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|Company
Information|||
|Trustees Report|||
|Report ofthe Auditors||6-7|
|Income and Expenditure|Account|8-9|
|Balance Sheet||10|
|Notes to the Financial Statements|||
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|---|---|---|---|---|
|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||||
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|||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|
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|||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|
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||||||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|
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|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||
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|||||||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|
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|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|
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|||2021|2020|
|---|---|---|---|
|||Total|Total|
||||F|
|Pension net return|on assets|||
|Bank Charges||1,040|860|
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|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|
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|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|
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||||||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|
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||||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%||
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|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|
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