Reg No. IP000193 Triangle Housing Association Ltd Report and Financial Statements For the Year Ended 31 March 2023
Triangle Housing Association Ltd Year Ended 31 March 2023 Contents page Page Board of Management and Advisers Report of the Board of Management 2-11 Independent Auditor's Report 12-14 Statement of Comprehensive Income 15 Statement of Changes in Equity 16 Statement of Financial Position 17 Statement of cash flows 18 Notes to the Statement of cash flows 19-20 Notes to the financial statements 21-32 Appendices 33-41
Triangle Housing Association Ltd Year Ended 31 March 2023 Board of Management Ms K Mackenzie Mr N Dunlop Mr M Mccracken Mr W Mccluggage Mrs J Mccollam Mrs C Condren Ms N Diver Mrs D Harshaw Mr Darren Balmer Mr Michael Dallat Mrs Deirdre McBride Chairperson/Treasurer Vice Chairperson Company Secretary Fraud Lialson Officer (Co-opted 20 March 2023) (Co-opted 20 March 2023) (Co-opted 20 March 2023) Chief Executive Mr C Alexander Registered office 60 Eastermeade Gardens Ballymoney Co Antrim BT53 6BD Registered under the Co-operative and Comtnunity Benefit Societies Act (Northern Ireland)2016 (formerly the Industrial and Provident Societies Act (Northern Ireland) 1969). Registered number IP 000193 Registered with the Charity Commission for Northern Ireland - NIC 101486 Statutory Auditors ASM (B) Ltd Glendinning House 6 Murray Street Belfast BTI 6DN Bankers Danske Bank Ltd 22 The Diamond Coleraine BT52 IDA Barclays Bank Donegall House Donegall Square North Belfast BTI 5GB Ulster Bank Ltd 11-16 Donegall Square East Belfast BTI SUB Solicitors Macaulay Wray 35 New Row Coleraine BT52 IAH Edwards & Co 28 Hill Street Belfast BTI 2LA
Triangle Housing Association Ltd Year Ended 31 March 2023 Report of the Board of Management for the year ended 31 March 2023 The Board presents its report together with the financial statements for the year ended 31 March 2023. atement of Board of Mana ement's res on ibili The Board of Management is required by law to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Association as at the end of the financial year and of the surplus or deficit for that period. The Board of Management confirms that suitable accounting policies have been used and applied consistently and reasonable and prudent judgements and estimates have been made in the preparation of the financial statements for the period ended 31 March 2023. The Board of Management also confirms that applicable accounting standards have been followed and that the financial statements have been prepared on the going concern basis. The Board of Management is responsible for keeping proper accounting records, which disclose, with reasonable accuracy, at any time the financial position of the Association. It is also responsible for safeguarding the assets of the Association and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Princi al activities Triangle is incorporated under the Co-operative and Community Benefit Societies Act (Northern Ireland) 2016 (formerly the Industrial and Provident Societies Act (Northern Ireland) 1969) (IP000193) and is established for charitable purposes and for the public benefit. Triangle is a registered housing association with the Department for Communities (Reg 32). It is a not for profit organisation and is registered as a charity with the Charity Commission for Northern Ireland (NIC101486) and has charitable status with HMRC. Business Review Triangle (the Association) provides social housing; including general needs housing; supported housing and care for people with disabilities and the elderly. intensive housing support services (floating support) to vulnerable clients and progression to employment services to people with learning disabilities and autism. During 2022123, the key achievements were: Triangle increased its rents in line with CPI + 1.50/0 (4.60/0) for the 2022123 year. Rents were confirmed to be 42 % lower than market rents. The Board reviewed its rent setting policy during the year and agreed a new rent setting system which will be implemented for new schemes from 2023124 and for existing home5 from 2024125. Triangle completed 73 additional housing units in the year. At the end of the year Triangle had 1,404 units of accommodation compared with 1,337 units the previous year. Triangle also provided direct support and care services to 160 service users with learning disabilities and 37 frail elderly people. Triangle provided homes for 284 people with special needs with 5UPPOrt services delivered to them by 11 joint management partners. In addition, floating support services were provided to 861 people who required emergency accommodation and support and longer-term peripatetic support services. Triangle also provided employment support services and training to 226 service users with disabilities. An additional 105 service users attended employment training at Triangle's Alternative Angles social enterprise sites. £445k was invested in replacing components within existing housing stock. The Association's Fire Safety Procedures were substantially reviewed and new procedures
Triangle Housing Association Ltd Year Ended 31 March 2023 were introduced to assess and manage damp and mould within Triangle's property. This revealed no significant issues. Tenant satisfaction levels remained strong, however, satisfaction with our repairs service was lower than our target. Repairs timeframes were also lower than planned. Plans are in place to procure new contracts in early 2023/24 to help improve repair timeframes. The average energy performance rating of Triangle's stock increased to 78.36. This exceeded the business plan target of 78.1 and is considerably higher than the average for Northern Ireland housing stock (65.83). 87,40/0 of Triangle's stock has an energy performance band of A-C. This compares to the NI Average of 500/0. The Board approved a Zero Carbon Strategy which contains ambitious targets to reduce the organisation's carbon footprint significantly over the next few years. The percentage of properties void but available for letting reduced to 1.780/0 during the year. Whilst basic rent arrears less NIHE technical arrears increased slightly (by 0.40/0), this represents a good performance given the cost of living challenges faced by tenants. Triangle secured over £700k in financial support for our tenants and service users through its financial inclusion and floating support services. The surplus for the year before transfers to reserves was £928,714 compared with a surplus of £1,009,413 for the previous year. Triangle employed an average of 480 staff throughout Northern Ireland during the year. Triangle implemented a higher than budgeted pay increase for staff in 2022123. This was in recognition of the cost of living crisis. A savings plan was agreed by the Board to manage the impact of this. Along with four other organisations, Triangle formed a consortium of supported employment providers (called PROSPER) and successfully secured £4.8m in funding to deliver employment services to the economically inactive throughout 10 of the 11 council areas in Northern Ireland. Triangle appointed a new managed cloud and IT service provider. The accounts have been prepared in accordance with the Housing SORP, Statement of Recommended Practice for Registered Social Housing Providers. Value for Mone Value for Money (Vfm) in Triangle means: Delivering maximum value to the customer while minimising costs. This means understanding the customer's definition of value and focusing on the right things and doing things right. Making the best use of available, or limited, resources. Working effectively and efficiently while maintaining and improving the service to our customers. Ensuring clear correlation between transparent and well understood costs, and the quality and level of service provided. Defining value for money is important as is managing and demonstrating it. Triangle's Board of Management, through the executive team, leads the approach to value for money. The Board sets the strategic direction of the organisation and relates value for money to the organisation's vision and purpose. An exciting and ambitious new corporate strategy for the period 2023-2026 has been adopted by the Board. Value for money is embedded within the operations of the organisation using a variety of methods. Triangle produces a balanced scorecard to both establish and monitor progress against corporate and annual plans. The organisational scorecard operates as a top-level view ot the business and draws on the most essential indicators of organisational success. This approach forms the basis of its value for money management process. It is reviewed by the Board of Management on a quarterly basis and is populated with'value, and'money, measures as well as covering the efficiency of the 'value delivery system,.
Triangle Housing Association Ltd Year Ended 31 March 2023 Triangle identifies four strategic objectives under the four themes of stakeholders, people, finance and processes. Achieving a balance of progress against the specific targets within these four themes and ensuring that we remain true to our core values should, we believe, ensure success. stakeholders - Improving lives by delivering excellent services People- Valuing and enabling our people to meet current and future challenges Finance - Creating sustainable growth through strong financial management Processes - Continually improving key organisational processes The corporate and annual plan scorecard is reflected in an operational plan for each department as well as individual employee scorecards monitored at regular performance reviews and annual appraisals by Managers. More specific strategies have been developed around core activities that lead to economic, efficient and effective services. These include; a Development and Asset Management Strategyi a Treasury Strategyi a Tenant Participation / Service User Participation and Engagement Plan. Financial Inclusion Strategy and an Equality Plan. The Board has considered its response to the climate crisis and agreed a detailed Net Zero Carbon Strategy in 2022123. Triangle can demonstrate how value for money (Vfm) has been delivered in the financial year 2022123 and has a plan for securing value for money into the future. It is a self - assessment process undertaken by the Board of Management and senior employees of the organisation. The organisation also uses a variety of methods to involve tenants, service users and staff in the development of strategy and to confirm what value for money represents from their perspective. The organisation also undertakes a nationwide benchmarking exercise with other registered housing associations. Triangle employs a range of external accreditation processes to assess and provide frameworks and recommendations for improving its value for money approach, including: IS09001 quality management process; Investors in People (Silver Award secured) and the Customer Service Excellence Award (secured). Addin Value Since 1977 Triangle has been providing value including significant social value by engaging in the fol lowing activities: Building new homes. Landlord services such as housing management and maintenance. Supporting people to live independently and alleviating homelessness. The organisation directly manages supported accommodation for people with learning disabilities and frail elderly and provides floating support services to those with emergency housing issues. Community investment - particularly working to increase employability of those with learning disability / or on the autistic spectrum through training environments and supported employment placements. Partnering with other providers of services to the community consistent with the value added by its own directly managed activities. Significant additional value is also created by Triangle in the process of delivering these activities, notably through good procurement practice. Tenants and service users have always been the primary focus for this value; however, a significant amount of value extends to the wider community and local and national government in the pursuit of their policy objectives.
Triangle Housing Association Ltd Year Ended 31 March 2023 Triangle's governing board, executives and tenants involved in decision making must recognise and balance diverse perspectives, including those representing existing and future tenants. Triangle's customer base can be summarised as follows: TRI NGLE Key Stakeholders / Customer Groups SiJpwld Ll¢ry iryr•ssM * EiYWOyin Roth9 S Ag•$1ty Trtw$ H••#ll & So¢Atè C•r• Tru*ts . Dwwl far th• E¢v+>ftYi IDE Ewly Fwid IESFI Autr¥ytyRQIAi Tn• Clw INVE570KS IN Pf: PLf Tenants and service users are the ultimate test of the value of our activity. The Tenant Advisory Group for people with learning disabilities has confirmed that it considered the following critical in securing value for money: values; staff attitude; person centred services; a safe environment. increasing levels of independence. The provision of accessible information is important to them and the Tenant Advisory Groups have worked hard in helping the organisation develop and produce accessible information. Interviews were carried out with general needs tenants and these identified that for themthe key drivers in determining value for money were: l. Customer Service 2. Response Repairs 3. Staff support 4. Tenant/community engagement
Triangle Housing Associatlon Ltd Year Ended 31 March 2023 Rent levels in terms of affecting tenants, views of value for money was not as important as improvements to the response repairs service. Triangle's activities as an organisation are quite unique within the housing association sector. The organisation is a medium provider of accommodation provision but a large provider of housing plus services to those with significant housing needs. Demon tratin Valu f rmone A summary of the key Value for Money Metrics for 22/23 are outlined below. This represents strong business health: The operating margin increased from 9.58 % In 2022 to 10.35 % in 2023. The operating margin is lower than other housing providers, however, this reflects the high proportion of supported housing services we provide. The operating margin has remained very stable over the past 5 years. Our reinvestment in existing homes and new homes was 7.630/0 of our total asset base. This was down from 12.55 % in 2021/22 but is above average for the sector. The rate of new housing supply delivery (new homes completed as a proportion of existing stock) was 5.450/0 compared to 9.470/0 in 2021122. Gearing (the proportion of borrowing in relation to the size of our asset base) was 25.80/0 compared to 27.30/0 in 2021/22. Interest cover was 1.9 times against our target of 1.2 times (2021/22 - 2.78 times) Return on capital employed (surplus plus profit on disposal of assets compared to the value of total assets) increased from 1.450/0 in 2021/22 to 1.7 % in 2022/23. Overall social housing cost per unit was £13,413 up from £12,320 in 2021/22. Our cost per unit is higher than other housing associations, due to the proportion of supported housing. The cost per unit of our general needs housing only was £4,803 compared to £4,550 in 2021122. In addition to the above, we also delivered the following key outcomes: Over £700k was secured in in financial support for our tenants and service users through our financial inclusion and floating support services. 331 people were supported to secure employment or training and education Financial Void loss reduced from 4.10/0 in 2021/22 to 3.40/0 in 2022/23. We improved the energy performance of a number of our homes through our maintenance investment programmes. The updated Asset Management strategy demonstrates that our housing assets deliver excellent net present values over a 30-year period. All occupied homes meet the Decent Homes Standard. Our tenant satisfaction outcomes remain strong with 940/0 of tenants and service users satisfied with the overall service we provide. Triangle's treasury policy is reviewed by the Board each year. The policy sets out investment policies, borrowing policies and treasury management procedures. The aim isto maintain sufficient cash balances to meet financial obligations as they become due andminimise interest payments on scheme loans. At the balance sheet date of 31 March 2023Triangle had total bank loans of £40,237,492 (2022: £39,557,073). Triangle complied with all covenants imposed by its lenders. Value for Mone 2022 23 A more detailed Value for Money Report and Improvement Plan linked to the Annual Business Plan for the incoming year 2023/24 will be established in consultation with Board, staff, tenants and service users. A progress report will be provided within the audited accounts for 2023/24.
Triangle Housing Association Ltd Year Ended 31 March 2023 Summary Key Performance Indicators for 2022/23 2019/20 2020/21 2021/22 2022/23 Number of Units 1,127 1,205 1,337 1,404 Total Loans £28,822,903 £35,193,296 £39,557,073 £40,237,492 Gearing Ratio Historic Cost 25.2 % 27.40/0 27.30/0 25.80/0 Interest Cover 3.21 3.66 2.78 1.92 Turnover £17,612,981 £18,934,430 £19,931,104 £21,791,451 0/0 Rent collected 99% loo% 990/0 970/0 Current Basic Rent Arrears 0.9% 2.60/0 3.0% 0/0 Rent Support & Care Arrears 2.80/0 2.8% 3.10/0 7.50/0 0/0 Rent loss due to voids 3.650/0 3.420/0 % of Bad Debt Written off 0.280/0 No of Users Floating Support 812 770 886 861 Floating Support Cost per User £1,052 £1,180 £1,043 £1,168 No of Users Progression to Employment 414 447 514 331 Progress to Employment Costsper user £2,405 £2,179 £1,950 £3,344 Total voids (available to re-let) 3.150/0 4.160/0 % of Repairs completed withintarget 91.3 % 90.10/0 880/0 82.90/0 New Home starts 83 92 84 100 0/0 of Properties Decent Homesstandard loo% IOOO/o IOOO/o IOOO/o .User Satisfaction with Services Satisfaction Overall 970/0 950/0 980/0 940/0 Satisfaction with Involvement Overall 970/0 950/0 950/0 930/0 Satisfaction with Repairs loo% 66% 67%
Triangle Housing Association Ltd Year Ended 31 March 2023 Summary Key Performance Indicators for 2022/23 2019/20 2020/21 2021122 2022/23 Satisfaction with Landlord Services 95% 90% 930/0 83% Rent Represents Value for Money 82% 840/0 840/0 Satisfied Support and Care 970/0 980/0 980/0 990/0 Satisfied - Community Outreath Service 990/0 IOOO/o loo% loo% Satisfied Employment Progression to loo% 990/0 loo% loo% Satisfied Service Floating Support 940/0 loo% loo% No of Complaints 16 25 28 27 No of Complaints unresolved Human Resources Labour Turnover 17.3 % 18.9 % staff Absence 5.60/0 7.50/0 ¥Based on income, not cost Environmental Social and Governance Re ortin Triangle has developed a report which sets out its Environmental, Social and Governance (ESG) activity against the Sustainability Reporting Standard for Social Housing. ESG is a framework that helps stakeholders understand how an organisation is managing risks and opportunities related to environmental, social, and governance criteria, ESG reflects the view that sustainability extends beyond just environmental issues. The Sustainability Reporting Standard for Social Housing is aligned to international frameworks including the United Nations, Sustainable Development Goals (SDG). It has 12 themes and 48 criteria. Triangle's report will be shared with its funders and key stakeholders. Internal Financial Control The Board of Management is responsible for Triangle's systems of internal financial control along with senior management is responsible for establishing and operating detailed control and reporting procedures. The systems of internal financial control can provide only reasonable, and not absolute, assurance against material misstatement and loss. The Board of Management has reviewed the effectiveness of the Association's system of internal financial control. The review 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.
Triangle Housing Association Ltd Year Ended 31 March 2023 There is an organisation structure with clearly defined lines of responsibility and delegation of authority. Detailed budgets are prepared covering the Association's bLtsinesses which are reviewed and approved by the Board. Actual results are compared against budget and appropriate action identified and initiated. The Audit and Risk Committee reviews matters relating to internal control and receives reports on a regular basis from the external and internal auditors and from the Executive Management team. Triangle's objective is to identify and manage those risks which are likely to occur and if they did, would have a significant impact on the organisation. Triangle uses risk management techniques in all aspects of its operations and integrates risk management as part of its culture. Triangle identifies, prioritises and assesses the risks it is subject to, as and when a risk emerges. It implements procedures to control and monitor risk. Triangle formally reviews its risk register quarterly. Goin Concern After making enquiries, the Board of Management has a reasonable expectation that Triangle has adequate resources to continue in operational existence for the foreseeable future and for this reason it continues to adopt the going concern basis in preparing the financial statements. Cor orate Governance It is the opinion of the Board of Management that Triangle is in compliance with Best Practice issued by the NHF Code of Governance. The Board of Management meets regularlythroughout the year. There are six committees, namely Finance; Housing and Development; Audit and Risk; Organisational Development and Communications; Supportservices. and Remuneration. All Committees meet regularly throughout the year. The Finance Committee has responsibility for finance and IT. The Housing and Development Committee has specific responsibilities for development and housing management including maintenance and floating support services. The ALFdit and Risk Committee has responsibility for internal and external audit, risk management and fraud.A professional independent person attends this committee and advises and supports the Board on its performance. The Organisational Development and Communications Committee has the remit for human resources, organisation development, learning and development, corporate services and communications. The Support Services Committee has the responsibility for supported living, outreach and progression to employment services. The Remuneration Committee has responsibility for overseeing the organisation's remuneration policies for all paid staff with particular responsibility for keeping under review the terms and conditions of the Chief Executive Officer and other Executive Management Team members. Each member of the Board of Management listed on page I holds a fully paid share of £lin the Association and no financial benefit is derived from such membership. Executive officers of Triangle hold no interest in the Association's share capital and, although not holding the legal status of directors, they act as executives within the authority delegatedby the Board.
Triangle Houslng Association Ltd Year Ended 31 March 2023 Board members do not receive any remuneration, only expenses in relation to travel allowances and incidental expenses incurred in the course of their duty. Gross expenses paid to the members for the year amounted to £1,772 (2022: £1,501) Chief Executive Officer and Directors receive remuneration agreed by the Remuneration Committee annually. Triangle makes an employer's pension contribution of either 60/0 or 7.50/0 to all staff through a defined contribution personal pension plan. No other special terms exist. Chief Executive Officer and Directors, remuneration excluding pension contributions were as follows: 2023 No. 2022 No. £75k-£80k £80k-£85k £85k-£90k £90k-£95k £95k-£IOOk £IOOk-£105k £105-£IIOK Com liance with Code of Best Practice The auditors have confirmed that in their opinion, with respect to the Board's statements on internal financial control and going concern above, the members have provided the disclosures required by the Code and such statements are not inconsistent with the information of which they are aware from their audit work on the financial statements, and that the Board's statement on pages 2 to 11 appropriately reflects the Association's compliance with the other paragraphs of the Code. They have carried out their review in accordance with the relevant Bulletin issued by the Auditing Practices Board, which does not require them to perform any additional work necessary to express a separate opinion on the effectiveness of either the Association's system of internal financial control or corporate governance procedures, or on the ability of Triangle to continue in operational existence. Donations Triangle has a charitable giving committee and made charitable donations during the year of £17,176 (2022 £24,506). io
Triangle Housing Association Ltd Year Ended 31 March 2023 Inde ndent Auditor The current auditors, ASM (B) Ltd, Chartered Accountants, have indicated a willingness to continue in office. A resolution to reappoint ASM (B) Ltd, Chartered Accountants, will be proposed at the Annual General Meeting. By Order of the board K Mackenzie Chair 26 June 2023 li
Trlangle Housing Association Ltd Year Ended 31 March 2023 Independent Auditor's Report Opinion We have audited the financial statements of Triangle Housing Association Limited for the year ended 31 March 2023 which comprises the statement of comprehensive income, the statement of changes in reserves, the statement of financial position, the statement of cash flows and the related notes to the financial statements, including a summary of 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) and the Housing SORP - Statement of Recommended Practice for social housing providers issued by the National Housing Federation. In our opinion the financial statements: give a true and fair view of the state of the Association's affairs as at 31 March 2023 and of its surplus for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice. and have been properly prepared in accordance with the requirements of the Co-operative and Community Benefit Societies Act (Northern Ireland) 2016 (formerly the Industrial and Provident Societies Act (Northern Ireland) 1969). Basis of opinion We conducted OLFr 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 Association 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 those 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 We have nothing to report in respect of the following matters in relation to which the ISAS (UK) require us to report to you where: the Board of Management's use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or the Board of Management have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the Association's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue 12
Triangle Housing Association Ltd Year Ended 31 March 2023 Other information The other information comprises the information included in the Report of the Board of Management other than the financial statements and our auditor's report thereon. The Board of Management is responsible for the other information. 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. In connection with our audit of the financial statements, our responsibility is to read the other information and, in so doing, 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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. Opinion on other matters prescribed by the Cornpanies Act In our opinion, based on the work undertaken in the course of the audit: the information given in the Report of the Board of Management for the financial year for which the financial statements are prepared is consistent with the financial statements. and the Report of the Board of Management has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of the knowledge and understanding of the Association and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Board of Management. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by u5. or the financial statements are not in agreement with the accounting records and returns; or we have not received all the information and explanations we require for our audit. Responsibilities of the board of management As explained more fully in the Board of Management responsibilities statement the Board of Management Is 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 Board of Management 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 Board of Management is responsible for aqqpqqing thp a£snriatinn's ahilitS1 tn rnntinL19 as a going ronrgrn, disrlosing, as applicablg, matters related to going concern and using the going concern basis of accounting, unless the Board of Management either intend to cease operations, or have no realistic alternative but to do so. 13
Triangle Housing Association Ltd Year Ended 31 March 2023 Auditor's responsibilittes for the audit of the financial statements 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 aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.. We considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following area: posting of unusual journals along with complex transactions. We discussed this risk with client management, tested a sample of journals to confirm they were appropriate and reviewed areas of judgement for indicators of management bias to address this risk. 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.or auditorsres onsibilities. This description forms part of our auditors, report. Use of our report This report is made solely to the Board of Management, in accordance with Article 38 of the Co-operative and Community Benefit Societies Act (Northern Ireland) 2016 (formerly the Industrial and Provident Societies Act (Northern Ireland) 1969). Our audit work has been undertaken so that we might state to the Board of Management those matters that we are required to state to them in an auditors, 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 Society and the Board of Management, for our audit work, for this report, or for the opinion we have formed. B Clerkin (Senior Statutory Auditor) for and on behalf of ASM (B) Ltd Statutory Auditor Glendinning House 6 Murray Street Belfast BTI 6DN 26 June 2023 14
Triangle Housing Association Ltd Year Ended 31 March 2023 Statement of Comprehensive Income For the year ended 31 March 2023 Notes 2023 2022 Turnover 21,791,451 19,931,104 Operating costs 3 (19,535,399) (18,021,185) Operating surplus / (deficit) 2,256,052 1,909,919 Gain / (loss) on disposal of fixed assets 133,002 30 Interest and financing income / (costs) (1,444,096) (879,715) Transfer to charity fund (16,244) (20,821) Surplus / (deflcit) before tax 928,714 1,009,413 Taxation Surplus / (deficit) after tax 928,714 1,009,413 other comprehensive income Unrealised surplus / (deficit) on revaluation of housing properties Total comprehensive income for the year 928,714 1,009,413 The notes on pages 21 to 32 form part of these financial statements. 15
Triangle Housing Association Ltd Year Ended 31 March 2023 statement of Financial Position As at 31 March 2023 Notes 2023 2022 Fixed assets Housing properties Other tangible fixed assets 10 140,594,996 2,469,074 131,449,344 2,550,153 12 143,064,070 133,999,497 Current assets Trade and other debtors 13 6,463,152 685,657 4,221,287 1,194,087 Cash and cash equivalents 7,148,809 5,415,374 Less: Creditors.. amounts falling due within one year Net current assets / liabilities 14 (10,596,769) (5,652,663) (3,447,960) (237,289) Total assets less current liabilities 139.616.110 133,762,208 Creditors: amounts falling due after more than one year Total net assets 14 (123,850.057) 15,766,053 (118,924,872) 14,837,336 Reserves Share capital Revenue reserve 19 31 29 15,636,593 70 14,725,461 69 Capital reserve Designated reserve 20 21 129,359 111,777 Total reserves 15,766,053 14,837,336 These financial statements were approved by the Board of Management and authorised for issue on 26 June 2023 and signed on its behalf by: K Mackenzie Chairperson M Mccracken Secretary Dunlop Vice Chairperson The notes on pages 21 to 32 form part of these financial statements. 17
Triangle Houslng Assoclation Ltd Year Ended 31 March 2023 statement of Cash Flows For the year ended 31 March 2023 Notes 2023 2022 Net cash inflow / outflow from operating activities Returns on investments and servicing of finance Capital expenditure and financial investment 2,851,118 3,075,449 (1,429,594) (871,075} (2,610,378) (7,765,022) Cash inflow / outflow before use of liquid resources and financing (1,188,854) (5,560,648) Financing 680.423 4,363,776 (508,431) (1,196,872) Reconciliation of net cash flow Increase / (decrease) in cash in period Cash and bank at l April 2022 Cash and bank at 31 March 2023 (508,431) 1,194,087 685,656 The notes on pages 21 to 32 form part of these financial statements. 18
Triangle Housing Association Ltd Year Ended 31 March 2023 Notes to Statement of Cash Flows For the year ended 31 March 2023 Reconciliation of operating surplus / (deflcit) to operating cashflows 2023 2022 Operating surplus / deficit Depreciation Transfers 2,256,052 2,090,493 16,244 (1,394,414) (220,356) 1,909,919 1,857,519 20,821 (1,215,640) (6,253) Amortisation of grant HAG eliminated Movements in: Debtors (779,158) 882,257 29,778 479,305 Creditors less than one year 2,851,118 3,075,449 Analysis of cash flows for headings netted in the cash f low statement Returns on investment and servicing of finance Interest received 6,794 (1,436,388) 259 Interest payable Net cash inflow / (outflow) for returns on investment and servicing of finance (871,334) (1,429.594) (871,075) Capital expenditure and financial investment Other fixed assets (11,460) (11,556,872) 8,411,685 546,269 (2,610,378) (36,486) (16,421,638) 8,693,071 31 Housing, land and buildings Capital grant received Sales proceeds Net cash inflow / (outflow) for capital expenditure and financial investment (7,765,022) Financing Loan principal repayments Drawdowns (319,580) 1,000,000 (1,646,224) 6,010,000 Share capital issued Net cash inflow / (outflow) from financing 680,423 4,363,776 19
Triangle Housing Association Ltd Year Ended 31 March 2023 Notes to Statement of Cash Flows (cont'd) For the year ended 31 March 2023 C. Analysis of changes in net funds At 31103122 Cashflows other Changes At 31/03/23 Cash in hand and at bank 1,194,087 (508,431) 685,656 Debt due within one year Debt due after more than one year (443,010) (245,087) (688,097) (39,114,063) (435,332) (39,549,395) (38,362,986) 1 188,851 39 551 837 20
Triangle Housing Association Ltd Year Ended 31 March 2023 Notes to the financial statements l. Legal status Triangle Housing Association Ltd is a housing association registered in Northern Ireland in the United Kingdom under the Co-operative and Community Benefit Societies (Northern Ireland) Act 2016 (formerly known as the Industrial and Provident Societies Act (Northern Ireland) 1969). The registered office of the Association is 60 Eastermeade Gardens, Ballymoney, Co Antrim, BT53 6BD. 2. Accounting Policies 2.1 Basis of accounting These financial statements have been prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard Applicable in the UK and Republic of Ireland, and the Statement of Recommended Practice ("SORP") for Registered Social Housing Providers. The financial statements are presented in Sterling (£), which is the functional currency of the Association. 2.2 Revenue recognition Revenue is recognised when the Association has entitlement to the funds and it is probable that the income will be received and the amount is reliably measured. Turnover includes rental and service charge income, rates receivable and residential charges, net of voids, and release of Social Housing Grants. 2.3 Government and other grants Social housing grant (SHG) or Housing Association Grant (HAG) is receivable from the Northern Ireland Housing Executive (NIHE) and is recognised in income over the useful life of the housing property structure under the accruals model. SHG/HAG due is included as a current asset. SHG/HAG received in advance is included as a liability. SHG/HAG received in respect of revenue expenditure is credited to the income and expenditure account in the same period as the expenditure to which it relates. SHG/HAG released on sale of a property may be repayable but is normally available to be recycled and is credited to the Disposal Proceeds Fund and included in the Statement of Financial Position within Creditors. 21
Triangle Housing Association Ltd Year Ended 31 March 2023 2.4 Tangible fixed assets Housing properties Housing stock is properties held for the provision of social housing or to otherwise provide social benefit and are accounted for within tangible fixed assets. Housing properties are principally available for rent and are stated at cost less accumulated depreciation and any accumulated impairment losses. Cost includes the cost of acquiring land and buildings, together with development costs. Works to existing properties which replace a component that has been treated separately for depreciation purposes, along with those works that result in an increase in net rental income over the lives of the properties, thereby enhancing the economic benefits of the assets, are capitalised as improvements. Depreciation of Housing properties The Association separately identifies the major components which comprise its housing properties, and charges depreciation, so as to write-down the cost of each component to its estimated residual value, on a straight line basis, over its estimated useful life. The Association depreciates the major components of its housing properties over the following useful lives: Structure 100 years Roofs - 70 years Windows and doors - 25 years Bathrooms - 20 years Mechanical systems 35 years Gas boilers/flues 15 years Kitchens 17 years Electrics 35 years Housing under construction is not depreciated and no depreciation is charged on the cost of land. Depreciation of other tangible fixed assets For other tangible fixed assets, depreciation is charged on a straight-line basis over the expected useful lives of the assets to write off the cost, less estimated residual values over the following expected lives: Office equipment - 3 to 5 years Scheme asset5 - 10 years Office premises - 25 years 22
Triangle Housing Association Ltd Year Ended 31 March 2023 2.5 Impairment Housing properties are assessed annually for impairment indicators. Where indicators are identified an assessment for impairment is undertaken comparing the asset's carrying amount to its recoverable amount. Where the carrying amount of an asset is deemed to exceed its recoverable amount, the asset is written down to its recoverable amount, this is likely to be the fair value in use of the asset based on its service potential. The resulting impairment loss is recognised as expenditure in income and expenditure. Where an asset is currently deemed not to be providing service potential to the association, its recoverable amount is its fair value less costs to sell. Other assets are reviewed for impairment if there is an indication that impairment may have occurred. 2.6 Employee benefits Defined Contribution Pension The Association operates a defined contribution scheme for certain employees. A defined contribution plan is a pension plan under which the Association pays fixed contributions into a separate entity. Once the contributions have been paid the Association has no further payment obligations. The contributions are recognised as an expense when they are due. Amounts not paid are incSuded as accruals in the Statement of Financial Position. The assets of the plan are held separately from the Association in independently administered funds. 2.7 Tenants. Services Fund For certain schemes the Association is required to charge to the tenants an additional amount to fund the cost of common facilities. Annual surpluses or deficits are transferred to the Tenants, Services Fund to equalise the financial position over the lifetime of the scheme. 2.8 Disposal Proceeds Fund The net surpluses, after loan repayments, that arise from the sale of property to tenants under the voluntary purchase grant arrangements, instituted by the Department for Communities, can be utilised by the Association. If the surpluse5 are not used within two years of their receipt they may be payable in part or in full to the Department for Communities. 2.9 Income tax The Association is accepted as a charity by HMRC. Income and capital gains of the Association are generally exempt from tax if applied for charitable purposes. 2.10 Value Added Tax The Association is not registered for VAT. All of its income, including rental receipts, IS exempt for VAT purposes. 23
Triangle Housing Association Ltd Year Ended 31 March 2023 2.11 Financial instruments The Association 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. 2.12 Judgements in applying accounting policies and key sources of estimation uncertainty No judgements have been made in the process of applying the above accounting policies (apart from those involving estimates). There were no key assumptions made concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and Ilabilities within the next financial year. 2.13 Going concern After making appropriate enquires, the Board of Management has a reasonable expectation that the Association has adequate resources to continue in operational existence for the foreseeable future. For this reason, it continues to adopt the going concern basis in the financial statements. 2.14 Operating surplus/(deficit) The operating surplus/(deficit) on the statement of comprehensive income includes the principal surplus/(deficit) from revenue producing activities less operating costs of the Association and other activities that are not investing or financing activities. The Association excludes gains/ (losses) on other fixed assets (non-social hoLJsing assets), interest receivable and loan interest payable from the operating surplus/ (deficit). Turnover, Operating costs and operating surplus 2023 2022 Operating Surplus/ (deficit) Operating Surplus/ (deficit) Operattng Turnover Operating Costs Social Housing Activities(Note 4) 18,832,253 16,472,728 2,359,525 1,960,365 Non-social Housing Activities(Note 5) 2,959,198 3,062,671 (103,473) (50,446) 21,791,451 19,535,399 2,256,052 1,909,919 24
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Triangle Housing Association Ltd Year Ended 31 March 2023 Turnover, operating costs and operating surplus/ (deficit) from social housing activities (cont'd) Dfc Allowances 2023 2022 Management allowances Management costs Surplus/ (deficlt) 282,348 (549,544) (267, 196) 257,400 (454,128) (196,728) Maintenance allowances Planned, cyclical and reactive maintenance Surplus/ (deficit) 330,832 {687,836) {357,004) 301,600 (709,399) (407,799) Technical & Non-Technical Income 2023 2022 Technical Non-Technical Total 3,487,757 3,365,031 6,852,788 3,219,006 2,546,172 5,765,178 Turnover, operating costs and operating surplus/(deficit) from non-social housing activities 2023 2022 Operating Income Development administration Supported Employment Floating Support services Special Recognition Payment Trading other grants Total Non-social Housing Income 486,591 1,106,936 1,005,356 513,416 1,002,124 906,259 40,733 51,415 183,950 2 697 897 58,457 301,858 2 959 198 Operating Costs Development administration Supported Employment management costs Floating Support cost Trading other grants costs Total Non-social Housing Expenditure 486,592 1,168,543 1,037,03 49,760 320,737 062 513,417 1,097,364 878,356 61,191 198,015 2 748 343 Operating surplus/(deficit) on non-social housing Other Grants 2023 2022 Trust 5,204 174,993 6,700 Housing For All Big Lottery Fund Greenlight Big Lottery Fund - Brilliantly Me Big Lottery Fund Together for Our Planet The Gallaher Trust - PARITY project Total Grants 48,353 11,266 30,450 63,035 3,510 59,121 43 301 858 183 950 26
Triangle Housing Association Ltd Year Ended 31 March 2023 6. Surplus on ordinary actlvities Surplus on ordinary activities is stated after charging/ (crediting): 2023 2022 Depreciation owned tangible fixed assets Amortisation of grant / Release of capital grant Auditor's remuneration External audit of these financial statements Internal audit 7. Interest payable 2,090,493 (1,394,414) 1,857,519 (1,215,640) 16,800 24,544 16,800 13,644 2023 2022 Housing property loan interest Bank interest and charges 1,436,388 871,334 8. Employee information Average monthly number of employees during the financial year expressed as full-time equivalents is as follows: 2023 No. 2022 Administration Housing, support, development and care 84 396 480 96 389 485 staff costs 2023 2022 Wages and salaries Social security costs Pension costs Agency staff 10,922,408 984,513 640,033 814,593 13,361,547 10,653,691 908,084 603,668 265,517 12,430,960 Special Recognition and Furlough Grants In 2022 fLFrlough and the Special Recognition Payments from the Department of Health and Supporting People were included in staff costs. Furlough payments were £5,731 and the Special Recognition payments were £323,891. There were no such costs in 2023. During the year, 6 employees (2022: 1) received termination payment5 of £27,996 (2022: £2,000). Of this amount £Nil was outstanding at the year-end (2022: £Nil). The aggregate remuneration of key management personnel of the Association during theyear was: 2023 2022 Aggregate emoluments payable to key management (including pension contributions and beneflts In kind) 477,462 462,292 Emoluments payable to the highest paid director (excluding pension contributions but including benefits in kind) 106,667 105,726 27
Triangle Housing Association Ltd Year Ended 31 March 2023 The number of management personnel to whom emoluments (excluding pension contributions) were paid during the year falls within each of the following bands: 2023 2022 75,000 - 80,000 80,000 - 85,000 85,000 - 90,000 90,000 - 95,000 95,000 -100,000 100,000 - 105,000 105,000 - 110,000 Board of Management remuneration There was no remuneration paid to the Board members of the Association (2022: £nil). Board members were paid out of pocket expenses totalling £1,772 (2022: £1,501). 10. Tangible fixed assets - Housing properties Housing properties held for letting Cost or valuation At l April 2022 Additions Disposals At 31 March 2023 Completed Work in progress 144,692,075 11,556,872 (520,137) 155,728,810 135,849,835 19,878,975 Depreciation and impairment At l April 2022 Charge for the year Impairment charged in year Eliminated on disposal At 31 March 2023 13,242,731 1,997,952 (106,869) 15,133,814 Net book value At 31 March 2023 At 31 March 2022 140,594,996 131,449,344 28
Triangle Housing Association Ltd Year Ended 31 March 2023 11. Housing Stock Number of unit wned and mana edat ear end Self-contained 2023 Properties 713 163 141 2022 Properties 650 163 135 General Needs Housing Supported Housing Sheltered Housing Shared Ownership / Affordable Housing Private rented 1,018 949 Non Self-contained 2023 Bed spaces 2022 Bed spaces General Needs Housing Supported Housing Sheltered Housing 386 388 386 388 Total Units Owned and Managed at year end 1,404 1,337 12. Other tangible fixed assets Office premises Scheme assets Office equipment Tota I Cost or valuation At l April 2022 Additions Disposals At 31 March 2023 2,826,094 3,020 157,890 4,020 555,636 4,420 3,539,620 11,460 2,829,114 161,910 560,056 3,551,080 Depreciation At l April 2022 Charge for the year Eliminated on disposal At 31 March 2023 408,617 46,540 67,550 16,189 513,300 29,810 989,467 92,539 455,157 83,739 543,110 1,082,007 Net book value At 31 March 2023 At 31 March 2022 2,373,957 2,417,477 78,171 90,340 16,946 42,336 2,469,074 2,550,153 29
Triangle Housing Association Ltd Year Ended 31 March 2023 13. Debtors 2023 2022 Gross rental debtors Technical Gross rental debtors Non-Technical Provision for bad debt Net rental debtors Housing Association Grant receivable Prepayments and accrued income Tenants, Services Fund Other debtors 1,421,734 164,786 (28,266) 1,558,254 4,059,811 389,985 43,215 411,887 6,463,152 602,318 90,379 (10,024) 682,673 2,597,103 360,317 581,194 4,221,287 14. Creditors Amounts fallin due within I ear 2023 2022 Loans (see analysis below) Housing Association Grant in advance Deferred Housing Association Grant (Note 15) Disposal Proceeds FLtnd Accruals and deferred income Rent and service charges received in advance Tenants, Services Fund (schemes undercharged and payable) Other taxes and social security Charity fund Residents, funds Other creditors 688,097 4.999,894 1,394,414 294,321 1.120,156 291,395 443,010 1,361,907 1,215,640 1,147,280 201,508 89,558 25,223 24,916 1,758,353 10,596,769 26,155 24,072 1,143,533 5,652,663 Amounts fallin due after more than I ear 2023 2022 Loans (see analysis below) Deferred Housing Association Grant (Note 15) 39,549,395 84,300,662 123,850,057 39,114,063 79,810,809 118,924,872 Loans 2023 2022 Within one year Between one and two years Between two and five years In five years or more 627,708 699,475 12,820,896 26,089,413 40,237,492 443,010 625,825 2,683,161 35,805,077 39,557,073 30
Triangle Housing Association Ltd Year Ended 31 March 2023 14. Credltors (cont'd) Housing loans are secured by specific charges on the association's properties and are repayable at varying rates of interest and terms, some of which extend up to 13 or 23 years. The association had total loan facilities of £49,237,492 at the 31st March 2023 of which £40,237,492 was drawn. 70 % of the loan portfolio was at fixed rates of interest for their term. 15. Deferred grant 2023 2022 At l April Grant received in the year Released to income in the year Eliminated on component disposals Eliminated on housing unit disposals At 31 March 81,026,447 6,283.399 (1,394,414) 73,205,200 9,043,140 (1,215,640) (220,356) 85,695,076 (6,253) 81,026,447 16. Capital commitments At 31 March 2023 the Association had capital commitments as follows: 2023 2022 Contracted for but not provided in the financial statements 19.077.917 Expenditure authorised by the Board of Management, but not contracted 13,015,266 19,077,917 13,015,266 17. Contingent Liabilities Social Housin Grant Housin Association Grant The Association released Social Housing Grant/Housing Association Grant during the year in relation to building components replaced. The possibility of reimbursement to the Department for Communities is considered to be unlikely as the housing properties are expected to continue to be made available for social housing for the foreseeable future. Holida Pa The Association has a contingent liability in relation to a potential liability for holiday pay on overtime payments. Triangle has been paying holiday pay on overtime payments since 2015 when the regulations were introduced however the PSNI case introduces the potential that payments could be back dated further. There are a number of uncertainties in relation to calculating a reliable estimate including: the period to be covered; consideration as to what is deemed regular/routine overtime; and the identification and potential inclusion of other allowances. A reliable estimate cannot be made at this stage. 18. Pension Commitments Defined contribution ension The Association operates a defined pension contribution scheme. The assets of the scheme are held separately from the Association in an independently administered fund. The Association paid contributions during the year amounting to £640,033 (2022: £603,667). Contributions outstanding at the 31 March 23 amounted to £81,084 (2022: £78,043). 31
Triangle Housing Association Ltd Year Ended 31 March 2023 19. Leasing commitments eratin leases The total of the Association's future minimum lease payments under non-cancellable operating leases was: 2023 2022 Within one year Between one and five years In five years or more 59,439 26,292 53,702 24,277 85,731 77,979 20. Share capital Ordinary shares of £1 each fully paid: 2023 2022 At l April Issued in the year Transferred to capital reserves At 31 March 29 31 (i) 31 (2) 29 21. Capital reserves 2023 2022 At l April Transferred to / from share capital At 31 March 69 67 70 69 22. Restricted reserves 2023 2022 At l April Transferred to / from revenue reserves At 31 March 111,777 17,582 129,359 242,134 (130,357) 111,777 23. Related party transactions During the year the Association had no transactions with related parties. 32
Triangle Housing Association Ltd Year Ended 31 March 2023 APPENDIX I - GENERAL NEEDS HOUSING 2023 2022 INCOME Rent and service charges 3,513,093 4,414,683 614,875 995,253 (103,267) Rates receivable SHG released Voids 500,038 807,711 (124,905) 5,921,544 4,695,937 EXPENDITURE Administration costs Insurance Heat and light Bad debts Other running expenses Rates payable Rates discount Repairs routine Repairs planned and cyclical Repairs administration costs Disposals Depreciation of properties Depreciation - other Interest 452,808 87,931 54,041 18,570 389,746 641,922 (68,537) 405,328 282,585 96,737 376,932 70,639 29,122 2,106 210,716 561,343 (72,764) 382,633 326,767 77,196 4,109 1,232,539 1,811 755,005 1,488,676 1,962 1,242,497 5,094,266 3,958,154 Surplus / (deficit) before transfers 827,279 737,576 Transfer from / (to) tenants, services account 157,315 12,116 Surplus / (deficit) 984,594 749,692 This schedule is for information purposes only and is not subject to audit. 33
Triangle Housing Association Ltd Year Ended 31 March 2023 APPENDIX 2- SUPPORTED HOUSING 2023 2022 INCOME Rent and service charges Rates receivable/ (overpaid) Supporting People income Health trust charges Personal care charges Social Housing Grant released Voids Furlough income 598,819 10,368 2,444,391 7,361,138 596,243 123,748 (39,627) 1,097 573,959 10,095 2,272,621 6,959,229 611,053 125,566 (43,595) 248,115 11,096,177 10,757,043 EXPENDITURE Administration costs Direct salaries Housing/Care salaries Travel Training and recruitment Residents. costs Rent Rates payable/(credit due) Rates discount Insurance Water rates Stationery, computer, phone and postage Heat and light Tenant participation Bad debts Service charges Running expenses Repairs routine Repairs planned and cyclical Repairs administration costs Depreciation Disposals Interest 1,118,010 1,115,060 7,833,248 19,657 165,444 15,608 9,177 10,420 (1,042) 16,632 23,015 67,703 34,542 23,207 562 69,255 75,488 102,453 130,625 287,939 156,238 1,178,182 1,042,552 7,305,491 14,984 107,700 32,009 3,485 10,275 (1,027) 15,182 16,609 71,368 34,346 32,426 172 52,506 78,175 143,258 64,452 241,292 157,178 5,856 18,143 30,271 11,303,512 10,624,614 Surplus / (deficit) before transfers (207,335) 132,429 Transfer from / (to) tenants, services account (17,779) (25,045) Transfer from / (to) restricted fund (17,582) 130,357 Surplus (242,696) This schedule is for information purposes only and is not subject to audit. 237,741 34
Triangle Housing Association Ltd Year Ended 31 March 2023 APPENDIX 3- ELDERLY SCHEME 2023 2022 INCOME Health trust Supporting People Other 168,421 248,094 1,905 158,117 231,224 29,402 418,420 418,743 EXPENDITURE Administration costs Staff costs Stationeryi computer, telephone and postage Sundries 53,648 345,170 2,849 10,754 55,750 309,872 2,892 12,377 412,421 380,891 Surplus / (deficit) 5,999 37,852 This schedule is for information purposes only and is not subject to audit. 35
Triangle Housing Association Ltd Year Ended 31 March 2023 APPENDIX 4- AGENCY MANAGED REVENUE ACCOUNT 2023 2022 INCOME Rent and service charges Rates receivable Social Housing Grant Voids Furlough income 1,154,502 57,635 275,412 (91,438) 1,093,511 56,395 282,363 (70,785) 1,396,111 1,361,484 EXPENDITURE Administration costs 107,371 31,347 11,806 103,271 115,744 21,827 9,062 109,784 709 48,783 (6,002) 43,104 199,681 133,802 23,704 1,013 362,321 7,800 98,185 1,169,517 Insurance Heat and light Service charges Bad debts Rates payable Rates discount Gardening Repairs routine Repairs planned and cyclical Administration costs Disposals Depreciation Sundries Loan interest 68,043 (5,921) 47,179 160,222 144,303 27,653 360,959 11,838 163,619 1,231,690 Surplus before transfers 164,421 191,967 Transfer from / (to) tenants, services account (6,763) 2,135 Surplus 157,658 194,102 This schedule is for information purposes only and is not subject to audit. 36
Triangle Housing Association Ltd Year Ended 31 March 2023 APPENDIX 5 PROPERTY DEVELOPMENT 2023 2022 INCOME Acquisition and development allowances 486,591 513,416 EXPENDITURE Administration costs Sundry development costs 155,971 330,621 486,592 (i) 192,818 320,599 513,417 (i) DONATIONS Donations received Residents, expenses 2,570 (1,725) 2,328 (1,246) Surplus / (Deficit) 845 1,082 This schedule is for information purposes only and is not subject to audit. 37
Triangle Housing Association Ltd Year Ended 31 March 2023 APPENDIX 6 PROGRESSION TO EMPLOYMENT ACCOUNT 2023 2022 INCOME Trust income DEL income ESF grant 390,680 165,288 550,968 349,049 261,771 391,304 1,106,936 1,002,124 EXPENDITURE Salaries Travel Training Recruitment Marketing Insurance Computer running costs Stationery Heat and light Telephone Rent Maintenance Office furniture/equipment Sundry Central costs 835,864 23,901 19,676 424 782 828 9,141 2,759 18,631 3,941 80,032 16,897 2,971 11,795 140,901 765,214 11,018 16,137 66 650 7,723 8,490 2,755 17,912 5,698 66,746 21,819 4,514 9,291 136,782 1,168,543 (61,607) 1,074,815 (72,691) Surplus TRADING ACCOUNT Trading income 58,457 51,415 Trainee expenses Other expenses 18,217 31,543 13,974 47,217 49,760 61,191 (9,776) Surplus / (deficit) 8,697 This schedule is for information purposes only and is not subject to audit. 38
Triangle Houslng Association Ltd Year Ended 31 March 2023 APPENDIX 7 - FLOATING SUPPORT 2023 2022 INCOME Supporting People 1,005,356 924,443 EXPENDITURE Administration costs Salaries and National Insurance staff travel Training and recruitment other running costs 123,441 864,862 12,824 11,006 24,907 124,006 711,636 5,071 9,976 27,667 1,037,039 878,356 Surplus (31,683) 46,087 OTHER SUPPORT SERVICES INCOME Grants Other income Other expenses 301,857 183,950 320,737 198,015 Surplus (18,880) (14,065) INVESTMENT INCOME INCOME Bank interest 6,794 259 EXPENDITURE Bank charges 14,502 (8,641) Deficit (7,708) (8,382) This schedule is for information purposes only and is not subject to audit. 39
Triangle Housing Association Ltd Year Ended 31 March 2023 APPRENDIX 8- OTHER SUPPORT SERVICES Trust Housing For All Big Big Lottery Big Lottery Lottery Fund Fund Fund Brilliantly Together Green- Me for Our light Planet The Gallaher TrLfSt - PARITY project 2023 2022 Income 5,204 174,993 11,266 63,035 3,510 43,850 301,858 183,950 Salaries Travel Training Recruitment Marketing Insurance 22,168 61 20 98,490 3,628 719 6,405 31,405 4,045 492 34,975 193,443 7,734 1,602 115,639 2,183 606 206 165 16,046 311 16,357 24 1,067 2,749 27 819 24 449 Computer running costs Stationery Heat and light Telephone Rent Maintenance Office furniture/ equipment Sundry 618 iii iii 104 52 142 194 41 34 94 47 141 316 12 679 16 351 489 56 61 117 12 513 26,460 I,oii 19,673 3,510 1,362 52,529 33,460 Central costs 28,827 4,135 7,373 6,896 47,231 40,856 23,393 174,993 11,895 63,096 3,510 43,850 320,737 198,015 Surplus/Deficit (18,189) (629) (61) (18,879) (14,065) This schedule is for information purposes only and is not subject to audit. 40
Triangle Housing Association Ltd Year Ended 31 March 2023 APPENDIX 9 - SUMMARY INCOME AND EXPENDITURE ACCOUNT TRANSFERS FROM / (TO) 2023 2022 General needs account Supported living Registered unit Elderly unit Agency Development Progression to Employment Trading Floating Support Other grants Investment Disposals Charity 984,594 (242,696) 749,694 237,741 5,999 157,658 (i) (61,607) 8,697 (31,683) (18,879) (7,708) 133,002 {16,244) 37,852 194,102 (i) (72,691) (9,776) 46,087 (14,065) (8,382) 30 (20,821) Transfers from / (to) restricted funds 17,582 (130,357) 928,714 1,009,413 This schedule is for information purposes only and is not subject to audit. 41