FOREST HILL ISIELTEREDI HLNJSING UMITED DIREcfoRS' REPORT AND FIPIANCLALSTAIEMENTS FOR TNE YEAR ENDEfl 31 MARCH 2024 FOREST HIiL ISHELTEREDI HOIISING IIMttED CONTEPtrs Company Informat*)n Dlrttt¢¥5' rewrt Report￿ actouniani's report Statemeniof Comprehefisl￿ ID¢ome 8alance sheei &7 ststemenr ol change In rese￿$ Statement of cash flty Notes to the(ash Now 51atement io N¢tes to the finandol smernents 11-17 Thefollo&wn¢poqes do Mrfttmwrtof rhe stotUW47ttuunts Detalled iThtorne ind ￿pendItUre ifCDunt 1&20 Page I FOAÈST HILL ISHELTEREDI W)USINfj UMITED COMPANY INFORMA710N FOR THE YEAR ENDED 31ST MARCTrI 2024 rect¢¥s S M Oar*e Mrs M el￿bury Mrs G Ro(he sCNa Mfsj Spen¢er Mrs MJ Pullan Mr5 S Shippey Mrsv 5aunder5 Secretsry *$ F L Thornton C¢>mpany nurnber (W7893 IEnOaThd & Wale51 Charlty Commfsslon Re8lstered number 223653 Hornes and Communities Alency Re8isiertd numbtr LH 1020 Re815tered Offi 11 Park Leed5 L58 1?H ReportIngA￿•unt0fit Thcfflas Coombs Llmlted th¥¢ered kcountsThts 3365The Pentsso Centrjry W•y Th￿pe Park leeds LS15 8Z8 PaBe 2 FOREST HILL ISHÉLTEREDI HOUSING UMITED DIRECfORSItEPORT FOR ThE YEAR ENDED31sf klARCH 21J24 Thi￿ dIrv[to￿ prE5ent thelr rel￿ the statements forthe yeareThled 31 Marth 2024. PRINUPALACTIVITY The companW5 ￿nCipal attivlty contynues to be a non-profrt makln8 charlty, provldthg a(commodatlon forelderfy people. PUBUC OENEHT lffl Setting and revlthwng our aim5 the board has I￿￿n arelul consldwation w the Ch¥tty Commlssknn's8uldance on publk benefi(. DIAEcfoRS The directors who seryeil dulinithe yeai wer•:. Mr5 S M aarke Mrs M aradbury Mrs G Roche Mrs C Naylor Mrs J Sponcor Mis M J Pullan Mrs S Shippev Mrs Vsauiiders Pa¢e 3 FORESTMILL ISHfLTEREDI K)USIPI6 LIMITED DIREcfoRSREPORT FC*ThE YEAR EP4￿0 JIST MARCH 2024lcorrttnwdl SMALLCOMPANY RIJLES These acujunts have been p￿Pared kn ac(LYdanc*wllh the SP￿4a1 prov￿10￿$ relatkn8 to c¢xnpanies subjett 10 the sméll comp•nies rtglrnl withln Part IS of thè Comp•nles Art 2(rfJ6. Th15 repgrt Wa5 wproved by the b￿rd on 16, M¥v 2024and si8ned on fts behall bv.. MRS S M CLARKE C¢mp•ny nurnb•r (KIY7893 IEn8l•fid & Waksl P4e4 FQRENHILL ISHELTEIIEDI IKIL151NG UMifED ACCOUNTANTS. REvoFifTO THE BOARD OF DIREcfoRS of4TNf LINAU(¥TED Accourirs OF FORESf HILLI5HELTEAEDI HOUSING UMITED We report Ihe accounts of Forest Hill15hekteredl H￿$th8 iirrdted for the￿ar ertded 31" Mafth 2024 whith are srt cmrton Pa8es 5 10 17. Ittspertl¥e respwtblltles oFth¢ of Dlwe¢wr¥ and Re￿￿1b8AtC1￿￿tsfits The Board of the Forest Hill (Shelteredl HousSn8 Umlted 45 responslbfe forthe preparatlon of the accounts, and they consHlcr that the Forest Hill IShè*teredl Housln8Umrted isexemptfrorn anaudit. It is owresponsibilltyta carryout procedure5 de5i8ned to enabl¢ vs to Teport ¢>Jr wrion. 8asls of oplnloTh Our pro¢edures consistÈd ottomparinR the 3ccovnES With thè accouniine rÈoirdE kry)I hy rh• ForÈ%t Hill lShelt•r•dl H¢)v61nÈ Limlttd. as Re8lstered knial Noush8 Provxler. and rnaknni S￿h ertouirie5 of the officers ol the Foiest Him Isholtcredl Housln8 Limited 05 we considered necessary for *he purF*)ses of this report. These Pfcrfedures pro¥ldethe only assurance expressed in Lwr ownlon. Oplnlon In Qur op6nlon'. th• accounts for ended 31° March 2024 are In •¢¢ordance wth the account￿1 rocwls kept by the Reilstered SocLryl Housing pro￿tr undqr par4gr•ph l35121 of HO￿￿1 and Re8eneration Act 2008,. havinq rrfard c￿￿14 on the basls ofth* informkn ¢ontskned In the a¢countyn8 records: the a£￿￿nIs(0rnpty with ihe requlrementsotthtCharltk5 A¢t 2011; the lIt￿stered Sorial Mousin8 Provldcr has satlsfitd the conditlons for exefflption from èn audit of the account% lthr¢heye•rértded 31st 2024 speci16ed in settion 146(31 ofthe Ho￿1n$ and At8ener&t4oN kt the accnunts Comp￿ with rhe requiremenls of the Housin8 Regeneratlon Att 2(1)8 and the Atcountlng Dlrection for prlvate le8￿tered prtrrfhJtr5 of 50cl•l houslnl In ITh￿1￿) 2015. Thomas C•ombs Umlied. Chartered Af¢tyJntants Reportln8 Accouniants 336% The Pentagon Century Wav Thorpe Park Leeds is15 8ZB 16" May 2024 Page 5 FOREST HILLISHELTEREDI HOUSING UMITEO STATEMENT OF COMPREHENSIVf SIICOME FOR TME YÉAR ENDED 31ST MARCH 2024 12 Monthsto 7ftAonfhs to 31" Marth 31" Morch 24 2023 TUrno￿T 244.2x1 124372 Le55.' Operating costs f137.917J Operalln8 Ideficltllsurplus 1164.1ts1 113,5451 Interest receNable and other irKoTr &492 IDeftltllsurplus on ordtnwy acii4ltl# b•lore 11542941 17.053J Tax Idefkltvsurplus on ordinary actlvlt*s Unreallsed •nd realw 881n￿(￿se51 inve5trrents 21J41 f6,40SJ 113U511 lj3.458J Revenue reserye broutht fmw•rd 579994 593.452 Ae¥enuereserve carriedfan¥a 447,141 579,W4 The above results rel•te io ¢¢ntinulr4 acti¥itses The notts un pa8e5 11 to 17 form part of tht*finanrial 51atements. FQRE5T HILL ISHELTEREDI FKIUSING UMITED BALANCE SHEEr PÈse 6 5T AS AT 31 MARCH 2024 31st Marrh 2024 31sr Murch 2023 Note5 TA14GIBLE FLYEDAs￿r5 HOU￿￿8 wapBrtie5 Depie¢1at￿n ol hDUS￿ propert*5 s75￿￿ {3116ty)1 575.808 1?96,040} 2632L Other fixed ossets 279,768 4.086 268W 283.854 FIXED ASSET INVESTMElIts Investments 335,863 .641 CURRENTASSETS Stock Debtors Cash at baTrk afid In hand 619,717 8.524 So￿51 5.304 66536 61176 71610 CREOITOnS.. A￿K￿nts lallinl due withln +)ne year (10.2231 NÈT fLIARE14T ASSETS 49.755 62,407 CREDffORS.. A￿unt$ falllne thje aftermort than ont year 197,IKI (IOIO571 TOTAL ASSETS LESS CURRENT LIABIUTIES 447,214 580.067 CAHTALAND AESEftVES ca￿41 up shorecap￿èl 12 73 73 Revenue reseNE5 representpd by tangible fixed assets - r*presented by other assets 165955 281,186 17&921 403,037 447214 Pa8e 7 FOREST HILL ISHELTEREDI HOU51Nfj LIP•WTEO BALAJ4CE SHEET Icontlnuedl AS AT 31" MAR(N 20Z4 The directors consklw that the company is Èntiued io exemptl¢in from the requirerDent to have an audli under the prOv￿510n ofs.47711l. oftheConpanlÈsAct Z[￿￿. Member5 ha¥e not rÈ4uired thecompany under5.476 of the Compènles Act ?Cth tD obtalTh an audit for the year endÈd 31°Marth 1024. The dirertors acknowled8e thoir rosp)nslblllties lor et)5uriThg that the comp￿¥ keeps actOUmtin8 record5 which eornpty With 5.386 and s.387 of the Companies Ad 2rth. and lor prepanfig •c£ouDts whith Kive a true and tsirview of the statt of affairs of the company 1$ at 31 Marth 2024 and ol its b5sfov the yeaien¢Jed in accordaNce wrth the requlremÈnts of .396 and which otherwise compty V*Tth tho rtqvlrernents ol th• Art rela￿nI to the accounts so far as applicab￿ to the company. Those flnanclal 5taiements wefe apwoNrd by the dirt¢tor5 afid autk)ri5wI for w tythe B￿rd on 16th May 2024 On behalf DI the Board MASS CLARKE rAre¢tor KIRS C NAYLOft Olvector Comp•ny Nurnberfy)547893 The notes on pages 11 to 17 form part of thesefinan¢i41 ¥taten*Tht& Page 8 FOREST HIiL15HELTEREDI MOiISII46 UMITED STATEME•if OFthFANGE IN RESERVES A5 AT 31" MARCH 2024 C•lLt&up shaTe hKome and ej1p￿￿kurV T(tsl ptt*l resep At 51"A￿u$l 2022 73 593A52 593.525 Surplu￿1DefItlt) lor the year 113.4511 114.1491 73 579,994 580,C67 Sharecdpttal issued Divid•nd5 At Jill M•rth 21n3 73 579.934 500.C67 rpltsslloef￿tI lor th• year 11318531 1132,8531 Total tompiqh•nth 447,141 M7.214 ShaFecaplral i55ued Olvhlends At 31K Marth 2024 73 447.141 447,214 The N)tes on p4e5 11 to 17 form part ofthtse fknandal stale￿*￿& PaRe 9 FORESTHILL ISHELTEREDI HOUSNG UMrrED ATEMEpif OF CASH FLOWS A5AT 31" MARCH 2024 12 Months tg J15t 7Months to 31SE Moprh 2024 2023 C•Ah loutflowl fr¢)m operaits¥ 19,8821 N•t C•5b loutlkwl from •perntlni ￿41th￿S I153￿65) 19.882) Payment& to acqvlre tJn8iblc fixod a5Je¢s Payments to acguire Inwestmeni$ Re¢elpt5 frorn sales of iThvÈstment5 (44WJ 15,3?8} 19.1341 I40.￿• Interest recdved aod other kn¢om? Dlvldends received 519 5.973 Net Infiow loutllowl fyom In¥•rtlr¢ •dMttes 137MI 11,236J Id•¢reueMln¢r••se In ¢*sh and (ath ¢wlv•l•nts 115.6841 fll,118J Cath and cash equknlonts •tthe ¢rfth• rtPty¢lr¥ ylod 66.S36 77.654 tash Ind t••th •quhalon1$4t the endofihe roportlry pqthd 50,852 66,S36 Page 10 FOAEST HILL ISHELTEREDI TrM)US1116 UMITED NOTES TO THE CASH FLOW STATEMEP AS AT 31" MARCH 2024 l. Re¢ondll*iion of OP**iF¥ 5ufplus to t*sh I￿) frm) op•ralknia¢￿￿ItlÉs 12 Months to 31rt Marth 2024 7Months to 315t Mtrrch 2023 Suwluslldeft¢ltl forthe ve•r 11318531 123.4581 DEpreciatlon and lrnpJirmentof tark81b￿thÈ￿ assets Investment irbcome IGa5nsllLib5 on ￿￿estMents Ilncrea$el I decrease In trade orhtr debtor5 Increasel Idecreasel in trade and other ueditors Ilncr&asel Idecreas* In siock Ja745 16,492) 6.405 12.2161 14,866) 19J181 IIJM411 13.2201 14.6771 ¢•sh I￿5 from opv•Uni aclMd•s {IS35651 f9.8821 Thp n￿t￿ on pa8e$ 11 to 171Drrn part of thrse Iln•nci•l Jt•tements. Page 11 FORE5fHILL ISHELTEREDI HOLISING UMITeD NOTESTO THE FINANaAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 tOUhlinK polk￿$ The company 15 incorporated under ihe comW￿ Art 2(4)6and is a ie8lsiered Charfty under the CharltlesAtt 2011 and a registered prg*iderol social Housine. Thofompany is limr¢ed byshare5 incorporated in EnBland 14Wales withln the United KinEdom. The address of the registered affice Js ii¥on In the company information on page l of these flAèn¢ial sratemonts_ lal Acwuntlni b•sts The finarscial Statements have been prepared in K£o￿ance with applicable acclyjnting standards indudine Financial Rew)rtiw Standard 102 FI￿ Ftnrynciul Reportfng Stundof6Applicable in the UKortl RepublK 011￿10nd IfRS 1021. the Stdternent ol RecurnMe￿ed Practice forSLKial HO￿5•￿E Prowders 2014. and wilh the A¢cwntln8 t*rection for prN3ie re8*stered Pro¥￿e[S 01 social hoysln8 In EnBtand 2015. The financial 5tstements are also prepared under the r•oulr@mpnts ofth• Housiw3nd Re6encration Act 2(￿)60nd the Componies AL(20Cfj. Trie lindnclal 5tatemenis h•ve been prepdred on a 8oln8 CO￿ern basL* vnder tne hi5torKal cost convention The finanoal statemenis arÈ prepdred In sterlin& whichls the fvoctlonal c￿￿enCY olih¢ RP, and rOU￿e0 iothe nearest f l. The 518nilicant a¢iounting wll¢ies aFvlled In the prepar￿th of these Ilnaneial 5t*efflents are set o*Jt below. Thesé pdlcles havt been cottsisterrtly applled to all years prtsqnt•J unless a(herwi5e stated. Ibl Turnowr Turnover Is measurnd al the fakvalye otthe consldeiation recei%*dor recehable of trade dlscounts. Thè pollcles adopted for the r•co8nltk>n of ¢urnovware as foll￿.. Turnover represents rentsi and S￿e¢ Ch￿Re$ income receNabKt in the year. nei of mt qervlce ch•r8•s and 1055E5 from vr1￿$. twethw SUI￿ry rEn¢4 income and ¢h#rye lcl In¢ome Irom Ibl%*Stmonts Wilh the excepiion of bank interest th1$ 15 rredlled In tr* accounis as re¢tl¥td. Idl Fkned •ndd¢pr•tht5on Tanwble fjxed assets. except Ireehold land. arestated at C05t. Iu5 KoJmulated depreciaiion. Depredatlon Is th•r8ed on a stralght Ilne basil over the expocted e￿￿O￿lr u5elul Ilves of the assets •t the folbwln8 anAual rates.. Housin¥ properrie5 PiuyErty and trfnce fvrTrrture and equip￿ 2%-5% 10%. 20% The usefi4 econom￿ I￿¢$ of all lang￿le fixe41 assets are re¥lewed (•) H•usln8 properd•5 Tangfrble Ilxed assets lindudlng social hou5iTr8 proForUesl are stated at COSI less 3£cumulateé depredatlon and accumulated irnpairment ID5ses. Cosi illcludes costs dirertty attrIl￿table to makin8 the asset capable of operatlng as Intended such the cost of acquiring land and buililngs, thvelopments Costs. Interest th4rge5 on loans the development penod and expeDdrture on impmverrents. EypeTrditure on ImproverTrentswtll onty be eapltalised when it results in in(rpmpnial future benefrts such as increasing rental I￿rne. reducinR malnienance costs or resulting in a $18nWlcant extensK)n ol the useful economk l)feof the property. Page 12 FORES[ HILLISMELTEREDI ￿1)USING UhlWTED NOTES TO THE FINANCIALSTATEMENTS Iconilnuedl FOR THE YEAR ENDÉD 31sr MARCH 2024 lfj Works to eMi￿1r￿ housin8propqrtles Work$ ar? char8Ed to the incthne and ekpendiiuve at(¢)unt unless thèy rewll in an enhanrernent of the economic benefits tsfthe propertyin e¥ce5s0f ihÈ prew0uS￿ assessed%tandardofpertorwee. This is measured byan Incrtsase the net rental income, Indurting a reduthon rna1nten￿ c05fs or result In a *rfkant exten51on of the u5efi econ¢mk life of the propenv. The8rant is held as deferred InuThwithin credltorsaThd re￿aSe￿￿*rthe estirnèted usel￿ Ilfeof the asset5towhich it relates. rECtlved for items of c05t v4ritten off In the Incorne and Exper*liture a¢coLnt Is matched 38alnsi those costs as part ol tumo¥er. SHG can rLxyded by ihe R5L under cqrtain COr￿lti￿15 ifa property LS Sold. or if another relÈ¥artt event tak05 ￿aCe. In ihÈse case5 the SHG Gin be used forproject5 approved by thp Homes and Ctsmmunlties 4ency. However SHG may have to be r¢p•id rfcertain condltions are Mt met. kn certain a￿Ums￿rb¢e5, SMG be tepayabl•. and, in th4t w•rbt 15 a sybordinoted un5ecufed rep•y•bl¢ debt. Ihl In%knents Current and fvAed a55et Irw¢s¢men15 are included It Mark￿ value. All10s5es and gain5 •vetaken direct its thg Income and Èxpenditure account (adjusted for Dther recognised 8aJn5 and asthey arise. Reallsed 8airL% And 105ses on Investments are cèlculaied as th* drflcrence betweEn sa￿5 prOCe￿S and the openlng market value (purchase date il laterl. Unrealised gains and10sses are ¢al¢ulited a5 the difference between market lue at the year end Lwlrff market lorpurthased*te Illaterl. 111 V•lu•Add*d T•xNAn Irr¢cov•rablt VAT whkh can be attributed 10 a caphl Jt•x or rwentse WqDdltwe Is addtd ro thp cost of the cap￿11 Itemor expcn5e5where pra¢tkabJeand mateflal. Ul P•nthn The cornpany céfjtrlbutes to defined contdbthion penskjn S(￿M￿l thet4a-.1onal Ernployment Sa￿n85 Trust INESTI scheme. Conlrtburlons payable to the schemes are chai8ed to the Income and expendthre a¢count in the perlod to whlth they rel•ie. Ikl Jud￿n•￿ts In ippMn4 polklEs •nd k•y ol•*thDaih)n ufic•rtalnty No 5i4nlffcant judRements h•ve teen mèd• In Ipp￿"￿ the acc￿ntIr* polkles adopted. Sto¢ St£*k is stated at the lower of o)St and estimated 5dllne prke less £O$¢S to compkne and sèll. Cost indudes all cust5 af wr(hèse, tQ5ts 01 converylon and other costs incurred In brinwnÉ stc