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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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||||Notes|Total|Total|
|---|---|---|---|---|---|
|||||2022|2021|
|Turnover||||1,276,731|1,317,978|
|Operating
expenditure||||(1,099,130)|(1,200,866)|
|Operating
surplus||||177,601|117,112|
|interest receivable||||21,544|21,612|
|Interest payable||||(1,034)|(1,040)|
|Investment
Gainsl(Losses)||||42,355|192,660|
|Surplus on ordinary||activities|forthe period|240,466|8330,344|
|Pension (loss)/gain|in period|||168,000|154,000|
|Total comprehensive||income for|the year|8408,466|f484,344|
|All amounts
relate to continuing|||activities.|||
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|||Income and|Restricted|Total|
|---|---|---|---|---|
|||Expenditure|Reserve||
|||reserve|||
|Balance as at1stApril 2020||3,520,170||3,520,170|
|Transfer between
funds|||||
|Total comprehensive|income for the year|484,344||484,293|
|Balance as at31st|March 2021|4,004,514||4,004,453|
|Total comprehensive|income for the year|408,466||408,466|
|Balance at31stMarch 2022||R4,412,980||@4+12,980|
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|Fixed assets costing less than f250 are written
off in th|e year ofpur|e year ofpur|chase.||
|---|---|---|---|---|
|The cost offixed assets is depreciated
by equai annual|instalments||over their expected|economic lives as foitows:-|
|Freehold property
Leasehold
property aiterations|||Impairment
15years|review|
|Office equipment,
Hostel Furniture,
Kitchen and Washing||Equipment|5years||
|IT Equipment,
Television,
Fridge/Freezers|||2years||
|Motor Vehicles|||5years||
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||||||Cost of|Operating|Operating|
|---|---|---|---|---|---|---|---|
|||||Turnover|Sales|expenditure|Surplus|
||||||F|||
|Social housing
lettings||(note 3)||1,276,679|1,073,593|25,537|177,549|
|||||R1,276,679|R1,073,593|f25,537|F177,549|
|||||||2022|2021|
|Operafing|surplus|||||||
|Is stated|after charging:—|||||||
|Auditors|remuneration|(including|VAT)|||4,710|3,870|
|Depreciation oftangible||Sxed assets||||21,810|24,485|
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|INCOME AND|EX|PEN|DITUR|E|FRO|M S|OCIAL HOLDING LETT|INGS|INGS||
|---|---|---|---|---|---|---|---|---|---|---|
|||||||||Supported||Housing|
|||||||||||2021|
|||||||||||P|
|Rent receivable|net ofidentifiable||||service||charges|729,708||776,671|
|Service income||||||||68,887||77,164|
|Revenue grants||||||||478,084||464,143|
|Turnover
from social housing||||lettings||||K1,276,677|f1,317,978||
|Management||||||||25,537||25,477|
|Routine maintenance||||||||42,290||46,135|
|Other costs||||||||1,031,303||1,129,254|
|Operating
expenditure|||on social||housing||letbngs|R1,099,130|R1,200,866||
|Operating
surplus||on social housing||||lettings||f177,549||f117,112|
|Void losses||||||||16,315||25,185|
|Social housing|accommodation|||—bed spaces||||73||73|
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|INTEREST PAYA|BLE AND SIMILAR CHARGES|||
|---|---|---|---|
|||2022|2021|
|||Total|Total|
|Pension net return|on assets|||
|Bank Charges||1,034|1,040|
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||average number ofpersons employed
by the Compan|y
during the year was as follows:||
|---|---|---|---|
|||2022|2021|
|||No|No|
||Floating support workers|2|2|
||Management|2|2|
||Administration|1|1|
||Hostel support workers|21|21|
|||26|26|
||costs (I'or the above persons)|||
||Wages &salaries|678,606|616,733|
||Social security|60,508|55,311|
||Other pension costs|59,541|69,938|
|||F798,655|F741,982|
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|TANGIBLE FIXEDASS|ETS —HOUSING|PROPERTIES|||||
|---|---|---|---|---|---|---|
||Freehold|Leasehold|Plant, vehicles,|Furniture|&||
||Property
f|Alterations|Equipment
etc
F|Fittings||Total|
|Cost:|||||||
|At 1stApril 2021|868,699|402,690|94,361|68,646||1,434,397|
|Additions||106,945||||106,945|
|Disposals|||(3,268)|||(3,268)|
|At 31stMarch 2022|868,699|509,635|91,093|68,646||1,538,073|
|Depreciation:|||||||
|At 1stApril 2021||222,112|76,460|68,610||367,182|
|Charge forthe year||17,513|4,286|11||21,810|
|On Disposals|||(3,268)|||(3,268)|
|At 31stMarch 2022||239,624|77,478|68,622||385,724|
|Net book amounts:|||||||
|At 31stMarch 2022|868,699|270,011|13,615|||1,152,349|
|At 1stApril 2021|868,699|180,578|17,901|||1,067,214|
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|||||||2022|2021|
|---|---|---|---|---|---|---|---|
|||||||F||
||Term deposits
with||%nance||houses|564,067|554,909|
||Seven Investment||Management|||719,965|554,252|
||Brooks MacDonald|||||694,53?|541,613|
||Investec|||||200,000|201,440|
||Aegon|||||987,694|960,258|
||Investec Kick-Out||Plan|96||106,850|100,000|
||HEY Credit Union|||||65,520|65,064|
|||||||F3,338,633|E2,977,536|
|9.|DEBTORS|||||||
||||||||2021|
||Trade debtors|||||42,434|11,849|
||Rent receivable|excluding|||service charges|||
||Service charge|receivable||||||
||Prepayments
and||accrued||income|21,805|17,446|
|||||||f64,239|R29,295|
|10.|CREDITORS:|amounts||falling due within one year||||
|||||||2022|2021|
||Trade creditors|||||12,674|46|
||Tax and social|security|||||11,516|
||Other creditors|||||63,415|72,923|
||Accruals and deferred|||income||9,854|38,096|
|||||||f85,943|f122,581|
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|11.|CREDITORS: amounts|falling due after more than one year|||
|---|---|---|---|---|
||||f022|2021|
||||F||
||Recycled capital grant|fund|635,000|635,000|
||||F635,000|K635,000|
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|2022|2021|
|---|---|
|F|F|
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|Financial assumptions|||
|---|---|---|
|Discount rate|1%|1.9%|
|Future salary increase|0|.5%|
|Pension Increase rate|1%||
||2022|2021|
|Financial assumptions|||
|Retiring today:
Males|208|20.9|
|Females|235|23.3|
|Retiring
in 20years:|||
|Males|22.0|21.8|
|Females|253|24.8|
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||||2022|2021|
|---|---|---|---|---|
|Amounts
recognised|In surplus or deficit||||
|Current service cost|||35,000|35,000|
|Loss on settlements|||||
|Amounts
charged to|operating costs||K35,000|R35,000|
||||2022|2021|
|Net interest|||3,000|2,000|
|Amounts
charged to|other|finance costs|R3,000|R2,000|
|Reconciliation ofopening||and closing balances ofthe present value of plan||assets|
||||2022|2021|
|Opening
scheme liabilities|||(1,629,000)|(1,406,000)|
|Current service costs|||(40,000)|(35,000)|
|interest cost|||(31,000)|(32,000)|
|Contributions
by members|||(8,000)|(8,000)|
|Benefits paid|||75,000|64,000|
|Remeasurements|||63,000|(212,000)|
|Closing scheme
liabilities|||f1,570,000|K(1,629,000)|
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|Reconc||liati|on ofopening
and closing balances ofthe fair value|ofplan assets||
|---|---|---|---|---|---|
|||||2022|2021|
|Opening||fair|value of plan assets|1,776,000|1,399,000|
|Interest||income||34,000|34,000|
|Participants|||contributions|8,000|9,000|
|Return|on plan assets (in excess ofinterest income)|||124,000|222,000|
|Contributions|||by employer|18,000|180,000|
|Benefits||paid||(75,000)|(64,000)|
|Closing||fair|value ofplan assets|E1,885,000|F1,776,000|
|||||2022|2021|
|Actual||return on scheme assets||315,000|147,000|
|Major categories of plan assets as a percentage oftotal plan assets||||||
|||||2022|2021|
|Equities||||73%|67%|
|Bonds||||17%|18%|
|Property||||9%|12%|
|Cash||||1%|3%|