annual report 2010 11

Cartrefi Cymunedol Community Housing Cymru COMPANY NO: 2380564 CHARIry NO: 1128527 COMMUNITY HOUSING CYMRU LIMTED (L...

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Cartrefi Cymunedol

Community Housing Cymru

COMPANY NO: 2380564

CHARIry NO: 1128527

COMMUNITY HOUSING CYMRU LIMTED (Limited by Guarantee) TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2011

Bevan & Buckland Chartered Accountants and Statutory Auditors SWANSEA +++++++++++++++++++

COMMUNITY HOUSING CYMRU LIMITED (Limited by Guarantee) FOR THE YEAR ENDED 31 MARCH 2OI1

Page

Trustees'Report

2-7

lndependent Auditors' RePort

8-9

Statement of Financial Activities

10

Charity Balance Sheet

11

Notes to Financial Statements

12-19

COMMUNITY HOUSING CYMRU LIMITED (Limited by Guarantee) TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2011

The Trustees have pleasure in presenting their annual report together with the audited financial statements for the year ended 31 March 2011 REFERENCE & ADMINISTRATIVE INFORMATION TRUSTEES:

P Cahill (Chairman)

L Penn

T Blanch (Vice Chair) D Jones (Vice Chair) K Michael (Treasurer)

A Protheroe K Protheroe C Rutson A Bateson S Higginson S Perkins J Keegan R Waters J Roberts

H Armstrong

C Dafis V Davies M Dymond K Edwards A Forte J France A Hinchey G Jones D Lewis A Llwyd P Maggs CHIEF EXECUTIVE:

N Bennett

SECRETARY:

S Evans ( Appointed 30 September 2010)

REGISTERED OFFICE:

Fulmar House Ocean Way

Cardiff CF24 5HF REGISTERED NUMBER:

2380564 (England and Wales)

CHARITY NUMBER:

1128527

BANKERS:

HSBC Bank Plc 94 Albany Road Cardiff, CF24 3RT

AUDITORS:

Bevan & Buckland Chartered Accountants and Statutory Auditors Langdon House, Langdon Road, SA1 Swansea Waterfront SA1 8QY

SOLICITORS:

Hugh James Hodge House 114-116 St Mary Street

Cardiff

COMMUNITY HOUSING CYMRU LIMITED (Limited by Guarantee) TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2011

Community Housing Cymru is the membership body for housing associations and community mutuals in Wales, which are all not-for-profit and provide around 127,000 homes and housing services throughout Wales. As a registered charity our objectives are to: " promote the voluntary housing sector in Wales

* promote the relief of financial hardship through the sector's provision of low cost social housing

* provide services, education, training, information, advice and support to providers of such housing in Wales

* encourage and facilitate the provision, construction, improvement and management of low cost social housing by housing associations in Wales.

Our charity registration number is 1128527. We are also registered under the Companies Act 2006 in England and Wales with company number 2380564 Our registered office is Fulmar House, Beignon Close, Ocean Park, Cardi'ff CF24 sHF During 2010111 the following individuals served as trustees of CHC:

Representative Mem bers GrWp Gwalia Lesley Penn Amanda Davies Seren Group Kevin Protheroe Cardiff Community Housing Association Coastal Housing Tim Blanch Newport City Homes Peter Cahill Michael Dymond Merthyr Valley Homes Voluntarv Comm ittee Mem bers Roger Waters Pennaf Group Jasper Roberts Cadwyn Housing Association CT Cantref Cynog Dafis Melin Homes Doiran Jones CT Cymdogaeth John France Amanda Protheroe Newydd HA South East Reqional Council John Keegan Monmouthshire Housing Cynon Tdf Community Housing Antonia Forte South West Reqional Council Pembrokeshire Housing Peter Maggs Katrina Michael CT Ceredigion

COMMUNITY HOUSING CYMRU LIMITED (Limited by Guarantee) TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2011

North & Central Regional Council

Perkins Anne Hinchey Shane

Mid Wales Housing Association Wales & West Housing Association

Care & Repair Cymru Board representative David Lewis

Co-opted members (Chairs of the Federation's Forums) Supported Housing Services Forum Chris

Rutson

United Welsh

Financial Services Forum Steve

Higginson

Monmouthshire Housing

Housing Services Forum Helen

Armstrong

Cadwyn Housing Association

Technical Services Forum Andrew

Bateson

Cadwyn Housing Association

Structure Governance and Management The Memorandum and Articles of Association of Community Housing Cymru were adopted by Special Resolution dated 20th March 2008 and amended by Special Resolution dated 13th February 2009.

The Directors as charity trustees have control of the Charity and are collectively known as the National Council. National Council when complete consists of at least six and not more than twenty two individuals plus David Lewis, Chair of Care & Repair Cymru who is co-opted on. Eighteen shall be elected in accordance with procedures proposed by the National Council and agreed by the members in general meeting, and up to four shall be appointed by the National Councilto serve for a period not exceeding three years. Six members are representatives of a member organisation, six members must be Directors of the Committee of Management (or similar) of a Housing Association member and six members who must be authorised representatives of a member organisation having a registered office or at least 50 units of housing stock in the geographical region in respect of which they are nominated - North and Central Wales, South West Wales and South East Wales.

COMMUNITY HOUSING CYMRU LIMITED (Limited by Guarantee) TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2011

All Directors are elected by postal ballot using a single transferable voting system. National Council elects a chair, one or more deputy Chairs and a Treasurer from amongst their number. National Council also appoints a management committee to oversee finance and personnel related issues.

All new members of CHC National Council receive induction and training. The National Council meets quarterly as does management committee. None of the trustees receive remuneration from their work with the charity.

Financial Review We are delighted to report that during 2010111 our operating surplus was f53,502 an increase for the fifth consecutive year. Reserves Policy CHC reserves at 2010/1 1 were f467,588, which included 8278,746 of unrestricted reserves. It is the policy of Community Housing Cymru to hold a Reserves level sufficient to cover 3 months of contractual requirements in the unlikely event of the company winding down. The main costs include salaries, redundancy payments to staff, establishments costs and office expenses.

Progress on Corporate Plan Priorities in 2010111 1. Promoting the Voluntary Housing Sector in Wales

o

We formed a new Group structure with Care & Repair Cymru, creating synergy and back office savings that will allow us to intensify our campaigning for not-for-profit action in Housing, Care and Regeneration

o

We held a joint Housing Finance Summit with the Finance Minister and Deputy Minister for Housing and Regeneration in September 2010 where we unveiled the global accounts and also discussed our economic impact, Moneyline Cymru and EIB investment in Wales.

r

We held a Health and Housing Summit at the end of March with the Deputy Ministers for housing and health in order to explore the scope for greater action to reduce pressures on the NHS and increase the role of the sector in care provision.

r

We completed the "Are you on board campaign" where we held debates with National Assembly Candidates in all22local authorities in Wales, challenging them to support the sector's efforts in advancing housing, care and regeneration.

COMMUNITY HOUSING CYMRU LIMITED (Limited by Guarantee) TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 201{

Progress on Corporate Plan Priorities in 2010111 - Con't

o r r r o

We developed a comprehensive Manifesto for the National Assembly elections which we have used to inform the manifesto preparations of all four main political parties in Wales, and also attended all Autumn party conferences.

We published our third Economic lmpact Study which highlighted the increasingly significant role that Welsh housing associations play in supporting the Welsh economy. The sector met the One Wales 6,500 target. The PR Campaign continued - our "Don't get bitten by Loan Sharks campaign" was the top item on both BBC Wales and ITV Wales in November 2009 and we repeated the adverts in November 2010. CHC is now the lead UK representative on the Cecodhas - Housing Europe Network and will be hosting the general assembly and an EU wide conference on carbon reduction good practice in June of 2011.

2.Promoting innovation in the funding and delivery of social housing and services to support members in a new regulatory system.

r

Great progress has been made on the new Regulatory System. We jointly agreed the Delivery Outcomes with WAG and shall shortly jointly agree the Regulatory Framework Document. Schedule 1 payments were also reformed. The response to CHC support on regulation through our networks, Governance conference and training programmes have been very positive.

r r

We have undertaken a huge amount of work scoping the potential for the sector to benefit from EU Convergence with bids currently in the final stages of approval from WEFO. The Comprehensive Spending Review saw Dowry payments protected, and a softening to the cuts in Supporting People funding, but the 30% cut in SHG lor 2011/12 means that we face significant challenges in supply moving forward.

o

To this end we hosted the Welsh Housing lnvestment Trust research to look at the scope for innovation in future delivery. This work could lead to an intermediate rental vehicle, but further challenges remain.

We will continue to work with the sector, including the Finance Forum to examine further scope for

o

innovation. The work which will soon conclude on the rent benchmarking system will be critical in ensuring the future sustainability of the sector.

3. Promoting the relief of financial hardship

r

The sector played a critical role in delivering almost f30m of investment in the ARBED scheme and so we are determined to see that the sector is well positioned to benefit from the €35m of EU funding which will soon be made availabb for ARBED 2.

o

We are currently looking to create a Revolving Loan Fund with and for the sector which will provide greater benefits than existing FlTs schemes based on EU best practice.

o

We have further developed our work on Financial lnclusion. The 5 pilot Moneyline Cymru outlets have

r

helped 3,000 financially excluded individuals over the past year. Talks are now undenrvay with members in Mid and North Wales on extending the initiative. We were delighted to receive the news that t250,000 in Big Lottery Funding will be available to CHC in 2011112 2011112

r o

to support the Moneyline Cymru scheme. This will be reflected in the financial statements for

This year saw an important "Essex style" review of Supporting People under the leadership of Professor Mansel Aylward and the commitment from WAG and partners to a collaborative implementation of the recommendations. Members have been particularly concerned at the size and scope of benefit reforms and housing benefit cuts proposed by the Whitehall government. CHC has been working in partnership with our counterparts across the UK, as well as with partners in Wales, and were pleased to see proposals to cut 10% housing benefits for JSA claimants unemployed for more than 1 year dropped. We will continue to work with others to oppose cuts that affect the most vulnerable or dis-incentivise work.

COMMUNITY HOUSING CYMRU LIMITED (Limited by Guarantee) TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2011

Progress on Corporate Plan Priorities in 2010111 - Con't 4. CHC Operations

r

Cartrefi Cymunedol Gwynedd and Tai Calon both joined CHC, taking our stock transfer membership to ten organisations.

r

We are pleased that we are about to report a fifth successive year in moderate surplus which will rebuild reserves to charity commission recommended levels.

Public Benefit Statement The trustees have complied fully in their duty to direct strategic activities and operational duties undertaken by Community Housing Cymru in line with the public benefit provided by the charity. The public benefit is derived from;

r r r

Promoting the voluntary housing sector in Wales Promoting relief of financial hardship through the sector's provision of low cost social housing Providing continuing support to providers of such housing in Wales

Plans for the future Continued pressure on social housing in the wake of the economic downturn and the resultant cuts in Social Housing Grant suggests a need for innovative measures alongside continued effective partnership working.

Our priorities are to assist the sector during these challenging times and to reinforce our 'offer' & 'ask' proposalto the new Housing Minister:

Housing associations are prepared to invest f250m (outside grants received) in return for the following proposalto the new Housing Minister:

a

lnvestment and innovation in housing supply based on a sustainable rent model

a

Continued engagement

to fight

financial exclusion and fuel poverty, whilst developing the green

economy and regeneration needs for voluntary housing sector. Engagement on health, housing and care to implement the Supporting People Review helping alleviate pressure on the NHS The formation of our Group Structure means we are well placed to address housing, care and regeneration needs for the voluntary housing sector.

COMMUNITY HOUSING CYMRU LIMITED (Limited by Guarantee) INDEPENDENT AUDITORS' REPORT TO THE TRUSTEES OF COMMUNITY HOUSING CYMRU FOR THE YEAR ENDED 31 MARCH 20{1

We have audited the financial statements of Community Housing Cymru Limited for the year ended 31 March 2011, on pages 10 to 19. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

This report is made solely to the Charity's trustees 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 trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members as a body, for our audit work, for this report, or for the opinions we have formed. RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND AUDITORS As explained more fully in the Statement of Trustee's Responsibilities set out on pages 2 to 7, the trustee's 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 lnternational Standards on Auditing (UK and lreland). Those standards require us to comply with the Auditing Practices Board's Ethical Standards for Auditors. SCOPE OF THE AUDIT OF THE FINANCIAL STATEMENTS

An audit involves obtaining evidence about the amounts and disclosures in the

financial

statements sufficient to give reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or error. This includes an assessment of: whether the accounting policies are appropriate to the company's circumstances and have been consistently applied and adequately disclosed; the reasonableness of significant accounting estimates made by the directors; and the overall presentation of the financial statements. OPINION ON FINANCIAL STATEMENTS ln our opinion the financial statements:

-

give a true and fair view of the state of the Charity's affairs as at 31 March 2011 and of its surplus for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance with the requirements of the Companies Act 2006.

COMMUNITY HOUSING CYMRU LIMITED (Limited by Guarantee) INDEPENDENT AUDITORS' REPORT TO THE TRUSTEES OF COMMUNITY HOUSING CYMRU FOR THE YEAR ENDED 31 MARCH 2OI1

OPINION ON MATTER PRESCRIBED BY THE COMPANIES ACT 2006

ln our opinion the information given in the Trustee's Report for the financial year for which the financial statements are prepared is consistent with the financial statements. MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION We have nothing to report in respect of the following matters where 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 directors' remuneration specified by law are not made; or

we have not received all the information and explanations we require for our audit; or the trustee's were not entitled to take advantage of the small companies' exemption in the Report of the Trustees

cuAN o'sHEA (SENIOR STATUTORY AUDITOR) FOR AND BEHALF OF BEVAN & BUCKLAND CHARTERED ACCOUNTANTS AND STATUTORY AUDITORS LANGDON HOUSE LANGDON ROAD

SWANSEA

8OY oo*

SA1

A

COMMUNITY HOUSING CYMRU LIMITED (Limited by Guarantee) COMPANY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2011

Restricted Unrestricted Funds Funds

Charity

Total Funds

Total Funds 2010 €

20'11

Notes







lncoming resources Ch arita

ble activitie s : 509,718

Grants receivable Affiliation fees Care & Repair Cymru Training course fees Marketing & conference income

509,719

832,154 47,027 202,175 311,147 6,780

Affinity contracts EU members levy Miscellaneous income Donations Gift Aid lnvestment income:

40,533 16,493 107,933

3,606

n,zia

128,146 284,517 5,711

45,575 5,690

1,065

16,302 2,127

674,677 1,416,202 2,090,979

1,413,411

1,065

Total incoming resources

198,634 726,709

832,154 47,027 202,175 311,147 6,780 40,533 20,099 107,933 12,248

Resources expended

(1,352,775) (1,991,039)

Charitable activities Governance costs

(538,264)

Total resources expended

(538,264) (1,362,700) (1,900,964) 136,413

Net incoming resources Fund balances brought forward

10

Fund balances carried forward

10

(9,925) 53,502

(1,333,116)

(9,925)

(17,485)

(1,350,601)

189,915

62,810

225,244 277,673

214,863

188,842 278,746 467,588

277,673

52,429

All activities are continuing operations. There are no other gains or losses for the financial year.

10

COMMUNITY HOUSING CYMRU LIMITED

(Limited by Guarantee) BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2011

2011

2010

Note FIXED ASSETS Tangible assets



I

16,631

o

lnvestments

23,264 I 23,265

107,934

@

CURRENT ASSETS Debtors

12

Cash at bank and in hand

267,408 401,738 669,146

285,067 240,457

525,524

CREDITORS: amounts falling due within one year Creditors

13

172,692

126,817

lncome received in advance

14

9,809 182,501

287,921 414.738

NET CURRENT ASSETS

343,023

254,408

@

TOTAL NET ASSETS

2

Represented by: FUNDS Restricted funds

10

Unrestricted funds

11

188,842 278,746

52,429 225,244 277,673

1975q9_

The Financiat Statements were approved by the Board of rrustees signed on their behalf by

:

"^

#q*!Oil, I

^^,

l,&x'rt.u*o-r KATRINA MICHAEL - TREASURER

11

COMMUNITY HOUSING CYMRU LIMITED (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 201'

1

ACCOUNTING POLICIES

a) Basis of Preparation The accounts have been prepared in accordance with Companies Act 2006 and the Statement of Recommended Practice: "Accounting and Reporting by Charities" issued in March 2005. The accounts are prepared under the historical cost convention. The Company is a registered charity, limited by guarantee and not having a share capital. The charity has taken advantage of the exemption in Financial Reporting Standard No1 from the requirement to produce a cash flow statement on the grounds that it is a small charity.

b) Basis of consolidation The consolidated accounts of the group incorporate the accounts of the charity and its subsidiary undertakings, both of which were prepared to 3'1 March 2011. The trading results of the subsidiary undertakings are consolidated on a line by line basis within the consolidated statement of financial activities (SOFA).

c)

Fund Accounting

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Designated funds are unrestricted funds earmarked by the Trustees for particular purposes falling in future time periods,

Restricted funds are funds subject to specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The aim and use of each restricted fund is set out in the notes to the financial statements.

d) lncoming Resources lncoming resources are included in the Statement Of Financial Activities when the charity is entitled to the income and the income can be quantified with reasonable accuracy. Grant income is accounted for on an accruals basis; and shown in the financial statements when the charity earns the unconditional right to funds.

e) Resources Expended Resources expended are included in the Statement of Financial Activities on an accruals basis as a liability is incurred, including inecoverable VAT.

12

COMMUNITY HOUSING CYMRU LIMITED (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2011

ACCOUNTING POLICIES (Cont'd)

e) Resources Expended (Cont'd) Cost of generating funds comprises direct costs associated with attracting grant income, being the proportion of time spent for direct headcount costs. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities, both costs directly attributable and indirect support costs. Governance costs include those costs associated with meeting constitutional and statutory requirements, principally accounting / audit and AGM expenses. All costs allocated between expenditure categories are on a basis designed to reflect their resource usage. For some costs this means direct allocation to activities, other costs are apportioned, e.g. by staff time spent on an activity, or another equitable usage measure.

f) Tangible Fixed Assets and Depreciation Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows: Furniture & Equipment Computers & Printers

20% 25% 25% 20%

PA System

lmprovements to leasehold property

written down value

straight line straight line straight line

g)

Pensions Pensions costs are charged

in the year in which premiums are payable. Differences between paid and amounts charged are included in the balances sheet as provisions or amounts prepayments. These contributions are invested separately from those of the Charitable Company's assets.

h) lnvestments lnvestments are included in the accounts at market value. Where held as an ongoing investment they are included within Fixed Assets. Unrealised gains on investments held are included separately from lnvestment lncome under'Other Recognised Gains'. The investment in the subsidiary is recorded at the value of the net assets on the date in which the subsidiary come into the group.

i) Related Party Transactions The Trustees have taken advantage of the exemption in FRS 8 paragraph 3(c) and have not disclosed related party transactions with its wholly owned subsidiary undertaking.

'13

COMMUNITY HOUSING CYMRU LIMITED (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2011

2

NET INCOMING RESOURCES ON ORDINARY ACTIVITIES AFTER CHARGING 2011

g

Depreciation Auditors' remuneration

3

12,012 5,910

- audit - other services

STAFF NUMBERS AND

2010

f

11,854 4,270

1,500

cosTs

Company Gross Salaries Social Security Pension Costs

2011 € 424,187

383,709

42,023

32,458

65,594 531,804

49,730

2010

f

__165,992

lncluded within pension costs is an amount of t29,280 (2010 €nil) for past service costs

The average number of employees, (excluding directors who are trustees) analysed by function was as follows:

2011

2010

Number

Number

Corporate services

4

Communications Policy Events Public relations

1

2 2 b 2

I 2

::6

Highest Paid

Employees

90,001 - 100,000

Highest Paid

Employees

70,00'1 - 80,000

1

1

IJ -'-F

-

_____l_

-

The Pensions Contributions relating to the highest paid employee amount to f6,886. The increase in the salary of the highest paid employee is directly attributable to the formation of the Group during the year. The rise represents additional duties and responsibilities across Community Housing Cymru, Care & Repair Cymru and the Centre for Regeneration Excellence Wales

14

1

COMMUNITY HOUSING CYMRU LIMITED (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 201,|

STAFF NUMBERS AND COSTS . CON'T Company The trustees received no emoluments from the charitable company. Trustees were not reimbursed for any expenses during the year. During the year the company loaned t10,000 to the highest paid employee in order to purchase a vehicle, the amount outstanding at the year end amounted to f7,708.

At the year end there were loans made to staff members in order to purchase vehicles amounting to f26,665 (2010 17,292)

4 GRANT INCOME

Unrestricted Funds

Restricted Funds

Total Funds

Total Funds





2011 €

2010 €

24,000

14,636

7,07:

Grants Receivable: WERU Money Advisor Funding

8,500

24,000 7,075

GlobalAccounts Supported Housing Officer RSL Moneyline Contributions Financial lnclusion Officer

CREW

39,8;

39,870

223,203

223,203

7,500 35,056 1,200 38,323 92,731

173,570 12,000 5,000 25,000

173,570

_utt

EU Regeneration Project

WHIT lncome Homelessness grant Construction Skills CRC office move

-dm-

12,000 5,000

25,000

@,

_199€91

Donations The Donation received of C107,933 relates to the acquisition of the trading subsidiary Care & Repair Cymru at 1st July 2010. The amount relates to the value of the net assets at that date which have been effectively been gifted to the company.

15

COMMUNITY HOUSING CYMRU LIMITED (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 3I MARCH 2011

6

INTEREST RECEIVABLE

2011

Bank deposit interest

7

2010

f

Company

e

1,065

127

TAXATION

As a registered charity, there is no liability to tax on income and gains falling within section 505 of the Taxes Act 1988 or s256 of the Taxation of Chargeable Gains Act 1992, insofar as these are applied to the Charitable objects of the Charity.

TANGIBLE FIXED ASSETS

Charity

cosr At beginning of year Additions Disposals At end of year

FURNITURE

t ,o,o:

OFFICE

COMPUTERS

OFFICE

TOTAL

EQUIPMENT & PRINTERS IMPROVEMENTS € €

e

77,932

105,753

n:

_%,036_____J.q56_

_1

1

0,208_

DEPRECIATION

At beginning of year Charge for year Eliminated on disposal At end of year NET BOOK VALUE At 31 March 2011

At 31 March 2010

19,644

73,075

95,723

ur_u

1,45:

5,69_5

@re__:i6i7iE 3,514

31,558

239,279 5,379

559_

244,658

4,45:

4.327

__3

1,

27,573 3,985

__::--IEstr 8,790

_4,3s2__N___1qg!q

16

216,015 12,012

@ 16.631

3.985

23,264

COMMUNITY HOUS]NG CYMRU LIMITED (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2011

FIXED ASSET INVESTM ENTS Charity

SHARES IN GROUP UNDERTAKINGS €

Cost or valuation At beginning of year Addition during the year

TOTAL €

1

1

107,933

107,933

Market value at 31 March 2011

-idre.5a:::@

The shares in group undertakings are the charitable company's investment in the trading subsidiary, Community Housing Cymru - Policy and Research Limited, a company that generates funds for and is operated by Community Housing Cymru Limited and Care & Repair Cymru Limited. The investment represents the holding of 100% of the ordinary shares of f 1 each. The fixed asset investment addition is the charitable company's investment in the trading subsidiary Care & Repair Cymru. The investment represents the net assets held at 1 July 2010 of the subsidiary that have been effectively gifted to the company.

1O RESTRICTED INCOME FUNDS

At l April

lncome

Expenses

2010 €



Supported Housing Officer Financial lnclusion Officer

31

March 2011 €

(24,816)

24,816 5,54_0

CREW CREW INCOME EU Members Levy CRC Office Move Homelessness Grant Money Advisor funding WHIT lncome Construction Skills



At

39,870

(42,06e)

223,243

(223,203)

16,493 40,533 25,000 12,000

22,073

16,493

(37,970)

25,000

tg,gs6l

8,04:

173,570 5,000

3,395

7,075

(7,075)

107,933

Care & Repair Cymru

_52,42e_ _674,67J_ _€gqq

17

24,636

(24,000) (173,570) (1,605)

24,000

GlobalAccounts

3,341

107,93;

_188,842_

COMMUNITY HOUSING CYMRU LIMITED (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2011

11 ANALYSIS OF NET ASSETS BETWEEN FUNDS

Restricted Unrestricted Funds Funds

Total Funds

c





At 31 March 2011 Tangible Fixed Assets lnvestments Current Assets Current Liabilities

12

107,933

80,909

16,631

16,631

1

107,934 525,524 (182,501)

444,615 (182,501)

DEBTORS

Amount due from Community Housing Cymru - Research & Policy Ltd Training & conference income, etc Other debtors Prepayments & accrued income Grant debtors VAT

2011 €

2010

8,031

607 88,365 7,292 64,049 106,960



74,011 26,665 62,372 113,988

_:[email protected]

re

135

13 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2011 €

2010

Trade Creditors

128,899

Other Creditors

43,793

94,291 32,526

172-692 14 INCOME RECEIVED



126,817

IN ADVANCE

2011

€ Grant income Training courses & conferences Affiliation fees

2010

t

20,121

4,430 9,809

18

263,370

COMMUNITY HOUSING CYMRU LIMITED

Nor

inptrm

15

ES'i'ifi

I"$

fl fJ'xruTif

.

ME

Nrs

FoR THE YEAR ENDED 31 MAR.H 2011

'HARE The charitable company is limited by guarantee and as such has no share capital. ln the event of the charitable company being wound up, the liability of each member is limited to f '1.

16

RELATED PARTY TRANSACTIONS

The trustees of Community Housing Cymru Limited are associated with Registered Social Landlords who pay affiliation fees to the charity. They are either employees or trustees of the registered social landlords. During the year the Charity was Gift-aided a donation of 812,248 (2010 C16,302) from its subsidiary, Community Housing Cymru Policy and Research Limited. During the year the company acquired the net assets of its trading subsidiary Care & Repair Cymru amounting to €107,933 the net assets were gifted to the company and shown as a donation being received.

There was a recharge of administrative expenses amounting to L47,027 between Community Housing Cymru and Care & Repair Cymru.

17

FINANCIALCOMMITMENTS

There is an operating lease commitment of e39,950 per annum, in respect of rental of land and buildings. The lease expires in more than five years.

18

PENSION OBLIGATIONS

Community Housing Cymru Limited participates in the Social Housing Pension Scheme (SHPS). The Scheme is funded and is contracted out of the state scheme. It is not possible in the normal course of events to identify on a consistent and reasonable basis the share of underlying assets and liabilities belonging to individual participating employers. This is because the scheme is a multi employer scheme where the scheme assets are co-mingled for investment purposes and benefits are paid from total scheme assets. Accordingly, due to the nature of the scheme. the accounting charge for the period under FRS 17 represents the employer contribution payable.

The Trustee commissions an actuarial valuation of the scheme every three years. The main purpose of the valuation is to determine the financial position of the Scheme in order to address the level of future contributions required so that the Scheme can meet its pension obligations as they fall due. The last formal valuation of the Scheme was performed as at 30 September 2008 by a professional qualified actuary using the Projected Unit Method. The market value of the Scheme's assets at the valuation date was t1,527 million. The valuation revealed a shortfall of assets compared with the value of liabilities of t663 million, equivalent to a past service funding levelof 69.7o/o. The Scheme Actuary has prepared an Actuarial Report that provides an approximate update on the funding position of the Scheme as at 30 September 2010. Such a report is reguired by legislation for years in which a full actuarial valuation is not carried out. The funding update revealed an increase in the assets Scheme to f 1,985 million and indicated a reduction in the shortfall of assets compared to liabilities to approximately f497 million, equivalent to a past service funding level of 80% The next triennial formal valuation of the Scheme is due as at 30 September 201 1. The results will be available in the autumn of 2012.

19

COMMUNITY HOUSING CYMRU LIMITED (Limited by Guarantee) DETAILED PROFITAND LOSS ACCOUNT FOR THE YEAR ENDED 31 MARCH 2011

2011 INCOME Welsh Assembly Government Grant funded expenditure Affiliation fees Care & Repair Cymru Gift Aid Training course fees Marketing income & conference fees Donation Affinity contracts CREW lncome Sundry income PR Campaign RSL Contributions lnterest receivable EXPENDITURE Grant expenses Training courses Marketing & conferences Care & Repair Cymru Rent & building insurance Rates & water Light & heat Equipment leasing & maintenance Repairs, renewals & cleaning Salary & pensions Staff travel staff training & recruitment lnsurance Telephone Printing, postage & stationery Software & maintenance Meeting & council travel costs Public relations Translation costs Publications & subscriptions Professional fees Auditors' remuneration Miscellaneous expenses Entertaining Bad debts Bank interest & charges Depreciation: Office improvements Depreciation: Office furniture Depreciation: Equipment Corporation Tax: Re: prior years

APPENDIX

2010



€ 509,7'18

I 88 934

832,154 47,027 12,248 181,220 294,431 107,933 6,780 16,493 41,277 40,533

726,708

8,500

1,065 2,090,979 533,430 122,169 225,272 37,907 47,027 40,862 3,852

16,302 128,146 284,517 5,712 5,690 45,575 1,200 2,127

,l,413,4'|1 18s,351 88,828 209, 1 98

98,399

6,6't6

38,411 2,734 5,747

2,980 3,437 531,804

3,608 465,897

25,914 33,497 17,979

'1,899

21,982 21,840 17,952

9,445

8,443

14,563

12,349 2,274 12,039 24,181

6,128 5,037 52,368 16,709 12,249 114,430

7,410 2,825 2,131 12,001 910 3,98s

878 7,149

1900864

22,571 I 3,816 63,877 6,960

4,O69

5,743 251

2,353 1,098 8,403 360 1,350,633

62,778

Net surplus

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1