REGISTERED CHARITY NUMBER: 247236
Report of the Twstee5 and
Audtted Flnancial Statements
for the Yèar Ended 31 December 2022
for
HORNCHURCH HOUSING TRUST
Haines Watts Essex LLP
Junip8r House
Warley Hill Business Park
Th8 Drive
Brenlwood
Essex
CM13 3BE

HORNCHURCH HOUSING TRusr
Contents of the Finan¢ial Statements
for the year ended 31 December 2022
Page
Report of the Trust•è$
Report of the Independent Audltors
ststement of Flnan¢lal Actlvltles
Balance Sheet
Notes to the Financial Statements
10 to 18
Detalled Statement of Finan¢ial Activities
17 to 18

HORNCHURCH HOUSING TRUST
Report of the Tru$le*$
for the year ended 31 December 2022
The trustees present their report with the financial statements of the charity for the year ended 31 December 2022. The
ttustees have adopt8d the provisions of Accounting and Reporting by Charities.. Statement ol Recotnrnended Pracli(
applicable to charities preparing thar accounts in accordance with the Financial Reporting Standard applicable in the
UK and Republic ol Irdand IFRS 1021 leffective 1 January 20191.
Obleetlv•s anil aetivities
The overall objective of the Charity is to provide accommodation for poor p8rsons of good character and havo re5id8d
In the 8orough of Hsvering for at least two years.
Horn¢hurch Housing Trust offer5 39 modern 5elf-contained dwellings on three sites in the borgugh of Havering.
Skeales Court, Sunrise Avenue, Hornchurch
8uilt in 1975 with 30 one bedroom flats over two floors stair lifts to the first floor. Amenities for residents include a
recre8tion room. kitchen and purpose built laundry room. with a seclude(I garden. The office3 of the clerk and of the
warden are on-51te. A frequent bus Servi￿ passes the complex
The Trust. H3Cton Lane, Horn¢hur¢h
This site compii5es five one bedroom bungalows. The residents have the benefit of sharing the amenititrs of the
adjoining council owned Wm Tansley Smith House, which is a Shelter￿ complex and h85 a large sunny garden. 8
recreation room and Isundry. The 193 bus Servi￿ to Hornchurth. Romford and The Queen'5 Hospital passes the
complex.
Wolseley Road. Romlord
He￿ there are four maisonettes in a sing18 block and the two at rirst floor level are aecessed steep stalrs. which
Makes them suitable only foi more active and independent pwsons. Frequent bus services are available nearby.
As vacancies occur the units are refurbished as n8ce5sary.
Public Beneflt
The Trustee5 h8ve paid due regard to the Charity Commission Guid8nTr on Public Benefit in deciding what activitias
the charity un¢Jertakes. All actsvities undertaken by Horn¢hurch Housing Trust arè focussa on our charitable
purposes.
Achievement and performance
The charity maintains all of it5 properties and their grounds in good ordsr, making them 8 pleasant place for our
residènts.
Finartrclal r¢vi8W
Investment policy and obleetives
The results for the ye8r are set out In the attached accounts. The total funds at 31 Decernber 2022 were £9.827,954
comp8recJ with £9,817.647 at 31 De¢grber 2021 Total expenditure during the year was £192, 146 compared with total
expenditure of £255,263 during the y&ar ended 31 DeCe￿ber 2021.
Invèstment Policy
The charity utilises Ruffer LLP, M & G Investments and Brewin Dolphifi Limited to manage its Investment portfolio
which inelude5 both fixed interest unit5 8nd equitiès. The InvestTnent managers are all regulated by The Financial
Conduct Authority and are required to ensure that such investments provide an adequ8t8 yield, whilst respecting the
ethiral principles deemed appropriate by the charity.
ReSe￿￿S Policy
The trustees have decided that the arnount ol 'freo' reserves li8 unrestricted reserves not de5ignat6d as tangible
asset51 held by the charity should be maintained at a level 4u81 to the approximate running costs of the charity for
six month peiiod. This is assumed to bè £100,000. However the charity is ¢urrently pooling resources with the view to
expanding the number of propertie5 it owns.
Page 1

HORNCHURCH HOUSING TRUST
Report of the Truste•s
for the year ended 31 December 2022
Future plans
In the short term the Charity's priority is to continue providing accommodation and other facilities to a high standard.
This implies the continued maintenance and iTnprov8ment of our properties and the facilities we offer to our ￿sIdentS.
Further to this the charity would like to expand the number of propertiss it owns in order to further its work and increase
the provision of accornmodation currently off8r8d.
Political UnTrrtaint
It still remains to be seen what the impact, if any. Br8Xit will have on the construction market and the trust specifically.
In the event ol any economic downturn the trust is well placed to operate a5 normal due to efficient financial controls. a
strong balan￿ sh88t and healthy cash ￿serVeS.
Covid-19
The trust was, like all organisations. affecied by the Covid-19 outbrè8k. Decisive rneasures were swifuy undertaken.
Induding closur8 of sltes to protect our team, resident5 8nd other stakeholders. We closely monitored the crisis, and
having formed contingency plall5 early and left significant cash in the organisation following a good year, the trust was
w811 plac& to see out the crisis and to progress Strongly as the economy continues lo recover.
The trust is looking at Possible new business m(Klels to ensure cornpliancy and managern6nt of risk. which il
progressed, will result in review of the struetura.
Future D6vèIo
ent
Although the comrnerpial new-build, r61urbishm8nt and fit-out markst rèmains competitive an¢Y uncertain following the
Covid-19 outbreak. by aCtI￿rY managing risk across all areas of the trust , It is well placed to meet the day to day
running needs.
The board is looking al potential investrnenvpropety purchas8 Options to extond its current porttolio, as well as
possibl8 Investment In Ils existing Stock One property has been purchased Sin￿ the year end. Trustees will take the
appropriate expert advice before making any investments I strategic decis￿On$.
structure, 9overnance and management
Governlng document
Thè charity is contr&1￿1 by its governing d￿uMent. a deed of trust and constitutes an Unincorporat￿ chsrity.
Hornchurch Housing Trust is an amalgam81ion ol many ancient charitie3, the earliest being Appleton's Almshouses
founded in 1586. The cur￿nt version of the governing document was Intr(￿Uc￿d on 15 February 1991 and 8rn￿ded by
spe¢ial re501ution on 18 May 1995. The trust is a registered Charity with the Charity Commission.
Appolntmgnt of tru$te8S
The trust deed makes provision lor th6 appointment of seven trustees, one ol whom by virtue ol his offirx will be the
incurnbenl vicar of Sl Andrews Parish Chuich, Hornchurch.
Organlsation
The board of trustees administers the charity and meets iegularty to d15CUSS the running of the charity. A clerk has
been appoint￿ by the trustees to manage its day to day operations under the supervision of the chairman and deputy
chaimian.
Related Partl•s and Connècted Organisations
The charity has no link with "Rdated Parties" as definas by the Statement of Recommended Practice and has not
cornbin* wth ally other orgsnisalion In the pursuit of Ils charitable objectives.
Referènce and administratlve detail$
Registerod Charlty numbor
247236
Principal add￿$5
33 Skeales Court
Sunrise Avenue
Hornchurch
Essex
RM124YA
Page 2

HORNCHURCH HOUSING TRUST
Report of th8 Truslee$
for the year ended 31 December 2022
Trustees
Cllr C Smith
Mr J Mylod
Mr L N D<￿in
Mr M Wallace
Mr P J Salisbury
Rèv K A Wylie
Mr J R Evans
Audltors
Haines Vvatts Essex LLP
Junip8r House
Warley Hill Business Park
Th8 Drive
Brentwood
Essex
CM13 3BE
Investment Managers
Brewin C>olphin Ltd
12 Smithfield Street
London
EC1A 9BD
Ruffer LLP
80 Vidoria Street
London
SW1E 5JL
M& G Invesknent
PO Box 9038
Chelmsford
CM99 2XF
Statement of tru5tee8' responsibilitles
The trustee5 are responsible lor preparing the Raport of the Trustees and the financial statements in accordance with
applicable law and United knngd(Kn Accounting Standards Iuniteil Kingdom Generally A¢￿pted Accounting Pfacticel
Th8 law appli¢sble to ch8rities in England and Wales, the Charitses Act 2011, Charity IAc¢ount5 and Reports)
Regulations 2008 and the provisions ol the trust deed requires thè trustees to prepa￿ financial statements for each
finsncial year which give a true £rEd fair view of the state of affairs of the charity ancj of the incoming r8SoUr￿$ and
applI￿110n of resources. including the Income and 8xpenditur8, of the charity lor th8t period. In preparing those
financi81 statements, the trustees arè required to
select suitable accounting poliaes and then spply them consistently,.
observe the tnethods and principles In the Charity SORP",
makeiudgements and estimat85 that are ieasonable and prudent.,
prepare the financial statements on the going con￿rn basi5 unless it is inappropriate to presume that the charity
will continue In business.
The trustee5 are responsible lor keeping proper accounting records whi¢h disclose with reasonable 8ccura¢y at any
time the financial position of the charity alld to enable th￿n to ènsuie that the financisl stslements comply with the
Charities Act 2011. the Charity (Accounts and Reports) Regulation5 2008 and the PfOVlSlOnS ol the trust deeil. They
ar8 also responsible for safeguarding the assets of the charity and hence for taking reasonable Steps lor the prevention
8nd det*tion of fraud and other itr8gularities.
Page 3

HORNCHURCH HOLISING TRUST
Report of the Trusiees
for the year endeil 31 December 2022
ststemont of trustee5' responsibilities continuod
Under the Charities Act 1993, the Trustees a￿ required to".
il Keep proper accountlng records which disclose with reasonable accuracy at the Iitn8 the financial position of the
eharity".
ill To prepare financial statements for each financial year which give 8 true and lair view ol the State of the charity's
affairs and of the surplus or deficit for the year. and Comply with the ￿gUlationS made by the secretary of state.
In preparing those financial 5tatemenis the trustees are required to".
select suitable accountirvj policies and then apply thèm ¢onsistently',
makèiudgem8nt5 and estimates that are raasonable and prudent.,
state whethÈr applicable accounting standards have been followed, subject to sny material de￿rtu￿ di5dosed 8nd
explained In the financi81 statements and whether the fin8nci81 statements have been prepared in accordance with the
statement of recommended practlC8. 'Accounting and Reporting by Ch8rities' issu* by the Chaiity Commission.
prepar8 the fin8n¢ial statements on the going concern basis unles3 It is inappropriate to presume that the charity will
continue in operation.
The Trustee5 ar8 also responsible for 5af8guarding the assets of the charity and hencè foi taking reasonable steps for
the pr8vention and detaction of fraud and other Irr
ularities
Approved by order of th8 board ol trustees on .
and signed on its behalf by..
Mr M WallaTr- Tr
tee
Page 4

Report of the Independent Auditors to the Trustees of
Hornchurch Houslng Trust
Opinion
We have audited the financial statements of Hornchurch Housing Trust (the 'charity'l for the year ended
31 De￿mber 2022 which comprise the Statement of Financi81 Activities, the BalaTh￿ Sheet and notes to the financial
st8tements. including 8 summary of significant accounting policies. The financial reporting framework thst has bèèn
appli￿ in their preparation is applicable law alld Unitgd Kingdom Accounting Standard5 (United Kingdom Generally
Accepted Accountirg Practi￿1.
In our opinion the financial statetnent5-.
give a tru6 and f8ir view of the state of the charity's affairs as at 31 Decernber 2022 and of its ineoming resources
and application of resouices, for the year then ended..
hav8 been properly prepara In accordan￿ with United Kingdom Generally Accepted Accounting Practice., and
have been prepared in accordance with the requirements of thè Chaiitl8s Act 2011.
Basls for oplnlon
We conducted our audit In accordance with Internstional Standards on Auditing IUKI IISA5 IUKII and applicable law.
Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit of the
financi81 stslements section of our report We are independanl of the charity in accordance with the ethical
quirements that ar8 relevant lo our audrt of the fin8nci81 s18lements in the UK, Including the FRC'S Ethical Standard.
and we have fulfilled our other ethical responsibilities In accordance with these requir8tn8nts. We believe that the audit
8vid8nc8 we have obtained is sufficient 8nd appropriate to promde a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, W6 have concluded that the trustges. use ol the gtsng concern basis ol accounting
in the preparation of the fin¥naal statements is appropriate.
8ased on the work w8 have performed, w8 have not identifi£d sny material uncert8inlies relating to events or
conditlOn5 that, individually or collg¢tively, may cast significant doubt on the charity's ability lo continue a5 a going
concern for a period of at least twelve months frorn when the financial statements are authorised for Issue.
Our responsibilities arKI the responsibilities of the trustees with respect to going concern are described in the relevant
sections of this report.
Other Information
The trustee5 are respon5ibla for the othèr information. Th8 other information comprise5 the information included in the
Annual Report. other than the financial statements and our Report of the Independent Auditors thereon.
Our opinion on th8 financial st8tements doe5 not ¢over the other Information an(J. ex￿pt to the extent otherwise
explicitly stated in our report, we ¢0 not èxpress any form of 8ssur8nce conclusion thweon.
In connection with our audit of the financial statements. our responsibility is to read the oth8r information and, In doing
so. consider whether the other information Is materially inconsistent with the financial statements or our knowledge
obtained In the 8udit or otherwise appears to b8 matenally miss18led. If we idenbfy such mat8rial inconsistencies or
8pp8rent material misstatements, we a￿ required lo dètermine whether this gives rise to a material rnisstatemènt in
the financial statements thern581ves. If. based on the work we have performad, we condude that there is a material
mi5Statement of this other information. we are ￿quired to report that fact. We have nothing to report in thi5 regard.
Matters on which we are requlred to report by exceptlon
We have nothing io report in respect of the following matters whare the Chariti88 (Account5 and Reports) Regulations
2008 require5 US to report to you If, in our opinion.
the information given In the Report of the Trustee5 is inconsistent in any material respect with the financial
st81ements". or
sufficient acwunbng r8cords have not been kept.. or
the financial Statements are not in agreement with the accounting records 8nd return5,' or
we have not received all the Infotrnation and explanation5 we require for our audit.
Responsibilltles of trustees
As explained more fully in the St8lem6nt of Trustees, Responsibilities. the trustees are r8sponsib18 for the pr8P8ration
of the fin8n¢i81 statements which give a true and fair view, and for such Internal control a5 the irustee5 det8rmine is
ne￿sSary to enable the preparation of financial statements that are free from material misstalernent, whether due to
traud or error.
In preparing the financial statements, the trustees are Esponsible for assessing the charity's ability to continue as
going con￿rn, disclosing, as applicable, mstters ￿lated to going concern and using the going concern b85is of
accounting unless the trust￿ either illt￿d to liquidate the charity or to ￿9$e operations, or have no realisti
altemative but to do so.
Pag6 5

Report of the Independent Auditor5 to the TTUStees of
Hornchurch Housing Trust
Our responsibilities for the audtt of the financlal statement5
We have been appointed as auflitors und81 Section 144 of the Charities Act 2011 and report in a¢L￿d8n￿ with the Act
and relevant r￿ulationS m8de or having effect thereunder.
Our objectives are to obtain reasonable as5uianc8 about whether the financial statamenls 8$ a whole are free from
material misstatement, whether due lo fiaud or error. and to issue a Report of the Independent Auditors that Includtrs
our opinion. Reasonable assurance is a high level of assurance, but Is not 8 gu8rantee that an audit conducted in
accordance with ISAS IUKI wll alw8ys detect a materi81 misst8temenl when it exists. Misstat8ments can arise from
fraud or effor and a￿ considered rnaterial if. individually or in the aggregate. they could reasonably be expected to
influence the economi¢ decisions ol users tsk￿ on th8 basi5 of these financial st3t8rnents.
The extent to which our procedures are capable ol ijetecting irregularities. including fraud 15 d8tai18d below..
Because of the inherent limitations of an audil. there is a risk that W8 will nol detect all irregulariti85. incjuding those
lèading to a material misstatement In the financial statements or non-compliance with regulation. Th15 risk incre8ses
the more that compliance with 8 law or regulation is removed from the events and transactions reflected in the financial
statements. as we will be less likely to b8come aware ol instan￿5 of non-complian¢e. The r15k is also greater
regarding irregularities occurring due to fraud rather than error, s5 fraud involves intentional COn￿alment, forgery,
collusion, omission or misrepresenlat10n.
We obtained an understanding of the leg81 and regulatory frameworks that are applicable to the charity and the sector
in which it operat85. We determined that the rnost significant are those that relate to the reportlng framework. the
Charitie5 SORP IFRS 1021 and the Charities Act 2011.
Wè Understo(￿ how the chsrity is complying Mth th058 legal and regulatory frameworks by making enquires of the
management and those respoll5ible for governance. We Corroborat￿ our enquiries through our review of Board
minutes.
We assessed the susceptibility of the charity's financial 5t8ternents to materi81 rnisstatemant. includiry how fraud
might occur. The primary ￿spOnSibl11tY for the prevèntion and cleteetion of irregularities including fraud r8sls with both
th058 charged with governance of the entity and managernent.
Our audit pro￿dureS in relation to fraud included but were not limitÉd to..
identifying and gaining an understanding of the internal controls management has in place to prevent and dèt8Ct
fraud-.
understanding how those charged with govemance considered and addressed the potential for override of controls or
other inappropriate influents over the financial reporting proc8SS',
di5¢ussing the risks of fraud amongst thè engagernent te8m',
assessing the significant estimat8s an(J judgements in the financial statements for possible rnanipulalion or
fflan8gement bis5',
identifying 8nd testing journal entries. in particular any jouma15 indicating large or unusual trans8Ctions b3s8d on our
understanding of the charity",
assessing the extent ol compliance wilh thè relevant laws and regul8b'ons.
A further description ol our responsibilities for the audit of the financial statefflents is located on the Financial Reporting
Council's wetisite at ww.frc.org uklauditorsresponsibilitie5. This de$￿IptIOn forms part of our Report ol the
Independent Auditors.
Page 6

Report of the Independent Auditors to the Trustees of
Hornchurch Houslng Trust
Use of our report
This report 15 mad8 solely to the charitys trustees, as a body, in accordan￿ with Part 4 of the Charities IAccounts and
Reports) Regulations 2008. Our audit work ha5 been undertaken so that we might state to the charity's trust*s those
matters we are required to state to them In an auditor5. report and for no other purpose. To the lulle5t extent permitted
by law, we do not accept or 8ssume responsibility to anyone other than the charity and the Charity's trustees as a body,
for our audit work. for this report, or for th8 opiniong we have formed.
Haines Watts Essex LLP
Haines Watts Essex LLP
Juniper House
Warley Hill Business Park
The Drive
Brentwoo
Essex
CM13 38E
Date..
Page 7

HORNCHURCH HOUSING TRUST
Statement of Flnancial Actlvltles
for the year enilod 31 December 2022
2022
Unrestricted
funds
2021
Total
funds
Note5
Incomg and enilowments from
Donations and I￿a¢[eS
250
Charltsble activities
Core Activities
310.703
270, 155
Inv8Stment incoma
94,499
64,882
Total
405,452
335.037
Expendlture on
Charitsble a¢tlvitl8S
Core Activitie5
192,173
255.263
Net g8inslllos5esl on investments
1202.9431
342.370
NET INCOME
10,336
422,144
Reconclllatlon of funds
Total funds brought forward
9,817,647
9,395,503
Total funds carried forward
9.827,983
9.817,647
The notes form part of these financial Statements
Page 8

HORNCHURCH HOUSING TRUST
Balance Sheet
31 December 2022
2022
Unre$tricted
funds
2021
Total
funds
Notes
FIx8d assets
Tangible assets
Investtnents
Investments
Investrn￿t property
5.471,552
5.436,824
3,575,070
645,000
3,700.293
645.000
9,691.622
9.782,117
Current 85sets
Debtors
Cash at bank and In hand
10
3.687
144,990
2,140
53,458
148,677
55,598
Credltors
Amounts falling due within one year
112,3161
120.0681
Net currènt a$sets
136,361
35,530
Total assets less Current liabilities
9,827,983
9,817,647
NET ASSETS
9,827,983
9,817,647
Fund$
Unrestrictety funds
12
9,827.983
9,817,647
Total funds
9,827,983
9,817.647
The finan¢ial statem8nts were approv8d by the Board of Trust88s and authorised for issue
.X?">.S.. and were signed on its beh81f by..
on
Trustee
The notes fvrm part of these finsncial statement5
Page g

HORN¢HURCH HOUSING TRUST
Notes to the Financial Statements
for the year ended 31 December 2022
Accounting polFcies
Basis of preparing the financial statements
Th8 financial ststernents ol the charity, which is a public benefit 8ntily under FRS 102. have b88n prepared in
accordance with the Charities SORP IFRS 1021 'Accounting and Reporting by Charities". Statement of
Recommènd8d Practice applicable lo Charities preparing their accounts in a¢cordanc8 With the Financial
Reporting Standard applicable In the UK and Republic of Ireland IFRS 1021 leffe¢live 1 January 20191,.
Financial Reporting Standard 102 'The Financial Reporting Standard applicable in th8 UK and Republic ol
Ireland, and th8 Charities Act 2011. The financial slaternents h8ve been p￿pa￿ under the historic81 cost
convention. with the exception of investments which are included at mark&t value, as modified by the
revaluation of ￿rt81ft assets.
Golng concern
The financial statements have been prepared on a going coneèrn basis.
The trustees hav8 reviewed and considere(I ralevanl information. including the annual budget and future cash
fiows In making their assessment with regard to going Concern. Based on these assessments. the trustees
have concluded th8t they catt continue to 3dopt the going concern basis in preparing the annual report and
account.
Finaneial reportlng standard 102 redu¢eil disclosure exèmptions
The charity has taken advantage ol the following disclosure exemptions in preparing these financi31 statement3,
85 permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic ol Irèland,.
the requirement5 of Section 7 Statemènt of Cash Flows.
Incorne
All income is recognised in the St8tement of Financial Activities once the charity has entitlement to the funds, it
is probable that the incotne will be re￿1Ve￿ and the amount can be measurad reliably.
Expenditure
Liabilities are re¢ogn15ed as expenditure as Soon as there is 8 legal or constructive obligation committing the
charity to that expenditure. it is probable that a transfer of economic b¢nefits will be required in settlement 2nd
the amount of the obligats'on can be measured reliably. Expenditure Is account￿ for on an accruals basis arTrd
has been classified under headings that aggregate all c05t related to the cstegory. Where costs cannot b6
directly attributed to particular he3dings they have been allocated to activities on a basis consistent wth the use
of resour￿$.
Allocatlon of cost
Costs of a direct nature have been grourEd and allocated directly to th6 activities lo which they ￿late.
Tangible lixed assets
D8preciation is provided at the following annual r81es in order to wriie off e8ch ass8t over its estirn8ted useful
Improvernents to property
Fixture5 and fittings
Computer equipment
Straight line over 20 yèars
20Q/o on cost
15% on reducing balancé
Invostments
I￿veStmentS are stated at fsir valuè. The mid-market valuab'on is included at the ba13n￿ sheet date and the
gain or loss Is taken to the Statement of Financial Activities.
Investment property
InveslmÈnl property is shown st most ￿cent valuation. Any aggregate surplus or defiryt arising from changes in
fair value is re¢ognise£J In the Slatem&nl of Financial Activities.
Taxation
As a charity. Homchurch Housing Trust 15 exempt from tax on incoTne and gain$ Izlling within Sectlon 505 of
thè Taxes Act 1998 or S256 of the Taxation of Chargeable Gains A¢t 1992 to thè extent that these 8re applied
to it's charitable objects.
Page 10

HORNCHURCH HOUSING TRUST
Notes to the Flnancial Statements etsntinued
for tho yaar ended 31 Deeember 2022
Accountlng policies ¢ontlnued
Fund accounting
Unrestricted funds a￿ available for use at the discretion ol the trustees in lurtherarn￿ ol the general objectlVèS
ol the charity Unrestricted funds include a revaluation reswve representing the restatement of investmBnt
ass8ts at market valuè.
Designat8d funds are unr88tricted lunds'ring fenced" by the Managemtnt Cornmittee for particular purposes.
Restricted funds can only be used for particular restricted purposes wthin the objects of Ihe eharity.
Restrictions arise when specified by the donor or when funrjs are r8ised lor particular restricted purposes.
Further explanation of the natur8 and purwse of eath fund Is included In the notes to the finanoal statements.
Frnancial Instruments
Financial sssels and finan¢ial liabilit18s are wognised in the b8lance sheet wh8n the entity b8¢ornes a party to
th8 contractual provisions of the instrument.
Basic financial instruments are initially recognise(l at th8 transaction price, un18S5 the arrangement Ctsll5titutes
a financing transaction, where it is re¢ognis8d at the present value of the future payments (Jiscounted at a
rnarket rate of interest lor a similar debt instrument.
Trade and other debtors and creditors are classified as basic financial instrurnents and measured at initial
recognition at transaction pri￿.
Cash and cash 8quivalents are classified as basic financjal instruments and comprise cash in hand 8nd at
bank.
Investment income
2022
2021
Dividends r￿1Vable
Deposit account interest
94.444
55
64,851
31
94,499
64,882
Tru$te•s' remuneratSon and b•nefit$
TrUSt￿s. retnuneration and benefits for the year ended 31 tlecember 2022 were £nil12021." £nill.
Trustees. expense$
Trustees, expenses for the year ended 31 De￿rnber 2022 were £nil12021- £nill.
Staff Costs
The average monthly number of employees during the y￿r was as follows".
Adrninistration
2022
2021
No émployees received emoluments in excess of £80,000.
Page11

HORNCHURCH HOUSING TRUST
Notes to the Financial Statements continued
for the yoar ond8d 31 Decgmber 2022
Comparatlves for the statement of financial a¢tivltles
Unre5tricled
funds
Income and endowments from
Charitable activitie¥
Core Activities
270,155
Investrn&nl incorne
64.882
Total
335.037
Expenditure on
Charitable a¢tivltlos
Core Activities
255.263
Net gains on Investments
342,370
NET INCOME
422.144
Reconclllatlon of funds
Total funds brought forward
9,395.503
Total lunds ¢arrled forward
9,817,647
Auditors. r•muneratlon
2022
2021
Fees payable to the ch8rity's auditors for audit ol thè charity's financial
staternenls
Fees payable to the charity's auditors for accountancy services
6,100
2,660
5,700
2.100
8,760
7,800
Pag8 12

HORNCHURCH HOUSING TRUST
Notes to the Financial Statements continued
for the year ended 31 December 2022
Tangible fixed assets
Improvements
lo
property
Fixtures
and
F￿ehOld
property
CompLrter
equiprn@nl
Totals
Cost or valuation
At 1 Janusry 2022
Additions
6.235.000
225.867
50,309
157,203
834
5,818,904
50,309
At 31 De￿mbar 2022
5,235,000
276.176
157,203
834
S,669,213
Depreclatlon
At 1 January 2022
Charge lor year
26,100
IS.184
155.414
357
566
40
182,080
15,581
At 31 December 2022
41,284
155,771
606
197,681
Nel book value
At 31 December 2022
5,235,000
234.892
1,432
228
5,471,552
At 31 D￿mber 2021
5,235,000
199.767
1.789
5.436.824
Cost or valuation at 31 December 2022 15 r8presented by..
Improvements
to
property
Fixtures
anil
fittings
Freehold
pmperty
Compttter
equipment
Totals
Valuation in 2020
Cost
4,626.095
808,905
4,626,095
1,043,118
276,178
157,203
834
5,235,000
276,176
157,203
834
5,669,213
Fixed a8s¢t investments
2022
2021
Improvements to property Shares
other
2,685,180
889.890
2.817,380
882.913
3.575,070
3,700,293
Additional information as follows".
Listod
investments
Market value
At 1 Januzry 2022
Additions
Disposals
Revaluations
2.817,380
155,336
1100,3691
1187,1671
At 31 December 2022
2,885,180
Net book value
At 31 Dec6rnber 2022
2,685,180
At 31 D$c8mber 2021
2,817.380
Page 13

HORNCHURCH HOUSING TRUST
Notes to the Flnancial Statements continued
for the year ended 31 Decemb•r 2022
Fixed asset investments - continued
There were no investment a5S8ts outside the UK.
Cost or valuation at 31 Decembsr 2022 is ￿presented by..
Llsted
Investments
Valuation in 2022
Cost
500,957
2,184.223
2,68S,180
Investments (neither listed nor unlisted) were a5 follows..
2022
2021
Other investm8nt
Additions
Rev8luations
882,913
32,827
125,8501
768.679
37.599
76,635
889,890
882.913
Investment property
Fair value
At 1 January 2022
and 31 D8￿Mber 2022
645,000
Net book value
At 31 D￿mber 2022
645,000
At 31 De¢etnber 2021
645.000
The fair value of investment property is based on s valuation by an an Independ8nt professionally qualified
valu8r who has re￿nI experien￿ In the location and dass of the investment property teing valua
Debtors= amounts falling du8 wlthin one year
10.
2022
2021
PrepaYM￿t$ and accrued income
3,687
2,140
Page 14

HORNCHURCH HOUSING TRUST
Notes to the Flnanclal Statèments continued
for thg year endod 31 De¢emb•r 2022
11.
Creditors.. amounts falllng du• wlthin one year
2022
2021
Trade ¢￿dItorS
Taxation and Social security
Other cieditors
2,973
4,064
763
15,241
9,343
12,316
20,068
12.
Movement In funds
Net
movement
in funds
At
31.12.22
At 1.1.22
Unrestrl¢ted funds
General fund
9,817,647
10,336
9,827,983
TOTAL FUNDS
9,817.647
10.336
9,827.983
Net movement in funds, included in the above 8re as follows..
Incoming
resources
Resour￿$
expended
Gains and
losses
Movem8nt
in lund5
Unmtricied fund5
Ganeral fund
405,452
1192.1731
1202,9431
10.336
TOTAL FUNDS
405,482
1192,1731
1202,9431
10,336
Comparatives for movement In funds
N8t
movement
in funds
At
31.12.21
Al 1.1.21
Unrestricted funds
General fund
9,395,503
422, 144
9,817.647
TOTAL FUNDS
9,395.503
422, 144
9,817,647
Comparative net MoV￿ent in funds, included in the above are as follows..
Incoming
rasourc£s
Resourcès
expended
G8ins and
105ses
Movement
in funds
Unrestricted funds
General fund
335.037
1255.2631
342.370
422, 144
TOTAL FUNDS
335.037
1255.2631
342,370
422,144
Unrestricted fun*Ys include fair value ￿8rve of £4,979,03812021.' £5,167,928)
Page 15

HORNCHURCH HOUSING TRUST
Notes to the Finan¢lal Statements - continued
for the year endod 31 December 2022
13.
Relatod party dlsclosur•5
During th8 previous year cx)nsultancy work was uniyertaken by B Marjorarn. fom)er Int8rim D1￿Ctor of Housing
for the London Borough of Havering ILBHI, in connection with f8cilitating the provision of services by LBH
under Ihe terms of 8 Corporate se￿ices Agreement and a Housing Agreement.
services during ihe year to 31 De￿Mb&r 2022 was £nil12021.£33.4531.
The total wst ol these
Pag8 18

HORNCHURCH HOUSING TRUST
Detailed Stat•mont of Flnanelal Activitles
for the year ended 31 D8cember 2022
2022
2021
Income ond endowments
Donatlons and legaclès
Donated S￿￿1￿$ and faulity'es
250
Investment Income
Dividends re￿iVable
Deposit account interest
94,444
55
64.851
31
94,499
64.882
Charitsble a¢tlvities
Weekly Maintenan(￿ & ancillary charges
Ground rents
308,928
1,775
268.305
1.850
310,703
270, 155
Totsl Incoming ￿sOUrceS
405,452
335.037
Expenditure
Charltable a¢tlvities
Repsirs and maintenance
Insurance
Property utilities
Accoun18n¢y
Helpline servic8
Personnel cost
Cost ol g8nerabng funds
66,413
4,018
10,116
8,76Q
2,746
55,429
9,409
86,214
4,876
7.901
7.800
2,633
63.860
9,287
156,891
182.571
Support costs
Management
Office costs
Gifts and benevolence
Legal and consultancy
Sundries
Subscriptions
Depreciation
3,683
4,376
10,165
492
873
15,582
2,586
2,809
5S.512
213
555
10.916
35,171
72,591
Flnance
Bank charges
101
Total resource5 expended
192,173
255,263
Net Income before gains and 1088e8
213,279
79.774
Realised recognised 9alns and Ios8e8
Carried forward
213.168
79,673
This page not form part ol the statutory finanaal statemènts
Page 17

HORNCHURCH HOUSING TRUST
Detalled Statement of Financial Activities
for the year ended 31 December 2022
2022
2021
Reali5ed recogni5ed gains and losses
Brought forward
Nat gainslllossè51 on investments
213,168
1202,9431
79,673
342,370
Net Income
10,336
422.144
This page does not form part of the statutory financial Statements
P8ge 18