Reg No. IP000193
Triangle Housing Association Ltd
Report and Financial Statements
For the Year Ended 31 March 2025

Contents page
Page
Board of Management and Advisers
Report of the Board of Management
3-11
Independent Audltor'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
19-21
Notes to the financial statements
22-33
Appendices
34-43

rriangle Houslng Assoclatlon Ltd
Year Ended 31 March 2025
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
Mr G Allen
Chairperson
Vice Chairperson
Company Secretary/Fraud Liaison Officer
Treasurer
(co-opted 8th November 2024)
Chief Executive
Mr C Alexander
Registered office
60 Eastermeade Gardens,
Ballymoney
Co Antrim BT53 6BD
Registered under the Co-operative and Community Benefit Societies Act (Northern
Ireland)2016 (formerly the Industrial and Pmvident Societies Att (Northern Ireland)
1969).
Registered number
IP 000193
Registered with the Charity Cornmission for Northem Ireland NIC 101486
Statutory Auditors
Sumer Auditco NI 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
Coleralne
BT52 IAH
Edwards & Co
28 Hill Street
Belfast
BTI 2LA
Wilson Nesbitt
33 Harnilton Road
Bangor
BT20 4LF

Triangle Houslng Association Ltd
Year Ended 31 March 2025
Cleaver Fulton Rankin
50 Bedford Street
Belfast
BT2 7FW
Mills Sellg
21 Arthur Street
Belfast
BTI 4GA
Shoosmiths
2 East Bridge Street
Belfast
BTI 3NQ

Triangle Houslng Association Ltd
Year Ended 31 March 2025
Report of the Board of Management for the year ended 31 March 2025
The Board presents its report together with the financial statements for the year ended 31 March
2025.
statem
ntofB
of Mana
ement's res
nsibili
ies
The Board of Management is reqUI￿d by law to p￿pare financial statements for each financial year
which give a true and fair vlew 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
conslstently and reasonable and prudent judgements and estimates have been made in the
preparation of the financial statements for the period ended 31 March 2025. 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 taklng reasonable steps for the prevention
and detection of fraud and other irregularities.
Prin
al activl
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
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.
iness R
vi
Triangle (the Association) provides social housing. including general needs houslng; 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 who are
economically inactive. During 2024125, the key achievements were:
Triangle increased its rents for general needs accommodation in line with CPI + Iwo (7.7010)
for the 2024/25 year.
The Board of Management approved a new rent setting scherne for supported housing
accommodation to ensu￿ that Triangle could continue to provide high quality management
and rnaintenan￿ services to our tenants.
Triangle completed 117 additional housing units in the year. At the end of the year Triangle
had 1,545 units of accommodation compared with 1,442 units the previous year.
Triangle also provided direct support and care services to 160 service users with learnlng
disabilities a nd 37 frail elderly people.
Triangle provided homes for 292 people with spedal needs with support services delivered to
them by 11 joint management partners.
In addition, floating support services were provided to 774 people who required emergency
accommodation and support and longer-term peripatetic support services. Through these
services we helped 218 people to access benefits, 334 to maintain their tenancy, 171 were
supported to access health services, and 49 people were supported to obtain employment.
As lead partner of the Prosper Consortium, working in partnership with 4 other voluntary
sector partners, funded by UKSPF, employment support was provided to 921 economically
Inactive participants with 346 securing employment across 9 council a￿aS within Northern
Ireland.

Trlangle Housing Assoclatlon Ltd
Year Ended 31 March 2025
Addltionally a dedicated Learning Disability Service commissioned by NHSCT provided a total
of 7859 vocational training service days to individuals with learning disabilities referred to the
service. This was delivered across 3 enterprise sites (Coleraine, Ballymena & Magherafelt)
Along with four other organisations, Triangle is in a consortium of supported employment
providers (called PROSPER) and successfully secured funding to deliver employment services
to the economically inactive throughout 10 of the 11 council areas in Northern Ireland,
£362k was invested in replacing components within existing houslng stock. There are no
significant fire safety or damp and mould issues within our stock.
Tenant satisfaction levels remained strong, however, satisfaction with our repairs service was
lower than our target.
Repairs timeframes improved significantly with 92% of all response repairs completed on time
(Target 900/0). This was a result of a new response repairs contract and a new heating
maintenance contract and the implementation of an improvement plan.
The average energy performance rating of Triangle's stock was 78.2 at March 2025. Energy
performance ratings are considerably higher than the average for Northern Ireland houslng
stock (65.83). 88.9 % of Triangle's stock has an energy perf0rrnan￿ band of A-C (an increase
of 0.5¥0 from 2023124). This compares to the NI Average of 50 %. The average C02
production per property reduced to 2.2 tonnes compared to 2.3 tonnes in 2023124.
The percentage of properties void but available for letting reduced was 2.659/0. This decreased
from 3.50/0 in 2023124. Rent arrears decreased from 5.1% in 2023124 to 3.6%. Tliis
represents a good performance given the cost-of-living challenges faced by tenants.
Triangle secured over £491k in financial support for our service users through our floating
support services. We also provided finanaal health checks for 256 tenants and general
tenancy sustainment support to 400 tenants. This included supporting 226 tenants with
transition to universal credit.
We invested £271k of funding in community projects which were attended by over 7,000
people under our Housing for All programmes.
Triangle employed an average of 467 staff throughout Northern Ireland during the year.
Triangle continued to invest in the recently upgraded managed cloud and impn)ved it's IT
service.
The accounts have been prepared in accordance with the Housing SORP, Statement of
Recommended Practice for Registered Social Housing Providers.
Ad
in
Since 1977 Triangle has been providing value including significant soclal value by engaging in the
followi ng 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 disabllities and frail
elderly and provides floating support sendices to those with emergency housing issues.
Community investment - particularly working to increase employability of those economically
inactive, including those persons with a disability.
Partnering with other providers of services to the community consistent with the value added
by its own directly managed activities.
Building shared comrnunity through the development and implementation of good relations
pla ns in identified geog raphical locations.
Significant additional value is 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 wiéer community
and local and national government in the pursuit of their key objectives. Triangle's governing board,
executives and tenants must ￿Cognise and balance diverse perspectives, including those
representing existing and future tenants. Triangle's customer base can be summarised as follows..

Triangle Housing Assoclation Ltd
Year Ended 31 March 2025
Tenant Iservic
Users
Supported Living
Progression to Employment
Outreach
Floating Support
Agency Tenants
General Needs Tenants
Commtssioners l Fun
ulato
ersl
emenl.Pathers . .
Departmei)t for Communities {DfC)
Northerii Ireland Housing Execulive
(NIHE}
Department of Health {DoH)
Health & Social Care Triisls
Departmeiit for the Economy (DfE)
Departmeiit for Housing.. Communities
and Local Government (UK)
Regulation Quality & Improvement
AuthoriiyIRQIA)
Local Government
The Charity Commission for Nl
-" Auttsm Iniligti¥es
"Posttiyè FulLires'-
-Livabifity
ainstsy DRP:,
Inspiie Wel1b￿ng
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 crltical in
securing value for money:
Values that are implemented through the service delivery process and outcomes.
Employee 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 such information.
Interviews were carried out with general needs tenants, and these identified that for them the key
drivers in determining value for money were:
l. Customer Service
2. Response and planned Repairs
3. Tenant/community engagement
Rent levels in terms of affecting tenants. views of value for money was not as important as
improvernents to the response repairs service.
Triangle's artivities as an organisation are quite unique within the housing assoclation sector. The
organisation is a medium provider of accommodation provision but a large provider of housing plus
services to those with significant housing needs.

Triangle Housing Assoclatlon Ltd
Year Ended 31 March 2025
V luef rm
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 thing5 right.
Making the best use of available, or limited, resources. Working effectively and efficiently while
maintaining and improving the sen4ice to our customers.
Ensuring clear correlation between transparent and well understood costs, and the quality level
of service provided.
na
in
Value f
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. Triangle continued to deliver the exciting and ambitious corporate strategy for the
period 2023-2026 has had 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. This 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 basis and is
populated with 'value' and'money, measures as well as covering the efficiency of the 'value delivery
system,.
Triangle identifies four strategic objectives under the four themes of stakeholder, people,finance
and processes. Achieving a balance of progress against the specific targets withinthese four themes
and ensuring that we remain true to our core values should, we believe,ensure success.
Stakeholders - Improving lives by delivering extrllent services.
People - Valuing and enabling our people to meet current and future challenges.
Finance Creating sustainable growth through strong financial management.
pro￿sseS - 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 actlvities that lead to economic. efficient
and effective services. These include strategies for.
Asset Management ,
Treasury Management:
Community Engagement.
People.
Procurement.
Zero Carbon.
Financial Inclusion.
Triangle also reported on the revised Equality Scheme for the period 2023-2028 with associated
action plan during the past year and reviewed its Disability Action Plan.

Triangle Housing Association Ltd
Year Ended 31 hlarch 2025
Triangle can demonstrate how value for money (Vfm) has been delivered in the financial year
2024/25 and has a plan for securing value for money into the future. The organisatlon also
undertakes a nationwide benchmarking exercise with other ￿gIStered housing associations.
Defining VFM
Managing VFM
Demonstrating VFM
Service levels
rertrt l suii'.)o!t ihargE selilllg & Rel!.
e5<fEier.L ¢gaiD.st sÈatr..4grds
Affordahility
service costs
lfjP-.NI)4S",ency coclc lor I'i.r.t I
Sll?i EWII c.13rgp fietling è.
os<essmtr..:.
Id
Eff
Iv
strate
ICPI
nnin
nked t
I Plan
Trlangle's corporate strategy sets out a high-level framework which determines the strategic
direction of the Association for the three years 2023-26. It establishes Triangle's vision and mission
statement, its strategic priorities, outcomes, and measures. The work of Triangle over the reportlng
period is guided by its overdrchin9 vision of 'Building Better Lives Together. with the people and
communities we sep4e.
The mission of the Assoaation over the period is 'We at Trlangle enhance Ilves by providing
homes, supporting individuals and families, sustsining communities and promoting
equality.

Trlangle Housing Associatlon Ltd
Year Enaled 31 March 2025
Triangle Is focused on achieving 6 core outcomes over the 3-year lifetime of this strategy. These
are outlined below:
People Know Us and Trust Us
Dellver more and better homes
Building
Better Lives
Together
Grow Excellent, Person
Centred Servi¢es
. A High-performlngi C. ollaboratlve .
and Healthy wor.kplace
An Aslle Innovative.
Proc
ent
Contract M
em
Effective procurement has resulted in economies of scale as well as process efflciencies and
outcomes. Triangle's capabilities have been further developed and further value in procurement is
key focus by the oryanisation. Social value is a key outcome of Triangle's procurement activity.
Mana
ement
The organisation reviewed its process for risk management which tests organisational resillence on
a regular basis. It is currently implementing a digitised System to help implement this process.
A Contin
USB
ent Process
Frameworks for business improvement are used throughout the organisation. The external
accreditation under these frameworks provides a good challenge and focus for improvement plans.
nt
rn
and
xtern
udit
Triangle employs RSM UK to undertake internal audit, focussing on those areas risk assessed as
business critical or in need of process and compliantr testing. A series of internal audits are also
deployed across the organisation in addition to the work undertaken by RSM UK. Triangle has also
trained its own internal auditors in compliance with the ISO 9001.2015 standard.

Triangle Housing Assoclatlon Ltd
Year Ended 31 March 2025
Benchm
rkin
Triangle undertakes annual benchmarking activities coordinated by Housemark on behalf of housing
associations across the UK. The outcomes of this continue to assist in focusing v2lue for money
activitles in the future.
A summary of the key financial rnetrics assoaated with organisational Value for Money for
24125 are outlined below.
The surplus for the year before transfers to reserves was £969,766 compared with a surplus of
£916,243 for the previous year. Triangle employed an average of 467 staff throughout Northern
Ireland during the year.
The operating margin remained stable as it has for the last five years and was 11.650/0 in 2025
and 11.960/0 in 2024. The operating margin is lower than other housing providers, however, this
reflects the high proportion of supported housing serdices we provide.
Our reinvestment in existing homes and new homes was 8.670/0 of our total asset base. This
compares to 7.770/0 in 2023/24 and is above average for the sector.
The rate of new housing supply delivery (new homes completed as a proportion of existing stock)
was 7. 14% compared to 2.84D/o in 2023124.
Gearlng (the proportion of borrowing in relation to the size of our asset base) was 28.3Wo
compared to 28.1% in 2023/24.
Interest cover was 3.05 times against our target of 1.2 times (2023/24 - 1.8 times)
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 is to maintain sufficient
cash balances to meet financial obligations as they become due and minimise interest payments on
loans. At the balance sheet date of 31 March 2025 Triangle had total bank loans of £52,107,639
(2024: £47,420,717). Triangle complied with all covenants imposed by its lenders.
A rn0￿ detailed Value for money is available separately.
Environmen
ial and
vernance Re
Trlangle has developed a report which sets out its Environmental, Social and Governance (ESG)
activity against the Sustainability Reporting Stsndard for Social 14ousing. 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 envlronmental 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 updated report for 2024125 will be shared with its funders and key stakeholders.
tern
Fin
ncial Control
The Board of Management is responsible for Triangle's systems of internal financial control,
along with senior management it is responsible for establishing and operating detailed control
and reporting procedures. The systems of intemal financial control can provide only
reasonable, and not absolute, assurnnce against material misstatement and loss.
The Board of Management has reviewed the effertiveness of the Association's system of
internal financial control. The review included consideration of the business risks facing the

Triangle Housing Association Ltd
Year Ended 31 March 2025
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 reser4ed for its approval ensuring
it maintains responsibility for overall strategy, approval of all property transactions
and other major capital expenditure projects.
There is an organisation structure with clearly defined lines of responsibility and
delegation of authority.
Detailed budgets are prepared covering the Association's businesses 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 usesrisk
management techniques in all aspects of its operations and integrates risk
management as part of its cultu￿. Triangle identifies, prioritises and assesses the
risks it is subject to, as and when a rlsk emerges. It implements procedures to control
and monitor risk. Triangle formally reviews its strategic risk register quarterly.
Con
Goin
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. The Treasury Strategy sets out the long term business plan including cashflows
for thlrty years based on the attivities set out in Triangle's Strategic Plan.
Cor
te Govern
It Is the opinion of the Board of Management that Triangle is in compliance with Best Practice
issued by the NHF Code of Governance 2020. The Board of Management Meets regularly
throughout the year. There are six committees, namely Finance; Housing and Development.
Audit and Risk; Organisational Development and Communications; Support Services. and
Remuneration. Committees also meet regularly throughout the year.
The Finance Committee has responsibility for finance and rr. The Housing and Development
Committee has specific responsibilities for development and housing management Including
malntenance and floating support Servi￿$. The Audit and Risk Committee has responsibility
for internal and external audit, risk management and fraud. A professional independent
person attended this committee for part of the year and advised and supported the Board on
the Committee's 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, 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 OffI￿r and other Executive Management Team members.
Each member of the Board of Management listed on page i holds a fully paid share of £1 in
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 delegated by the Board.
10

Trlan9le Housln9 Association Ltd
Year Ended 31 March 2025
Board members do not ￿ceIve 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 £1,737 (2024: £2,543).
Chief Executive Officer and Directors receive remuneration agreed by the Remuneratlon
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 temis exist.
Chief Executive Officer and D1￿ctorS, remuneration exduding pension contributions were as
follows:
2025
No.
2024
No.
£85k-£90k
£90k-£95k
£95k-£IOOk
£IOOk-£105k
£10S-£IIOK
£110-£115K
É115k-£120k
with Code of B st Practi
The auditor has confirmed that in its 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 3 to 12 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 governan￿ procedures, or on the abllity
of Triangle to continue in operational existence.
Triangle has a community engagement fund committee and made charitable donations
during the year of £15,637 (2023: £12,607).
11

Trlangle Housing Assoclation Ltd
Year Ended 31 March 2025
In
dent Audi
With effect from l July 2024, due to a reorganization and rebranding exercise, our extemal
auditors transferred all of their external audit appointments to Sumer Auditco NI Ltd. The Audit
Partner and Audit Staff undertaking the external audit have remained unchanged.
The current auditors, Sumer Auditco NI Ltd. Statutory Auditors, have indicated a
willingness to continue in office.
A resolutlon to reappoint Sumer Auditco NI Ltd, Statutory Auditors, will be proposed at
the Annual General Meeting.
By Order of the board
N Dunlop
Chair
23 June 2025
12

Trlangle Houslng Associatlon Ltd
Year Ended 31 March 2025
Independent Auditor's Report
Opinion
We have audited the financial statements of Triangle Housing Association Limited for the
year ended 31 March 2025 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 Assoaation's affairs as at 31 March 2025
and of its surplus for the year then ended.
have been properly prepared in accordance with United Kingdom Generally Accepted
Accounting Practlce. and have been properly prepa￿￿ 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 our 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 a￿ 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 suffficient and
appropriate to provide a basis for our opinion.
Concluslons 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 concem basls of accounting in the
preparation of the financial statements is not appropriate. or
the Board of Management have not disclosed in the financlal 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.
13

Trlangle Housing Associatlon Ltd
Year Ended 31 March 2025
Other informatlon
The other infomiation 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
nconsistent 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 requlred 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.
Oplnion on other matters prescribed by the Companies 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 prepa￿d in accordance with
applicable legal requirements.
Matters on which we are required to report by exceptlon
In the light of the knowledge and understanding of the Association and its environment
obtained In the course of the audit, we have not identlfied 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 us. or
the financial ststements are not in agreement with the accounting records and
returns; or
we have not received all the infom)ation 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
a￿ free from material misststement. whether due to fraud or error.
In preparing the financial statements, the Board of Management is responsible for
assessing the Association's ability to continue as a going concern, disclosing, as applicable,
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.
14

Triangle Houslng Assoclation Ltd
Year Ended 31 March 2025
Independent Auditor's Report (cont'd)
Auditor's responsibilities 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 auditorfs 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 materlal 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 withln the organisation for
fraud and identified the greatest potential for fraud in the followingareas: posting of unusual
journals along with complex transactions. We discussed these risks with client
management, designed audit procedures to test a sample of journals to confirm they were
appropriate, considered any complex transactions, and reviewed areas of judgement for
indicators of management bias to address these risks.
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
rsres
onsibilities. This description forms part of our auditors, report.
audit
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 Pmvident Societies Act (Northem Ireland) 1969). Our audit work has
been undertaken so that we might stste 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, tor this report, or for
the opinion we have formed.
Brian Clerkin FCA (Senior Statutory Auditor)
for and on behalf of Sumer
Auditco NI Ltd
statutory Auditors
Glendinning House
6 Murray Street
Belfast
BTI 6DN
23 June 2025
15

Trlangle Housing Assoclatlon Ltd
Year Ended 31 March 2025
Statement of Comprehensive Income
For the year ended 31 March 2025
Notes
2025
2024
Turnover
25,784,184
23,592,931
Operatlng costs
3 (22,780,464)
(20,770,329)
Operating surplus / (deficlt)
3,003,720
2,822,602
Gain / (loss) on disposal of fixed assets
98,973
15,339
Interest and financing income / (costs)
Transfer to charity fund
(2,113,459)
(1,903,256)
(19,468)
(18,442)
Surplus / (deficit) before tax
Taxation
969,766
916,243
Surplus / (deficit) after tax
969,766
916,243
Other comprehensive income
Unrealised surplus l (deficit) on revaluation of
housing properties
Total comprehensive income for the year
969,766
916,243
The notes on pages 22 to 33 form part of these financial statements.
16

Triangle Housing Assrtiation Ltd
Year Ended 31 March 2025
statement of Flnanclal Posltion
As at 31 March 2025
Notes
2025
2024
Fixed assets
Housing properties
Other tangible fixed assets
io
165,033,215
2,527,620
167,560,835
151,862,222
2,589,465
12
154,45 1,687
Current assets
Trade and other debtors
Cash and cash equivalents
13
9,074,622
1.494,843
10,569,465
5,915,961
1,673,324
7,589,285
Less: Creditors.. amounts falling due
within one year
Net current assets / 1Sabilities
Total assets less current liabilities
14
(13,658.891)
(8,193,929)
(3,089,426)
164,471,409
(604,644)
153,847,043
Creditors., amounts falling due after
more than one year
14
(146,948,704)
(137,294,043)
Total net assets
17,522,705
16,552,938
Reserves
Share capital
Revenue reserve
Capital reserve
20
31
30
17,522,602
72
16,552,836
72
21
Total reserves
17,522,705
16,552,938
These financial statements were approved by the Board of Management and authorised for
Issue on 23 June 2025 and signed on its behalf by:
JkLJi
N Dunlop
Chairperson
1 _ [4Mfv(Ll
Mccluggage
Secretary
D Harshaw
Vlce Chairperson
The notes on pages 22 to 33 fomi part of these financial statements.
18

Triangle Houslng Assoclatlon Ltd
Year Ended 31 March 2025
staternent of Cash Flows
For the year ended 31 March 2025
Notes
2025
2024
Net cash inflow / outflow from operating
activities
Returns on investments and serrficing of
finance
Capital expenditure and financial investment
4,366,518
2,347,282
(2.113,459)
(1,903,257)
(7,118,463)
(6,639,584)
Cash inflow / outflow before use of liquid
resources and financing
(4,865,404)
(6,195,559)
Financing
Net Cash Flow
4,686,923
7,183,226
(178,481)
987,667
Reconciliatlon of net cash flow
Increase / (decrease) in cash in period
Cash and bank at l April 2024
Cash and bank at 31 March 2025
(178,481)
1,673,324
1,494,843
The notes on pages 22 to 33 form part of these financial statements.
19

Triangle Housing Assoclation Ltd
Year Ended 31 March 2025
Notes to Statement of Cash Flows
For the year ended 31 March 2025
Reconcillation of operating surplus / (deficit) to operating cashflows
2025
2024
Operating surplus / deficit
Depreciation
Transfers
3,003,720
2,463,272
19,468
(1,621.227)
(170.586)
2,822,602
2,274,262
18,442
(1,484,551)
(269,590)
Amortisation of grant
HAG eliminated
Movements in:
Debtors
Creditors less than one year
(511,313)
1.183,184
(206,552)
(807,331)
4.366,518
2,347,282
B. Analysis of cash flows for headings netted In the cash flow statement
Returns on Investment and servicing of
finance
Interest received
34,688
(2,148,147)
27,892
(1,931,149)
Interest payable
Net cash inflow / (outflow) for returns on
investment and servicing of finance
(2.113,459)
(1,903,257)
Capital expenditure and financial investment
Other fixed assets
Housing, land and buildings
Capital grant received
Sales proceeds
Net cash inflow l (oufflow) for capital expenditure
and financial investment
(14,598)
(15,783.291)
8,398,495
280,931
{7.118.463)
(208,926)
(13,875,703)
7,059,117
385,928
(6,639,584)
Flnancing
New loans obtained
Loan principal repayments
Drawdowns
610,000
{623,078)
4,700.000
6,500,000
(616,775)
1,300,000
Share capital issued
Net cash inflow / (outflow) from financing
4,686,923
7,183,226
20

Triangle Houslng Association Ltd
Year Ended 31 March 2025
Notes to Statement of Cash Flows (cont'd)
For the year ended 31 March 2025
C. Analysis of changes in net funds
At
31/03124
other
Changes
At
31/03125
Cashflows
Cash in hand and at
bank
Debt due within one year
1.673.324
(178,481)
1,494,843
(856,869)
182,282
(674,587)
Debt due after more than
one year
(46,563,848)
(4,869,204)
(51,433,052}
(45.747,393)
{4,865,403)
(50,612,796)
21

rriangle Houslng Assoclation Ltd
Year Ended 31 March 2025
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 (Northem
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 RegiSte￿d Social
Housing Providers.
The financial statements are presented in Sterfing (£), which is the functional currency of
the Association.
2.2 Revenue recognltion
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. SHGIHAG due is included
as a current asset. SHG/HAG received in advance is included as a liability.
SHGIHAG received in respect of revenue expenditure is credited to the income and
expenditure account in the same period as the expenditure to which it ￿lates.
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.
22

Triangle Houslng Assoclatlon Ltd
Year Ended 31 March 2025
2.4 Tangible flxed assets
Houslng properties
Housino 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 ￿nt 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 estlmated 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 assets - 10 years
Office premises - 25 years
Retail Unlt- 25 years
23

Trlangle Housing Associatlon Ltd
Year Ended 31 March 2025
2.5 Impalrnient
Housing propertles 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 carying 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 a￿ reviewed for impairrnent if there is an indlcation that impairment may
have occurred.
2.6 Employee benefits
Defined Contribution Penslon
The Association operates a defined contribution scheme for certain employees. A defined
contributlon 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 a￿ recognised as an expense when they are due. Amounts not paid are
included 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 ￿payMents, 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 surpluses 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 the 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.
24

Trlangle Housing Association Ltd
Year Ended 31 March 2025
2.11 Flnancial instrument5
The Association only has financial assets and financial liabilities of a kind that qualify as
basic financia I Instrurnents. Basic financial instruments are initially recog nised at
transaction value and subsequently measured at their settlement value.
2.12 Judgements in applying accounting policies and key sources of
estimation uncertalnty
No judgments 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
lia bilities 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 housing assets),
interest receivable and loan interest payable from the operating surplus/ (deficit).
Turnover, Operating costs and operating surplus
2025
2024
Operating
Surplus/
(def icit)
Operating
Surplusl
(deficit)
Operating
Turnover
Operatlng
Costs
Social Housing Activities
(Note 4)
22,509,170
(19,540,623)
2,968,547
2,945,230
Non-Social Housing Activitles
(Note 5)
3,275,014
(3.239,841)
35,173
(122.628)
25,784,184
(22,780,464)
3,003,720
2,822,602
25

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fll N iTrJ o In N In
ty (N Ln
Thf Q) 10 QJ io PA In
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i Oi Ln ¢
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mmmrsoNth
mthm
40 ro
rILn￿￿t*LnoO
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o J
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tn E

rriangle Housing Association Ltd
Year Ended 31 March 2025
4. Turnover, operating costs and operating surplus/ (defiat) from social
housingactivlties (cont'd)
Dfc Allowances
2025
2024
Management allowances
Management costs
Surplus/ (deficlt)
322,344
(1.082,818)
(760,474)
283,932
(982,464)
(698,532)
Maintenance allowances
Planned, cyclical and reactive maintenan
Surplus/ (deficit)
377,696
(1,024.851)
{647,155)
332,688
(801,774)
(469,086)
Technical & Non-Te¢hnical Income
2025
2024
Technical
Non-Technical
Total
4,077.220
4,947,703
9,024,923
3,797,351
4,089,686
7,887,037
5. Turnover, operating costs and operating surplus/ldeficit) from non-
socialhousing activities
2025
2024
Operatlng Income
Development admlnistration
Supported Employment
Floating Support services
Trading
Other grants
438.767
1,254,799
1,036,221
38,092
507,135
382,808
1,099,028
993,789
28,778
352,645
Total Non-soclal Houslng Income
275
2 857 048
Operating Costs
Development administration
Supported Employment management costs
Floating Support costs
Trading
other grants costs
438,769
1,254,801
1.023,823
15.313
507.135
382,808
1,138,633
1,095,987
9,603
352,645
Total Non-social Housing Expenditure
297967
Operating surplus/(deflclt) on non-social housing
Other Grants
2025
2024
Trust
Housing For All
The Gallaher Trust
51.662
444.196
3,769
332,437
Total Grants
27

rrfangle Housing Associatlon Ltd
Year Ended 31 March 2025
6. Surplus on ordinary activities
Surplus on ordinary activities is stated after charging/ (crediting):
2025
2024
Depreciation - owned tangible fixed assets
Amortisation of grant / Release of capital grant
Auditor's remuneration
External audit of these financial statements
Internal audit
2.463,272
(1,621.227)
2,274,262
{1,484,551)
16,800
23,760
16,800
22,280
7. Interest payable
2025
2024
Housing property loan interest
Bank interest and charges
2,129.302
1,917,592
8. Employee information
Average monthly number of employees during the financial year Is as follows:
2025
No.
2024
No.
Administration
Housing, support, development and care
103
364
467
91
371
462
St
cost
2025
2024
Wages and salaries
Social security costs
Pension costs
Agency staff
12,152,962
1,080,722
689,764
1,113.888
15.037,336
11,266,253
992,531
657,597
1,281,594
14,197,975
During the year no employees received termination payments (2024: 4). There was £0 paid in
2025 (2024: £20,345). £0 was outstanding at the year-end (2024: £0).
The aggregate remuneration of key management personnel of the Association during the year was.,
2025
2024
Aggregate emoluments payable to key management
(including pension contributions and benefits in kind)
504.859
483,992
Emoluments payable to the highest paid director (excluding
pension contri butions but including benefits in kind)
115,029
110,283

rn"angle Housing Association Ltd
Year Ended 31 March 2025
The number of management personnel to whom emoluments (excluding pension
contributions) were paid during the year falls within each of the following bands.,
2025
2024
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
115,000 - 120,000
oard of Management remuneration
There was no remuneration pald to the Board members of the Association (2024: £nil).
Board members were paid OLJt of pocket expenses totalling £1,737 (2024: £2,543).
10. Tanglble fixed assets - Housing properties
Housing
properttes
held for letting
Cost or valuation
At l April 2024
Additions
Disposals
At 31 March 2025
Completed
Work in progress
168,843,157
15,783,291
(370,653)
184,255,795
161,416,348
22,839,447
Depreciation and impairment
At l April 2024
Charge for the year
Impairment charged in year
Elimlnated on disposal
At 31 March 2025
16,980,935
2,386,829
(145,184)
19,222,580
Net book value
At 31 March 2025
At 31 March 2024
165,033,215
151,862,222
29

Tnangle Housing Association Ltd
Year Ended 31 March 2025
11. Housing Stock
Num
ned an
an
ear
Self-contalned
2025
Properties
814
156
176
2024
Properties
717
156
176
General Needs Housing
Supported Housing
Sheltered Housing
Shared Ownership / Affordable Housing
Private rented
1,147
1,050
Non Self-contalned
2025
Bed
spaces
2024
Bed
spaces
General Needs Housing
Supported Housing
Sheltered Housing
398
392
398
392
Total Unlts Owned and Managed at year end
1,545
1,442
12. Other tangible fixed assets
Offlce
prem45es
Stheme
asset$
Office
equlpment
Retail
Unit
Total
Cost or valuation
At l April 2024
Additions
Dlsposals
At 31 March 2025
2,829,114
161,910
569,904
11.341
199,078
3,257
3,760,006
14,598
2.829,114
161.910
581.245
202,335
3,774,604
Depreclation
At l April 2024
Charge for the year
Eliminated on
dlsposal
At 31 March 2025
501,695
45,840
99.929
13.614
560,952
8,768
7,965
8,221
1,170,541
76,443
547,535
113.543
569.720
16,186
1,246,984
Net book value
At 31 March 2025
At 31 March 2024
2,281,579
2,327,419
48,367
61.981
11.525
8,952
186.149
191,113
2,527,620
2,589.465
30

Triangle Housing Assoclation Ltd
Year Ended 31 March 2025
13. Debtors
2025
2024
Gross rental debtors - Tethnical
Gross rental debtors
Non-Technical
Provision for bad debt
Net ￿ntaI debtors
Housing Association Grant receivable
Prepayments and accrued income
Tenants, Services Fund
other debtors
1,653,075
241,440
{25.990)
1,868,525
5,953,418
509,211
128,976
614,492
9.074,622
1,411,407
143,343
(9.609)
1,545,141
3,306,068
377,754
103,999
582,999
5,915,961
14. Creditors
mounts fallin
due withln I
2025
2024
Loans (see analysis below)
Housing Association Grant in advance
Deferred Housing Association Grant (Note 15)
Disposal Proceeds Fund
Accruals and deferred income
Rent and service charges received in advance
Charity fund
Residents. funds
Other creditors
Other taxes and social security
674,587
7.343,500
1.621,227
856,869
3,016,117
1,484,551
330,655
875,052
160,210
30,558
24,943
1,414,974
1.470,416
771,548
34,889
32,298
1,464,361
246,065
13.658,891
8,193,929
Amounts fallin
ue after more than I
2025
2024
Loans (see analysis below)
Deferred Housing Assoaation Grant {Note 15)
51,433,052
95,515,652
146,948.704
46,563,848
90,730,257
137,294,105
ans
2025
2024
Within one year
Between one and two years
Between two and flve years
In five years or mo
674,587
6,005,448
9.125.394
36,302,210
52,107,639
856,869
996,573
8,749,812
36,817,463
47,420,717
31

Triangle Housing Association Ltd
Year Ended 31 March 2025
14. Creditors (cont'd)
Housing loans are secured by specific charges on the association's properties and are repayable at varylng
rates of interest and terms, some of which extend up to 13 or 23 years. The association had total loan
facilities of £54,607,639 at the 31st March 2025 of which £52,107.639 was drawn. 77% of the loan
portfolio was at fixed rates of interest for their term.
15. Deferred grant
2025
2024
At l April
Grant received in the year
Released to income in the year
Transfer from Disposal Proceeds Fund
Eliminated on component disposals
Eliminated on housing unit disposals
At 31 March
92,214.808
6,383,230
(1.621,227)
330,654
(30,255)
{140,331}
97,136,879
85,695,076
8,455,413
(1,484,551)
(181,540)
(248,488)
(21,102)
92,214,808
16. Capital ¢ommltments
At 31 March 2025 the Assooation had capital commitments as follows:
2025
2024
Contracted for but not provided in the financial statements
21.419.466
21.419.466
19,307,072
19,307,072
17. Contingent Liabilities
Social Hou
Gr
Housin
Association
rant
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.
olida Pa
The Association has a contingent liability in relation to a potential liability for holiday pay on
overtime payment5. 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 indusion of other allowances. A
reliable estimate cannot be made at thi5 Stage.
18. Penslon Commitments
Define
con
ribution
ensions
The Association operate5 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 £689,764 (2024: E657,596), Contributions
outstanding at 31 March 2025 amounted to £13.834 (2024: £86,143).
32

Trlangle Housing Assoeiatlon Ltd
Year Ended 31 March 2025
19. Leasing commitments
in
leases
The total of the Association's future minimum lease payments under non-cancellable
operating leases was:
2025
2024
Within one year
Between one and five years
In five years or more
64,377
60,161
64,377
60,161
20. Share capital
Ordinary shares of £1 each fully pald:
2025
2024
At l April
Issued in the year
Transferred to capital reserves
At 31 March
30
31
(2)
30
31
21. CapStal reserves
2025
2024
At l April
Transferred to / from share capital
At 31 March
72
70
72
72
22. Restricted reserves
2025
2024
At l April
Transferred to / from revenue reserves
At 31 March
23. Related party transactions
During the year the Association had no transactions with related parties.
33

Trlangle Houslng Association Ltd
Year Ended 31 March 2025
APPENDXX I - GENERAL NEEDS HOUSING
2025
2024
INCOME
Rent and service charges
Rates receivable
SHG released
Voids
5,957,502
764,913
1,232,376
{279,608)
5,193,219
694,134
1,088,154
(221,857)
7.675,183
6,753,650
EXPENDITURE
Administration costs
Ensurance
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
892,209
106,834
48,509
34.856
490,622
808,928
(81,372)
569,933
454,919
190,610
53,913
1,839,491
1,207
1,917,353
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
7,328,010
347,173
6,199,758
Surplus / Ideficit) before transfer5
553,892
Transfer from l (to) tenants. servi￿$ account
69,292
114,101
Surplus / (deficit)
416,465
667,993
This schedule is for information purposes only and is not subject to audit.
34

rriangle Housing Assoclatlon Ltd
Year Ended 31 March 2025
APPENDIX 2- SUPPORTED HOUSING
2025
2024
INCOME
Rent and service charges
Rates receivablel (overpaid)
Supporting People income
Health trust charges
Personal care charges
Social Housing Grant released
Voids
833,327
14,234
2,546,784
8,317,427
742,140
103,935
(26,084)
12,531,763
667,076
11,079
2,461,030
7,954,485
760,844
99,899
(37,878)
11,916,535
EXPENDITURE
Administration costs
Direct salaries
Housing/Care salaries
Travel
Training and recruitment
Residents, costs
Rent
Rates payablel(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
999,074
1,229,038
8,874,627
15,623
118,204
16,791
4,162
29,998
{1,162)
16,021
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
60,356
45,098
44,676
839
93,477
96,434
143,977
110,507
257,307
161,691
(4,924)
33,725
12,345,539
11,630,094
Surplus / (deficit) before transfers
186,224
286,441
Transfer from / (to) tenants. services account
Transfer from / (to) restricted fund
{36,010)
(43,547)
Surplus
150,214
This schedule is for information purposes only and is not subject to audit.
242,894
35

Trlangle Housing Associatlon Ltd
Year Ended 31 March 2025
APPENDIX 3 - ELDERLY SCHEME
2025
2024
INCOME
Health trust
Supporting People
other
387,251
270,809
312,091
254,175
658,060
566,266
EXPENDITURE
Administration costs
staff costs
stationery, computer. telephone and postage
Sundries
62,505
530,335
2,804
13,972
54,303
448,443
2,328
13,526
609,616
558,600
Surplus / (deficit)
48,444
7,666
This schedule is for information purposes only and is not subject to audit.
36

Trlangle Houslng Association Ltd
Year Ended 31 March 2025
APPENDIX 4 - AGENCY MANAGED REVENUE ACCOUNT
2025
2024
INCOME
Rent and service charges
Rates receivable
Social Housing Grant
Voids
1,384,388
70,558
284,916
(95,698)
1,260,914
60,614
296,498
(118,594)
1,644,164
1,499,432
EXPENDITURE
Admlnistration costs
197,663
30,287
23,950
89,503
6,212
69,491
(5,719)
45,810
245,017
117,097
50,910
(27,449)
390,745
182,411
32,115
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
Insurance
Heat and light
Service charges
Bad debts
Rates payable
Rates discount
Gardening
Repairs
routine
Repairs
planned and cydical
Repairs Administration costs
Disposals
Depreciation
Sundries
Loan interest
178,224
1,411,741
Surplus before transfers
232,423
118,856
Transfer from / (to) tenants, services account
(8,305)
{9,770)
Surplus
224,118
109,086
This schedule Is for information purposes only and is not subject to audit.
37

Trlangle Housing As5o￿ation Ltd
Year Ended 31 March 2025
APPENDIX S
PROPERTY DEVELOPMENT
2025
2024
INCOME
Acquisition and development allowances
438,767
382,808
EXPENDITURE
Administration costs
Sundry development costs
39,427
399,340
438,767
43,778
339,030
382,808
DONATIONS
Donations received
Residents, expenses
11,911
(4,556)
3,251
(3,224)
Surplus / (Deficit)
7,355
27
This schedule is for information purposes only and is not subject to audit.

Triangle Housing Association Ltd
Year Ended 31 March 2025
APPENDIX 6
PROGRESSION TO EMPLOYMENT ACCOUNT
2025
2024
INCOME
Trust income
379,435
419,934
379,435
419,934
EXPENDITURE
Salaries
Travel
Training
Recruitment
Marketing
General Events
Insurance
Computer running costs
stationery
Heat and light
Telephone
Rent
Maintenance
Office furniture/equipment
Sundry
Central costs
312,028
4,586
963
96
198
1,453
433
4,968
1,124
7,561
764
24,333
324,136
4,402
2,390
132
398
7,380
1,609
15,203
798
37,896
6,930
7,963
11,091
39,212
1,428
(16,511)
36,011
379,435
459,540
(39,606)
Surplus / (Deficit)
TRADING ACCOUNT
Trading income
28,778
Trainee expenses
other expenses
13,388
7,797
1,806
1,925
15,313
22,779
9,603
Surplus / (deficit)
19,175
This schedule is for information purposes only and is not subject to audit.
39

Triangle Housing Association Ltsl
Year Ended 31 March 2025
APPENDIX 7
UKSPF ACCOUNT
2025
2024
XNCOME
UKSPF Grant
875,364
679,093
875,364
679,093
EXPENDITURE
Salaries
Travel
Training
Participants Training
Recruitment
Marketing
General Events
Computer running costs
statlonery
Conferences & Seminars
Rent
Heat & Light
Telephone
Maintenance
Sundry
Central costs
615,810
24,326
14,332
5,173
65
38,493
11,529
542,705
20,092
10,044
165
3,507
1,319
2,928
464
3,396
863
13,597
10,682
1,041
2,364
7,189
59,658
70,242
2,737
579
21,239
69,918
875,364
Surplus / (Deficit)
679,093
This schedule is for information purposes only and is not subject to audit.
40

Trlangle Houslng Association Ltd
Year Ended 31 March 2025
APPENDIX 8
FLOATING SUPPORT
2025
2024
INCOME
Supporting People
1,036,221
993,789
EXPENDITURE
Administration costs
Salaries and National Insurance
staff travel
Training and recruitment
Other running costs
98,424
863,869
19,878
11,601
30,051
94,093
940,588
22,212
8,304
30,790
1.023,823
1,095,987
Surplus/(Deficit)
12,398
(102,198)
OTHER SUPPORT SERVICES
INCOME
Grants
other income
Other expenses
507,135
352,645
(507,135)
(352,645)
Surplus/(Deficit)
INVESTMENT XNCOME
INCOME
Bank interest
27,893
EXPENDITURE
Bank charges
(18,845)
(13,557)
Surplus/(Deficit)
15,843
14,336
This schedule is for information purposes only and is not subject to audit.
41

Trlangle Housing Assoclatlon Ltd
Year Ended 31 Nar¢h 2025
APPRENDIX 9 - OTHER SUPPORT SERVICES
Trust Houslng For
The Gallaher
Trust
2025
2024
Income
444 196
507 135
352 645
Salaries
113,257
8,412
1,251
268,642
2,136
10,769
396
124,026
8,808
1,251
268,642
2,136
133,872
17,235
2,013
149,775
Travel
Training
Marketing
Computer running
costs
Stationery
127
127
336
Telephone
Sundry
112
112
118
51,662
3,467
55,129
21,971
Central costs
46.904
46,904
27,325
444 196
507 135
352 645
Surplus/(Def icit)
This schedule is for information purposes only and is not subject to audit.
42

Triangle Houslng Association Ltd
Year Ended 31 hlarch 2025
APPENDZX 10- SUMMARY INCOME AND EXPENDITURE ACCOUNT
TRANSFERS FROM / (TO)
2025
2024
General needs account
Supported living
Elderly unit
Agency
Development
Progression to Employment
Tradlng
Floating Support
Other grants
Investment
Disposals
Charity
416,465
150,214
48,444
224,118
667,993
242,894
7,666
109,086
(39,606)
19,175
(102,198)
22,779
12.398
15,843
98,973
(19,468)
14,336
15,339
(18,442)
Transfers from / (to) restricted funds
969,766
916,243
This schedule is for information purposes only and is not subject to audit.