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
SiJpwl*d Ll¢ry
iryr•ssM * EiYWOyin
Roth9 S
Ag•$1ty T*rtw￿$
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