## **Woodvale & Shankill Community Housing Association Limited** 

## **Report of the Board for the year ended 31 March 2024** 

The Board presents its report together with the financial statements for the year ended 31 March 2024. 

## **Principal Activities** 

The Group provides social housing accommodation for those in need, affordable housing and energy supplies. 

## **Results** 

The surplus on ordinary activities for the year was £6 , compared with a surplus of £647, for the previous year. 

## **Corporate Governance** 

In the opinion of the Board, the Association is in compliance with the Best Practice issued by the NHF Code of Governance. 

## **Board of Management** 

The Board meets throughout the year and has committees with specific responsibilities for housing, finance and audit. 

## **Going Concern** 

After making enquiries, the Board has a reasonable expectation that the Association had adequate resources to continue in operational existence for the foreseeable future.  For this reason the Board continues to adopt the going concern basis in preparing the financial statements. 

## **Internal Financial Control** 

The Board management is responsible for establishing and operating detailed control and report procedures.  The systems of internal financial control can provide only reasonable, and not absolute, assurance against material misstatement and loss. 

The Board has included consideration of the business risks facing the Association and of the existing internal financial control procedures.  The key elements of the control system in operation are: 

- The Board has adopted a formal schedule of matters reserved for its approval ensuring it maintains responsibility for overall strategy, approval of all property transactions and other major capital expenditure projects. 

- There is an organisation structure with clearly defined lines of responsibility and delegation of authority. 

- the Board.  Actual results are compared against budget and appropriate action identified and initiated. 

- The Board reviews matters relating to internal control and receives reports on a regular basis from the external and internal auditors and from senior management. 

- The process for identifying, evaluating and managing the significant risks faced by the Association is ongoing, has been in place for the year under review and up to the date of approval of the annual report and accounts, and is regularly reviewed by the Board. 

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Woodvale & Shankill Communi
Housin
Association Limited
Report of the Board for the year ended 31 March 2024 (eonlinued)
Board's responsibilttles
The Cowoperative and Community Benefit Societie5 Art (Northern Ireland) 1969 and registered housing
assocTation legislation require the members of the BO8￿ of Management to prepare financial statements f()r
each fiDanciaI year which give a true and fair view of the stste of the Association's affaiTS and of its surp1￿9
or deficit for that period. In preparing these statements the Board is required to:
Select suitable accounting policies and apply them consistently
Make judgements and estimate5 that are reasonable and prudent
Prepare the financial statements on going concern basis unless it is inappropriate to presume that
the Association will continue to operate.
The rnembers of Ihe Bcord of Managernenl are rtsponsible for keeping proper accounting tecords which
disclose with reasonable accuracy at any time the financral position of the Association and to enable them to
ensure that the financial stalements comply with the C(Foperdtive and Community Benefit Societies Act
(Northem Ireland) 1969and the Registered Housing Associations (Accounting Requirements) Order
(Northern Ireland) 1993. They have general responsibility for the taking of reasonable steps to safeguard the
assets of the Association and to prevent and det￿t fraud and other irregularities.
Statement of disclosure of infomiation to auditors
So far ag each of the memiErs of the Board is aware:
there is no relevant information of which the Association's auditors are unawar¢
they have taken all reasonable steps that they ought to have take￿ as members of the Board, in
order to make themselves aware of any relevant audit InfO￿atIOn and to establish that the
Association's auditors are aware of that infom]atio
Auditors
A resolution to reappoint MTS Chartered Accountants will be proEwd at the Annual General Meeting.
By order of the board
Chairperson
Belfast
Date: 5th August 2024