FCA registration number 9424 (England and Wales)
CARE HOUSING ASSOCIATION
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

CARE HOUSING ASSOCIATION
CONTENTS
Page
Associalion information
Strategic report
Board report
Statement of board's responsibilities
Independent audilols report
9-12
Statement of income and relained eamings
13
Balance sheet
14
Statement of cash flows
15
Noles to the financial statements
16-25
Detailed income and expenditure account
26-28

CARE HOUSING ASSOCIATION
ASSOCIATION INFORMATION
Chaimian
Mr R Parr
Board
Mr R Parr- Chair
Mrs N Khan
MrA Richards
Mrs D Holmes
Mrs V Cooper
Ms D Kelly
(Appointed 13 February 20251
(Appointed 13 February 20251
FCA number
9424
Regulator of Social Housing 4672
registration number
Registered office
Riverside House
Kings Reach Business Park
Yew Street
Stockport
Cheshire
SK4 2HD
Auditor
Xeinadin Audit Limited
Riverside House Kings Reach Business Park
Yew Street
Stockport
Cheshire
United Kingdom
SK4 2HD
Business address
Suite 29
Hardmans Business Centre
New Hall Hey Road
Rawtenslall
Lancashire
UK
BB4 6HH

CARE HOUSING ASSOCIATION
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The board present Ihe strategic report for the year ended 31 March 2025.
Fair review of the business
In the year lo 31 sl March 2025 Care Housing Association can report upon a profitable year wrth relatively healthy
growth. This year Care Housing Association acquired two additional 3 person properties in Hull which has been
funded via financing from Unity Trust, and leased a further five buildingslsites, to be ¢)ccupied by 28 tenants. Of the
34 new tenancies, 14 are single-person accommodation across three sites, with the remaining 20 in 7 shared
houses across 3 sites.
At 31st March 2025 there were 469 units in Care Housing Association, of which 66 were owned. The below ratios
(comparatives have been restated) are monitored on a quarterly basis to ensure key areas within the company are
maintained at the required level deemed appropriale by the board
Gross surplus
Gross surplus stands al 34.04 /) which is a decrease from 37.15 % in 2024. Purchased properties do generate a
higher margin compared lo leased properties, however this percentage is consistenl with historical years prior lo
2024.
Gearing ratio
The gearing ratio was 40.86/0 up from 34.27/0 in 2024. This is within the acceptable range of Care Housing
Association's level of gearing. New debt was taken on in the year for the purchase of Roxburgh Gardens. This ratio
is calculated using capital employed.
Return on capital employed
Return on capital employed is 6.44 % which is a decrease from 7.42°k in 2024. The ratio has decreased due to the
capital employed increasing with the new debt.
Current ratio
The current ratio is 1.98 which has increased from 1.58 in 2024. liquidity is positive in the company even with
significant investment in a wide range of areas.
Structure, govemance and management
On 5th November 2024 Care Housing Association converted and became a Charitable Community Benefit Society,
registered with the Financial Conduct Authority as a Registered Society under the c￿operatIve and Community
Benefit Societies Act 2014. and with the Regulator of Social Housing {RSH) as a social landlord. This brings our
corporate form in line with more commonly found structures within social housing.
Care Housing Association is governed by its rules. Care Housing Association is run by its CEO with strategi
decisions overseen by the board. The board usually consists of six oard members, with no upper limit and a quorate
requirement of two board members.
At each annual general meeting one-third of the board members or, if their number is not three or a multiple of
three, the number nearest lo one-third, musl retire from office. If there is only one board member, he or she musl
retire.
The board members lo retire by rotalion shall be those who have been longest in office since their last appointment.
If any board members became or were appointed diiectors on Ihe same day those lo retire shall (unless they
otherwise agree among themselves) be delemiined by lot.
If a board member is required to retire at an annual general meeting by a provision of the rules the retirement shall
take effect upon the conclusion of the meeting.
The Rules dictate that no board member may stand for re-election more Ihan iwo times and no board member may
remain in office (with or without retirement and re-election} for an aggregate period of more than six) years.
However. if the Board agree that circumstances dictate that il would be beneficial for the Association to exlend this
term, this can be agreed and reviewed annually. No board member can stand for more than 9 years on the Board

CARE HOUSING ASSOCIATION
STRATEGIC REPORT (CONTINUED>
FOR THE YEAR ENDED 31 MARCH 2025
Principal risks and uncertaintles
The supported housing sector has several risks relating lo the capital and revenue funding models deployed. In
terms of capital, there is limited public funding available to enable SLsffiGient investment in new homes to meet the
conlinued and growing demand for services. The Homes England funding regime does not work al scale for
specialised supported housing, which typically requires 70 / + of funding lo ensure providers are able to meet Iheir
regulatory responsibilities around rent setting. Likewise, although NHS England do make Capital ava￿able for
specialist projects, il is a finite amount and meets only a fraction of the housing demand.
Although private capital has historically been more readily available, the market has stagnated over the previous 2-3
years due lo high-profile failings from private capital investors over the previous decade, increasing return
expectations driven by rising interest rates, and a lack of confidence in the lOn￿terM sustainability of Ihe model. In
addition, construction costs have increased significantly higher than inflalion, and so the costs of delivering new
homes, and the subsequenl increasing rent levels, are making it more difficult to deliver homes which are financially
sustainable for housing providers.
Desprte the challenges in delivering new homes, the Association still retains ambitious growth targets. However, this
must be balanced with the need lo undertake sufficient due diligence on all parties (care providers, local authorities,
developers, and contractors} and ensure that our homes relain the appropriate level of quality and sustainability.
April 2024 saw the inlroduction of revised consumer standards and delivered greatef powers for the Regulator of
Social Housing. This has led lo greater expectations around quality. safety, and ensuring tenanls have appropriate
means of engagement with their landlord. Care backs the move to raise standards further but must also be
conscious of the resourcing and practical implications of meeting the standards. Other legislative changes include
the introduction of the Supported Housing (Regulatory Oversight) Act 2023, which will see the inlroduclion of a
licensing system for supported housing providers and will look to introduce minimum standards for care and
support. The Association may need to adapt its practices and ensure that and adaptation is resourced adequately.
The uncertainly around this should cryslalise over the next 12 months.
The Board has undergone a period of Iransilion over the previous 12 months, with two long-standing Board
Members retiring, and new Members joining the Board. Whilst potentially unsettling, the Board have managed
this transition well. The staff team has grown further. with the introduction of key staff in asset management,
operations finance. The increased capacity and experience of the team will help to meet some of the legislative and
regulatory challenges and also equip the Association well to continue to grow in a sustainable way.

CARE HOUSING ASSOCIATION
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Objectives and activities
The Association is formed for the benefit of the community. Its Charitable objects shall be lo carry on for the benefit
of the community..
the business of providing and managing housing, including Social Housing, accommodation and providing
assistance lo help house people and associated facilities. servi￿$ and amenities for poor people or for the relief of
aged, disabled {whelher physically or mentally) or chronically sick people., and
any other charitable object that can be carried out from time to time by a registered society regislered with the
Regulator as a private registered provider of Social Housing.
Plan for future periods
Care Housing Association plans to continue developing new properties to meet our objects over the coming 12
months. Although it is anticipated that most new business will be through leases with third party landlords, a
significant amount of focus has been on ensuring risks associated with lease arrangements are reduced. This has
been achieved through renegotiation of terrns with landlords. However, access lo capital is more limited than in
previous years due to concerns form investors regarding the stability of the market, and rising finance costs which
apply upwards pressures on rent levels. However, the Association does have reserves that will enable investment
into owned properties, should the appropriate opportunities arise.
Non-Financial KPI'S
The Board considers non-financial KPI'S on a quarterly basis. This includes the following information..
Perfonnance Indicator
Emergency Repairs completed within timescales {4 hours)
Non-emergency repairs completed within limescales14-21 days)
Average lime laken to complete white goods repair
Average lime taken to complete routine repair
/0 voids against lolal stock
/0 ASB reports responded to within tImes￿le
/0 Complaints closed within timescale
Actual
97.380/0
92.89 /.
4.60 days
7.94 day5
Target
95/0
95%
10 days
21 days
<12/
100¢/0
100/
100/9
Any underperformance is reported to Board by the CEO.
PerformanGe against repairs KPI'S dropped slighlly below our targets this year for two main reasons..
This was largely due lo difficulty in accessing properties. We are introducing better partnership working and
communication with tenants and care providers to attempt to combat this issue.
We now capture data relating to lenanl satisfaction in different ways, and in line with Ihe requirements of
the Tenants Salisfaclion Measures ITSMS), as prescribed Ihe the Regulator of Social Housing.

CARE HOUSING ASSOCIATION
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
FinanGial KPI'S
Value for money metrics
In addition lo the ialios measured internally. the following ratios have been calculated for Ihe fdlue for ffloney
standard in accordance with the Regulator of Social Housing. Some of these ratios are included above and may be
calculated differentiy as mentioned in the standard.
Reinvestment°A
14.34/0
Care Housing Association has reinvested in freehold properties in 2024-25 and is still growing through the
leasehold market.
New supply delivered Vr*
9.09'/.
Care Housing Association has delivered an additional six units of Specialised Supported Housing with being
freehold purchases.
Gearing •/0 (per VFM report)
7.35 %
Care Housing have taken on additional debt, however the ratio considers cash which has increased therefore ratio
is lower than 2024.
Earnings before interest. tax, depreciation, amortisation, major repairs included IEBITDA MRI) inlerest
517.94°/.
This has remained consistent inline with the companies performance.
Headline social housing cost per unit £
£12,623
Thi5 is a measurement of key social housing costs against the number of units at the year end. The costs are
identified by the Regulator of Social Housing.
Operating margin %
6.04°/
This has remained consistent inline with the companies performance.
Return on capital employed (ROCEI •A (per VFM report}
4.83 0/0
Approved by the Board on 19 September 2025 and signed on its behalf by
pj
Mr R Parr- Chair
Mrs N Khan

BOARD REPORT
CARE HOUSING ASSOCIATION
BOARD REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The board present their annual report and financial slalements for the year ended 31 March 2025.
Principal activities
The principal activity of the associalion is the provision of social housing accommodation.
Board
The board who held office during the year and up to the date of signature of the financial statem￿lS were as
follows..
Mr R Parr- Chair
Mrs N Khan
Mr B Gallagher
Ms G Fazackerley
MrA Richards
Mrs D Holmes
Mrs V Cooper
Ms D Kelly
{Resigned 23 May 2024}
(Resigned 15 August 2024)
(Appointed 13 February 2025)
(Appointed 13 February 20251
Financial instruments
Objectives and policies
The association holds or issues financial instruments in order to achieve three main objectives, being..
i) lo finance its operations.,
ii) to manage its exposure to interest, credit and liquidity risks arising from its operations and from ils sources of
finance.. and
iii) for trading purposes.
In addition various financial instruments (e.g. accounts receivable, accounts payable, accruals and prepayments}
arise directly from the association's operations.
Transactions in financial instruments result in the association assuming or transferring lo another party one or more
of the financial risks described below.
Liquidity risk
Working capilal and liquidity is managed as part of day lo day business routines such as the association has no
significant concentration5 of liquidity risk.
Credit risk
The association has no significant concenlralions of credit risk. Amounts shown in the balance sheet best represent
the maximum Gredit risk exposure in the event other parties fail lo perform their obligations under financial
inslfumenls.

BOARD REPORT
CARE HOUSING ASSOCIATION
BOARD REPORT
FOR THE YEAR ENDED 31 MARCH 2025
Ststsmenl of disclosure to auditor
So far as each board member at the dale of approving ihis report is aware, there is no relevant audit information of
which the association's auditor is unaware. Additionally, the board individually have taken all the necessary steps
thal they ought to have taken as board members in order to make themselves aware of all relevant audit information
and to establish thal the association's auditor is aware of that information.
Approved by the Board on 19 September 2025 and signed on its behalf by
Mr R Parr- Chair
Mrs N Khan

CARE HOUSING ASSOCIATION
STATEMENT OF BOARD'S RESPONSIBILITIES
FOR THE YEAR ENDED 31 MARCH 2025
The board are responsible for preparing the annual report and the financial statements in accordance with
applicable law and regulations.
Co-operative and CommLtnity Benefit Society law requires the board to prepare financial statements for each
financial year. Under those regulations the board have elected to prepare the financial statements in accordanGe
with UK Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and
Republic of Ireland.
The financial statements are required by law lo give a true and fair view of the slate of affairs of the association and
of the income and expenditure of the association for that period.
In preparing these financial statemenls, the board are required to..
select suitable accounting policies and then apply Ihem consislenlly..
make judgements and accounting eslimales that are reasonable and prudenl.,
state whether applicable UK Accounting Standards have been followed, subject to any material departures
disclosed and explained in the financial statements,. and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
association will continue in business.
The board are responsible for keeping pioper books of account thal disclose with reasonable accuracy at
any time the financial position of Ihe association and enable them to ensure that ils financial statements
comply with the Co-operative and Communily Benefit Societies Act 2014 and the Accounting Direction for Private
Registered Providers of Social Housing 2019. It is responsible for such inlemal control as il determines is necessary
to enable Ihe preparation of financial statements that are free from material misstatement, whether due to fraud or
error. and has general responsibility for taking such steps as are reasonably open to it to safeguard the assets of
the association and lo prevent and detect fraud and other irregularities.

CARE HOUSING ASSOCIATION
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF CARE HOUSING ASSOCIATION
Opinion
We have audited the financial statements of Care Housing Association (the 'association') for the year ended 31
March 2025 which comprise the slatement of income and retained earnings, the balance sheet, the slalemenl of
cash flows and noles lo the financial statements, including significant accounting policies. The financial reporting
framework that has been applied in their preparation is applicable law and United Kingdom A¢counting Standards,
including Financial Reporting Slandard 102 The FinanGial Reporting Standard applicable in the UK and Republic ol
Ireland {United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements..
give a true and fair view of the state of the association's affairs as at 31 March 2025 and of its profil for the year
then ended.,
have been properfy prepared in accordance with United Kingdom Generalty AcGepled Accounting Practice, the
Housing and Regeneration Act 2008 and the Accounting Directiortr for Private Registered Providers of Social
Housing 2019., and
have been prepared in accordance with the Co-operative and Community Benefit Societies Act 2014 and the
Housing SORP.. 2018 (Statement of Recommended Practice for registered social housing providers).
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing {UK) IISAS (UK)) and applicable
law. Our responsibilities under those standards are further described in the Auditorfs ￿SponSIbl1111eS for the audit ol
the financial statemenls section of our report. We are independent of the associalion in accordance with the ethical
requirernents that are relevant to our audit of the financial statements in the UK. including the FRC'S Ethical
Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe
that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing ihe financial slalements, we have concluded that the board use of the going concem basis of accounting
in the preparation of the financial statements is appropriate.
Based on the work we have performed. we have not identrfied any malenal uncertainties relating lo evenls or
conditions that, individually or collectively. may casl significant doubl on Ihe association's ability to continue as a
going concern for a period of at least twelve months from when the financial statements are authorised for issuè.
Our responsibilities and the responsibilities of the board with respect lo going concern are described in the relevant
sections of this report.
other inforniation
The other informalion comprises the information included in the annual report other than the financial Statements
and our auditorfs report Ihereon. The board are responsible for the other information contained within Ihè annual
report. Our opinion on the financial statements does not cover the other information and, except lo the extenl
olhernvise explicitly staled in our report, we do not express any form of assurance conclusion thereon. Our
responsibility is to read Ihe other information and, in doing so, consider whether the olher informalion is materially
inconsistenl with the financial statements or our knowledge obtained in the course of the audit, or othetwise appears
lo be materially misslated. If we identify such material inconsistencies or apparent malerial misstatements. we are
required lo determine whether this gives rise to a material misslalemenl in the financial slatemenls Ihemselves. 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 lo report in this re9ard.

CARE HOUSING ASSOCIATION
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF CARE HOUSING ASSOCIATION
Matters on whlch we are required to report by exception
In the light of the knowledge and understanding of the association and ils environment obtained in the course of the
audit. we have not identified material misstatements in the strategic report or the board report.
We have nothing io report in respect of the following matters where we are required by the Co-operative and
Community Benefit Societies Acl 2014 to report to you if, in our opinion..
adequate accounting records have not been kept, or relums adequate for our audit have not been received
from branches not visited by us., or
the financial statements are not in agreement with the accounting records and returns., or
certain disclosures of the boards. remuneration specified by law are not made., or
we have not received all the information and explanations we require for our audit.
the board were nol entitled to prepare the financial slatemenls and the board report in accordance with the
small companies regime and take advantage of the small companies, exemptions in preparing the board report
and from the requirement lo prepare a slralegic report.
Responsibilities of the board
As explained more fully in the board responsibilities statement, the board are responsible for the preparation of the
financial statements and for bein9 satisfied that they give a true and fair view, and for such intemal control as the
baord is necessary to enable the preparation of financial statements that are free from material misstatement.
whether due lo fraud or error. In preparing the financial statements. the directors are responsible for assessing the
association's ability to continue as a going concem, disclosing, as applicable, matters relaled lo going concern and
using the going concern basis of accounting unless the directors either intend lo liquidate the association or to
cease operations, or have no realislic amernative but lo do so.
Auditorfs responsibilities for the audit of the financial statements
Our objectives are lo 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 auditor's report that includes our opinion.
Reasonable assurance is a high level of assurance bul is not a guarantee thal an audit conducted in accordance
with ISAS IUKI will always detect a material misstatement when it exists. m￿sSIaleMentS can arise from fraud or
error and are considered material rf, individually or in the aggregale, they could reasonably be expected lo influence
the economic decisions of users taken on the basis of these financial slatements.
Irregularities, including fraud. are instances of non-compliance with laws and regulations. We design procedures in
line with our responsibilities, outlined above, to detect malerial misslalemenls in respect of irregularities. including
fraud. The extenl to which our procedures are capable of detecting irregularities. including fraud is detailed below.
10-

CARE HOUSING ASSOCIATION
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF CARE HOUSING ASSOCIATION
The extent to which the audit was considered capable of detecting irregularities including fraud
Our approach lo identifying and assessing the risks of material misstatement in respect of irregularities. including
fraud and non-compliance with laws and regulations, was as follows..
the engagement partner ensured that the engagement team collectively had the appropriate competence,
capabilities and skills to idenlify or recognise non-compliance with applicable laws and regulations.,
we identified the laws and regulations applicable to the association through discussions with board members and
other management, and from our commercial knowledge and experience of the computer component manufaduring
and supply sector.,
we focused on specific laws and regulations which we considered may have a direct material effect on the
financial statements or the operations of the association. including Ihe Co-operative and Community Benefit
Societies Act 2014, taxation legislation and data protection, anti-bribery, employment. environmental and health and
safety legislation.,
we assessed the extent of compliance with the laws and regulations identified above through making enquiries of
management and inspecling legal correspondence,. and
identified laws and regulations were communicated within the audit team regularly and the team rernained alert to
instances of non-compliance throughout the audit.
We assessed Ihe susceptibility of the associalion's financial statements to material misstatement, including
obtaining an understanding of how fraud might occur. by..
ma￿.ng enquiries of management as to where they considered there was susceptibilrty lo fraud, their knowledge of
actual, suspected and alleged fraud; and
considering the internal controls in place lo mitigate risks of fraud and non-complian￿ with laws and regulations.
To address the risk offraud through management bias and override of controls, we:
performed analytical procedures lo identify any unusual or unexpected relationships.,
tested journal entries to identify unusual transactions.,
assessed whelherjudgements and assumptions made in determining the accounting
estimates were indicative of potential bia5', and
investigated the rationale behind significant or unusual transactions
11

CARE HOUSING ASSOCIATION
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF CARE HOUSING ASSOCIATION
In response to the risk of irregularrties and non-compliance with laws and regulations, we designed prO￿dureS
which included, but were not limited to..
agreeing financial statement disclosures to underlying supporting documentation."
reading the minutes of meetings of those charged with governance,.
enquiring of management as to actual and potential litigation and claims., and
reviewing correspondence with HMRC. relevant regulators inGluding ihe Health and Safely Executive. and the
association's legal advisors.
There are inherent limitalions in our audit procedures described above. The more removed that laws and
regulations are from financial transactions, the less likely it is that we would become aware of non-compliance.
Auditing slandards also limit the audit procedures required to identify nonvcompliance with laws and regulations to
enquiry of the board and other management and Ihe inspection of regulatory and legal correspondence, if any.
Material fnisstatemenls that arise due to fraud can be harder to detect than those that arise from erroT as they may
involve deliberate concealment or collusion.
A further description of our responsibilities is available on the Financial Reporting Council's website al.. https'.11
www.frc.org.uklauditorsresponsibilities. This description forms part of our auditor'5 report.
Use of our report
This report is made solely lo Ihe association's members, as a body, in accordance wilh the Co-operative and
Community Benefit Societies Act 2014. Our audit work has been undertaken so that we might state to the
association's members those matters we are required lo state to them in an audilor's report and for no other
purpose. To the fullest extent permitted by law, we do not accept or assume responsibilily to anyone other than the
associalion and the association's members as a body, for our audit work, for this report, or for Ihe opinions we have
formed.
Philip Jones BA Hons {FCCA) (Senior Statutory Auditor)
For and on behalf of Xeinadin Audit Limited
Accountants
19 September 2025
Riverside House Kings Reach Business
Park
Yew Street
Stockport
Cheshire
United Kingdom
SK4 2HD
12-

CARE HOUSING ASSOCIATION
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 MARCH 2025
2025
2024
Notes
Turnover
Cost of sales
8,231,915
15,430,015)
7.081.475
{4,450,783}
Gross surplus
2,801.900
2,630,692
Administrative expenses
Other operating income
(2,323,728)
19,412
12,182,970)
25,883
Operating surplus
497.584
473,605
Interest receivable and similar income
Interest payable and similar expenses
646
{124,461}
5.211
(117,319)
Surplusl{deficit) before taxation
373.769
361,497
Tax on surplus
Surplusl{deficitl for the financial year
373,769
361,497
Retained eafnings brought forward
3.477.244
3.115,747
Retained eamings carried forward
3,851.013
3,477,244
The surpluslldeficil} account has been Prepared on the basis that all operations are continuing operalions.
13-

CARE HOUSING ASSOCIATION
BALANCE SHEET
AS AT31 MARCH 2025
2025
2024
Notes
Fixed assets
Tangible assets
8,153,511
7,326,040
Current assets
Debtors
Cash at bank and in hand
10
2,302,623
2,026,911
2,220,424
1,089,148
4.329,534
3,309,572
Creditors". amounts falling due within
one year
11
(2.189.595)
(2.096.068)
Net current assets
2,139,939
1.213,504
Total assets less current liabilities
10.293.450
8,539,544
Creditors". amounts falling due after
more than one year
12
{6,442,4371
{5,062,298}
Net assets
3,851.013
3,477,246
Capltal and reserves
Called up share capital
Income and expendilure reserve
15
3,851.013
3,477,244
Total equity
3,851.013
3,477,246
The financial slalements were approved by the board and auth0ri5ed for issue on 19 September 2025 are
signed on its behalf by..
MrRPa
Chair
Mrs N Khan
FCA Registratlon No. 9424
14-

CARE HOUSING ASSOCIATION
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2025
2025
2024
Notes
Cash flows from operating activities
Cash generated from operations
Inleresl paid
18
1.249,453
(124,461 }
424,773
(117,319}
Net cash inflow from operating activities
1.124,992
307,454
Investlng activities
Purchase of tangible fixed assets
Proceeds from disposal of tangible fixed assets
Interest received
{1.148,610)
126,929
646
(636.423)
5,211
Net cash used in investing activities
(1.021.035}
(631,212)
Financing activities
Proceeds from issue of shares
Loans issued net of repayments
12)
833.805
(21,366)
Net tash generated froml(used inl
rinancing activities
833,803
(21,366)
Net increasel{decrease) in cash and cash
equivalents
937.760
(345,124)
Cash and cash equivalents at beginning of year
1,089,148
1,434,273
Cash and cash equivalents at end of year
2,026,911
1,089,148
15-

CARE HOUSING ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Accounting policies
Association infonnation
The association is registered with the Financial Conduct Aulhority under the C(Foperative and Community
Benefits Societies Act 2014 (registration number 9424} and is re9islered with the Regulalor of Social Housing
as a social housing provider {registralion number 4672).
The address of its registered office is..
Riverside House
Kings Reach Business Park
Yew Street
Stockport
Cheshire
SK4 2HD
The principal place of business is..
Suite 29
Hardmans Business Centre
New Hall Hey Road
Rawtenstall
Lanca5hire
BB4 6HH
1.1 Accounting convention
Summary of significant accounting policies and key accounting estimates
These financial slalements have been prepared in accordance with UK Generally Accepted Accounting
Practice (UK GAAP) including Financial Reporting Slandard 102 (FRS 102), the Cooperative and Community
Benefit Societies Act 2014 and the Housing SORP 2018 Slalemenl of Recommended Piactice for Registered
Social Housing Providers and comply wrth thè Accounting Direction for Private Registered Providers of Social
Housing 2019.
The financial slatemenls have been prepared under the historical cost convention The principal accounting
policies adopted are set out below.
Statement of compliance
These financial slatemenls have been prepared in accordance wtlh Financial Reporting Standard 102 'The
Financial Reporting Standard applicable in the UK and Republic of Ireland, and in accordance with the
Housing SORP.. 2018 (Slalemenl of Recommended Practice for registered social housing providers)
Basls of preparatton
These financial statements have been prepared using the historical cost convention except that as disclosed
in the accounting policies certain items are shown al fair value.
Care Housing Association is a public benefrt entity in accordance with FRS 102 paragraph 3.3A
1.2 Going concern
At the time of approving the financial statements, the board have a reasonable expectation thal the
association has adequate resources lo continue in operational existence for the foreseeable future. Thus the
board continue to adopt the going concem basis of accounting in preparing the financial stalemenls.
16-

CARE HOUSING ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Accounting policies
(Contlnued}
1.3 Turnover
Turnover comprises the fair value of the rental income received or receivable for the provision of services in
Ihe ordinary course of the associalion's activities.
The association recognises revenue when-.
The amount of revenue can be reliably measured-
it is probable that future economic benefits will flow to the entity..
and specific criteria have been mel for each of the association's activities.
More specifically the maiorily of income is received via housing benefit from local aulhorities. The rental
income is received in 4 weekly terms,. therefore, Care Housing Association re¢ognises income on a 52 week
period. In these accounts the period is from 25th March 2024- 24th March 2025.
Olher income that is invoiced for void occupancy is recognised up lo 31st March 2025.
1.4 Tangible fixed assets
Tangible assels are stated in the statement of financial posrtion at cosl, less any subsequent accumulated
depreciation and subsequent accumulated impairmenl losses.
The cosl of tangible assets includes directly attributable incremenlal costs incurred in their acquisilion and
inslallation.
Depreciation is recognised so as lo write off the cost or valuation of assels less their residual values over their
useful lives on the following bases..
Land and buildings
Leasehold costs
Freehold Buildings - Structure
Freehold Buildings - Kitchen
Fixtures and fittings
Computer equipment
Freehold Buildings - Heating
Freehold Buildings - Boiler
Freehold Buildings- Windows
Freehold Building - Roof
Office èquipment
Term of lease
25% Written down value
100 years
10 years
15 years
30 years
30 years
10 years
25 years
40 years
33 /0 WrFtten down value
The gain or loss arising on the disposal of an assel is determined as the difference behveen the sale proceeds
and the carrying value of the asset, and is credited or charged to income or expenditure.
1.5 Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-lerm highly liquid
investments that are readily convertible lo a known amount of cash and are subject to an insignificant risk of
change in value.
1.6 Financlal Instruments
Classification
Financial instruments are classified for, according to the substance of the contractual agreemenl, as financial
assets, financial liabilities or equity inslrumenls.
17-

CARE HOUSING ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Accounting policies
Icontinuedl
Fair value measurement of linancial instruments
Recognition and measurement
An equity instrument is any contact thal evidences a residual interest in the assets of the association after
deduding all of its liabilities. Where shares are issued, any component that creales a financial liability in the
balance sheet. The corresponding dividends relating to the liability component are charged as interest
expense in the income and expenditure account.
Basic financial assefs
Basic financial assets. which include debtors and cash and bank balances, are initially measured at
tiansaction price including transaction costs and are subsequently carried al amortised cost using the effective
interest method unless the arrangement constitutes a financing transadion. where the Iransaclion is
measured al the present value of the future receipts discounted at a market rale of interest. Financial assels
classified a5 receivable within one year aTe not amortised.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary
course of business.
Trade debtors are recognised initially al the transaction price. They are subsequently Measured at amortised
cost using the effective interest method, less provision for impairment. A provision for the impairment of trade
debtors is established when there is objective evidence that the association will not be able to colle¢t all
amounts due according to the original terms of the receivables.
Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries. associates or
joint ventures, are initially measured at fair value. which is normally ihe transaction price. Such assels are
subsequenlly carried at fair value and the changes in fair value are recognised in income or expenditure,
except that investmenls in equity instruments Ihal are not publicly traded and whose fair values cannot be
measured reliably are measured al cost less impairment.
Impaimient of financial assets
Impairment
Financial instrumenls are reviewed annually for any changes in value andlor written down if they are impaired.
Derecognition of financial assets
Financial assets are derecognised only when the conlfactual rights to the cash flows from the asset expire or
are settled, or when the associalion transfers the financial asset and substantially all the risks and rewards of
ownership lo another entity, or if some significant risks and rewards of ownership are retained bul control of
the asset has Iransferred to another party that is able lo sell the asset in its enlirety to an unrelated third party.
Classrfication of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual
arrangements entered into. An equity instrument is any contracl that evidences a residual interèst in the
assets of the association after deducting all of rts liabilities.
Trade creditors
Trade creditors are obligalions lo pay for goods or services that have been acquired in the ordinary course of
business from suppliers. Accounts payable are classified as currenl liabililies if the a5socialion does not have
an unconditional right, at the end of the reporting period, to defer settlement of the creditor for al least twelve
months after the reporting dale. If there is an unconditional right to defer settlement for at least tsvelve months
after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially al the transaction price and subsequently rneasured al amortised cosl
using the effective interest method.
18-

CARE HOUSING ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Accounting policies
(Continued)
Other financial liabilities
Derivatives, including interest rale swaps and forward foreign exchange contracts, are not basic financial
instruments. Derivatives are initially recognised at fair value on the date a derivative contracl is entered into
and are subsequently re-measured al their fair value. Changes in the fair value of derivatives are recognised
in income or expenditure in finance costs or finance income as appropriate, unless hedge accounting is
applied and the hedge is a cash flow hedge.
Debt instruments Ihal do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured al
fair value through income or expenditure. Debt instrumenls may be designated as being measured at fair
value through income or expendilure to eliminate or reduce an accounting mismatch or if the instrumenls are
measured and their performance evaluated on a fair value basis in accordance with a documented risk
management or inveslmenl strategy.
Derecognition of financial liabilities
Financial liabilities are derecognised when the association's contractual obligations expire or are discharged
or cancelled.
1.7 Retirement benefits
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and
the association has no legal or constructive obligation lo pay further conlnbulions even if the fund does
nol hold sufficienl assets to pay all employees the benefits relating to employee service in the r)Jrrenl and
prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. 11
contribution payments exceed the conlribution due for service. the excess is recognised as a prepayment.
1.8 Leases
Rentals payable under opeiating leases, including any lease incentives received, are charged to income or
expenditure on a straight line basis over the term of the relevant lease except where another more syslematic
basis is more represenlalive of the lime pattern in which economic benefits from the leases asset are
consumed.
1.9 Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is
reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance condrlions is recognised in income when the performan￿ conditions are
met. Where a grant does not specify perfomance conditions it is recognised in income when the proceeds
are received or receivablè. A grant received before the recognition criteria are satisfied is recognised as a
Judgements and key sources of estimation uncertainty
In the application of the association's accounting policies, the board are required to make judgements,
eslimates and assumplions about the carrying amount of assets and liabilities that are not readily apparent
from other sources. The eslimates and associated assLJmplions are based on hislorical experience and other
factors that are considered to be relevant. Actual resulls may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounling
estimates are recognised in the period in which the estimate is revised where the revision affects only that
period, or in the period of the revision and future periods where the revision affects both current and fulure
periods.
19-

CARE HOUSING ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Judgements and key sources of estimation uncertainty
(Continued)
Operating lease commilments
The association has enlered into a number of operating leases which il oblains the use of. The classification
of such leases as operaling or finance lease requires the associalion to determine, based on an evaluation of
the terms and conditions of Ihe arrangements, whether il retains or acquires the significant risks and rewards
of ownership of these assets and accordingly whether the lease requires an asset and liabilrty lo be
recognised in the slatemenl of financial position.
Turnover and other revenue
2025
2024
Tumover analysed by class of buslness
Rental income
Other income
8,116,992
114,924
6,844,672
236.804
8,231.916
7,081,476
2025
2024
Other revenue
Interest income
Grants received
646
19,412
5,211
25,883
Operating surplus
2025
2024
This is arrived al after charging..
Government grants
Fees payable to the association's auditor for the audil of the financial
statements
Depreciation of owned tangible fixed assets
Loss on disposal of tangible fixed assets
Operating lease charges
(19,412)
(25,883)
9,348
165,822
28,386
15,977
6,918
160,022
Auditorfs remuneration
2025
2024
Fees payable lo the associalion's auditor and associates..
For audit services
Audit of the financial statements
9,348
6,918
For other services
All other non-audit services
17.367
12,948
-20-

CARE HOUSING ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Employee$
The average monlhly number of persons employed by the asso¢iation during the year was..
2025
Number
2024
Number
Administration and support
14
14
Their aggregate remuneration comprised..
2025
2024
Wages and salaries
Social security costs
Pension Gosls
550,386
58.380
25,298
493,248
47,606
22,887
634,064
563,741
The remuneralion paid to key management in the year was £101,031 12024.. £101.776) including benefit in
kind payments plus £3,51412024'. £3,141) in employers pension contributions.
Interest payable and similar expenses
2025
2024
Interest on financial liabilities measured at amortised cost:
Other interest on financial liabilities
124,461
117,319
Interest receivable and similar income
2025
2024
Interest income
Interest on bank deposits
646
5.211
21

CARE HOUSING ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Tangible fSxed assets
Land and
bulldlngs
Leasehold Fixtures and
Costs
fittlngs
Comput•r
equipment
Total
Cost
At 1 April 2024
Additions
Disposals
7,586,738
1,131,617
1188.550)
311.212
16,993
266,243
42,781 8,206,974
1,148.610
(188,550)
Al 31 March 2025
8,529,806
328,205
266,243
42.781 9,167,035
Depre¢iation and impairment
Al 1 April 2024
Depreciation charged in the year
Eliminaled in respecl of disposals
564,194
105.480
(33.234)
128,798
28,026
169,704
24,135
18,240
8,181
880,936
165,822
(33,234}
At 31 March 2025
636,440
156,824
193,839
26,421
1.013,524
Carrying amount
At 31 March 2025
7,893,366
171.381
72,404
16.360 8,153,511
At 31 March 2024
7.022,546
182,413
96,540
24,541
7,326,040
10 Debtors
2025
2024
Amounts falling due within one year:
Trade debtors
Other debtors
Prepaid expendilure
Accrued income
120,431
128.460
1,760.414
293,318
227,278
12,363
1.789,259
191,524
2,302,623
2.220,424
11 Creditors: amounts falling due wlthin one year
2025
2024
Notes
Bank loans
Trade creditors
Taxation and social security
Other creditors
Accruals and deferred income
13
77.590
1,668,611
15.377
44,777
1,839,654
(1,562)
428,015
213,199
2,189,595
2,096,068
22-

CARE HOUSING ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED>
FOR THE YEAR ENDED 31 MARCH 2025
12 Creditors: amounts falling due after more than one year
2025
2024
Notss
Bank loans and overdrafts
Void provision
Olher creditors
13
2,529,874
1,126,791
2,785,772
1.728,882
931,051
2,402,365
6,442,437
5,062.298
13 Loans and overdrafts
2025
2024
Bank loans
2,607,464
1,773.659
Payable within one year
Payable after one year
77,590
2,529,874
44,777
1,728,882
The bank loans are seGured by a legal charge over 34 Farringdon Road, Wafrington. 519 Hernpshaw Lar
Stockport, 48 Ebbdale Close, Stockport. 16 Corinthian Avenue, Liverpool, 148 Nangreave Road, Stockport, 6
Bangor Road, Cheadle, 18 Hertford Close. Warnngton. 2 Savernake Road, Stockport, 31 Summerbridge
Crescent, Bradford, 6 Lindbury Avenue, Slockport, Flats 1-9 Vicloria Gardens, Clitheroe and 1- 2 Roxburgh
Gardens. Hull.
The cumulalive capital repayments after 5 years are £2.104,469 and the interest rate on these repayments
are 1.6 % above the Bank of England base rate.
14 Pension schemes
2025
2024
Defined contribution schemes
Charge to income or expenditure in respect of defined conlribulion schemes
25,298
22,887
The association operates a defined contribution pension scheme for all qualifying employees. The assets of
the scheme are held separalely from those of the association in an independently administered fund.
15 Share capital
2025
Number
2024
Number
2025
2024
Ordinary share capital
Issued and fully paid
175of1peach
175
23-

CARE HOUSING ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
16 Contingent liabiitles
Rental In¢ome
Included in the rental income collected by the association is a percentage relating to fulure voids. This
element is deferred in the financial 51atements and will be released to the income and expenditure account as
and when a void arises.
If, al the end of the agreement period, any of the deferred rental income for properties with LanGashirè County
Council is not released to the income and expendilure account, one third of the balance is payable to
Lancashire Social Setvices. This amount per the void provision al the 31st March 2025 is £157,991 (2024:
£168.9981. Due to the nature of the agreements there is a possible transfer of economic benefits, of which the
amount remains uncertain.
The management agreements are in place for 10 or 15 years from when they commenced and are linked to
the properties on an individual and property by property basis.
Grants
Within other creditors more than one year is a second grant that was issued to Care Housing which was in the
year ended 31st March 2017. This was also used lo purchase a property for individua15 with learning
disabilities lor such other needs as are agreed by NHS England). The terms of the grant stipulate that if the
property is sold the grant is repayable, unless NHS England waiver ils right to repayment. NHS England have
1 st legal charge over the property. This is released using the accruals model in ac¢ordance with FRS102 due
to the clause.
Durin9 2020 a Ihird granl was issued by NHS England with the same terms as the above NHS grant. The
granl was issued for £419,000 in 2020 with a further £98,819 being issued in the 2021 year end.
During 2021 a fourth grant was issued by NHS England with the same terms as the above NHS grant. The
grant was issued for £300,000 in 2021 with a further £125,616 issued in the 2022 year end.
During 2023 a fifth grant was issued by NHS England with the same terms as the above NHS grant. The grant
was issued for £500,356 in 2023 with a further £90,003 issued in Ihe 2024 year end.
During 2025 a sixth grant was issued by NHS England with the same terms a5 the above NHS grant. Tl
grant was issued for £385,000 in 2025 wilh a further £310,638 issued in the 2026 year end.
17 Operating lease commitments
As lessee
At the reporting end dale the association had oulslanding commitments for fulure minimum lease payments
under non-cancellable operating leases, which fall due as follows..
2025
2024
Within 1 year
Years 2-5
After 5 years
11,311
740.189
51,248,325
3,087,950
55,579,155
58,667,105
51.999,825
-24-

CARE HOUSING ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
18 Cash generated from operations
2025
2024
Surpluslldeficit) after laxation
373.769
361,497
AdJustments for:
Finance c051s
Investment income
Loss on disposal of tangible fixed assets
Depreciation and impaimient of tangible fixed assets
124,461
(646>
28.386
165,822
117,319
(5,2111
160.022
Movements in working capital:
Increase in debtors
Increase in creditors
(82.199) {1,509,4491
639,861
1,300,594
Cash generated from operations
1.249,453
424,773
19 Analysis of changes in net debt
1 April 2024 Cash flows31 March 2025
Cash at bank and in hand
Borrowings excluding overdrafts
1.089.148
(1.773,659)
937,763
2.026.911
(833,805} (2,607,464)
(684,511)
103,958
(580,553)
-25-

CARE HOUSING ASSOCIATION
DETAILED TRADING AND INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2025
2025
2024
Turnover
Core rent
Void income invoiced
Fumilure Cover Allowance
Major repairs income
Other Income
6,934,084
789,255
11.232
382,419
114.925
5.653,012
745,453
22,068
424,138
236,804
8,231,915
7.081,475
Cost of sales
Purchases and other direct costs
Lease Payments
Major Repairs provision
Void Provision
4,851,855
382,419
195,741
3,889,476
424,138
137,169
Total purchases and other direct costs
5.430.015
4,450.783
Total cost of sales
{5,430.015)
(4,450,783>
Gross surplus
2,801,900
2,630.692
Other operating income
Government grants receivable and released
19,412
25,883

CARE HOUSING ASSOCIATION
DETAILED TRADING AND INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2025
2025
2024
Administrative expenses
Wages and salaries
Staff NIC (Employers)
Staff recruilmenl costs
Staff training
Staff pensions (Defined Contributions)
Premises Expenses
Rates
Power, light and heat
Property, Maintenance and While Goods
Insurance
Furnishings
Water treatment and testing
Fire risk assessment
Compuler software and maintenance costs
Car hire (Operating leases)
Molor Expenses
Accommodation and subsislence
Professional subscriptions
Legal and professional fees
Consultancy fees
Accountancy Fees
Auditor's remuneration - The audit of Ihe annual
accounts
Void Propety Spend
Rose Truslam Foundation (formeTly Care
Foundation)
Donations
Bank charges
Bad and doubrful debts
Board meeting expenses
Marketing
Printing, postage. stationery and telephone expenses
Gardening
Sundry Expenses
Depreciation
Surplus or deficit on sale of tangible assets {non
exceptional)
550,386
58,380
493,248
47,606
119
6,230
22,887
16,094
70.247
151,337
780,720
115,597
52,668
21,142
9.168
22.630
14,680
25,298
32,426
128,212
127,736
563,696
110,886
42,549
64,021
15,714
66,088
15,977
20,073
454
18,600
43,915
19,203
17,367
18,268
199
5.999
19,725
17,507
12,948
9,348
45,118
6,918
35,725
4.611
3.436
100
1,273
2,893
38,827
9,730
16,873
10,047
43,894
12,519
165,821
1,600
6,797
11,926
50,009
20,824
160,023
28,386
(2,323,728)
(2,182,970)
Operating surplus
497.584
473,605
Interest re¢eivable and similar income
Bank interest received
646
5,211
646
5.211
Interest payable and similar expenses
Non bank interesl on loans
1124,4611
(117,319)

CARE HOUSING ASSOCIATION
DETAILED TRADING AND INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2025
2025
2024
Surpluslldeficit} before taxation
373,769
361,497