CHARITY REGISTRATION NUMBER: NIC103637 Northern Ireland Housing Associations. Charitable Trust Unaudited Financial Statements 31 March 2025 Finegan Gibson Ltd Chartered accountants Causeway Tower 9 James Street South Belfast BT2 8DN
Northern Ireland Housing Associations. Charitable Trust Financial Statements Year ended 31 March 2025 Page Trustee's annual report Independent examiner's report to the trustee Statement of financial activities statement of financial position Notes to the financial statements
Northern Ireland Housing Associations. Charitable Trust Trustee's Annual Report Year ended 31 March 2025 The trustee presents their report and the unaudited financial statements of the charity for the year ended 31 March 2025. Chairfs report The Trustee The Northern Ireland Federation of Housing Associations, has pleasure in presenting the Annual Report and the financial statements of the charity for the year ended 31 March 2025. The Trustee has adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities, (FRS 102) in preparing the annual report and financial statements of the charity. Northern Ireland Housing Associations, Charitable Trust {'NIHACT') registered as a charity on 13 October 2015. The charity number is NIC103637. Its principal and registered office is 6¢ Citylink Business Park, Belfast, BT12 4HB. The trustee. The Northern Ireland Federation of Housing Associations, has held office since 1 April 2015. Reference and administrative details Registered charity name Northern Ireland Housing Associations, Charitable Trust Charity registration number NIC103637 Principal office 6c Citylink Business Park Albert street Belfast BT12 4HB The trustee The Northern Ireland Federation of Housing Associations Independent examiner Sumer Nl Glendinning House 6 Murray Street Belfast BT16DN
Northern Ireland Housing Associations, Charitable Trust Trustee's Annual Report (continued) Year ended 31 March 2025 Structure, governance and management Constitution The charity was originally established under a Deed of Trust dated 19 April 1978. The Northern Ireland Federation of Housing Associations (NIFHA) is the sole trustee of NIHACT. The organisation registered as a charity on 13 October 2015. Methods of appointment or election of Trustee NIFHA'S Board which can be up to 11 members, including a Chair (recruited externally), a Vice Chair (appointed from within the members of the Federation), and a maximum of nine other Board Members from within and external to the housing association sector, appoints the Community Investment (NIHACT) Committee. The Board is recruited in accordance with Clause 32 of NIFHA'S Articles of Association. The Community Investment Committee is the sub-committee of the Board which directs the Charitable Trust. Membership of the Community Investment Committee is a minimum of 5 persons {inclusive of the chair) and will include a minimum of one and a maximum of Board members. The chair of the committee shall be a member of the NIFHA board. The remaining members of the Committee shall be board members or staff members of member housing associations. The Federation issues a call for expression of interest in Committee membership as vacancies arise. In the event of more people expressing an interest to join the committee then there are places, the NIFHA Board shall select the remaining Committee members according to the Charity's needs. Objectives and activities Our organisation supports local housing association charities and other charities that assist the Northern Ireland social housing sector in several ways.. By providing grant support from our Charities Fund, for the benefit of recipient applicant charities and their beneficiaries- By providing practical support in training, guidance and research reports to Charitable Housing Associations in Northern Ireland., By facilitating and enabling charitable housing associations to become more efficient and effective through the Charity's offering of strategic support and advice, promotion of good practice and partnership and support to access funding opportunities., and By recognising the work of charitable housing associalions and other charities through Community Snvestment Awards. Beneficiaries include charitable housing associations, tenants of housing associations and the local communities within these associations operate. NIHAcfs aim is the increase the capacity of organisations that assist the local social housing sector to deliver positive community benefrt that goes beyond the provision of core housing, care and support services. For housing associations these benefits will include enhanced effectiveness and capacity building, for housing associations tenants the benefits will lead to an improved quality of life. for communities the benefits will include improved cohesiveness within community members.
Northern Ireland Housing Associations. Charitable Trust Trustee's Annual Report (continued) Year ended 31 March 2025 Achievements and performance During the year until 31st March 2025, NIHACT has seen an increase in activity with the resurgence of the Community Investment Committee to oversee and direct NIHACT operations. Under the Chairmanship of Neville Amistrong (NIFHA Board member), the committee undertook a number of reviews on how NIHACT can best seNe the interests and development of the local housing association sector. In the year to March 2025, NIHACT commissioned a research report on housing allocation policy, that will greatly support the work of the local charitable housing associations and the Committee plans to deliver several other pieces of work for the sector in the years ahead. NIHACT Committee in the year Neville Armstrong (Chair) Agnes Crawford Ruth Buchanan Teresa Mccloskey Brendan Morrissey Financial review ReseNes policy The Charity's policy is to retain a level of unrestricted reserves that are needed for specific projects that are undertaken as part of the Committee's annual action plan and to cover the running costs of the Charity for a limited period should there be a significant shortfall in income. The Committee's strategy is to continue to maintain and if possible to build reserves to ensure that the Charity's obligations are met and be able to re-invest in developing further services. The Charity will continue to monitor compliance with this policy on a regular basis and the Board of the Trustee will review the appropriateness of the policy annually. The trustee's annual report was approved on 25 September 2025 and signed on behalf of the board of trustees by.. MrsH ell On behalf of Northern Ireland Federation of Housing Associations
Northern Ireland Housing Associations. Charitable Trust Independent Examinerfs Report to the Trustee of Northern Ireland Housing Associations, Charitable Trust Year ended 31 March 2025 I report on the financial statements of the Northern Ireland Housing Associations, Charitable Trust {'the charity,) for the year ended 31 March 2025. Respective responsibilities of Charity trustees and examiner As the Charity's trustees you are responsible for the preparation of the financial statements in accordance with the Charities Act (Northern Ireland) 2008 ('the Charities Act,). It is my responsibility to.. examine the financial statements under section 65 of the Charities Act; follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b} of the CharitiesAct', and state whether particular matters have come to my attention. Basis of independent examiner's report I have examined your charity financial statements as required under section 65 of the Charities Act and my examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act. My examination included a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also included consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you as the charity trustee concerning any such matlers. My role is to state whether any material matters have come to my attention giving me cause to believe.. 1. that accounting records were not kept in accordance with section 63 of the Charities Act- 2. that the financial statements do not accord with those accounting records., 3. that the financial statements do not comply with the accounting requirements of the Charities Act; and 4. that there is further information needed for a proper understanding of the financial statements to be reached. Independent examiner's statement I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention. Amanda Mcmaw Independent Examiner Sumer Nl Glendinning House 6 Murray Street Belfast BT16DN 25 September 2025
Northern Ireland Housing Associations. Charitable Trust Statement of Financial Activities Year ended 31 March 2025 2025 Unrestricted funds Total funds Total funds 2024 Nots Income and endowments Investment income 985 985 513 Total income 985 985 513 Expenditure Expenditure on charitable activities Total expenditure 4,000 4,000 1,000 4,000 4,000 1,000 Net expenditure and net movement in funds {3,015) (3.015) (487> Reconciliation of funds Total funds brought forward Total funds carried forward 35,515 35,515 32,500 36,002 32,500 35,515 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from ¢ontinuing activities. The notes on pages 7 10 12 form part of these financlal statements.
Northern Ireland Housing Associations. Charitable Trust ststement of Financial Position As at 31 March 2025 2025 2024 Note Current assets Cash at bank and in hand 45,011 44,026 Creditors: amounts falling due within one year Net current assets 12,511 8,511 32,500 35,515 35,515 Total assets less current Ilabilities 32,500 Net assets 32,500 35,515 Funds of the charity Unrestricted funds 32,500 35,515 Total charity funds 10 32,500 35,515 These financial statements were approved by the board of trustees and authorised for issue on 25 September 2025, and are signed on behalf of the board by.. Mrs Hazel On behal of Northern Ireland Federation of Housing Associations The notes on pages 7 to 12 fomi part of these financial statsments.
Northern Ireland Housing Associations. Charitable Trust Notes to the Financial Statements Year ended 31 March 2025 General information The charrty is a public benefit entity and a registered charity in Northern Ireland and is unincorporated. The address of the principal office is 6¢ Citylink Business Park, Albert Street, Belfast, BT12 4HB. Statement of compliance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland., the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP {FRS 102)) and the Charities Act (Northern Ireland) 2008. Accounting policies Basis of preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entty. Going concern There are no material uncertainties about the charity's ability to continue. Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustee for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of sub-classes= restricted income funds or endowment funds.
Northern Ireland Housing Associations. Charitable Trust Notes to the Financial Statements (continued) Year ended 31 March 2025 Accounting policies (continued) Incoming resources All incoming resources are included in the statement of financial activities when entitlement has passed to the charity- it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income.. income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of serVIS is recognised with the delivery of the contracted SeICe. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates= expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. expenditure on charitable activtties includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the Charity apportioned to charitable acttvities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned beeen the activities they contribute to on a reasonable, justifiable and consistent basis. Tangible assets Tangible assets are initially recorded at cost. and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Northern Ireland Housing Associations, Charitable Trust Notes to the Financial Statements f¢ontinued) Year ended 31 March 2025 Accounting policies (Continued) Tangible assets (contlnued) An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expendilure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows.. Equipment 25 % straight line Impairment of fixed assets A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impaimient testing of goodwill. the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the Cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units. Financial instruments A financial asset or a financial liability is recognised onty when the charity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Northern Ireland Housing Associations. Charitable Trust Notes to the Financial Statements {¢ontlnued) Year ended 31 March 2025 Accounting policies (continued) Financial instruments (¢ontlnued) Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impaimient loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, to the exlent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Investment income Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Bank interest receivable 985 985 513 513 Expenditure on charitable activities by fund type Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Support costs 4,000 4,000 1,000 1,000 Independent examination fees 2025 2024 Fees payable to the independent examiner for.. Independent examination of the financial statements 1,000 1,000 Trustee remuneration and expenses Trustee's remuneration for the year was Nil (2024.. Nil) 10
Northern Ireland Housing Associations. Charitable Trust Notes to the Financial Statements (¢ont14tyued) Year ended 31 March 2025 Tangible fixed assets Equipment Cost At 1 April 2024 and 31 March 2025 Depreciation At 1 April 2024 and 31 March 2025 Carrying amount At 31 March 2025 636 636 At 31 March 2024 Creditors: amounts falling due within one year 2025 2024 Accruals and deferred income 12,511 8,511 10. Analysis of charitable funds Unrestricted funds At 1 April 2024 At Income Expenditure 31 March 2025 General funds 35,515 985 (4.000) 32,500 At 1 April 2023 At Income Expenditure 31 March 2024 General funds 36,002 513 (1,000) 35,515 11
Northern Ireland Housing Associations, Charitable Trust Notes to the Financial Statements (continued) Year ended 31 March 2025 11. Analysis of net assets between funds Unrestricted Total Funds Funds 2025 Current assets Creditors less than 1 year Net assets 45,011 {12.511) 32,500 45,011 (12,511) 32,500 Unrestricted Total Funds Funds 2024 Current assets Creditors less than 1 year Net assets 44,026 (8,511) 35,515 44.026 (8,511) 35,515 12. Related parties The Northern Ireland Federation of Housing Associations acts as the sole trustee of the Nl Housing Associations, Charitable Trust which is administered by a Committee with the delegated authority of the Federation. At the year end an amount of £12,110 {2024 . £8,110) was owing from the charity to Northern Ireland Federation of Housing Associations. 12