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2025-03-31-accounts

Charity numbers: 244067 & SCO40324

CHARTERED INSTITUTE OF HOUSING

(Incorporated under Royal Charter)

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

CHARTERED INSTITUTE OF HOUSING

(Incorporated under Royal Charter)

CONTENTS

Page
Reference and administrative details of the charity, its Trustees and advisers 1 – 2
Trustees' report 3 – 20
Independent auditors' report on the financial statements 21 – 23
Consolidated statement of financial activities 24
Consolidated balance sheet 25
Charity balance sheet 26
Consolidated statement of cash flows 27
Notes to the financial statements 28 – 54

CHARTERED INSTITUTE OF HOUSING (Incorporated under Royal Charter)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025

Trustees

Aileen Evans Vice Chair of the Governing Board and Chair of Governance, Ethics, Remuneration and Nomination Committee (GERN), member of Audit and Risk Committee (ARC) Chan Kataria Vice Chair of the Governing Board, Chair of ARC (appointed 14 October 2024) Non-Executive Director for Housemark (resigned 10 December 2024) Elly Hoult Vice-president until 14 October 2024, then president Foluke Ajayi Sangobowale Member of GERN Geraldine Howley Chair of Governing Board and member of GERN (resigned 14 October 2024), Non-Executive Director of CIH Asia International, Non-Executive Director of Canada Board Hannah Harvey Trustee (resigned 14 October 2024) Jill Murray President (resigned 14 October 2024) Joseph Carr Trustee (appointed 14 October 2024), co-opted Board Member prior, NonExecutive Director for Housemark (appointed 10 December 2024) John Hannigan Chair of Governing Board and member of GERN (appointed 14 October 2024), Chair of ARC prior Julie Haydon Current CIH vice-president (appointed 14 October 2024) Paul Simith Trustee (appointed 14 October 2024) Ria Bailes Member of GERN (resigned 7 July 2025) Vanessa Harwood-Whitcher Trustee (appointed 14 October 2024) Co-opted Board Members James Ballantyne Futures representative (re-appointed 14 October 2024) Nigel Finney Professional Standards Committee representative (re-appointed 14 October 2024)

Independent Committee Members

Anne Chapman Member of ARC Brett Sadler Member of ARC Evie Copland Member of GERN (resigned 24 March 2025) Ian McDermott Member of ARC (resigned 20 September 2024), Member of GERN (appointed 20 September 2024), Non-Executive Director of CIH Asia International Jerome Tsui Member of ARC (appointed 24 September 2024) Leke Adebiyi Member of ARC

Company Secretary

Sue Leppington Company secretary

Page 1

CHARTERED INSTITUTE OF HOUSING

(Incorporated under Royal Charter)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025 (CONTINUED)

Executive Team

Gavin Smart James Prestwich Josie Twinning Rachael Williamson

Sarah Dunkerley Sue Leppington

Chief executive Director, policy, communications and external affairs (resigned 30 September 2024) Director, membership and partnerships (resigned 14 June 2024) Director, policy, communications and external affairs (appointed 5 May 2025), formerly Interim director, policy, communications and external affairs (appointed 18 November 2024) Director, membership and professional development Director, finance and central services

Charity registered numbers

244067 and SCO40324

Principal office

Chartered Institute of Housing Suites 5-6 Rowan House Westwood Way Coventry CV4 8HS

Independent auditors

Crowe U.K. LLP Black Country House Rounds Green Road Oldbury West Midlands B69 2DG

Bankers

Barclays Bank plc 5 Colmore Row Birmingham B3 2WN

Solicitors

Trowers and Hamlins LLP 3 Bunhill Row London EC1Y 8YZ

Investment Managers

Raymond James Wealth Management Limited (formerly Charles Stanley and Company Limited) Ropemaker Place 25 Ropemaker Street London EC2Y 9LY

Page 2

CHARTERED INSTITUTE OF HOUSING (Incorporated under Royal Charter)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025

The Trustees of Chartered Institute of Housing (CIH, also referred to as the Institute) submit their annual report and the audited financial statements for the year ended 31 March 2025.

The trustees have adopted the provisions of the “Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)” in preparing the annual report and financial statements of the charity.

Objectives and activities

In setting the objectives, planning the activities, and reporting on the performance of CIH, the trustees have carefully considered the Charity Commission guidance on public benefit. Our charitable objectives and public interest requirement guide our business and corporate planning.

CIH is the independent voice for housing and the home of professional standards. Our objects are to promote the science and art of housing, its standards and ideals and the training and education of people who work in housing.

We maintain our public benefit by providing education and training programmes and using evidence, both research and practice based, to influence and shape housing policy and implementation. We disseminate information and knowledge to, and for, the industry through our membership and communication networks.

Our objectives and activities in the year were driven by our corporate plan for 2024-27, which sets out our vision for CIH and the profession.

The plan’s mission is “to support housing professionals to create a future in which everyone has a place to call home.” It sets out how we will:

Achievements and performance

a. Membership and professional development:

Membership performance

It has been a successful year for membership with continued growth in paying members. As at 31 March 2025, we had 12,261 paying members in the UK, compared to 10,292 in the previous year - growth of 19.1 per cent.

During the year, we have continued to focus on improving the service we provide and the benefits we offer, placing membership at the heart of everything we do. We have also continued to improve the quality of our member data.

Continuing the trend of recent years, new member recruitment was strong with 3,959 new paying members joining CIH including 1,425 learner concessionary members. This represents an increase of 55.7 per cent on the prior year and is our most successful year in recent memory.

In order to ensure our membership offer continues to meet the needs of the sector, we launched a membership strategy project in the Summer of 2024. This work is being undertaken in conjunction with two external agencies – Think Publishing and Mustard Research – this has highlighted a number of themes which we are exploring to ensure our membership offer continues to grow and develop. We’ll continue to engage with members throughout this process.

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CHARTERED INSTITUTE OF HOUSING

(Incorporated under Royal Charter)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025

Achievements and performance (continued)

a. Membership and professional development (continued):

Membership performance (continued)

Our global membership is 20,325 as at 31 March 2025.

Regional member groups and Devolved Nations Boards

We continue to benefit from the work of a team of committed and loyal volunteers.

CIH regional groups are in place across England, with National Boards in Scotland, Wales, Northern Ireland and the Republic of Ireland promoting membership and pulling together events with relevant content for their local area.

Conference and events activity

Our membership inclusive events offer remains a key benefit with members telling us they really appreciate the breadth of the offer and the value it provides. Total attendance at our events this year was 7,701 attendees across 57 events. Investment in the team and a realignment of our offer has given us the opportunity to further establish and embed our programme this year.

We continued to focus on event content and experience, maximising engagement to encourage membership growth. Demand for both in-person and virtual event content remains high and is central to our offer allowing maximum engagement and accessibility for our members.

The All-Ireland Summit this year achieved record breaking numbers of attendees. Our Welsh and All-Ireland Awards showed further growth in attendance and nominations compared to the prior year.

Our work with colleagues at the National Housing Federation (NHF) to create the ultimate housing event - The Housing Community Summit (HCS) – was incredibly successful and exceeded all expectations in terms of attendance and feedback from the sector. The event has subsequently won a bronze award for Best Association Event at the Conference and Event Awards 2025. The HCS returns to Liverpool in September 2025 with an enhanced offer. Again, CIH and NHF members are invited to attend the Housing in Practice space inclusive of their membership which will be full of content, learning and networking opportunities. Members can also pay to attend Housing in Focus - a ticketed space dedicated to thought leadership from top political speakers and housing’s senior leaders, with a focus on business strategy and delivering social purpose.

Awarding body

A total of 1,872 CIH qualifications were awarded in 2024-25 compared with 1,753 in 2023-24. We continue to work with approximately 30 approved centres offering CIH qualifications and this year have really benefitted from the improvements to our IT infrastructure. This has enabled us to work more smoothly with centres to register and certificate learners.

The team and our centres have continued to gear up to meet recently introduced legislation around mandatory qualifications for senior managers and senior executives in the housing sector, ensuring that our qualifications are fit for purpose and with sufficient capacity to meet the anticipated increase in demand. The implementation from government was delayed due to the general election held in July 2024, however we have still seen steady growth this year.

Our apprenticeship end point assessment (EPA) service has continued to be offered completely online with virtual panels and interviews. We continue to see a varied pattern of activity on apprenticeships in line with national trends. The housing apprenticeship framework is currently being redeveloped and funding for apprenticeships is undergoing a review from government. A total of 296 apprentices registered for EPA with CIH in the year, compared to 462 in 2023/24.

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CHARTERED INSTITUTE OF HOUSING (Incorporated under Royal Charter)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025

Achievements and performance (continued)

a. Membership and professional development (continued):

Housing Academy

The CIH Housing Academy has registered a total of 1,872 learners for CIH qualifications throughout the year. This compares to 1,619 in 2023/24. We continue to work with the sector to offer a range of delivery models, combining on-line and face to face learning to meet customers’ needs. We have continued to embed a UK wide approach to the delivery of qualifications and training, while continuing to deliver nation-specific content where appropriate. We offer bespoke programmes with employers, both in the UK and internationally, and with partners in the public and private sectors.

We have continued to gear up to meet the expected mandatory qualifications requirement coming through from the Social Housing (Regulation) Act. Although delayed due to the general election and change of government in July 2024, we anticipate further growth in the coming year.

Our training team has focussed on maximising our bespoke training offer with key partners. All training through our open programme is offered on-line, and this flexibility has proved popular with customers. We provided training to 504 individual delegates across 44 sessions of our open programmes with a further 63 days of bespoke programme delivery to organisations.

Professionalism

Our CIH professional standards, focusing on the key behaviours required of those working in housing, continue to be well received and are being used across the sector as the basis for values statements and career development activities and frameworks. The self-assessment tool continues to be well used.

We have clarified and developed the guidance for members around CPD. This work will continue over the coming year as the requirements of the Social Housing (Regulation) Act become clearer.

We have also further developed our criteria and process for experiential routes to chartered membership, providing a clearer pathway for those members who wish to progress through their membership grades.

b. Partnerships

Corporate partnerships

Our corporate partnership function (our key sales channel for high spend customers) surpassed all expectations this year. The introduction of the Housing Community Summit and a focus on improving our exhibition and sponsorship offer enabled us to record sales of £3.36m, significantly exceeding our target of £1.9m. This represents a 66 per cent increase on the previous financial year.

Our partnership turnover is made up of four products; 25 per cent of spend is on membership, 37 per cent on events, 2 per cent on training and 36 per cent on qualifications.

Our corporate partners are from across the whole sector including housing associations and local authorities, as well as commercial organisations. Our largest membership revenue partner was the Housing Ombudsman Service closely followed by the Northern Ireland Housing Executive. The Northern Ireland Housing Executive was also our largest qualification revenue partner followed by Hull City Council. Our largest events revenue partner was Aico. We look forward to continuing to strengthen our current partnerships and establishing new partnerships in the future.

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CHARTERED INSTITUTE OF HOUSING (Incorporated under Royal Charter)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025

Achievements and performance (continued)

c. Policy and external affairs

Influencing and evidence

With the support of the Policy Advisory Committee (PAC), and the Devolved Nations Boards, CIH continued to seek to influence policy development and practice in the four nations, to represent the Housing sector and our members and to be a leading voice for the profession.

A summary by nation is provided as follows:

CIH England

CIH Northern Ireland

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CHARTERED INSTITUTE OF HOUSING (Incorporated under Royal Charter)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025

Achievements and performance (continued)

c. Policy and external affairs (continued)

CIH Northern Ireland

CIH Cymru

CIH Scotland

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CHARTERED INSTITUTE OF HOUSING (Incorporated under Royal Charter)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Achievements and performance (continued)

c. Policy and external affairs (continued)

CIH Scotland (continued)

Media coverage

During the year, we continued to identify and exploit high-profile broadcast, online and print media opportunities for CIH messages, including our research, policy positions and campaigns, our learning role and the benefits of membership. We have been more proactive in our approach, reaching out to media outlets regularly to provide statements on government announcements, changes in housing policy and breaking news, as well as keeping them abreast of the work we are undertaking.

In total we have had 476 pieces of online and print coverage across trade and mainstream media publications, up from 398 pieces in the prior year. Throughout the year, we wrote several comment pieces for a variety of publications on numerous housing topics. We had 42 comment pieces published. These have featured across the housing trade press and in the mainstream media across the devolved nations. Highlights have included:

We have spoken on various national and regional news programmes and radio broadcasts, securing 25 pieces of broadcast coverage. Scotland, in particular, continues to see huge growth in mainstream media coverage. Broadcast highlights include:

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CHARTERED INSTITUTE OF HOUSING

(Incorporated under Royal Charter)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Achievements and performance (continued)

c. Policy and external affairs (continued)

Social media

We are constantly investigating how we can better use our social media to grow both our impressions and engagements.

At the start of the year, we had two main social media channels: X (formerly Twitter) and LinkedIn. From summer 2024, engagement on X stagnated. At the start of 2025, with an increasing amount of inciteful and unhelpful comments on X and the inflammatory debate and misinformation on the platform, we took the decision to pause all activity on the platform.

We identified Bluesky as an alternative platform, and in January 2025 we launched Bluesky CIH accounts. These accounts continue to grow, with our following increasing to 727 followers on the CIH main account. We also have created accounts for CIH policy, CIH events, CIH Cymru, CIH Scotland, CIH Northern Ireland and CIH Ireland which are all growing too.

LinkedIn continues to expand, as our predominant social media platform. We receive a significant number of post reactions, comments, and shares, indicating active engagement and the institute's ability to create valuable content that resonates with its professional network.

CIH’s main LinkedIn account has:

By maintaining an active presence and providing meaningful content, CIH effectively expanded its reach, influence, and engagement with professionals across social media.

Financial Review

In addition to CIH’s own activities, these accounts include the licence fee received from Housemark Limited, an associate company offering benchmarking and sector improvement services and business intelligence. Our share of Housemark’s income and net assets has been included as a joint venture in the group financial statements.

a. Financial position

The trading environment for the charity during the year ended 31 March 2025 remained favourable with significant demand for membership, and qualifications. Membership subscriptions and levy income increased by 5.4 per cent year on year. Our business-to-business relationships with corporate partnerships have performed strongly with sales of £3.36m, exceeding £3m for the first time. Demand has significantly increased for qualifications and membership reflecting the desire to demonstrate professionalism in the sector.

We received a substantial legacy from a former member, Mr Anthony Babbage who passed away in May 2020 in October 2024. In accordance with our legacy accounting policy, we recognised an estimated legacy in the prior year of £1.1m. The actual amount received was £1,112,164, resulting in an additional £12,164 being recognised in the year. The trustees are hugely grateful for such a generous gift. The trustees have created two designated funds with £660,000 of this legacy to maximise the work of the charity.

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CHARTERED INSTITUTE OF HOUSING (Incorporated under Royal Charter)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Financial Review (continued)

a. Financial position (continued)

Income was £10.034m, exceeding £10m for the first time in a number of years driven by the increase in qualifications. Net expenditure on charitable activities was significantly higher for the year at £9,337k (2024: £7,552k). This reflects the investment required in the organisation to meet increasing demand. The most noticeable change in the cost base was the delivery of the Housing Community Summit which increased overheads by £348k and was considered a resounding success by all who attended.

Our associate company Housemark Limited, a joint venture with the NHF, accounted for a return in respect of its licence fee of £263k for the year. Our share of after-tax profit for Housemark for their year ended 31 December 2024 has also been included as “share of joint venture net income” and has increased our reported surplus by £72k for the year.

The overall consolidated net income surplus before revaluations of £772k (down from £2,311.3k for the prior year) represents the sixth successive year of surpluses.

As a result of the above, the balance sheet shows net assets of £8,693k and represents an improvement of £739k on the prior year. This includes our share of Housemark’s net assets of £738k. The Institute is now in a sustainable and resilient financial position able to meet the needs of the housing sector.

b. Reserves and designated funds

CIH holds financial reserves to be applied to future activities in a number of categories:

It is the intention of the trustees to hold sufficient reserves to enable expenditure to be reduced in a managed fashion, should the need arise, avoiding the need to halt work abruptly. The trustees have agreed that free reserves should normally be 12 months of such essential expenditure. As at 31 March 2025, this is estimated to be £10.3m.

At the year end, the level of net assets is £8,693k, of which 64 per cent (£5,566k) is cash and 24 per cent (£2,078k) is freely available being investment funds. In addition, the level of free reserves as at 31 March 2025 is £7,006k (2024: £6,919k), which includes investment property of £2,345k (2024: £2,345k). The trustees are pleased to report that the Institute continues to report positive annual cashflows and therefore consider the reserve position above to be adequate.

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CHARTERED INSTITUTE OF HOUSING

(Incorporated under Royal Charter)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Financial Review (continued)

b. Reserves and designated funds

The trustees have also agreed the following principles for the prioritisation of annual surpluses as they are accrued in future years:

c. Going concern

CIH has net assets of £8,693k (2024: £7,954k) at the year-end. Performance has seen steady growth during the year ended 31 March 2025.

In the current and subsequent years, we expect income streams to continue to grow, due to the new professional standards being introduced as part of the Social Housing (Regulation) Act, part of which proposes the introduction of mandatory qualifications for senior colleagues within the social housing sector. We continue to look at new and innovative products whilst continuing to ensure best value procurement within the charity. The board have reviewed future cash projections, and the trustees take comfort that further savings opportunities are available should the need arise.

The trustees consider the following to be the key risks to be considered in assessing going concern:

Having reviewed stress testing on the ability to mitigate income reduction, the favourable liquidity position, the management reporting framework including the identification of opportunities not included in forecasts, the opportunity to secure additional funding should the need arise, the initial improved performance against the approved budget, the more general risk management framework and the process of regularly reviewing financial performance, the trustees believe that material uncertainties can be mitigated and/or managed appropriately and on this basis, CIH’s Governing Board confirms the going concern status for CIH.

Structure, governance and management

a. Structure

The performance of our wholly owned subsidiaries, CIH Canada and CIH Asia International, is stable with a focus on further growth. CIH continues to grow in the Republic of Ireland with a well-established board, a National director and a member liaison officer in place and the continued development of the operational plan underway.

Housemark Limited is an associate company (jointly owned with the National Housing Federation) offering benchmarking and sector improvement services and business intelligence. This company is registered at Companies House under company number 03822761.

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CHARTERED INSTITUTE OF HOUSING (Incorporated under Royal Charter)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Structure, governance and management (continued)

b. Governance

The appointed CIH Governing Board comprises eleven trustees. The board is responsible for the management of the business of the Institute. This includes setting the strategic direction of CIH, determining priorities, ensuring performance, and managing risk and accountability, compliance, viability, and sustainability. The governing board exercises all the powers of the Institute which are not otherwise required by the Charter and Byelaws to be exercised by the membership in a general meeting.

The governing board oversees the business of the national boards in Scotland, Wales, Northern Ireland and the Republic of Ireland, the nine regional groups in England, the newly created EDI Board, CIH International Subsidiaries and the delegated boards and committees:

The trustees are required, by the Charter and Byelaws, to meet a minimum of four times per year and in 2024/2025 they held four meetings between April 2024 and March 2025. Governance costs include expenditure relating to advice on and compliance with all regulatory and legal obligations, audit costs, costs of meeting constitutional and statutory requirements, trustee and board committee meetings, costs of all strategic planning processes and the executive staff costs incurred in supporting the governance activities, company secretariat and support staff.

A schedule of current trustees and those who served terms of office during 2024/2025 is included on page 1.

During the year, the trustees have commenced a governance review to assess how the governance of the institute can be streamlined and improved to provide the best possible outcomes for members. It is anticipated that this will be completed by December 2025.

Audit and Risk Committee (ARC)

The membership of the ARC comprises two trustees and four independent members. The chair of the committee is a trustee. The company secretary attends all ARC meetings. The ARC has met on three occasions this year.

The scope of the ARC is authorised by the Governing Board, and includes the following activities:

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CHARTERED INSTITUTE OF HOUSING (Incorporated under Royal Charter)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Structure, governance and management (continued)

b. Governance (continued)

Governance, Ethics, Remuneration and Nomination Committee (GERN)

The membership of the GERN Committee comprises three trustees and one independent member. The chair of the committee is a trustee. The company secretary attends all GERN Committee meetings. The GERN Committee has met on three occasions this year.

The GERN Committee is authorised by the Governing Board to oversee;

Remuneration and nomination of the Governing Board and Executive Team

The Charter and Bye laws require Governing Board members to be recruited by means of a selection panel. Members are appointed based on their skills and the experience they bring to the board and shall become trustees after they have been recommended by the Trustee Recruitment Panel and subsequently approved by the Governing Board and then members in the Institute’s Annual General Meeting (AGM).

At each AGM, one third of the trustees retire (in addition to any otherwise required to retire) and where possible, the trustees to retire are those who have been appointed members of Governing Board for the longest period.

If a person has served on the Governing Board as a trustee for a continuous period of six years, they shall be ineligible for re-appointment as a trustee at the AGM at which they cease to hold office.

The president is elected through a nomination and voting process for the vice president role. Calls for nomination for the position of vice president are made in a timely manner to be completed and put before the AGM in that year. At each AGM, the vice president becomes president and a trustee ex-officio for so long as they are president. The retiring president ceases to hold office and retires as a trustee.

Each member of the board undertakes induction training, consisting of a comprehensive briefing by the chair of the board, the chief executive and the company secretary with emphasis placed on the legal status and the responsibility of a trustee.

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CHARTERED INSTITUTE OF HOUSING (Incorporated under Royal Charter)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Structure, governance and management (continued)

b. Governance (continued)

Remuneration and nomination of the Governing Board and Executive Team (continued)

In addition, all new trustees have a thorough introduction with directors and key staff. An induction pack is provided to each trustee including CIH’s Charter and Bye Laws, Governance Framework and reference documents relating to the role of trustee from the Charity Commission. This is updated as required throughout the year and updates are provided to the trustees.

Trustees review and sign conflict of interest forms on joining CIH and then annually thereafter.

Awarding Organisation Committee (AOC)

The committee is made up of two independent members, a governing board link and operational team members from the awarding organisation (AO).

The AOC has met on three occasions this year, overseeing the work of the CIH awarding organisation and monitoring compliance against the regulatory conditions of recognition. A self-assessment was completed and submitted to our regulator in Scotland in January 2025. The annual statement of compliance was reviewed and recommended as complete to Governing Board and was signed off and submitted in December 2024 for the regulators in England, Wales and Northern Ireland.

The role of the AOC is to:

Professional Standards Committee (PSC)

The PSC comprises 9 independent members with the chair being a co-opted member of the Governing Board. The PSC has met on three occasions this year, overseeing complaints relating to breaches of the code of conduct, developing an operational plan to promote CIH professional standards and further developing work on continuing professional development.

Their work this year has focused on updating the codes, overseeing complaints, and providing a steer on work around continuing professional development. Members of the committee also ran a well-received session on professionalism at the Housing Community Summit in Liverpool in September 2024.

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CHARTERED INSTITUTE OF HOUSING (Incorporated under Royal Charter)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Structure, governance and management (continued)

b. Governance (continued)

Professional Standards Committee (PSC) (continued)

The PSC monitors adherence to the CIH code of conduct including:

Policy Advisory Committee (PAC)

The PAC acts as a sounding board for CIH’s responses to emerging housing issues and policy development; providing insight, advice and expertise on housing and related policy areas. PAC helps CIH to:

The PAC comprises twelve independent members. The link to the Governing Board is provided by the Director of policy, communications and external affairs. The PSC has met on four occasions this year.

In 2024/25, PAC activity included:

Futures Board

CIH Futures is CIH's young professionals’ network. Since it was established in 2017, it has existed to ensure the housing sector has a viable future, with a core aim of making CIH membership relevant for young people.

To date, the group has negotiated a concessionary offer for housing professionals under 30, led several National Careers Week campaigns to promote careers in housing and launched countless initiatives to showcase the work of young people in the sector from across the UK.

CIH Futures comprise 13 independent members with the former chair being a co-opted member of the Governing Board. Futures have met on twelve occasions this year with the Chair and Vice chair meeting with CIH on seven occasions.

In the last 12 months, CIH Futures have represented CIH and acted as ambassadors for membership at numerous key housing events across the UK and Ireland. They have recruited additional members to ensure continuity and to facilitate succession planning.

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CHARTERED INSTITUTE OF HOUSING

(Incorporated under Royal Charter)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Structure, governance and management (continued)

c. The CIH Governance Framework

Good governance in charities is fundamental to their success. It enables and supports a charity’s compliance with the law and relevant regulations. It also promotes a culture where everything works towards fulfilling the charity’s vision.

CIH seeks to ensure that its governance arrangements are of the highest order and inspire confidence and trust in the organisation.

The latest iteration of the Charter and Byelaws was approved early in 2023 by the Privy Council, with the aim of further improving their relevance. The Governance Framework was aligned with these changes shortly after.

The CIH Governance Framework aligns with the Charity Governance Code and adopts the “apply or explain” approach that is the trademark of the Charity Governance Code. It is the foundation of the CIH Governance Framework’s flexibility.

CIH has a strong reputation throughout the housing sector, and it plays a vital role through its members and its influence, in shaping the lives of millions of people through its work to improve the homes and communities in which they reside.

CIH trustees and board members therefore carry an important responsibility to manage the organisation and deliver on its objectives in a way that enhances trust and support among its stakeholders.

The Governance Framework sets out clearly the principles that trustees and other decision makers follow. It also provides clear information about what those principles mean in practice.

d. Leadership

John Hannigan was appointed Chair of the Governing Board at the AGM on 14 October 2024, succeeding Geraldine Howley who stood down at the end of her second term. The Chair has been supported by Aileen Evans and Chan Kataria as Vice Chairs.

Elly Hoult took over as President at the AGM. The current Vice President is Julie Haddon who takes up office as President at the AGM in October 2025 and was co-opted to the Governing Board at the AGM.

In addition to the retirement of the Chair Geraldine Howley, one trustee also retired at the AGM, Hannah Harvey.

The board appointed three trustees at the AGM:

Joseph Carr who has finance expertise and was previously co-opted Vanessa Harwood-Whitcher who has membership/professional body expertise Paul Smith who has membership and training expertise

The board agreed to co-opt two members onto the Governing Board during the year ended 31 March 2025:

James Ballantyne, Future's representative Nigel Finney, Professional standards representative

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CHARTERED INSTITUTE OF HOUSING (Incorporated under Royal Charter)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Structure, governance and management (continued)

e. Management

The day-to-day management of CIH is delegated by the Governing Board to the Chief executive and the Executive Team. The executive team was restructured in September 2024 moving from four executive directors supporting the Chief Executive to three executive directors. Responsibility for membership was transferred to Sarah Dunkerley (formerly Director, professional development), responsibility for business development, customer services, and marketing was transferred to Sue Leppington, Director of finance and central services, and responsibility for communications transferred to James Prestwich (formerly Director, policy, and external affairs). This was to enable better strategic alignment of priorities across CIH.

The Executive Team for 2024/2025 comprised:

Gavin Smart Chief executive
James Prestwich Director, policy, communications and external affairs (resigned 30 September 2024)
Josie Twinning Director, membership and partnerships (resigned 14 June 2024)
Rachael Williamson Director, policy, communications and external affairs (appointed 5 May 2025),
formerly Interim director, policy, communications and external affairs (appointed 18
November 2024)
Sarah Dunkerley Director, membership and professional development
Sue Leppington Director, finance and central services

f. Trustees' responsibilities statement

The trustees of CIH are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards).

The law applicable to charities in England, Wales, Scotland and Northern Ireland requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and the group and of the incoming resources and application of the resources of the group for that period.

In preparing these financial statements, the charity trustees are required to:

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity’s transactions, disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and the provisions of the charity’s constitution.

They are also responsible for safeguarding the assets of the charity and the group and for taking reasonable steps to prevent and detect fraud and other irregularities.

Page 17

CHARTERED INSTITUTE OF HOUSING (Incorporated under Royal Charter)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Structure, governance and management (continued)

f. Trustees' responsibilities statement (continued)

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable group's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Trustees also determine the strategic course of the Institute and monitor progress against corporate plans and review its constitutional, statutory, and financial responsibilities.

g. Risk management

Policies and procedures are designed to identify, assess and mitigate risk. The ARC examines and actively reviews the major strategic, business, and operational risks that CIH faces and reports back to the Governing Board trustees, via the chair of the ARC who is a member of the Governing Board and a trustee.

The Executive Team carries out regular reviews of the strategic risk register, and twice a year conducts a directorate review of operational risks.

The results of these reviews are reported through to the ARC including the key risks and controls in place and their operation.

The key strategic risks which have been identified are:

These key strategic risks are recorded in the strategic risk register, which records the mitigation that is in place, together with further action. The Executive Team and the ARC keep the risks under review and consider appropriate mitigating actions, which are detailed in the risk register.

The mitigating actions are ranked in order of priority and have contingency plans built in. The Governing Board receives regular reports on risk management from the ARC.

The trustees, as a body, are together responsible for establishing, implementing, and monitoring the internal financial controls. The detailed oversight of the internal financial controls is delegated to the ARC.

The ARC has taken note of the guidance from the Charity Commission on Internal Financial Controls and have completed the checklist provided by the Charity Commission as guidance to evaluate CIH’s performance against the legal requirements and good practice recommendations set out in this guidance. The ARC is satisfied with the level of compliance and any actions identified to improve the controls.

The ARC met three times between April 2024 and March 2025. An assurance framework was developed in conjunction with the appointed Internal Auditors, Beever and Struthers. The framework was part of a three-year audit strategy and annual internal audit plan.

Page 18

CHARTERED INSTITUTE OF HOUSING

(Incorporated under Royal Charter)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Structure, governance and management (continued)

g. Risk management (continued)

In 2024/25, the following internal audits were planned and undertaken:

The annual opinion from the internal auditors is, based upon and limited to the work performed, on the overall adequacy and effectiveness of the organisation’s risk management, control and governance processes.

Equality, diversity and inclusion

At CIH, we feel it is incredibly important to understand our membership and the people and communities we serve. We’re incredibly proud to hold the prestigious RACE Equality Code Quality Mark in recognition of our commitment to improving equality, diversity and inclusion in our organisation, throughout our membership and across the housing sector.

The RACE Code stands for Reporting, Action, Composition and Education and is based on current laws, reports, charters and pledges. The most important aspect of achieving this standard is the commitments made to further improve and support its diverse workforce.

We continued to work with a wide range of colleagues and members on our EDI action plan and the commitments therein, encouraging completion of our EDI census to ensure CIH shows the leadership on EDI that the sector deserves.

This year we’re proud to have established a delegated EDI board, equal in status to CIH Futures and our Devolved Nations Boards. Twelve members have been recruited to the board which has met twice in the year. The aim is to provide scrutiny and insight from members to ensure CIH leads the housing sector on EDI

There is still much work to be done. We continue to work with our members and the wider sector to highlight why it’s important to create a fair and inclusive environment where the breadth of talent that exists among our community is reflected in board rooms, executive teams and in the decision making across the whole sector

Page 19

CHARTERED INSTITUTE OF HOUSING (Incorporated under Royal Charter)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Investment strategy and performance

The trustees’ investment powers are set out within CIH’s Charter and Byelaws. Accordingly, trustees engage and instruct Raymond James Wealth Management Limited (“Raymond James”) and Barclays Bank to manage the investment portfolio. Both managers act within CIH’s investment policy and, in addition, use an independent screening and monitoring agency which ensures that the requirements of the CIH for socially and environmentally responsible investment are upheld. Raymond James is instructed to follow an approach that is consistent with sustainable investment.

Not only must our investments offer sound potential return, but the companies should conduct themselves in a way that is both socially and environmentally responsible. We favour selection of those companies with ethical business practices that promote desirable goals such as sustainable development and mitigating climate change. Our investment objective is to maintain the real value of assets and protect the capital base whilst providing a rising level of investment income.

Trading conditions were difficult driven by uncertainty over tariffs in international markets, and the portfolio made a loss of £30k in the year (1.4 per cent). Investment income of £58k was down on the prior year figure of £61k. Our portfolio spans a wider range of asset classes than equity and bonds and seeks to generate return from a variety of sources. Our portfolio is reviewed continuously to ensure it remains within market indicators.

Disclosure of information to auditors

Each of the persons who are trustees at the time when this Trustees' report is approved has confirmed that:

Auditors

The auditors, Crowe U.K. LLP, have indicated their willingness to continue in office. The designated trustees will propose a motion reappointing the auditors at a general meeting of the members.

Approved by order of the members of the board of trustees and signed on their behalf by:

John Hannigan Chair Date: 8 September 2025

Page 20

CHARTERED INSTITUTE OF HOUSING

(Incorporated under Royal Charter)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CHARTERED INSTITUTE OF HOUSING

Opinion

We have audited the consolidated financial statements of Chartered Institute of Housing (‘the charity’) and its subsidiaries (‘the group’) for the year ended 31 March 2025 which comprise the consolidated statement of financial activities, the consolidated balance sheet, the charity balance sheet, the consolidated statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and 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).

The financial statements have been prepared in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

This has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’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 relating to going concern

In auditing the financial statements, we have concluded that the trustee's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's or the group’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information contained within the annual report. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements

Page 21

CHARTERED INSTITUTE OF HOUSING

(Incorporated under Royal Charter)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CHARTERED INSTITUTE OF HOUSING (CONTINUED)

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 and the Charities Accounts (Scotland) Regulations 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the group and the parent charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 151 of the Charities Act 2011, and section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and report in accordance with the Acts and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Details of the extent to which the audit was considered capable of detecting irregularities, including fraud and noncompliance with laws and regulations are set out below.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We identified and assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud or error, and discussed these between our audit team members including component audit teams. We then designed and performed audit procedures responsive to those risks, including obtaining audit evidence sufficient

Page 22

CHARTERED INSTITUTE OF HOUSING

(Incorporated under Royal Charter)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CHARTERED INSTITUTE OF HOUSING (CONTINUED)

We obtained an understanding of the legal and regulatory frameworks within which the charity and group operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Charities Act 2011 and The Charities and Trustee Investment (Scotland) Act 2005 together with the Charities SORP (FRS102) 2019. We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the charity’s and the group’s ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the charity and the group for fraud. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any.

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within the override of controls by management. Our audit procedures to respond to these risks included enquiries of management, sample testing on the posting of journals, reviewing accounting estimates for biases, reviewing regulatory correspondence with the Charity Commission and reading minutes of meetings of those charged with governance.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there compliance and cannot be expected to detect non-compliance with all laws and regulations.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008 and Regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing nonwork, for this report, or for the opinions we have formed.

Crowe U.K. LLP

Statutory Auditor Black Country House Rounds Green Road Oldbury West Midlands B60 2DG

Date: 10 September 2025

Crowe U.K. LLP is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

Page 23

CHARTERED INSTITUTE OF HOUSING

(Incorporated under Royal Charter)

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025

Note
Income from:
Donations and
legacies
4
Charitable
activities
5
Investments
6
Other income
7
Total income
Expenditure on:
Charitable
activities
8
Total
expenditure
Net income
before share of
joint venture
Share of joint
venture net
income
Net income
before net (loss)
/ gain on
investments
Net (loss) / gain
on investments
Net movement in
funds before
other recognised
gains / (losses)
Gains on
revaluation of
fixed assets
Net movement in
funds
Reconciliation of
funds:
Total funds
brought forward
Net movement in
funds
Transfers
Foreign exchange
Total funds
carried forward		 Unrestricted
funds
2025
£
12,164
9,143,535
336,936
257,523
9,750,158
(9,041,209)
(9,041,209)
708,949
71,719
780,668
(30,140)
750,528
-
750,528
7,886,247
750,528
(660,000)
(2,900)
7,973,875		 Designated
funds
2025
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
660,000
-
660,000		 Restricted
funds
2025
£
174,697
110,665
1,247
-
286,609
(295,362)
(295,362)
(8,753)
-
(8,753)
-
(8,753)
-
(8,753)
67,493
(8,753)
-
-
58,740		 Total
funds
2025
£
186,861
9,254,200
338,183
257,523
10,036,767
(9,336,571)
(9,336,571)
700,196
71,719
771,915
(30,140)
741,775
-
741,775
7,953,740
741,775
-
(2,900)
8,692,615		 Total
funds
2024
£
1,304,997
8,047,227
268,944
_150,704 _
9,771,872
(7,551,531)
(7,551,531)
2,220,341
90,978
2,311,319
103,541
2,414,860
10,000
2,424,860
5,531,122
2,424,860
-
(2,242)
7,953,740

The Consolidated statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 28 to 54 form part of these financial statements.

Page 24

CHARTERED INSTITUTE OF HOUSING

(Incorporated under Royal Charter)

CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2025

2025 2024
Note £ £
Fixed assets
Intangible assets 14 397,551 363,556
Tangible assets 15 437,503 470,785
Investments property 16 2,345,000 2,345,000
Investments 17 2,281,662 2,306,850
Share of net assets in joint venture 30 737,766 666,047
6,199,482 6,152,238
Current assets
Debtors 18 1,567,388 2,505,908
Cash at bank and in hand 5,565,908 2,911,628
7,133,296 5,417,536
Creditors: amounts falling due within one
year 19 (4,626,663) (3,608,534)
Net current assets 2,506,633 1,809,002
Total assets less current liabilities 8,706,115 7,961,240
Provisions for liabilities 21 (13,500) (7,500)
Net assets 8,692,615 7,953,740
Charity funds
Restricted funds 22 58,740 67,493
Designated funds 22 660,000 -
Unrestricted funds
Unrestricted funds excluding exchange rate 22 7,979,017 7,888,489
reserve
Exchange rate reserve 22 (5,142) (2,242)
Total unrestricted funds 22 7,973,875 7,886,247
Total funds 8,692,615 7,953,740

The financial statements were approved and authorised for issue by the trustees and signed on their behalf by:

Chan Kataria

Trustee Date: 8 September 2025

The notes on pages 28 to 54 form part of these financial statements.

Page 25

CHARTERED INSTITUTE OF HOUSING

(Incorporated under Royal Charter)

CHARITY BALANCE SHEET AS AT 31 MARCH 2025

2025 2024
Note £ £
Fixed assets
Intangible assets 14 397,551 363,556
Tangible assets 15 432,078 464,782
Investment property 16 2,345,000 2,345,000
Investments 17 2,281,662 2,306,850
5,456,291 5,480,188
Current assets
Debtors 18 1,685,551 2,607,064
Cash at bank and in hand 5,034,802 2,411,244
6,720,353 5,018,308
Creditors: amounts falling due within one
year 19 (4,384,848) (3,357,027)
Net current assets / (liabilities) 2,335,505 1,661,281
Total assets less current liabilities 7,791,796 7,141,469
Provisions for liabilities 21 (13,500) (7,500)
Net assets 7,778,296 7,133,969
Charity funds
Restricted funds 22 58,740 67,493
Designated funds 22 660,000 -
Unrestricted funds 7,059,556 7,066,476
Total funds 7,778,296 7,133,969

The charity's net movement in funds for the year was £ 644,327 (2024: £2,283,480).

The financial statements were approved and authorised for issue by the trustees and signed on their behalf by:

Chan Kataria

Trustee Date: 8 September 2025

The notes on pages 28 to 54 form part of these financial statements.

Page 26

CHARTERED INSTITUTE OF HOUSING

(Incorporated under Royal Charter)

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025

Cash flows from operating activities
Net cash inflow from operating activities (Note 24)
Cash flows from investing activities
Dividends, interests and rents from investments
Purchase of intangible assets
Purchase of tangible fixed assets
Proceeds from the sale of tangible fixed assets
Proceeds from sale of investments
Purchase of investments
Movement on cash held for reinvestment
Net cash provided by investing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year		 2025
£
2,536,939
338,183
(165,252)
(36,040)
-
660,108
(674,456)
(5,202)
117,341
2,654,280
2,911,628
5,565,908		 2023
£
1,358,611
268,944
(54,687)
(78,806)
942
500,988
(541,524)
15,332
111,189
1,469,800
1,441,828
2,911,628

The notes on pages 28 to 54 form part of these financial statements.

Page 27

CHARTERED INSTITUTE OF HOUSING (Incorporated under Royal Charter)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1. General information

Chartered Institute of Housing (CIH) was incorporated in the United Kingdom under Royal Charter on 25 June 1984 and has no share capital. CIH is registered as a charity with the Charity Commission England and Wales (registered no. 244067) and the Office of the Scottish Charity Regulator (registered no. SCO40324).

The registered and principal office is Chartered Institute of Housing, Suites 5 & 6, Rowan House, Westwood Way, Coventry. CV4 8HS.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Charities Act 2011, the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended).

Chartered Institute of Housing 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 policy.

The Group has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own statement of financial activities in these financial statements.

The Consolidated statement of financial activities (SOFA) and Consolidated balance sheet consolidate the financial statements of the charity and its subsidiary undertakings. The results of the subsidiaries are consolidated on a line-by-line basis, all intra-group transactions and balances with the subsidiaries are eliminated on consolidation. Joint ventures are stated in the group’s share of net assets, to the extent this is not impaired, and the group’s share of the profits or losses of the joint venture is included in the Consolidated statement of financial activities using the equity accounting basis. The financial statements of the joint venture are made up to 31 December and figures reflected in the consolidation are taken from the most recent available financial statements with adjustments made, where applicable, for the effects of any significant transactions or events occurring between accounting period ends.

2.2 Going concern

The Trustees consider they have sufficient reserves and cash to continue operating on a going concern basis for the foreseeable future.

As stated in the Trustee’s Report, Trustees believe there are no material uncertainties that call into doubt the charity's ability to continue as a going concern and the accounts have therefore been prepared on the basis that the charity is a going concern. In the short-term, cash holdings are sufficient to ensure adequate cashflow for the foreseeable future. In the medium to long term plans, the Chartered Institute of Housing remains extant, and the structure and operations will continue to be reviewed regularly.

Page 28

CHARTERED INSTITUTE OF HOUSING (Incorporated under Royal Charter)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

2. Accounting policies (continued)

2.3 Income

All income is recognised once the charity 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 is represented by subscriptions, training/education courses, conferences, rental income, investment income, grants and amounts receivable for services provided excluding VAT.

For subscriptions, entitlement is taken at the date on which the subscription starts, and the income is recognised over the life of the subscription.

For training/education courses and conferences, entitlement is taken on the date on which the service is provided, and the income is recognised on the date the conference / course takes place.

The grants received during the year are performance related grants in nature. They have therefore been recognised in the Consolidated statement of financial activities in line with entitlement triggered by achievement of the performance conditions over the grant period.

2.4 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 settlement and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include any project management carried out.

Charitable activities and governance costs are those incurred on the charity's educational operations, including support costs and costs relating to the governance of the charity apportioned to charitable activities.

2.5 Government grants

Government grants relating to tangible fixed assets are treated as deferred income and released to the Consolidated statement of financial activities over the expected useful lives of the assets concerned. Other grants are credited to the Consolidated statement of financial activities as the related expenditure is incurred.

Page 29

CHARTERED INSTITUTE OF HOUSING (Incorporated under Royal Charter)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

2. Accounting policies (continued)

2.6 Legacies

The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of the entitlement exists when there is sufficient evidence that a gift has been left (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of the legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed can be reliably measured.

2.7 Intangible assets and amortisation

Intangible assets are stated at cost, less amortisation. Development costs were included within the initial cost capitalised based on the considerations made by trustees of the future economic benefit and enhancement of services received from the asset.

Amortisation is provided on intangible assets at rates calculated to write off the cost of each asset on a straight-line basis over its expected useful life.

Amortisation is provided on the following basis:

CRM and website - over the useful economic life of the original asset Other projects/software - 20% - 33.3% straight-line

Assets in the course of development are not amortised until the project has completed and the asset is in use.

2.8 Tangible fixed assets and depreciation

A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate 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 recognised in the statement of financial activities.

Tangible fixed assets are carried at cost or valuation net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives.

Depreciation is provided on the following bases:

Leasehold land - over the period of the lease Long leasehold buildings - over the period of the lease up to maximum of 50 years Short leasehold improvements - over the period of the lease Equipment, fixtures and vehicles - 20% of cost

The Institute's long leasehold property is valued on the basis of open market value for existing use by an external valuer at least once every five years and in the interim by the trustees on the same basis.

Page 30

CHARTERED INSTITUTE OF HOUSING (Incorporated under Royal Charter)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

2. Accounting policies (continued)

2.9 Investments

Quoted investments are stated at market value in the balance sheet.

Total unrealised and realised gains and losses arising on investment assets are disclosed within the statement of financial activities. The gain or loss is calculated with regard to the market value at the beginning of the year, or its cost if purchased during the year.

Investments in subsidiaries are stated at cost less impairment.

The joint ventures are stated at cost within the charity accounts less any accumulated impairment losses where necessary.

All other unlisted investments are measured initially at a cost and subsequently measured at fair value unless the fair value cannot be measured reliably, in which case they are measured at cost less impairment.

Investment properties for which a fair value can be measured reliably, are reviewed annually, with any changes recognised in the statement of financial activities.

2.10 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid.

2.11 Creditors

Creditors and provisions are recognised when there is an obligation at the balance sheet date as a result of a past event that will probably result in a transfer of funds to a third party, and the amount of the settlement can be estimated reliably.

The dilapidations provision relates to the Coventry office which is held under an operating lease and is an area of significant estimation / judgement. For more details see Note 21.

Provisions are made where an event has taken place that gives the Charity a legal and constructive obligation that probably requires settlement by transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the Consolidated statement of financial activities in the year that the Charity becomes aware of the obligation and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the balance sheet.

2.12 Financial instruments

The Group only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

2. Accounting policies (continued)

2.13 Pensions

Retirement benefits to employees are funded by contributions from both the charity and employees, administered through a stakeholder scheme and previously through a defined benefit scheme.

The charity operates a defined contribution pension scheme. Contributions are charged to the Consolidated statement of financial activities as they become payable in accordance with the rules of the scheme.

2.14 Operating leases

Rentals paid under operating leases are charged to the Consolidated statement of financial activities on a straight-line basis over the lease term.

2.15 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the Group and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors, or which have been raised by the Group for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

3. Critical accounting estimates and areas of judgement

Preparation of the financial statements requires management to make significant judgements and estimates. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Critical accounting estimates and assumptions:

Useful economic lives of intangible and tangible assets

The annual amortisation and depreciation charges for the intangible and tangible assets are sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See Notes 14 and 15 for the carrying amount of the intangible and tangible assets and Notes 2.7 and 2.8 for the useful lives for each class of asset.

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CHARTERED INSTITUTE OF HOUSING (Incorporated under Royal Charter)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

3. Critical accounting estimates and areas of judgement (continued)

Dilapidation provision

As part of the charity's property leasing arrangements, there is an obligation to maintain the state of the property as generally set in the dilapidations provision of a lease. As a result of alterations taking place at the property, a dilapidation provision had been recognised over the period of the lease with the costs being charged to the statement of financial activities.

4. Income from donations, grants and legacies

Legacy
Grants
Total 2024
Legacy
Grants
Total 2024		 Unrestricted
funds
2025
£
12,164
-
12,164
Unrestricted
Funds
2024
£
1,100,000
-
1,100,000		 Restricted
funds
2025
£
-
174,697
174,697
Restricted
Funds
2024
£
-
204,997
204,997		 Total
funds
2025
£
12,164
174,697
186,861
Total
Funds
2024
£
1,100,000
204,997
1,304,997

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CHARTERED INSTITUTE OF HOUSING

(Incorporated under Royal Charter)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

5. Income from charitable activities

Subscription and fees
Publications
Education
Professional practice
Training and conferences
Total 2025
Subscription and fees
Publications
Education
Corporate partnership
Professional practice
Training and conferences
Total 2024		 Unrestricted
funds
2025
£
3,266,729
26,813
1,028,645
262,575
4,558,773
9,143,535
Unrestricted
funds
2024
£
3,099,089
24,975
630,015
225,000
256,158
3,720,490
7,955,727		 Restricted
funds
2025
£
-
110,665
-
-
-
110,665
Restricted
funds
2024
£
-
91,500
-
-
-
-
91,500		 Total
funds
2025
£
3,266,729
137,478
1,028,645
262,575
4,558,773
9,254,200
Total
funds
2024
£
3,099,089
116,475
630,015
225,000
256,158
3,720,490
8,047,227

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CHARTERED INSTITUTE OF HOUSING

(Incorporated under Royal Charter)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

6. Investment income

Unrestricted Restricted Total
funds funds funds
2025 2025 2025
£ £ £
Rental income 169,786 - 169,786
Investment income 167,150 1,247 168,397
Total 2025 336,936 1,247 338,183
Unrestricted Restricted Total
funds funds funds
2024 2024 2024
£ £ £
Rental income 155,214 - 155,214
Investment income 112,563 1,167 113,730
Total 2024 267,777 1,167 268,944

7. Other incoming resources

Other incoming resources
Unrestricted Total
funds funds
2025 2025
£ £
Other income 257,523 257,523
Unrestricted Total
funds funds
2024 2024
£ £
Other income 150,704 150,704

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CHARTERED INSTITUTE OF HOUSING

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

8. Analysis of expenditure on charitable activities

Summary by fund type

Subscription and fees
Publications and guides
Education
Training and conferences
Regional costs
Support salaries and staff costs
Legal and audit fees
Other
Subscription and fees
Publications and guides
Education
Training and conferences
Regional costs
Support salaries and staff costs
Legal and audit fees
Other		 Unrestricted
funds
2025
£
1,329,523
2,935
498,587
3,238,988
1,028,220
1,855,808
270,782
816,366
9,041,209
Unrestricted
funds
2024
£
1,233,066
3,212
143,812
2,364,389
980,283
1,576,778
221,049
742,445
7,265,034		 Restricted
funds
2025
£
-
110,665
697
-
85,590
-
-
98,410
295,362
Restricted
funds
2024
£
-
91,500
-
-
69,197
-
-
125,800
286,497		 Total
funds
2025
£
1,329,523
113,600
499,284
3,238,988
1,113,810
1,855,808
270,782
914,776
9,336,571
Total
funds
2024
£
1,233,066
94,712
143,812
2,364,389
1,049,480
1,576,778
221,049
868,245
7,551,531

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CHARTERED INSTITUTE OF HOUSING

(Incorporated under Royal Charter)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

9. Analysis of expenditure by activities

Subscription and fees
Publications and guides
Education
Training and conferences
Regional costs
Support salaries & staff costs
Legal and audit fees
Other
Subscription and fees
Publications and guides
Education
Training and conferences
Regional costs
Support salaries & staff costs
Legal and audit fees
Other		 Activities
undertaken
Directly
2025
£
1,329,523
113,600
499,284
3,238,988
1,113,810
-
-
-
6,295,205
Activities
undertaken
Directly
2024
£
1,233,066
94,712
143,812
2,364,389
1,049,480
-
-
-
4,885.459		 Support
Costs
2025
£
-
-
-
-
-
1,855,808
270,782
914,776
3,041,366
Support
Costs
2024
£
-
-
-
-
-
1,576,778
221,049
868,245
2,666,072		 Total
Funds
2025
£
1,329,523
113,600
499,284
3,238,988
1,113,810
1,855,808
270,782
914,776
9,336,571
Total
Funds
2024
£
1,233,066
94,712
143,812
2,364,389
1,049,480
1,576,778
221,049
868,245
7,551,531

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CHARTERED INSTITUTE OF HOUSING

(Incorporated under Royal Charter)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

10. Auditors’ remuneration

Auditors’ remuneration
Fees payable to the charity’s auditor for the audit of the charity’s annual
accounts
Net (income)/expenditure
Net income is stated after charging:
Depreciation of tangible fixed assets
Amortisation of web, CRM and other projects
Foreign exchange loss
Operating lease rentals - land and building		 2025
£
21,200		 2024
£
20,500
2024

£

79,328

89,663

2,526

95,520

2025
£
69,221
131,257
16,430
114,258
331,166
342,271

11. Net (income)/expenditure

12. Staff costs

Wages and salaries
Social security costs
Other pension costs		 Group
2025
£
4,477,065
440,761
193,684
5,111,510		 Group
2024
£
3,861,300
378,763
169,857
4,409,920		 Charity
2025
£
4,324,135
440,761
188,177
4,953,073		 Charity
2024
£
3,709.231
378,763
163,715
4,251,709

The average number of persons employed by the charity during the year was as follows:

Direct charitable services and support
Management and administration of the charity		 Group
2025
No.
105
4
109		 Group
2024
No.
96
5
101

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

12. Staff costs (continued)

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

Group Group
2025 2024
No No
In the band £60,001 - £70,000 1 -
In the band £70,001 - £80,000 2 -
In the band £80,001 - £90,000 1 -
In the band £90,001 - £100,000 - 4
In the band £110,001 - £120,000 2 -
In the band £160,001 - £170,000 - 1
In the band £170,001 - £180,000 1 -

The remuneration (including employers national insurance contributions) of the executive team for the charity totalled £758,810 (2024: £ 644,198 ) .

During the period there were redundancy or termination payments made which amounted to £128,178 (2024: £ 1,477 ) .

13. Trustees' remuneration and expenses

During the year, no trustees received any remuneration or other benefits (2024: Nil).

During the year ended 31 March 2025, expenses totalling £1,148 ( 2024: £ 3,212) were reimbursed or paid directly to 5 trustees (2024: 6 trustees) . The expenses were incurred for travel and subsistence costs for trustees involved in business meetings and working groups.

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(Incorporated under Royal Charter)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

14. Intangible assets

Group and Charity

Cost
At 1 April 2024
Additions
Transfers
Disposals
At 31 March 2025
Amortisation
At 1 April 2024
Disposals
Charge for the year
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024		 Website,
CRM and
other projects
£
527,417
-
106,312
(49,323)
584,406
258,608
(49,323)
131,257
340,542
243,864
268,809		 Assets in the
course of
development
£
94,747
165,252
(106,312)
-
153,687
-
-
-
-
153,687
94,747		 Total
£
622,164
165,252
-
(49,323)
738,093
258,608
(49,323)
131,257
340,542
397,551
363,556

Page 40

CHARTERED INSTITUTE OF HOUSING

(Incorporated under Royal Charter)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

15. Tangible fixed assets

Group

Cost or valuation
At 1 April 2024
Additions
Transfers
Exchange rate losses
At 31 March 2025
Depreciation
At 1 April 2024
Charge for the year
Exchange rate losses
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024		 Freehold
Property
£
425,000
-
-
-
425,000
69,727
13,281
-
83,008
341,992
355,273		 Long-term
leasehold
Property
£
180,980
-
42,125
-
223,105
162,259
26,290
-
188,549
34,556
18,721		 Fixtures
and

Fittings

£

218,574

7,602

59,707

(117)

285,766

196,170

29,650

(16)

225,804

59,962
22,404		 Assets in the
course of
Development
£
74,387
28,438
(101,832)
-
993
-
-
-
-
993
74,387		 Total
£
898,941
36,040
-
(117)
934,864
428,156
69,221
(16)
497,361
437,503
470,785

Page 41

CHARTERED INSTITUTE OF HOUSING

(Incorporated under Royal Charter)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

15. Tangible fixed assets

Charity

Cost or valuation
At 1 April 2024
Additions
Transfers
At 31 March 2025
Depreciation
At 1 April 2024
Charge for the year
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024		 Freehold
Property
£
425,000
-
-
425,000
69,727
13,281
83,008
341,992
355,273		 Long-term
leasehold
property
£
180,980
-
42,125
223,105
162,259
26,290
188,549
34,556
18,721		 Fixtures
and

fittings

£

211,603

6,508

59,707

277,818

195,202

28,079

223,281

54,537
16,401		 Assets in the
course of
Development
£
74,387
28,438
(101,832)
993
-
-
-
993
74,387		 Total
£
891,970
34,946
-
926,916
427,188
67,650
494,838
432,078
464,782

16. Investment property Group and Charity

Valuation
At 1 April 2024
Gain on revaluation
At 31 March 2025		 Freehold
investment
property
£
2,345,000
-
2,345,000

Properties held at year end were valued by a RICS registered valuer, Peter Holt BSc (Est Man) FRICS in March 2024. A directors’ valuation has been undertaken in March 2025 to confirm the valuation.

Page 42

CHARTERED INSTITUTE OF HOUSING

(Incorporated under Royal Charter)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

17. Fixed asset investments

Group and Charity
Cost or valuation
At 1 April 2024
Additions
Disposals
Revaluations
At 31 March 2025
Impairment
At 1 April 2024
Charged during the
year
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024		 Subsidiaries
£
166,971
-
-
-
166,971
74,086
14,598
88,684
78,287
92.885		 Quoted
Investments
£
2,047,510
674,456
(660,108)
(30,140)
2,031,718
-
-
-
2,031,718
2,047,510		 Loan
investment
to
Housemark
£

125,051
-
-
-

125,051
-
-
-

125,051

125,051		 Cash on
deposit
£
41,404
718,981
(713,779)
-
46,606
-
-
-
46,606
41,404		 Total
£
2,380,936
1,393,437
(1,373,887)
(30,140)
2,370,346
74,086
14,598
88,684
2,281,662
2,306,850

Subsidiaries

CIH Asia International Limited

The institute owns 100% of the issued share capital of CIH Asia International Limited. CIH Asia International Limited was incorporated on 9 November 2017.

CIH Canada

The institute owns 100% of the issued share capital of CIH Canada. This has been excluded from consolidation on the grounds of materiality.

Joint Ventures

Housemark

The Institute holds all of the issued A share capital of Housemark Limited, which provides a knowledge management and benchmarking service. The National Housing Federation holds all of the issued B share capital of the company. The company is treated as a joint venture.

The joint ventures are stated at cost less any accumulated impairment losses where necessary.

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CHARTERED INSTITUTE OF HOUSING

(Incorporated under Royal Charter)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

18. Debtors

Trade debtors
Amounts owed by group undertakings
Amounts owed by participating interests
Other debtors
Prepayments and accrued income		 Group
2025
£
1,055,012
-
66,864
20,779
424,733
1,567,388		 Group
2024
£
1,007,484
-
65,233
16,592
1,416,599
2,505,908		 Charity
2025
£
1,034,446
146,202
66,864
15,133
422,906
1,685,551		 Charity
2024
£
985,996
142,302
65,233
13,885
1,399,648
2,607,064

Accrued income in the prior year included a legacy from the late Mr. Anthony Babbage which CIH was entitled to of £1.1m. The legacy was received in October 2024.

19. Creditors: Amounts falling due within one year

Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income
Deferred income B/fwd
Resources deferred during the year
Amounts released from previous periods		 Group
2025
£
187,073
263,095
46,471
4,130,024
4,626,663
Group
2025
£
2,743,454
3,786,724
(2,743,454)
3,786,724		 Group
2024
£
331,603
264,124
71,836
2,940,971
3,608,534		 Charity
2025
£
187,072
263,095
46,799
3,887,882
4,384,848
Charity
2025
£
2,515,383
3,550,082
(2,515,383)
3,550,082		 Charity
2024
£
331,603
245,375
71,988
2,708,061
3,357,027
Group
2024
£
2,414,629
2,743,454
(2,414,629)
2,743,454		 Charity
2024
£
2,205,655
2,515,383
(2,205,655)
2,515,383

The value of deferred income included above relates to income for future periods beginning on or after 1 April 2025. The deferred income relates to membership fees, qualifications income and income from corporate partnerships for the year from 1 April 2025 to 31 March 2026.

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CHARTERED INSTITUTE OF HOUSING

(Incorporated under Royal Charter)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

20. Financial instruments

Financial assets
Financial assets measured at fair value
through income and expenditure		 Group
2025
£
2,031,718		 Group
2024
£
2,047,510		 Charity
2025
£
Charity
2024
£
2,031,718
2,047,510

Financial assets measured at fair value through income and expenditure comprise listed investments.

21. Provisions

Group and Charity

At 1 April 2024
Additions
At 31 March 2025		 Dilapidation
provision
£
7,500
6,000
13,500

As part of the charity’s property leasing arrangements, there is an obligation to repair damages which occur during the life of the lease, such as wear and tear. The cost is charged to Consolidated statement of financial activities as the obligation arises. The provision has been created to cover any obligations that could potentially arise on the Coventry office which is leased.

Due to the difficulties in predicting expenditure that will be required on return of a property to the landlord many years into the future, the dilapidations provision is considered a source of significant estimation uncertainty. The provision has been calculated using historical experience of actual expenditure incurred on dilapidations and estimated lease termination dates.

Page 45

CHARTERED INSTITUTE OF HOUSING

(Incorporated under Royal Charter)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

22. Statement of funds

Statement of funds - current year

Balance
at
1 April
2024
£
Unrestricted funds
General Fund
5,592,649
Revaluation reserve
2,295,840
Unrestricted funds
before exchange
differences
7,888,489
Exchange rate reserve
(2,242)
7,886,247
Designated funds
Anthony Babbage
learning and
development fund
-
Strategic investment fund
-
-
Restricted funds
David Butler bursary
51,166
Regional fund
1,152
Tri country bursary fund
5,175
Publication Sponsorship
-
Stop social housing
stigma fund
10,000
Welsh Government
fund
-
Welsh Housing Quarterly
-
67,493
Total of funds
7,953,740		 Balance
at
1 April
2024
£
5,592,649
2,295,840		 Income
£
9,821,877
-		 Expenditure
£
(9,041,209)
-		 Transfers

£
(660,000)

-		 Gains/
(Losses)

£

(30,140)

-		 Balance
at

31 March

2025

£
5,683,177

2,295,840
7,888,489
(2,242)		 9,821,877
-		 (9,041,209)
-
(660,000)

-
(30,140)

(2,900)		 7,979,017

(5,142)
7,886,247 9,821,877 **(9,041,209) **
(660,000)		 (33,040)
7,973,875
-
-
-

-		 330,000
330,000		 -
-		 330,000

330,000
-
-
-
660,000
-
660,000
929
57
261
110,665
-
150,697
24,000		 -
-
-
(110,665)
(10,000)
(150,697)
**(24,000) **		 -
-
-
-
-
-
-		 -
-
-
-
-
-
-		 52,095
1,209
5,436
-
-
-
-
67,493 286,609 (295,362) - - 58,740
7,953,740 10,108,486 (9,336,571)
-		 (33,040) 8,692,615

During the year, a legacy of £1,112,164 was received from the estate of Mr Anthony Babbage. This legacy of £1.1m was recognised in accrued income in the prior year. The legacy placed no restrictions on how the gift could be used. The trustees have resolved to create two designated funds. One designated fund for £330,000 is called the Anthony Babbage learning and development fund which has been created to aid learning and development within the sector. The Strategic investment fund for £330,000 has been created to allow trustees to invest in opportunities to develop CIH as they arise.

Page 46

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(Incorporated under Royal Charter)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

22. Statement of funds (continued)

The David Butler Bursary fund is CIH's educational grant scheme to provide financial support for people wishing to pursue a career in housing.

The Welsh Government fund relates to the Welsh Innovative Housing Programme to increase the supply of affordable housing, funding to explore the viability of establishing a Social Housing Development Academy in Wales and the delivery of expert advice in relation to bringing empty LA properties back into use.

The Welsh Housing Quarterly grant part funds the publication of Welsh Housing Quarterly.

The Publication Sponsorship fund is for the publication of the UK housing review.

Statement of funds - prior year

Unrestricted funds
General Fund
Revaluation reserve
Unrestricted funds before
exchange differences
Exchange rate reserve
Restricted funds
David Butler bursary
Regional fund
Tri country bursary fund
Publication Sponsorship
Stop social housing stigma
fund
Welsh Government fund
Welsh Housing Quarterly
Total of funds		 Balance at
1 April
2023
£
3,188,956
2,285,840
5,474,796
-
5,474,796
50,191
1,117
5,018
-

-
-
-
56,326
5,531,122		 Income
£
9,565,186
-
9,565,186
-
9,565,186
975
35
157
91,500
10.000
170,697
24,300
297,664
9,862,850		 Expenditure

£
(7,265,034)
-
(7,265,034)
-
(7,265,034)

-
-
-
(91,500)
-
(170,697)
(24,300)
(286,497)

(7,551,531)		 Gains/
(Losses)
£
103,541
10,000
113,541
(2,242)
111,299

-
-
-
-
-
-
-

-
111,299		 Balance at
31 March
2024
£
5,592,649
2,295,840
7,888,489
(2,242)
7,886,247
51,166
1,152
5,175
-
10,000
-
-
67,493
7,953,740

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CHARTERED INSTITUTE OF HOUSING

(Incorporated under Royal Charter)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

23. Analysis of net assets between funds

Analysis of net assets between funds - current year

Tangible fixed assets
Intangible fixed assets
Fixed asset investments
Investment property
Share of net assets in joint venture
Current assets
Creditors due within one year
Provisions for liabilities and charges
Total		 Unrestricted
funds
2025
£
437,503
397,551
2,281,662
2,345,000
737,766
7,074,556
(4,626,663)
(13,500)
8,633,875		 Restricted
funds
2025
£
-
-
-
-
-
58,740
-
-
58,740		 Total
funds
2025
£
437,503
397,551
2,281,662
2,345,000
737,766
7,133,296
(4,626,663)
(13,500)
8,692,615

Analysis of net assets between funds - prior year

Tangible fixed assets
Intangible fixed assets
Fixed asset investments
Investment property
Share of net assets in joint venture
Current assets
Creditors due within one year
Provisions for liabilities and charges
Total		 Unrestricted
funds
2024
£
470,785
363,556
2,306,850
2,345,000
666,047
5,350,043
(3,608,534)
(7,500)
7,886,247		 Restricted
funds
2024
£
-
-
-
-
-
67,493
-
-
67,493		 Total
funds
2024
£
470,785
363,556
2,306,850
2,345,000
666,047
5,417,536
(3,608,534)
(7,500)
7,953,740

Page 48

CHARTERED INSTITUTE OF HOUSING

(Incorporated under Royal Charter)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

24. Reconciliation of net movement in funds to net cash flow from operating activities

Net income for the year (as per statement of financial activities) before
other recognised gains:
Adjustments for:
Depreciation charges
Amortisation charges
Profit on disposal of fixed assets
Exchange rate differences
(Increase) in share of income from joint venture
Losses / (Gains) on investments
Dividends, interest and rents from investments
Decrease / (Increase) in debtors
Increase in creditors
Increase in provisions
Impairment of investments
Net cash provided by operating activities		 Group
Group
2025
2024
£
£
741,775
2,414,860
69,221
79,328
131,257
89,663
-
(164)
(14,963)
(2,197)
(71,719)
(90,978)
30,140
(103,541)
(338,183)
(268,944)
938,520
(1,023,012)
1,018,129
218,764
6,000
6,000
14,598
38,832
2,524,775
1,358,611

25. Analysis of cash and cash equivalents

Cash in hand
Total cash and cash equivalents		 Group
Group
2025
2024
£
£
5,565,908
2,911,628
5,565,908
2,911,628

26. Analysis of changes in net debt

Cash at bank and in hand At 1 April
2024
£
2,911,628
2,911,628		 Cash flows
£

2,654,280
2,654,280		 At 31 March
2025
£
5,565,908

5,565,908

Page 49

CHARTERED INSTITUTE OF HOUSING

(Incorporated under Royal Charter)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

27. Related party transactions

The following transactions took place with another business in which one of the Trustees are a member of the board, CEO or similar.

Balance
Outstanding
as at 31
2025 Sales Purchases March 2025
£ £ £
Centre for Partnership LLP 659 - -
CIH Canada 24,377 - 5,795
Circle Voluntary Housing Association 23,549 - 8,326
Clanmil Housing Group 20,846 - -
Cratus Communications 78 - -
East Midlands Housing Group 30,200 - 270
Ekaya Housing 262 - -
Elim Housing Association Limited 4,844 - 406
Grand Union Housing 35,979 - 3,817
Irish Council for Social Housing 17,356 - 17,356
Magna Housing 16,287 - -
MHS Group 13,792 - 4,051
MOR Homes Plc 2,380 - -
Peabody New Homes 13,042 - 245
Peabody Trust Group 1,352 - -
Sovereign Housing Association 35,006 - -
Sovereign Network Group 1,876 - 12
Stonewater Limited 7,605 - -
Together Housing 15,550 - -
Wolverhampton Homes 2,833 - -

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CHARTERED INSTITUTE OF HOUSING

(Incorporated under Royal Charter)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

27. Related party transactions (continued)

Related party transactions (continued)
Balance
Outstanding
as at 31
2024 Sales Purchases March 2024
£ £ £
Bailes Partners Consulting 151 - 78
Berwickshire Housing Association 3,735 - -
Centre for Partnership LLP 15,000 - 13,888
CIH Canada 22,085 - 10,939
Circle Voluntary Housing Association 19,791 - 10,625
Clanmil Housing Group 21,134 - 1,640
East Midlands Housing Group 32,412 - 12,218
Eldon Housing Association 819 - 273
Golding Homes 16,247 - 1,383
Grand Union Housing 28,711 - 904
Housing 21 5,750 - 1,180
Hundred Houses Society 788 - -
Irish Council for Social Housing 49,287 - -
Magna Housing 18,807 - -
MHS Group 10,772 - -
Paradigm Housing Group 5,860 - -
Peabody Housing Association 8,759 - 245
Peabody Trust Group 6,678 - 3,274
Saffron Housing Trust 3,675 - -
Sovereign Housing Association 33,616 - 262
Sovereign Network Group 10,103 - 3,308

Joint Venture - Housemark Limited

The Institute owns all the £1 A shares in Housemark Limited, a company which helps housing organisations to achieve continuous improvement in service delivery and to achieve value for money.

The transactions with this joint venture are listed below:

2025 2024
£ £
License fees and other institute service sales 288,259 256,158
Balance due from the company at 31 March - -

Page 51

CHARTERED INSTITUTE OF HOUSING

(Incorporated under Royal Charter)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

27. Related party transactions (continued)

Joint arrangement - Ocean Media Group

The Institute had an arrangement with Ocean Media Group to collaborate a new vision for closer working on media initiatives and other activities that will better deliver and develop products and services for the housing sector which ceased on 20 September 2023.

The transactions with the joint arrangement are listed below:

2025 2024
£ £
Sales - 311,000
Purchases - 10,192
Balance due from the company at 31 March - -
There are no other related party transactions.

28. Pension commitments

The Group operated a defined benefit pension scheme until 31 December 2022 when our agreement was terminated. Until then, CIH was an admitted body to the London Pensions Fund Authority (LPFA). The LPFA Board oversees the management of the Fund whilst the day-to-day fund administration is undertaken by the Local Pensions Partnership. Where appropriate some functions are delegated to the Fund's professional advisers.

Contributions were set every three years as a result of the actuarial valuation of the Fund required by the Regulations. The latest actuarial valuation of the Fund was carried out as at 31 December 2022 and identified that further contributions would not be necessary. There are no minimum funding requirements in the LGPS, but the contributions are generally set to target a funding level of 100% using the actuarial valuation assumptions.

Following the valuation, LPFA offered the opportunity for CIH to exit the deficit management agreement. This was accepted by the trustees and the full withdrawal from the scheme and any future obligations was effective 31 December 2022.

The cost of employer contributions for past service costs into this fund was £2,807 (2024: £ 2,472 ).

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CHARTERED INSTITUTE OF HOUSING

(Incorporated under Royal Charter)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

29. Capital and other commitments

At 31 March 2025 the Group and the charity had the following capital commitments:

4

Intangible capital expenditure not provided in the financial statements:
Website development		 2025
2024
£
£
-
55,290

The Group and the charity had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:

Not later than 1 year
Later than 1 year and not later than 5 years
Later than 5 years		 2025
£
10,740
339,496
-
350,236		 2024
£
8,780
39,792
371,983
420,555

Page 53

CHARTERED INSTITUTE OF HOUSING

(Incorporated under Royal Charter)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

30. Principal subsidiaries and joint venture

The following were subsidiary undertakings of the charity:

Names Company Registered office or principal Principal activity Class of
Holding		 Included in
number place of business shares consolidation
CIH Asia International Limited 2605335 16 Wang Hoi Road, Kowloon Bay,
Kowloon, Hong Kong		 Housing services &
advice
Ordinary		 100% Yes
CIH Canada 1891387 75 Albert St, Suite 902, Ottawa, Housing services &
Ordinary		 100% No
Ontario, Canada, K1P 5E7 advice
The financial results of the subsidiaries for the year were:
Income Expenditure Profit for the year
Net assets
£ £ £
£
CIH Asia International Limited 453,836 (428,107) 25,729
176,553

The financial results of the subsidiaries for the year were:

CIH Asia International Limited

CIH has a 50% joint ownership in Housemark Ltd, a company registered in England and Wales, by virtue of ownership of all ‘A’ shares.

The nature of the business is provision of services to housing organisations to help them deliver continuous improvement and provide value for money in service delivery.

Its registered office is 4 Riley Court, Millburn Hill Road, University of Warwick Science Park, Coventry CV4 7HP.

The investment in the company is shown at cost less impairment.

The group constitutes 50% of the ownership. The group’s share of net assets is £737,766 (2024: £666,047 ).

Page 54