Reg No. IP000193
Triangle Housing Association Ltd
Report and Financial Statements
For the Year Ended 31 March 2024

Contents page
Page
Board of Management and Advlsers
Report of the Board of Management
2-11
Independent AudStor's Report
12-14
Statement of Comprehenslve Income *".
15
Statement of Changes In Equlty
16
Statement of Flnanclal Posltlon
17
statement of cash flows
18
Notes to the Statement of cash flows
19-20
Notes to the flnanclal statements
21-32
Appendlces
33-42

Triangle Housing Association Ltd
Year Ended 31 March 2024
Board of Management
Mr N Dunlop
Mrs D Harshaw
Mr W Mccluggage
Mrs D McBride
Mr M Mccracken
Mrs J Mccollam
Mrs C Condren
Mr D Balmer
Mr M Dallat
Mrs A Murray
Ms N Diver
Chalrperson
Vice Chairperson
Company seC￿tarylFraud Llalson Officer
Treasurer
(Co-opted 26 June 2023)
(Resigned 26 June 2023)
{Retlred 26 June 2023)
Ms K McKenzle
Chlef Executlve
Mr C Alexander
Reglstered offlce
60 Eastermeade Gardens,
Ballymoney
Co Antrlm BT53 6BD
Reglstered under the Co-operatlve and Communlty Beneflt Socletles Act (Northern Ireland)
2016 (formerly the Industrlal and Provldent Socletles Act (Northem Ireland) 1969).
Reglstered number
IP 000193
Reglstered wlth the Charlty Commlsslon for Northern Ireland - NIC 101486
statutory Audltors
ASM (B) Ltd
Glendlnnlng House
6 Murray Street
Belfast
BTI 6DN
Bankers
Danske Bank Ltd
22 The Dlamond
Coleralne
BT52 IDA
Barclays Bank
Donegall House
Donegall Square
North Belfast
BTI 5GB
Ulster Bank Ltd
11-16 Donegall Square East
Belfast
BTI SUB
Sollcltors
Macaulay Wray
35 New Row
Coleraine
BT52 IAH
Edwards & Co
28 Hill Street
Belfast
BTI 2LA
Wllson Nesbitt
33 Hamilton Road
Bangor
BT20 4LF
Cleaver Fulton Rankln
50 Bedford Street
Belfast
BT2 7FW
Mills Selig
21 Arthur Street
Belfast
BTI 4GA
Shoosmiths
2 East Brldge Street
Belfast
BTI 3NQ

Triangle Housing Assoclatlon Ltd
Year Ended 31 March 2024
Report of the Board of Management for the year ended 31 March 2024
The Board presents its report together wlth the flnanclal statements for the year ended 31
March 2024.
f Board of
The Board of Management Is requlred by law to prepare financial statements for each flnanclal
year whlch give a true and falr view of the state of affalrs of the Association as at the end of '
the financlal year and of the surplus or deficit for that period.
The Board of Management confirms that sultable accountlng pollcles have been used and
applled conslstently and reasonable and prudent judgements and estlmates have been made
In the preparatlon of the financial statements for the perlod ended 31 March 2024. The Board
of Management also conflrms that appllcable accounting standards have been followed and
that the financial statements have been prepared on the going concern basls.
The Board of Management Is responslble for keeplng proper accountlng records, whlch
dlsclose, wlth reasonable accuracyi at any tlme the flnanclal posltlon of the Assoclatlon. It Is
also responslble for safeguardlng the assets of the Association and hence for taklng
reasonable steps for the preventlon and detection of fraud and other Irregularltles.
Trlangle Is Incorporated under the Co-operatlve and Communlty Beneflt Socletles Act
(Northern Ireland) 2016 (formerly the Industrlal and Provldent Socletles Act (Northern
Ireland) 1969) (IP000193) and Is establlshed for charltable purposes and for the publlc
beneflt. Trlangle Is a reglstered houslng assoclatlon wlth the Department for Communltles
(Reg 32). It Is a not for proflt organlsatlon and Is reglstered as a charlty wlth the Charlty
Commlsslon for Northern Ireland (NIC101486) and has charltable status wlth HMRC.
Trlangle (the Assoclatlon) provldes soclal houslngp Includlng general needs houslng;
supported houslng and care for people w5th dlsabllltSes and the elderSyi Intenslve houslng
support servlces (floatlng support) to vulnerable cllents and progresslon to employment
senlices to people who are economlcally InactSve. Durlng 2023/24, the key achievements
were:
Trlangle reluctantly Increased Its rents in Ilne wlth CPI + 1% (10. I % ) for the 2023124
year. Thls reflected the hlgh rate of inflatSon at that time. Desplte thls, rent for general
needs propertles were lower than local houslng allowances and market rents.
Trlangle completed 41 addltlonal houslng unlts In the year. At the end of the year
Trlangle had 1,442 units of accommodatlon COmpa￿d wlth 1,404 unlts the prevlous
year, We dlsposed of some properties on the open market and also some house sales
were made to slttlng tenants under the Statutory House Sales Scheme, whlch has
now ended.
Trlangle also provlded direct support and care serdlces to 160 servlce users wlth
learnlng dlsabllltles and 37 frail elderly people.
Triangle provlded homes for 284 people wlth special needs wlth support serrflces
dellvered to them by I l jolnt management partners.
In addltlon, floatlng support services were provlded to 820 people who requlred
emergency accommodatlon and support and longer-term peripatetlc support servlces.
Trlangle also provlded employment support servlces and tralnlng to 841 economlcally
Inactlve servlce users with 208 securlng employment.
Addltlonal servlce users attended employment tralnlng at Trlangle's Alternatlve Angles
soclal enterprise sites.

Trlangle Houslng Assoclation Ltd
Year Ended 31 March 2024
£289k was invested in replacing components wlthln exlsting housing stock. There are
no significant fire safety or damp and mould Issues within our stock.
Tenant satlsfactlon levels remained strongi however, satlsfaction with our repalrs
service was lower than our target. Repairs tlmeframes were also lower than planned.
We procured a new response repairs contract and a new heatlng maintenance contract
durlng the year. An improvement plan has been implemented to secure improvement
in key performance indicators In 2024/25.
The average energy performance rating of Trlangle's Stock was 77.9 at March 2024.
Updated assessments were carrled out on 125 propertles durlng the year. This
resulted in a slight decrease on the average rating due to changes in methodology and
higher energy costs. Energy performance ratings are considerably hlgher than the
average for Northern Ireland housing stock (65.83). 88.4 % of TrSangle's stock has an
energy performance band of A-C (an Increase of 1% from 2022123). Thls compares
to the NI Average of 50%. The Board has approved a Zero Carbon Strategy whlch
contalns ambltious targets to reduce the organlsatlon's carbon footprlnt signiflcantly
over the next few years.
The percentage of propertles vold but avallable for letting reduced was 3.5%. ThSs
Increased from 1,780/0 In 2022123 durlng the year. WhSlst rent arrears Increased to
5.1 %. sllghtly Increased (by 0.40/0), thls represents a good performance given the
cost-of-living challenges faced by tenants.
Triangle secured over £610k in flnanclal support for our tenants and servlce users
through Its flnancial Incluslon and floatlng support servlces.
The surplus for the year before transfers to reserves was £916,243 compared wlth a
surplus of £928,714 for the prevlous year. Trlangle employed an average of 462 staff
throughout Northern Ireland durlng the year.
Along wlth four other organisatlons, Trlangle formed a con50rt1um of supported
employment provlders (called PROSPER) and successfully secured £4.8m Sn fundlng
to deliver employment servlces to the economlcally Inactlve throughout 10 of the 11
councll areas in Northern Ireland.
Trlangle appointed a new managed cloud and IT serrflce provlder.
The accounts have been prepared In accordance with the Houslng SORP, Statement of
Recommended Practlce for Registered Soclal Houslng Provlders.
Value for Money (Vfm) In Trlangle means:
Dellverlng maxlmum value to the customer whlle mlnlmislng costs. Thls means
understandlng the customer's deflnltlon of value and focuslng on the rlght thSngs and
doing thlngs rSght.
Maklng the best use of avallable, or Ilmlted, resources. Worklng effectlvely and
efficiently whlle maSntalnlng and Improvlng the service to our customers.
Ensurlng clear correlatlon between transparent and well understood costs, and the
quallty and level of servlce provlded.
Defining value for money Is Important as Is managing and demonstrating it. Trlangle's Board
of Management, through the executlve team, leads the approach to value for money. The
Board sets the strategic directlon of the organisation and relates value for money to the
organlsatlon's vlslon and purpose. An excStlng and ambltlous new corporate strategy for the
period 2023-2026 has been adopted by the Board.
Value for money Is embedded withln the operations of the organisation uslng 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
of 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 basls and Is populated with'value, and 'money' measures
as well as coverlng the efflclency of the 'value delivery system,.

Triangle Houslng Assoclatlon Ltd
Year Ended 31 March 2024
Trlangle Identlfies four strateglc objectlves under the four themes of stakeholders, people,
finance and processes. Achleving a balance of progress agalnst the speclflc targets within
these four themes and ensuring that we remaln true to our core values should, we believe,
ensure success.
stakeholders - Improvlng lives by deliverlng excellent servlces
People - Valulng and enabllng our people to meet current and future challenges
Flnance - Creating sustalnable growth through strong financial management
Processes - Continually improvlng key organlsatlonal processes
The corporate and annual plan scorecard Is reflected In an operatlonal plan for each"
department as well as indlvidual employee scorecards monltored at regular performancel;:
revlews and annual appralsals by Managers.
More speclflc strategies have been developed around core actlvitles that lead to economlc,
efflclent and effectSve servlces. These include. a Development and Asset Management
strategyi a Treasury Strategy; a Tenant Partlclpatlon / Servlce User Partlclpatlon and
Engagement Plan; Financlal Incluslon Strategy and an Equallty Plan. The Board has consldered
Its response to the cllmate crlsls and agreed a detalled Net Zero Carbon Strategy.
Trlangle can demonstrate how value for money (Vfm) has been dellvered In the flnanclal year
2023124 and has a plan for securlng value for money Into the future. It Is a self - assessment
process undertaken by the Board of Management and senlor employees of the organlsatlon.
The organlsatlon also uses a varlety of methods to Involve tenants, serrflce users and staff In
the development of strategy and to conflrm what value for money represents from thelr
perspectlve. The organlsatlon also undertakes a natlonwlde benchmarklng exerclse wlth other
reglstered houslng assoclatlons.
Trlangle employs a range of external accredltatlon processes to assess and provlde
frameworks and recommendatlons for Improvlng Its value for money approach, Includlng:
IS09001 quallty management process. Investors in People (Sllver Award secured) and the-
Customer Servlce Excellence Award (secured).
Slnce 1977 Trlangle has been provldlng value Includlng slgnlflcant soclal value by engaglng
In the followlng actlvltles:
Bulldlng new homes.
Landlord services such as houslng management and malntenance.
Supportlng people to Ilve independently and allevlatlng homelessness. The
organisation dlrectly manages supported accommodation for people wlth learnlng
dlsabllltles and frail elderly and provldes floatlng support ser4ices to those with
emergency houslng Issues.
Community investment partlcularly worklng to increase employablllty for those
furthest from the labour market.
Partnering with other provlders of serrflces to the community conslstent wlth the value
added by Its own directly managed actlvltles.
Slgnlflcant addltlonal value is also created by Trlangle In the process of dellverlng these
activities, notably through good procurement practice. Tenants and serrflce users have always
been the primary focus for thls value. however, a significant amount of value extends to the
wlder communlty and local and natlonal government In the pursult of their policy objectives.

Trlangle Houslng Assoclatlon Ltd
Year Ended 31 March 2024
Triangle's governlng board, executives and tenants Involved In decision maklng must
recognlse and balan￿ diverse perspectives, Includlng those representing exlstlng and future
tenants. Triangle's customer base can be summarised as follows:
TRIANG_L_E
Ke
Stakeholders / Customer Grou
SN
Eurc••th So¢lol (esF>
.. IMptr•
STORS W PEUrtE' ,...
Tenants and servlce users are the ultlmate test of the value of our artivlty. The Tenant
Advlsory Group for people wlth learnlng dlsabllltles has conflrmed that It considered the
following crltlcal In securlng value for money:
values.
staff attitude;
person centred senilces.
• a safe environment.
increasing levels of independence.
The provlslon of accesslble Informatlon Is Important to them and the Tenant Advlsory Groups
have worked hard in helplng the organisation develop and produce accessible information.
Intervlews were carrled out wlth general needs tenants and these Identlfied that for them the
key drlvers In determlnlng value for money were:
l. Customer Service
2. Response Repairs
3. Staff support
4. Tenanvcommunlty engagement

Trlangle Houslng Association Ltd
Year Ended 31 March 2024
Rent levels In terms of affecting tenants, vlews of value for money was not as important
as Improvements to the response repalrs servlce,
Triangle's activitles as an organlsatlon are quite unique wlthln the houslng assoclatlon sector.
The organisatlon Is a medlum provlder of accommodatlon provlslon but a large provider of
houslng plus services to those w5th slgnlflcant houslng needs.
emo
A summary of the key Value for Money Metrics for 23124 are outllned below. Thls
represents strong buslness health:1
The operatlng margln Increased from 10.350/0 In 2023 to 11.96% In 2024. The
operating margln Is lower than other housing provSders, however, thls reflects the
hlgh proportion of supported houslng servlces we provide. The operatlng margln has
remalned very stable over the past 5 years.
Our relnvestment In exlsting homes and new homes was 7.77 % of our total asset
base. Thls compares to 7.63% In 2022/23 and Is above average for the sector.
The rate of new houslng supply dellvery (new homes completed as a proportlon of
exlstlng stock) was 2.84 % compared to 5.45% In 2022123.
Gearlng (the proportlon of borrowlng In relatlon to the slze of our asset base) was
28.1% compared to 25.8% In 2022123.
Interest cover was 1.8 tlmes agalnst our target of 1.2 tlmes (2022123 - 1.9 tlmes)
In addltlon to the above, we also dellvered the followlng key outcomes:
841 people were supported to partlclpate In employment or tralnlng and educatlon
The updated Asset Management strategy demonstrates that our houslng assets
dellver excellent net present values over a 30-year perlod.
All occupled homes meet the Decent Homes Standard.
Our tenant satlsfactlon outcomes remaln strong wlth 92 % of tenants and servlce
users satlsfled wlth the overall servlce we provlde.
Trlangle's treasury pollcy Is revlewed by the Board each year. The pollcy sets out Investment
pollcles, borrowlng pollcles and treasury management procedures. The alm Is to malntaln
sufflclent cash balances to meet flnanclal obllgatlons as they become due and mlnlmlse
Interest payments on scheme loans. At the balance sheet date of 31 March 2024 Trlangle had
total bank loans of £47,420,717 (2023: £40,237,492). Trlangle complled wlth all covenants
Imposed by Its lenders.
on
A more detalled Value for Money Report and Improvement Plan Ilnked to the Annual Business
Plan for the incomlng year wlll be establlshed in consultatlon wlth Board, staff, tenants and
servlce users. A progress report wlll be provlded wlthin the audlted accounts for 2024/25.
Summary Key
Performance Indlcators
for 2023/24
2020121
2021/22
2022123
2023124
Number of Unlts
1,205
1,337
1,404
1442
Totsl Loans
35,193,296
39,557,073
40,237,492
47,420,717

Trfangle Houslng Assoclatlon Ltd
Year Ended 31 March 2024
Gearlng Ratlo Hlstorlc Cost
27.4%
27.3 %
25.8%
28.1%
Interest Cover
3.66
2.78
1.92
Turnover
18,934,430
19,931,104
21,791,451
£23,592,931
% Rent collected
loo%
99%
97%
99%
Current Baslc Rent Arrears
0.90/0
2.6%
3.0%
% Rent Support & Care
Arrears
2.80/0
3.1%
7.5%
7.30/0
% Rent loss due to volds
3.48%
4.16 %
3.42 %
4.8%
% of Bad Debt Wrltten off
0.21%
0.06%
0.28 %
-0.11%
No of Users Floatlng Support
770
886
861
820
Floatlng Support Cost per User
£1,180*
£1,043*
£1,168*
£1,212
No of Users Progresslon to
Employment
447
514
331
421
Progress to Employment
Cost per user
£2,179*
£1,950*
£3,344*
£807*
Total volds {avallable to re-let)
3.15%
4.160/0
3.42%
3.5Wo
0/0 of Repalrs completed
wSthlntarget
90.1 %
88%
82.9 %
83.9%
New Home starts
92
84
100
75
% of Propertles Decent
Homesstandard
loo%
loo%
loo%
loo%
User
Satlsfactlon
wlth Servlces
Satlsfartion Overall
95%
98%
94%
92%
Satlsfactlon wlth Involvement
Overall
95%
950/0
93%
90%
Satlsfactlon with Repairs
66%
670/0
64%
69%

Trlangle Houslng Assoclatlon Ltd
Year Ended 31 March 2024
Summary Key
Performance Indicators
for 2023124
2020121
2021/22
2022/23
2023124
Satisfaction wlth Landlord
Services
900/0
93%
830/0
790/0
Rent Represents Value for
Money
840/0
78%
84%
80%
Satisfled - Support and Care
980/0
98%
990/0
990/0
Satlsfled - Community
Outreach Service
loo%
loo%
loo%
IOOO/o
Satisfied
Employment
Progresslon to
99%
loo%
loo%
loo%
Satlsfled
Servlce
Floating Support
loo%
loo%
loo%
loo%
No of Complalnts
25
28
27
24
No of Complalnts unresolved
Labour Turnover
11.5%
17.3%
18.90
21.8%
Staff Absence
6.15%
7.0%
7.5%
8.2%
*Based on Income, not cost
Trlangle has developed a report whlch sets out Its Envlronmental, Soclal and Governance {ESG)
activlty agalnst the SustalnablSlty Reportlng Standard for Soclal Houslng. ESG Is a framework that
helps stakeholders understand how an organSsation Is managlng rlsks and opportunltles related to
envlronmental, soclal, and governance crlterla. ESG reflects the vlew that sustalnablllty extends
beyond Just envlronmental Issues. The Sustalnablllty Reporting Standard for Soclal Housing Is
allgned to Internatlonal frameworks Includlng the Unlted Natlons, Sustalnable Development Goals
(SDG). It has 12 themes and 48 crlterla.
Trlangle's updated report for 2023/24 wlll be shared wlth Its funders and key stakeholders.
ntro
The Board of Management Is responslble for Trlangle's systems of internal financlal control
along with senlor management is responsible for establlshlng and operatlng detailed control
and reportlng procedures. The systems of Internal flnanclal control can provide only
reasonable, and not absolute, assurance agalnst material misstatement and loss.
The Board of Management has revlewed the effectiveness of the Assoclatlon's system of
Internal flnancial control. The revlew Included consideration of the buslness rlsks faclng the
Assoclatlon and of the existing Internal flnanclal control procedures. The key elements of the
control system In operation are..

rrfangle Houslng Assoclatlon Ltd
Year Ended 31 March 2024
The Board has adopted a formal schedule of matters reserved for its approval ensurlng
it malntalns responslbillty for overall strategy, approval of all property transactions
and other major capital expendlture projects.
There Is an organisatlon structure with clearly deflned Ilnes of responslblllty and
delegatlon of authority.
Detailed budgets are prepared covering the Assoclatlon's buslnesses whlch are
reviewed and approved by the Board. Actual results are compared against budget and
appropriate action identified and InitSated.
The Audlt and Rlsk Committee revlews matters relating to internal control and re￿IVeS
reports on a regular basls from the external and internal auditors and from the
Executlve Management team.
Triangle's objective is to identlfy and manage those rlsks whlch are Ilkely to occur and
If they dld, would have a significant impact on the organisation. Triangle uses risk
management techniques in all aspects of Sts operations and Integrates rlsk
management as part of Its culture. Triangle identlfles, prloritises and assesses the
rlsks It Is subject to, as and when a rlsk emerges. It Implements procedures to control
and monltor rlsk. Trlangle formally revlews Its rlsk reglster quarterly.
After maklng enqulrles, the Board of Management has a reasonable expectatlon that Trlangle
has adequate resources to contlnue In operatlonal exlstence for the foreseeable future and
for thls reason It contlnues to adopt the golng concern basls In preparlng the flnanclal
statements.
It Is the oplnlon of the Board of Management that Trlangle Is In compllance wlth Best Practlce
Issued by the NHF Code of Governance. The Board of Management meets regularly throughout
the year. There are slx commlttees, namely Flnance; Houslng and Development; Audlt and
Rlsk; Organlsatlonal Development and Communlcatlons.
Support
Servlces. and
Remuneratlon. All Commlttees meet regularly throughout the year.
The Flnance Committee has responslbllity for flnance and IT. The Houslng and Development
Commlttee has speclflc responslbSlltles for development and housSng management Including
malntenance and floatlng support servlces. The Audlt and Rlsk Commlttee has responslblllty
for Internal and external audlt, rSsk management and fraud.A professlonal Independent person
attends thls commlttee and advlses and supports the Board on Its performance. The
OrganSsatlonal Development and Communlcatlons Commlttee has the remlt for human
resources, organlsation development, learnlng and development, corporate services and
communicatlons. The Support Seniices CommSttee has the responslblllty for supported Ilvlng,
and progresslon to employment services. The Remuneratlon Committee has responslblllty for
overseelng the organlsatlon's remuneration pollcies for all paid staff wlth partlcular
responslblllty for keeplng under revSew the terms and condltions of the Chlef Executlve Officer
and other Executive Management Team members.
Each member of the Board of Management Ilsted on page I holds a fully paid share of £1 In
the Assoclatlon and no flnanclal beneflt Is derived from such membership. Executlve offlcers
of Trlangle hold no interest In the Assoclatlon's share capltal and, although not holding the
legal status of dlrectors, they act as executives wSthln the authorlty delegated by the Board.

Trlangle Housing Assoclatlon Ltd
Year Ended 31 March 2024
Board members do not recelve any remuneration, only expenses In relatlon to travel
allowances and Incldental expenses Incurred In the course of their duty. Gross expenses pald
to the members for the year amounted to £2,543 (2023: £1,772)
Chlef Executlve Officer and Directors recelve remuneration agreed by the Remuneratlon
Commlttee annually. Trlangle makes an employer's penslon contributlon of either 6 % or 7.5 %
to all staff through a deflned contrlbution personal penslon plan. No other speclal terms exist.
Chief Executlve Offlcer and Directors, remuneratlon excludlng pension contributions were as
follows:
2024
2023
No.
£80k-£85k
£85k-£90k
£90k-£95k
£95k-£IOOk
£IOOk-£105k
£105-£IIOK
£110-£115K
The audltors have conflrmed that In thelr oplnlon, wlth respect to the Board's statements
on Internal flnanclal control and golng concern above, the members have provlded the
dlsclosures requlred by the Code and such statements are not Inconslstent wlth the
Informatlon of whlch they are aware from thelr audlt work on the flnanclal statements, and
that the Board's statement on pages 2 to 11 approprlately reflects the Assoclatlon's
compllance wlth the other paragraphs of the Code.
They have carrled out thelr revlew In accordance wlth the relevant Bulletln Issued by the
Audltlng Practlces Board, whlch does not requlre them to perform any addltlonal work
necessary to express a separate oplnlon on the effectlveness of elther the Assoclatlon's
system of Internal flnanclal control or corporate governance procedures, or on the ablllty
of Trlangle to contlnue In operatlonal exlstence.
Trlangle has a charltable glvlng commlttee and made charltable donatlons durlng the year
of £12,607 (2023: £17,176).
10

ent Au
The current auditors, ASM {B) Ltd, Chartered Accountants, have indicated a wllllngness to
continue in offlce.
A resolutlon to reappoint ASM (B) Ltd, Chartered Accountants, wlll be proposed at the
Annual General Meeting.
By Order of the board
N Dunlop
Chalr
24 June 2024
11

Independent Auditor's Report
Oplnlon
We have audlted the flnancial statements of Trlangle Houslng Association Llmlted for the
year ended 31 March 2024 whlch comprises the statement of comprehenslve income, the
statement of changes in reserves, the statement of financial positlon, the statement of
cash flows and the related notes to the financial statements, Includlng a summary of
slgnlflcant accountlng policies. The financlal reportlng framework that has been applled In
thelr preparation is applicable law and United Kingdom Accountlng Standards, Including
Flnanclal Reporting Standard 102 - The Financial Reportlng Standard appllcable In the UK
and Republlc of Ireland (Unlted Klngdom Generally Accepted Accountlng Practlce) and the
Houslng SORP - Statement of Recommended Practlce for social houslng provlders Issued
by the Natlonal Houslng Federation.
In our oplnion the financlal statements:
glve a true and falr view of the state of the Assoclatlon's affalrs as at 31 March 2024
and of Its surplus for the year then ended.
have been properly prepared sn accordance wlth Unlted Klngdom Generally Accepted
Accountlng Practlce; and have been properly prepared In accordance with the
requlrements of the Co-operatlve and Communlty Beneflt Socletles Act (Northern
Ireland) 2016 (formerly the Industrlal and Provldent Socletles Act (Northern Ireland)
1969).
Basls of oplnlon
We conducted our audlt In accordance wlth Internatlonal Standards on Audltlng (UK) (ISAS
UK)) and appllcable law. Our responslbllltles under those standards are further descrlbed
In the Audltor's responslbllltles for the audlt of the flnanclal statements sectlon of our
report. We are Independent of the Assoclatlon In accordance wlth the ethlcal requlrements
that are relevant to our audlt of the flnanclal statements In the UK, Includlng the FRC'S
Ethlcal Standard, and we have fulfllled our other ethlcal responslbllltles In accordance wlth
those requlrements. We belleve that the audlt evldence we have obtalned Is sufflclent and
approprlate to provlde a basls for our oplnlon.
Concluslons relatlng to golng concern
We have nothlng to report In respect of the followlng matters In relatlon to whlch the ISAS
(UK) requlre us to report to you where:
the Board of Management's use of the golng concern basls of accountlng in the
preparatlon of the flnancial statements Is not approprlate. or
the Board of Management have not dlsclosed In the ilnanclal statements any
,identified materlal uncertainties that may cast slgnlflcant doubt about the
.'Assoclation's ablllty to contlnue to adopt the going concern basls of accountlng for
. a perlod of at least twelve months from the date when the financlal statements are
. authorlsed for Issue.
12

other Informatlon
The other Information comprises the informatlon Included in the Report of the Board of
Management other than the flnanclal statements and our auditorfs report thereon. The
Board of Management is responsible for the other Information. Our opinion on the financlal
statements does not cover the other information and, except to the extent otherwise
explicitly stated Sn our report, we do not express any form of assurance conclusion thereon.
In connectlon with our audlt of the flnancial statements, our responslblllty Is to read the
other infonnatlon and, In so dolng, conslder whether the other Information Is materlally
Inconsistent wSth the financlal statements or our knowledge obtalned In the audit or
otherwise appears to be materially misstated. If we identify such material inconsistencles
or apparent material mlsstatements, we are requlred to determlne whether there Is
materlal misstatement In the flnancial statements or a materlal mlsstatement of the other
Informatlon. If, based on the work we have perfor￿Ed, we conclude that there is a materlal
mlsstatement of thls other informatlon, we are required to report that fact.
Oplnlon on other matters prescrlbed by the Companles Act
In our oplnlon, based on the work undertaken In the course of the audlt:
the Informatlon glven In the Report of the Board of Management for the financlal
year for whlch the flnanclal statements are prepared Is conslstent wlth the flnanclal
statements. and
the Report of the Board of Management has been prepared In accordance wlth
appllcable legal requlrements.
Matters on whlch we are requlred to report by exceptlon
In the Ilght of the knowledge and understandlng of the AssocSatlon and Its environment
obtalned In the course of the audit, we have not Identified materlal misstatements In the
Report of the Board of Management.
We have nothlng to report In respect of the followlng matters In relatlon to whlch the
Companles Act 2006 requ1￿$ us to report to you If, In our oplnion:
adequate accountlng records have not been kept, or returns adequate for our audlt
have not been recelved from branche5 not visited by us. or
the flnanclal statements are not In agreement wlth the accountlng records and
returns. or
we have not received all the Inft)rmation and explanatlons we requlre for our audlt.
Responslbllltles of the board of management
As explalned more fully In the Board of Management responslbilitles statement the Board
of Management Is responslble for the preparation of the financial statements and for being
satlsfled that they glve a true and fair vSew, 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 preparlng the flnancial statements, the Board of Management Is responslble for
assesslng the Association's abillty to contlnue as a going concern, disclosing, as applicable,
matters related to going concern and using the golng concern basls of accountingi unless
the Board of Management either intend to cease operations, or have no realistic alternative but
to do so.
13

Trlangle Houslng Association Ltd
Year Ended 31 March 2024
Independent Auditor's Report (cont'd)
Auditor's responslbllltles for the audlt of the financial statements
Our objectives are to obtaln reasonable assuran￿ al)out whether the financial statements
as a whole are free from materlal mSsstatement, whether due to fraud or error, and to
Issue an audltor's report that includes our oplnlon. Reasonable assurance Is a hlgh level of
assurance but Is not a guarantee that an audit conducted In accordance wlth ISAS (UK)
will always detect a materlal mlsstatement when it exlsts.
Misstatements can arlse from fraud or error and are consldered materlal If, Indlvldually or
In aggregate, they could reasonably be expected to Influence the economlc declslons of
users taken on the basls of these flnanclal statements.
Irregularlties, includlng fraud, are Instances of non-compllance wlth laws and regulatlons.
We deslgn procedures in line wlth our responslbllltles, outllned above, to detect material
mlsstatements In respect of irregularities, includlng fraud. The extent to which our
procedures are capable of detectlng irregularltles, Includlng fraud Is detalled below:
We consldered the opportunltles and Incentlves that may exlst wlthln the
organisatlon for fraud and Identlfled the greatest potentlal for fraud In the followlng
areas.. tlmlng of recognltlon of Income, and postlng of unusual Journals along wlth
complex transactlons. We dlscussed these rlsks wlth cllent management, deslgned
audlt Pro￿dureS to test the tSmlng of Income, tested a sample of Journals to conflrm
they were approprlate and revlewed areas of Judgement for Indlcators of
management blas to address these rlsks.
A further descrlptlon of our responslbllltles for the audlt of the flnanclal statements Is
located
on
the
FlnancSal
Reportlng
Councll's
webslte
at
. Thls descrlptlon forms part of our audltors, report.
Use of our report
Thls report Is made solely to the Board of Management, In accordance wlth Artlcle 38 of
the Co-operatlve and Communlty Beneflt Socletles Act (Northern Ireland) 2016 (formerly
the Industrlal and Provldent Socletles Act (Northern Ireland) 1969). Our audlt work has
been undertaken so that we mlght state to the Board of Management those matters that
we are requlred to state to them In an audltors, report and for no other purpose. To the
fullest extent permltted by law, we do not accept or assume responslblllty to anyone other
than the Soclety and the Board of Management, for our audlt work, for thls report, or for
the oplnlon we have formed.
B Clerkln (Senior Statutory Audltor)
for and on behalf of ASM (B) Ltd
statutory Auditor
Glendlnnlng House
6 Murray Street
Belfast
BTI 6DN
24 June 2024
14

statement of Comprehensive Income
For the year ended 31 March 2024
Notes
2024
2023
Turnover
23,592,931
21,791,451
Operatlng costs
3 (20,770,329)
{19,535,399)
Operatlng surplus / (deflclt)
2,822,602
2,256,052
Galn / (loss) on dlsposal of fixed assets
15,339
133,002
Interest and flnanclng Income / (costs)
(1,903,256)
(1,444,096)
Transfer to charlty fund
(18,442)
(16,244)
Surplus / (deflclt) before tax
916,243
928,714
Taxatlon
Surplus / (deflclt) after tax
916,243
928,714
other comprehenslve Income
Unreallsed surplus / (deficlt) on revaluatlon of
houslng propertles
Total comprehenslve Income for the year
916,243
928,714
The notes on pages 21 to 32 form part of these flnanclal statements.
15

statement of Flnanclal Posltlon
As at 31 March 2024
Notes
2024
2023
(RESTATED)
Flxed assets
Houslng properties
other tanglble fixed assets
10
151.862,222
2,589,465
140,594,996
2,469,074
12
154,451,687
143,064,070
Current assets
Trade and other debtors
13
5,915,961
1,673,324
6,463,152
685,657
Cash and cash equivalents
7,589,285
7,148,809
Less.. Creditors: amounts falllng due
wlthln one year
Net current assets / Ilabllltles
14
(8,193,929)
(10,726,128)
(604,644)
(3,577,319)
139,486,751
Total assets less current Ilabllltles
153,847,043
CredStors: amounts falllng due after
more than one year
14
(137,294,105)
{123,850,057)
Total net assets
16,552,938
15,636,694
Reserves
Share capltal
Revenue reserve
20
30
16,552,836
72
31
15,636,593
70
Capltal reserve
Restated Deslgnated reserve
Total reserves
21
22
16,552,938
15,636,694
These flnanclal statements were approved by the Board of Management and authorlsed for
Issue on 24 June 2024 and slgned on Its behalf by:
*4
N Dunlop
Chairperson
D Harshaw
Vlce Chairperson
Mccluggage
Secretary
The notes on pages 21 to 32 form part of these financlal statements.
17

statement of Cash Flows,
For the year ended 31 March 2024
Notes
2024
2023,
Net cash Inflow / outflow from operatlng
activities
Returns on investments and servlclng of
flnance
,Capltal expendlture and flnanclal investment
2,347,282
2,851,118
(1,903,257)
-,(1,429,594)
(6,639,584)
(2,610,378)
-cash inflow / outflow before use of liquid
resources and flnancing
(6,195,559)
(1,188,854)
Flnanclng
7,183.226
680,423,:
987.667
(508,431)
Reconclllatlon of net cash flow
Increase / (decrease) In cash In perlod
-cash and bank at l Aprll 2023
Cash and bank at 31 March 2024
987,667~.-
685,657
1,673,324
The notes on pages 21 to 32 form part of these flnanclal statements.
18

Notes to Statement of Cash Flows
For the year ended 31 March 2024
A. Reconclllatlon of operatlng surplus / (deflclt) to operatlng cashflows
2024
2023
Operatlng surplus / deflclt
Depreclatlon
Transfers
Amortlsatlon of grant
HAG ellminated
2,822,602
2,274,262
18,442
(1,484,551)
(269,590)
2,256,052
2,090,493
16,244
(1,394,414)
(220,356)
Movements In:
Debtors
(206,552)
(807,331)
(779,158)
882,257
Credltors less than one year
2,347,282
2,851,118
B. Analysls of cash flows for headlngs netted In the cash flow ststement
Returns on Investment and servlclng of
flnance
Interest recelved
27,892
(1,931,149)
6,754
(1,436,388)
Interest payable
Net cash Inflow / (outflow) for retums on
nvestment and servlclng of flnance
(1,903,257)
(1,429,594)
Capltal expendlture and flnanclal Investment
Other flxed assets
Houslngi land and bulldlngs
Capltal grant recelved
Sales proceeds
Net cash Inflow / (outflow) for capltal expendlture
and flnanclal Investment
(208,926)
(13,875,703)
7,059,117
385,928
(6,639.584)
(11,460)
(11,556,572)
8,411,685
546,269
(2,610,378)
Flnanclng
Loan prlncipal repayments
Drawdowns
5,883,225
1,300,000
{319,580)
1,000,000
Share capltal issued
Net cash Inflow / (ouffiow) from flnanclng
7,183.226
680,423
19

Notes to Statement of Cash Flows (cont'd)
For the year ended 31 March 2024
C. Analysis of changes In net funds
At
31103123
other
Changes
At
31/03124
Cashflows
Cash in hand and at
' bank
Debt due wlthln one year
685,656
987,667-
1,673,324
(688,097)
(168,772)
(856,869)
Debt due after more than
one year
(39,549,395)
(7,014,453)
(46,563,848)
(39,551,837)
(6,195,558)
(45,747,393)
20

Notes to the flnanclal statements
l. Legal status
Trlangle Houslng Association Ltd Is a houslng assoclation reglstered 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,
Ballymoneyi Co Antrlm, BT53 6BD.
2. Accountlng Pollcles
2.1 Basls of accountlng
These flnanclal statements have been p￿Pared In accordance with Flnanclal Reportlng
standard 102 'The Financlal Reportlng Standard Applicable Sn the UK and Republlc of
Ireland, and the Statement of Recommended Practlce ("SORP") for Reglstered Soclal
Houslng Provlders.
The financlal statements are presented In Sterllng (£), whlch Is the functlonal currency of
the AssocSatlon.
2.2 Revenue recognltlon
Revenue Is recognised when the Assoclatlon has entltlement to the funds and It Is probable
that the Income wlll be received and the amount Is reliably measured.
Turnover Includes rental and seniice charge Income, rates recelvable and resldentlal
charges, net of voids, and release of Soclal Houslng Grants.
2.3 Government and other grants
Soclal houslng grand (SHG) or Houslng Associatlon Grant (HAG) Is recelvable from the
Northern Ireland Houslng Executlve (NIHE) and Is recognlsed In Income over the useful
Ilfe of the houslng property structure under the accruals model. SHG/HAG due Is Included
as a current asset. SHG/HAG recelved In advance Is Included as a Ilablllty.
SHG/HAG receSved In respect of revenue expendlture Is credlted to the Income and
expenditure account In the same perlod as the expenditure to whlch It relates.
SHG/HAG released on sale of a property may be repayable but Is normally avallable to be
recycled and Is credlted to the Dlsposal Proceeds Fund and Included In the Statement of
Flnanclal Posltlon wlthln Credltors.
21

2.4 Tanglble flxed assets
Houslng properties.
Houslng stock Is properties held for the provlslon of soclal houslng or to otherwlse provlde
soclal beneflt and are accounted for wlthSn tanglble flxed assets. Houslng propertles are
prlnclpally avallable for rent and are stated at cost less accumulated depreclatlon and any
accumulated Impairment losses. Cost Includes the cost of acqulrlng land and bulldlngs,
together wlth development costs.
Works to existing propertles whlch replace a component that has been treated separately
for depreciatlon purposes, along wlth those works that result in an increase In net rental
Income over the Ilves of the propertles, thereby enhanclng the economlc beneflts of the
assets, are capltallsed as Improvements.
Depreclatlon of Houslng propertles
The Assoclatlon separately Identlfles the major components whlch comprlse Its houslng
propertles, and charges depreclatlon, so as to wrlte-down the cost of each component to
Its estlmated resldual value, on a stralght Ilne basls, over Its estlmated useful Ilfe.
The Assoclatlon depreclates the major components of Its houslng propertles over the
followlng useful Ilves:
Structure
100 years
Roofs - 70 years
Wlndows and doors - 25 years
Bathrooms - 20 years
Mechanlcal systems - 35 years
Gas bollers/flues - 15 years
Kltchens - 17 years
Electrlcs
35 years
Houslng under constructlon Is not depreclated and no depreclatlon Is charged on the cost
of land.
Depreclatlon of other tanglble flxed assets
For other tanglble flxed assets, depreclatlon Is charged on a stralght-llne basls over the
expected useful Ilves of the assets to wrlte off the cost, less estimated residual values over
the followlng expected Ilves:
Office equipment.- 3 to 5 years
Scheme assets - 10 yearsi
Offlce premlses - 25 years
Retail Unit- 25 years
22

2.5 Impalrment
Housing properties are assessed annually for Impalrment 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 serrfice potential. The resultlng
Impairment loss Is recognlsed as expenditure in income and expenditure. Where an asset
is currently deemed not to be providing service potential to the assoclation, its recoverable
amount is its fair value less costs to sell.
Other assets are revlewed for Impairment if there Is an Indlcatlon that impairment may
have occurred.
2.6 Employee beneflts
Deflned Contrlbutlon Penslon
The Assoclatlon operates a deflned contrlbutlon scheme for certaln employees. A deflned
contribution plan Ss a penslon plan under whlch the Assoclatlon pays flxed contributlons
Into a separate entlty. Once the contrlbutlons have been pald the Assoclation has no
further payment obllgatlons.
The contrlbutlons are recognised as an expense when they are due. Amounts not pald are
included as accruals In the Statement of Financlal Posltlon. The assets of the plan are held
separately from the Assoclatlon In Independently admlnlstered funds.
2.7 Tenants. Servlces Fund
For certaln schemes the Assoclatlon Is requlred to charge to the tenants an addltlonal
amount to fund the cost of common faclllties. Annual surpluses or deflclts are transferred
to the Tenants, Servlces Fund to equallse the flnanclal positlon over the Ilfetlme of the
scheme.
2.8 Dlsposal Proceeds Fund
The net surpluses, after loan repayments, that arise from the sale of property to tenants
under the voluntary purchase grant arrangements, InstStuted by the Department for
Communltles, can be utilised by the Assoclation. If the surpluses are not used wlthln two
years of thelr recelpt they may be payable in part or In full to the Department for
Communitles.
2.9 Income tax
The Assoclation Is accepted as a charlty by the HMRC. Income and capltal galns of the
Association are generally exempt from tax if applied for charitable purposes.
2.10 Value Added Tax
The Assoclatlon Is not registered for VAT. All of Its Income, Includlng rental recelpts, Is
exempt for VAT purposes.
23

2.11 Flnanclal Instruments
The Assoclatlon only has financial assets and flnanclal Ilabllltles of a klnd that quallfy as
baslc flnanclal Instruments. Basic financial instruments are Inltlally recognlsed at
transactlon value and subsequently measured at thelr settlement value.
2.12 Judgements in applying accountlng pollcles and key sources of
estlmation uncertainty
No judgments have been made In the process of applylng the above accounting policies
(apart from those Involvlng estlmates). There were no key assumptlons made concernlng
the future and other key sources of estlmatlon uncertainty at the reporting date that have
a significant risk of causlng a materlal adjustment to the carrying amounts of assets and
liabilities within the next flnanclal year.
2.13 Golng concern
/)
After maklng approprlate enqulres, the Board of Management has a reasonable
expectatlon that the Assoclatlon has adequate resources to contlnue In operatlonal
exlstence for the foreseeable future. For thls reason, It contlnues to adopt the golng
concern basls In the flnancial statements.
2.14 Operatlng surplus/{deflclt):
The operatlng surplus/(deflclt) on the statement of comprehenslve Income Includes the
prlnclpal surplus/(deflclt) from revenue produclng actlvltles less operatlng costs of the
Assoclatlon and other actlvltles that are not Investlng or flnanclng actlvltles.
The Assoclatlon excludes galns/ (losses) on other flxed assets (non-soclal houslng assets),
Interest recelvable and loan Interest payable from the operatlng surplus/ (deflclt).
Turnover, Operatlng costs and operatlng surplus
2024
2023
Operatlng
Surplus/
(deflclt)
'.Operatlng
Surplus/
(deflclt)
Operatlng
Turnover
Oper•tlng
Costs
Soclal Houslng Actlvltles
(Note 4)
20.735,883
17,790,653
2,945,230
2,359,525
Non-soclal Houslng Actlvltles
(Note 5)
2,857,048
2,979,676
(122,628)".
(103,473)
23,592,931
20,770,329
2,822,602
2,256,052
24

O￿Or•4￿¢￿￿rnLn
i Ln Iri
T4in Nin In
Thi (Ni ri
)COO)¢J￿￿O)o
rn￿0)￿
t W> Lfi
cnfL*
a)A Inio
ko CO￿ u)
a)Thi ION pl
aithoth*plQ)
00￿£0(0￿coN0(nt
I£)0￿￿Oi￿J￿I
¢) in f
i Tr4
o)m

Trlangle Houslng Association Ltd
Year Ended 31 March 2024
4. Turnover, operating costs and operatlng surplus/ (deflclt) from social
houslngactlvities (cont'd)
Dfc Allowances
2024
2023-
Management allowances
Management costs
Surplus/ (deflclt)
283,932
{982,464)
(698,532)
282,348
(549,544)
(267,196)
Maintenance allowances
Planned, cyclical and reactive malntenance I
Surplus/ (deflclt)
332,688
(801,774)
(469,086)
330,832
(687,836)
(357,004)
Technlcal & Non-Technlcal Income
2024
2023;
Technlcal
Non-Technlcal
Total
3,797,351
4,089,686
7,887,037
3,487,757
3,365,031
6,852,788
5. Turnover, operatlng costs and operatlng surplus/(deflclt) from non-
soclalhouslng actlvltles
2024
2023
Operatlng Income
Development admlnlstratlon
Supported Employment
Floatlng Support servlces
Speclal Recognltlon Payment
Tradlng
Other grants
382,808
1,099,028
993,789
486,591
1,106,936
1,005,356
28,778
352,645
58,457
301,858
Total Non-soclal Houslng Income
Operatlng Costs
Development admlnistratlon
Supported Employment management costs
Floatlng Support costs
Tradlng
Other grants costs
382,808
1,138,633
1,095,987
9,603
352,645
486,592
1,168,543
1,037,039
49,760
320,737
Total Non-soclal Houslng Expenditure
Operating surplus/(deflclt) on non-soclal houslng
Other Grants
2024
2023
Trust
Housing For All
Blg Lottery Fund Greenllght
Blg Lottery Fund - Brilliantly Me
Blg Lottery Fund Together for Our Planet
The Gallaher Trust - PARITY project
3,769
332,437
5,204
174,993
11,266
63,035
3,510
Total Grants
26

Triangle Housing Assoclatlon Ltd
Year Ended 31 March 2024
6. Surplus on ordinary actlvltles
Surplus on ordlnary activities is stated after charging/ (crediting):
2024
2023
Depreclatlon owned tanglble fixed assets
Amortlsatlon of grant l Release of capltal grant
2.274,262
(1,484,551)
2,090,493
(1,394,414)
Audltor's remuneratlon
External audlt of these flnanclal statements
Internal audlt
16,800
22,280
16,800
24,544
7. Interest payable
2024
2023
Houslng property loan Interest
Bank Interest and charges
1.917.592
1,436,388
8. Employee Informatlon
Average monthly number of employees durlng the financlal year expressed as full-tlme
equlvalents Is as follows:
2024
2023
No.
Admlnlstratlon
Houslngi SUPPOrt, development and care
91
371
462
84
396
480
2024
2023
Wages and salarles
Soclal securlty costs
Penslon costs
Agency staff
11.266,253
992.531
657,597
1,281,594
14,197,975
10,922,408
984,513
640,033
814,593
13,361,547
Durlng the year 4 employees (2023: 6) recelved termlnatlon payments of £20,345 (2023:
£27,996). £NII was outstandlng at the year-end (2023: £Nil).
The aggregate remuneratlon of key management personnel of the Assoclatlon durlng the year was:
2024
2023
Aggregate emoluments payable to key management
(Includlng penslon contributlons and beneflts In klnd)
483,992
477,462
Emoluments payable to the hlghest pald d1￿ctOr (excludlng
penslon contributions but includlng benefits In kind)
110,283
106,667
27

Trlangle Housing Assoclatlon Ltd
Year Ended 31 March 2024
The number of management personnel to whom emoluments (excludlng penslon
contrlbutions) were paid durlng the year falls within each of the followlng bands:
2024
2023
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
110,000 - 115,000
Board of Management remuneratlon
There was no remuneratlon pald to the Board members of the Assoclatlon (2023: £nll).
Board members were pald out of pocket expenses totalllng £2,543 (2023: £1,772).
10. Tanglble flxed assets - Houslng propertles
Hou$lng
propertles
held for lettlng
Cost or valuatlon
At l Aprll 2023
Addltlons
DSsposals
At 31 March 2024
Completed
Work In progress
155,728,810
13,875,703
(761,356)
168,843,157
148,065,325
20,777,832
Depreclatlon and Impalrment
At l Aprll 2023
Charge for the year
Impairment charged In year
Eliminated on dlsposal
At 31 March 2024
15,133,814
2,185,727
(338,606)
16,980,935
Net book value
At 31 March 2024
At 31 March 2023
151,682,222
140,594,996
28

Trlangle Houslng Association Ltd
Year Ended 31 March 2024
11. Houslng Stock
Number of uni
ear en
Self-contalned
2024
Propertles
717
156
176
2023
Properties
713
163
141
General Needs Housing
Supported HousSng
Sheltered Housing
Shared Ownership / Affordable Houslng
Private rented
1,050
1,018
Non Self-contalned
2024
Bed
spacas
2023
spaces
General Needs Housing
Supported Houslng
Sheltered Houslng
392
386
392
386
Total Unlts Owned and Managed at year end
1,442
1,404
12. Other tanglble flxed assets
Offlce
premlseg
Scheme
assets
Offlce
equlpment
Retall
Unlt
Total
Cost or valuatlon
At l April 2023
Addltions
Dlsposals
At 31 March 2024
2,829,114
161,910
560,056
9,848
3,551,080
208,926
199,078
2,829,114
161,910
569,904
199,078
3,760,006
Depreclation
At l Aprll 2023
Charge for the year
Ellmlnated on
disposal
At 31 March 2024
455,157
46,538
83,739
16,190
543,110
17,842
1,082,006
88,535
7,965
501,695
99,929
560,952
7,965
1,170,541
Net book value
At 31 March 2024
At 31 March 2023
1327,419
2,373,957
61,981
78,171
8,952
16,946
191,113
2,589,465
2,469,074
29

Trlangle Houslng Association Ltd
Year Ended 31 March 2024
13. Debtors
2024
2023
Gross rental debtors Technlcal
, Gross ￿ntaI debtors - Non-Technlcal
Provlslon for bad debt
' Net rental debtors
Housing Associatlon Grant recelvable
Prepayments and accrued Income
Tenants, Servlces Fund
Other debtors
1,411,407
143,343
(9,609)
I,S45,141
3,306.068 .
377,754-_
103.999
582,999
5,915,961
1,421,734
164,786
(28,266)
1,558,254
4,059,811
389,985
43,215
411,887
6,463,152
Ip
14. Creditors
2024
2023
Restated
Loans (see analysls below)
Houslng Assoclatlon Grant In advance.
Deferred Houslng Assoclatlon Grant (Note 15)
' Dlsposal Proceeds Fund
-. Accruals and deferred Income
Rent and servlce charges recelved In advance
, Charlty fund
' Resldents, funds
other credltors
856,869
3,016,117
1,484,551
330,655
875,052
160,210
30,558
24,943
1,414,974
8,193,929
688,097
4,999,894
1,394,414
294,321",-
1,249,515
291,395
25,223
24,916
1,758,353
10,726,128
IA
li
2024
2023
Loans (see analysis below)
Deferred Houslng Assoclatlon Grant (Note 15)
46,563,848
90,730,257
137,294,105
39,549,395
84,300,662
123,850,057
2024
2023
Wlthln one year
Between one and two years
Between two and flve years
In flve years or more
856,869
996,573
8,749,812
36,817,463
47,420,717
627,708
699,475
12,820,896
26,089,413
40,237,492
30

Trlangle Houslng Association Ltd
Year Ended 31 March 2024
14. Credltors (cont'd)
Houslng loans are secured by specific charges on the associatlon's properties and are ￿Payable at varylng
rates of interest and terms. some of which extend up to 13 or 23 years. The association had total loan
facilities of £48,620,717 at the 31st March 2024 of which £47,420,717 was drawn. 72.3Wo of the loan
portfolio was at fixed rates of interest for their term.
Included wlthln Accruals and Deferred Income for 2023 Is £129.359 of fundlng from Supporting People
from NIHE which has been restated and not within Restricted Reserves in 2023. Supportlng People (NIHE)
requested thls fundlng be repald and not be held In the restricted reserve.
15. Deferred grant
2024
2023
At l Aprll
Grant recelved In the year
Released to Income In the year
Transfer from Dlsposal Proceeds Fund
Ellmlnated on component dlsposals
Ellmlnated on houslng unlt dlsposals
At 31 March
85,695,076
8,455,413
(1,484,551)
(181,540)
(248,488)
(21,102)
92,214,808
81,026,447
6,283,399
(1,394,414)
{220,356)
85,695,076
16. Capltal commltments
At 31 March 2024 the Assoclatlon had capltal commltments as follows..
2024
2023
Contracted for but not provlded In the flnanclal statements
Expendlture authorlsed by the Board of Management, but
not contracted
19,307,072
19,077,917
19,307,072
19,077,917
17. Contlngent Llabllltles
In
The Associatlon released Soclal Houslng GrantlHouslng Assoclatlon Grant durlng the year In
relatlon to bulldlng components replaced. The posslblllty of reimbursement to the Department
for Communltles Is consldered to be unllkely as the houslng propertles are expected to contlnue
to be made avallable for soclal houslng for the foreseeable future.
The Assoclatlon has a contlngent Ilablllty In relatlon to a potentlal Ilabllity for hollday pay on
overtSme payments. Trlangle has been paylng holiday pay on overtlme payments slnce 2015
when the regulatlons were IntrodU￿d however the PSNI case 5ntroduces the potentlal that
payments could be back dated further. There are a number of un￿rtaIntleS In relatlon to calculatlng
a reliable estlmate Including: the perlod to be covered. consideratlon as to what is deemed
regularlroutlne overtlme; and the Identlflcation and potentlal Incluslon of other allowances. A
rellable estlmate cannot be made at thls stage.
18. Pension Commltments
DefSn
ri
Ions
The Assoclatlon operates a defined penslon contrlbutlon scheme. The assets of the scheme are
31

Trlangle Houslng Association Ltd
Year Ended 31 March 2024
held separately from the Association in an Independently admlnlstered fund. The Assoclatlon
pald contrlbutlons durlng the year amountlng to £657,596 (2023: £640,033). Contrlbutlons
outstandlng at 31 March 2024 amounted to £86,143 (2023: £81,084).
19. Leasing commltments
eratin
leas
The total of the Association's future mlnlmum lease payments under non-cancellable
operatlng leases was:
2024
2023
4., 4 Wlthln one year
Between one and five years a '.
In flve years or more
60,161
59,439
26,292
60,161
85,731
20. Share capltal
Ordlnary shares of £1 each fully pald:
2024
2023
At l Aprll
Issued In the year
Transferred to capltal reserves
At 31 March
31
29
(2)
30
(1>
31
21. Capltal reserves
2024
At l Aprll
Transferred to I from share capltal
At 31 March
70
69
72
70
22. Restrlcted reserves { Restated)
2024
2023
At l Aprll
Transferred to / from revenue reserrfes,
At 31 March
111,777
(111,777)
Included wlthln Restrlcted Reserves as at 31 March 2023 was £129,359 of Supportlng People fundlng from
NIHE, that Included £111,777 reserves brought forward and £17,582 that was transferred in during the year.
Supportlng People (NIHE) requested this fundlng be repald and not be held In the restrltted reserve,
therefore this has been restated as a credltor and Included within Accruals and Deferred Income In 2023.
23. Related party transactlons
Durlng the year the Assoclatlon had no transactlons wlth related parties.
32

Trlangle Houslng Assoclation Ltd
Year Ended 31 March 2024
APPENDIX I - GENERAL NEEDS HOUSING
2024
2023
INCOME
Rent and seniice charges
Rates receivable
SHG released
Volds
5,193,219
694,134
1,088,154
(221,857)
4,414,683
614,875
995,253
(103,267)
6,753,650
5,921,544
EXPENDITURE
Admlnlstratlon costs
Insurance
Heat and Ilght
Bad debts
other runnlng expenses
Rates payable
Rates dlscount
Repalrs - routlne
Repalrs - planned and cycllcal
Repalrs - admlnlstratlon costs
Dlsposals
Depreclatlon of propertles
Depreclatlon other
Interest
809,519
116,761
71,890
(11,108)
382,186
675,136
(71,927)
423,948
377,826
172,945
18,630
1,573,849
1,660
1,658,443
452,808
87,931
54,041
18,570
389,746
641,922
(68,537)
405,328
282,585
96,737
1,488,676
1,962
1,242,497
6,199,758
553,892
5,094,266
Surplus / (deflclt) before transfers
827,279
Transfer from / (to) tenants, ServI￿S account
114,101
157,315
Surplus / Ideflclt)
667,993
984,594
This schedule Is for Informatlon purposes only and Ss not subject to audit.
33

Triangle Houslng Assoclatlon Ltd
Year Ended 31 March 2024
APPENDIX 2 - SUPPORTED HOUSING
2024
2023
Restated
INCOME
Rent and servlce charges
Rates recelvable/ (overpald)
Supportlng People Income
Health trust charges
Personal care charges
Soclal Houslng Grant released
Volds
Furlough income
667,076
11,079
2,461,030
7,954,485
760,844
99,899
(37,878)
598,819
10,368
2,444,391
7,361,138
596,243
123,748
(39,627)
1,097
11,916,535
11,096,177
EXPENDITURE
Admlnlstratlon costs
Dlrect salarles
Houslnglcare salarles
Travel
Tralnlng and recrultment
Resldents, costs
Rent
Rates payablel(credlt due)
Rates dlscount
Insurance
Water rates
Statloneryi computeri phone and postage
Heat and Ilght
Tenant partlclpatlon
Bad debts
Servlce charges
Runnlng expenses.
Repalrs - routlne
Repalrs - planned and cycllcal
Repalrs - admlnlstratlon costs
Dep￿CIatIOn
Dlsposals
Interest
948,345
1,212,331
8,337,021
22,924
152,353
17,960
7,205
11,091
(1,109)
15,137
24,271
62,920
48,394
40,335
(630)
65,575
107,208
73,283
50,937
244,242
148,272
1,556
40,473
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
30,271
11,630,094
11,303,512
Surplus / (deflclt) before transfers .
286,441
(207,335)
Transfer from / (to) tenants, Se￿IceS account
Transfer from / (to) ￿strIcted fund
(43,547)
(17,779)
Surplus
242,894
Thls schedule Is for Information purposes only and Is not subject to audit.
(225,114)
34

Trlangle Houslng Assoclatlon Ltd
Year Ended 31 March 2024
APPENDIX 3 - ELDERLY SCHEME
2024
2023
INCOME
Health trust
Supporting People
Other
312,091
254,175
168,421
248,094
1,905
566,266
418,420
EXPENDITURE
Admlnlstratlon costs
staff costs
statloneryi computer, telephone and postage
Sundrles
54,303
488,443
2,328
13,526
53,648
345,170
2,849
10,754
558,600
412,421
Surplus / (deflclt)
7,666
5,999
Thls schedule Is for Informatlon purposes only and Is not subject to audlt.
35

Trlangle Houslng Association Ltd
Year Ended 31 March 2024
APPENDIX 4 - AGENCY MANAGED REVENUE ACCOUNT
2024
INCOME
Rent and servlce charges
Rates recelvable
Soclal Houslng Grant
Volds
1,260,914
60,614
296,498
(118,594)
1,154,502=
57,635
275,412
(91,438)
1,499,432
1,396,111
EXPENDITURE
Admlnlstratlon costs
Insurance
Heat and Ilght
Servlce charges
Bad debts
Rates payable
Rates dlscount
Gardenlng
Repalrs - routlne
Repalrs - planned and cycllcal
Repalrs - Admlnlstratlon costs
Dlsposals
Depreclatlon
Sundrles
Loan Interest
182,411
32,116
16,131
103,293
2,905
72,406
(5,767)
35,137
123,869
89,623
46,979
' 2,844
448,719
11,234
218,676
1,380,576
107,371
31,347
11,806
103,271
68,043 .
(5,921)
47,179
160,222 4)
144,303.
27,653
360,959
11,838
163,619
1,231,690
Surplus before transfers
118,856
164,421
Transfer from / (to) tenants, servlces account
(9,770)
(6,763)
Surplus
109,086
157,658
Thls schedule Is for information purposes only and Is not subject to audlt.
36

Triangle Housing Associatlon Lt41
Year Ended 31 March 2024
APPENDIX 5
PROPERTY DEVELOPMENT
2024
2023
INCOME
Acqulsltlon and development allowances
382,808
486,591
EXPENDITURE
Admlnistration costs
Sundry development costs
43,778
339,030
382,808
155,971
330,621
486,592
(i)
DONATIONS
Donatlons recelved
Resldents, expenses
3,251
(3,224)
2,570
(1,725)
Surplus / (Deficlt)
27
845
Thls schedule Is for Snformatlon purposes only and Is not subject to audlt.
37

Trlangle Housing Assoclatlon Ltd
Year Ended 31 March 2024
APPENDIX 6
PROGRESSION TO EMPLOYMENT ACCOUNT
2024
INCOME
Trust Income
DEL Income
ESF grant
419,934
390,680
165,288
550,968
419,934
1,106,936
EXPENDITURE
Salarles
Travel
Training
Recrultment
Marketlng
Insurance
Computer runnlng costs
Statlonery
Heat and Ilght
Telephone
Rent
Malntenance
Offlce furnlture/equlpment
Sundry
Central costs
324,136
4,402
2,390
132
835,864-
23,901 *'
19,676
424
782
828;
9,141
2,759
18,631
3,941
398
7,380
1,609
15,203
798
37,896
6,930
7,963
11,091
39,212
16,897
2,971
11,795"
140,901
459,540
(39,606)
1,168,543
(61,607)
Surplus / (Deflclt)
TRADING ACCOUNT
Tradlng Income
58,457
Trainee expenses
other expenses
7,797
18,217
31,543
1,806
9,603
49,760
8,697
Surplus / (deficit)
19,175
This schedule is for Informatlon purposes only and is not subject to audlt.
38

Trlangle Houslng Association Ltd
Year End￿ 31 March 2024
APPENDIX 7
UKSPF ACCOUNT
2024
2023
INCOME
UKSPF Grant
679,093
679,093
EXPENDITURE
Salarles
Travel
Tralnlng
Recrultment
Marketlng
General Events
Computer runnlng costs
statlonery
Conferences & Semlnars
Telephone
MaSntenance
Sundry
Central costs
542,705
20,092
10,044
165
3,507
1,319
2,928
464
3,396
2,737
579
21,239
69,918
679,093
Surplus / {Deflclt)
Thls schedule Is for Informatlon purposes only and Is not subject to audlt.
39

Trlangle Housin9 Assoclatlon Ltd
Year Ended 31 March 2024
APPENDIX 8
FLOATING SUPPORT
2024
2023
INCOME
Supportlng People
993,789
1,005,356
EXPENDITURE
- Admlnlstratlon costs
,, Salaries and Natlonal Insurance
Staff travel
Tralnlng and recrultment.:.
Other runnlng costs
94,093
940,588
22,212
8,304
30,790
123,441
864,862
12,824
11,006
24,907
1,095,987
1,037,039
Surplus/(t)eflclt)
(102,198)
(31,683}
OTHER SUPPORT SERVICES
INCOME
Grants
Other Income
other expenses
352,645
301,857
(352,645)
(320,737)
Surplusl(Deflclt)
XNVESTMENT INCOME
INCOME
Bank Snterest
6,794
EXPENDITURE
Bank charges
Deflclt
(13,557)
14,336
{14,502)
(7,708)
Thls schedule Is for information purposes only and Is not subject to audlt.

Trlangle Houslng Assoclatlon Ltd
Year Ended 31 March 2024
APPRENDIX 9- OTHER SUPPORT SERVICES
Trust Houslng For
The Gallaher
Trust
2024
2023
Income
332 437
352 645
301858
SalarSes
130,870
17,235
1,927
3,002
133,872
17,235
2,013
193,443
7,734
1,602
Travel
Trainlng
Recruitment
Marketlng
Insurance
86
147,520
2,255
149,775
16,357
24
Computer running
costs
1,067
StatSonery
Heat and light
Telephone
Rent
336
336
iii
194
316
118
118
12
Maintenance
117
Office fumlture/
equlpment
Sundry
3,769
7,224
10,978
21,971
52,529
Central costs
27,325
27,325
47,231
332 437
320 737
Surplus/(Deflclt)
Thls schedule is for Informatlon purposes only and Is not subject to audlt.
41

Triangle Housing Assoclatlon Ltd
Year Ended 31 March 2024
APPENDXX 10 - SUMMARY INCOME AND EXPENDITURE ACCOUNT
TRANSFERS FROM / (TO)
2024
2023
Restated
General needs account
Supported Ilvlng
Elderly unlt
Agency
Development
Progresslon to Employment
Tradlng
Floatlng Support
Other grants
Investment
Disposals
Charlty
667,993
242,894
7,666
109,086
984,594
(225,114)
5,999
157,658
(i)
(61,607)
8,697
(31,683)
(18,879)
(7,708)
133,002
{16,244)
(39,606)
19,175
(102,198)
14,336
15,339
(18,442)
Transfers from / (to) restrlcted funds
916,243
928,714
Thls schedule Is for Informatlon purposes only and Is not subject to audlt,
42