uocusign tn¥8pe iu.. o 1 13ir Ir-D¥rrD1ts-¥cJ i-xv¥w£ ILL¥r Registered number.. 601785 Charity number: 227170 ¥u bradford flowerfund homes BRADFORD FLOWER FUND HOMES (A company limited by guarantee) TRUSTEES, REPORT AND FINANCIAL STATEMENT5 FOR THE YEAR ENDED 31 MARCH 2025 Iiiwi TAE938C*IO' 1fJOW2025 COMPANIES HWSE
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urKusgn tnvewe iu." uii)Ir ir-tyFrr4•oitr¥coi**ll¥OV& I¥Dts BRADFORO FLOWER FUND HOMES IA company limlted by Buaranteel CONTENT5 Page Reference and administratfve details of the assoclation. Its Trustets and advisers Chalrnian's statement Trustees. report s-io Trustees. respon54bilitie5 ststernent li Independent auditors, report on the financial statements 12-15 statement of linancial activities 16 8alance sheet 17-18 Statement of cash flows 19 Notes to the linancial ststements 20-33
Docusign Envewe ILI.. U1 1511-0ub-¥tJi-*IKiuv& BRADFORD FLOWER FUNO HOMES IA tompany limited by guarantee) REFERENCE AND ADMINISTRATIVE DEfAILS OF THE ASSOCIATION. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025 Trustee5 Christopher Malcolm Wood (deased 24 December 20241 Mark Theodore Gerdes. Chairman lan Frank Whitley. Treasurer Pauline Wood Stephen Russell Thornton Andrew Hould5WOrth Gillian Simpson-morris Company registeied n4hmtsei 601785 Charity reglstered number 227170 Registered office 4a Flower Mount Saildon Shipley 8D17 658 Honorary life members John Chades aapham Susan Kildin4 Wèndy Cope Company Secretary and Manager David Tarren Presldent Robert Marrrott Independent auditors AAB Audit and Accountancy Limited Chartered Accountants Gresham House S-7 St Pauls Street Leeds West Yorkshire LSI 2JG Accountants 8HP LLP New Chartford House Centurion Way Cleckheaton West Yorkshire 8019 3QB Sollcltors AWB Charlesworth LLP 12-18 North Street Keighlev West Yorkshire 802135E Page I
U(UsIgn tnveiope iu.. oii?Ir ir-t1•rrD1kr¥ta i-ItVOU£ IU¥D BRADFORD FLOWER FUND HOMES (A company limited by guararteel CHAIRMAN'S STATEMENT FOR THE YEAR ENDED 31 MARCH 2025 The chairman prÈsents his statement for the year. It is with Breat sadness that I find myself writtng this report following the passin8 of Christopher Malcom Wood, who served a5 Chatrman of Bradford Flower Fund Homes from July 2015 to December 2024. So much of the Charivs progress in recent years was a direct result of his drive and determination. Followin8 my report is a short a list of achievements as written by good friend and Chairman of Bradford Flower Home5 Development Ltd, Stephen Thornton. I trust this reflect5 the great work and aspiration of Chris. Success It gives me grezt pleasure to report on another very sutcessfvl year for the charity with a net surplvs of circa £250k. Our strategy to continue growing our cash reserves has proven invaluable as we continve to svpport 8radford Flower Homes Development Ltd in its major build project of Flower Meadows in Wrose. Bradford Flower Fund Homes have agreed to fund the project with existing Cash reseThes and an agreed faeility to borrow up to £2m from the Charity Bank, which is likely to be drawn down in tranches starting from September 2L)25. Flower Mount and Flower Haven have been provided as security on the loan. Building works started on the projett in July 2024 and is due to finish in November 2025. The board have been due diligent during this process. and we are extremely confident in the success of the project. I would like to express my thanks to Siephen Thornton, Chairman of the Development Company, for his determination in driving this forward. Finznce The Charity has had an excellenl year financialty. with continued focus frorn our mznagement team on Valye for Money leading to a healthy Surplus. We have continued to provide high quality housing at subsidised rents in line with thè objectives of the charity. Property and Tenants There were 13 properties re-let during the financial year. All properties were re-let within the 3-month service level target. l am also delighted to advise that all rna4ntenan jobs were completed with 99% target level. This highlights the quality of servite being provided to our tenants. Thé eharity continues to fund the Bradford Council Safe and Sound system on behalf of tenants who choose to t3kÈ out this service. Over one third of tenants turrently benefit from this service and we provide reminders of the option to take out Safe and Sound every 3 months. The Board Management Team continues to seek tenant feedback and holds a quarterly tenant meeting to encourage discussion of site related i55ves. In addition. the tenants receive a quarter yearly newsletter to keep them informed of relevant updates. Thanks As ever I must give thanks to my fellow Board members who. generously give up their time to promote and drive the charity forward on a voluntary basis. I would also like to thank our Management and staff for their hard work over thè year. We expect another challenging and exatin8 year in 202>2026. Page 2
DocJJsign Envthope ID". U11)Krif•U4rr-4Uikn-¥tal*lV¥OU£ I£L¥D BRADFORD FLOWER FUND HOMES IA company Itmited by 8uarantee) CHAIRMAN'S STATEMENT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Christopher Malcolm Wood: Bradford Flower Fund Homes- Chainnan July 2015 to December 2024 It was with great sadne55 and shock we learned of the loss of our dear friend and colleague Chri5 Wood on 24th December 2024. Chri5 wa5 appointed Chairman of the Bradford Flower Fund in 2015. With his years of experience in IT and Business. Chri5 Wood was a real asset to the team. Ht brought hi5 energy and passion to the rtsle and worked hard to build a stron8 dedicated 8oard and Management Team. Developments during his leadership included.. Operations The offices werè relotated to Flower Mount and initiatives were introduced to Improve the financlal management. A full time Manager was appointed and several key tasks brought in-house. Resultin8 in improved decision making and reduced costs. This included the hire of Michael our'man in a Van.. Tenants Chri5 was also keen to assure the tenants wellbeing and introduced several Tenant tnitiatives such a5 Safe & Sound, Photo and Addre55 Check5 for new tenants, reducing the tenant application age to 55. a Tenants Committee & Newsletters, Equality and Diversity Policie5 and a wonderful 60th Birthday celebratton of the Bradford Flower Fund. Strategic development Strategic decisions were also taken wth regards to the Property Portfolio. acquisitions. purchases and sales have been made. Keighley Flower fund approached Chris to ask if their assets could be absorbed into the Bradford Flower Fund. given they were finding it hard to continue. With the ambition to build more homes the Bradford Flower Homes Development Board was established in 2020. Bradford Flower Homes Development achieved Charity status in 2021 and became a Home England IHEI Registered Provider in 2022. Purchase of 10 units at.Milner Court supported by a HE Grant of £370K in 2022, was followed by the purchase of land at Kings Orive. Wrose in 2023. Full plannin8 permission for 26 units at Wrose was given in 2024, supported by a HE Grant of £2.373k. Builder5 were appointed in 2024 and work started October 2024. It is sad that Chri5 will not 8et to see the new hornes built. PaBe 3
uorusign tnvevjpe Iu." E5 1 1?Ir ir-ygrr*Dxw-¥EJ i-Iy¥ov£ 8RADFORD FLOWER FUNO HOMES IA Company limlted by guarantee) CHAIRMAN'S STATEMENT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 Flnènclal This astute leadership of the Charity has restslted in growth and an increasingly strong financial position.. Assets (million) Rentsl Inme (thousarKls) 201&16 2WL>24 Net Surplus Ilhousandsl 201S16 2rJès24 Today, Bradford Flower Fund stands in a good place. With a stron8 board. management and a hardworking talented team. who will continue to build on Chris. legacy. ¥ILS Mark ThEi>dore Gerdes Chairman Date: 21 July 2025 Page 4
uorJJygn tnveiope ILJ: IJI1-01trr-O1-¥ta i-IW4W< IU¥ BRADFORD FLOWER FUND HOMES IA company limited by guarantee} TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2025 The Trustees Iwho are also directors of the association for the purposes of the Companies Act) present their annual report together with the audited financial statements of the association for the year l April 2024 to 31 March 2025. The Annual report seNes the purposes of both a TnJstees' report and a dirtOrs, report under company law. The Trustees confirm that the Annval report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the chariiable companws governin8 document and the provisions of the Statement of Recommended Prartice ISORPI applicable to charities preparin8 their accounts in accordance with the Financial Reportin8 Standard applicable in the UK and Republic of Ireland IFRS1021 leffertive I january 20191. Since the association qualrfies as srnall under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 20(*> IStrate8ic Report and Directors. Repo)rtl Regulations 2013 has been omitted. Objertives ondttrtfvities • Policies and obiecti¥e5 8radford Flower Fund Homes exists to improve the lives of Bradford's elderly through providin8 high quality homes at affordable rents. keeping you there and providing 5UPPOrt and customer service along the way. Tenants can build their lives in our homes which they can call thebr home - equ31 part5 attractive. safe and affordzble. Our arnbition covers our busine55 and tenants by strmng to increase our capacity to deliver positive contributions to our comrnunity through a resilient business model. In pioviding affordable rented properties. the Board of Directors considers that the activities of the association provide real public benefit and have reEard for the Charity Commission guidance on public benefit. The Association has a 5 point strate8ic objective.. l. Tts invest in its existing housing stock to ensure that 8radford Flower Fund Homes provides a high standard of attrartive and safe accommodation. 2. To provide a caring and responsive seNce to tenants which delivers customer satisfaction. 3. To increase the supply of quality affordable homes where financially wable. 4. To ensure that Bradford Flower Fund Homes. work is underpinned by effettive financial. administrative and management processes set within a framework of effective corporate governante. S. To support resident engagement in the management of their homes. In setting objectives and planning for aclivities, the Tnjstees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the 8uidance 'Public benefit.. running a charity IPB21'. Page S
06U$l9 EnvelopE ID.. 81157Plk-t$4Pt4L1f&Jl-1(y1£l&YIts BRADFORD FLOWER FUND HOMES IA company Ilmited by guèranteel TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 Objertives and a¢tlvlties {continuedl Activities vndertaken to achiéve oblÈcti¥es. Thè Association provides and maintains affordable rented housing for retired people and welcomes donations from the public to support this. In Order to offer a public bentftt The Association provides rental charge5 for the proptrties at least 21PA below market value. The managefflent carry out regular market comparison surveys to achieve this target. The property maintenance ctsntrartors are monitored and service leve15 are checked monthly to ensure maintenance issues and general repairs are dealt with to the tenanys expectations. An application for tenancy register is kept and maintained. In addition a scoring system is used to select potential tenants and ensure the Flower Fund criteria is followed. A five year plan is in plate to support the 8oards strategy to improve and maintain the existing pioperties. Re-investment in properties at refurbishment stage to ensure the properties a attractive and comfortable. Continuous monitoring of properties through inspecttons to ensure properties are maintained to the high standards expected. Funding is wowded for the Bradford Council Safe and Sound service for those tenants who need exlra care within their homes. Regular meetin85 are held between tenants and manaeement to provide feedback channels and improve the livin8 environments. chievements ondperformonte • Key performance indl¢ators As at 31 Marth 2025. the total accumulated surplus income of the Bradford Flower Fund Homes amounts to £7.088.918 12024- £6.820.7521. The amount utilised in acquiring buildines and convertrng properties for the elderly is £4.455,323 12024- £4.508.g851 with other fixed assets ioialling £l.O7012024- £5331 This leaves a net surplus of funds for future use of £2.632.52512024- £2.311.2341. Review of artlvitles The Charity provided 181 homes for the need of retired persons throughoui ihe year. Page 6
Oocusiun Envelcpe ID.. B1157F1F-84FF487C-9E31-7098(f212296C BRADFORD FLOWER FUND HOMES IA company limited b¥ guaranteel TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENOED 31 MARCH 2025 Achievements and perfonTrance (continued) • Fundraising artlvlties The associatlOll'5 income is raised primarily through rental income. We are also in the fortvnate position to be the recipient ot legaties from families of fom)er beneficiaries. We octasionally receive public donations which are publicised throu8h local media advert15ements or our own website. The association does not use any professional fundraiser or commercial participator to carry out activltres on the association's behalf. Due to the low level of fvndraising the association undertakes. the association is not a participant of any voluntary scheme for regulating fundraising. oi any voluntary standard of fundiaising for the activities carried out on behalf of the association. Should the association at some point in the future undertake a specific fundraisin8 campaign or start to generate more income through fundT3isin& the Trustees will look to sign up to a voluntary fundraising code. Flnontitilreview • Golng concern After making appropriate enqvirie5. the Trustees have a reasonable expertation that the association has adequate re50urce5 to continue in operational existence for the foreseeable future. For this rea50n. they continue to adopt the gorng concern basis in preparing the fvnancial stètements. Further cletails regarding the adoption of the 89in6 concern basis can be found in the accounting policies. • Reserves policy Resèrves are needed to bridge the &zp between the spending and receiving of income and to cover unplanned emer8encv repairs and other expenditure. The trustee5 consider that the ideal level of reserve5 as at 31 March 2025 for the group would be £150,000. The group consists of Bradford Flower Fund Homes (Parentl and Bradford Flower Homts Development timited Isubsidiaryl. A number of fattors have been identified and evaluated to reach thi5 reSee level as listed below= maxi working capital drfferential rn lowest and highest Bradlord Flower Fund Hofftes bank balance variatio over the past 5 years- £130,000. Yearly Expenditvre on General Repairs- £45.CK)O. Unlikely cost of all properties being void for I month= £64.(KK). Property Improvement BudEet already within Annual 8udget= £21J),(MxJ. Board Control on cash spending within Annual Budgets. The reserves allows for additional smaller spending opportunities. Larger opportunities would be planned and budgeted. The Risk Register has beèn reviewed and the reserve allows for additional spending. Page 7
DrKusign Envek)pg10.' 8115IPItr-b4tr4tbty•yÈj1-lvYtKT7IiJU BRADFORD FLOWER FUND HOMES {A Company limited by guarantee) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 The Association's funding is tlerived from bequests. in memoriam donations in lieu of flowers and surpluses from rentsl income. The Association accumulates cash reserves for the purpose of moderni53tion and improvement of its existing estate. the purchase of land and the construction of additional properties to achieve its stated objective. The amount held in such reserves will vary over time. depending on the price and availability of land. constrvttion costs and the Association'5 ongoing improvement and development activities. Cash reserves are accumulated from surpluses of revenue intome Over expendituie and from bequests and donations. The sums held and the reserves policy are subject to regular review by the Board of Directors. These resources are considered essEntial for the A5SOCi3tion to achieve its aim of providing and maintaining small. individual retirement homes in fully maintained 5urrDundings at rent levels that are within the means of èlderly people living on limited incomes. • Flxed assets A valuation of Flower Mount. Flower Haven. Keighley Croft and Highfield House were carried out in 202Z. whilst the remaining 51te5 were valued in 2023124. These valuations were tarried by Eddison, Chartered Surveyors based on each individyal home with vacant possession. The valuations for each site are as follows.. Site Valuatton- (year of valuation) Flower Bank- £1.575.000 120241 Flower Court- £l.010.000120241 Flower Croft- £1.315.WO120241 Flower Garth- £2.820.0(KI120241 Flower Haven - £1.750.000120231 Flower Hill- £5.680.)012024} Flower Mount- £3,000,000120231 Keighley Croft- £450,Th)0120221 Highfield House- £250,OCKI120221 Total Valuation £17,850,tXKI Stfudure governonce ondmonagement Constitution Bradford Flower Fund Homes bs incorporated as a company limited by guarantee and a registered charity. It is governed under the terms of its Memorandum and Articles of Association last amended by Special Resolution dated 7 July 2015. Bradford Flower Fund Homes has a subsidiary. "Bradford Flower Homes Development Ltd" (Company Number 125902731. Thi5 will open up further opportunitie5 for development within the soci31 housin8 sertor. Bradford Flower Fund Homes is the sole member of Bradford Flower Homes Development Ltd. • Methods of appointment or election <rf Trustees The director5 shall be elected by the membership 3t each Annual General Meeting Ihereinafter called the Board of Director51. Unle55 Otherwise determined by a General Meeting. the Board of Directors shall con515t of ten members of the Association or svch other number as the Board of Directors shall from time to time decide and to be confirmed at the next following Annual General Meeting. Directors are appointed on a three year temi following which they may be re-Elected at an Annual General Meeting. Page 8
DoGu5ign Envelo10.. 81157F1F-B4FF4B7C4E31-7098021229BC 8RADFORD FLOWER FUND HOMES {A company limited by guarantee) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 Structufe. 80ManCe and manasemerrt Icontinyed) Orzanisational 5trurture and decision•maklng polltles Overall management of the Association with regard to policy. strategy and finance is the responsibility of the Board of Directors. which meets on at least a Quarterly basis wilh addilional meetings as necessary. Operational management on a day-to-day basis is the responsibility of the Chairman and the Company 5ecretarylManager working within the policy and financial framework agreed by the Board. All directors have access to the Ch3im)an, and the Company Secretarylmanager at all times. 8HP LLP undertake financial and accounting SerVis. • Pollcles adopted for the indurtion and training of T¢u#ee5 Potential dsrectors will be interviewed by the Appointment Committee and then invited to attend Board meetings 35 observers. Opportunities exist to visit Flower Fvnd sites. some of which are often known to the individual. New directors are provided with a copy of the Memorandum and Articles of Association and the pievious year's Annual Report and Accounts. along with a welcome pack containing responsibilities for trustees. • Pay policy for key management personn The directors consider the board of dirertors. who are the association's trustees, and the manager comprise the kev management personnel of the charity in charge of planning. difectin8 and controlling the activities of the association on a day to day basis. All director$ give up their time freely and no director received remuneration in the year. Details of directors, expenses are disclosed in note 10 to the accounts. The pay of the manager and staff are reviewed annual and normally increased in attordance with average earnin8s. The bonus scheme is reviewed annualty by the board and is subject to performante. • Flnancial rlsk management The Trustees have assessed the major risks to which the association is exposed, in partictslar those related to the operations and finances of the association, and are satisfied that systems and procedures are in place to mitigate our exposure to the major risk5. Major Strategic. Business and Operational risks that the Association may face are discussed annually. Plans for future periods Plans for future periods include= to support the coniifiuing developrnent of new homes bein8 provided by 8radford Flower Homes Development Ltd. continue to review ihe association's strategv. Page 9
DouJslgn Ersveh)F4 ID.. 81157F1F.84FF4B7C-9E31-7ce802122 BKAOFORO FLOWER FUND HOMES IA CDmpany limited by guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 *1AARCH 2025 Disclosure of information to audltors Each of the peOnS who are Trustees at the time when this TnJstees' port is approved has confirmed that.. so far as that Trustee is aware, there is no relevant audit information of which the charitvs auditors are unaware, and that Trustee ha5 taken all the steps that oyght to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charity's auditors are aware of that information. Approved by order of the members of the board of Trustees and Signed on their behalf by= &rlLs Mark Theodore Gtrdes Chairman Date.. 21 July 2025 Page 10
DU$l9 Envelope ID: B1157F1F_B4FF4B7C-9E31-7098021229BC 8RADFORD FLOWER FUNO HOMES IA Compa limited by guarant4e) STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENOED 31 MARCH 2025 The Trustees (who are also the dirertors of the association for the purposes of cornpany lawl are responsible frjr preparin8 the Trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kin8dorn Generally Accepted Accounting Practice). Company law requires ihe Trustees to prepa financial statements for each financial year. Under company law. the Trustees must not approve the financial statements unless they a satisfied that they give a true and fair view of the state of affair5 of the association and of it5 incoming resource5 and application of resource5. including its intome and expenditure. for that period. In preparing these financial statements. the Trustees are required to: select suitable accountin8 policies and then apply them consistently- observe the methods and principles of the Charities SORP IFRS 1021.. make judgments and accounting estimates that are reasonable and prudent.. state whether applicable UK Accounting Standards IFRS 1021 have been followed, 5ubjert to any material departures disclosed and explained in the financial 5tatements.' prepare the financi31 statement5 on the goin8 concern basi5 unless it is tnzppropriate to presume that the association will continue in business. The TnJ5tees are responble for keeping adequate accounting records that are SLrficient to show and explain the association's transactions and disclose with reasonable accuracy at any time the financial position of the association and enable them to ensure that thè financial statements comply with the Companies Act 2CK)6. They are also responsible for safeguarding the assets of the association and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Page 11
DOcSn Énvekl ID.. 81157FIF-B4FF487C-9E31-7098021229BC BIIADFORD FLOWER FUND HOMES {A company limited by guafanteel INDEPENDENT AUOITORS. REPORTTOTHE MEMBERS OF BRADFORD FLOWER FUND HOMES Oplnlon We have audited the financial Statements of Bradford Flower Fund Home5 Ithe 'charity'l for the year ended 31 March 2025 which comprise the Statement Df financial activities. the Balance sheet. the Statement of cash flows and the related notes, includin8 a summary of Significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law arbd United Kingdom Accounting Standards. including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland. (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements.. 8ive a tnje and fair wew of the State of the charitsble company's affairs as at 31 March 2025 and of its incoming resources and 3pplication of resources. including its income and expenditure for the year then ended.. have been properly prepared in actordance with United Kingdom Generally Attepted Accounting Practice.. ènd have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordan with International Standards on Auditing IiJK} IISAS IUKII and applicable law. Our responsibilities under those standards are lurther deKribed in the Auditors. responsibilities for the audit of the financial statefnents seciion of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the finantial statements in the United Kingdom. including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions Yelatingto Eoine concern In auditing the financial statements. we have concluded that the Tru5tees' use of the going concern basis of accounting in the preparation Df the financial statements is appropriate. Based on thè work we have perfom)ed. we have not identified any material uncertainties relating to Èvents or conditions that, individually or collectively. may cast Significant doubt on the charitable company's ability to continue as a goin8 concern for a period of at least twelve months from when the financial statements are authorised for issue. Our re5pon5ibilities and the responsibilities of the Trustees wtih respect to going concern are described in thè relevant sections of this report. Page 12
Dotrjslgn Envepe ID." 81157F1F-B4FF4B7C-9E31_70980212298C BRADFORD FLOWER FUND HOMES IA company lÉmited by guarantee) INDEPENDENT AUDITORS. REPORTTO THE MEMBERS OF BRADFORD FLOWER FUND HOMES ICONTINUEDI Other information The TnJstees are responsrble for the other Information. The other information comprises the information intluded in the Annual report other than the financial statements and our Auditors. report thereon. Our opinion on the financial statements doe5 not cover the other information and. except to the extent otherwise explicitly stated in our report. we do not eXpsS any form of assurance conclusion thereon. In connection with our audit of the financial statements. our responsibility is to read the other information and. in doing so. consider whether the other information is materially intonsistent with the financial statements or our knowledge obtained in the course of the audit. Of Otherwise appears to be materially misstated. If we identify suth material inconsistencies or apparent material misstatements, we are required to determine wheiher there is 3 material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have perfo¥med. we conclude that there is a material misstatement of this other information. we are required to ieport that fact. We have nothing to report in this regard. Opinion on other matters prescrlbed by the Companies Ad 2(K16 In our opinlon, based on the work undertaken in the course of the audrt= the inforrnation given in the Trustees. report for the financial year for which the financial statements are prepared Ss consistent with the financial statement5. the Trustees, report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of our knowledge and understanding of the tharitable company and its environment obtained in the course of the audit, we have not identified material mis5tztements in the Trustees, report. We have nothing to report in respect of the following matters in relation to which Companie5 Act 2006 requires us to report to you if. in our opinion.. adequate accounting records have not been kept. or returns adequate for our audit have not been received from branches not visited by us.. or the financial staternents are not in agreement with the accounting record5 or returns.. or certain disclosure5 of Trustees. remuneration specrfied by law are not made,. or we have not received all the information and explanations we require for our audit,. or the Trustee5 were not entitled to prepare the financial statements in accordance wilh the small companie5 regime and take advantage of the small companies. exemptions in preparing thè Tnjstees. report and from thè requirement to prepare a Strategic report. Page 13
goSIgn EnvelopE ID.. B1157FIF-B4FF487C-9E31-7098021229BC BRADFORD FLOWÉR FUND HOMES IA tompany limited by guarantee) INDEPENDENT AUOITORS, REPORTTO THE MEMBERS OF BRADFORD FLOWER FUND HOMES ICONTINUEDI Responsibllitles of trustees A5 explained more fully in the Trustees, responsibilities statemtnt. the Trustee5 (who are also the directors of the charitable cornpany for the purpose5 of company lawl are responsible for the preparation of the financial statements and for being satisfied that they give a trut and fair view. and for sueh internal control as the Trustee5 determine is necessary to enable the preparation of financial staiements that are fe from material misstatement, whether due to fraud or error. In preparing the financial statements. the Trustees are responsible foi assessing the charitable company's ability to continue as a goin8 concern. disclosin8, as applicable. matters related to 8oin8 concern and usin8 the 8oin8 concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease ope¥ations, or have no realistic alternative but to do so. Auditors, responsibilities tor the audit of the financtal statements Our objectives are io obtain reasonable assurance about whether thè financial statements as a whole a free from material misstatement. whether due to fraud or error. and to issue an Auditois. report that includes our opinion. Reasonable assurance is a high level of assuran. but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individuaify or in the a8greEate, they could reasonably be expected to inflLtence the economic decisions of vsers taken on the basis of these financial statements. Irregularities. including Iraud. are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities. outlined above. to detect material misstatements in respect of irre8ularities. including fraud. The extent to which our procedures are capable of detetting irre8ularities, induding fraud is detailed below: We obtained an understanding of the legal and regulatory frameworks within which the company operates, focusing on thosè laws and regulations that have a direct effect on the detemiination of material amounts and disclosures in the financial statements. The laws and re8ulations we considered in this context were the Companies Act 2006 and the Charities SORP IFR510212019. We identified the greatest risk of material impart on the financial statements from irregularities including fraud to be- Timing and cornpleteness of rental recognition; Compliance with relevani laws and regulations which diredly irnpact the financial statements and those that the cornpany neéds to comply with for the purpose of trading. Management override of controls to manipulate the charities financial statements. Our audit proCedUS to respond to these risks included= Testing of journal entries and other adjustments for appropriateness- Testing a sample of rentsl receipts through the system and verifying to tenancy agrèefftents,. Enquiries of management about litigation and claims and inspection of relevant correspondence.- Reviewing le8al and professional fees to identify indications of actual or potential litigation. claims and any non- compliance with laws and re8ulation5: Analytical procedures io identify any unusual or unexpected trends or relationship: and Reviewing minutes of meetings of those charged with governance to identify any matters indlcating actual or poiential fraud. 8ecause of the inherent limitations of an audit. there is a risk that we will not detect all irregularities, including those Page 14
Docuslgn ETrvekspe ID.. 81157F1F-B4FF487C-9E31-7098021229BC BRADFORO FiOWER FUND HOMES IA company limited by guarantee) INDEPENDENT AUDITORS. REPORTTOTHE MEMBERS OF BRADFORD FLOWER FUND HOMES ICONTINUEDI leodin8 to a material misstatement in the financial 5taternents or non-compliance with regulation. Thi5 risk increases the more that cornpliance with a law or regulation is removed from the events and transaclions reflected in the financial Statements, a5 we will be less likely to become aware of instances of non<ompliance. The risk is also greater regarding irregularities occurring due to fraud rather than error. as fraud involves intet)tional concealment, forgery. collusion. omission or misrepresentation. A further description of ovr responsibilities for the audil of the financial statements 15 located on the Financial Reportin8 Council'5 website at- www.frc.or -uk auditorsre5 - Thi5 description form5 part of our Auditors, report. Use of our report Thi5 report is made solely to the charitable company's members. as a body. in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charrtable company's members those matters we are required to state to them in an Auditor5. report and for no other purpose. To the fullest exlent permitted by law. we do not accept or assume responsibility to anyone other than the charitable tompany and its members. as a body. for our audit work. for this report. or for the opinions we have formed. Helen Danlels LLB FCA cfA (Senior statutory auditor) for and on behalf of AAB Audit and kcountancy Limited Gresharn House 5-7 St Pauls Street Leeds West Yorkshire 1512JG Date.. 28 July 2025 AAB Audit and Accountancy Limited are eliwble to act as auditors in term5 of section 1212 of the Companies Act 2006. Page 15
DO¢ysjn Envek)pe ID.. 811s7F1FFF4679E31.7098O21229Bc 8RAOFOAD FLOWER FUND HOMES (A company Ilmited by guarantee) STATEMENT OF FINANCIAL A1VITIEs IINCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 MARCH 2025 Unrestrirted tunds 2025 Total fvnds 2025 Total funds 2024 Nott Income from: Donations and legacies Charitable activities 634 847,620 28.034 8.696 847.620 28,034 8.696 772,2CKJ Investments Other income 8,696 Total income 886,994 781.530 Expendrture on: Charitable activities 618,828 618.828 574,764 Total empenditure 618,828 618,828 574.764 Net movement in funds 268.166 268.166 206.766 Reconciliation of tund5: Total funds brought forward Net movement in funds 6.820.752 268.166 6.820,752 268.166. 6,613,986 206,766 Total funds cairted forward 7.088.918 7.088.918 6.820,752 The Statempnt of financial artiwties inclLtdès all gains and losse5 recognised in the year. Pa8e 16
Docusign Envelo 10.. 81157F1F-84FF4B7C-*31-7ce80212298C BRAOFORO FLOWER FUND HOMES {A company limited by guarantèÈl REGISTERED NUMBER: 601785 BALANCE SHEET ASA T31 MARCH 2025 2025 2024 Fimed assets Tangible assets 12 4.456.393 4.509.518 4.456.393 4.509,518 Current assets Debtors 14 699.355 1.421.882 Cash at bank arnd in hand 20 1.993.461 939.623 2.692.816 2.361.505 CreditDrs.' arnounts falling due within one year 15 (60.291) 150.2711 Met current assets 2.632.525 2,311,234 Total net assèts 7.088,918 6,820.752 Charlty funds Restritted funds 17 Unrestricted fund5 17 7.088.918 6,820,752 Total funds 7.088,918 6,820.7S2 Page l?
DOC$19n Envelope ID.. 81157F1 F-B4FF487C-9E31-71IJ80212298C BRADFORO FLOWER FUND HOMES IA company limited by guaranteel REGISTERED NUMBER: 601785 BALANCE SHEET ICONTINUEDI ASA T31 MARCH2025 The Trustees acknowledge their sponSIbl11t1eS for tomplying wtih the requirements of the Act with respett to accounting records and preparation of financial statements. The financial statements have been prepared in accor(lance with the prowsions applicable to entities subject to the small companies regime. The financial statements were approved and authori5ed for issue by the Trustees and signed on their behalf bv.. Mark Theodore Gerdes Chairman Oate= 21 July 2025 The notès on p38es 20 to 33 form part of these financial statements. Page 18
OooJsign Erweh)pe ID.. B1157F1F-B4FF487C-9E31.7098021229BC BRADFORO FLOWER FUND HOMES IA tompany limited by 8uaranttrl STATEMENTOF CASH FLOWS FOR TrE YEAR ENDED 31 MARCH 2025 2025 2024 Cash flows from operatlng a¢tl¥Stles Net t35h used in operating actiwties Isee note 191 1.026.520 1116.3861 Dividends. interests and rents from investments Purchase of tsn8ible fixed assets 28.034 17161 Net cash pro¥ided by Investing a¢tlvities 27,318 Change In cash and cash equivalents in the year 1.053.838 1116.3861 Cash and cash equivalents at the beginning of the year 939.623 1,056,009 Cash and cash equlvalents at the end of the year 1.993.461 939,623 Page 19
Do¢u$lgn Envekjpe ID.. 81157F1F_B4FF487C-9E31-7098021229BC BRADFORD FLOWER FUNO HOMES IA company limited by guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR TFIE YEAR ENDED 31 MARCH 2025 Atcountlng Oities 1.1 805is of preparntion olfinontialstqternents The financial statements have been prepared in accordante wtth the Charities SORP IFRS 1021 Accounting and Reporting by Charities- Statement of Recommended Practice applicable to charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FR5 1021 leffective l January 20191. the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 21Th. Bradford Flower Fund Homes meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policv. The cornpany has taken ad¥antzge of the exemption under section 399 of the Companies Art 2006 not to prepare con501idèted accounts. on the basis that the group of which thi5 15 the parent qualifies as 3 small group. The financial statenents present information about the company a5 an irtdividual entity and not about its group. 1.2 Going concern The accounts have been prepared on a going concern basis on the a55umption that the charity is able to carry on operating as a going concern in the foreseeable future. which the trustee5 consider appropriate. 1.3 Income All income is recognised once the association has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the tirne of the donation. Other income 15 recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service. 1.4 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party. it is probable that a transfer of economic benefits will be required in settlèment and the amount of the obligation can be measured reliably. Expenditure is tlassified by activity. The costs of earh activity are made up of the total of direct CQ5ts and shared costs, including support Costs involved in undertaking each activity. Dirert costs attributable to a single activity are allocated dirertly to that artivity- Shared costs which contribute to more than one activity and 5UPPOrt Costs which are not attributable to a single activity are apportioned between those activities on 3 ba515 consistent with the use of resources. Central stsff costs 3re allocated on the basi5 of time spent. and depreciation charges allocated on the portion of the asset's use. Support costs are those costs incurred dirertly in 5UPPOrt of eypenditure on the objects of the charity and include project management carried out at Headquarters. Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirement5. Page 20
D¢xu5ign Envelope ID.. 81157F1F-84FF4B7C-9É31-709W212298C BRADFORD FLOWER FUND HOMES IA compaTry limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accountlng policies (continued) 1.4 Expenditure frontinuedj Charitable activitie5 and Governance c05tS are costs incurred on the charity'5 educational operation5. including 5UPPOrt costs and c05t5 relating to the governance of the charity apportioned to charitablè activities. 1.5 lftternst receivtible Interest on funds held on deposii is included when receivable and ihe amount can be measured reliably by the association,. this is normally upon notification ot the interest paid or payable by the institution with whom the funds are deposited. 1.6 ToxE7tion The association is considered to pass the tests set out in Paragraph I Sthedule 6 of the Finance Art 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly. the association is potentially exempi from taxation in respect of income or capital gains received within tategories covered by Chapter 3 Part li of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992. to the extent that such income or gains are applied exclusively to charitable purposes. 1.7 Torwlblefixedassets unddepreciotion It remains the company's policy to fully maintain its properties in order to prolong their useful life. Costs of repairs and maintenance are charged against revenue when incU*d. A review for impairment of a fiyed asset is carried out if events or changes in circumstances indicale that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are reco8nised in the Statement of financial activities incorporaiing income and expenditure account. Tangible fixed assets are carried at cost, net of depreciation and any provision for impairrnent. Depreclation is not charged on freehold land. Depreciation is provided at rate5 calculated to write off the cost of fixed assets, less their estimated residual value, over thwr expected useful lives on the following bases: Freehold property Equal annual in5ts11ments over estimated useful life of l(J) year5 20% Reducing balance basis 25% Straight line basis 20% Reducing balance basis 33.33% Straight line basis Plant and machinery Motor vehicles Fixtures and fittings Offite equipment Page 21
Docushjn ETh¥eknFe ID.. B1157F1F.B4FF487C_9E31.7098021229BC BRADFORD FLOWER FUND HOMES IA company Ilmited by guarantee) NOTES TOTHE FINANCIALSTATEMENTS FOR TFIE YEAR ENDED 31 MARCH 2025 Actountlng policies (continued) 1.8 Investments Fixed asset investments are a forrn of linancial instrument and are initially reco8nised at their transactiori c05t and subsequently measured at fair value at the Balance sheet date. unless the value cannot be measured reliably in which case it is measured at cost le55 impairment. Investment gain5 and losse5. whether rea1i5ed or unrealised. are combined and presented as 'GainsllLossesl on investments, in the Statèment of financial activities. Investments in subsidiaries a valL*ed at cost less provision for impairment. 1.9 Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepaymenis are valued at the amount ppaid net of any trade discounts due. 1.10 C95h at bankandin hand Cash at bank and in hand include5 cash and 5hort-terrn highly liquid investments with a Short matulty of three mtrnths or less from the date of acouisition or opening of the deposit or similar account. 1.11 Liobilities ondprovisions Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recogni5ed at the amount that the association ant4cipates it will pay to settle the debt or the amount it has received as advanced payment5 for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material. the provision is based on the present value of those amounts, discounted at the pre.tax discount rate that reflects the risks specific to the liability- The unwinding of the discount is recognised in the Statement of financial activities as a ffinance cost. 1.12 Flnancltsllnstruments The association only has financial assets and financial liabilities of a kind that qualify as basil financial instruments. Basic financial instruments are initially recognised at transattion value and subsequently measured at their settlement value. 1.13 Penslons The association operates 3 defined contribution pension Scheme and the pension tharge rePSentS the amounts payable by the a550cialion to the fund in respect of the year. Page 22
Oc¢usgn Enveknpe ID.. B1157F1F-84FF487C-9E31-71)98021229BC BRADFORD FIOWER FUND HOMES IA company limited by guaranteel NOTESTOTHE FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting poli¢ies Itontinued) 1.14 Fuff attounting Gerneral funds are unrestricted funds which are available for vse at the discretion of the Trustees in furtherance of the Beneral objectives of the association and which have not been designated for other purposes. Designated funds tomprise unrestricted funds that have been set aside by the Trustees for partieular purposes. The aim and use of each designated fund is set out in the notes to the finaThcial statements. General informatio Bradford Flower Fund Homes is a company limited by guarantee domiciled and incorporated in England and Wales. The registered office is 4a Flower Mount, 8aildon, Shipley. BD17 658. The companvs registered number is 60178S nd it5 registered charity number is 227170. The a5SOClation is a company limited by guarantee. The members of the company are the Trustees named on pagÈ l. In the event of the a5S0Clation being wound up. the liaEM"lity in fespect of the guarantee is limited to £1 per member of the association. The principal activity of the association during the year was that of the provision of affordable rented properties. More information is included in the Trustees report on page 5. Income Irom donations and legacies Unrestrbcted fvnds 2025 Total funds 2025 Total funds 2024 Donations 2,644 634 Income Irom tharitable actlvlties Unrestrlcttd fvnds 2025 Total funds 2025 Total fvnd5 2024 Aents receivable 847.620 847,620 772,200 Page 23
Oocusign Envek)PE ID.. B1157F1F-84FF487C-9E31-70980212298C BRADFORD FLOWER FUND HOMES IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH2025 Investment income Unrestrlcted funds 2025 Total funds 2025 Total funds 2024 Interest receivable 28.034 28.034 Other incoming resources Unrestricted funds 2025 Total funds 2025 Total fund5 2024 Management recharge 8,696 8.696 8,696 Analysls of exptndiiure on charitable actiwtes ProvSdlng rented propertv 2025 Total funds 2025 Total fvnds 2024 Expenditure on tharitable activities 618.828 51828 574,764 Page 24
DoGu51sn En¥8loFe ID.. B1157F1F-84FF4B7C-9E31-7098021229BC 8RADFORD FLOWER FUND HOMES IA company limited by Èuaranteel NOTES TO THE FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Analysis of expenditure on charitable arti¥ite5 Icontinuedl Analy515 of support costs Providing rented propertv 2025 Total funds 2025 Total funds 2024 staff costs 147.177 S3.841 235.790 90.722 218 147.177 140.666 54,794 211.133 75,361 Depreciation Repairs and maintenance of buildings Marntenance of ground5, Wèter 53.841 235.790 90.722 218 303 Ga5 and electricity Cleaning Insurance 12.240 12.240 9,121 32,612 9,709 12,176 26,067 459 9.121 32.612 Council tax Advert15in8 8ank charge5 Accountancy fees Office expenses Professional fees 900 798 493 493 792 11,796 12.013 2.399 505 11.796 12.568 12.013 10,371 2,399 4.193 Entertaining Site developrnent costs Governance costs 505 7,200 8,174 9.wl 9.1 618.828 618,828 574.764 Page 2S
Docu5i9n Envelow ID.. 81157F1F_B4FF487C-9E31_70980212298C BRAOFORO FLOWER FUND HOMES {A company llmlttd by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 202S Expenditure on Èovernance tunrtion Unrestrirted fvnds 2025 Total funds 2025 Total funds 2024 Auditors, remuneration 6.950 6.950 IA14 637 6,400 1.248 526 Travelling Board expense5 1.414 637 Tottw12025 9.001 9.ts)1 B,174 Auditors. remuneration 2025 2024 Fees payable to the assotiation's auditor forthe audit of the association's annual accounts 6.950 6,400 io. Stalf costs 2025 2024 Wages and salaries Social securily Costs Contribution to defined contribution pension schemes 132.534 9.841 123.779 12,489 4,398 4,802 147.177 140,666 Page 26
DLusign Envelwe ID. 81157F1F44FF4B7C-9E31-71YJ8021229BC BRADFORD FLOWER FUND HOMES IA ¢ornpany limited by Èuarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 io. Staff costs Icontinued) The average number of persons employed by the association during the year was as follow5- 2025 No. 2024 No. Manager Maintenante Administration No employee received remuneration amountin8 to more than £60,Cth in either year. ii. Trustees. remuneration and expenses and Ihe of key management personnel During the year. no Trustees received any remuneration or other benefits12024- £NILI. Quring the year ended 31 March 2025. expenses totalling £NILwere reimbursed or paid12024. £NILI Only the Trustees and the Manager have the authority and responsibility for planninL direrting and controlllng the activities of the company and as such are considered to be the only key mat)agement personnel. Total remuneration in respect of these individuals is £58.87712024- £54,387). Page 27
DcKusign Envew ID.. 81157F1 F-B4FF487C-9E31-7C88021229BC BKADFORD FLOWER FUND HOMES IA company limited by 8uaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 12. Tangible fixed ass$ Frtthold land ond property Mottyvthlcles Flxtures and flttings OHl¢e e4ulprnent Total Cost or voluution At l April 2024 Addrtions s1111 2.170 3.210 716 5.S23,791 716 At 31 March 2025 SS11.811 2.170 3.926 5.524.507 Depre£iotion At l April 2024 Charge for the year l.(K12,826 53.662 1.637 106 3.210 73 1.014.273 53.841 At 31 March 2025 I.OS6.488 1.743 3.283 1.068.114 Net book value At 31 March 2025 4.455,3Z3 427 643 4.456.393 At 31 March 2024 4.508.985 533 4.S09.S18 Subsequertt revaluations have taken place which are not adjusted for in these financial statements. Details of these are included in the trustees. report. Intluded in freehold land and property is freehold land at a cost of £484.300 12024 - £484,300) whith is not depreciated. Page 28
tknwsign Envefop2 ID.. 81157F1F-B4FF4B7C-9E31-70980212298C RADFORD FLOWER FUND HOMES {A tompany limited by guarantee) NOTES TO THE FINANCIAL StATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 13. Fixed asset investments The following Is a subsidiary undertaking of the charity-. Bradford Flower Homes Development Limited (Company number 12590273. Charity reglstration number 11915751. 100% ownership of voting rights and sole member. Total reseryes at 31 March 2025- £4.973131 March 2024- £8.229 deficit position) 5Ltrplus for year ended 31 March 2025- £13.202131 March 2024- £19,7111 Turnover for the year ended 31 March 2025- £60,657131 March 2024- £60,056) Interest received for the year ended 31 March 2025- £3,7(K)131 March 2024- £nill Expenditure for the year ended 31 March 2025- £51,155131 March 2024- £40,3451 14. Debtors 2025 2024 Due within one year Trade debtors 2.218 828 Amounts owed by group undertakings Prepayments and accrued income 681.464 1.406,253 15,673 14,801 699.355 1,421,882 Amounts receivable from group undertakings are interest free and repayable on demand. Is. Creditors: Amounls falling due within one year 2025 2024 Trade creditors 23,094 1.647 26 14.172 2,241 1,216 32.642 Other taxation and social security Other creditors Accruals and deferred income 35,524 60.291 50,271 PaÉe 29
Docus¥Jn Envekpe ID.. B1157F1F.B4FF4B7C-*31-7098021229BC BRADFORD FLOWER FUND HOMES IA tompany limited by 8uaranteèl NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH2025 16. Deferred income 2025 2024 Deferred income at l April 2024 Resources deferred during the year Amounts released from previous periods 4.028 9.746 3,703 14,0281 4.028 19.7461 Dejerredineome at31 March 2025 3.703 4,028 17. Statement of funds Statement of fund5- current year Balance at 31 Morch 2025 Awil 2024 Inrome Expendlture Designutedlunds Designated Funds- all fvnds 650.C#XI 650.OCKI Genemllunds General Funds 6.170.752 886.994 1618,8281 6,438.918 Total Unrestrictedlunds 6.820.752 886.994 1618,8281 7,088.918 The 8oard has designated £65Ok to the development fund with the strateeit plan to increase the number of propertie5 Wlthin its portfolio to be made available to retired people at affordable rents. Thi5 amount 15 in line with the excess cash resefve shown within the five year budget. Page 30
Dowslgn EnvetrJpe ID.. B1157F1F-B4FF4B7C-9E31-7098021229BC BRADFORD FLOWER FUND HOMES IA company Ilmited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED31 MARCH2025 17. Statement of lunds (continued) ststement of funds- prior year Balance at 31 March 2024 Balance at l April 2023 Income Expenditure Unrestrirtedfvnds Designatedjunds Designated Funds- all funds 650.000 650.OCK) Genen71fvnds General Fund5 5.963.986 781.530 1574.7641 6.170,752 Total Unrestrirtedfvnds 6.613.986 781.530 1574.7641 6,820.752 18. Analysis of net assets between fvnds Anal1$ of net a55ets between lund5- curreiit year Unrestrlrttd funds 2025 Total lund5 2025 Tangible fixed assets Current assets 4,456.393 2.692.816 160,2911 4.456.393 2.692.816 160.2911 Creditors due within one year Totol 7,088.918 7.088.918 Page 31
DotJJslgn Envek)PE10.' B11S7F1F-FF4e7c-gÉ31_70y6o2l2298c BRAOFORO FLOWER FUND HOMES {A company limited by guaranteèl NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 18. Analy515 of net assets betwetn funds Itontlnuedl Analysls of net assets between funds- prior year Unrestricted funds 2024 Total funds 2024 Tangible fixed assets Current assets 4,509.518 2,361,505 150,2711 4.509.518 2,361,505 150,2711 Creditors due within one year Total 6,820,752 6,820,752 19. Recortciliation of net movement in funds to net cash Ilow from oper•ting artivities 2025 2024 Net income for the yèar las per Statement of Financial Activities) 268.166 206.766 AdjustmeDtsAor.' Depreciation charges Dividends, interests and rents from investments Oecreasellincreasel in debtors IOecreasel/in£rease in creditors 53.841 128.034) 722.527 10,020 54,794 1380,4451 2.499 Net cash pro¥idedby/fused inj operoting ortlvltles 1.026.520 1116.3861 20. Analy515 01 cash and cash equivalents 2025 2Q24 Cash in hand 1,993,461 939.623 Totalcosh and cash equivalents 1.993A61 939,623 Pa8e 32
D<Kusign Envelope ID.. 81157F1F-B4FF4B7C-SE31-7098Q1229BC BAADFORD FLOWER FUND HOMÉS IA company limited by guarantee) NOTES TO THE FINANCIALSTATEMENTS FOR TFIE YEAR ENDED 31 MARCH 2025 21. Analysis of changes In net debt At l April 2024 At 31 March 2025 Cash flaws Cash at bank and in hand 939.623 1.053.838 1.993.461 939.623 1.053.838 1,993.461 22. Related party transartions Durin8 the year the charitable company made the follovrring related party transactions.. Bradford Flower Homes De¥elopmEnts timited ISub5idiaryl Managèment charges totalling £8.69612024 - £8.6%} were received from Bradford Flower Homes Development Limited in the period. At the balance sheet date the amount due from 8radford Flower Homes Developmerbt Limited was £681.46412024- £1,406,253). Page 33