New Homes Quality Board Limited

	Page
Balance Sheet	1
Notes to the Financial Statements	2—6

1. General Information

New Homes Quality Board Limited is a private company, limited by guarantee, incorporated in England & Wales, registered number 13116068 . The registered office is 86-90 Paul Street, London, EC2A 4NE.

2. Statement of Compliance

The financial statements have been prepared in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

The company has chosen to select partial exemption under FRS102 1A Small Companies Regime Paragraph 3.1B for the exemption of presenting a statement of cashflows.

3. Accounting Policies

3.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention.

3.2. Going Concern Disclosure

The directors have assessed the going concern status. Their assessment considered the NHQB's strategy, balance sheet and capital requirements. The directors have prepared forecasts for a period in excess of 12 months from the date of approval of these financial statements. These forecasts and projections show that the company is expected to be able to operate within the levels of its current facilities. Accordingly, they continue to adopt the going concern basis in preparing the annual report and financial statements.

3.3. Significant judgements and estimations

Estimates and judgements are continually evaluated and are based on historical information and other factors, including expectations of future events that are believed to be reasonable under the circumstances. A material judgement in the accounts is made on the recognition of revenue per the revenue recognition note.

3.4. Turnover

The organisation's revenue comes from the fees it charges to developers.

Fees received from developers are to be spread over the period to which they relate equally.

3.5. Intangible Fixed Assets and Amortisation - Other Intangible

The board considers costs incurred in the creation and ongoing development of the organisation's website and CRM system to be expenditure and have opted not to capitalise and amortise such costs.

3.6. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Office equipment

33.33% straight line

3.7. Cash and Cash Equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

3.8. Taxation

The main objective of the company’s business is for the public benefit to reform the quality of the development of new homes. This activity is not carried on with a view to creating a profit as enshrined in the articles and the activity does not meet any other of the commonly established badges of trade as set out in Business Income Manual BIM20200.

To perform the main company objective, NHQB receives its main income in the form of developers’ fees.

NHQB's Corporation Tax Liability has been calculated based on the following approach:

Income from developers’ fees is treated as non-trading activity and exempt from corporation tax.

Other income which is not income from developers’ fees (income from accredited suppliers and interest received) will be subject to corporation tax.

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New Homes Quality Board Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2025

3.9. Provisions and Contingencies

Provisions

Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged to the profit and loss in the year that the company becomes aware of the obligation, and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Balance sheet.

3.10. Pensions

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3.11. Trade Debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. The company subsequently considers the recoverable value of the trade debtors. When assessing impairment of trade debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience.

3.12. Borrowings

Interest-bearing borrowings are initially recorded at transaction price, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income and expenditure account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3.13. Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

4. Average Number of Employees

Average number of employees, including directors, during the year was: 18 (2024: 15)

5. Tangible Assets

	Office equipment
	£
Cost
As at 1 July 2024	18,257
Additions	1,620

As at 30 June 2025	19,877

...CONTINUED

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New Homes Quality Board Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2025

Depreciation
As at 1 July 2024	13,236
Provided during the period	4,738

As at 30 June 2025	17,974

Net Book Value
As at 30 June 2025	1,903

As at 1 July 2024	5,021

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	354,550	224,880
Accrued income	29,578	3,489
Prepayment	70,070	86,275

	454,198	314,644

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	134,638	130,459
Corporation tax	55,288	-
Other taxes and social security	29,226	30,313
VAT	126,242	87,905
Pensions payable	9,741	10,139
Credit Card Control Account	6,466	6,853
Deferred Income	869,991	1,134,044
Accrual	26,653	27,183
Other short term creditors	23,500	-

	1,281,745	1,426,896

8. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Third-party loans	-	671,222

9. Loans

An analysis of third-party loans (details included in Related Party Disclosures in note 11):

	2025	2024
	£	£
Amounts falling due between one and five years:
Other loans	-	671,222

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New Homes Quality Board Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2025

10. Reserves

	Reserves
	£
As at 1 July 2024	1,733,727
Movement in the year	1,741,728
As at 30 June 2025	3,475,455

11. Post Balance Sheet Events

Subsequent Event – Incorporation of Subsidiary

Subsequent to the year end, on 7th October 2025, New Homes Quality Board Ltd incorporated a wholly owned subsidiary, Shared Ownership Code Limited.

The subsidiary was established for administration of the Shared Ownership Code, a code of practice for registered housing providers. It aims to ensure transparency, fairness, and improved support for shared owners in marketing, purchasing, and management of homes.

12. Related Party Disclosures

Home Builders Federation

Jennifer Daly is a director of Home Builders Federation and New Homes Quality Board Limited.

Home Builders Federation has provided an interest-free loan to New Homes Quality Board Limited. The loan has been paid back in full in June 2025 (£166,677).

Taylor Wimpey

Jennifer Daly is a director of Taylor Wimpey PLC and New Homes Quality Board Limited.

Taylor Wimpey PLC paid fees to New Homes Quality Board Limited for the period 01 September 2024 -30 August 2025, £275,000 (VAT exc). Fees of £45,833 out of £275,000 have been deferred to YE 30 June 2026.

Hopkins Homes Limited

Duncan Francis Jackson is a director of Hopkins Homes Limited and New Homes Quality Board Limited.

Hopkins Homes paid New Homes Quality Board fees to cover the period 1 Aug 2024 -30 April 2025, £31,875 (VAT exc).

Tara Development Limited

Ian Austen Burns is a director of Tara Development Limited and New Homes Quality Board Limited.

Tara Group paid New Homes Quality Board fees to cover the period 1 July 2024 -30 June 2025, £34,000 (VAT exc).

National House Building Council

Steven Archibald Wood is a director of National House Building Council and New Homes Quality Board Limited.

National House Building Council (NHBC) has provided a loan to New Homes Quality Board Limited (the annual interest rate is 2.5%, interest accrues daily). The loan has been paid back in full in June 2025 (£500,000). During the accounting period, two interest payments have been made to NHBC (23 March 2025 £13,938.36, 13 June 2025 £2,448.63).

13. Company limited by guarantee

The company is limited by guarantee and has no share capital.

Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £10.

14. FRC's Ethical Standard - Provision Available for Small Entities

In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

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New Homes Quality Board Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2025

15. Audit Information

The auditor's report on the accounts of New Homes Quality Board Limited for the year ended 30 June 2025 was unqualified.

The auditor's report was signed by Julia Poulter (Senior Statutory Auditor) for and on behalf of Crowe U.K. LLP , Statutory Auditor.

Crowe U.K. LLP

55 Ludgate Hill

London

EC4M 7JW

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		1,903		5,021

			1,903		5,021
CURRENT ASSETS
Debtors	6	454,198		314,644
Cash at bank and in hand		4,301,099		3,512,180

		4,755,297		3,826,824
Creditors: Amounts Falling Due Within One Year	7	(1,281,745 )		(1,426,896 )

NET CURRENT ASSETS (LIABILITIES)			3,473,552		2,399,928

TOTAL ASSETS LESS CURRENT LIABILITIES			3,475,455		2,404,949

Creditors: Amounts Falling Due After More Than One Year	8		-		(671,222 )

NET ASSETS			3,475,455		1,733,727

Income and Expenditure Account			3,475,455		1,733,727

MEMBERS' FUNDS			3,475,455		1,733,727