2020-12-31-accounts

		Page
Report ofthe	Trustees and Directors	1—7
Report ofthe	Independent Auditors	8-10
Statement of	Financial Activities	11-12
Notes to the	Statement ofFinancialActivities	13-14
Company Balance Sheet
Consolidated	Balance Sheet	16
Notes to the	Financial Statements	17-21

Chaffty Number:	Chaffty Number:	Chaffty Number:	1003108
Company		Number:	02988109(Registered in England		&Wales)
Pdinclpal	Office and
Registered		Office:	New Media Bouse, Davidsan	Road,
			Lithfield WS14 9DZ
Auditors:			Seagrave French Ll.P
			1 Poplars Court
			Lenton Lane
			Nottingham NG7 2RR
Bankers:			The Co-operative Bank Pic
			118-120Colinore Row
			Birmingham 833BN
Advlseri			Broakes Stephens Chartered	Accountants
			New Media Bouse, Davidson	Road,
			Llchffield
			Staffordshire WS14 9DZ
Directors		and Trustees
The directors ofthe charitable company (the charity) are its					trustees for the purpose of charity	law. Throughout	this
report any reference to			trustees applies equally ta directors		and vice versa.

		and a	Stateme	nt ofTotal Recog	nt ofTotal Recog	nised Gains and	Losses)
				Unrestricted		Designated	Restricted	Total	Total
					Furl dc	Funds	Funds	2020	2019
			Notes		E	E	E	E	E
Incoming Resources:
Incoming Resources from
Generated Funds
Donations from Subsidiary					29,576			29,576	27,504
Interest on Deposits and	Investments				104,282			104,282	71,822
Incoming ReSOurtea fram
Charitable Activities
Social Housing Rents					599,029			599,029	587,925
Grants and other interne					68,291			68,291	28,562
Total incoming Resources
Resources Expended:
Charitable Activities
Provision of Services				1	371,179	32,741	143,391	547,311	585,811
Governance Costs				2	47,647			47,647	49,203
Total Resources Expended
Net Incoming/Outgoing	Resources
before Gain on Investments					382,352	(32,741)	(143,391)	206,220	80,799
Net income ex enditure		f r he	ear		382,352	(32,741)	(143,391)	206,220	80,799
Unrea (ised (Loss)/Gain on		Investments		4	(19,960)			(19,960)	334,289
Net Incoming/Outgoing	Resources
before Transfers					362,392	(32,741)	(143,391)	186,260	415,08S
Transfers between Funds				3	(362,040)	362,04D
Net Movement in Funds					352	329,299	(143,391)	186,260	415,08S
Balances brought forward
at 1January 202D					1,226,522	3,008,6D5	299,73D	4,534,857	4,119,769
Balances carried forward
at 31December 2D20

			Unrestricted	Unrestricted	Designated	Restricted	Total	Total
				Funds	Funds	Funds	2020	2019
		Notes		E	f	f	f	f
Incoming Resources:
Incoming Resources from
Generated Funds
Interest on Deposits				104,282			104,282	71,822
Incoming Resources from
Char'Itable Activities
Social Housing Rents				599,029			599,029	587,925
Ground Rents				19,74D			19,740	17,301
Sale ofHeadleases				14,73D			14,730	15,425
Grants and other Income				68,291			68,291	28,562
Sundry Income in subsidiary				1,141			1,141	825
Total Incoming Resources
Resources Expended:
Charitable Activities
Provision of Services			1	371,179	32,741	143,391	547,311	585,811
Governance Costs			2	47,647			47,647	49,203
Subsidiary Expenditure				6,035			6,035	6,047
Total Resources Expended
Net Incoming/Outgoing Resources
before Gain on Investments				382,352	(32,741)	(143,391)	206,220	80,799
Net incom x nditure	forthe	ear		382,352	(32,741)	(143,391)	206,220	80,799
Unrealised (Loss)/Gain on	Investments		4	(19,960)			(19,960)	334.289
Net incoming/Outgoing Resources
before Transfers				362,392	(32,741)	(143,391)	186,260	415,DBB
Transfers between Funds			3	(362,04D)	362,040
Net Movamerit iri Funda				352	329,299	(143,391)	186,260	415,088
Balances brought forward
at 1January 202D				1,226,522	3,008,605	299,730	4,534,857	4,119,769
Balances carried forward
at 31December 2020

		Unrestricted	Designated	Restricted	Total	Total
		Funds E	Fundsf	Funds f	2D20 f	2019 f
L	PROVISION OF SERVICES
	Management and Maintenance	135,661			135,661	168,449
	Major Repairs		32,741		32,741	43,094
	Disability Adaptations					5,131
	Insurance	11,649			11,649	11,704
	Ground Rent	713			713
	Depreciation ofHousing Properties	97,171		143,391	240,562	239,215
	Donations	1,750			1,750	1,177
	Investment Fund Fees	28,549			28.549	27,420
	Support to Youth Activities					12,733
	Resource Centre	8,044			8,044	7,521
	Events	(130)			I130)	52,44D
	Grant expenditure	67,376			67,376
	Downsizing incentive	3,300			3,3DD
	Consultancy	17,D96			17,096	16,927
2.	GOVERNANCE COSTS
	Professional Fees	694			694	4,318
	Financial Services	18,631			18,631	15,959
	Administration Services	22,822			22,822	23,176
	Auditors' Remuneration	4,764			4,764	5,014
	Insure nce	616			616	616
	Bank Charges	12D			120	120

				Opening			Closing
				Balance	Transactions	Transfers	Balance
				f	f	f	f
	Unrestricted Funds
	Income and Expenditure		Account	1226 522	362392	~362 D40	1226 874
	Designated Funds
	Major Repairs			2,275,9D6	(32,741)	342,DDO	2,585,165
	Unreaiised Gains			479,031		(19,960)	459,071
	Cyclical Maintenance			145,DDO		3D,DDO	175,000
	Disability Adaptations			1D,ODD		10,DOO	20,000
	Comrnumty Facility			98,668			98,668
				3,008,605	(32,741)	362,040	3,337,904
	Restricted Funds
	Capital Fund			286,691	(143,391)		143,300
	Capital Grants			13,039			13,039
4,	UNREALISED INVESTMENT MOVEMENT
						2020	2D19
						f	f
	Unrealised mvestmant	loss/(gain)

			2020		2019
		Notes
FIXEDASSETS:
Tangible assets				537,802		772,978
CURRENT ASSETS:
Debtors			265,293		190,171
Investments		5	3,880.153		3,553,559
Cash at bank and in hand			155,037		76,471
			4,300,483		3,820,201
CREDITORS: Amounts	falling
due within one year			117,168		58,322
NET CURRENT ASSETS.'				4,183,315		3,761,879
TOTAL ASSETS LESSCURRENT
LIABILITIES:
RESERVES:
Restricted Funds				156,339		299,730
Designated Funds Accumulated Funds				3,337.904 1,226,874		3,00S,605 1226 522
				~72

			asat 31	December 2020
				2020		2019
			Notes
FIXEDASSETS:
Tangible assets					537,802		772,978
CLIRRENT ASSETS:
Debtors				214,733		179,434
Investments				3,880,153		3,553,559
Cash at bank and	in hand			207,150		88,693
				4,302,036		3,821,686
CREDITORS: Amounts		falling
due within one year				118,721		59,807
NET CURRENT ASSETS:					4,183,315		3,761,879
TOTAL ASSETS LESSCURRENT
LIABILITIES:
RESERVES:
Restricted Funds					156,339		299,730
Designated Funds Accumulated Funds					3,337,904 1,226,&74		3008 605 1.226,522
					472

3.	TANGIBLE FIXEDASSE	TS
							Land fk
							~ildi
	COST:
	At 1January 2020						5,981.106
	Additions						5.386
	At 31December 2020						5,986,492
	DEPRECIATIOIs:
	At 1January 2020						5,208,128
	Charge for year						240,562
	At 31December 2020						5,448,690
	NET BOOKVALVE:
	At 31December 2020						537,802
	At 31December 2019						772,978
4.	DEBTORSr AMOUNTS	FALLING
	DUE WITHIN ONE YEAR
					2020		2019
						E	E
	Rents due from Bromford		Housing Group		144,460		140,809
	Rent in arrears				17,605		15,026
	Other debtors				17,648
	Ground rents				12,495		9,480
	P repayments and accrued		income		~22	2	14119
5	CURRENTASSET INVESTMENTS
					2020		2019
						E	E
	72 Ordinary Shares in	Lloyds Bank pic				49	49
	Managed Investment	Fund			3,234,071		3,179,031
	Birmingham City Counril		Consolidated	Loan Fund	646	033	374479

						202D	2D19
							6
	Accrued	Expenses				118,721	59,807
7.	OPERATING		LEASE COMMITMENTS
	The following		operating	lease payments	are committed	to be paid within one year;
						2020	2019
						E	E
	Expiring:
	Within one year					4,740	4,740
8.	RESTRICTED		FUNDS
						202D	2D19
						E	f
	Capital	Fund				143,30D	286.691
	Capital	Grants				13,00D	13,000
	Community		Watch			39	39

DESIGNATED FUNDS
	2020	2019
		E
Major Repairs Sinking Fund	2,585,165	2,275,906
Unrealised Gains Smkmg Fund	459,071	479,031
Cyclical Maintenance Sinking Fund	175,000	145,000
Disability Adaptation Sinking Fund	20,DDD	10,00D
Community Facility Fund	98668	~98668

			Tangible	Net
			Fixed	Current
			Assets	Assets	Total
			E	6	f
Restricted	Funds		143,300	13,039	156.339
Unrestricted		Funds	394,502	832,372	1,226,874
Designated		Funds		3,337,904	3,337,904