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REGISTERED NUMBER: 07266506 (England and Wales)









COMMUNITIES AND HOUSING
INVESTMENT CONSORTIUM LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024






COMMUNITIES AND HOUSING
INVESTMENT CONSORTIUM LIMITED (REGISTERED NUMBER: 07266506)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


COMMUNITIES AND HOUSING
INVESTMENT CONSORTIUM LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: M I Akinyemi
J Stringer
D M Wells
S K Payling
C Johnson
I Davies
C Lawley
A Long
V L Speakman
S T J Porter





SECRETARY: Ark Consultancy Ltd





REGISTERED OFFICE: 84 Spencer Street
Birmingham
B1 3ND





REGISTERED NUMBER: 07266506 (England and Wales)





AUDITORS: UHY Hacker Young (Birmingham) LLP,
Statutory Auditor
9-11 Vittoria Street
Birmingham
B1 3ND

COMMUNITIES AND HOUSING
INVESTMENT CONSORTIUM LIMITED (REGISTERED NUMBER: 07266506)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 67,429 72,877
67,429 72,877

CURRENT ASSETS
Debtors 6 1,377,441 1,290,327
Cash at bank 653,089 214,209
2,030,530 1,504,536
CREDITORS
Amounts falling due within one year 7 730,595 597,018
NET CURRENT ASSETS 1,299,935 907,518
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,367,364

980,395

PROVISIONS FOR LIABILITIES 16,857 18,219
NET ASSETS 1,350,507 962,176

RESERVES
Income and expenditure account 1,350,507 962,176
1,350,507 962,176

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income and expenditure account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2024 and were signed on its behalf by:




A Long - Director


COMMUNITIES AND HOUSING
INVESTMENT CONSORTIUM LIMITED (REGISTERED NUMBER: 07266506)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Communities and Housing Investment Consortium Limited is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Report Standard applicable in the UK and Republic of Ireland" and Companies act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in Sterling (£), which is the functional currency of the company. The financial statements are for the year ended 30 June 2024.

Going concern
The directors have assessed their cashflow and profit projections for a period of 12 months from the approval of these financial statements.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of two years.

Tangible fixed assets
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Furniture and Equipment - 5% Reducing Balance
Computer Equipment - 20% Straight Line

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income and expenditure account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


COMMUNITIES AND HOUSING
INVESTMENT CONSORTIUM LIMITED (REGISTERED NUMBER: 07266506)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Income
Income is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Income is recognised when provision of services has been confirmed. The trigger point for the provision of services is receipt of a capital spend report from a developer. This is then used to calculate the fee to be raised to the customer, which is at an agreed rate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 July 2023
and 30 June 2024 25,000
AMORTISATION
At 1 July 2023
and 30 June 2024 25,000
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 -

COMMUNITIES AND HOUSING
INVESTMENT CONSORTIUM LIMITED (REGISTERED NUMBER: 07266506)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023
and 30 June 2024 90,826
DEPRECIATION
At 1 July 2023 17,949
Charge for year 5,448
At 30 June 2024 23,397
NET BOOK VALUE
At 30 June 2024 67,429
At 30 June 2023 72,877

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 837,289 817,439
Other debtors 1,317 -
Accrued income 470,051 414,843
Prepayments 68,784 58,045
1,377,441 1,290,327

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 429,094 258,297
Corporation tax 130,796 104,194
VAT 31,203 47,310
Accrued expenses 139,502 187,217
730,595 597,018

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Malcolm Winston (Senior Statutory Auditor)
for and on behalf of UHY Hacker Young (Birmingham) LLP,

COMMUNITIES AND HOUSING
INVESTMENT CONSORTIUM LIMITED (REGISTERED NUMBER: 07266506)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

9. RELATED PARTY TRANSACTIONS

The company is owned by its members, representatives of which comprise a Board of Directors. There is also a significant influence from its principal creditor Ark Consultancy Limited.

During the year the company made payments to Ark Consultancy Limited totalling £3,602,908 (2023: £2,433,704). At 30 June 2024 there was a balance outstanding of £407,704 (2023: £371,411).

During the year the company received income from Ark Consultancy Limited via recharges totalling £40,646 (2023: £20,637). At 30 June 2024 there was a balance outstanding of £7,081 (2023: £400).

During the year the company paid Director Remuneration of £36,667 (2023: £20,000).

CHIP (Communities and Housing Investing in People), a charity connected to CHIC as a result of common trustees Sarah Payling and Jayne Stringer, received donations totalling £160,681 (2023: £20,000).

During the year the company made payments to CHIP for sponsorship totalling £3,200 (2023: £1,820). At 30 June 2024 there was a balance outstanding of £1,000 (2023: £nil)

During the year the company received income from CHIP via recharges totalling £1,803 (2023: £9,014) At 30 June 2024 there was a balance outstanding of £117 (2023: £9,014).

Ocean Media (Topco) Limited is connected to CHIC as a result of a common Director. During the year the company purchased services from Ocean Media (Topco) Limited totalling £57,981 (2023: £54,143). At 30 June 2024 there was a balance outstanding of £19,469 (2023: £150).Transactions were conducted on an arms length basis.

10. MEMBERS LIABILITY

The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets and liabilities of the company on winding up such amounts as may be required not exceeding £1.