Company Number 00959426 NINE OAKS HOUSING TRUST LI￿￿ED FINANCIAL STATEMENTS YEAR EIYDED 31 MARCH 2025 Chanty Commission 2 4 JUN 2025 Received Waters and Atkinson Chartered Accountants Morecambe NINE OAKS HOUSING TRUST LIMrrED REPORT ATr4D ACCOUNTS for the YEAR ENDED 31 MARCH 2025 CONTEWfS Page Charitable company information Directors report 2ato2b Endependent examiner's report Statement of financi￿ activities Balance sheet Notes 6ato6g Page I NINE OAKS HOUSING TRUST LIMITED LEGAL AND ADMINISTRATIVE INFORMATION AS AT 31 MARCH 2025 TNCORPORATED ITE England on the l August 1969 REGISTERED AS CII4RtTY On the l January 1970 COMPANY NUMBER 00959426 CHARJTY NUMBER 260089 DIRECTORS B Whittak¢T P Grange M Lord (appointed 26 September 2024) C Slat¢r (appointed 13 February 2025) REGISTERED OFFICE Nine Oaks Phoenix Way Windemiere Cumbria LA23 IBB BANKERS Barclays Bank PLC 3 Crescent Road Winderniere Cumbria LA23 1 EB ACCOUNTANTS Waters and Atkinson Charter¢d Accountants Tlie Old Court House Clark Street Moreeambe Lancashire LA4 SHR Page 2a NINE OAKS HOUSING TRUST LIIVllTED DIRECTORS ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2025 Nine Oaks Housing Trust Limited was incorporated under the Companies Act 1948 to 1967 on the l August 1969 (Company number 959426) and is governed by ihe Memorandum and Articles of Association. The charitable company is limited by guarantee. The company is also re8lStered with the Charities Commissioners (Charity number 260089). Its address is Nine Oaks. Phoenix Way, Winderniere. Cumbria and the Directors during the year were-.- B Whittaker P Grange M Lord C Slat¢r The Directors aet on a voluntary basi5 and make up the governing body that adopt th¢ poli¢i¢s and make the decisions on behalf of the charity. Th¢y meet at regular intervals to discuss the current and futur¢ progress of the charity's objectives. Our Aims and Obj￿tiveS Pur os¢s and Aims Our charity's purposes as set out in the objects contain¢d in the company's memorandum of &sso¢iation are to.. benefit the public by the provision of accommodation for lonely and elderly p¢opl¢. The aim of our charity is to house such people who do not wish to stay in their own home and wish to have company in the fomi of a sheltered housing complex. Ensurin ur work delivers o r aims We review our aims, objectives and activilies each year. This review looks at what we achieved and the out¢omes of our work in the previous 12 months. The review looks at th¢ success of this aotivity and the benefits they have brought to those groups of people we are set up to help. The review also helps us ensure our aim, objectives and activities remained focused on our stated purpose. We have referred to the guidance contained in the Charity Commission's general guidanee on public benefit when reviewing our aim and objectives and in planning our fvture activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they hav¢ set. How our activitles deliver public benefit Our main activity and who we ty to help are described below. All our charitable a¢livities fo¢us on the provision of accommodation for lonely and elderly people and is undertaken to further our charitable purposes for the publtc benefit. The charity 15 a publi¢ benefit entity. Wh used and benefited om our services? During the year, 22 studioslapartments were available for rent for both male and femaIe residents that required our services. This is together with The Lodge and a single guest room. Income from Residents Fees increased froin £165,381 in 2024 to £240.764 in 2025. Overall costs were up from £184,824 in 2024 10 £209.492 in 2025. The directors remain satisfied with the financial position at the ¢nd of the year. Page 2b NINE OAKS HOUSING TRUST LIMrrED DIIIECTORS AZ4NUAL REPORT FOR THE YEAR ENDED 31 MARCH 2025 Recruitment Aud appointment of management eommittee The directors of the Company are also the charity trusl¢¢s for the purposes of charity law. New trust¢¢sldirectors are appointed on the recommendation of the existing trusteesldire¢lors. Skills and experience required at board level aTe assessed against the needs of the Company Strategy. Non)in&tions of potential new directors are sought from existing members of the Board, utilising their community, business and oth¢r links. Nominated individuals are invited to att¢nd al least one board m¢¢ting in an obs¢rv¢r capacity. They are given 8 realistic assessment of the likely time commitment that will be involved. They are required to submit a resume of skills and experienc¢ that they would bring to the board on the basis of which the board d¢cides whether to offer an appointment. Rlsk Review The management Committee has conducted its own review of the major risks to which the charity is exposed and systems have been established to mitigate those risks. Enternal risks are minimised by the implementalion of procedures for authorisation of all transactions and projects and to ensure consistent quality of delivery for all operational aspects of the Charitable company. These procedures are periodically reviewed to ensure that they still meet the needs of th¢ charity. Reserves Policy Th¢ management Committee has established a policy whereby the unrestrict¢d funds not committed or invested in tangible fixed ass¢ts {'the free reserves") held by the charity should be in the region of 6 months of the resources expended. At this level, th¢ M￿lagernent ¢ommittee feels that they would b¢ able to continue the current a¢tivities of th¢ charity in the eveiit of a significant drop in income. It would obviously be necessary to consider how the in¢ome would be replaced or activities changed. Small company exemptiong This report is prepared in accordance with the special provisiims of Part 15 of the Companies Act 2006 relating to small companies. B Whiftaker On behalf of e Directors Date 13 Page 3 INDEPENDEiYf EXAMINER'S REPORT TO THE TRUSTEES OF NINE OAKS HOUSJIYG TRUST LIMITED I report to the charity trustees on my examination of th¢ a¢¢ounts of the company for th¢ y¢ar end¢d 31 March 2025 which are Set out on pa8es 2 to 6. Responsibilities basis of report As the charity trustees of th¢ company (and also its directors for the purposes of company law) you ar¢ responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 {'the 2006 Acl.). Having satisfied my5¢1f that the accounts of the company are not r¢quired to be audited under Part 16 of the 2006 Act and are eligibl¢ for independent examination, I report in r¢spect of my examination of your company's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act,). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of fhe 201 l Act. Independent examiDer's statement I hav¢ completed my examination. l ¢onfim that no matters have come to my attention in connection with the examination giving me cause to believe that in any material re5pect- accounting records were not kept in respect of the company as required by se¢tion 386 of the 2006 Act- or the accounts do not accord with those records. or the accounts do not comply with the accounting requirements of section 396 of the 2006 Act oth¢r ihan any requirement that the accounts give a 'tru¢ and fair view, which is not a matter considered as part of an independent examination; or the accounts have not been prepared in accordance with the m¢thods and principles of the Statement of R¢¢ommend¢d Practice for accounting and reporting by charities I have no attention reached. cerns and have Come across no other matters in connection with the examination to which , Id be drawn in this report in order to enable a proper understanding of the ac¢ount5 to be Dami Sissons Chartered Accountanl Waters and Atkinson The Old Court House Clark Street Morecambe LA4 SHR Date . I[ILILS Page 4 IYINE OAKS HOUSllYG TRUST LIMITED STATEMENT OF FINANCIAL AcfIviTIES FOR THE YEAR EF4DED 31 MARCH 2025 (includillg income and expenditure occount) Total Funds 2025 Total Funds 2024 Unrestricted Restricted Fund5 Funds Notes Incoming and endowments from: Donations and legacies Others Investments Charitablc activities 1080 239 240764 1080 239 240764 1080 223 165381 Total Ineome and endowments 242083 42083 166684 Expenditure Charilable activities Governance costs 207968 1524 207968 1524 183360 1464 Totsl expenditure 209492 209492 184824 Net incomel{expenditure) 32591 32591 (18140) Transfers between funds Net movement ID funds 32591 32591 (18140) Total funds brought to￿0rd 344011 3L14011 62151 Total funds carried forward 14 Company Number 00959426 Page 5 NINE OAKS HOUSING TRUST LIMrfED BALANCE SHEET AS AT 31 MARCH 2025 2025 2024 Note Fixed assets Tangible assets 388101 392497 Current assets Sto¢ks Debtors Cash at bank and in hand 1000 4356 64217 69573 1000 10 4192 35192 Creditors: amounts falling due Ivithin one year 242 26807 Net current assets 372 838 Total assets less current liabilltles 433473 400882 Creditor5." amounts falling due after more than olle year Net assets 12 56871) 56 71 Funds Unrestricted fi￿dS 13 The company is entitled to exemption from audit under S¢¢tion 477 of the Companies Act 2006 for the year ended 31 Mawh 2025. The members have not required th¢ cotnpany to obtain an audit of its financial slatsments for the year ended 31 March 2024 iwt accordance with S¢ction 476 of the Companies A¢t 2006. The director5 acknowledge their responsibiliti¢s for complying with the requirements of the Act with respect to accounting records wid the preparation of accounts. These financial statements are prepared in accordance with the spe¢ial provisions of Part 15 of th¢ Companies Act 2006 relating to small companies. The financial statements on pages 4 to 6g were approved by the board of Di and signed on its half i7.0