_**Alpha Housing (Northern Ireland) Ltd Year Ended 31 March 2024**_ ## **Independent Auditor’s Report (cont’d)** 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. ## **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 auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: - We considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following areas: timing of recognition of income; and posting of unusual journals along with complex transactions. We discussed these risks with client management, designed audit procedures to test the timing of income, tested a sample of journals to confirm they were appropriate 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.org.uk/auditorsresponsibilities. This description forms part of our auditors’ report. ## **Use of our report** This report is made solely to the Board of Management, in accordance with Article 38 of the Co-operative and Community Benefit Societies Act (Northern Ireland) 2016 (formerly the Industrial and Provident Societies Act (Northern Ireland) 1969). Our audit work has been undertaken so that we might state to the Board of Management those matters that we are required to state to them in an auditors’ report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Society and the Board of Management, for our audit work, for this report, or for the opinion we have formed. **14** _**Alpha Housing (Northern Ireland) Ltd Year Ended 31 March 2024**_ Amanda McMaw (Senior Statutory Auditor) For and on behalf of Sumer AuditCo NI Ltd Statutory Auditors Glendinning House 6 Murray Street Belfast BT1 6DN 26 September 2024 **15** _**Alpha Housing (Northern Ireland) Ltd Year Ended 31 March 2024**_ ## **Statement of Comprehensive Income** ## **For the year ended 31 March 2024** |**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**|**2024**
**£**
7,246,763
6,268,518
978,245
(32,902)
(8,216)
17,806
(48,922)
906,011
-
906,011
-
-
906,011|2023
£
6,600,858
6,072,461| |---|---|---| |||528,397
-
(2,612)
20,476
(49,905)| |||496,356
-| |||496,356
-
-
496,356| The notes on pages 20 to 33 form part of these financial statements. **16** _**Alpha Housing (Northern Ireland) Ltd Year Ended 31 March 2024**_ ## **Statement of Changes in Equity** **For the year ended 31 March 2024** |Balance at 1 April 2023
Surplus / (deficit) for the year
Other comprehensive income
Transfers between reserves
Issue of share capital
**Balance at 31 March 2024**|**Share Capital**
**Capital reserve**
**Revenue**
**reserve**
**Total**
**£**
**£**
**£**
**£**
**22**
**67**
**13,976,622**
**13,976,711**
906,011
906,011
(6)
6
-
1
-
1
**17**
**73**
**14,882,633**
**14,882,723**| |---|---| The notes on pages 20 to 33 form part of these financial statements. **17** _**Alpha Housing (Northern Ireland) Ltd Year Ended 31 March 2024**_ ## **Statement of Financial Position** **As at 31 March 2024** |**Notes**
**Fixed assets**
Housing properties
**11**
Other tangible fixed assets
**13**
**Current assets**
Trade and other debtors
**14**
Cash and cash equivalents
Less: Creditors: amounts falling due
within one year
**15**
**Net current assets / liabilities**
**Total assets less current liabilities**
Creditors: amounts falling due after more
than one year
**15**
**Total net assets**
**Reserves**
Share capital
**19**
Revenue reserve
Capital reserve
**20**
**Total reserves**|**2024**
**£**
**36,030,293**
**665,076**
**36,695,369**
**8,152,332**
**1,776,251**
**9,928,583**
**(11,138,338)**
**(1,209,755)**
**35,485,614**
**(20,602,891)**
**14,882,723**
**17**
**14,882,633**
**73**
**14,882,723**|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| These financial statements were approved by the Board of Management and authorised for issue on 26[th] September 2024 and signed on its behalf by: Mr John Glass Chairman Ms Irene Kingston Secretary Mr Kieran Dempsey Vice Chair The notes on pages 20 to 33 form part of these financial statements. **18** _**Alpha Housing (Northern Ireland) Ltd Year Ended 31 March 2024**_ ## **Statement of Cash Flows** ## **For the year ended 31 March 2024** |**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
Increase / decrease in cash in period
**Cash at 31 March**||**2024**
**£**
**1,492,912**
**(39,332)**
**(4,013,233)**
**(2,559,653)**
**2,483,255**
**(76,398)**
**1,852,649**
**(76,398)**
**1,776,251**|**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| The notes on pages 20 to 33 form part of these financial statements. **19** _**Alpha Housing (Northern Ireland) Ltd Year Ended 31 March 2024**_ ## **Notes to Statement of Cash Flows** ## **For the year ended 31 March 2024** ## **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
Interest paid
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 drawdown
Loan principal repayments
**Net cash inflow / (outflow) from financing**|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
Interest paid
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 drawdown
Loan principal repayments
**Net cash inflow / (outflow) from financing**|**2024**
**£**
2023
£
**978,245**
528,397
**1,826,565**
1,617,738
**(866,633)**
(843,533)
**(27,383)**
(7,388)
**(41,979)**
(760,995)
**(375,903)**
(64,270)
**1,492,912**
469,949
**cash flow statement**
**2024**
**£**
2023
£
17,806
20,476
(8,216)
(2,612)
(48,922)
(49,905)
**(39,332)**
**(32,041)**
(177,037)
(118,456)
(5,728,683)
(2,718,983)
1,892,487
673,925
-
-
**(4,013,233)**
**(2,163,514)**
3,000,000
-
(516,745)
30,843
**2,483,255**
**30,843**|**2024**
**£**
2023
£
**978,245**
528,397
**1,826,565**
1,617,738
**(866,633)**
(843,533)
**(27,383)**
(7,388)
**(41,979)**
(760,995)
**(375,903)**
(64,270)
**1,492,912**
469,949
**cash flow statement**
**2024**
**£**
2023
£
17,806
20,476
(8,216)
(2,612)
(48,922)
(49,905)
**(39,332)**
**(32,041)**
(177,037)
(118,456)
(5,728,683)
(2,718,983)
1,892,487
673,925
-
-
**(4,013,233)**
**(2,163,514)**
3,000,000
-
(516,745)
30,843
**2,483,255**
**30,843**|**2024**
**£**
2023
£
**978,245**
528,397
**1,826,565**
1,617,738
**(866,633)**
(843,533)
**(27,383)**
(7,388)
**(41,979)**
(760,995)
**(375,903)**
(64,270)
**1,492,912**
469,949
**cash flow statement**
**2024**
**£**
2023
£
17,806
20,476
(8,216)
(2,612)
(48,922)
(49,905)
**(39,332)**
**(32,041)**
(177,037)
(118,456)
(5,728,683)
(2,718,983)
1,892,487
673,925
-
-
**(4,013,233)**
**(2,163,514)**
3,000,000
-
(516,745)
30,843
**2,483,255**
**30,843**| |---|---|---|---|---| |||||| |||||| |||||**30,843**| **20** _**Alpha Housing (Northern Ireland) Ltd Year Ended 31 March 2024**_ ## **Notes to Statement of Cash Flows (cont’d)** ## **For the year ended 31 March 2024** ## **C. Analysis of changes in net funds** |Cash in hand and at bank
Bank Loans|**At**
**01/04/23**
**£**
**1,852,649**
**(22,300)**
**1,830,349**|**Cashflows**
**£**
(76,398)
(2,483,255)
(2,559,653)|**Other**
**Changes**
**£**
-
-
**-**|**At 31/03/24**
**£**
**1,776,251**
**(2,505,555)**| |---|---|---|---|---| |||||**(729,304)**| **21** _**Alpha Housing (Northern Ireland) Ltd Year Ended 31 March 2024**_ ## **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 2024**_ ## **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| |Adaptations|-|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 Furniture and equipment - Between 3 and 10 years Motor vehicles - 4 years **23** _**Alpha Housing (Northern Ireland) Ltd Year Ended 31 March 2024**_ ## **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 2024**_ ## **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**
7,092,239
154,524
7,246,763|**2024 £**
**Operating**
**Costs**
6,113,994
154,524
6,268,518|**Operating**
**Surplus/**
**(deficit)**
**978,245**
**-**
**978,245**|2023 £
Operating
Surplus/
(deficit)
589,338
(60,941)
528,397| |---|---|---|---|---| **25** ## _**Alpha Housing (Northern Ireland) Ltd Year Ended 31 March 2024**_ ## **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
Support Costs
Support Costs – Covid 19
Tenants Support
Management Costs
Rates Payable
Maintenance Administration costs
Planned & Cyclical Maintenance
Reactive Maintenance
Major Repairs (not capitalised)
Depreciation of Housing Properties
Other Depreciation
Transfer to/(from) Tenants’ Services Fund
**Total Social Housing Expenditure**
**Operating surplus/(deficit) on social housing**|**2024 £**
**General**
**Sheltered**
**Total**
457,277
3,732,292
4,189,569
20,117
1,020,431
1,040,548
59,204
481,691
540,895
-
315,806
315,806
-
150,603
150,603
-
-
-
66,872
760,058
826,930
1,669
133,909
135,578
(1,296)
(106,394)
(107,690)
**603,843**
**6,488,396**
**7,092,239**
21,963
1,155,285
1,177,248
-
531,671
531,671
-
-
-
91
24,423
24,514
88,234
866,968
955,202
59,204
479,900
539,104
13,928
179,217
193,145
5,486
237,376
242,862
65,802
729,919
795,721
5,124
49,762
54,886
153,674
1,589,389
1,743,063
56
13,172
13,228
2,028
(158,678)
(156,650)
**415,590**
**5,698,404**
**6,113,994**
**188,253**
**789,992**
**978,245**|**2023 £**
**Total**
3,768,130
951,096
502,115
298,508
148,031
2,289
801,913
99,350
(147,047)| |---|---|---| |||**6,424,385**| |||1,031,798
508,794
7,227
16,103
1,017,637
505,554
188,715
350,035
698,551
77,078
1,527,357
13,765
(107,567)
**5,835,047**| |||**589,338**| **26** _**Alpha Housing (Northern Ireland) Ltd Year Ended 31 March 2024**_ ## **4. Turnover, operating costs and operating surplus / (deficit) from social housing activities (cont’d)** ||**DfC Allowances**|**2024**|**2023**|| |---|---|---|---|---| |||**£**|**£**|| ||**Management allowances**|34,056|34,056|| ||Management costs|(88,234)|(91,063)|| ||**Surplus/ (deficit)**|**(54,178)**|**(57,007)**|| ||**Maintenance allowances**|
39,904|39,904|| ||Planned and cyclical maintenance|(5,486)|(8,515)|| ||Reactive maintenance|(65,802)|(54,142)|| ||Maintenance administration|(13,928)|(12,021)|| ||**Surplus/ (deficit)**|**(45,312)**|**(34,774)**|| ||**Technical & Non-Technical Income**|||| |||**2024**|**2023**|| |||**£**||**£**| ||Technical|3,810,686|3,498,295|| ||Non-Technical|2,319,045|2,024,828|| ||**Total**|**6,129,731**|**5,523,123**|| |**5.**|**Turnover, operating costs and operating surplus/(deficit)**|**from non-social**||| ||**housing activities**|||| |||**2024**|**2023**|| |||**£**|**£**|| ||**Operating Income**|||| ||Development|**154,524**|176,473|| ||**Total Non-Social Housing Income**|**154,524**|176,473|| ||**Operating Costs**|||| ||Development Costs|**154,524**|237,414|| ||**Total Non-Social Housing Expenditure**|**154,524**|237,414|| ||**Operating surplus/(deficit) on non-social housing**|**0**|(60,941)|| **27** _**Alpha Housing (Northern Ireland) Ltd Year Ended 31 March 2024**_ ## **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
**nterest payable**
Bank loans
Other Loans
**Total**|**2024**
**£**
**1,826,565**
**(866,633)**
**14,400**
**12,492**
**2024**
**£**
**7,390**
**826**
**8,216**|**2023**
**£**
1,617,738
(843,533)
14,400
10,710| |---|---|---| |||**2023**
**£**
**-**
**2,612**
**2,612**| ## **7. Interest payable** ## **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**|**2024**
**No.**
18
25
43
**2024**
**£**
**1,551,898**
**119,641**
**134,739**
**1,806,278**|**2023**
**No.**
19
26| |---|---|---| |||45| |||**2023**
**£**
1,451,635
108,684
121,136
1,681,455| The remuneration, including benefits in kind, of the management team of the Association during the year was: |Aggregate emoluments
Pension Contributions
**Total**|**2024**
**£**
**380,182**
**45,384**
**425,566**|**2023**
**£**
369,152
39,952
409,104| |---|---|---| **28** _**Alpha Housing (Northern Ireland) Ltd Year Ended 31 March 2024**_ ## **8. 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|**2024**
**£**
**96,251**
**16,830**
**113,081**|**2023**
**£**
**90,151**
**15,802**
**105,953**| |---|---|---| The number of management team members to whom emoluments were paid during the year falls within each of the following bands: |110,000-115,000
100,000-105,000
80,000- 85,000
75,000 – 80,000
60,000 – 65,000
55,000 – 60,000
50-000 – 55,000
45,000 – 50,000
35,000 – 40,000
5,000 – 10,000
0-5,000
**Total**|**2024**
**2023**
**No.**
**No.**
1
1
1
1
1
1
1
1
1
1
1
1
1
6
7| |---|---| ## **9. Board of Management remuneration** There was no remuneration paid to the Board of Management of the Association (2023: £nil). The Board of Management members were paid out of pocket expenses totalling £nil (2023: £nil). ## **10. Finance costs** |Finance costs|**2024**
**2023**
**£**
**£**
**48,922**
**49,905**
**48,922**
**49,905**| |---|---| **29** _**Alpha Housing (Northern Ireland) Ltd Year Ended 31 March 2024**_ ## **11. Tangible fixed assets – Housing properties** |**General**
**Needs**
**Sheltered**
**Schemes**
**£**
**£**
Cost or valuation
At 1 April 2023
8,754,174
50,917,399
Additions
4,415,121
1,453,296
Disposals
(17,657)
(484,614)
At 31 March 2024
13,151,638
51,886,081
Depreciation
At 1 April 2023
2,033,031
25,700,701
Charge for the year
225,295
1,517,768
Eliminated on disposal
(17,006)
(452,363)
At 31 March 2024
2,241,320
26,766,106
**Net book value**
**At 31 March 2024**
**10,910,318**
**25,119,975**
**Net book amount**
**comprises:**
Completed schemes
6,261,921
25,119,975
Properties under
construction
4,648,397
-
**10,910,318**
**25,119,975**
**12. Housing Stock**
**Number of units owned and managed at year end**
**Self-Contained**
General Needs Housing
Sheltered Housing
**Total Units Owned and Managed at year end**|**General**
**Needs**
**Sheltered**
**Schemes**
**£**
**£**
8,754,174
50,917,399
4,415,121
1,453,296
(17,657)
(484,614)|**2024**
**Total**
**£**
59,671,573
5,868,417
(502,271)
65,037,719
27,733,732
1,743,063
(469,369)
29,007,426
**36,030,293**
31,381,896
4,648,397
**36,030,293**
**2024**
**Properties**
**86**
**896**
**982**||**2023**
**Total**
**£**
57,112,017
2,949,438
(389,882)| |---|---|---|---|---| ||13,151,638
51,886,081|||59,671,573| ||2,033,031
25,700,701
225,295
1,517,768
(17,006)
(452,363)|||26,596,257
1,527,357
(389,882)| ||2,241,320
26,766,106|||27,733,732| |||||| ||**10,910,318**
**25,119,975**|||**31,937,841**| ||6,261,921
25,119,975
4,648,397
-
**10,910,318**
**25,119,975**|||31,605,732
332,109
**31,937,841**| |||||2023
Properties
**86**
**896**
982| **30** ## _**Alpha Housing (Northern Ireland) Ltd Year Ended 31 March 2024**_ ## **13. Other tangible fixed assets** |**Leasehold**
**building**
**£**
Cost or valuation
At 1 April 2023
665,988
Additions
-
Disposals
-
At 31 March 2024
665,988
Depreciation
At 1 April 2023
230,342
Charge for the year
18,568
Eliminated on disposal
-
At 31 March 2024
248,910
**Net book value**
**At 31 March 2024**
**417,078**
At 31 March 2023
**435,646**
**ebtors**
Gross rental debtors – Technical
Gross rental debtors – Non-Technical
Provision for bad debt
Net rental debtors
Housing Association Grant receivable
Prepayments and accrued income
Tenants’ Services Fund
Other debtors|**Furniture**
**and**
**equipment**
**Motor**
**vehicles**
**£**
**£**
508,166
78,784
177,037
-
-
-
685,203
78,784
420,309
30,746
45,146
19,788
-
-
465,455
50,534
**219,748**
**28,250**
**87,857**
**48,038**
**2024**
**£**
**108,558**
**21,338**
**(7,654)**
**122,242**
**7,566,191**
**267,777**
**99,902**
**96,220**
**8,152,332**|**Total**
**£**
1,252,938
177,037
-| |---|---|---| |||1,429,975| |||681,397
83,502
-| |||764,899| |||| |||**665,076**
**571,541**
2023
£
91,019
14,038
(10,197)
94,860
1,085,977
212,876
-
69,539
1,463,252| **14. Debtors** **31** _**Alpha Housing (Northern Ireland) Ltd Year Ended 31 March 2024**_ ## **15. Creditors** ## Amounts falling due within 1 year |Loans
Housing Association Grant in advance
Deferred Housing Association Grant
Accruals and deferred income
Rent and service charges received in advance
Tenants’ Services Fund
Trade Creditors
Other creditors
**Total**|**2024**
**£**
**2,505,554**
**6,452,219**
**1,311,141**
**450,448**
**42,919**
**-**
**301,293**
**74,764**
**11,138,338**|2023
£
22,300
780,604
858,768
372,294
45,105
56,747
381,980
56,126| |---|---|---| |||2,573,924| 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||**2024**
**£**
**-**
**20,602,891**
**20,602,891**
**2024**
**£**
**2,505,554**
**-**
**-**
**-**
**2,505,554**|2023
£
-
19,274,648
19,274,648
2023
£
22,300
-
-
-
22,300| |---|---|---|---| Loans are secured by specific charges on the Association’s properties and are repayable at varying rates of interest in instalments due as above. ## **16. Deferred grant** |At 1 April 2023
Grant recognised in the year
Released to income in the year
At 31 March 2024|**2024**
**£**
**20,133,400**
**2,647,238**
**(866,633)**
**21,914,005**|2023
£
20,023,304
953,649
(843,553)
20,133,400| |---|---|---| **32** _**Alpha Housing (Northern Ireland) Ltd Year Ended 31 March 2024**_ ## **17. Capital commitments** At 31 March 2024 the Association had capital commitments as follows: |Contracted for but not provided in the financial
statements|**2024**
**£**
**12,399,914**
**12,399,914**|2023
£
1,827,500
1,827,500| |---|---|---| ## **18. 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. The Association has a potential liability that at the date of approval of the financial statements is considered unlikely to be realised. In the unlikely event that a liability is realised it is expected that any costs associated with this matter will be reimbursed by the insurers. While it is not possible to estimate the remaining liability to the Association, it will not be material. ## **19. Share capital** Ordinary shares of £1 each fully paid: |At 1 April 2023
Issued in the year
Shares Issued
Transferred to capital reserve
At 31 March 2024
**20. Capital reserves**
At 1 April 2023
Shares Issued
Transferred from share capital
At 31 March 2024|**2024**
**£**
**22**
**1**
**(6)**
**17**
**2024**
**£**
**67**
**-**
**6**
**73**|2023
£
20
4
(2)
22
2023
£
69
(4)
2
67| |---|---|---| ## **21. Related party transactions** There were no related party transactions during the year. **33**