COMPANY REGISTRATION NUMBER: N1021018 CHARITY REGISTRATION NUMBER: NIC105735 Housing Rights Company Limited by Guarantee Financial Statements 31 March 2025 Finegan Gibson Ltd Chartered accountants & statutory auditor Causeway Tower 9 James Street South Belfast BT2 8DN
Housing Rights Company Limited by Guarantee Financial Statements Year ended 31 March 2025 Page Trustees, annual report (incorporating the director's report) Independent auditorfs report to the members Statement of financial activities (including income and expenditure account) 11 17 Statement of financial position Statement of cash flows 18 19 Notes to the financial statements 20
Housing Rights Company Limited by Guarantee Trustees. Annual Report {Incorporating the Director's Report) Year ended 31 March 2025 The trustees, who are also the directors for the purposes of company law, present their report and the financial statements of the charity for the year ended 31 March 2025. Reference and administrative details Registered charity name Housing Rights Charity registration number NIC105735 Company registration number N1021018 Principal office and registered 1st Floor office Skainos Centre 239-241 Newtownards Road Belfast BT4 1AF The trustees G Walsh E Millen U A O'Hare C O'Neill F Kelly D McAnena J Wilson K Greene L Baird P Brannigan P Morgan P O'callaghan P Quigley R Crozier (Resigned 6 February 2025) (Resigned 5 December 2024) Company secretary Catherine Mccauley Auditor Finegan Gibson Ltd Chartered accountants & ststutory auditor Causeway Tower 9 James Street South Belfast BT2 8DN Bankers Bank of Ireland 1 Donegall Square South Belfast BT15LR
Housing Rights Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) {contlnued) Year ended 31 March 2025 Solicitors Cleaver Fulton Rankin 50 Bedford Street Belfast BT2 7FW Structure, governance and management Governing Document Housing right is a company limited by guarantee govemed by it's Memorandum and Articles of Association dated 1st July 2014. Housing Rights is a registered charity with HMRC and the Charity Commission for Northern Ireland. Housing Rights 15 a membership organisation with currently 125 members, each of whom agrees to contribute £1 in the event of the charity winding up. Appointment of trustees The Chair and the Trustees recruit and select new Trustees as needed. New Trustees are recruited in line with the Memorandum and Articles of Association having regard to their professional skills, and their potential to be able to make a helpful Gontribution to the governan of the Gharity. As part of the recruitment process they are made aware of a Trustees, legal obligations under charity and Gompany law, the content of the Memorandum and Articles of Association, the committee and deGision making processes, the business plan and recent financial performance of the charity. Trustee induction and training All newly appointed trustees undergo a half-day induction session which includes meeting with key management personnel to cover:. general organisational background information., Trustees and Board responsibilities,. organisational projects; operations and policy; and business support. Arrangements for setting pay and remuneration of key management personnel The directors consider the board of directors, who are the charity's trustees, and the senior management team comprise the key management personnel of the charity in charge of directing and controlling, running and operating the charity on a day to day basis. All directors give of their time freely and no director received remuneration in the year. The pay of the senior staff is reviewed annually and nonnally increased in accordance with Northern Ireland Civil Service Pay Award5. In view of the nature of the charity, the directors benchmark against pay levels in other similar size charities run on a voluntary basis. The remuneration bench-mark is the mid-point of the range paid for similar roles adjusted for a weighting of up to 30 /0 for any additional
Housing Rights Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (contlnuedj Year ended 31 March 2025 responsibilities. Organisation structure and how charity makes decisions The Board, as the governing body, Can have up to 15 member5. The Board normally meets bi-monthly and the Office Bearers. known as the Executive Committee meet the months beeen Board meetings to ensure that the Board has everything it needs to do its job effectively. The Executive Committee will generally review the major issues facing the organisation and make preliminary recommendations to the full Board at the next meeting on matters, for example. such as business planning., operational policies and practices., membership applications- human resour¢es and remuneration of staff. A DirectorlCEO is appointed by the trustees to manage the day-to-day operations of the charity. To facilitate effective operations, the DirectorlCEO has delegated authority, within terms of delegation approved by the Board, for operational matters including finance, employment and direct charilable activities. The Board of Housing Rights has also established an Audit & Risk Committee (ARC), operational from May 2017, to support them in their responsibilities regarding issues of risk, control. governance, finance. audit and associated assurance. The ARC has delegated responsibility on behalf of the Board for ensuring that there is a framework for accountability,. for examining and reviewing all systems and methods of control both financial and otherwise including risk analysis and risk management. and for ensuring the charity is complying with all aspects of the law, relevant regulations and good praGtiGe. Relationships with related parties None of our trustees receive remuneration or other benefit from their work with the charity. Risk management The trustees have a risk management strategy which comprises: an annual review of the principal risks and uncertaintie5 that Ihe charity faces., the establishment of poliGies. systems and procedures to mitigate those risks identified in the annual review. and the implementation of procedures designed to minimise or manage any potential impact on the charity should those risks materialise. Oversight of risk and audit are devolved to an Audit and Risk Committee who meet at least quarterly. Key Risk There is an external risk with the Northern Ireland Charities Pension Scheme (now closed} impacting on the financial liability of Housing Rights to its pension commitments for that Scheme. The Board continue to proactively review and explore all options to assess and manage this risk effectively.
Housing Rights Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) {Gontinued) Year ended 31 March 2025 Objectives and activities The charity's objectives are to promote the following purposes for the public benefit.. The relief of poverty and the relief of those in need by reason of youth. age, ill health. disability, financial hardship or other disadvantage,. and in particular to assist those persons with necessitous circumstances in relation to housing matters,. and Such other exclusively charitable purpose according to the Law of Northem Ireland as the Directors may from time to time decide. Housing Rights believes that prevention of homelessness is the best cure. In Northern Ireland we work tirelessly to help more people to live in secure and affordable homes which will improve lives and promote well-being. The main strategic priorities of our work are listed below under the 3 key strategic outcomes in the Improving Lives section of our Strategic PSan 2024-29. These include.. 1. People live in good quality. affordable and sustainable homes that meet their needs. a. Prevent homelessness b. Improve housing circumstan5 for those in need 2. Peoples experience of homelessness when it does occur, is that it is rare. brief and non-recurring. a. Alleviate homelessness b. Support people most at risk of repeat homelessness 3. People have the help they need at the right time, in a way that best meets their needs a. Ensure people know where to go to get help with their housing problems b. Ensure people have access to timely. quality advice in a way that best meets their needs c. Ensure People have the infonmation they need to make decisions about their housing circumstances Further strategic priorities relating to influencing policy and practice and strengthening our capacity, are also included in our Plan. In shaping our priorities and objectives for the year and planning our activities. the trustees have considered the Charity Commission's guidance on public benefit. The strategies employed to achieve the charity's aims and objectives are through the provision of services. The following describes the main services operational during the pOrting year.. A Housing Advice line for members of the public and stafflvolunteers working in frontline agencies A public information website {www.housingrights.org.uklhousing-advice) Advocacy and legal representation work A Housing Possession Court Duty Scheme (Emergency help at court) Training on housing, homelessness and related issues Providing information resources on housing law and practice in Northern Ireland Client based policy comment A Community Housing Advice Partnership with generalist advice agencies throughout Nl A specialist housing advice service within the prisons in Nl
Housing Rights Company Llmited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) (continued) Year ended 31 March 2025 A service (Beyond the Gate) for the most vulnerable prisoners immediately after release in Northern Ireland to help prevent them from becoming homeless and to help them to sustain accommodation and access key support seNices Provision of a helpline on behalf of Lisburn and Castlereagh City Council to help landlords comply with their legal requirements and promote good practice in the Private Rented Sector. A Housing mediation service on behalf of the Lisburn and Casllereagh City Council to help resolve housing disputes in the private rented sector as an alternative to Court. A new and unique specialist housing advocacy and mediation service developed for and delivered to young people in Nl to help prevent homelessness and sustain accommodation; A Renters. Voice project to support private tenants to build a collective voice and influence change A participation project to ensure that decisions made about housing and homelessness are informed by the experiences of people affected.
Housing Rights Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (continued) Year ended 31 March 2025 Achievements and performance Significant achievements in the year included.. 1. Dealing with 13.364 contacts for advice on housing and homelessness issues across N.1. including an increase in digitsl advice to 330/0 of the provision with 4,406 contacts. 2. Preventing 1,120 households from becoming homeless,. Over 306.406 individual users viewed pages on our public information website (www.housingrights.org.uklhousing-advice) 4. Providing advice to 1,516 landlords Iletting agent contacts operating in the private sector to help promote statutory compliance and good practice., 5. Secured a redesign of the Landlord Registration funded PRS Mediation service, which following a public tendering competition. Housing Rights was successful in winning the contract for the service's delivery. In year, 235 landlords and tenants used the mediation service to help resolve their dispute. 6. Development and delivery of a unique specialist housing advocacy and mediation service to 303 young people during the year to help pvent homelessness. 7. Supported over 1350 practitioners through our tpining service with 960/0 of those attending reporting that they had up to date skills and knowledge on housing and homelessness as a consequence of their attendance. 8. Supported increased demand from sectoral partners for our advice with 2452 other practitioners supported through our helpline (a 220/0 increase on last year). 94 % of practitioners within partner agencies told us they were now better informed to give appropriate housing advice. 9. Influencing 35 recommendations and changes to housing policyllegislation, including the inclusion of housing as a priority in the Nl Executive Programme for Government. and specific recommendations on homelessness prevention in the Nl Audit Office report on homelessne5S. Furthermore, sections 7, 8 and 10 of the Private TenanGies Act became live, following extensive engagement with Housing Rights and the Department for Justice took on board Housing Rights concerns about new Antisocial Behaviour legislation, inviting Housing Rights to a working group on the issue. 10. Housing Rights launched a new 5 year strategy 'People. Prevention and Partnership, to guide the organisation's strategic direction over the next 5 years. The strate4gy was launched at an event to mark the organisation's 60th anniversary at a Stormont event at which the UN SPECIAL Rapporteur on Adequate Housing delivered the keynote address. The Annual Review document. known as our Impact Report, for the period 2024-25 will be available at our Annual General Meeting which will be held prior to 31st March 2026.
Housing Rights Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) f¢ontinued) Year ended 31 March 2025 Financial review Housing Rights is grant aided by the Department for Communities. The organisation also receives money from other government departments and statutory organisations. Additional income is generated from sale of services, charitable fundraising and other donations. Housing Rights continues to meet the objects set by the funders. The organisation reports lo funders directly on its work in tailored annual reports and also through a published Annual Review (Impact Report). The movement in reseNes and transfers between reseNes for the year are shown in the Statement of Financial Activities on page 16. The balance of unrestricted reserves was £1.200,112 and the balance of restricted reserves was £453,542 at 31st March 2025. Investment powers and policy The trustees agreed to the development and adoption of an investment policy in preparation of the strategic review of Housing Rights. reserves policy (completed August 2024). Housing Rights, aim in investing its fvnds is to protect and develop the Charity's resources to enable it to carry out its charitable aclivities. The Board of Directors of Housing Rights has the power to make investments on behalf ofthe Charity, as set out in the Articles of Association which also empowers the Board to delegate the management of the investements to a Financial Expert or investment manager. The Trustees have carefully considered the needs of present and future beneficiaries, and how the organisation can best satisfy its stskeholders. The Trustees have framed the investment objectives with these factors in mind. The core objectives for the portfolio are to grow the value of the capital to a greater amount than that would be achieved with the high street banks. The charity will adopt the basic principle that it will apply a pnjdent approach to investing funds across it5 Porttolio. The Charity seeks to strike the right balance between providing income for short term purposes and enhancing the value of invested funds to enable it to effectively Gary out its charitable activities in the long term. In managing the investments and making or varying the investments, the
Housing Rights Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (contlnu Year ended 31 March 2025 Manager must have regard to the following: the suitability of that particular investment as an investment in its own right the suitability to Housing Rights of a particular investment being made or being retained the need for portfolio diversification, so far as is appropriate to the circumstances of the charity the adoption of a Risk Profile described as very low meaning the investor tends to be very conservative taking financial risks and prefers security over the possibility of growth. any need to retain a strategic liquidity reserve within the fund any anticipated capital withdrawals The Manager will have the flexibility to invest in a spread of cash and cautious bond instruments. If in any doubt as to the suitability of an investment. the Manager should seek guidance from the Trustees. In accordance with Charity Commission guidance, the trustees choose not to invest directly in companies or other organisations involved in tobacco production, E-cigarettes, fossil fuels and armaments. The trustees do not routinely require the fund manager or custodian to take an active role on behalf of the trustees by exercising company members, voting rights in a particular way. However. the trustees reserve the right to request and review voting records and infomiation on any other engagement with companies in the portfolio and to seek explanations thereof. Given Housing Rights charitable status and the current UK tax regime, capital gains tax and income tax will not be applicable Housing Rights 15 short term in its approach. with a time horizon of less than 3 years. The Trustees will monitor the performance of the portfolio over the long term. and on a quarterly and annual basis. Perfomiance reviews will analyse the total return generated by the portfolio. The Manager will produce detailed investment reports with reports on every transaction. including a portfolio valuation, as at the end of March. June, September. and December, and at other limes if required. In managing the investment the manager will at all times act in accordance with the requirements outlined in section 2. The Manager will meet fomially with the Trustees at least annually. The formal benchmark will be agreed with the investment manager and will be measured over one year, three year, and five year rolling periods. The Manager should aim to outperform this measure, while ensuring that the agreed risk profile is adopted in managing the portfolio. The Audit and Risk Committee of the Board of Director5 will review the Investment Policy Statement annually, in accordance with the annual review of the reserves policy. They will discuss and agree on any amendments with the Financial expertlinvestment manager. Reserves policy and going concern Reserves are needed to bridge the timing gap between spending and receiving of income and to cover unplanned events or temporary shortralls in income should they arise. Holding adequate reserves safeguards the provision of our services in the event of unexpected significant financial pressures. Pending a strategic review of the current reserves policy to update the policy in light of best practice {expected to be completed by December 2025) the trustees consider that the ideal level of reseNes would be at least three months operating costs which for the year ended 31 March 2025 for core funding would be £211,332. In addition, an amount of £439,725 would be required to meet statutory redundancy payments in the event Ihey would be required and provision of £60.000 for unforeseen liabilities. Therefore. overall the target for unrestricted free reserves is £711.057. This policy is reviewed by the Audit and Risk Committee annually. Unrestricted reserves freely available to spend, therefore excluding fixed assets. restricted reserves and designated reserves amounted to £861,859 which is above the target level.
Housing Rights Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (continue Year ended 31 March 2025 Plans for future periods Our new Strategic Plan was launched to COV8rs the period April 2024 - March 2029. Housing Rights aims, subject to satisfactory funding arrangements. to sustain current services. The organisation also plans to develop new initiatives to meet the growing demand for assistance from people who are homeless or in housing need in Northern Ireland. The organisation continues to recognise that the voluntarylcommunity sector is in a period of financial uncertainty with significant public expenditure savings being made within the Nl Executive budget. Housing Rights intends to build on its effective relationship with funding bodies and to continue to demonstrate that it provides an efficient and effective value for money service. We will continue to evidence the high level of need for our work and to promote the positive outcome and impact of our services for people in housing need in Northern Ireland. In addition, the organisation is committed to strengthening its capacity and taking further steps towards its financial resilience. Trustees. responsibilities statement The trustees, who are also directors for the purposes of company law, are responsible for preparing the trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure, for that period. In preparing these financial ststements, the trustees are required to: select suitable accounting policies and then apply them consistently. observe the methods and principles in the applicable Charities SORP., make judgments and accounting estimates that are reasonable and prudent. prepare the financial statemenls on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial P051tion of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Housing Rights Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (continued) Year ended 31 March 2025 Auditor Each of the persons who is a trustee at the date of approval of this report confirms that: so far as they are aware, there is no relevant audit information of which the charity's auditor is unaware; and they have taken all steps that they ought to have taken as a trustee to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. Small company provisions This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption. The trustees, annual report was approved on 20 November 2025 and signed on behalf of the board of trustees by: R Crozier Trustee 10
Housing Rights Company Limited by Guarantee Independent Auditor's Report to the Members of Housing Rights Year ended 31 March 2025 Opinion We have audited the financial statements of Housing Rights (the 'charity') for the year ended 31 March 2025 which comprise the statement of financial activitie5 (including income and expenditure account). statement of financial position, statement of cash flows and the related notes. 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 FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements.. give a true and fair view of the state of the charity's affairs as at 31 March 2025 and of its incoming resources and application of resources. including its income and expenditure, for the year then ended- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice., have been ppared in accordance with the requirements of the Companies Act 2006. Basis for 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 statement5 section of our report. We are independent of the Gharity in accordance with the ethical requiremenls Ihat are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and the provisions available for small entities, in the circumstances set out below, and we have fulfilled our other ethical responsibilitie5 in accordance with these requirements. We believe that the audit evidence we have obtained 15 sufficient and appropriate to provide a basis for our opinion. In Common with many other businesses of our size and nature we use our size and nature. we use our auditors to prepare and submit returns to the tsx aLrthorities and assist with the preparation of the financial statements. Conclusions relating to golng concern In auditing the financial statements, we have concluded that the trustees, use of the going concern basi5 of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed. we have not identified any material uncertainties relating to events or conditions that. individually or collectively. may cast significant doubt on the charity's ability to continue as a going concem for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concem are described in the relevant sections of this report. 11
Housing Rights Company Limited by Guarantee Independent Auditor's Report to the Members of Housing Rights (¢ontinued) Year ended 31 March 2025 Other Information The other information comprtses the information included in the annual report, other than the financial statements and our auditorfs report thereon. The trustees are responsible for the other infonnation. Our opinion on the financial statements does not cover the other infomiation 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 doing so. consider whether the other information is materially inconsistent 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 required 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. We have nothing to report in this regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit: the information given in the trustees, report for the financial year for which the financial statements are prepared is consistent with the financial statements- and the trustees, report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees, report. 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 statements are not in agreement with the accounting records and returns., or certain disclosures of trustees, remuneration specified by law are not made,. or we have not received all the information and explanations we require for our audit., or the trustees were not entitled to prepare the finanGial Statements in accordance with the small companies regime and take advantage of the small companies, exemptions in preparing the directors, report and from the requirement to prepare a strategic report. 12
Housing Rights Company Limited by Guarantee Independent Auditor's Report to the Members of Housing Rights (continued) Year ended 31 March 2025 Responsibllitles of trustees As explained more fully in the trustee5' responsibilities statement, the trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such intemal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. Our responsibility is to audit and express an opinion on the financial statements in accordance with applicable law and International Standards on Auditing (UK). Those standards require us to comply with the Financial Reporting Council's (FRC'S) Ethical Stsndard for Auditors,, in the circumstances set out in note X to the financial statements. In preparing the financial statements. the trustees a responsible for assessing the charity's ability to continue as a going concern, disclosing. as applicable. matters related to going concem and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. 13
Housing Rights Company Limited by Guarantee Independent Auditor's Report to the Members of Housing Rights (continued) Year ended 31 March 2025 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 aiways detect a material misstatement when it exists. Misststements can arise from fraud or error and are considered material if. individually or in the aggregate, they could reasonably be expected to inftuence the economic decisions of users taken on the basis of these financial statements. Irregularities. including fraud. are instances of non-complian 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.. In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations. we considered the following: the nature of the industry and sector, control environment and business performance including the design of the remuneration policies. key drivers for directors, remuneration. bonus levels and performance targets., results of our enquiries of management about their own identification and assessment of the risks of irregularities; any matters we identified having obtained and reviewed documentation of their policies and procedures relating to= identifying, evaluating and complying with laws and regulations and whether management were aware of any instances of non-compliance" detecting and responding to the risks of fraud and whether management have knowledge of any actual. suspected or alleged fraud. the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations. the matters discussed among the audit engagement team including significant component audit teams and relevant intemal specialists, including tax and valuations specialists regarding how and where fraud might occur in the financial statements and any potential indicators of fraud. As a result of these procedures. we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud. In common with all audits under ISAS (UK), we are also required to perform specific procedures to respond to the risk of management override. We also obtained an understanding of the legal and regulatory frameworks in operation. focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the finanGial statements. The key laws and regulations we considered in this context included ongoing compliance with the UK Companies Act and tax legislation. In addition. we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental for their ability to operate or to avoid a material penalty. 14
Housing Rights Company Limited by Guarantee Independent Auditor's Report to the Members of Housing Rights (continued) Year ended 31 March 2025 As part of an audit in accordance with ISAS (UK), we exercise professional judgment and rnaintain professional scepticism throughout the audit. We also- Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error. design and perfOn audit procedures responsive to those risks. and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error. as fraud may involve collusion, forgery, intentional omissions. misrepresentations, or the override of intemal control. Obtain an understsnding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. but not for the purpose of expressing an opinion on the effectiveness of the internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. Conclude on the appropriateness of the trustees, use of the going concern basis of accounting and, based on the audit eviden obtained. whether a material uncertainty exists related to events or conditions that may Gast significant doubt on the charty's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditorfs report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditorfs report. However, future events or conditions may cause the charity to cease to continue as a going concern. Evaluate the overall presentation, structure and content of the financial statements. including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. 15
Housing Rights Company Limlted by Guarantee Independent Auditor's Report to the Members of Housing Rights (Continued) Year ended 31 March 2025 As explained more fully in the Trustees, Responsibilities Statement (set out on page 8), the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. Our responsibility is to audit and express an opinion on the financial statements in accordance with applicable law and Intemational Standards on Auditing (UK). Those standards require us to comply with the Financial Reporting Council's (FRC'S) Ethical Standard for Auditors,, in the circumstances set out in note 32 to the financial statements. Use of our report This report is made solely to the charity's members, as a body. in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity's members those matters we are required to state to them in an auditor's 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 charity and the charity's members as a body, for our audit work, for this report, or for the opinions we have fomed. Paul Dolan (Senior Statutory Auditor) For and on behalf of Finegan Gibson Ltd Chartered accountants & statutory auditor Causeway Tower 9 James Street South Belfast BT2 8DN 20 November 2025 16
Housing Rights Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 31 March 2025 2025 Restricted funds Total funds 2024 Unrestricted funds Total funds Note Income and endowments Donations and legacies Charitable activities Other trading activities Investment income 184.465 35.156 69.688 34.531 184,465 2.193.634 69.688 34,531 99,695 2,052,168 56,894 18.762 2,158,478 Total income 323,840 2,158,478 2,482,318 2,227.519 Expenditure Expenditure on raising funds.. Costs of other trading activities Expenditure on charitable activities Total expenditure (32,636) 132,636) (13,369) (87,752) (2,186,398) (2,274,150) (2,241,842) (120.388) (2,186.398) (2,306,786) (2,255,211) 10 Net incomel{expenditure) 203,452 {27.920) 175,532 127,692) Transfers between funds (5,535) 5,535 Net movement in funds 197,917 (22.385) 175.532 (27.692) Reconciliation of funds Total funds brought forward Total funds carried forward 1,002.195 475,927 1,478.122 1,505.814 1,200.112 453.542 1,653,654 1,478,122 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 20 to 34 form part of these flnancial statements. 17
Housing Rights Company Limited by Guarantee Statement of Financial Position 31 March 2025 2025 2024 Nole Fixed assets Tangible fixed assets Investments 16 17 38,140 113 23,561 113 38,253 23,674 Current assets Debtors Investments Cash at bank and in hand 18 219.631 19 1,012,859 680.258 257,756 1,646,698 1,912.748 1.904,454 Credbtors: amounts falling due wilhin one year Net current assets 20 (271.006) (423,665) 1,641,742 1,480,789 1,679.995 1.504,463 Total assets less Current liabilities Creditors: amounts falling due after MO than one year Net assets 21 (26,341) 1,653,654 (26,341) 1,478,122 Funds of the charity Restricted funds Unrestricted funds 453,542 1.200,112 475,927 1,002.195 Total charity funds 1,653,654 1,478,122 These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime. These financial statements were approved by the board of trustees and authorised for issue on 20 November 2025, and are signed on behalf of the board by: R Crozier Trustee The notes on pages 20 to 34 form part of these financial statements. 18
Housing Rights Company Limited by Guarantee Statement of Cash Flows Year ended 31 March 2025 2025 2024 Cash flows from operating activities Net in¢omel(expenditure) 175.532 (27,692) Adjustments for.. Depreciation of tangible fixed assets Dividends, interest and rents from investments Other interest receivable and similar income Accrued {incomeyexpenses 12,193 (13,103) (21,428) (87,512) 13,533 (18,762) 104,381 Changes in.. Trade and other debtors Trade and other creditors 38,125 (65.147) 38.660 {31,267) 169.682 Cash generated from operations 209,875 Interest received 21.428 18,762 Net cash from operating activities 60.088 228,637 Cash flov from investing activities Dividends, interest and rents from investments Purchase of tangible assets Purchases of other investments 13.103 (26,772) (1.012,859) (1,026,528) (12,240) Net cash used in investing activities (12.240) Net (decrease)Ilncrease in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year (966,440) 1.646,698 216,397 1,430,301 680,258 1,646.698 The notes on pages 20 to 34 form part oflhese financial statements. 19
Housing Rights Company Limited by Guarantee Notes to the Financial Statements Year ended 31 March 2025 General information The charity is a public benefit entity and a private company limited by guarantee, registered in Northern Ireland and a registered charity in Northern Ireland. The address of the registered office is 1st Floor, Skainos Centre, 239-241 Newtownards Road. Belfast, BT4 1AF. Statement of compliance These financial statements have been prepared in Complian 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 Companies Act 2006. Accountlng 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 properbes measured at fair value through income or expenditure. The financial statements are prepared in sterling. which is the functional currency of the entity. Going concern There are no material uncertainties about the charity's ability to continue. Disclosure exemptions The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102.. (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented. Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonnable under the circumstances. 20
Housing Rights Company Limited by Guarantee Notes to the Financial Statements fcontinued) Year ended 31 March 2025 Accounting policies (continued) Fund accountlng 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 trustees for particular futu 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 two sub-classe5: restricted income fijnds or endowment funds. Incoming resources All incoming resources are included in the statement of financial activities when entitlement has passed lo 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 services is recognised with the delivery of the contracted se1. 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. 21
Housing Rights Company Llmited by Guarantee Notes to the Financial Statements (Continu) Year ended 31 March 2025 Accounting polici8s (continued) 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 fund5 includes the costs of all fundraising activities, events, non-charitable trading activities. and the sale of donated goods. expenditure on charitable activities 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 charitsble activities. other expenditu includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitsble activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributsble to a single activity are allocated directly to that activity. Shared costs are apporttoned between the activitie5 they contribute to on a reasonable, justifiable and consistent basis. Operating leases Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis. Tangible assets Tangible assets are initially recorded at cost. and subsequently ststed at cost less any accumulated depreciation and impairment losse5. Any tangible assets Garried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unle5S It reverse5 a Gharge for impairment that has previously been recognised as expenditure 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, les5 its residual value, over the useful economic life of that asset as follows: Fixtures and fittings Equipment 20. straight line 330/0 Straight line 22
Housing Rights Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2025 Accounting policies {GontinuedJ Investments Unlisted equity investments are initially recorded at cost, and subsequently rneasured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment. Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure. Investments in associates Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction pri. At each reporting date, the investments are measured at fair value, with changes in fair value taken through income or expenditure. Where it is impracticable to measure fair value reliably without undue cost or effort, the Gost model will be adopted. Dividend5 and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition. Investments in joint ventures Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordan with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value. with changes in fair value taken through income or expenditure. Where it is impractiGable to measure fair value reliably without undue cost or effort. the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisltion. Impairnient 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 impairment5 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 olher assets or groups of assets. 23
Housing Rights Company Limited by Guarantee Notes to the Financial Statements (¢onlinued) Year ended 31 March 2025 Accounting policies (continued) Impairment of fixed assets fcontinued) For impairment 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 only when the charity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recogni5ed at the amount receivable or payable including any related transaction costs. Current assets and cuent liabilities are subsequently measured at the cash or other consideration expected to be paid or reiVed 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. Other financial instruments. including derivatives, are initially recognised at fair value, unle55 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 amorti5ed cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment 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 extent that the reversal does not result in a carying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. 24
Housing Rights Company Limited by Guarantee Notes to the Financial Statements f¢onlinu8d) Year ended 31 March 2025 Accounting policies (¢ontinu8d) Defined contribution plans Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises. Limited by guarantee Each of the members of the company has guaranteed to contribute to the assets of the company in the event of the same being wound up to the extent of £1. Donations and legacies Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Donations Donations 184,465 184.465 99.695 99,695 Charitable activities Unrestricted Funds Restricted Total Funds Funds 2025 Department for Communities Oak Foundation Northern Ireland Housing Executive Northern Ireland Prison Service HPCDS (LSANI) Legal Services other Income Nationwide Foundation Dormant Accounts Fund Nl Henry Smith Charity OCN Grant LEF Community Foundation TDS National Lottery Co-ownership Grant 1,012,461 324.995 381.807 161.925 13,783 1,012,461 324,995 381,807 161,925 13.783 6,487 3,961 52.700 6.487 3,961 52,700 60,000 60.000 1,375 64,488 33.231 10.000 55.446 10.975 1,375 23,333 41,155 33,231 10,000 55,446 10,975 35,156 2.158,478 2.193.634 25
Housing Rights Company Limited by Guarantee Notes to the Financial Statements fcontinu8d) Year ended 31 March 2025 Charitable activities (continu8d) unStrICted Funds Restricted Total Funds Funds 2024 Department for Communities Oak Foundation Northern Ireland Housing Executive Northern Ireland Prison Service HPCDS (LSANI) Legal Services Other Income Nationwide Foundation Dormant Accounts Fund Nl Henry Smith Charity OCN Grant LEF Community Foundation TDS National Lottery Co-ownership Grant 1.056,204 300,000 352.795 132.632 10.462 1.056,204 300,000 355,967 132,632 10,462 14,608 1,357 43,538 30,000 39,200 2.045 41.155 25,000 3.172 14,608 1,357 43.538 30.000 39,200 2.045 41,155 25,000 21,182 2,030,986 2.052,168 Other trading activities Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Fundraising and events Membership Fees Training and Events Conference & Events income 560 6.896 37.083 12.355 560 6,896 37.083 12.355 14,543 45,727 9,418 14,543 45,727 9,418 69,688 69,688 56,894 56.894 Investment income Unrestricted Total Funds Unrestrided Totsl Funds Funds 2025 Funds 2024 Income from listed investments Deposit Account 13.103 21,428 13,103 21,428 34,531 18,762 18.762 34,531 18.762 18.762 26
Housing Rights Company Limited by Guarantee Notes to the Financial Statements (¢ontlnuedJ Year ended 31 March 2025 Costs of other trading activities Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Costs of other trading activities 32.636 32,636 13,369 13,369 10. Expenditure on charitable activities by activity type Activities undertaken directly Support costs Total funds 2025 Total fund 2024 Relieving Poverty. Homelessness & Housing Issues Govemance costs 2.085,448 182,582 6,120 2.268.030 6,120 2,236,622 5,220 2.085,448 188,702 2,274,150 2,241,842 11. Analysis of support costs Analysis of support costs Total 2025 Total 2024 Staff costs Premises Communications and IT General office Govemance costs 166.171 7.005 7.834 1,572 6.120 166,171 7,005 7,834 1,572 6,120 158.498 6,294 1,269 7.987 5.220 188,702 188,702 179,268 12. Net incomel(expenditure) Net incomel(expenditure) is stated after chargingl(crediting): 2025 2024 Depreciation of tangible fixed assets 12,193 13.533 13. Auditors romuneration 2025 2024 Fees payable for the audit of the financial statements 6,120 5.220 27
Housing Rights Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2025 14. Staff costs The total staff costs and employee benefits for the reporting period are analysed as follows: 2025 2024 Wages and Salaries Social security costs Employer contributions to pension plans 1.547,576 148,792 75,465 1,488,939 141,440 68,694 1,771.833 1,699,073 The average head count of employees during the year was 57 {2024: 51). The number of employees whose remuneration for the year fell within the following bands, were: 2025 2024 No. £60,000 to £69.999 £70.000 to £79.999 Key Management Personnel Key management personnel include all persons that have authority and responsibility for planning. directing and controlling the activities of the charity. The total compensation paid to key management personnel for services provided to the charity was £361,696 (2024:£204,692). 15. Trustee remuneration and expenses The Charity Trustees were not paid or received any other benefits from employment with the Charity in the year (2024: £Nil). During the year, two Trustees were reimbursed a total of £418 for travel and accommodation expenses incurred. (2024: One trustee reimbursed £470) 28
Housing Rights Company Limited by Guarantee Notes to the Financial Statements (contlnu8d) Year ended 31 March 2025 16. Tangible fixed assets Fixtures and ffftings Equipment Total Cost At 1 April 2024 Additions 30,635 6,156 151,513 20,616 182,148 26,772 At 31 March 2025 36,791 172,129 208,920 Depreciation At 1 April 2024 Charge for the year At 31 March 2025 30,395 1,118 128,192 11.075 158,587 12,193 31.513 139,267 170,780 Carrying amount At 31 March 2025 5.278 32.862 38,140 At 31 March 2024 240 23,321 23,561 17. Investments Listed investments Cost or valuation At 1 April 2024 and 31 March 2025 Impairment At 1 April 2024 and 31 March 2025 Carrying amount At 31 March 2025 113 113 At 31 March 2024 113 All investrnents shown above are held at valuation. Flnancial assets held at fair value Listed investments are held at market value. 18. Debtors 2025 2024 Trade debtors Prepayments and accrued income Other debtors 45.016 25.300 149.315 36.836 26,441 194.479 219,631 257.756 29
Housing Rights Company Limited by Guarantee Notes to the Financlal Statements (continued) Year ended 31 March 2025 19. Investments 2025 2024 Other investments 1.012,859 20. Creditors: amounts falllng due withln one year 2025 2024 Trade creditors Accruals and deferred income Social securrty and other taxes Other creditors 120,700 99,542 47,984 2,780 93,672 159,841 31,550 138,602 271,006 423,665 21. Creditors: amounts falling due after more than one year 2025 2024 Other creditors 26,341 26,341 22. Deferred income 2025 2024 At 1 April 2024 Amount released to income Amount deferred in year At 31 March 2025 7.013 (7,013) 34.226 8,200 (8,200) 7,013 34.226 7.013 23. Pensions and other post retirement benefits Defined contribution plans The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £75.465 (2024.. £68.694)- 30
Housing Rights Company Limited by Guarantee Notes to the Financial Statements {conllnued) Year ended 31 March 2025 24. Analysis of charitable funds Unrestricted funds At 1 April 2024 At31 Transfers March 2025 Income Expenditure General Funds Pension withdrawal designated Fund Training Future accommodation designated fund 717,676 245,692 (62,278) (978) 900.112 220.000 14.519 220,000 30,000 78,148 (58,110) {4,557) 50,000 50.000 1,002,195 323,840 (120.388) {5,535) 1,200,112 At 1 April 2023 At31 Transfers March 2024 Income Expenditure General Funds Pension withdrawal designated Fund Training Future accommodation designated fund 687,847 120.606 (169.255) 78,478 717,676 220,000 220,000 14.519 75.927 (61.408) 59.181 (9,181) 69,297 50,000 967.028 196.533 (230,663) 1,002.195 £220,000 has been designated to help enable the Charity fund a complete cessation from the Nl Charities Pension Scheme. and cover any additional liabilities and professional costs associated with complete withdrawal. The income. less associated expenditure, generated from training courses delivered has been designated for future investment in training delivery. £50,000 has been designated to cover the costs of relocating Housing Rights offices in the future. Restricted funds At 1 April 2024 At31 Transfers March 2025 Income Expenditure CHAP Hani Prisons Beyond the Gate HPCDS Client Hardship Fund Dfc Mediation Landlord Helpline BME Nationwide Foundation YPHAMS 141,123 40,766 66,317 13,204 11,579 5,867 119,350 52,405 274,184 97,793 13,783 1106,070) (24.275) 1272,839) (98.103) (23.178) (835) (15,842) (40,642) (6.175) 148.228 68.896 65.961 12,766 12,184 5.032 6.705 50,878 12,246 6.958 6,385 (1.701) {128) 10.000 22,800 51.515 (253) 40.005 12.246 25,637 6.729 52,700 115,446 170,664) (110.170) (715) (5,620) 31
Housing Rights Company Limited by Guarantee Notes to the Financial Statements (contlnugdj Year ended 31 March 2025 24. Analysis of charitable funds (continue Community Justice Fund Dormant Accounts Fund Nl l Digital New Oak Foundation Dfc Core Legal Education Fund Community Foundation 900 900 62,388 23,754 (136,616) 94,597 (229,046) {119,703) 1957.143) 18,997 (55,452) 23,333 20,369 324,995 938,146 41,155 14,917 23,953 10,495 33,231 10,000 10,975 (32,440) {2,108) 110,975) 2,158.478 (2.186.398) (2,511) (4,586) 8,775 3.306 TDS Co Ownership 475,927 5,535 453,542 At 1 April 2023 At31 Transfers March 2024 Income Expenditure CHAP Hani Prisons Beyond the Gate HPCDS Client Hardship Fund Dfc Mediation Landlord Helpline BME Nationwide Foundation YPHAMS Community Justice Fund Dormant Accounts Fund Nl l Digital New Oak Foundation Dfc Core Legal Education Fund Community Foundation Nl TDS Co Ownership 147.717 40.859 66.317 13.092 18.454 2.371 89.435 40,821 12,246 33,642 2,959 900 107,973 47.997 237.012 92.445 10.462 (92,542) {44,412) {211.656) {85,119) {15,714) (1.504) (157,694) (47,830) {22,025) 13,678) (25,356) {7,214) (1,623) 5.000 (13,918) (3,617) 141.123 40.766 66.317 13.204 11.579 5,867 82,177 50,631 40,005 12,246 25.637 6,729 900 43,538 39,200 (44,657) (71.403) (6,886) 35,973 34,508 23,524 30,000 300,000 923,396 41,155 (96.201) 94,081 (195,015) (104.755> (916,574) (6.822) (29.722) (8.457) 62.388 23.754 11.941 14,917 25,000 (14.5051 10.495 538.786 2,030,986 (2,024,548) (69.297) 475.927 Transfers out of restricted funds related to project management costs and other internal expenditure transactions. 32
Housing Rights Company Limited by Guarantee Notes to the Financial Statements (¢ontinued) Year ended 31 March 2025 25. Analysis of net assets between funds Unrestricted Funds Restricted Totsl Funds Funds 2025 Tangible fixed assets Investments Current assets Creditors less than 1 year Creditors greater than 1 year Net assets 38.140 38,140 113 113 1.305.189 607,559 1,912,748 {116,989) 1154,017) (271,006) 126.341) (26,341) 1,200,112 1,653,654 453,542 Unrestricted Funds Restricted Total Funds Funds 2024 Tangible fixed assets Investments Current assets Creditors less than 1 year Creditors greater than 1 year Net assets 23,561 23,561 113 113 1,263,112 641,342 1,904,454 (258.250) (165,415) (423,665) (26,341) (26,341) 1,002,195 1,478,122 475.927 26. Financial instruments The Charity 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. 27. Corporation tax The Charity's activities fall within the exemptions afforded by the provisions of the Income and Corporation Taxes Act 1988. Accordingly, there is no taxation charge in these accounts. 28. Contingent liabilitles The charity has received correspondence from their pension fund administrators to advise that changes had been made in the past to the benefits provided to members of the Scheme which may not have been executed as required by the Scheme's documentation. The pension fund trustees are seeking court direction, with the case heard in March 2025, on how to interpret the rules. If the court directs that some changes were made in a way not permitted by the Rules then consequently members, benefits would need to be increased. which would give rise to additional liabilities. of an estimated £140,000 and associated costs, including legal costs, of an estimated £12,000. 33
Housing Rights Company Limited by Guarantee Notes to the Financial Statements (Continued) Year ended 31 March 2025 29. Analysis of changes in net debt At At 1 Apr 2024 Cash flows 31 Mar 2025 Cash at bank and in hand Current asset investments 1,646.698 (966,440) 1,012,859 680,258 1,012,859 1,646,698 46,419 1,693,117 30. Operating lease commitments The total future minimum lease payments under non-cancellable operating leases are as follows: 2025 2024 Not later than 1 year Later than 1 year and not later than 5 years 56.870 284.350 67,680 22.560 341,220 90.240 31. Related parties There were no related paty Iransactions in the financial year ended 31 March 2025 (2024.. None). 32. Ethical standards In common with many olher businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements. 34