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 aChIe￿ng 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 ag￿efflent 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 DI￿10•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