Charity registration number 1180617 (England and Wales) Company ￿gistratiOn number 11178139 BELMONT COMMUNITY HOUSING ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025 BELMONT COMMUNITY HOUSING LEGALAND ADMINISTRATIVE INFORMATION Trustees M S Moloney LA Moloney A M Hession Charity number (England and Wales) 1180617 Company number 11178139 Registered office Thornbank Tollington R08d Harwood Bolton Greater Manchester BL2 4LR Independent examiner David Herd Champion Consulting Limited I Vvorsley Couri High Street Manchestei M28 3NJ BELMONT COMMUNITY HOUSING CONTENTS Page Trusle8s' report Independent examinerfs report statement of finanaal activities Balance sheet Notes lo the finani#al statemen15 BELMONT COMMUNITY HOUSING TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 JANUARY 2025 The Trustees present Iheir annual report and finanaal statements for the year ended 31 January 2025. The financial statements have been prepared in aC￿rdance with the ac￿u￿ting policies sel out in note 1 to the financi81 statements and comply with Ihe Charity's governing docutnenl, the Cotnpanies Act 2006. FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP Accounting and Reporting by Charities.. Statement of Recornmended Pradice applicable to tharittes preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 102)" Objectives and activities Our objective as a farni1y funded charity is to build a small nutnber ol affordable homes. We fund, through an innovative way in partnership with the charity, Housing People Building Communities {HPBC. Charity no., 11021351 which allows the 'home p8rtners' to participate in the building of their homes. We as a family believe one of the mosl long-lasting contributions, we can make to the less fortunate people in our soaety, is to help provide new modern well designed and constructed hotnes. Currently we have fijnded the building tsf three homes, while Èlso taking an active part. on a lsmited basis. in building these homes. Public benefit The Trustees have paid due regard to guidance issued by the Charity Cotnmission in deciding what activities the Charity should urKlertake. Achi8vements and perfom)an¢e Sffgnificanl aclivities and achievem8IJt5 against objecbves Our chaiity has funded the building, via a staged payment agreement in line with an 89rÈed building programrne being achieved on time, for the construction costs of three homes in Ince, Wigan, Greater Manchester. We are sattsfied with progress and the quality of the build over the year. FinancSal review Our charity has been invotved wth HPBC for almost five years and in building homes since the planning phase during late 2022. Following a prograrnmed completion date tsf early 2025 that is on target. Our charity is funded via a family pension fund which is well resourced, and funds will afv¢ays be made available for any house building project we commit to being involved wf(h. Funding can't become litllited as we only Gommit to a building programme which we are Sure can be completed as planned and agreed. With the added protection of a retrospective staged payment agreetnent. structure, governance and management Belmont Community Housing I'BGH'I has entered into a partnership with Housing People Building Communities 'HPBC"l. In partnership we aim to assist the UK'S hou&ng crisis by providing a number of homes which will be provided to low income farnilies. Using the innovalive "sweat hours. concept each family membw hawng provided physical working hours on the building site Iwithin their ability) are able lo benefit from a dep051t contribution on their tnortgage to purchase their homes. If ever there is a short fall in the 'Horne Partners. ability lo fund a complete deposit this often could be matched by BCH making up the differen￿. Once th8 Htsme Partners have received a mortgage from a Bank or Building Soaely, Belmont Ctsmmunity Housing receives a refund of its donation for the new home. This refund goes into a joint bank account between HPBC and BCH. The monies are then r￿YCled into the next project and builds more homes. HPBC already have plans to build more new homes using this method in Mfigan. BELMONT COMMUNITY HOUSING TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025 The Trustee5. who are 8150 the direclors for the purpose of company law, and who served during the year and up lo the date of signature of the Iinancial statements were.. M S Moloney LA Moloney A M Hession R8cKurfmenl and appointment of InAsIBes Our charity is funded from a pen5itsn fund with a get amounl put aside and secuied for the purpose of funding our charity and building homes. We have a third independent trustee who is a lifelong trusted friend and committed to the objeciives of our charity. Our three current trustees are committed to the roles lor life. On their infiimity of de8lh other individuals supportive of the charity's objectives are prepared and willing to take on the roles. All Trustees afe frorn business backgrounds and fully unde15tand monetary procedures and controls. None of the Trustees has any beneficial interest in Ihe ¢ornpany. All ol the Tnjstees are mernbers of the company and guarantee to contTibute £1 in the event tsf a winding up. The Truslee8' report was approved by the B08rd of Trustees. M S Moloney Trustee LA Moloney Trustee 26 September 2025 BELMONT COMMUNITY HOUSING INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BELMONT COMMUNITY HOUSING I report to the Trustee5 on my examination of the finanual statements of Belmont Community Housing (the Charity) lor the year ended 31 January 2025. Responsibilities and basis of report As the Trustees of the Ch8rity land also ils directors for the purposes of company lawl, you are responsible for the preparation of the finan(ll81 statements in awjrdance with the requirements of the Companies Act 2006. Having satisfied rnysell that the financial statements of the Charity are not required to be audited under Part ie of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the Charity's finanoal statements caiiied out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Oiiections given by the Charity Comrnission under section 14515}(b} of the Charits"es Act2011. Independent examiner's statement Since the Charity's gross income exceeded £250,000. the independent examiner musl be a member of a body listed in section 145 of the Charities Act 2011. 1 confiTtn that l am qualified to undertake the examinalion because I am a member of the Association of Charteied Certified Accountants, which is one of the listed bodies. I have completed my examination. I conlirm that no matters have corne lo my attention in connection with the examination giving me cause to believe that in any material respect.. accounting recoid5 were not kept in respect of the Charity as required by section 386 of the Companies Ad 21XIS. the financial statements do not accord with those records., or the financial statemen15 do not comply with the accounting requirements of section 396 of the Cornpanies Act 20[￿ other than any requiretnent that the finanaal staternents give a true and fair view, which is not a matter considered as part of an independent exarninalion., tsr the financial statements have not been prepared in 8Cctsrdan￿ with the methods and principles of the st8tement of Recommended Practice lor accountin9 and reporting by charities applicable to charities preparing their financial statements in accoidance with the Finanaal Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no conceins and have come across no other rnatters in connection with the examin3tion to which attention should be drawn in this report in ordei to enable a pioper understanding of the financial statements to be Te8thed. David Herd FCCA David Herd Champion Consulting ￿M￿(ed I INoisley Court High Street Manchester M28 3NJ 26 September 2025 BELMONT COMMUNITY HOUSING STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JANUARY 2025 Unrestricted funds 2025 Unrestricted furbd$ 2024 Note5 Income from= Donations and legacies 264,997 50,000 Total Income 264,997 so.￿0 Experbditure on.. Chafrtable activrties 272,322 55.844 Total expenditure 272,322 55,844 Net expenditure and movement In funds 17,3251 {5.8441 Reconciliation of funds.. Fund balances at 1 February 2024 13,266 19,110 Fund balances at 31 January 2025 5.941 13,266 The stalernent of financial activities includes all gains and losses ￿¢09nISed in the ye8r. All income and expenditure derNe from continuing activities. BELMONT COMMUNITY HOUSING BALANCE SHEET AS AT31 JANUARY2025 2025 2024 Notes Current assets Cash at bank and in hand 97,991 14,116 Creditors.. amounts falling due within one year 192.0501 18501 Net current assets 5,941 13,266 The funds of the Charity Unrestricted funds 10 5,941 13.266 5,941 13,266 The company is entitled to the exemption from the audit requirernent contained in section 477 of Ihe Cofflp8nies Act 20(￿. lor the year ended 31 January 2025. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 21K)6 with respect to accounting iecoids and the preparation ol financial slaletnents. The members have not required the company to obtain an audit of its financial statements for the year in q*Jestion in accordance with section 476. These ffinanci81 slatetnents have been prepared in accordance with the PTovisions applicable to companies subject to the small companies iegitne. The finanaal stalements were approved by the Tiustees on 26 September 2025 M S Moloney Trustee NSh4J LA Moloney Trustee Cornpany ￿gIStratIon number 11178139 (England and Wales) BELMONT COMMUNITY HOUSING NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUAR Y 2025 Accountin9 policies Charity information Belmont Community Housing is a private company limited by gL¢arantee incorporated in England and Wales. The registered office is Thombank, Tottingion Road, Harwood. Bolton, Greater Manchester, 8L2 4LR. 1.1 Basi5 of preparatton The financial statements have been prepared in accordance with the Charity's governing document, the Companies Aot 2006, FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Chaiities SORP "Accounting and Reporting by Charities". Statement of Recommended PradiTr applicable to diarities prepafing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Iieland IFRS 1021" The Charity is a Public Benefit Entity as defined by FRS 102. The Charity has iaken advantage of Ihe provisions in the SORP for charit￿$ not to p￿pare 8 statement of cash flows. The financial statements are prepared in sterfing. which is the functional currency of the Charity. Monetary amounts in these financial statements ale rounded lo the nearest £. The finanaal slaternents have been prepared under the historical cost wnvention. The principal accounting policies adopted are set out below. 1.2 Going concem At the time ol approving the financial statetnenls, Ihe Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustee5 continue tts adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are avail8ble for use at the discretion of the Trustees in furtherance of their charitable objectives. 1.4 Incom8 Income is recognised when the Charity is legally entitled tts it after any perfomance ¢onditii)ns have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations ale recognised on receipt. Other donations are recogni58d once the Charity has been notified ol the donation, unless perform8ll￿ conditions require deferral of the amount. In¢orne tax recoverable in relation to donations received undei GiftAid or deeds of covenant is recognised at the tirT18 of the donation. Legacies are recognised on receipt or otherwise if the Charity has been notified of an itnpending distribution, the amount is known. and receipt Is expected. If the amount is not known. the legacy is treated as a contingent as5el. 1.5 Expenditure Expenditure is recognised once there 15 a legal or construrtive obligation lo tiansfer e￿n9[niC benefit to a third party, it is probable that a transfer of economic benefils will be required in settlement, and the amounl of the obligation can be measured reliably. Expenditure is dassified by 8thvrty. The costs of each aciivily are made up of the total of direct wsts and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Sh8red costs which contribute to more than one adivty and support costs which are not attributable to a single activity are apportioned belween those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation ch8rges a￿ allocated on the portion of the asset's use. BELMONT COMMUNITY HOUSING NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025 Accounting policles (Continued) 1.6 Cash and cash equlvalents Cash and cash equ1v8￿nIS include cash in hand, deposits held al call wlth banks. other short-lerm liqvid investments Wlth original maturities of three months or le$5, and bank overdrafts_ Bank overdrafts are shown within borrowings in current liabilitie5. Basic financial assets Basic financial assets, which include debtors and cash and bank balances. are initially measured at transadion piice including transaction c051s and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value ol the future ieceipts discounted at a market rate of interest. Finanoal assets dassified 8$ receivable wilhin one year are not amortised. Basic financial liabilities Basic finanaal liabilities, including credi1015 and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the p￿sent value of the future paytnents discounted al a maTket rate of interest. Financial liabilities classified 8s payable within one year are not amortised. Debt instruments are subsequenuy carried at amortised cost, using the eff￿1Th[e interest rate method. Trade creditors are obligations to pay lor goods Of servic8S that have been awuiTed in the ordinary course of operations from suppliers Amounts payable are classrfied as current liabilities if payment is due within one year 01 less. If not, they are presented as non-current li8bilities. Trade creditois are recognised initially al transaction price and subsequently measured at amortised c05t Using the effective interest method. Derecognition of financlal liabilities Financial liabilities are dere¢ognised when the Chaiily's contractual obligations expire or are discharged or cancelled. 1.7 Employee benefits The ctsst of any unused holiday entiuement is recognised in the period in which the employee's service8 are re￿ived. Termination benefits are recognised immediately as an expense when the Chaflty is demonstiably committed to terminate the employment ol an employee or to provide lerminalion benefits. Income from donation$ and legacies Unrestricted funds 2025 Unrestricted funds 2024 Donations and gifts 264,997 50,000 BELMONT COMMUNITY HOUSING NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 JANUAR Y 2025 Expenditure on charitable activities Housing Charitable project Activities 2025 2025 Total Housing Charitable project Activities 2024 2024 Total 2025 2024 Direct Costs Conliibution5 towards housing project costs 270,000 1,(K)O 271,000 54,103 54.703 Share of support and governance costs Isee note 51 Goveinance 1,322 1,322 1,141 1,141 271,322 1,(KJO 272,322 55,244 600 55,844 Analysis by fund Unrestricted funds 271.322 1,000 272,322 55,244 600 55,844 Description of Charitable activities Our objective as a family funded charity is to build a small nurrber of affordable homes. We fund. Ihroygh an innovative way in partnership with the charity, Housing People Building Communities IHPBC. Charity no., 11021351 which allows the'home partnets, to participate in the building of their homes. We as a family believe one of the most long-Sasting contributions, we can make to the less fortunale people in our society, 15 to help provide new modern well designed and constructed homes. Support costs allocated to activitles 2025 2024 GovBinance costs 1,322 1,141 Analysed be￿een.. Housing project 1,322 1,141 Trustees None of the Ttustees lor any persons connected with them) recewed any remuner8tion or benefrts from the Charity during the year. Employees The average monthly number of employees during the year was.. 2025 Number 2024 Number BELMONT COMMUNITY HOUSING NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUAR Y 2025 Employees IContinued} There were no employees whose anrsual remuneration was more than £60.(XM). Taxation The charity is exempl frorn taxation on its activities because all its income Is applied for Chaiitable purposes. Creditors= amounts falling due withln one year 2025 2024 othei creditors Accruals and deferred income 850 91,2 850 W2.050 850 10 Unrestricted funds The unrestricted funds of the thaTity comprise the unexpended balan￿$ of donations and grants whith are not subject to specific conditions by donors and grantois as to how Ihey may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for spec4fi¢ purposes. At 1 Febnjary 2024 Incoming resources Resources At 31 January expended 2025 General funds 13.266 264,997 1272,3221 5,941 Previous year- At 1 February 2023 Incoming resources Resources At 31 January expended 2024 General funds 19,110 50,000 {55,8441 13,266 11 Rtlated party transactions Ther8 weie no disdosable related party transactions during the year12024- none}.