Annual report and account 2014

Annual report and accounts 2014

The Chartered Institute of Housing is the independent voice for housing and the home of professional standards.

www.cih.org

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Contents Message from the Chair of the Governing Board and the Chief Executive

page 4

Our year in numbers

page 6

Our members

page 10

Trustees’ report

page 12

Trustees 2014

page 17

Independent auditors’ statement to the trustees

page 18

Statement of accounts

page 19

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Message from the Chair of the Governing Board and the Chief Executive This annual report shows how we have continued our work to ensure that CIH is a modern and dynamic professional body delivering value to its members and supporting and promoting professionalism across the housing industry. Everything we do is based on our role as the independent voice for housing and the home of professional standards. Building on the progress we made in 2012 and 2013 means that we have delivered against the priorities set out in our 2012-2015 Corporate Plan.

In all that we do we are informed and inspired by the work of our members in the UK and beyond. To this end we have continued to work with our national and regional boards to make sure that all our work is shaped by, and benefits from, their input and reflects the experience and concerns of housing professionals in their day to day careers.

This year we have continued to invest in making CIH fit for the future. We have reviewed our specification for chartered membership so that it remains a relevant and up to date industry standard reflecting the needs of modern professionals and the environment in which they work. And we have introduced new pathways to chartered membership, opening up new ways of studying for a professional qualification as well as better ways of recognising the knowledge and expertise of experienced housing professionals.

We have also invested in new resources so that we can support CIH members to plan and manage their careers, ensuring that membership of the professional body offers our members a competitive advantage in the labour market. Our new career development tool was developed throughout 2014 and launched in early 2015. And our good practice publications and events continue to be a valued element of CIH membership with a very successful programme of member-only webinars and our timely and concise “what you need to know� briefings.

We have also developed and launched a new code of ethics. As a leading professional body we believe it is right that CIH has as

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strong a focus on the values and ethics that housing professionals should demonstrate as on the skills and knowledge they need.

As an educational charity CIH has an important role in ensuring that the standards of housing education across the UK reflect modern professional practice and equip students to be successful in the world of work. In 2014 we worked to ensure that our educational framework remains fit for purpose and guarantees that students qualifying from a CIH-accredited course will possess the skills and abilities that employers value. We developed a new higher education strategy, reviewing the way we accredit university education, which allowed us to respond to the closure of housing courses in English universities and to engage more effectively with those universities continuing to deliver housing education. And we began a strategic review of our accreditation centres to make sure they continue to perform to the highest standard. This review will continue into 2015.

Across 2014 we have continued to review and improve our commercial activities, implementing a new commercial strategy with a stronger focus on our business to business services sitting alongside our continued support to individual members.

Our corporate partnership and premier service contracts have proved popular, providing a more holistic range of services to our customers and greater income certainty to CIH. Our conferences and events programme featured 73 different events, including our highly successful regional annual conferences. And our annual conference in Manchester continues to be the single largest event in the housing calendar and the centrepiece of our successful relationship with Ocean Media Group. CIH consultancy has continued to grow and worked with more than 150 organisations across all parts of the UK across the course of the year.

The long run-up to the May 2015 UK General Election started in earnest this year. The housing market across the UK is facing a range of challenges - too many households are being denied the basic opportunity to access a home that meets their needs at a price they can afford. CIH has worked to influence all the major

political parties and the public to raise the profile of housing and to make the case for a policy framework that will address the shortcomings of our current housing system. This included a wellreceived report published jointly with the Resolution Foundation recommending a series of improvements to the policy framework for the private rented sector. Our election work has been strongly informed by our members and especially by our 450- strong member election panel. As part of this work CIH has been an active member of the Homes For Britain campaign which brings together organisations from across the housing industry to call on all parties to commit to ending the housing crisis in a generation.

2014 was a significant year for devolved government in the UK. CIH’s devolved structure has ensured that we have been influential and supported our members through a time of constitutional upheaval in Scotland and the development of new powers for Wales in particular.

The referendum in Scotland was a pivotal moment for the UK, and the team in Scotland supported members with information about potential impacts on the housing sector from all angles.

CIH Scotland was centrally involved in discussions about the proposed new devolved settlement, making a detailed submission to the Smith Commission on further powers for Scotland. In addition, CIH Scotland became a partner in the Scottish Government’s Joint Housing Delivery Plan, which aims to develop a partnership approach to address the strategic challenges facing the sector.

In Wales CIH influenced the development of the first Welsh Housing Bill, which aims to create a distinct approach to meeting national needs. The team continues to work closely with the Welsh Government to deliver the best outcomes for housing. CIH Northern Ireland became a member of the Social Development Minister’s Housing Supply Forum, which aims to find new ways to increase house building, with members of CIH NI’s housing investment think-tank contributing to its finance focus group. In addition, the team drew on members’ expertise to inform its submission and response to the Department for Social Development’s developer contributions consultation and proposals around local government reform.

Across the UK we have continued to engage with the on-going development and implementation of welfare reform recognising progress when it happens, but also holding politicians and officials to account for poor policy design and implementation and highlighting the consequences for households in need of support.

In 2014 we have continued to invest in improving and modernising our organisation and our workforce, following the restructuring of our executive team in 2013. We reviewed and refreshed the structure and purpose of teams across the organisation, bringing in new talent as well as reducing our cost base to help ensure that we remain fit for purpose and sustainable into the future.

As for many professional bodies the commercial operating environment for CIH continues to be extremely challenging.

Our end of year results reflect this. While the final results reflect the organisational investment set out above and the costs of a number of important and necessary accounting adjustments, they do also reflect a degree of under-performance in some areas of the business. We know we have significant room for improvement and we are working hard on a range of targeted measures to deliver that improvement. We expect to begin to see the fruits of this work in 2015.

Our vision for CIH is a dynamic, fit for purpose and financially durable professional body whose members value the services they receive and see them as an essential tool to help them succeed in their career.

Our very best wishes for 2015 Turlogh O’Brien

Terrie Alafat

Chair of Governing Board

Chief Executive

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different CIH courses delivered in-house at 15 organisations – driving improvement & enabling organisations to perform more effectively

2,961

ir students built the housing skills and leting a expertise by comp on housing qualificati

as CIH consultancy h worked with over t 150 different clien ss all organisations acro parts of the UK

s to deliver CIH worked with 66 approved centre rsities and housing qualifications. 22 UK unive on programmes centres now deliver higher educati leading to chartered membership

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73

CIH events and conferences generated

ÂŁ2,010,680 total revenue

279,796

unique users on our website - a hub of information for housing s professionals covering the latest new and industry insight, and a source of exclusive practical advice and career support for CIH members

34%

increase in income from 2013 to 2014 from our top 100 clients

450

members joined our election panel to give their views on major political issues

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webinars and 13 ‘what you need to know’ briefing s – bringing CIH members up-to-s peed on issues including equality and diversity, ASB and tenant sc rutiny

5,130

targeted recruitm ent and training opportunities crea ted in Welsh housing – evidence d in the final i2i project report ‘Fiv e years on’ using th e principles of the i2 i Can Do approach

Responded to

21 government consultations and gave evidence to two select committee s

16,196

followers on twitter – a yearon-year increase of 43%

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pleted the people com s to Landlord rd a w A 2 l e Lev land as CIH e Ir rn e th r o in N standards in h ig h s te o prom nted sector the private re

Our CIH consultan ts have delivered 41 sessions at 32 different regional and national events

1,505

housing professionals attended CIH Cymru events

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4,647

total broadcast, online and print media mentions including BBC Breakfast, Channel 4’s Dispatches and BBC’s Newsnight

Our Frontline Futu res report, jointly commission ed by CIH and the Wheatley Gro up, provided an important insi ght into the future role of the housing officer.

The findings have been used to develop a suite of new CIH training courses

£32k

20%

increase in delegate numbers at CIH Scotland Annual Housing Conference and Exhibition.

The Scotland events programme included 28 day and half-day events attended by more than 1000 delegates

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new policy and practice publications sharing CIH expertise on topics including allocations, shared ownership and creating sustainable tenancies

£72k

the average increase in spend from organisations managed by business development managers

10,851

video views on our YouTube channel – hot topics included ‘Has the state abandoned the poor?’ with Owen Jones at Housing 2014 and ‘The demonisation of social housing tenants’ with Kate Davies at the Sarah Webb Lecture

4600 delegates attended 85 regio nal events - the numb er of regional events was up 10% on 2013

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new candidates registered for a qualification in Scotland - an increase of 22% on 2013

rmer o f d n a t 4 currseinng ministers at ’ hou ing party

warm u to he ‘house t d e d CIH Cymr t n y e t b at d e is dd organ using ( Wales) Ac the Sene o the first H welcome

£500,000

turnover from CIH corporate partner and premier service contracts - a 125% increase in spend

CIH consultancy’s

sector leading Working Together… projects have involved 317 individuals from 72 organisations collaborating to develop new operating models

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young people com pleted the CIH Scottish Aw ard in Community Actio n in Housing under the partners hip between CIH Scotland and Wheatley Housing Group

t, online 695 media mentions across broadcas News, the and print – including BBC News, ITV r More than Daily Mail and the Guardian - for ou undation, a roof report with the Resolution Fo ve which looked at new ways to impro tor standards in the private rented sec

Developed and delivered the first CIH Level 4 in the Housing Profession in Dublin

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Our members We’ve made some changes to develop a new membership structure that works for members and CIH. This strategy is designed to ensure our fee-paying members get the best possible offer which helps them to do their job as a housing professional and to progress in their careers.

Over the last two years we’ve reviewed our approach to membership to make sure we are focusing on professionalism and building professional standards. We have spent the last 12 months reviewing and developing our membership offer and trying to make it fit for the future.

As part of this strategy, we have changed the way we deal with student members. Previously we offered students free membership for a certain period of time after they finished studying, now we ask them to take up membership. We did this in two batches in 2014, and as a result we have seen a fall in the overall number of members – but there hasn’t been a significant change in the underlying fee-paying membership. In the future, we will only do this once a year.

Changing the way we deal with students is part of our aim to develop a membership structure that works for members and for CIH. We have built our strategy around making sure that our feepaying members get the best possible offer. From member-only webinars and briefings to our new online career development tool, we have already increased and improved the number of services we offer exclusively for members, and there are more changes to come.

As well as improving our member offer we have also developed new routes to membership for experienced housing professionals and members of other professional bodies. Membership income has grown by 5.7% in the last two years, which shows that

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housing professionals continue to value their membership. We have also seen a rise in former members re-joining, and more organisations are taking membership for their staff which shows that employers are seeing the value.

The changes are bearing fruit but we probably won’t see them beginning to flow through to the numbers until next year.

We now have a solid base from which we are aiming to grow – and we are aiming to grow membership as more housing professionals see the benefits of being part of their professional body. But it’s about quality as well as quantity – we want to continue to attract people who value what we offer because it helps them day in, day out as they go about their jobs and also to progress in their career. Our strength is built on the experience and expertise of our members and we want to make sure every member has the best possible network to draw on.

CIH members by grade 2014

CIH UK members by organisation type (%)

2013

CIH members by gender (end 2014)

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Trustees’ report

YEAR ENDED 31 DECEMBER 2014

The Trustees of Chartered Institute of Housing (CIH, also referred to as the Institute) submit their annual report and the audited consolidated financial statements for the year ended 31 December 2014. The Trustees have adopted the provisions of the 2005 Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” in preparing the annual report and consolidated financial statements of the charity. In addition, in setting the objectives, planning the activities, and reporting on the performance of the charity the Trustees have given careful consideration to the Charity Commission guidance on public benefit.

Status

CIH was granted its Royal Charter on 25 June 1984. The objects of CIH are to promote the science and art of housing, its standards and ideals and the training and education of those engaged in the profession of housing practice. CIH is registered as a charity with the Charity Commission (registered no. 244067) and the Office of the Scottish Charity Regulator (registered no. SC040324).

Governance

The appointed CIH Governing Board comprises thirteen Trustees.

The board is responsible for the management of the business of the Institute. This includes setting the strategic direction of the Institute as a whole, determining priorities, ensuring performance and managing risk and accountability, viability and sustainability.

The Governing Board exercises all the powers of the Institute which are not otherwise required by the Charter and Byelaws to be exercised by the membership in general meeting. The Governing Board oversees the business of the national boards in Scotland, Wales and Northern Ireland, the nine regional boards in England and one in the Asian Pacific region and the delegated boards for Learn and Improve, Influence and Audit and Risk.

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The Trustees are required to meet a minimum of six times per year and in 2014 they held six meetings. Governance costs include expenditure relating to advice on and compliance with all regulatory and legal obligations, trustee and volunteer meetings and the staff costs of the chief executive, company secretariat and support staff. A schedule of current Trustees and those who have served terms of office during 2014 is included on page 17.

In 2014 the Governing Board once again undertook an annual review of its effectiveness, with independent external support.

The review will inform the shaping of a governance plan for 2015.

Alongside this, individual appraisals for Trustees were conducted and a skills matrix developed to inform the appointment of Trustees in 2015 (to replace those Trustees required to retire).

Leadership

During 2014 the Governing Board continued to be chaired by Turlogh O’Brien, with Yvonne Leishman as deputy chair. Steve Stride was Vice President until 14 May 2014 when he took up post as President. Geraldine Howley was elected as Vice President on the same date. During 2014, following the approval of the membership in General Meeting and the agreement of the Privy Council, the post of President became a Trustee position. Steve Stride thus became a Trustee, for the duration of his term as President, on 14 July 2014.

During the year there have been further changes in the executive leadership. One executive director ceased to be an employee of the Institute during 2014, namely Jeff James, Deputy Chief Executive/ Director of Operations who left on 24 July 2014.

Following an open recruitment process, Julie Soutter was appointed as Director of Operations and took up her post from 15 September 2014; Gavin Smart was appointed as Deputy Chief Executive in addition to his role as Director of Policy and Practice

and took up his post on 25 July 2014. Since the year end Grainia Long, CEO and Julie Soutter, Director of Operations have ceased to be employees. Gavin Smart was appointed Interim Chief Executive with effect from 16 February 2015. Terrie Alafat has been appointed as CEO and took up her post on 8 April 2015.

Business and corporate planning

Business and corporate planning is in pursuit of our charitable objectives and public interest requirement. We exist to promote the science and art of housing, its standards and ideals and the training and education of those engaged in the profession of housing practice. Our public benefit is maintained with the provision of education and training programmes and the provision of influence, information and knowledge to and for the industry through our membership and communication networks.

The corporate plan for 2012 to 2015 is driven by our charitable objectives and reinforces our purpose as the independent voice of housing and the home of professional standards. This three year plan was refreshed by the Governing Board in 2013 and continues to fulfil our purpose by being committed to our mission: XX With a growing and diverse membership, our offer to members is highly valued and never undersold XX CIH chartered membership is the currency for the housing profession XX We are a centre for excellence in learning – preparing our members for today and tomorrow XX A leading influencer of decision-makers with a reputation for knowledge, dynamic solutions and new ideas XX We act in the public interest, rather than the interest of any one part of the housing industry

In 2013 we identified five revised corporate objectives for 2014, to: XX Promote professional standards throughout all aspects of our work XX Deliver increased member value to ensure we are well on our way to growing members from 20,000 to 40,000 in a decade (2023) XX Drive sustainable profit growth through an integrated and high quality commercial offer XX Increase brand and professional profile through our election and referenda work across the UK XX Enhance organisational effectiveness by delivering processes, technology and cultural change to increase productivity and efficiency Our strategic, operational and resource plans are geared towards the delivery of the objectives above. The Trustees assessed performance throughout the year and have found that the objectives were substantially met.

In 2014 the Governing Board approved new strategic initiatives and significant projects, including: XX The development of a new specification for chartered membership to meet the emerging needs of the sector and recognise the changing environment in which housing is delivered XX The introduction of new pathways to chartered membership including the launch of the Professional Diploma (Level 5) and the Experienced Professional Route which allows more consistent recognition of prior learning across the sector XX A review of the qualifications delivered by the CIH Learning Centre to improve the learning outcomes for students and their employers

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Trustees’ report

YEAR ENDED 31 DECEMBER 2014

XX The development of a new online career development tool for members which was launched in early 2015 XX Extensive consultation on a membership grade change and the new code of ethics both of which will be delivered in early 2015 XX The implementation of the commercial strategy approved in 2013 and the development of a range of corporate partnerships XX The development of a new model to deliver strategic advice to organisations through our consultancy and advisory services utilising our working together networks and practice toolkits XX Extending our ability to inform the views of political parties and to move housing up the political agenda for the election in 2015 XX Reviewing the capacity and the capability within the organisation following the executive team restructure in 2013

Financial summary

In addition to CIH’s own activities these consolidated accounts include the following group companies: ConsultCIH Limited, a wholly owned subsidiary offering housing and management consultancy services and HouseMark Limited, a joint venture with the National Housing Federation, offering benchmarking and sector improvement services and business intelligence.

The trading environment continued to be challenging during 2014 with the business continuing to focus on a reduction in its cost base for future years. By the year end incoming resources were broadly in line with those earned in 2013 and ConsultCIH had delivered a modest profit and overall we were able to maintain our investment in charitable activities above £10m. In 2015 we aim to realise the benefits of the restructure carried out in 2014 with a reduction in the cost base to ensure we can continue to invest in charitable activities.

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The year saw some ‘other’ activities in addition to our normal business; we invested £62,500 in our joint venture, HouseMark, to support two key strategic initiatives; following on from the executive team restructure in 2013, a restructure exercise was carried out throughout the organisation to reduce the cost base for the future, at a cost of £264,000; and we continued to depreciate our investment in our web/CRM platforms by £338,000 in 2014. We carried out a professional revaluation of our long leasehold properties at the end of the year, which has resulted in a reduction in our property values of £477,000 reflecting the general reduction in the value of commercial properties over the past few years. The actuarial valuation of our main pension fund, the London Pensions Fund Authority Pension Fund, at 31 March 2013 has identified a past service adjustment due over three years of £730,000 from 1 April 2014. This is an increase from the amount paid for the three years to 31 March 2013 of £359,775.

The Trustees continued to actively review our consultancy offer and consider that it continues to represent service value to the charity and the housing industry as a whole and are pleased to report that in 2014 ConsultCIH Limited successfully delivered a modest net profit, owing to a sustained increase in gross income and careful management of costs, of £27,767.

Similarly, our associate company HouseMark Limited, a joint venture with the National Housing Federation, returned a full licence fee of £268,386 and the Governing Board agreed a further investment of £62,500 for 2015/16 to support HouseMark’s plans to transform into a business intelligence organisation.

Reserves and designated funds

CIH’s assets are predominantly unrestricted and Trustees actively manage the proportion that is freely available as reserves. The target level of reserves established by the Trustees is that which covers nine months’ worth of the charity’s annual charitable expenditure. At 31 December 2014 the level of free reserves represents 100% of the CIH’s asset base with 60% (£3.9m) freely and instantly available. Trustees consider this to be within their target level and to be sufficient for the continuing operation of the charity.

In considering the existing and future requirements of the charity the Trustees have earmarked funds within the general fund to recognise the level of security and investment required in the development and sustainability of the business.

The movements on these funds are detailed in the notes to the financial statements which are available upon request from CIH.

Investment strategy and performance

The Trustees’ investment powers are set out within CIH’s charter and byelaws. Accordingly Trustees engage and instruct Charles Stanley and Company to manage the investment portfolio.

Charles Stanley and Company acts within CIH’s investment policy and, in addition uses an independent screening and monitoring agency which ensures that the requirements of the CIH Socially and Environmentally Responsible Investment Policy are upheld.

Our investment policy is to maintain the real value of assets and protect the capital base while providing a rising level of investment income.

The portfolio achieved a Total Return (TR) of 3.2%, comprised of a capital return of (1.28%) and an income return of 4.47%. This compares to the FTSE 100 (TR) return of 0.7.% and the WMA Income (TR) of 7.7 %. The portfolio outperformed the FTSE 100 Index, an all Equity Index, but underperformed the more fixed income orientated WMA Income Index. In the review, the more defensive fixed income weighted asset classes outperformed the more growth orientated asset classes such as equities. Our portfolio spans a wider range of asset classes than equity and bonds and seeks to generate return from a variety of sources.

Since the year end performance over the first quarter of 2015 will reveal a sharp improvement in the equity component consistent with the strong run in markets particularly in the last month.

Risk management

Policies and procedures are designed to identify, assess and mitigate risk. The Audit and Risk Board examines and actively reviews the major strategic, business and operational risks that CIH faces and reports back to the Governing Board of Trustees, via the Chair of the Audit and Risk Board who is a member of the Governing Board and a trustee. The Audit and Risk Board met three times in 2014. An assurance framework was developed in 2013 and Baker Tilley (previously RSM Tenon) was appointed on 3 June 2013 to develop and deliver a three-year audit strategy and annual internal audit plan. In 2014 internal audits were completed on event and conference management and IT systems operation framework and controls – network security. Implementation of improvements and recommendations is being undertaken with a new programme of work for 2015 agreed by the Audit and Risk Board in April 2015.

During the year the Trustees reviewed existing and future budget strategy and agreed a budget for 2015 designed to increase CIH’s resilience to economic and market factors and to further reduce

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Trustees’ report

YEAR ENDED 31 DECEMBER 2014

its cost base. In addition the Trustees gained assurance on the risk profile and performance of the investment portfolio throughout the year.

The Trustees recognise the risk of operating in changeable markets, particularly in the area of housing consultancy and continue to actively support this offer for the benefit of the sector through ConsultCIH Limited.

legislation appropriate to such publication wherever it is made.

Trustees determine the strategic course of the Institute and monitor progress against corporate plans and review its constitutional, statutory and financial responsibilities. There is a programme of induction, mentoring and training for Trustees.

The Trustees’ report was approved by the Trustees on 13 April 2015 and signed on their behalf by:

Related party transactions

The related party transactions are disclosed in the notes to the financial statements.

Turlogh O’Brien

Trustees’ responsibilities

The trustees of CIH are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time CIH’s financial position and enable them to ensure that consolidated financial statements showing a true and fair view are prepared from those records. They are responsible for formulating suitable accounting policies and for applying them consistently and making judgements and estimates which are reasonable and prudent.

The consolidated financial statements should be prepared on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The Trustees are also responsible for safeguarding CIH’s assets and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees are responsible for the accuracy and integrity of financial and corporate information which is published, for example, on the charity’s website and due recognition is made of

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Chair of Governing Board 13 April 2015

Trustees and administrative information YEAR ENDED 31 DECEMBER 2014

The following served as trustees of CIH during 2014 Chief Executive, Stafford and Rural Homes XX Karen Armitage Deputy Mayor for Housing, Land and Property Greater London Authority XX Richard Blakeway Group Chief Executive, Places for People Group XX David Cowans Consultant, EEA Ltd XX Elaine Elkington Board Member, TPAS XX Alison Inman Managing Director, The Community Housing Group XX Yvonne Leishman Chairman, London & Quadrant Housing Trust XX Turlogh O’Brien Worldwide PMO Director, Micro Focus Ltd XX Hiten Patel Chief Executive, Parkhead Housing Association XX Jim Strang Europe Leader - Accommodation Sector (Director), Laing O’Rourke XX Steve Trusler The following Trustee was appointed to the Governing Board on 14 July 2014 President, Chartered Institute of Housing XX Steve Stride The following Trustees were appointed to the Governing Board on 11 August 2014 Head of Housing, Savills (Housing Division) XX Robert Grundy Deputy Chief Executive, Aspire Group XX Will Nixon The following Trustees were re-appointed to the Governing Board on 14 May 2014 Chief Executive, Stafford and Rural Homes XX Karen Armitage Europe Leader - Accommodation Sector (Director) Laing O’Rourke XX Steve Trusler The following Trustees retired from the Governing Board on 14 May 2014 Chief Executive, Notting Hill Housing Group XX Kate Davies Chief Executive, Merthyr Valleys Homes XX Mike Owen

Adviser and bankers

Investment Managers: Charles Stanley and Company Limited, 25 Luke Street, London EC2R 4AR Solicitors: Trowers and Hamlins LLP, 3 Bunhill Row, London EC1Y 8YZ Auditor: Crowe Clark Whitehill LLP, Carrick House, Lypiatt Road, Cheltenham, Glos, GL50 2QJ Bankers: Barclays Bank plc, Midland Corporate Banking Centre, 15 Colmore Row, Birmingham, B3 2WN REGISTERED OFFICE: Chartered Institute of Housing Octavia House Westwood Way Coventry CV4 8JP

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Independent auditors’ statement to the trustees YEAR ENDED 31 DECEMBER 2014

We have examined the summary consolidated financial statement of the Chartered Institute of Housing set out on pages 19 and 20 of this report.

Our audit work has been undertaken so that we might state to the 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 charity and the Trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Respective responsibilities of the Trustees and auditors The Trustees are responsible for the preparation of the annual report and the summary consolidated financial statement. Our responsibility is to report to you our opinion on the consistency of the summary consolidated financial statement within the Annual Report with the full annual accounts and the Trustees’ Report. We also read the other information contained in the Annual Report and consider the implications for our report if we become aware of any apparent misstatements or material inconsistencies with the summary consolidated financial statement.

Basis of opinion We conducted our work in accordance with Bulletin 2008/3 “The Auditors’ Statement on the Summary Financial Statement” issued by the Auditing Practices Board for use in the United Kingdom. Our report on the Institute’s full annual consolidated financial statements describes the basis of our audit opinion on those consolidated financial statements.

Opinion In our opinion the summary consolidated financial statement is consistent with the full annual consolidated financial statements and the Trustees’ Report of the Chartered Institute of Housing for the year ended 31 December 2014.

Crowe Clark Whitehill LLP Statutory Auditor Carrick House, Lypiatt Road Cheltenham, Gloucestershire, GL50 2QJ 16 April 2015 Crowe Clark Whitehill LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.

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Statement of accounts CONSOLIDATED

CHARTERED INSTITUTE OF HOUSING CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES STATEMENT FINANCIAL YEAR ENDED OF 31 DECEMBER 2014 ACTIVITIES YEAR

Unrestricted Funds £000

Incoming resources from charitable activities Subscriptions and fees Publications Education Professional practice Training and conferences

Activities to generate funds Voluntary income Trading income

Cost of activities to generate funds Trading expenses

1.634

1 163 94 365

10,011 814

1,633

Net (outgoing) resources

Net interest in associate’s results

Other recognised gains and losses: Realised (losses)/gains on investments Unrealised (losses)/gains on investments Revaluation of property

Net movement in funds Balance brought forward

Balance carried forward at 31 December 2014

- - -

156 -

-

13 1.634

1 163 94 365

9,412

10,167 814

1,582

1,633

11,259

10,719

-

8

(21) (26) (477)

1,538 12,257

(1,384)

10,102 617

12,614

1 173 86 5 265

10,981

1,582

11,230

2,115 668 1,844 655 4,130

623

- -

1,647

156 (2)

156

Total Funds 2013 £000

8,960

154

8

(998) 9

172 417 -

(516)

-

(516)

589

(1,898)

(2)

(1,900)

(400)

8,452

44

8,496

(21) (26) (477)

13 -

2,131 615 1,283 771 4,160

-

13

(1,382)

12,458

10,825

Total Funds 2014 £000

141

11,076

- - 141 -

623

Total resources expended

1,634

Total incoming resources

Resources expended Charitable activities Governance costs

Restricted Funds £000

8,819

2,131 615 1,283 630 4,160

Other incoming resources Interest receivable Investment income Property income Other income

ENDED 31 DECEMBER 2014

6,554

7

42

6,596

8,896

8,496

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Statement of Accounts

BALANCE

CHARTERED INSTITUTE OF HOUSING BALANCE SHEETS SHEETS YEAR ENDED 31 DECEMBER 31 DECEMBER 2014

2014

Fixed assets Intangible assets Tangible assets Investments

Group 2014 £000

Group 2013 £000

Charity 2014 £000

Charity 2013 £000

- 3,737 3,953

- 4,665 4,500

- 3,704 4,861

4,617 5,416

7,690

9,165

8,565

Current assets Work in progress Debtors Cash at bank

222 2,379 502

Current liabilities Creditors falling due within one year

(4,085)

Funds Unrestricted funds Restricted funds

(112)

6,596

Approved byon the13 Governing Board on 13 April 2015.

Approved by the Governing Board April 2015

O’Brien

Turlogh Chair of Governing BoardTurlogh O’Brien

Chair of Governing Board

8

(3,998)

-

8,496

8,496

(3,688)

(112)

7,342

2,896

7,342

(3,661) (765)

7,300 42

6 2,330 560

(1,111)

8,452 44

5 2,147 425

10,033

2,577

(669)

6,596

20

6,554 42

165 2,536 628

3,329

(982)

Net assets

3,103

Net current liabilitiess Provisions & long term liabilities

-

9,268

9,224 44 9,268

About CIH The Chartered Institute of Housing (CIH) is the independent voice for housing and the home of professional standards. Our goal is simple ‑ to provide housing professionals with the advice, support and knowledge they need to be brilliant.

CIH is a registered charity and not-for-profit organisation. This means that the money we make is put back into the organisation and funds the activities we carry out to support the housing industry. We have a diverse membership of people who work in both the public and private sectors, in 20 countries on five continents across the world. Further information is available at: www.cih.org Twitter: @CIHhousing

Chartered Institute of Housing Octavia House Westwood Way Coventry CV4 8JP Tel: 024 7685 1700 www.cih.org

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