 March 2024, 16 additional units were let as supported accommodation by 31 March 2024 bringin8 the total to 234 owned and in management. The company a150 leased 267 units of supported accommodatlon as at the 31 March 2024, an Increase of 10 durln8 the year. following a programme of acqui51tion of propertles by the parent companv, Horton Housing A550ciation, which have subsequently been leased to the company to act as landlord for the properties. The rents from all the properties are guaranteed under management a8reements with manaBin8 agents. The rent received for owned properties amounted to £1.288k in the year to 31 March 2024 12023: £968kl. The fees earned in respect of the lease arrangements with Chartford actin8 as landlord amounted to £236k12023: £225kl All property purchases and developments to date have been funded with the assistance of Homes England Social Housing Grant and loans from Horton Housing Associatlon. Social Housing Grants are recognised in the accounts when grant condition5 are met, which for Homes England is on completion of the development, in accordance with the Housing SORP 2018. The overall surplus for the year amounted to £320k12023-. £342kl and reserves of £6,590k are carried forward at 31 March 2024. The value of residential property held by the company a5 at 31 March 2024 wa5 £18.6 million12023.. £18.1 million).

Chartford Housing Limited

REPORT OF THE DIRECTORS (CONTINUED}

Within the year the accounting treatment of land and buildings was revised and restated in accordance with the Financial Reporting Standard (FRS102) and the Statement of Recommended Practice: Accounting by Registered Social Housing Providers 2018 ("Housing SORP"). The total net impact on the reserves at 31 March 2023 is an increase of £11,475. This relates to land that had been incorrectly depreciated, for further details see note 21 to the Accounts.

FUTURE DEVELOPMENTS

The company continues to work with Unity Housing (as members of the Unity Housing Development Consortium) and Horton Housing Association to identify new opportunities to develop new supported housing schemes. The company is also registered with Homes England in its own right as a Development Partner. Current and future developments are being progressed via these routes.

The company is continuing its development programme and at 31 March 2024 had one property under development, as well as agreed funding for the acquisition and refurbishment of a further 17 properties under the Single Homeless Accommodation Programme. The company is actively seeking further opportunities to develop during 2024/25 under the Continuous Market Engagement part of the Homes England Affordable Homes Programme and hopes to deliver further additional accommodation through other government initiatives.

Whilst costs of developments have increased markedly in recent years, this appears to have moderated more recently. The company carefully assesses each development opportunity prior to commitment. However the company plans to continue developing.

POLICY, PROCEDURE AND INTERNAL CONTROL

The company has adopted all of the policies, procedures and internal controls of its parent, Horton Housing Association, which are also adopted by other members of Horton Housing Group. Some of those policies, procedures and internal controls have been modified to take into account the particular activities of the company. The company has also developed some of its own specific policies and procedures where it has been felt necessary. The Group has its own Quality Assurance Team (OAT) that provides an internal audit function for all members. The QAT develop an annual Group Risk-Based Internal Audit Plan that is then implemented over the course of the financial year.

RESERVES POLICY

The company has adopted the Reserves Policy of the Horton Housing Group and does not operate a separate policy. The policy sets out that sufficient reserves should be maintained "in order to provide reliable services over the longer term and have the capacity to absorb setbacks and to take advantage of change and opportunity".

The company aims to steadily build up its reserves and as at 31 March 2024 the company's unrestricted general reserve stood at £5,378k and the revaluation reserve at £1,212k. The level of reserves is regularly monitored as part of its financial reporting and budgeting processes.

IDENTIFYING AND EVALUATING KEY RISKS

The Horton Housing Group operates comprehensive risk management procedures in order to minimise the risk of sudden financial loss or the inability to continue operating. One of the Group's key strategic objectives is to grow the business, particularly its property assets, and Chartford Housing Limited is a primary deliverer of that objective. The company benefits from loan financing and

4

Chartford Houslng Llmlled REPORT OF THE DIRECTORS (CONTINUED) operational support from the Group parent company, Horton Housing Association. These arrangements are set out in an Intragroup Agreement and Support Services Agreement. Good rlsk management enables the company to use its available funds a5 fully as possible to achieve its charitable objectives and reduces the need for large reseNes to be held as cash. There is an over-arching Group Organisational Risk Register IORRI whlch applies to all the group entitie5 and which identifies key risks and the controls required to manage those risks. New risks can be added to the ORR at any tlme, It Is reviewed quarterly, and there is an annual review as part of the business plannin8 pmces5. A separate Risk Register for Chartford Housing Lirnlted covers risks speclfically related to the company. This is reviewed slx-monthly by the Board, with the Business Plan, and quarterly by senior management. The principal Identlfied risks for Chartford Housing Limlted are considered to be those of.. compliance with contractual and regulatory requirement5 Ilncluding Health & Safety and Energy improvement obligations),. the chan8in8 and challenging economic environment; the recrultment, retentSon and capacity of staff,. the good governance of the organisation given the retirement of number of lon85tanding members and replacement wlth new members; and changing Government Policy and priorities. Other risk areas are also identified. Controls are in place to mlnlmlse the likelihood of risks crystallising and/or minimise the effects of them If they do. A Group Audit & Rlsk Commlttee. to which a member of the Chartford Housing Llmlted Board is appolnted, carries out a two-year cycle of revlews to consider every risk on the ORR and Chartford Housin8 Limited's Risk Re8lster and assess the effectivene55 and adequacy of the controls to limit those rSsks. The review5 a55e55 whether any actions are required to ensure each risk is adequately controlled. 114FORMATION AND PERFORMANCE REPORTING SYSTEMS The Board has identified Key Performance Indicators and performance a8alnst these indicators Is revlewed by the Board at its regular meetin8s. Many of the indicators used are those used by Housemark and/or Acuity Smaller Providers Benchmarking ISPBMI so that the company can benchmark agalnst others in the sector. The indicators provlde data on key areas such a5: Rent collected, rent arrears, rent10st through voids, rent lost through bad debts Average re.let times, unoccupied days Emergency repairs, urgent repair5 & routine repalrs performance Ga5 Safety Certification Tenant satisfaction with repairs and other Services Complaint5, anti-social behaviour, incidents and accidents VFM Standard IApril 20181 metrics EFFiaENCY AND VALUE FOR MONEY The company'5 Value for Money IVFMI Strategy sets out that the Board's role is to have- An assessment of its assets and resources A robust approach to decision making A good overview of VFM across the whole buslness Rigorous appraisal of options to improve VFM Targets to improve performance Telating to VFM

Chartford Housing Limited REPORT OFTHE DIRECTORS ICONTINUED) Regular reports and reviews in relation to current arrangements for deliverin8 the companvs activities Confidence that Its skllls and reporting Systems are sufficient to be able to challenge executives The company had adopted a Value for Money Strategy in June 2022. Whilst the Strate8Y Itself was sufficient, the approach that wa5 included in it for measuring and monitorlng VFM was found to duplicate other reporting, to be overly complex and not easily understood. In 2023, the Board requested that the Strategy be reviewed again, with particular focus on these area5. A revised VFM Strategy wa5 approved by the Board in June 2024 which has simplified monitoring and reporting processe5 Wlthin it. During 2024125 we will be reintroducing the monitoring and reporting of VFM to Board, which will commence in the second half of 2024125. Value for Mone measurements and r¢ rtin The company Is required to demonstrate that it meets the Regulator of Social Housing's VFM Standard (Aprll 20181. The Standard requlres Registered Provlders to annually publish evidence In the statutory accounts to enable stakeholders to understand the provider's: Performance a8ainst Its own value for money targets and any metrics set out by the re8ulator, and how that performance compares to peers Measurable plans to address any areas of underperformance, Including clearly stating any a￿aS where improvements would not be appropriate and the rationale for this. The Regulator published a set of nine metrics, under five headlngs, that must be reported upon and we set these out below, identified with an asterisk, and with a brief commentary on each. We also show some of our own internal metrics that we think add to an understanding of the company's performance. Where ovailable we have used the Acuity SP8M (Small Providers Benchmarkin81 Outcome5 for 2023 a5 a benchmark comparison figure and comment upon variances from the benchmark. Buslness heotth 'Operatlng maryln {overall} 26.4% (2023: 21.9%) SPBM benchmark 2023: 13.22% The company contSnues to report healthy operating margin5. However, as we are relatlvely small, both the denominator lincomel and the numerator Isurplusl in this calculation can be dlsproportionately affected by the arnount of social hou5in8 grant we receive in a year and any assoclated Impairment recognised on completed projects, so it does vary significantly between year5. 'Operatlng margln {soclal houslnz lettings) Z6.4% {2023: 21.9%) SPBM benchmark 2023: 13.50% This figure is the same as Operatin8 margin loveralll as all of the companrfs income is from social housing lettings.

Chartford Housing Limited REPORT OF THE DIREcfoRS ICONTINUEDI "EBITDA MRI 143A %12023: 192.1%) SPBM benchmark 2023: 177% This figure shows interest cover and is a key indicator for liquldity and Investment capacity. The figures exclude thè effects of capital grant recognition and any impairment. It measures the level of surplus generated compared to interest payable. The overall level 15 reflective of being a relatively new and strongly developing association, takin8 on a debt burden. Most small providers in the SP8M benchmark group are not developlng to the same extent. Develo 'New supply (soclall 16 12023.. 32) SPBM benchmark 2023: 0 Un115 developed as a % of owned Isoclal) 3.2% 12013.. 6.7%) SP8M benchmark 2023: 0 •New supply Inon-so¢i¥l} We have no non4oclal housln8 $0 thls metr1¢ does not ipply to us. As a relatively small provider these 5tat15tiC5 are disproportionately affected by small differences in the number of completion5 in each year. The company continues to develop at a sustainable pace. Most small providers In the SPBM benchmarking group are noi developin8 at all, rendering sector comparators fairly meaningless. *Gearln8 64.5% (2023: 64.9%) SPBM benchmark 2023: 14.19% As a provider that Was set up primarily to develop new property, the 8earin8 is high compared to the sector benchmark. Loan flnance is provideé by the parent of the Group, Horton Housin8 Association, which is committed to supporting the company's development plans. Cumulatlve Homes England SHG Invesled £9,061,298 {2023: £8,347,598) This reflects the amount of development activity that has occurred since the company started developing. It has been increo51ng Significantly as the company has been actively developing Utilising a number of SHG funding Streams. Outcomes dellvered Customer satlsfjctlon 95.0% 12023: 97.0%) SPBM benchmark 2023: 89.0% These flgures relate to the tenants of propertles where Chartford Housing is the landlord. The properties are owned or leased by the Company for use by people that Horton Housing Association or Horton Housing Support Limited are working wlth. Our satisfaction Survey is carried out towards the erbd of each calendar year and there were 120 respondents this year12023: 1691 and onlv tenant5 were surveyed. The methodology and questions asked thi5 year were extended and amended to reflect the newly introduced Tenant Satisfaction Measures. However the overall level of satisfactlon measure is comparable to prior yearf5 data where the question asked in a survey to all tenant5 and people supported by Horton was about satlsfaction with the performance 'as landlord"

Chartford Houslng Llmlted REPORT OF THE DIRECTORS (CONTINUED) *Relnvestment 5.2% {2023: 17.0%} SPBM benchmark 2023.. 3.80% This metrlc looks at the investment in property as a percentage of the value of total properties held. Unlike most small providers, the company is actively developing, althou8h actual spend in 2023/24 ha5 been much lower than prior years, with slightly less activity than prior years. Lettable day5 available from owned property 77,260 {2023: 70,7541 Actual number of days let as a % of lett•ble days 96.0% 12023: 95.2%) These two internal measures show the effects of the company's activity on the supply and availability of social housin8, and also ensures that the company's housin8 that it is delivering is in demand. These demonstrate that the company is meeting Its 8uslness Plan objectives, and deliverin8 them effectively and efficiently. rtlve Asset Mono em •Return on capltal employed 4.3% 12013: 4.4%) SPBM benchrnark 2023: 2.00% This metric compares the operating surplus to total assets le55 current Ilabllitles. Because the company is small and takes Social Hou51ng Grant to income when performance related conditions are met there are likely to be lar8e varlatlons dependent on how many developments are completed In a particular financial year. emtln clencl •Headllne soclal housln8 Cost per unlt £2,871 {2023: £1,757) SP8M benchmark 2023.. £5,495 Underlying cost per unit has h15torically been relatively low, mainly because all the developments and refurbishment5 are new 51nce operations began and there has therefore been relatlvely Ilttle maintenance cost. In the current year we have been investing in energy efliciency improvements whlch has Significantly increased costs as expected, even though we have recelved some grant funding to partly offset this. The management agreements with managlng agents mean that day-to. day maintenance and Service charge costs are the responsibility of the agent. Thus the metric stlll remains relattvely low. Management fees pald per unlt of stock (owned •nd leased) £449 pa 12023: £274 pal This fee has Increased si8nificantly following a re-evaluation of the 2023 charge between Horton Housing Association and Chartford Hou51ng Llmlted. and a subsequent 73% Increase in 2024. Total cost of dellvery of each lettable day £Z5.50 12023: £19.66) These two internal measures demonstrate flrstly the economies of scale benefits as the company increases its Stock, and secondly that it's overall cost of delivery of every lettable day is being controlled. The company is able to take advantage of being a part of the Horton Houslng Group. The cost of delivery has increased Significantly in the year due to the feasses5ment of management fees from withln the Group. the inclusion of management charges on the new Traveller Site near York, and a significant spend on ener8y improvement works in the year, but are stlll relatively low.

Chartford Housing Llmlted REPORT OF THE DIRECTORS (CONTINUEDI The company beneflts from the resources of the Group as shown in the low costs noted above, and in particular, it has benefitted from.. Low borrowing costs which have been passed on in the inter-company loan agreements to Chartford Housing Limited. An annually fixed inter-company management charge with the Group which provide5 all the administrative resources required to operate the company. Management agreements with managing agents that are members of the Group that pass the responsibility for day-to-day repairs and most housing management functions to the managlng agents. Management agreements wlth managing agents that are members of the Group, that Pa55es the risk of rent voids and bad debt losses to the mana8in8 agents. VFM Improvement Plans Every year targets are set within the company's Bu5ine55 Plan and also as specific actions wlthin the VFM StroteBY and Its attached Action Plan. We seek to Identify and improve In areas that we think can be Improved. Particular targets in the most recently revised VFM Action Plan include.. Continuing our proBramme of acquisition and refurbishment of properties; Assesslng and developin8 plans for assets that are currently underutilised or awaltlng decisions,. Developlng the use and reF)orting of Tenant Satlsfactlon Measures: Developing detaSled plans for brln8lng all our properties up to EPC C minlmum by 2030 and to achieve Zero Carbon by 2050; Some specific actions in respect of assessln8 VFM of certain activitles and the procurement of certain services. Evidence of Efflclency Galns In 2023124 VFM galns may be financlal or qualitatlve and we enter data on our VFM Re8lster to tabulate and quontify the 8ains made. The VFM Re8i5ter relates to the Horton Housing Group as a whole. If the Group as a whole makes gains then this assists in keepin8 down the inter-company charges made to Chartford Housing Limited. We have selected examples of some of the effsciencie5 that have been made includln8 those that have particular relevance to Chartford Housing Limited:. We continue to increase the fuel efficiency of our new developments, through use of enhanced insulation, LED lighting, solar panels and considering the use of heat pumps where appropriate. We successfully bid for grant support from the Social Housing Decarbonisation Fund Wave I and Wave 2, as well as the West Yorkshire Mayorfs fund. to improve the energy efficiency rating of our properties through improved insulation, 501ar panels and other measures. Thls grant support has amounted to in excess of £250k in the year and improved the energv efficiency of Some 27 properties. This work, and related grant fundin& will contlnue in 2024125.

Chartford Houslng Limited REPORT OF THE DIREcfoRS (CONTINUED) We have outsourced our main ICT systems and Se￿er$, which are now mostly hosted by third parties. This has improved operational efficiency. reliability and security whilst also making ongoing cost savings. We are renewlng our phone and internet seNlces at many of our sites, with increased use of internet services and consequently decreased operating costs. This programme of renewal wlll continue to be rolled out over the Coming years. We have re-provlded our printer5 and photocopiers across the company, leadin8 to improved operational 5tabillty and more 5ecurlty. We have renewed our mobile phone provlslon, which has led to slgnificant cost savlngs. We have sourced additional support forour Asset Management team to deliver refufblshment work and ener8y improvement work from our partner organlsation, Unity Housing. This has led to more flexibility irs support available, and cost savin85 compared with external recruitment. We retendered 9 electric and gas contracts for renewol in October 2023. This led to an approximate doubling of cost compared with the current contract whlch had been in place since before the Ukraine war. However this was a considerable savln8 on open market variable rates at the time. COMPLIANCE WITH THE GOVERNANCE AND FINANCIAL VIABILITY STANDARD In order to register as a Re8lStered Provider on l October 2015 the company had to demonstrate to the then HCA that it met the Governance and Flnancial Viablllty Standard. The Board assess their compliance with the Standard at least once a year and more often if there are any slgnificant events that might affect compllance. The Board seek assurance that they continue to comply with the Standard via management self-assessment. An updated 2023124 mana8ement self-assessment was completed in eorly 2024. This identified some controls that had sllpped during the 2023124 year due to internal staff re50urce155ues, but an actlon plan was agreed with the Board and all core controls were asse55ed a5 satlsfactorily in place and retr05pecilvely addressed by the date of this report. Board is therefore satisfled that it meets all the requirements of the Standard at the date of thls report. COMPLIANCE WITH OTHER RSH STANDARDS The company also complete5 a full review of Its compliance with RSH Standards every year using the same proce55 as for the Governance and Flnancial Viability Standard. The Board is satisfied that it continues to meet all the requirements of the other RSH Standard5 at the date of this report, other than some aspects of the VFM Standard as noted earlier in this report. STATEMENT OF THE RESPONSIBILITIE5 OF THE DIRECTORS FOR THE FINANCIAL STATEMENTS The Directors Iwho are also the Trvstee5 of the Charltable Company) are responsible for preparing the Directors. report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 10

Chartford Housing Limited

REPORT OF THE DIRECTORS (CONTINUED)

Company law requires the Directors to prepare financial statements for each financial year that give a true and fair view of the state of affairs of the Charitable Company and of the incoming resources and application of resources including the income and expenditure of the company for that period.

In preparing these financial statements the Directors are required to:

The Directors are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Charitable Company and enable it to ensure that the financial statements comply with paragraph 16 of Schedule 1 to the Housing Act 1996 (to 3i[5t ] March 2011) and The Housing and Regeneration Act 2008, (from p[t ] April 2011) and the Accounting Direction for Social Housing in England from April 2015 and the Companies Act 2006.

They are also responsible for safeguarding the assets of the Charitable Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

At the date of making this report each of the company's Directors, as set out on page 2, confirm the following:

This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

The Report of the Directors was approved on 13 September 2024 and signed on its behalf by:

Nicholas Warden

Chair

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Chartford Housing Limited INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CHARTFORD HOUSING LIMITED Opinion We have audited the financial statements of Chartford Housing Limited (the 'charitable companv") for the year ended 31 March 2024 which comprise the statement of COmp￿henslve income, Statement of financial position, statement of changes in reserves, statement of cash flow5 and notes to the financial statements, including signiflcant accounting pollcies. The financlol reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standard5, including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Iunited Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: give a true and fair view of the state of the charitable companf s affairs as at 31 March 2024 and of the incomin8 re50urce5 and appllcation of resources for the year then ended,. have been properly prepared in accordance with United KSn8dom Generally Accepted Accounting Practice; and have been prepared In accordance with the requirements of the Companies Act 21X)6 the Housin8 and Regeneration Act 2008 and the Accountln8 Direction for Private Re81Stered Providers of Social Housing 2022. Oasls for oplnlon We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applScable law. Our responsibilities under those standards are further described in the Auditorfs responsibilities for the audit of the financial Statements section of our report. We are Independent of the group In accordance with the ethical requirements that are relevant to our audit of the flnancial statement5 in the UK, Including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibS1itles in accordance with these requirements. We believe that the audlt evidence we have obtalned is sufficient and appropriate to provide a b0515 for our opinion. Conclu51ons relat5n8 to 8oln8 concern In auditing the flnancial statement5, we have concluded that the Board's use of the 80in8 concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doljbt on the charitable company's ability to continue as a golng concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Board with respect to going concern are described in the relevant sections of this report. Other information The Board are responsible for the other Information contained within the annual report. The other information comprises the information included in the annual report, other than the financlal statements and our auditor's report thereon. Our opinion on the financial statement5 doe5 llot cover 12

Chartford Housing Limlted INDEPENDENT AUDITO￿5 REPORT TO THE MEMBERS OF CHARTFORD HOUSING LIMITED ICONTINUED) the other informatlon and, except to the extent otherwise explicitly stated in our report, we do not express any form of a55urance conclusion thereon. Our responsibillty Is to read the other Information and, in doin8 so, consider whether the other information is materially inconslstent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencles or apparent material misstatement5, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this Other information, we are required to report that fact. We have nothing to report In this regard. OpSnlons on other matters prescrlbed by the Companles Act 2006 In our opinion based on the work undertaken In the course of our audlt the informatlon glven In the Board's report, which includes the report of the dlrectors prepared for the purposes of company law, for the financlal year for which the finantlal statements are prepared is conslstent wlth the financlal statements; and the report of the directors included within the Board's report have been prepared in ccordance with appllcable legal requirements, Matters on whlch we are requlred to report by exceptlon In light of the knowledge and understandlng of the charitable company and their envlronment obtained in the course of the audit. we have not Sdentified material misstatements In the report of the directors included within the Board's report. We have nothlng to report In respect of the followln8 matters In relation to which the Companles Act 2006 or the Housing and Regeneration Act 2008 requires us to report to you If, In our opinion: adequate accounting ￿COrdS have not been kept.. or the financlal statements are not In agreement with the accounting record5 and returns; or certain disclosures of Board's remuneration specified by law are not made,. or we have noi received all the information and explanations we require for our audit. Re5ponslbllltles of Board A5 explained more fully in the Board's responsibilitie5 Statement set out on pages 10- 11, the Board (who are also the directors of the charitable company for the purposes of company lawl are responsible for the preparation of the financial statement5 and for being satisfied that they give a true and fair view, and for such internal control as the Board determine is necessary to enable the preparation of flnancial statements that are free from material mi55tatement, whether due lo fraud or error. In preparing the financial statement5, the Board are responsible for assessing the charitable company's ability to continue a5 a going concern, disclosing, as applicable, matters related to going 13

Chartford Housln8 Limited INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CNARTFORD HOUSING LIMITED {CONTINUEDI concern and uslng the going concern basis of accounting unless the Board either intend to liquidate the charitable company or to cease operations, or have no realistlc alternative but to do so. Audltorfs responslbllltles for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial Statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditorfs report that includes our opinlon. Reasonable assurance is a high level of assurance, but Is not a guarantee that an audit conducted in accordance wlth ISAS IUKI will always detect a materlal misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to Influellce the economic decisions of users taken on the basis of these financial statement5. Irregularlties, includinB fraud, are instances of non-compliance with laws and re8ulations. We des18n procedures in line with our responsibilities, outlined above, to detect material mi55tatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detectln8 irregularities, Includin8 fraud is detaSled below.. We Identified and assessed the rlsks of material misstatement of the financial statements from irregularities, whether due to fraud or error, and discussed these between our audit team members. We then designed and performed audit procedure5 responsive to those risks, Including obtalning audit evidence sufficient and appropriate to provide a basis for our opinion. We obtained an understanding of the legal and regulatory frameworks within which the charity operates, focu51ng on those laws and regulations that have a direct effect on the determination of material amounts and di5c105ures in the financlal statements such as the Housing and Regeneration Act 2008 and other laws and regulations application to a registered Social housin8 provider In England together wlth the Hovsln8 SORP. We assessed the requlred compliance with these laws and regulations as part of our audlt procedure5 on the related financlal statements items. In addition, we considered provisSons of other laws and regulations that do not have a direct effect on the financial Statements but compliance with which might be fundamental to the charity's ability to operate or to avoid a material penalty. We a150 considered the opportunities and incentives that may exist within the charity for fraud. The laws and reBulations we considered in this context for the UK operations were requirements imposed by the Regulator of Social Housing, health and safety, taxation and employment legislation. AuditinB Standards limit the required audit procedures to identlfy non- compliance with these laws and regulations to enquiry of the Directors and other management and inspection of re8ulatory and le8al correspondence, if any. We identified the greatest risk of material impact on the financial Statements from irregularitles, including fraud, to be within the timing of recognition of income and the override of controls by mana8ement. Our audit procedures to respond to these risks Included er)quiries of management, nternal audit and the Audit and Risk Committee about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, reviewing accounting estimates for biases, reviewinB regulatory correspondence. designing audit procedures over the tlming of income and readlng minutes of meetings of those char8ed with 8overnance. Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properlv planned and performed our audit in accordance with auditing standards. In addition, as with any 14

Ch•rtford Hous1￿ Umlted INDEPENDENT AUDITOR'5 REPORT TO THE MEMBERS OF CHARTFORD HOUSING LIMITED (CONTINUED) audit, there remained a higher risk of non-detection of irregularities, as these may invofve colluslon, forgery. intentional omissions, misrepresentation5. or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expeded to detect non-compliance with all laws and re8ulation5. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reportin8 Council's website at.. www.frc.or auditorsres onsibilities. This description forms part of our auditorfs report. Use of our report Thi5 report is made solely to the charitable companV5 rnembers, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we mlght state to the charitable company's members those matters we are required to State to them in an auditorfs report and for no other purpose, To the fullest extent permltted by law, we do not accept or assume responsibility to anyone other than the charltable company and the charitable company's members as a bodyi for our audit work, for th15 report. or for the oplnlons we have formed. Vicky Szulist Senior Statutory Auditor For and on behalf of Crowe U.K. LLP Statutory Auditor Manchester 16th September 2024 15

Chartford Houslng Umlted STATEMENT OF COMPREHENSIVE INCOME for the year ended 31 March 2024 2024 2023 Restated 3,518,130 12,786,785) Turnover Operating expenditure 3,059,564 12.251,1441 Operatlng surplus 808.420 731,345 Interest and financlng costs 1488,1541 {388,8291 Surplus for the year 13 320,266 342,516 Revaluation surplu5 13 317,974 96,632 Total compr¢hensl¥e Income for the year 638,240 439,148 The notes on paBe5 20 to 32 form part of these financlal statements. All of the actlvltles of the company are classed as contlnulng. All reco8nised gains and losses are Included In the Statement of comprehensive Income. 16

Chartford Housing Llmlted srATEMENT OF FINANCIAL POSITION at 31 March 2024 1024 2023 Reststed Tangible flxed assets Housing properties 18,S66,446 18.087,685 18,566,446 18,087,685 Current assets Debtors Cash and cash equlvalents 1,245,065 124,986 603,271 39,617 1.370,051 642,888 Credltors: amounts fallln8 due wlthln one year io 11,346,325) 11,078,641) Net current assetsl{Ilabllltlesl 23,726 1435,7531 Total 155ets less current11?bllltles 18,590,172 17,651,932 Credltors: amounts falllni due after morn thon one year li 112,IXO,OXII 111.7¢X$,I￿0j Total net assets 6,590,172 5,951,932 Capbtsl and reserves Non-equity share capital Revenue re5erve5 Revaluation reserve 13 13 5,378,338 1,211,834 5,037,163 914,769 Total reserves 6,590,172 5,951,932 The notes on pa8e5 20 to 32 form part of these flnancial statements. These accounts have been prepared In accordance with the provisions applicable to companies subject to the small companies, regime. The financlal statements were approved by the Board of D1￿ctOrS and authorised for issue on 13 Septewber 2024 and are signed on Its behalf by.. Nicholas Warden Director James Ho8ar(h Director 17

Chartlord Housing Umlted STATEMENT OF CHANGES IN RESERVES for the year ended 31 March 2024 Note Share Unrestrlcted apltsl fund Total Restated Restated 5,512.784 5,512,784 Balance at 31 March 2022 Year ended 31 Mar¢h 2023 Surplu5 from statement of comprehensive Income 439,148 439,148 8ilance at 31 March 2023 5,951,932 5,951,932 Year ended 31 March 2024 Surplus from statement of comprehensive income 638,240 638,240 Balance at 31 March 2024 6,590,172 6,590,172 The notes on pages 20 to 32 form part of these financlal statements, 18

Ch•rtford Houslng Llmlted STATEMENT OF CASH FLOWS forthe year ended 31 March 2024 Note 2024 2023 Net cash Inflow from oper•tln8 activities 16 1,247,201 2,304,224 Cash flow from investing actlvitles Purchase and construction of housing fixed assets 1973,6781 13,082,158) Cash flow from flnan¢ln8 •rtivlties New Loans Loan Repayments Interest pald 3CI),CQO 1,000,000 1488,1541 1388,8291 1188,IS41 611,171 Net change In cash and Cash equlvJlents Sn the perlod 85,369 1166,7631 Cash and cash equlvalent$ at the beglnnlng of the perlod 39,617 206,380 Cash and cash equl¥alents at the end of the perlod 124,986 39,617 MOVEMENTS IN NET DEBT l Aprll Z023 Cashflows 31 March 2024 Loans due after more than one year 11,71Ki,000 300,1￿ 12,000,CQO Cash 139,6171 185.3691 1124,9861 Net Debt 11,660,383 214,631 11,875,014 The notes on pages 20 to 32 form part of these financial Statements 19

Chartford Housing Llmlted NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2024 LEGAL STATUS The company is registered with the Regulator of Social Housing IRSHI as a housing provider, a regiSte￿d Charity and registered under the Companies Act 2(Xl6. 2 ACCOUNTING POLICIES Basls of accountlng These financial Statements have been prepared in accordance with the Statement of Recommended Practice.. Accounting by Registered Social Housin8 Providers 20181'Housin8 SORP"), the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102 section IA Small Entities) and comply with the Atcounting Direction for Social Housing in England 2022. Chartford Housing Llmited meets the definition of a public benefit entity under FRS 102. A¢countin8 Convention The flnancial statement5 are prepared underthe historical cost convention, modified by the revaluation of land and buildin8s. The accountin8 pollcie5 have been applled con515tently (except a5 Otherwise statedl. The financial statements are presented in sterling. Golng concern The financial statements have been prepared on a 8oin8 concern basis. The Company has significant reserves and a 5atlsfactory level of future income. The Company is flnanced by a loan from its parent entity, Horton Houslng Assoclatlon, and there is sufficient further headroom In thi5 loan faclllty, and no requirement for security to be provided, such that financin8 is effectively immediately available for drawdown from the parent should it be needed. Turnover and revenue recognition Turnover comprises rental income recelvable In the year, management charges for seNices supplied In the year and grants and donations received in the year. Rental Income Is recognlsed from the poSnt when properties under development reach practical completion or otherwise become available for letting. Interest P￿able Interest is allocated at a constant rate on the carrylng amount over the period of the borrowin8. Interest payable 15 charged to the income and expenditure account in the year. Tax ststus The company has charitable status, and Is therefore not sub5ect to taxation on surpluses arising from Its charitable activities. Housing propertles HoLfjSin8 properties are principally propertie5 available for rent and are stated at valuation. The initial cost includes the cost of acquiring land and buildings, development costs. and expenditure incurred in respect of improvements. 20

Chartford Houslng Umited NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2024 ACCOUNTING POLICIES (continued) Works to existing properties, which replace a component that has been treated separately for depreciation purposes, along with those works that result in an increase in net rental income over the lives of the properties, thereby enhancing the economic benefits of the assets, are capitalised as improvements. Housing properties under constructSon are transferred to houslng properties held for lettln8 on the date of practical completion. Depreclatlon of houslng propertles Freehold land Is not depreciated. Depreciation Is charged to write down the net book value of housin8 propertles to thelr estimated residual value, on a straight-line basis, over their estimated useful economic lives in the bljsiness. Major components are treated as separable 355et5 and depreciated over the shorter of thelr expected useful economic live5 or the lives of the structure to which they relate, over the followlng period5: Land KStchen Bathroom Boiler Internal doors Windows External doors Electrlcal Central heating radiators Roof Strurture Not Depreciated 15 years 15 years 15 years 20 years 30 years 30 years 30 years 30 years 40 years 40 years Revaluatlon ValLsatlons are carried out by an independent valuer on completion of developments and at regular interyals thereafter. Properties are valued on the basis of existing use value in accordance with the RICS Appraisal and Valuation Manual. If the valuatlon Is less than the carrying value of the property, an impaimient charge wlll result. The impairment 15 charged to operating surplus for the year, unle55 It 15 reversing a previous upward revaluatlon of the property. In that case the impairment will be char8ed to ￿ValuatiOn reserve (to the extent of previous upward revaluations) wlth any balance being charged to operating surplus. Upward valuations are credited to revaluotion reserve, unle55 they are reversing a previously reco8ni5ed impalrment when any reversal of the prior impairment is credited to operating surplus. All valuation movements are only reflected in the land and structure elements of the relevant property. 21

Chartford Hou51ng Llmlted NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2024 ACCOUNTING POLICIES Icontlnued} Impalrment All housing properties will be reviewed for impairment by the Board at each year end, to consider if there is an indication that impairment may have occurred. Where there 15 evidence of impairment, fixed assets are written down to the recoverable amount. Any such write down is charged to the operatin8 surplus for the year. Flnanclal Instruments The company only has financial a55ets and financial liabllities of a kind that qualify as basic financlal instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. Soclal Housin8 Grant Soclal Housing Grants ISHGI are receivable from Home5 England, and are utillsed to fund an element of the capital costs of housin8 properties. SHG is recognised usin8 the performance model under the Housing SORP 2018, and reco8nlsed as revenue when performanctrrelated conditions are met. Any 8rants that do not have specific performance-related conditions Imposed are recognised as revenue when the grant proceeds are received or receivable. SHG due from Homes England or recelved In advance Is included as a current asset or Ilabllity. Where, following the sale of a property, SHG become5 repayable, to the extent it is not subject to abatement, it is included 05 a current liability until it is repald. SHG Is sub-ordlnated In respect of loans by agreement with Homes En8land. Government 8rants released on sale of a property may be repayable (to the extent that they are not subject to abatement) but are normally available to be recycled and are credited to a Recycled Capital Grant Fund and included in the Statement of financial position in creditors. Other grants Other grant5 are recelvable from local authorities and other organisalions. Capital 8rants are reco8nlsed as revenue when any performance-related conditions are met, in accordance with the requlrements of the performance model under the Housing SORP 2018. Grant5 in respect of revenue expenditure are credited to the income and expenditure account In the same period as the expenditure to which they relate. Planned repalrs (major repalrs I cyclical maintenance) Major repairs and cyclical maintenance are charged in the Income and Expenditure Account, except to the extent that major repair5 result in an increase in net rental income, reduced future maintenance costs or a significant e)(tension to the life of the property in which case the cost is capitali5ed. Provision for the cost of major repairs and cyclical maintenance is only made where a legally binding obligation to carry out the work exists at the balance Sheet date and the work has actually started or a liability incurred in respect thereof before that date. 22

Chartford Houslng Llmlted NOTES TO THE FINANCIAL sfATEMENTS for the year ended 31 Marth 2024 ACCOUNTING POLICIES lcontinuedl Debtors Trade and other debtors are recognlsed at the settlement amount due. Prepayments are valued at the amount prepaid. Creditors and Provlslons Creditors and provisions are recognised where the company has a present obllgatlon resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obllgatlon can be measured or estimated rellably. Credltors and provisions are normally recogn15ed at their settlement amount after allowing for any trade discounts due. Key Jud8•rnents and Estlrnates The compan￿5 key accounting judgements and estimates relate to the valuatlon of the property portfolio and the depreclation rate5 applied to tangible flxed assets as explained earlier in the note. 23

Chartford HouslnE Llmlted NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2024 3 TURNOVER. OPERATING COSTS AND OPERATING SURPiUS 2024 2023 Operatln8 Operatlng costs surplu5 Operatlng Operatlng costs surplus Turnover Tumover Restated Restated Socl•l hou51ng lettin85 and management tharyes 3,059,564 2,251,144 808,420 3,518,130 2,786,785 731,345 Supported Housln8 Total 2024 Totsl 2023 Restated Rent recelvable net of Identifiable service charges Management charges Government Grants taken to income Other Income 1,287,815 1,287,815 967,585 236,453 236,453 224,814 1,533,955 1.533,955 2,289,481 1.341 1,341 36,250 Turnover from soclal houslng lettln8S Expendlture on soclal houslni lettlngs Manogement costs Planned maintenance an(i energy efflclency works Depreciation of housing properties & other asset5 Write back of prior impairment Impairment of housing propertles 3.059,564 3.059,564 3,518,130 1,135,218 1,135,218 303,035 303,035 604,593 604,593 1212,7141 1212,7141 421,012 421,012 1,435,686 834,526 516,573 Operatlng expendlture on 50clal housln8 lettln8S 2,251,144 2,251,144 2,786,785 Operatlns surplu5 on soclal houslnz lettln 808,420 808,420 731,345 Vold losses 24.140 24,140 1,41X) 24

Chartford Housing Limited NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2024 ACCOMMODATION 2024 No. 2023 No. Managed by Agents1sUPPOrted housing accommodat5onl'. 234 218 The supported housing accommodation also includes 4 flat512023= 41 for use by agents in furtherance of the performance of thelr dutles. In addltlon to the above, the company acted as landlord for 24712023: 2371 units of sUPPOrted housing accommodation under short-term leases from Horton Housing Association, and 20 12023.. 201 unlts of supported housing accommodation under a short-term lease from another Re8lStered Provlder. Unlts under development There was l unit12023: 111 purchased, where construction or refurblshment was not yet complete, at the year-end. At the end of the year, the classes ol accommodatlon are analysed as follows.. 2024 No. 2023 No, Supported houslng accommodatlon: Self-contained flats Houses Traveller Pitches 147 73 14 147 57 14 234 218 OPERATING SURPLV5 The operating surplus is arrlved at after charglng.. 2024 2023 Restated 1,952,259 Dep￿cIatIOn l impairment of housing properties Wrlle back of prior impalrment AudStors' remuneration for audit servlces 1,025,605 1212,7141 7,928 7,550 INTEREST PAYABLE AND SIMILAR CHARGES 2024 Z023 Interest on group loan5 488,154 388,829 25

Chartford HousSn8 Llmlted NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2024 EMPLOYEES The company doe5 not directly employ any stsff and no Directors. remuneration or key management personnel remuneration Is included within these financial statements. All staff resources utilised by the company are employed by the parent companyi Horton Housing Association IHHAI, and the costs of these staff are Included in the charges from HHA a5 diKlosed in Note 20 to these accounts. TANG181E FIXED ASSETS- HOUSING PROPERTIES ouslng propertle5 held for lettln8 Housln properties under construrtlon Total Cost/Valuatlon At l April 2023 Prior Year Adjustment At l April 2023 Restated Additions Transfers Impairment Wrlte back of prlor impairment Revaluatlon 17,905,551 466,343 18,371,894 39,728 2,022,074 1421,0121 212,714 223,132 1,222,885 19,128,436 466,343 1,222,885 19,594,779 933,950 973,678 12,022.0741 1421,0121 212,714 223,132 At 31 March 2024 20,448,530 134,761 20,583,291 Depre¢l•tlon At l April 2023 Prlor Year Adjustment 1,052,226 454,868 1,052,226 454,868 At l Aprll 2023 Re5taled Char8ed in year Revaluatlon At 31 March 2024 1,507,094 604,593 194,8421 2,016.845 1,507,094 604,593 194,8421 2,016,845 Depreclated cost At 31 March 2024 18,431,685 16,864,800 134,761 18,566,446 1,222,885 18,087,685 At 31 March 2023 The properties held for letting are subject to regular valuations at Exlstlng Use Value by Carter Towler LLP. In the opinion of the Directors there is no material difference between the value of land and buildin85 at 31 March 2024 and the latest valuations on those properties carried out in September 2021, September 2022 and November 2023. Certain properties within the Companws Balance Sheet are used as security for the parent company, Horton Housing Association'5, lending from Triodos bank. There is therefore a legal charge on these properties. The historic cost of propertie5 held for letting is E22,302,02512023 £20,240,521). 26

Chartford Housing Limited NOTES TO THE FINANCIAL STATEMENTS tor the year ended 31 March 2024 DEBTORS 2024 202a Government grants receivable Other debtors Prepayments and accrued income Amounts due from Group companies 248,459 127,103 449 3,900 992,023 1,245,065 475,719 603.271 io CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade credltor5 Accruals and deferred income Amounts due to Group companies 165,2Cil 92.232 95,787 401,225 1,085,338 585.184 1,346,325 1,078,641 Included above Is deferred Income of £0 relatlng to government Brants12023.' £323,OiYJl Balance at 31 March 2023 Amount received in the year Amount released to income In the year Balance at 31 March 2024 323,000 527,000 li CREDITORS: AMOUNTS FALLING DUE AFfER MORE THAN ONE YEAR 2024 2023 Debt Inote 141 12 CIJ WO 11700 CX)O 12 DEBT ANALY515 2024 2023 Due within one year Due after more than one year 12,CQ),000 11,700,(XJO 27

Chartlord Houslnz Limited NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2024 Debt Is repayable as follows.. Debt within one year Between one and two years Between two and five years After five years I2,￿0,000 11,700,1)Xl 12,CQO,000 11,700,(XXI The Inter-company loan is from the parent company, Horton Houslng Association. The loan is repayable on 30 June 2027. EIOM of the loan Is charged at a fixed interest rate of 3.54% per annum, with amounts in excess of £IOm at an Interest rate of BOE base rate plus a margin of 2.2%, subjert to a minimum of 2.3%. The loan is unsecured. 13 RESERVES General Re$erve 2023 Openlng funds at l Aprll 2023 Prlor Year Adjustment At l Aprll 2023 Restated Surplu5 for the financial year Transfer from Revaluatlon Reserve Closlng funds at 31 March 2024 5,027,413 9,750 5,037,163 320,266 20,909 5,378,338 Revaluatlon Reserve Openlng balance at l April 2023 Prior Year Adjustment At l April 2023 Restated Revaluatlon Transfer to General Reserve Closing balance at 31 March 2024 913,1)44 1,725 914,769 317,974 120,9091 1,211,834 The transfer from revaluatlon reserve to general reserve represents the depreciation charge associated with revaluations previously recognlsed in the revaluation reserve. 14 FINANCIAL INSTRUMENTS 2024 2023 Carrying amount of financial assets measured at amortised c05t 1,241,165 602,822 Carrying amount of financial liabilities measured at amortlsed cost 13,346,325 12,455,641 28

Chartford Housinz Limited NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2024 15 FINANCIAL COMMITMENTS Expenditure commitments are as follow5.. 2024 2023 Capltal expendlture Expenditure contracted for but not provided in the account5 145,807 16 CASH GENERATED FROM OPERATING AcfiviTIES 2024 2023 Restated Cash flow from operatlng actlvltles Operatin8 surplus Depreclatlon and impairment of housing fixed assets Write back of prlor impairment Decreaselllncreasel In debtors Increa5elldecrea5el in creditors 808,420 1,025,605 1212,7141 1641,7941 267,684 731,345 1,952,259 122,8201 1356,5601 Net cash Inflow from operatlnl actlvltles 1,247.201 2,304,224 17 CONTINGENT ASSETSILIABILITIES The company had no contlngent assets or contingent liabilities at 31 March 202412023.. Enill. 18 ULTIMATE PARENT UNDERTAKING AND CONTROL The company Is Ilmited by guarantee and is controlled by Its sole member, Horton Housing Assoclatlon. The company is consolidated Into the financial statements of Horton Housing A550ciation. The consolidated financlal statements can be obtained from Chartford House, 54 Llttle Horton Lane, Bradford, 8D5 OBS. Horton Housing Association is regiSte￿d under the Co-operative and Community Benefit Societie5 Act 2014125057RI and provides supported houslng and related support to vulnerable people who are in need of such a55i5tance. 19 POST BALANCE SHEET EVENTS There were no post balance sheet events to report. 20 RELATED PARTIES During the year expenses of £11812023 - £541 were pald to Directors The company works closely wlth the other Horton Housing Group companies. It acts as landlord, by way of short-term leases, for properties owned or leased by Horton Housing Association IHHAI. 29

Ch•rtford Hou$ing Limited NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2024 and then appoints HHA or Horton Housing Support Ltd IHHSI to manage them on a day-to-day basis. Leases and management agreements are in place to regulate these transactions and the company charges HHA Hnd HHS a net fee per week for this seThice. HHA supplies the staff and support servlces to the company and receives a management fee for those seryices. Chartford Housing also owns and leases property directly* and It contracts the day-to-day housing management of these properties to HHA or HHS as appropriate. Chartford Housing also receives revenue grant fundin8 for housillg 5UPPQrt services. which it contracts HHA to dellver on its behalf. HHA receives a fee for these services. HHA also provides loan fundlng to Chartford Housing to enable it to develop and own properties, Interest is char8ed on these loans. The following is a summary of the amounts recognised and received from the other group companies.. 2024 2023 Fees char8ed to HHA For acting a5 landlord for propertles For use of flats as offlces 18,216 31,054 49,652 14,819 Fee5 charged to HHS For acting as landlord for propeities For use of propertles as offices 138,278 42,500 131,682 28,660 Total related party fee Income 230,048 224,813 Fees from HHA for management and housing support services Fees from HHA for support seThices Interest charged on loan received from HHA 506,539 225,000 488,154 411,581 130,CMJO 388,828 Fees from HHS for management Se￿ICe5 89,049 83,584 Total related party charges 1,308,742 1,013,993 As at 31 March 2024. the followin8 balances were due fromlltol the other Group companies: 2024 2023 Trading Account5.. Horton Housing Associatlon Horton Hpusing Support Ltd 11,085,338) 992,023 1585,1841 475,719 Loans from Horton Housing Association 112.000,CKJOI 111,7C(J,OCKJI

Charttord Housing Limited NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2024 21 PRIOR PERIOD ADJUSTMENT In 2023124 Chartford Housing Limited revised the accounting treatment of land and buildings and commenced accounting for land and properties in accordance with FRS102 and the Housin8 SORP. The prior year comparatives and openin8 balances have been restated. Land and buildings held by Chartford Housing Limited had from acquisition been componentised over their respective estimated life in accordance with the Accounting Policy. However land was included in structure and hence was depreciated. FR5102117.4- 17.81 states that land and buildings should be recognised as separate assets even if they are acquired together. FRS102117.161 states that land has an unlimited useful life and therefore Is not Usually depreclated All properties have now been restated from their acquisition which has affÈcted the depreciation charge. impairments and revaluations in prior periods. Properties were first acquired in Chartford Hou5in8 Limited in 2015116. The effects of these amendments on the primary flnanclal statements of Chartford Housin8 Limited are: ststernent ot FSnanclal Posltlon 8alanc• sh••t Reported In M•rch 2025 Aestatement at March 2023 Restated Balan¢e sheet at Mar¢h 2025 Housin8 Properties 18,076,210 11,475 18,087,685 Current Assets 642,888 642,888 Credltors falling due wlthln one year 11.078,6411 11,078,641) Creditors falling due after more than one year 111.700,0(KII 111.7CK),IJOOI Net A55ets 5,940,457 11,475 5,951,932 Revenue reseThes 5.027,413 9,750 5,037,163 Revaluation reserves 913,044 1,725 914,769 Total Reserves 5,940,457 11,475 5,951,932 Housing propertie5 are now stated in line with FRS102 and the Hou5in8 SORP. This has resulted in a net effect on valuation and depreciation of £11,475. 31

Chartford Housiry Limited NOTES TO THE FINANCIAL STATEMENTS lor the year ended 31 March 2024 The cumulative impact of stating land wlthout depreciation Is an Increase in the revaluatlon reseNe of £1,750. The cumulative impact of restatin8 the land without depreciation is an increase in revenue re5eNes of £9.750. Statement of Cornprehenslve Income and Note 3 to the Accounts Reported 2023 Rertatement 2023 Total 2023 Turnover From Sodal Hou51ng 3,518,130 3.518.130 Expendlture on soclal hou51n¥ lettlngs Management C05tS Planned maintenance and energy efficiency works DeprecSallon of housin8 properties & other a55ets Write back of prlor impairment Impalrment of housing properties 834,526 834,526 520,207 13,6341 516,573 1,440,243 14,5571 1,43S,686 Oper•tln8 expendlture on soclal houslnz lettlnzs 2,794,976 18,1911 2,786.785 Operatlng surplus on soclal housln8 lettlngs 723,154 8,191 731,345 Interest and financlng costs 1388,8291 1388,8291 Surplus for year Revaluation surplus 334,325 120,293 8,191 123,6611 342,516 96,632 Total comprehenslve Incorne for year 454,618 IIS,4701 439,148 Depreciation is now accounted for excluding land. As impairment is deemed to take place 31, March and an asset coming Into use wlll attract depreciation up to 3151 March, the Impalrment charge 15 als0 affected by this change. 32