| Page | ||
|---|---|---|
| Company Information |
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| Trustees Report | ||
| Report ofthe Auditors | 6-7 | |
| Income and Expenditure | Account | 8-9 |
| Balance Sheet | 10 | |
| Notes to the Financial Statements |
| TRUSTEES AND DIRECTORS: | R.W. Batty (Chairman) | |||
| Rev. L.S.Deas (Vice Chairman) | (Resigned 4 June 2021) | |||
| I. Agius | ||||
| Hon Ald. R.Jones | ||||
| Cllr D. Kirk | ||||
| Cllr G Kennett | ||||
| COMPANY SECRETARY: | J.A. Black | |||
| REGISTERED OFFICE: | 20 Bourne Street | |||
| Freetown Way |
||||
| Hull | ||||
| HU2 8AE | ||||
| COMPANY REGISTERED NUMBER: | 2630447 (England | and | Wales) | |
| CHARITY REGISTERED NUMBER: | 1007875 | |||
| REGISTERED SOCIAL LANDLORD NUMBER: | H4310 | |||
| AUDITORS: | Fawley Judge & Easton | |||
| Chartered Certified |
Accountants | |||
| Statutory Auditors |
||||
| 1 Parliament Street |
||||
| Hull | ||||
| HU1 2AS | ||||
| BANKERS: | National Westminster |
Bank | ||
| PO Box No. 944 | ||||
| 34 King Edward Street | ||||
| Hull | ||||
| HU1 3YN |
| Notes | Total | Total | ||
|---|---|---|---|---|
| 2021 | 2020 | |||
| F | F | |||
| Turnover | 1,317,978 | 1,289,117 | ||
| Operating expenditure |
(1,200,866) | (1,015,917) | ||
| Operating surplus |
117,112 | 273,200 | ||
| Interest receivable | 21,612 | 25,196 | ||
| Interest payable | (1,040) | (860) | ||
| Investment Gains/(Losses) |
192,660 | (41,656) | ||
| Surplus on ordinary | activities for the period | F330,344 | F255,880 | |
| Pension (loss)/gain |
in | period | 154,000 | 129,000 |
| Total comprehensive | income for the year | F484,344 | F384,880 |
| income and | Restricted | Total | ||
|---|---|---|---|---|
| Expenditure | Reserve | |||
| reserve | ||||
| Balance as at 1stApril 2019 | 3,135,290 | 3,135,290 | ||
| Transfer between funds |
||||
| Total comprehensive | income for the year | 384,880 | 384,880 | |
| Balance as at 31st | INarch 2020 | 3,520,170 | 3,520,170 | |
| Total comprehensive | income for the year | 484,344 | 484,293 | |
| Balance at 31st March 2021 | R4,004,514 | R4,004,463 |
| 2021 | 2020 | |||||
|---|---|---|---|---|---|---|
| Note | ||||||
| Fixed assets | ||||||
| Tangible fixed assets | 1,067,214 | 1,080,322 | ||||
| Investments | 2,977,536 | 2,719,412 | ||||
| 4,044,750 | 3,799,734 | |||||
| Current assets | ||||||
| Stock | 250 | 250 | ||||
| Debtors | 29,295 | 19,745 | ||||
| Cash at bank and in | hand | 540,800 | 455,871 | |||
| Total current assets | 570,345 | 475,866 | ||||
| Creditors: amounts | falling | due | ||||
| within one year | 10 | (122,581) | (113,430) | |||
| Net current assets/liabilities | E447,764 | 362,436 | ||||
| Total assets less current liabilities | 4,492,514 | 4,162,170 | ||||
| Creditors: amounts | falling | due after | ||||
| more than one year | (635,000) | (635,000) | ||||
| PROVISION FOR LIABILITIES | ||||||
| Pension deficit |
147,000 | (7,000) | ||||
| NET ASSETS INCLUDING | PENSION DEFICIT | 4,004,514 | 3,520,170 | |||
| FUNDS OF THE CHARITY: | ||||||
| Share capital | 14 | |||||
| Income and expenditure | account | 13 | 4,004,514 | 3,520,170 | ||
| Restricted funds | 11 | |||||
| TOTAL CHARITY FUNDS | F4,004,514 | f3,520,170 |
| Fixed assets costing less than f250 ar | Fixed assets costing less than f250 ar | Fixed assets costing less than f250 ar | e written off in th |
e year of pur | e year of pur | chase. | |
|---|---|---|---|---|---|---|---|
| The cost offixed assets is depreciated | by equal annual | instalments | over their expected | economic lives as follows:- | |||
| Freehold property |
Impairment | review | |||||
| Leasehold property |
alterations | 15years | |||||
| Office equipment, | Hostel Furniture, | Kitchen and Washing | Equipment | 5years | |||
| IT Equipment, Television, Fridge/Freezers |
2 years | ||||||
| Motor Vehicles | 5years |
| Cost of | Operating | Operating | ||||||
|---|---|---|---|---|---|---|---|---|
| Turnover | Sales | expenditure | Surplus | |||||
| Social housing lettings |
(note 3) | 1,317,978 | 1,175,389 | 25,477 | 117,111 | |||
| F1,317,978 | P1,175,389 | 625,477 | F117,111 | |||||
| 2021 | 2020 | |||||||
| Operating | surplus | F | ||||||
| Is stated | after | charging:— | ||||||
| Auditors | remuneration | (including | VAT) | 3,870 | 3,870 | |||
| Depreciation | oftangible | fixed assets | 24,485 | 24,485 |
| INCOME AND | EX | PE | NDITUR | E | FRO | M S | OCIAL HOLDING LETT | INGS | INGS | |
|---|---|---|---|---|---|---|---|---|---|---|
| Supported | Housing | |||||||||
| 2021 | 2020 | |||||||||
| E | ||||||||||
| Rent receivable | net of identifiable | service | charges | 776,671 | 736,179 | |||||
| Service income | 77,164 | 76,648 | ||||||||
| Revenue grants | 464,143 | 476,290 | ||||||||
| Turnover from social housing |
lettings | E1,317,978 | f1,289,117 | |||||||
| Management | 25,477 | 25,537 | ||||||||
| Routine maintenance | 46,135 | 57,827 | ||||||||
| Other costs | 1,129,254 | 932,553 | ||||||||
| Operating expenditure |
on social | housing | lettings | f1,200,866 | f1,015,917 | |||||
| Operating surplus |
on | social housing | lettings | F117,112 | f273,200 | |||||
| Void losses | 25,185 | 7,816 | ||||||||
| Social housing | accommodation | —bed spaces | 73 | 73 |
| 2021 | 2020 | ||
|---|---|---|---|
| Total | Total | ||
| F | |||
| Pension net return | on assets | ||
| Bank Charges | 1,040 | 860 |
| average number ofpersons employed by the Compan |
y during the year was as follows: |
|
|---|---|---|
| 2021 | 2020 | |
| No | No | |
| Floating support workers | 2 | 2 |
| Management | 2 | 2 |
| Administration | 1 | 1 |
| Hostel support workers | 21 | 18 |
| 26 | 23 |
| Staff | costs | (for the above persons) | ||
|---|---|---|---|---|
| Wages | &salaries | 616,733 | 583,067 | |
| Social | security | 55,311 | 45,841 | |
| Other | pension costs | 69,938 | 66,790 | |
| F741,982 | F695,698 |
| TANGIBLE FIXEDASS | ETS —HOUSING | PROPERTIES | ||||
|---|---|---|---|---|---|---|
| Freehold | Leasehold | Plant, vehicles, | Furniture | & | ||
| Property | Alterations | Equipment etc |
Fittings | Total | ||
| F | f. | |||||
| Cost: | ||||||
| At 1st April 2020 | 868,699 | 402,690 | 84,584 | 68,646 | 1,424,619 | |
| Additions | 9,777 | 9,777 | ||||
| Disposals | ||||||
| At 31stMarch 2021 | 868,699 | 402,690 | 94,361 | 68,646 | 1,434,397 | |
| Depreciation: | ||||||
| At 1st April 2020 | 204,599 | 73,188 | 65,810 | 343,597 | ||
| Charge for the year | 17,513 | 3,272 | 2,800 | 23,585 | ||
| On Disposals | ||||||
| At 31st March 2021 | 222,112 | 76,460 | 68,610 | 367,182 | ||
| Net book amounts: | ||||||
| At 31stMarch 2021 | 868,699 | 180,578 | 17,901 | 36 | 1,067,214 | |
| At 1st April 2020 | 868,699 | 198,091 | 10,696 | 2,836 | 1,080,322 |
| 2021 | 2020 | |||||
|---|---|---|---|---|---|---|
| F | ||||||
| Term deposits | with | finance | houses | 554,909 | 545,197 | |
| Seven Investment | Management | 554,252 | 448,694 | |||
| Charity Bank Community |
381,205 | |||||
| Charity Bank Ethical Bond |
138,388 | |||||
| Brooks MacDonald | 541,613 | 486,288 | ||||
| Investec | 201,440 | 200,843 | ||||
| Aegon | 960,258 | 508,797 | ||||
| Investec Kick-Out | Plan | 96 | 100,000 | |||
| HEY Credit Union | 65,064 | |||||
| E2,977,536 | E2,719,412 | |||||
| DEBTORS | ||||||
| 2021 | 2020 | |||||
| F | ||||||
| Trade debtors | 11,849 | 3,764 | ||||
| Rent receivable | excluding | service charges | ||||
| Service charge | receivable | |||||
| Prepayments and |
accrued | income | 17,446 | 15,981 | ||
| F29,295 | E19,745 | |||||
| CREDITORS: | amounts | falling due within one year | ||||
| 2021 | 2020 | |||||
| Trade creditors | 46 | 7,658 | ||||
| Tax and social | security | 11,516 | 12,725 | |||
| Other creditors | 72,923 | 60,331 | ||||
| Accruals and deferred | income | 38,096 | 32,716 | |||
| f122,581 | F113,430 |
| 2021 | 2020 | |||
|---|---|---|---|---|
| Amounts recognised |
in surplus or deficit | |||
| Current service cost | 35,000 | 35,000 | ||
| Loss on settlements | ||||
| Amounts charged to |
operating costs | f35,000 | 635,000 | |
| 2021 | 2020 | |||
| Net interest | 2,000 | 4,000 | ||
| Amounts charged to |
other | finance costs | E2,000 | K4,000 |
| Reconciliation ofopening |
and closing balances ofthe present value of plan assets | |||
| 2021 | 2020 | |||
| Opening scheme liabilities |
(1,406,000) | (1,636,000) | ||
| Current service costs | (35,000) | (35,000) | ||
| Interest cost | (32,000) | (38,000) | ||
| Contributions by members |
(8,000) | (7,000) | ||
| Benefits paid | 64,000 | 151,000 | ||
| Remeasure ments | (212,000) | 159,000 | ||
| Closing scheme liabilities |
F(1,629,000) | F(1,406,000) | ||
| Reconciliation ofopening |
and closing balances ofthe fair value of plan assets |
| Reconci | liatio | n ofopening and closing balanc |
es ofthe fair value | of plan assets | |
|---|---|---|---|---|---|
| 2021 | 2020 | ||||
| Opening | fair | value of plan assets | 1,399,000 | 1,498,000 | |
| Interest | income | 34,000 | 35,000 | ||
| Participants | contributions | 9,000 | 7,000 | ||
| Return on plan assets (in excess of interest income) | 222,000 | (18,000) | |||
| Contributions | by employer | 180,000 | 28,000 | ||
| Benefits | paid | (64,000) | (151,000) | ||
| Closing | fair value of plan assets | F1,776,000 | E1,399,000 | ||
| 2021 | 2020 | ||||
| Actual | return on scheme assets | 147,000 | 138,000 | ||
| Major categories of plan assets as a percentage | oftotal plan assets | ||||
| 2021 | 2020 | ||||
| Equities | 67 | 66% | |||
| Bonds | 18% | 16% | |||
| Property | 12% | 13% | |||
| Cash | 3% |
| l actuarial assumptions |
||
|---|---|---|
| 2021 | 2020 | |
| Financial assumptions | ||
| Discount rate | 1 9% | 1 9% |
| Future salary increase | .5% | |
| Pension Increase rate | .5% | .5% |
| 2021 | 2020 | |
| Financial assumptions | ||
| Retiring today: | ||
| Males | 20.9 | 20.9 |
| Females | 23.3 | 23.3 |
| Retiring in 20 years: Males |
21.8 | 21.8 |
| Females | 24.8 | 24.8 |