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# PINES HOUSING CIC

## Company Registration Number:
15407682 (England and Wales)

## Unaudited statutory accounts for the year ended 31 December 2024

## Period of accounts

## Start date: 12 January 2024

## End date: 31 December 2024

# PINES HOUSING CIC

## Contents of the Financial Statements

for the Period Ended 31 December 2024

Balance sheet |
Additional notes |
Balance sheet notes |
Community Interest Report |

# PINES HOUSING CIC

## Balance sheet

As at 31 December 2024

| Notes | 2024
--- | --- | ---
|  | £
Called up share capital not paid: |  | 0 |
Fixed assets
Intangible assets: |  | 0 |
Tangible assets: | 3 | 371,542 |
Investments: |  | 0 |
Total fixed assets: |  | 371,542
Current assets
Stocks: |  | 0 |
Debtors: | 4 | 160,778 |
Cash at bank and in hand: |  | 244,878 |
Investments: |  | 0 |
Total current assets: |  | 405,656
Prepayments and accrued income: |  | 0 |
Creditors: amounts falling due within one year: | 5 | ( 948,499 ) |
Net current assets (liabilities): |  | (542,843)
Total assets less current liabilities: |  | (171,301)
Creditors: amounts falling due after more than one year: |  | 0 |
Provision for liabilities: |  | 0 |
Accruals and deferred income: |  | 0 |
Total net assets (liabilities): |  | (171,301)
Capital and reserves
Called up share capital: |  | 1 |
Share premium account: |  | 0 |
Other reserves: |  | 0 |
Profit and loss account: |  | (171,302 ) |
Total Shareholders' funds: |  | ( 171,301 )

The notes form part of these financial statements

# PINES HOUSING CIC

## Balance sheet statements

For the year ending 31 December 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 30 September 2025
and signed on behalf of the board by:

Name: Richard Paul
Status: Director

The notes form part of these financial statements

# PINES HOUSING CIC

## Notes to the Financial Statements

for the Period Ended 31 December 2024

- ## 1. Accounting policies

  Basis of measurement and preparation

  These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

  Turnover policy

  Revenue comprises turnover recognised by the CIC in respect of rental income and related recharged expenditure receivable during the reporting period with amounts recognised in accordance with the underlying contractual arrangement on a straight line basis over the term of occupancy and is measured as the fair value of the consideration received or receivable. The CIC does not expect to have any contracts where the period between the transfer of the contracted goods and services and their related payment exceeds one year. As a consequence, the CIC does not adjust any of the transaction prices for the time value of money.

  Tangible fixed assets depreciation policy

  Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is provided on the following basis: Long-term leasehold property - Straight line over the lease term The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

  Other accounting policies

  Debtors Debtors are initially measured at transaction price (i.e fair value) and subsequently held, at transaction price less provision for impairment of assets. Cash and cash equivalents Cash balances are reported as being financial instruments classified as short term receivables and are represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours and subject to an insignificant risk of changes in value. Cash balances are held at floating interest rates linked to UK bank rates. Creditors Creditors, including non-interest bearing loans that are repayable on demand, are initially measured and subsequently held at transaction price (i.e fair value). Equity Ordinary share capital, shown in equity, is initially measured and subsequently held at its nominal value.

# PINES HOUSING CIC

## Notes to the Financial Statements

for the Period Ended 31 December 2024

- ## 2. Employees

  | 2024
  --- | ---
  Average number of employees during the period | 0 |

# PINES HOUSING CIC

## Notes to the Financial Statements

for the Period Ended 31 December 2024

## 3. Tangible assets

| Land & buildings | Plant & machinery | Fixtures & fittings | Office equipment | Motor vehicles | Total
--- | --- | --- | --- | --- | --- | ---
Cost | £ | £ | £ | £ | £ | £
Additions | 377,869 |  |  |  |  | 377,869
Disposals |  |  |  |  |  |
Revaluations |  |  |  |  |  |
Transfers |  |  |  |  |  |
At 31 December 2024 | 377,869 |  |  |  |  | 377,869
Depreciation |  |  |  |  |  |
Charge for year | 6,327 |  |  |  |  | 6,327
On disposals |  |  |  |  |  |
Other adjustments |  |  |  |  |  |
At 31 December 2024 | 6,327 |  |  |  |  | 6,327
Net book value |  |  |  |  |  |
At 31 December 2024 | 371,542 |  |  |  |  | 371,542

# PINES HOUSING CIC

## Notes to the Financial Statements

for the Period Ended 31 December 2024

## 4. Debtors

| 2024
--- | ---
| £
Trade debtors | 5,140 |
Prepayments and accrued income | 147,985 |
Other debtors | 7,653 |
Total | 160,778
Debtors due after more than one year: | 0 |

# PINES HOUSING CIC

## Notes to the Financial Statements

for the Period Ended 31 December 2024

## 5. Creditors: amounts falling due within one year note

| 2024
--- | ---
| £
Trade creditors | 24,927 |
Taxation and social security | 400 |
Accruals and deferred income | 435,240 |
Other creditors | 487,932 |
Total | 948,499

# COMMUNITY INTEREST ANNUAL REPORT

### PINES HOUSING CIC

### Company Number: 15407682 (England and Wales)

### Year Ending: 31 December 2024

Company activities and impact

Over the past financial year the company, Pines Housing, has been directly benefiting communities by aggregating a portfolio of safe, quality homes across London and making them available on affordable terms i.e. by reference to LHA rates. This has a meaningful impact by providing access to affordable housing for individuals who might otherwise struggle with housing insecurity. Our partnerships with tenant operators have allowed us to maintain long-term, financially sustainable tenancies, reducing the turnover and disruption typically associated with low-cost housing models. By targeting areas with high need yet limited supply, Pines helps to alleviate pressure on emergency accommodation systems and reduces the social cost of chronic housing instability. In addition to providing housing, Pines contributes to community stability and economic benefit in several ways. We support local trades and suppliers during our refurbishment projects, thereby generating employment and local economic activity. In addition, stable housing enables residents to more reliably access education, health, and employment opportunities, which in turn supports wellbeing and social cohesion in the communities where we operate.

Consultation with stakeholders

No consultation with stakeholders

Directors' remuneration

The total amount paid or receivable by directors in respect of qualifying services was £18,333. There were no other transactions or arrangements in connection with the remuneration of directors, or compensation for director’s loss of office, which require to be disclosed.

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
30 September 2025

And signed on behalf of the board by:
Name: Richard Paul
Status: Director