Charity iegistration iiuniber.. 226852
Regulaitsr of So¢ial Hou5inu I'e(Tistraiion nuniber.. A3825
Aln151iouse Association nienibei%liip number: 1353
Butterfield Homes, Cottingley
Annual Repo¥t and Fil￿t]cIal Stateinents
for tlie Year Ended 31 Marcli 2023

Butterfield Homes, Cottingley
Coiltents (continued)
Board Report
1103
Independ¢nL Auditors, Repoit
4106
Siatement of Compreliensivc Incoine
Balance Slieet
Sialetiieni of Clianges in Reserves
Cash Flow Stateincnt
10
Notes to the Fiiiancial Slaienieiits

Butterfi¢ld Homes, Cottingley
Board Report
Tlie trustees present the annual iepoit together with tlie financial slatemenis of ¢lie association foi. tlie year ended 31
Maycli ?023.
Structuyey govti'iiAiice aiid nianageniertt
The cliarity 15 regulaitd by a Declar8tion of Trust dal¢d 7 October 1935 2nd a S¢lieiiie dated I l May 1990.
'rhe ti'iistees held foul. niceting5 diii'iiig the year and i'einain the owners of six dwellitLgFS at Cotlingley Mooi. Road,
Cottirtgley. Bingley BD16 1 SD. Mark Silvei. was again re-ele¢ied foi. the yeai. as Cliair in f¢biwaiy 2022. Aiiiy Bootli
id Siiiion Walis resigiied as truslees duriiig tlie year but Reveret)d Mik¢ 0￿¢11 was appointed reducing the iiuniber of
trustees to 6.
All iieiv tiusiees air giyeii ali iiitroduction to Ilie ivoi'k of the iyust by existiiig (I'uslees and are also provided iviili
Cliai'ity Corntni5sion publica¢ioii CC3 '1'he Essential Ti'ystee.. what you need to know, and the Cliariiy Guvei'nance
Code.
A new cleil(, Sandra Haigli, was appointed iii June 2022 but re5igiied at the end of June 2023. Another clei'k is currently
being souglii.
The trustees continued with their progranirne of improvement and modeinisation of t]ie All￿Shou$eS by iipgrading units
wlieth Appropi'iate. There were iio niajor repairs lo the pi'opei'iies dui'iiig tlie year.
Trustee5 %Llld officer$
Tl)e Irustees and officei'5 seiwing during ilie year aiid since tlie year eiid weiE as follows..
Trustees..
Mr Mark Silver (ChaiTI
Mrs Aiiiy Booth (i'esigned O Septeinber 20221
Mi. Albei't Pratt
Mr Sinion Watt5 (resigned 6 January 20231
Mr Alisiair D(Kheity
Mr Peiei. Farp
Mrs Helet) Philips
Reverend Michael Green {appoinied 9 Februaly 2023)
ObJeetive$ Aiid Activities
Tlie tswsteeg reniaii) committed lo tlieir aim of providing a Iiigti standard of aceoiminodaiion and comfort at ali
affoi'dable ￿¢klY ¢onti'ibiilion (£91 per week from Api'il 2019) and to compete witli othci. social Iiousithu provideis in
suI)plyiiig comparable It)odern facilities for their resideiits at a loivei. weekly cosi. Decisions al'e niade by il)e Iruslees on
a majority basi5 Wlth the Chaii. Iiaving a casting vote in Ihe evetjt of a tied vote. Foi. there lo be a quoi'uin tlie iiuimbei. of
Éi'ustees present should be four aiid #ll Iiieetings til the year were quoi?te.
Tl)e ti'ustees conLiiiue lo liaise witli Ilie Local Autlioyity seivice d¢parlniciil8, tlie Alnisliouse Association. tlie Honie aiid
Conii?iiin￿tlCs Agency and Ilie VOA wlio liave Yeplaced tlie Rent Service for tlie piijpose of assessing ilie weekly
Inaiiiieiiaiice eonlribution. Tlie VOA reas5e5sed the WMC. at £108 per week in Febivo¥y 1019. Tlie ti'ustees are keenly
aware of tlie iieed to csisui'e a warin, 8afe. and coimfottsble eiivirojiinenl foi. Ilie residetsts utider Ilie Deceiil Hoines
Standards aiid will coiiiiiiue to Inake iinpiDvemeJils wlJicS1 enliaiice eiiergy saviii(t aiid lielp to reduce resideiits, heating
¢ost5.
Page I

Buttei'field Homes, Cottingley
Board Report (continued)
Public benefit
The Ti'ustees pay due regard 10 tlic chaiiiy Commission guidaiice oil Public Benefit and belteve that tlie provision to
social liousing wtthiii the local conimviiity coiifom15 Wlth tlieir guidance.
VAlue for money
The li'llstees are niiiidful of tlie t)eed to obtain value for iiioney itt all Iransa¢iions enteied iiiio on belialf of th¢ charity-
Wlien major works ait uiideitakeii a competttive render is carried out. Tlie fi'ustee5 regularly ieview the investiiieiits to
ensure tliey Still acliieve a good i?te of returii.
Fiiiancisl i'evlew
Tlie trustees al'e pleased to report a surplus for tlie year of £7,555 {2022 £20,995). Tlie surplu5 has been i'educed on
aceounl of additioiial adJ]iiJiistrd¢ive expenses, mainly ¢lerks fees. property repairs and a f811 in the valve of tlie
Policy oil reserves
The Tiwsttes have reviewed the Cliai'ity's needs foi. the reseives in line with tlie guidance issued by the Cliarity
Cominissioii aiid ¢onsidei' it prudent that Irsei'v¢5 sliould be sulyicient 10 avoid ihe iie¢essity io realised fjxed assets.
The Trustees ale ¢oMfident that future income will enable the Chai'ity to Ine¢l its fore5ceable Jieeds ot) the basis of
planiied expeiidiluir.
Thc level of i'eserves at 31 March 2023 was £224,398 {2022 - £216,84J). After taking into ¢onsideJ7tion the aimount
tied up in fixed assets and thc associated gi'ant which is beijig aii)oitised over the life of Ilie assets the amount available
iti fre¢ reserves at tjie year end was £l13.795.
Tlie internal coiitrols of the cliarity are IEview¢d and t)ionilOI'ed anÈiually. A new Inajor risk lias beeji tncountered by the
cliai'ity in tlie foi'ni of th¢ CO1￿11aviruS paiidenii¢. To date tl)is has liad 110 Ihalerial cffect oli ilie incoiiie of Ilie clia¥ily as
all tlie propeities reniain occupied dod the rents I￿ve been ¢olle¢¢e(I by standing ordei.. Tlie invcstinent in￿1￿¢ has not
been materifilly reduced on a¢¢oui)t of tlie paiideinic atjd ali additional £40,000 lias been ti'ansferiEd iiiio tlie investincnt
portfolio out of t]ie cuirenl account. It has been diffi¢ult for mucli of Ilie yeay to oi'Baiii5e irpair work ai the piDperties.
Page 2

Butterfield Homes, Cottingley
Board Report (continued)
StAtemeDt of Boards Responslbilities
Tlie Board is responsible for preparing tlie R¢port and t]ie financial sthienieijis accoi'dan¢e i¥iih tlie applicable law
and regulations.
The iegistered social liousiiig lcgislation require tlie Board to prepaye financial staleinciits for eacli financial year wliicli
give a ti'ue aiid fair view of (lie state of affaiT% of tlie association aiid of its inconie and expendituiE for tliat pei'iod. Iii
prepai'inu tliese financial stateniciits. tlie Boayd is required to-.
select suitable accouiiting policies aiid IlJ¢ii apply ihem coJisisteiitly*
n)ake jiidgeiiients and estiimates that are reasonable and prudenL
stale wheiliei. appli¢8ble accounting standards liave been followed, subject to any Iiiaterial departures disclosed and
explained in tlie financial sfateiment%- and
prepare the financial staleii)eJils on th¢ goiiig ¢oiicein b￿1$ unless it is inappropriate to presunit tliat tlie association
will ¢otilillue in business.
Tlie Eloard is respon%ible foy keeping propey a¢¢ouiiting recoi'ds that disclose willi IEasonable accuiacy at any lime Il)e
financial positloll of Ilie association and enable Ihein ￿ ensuie tliat tlie fillancial statenienls ¢oiiiply with tl)e Housing
and Regeneratioii Act 2008 ai)d ilie A¢couiitit)8 Directioii for PTivale regislered provider5 of social lioiisiiig ii) Ciigland
2022. It has general IEsponsibility for taking reasonable steps to 5afegu#i'd the assets of the association aiid to prevent
and de*¢t fi'aud 2nd otlier irregularities.
The irnstees aiE responsible hr ihe maintenance and integi'ity of the ¢orporaie aiid fjnancial inforit)ation itk¢luded on tlie
charitable compan) s website. Legislalion goveYnin8 the pirparation and dis$emiJiation of finaiicial statements may
ditTer fi'om legislaiioii in otlier juj'isdiclioi)s.
Appix>ved by the Board on 8 January 2Q24 and signed on its b¢Jiaifby'.
Mi. Alisia
Trustee
ocherty
Page 3

Butterfield Homes, Cottingley
Independent Auditor's Report to the Members of Butterfield Homes, Ctsttingley
Opinlon
We have audited the financial statements of Butteifield l-lomes, Cottingley Itlie 'associaiion'} for ilie yeai. ended 31
March 2023, which coniprise tlie Slateii)ciit of CoiMprelien8ive Income, Balante Sheet, and Notes to the Financial
Siatenients, ii)cluding a sumiiia¥y of Significant ac¢ou11ting policies. The finai)¢ial I'cporling frainewoik that lias been
applied Eli their preparation is applicabl¢ law and United Kingdoni Accounting Standards, in¢ludiiig Fiiiancial Reporting
Staiidai'd 102 Tlie Fiii&iJcial Reportijig Standard applicable iii Ilie UK and Republic of Ireland (Uiiited Kijigdom
Generally Accepted Accounting Practice).
In our opit]ioJi the financial statemet]ts'.
give a true aiid fail vitw of tlie state of Ilie association's affairs as at 31 March 2023 and of its incoming resourccs
and application of I'esou¥¢e5, iiicluding ils inconie and expejidilure, for the yeat tli¢￿ ended,.
have been properly prep￿rd in Accordance with Uniied Kingdom Generally Accepted Accounting Practice. aiid
have been pi'epared in accordance witli the iequii'eineiits of Ihe Cliai"ities Act 2011, tlie Housing alld Regeneration
Act 2008 and the Accounting Dii'¢ciioii foi. pi'ivate rc8isic¥ed provid¢i's of social liousing in England 2019.
Basi$ for OPTnioii
We conducted our audit iii accordance ivitli Iiitei'iiatto&ial Siandgrds on Aud2tin£ IUKI (TSAS IUKII and applicable law.
Our iesi)onsibilities under those *iaiidards are fui'ihei. des¢i'ibed in the audiloi. iespoiisibilities for ilie audit of tlie
financial statements se¢tiLin of oiii. Irw>rt. We are iiidependetit of Ilje association ii) accordance with the ethical
reqiiireinents that are ielevant to our audit of the financial statenicnts in the IIK. including the FRC'S Eiliical Standard,
and we fulfilled oui. otlier ethical reswnsibilities in aecoi'dance with these requirements. We believe that ihe audit
evidence we Iiave obtaiiied is sU￿1¢1¢1)l aiid appropriate to provide a basis for our qualified opinion.
CoRclllsion$ r¢l4tiiig to going concern
In auditing tlie fiIiaiic￿aI sialenieijts, we have coneluded tlydc tlie ti'ustees use of the goiiig conceiii basis of accounting in
tlie prepaiatioii of tlie fjnancial staieiiieiils is appiupriaie.
Based on tlie ivoi'k we have performed, we havc not identified aiiy 11)ateTial unceitainties relalijig to events or conditions
(hau Iiidividually ur collectively, may cast significant doubt on the as50cÈatioJi's ability to contiiiiie as a going ¢onr¢rn
for a pei'iod of &t least Iwelve montlis froni ivheii the oi'iginal financial staieiiieiits were euthorised for issje.
Our responsibilities and the resw)nsibilities of the trustees witl) respect to going concern are described ill the relevant
seciions of ihi5 repoit.
Otlier infoi'mAtion
Tlie Imstee5 air resyonsible for tlie otlicr infoi'iiialioji, Tlie oil)ei' infoTinatioJi cojiiprises tlie iiiformatioii included ii) the
anniial report, other ilian the financial stateiM¢nt5 and oiir auditoj s i'¢poit iljei'eon. OUJ. opiiiion on the financial
statemeiits does not covet tlie otlier infoilnation and. except to the extejit otlierwise explicitly siaied iii oui. repojt, we do
nol expi'ess aiiy foi'm ofas5urancc coticluqioii tliereon.
It) ¢oiiiieclioii willi oiir aiidil of Ilie fiiiaiicial statements, our Irsponsibility is to Yead the otlier infoiniatioii and. in doing
so. considei. wliethei. Ilie otlier iiifoi'iiialion is iiialei'ially iiiconsislent wi¢li tlie financial staieiiienis oi. oui. knowledge
obtained irt tlie lludit oi. otlieiwise ai)p¢ars to be iiiatei'ially I￿ls$tated. If w¢ idenÉtfy sll¢li Inatei'ial incoJisisteti¢ies oj.
appaiEJit i)iateri&l Inisslatenienis. we are requiird to deterintiie wh¢iher there is a iiiateri21 mis51aieiiient iii Ilie fitiaii¢ial
stateineiits OT a iiiaterial misslatenienl of the other inforiiiaiioi). If, based oil tlic work we liave pei'foi'iiied, we ¢oiicliid¢
We liave noiliiiig to Irport iii tliis regai'd.
Page 4

Butterfield Homes, Cottingley
Independent Auditor's Report to the Membtrs of Butterfield Homes, Cottillgley (tontinued)
matte￿ on which iwe ait requii'ed tu repoi't by exe¢ptÉoii
We have notliing to Irport in respect ofthe following matters in relatioii to ivhi¢h the CliJr&ties {Accounts aiid Reports)
Regulations 20Q8 Yequire us to report (o you if, in ou¢. opinion..
tlie ii)foi'inalioii given iii tlie financial slaiements is incoiisisteiit in any m8teYial respeci witli tlie board report. Oi.
sufficieni ac¢ounting IE¢ords liave not been kept: or
tl)e fijiancial statements ai'e not iii agreenient witli rlie occi)unting records.. oi.
we liave not received all the inforination alld explanatioiis we iyouii'e for our audit,
In addilioIi, we liave ni)(Iiing to rep)rl in Irspect of tlie folloivEng maitei. ibthere the Housing and Regeneration Act 2008
requires U5 to report to you if, in tsuy opiiiion..
A satisfactory systeni of eonlrol ov¢i' trallsa¢tions has not been Inaintained.
Rtsponsibililies of ti'ustee5
As explained I￿ore (ully in the Staleinent olRestK)nsibilities (set out oti page 31, tlie ti'uste¢5 rneinb¢rs (wlio are also tlie
tiwstees of the association foi. the purpoges of chai'ity lawl are iespojisible for the prcpaiatioii of tlie financial stateii)ciils
aiid for beijig satisfied tliat tliey give a ¢i'ue and fail. vieiv, and for such internal Control as Ilie ti'ustccs deteTmine is
necessary to eiiablc tlie preparation of finan¢ial $iatemeiits Iliat are Iree fitsin iknaterial Inisstateni¢nt, Ivlietlier due to
fiaiid oi. ei-ror.
In pieparing tlie finaiicial stateiiiet)ts, tlie tiwstees are responsible for as5es5iiig the association's 26ility to conÉinue as a
goiiig ¢oneern, disclosijjg, as applic&ble, matters ielated to goiiig coiicern and usiiig tlic going concern basis of
accounting uiiless tlit tiwstees eitlier intend ¢0 liquidaie the a8%0ciation or to cease operations, or liave Jio reali5(ic
altcinative but to do so.
Auditoi. Responsibiltties for the audit of the fin%nci&l stAtements
Our objectives al'e to obiain r¢asoiiable assurance about whether ¢lie finan¢ial $lalements as 2 whole ale free from
Inalerial iiiisstateinent, wlietlier due to fraud or error, and to issiie an aiiditor's report tl)at iiicludes our opinion.
Rea%ona61e assuyaiice is a liigl) level of assuiaiice, but is not a guai'3ntee tliat an audit conducted in accoi'daiice witli
ISAS {UK} will always detect a Inatci'ial mis5taienienl wlien li exists. Misstatejiients can arise froii) fi'dud or ei'roj. and
ail considered iknatei'ial if. individually or iji Ilie aggjregjate, Iliey could ieasonably be expected lo iiifluenc¢ tlie e¢onoJiiic
decisions of users taken un tlie basis of Ihese fitiaiicial stateinenls.
Ii'i'egLElarities. including fraud, al'e instaDce5 of iiot)4omplian¢e wth laivs 211d rcgulatiotis. We desigii piD¢eduYes in liiie
with our responsibilities, outlined above, to dctecl material rnissratemenis in respect of ii'j'egiilarilies, in¢liiding fralld.
The exleiit to which our procedures aye Capable of detecting irregulai'ities, includiiig fraLid is detailed below..
In plaiiiiing aNd designiiig oui. alldit tests, we idciitify and assess tl)e risks of Inatei'ial niisstatement wiiliin Ilie fitiancial
slatemeiits. wl)etlier due to fraud or eiyor. Our assessnient of these risks iiicludes considci'ation of tlie iiatuye of ilie
industiy and sectoi., tlic cont¥ol enviiDninent and tlic bLi8iness pei'forinance along with tli¢ resLilts of our enquiries of
manageinent, about theii. own identification and assessinent of tlie i'isks of ii'regularities. We aiE also requiird to
perfoi-m specifi¢ piDceduies to respond to Ihe I'isk of iiiwiagemeiil override.
Following Iliis assessiiieiil we ¢oiisidered tlie oppoituiiitics and iiiceiitives Iliat may exist witliin tlie entity for fraud and
identified Ilie greatest potential for fraud In evaluatiiig tlic tangiblc asscts.
We also obtained ah undei'standing of the legal and IEgulatory franieworks that tlie eniiiy operates in, through
discussi0115 Wltli trusiees aiid otlier nianageiTrieiit. aii(l (rot)i oui. ¢oiiiiiiercial ktiowledge and experieii¢e of tlie sector tii
wliicli the eiitily opetaies, to eiiable us to ideiilify tlie key law5 and r¢gulatlOllS applicable to tlie eiitity. We focused on
specific laws aiid regulations wlii¢li we tonsideird iiiay liave a direct iiiaterial effect oli tl)e financial stateiiieiits or the
operations of tlie cntity, iiicliiding tlie Housing and Regeneiation Act 2008. taxation legislation, data protection,
anti-bribery, enviroiiin¢nlal and hcaltli aiid safety legislation.
Page 5

Butterfield Homes, Cottingley
Independent Auditor's Report to tlie Members of Butterfield Homes, Cottingley (eontinued)
We tlien perforined audit proccdures after ¢orisid¢ratioii of tlie above Jisks wliicli included tlie followiiig-.
evaluating tlie existence and valuation of tlie fixed assets. aiid evaluating ihe appropriateness and coiisistency of the
depreciation policies applied-
cnquiring of management concei'ning acliial aiid potential litigation and claiins;
perforiiiing atJalyti¢al procedures to identify any unusu81 or iinexpected IElationships tliat niay ind¥cate risk5 of
reviewing coriEspoiiden¢e ivitli the Charity's Icgal advisors.,
reading iiJinut¢s of11)eetings of tliose ehai'ged witli governaiice: and
in addrcssiiig tlie I'isk of fi?ud IliiDiigh nianageiiieiit oveiyide of coiitrols, 1¢stiii8 tlie appropridleness of jourNal
entries and otlier adjustnieiits. assessiiig wliether the judgemei115 rnade in iiiaking accounliiig estiii)ales are indicative
ora potetitial bias. at)d evaluatiiig tlie busitiess i?tioiiale of any significant iiansactions that are unusual or outside
tlie iiormal Coui'se olbusijiess.
All cngagement teaikn Jnembei's weiE infi)tThed of ilie relevant laws atid iegulations and potential fraud risks at th¢
planning siage and r¢miiided to rcn)aii) alert 10 aiiy indicat1O115 of fraud or non-compliance with laws and regulations
IlirougIioui tlie aud&l. The engagetiient paytner eiTrsuTed tliat th¢ eiigageiiient tean) collectively liad tlie appI￿1)rI#1e
¢ompetence. capabilities and skills to identify sucli itaiis.
There are iiilierent lirnitatioiis fli our audit pl￿ted￿leS desci'ibed above. Tlie moi'¢ reii)oved that laws aijd re8ulalions are
froni financial transactiotis, the less likely it is that we would becomt aware of non-coinpliaiice. Audiling standards also
Itjiiii Ihe au(lit procedures requiyed to identify non-compliaiice willi lai¥s and regulations to cnquiry of the Iiyslees and
othei. niaiiageniet)t and the inspe¢iion of Tegulalory and legal ¢orrespottdence, if aiiy.
Matei'ial misstatenients tliat ai'ise diie to Fraud Can be hardei. lo delecl t[￿n tliose ihai arise froin ei'ror as they Inay
involve deliberate coiicealinent oy ¢ollusion.
A fuitl)er descriprion of our respoiisibilities is available oil the Fiiiancial Repoiliiig CouncTI's website at..
Tr￿v.fI￿.0yg.￿klaudit0rslCsponSibIlitIcs. Tliis desci'iptioii forins part of oui. auditor's report.
Use of repovt
This rew)Il is Inade solely lo tlie associalioii Iruslees in accordance witli Pait 4 of Ilie Cliarities (Accounts aiid Rep(Ji'isl
Regulations 2008 and seciion 137 of tlie Hoiising and Re8eneiation Aci 2008. Oiir aildit work has been underiaken so
thai we nii8lit statc to ihe triisiees th05¢ Inatters we air J'cquired to 51ate to theni iii ali auditors. i'eport aiid for nu otlier
PUIP05e. To the fullesi exieni permitted by law, we da not a¢¢ei)t or assutne IE5poiisibility to any()oe other Ihaii the
association and its trustees as a body, for our audit work, for tli?s report. oi. for the oiiinions we have foinied.
.W.LWD..ri..... GLLcLLLo LLrnLtod
Waisoii Buckle Limited
Siatutoiy Auditoi.
Bi'adford
8 Jaiiuaiy 2024
Page 6

Buttei'field Homes, Cottingley
Statement of Comprehensive Income for the Year Eilded 31 March 2023
(Including Income and Expenditure Account)
2023
2022
Note
Turnover
30,846
30,911
Administrative expenditure
24,302
{14,0671
Operating sui'plus1{defLChtl
In¢oiiie frotii fixed asset invesinients
Inieresi receivable and sijnilai. iiicome
Mov¢ineiit5 in fair valiie of financial instruments
6.544
2,731
180
11.900
16,844
1.084
3,058
Surplus foi. the yeai.
Total compi*hensive incoine for the year
7.555
20,995
7.5S5
20,995
All of the regi5teTed 50¢i0l housing providerfs activities derive from Cotitinuing operations during tlie above two periods.
Tlie finaii¢ial statements weir approved by the board and allthorised for issue on 8 January 2024 and signed on tlieii.
behalf by..
Trusiee
Trustee
The notes on pag¢s I I to 16 foyin ali it)te¥ral pan of tliese ftnaticial slatenients.
Pag¢ 7

Butterfield Homes, Cottillgley
Balance Sheet as at 31 March 2023
2023
2022
Note
Fixed A88ets
Taiigible assets
Investnieiits
213,663
75.494
220,510
74,958
289,157
295,468
Current Assets
Debtors
Cash at bank aiid in hand
1,498
38,519
2,120
26.2Q9
40,017
28,329
CTeditors: Amounts fklling due ivithin one year
Net eui'vent Asset5
14.170)
13,8941
35,847
24,435
Total #s$¢ts less current liabilities
325,004
319,903
Cieditors." Anioun(s filling due aftei. nioi* thali one yeai.
Net Assets
10
1100,6061
1103,060)
224,398
216.843
Funds of the issociation:
Reserves
Inconie and expenditure reserve
Unrestricted revaluation reserve
216.528
7,870
207,073
9,770
Total i'eserve$
224,398
216,843
Tlie financial 5tatemeiits wei'e apptoved by tlie board and 8uiljoi.ised for issue on 8 Januaiy 2024 aiid signed oil tlieir
behalf by..
Trustee
Twstee
Tlie iiote$ on pages I I to 16 foi'in an integral pait of these financial slatejnenls.
Page 8

Buttei'field Homes, Cottingley
Statement of Changes in Rese￿eS as at 31 March 2023
Income and
¢xpenditllie
re5oi.ve
RevAluAtion
resei've
At l April 2022
Surplus/{defieit) for tlie year
RevalLiation of investnieEJts
207,073
9.455
9,770
216,843
9,455
11,900)
7,555
11.900}
11.900)
7,870
Total eomprchen5ive incom¢
At 31 MRrch 2023
9,455
216,528
224,398
The notes on pages I I to 16 forn) an inte&>ral part of Iliese fit)ancial sta(einents.
Page 9

Butterfield Homes, Cottingley
Cash Flow Statement for the Year Ended 31 March 2023
Reconciliation of net mov¢m¢nt in funds to net easb flow froin operAting 9Cttvitles
2023
2022
Net iiicome
Investment income
Depreciation
{Profitl Iloss on revaluation of fixed as5Ct investinents
Decrease in debtOlS
De¢Tease in creditois
7,555
20,995
(1,0931
7,777
(3,058)
27
(2,2741
7,777
1,900
622
12,1781
12,765
Net cash inflow
22.374
Cgsb IIOW 5tatetRent
2023
21122
Net cash inflow fron) opcratillg activitEes
Return$ utb invtstmenls and servieing of finance
Interest rc¢eivable and similar irtcoine
Ot]ier income froni fixed asset itiv¢stments
12,765
22,374
180
2,731
1,084
2,911
1.093
CAI)ital expeiiditure arid finaiJeiAI investment
Purcliase of tangible fixed asseis
Purcliase of itJv¢stin¢nts
{930)
2.436)
{40,8061
13.i66}
(40,806
liicre&sel{deciea$e) ID ea$li in the yeHY
12.310
117,339
Reconoiliaiion of net ea$h tlow to moveintnt in net fuiids
Increasel{decreasel iti cash
117.339)
Net fi]nds at l April 2022
Net fuiids at 31 Marcli 2023
26,209
43,5411
38,519
26,209
All of tlie casli flows are derived fibm coiitinving opei'atioiis during the above li¥0 periods.
The iiotes on pages I I to 16 foriii an intcgial pai1 of tliese financiAI slaleinents.
Pag¢ 10

Butterfield Homes, Cottingley
Notes to the Financial Statemellts for the Year Ended 31 March 2023
l Accountillg polleles
Genernl informatlon
I'he cliarity is a regsstered social housing provider, registered in England ANd Wales
Cliarity regisiration nuinber.. 226852
Regulatoi. of Social HousiiJg registration nujnbei.: A3825
Alnishouse Association nieinbersliip numbev.. 1353
The addvess of tlie registered office is=
17 T ariidale Road
Wilsdeii
Bradford
BD15 OLW
BAsis of preparatlon #nd statenitnt of tornpliAnce
Tlie financial staie11ients liave beeti prepared in aceordaiice Hrytli applicable accounting standards including Fiiian¢ial
Reporting Stahdai-d 102, tlie st*el￿ent of Reconitneiided PTa¢iice foi- Social Housiiiui Pi'ovideys 2018. and willi the
Ac¢oiinting Directjoll for private Irgistered pi'oviders of soeial housingy in England 2019. The finan¢ial st2teinettts are
also piepar¢d ut)der the requireiijetjts of Ilie Housiiig dnd Regeneration Act 2008.
The financial stateniciits liavc beeii prepaiEd on a (roiiig concern basis under tlie histoi'ical cost coiiventiOlI. modified to
include certaitt iteit)s at fail. value.
The iegsstered social liousing provider constitutes a public benefit entity as defined by FRSIO2.
The signifE¢arJt a¢covIitiiig polteies applied in Ilie preparation of these finan¢ial stateni¢nts are set out below. These
policies liave beeii c011515tently applied lo all years presented uiilcs5 OtlieiTrvi5e Itated.
The charity's funclianal and preseiitation cuiyency is wunds steyling.
Slgnifi¢ant judgeinents estiillates
Pieparation of Ilie fiiiancial staleinents requires Iiiaiiagenient io ni8ke siunificant juduements and estim8¢es. Tlie items in
t13e fiiian¢ial slai¢iiicnts wlieie tliese judgeinents and estimaies liave been Inade include..
Depreciation
Maiiageni¢nt review its estimates of the useful lives of the depi'eciable assets at eacli I'cporting dale. However, by tlieii.
Iiature wtiiponent life caniiot be detei'iniiied witli absolute cerlatnty.
Turnover
Turnover I'epTesents weekly ni8inteii8nce charge receivable, including Wdtei. rates in tl)e yeai. nel of losses froim voids,
and ainortisation of goveriiment grants.
SotiAI Housing Gi'xiit
Social Housing Graiit ISHGI is receivable fiDin Ilie Hoiiies and Comillullllies Ageiiey ￿ld is utilised lo reduce the
capital cost5 of liousing piopeiiies. The SHG is Ircogiiised in iiicoi))e oil a %ysteittatic basis ovei. the expected useful
ecotiojnic life of tlie propertie5.
Pagell

Butterfield Homes, Cottingley
Notes to the Financial Statements for the Year Ended 31 March 2023 (coi)tinued)
Investnient income
liicojiie is earlled fix>iii liolding fixed assets foi. investment purposes gnd is Ircognised when receivable and tlie aMOUlIt
Interest on funds lield on dep(Jsit is included ivhen Irceivable aiid the amouttt cali be measui'ed by Ilie cliai'ity.
li'recoverable VAT
Irrecoverable VAT is charged against the ￿tegOrY uf resources expejided for ivhi¢h it was ineurred.
Tayation
rhe registered social Iiousing providci. is considei'ed lo pass ihe tests set oiit in Pai'agyapli I Scliedule 6 of tlie fiiiance
Aci 2010 and Ilierefore it meets tlie definition of a chai'itable comp*ny for UK cnrpoiatioii lax puiyoses. Accordingly.
Ihe Cl)arity is poteiitially exenipÉ froni taxation in iespe¢i ofiiitviiie or capital gains received within categories covered
by c.hapter 3 Part I l of Ilie Coi'poratton Tax Act 2010 or Sectioii 256 of tlie Tayalion of Cliai'geable Gaills Act 1992, to
the cxtent tliat sucli income or gai115 are applied exclusively to cliai'itable purpose5.
TAiigible fixed gssets
Tangible fixed 8.8sets (including social liousing properties) ai'¢ slated at Cost ¢Ji' deemed cosi less accuniulated
depirciation and accuillulated iinpaiimeni losses. Cosi includc5 Costs dii'ectly atti'ibutable lo Inaking tlie a5sel capable of
upei7ting as intended such as ilie cost of acquii'ing laiid atid buildings, developnients C05t5, inleiEst chai'ges on I02ns
during tlie developnienl period and expenditUlE Oti iiiiprovements. Expenditure on inipi'ovenients of nioi'e thali £50Q
will only be eapiialised ivlieii it resiilts in inerenieti¢¥l fuiure benefits sucli as increasing rental income, reducitsg
Inairtiertan¢e msts oi. resultiiig iii a significajii extejisioii ot Ihc useful ecoiiomic life of tli¢ property.
Dcpreciation is i)rovid¢d on laTi8ible fixed assets so as lo write off tlie cost or valllatioii, less any estiniated residual
value, over theii. expected Useful e¢onoini¢ life a5 follows..
Asset clAss
Depreelxtion thethod And l'ate
Plant aiid equipmeiit
lo￿/0 Straight line basis
Properties
50 yeai's
Doors and windows
10 yeais
Ki(eheiis
20 years
B8tlii'(x)ni
25 years
Boilers
15 years
Electrical and heating iJiS￿lIatIOnS
25 years
Major eon)ponenis of housing pJx)perties have been a¢¢ouiited for and depreciated sep8rgtely from the colliieeted
l)ou%iiig pixJperty, ovei. tlieii. expected usefiil eeojiomic lives. Tl)e ¢OSls of replaciiig tliese coiiipoi)enls are eapitalised in
full. Tlie cost5 of paTlially Irplacing or repairIng tliese ¢oiMponeiits air cliai'ged to ¢lie ¢on)preliensive ittcoiiie.
lrtvestments
Investiiients are recognised initially at fair value iyliicli is iiornially Ilie ti?Iisact￿oI7 price excludinu tiai)saetion Costs.
Subsequently, Iliey 2re Jiie&siired at fail. value tliroiigli Il)c slaleJi?eiil of ¢oiiipreliensive income if Ilie sliares are publi¢ly
ti'aded or tlieii. fail. value can otlierwise be mcAsiiJrd reliably. Otlier inveslinents are Jneasui'ed al eost less impaiiYtLent.
Basic linancial insirunients al'e i*iitially L'ecogniscd at tixnsa¢tioii value at]d subsequently measur¢d ai tlieir 5ettl¢iiienl
Page 12

Butterfield Hoines, Cottingley
Notes to tlie Finailcial Statements for the Year Ended 31 March 2023 {con¢iJ)ued)
Debtoi¥
Debiors ale recogiiised initially ivlien Iliey becoine due at Ilie tratisaction price. Tliey are subseqiiently IiieasLlI'ed ai
ariiort15ed cost usit)g tlie effective interesl rate metliod, Icss pi'ovision foi. li￿paI1'niel1l. A piY>¥ision for iiiipairrnent of
debtor5 15 establislied when tlieir is objective evidence that the cliayity will not be able to colle¢t all ainounts due
A¢¢ording to the origii)al ternis of the debtors.
CRsli aMd cash equivilents
Casli and ¢asli CqLiivalenis coinprisc casli on liand and call deposits, aiid oilier slioit-teriii higlily IiqLiid Investi￿ents that
are readily convei1ible to a known ait)ourtt of casli aiid ale subje¢t lo an insignificaiit risk of ¢liange in value.
Creditors
Creditors arc obligations to pay foi. goods and servi¢es that have been acquired by the charity- Crcditois al'e initially
recogiiised at tlie tiansaction price and subscquently measured at aimortised cost usiiig the effective interest method.
2 Socigl liollsing turnover Aiid costs
2023
2022
Tui'novei.
Reiirs receivable
Otl)er income
28,392
28,392
65
Amoilised social l)ousiiig gi'ant
2.454
2,454
Tui'novei. from soclal hou$St)g lettlng$
30,846
30,911
Adminis¢rAtive expenditure
Manageinertt
SeivTce cliaiEe Costs
Routine iiiaintenance
Dep¥eciatioJi of liousing pi'opalies
Gi'ants to individuals
(7,083)
13,145)
{7511
12,3941
17.777)
(7.1291
(7.7771
(1.500)
24,3021
{14,0671
Operxilng surplms on social housiiig lettings
6,544
16,844
3 Aecominodation owned gild in mgnagement
Number of units
Nuinber of units
at
Api'il 2022
31 MAith 2023
Hou%ing accoiniiiodation
Page 13

Butterfitld Home8, Cottingley
Notes to the Financial Statements for the Year Ended 31 March 2023 (continued)
4 Suyplus on oYdinAfy Attivities is stated aftei. eliai'giNgl{ereditiiig):
2023
2022
Audi¢ fees
Audit of¢he fjnancial statejneijts excluding VAT
Deprcciatioii of fi'eeliold piY)peity
DepiEciation of fixiures and fittings
6SS
7,138
639
525
7,138
639
2,454
2,454
5 Board and key man#geNient pei'soiinel i'emuneraltion and expenses
No board or key n]aiiagement pe¥sonnel eiilier received or waived any retnuneration durin8 the year.
6 Tangible fixed assets
Land artd
buildings
FixÉure5 &
rittings
Total
C05t
Ai l April 2022
Additions
273.656
930
49,317
322.973
930
A(31 Marcli 2023
274.586
49.317
323,903
Depi'eciation
At l April 2022
Chai¥e for the year
55,282
7,138
47,181
639
102.463
7,777
At I l March 2023
62,420
47,820
110,240
Net book value
At 31 Marcli 2023
212,166
,497
213,663
At 31 Mar¢li 2022
218,374
2,136
220,510
7 Fixed asset inv¢stments
2020
2022
Listed investnients
75,494
74,958
Page 14

Buttej'field Homes, Cottlngley
Notes to the Finaneial Statements for ¢he Year Ended 31 March 2023 (continued)
Llsted investijients
Li$ted
inve5tinentS
TotAI
VAlu8tion
At l April 2022
Revaluation
Additions
74,958
11.900)
2,436
74,958
{1.900)
2,436
At 31 March 2023
75,494
75.494
Carrying amount
At 31 Marcli 2023
75,494
75,494
At 31 March 2022
74,958
74,958
The fail. value of listed investments is determined by IEferen¢e to t1￿ quoted price foi. ideiitical assets iij an active
market at the balance slieei dale. Hisioi'ical costs of iiivestments are £67,62412022- £65,188).
8 Debtoi's
2023
2022
Piepayimeiits
Otliei. debtors
1,082
416
999
1,498
2,120
9 Creditors., amounts falling due within one year
2023
2021
Grant5
Accruals
2,454
2,454
1.440
4,170
3,894
10 CJrditoi'$: amounts fg11ing due after one yeAI'
2023
2022
Gianr
100.606
103.060
The grants ait repayable if tlie properties are sold.
Social 14ousing (iraiit tolalliiig £122,692 lia$ beeii itteived. This will be repaid if Ihe pi'operlies air sold. Tlie Social
Housing Cjraiii is beiiig reCo￿lised ii? incoihc oil a systetnatie basis over the expected usefiil life of Ilie sirucluye {50
yeai%l.
Page 15

Butterfield Homes, Cottingley
Not￿ to tlie Financial Statements for tlie Yexr Ended 31 March 2023 (continued)
I l Reserves
) liJ¢ome expendtture re5ei.ve
The in¢onie aiid expei)diture reseive represents tlie cumulative sui'plu5 and defjcils net of othei. adjustments.
bl Revaluation i'e5eiye
The I'evaliiation Irserve repie5ents the cumulate effect of revaluotions of Ilie fixed assets investments.
12 Related pArty trAn511CtL0115
Buttevfield Homes, Wilsdeii
{Coinmon trustees)
Duriiig Ihc year there lias been tm) transactions with Butterfield HoiMes, Wi15den. At the balance sheet date Ihe anioutht
due frotii Blltterfield Hoines. Wilsdeii was £311 {2022- £3111.
Buttevfteld Homes, C.rosshills
{Cointiion trustcesl
Ai ihe balaiice sheet date the aiiioiint du¢ froin Butterfield Homes. Crosshills was £105 {2022- £6881.
The above amout)ts are iiilerest fire.
Page 16