Reglstered Number: IP174 Charity Reglstratlon Number: NIC106082 CRAIGOWEN HOUSING ASSOCIATION LIMITED REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
CRAIGOWEN HOUSING ASSOCIATION LIMITED CONTENTS For thè vear ended 31 March 2023 PAGES Chairman's Foreword Report of the Board Auditors, Report 7-11 Statement of Compr8hensive Income 12 Balance Sheet 13 Cash Flow Statement 14 ststement of Changes in Equity 15 Notes to the Financial Statements 16-25
CRAIGOWEN HOUSING ASSOCIATION LIMITED GENERAL INFORMATION THE BOARD A Hamilton- Chairman N Carson W Rainey C Horan A Watt A Smyih M Woods R Buchanan PFary H Logan S Clements E Dixon (Resigned 2210612022) (R8signed 2210612022) (Appointed 2210612022) (Appointed 2210612022) SECRETARY W McCr8ight REGISTERED OFFICE 150 Holywood Road Belfast BT41NY REGISTERED NUMBER IP174 CHARITY REGISTERED NUMBER NIC 106082 AUDITORS GMCG BELFAST Chartered Accountants & Statutory Auditor Alfred House 19 Alfred Street Belfast BT2 8EQ SOLICITORS Edwards & Co 28 Hlll Stre8t Belfast BT12LA BANKERS Bank of Ireland 1 Donegall Square South Belfast BT15LR Bank of Ireland 4-8 High Street Belfast BT12BA U15ter Bank 11-16 Donegall Square East Belfast BT15UB
CRAIGOWEN HOUSING ASSOCIATION LIMITED CHAIRMAN'S FOREWORD For Ihe ear endèd 31 March 2023 I have great pleasure in presanling th6 annual report and accounts tor Craigowen Housing Association for the year ended 31 March 2023. Craigowen Houslng Association was e8tablished to pffjvide and maintain housing accommodation lor people wilh leaming disabilities and for those who care for them, along wilh their families. We have 40 properties, all of which are localed within the Ihree Camphill Communilies in North8rn Ireland: GlenGraig, Mourne Grange and Clanabogan, all ot which otter a dislinct and camg athos of shared livlng lor which the Canyhill Communrties are renowned. Durlng the course of the year we said goocbye lo Iwo of our longesl serving Board Members, Mr Bill Rainey and Ms Carm81 Horan. I would like to pul on record the 8oard's gratitude for their advice and guidance over their many years of service. We also welcomed two new Members to our Board. Ms Lizzie Dixon and Mr Shane Clemenls. We are clearly a very small Housing Associatlon and our only Source of income is from the ronts collocled from the people who live in our accommodatlon, our Vlllagers. The nature of our housing stock ard Ihe need lo ensure that il meels the specific needs ol our Vlllagers provrdes us with a number of challenges. not least of which is the need lo sel rents that are falr and affordabla, bul which provid8 sufficient income lo fullil our ongoing maint8nanc8 obligations. The Assoclation has an established rent strategy agreed with 8ach of the Comrnunltie8 and thi$ is under revlew to ensure that rent charges are clearly Sot out equitably a¢ro88 each Communlty. Although there remained challenges io $8rvlco provislon in the eady part ol Ihe year due to Ihe 1Sngering impact of the Covid-19 pandemic. the Associalion was able to dgllver its extensive planned and cyclical rnaintenance programme in lull. In total we inve3ted £446,945 on capltal improvement and on planned ar¥J cyclical rnaSnlenance programmes in the course ol the year. Some 48 projects were completed and materlal Improvemenl made to the quality of Villagers, homes across the Camphill Communities. The Board c10881y nvjnitors the response lime8 arKI quality Ot our response mainlenance op8ration8. In the course of the year we inve8led some £131,144 {£102,887 In 2021-2022) in responding to emergencies and Ihe need for rouline repair8. Wa have 8el t*ne targ8t8 for completion of Ihese categories of repair. untortunately these ware adversely Impact8d by th8 Covid pandemic at the beginning of 2022123, but in Ihe later monlhs of the year we achieved above larget results. Whilst our targets have not been lully met in th18 year, we ar? confident that we ale currently aChIeng the high standards we have Sel. We und8rstand tho priority that is attached to a good responsive rnainlenance ser4ice by our Villagers and we continue to work hard to deliver a service which meets their expgctations. We have ended our malntenance agefflent wilh Clanrnil Housing Associalion and have laken thls in-house to ensure Ihal we remain In tull conlrol of all rnaintenance services. During ihe year the Board continued to explore the feasibility of a Iransfèr ol its engagements and assats to Canphill Cornmunity Trust INI) as part of its corK8idpration of the long term direclion of the Association. After detailed ar extensive considaTation of the legal implicalions and financial consequences associated wrth this. the Board reluciantly concluded that it had no Opiion but to shelve lurther consideralion ol Ihe proposal. A Hamilton Chalrman Dale: zg.6.E5
CRAIGOWEN HOUSING ASSOCIATION LIMITED REPORT OF THE BOARD For the ear ended 31 March 2023 The Board present their report and the financial statements for the year ended 31 March 2023. Prlncipal Actlvlty The principal actlviti85 of the Association are to provide housing and related amenities for adults who have learning disabilities, and the staff caring for tham and their dependents. The Association owns 24 properties. with 6 located in Camphill Community Glencraig, 10 in Camphill Community Moume Grange, 6 in Camphill Community Clanabogan and 2 in Holywood. The Association also manages 16 properties which are leased from Camphill Community Trust INI). Housing management services at all properties are carried out by the relevant Camphill Community who are the Managing Agents. The Association aims to provide good quality accommodation with proper leve15 of maint8nance and investment ov8r the long tem al affordable rents. Status The Association is a registered society under the Cothoperative and Community Benefit SocietSes Act (Northem Ireland) 1969 (Ref IP 174) and is a Registered Housing Association, The Assoclation is recognised as a charity by HMRC {R8f X01015) and became reglstered wlth the Charity Commlssion for North8rn Ireland on 6 July 2017 (Charity Registration Number.. NIC 106082). The Board The Board meets regularly throughoul the year and has four sub-committees with speclfic responsibilities for finance, audit and risk, strategic dlrection, staffing and Board refreshment. There were eight Board meetings during the course of the yaar and the attendance was as follows:_ Member Attendances Membership of Sub¥comrnittees N Carson W Raine Asm A Watt M Woods C Horan A Hamilton - Chair R Buchanan PFa HLO an S Clements E Dixon TFC, BR FARC SRC, BR SRC TFC Retir8d 2216122 Retired 2216122 TFC FARC, TFC, SRC FARC FARC FARC BR ointed 2216122 ointed 2216122 TFC- Taklng forward committee FARC- Finance, Audit & Risk committ88 SRC Staffing & Remuneration committee BR - Board refreshment sub-group Each year one third of members retir8 by rotation and are eligible for re-electlon. Secretary W Mccreight.
CRAIGOWEN HOUSING ASSOCIATION LIMITED REPORT OF THE BOARD Cont'd For the ear ended 31 March 2023 Governance During the year the Board continued wlth improvements in corporate governance. These Improvements include: comp18tion of a Board self-appraisal exercise, additional Board and staff training, the ongoing review of risk management, ongoing review of policies. and continued compliance with Dfc regulatory standards. The Board currently has several Members who have served for over nine years and has begun a process to replace these Members. The Board intends to adopt a phased approach to refreshment and plans to replace 2 Members in 2024 and a furth8r 2 in the following year. A Board sub-group has b8en formed to take this process forward. Impact of Covld -19 During the year, as the Covid 19 pandemic and the restrictions it created eased, the Association was able to mora fully provide the level of service required, although th8re remained challeng8S to service provisSon in the early part of the year due to the lingering impact of the pandemic. The Finance, Audit & Risk Committee has assessed th8 risk5. and continues to monitor these. Malntonanc• The Association ceased its 8greement wlth Clanmil Housing Associatlon for the provision of response maintenance service5 on 31 December 2022 and for Statutory maintenance s8rvices on 31 March 2023, as the Board agreed to bring all maintenanca provision under the full control of directly employed CHA staff. Th8 Board is confident that this ¢hange will benefit Villagers and provide greater value for money. The Board has continu8d with Its extensive Planned maintanance programma and mat all budget targets for this in the year. Response Malntenance Performance Year ended 31 March 2023 715 Year ended 31 March 2022 618 Target Total number of repairjobs /0 of emergency repairs completed in 24 hours °/D of urgent repair5 completed in 4 days 87/. 79./0 85Y. 730/0 % of routine repairs completed in 20 days 77Vo 800/0 Response maintenance performance has improved signrficantly on tha previous year, wlth em8rg8ncy repairs achieving an 87 % completion against the previous year 79 %. While urgent and routine repairs were below their target of 800/0, the Board is encouraged that the perfomiance steadily improved over the course of the year and in fact all targets were surpassed for the last 4 months of 2023. Finance The Board has approved robust financial plans to ensure that its charitable aims are achievable and sustainable in the long term and Gontinues to review and scrutinise monthly and quarterly financial reports.
CRAIGOWEN HOUSING ASSOCIATION LIMITED REPORT OF THE BOARD Cont'd the ear ended 31 March 2023 Staffing The Association believes that the optimum staffing level is four members of staff., General Manager, Finance Officer and two Maintenance Officers. The Association has been able to retain a complement of four staff since July 2021. Tenant Participation Tananl participation remains a crucial 8lement to the services provided by the Association. The Tenant Participation Strategy 15 continually monitored to ensure tenants are involved in the design, delivery and continuous improvement of services. Risk Management Th8 Board has carried out a r8view of major rlsks to which the Association is exposed, and put in place systems and controls to rnitigate the effects of thasa risks. This includ8s an assessment of the implications of key risks if they are not managed appropriately, the controls in place to manage the identified risks and the identification of further actions planned to minimise the risks. This system ha5 been in place during the course of th8 year under r8V18w and is gUlarlY revi8W8d by the Flnance, Audit and Risk Committee and made available for Board review at each Board meeting. The Assoclatlon has also continued wSth Its programme of VIeW of existing pollcles regarding Finance and Risk Management, Health and Safety, Property Maintenance and Development and Employment and Communication. In the current year the Association has completed the implementation of the General Data Protection Regulations, and continued with the regular review and update of Policies. Resultg and Flnanclal Review The Statement of Comprehensive Income shows that the Association generated £1,002,730 (2022 £973,850) of income from collection of rents, Spacial Needs Management Allowance and amortisation and incurred expenditure of £1,073,188 12022 £1,012,249) on the maintenance and management of its properties, incurring an overall deficit of £59,725 (2022 - £38,229) in the year. At the balance sheet date, the Association had total reserves of £2,298,748 (2022 - £2,358,473) includlng revenu8 r8serves of £1,234,063 12022- £1,293,788). The Associatlon continu8S to carry out a programme of maintenance and r8pairs to Its propgrties and the total expenditure for the year was £399,259. wlth a further £178,830 of additions made to prop8rt18S. Golng Concern During the year the Board continued to explore the feasibility of a transfer of ils engagements and assets to Camphill Community Trust INI) as part of its consideration of the long term direction of the Association. After detailed and extensive consideration of the legal implications and financial consequences associated with this. the Board reluctantly concluded that it had no option but to shelve further consideration of the proposal. After making enquiries, the Board has a reasonable expectation that the Association has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing thè financial statements.
CRAIGOWEN HOUSING ASSOCIATION LIMITED REPORT OF THE BOARD Cont'd For the eaT ended 31 March 2023 Statement of Board Members, Responslbilities The Ctroperative and Community Benefit Societies Act (Northern Ireland) 1969 and registered housing association legislation require the Board to prepare financial statements for each financial year which give a true and fair view of the state of th8 affairs of the Associalion and of the surplus or deficit of the Association for thai period. In preparing these the board is required lo: Select suitable accounting policies and apply them consistently., Make judgements and estimates that ar8 reasonable and prudent,, stste whether applicable accounting standards have be&n followed, subject to any materlal departures disclosed and explained in the financial statements., and Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Association will continue lo operate. The Board is responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Association and enable it to ensur8 that the financial statements comply with the Co-operative and Community Benefit Societies Act (Northern Ireland) 1969 and the Registered Housing Associations (Accounting R8quirements) Order (Northern Ireland) 1993. It has general responsibility for taking reasonable staps to safeguard the assets of the Association and to prevent and det8Ct fraud and other irregularities. Intemal Control The Board has overall responsibility for the Associats-on's systems of internal financial control and for reviewing the eff8Ctiven8ss of the syst8ms. Such systems ar8 designed to manage rather than eliminata the risk of failure to achieve business objectives, and can only provide reasonabla, and not absolut8 assurance against material misstatement or loss. The process for identifying, evaluating and managing the significant risks faced by the Association is ongoing. The Board has review8d th8 effectiveness of the Association's systems of internal control, this review has included the commission and participation in detailed review of existing internal control procedures and the business risks faced by the Assoclation. The key elements of the system which the Board has established to provide effective internal control include: The èstablishment of a Finance, Audlt and Risk Committee which r8gularly revlews th8 overall flnanclal posltlon and the key risks facing the Association. The Committee updates the Board regularly on Its revlew of matters relatlng to internal control and reports from the Internal auditors. Detailed budgets are prepared which are reviewed in detsll by the Committee and approved by the Board, with appropriate action taken when varianc8s are identified. The establishment of a system of KPI'S to monitor monthly performanc8 of the provision of maintenance services. The Board maintains responsibility for overall stralegy and th8 approval of all major expenditure.
CRAIG WEN HOUSING ASS CIATION LIMITED EPORT OFTHE B ARD Cont'd For Ihe ear ended 31 March 2023 Stat•monl of DI10•Ur• of Information to Audltor¥ So far as each of the member8 of the Board is awar8.' Ther8 is no relevant intormation of whlch the Association's audit018 are unaware; and They have taken all reasonable Steps that they oughl to have taken, as rnembers of the Board. lo make themselv88 aware of any r818vant audit information and to establish that Ihe Association's auditors are aware of that InfomHlion. Audltors The Board has appointed GMGG 8ELFAST as the A$60ciation's auditor8. This report was approved by th8 Board on 28 June 2023 and 8igned on tts bohall by: A Hamilton Chalrman 150 Holywood Road Belfast BT4 1NY