Company registration number 03785174 (England and Wales)
THE HOUSING FORUM LIMITED
(A COMPANY LIMITED BY GUARANTEE)
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
THE HOUSING FORUM LIMITED
COMPANY INFORMATION
Directors
M Chowdery
S F Grant
S J Teagle
C Compton-James
(Resigned 31 July 2023)
J W W Ratcliff
T Reid
K S A Saunders
(Appointed 29 April 2024)
Company number
03785174
Registered office
6th Floor
1 Minster Court
Mincing Lane
London
EC3R 7AA
Auditor
Griffin Stone Moscrop & Co
21-27 Lamb's Conduit Street
London
WC1N 3GS
THE HOUSING FORUM LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 8
THE HOUSING FORUM LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
4
-
0
2,699
Tangible assets
5
9,441
12,441
Investments
6
134,745
125,045
144,186
140,185
Current assets
Debtors
7
242,085
408,373
Cash at bank and in hand
167,858
364,468
409,943
772,841
Creditors: amounts falling due within one year
8
(367,302)
(636,810)
Net current assets
42,641
136,031
Net assets
186,827
276,216
Reserves
Income and expenditure account
186,827
276,216
Members' funds
186,827
276,216

The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime, and in accordance with the provisions of FRS 102 section 1A - small entities.

The financial statements were approved by the board of directors and authorised for issue on 22 November 2024 and are signed on its behalf by:
S F Grant
S J Teagle
Director
Director
Company registration number 03785174 (England and Wales)
THE HOUSING FORUM LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information

The Housing Forum Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 6th Floor, 1 Minster Court, Mincing Lane, London, EC3R 7AA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The principal accounting policies adopted are set out below.

1.2
Income and expenditure

Membership income is included in the financial statements on a receipts basis, as the company does not have entitlement to the income until it is received.

 

Other income is included in the financial statements as they become receivable or due. Expenditure is included on an accruals basis.

1.3
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Rebrand
over 5 years on cost
1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computer equipment & website
20% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to surplus or deficit.

1.5
Fixed asset investments

Fixed asset investments are initially recognised at their transaction cost and subsequently measured at fair value at each reporting date, unless the value cannot be measured reliably in which case it is measured at cost less impairment.

THE HOUSING FORUM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.9
Taxation

UK corporation tax is provided at the rate applicable to the profit for the year. The Housing Forum Limited has obtained "not-for-profit" status from HMRC and therefore the rate applicable on income for the year will be zero.

THE HOUSING FORUM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Directors
1
1
Administrative staff
6
4
Total
7
5
THE HOUSING FORUM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
4
Intangible fixed assets
Rebrand
£
Cost
At 1 April 2023 and 31 March 2024
13,495
Amortisation and impairment
At 1 April 2023
10,796
Amortisation charged for the year
2,699
At 31 March 2024
13,495
Carrying amount
At 31 March 2024
-
0
At 31 March 2023
2,699
5
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023
17,231
Additions
482
At 31 March 2024
17,713
Depreciation and impairment
At 1 April 2023
4,790
Depreciation charged in the year
3,482
At 31 March 2024
8,272
Carrying amount
At 31 March 2024
9,441
At 31 March 2023
12,441
6
Fixed asset investments
2024
2023
£
£
Other investments other than loans
134,745
125,045
THE HOUSING FORUM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
6
Fixed asset investments
(Continued)
- 6 -
Fixed asset investments revalued

The historical cost of fixed asset investments at the balance sheet date was £125,983 (2023: £124,864).

 

The fair value of listed investments is determined by reference to the market value. The listed investments are wholly comprised of an investment portfolio managed by Rathbones.

Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 April 2023
125,045
Additions
164,989
Valuation changes
8,643
Crystallised Gains
(2,221)
Disposals
(161,711)
At 31 March 2024
134,745
Carrying amount
At 31 March 2024
134,745
At 31 March 2023
125,045
7
Debtors
2024
2023
Amounts falling due within one year:
£
£
Membership fees due
218,010
381,364
Other debtors
3,515
5,950
Prepayments and accrued income
20,560
21,059
242,085
408,373
8
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
16,058
12,427
Corporation tax
482
236
Other taxation and social security
62,964
104,947
Other creditors
5,354
4,695
Accruals and deferred income
282,444
514,505
367,302
636,810
THE HOUSING FORUM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -
9
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
28,381
21,016

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

The amounts included in the balance sheet arising from the company's obligations in respect of defined benefit plans at the year end are £4,376 (2023: £3,867).

 

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 or liabilities of the company on winding up such amounts as may be required not exceeding £1.

11
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Reema Mistry
Statutory Auditor:
Griffin Stone Moscrop & Co
12
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
2,374
5,240
THE HOUSING FORUM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 8 -
13
Related party transactions

During the year the company entered into transactions with companies associated with the directors of the company. These transactions were as follows:

 

Vistry Group (formerly Countryside Partnerships), an entity to whom Stephen Teagle is CEO Partnerships and Regeneration, provided the company with membership income in the year of £12,840 (2023: £12,230) and sponsorship fees of £5,000 (2023: £2,150).

 

Network Homes (now Sovereign Network Group), an entity to whom Jamie Ratcliff is Chief Communities and Sustainability Officer, provided the company with membership income in the year of £6,450 (2023: £6,140).

 

NHBC Services Limited, an entity to whom Tim Reid is an Executive Customer Relationship Director and Mehban Chowdery is Regional Director - London, provided the company with membership income in the year of £12,840 (2023: £12,230) and sponsorship income in the year of £1,398 (2023: £nil). The company provided NHBC with service charge fees in the year of £30,000 (2023: £30,000).

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