_**Alpha Housing (Northern Ireland) Ltd Year Ended 31 March 2023**_ ## **Statement of Comprehensive Income** ## **For the year ended 31 March 2023** |**Notes**
Turnover
**3**
Operating costs
**3**
**Operating surplus / (deficit)**
Gain / (loss) on disposal of fixed
assets
Interest payable
**7**
Interest receivable
Finance costs
**Surplus / (deficit) before tax**
Taxation
**Surplus / (deficit) after tax**
**Other comprehensive income**
Unrealised surplus / (deficit) on
revaluation of housing properties
**Total comprehensive income for**
**the year**|**2023**
**£**
6,600,858
6,072,461
528,397
-
(2,612)
20,476
(49,905)
496,356
-
496,356
-
-
496,356|2022
£
6,143,818
5,463,959| |---|---|---| |||679,859
1,310
(6,708)
5,510
(50,504)| |||629,467
-| |||629,467
-
629,467| The notes on pages 22 to 33 form part of these financial statements. **16** ## _**Alpha Housing (Northern Ireland) Ltd Year Ended 31 March 2023**_ ## **Statement of Changes in Equity** **For the year ended 31 March 2023** |Balance at 1 April 2022
Surplus / (deficit) for the year
Other comprehensive income
Transfers between reserves
Issue of share capital
**Balance at 31 March 2023**|**Share Capital**
**Capital reserve**
**Revenue**
**reserve**
**Total**
**£**
**£**
**£**
**£**
20
69
13,480,266
13,480,355
496,356
496,356
-
(2)
2
-
4
(4)
-
**22**
**67**
**13,976,622**
**13,976,711**| |---|---| The notes on pages 22 to 33 form part of these financial statements. **17** _**Alpha Housing (Northern Ireland) Ltd Year Ended 31 March 2023**_ ## **Statement of Financial Position** **As at 31 March 2023** |**Notes**
**Fixed assets**
Housing properties
**12**
Other tangible fixed assets
**14**
**Current assets**
Trade and other debtors
**15**
Cash and cash equivalents
Less: Creditors: amounts falling due
within one year
**16**
**Net current assets / liabilities**
**Total assets less current liabilities**
Creditors: amounts falling due after more
than one year
**16**
**Total net assets**
**Reserves**
Share capital
**19**
Revenue reserve
Capital reserve
**20**
**Total reserves**|**2023**
**£**
**31,937,841**
**571,541**
**32,509,382**
**1,463,252**
**1,852,649**
**3,315,901**
**(2,573,924)**
**741,977**
**33,251,359**
**(19,274,648)**
**13,976,711**
**22**
**13,976,622**
**67**
**13,976,711**|2022
£
30,515,760
543,466| |---|---|---| |||31,059,226| |||242,851
3,609,098| |||3,851,949| |||(2,234,590)| |||1,617,359| |||32,676,585| |||(19,196,230)| |||13,480,355| |||20
13,480,266
69
13,480,355| These financial statements were approved by the Board of Management and authorised for issue on 21st September 2023 and signed on its behalf by: Mr John Glass Chairman Irene Kingston Mr K Dempsey Secretary Vice Chair The notes on pages 22 to 33 form part of these financial statements. **18** _**Alpha Housing (Northern Ireland) Ltd Year Ended 31 March 2023**_ ## **Statement of Cash Flows** ## **For the year ended 31 March 2023** |**Notes**
Net cash inflow / outflow from operating
activities
**A**
Returns on investments and servicing of
finance
**B**
Capital expenditure and financial investment
**B**
Cash inflow / outflow before use of liquid
resources and financing
Financing
**B**
**Reconciliation of net cash flow**
Cash at 1 April 2022
Increase / decrease in cash in period
**Cash at 31 March 2023**||**2023**
**£**
**469,949**
**(32,041)**
**(2,163,514)**
**(1,725,606)**
**(30,843)**
**(1,756,449)**
**3,609,098**
**(1,756,449)**
**1,852,649**||**2022**
**£**
1,692,478
(51,702)
(2,115,919)| |---|---|---|---|---| |||||(475,143)| |||||(45,443)| |||||(520,586)| |||||4,129,684
(520,586)
**3,609,098**| The notes on pages 22 to 33 form part of these financial statements. **19** _**Alpha Housing (Northern Ireland) Ltd Year Ended 31 March 2023**_ ## **Notes to Statement of Cash Flows** ## **For the year ended 31 March 2023** ## **A. Reconciliation of operating surplus / (deficit) to operating cashflows** |Operating surplus / deficit
Depreciation
Amortisation of grant
Movements in:
Rent arrears
Other debtors
Creditors
**Net cash inflow / outflow from operating**
**activities**
**B. Analysis of cash flows for headings netted in the**
**Returns on investment and servicing of**
**finance**
Interest received
Bank charges
**Net cash inflow / (outflow) for returns on**
**investment and servicing of finance**
**Capital expenditure and financial investment**
Other fixed assets
Housing, land and buildings
Capital grant received
Proceeds from sale of tangible fixed assets
**Net cash inflow / (outflow) for capital**
**expenditure and financial investment**
**Financing**
Loan principal repayments
**Net cash inflow / (outflow) from financing**|**2023**
**£**
2022
£
528,397
679,859
1,617,738
1,733,628
(843,533)
(835,444)
(7,388)
(6,932)
(760,995)
234,420
(64,270)
(113,053)
**469,949**
**1,692,478**
**cash flow statement**
**2023**
**£**
2022
£
20,476
5,510
(52,517)
(57,212)
**(32,041)**
**(51,702)**
(118,456)
-
(2,718,983)
(2,165,873)
673,925
48,644
-
1,310
**2,163,514**
**(2,115,919**
**)**
30,843
(45,443)
**30,843**
**(45,443)**|**2023**
**£**
2022
£
528,397
679,859
1,617,738
1,733,628
(843,533)
(835,444)
(7,388)
(6,932)
(760,995)
234,420
(64,270)
(113,053)
**469,949**
**1,692,478**
**cash flow statement**
**2023**
**£**
2022
£
20,476
5,510
(52,517)
(57,212)
**(32,041)**
**(51,702)**
(118,456)
-
(2,718,983)
(2,165,873)
673,925
48,644
-
1,310
**2,163,514**
**(2,115,919**
**)**
30,843
(45,443)
**30,843**
**(45,443)**|**2023**
**£**
2022
£
528,397
679,859
1,617,738
1,733,628
(843,533)
(835,444)
(7,388)
(6,932)
(760,995)
234,420
(64,270)
(113,053)
**469,949**
**1,692,478**
**cash flow statement**
**2023**
**£**
2022
£
20,476
5,510
(52,517)
(57,212)
**(32,041)**
**(51,702)**
(118,456)
-
(2,718,983)
(2,165,873)
673,925
48,644
-
1,310
**2,163,514**
**(2,115,919**
**)**
30,843
(45,443)
**30,843**
**(45,443)**| |---|---|---|---| ||||**(51,702)**
-
(2,165,873)
48,644
1,310| ||||**(2,115,919**
**)**
(45,443)| ||||**(45,443)**| **20** _**Alpha Housing (Northern Ireland) Ltd Year Ended 31 March 2023**_ ## **Notes to Statement of Cash Flows (cont’d)** ## **For the year ended 31 March 2023** ## **C. Analysis of changes in net funds** |Cash in hand and at bank
Bank Loans|**At**
**01/04/22**
**£**
**3,609,098**
**(53,143)**
**3,555,955**|**Cashflows**
**£**
(1,756,449)
(30,843)
(1,787,292)|**Other**
**Changes**
**£**
-
-
**-**|**At**
**31/03/23**
**£**
**1,852,649**
**(22,300)**| |---|---|---|---|---| |||||**1,830,349**| **21** _**Alpha Housing (Northern Ireland) Ltd Year Ended 31 March 2023**_ ## **Notes to the financial statements** ## **1. Legal status** Alpha Housing (Northern Ireland) Ltd is a housing association registered in Northern Ireland in the United Kingdom under the Credit Unions and Co-operative and Community Benefit Societies Act (Northern Ireland) 2016 (formerly known as the Industrial and Provident Societies Act (Northern Ireland) 1969). The registered office of the Association is Alpha House, 6 Edgewater Road, Belfast, BT3 9JQ. ## **2. Accounting Policies** ## **2.1 Basis of accounting** These financial statements have been prepared in accordance with Financial Reporting Standard 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’ and the Statement of Recommended Practice (“SORP”) for Registered Social Housing Providers. The financial statements are presented in Sterling (£), which is the functional currency of the Association. ## **2.2 Revenue recognition** Revenue is recognised when the Association has entitlement to the funds and it is probable that the income will be received and the amount is reliably measured. Turnover includes rental and service charge income, rates receivable and residential charges, net of voids, and release of Social Housing Grants. Rental income for each rental period (rent week) is recognised in full on the first day of the rent week i.e. when the rent falls due. ## **2.3 Government and other grants** Social housing grant (SHG) or Housing Association Grant (HAG) is receivable from the Northern Ireland Housing Executive (NIHE) and is recognised in income over the useful life of the housing property structure under the accruals model. SHG or HAG due is included as a current asset. SHG or HAG received in advance is included as a liability. SHG or HAG received in respect of revenue expenditure is credited to the income and expenditure account in the same period as the expenditure to which it relates. SHG or 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** _**Alpha Housing (Northern Ireland) Ltd Year Ended 31 March 2023**_ ## **2.4 Tangible fixed assets** ## **Housing properties** Housing stock are properties held for the provision of social housing or to otherwise provide social benefit and are accounted for within tangible fixed assets. Housing properties are principally available for rent and are stated at cost less accumulated depreciation and any accumulated impairment losses. Cost includes the cost of acquiring land and buildings, development costs, interest charges incurred during the development period. Works to existing properties which replace a component that has been treated separately for depreciation purposes, along with those works that result in an increase in net rental income over the lives of the properties, thereby enhancing the economic benefits of the assets, are capitalised as improvements. ## **Depreciation of Housing properties** The Association separately identifies the major components which comprise its housing properties, and charges depreciation, so as to write-down the cost of each component to its estimated residual value, on a straight line basis, over its estimated useful life. The Association depreciates the major components of its housing properties using the following useful lives: |Land|-|Not depreciated| |---|---|---| |Structure/main fabric|-|60 years| |Roof|-|45 years| |Bathroom|-|30 years| |Mechanical systems|-|30 years| |Electrics|-|30 years| |Windows and doors|-|25 years| |Kitchen|-|20 years| |Lifts|-|20 years| |Primary heating unit|-|15 years| |Fire alarm system|-|15 years| |Warden call system|-|10 years| ## **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: |Leasehold building|-|60 years| |---|---|---| |Scheme furniture and equipment|-|Between 3 and 5 years| |Motor vehicles|-|4 years| |Office furniture and equipment|-|Between 4 and 10 years| **23** _**Alpha Housing (Northern Ireland) Ltd Year Ended 31 March 2023**_ ## **2.5 Impairment** Housing properties are assessed annually for impairment indicators. Where indicators are identified an assessment for impairment is undertaken comparing the asset’s carrying amount to its recoverable amount. Where the carrying amount of an asset is deemed to exceed its recoverable amount, the asset is written down to its recoverable amount, this is likely to be the fair value in use of the asset based on its service potential. The resulting impairment loss is recognised as expenditure in income and expenditure. Where an asset is currently deemed not to be providing service potential to the association, its recoverable amount is its fair value less costs to sell. Other assets are reviewed for impairment if there is an indication that impairment may have occurred. ## **2.6 Employee benefits** ## **Defined Contribution Pension** The Association operates a defined contribution scheme for certain employees. A defined contribution plan is a pension plan under which the Association pays fixed contributions into a separate entity. Once the contributions have been paid the Association has no further payment obligations. The contributions are recognised as an expense when they are due. Amounts not paid are 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 repayments, that arise from the sale of property to tenants under the voluntary purchase grant arrangements, instituted by the Department for Communities, can be utilised by the Association. If the 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** _**Alpha Housing (Northern Ireland) Ltd Year Ended 31 March 2023**_ ## **2.11 Financial instruments** The Association only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. ## **2.12 Judgements in applying accounting policies and key sources of estimation uncertainty** No judgements have been made in the process of applying the above accounting policies (apart from those involving estimates). There were no key assumptions made concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year. ## **2.13 Going concern** After making appropriate enquiries, 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. ## **3. Turnover, Operating costs and operating surplus** |Social Housing Activities
(Note 4)
Non-Social Housing
Activities (Note 5)|**Operating**
**Turnover**
6,424,385
176,473
**6,600,858**|**2023 £**
**Operating**
**Costs**
5,835,047
237,414
**6,072,461**|**Operating**
**Surplus/**
**(deficit)**
589,338
(60,941)
**528,397**|2022 £
Operating
Surplus/
(deficit)
684,859
(5,000)
**679,859**| |---|---|---|---|---| **25** _**Alpha Housing (Northern Ireland) Ltd Year Ended 31 March 2023**_ ## **4. Turnover, operating costs and operating surplus/(deficit) from social housing activities** |**Operating Income**
Rent Receivable
Service Charges Receivable
Rates Receivable
Support Charges Receivable - Supporting People
Support Charges Receivable - Tenants
Direct Emergency Funding – Covid 19
Income from SHG/HAG
Income from Other Grants
Less: Voids
**Total Social Housing Income**
**Operating Costs**
Service Costs
Service Costs – Covid 19
Support Costs
Support Costs – Covid 19
Tenants Support
Management Costs
Rates Payable
Maintenance Administration costs
Planned & Cyclical Maintenance
Reactive Maintenance
Major Repairs (not capitalised)
Bad Debts Written Off
Depreciation of Housing Properties
Other Depreciation
Transfer to/(from) Tenants’ Services Fund
**Total Social Housing Expenditure**
**Operating surplus/(deficit) on social housing**|**2023 £**
**General**
**Sheltered**
**Total**
415,706
3,352,424
3,768,130
19,411
931,685
951,096
55,655
446,460
502,115
-
298,508
298,508
-
148,031
148,031
-
2,289
2,289
64,615
737,298
801,913
1,669
97,681
99,350
(8,736)
(138,311)
(147,047)
**548,320**
**5,876,065**
**6,424,385**
15,527
1,016,271
1,031,798
-
-
-
-
508,794
508,794
-
7,227
7,227
44
16,059
16,103
91,063
926,574
1,017,637
55,655
449,899
505,554
12,021
176,694
188,715
8,515
341,520
350,035
54,142
644,409
698,551
5,378
71,700
77,078
-
-
-
153,498
1,373,859
1,527,357
56
13,709
13,765
(3,327)
(104,240)
(107,567)
**392,572**
**5,442,475**
**5,835,047**
**155,748**
**433,590**
**589,338**|**2022 £**
**Total**
3,565,598
836,023
488,700
278,492
123,649
143,376
792,359
43,087
(219,842)| |---|---|---| |||**6,051,442**| |||806,014
-
452,699
34,536
14,107
910,622
486,818
136,852
53,936
646,507
139,020
-
1,660,666
11,013
13,793| |||**5,366,583**| |||**684,859**| **26** _**Alpha Housing (Northern Ireland) Ltd Year Ended 31 March 2023**_ ## **4. Turnover, operating costs and operating surplus / (deficit) from social housing activities (cont’d)** **----- Start of picture text -----**
|||| |---|---|---| |DfC Allowances|2023|2022| |£|£| |Management allowances|34,056|32,076| |Management costs|(91,063)|(88,285)| |Surplus/ (deficit)|(57,007)|(56,209)| |Maintenance allowances|39,904|37,584| |Planned and cyclical maintenance|(8,515)|(4,471)| |Reactive maintenance|(54,142)|(49,264)| |Maintenance administration|(12,021)|(10,479)| |Surplus/ (deficit)|(34,774)|(26,630)| |Technical & Non-Technical Income| |2023|2022| |£|£| |Technical|3,498,295|3,212,609| |Non-Technical|2,024,828|2,003,388| |Total|5,523,123|5,215,997| |5.|Turnover, operating costs and operating surplus/(deficit) from non-social| |housing activities| |2023|2022| |£|£| |Operating Income| |Development|176,473|92,376| |-|-| |Management Services| |Other Income|-|-| |Total Non-Social Housing Income|176,473|92,376| |Operating Costs| |Development Costs|237,414|97,376| |-|-| |Pension charge / (credit)| |Other Costs|-|-| |Total Non-Social Housing Expenditure|237,414|97,376| |Operating surplus/(deficit) on non-social housing|(60,941)|(5,000)| **----- End of picture text -----**
**27** _**Alpha Housing (Northern Ireland) Ltd Year Ended 31 March 2023**_ ## **6. Surplus on ordinary activities** Surplus on ordinary activities is stated after charging / (crediting): |Depreciation – owned tangible fixed assets
Amortisation of grant / Release of capital grant
Auditor’s remuneration
-
External audit of these financial statements
-
Internal audit
**7.**
**Interest payable**
Bank overdrafts
Bank loans
Other Loans
**Total**|**2023**
**£**
**1,617,738**
**(843,533)**
**14,400**
**10,710**
**2023**
**£**
**-**
**-**
**2,612**
**2,612**|**2022**
**£**
1,733,626
(835,444)
6,980
9,180| |---|---|---| |||**2022**
**£**
**-**
**-**
**6,708**
**6,708**| ## **8. Employee information** Average monthly number of employees during the financial year expressed as full-time equivalents is as follows: |Administration
Housing, support and care
**Total**
Staff costs
Wages and salaries
Social security costs
Pension costs
**Total**|**2023**
**No.**
**19**
**26**
**45**
**2023**
**£**
**1,451,635**
**108,684**
**121,136**
**1,681,455**|**2022**
**No.**
21
25| |---|---|---| |||46| |||**2022**
**£**
1,234,679
83,960
100,603
1,419,242| The remuneration, including benefits in kind, of the management team of the Association during the year was: |Aggregate emoluments
Pension Contributions
**Total**|**2023**
**£**
**369,152**
**39,952**
**409,104**|**2022**
**£**
275,935
32,226
308,161| |---|---|---| **28** _**Alpha Housing (Northern Ireland) Ltd Year Ended 31 March 2023**_ ## **9. Employee information (cont’d)** The emoluments payable to the highest paid management team member (currently included within the above table) are as follows: |Aggregate emoluments
Pension Contributions|**2023**
**£**
**90,151**
**15,802**
**105,953**|**2022**
**£**
**84,908**
**14,850**
**99,758**| |---|---|---| ## **10. Board of Management remuneration** There was no remuneration paid to the Board of Management of the Association (2021: £Nil). The Board of Management members were paid out of pocket expenses totalling £nil (2021: £nil). The number of management team members to whom emoluments were paid during the year falls within each of the following bands: |100,000-105,000
95,000- 100,000
75,000 – 80,000
60,000 – 65,000
55,000 – 60,000
50-000 – 55,000
45,000 – 50,000
25,000 – 30,000
15,000 – 20,000
5,000 – 10,000
0-5,000
**Total**|**2023**
**2022**
**No.**
**No.**
**1**
1
**1**
**1**
**1**
**1**
3
**1**
1
1
**1**
2
**7**
8| |---|---| ## **11. Finance costs** |Finance costs|**2023**
**2022**
**£**
**£**
**49,905**
**50,504**
**49,905**
**50,504**| |---|---| **29** _**Alpha Housing (Northern Ireland) Ltd Year Ended 31 March 2023**_ ## **12. Tangible fixed assets – Housing properties** |**Cost or valuation**
At 1 April 2022
Additions
Disposals
At 31 March 2023
Completed
Work in progress
**Depreciation and impairment**
At 1 April 2022
Charge for the year
Impairment charged in year
Eliminated on disposal
At 31 March 2023
**Net book value**
**At 31 March 2023**
At 31 March 2022|**Housing properties**
**held for letting**
**£**
**57,112,017**
**2,949,438**
**(389,882)**| |---|---| ||**59,671,573**| ||**59,349,464**| ||**322,109**| ||**26,596,257**
**1,527,357**
**(389,882)**| ||**27,733,732**| ||| ||**31,937,841**
30,515,760| ## **13. Housing Stock** **Number of units owned and managed at year end** |**Self-Contained**
General Needs Housing
Supported Housing
Sheltered Housing
Shared Ownership/ Affordable Housing
**Total Units Owned and Managed at year end**|**2023**
**Properties**
**86**
**896**
**982**
**982**|2022
Properties
_(Restated)_
86
-
882
-
968
968| |---|---|---| **30** _**Alpha Housing (Northern Ireland) Ltd Year Ended 31 March 2023**_ ## **14. Other tangible fixed assets** |**Leasehold**
**building**
**£**
Cost or valuation
At 1 April 2022
665,988
Additions
Disposals
At 31 March 2023
665,988
Depreciation
At 1 April 2022
211,775
Charge for the year
18,567
Eliminated on disposal
-
At 31 March 2023
230,342
**Net book value**
**At 31 March 2023**
**435,646**
At 31 March 2022
**454,213**
**15. Debtors**
Gross rental debtors – Technical
Gross rental debtors – Non-Technical
Provision for bad debt
Net rental debtors
Housing Association Grant receivable
Prepayments and accrued income
Other debtors|**Furniture**
**and**
**equipment**
**Motor**
**vehicles**
**£**
**£**
434,095
34,399
74,071
44,385
508,166
78,784
368,341
10,900
51,968
19,846
-
-
420,309
30,746
**87,857**
**48,038**
**65,754**
**23,499**
**2023**
**£**
**91,019**
**14,038**
**(10,197)**
**94,860**
**1,085,977**
**212,876**
**69,539**
**1,463,252**|**Total**
**£**
1,134,482
118,456| |---|---|---| |||1,252,938| |||591,016
90,381
-| |||681,397| |||| |||**571,541**
**543,466**
2022
£
**83,859**
**13,810**
**(10,528)**
**87,141**
**25,641**
**75,646**
**54,423**
**242,851**| **31** _**Alpha Housing (Northern Ireland) Ltd Year Ended 31 March 2023**_ ## **16. Creditors** Amounts falling due within 1 year |Loans
Housing Association Grant in advance
Deferred Housing Association Grant
Disposal Proceeds Fund
Accruals and deferred income
Rent and service charges received in advance
Tenants’ Services Fund
Trade Creditors
Other creditors
**Total**
Amounts falling due after more than 1 year
Loans (see analysis below)
Deferred Housing Association Grant
Loans
Within one year
Between one and two years
Between two and five years
In five years or more|**2023**
**£**
**22,300**
**780,604**
**858,768**
**-**
**372,294**
**45,105**
**56,747**
**381,980**
**56,126**
**2,573,924**
**2023**
**£**
**-**
**19,274,648**
**19,274,648**
**2023**
**£**
**22,300**
**-**
**-**
**-**
**22,300**||2022
£
30,844
384,409
849,373
-
170,576
154,491
164,315
445,325
35,257
2,234,590
2022
£
22,299
19,173,931
19,196,230
2022
£
30,844
22,299
-
53,143|2022
£
30,844
384,409
849,373
-
170,576
154,491
164,315
445,325
35,257| |---|---|---|---|---| |||||2,234,590| Loans are secured by specific charges on the Association’s properties and are repayable at varying rates of interest in instalments due as above. **17. Deferred grant** |At 1 April
Grant recognised in the year
Released to income in the year
At 31 March|**2023**
**£**
20,023,304
953,649
(843,553)
20,133,400|2022
£
20,289,603
569,145
(835,444)
20,023,304| |---|---|---| **32** _**Alpha Housing (Northern Ireland) Ltd Year Ended 31 March 2023**_ ## **18. Capital commitments** At 31 March 2023 the Association had capital commitments as follows: |Contracted for but not provided in the financial
statements|**2023**
**£**
**1,827,500**
**1,827,500**|2022
£
934,323
934,323| |---|---|---| ## **19. Contingent Liabilities** The Association released Housing Association Grant to income during the year in accordance with the Housing SORP. 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. ## **20. Share capital** Ordinary shares of £1 each fully paid: |At 1 April 2022
Issued in the year
Shares Issued
Transferred to capital reserve
At 31 March 2023|**2023**
**£**
**20**
**4**
**(2)**
**22**|2022
£
**19**
**6**
**(5)**
**20**| |---|---|---| ## **21. Capital reserves** |At 1 April 2022
Shares Issued
Transferred from share capital
At 31 March 2023|**2023**
**£**
**69**
**(4)**
**2**
**67**|2022
£
70
(6)
5
69| |---|---|---| ## **22. Related party transactions** There were no related party transactions during the year. **33**