Cliarily i'egistration nuinber.. 225965 Regiilator of Social Housitjg IEgislration niiiiiber.. A3623 Alin5hous¢ As50Giation mejiibersliip nunibei.: 1354 Butterfield Homes, Wilsden Annual ReFQIt and Financial Statements for the Year Elided 31 March 2025
Butterfield Home8, Wilsden Contents Board Report I to4 Tiidependent Auditors, Report 5t07 statenient of Compreliensive Income Balance Slieet Statement af Clianges in Reserves 10 Cash Flow Slalen)eiit Notes to the Finaiicial Stateinettts 12to 17
Butterfield Homes, Wilsden Board Report The trustees present tlie allal i'eport togieiher with the financial statejnents of tlie association foi. tlie year ¢Dded 3 1 Mar¢li 2025. Stru¢tureJ govei'naiite And maiiagement The Chai'ity is Irgulated by a De¢laratioN of Trust dated 7 O¢tober 1935 and a Scheme da I l May 1935. The Cliarity is mai)aged by a board of Trustees plVid111g legal, Property Ji)anagetiienl aiid p8stoi.al skills. During the yeai. Ilie Ti'ustee5 w¢i"e unable to iecruit a clerk to manage the propeTiies and siipport th¢ Trnistees and Rtsideiils. Simec Ilie year end tlie 'fr115tee5 engaged The Peter Birtwhistle I'riist to a5515t with adniinistrative aiid regulatory matters. Tlie Tru8tees will continuc to be the first Jx)int of ¢onta¢t witli tlie residejits. The Trustccs held four nieetings dui'ing the yeai. and retnain Ilie owiiers uf six dwelliE)gs ai Hardeii Lane, Wilsdeii, Bingley BDI 5 OEU. Mark Silver was agaiii re-elected foi. Ili¢ year as Cliai¥ iii May 2025. Reeriiiliiiepii &iid oJ)poiJ1llepil ¢Jf iruslees Reverend Michael Gi'eeii resied during tlie year due to work cojiimilments. The trustees are CUlTently tryittg to recwit a rei)laceineiit to briiig tlie nutiiber of trustees back to 7. JiidiiclEOii uiidlroiiiliig oltt'iislee% All Rew Trustees ale given ali itjtroduction to tlie work of tlie Trust by exisiing Ti'ustecs and are also provided witli Cliarity Cojiiinission publication CC3 -1.lic Esscntial Ti'ustee,. what you need 10 know. and tlie C.liarity GovcinBnce Code. The Tiwstees are kept up to date of their JEsponsibilities by tlie Chair and other professional adviser5, as appropriate. The Charity is a Ineinber of The AlmShoe Association. 'Ihis or8anisation holds events ajid provides iicwsletters to pdate ils nieiiibers. Arruirgeiweiilsfor selliiig key FiiuiiageKieiilpcr5uiiiiel reiiiiiiiei'ailon The Trustees act in a voluntary capacity aiid ale unitniuiiei'ated. The Tiwstees are also I'rustce5 of Butterfield Hoines, Crosslii115 and Butterfield 14onies, Cottin8lcy. Ti'ustees #nd offjeers Tli¢ Ii'J.qteLq and officcrs serving during the year and sin¢e il)e year end were a8 follow5.. Tivste¢s'. Mi. Mai'k Silver (Chairl Mi. Albert Pratt Mi. Ali5taii' Docherty Mr Peter Earp Mrs Siisan Sedgwick Mr Simon Callaghaji Revered Micliael Gieen (r&%igned I l February 2025) Page I
Butterfield H(Jmes, Wilsden Board Report (Continued) Objectlves and ae(ivities The Charity provides six residential units in Wi15den. Qualifying Irsidents Inust be inliabitants of Wilsden or an Alta within a five mile I'adius of Wilsden and who are either aged 60 or over or are iiifiiTh. The Trustees PTovide property mainteTiance aiid repairs. The Trustees take an active interest in the healtli and wellbeing of die residents by undertaking Irgulai. visits lo residents. No care is piY)vided by Ilie Charity. lkne Ti'ustees have coiitinued a progi?miJie of itJip¥oveJneiii aiid moderjiisatioii of the Almslivu5es by upg12diiig wh¢n api)roi)riatc, particulai'ly when a property becoJn¢5 vacant. I'he '[ rustee's aim is io provide and mainlaill a level of accoininodation at a higl) standard. Public benefit The TSteeS pay due regai'd to the charEty coininission guidance on Public Benefit and believe Iliat the PlDvision to social housiijg within tlie local coiiiniunity conforms with thcii. guidance. Value for nioney Tlie Tru.qtees aijn tr> d¢liv¢i' its objectives in tlie most co%i-etT¢¢tiv¢ way possible but ensuring tl)at li pIDvidES quality hoines and services that lielp its residents reinain independetst. The weekly Lontribulion was £93 per week during the yeai.. On l April 2025 the Trustees incresqed this to £95 pet week. fiiese aiiiounts are below ilie levels recoiiinieiided by the VOA. Achieveineiits artd perforniance It is tlie Trllstees, policy to niaintaill and pirserve the properties to a high Standard. Coinplianc¢ inspection and planned maiiitetJdn¢e checks were Iiiainiained Iluougjiout the year. Tlie charity prides itself on iiieeling Ilie needs of its residents wherever possible. Tliis ijicludes installiiig disabled adaptions. In Noveniber 2024 a Quinquennial Report was carried out by Pearce Bottonilcy A¥chitecls. The Tru5tecs air reviewing tlie iepoj't with d view to caiiying out suggested i"epairslrenovatiolls. Mie IEPOrt liiglilighted issues with damp which the triislees liad alj'eady lakeii steps to rectify and continue lo review at eacli quanei-ly boai'd mccting There was one vacancy during the year for a pertod of one mottlh. Page 2
Butterfield Homes, Wilsden Board Report (continued) FinaiiciAI ieview Pollcji 011 resei'ves The Trustee8 are pleased to report a surplus for the year of £13,473 {2024 £14.3991. The Trustees hawe reviewed the Cliai'ity's needs for resetves in line witji the guidance issued by the Cliarity Coinniission and coiisidei. it prudeiit tliat reserves be syfyjcient lo avoid tlle necessity lo Iralise fixed as5els. The Trustees al'e confident that the fiiliiir income will enable tlie Chai'ity to mcet it5 foreseeable needs on the basis of planiied expenditure. The level of i'eservcs at 3 1st Mairli 2025 wa5 £255.52212024 _ £242,049). Aftei. takiiig into considei'ation Ilie aniount ued up in fixed assets atid the associated 812nl, wliicli is beinmy afjiortj5ed over tlie life of Ilie assets, tlie ainounl available ID free reserves al tlie year end was £143,593. Thc intej'nal controls of and the inajor t'isk5 and iincertainty to the charity arc reviewed and Imonitoird annually. The Tiuste¢s are confident that the piveedures in placc arc suff5cient to Imitigate tlie financial, Ianagement and compliance risks ideiitified. liive.fliiieiilijolicy lliid objeclives The Trustee5 set aside funds in ol'der to fiiiance fuiure planned expenditure and to provide a contiJigen¢y against future unfoi'eseen expejidilure. These funds are in invesimeDts which are easily tapable of conveisloli to l%qiiid fuiid5 aiid provide the best possible I'eturn foi. the loiv risk a55unied. The i)erftsi'iiiaiice of these ii)vesiinentS IS IfVTewcd by the Tivstees at ea¢h tJi¢ettng. Page 3
Butterfield Homes, Wilsden BoArd Report (continued) Statetllent of BoArds Responslbllities Tlic Board is rL%ponsible for prepai'ing the Rew>rt aiid the financial statements in accordance with Ilie applicable law and regulations. The IE8isleird social IIou5iiig legislation require the Boai'd lo prepare financial siatemeals for eacli finaiicial year wliich give a true and fair view of the st2te of affails of tlic associatioii and of ils income aiid expenditure foi. that peiiod. In prepa¥ing tliese fillaiicial statcmeiits, tlie Bi)aiYl is required to.. selecl suitable a¢¢ounting policies and then apply Iliem consis¢ently' Inake judgeinetiis and esiimates (lia¢ are reasonable and prudent; slate whether applicable accolllltins standards have been followcd, subject to any tiiaterial depariu¥es disclosed and explained in the financial stal¢m¢nis' and prepare Ilie finatL¢ial 5tateiiients on tlie going cojieern basis unless it is inappTopriate to preslinie that tlie association will continiie it] bus&ness. The Board is responsible foi. keeping proper accoui)ting recoi'ds that disclose with reasonable accuracy at any time the fillan¢ial posiiioii of the associatioii and ciiable theni to eiisuye that the financial st8tcnients coniply with the Housii)g and Regeneralioii Act 2008 aiid (lie Accouiiling DiiY¢iioii for private registcrcd providei's of social liousiiig in England 2022. li lias 8eiiei21 responsibility for taking reasonable steps to safeguai'd the asseis of tlie asso¢iation and to prevent and detect fi2iid aiid othci. IlTegulai'iti¢s. The Iruste¢5 are IEsponsible for the Inaint¢nan¢e and integrity of the corpoiate and financial irtformation in¢luded on the charitable coJJipaiiy's website. Legislation goveTning tlie preparation and dissemination of financial stèteinents may dsffer fiDnJ legsslation in oihei. juJ'i5diclioiis. The atijillal rep011 was approved by the trnstee5 of the association on and signed on its behalf by.. ir Docher 'rTUStee Page 4
ljutterfield Homes, Wi15den Independent Auditor's Report to the Members of Butterfield Homes, Wilsdt Oplnion We have aiidited the fillancial stateinen15 of Biitterfield Homes, Wilsden Iihe 'associaLion'l for the yeat. ended 31 Marcli 2025, whi¢li compi'ise Ilie Sta(einent of Comprehcjisive Iiicome, Balaiice Sheet, aiid Ntstes to Ilie fiiiancial Stalemeiils, including a suinniary of significant aecoiinting piJlicies. 'l-he financi81 repoiliiig frainework that ha.s beeth #pplied iii tl)eir PIEP8ration is applicable law aiid lJiiited Icingdom Ac¢ounting Siandai'ds, iiicluding Pinancial ticpoiling Standai'd 102 The Fitjancial Reporting Staiidai'd applicable iii Ilie UK and Republi¢ of l¥elat)d IlJnited Kingdoni Gciic1211y Accepted Accouiiting Practice). In our opinion tlie financial stateinent5'. ITive a true and fair view of the %tate of the as80ciation's affairs a5 at 31 MaY¢h 2025 and of its incoming resourees and applicatiun of Yesources, ii)¢luding ils incoine atjd expeiidÈture, for tlie year theii ended.. have been piDpevly piEpai'td in accojylanee with United Kin8dom Generally Accepted Accounting Pi'a¢ti¢e,' and havc bccn prepaiEd in accoTdaiice willi the requirements of the Charities Act 2011, the Housiiig and Regeneration A¢t 2008 and tlie Accounting Diirctioii for private vegistei'ed providei¥ ofsocial lioiisiiig iji Liigland 2019. BaLSiS for opinio We conducted our audit in a¢¢oi'dance i¥ith Tnternational Standards on Auditing {UK) IISAS {UK)l and appli¢able law. Our IsponSibl11t1eS iiiider those standards are further desei'ibed in the auditor IEspon5ibilities foi. the audit of the fijjancial statements 5ectiL)n of our reyon. We are independent of the association iii accordaiice willi the eihi¢al requireinetils tliat al'e relevaiit to our audit of t]ie finan¢i#l sta¢eineiiis itt the UK, iiicludiiig Ilie fRC's Etliical Staiidard. aiid we liave fulfilled our otlier eiliical respoiisibilities I accoi'dance witli these requiremcnls. We believe tliat tlie audit eVTdence we have obtained ts sufficicnt and appropriate to pix>vide a basi5 foT our qualEfied opinion. Conclusions relating to going concern Iii auditing tlie fiiiaiicial stateineiits, we liave ¢on¢ludcd tliat tl)e trustees usc of tlic goiiig concern b&%is of accounting in Ihc prcpaiation of tlie financial statenients 1% appropriate. Based on the woi'k we have peiforjiied, we liave not idejitified any Jiiaterial uncertaintie5 relating to ¢v¢nls or conditions that, ijidividually or collecliv¢ly* may ¢asl sigiiificattt doubt on the association's ability lo coiitiiiue a5 a goiiig concern for a period of at least twelve iiioiitlis froin ivlieii die origiiial finaii¢ial slateiiients were authorised for issuc. Oui. responsibilities and the i'esponsibilities of tlie trustees with respect to going con¢ern al'e des¢Kibed in ihe relevHnt sections of this irpoit. Other liiforingtioii 'he tTUStee8 are responsiblc for the other illformatEoii. The other information conipriscs tl)c infortnation included in tlie at)nual y¢vl atlier tl)an tlic financial statements and oui. auditor's report tlieiEoii. Our opinion oli tlie fInle1a1 statelnents. does noi cover ilie otlier informatio&i and, except lo the extent oilierwise expli¢iily staled in our i'eport, we do not expiess any foi'in of assuyance conclusion Iliereon. In conne¢tlOll Wlth our audit of the financial statcinents, oui. iesponsibility is to read the (Jthei. infomiation and, in doing so, consider whetlier the otl)ei' infariiiaiion is rnatei'ially iliconsslelll with the finan¢idl sta¢enienls or oui. knowledge obiaijied ill the audit or otli¢rwise appeal's to be i))8tei'ially t]iisstated. If ive ideiitily such iiiatei'ial in¢oiisisten¢ies oi. slaletiietils or a tiiaterial iiiisslatejiiejil of the otlieT iiifoi'ii)ation. If, based oil tlie woi'k we liave pei'fomied, Ive conclude tl)at there is a malerial Inisslalemenl of tliis otliei. iiifoi'jiiation, we are required to repoit that fact. We havc nothing to report in this regard. Page 5
Butterfield Homes, Wilsden Independent Auditor's Report to the Members of Butterfield Homes, Wilsden (Continued) Matters on whfftch Ive Are required to Yeport by exeeptio We have nothing to ieport in IEspect of tlie folli)wing matters in Irlation to wliich the Cliarities IA¢¢ounls and Report5) Regulations 2008 require lis to repoit to you if, iii our opiniot).. the infom1atioii given En Ihe finaiicial stateintnls is incoiisistertt in ai)y niateTial respect witli Ilie boaiyl repon. oi. suffjcient aecounling records liave not been kepl. oi. the fiiiancial stateiiients ale iiot in agreement witli the acwuntiiig records. or we liave not r¢ceived all the inforniation and expltJnatioiJs we require for oui. audit. In addition, we have nothing tn report iii respe¢t of tlie following Inatter wlieir the Hollging and Regei)ei'ation Act 2008 requircs us to report to you if, in our opinion.. a saiisfactory systeni of control over tssaCtIOnS lias not been maintained. Respon$ibililie$ of trustees As explaiiied more fully in tlie Statement of Responsibilicies (set out on page 4), tlie tiuste¢s members liylio are also the trustees of Ilje association for the purposes of cliarity lawl air responsible foi. the preparativn of the financial stalcments and for being satisfjed tliat tl)¢y give a tl'Lie alid fail. view, and foi. sii¢li int¢i-nal contiDI as the trustees deteriiitne is necessaiy to eiiabl¢ the prepAIBtion of fjiiaiicial statements tliat are free fi'oin n)atei'ial Inisstatement, wheiliei. due to fraud oi. error. In prepai'ing the financial statements, the tTU5tees air respoJsible for assessing the a&%ociation's ability lo continue as 8 going coiicern, disclosing, as aijplicable, Inattei% related to going ¢oii¢ern aiid usiiig the going concern basis of accoiinting unless the trustees either intend io ljquidate the association or lo cease opej'alions, or ljave n() r¢alisti¢ altei-native but to do so. Auditor Responsibilities for tlie xudit of tlie fitaanciAI statements Our objectives are lo obtain Yeasonabl¥ assui?iice aboul ivh¢ilJer Ilie financial slalemeiits as a whole aye free from material Inlsstatemeiii, wlicilicr diie to fraud or error, and lo issue an auditor's repoil Iliat iiicludes our opinioti. Re&wnable as%uraii¢e is a Iiigli level of ass111?nce, but 1% not a guarantee tliat an audit conducted iti accordaiice tviili ISAS (L) will always detect a niaterial niisstatement when it exists. Missiaiemcnt5 can ai'i%e fi'otn fraiid oi. eiror and are Lonsideied nialerial if. individually or in the aggrega, tliey could re&son&bly be expecied to influence the economie dectsion5 of L15ers takeji on Ilie basis of these finaiiGial statetnentS. Irregularities, including fiyud. are instances of noii-eoinplian¢e witli laws aiid Tegulations. We desigii procedures iii liiie with our respot)5ibilities. outliiied abovc, ta detect nialerial missiatement5 in rcspcct of irregulariiies, iiicluding fraud. Tlie extent lo whicli ouj. procedui'es are capable of detecting ii'regulai'itics. including fraud is detailed beloiv.. In planniiig alld designiiig our audi( tests, we identify and assess the risks of Inatei'ial inisslalement wiiliin the finaiicial staternent5. wlietlici. due to fraud or eyroi.. Oui. aeSsment of tliese risks includes consideration of the iiatLEre of tlie it)diislry and secloT. tlie control ciivironment and tl)e biisiness perforrnance along witli tlJe Itsults of our eiiquiries of nianagement. about their ideniificaiEoii and assessnient of tlic risks of irregularities. We are also rcquircd to perform specific pn)cedures lo respond to IlJ¢ I'isk of tnana£eJiient oveiyide. Following Iliis a5sessiiient we considcied Ilie i)ppoitiiniti¢5 and inceiitives that illay exist wi¢liin tlie entity for fi?Iid at]d identified the greatCSt potcntial for fi?ud In evaluating the tangiblc assets. We also obtaiNed ali ujiderstanding of tlie legal aiid regulatory fraiiieworkq that the entity opcixtes in. tlirough discusslons willi directors aiid otlier iiiaiiagenienL ld froni our comtJ)er¢ial knowledge aiid cxpcricncc of tlie sectar in wliich the eiitity oper3tes, lo eiiable us lo ideiitify tlie key laws aiid regulaitons ai)plicable to tlJe ejitity. We focused on specific law5 aiid regulatl0115 whicli we caiisidei'ed iiiay liave a direct material effect oji the fiiiancial sldleiiieiiis OT (lie opcrations of the cntity. i11cliding tlie 14oiising and Regeiicration Act 200£, taxation legislation. data proleclion, anii-bribery. eiiviroijniental and liealih and safety legislation. Page 6
Butterfield Homes, Wilsden Independent Auditor's Report to the Membe1% of Butterfield Homes, Wilsden {continued) We then perfoj'ined aiidi( procedur¢s aftei ¢onsideration of tlie above i'isks which included tlie following.. aliiating the exi4ten¢e and valuation of the fixed asscls, and evaluating the api)ropriat¢iiess and consistency of the depTcciation policies applied., enqiiiring of tiianageii)ent Contning actual and potential litigation and Glaiikns,. perfoi'ining analytical proccdurcs to identify any unusual or unexpected relationsliips that may indicate I'isks of material missralejnent duc to fraud: Irviewin8 coirespolldence with tlie charity's leBal advisors,. adii)g miiiui¢s of meetings of those cliarged witli goveillan¢e' attd in addi'essing ilie iisk ol fraud IliiDugli Management override of. controls, testiiig the appropi'iatene5% of joui-nal enti'ies alid oihei. adjustiijents, assessin8 whethei. tlie jLid8cinents Imade iii making a¢¢oiinting e%tiJnates air indicative of a potcntial bias. and cvaluaiing tlie business rationale of any signifi¢aiit transactions that aye iiiiusual or outside tlie normal ¢ou¥se ofbusiness. All engagement teani nieimbei'g were informed of tlie relevant law5 and regulations and potential fraud risks at the planning stage and remiiided to i'emain alert to any indications of fraud oi. non-coinpliance with laws and regulations throughout tlie audit. Tlie engagement partner ensured tliat the engageiiient teain collectively liad the appropi'iaie ¢onipetence, ¢4pabilities and skills to identify sucli itetns. Their are inliereiit limttatioiis in our audit procedures desci'ibed above. I'lie illoir irinoved that law% aiid regulations are from fiJJancial transactions, Ilie less likely it IS tliat we wotsld becoinc aware af non-compliancc. Auditing standards also liiiiil tlie audit P1CedulES iequired to identify iion-coinplian¢e with law.% and regulatioiis to enquiiy of tlie trustees and otlier management and the ii?spection of i'egulatoiy and legal coiyespondencq if any. Material Inisstatements that arise due to fraud Can be ljarder to detect djan (liose that arise frotll error as they may involve deliberate concealniejit OJ. collusiun. A fiirtlier de4¢TlPtion of oui. r¢si)on.sibilities is available on the Finaii¢ial Reporting Collncil's website at.. www.frc.org.uklauditoi.sresponsibilities. This des¢riptioii fonns part of our auditor'5 report. Use of report Tliis repoil is Inadc solely to the association ti-usiees, as a body, in ac¢ordance with P8rt 4 of tlie Cl)aTilies IA¢couiJts aiid Reports) Regul8tions 2008 2nd section 137 of the Housing and Regenei2tioii Act 2008. Our audit woi'k lia5 been undejtsken so that we niiglii slate to tlie trllstees iljose inattej's we al'e reyuired 10 51at¢ to tli¢m in an auditOlS' and for iio otlier purpose. To tlie fullest extent permilted by law, we do not accept or assiime r¢%ponsibility to anyone othei. than tlie associatioii aiid its tiustees as a i)ody, foi. oui. audit ivoi'k, for this I'epoit, or for t5ic opiiiioiis we have formed. aL£¢ Watson Biickle Lii#ited Slatiitoiy Auditor & Chailered Accountants Bi2dford 2910912025 Date.. Pa8e 7
Butterfield Homes, Wilsden Staten)enl of Comprehensive Income for the Year Ended 31 March 2025 (Including Income and FAxpenditui'e Account) 2025 2024 Note Turnover 30,496 29,493 Adinini5tr&tive cxpenditure 123,1601 120,252 Operatiiig sui-plusl{deficit) Incoine froin fjxed asset investtnejils Interest reccivable aiid similar in¢oine Move1entS itt fail. value orrjnancaI instniment5 9.241 2.822 780 3,084 1,124 1,929 1,556 Surplus far the year 13,473 Total coiilpieljesive iticome (or the year 13,473 14,399 All of the regisleiEd so¢ial Iiousi11g provider's activities dcrive froin eotitinuing operations during the above Iivo periods. Tlie financial statements were appIVed by ilie board and autlioi'ised for issue on .J.g by.. and signed on their behalf Truste Ti'ustee The notes ot) pages 12 to 17 foTm an integral part of tliese fitiaiicial slalen)¢nts. Page g
Butterfield Homes, Wilsden BalAnee Sheet as at 31 March 2025 2025 2024 Note Fixed a$sets Tangible assets Investments 187,259 77,077 194,646 72.303 264,336 266,949 Cui'reiit Assets Debtors Cash at bank and in hand 1,257 69.943 1.952 54,553 71,200 56,505 Ci'editol: Amouiit5 falling due witliin one y¢gr 16,567 (6.075) Net cui'rertt assets 64,633 50,430 Total assets less tui'iynt ligbilities 328,969 317,379 Creditoi's: Amounts falling due after more thAn one year 10 73,4471 75,330) Net gssets 255,522 242,049 Re5eiwes Incoine alld expeiiditure reserve Unrcstricted rcvaluatioll re%tive 233,417 22,105 221,873 20,176 Total i'esei'ves 255.522 242,049 The financial slatenients were appiDved by ilie boai.d and auiliorised for issue on*l. by.. ..Yaiid signed on tlieii. behalf Ti'iistee Th'ustee Tlie iiotes on pages 12 to 17 fonm ali iiitegi?I part of Iliese finaiicial slaiei)ients. Page 9
Butterfield Homes, Wilsden Statement of Clianges in Reserves as at 31 March 202S Income and eXpendItr¢ reserve RevAIugtion reserve Total At l April 2023 Su¥plu51ldeficit) for tlie year Revaluation of investnJenls 221.873 11,544 20,176 242,049 11,544 1,929 13,473 1,929 1,929 TotAI comprehensive iiicome At 31 Mgrch 2024 11,544 23.3,417 22,105 255,522 Tlie noies on pages 12 10 17 foriii an integral pait of tlies¢ financial stateiiients. Page 10
Butterfield Hi)IMes, WiI8den Cash Flow Statement for the Year Ended 31 Mai'eh 2025 Reeorjciliitiori of net movemetht in funds to ntt cash flow fi1 opei'ating ¥ctlvÉties 2025 2024 Nel incoine Investmeiit income Depreciatiuii {Profitl Iloss on revaluaiioii of fjxtd a%set IllVC5tinents Decreasel{increasel in deblors Decrease ill cJEditors 13,473 14,208) 7,387 11,9291 695 14,399 (3,6021 8.058 {1,556) 1842) (1.480) Nei casli tnflaw 14,027 14,977 Cash flow statemtnt 2025 2024 Net cash inflow froim opeiating a¢iivities 14,027 14.977 Returns oji investments 4nd $eryieing offinance Inl¢iEst receivable aiid sirnilar income Otlier income froni fixed asset invesinients 1,124 3,084 780 2,822 4,208 3,602 C#pitAI expenditui'e and fin8n¢i81 investment Pui¢hase of investnients 12,8451 2,592} Inei'eAse iij casli in tlie year 15,390 15,987 RecoiicÉliatiort of net e9sh tloiv to inovement In nct funds Inci'ease in ¢asli 15,390 15.987 Net funds at l April 2024 54,553 38,566 Net funds at 31 March 2025 69.943 54,553 All of tjie cash flows are derived fi1 coiitinuiIig operations dui'ing tlie above two periods. Tlie notes on pages 12 to 17 foi'ni an inlegi?I p8YI of thesc finaiicial st#171ents. Page 11
Butteyfield Homes, Wilsden Notes to the Financial Statements for the Year Ended 31 March 2025 l Aetountiiig policies Gtn¢r91 infvrin4tion The CliltY is & regisleird soctal housing provider, regigtered in England and Wales Cliarity registration nuniljei.: 2251)65 Rcgu12tar of Social Hou5iiig iigi£lTation nuiiiber.. A3623 Alms110use Association memheiyhtp number.. 1354 The addi'ess of the registered offjce is.. 17 1."ariidalc Road Wilsdcn Bradford BD150LW Bg.8i8 of pi'epAratioii statement of tonipliance -riie financial stalcnitnls Iiave been pJEpared in atcoi'ddrtce with applicable a¢counting 5tandLuls including Financial Reportiiig Siandard 102. the Stateincnt of Re¢oiiiniended Pi'actice for Social Housing Piy)vtders 2018, and witli tlie Accounting Direction for privatc r¢gisteied piDviders of social liousing in F.ngland 2019. The fiiian¢ial Slateillents are also prepaird under die requirertients of the Housing 8nd Regcnerntion Act 2008. 'IThe financial stalemtnls liave been prep.ed on a going concern basis uiider tlie Iiistorical cost conventioii, niodified to include certaiii il¢m* at fair value. The registered social housing providcr constitutes a publi¢ benefit entity as defined by FRS102. Tlie si8nificat]t accounlt11g pulicies applied in tlie pirparation of tliese financial %tatement5 air Set out below. These policies liave beeii con51Stently applied to all yea13 presented unless Otherwise stated. The ¢hai'ity's fiinctional and pirsenlation currency is pounds sterling. Si¥nifieAnt judRefftents Aiid estin19t¢s Prepardtivn of ilie financial slateinenis requires Itianagejnent to make significant judgejnents and estimates. The items in tlie frnancial slatejiients where diese judgeinenls and eslin)ales have beell niade iii¢lude'. Maiiagemenl review its estimates of the useful live% of tlie de1)Iclable assets at eacli reporting date. Howevei., by tlieir natuie coiiiponent life cannot be detem]ined willi absolutc cerlainry. Tui'iiover Tumtsver represcnts weekly tiiaiiitenallce charge Ireeivable, includiiig water i?tes iji the year Jiet of losse5 frojn voids, and aniortisalion of governnient grants. SociAI Flousing Grgrtt Social Huusit]g Graiit ISHC,) i.$ receivable from tlie Honies and Coii)niunilies Agency and is utili5ed to reduce tlie capital costs of Iiousing properiies. Tlie SHG is recogiiised in in¢ome on a systematic basis over the expected useful ecoiioniic life of (lie pruperty. Page 12
Butterfield Homes, Wilsden Notes to the Financial Stateinents for the Year Ended 31 March 2025 (continued) Inve.$tment income Inconie is earned from lioldiiig fixed assets for investsjient purposes aiid is recogni5¢d when receivable 2nd Ilie aniount can be nieasured by Ilie cliarity. Iiiteir%t fund8 held on deposit is included wlien I'eceivable and tl)e amount Can be IneasuiEd by tlie chaTIty. Irrecoverable VAT Irrecoveizble VAT i5 cliarged agaiiist tlie ¢ate8oiy of resourees expended for whicli it wa5 iii¢uiI'ed. T*xAlion nie I'egistei'ed social liousing piN)vider is Considered to paqs ihe teqts set out in Paragiapli I Schedule 6 of tlie Finance Act 201 O and tlieiefore it Ineels tl)c definitioll of a chariiable compaiiy for UK corpoj'alion tax pui'poses. A¢¢oi-diiigly, (li¢ Cliarity is poieniially exempt frotn taxation in irspect of income or Capital gdins i'eceived wiiliiii categorie5 coveird by Chapter 3 Pait I l of Ilie Coi"poration Tax Act 2010 or Seclioii 256 of the'faxatioii of Chargeable Gains Act 1992, to tlie exten( tliat such incoille oi. gai115 air applied ¢x¢lJsively to cliai'ilable purposes. TRngible fixed assels Tangihle fixed assets (including social housiiig pi'operties) are stated at cost or deejiied cost less a¢¢uiiiulJted depi'e¢ialion and a¢cun)ulaied inipaii'ment losses. Cosl ilicludes ¢ost5 dÉTe¢tly atti'ibulable to making tl)e as5el capable of operaling as intended su¢h Ili¢ cost of acquii'ing land and biiildings, developments costs, interest cliar8es on loans duriiig Ilie developinenl period and expenditure on improvements. Expenditure oll improvements of Inore than £500 will only be capitalised when it rcsults in irt¢reni¢ntal future benefit8 such as increa5iiig rental income, reducing mait)tenan¢e ¢osts or resulting in a sigiiificant extension of the useful e¢onoini¢ life of tlie property. Deprc¢iation is provided on tangible fixed assets so as to wlite off the ¢osi or valuation, less any estimated Yesidwdl vèlue. ovei. their expected usefiil econoii)ic life as follow5.. Asset elas5 Planl and equipni¢iit Propeities D0013 and windows Depi'eciation method and l'ate IO°kn slraiglit line basi5 50 yeaTS 30 yea15 20 yeais Bathroom 25 yea13 Boilers 15 y¢ai Elcclrical and heating iiistallatioiis 25 yeais Major coniptsiiejits of Iious5i1g properties have been accounted for and depreciated separately from the coiine¢ted liousing pix>i)erty, OVCT tl)eir expected useful econoiiiEc Iivcs. -1lie costs of replacihg these c()niponents arc capilalised i full. I'lie costs of paitially replacing or repairing tliesc coiiiponents al'e chai'ged 10 tlie coii)prelietJsive iiicoi)ie. Investnieiits Inveslineiils are recognised initially at f3ir valiie whicli is normally the tra115action pi'i¢e cxcluding transaction costs. Subsequeiitly. tliey are tn¢a5UIEd at fair value thiDugli thc stalciiiciit of conipreheiisive itiei)Ine tf the shaS al'c piiblicly traded or thcii. fair valuc cali otherwise be nie&quYed I'eliably. Othci. imvestnieiils are nieasuied at ¢ost less itiipaiiinent. FiEIAiicial iiistiwineiits The registered social lioilsing provider only Sias fin8iicial liabilities of a kind tliat qiialify as basi¢ financial irt%tYiiiiients. Basic fiiiaiicial instriiinenls al'e initially r¢¢ogni%ed al transactioli valuc aiid subsequently mea%uiEd at theii. %ettleineiit valuc. Page 13
Butterfield Ilonles, Wilsden Notes to the Financial Statements for tlie Year Ended 31 March 2025 (continued) Debtor$ Debtors are rccogni%ed initially when they become diie al the lrnnsaclioii price. They subsequenily measured at aniortised cost using rh¢ cffective interest ratc method, less piDvision foi. impairmcnt. A PlVIsion for iijipairjiient OF debioiE is es(ablislied when there is objective evidence that the chai'iry will not be al)le lo collect all amounts du¢ according to the original tei'nis of the debroi'g. Cash #nd cAsh equtvalonts Ca8h and Cash eqiiivalcnts eomi)rise ¢ash on hand and call deposits, and othei. slioil-lerin lii8lJly liquid illvestsnent5 tliat are readily convertible to a known amount of cash and are subjeGt to an insi8nifieant i'isk of chaiige in value. Creditoi% Creditors are obligatioiis lo pay for good% aiid services Ilial liave l)een acquired by ilie cliai'ily. Ci'editors are initially rcLowiiscd at tlie transaction price and subsequently m¢asur¢d al ainoitised cost uging the ¢ffective interest meihod. 2 SociAI htsusirtg turnover costs 2025 2024 Turnover Reiils receivable 28,613 27,610 Atnorttsed social housing grdtjt Turnover fi'oTN social housing lettings 30.496 29.493 AdiniJJistrAtivc exptndlturt Managetnenl Service charge costs Routine Inaintenance Depreciation of housing propeTlies 14,4861 (1.196) 110,0911 17.387} {23,1601 (4,1841 11,6081 16.4021 18,058) 20,252) Oper8ting sui'plms on sociAI housing lettings 7,336 9.241 Void losses 403 789 J Ac¢ommodatioii owned And it) mgnagement Nuillbej. of ynlts Number of units April 2024 31 Mai'ch 2025 Housiiig a¢¢tsmniodation P1cge 14
Butterfield Homes, Wilsdeii Notes to the Fiiiancial Statements foi. the Year Ended 31 March 2025 (continued) 4 sui.pls on ordinAI'y activitie5 ].% stiled *fteJ' chArLlIgI{¢Tedltlng). 2025 2024 Audit fees Audit of tlie financial stateiiients Depre¢iation of freeliold pi'opeity l)epreciation of fiytuits aiid fittings Amortisatiot] of goveriimeiit gi311ts 800 6.744 643 775 6,744 11,883 {1,8831 S BoArd aiid key inanagement pei'soniiel ieinun¢r#tion and expetjses No board niembei. or key management personnel eitl)er received or waived any reinuneratiOE) during ihe year. 6 Tangible fixed gssets Laiid buildings Fixture5 & Total C05t At l April 2024 250,899 52.124 3Q3,023 At 31 Mairh 2025 250,899 52,124 303.023 Depreeigti(Jn At l Api'il 2024 Cliarge for Ihe year 59,892 6,744 48,485 643 108,377 7,387 At 31 March 2025 66,636 49,128 115.764 Nel book vAlue At 31 March 2025 184.263 2,996 187,259 At 31 Maicli 2024 191,007 3,639 194,646 Page 15
Butterfield Ilonies, Wilsden Notes to the Fiiiancial Statements for tlie Yeai. Ended 31 March 2025 (eoiitiiiued) 7 Fixed asset iiive5tinents 2023 2024 Listed iiivestmetits 77,077 72.303 Listed inYe5tineiits Listed investments Total Vgluation At l April 2024 Revaluatioii Addilions 72,303 1,929 2,845 72,303 1,929 2,845 At 31 Mar¢h 2025 77,077 77,077 Cai'ryiiig amount At 31 imareli 2025 77,077 77,077 At 31 March 2024 72,303 72.303 The fair value of listed i11vestments is dcteiniiiied by reference to the quoied pi'ice foi. idejitical 2sseis in an active Inai'ket at Ihe balance 51ieet date. HSlOr1eal costs of iiivesttnents £54,97212024- £52,127). 8 D¢bton 202S 2024 Prepayments Other debtors 1,240 1,163 789 ,257 1,952 9 Creditors: #m(JuNts fallinE due wÉtliiii ont year 2025 2024 Graiits oilier crediiors A¢crua15 1.883 1,972 2,712 1,883 1,972 2,220 6.567 6.075 10 Creditol's: amounts f4lliiig due after one yeAr 2025 2024 Grant 73,447 75,330 Page 16
Butterfield Homes, Wilsdeii Notes to the Financial Statements for the Year Ended 31 Mareli 2025 (eoiltinued) The grants are repayable if the propenies are sold. Social Hou5iiig Grartl tolallitig £94,160 lias been rcceived. Tliis will be repaid if tlie properlies are sold. The Social Housiiig Grdilt is beiiig recogntsed iii incoiiie on a sysltjiiatic basis over the expected useful life of th¢ stiwctu¥e150 years). I l Reserves a) Iiieoine and expcnditure reserve Tlie incoine aiid expendilure reserve represeiits tlie cuinulative surplus and deficits tiet of oihei. adjustments. bl Rtvalll#LioiJ reserve Tlie Irvaliialion i'e5e)ve represents the cumulate effect of revaliiations of the fixed assets investments. 12 Relited party ir*nsAttion5 Bknttet'field Ilomes, Ci'05shi115 (Comitton Irnsteesl At tlie balance sheet date the aniount due to Buttei'field Homes. C.rossliills was £1,695 {2024- £1,695}. Butterfield Homes, Cottingley (Coiiinion trustee31 At tlic balance sheet date the amount duc to Butteifield I lomes. Cottiiigley wa8 £27712024- £2771. The aLK)ve ainounts are inkrest free. Page 17