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|---|---|---|
|Company
Information|||
|Trustees Report|||
|Report ofthe Auditors||6-8|
|Income and Expenditure|Account|9-10|
|Balance Sheet|||
|Cash flow statement||12|
|Notes to the Financial Statements|||
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||||Notes|Total|Total|
|---|---|---|---|---|---|
|||||2023
6|2022
f|
|Turnover||||1,645,591|1,276,731|
|Operating|expenditure|||(1,388,666)|(1,099,130)|
|Operating|surplus|||256,925|117,112|
|Interest receivable||||9,986|21,544|
|Interest payable||||(841)|(1,034)|
|Investment
Gains/(Losses)||||(65,332)|42,355|
|Surplus|on ordinary||activities for the period|6200,738|6240,466|
|Pension|(loss)/gain|in|period|392,000|168,000|
|Total comprehensive|||income for the year|6592,738|6408,466|
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|||Income and|Restncted|Total|
|---|---|---|---|---|
|||Expenditure|Reserve||
|||reserve|||
|Balance as at 1st April 2020||4,004,514||4,004,514|
|Transfer between
funds|||||
|Total comprehensive|income for the year|408,466||408,466|
|Balance as at 31st|March 2021|4,412,980||4,412,980|
|Total comprehensive|income for the year|592,736||592,736|
|Balance at 31st March 2022||85,005,718||F5,005,718|
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||||||2023|2022|
|---|---|---|---|---|---|---|
|||||Note|||
|Cash flows from operating||activities|||||
|Cash (absorbed
by)/generated
from
operations|||||248,169|148,339|
||||||248,169|148,339|
|Investing
Purchase
Purchase|activities
oftangible fixed assets
of investments||||82,994|106,945
318,742|
|Net cash|generated
from investing||activities||82,994|425,687|
|Net decrease
in cash and||cash equivalents|||165,177|(277,348)|
|Cash and|cash equivalents|at the beginning||ofthe year|263,452|540,800|
|Cash and|cash equivalents|at the end ofthe year|||6428,629|6263,452|
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||||||Cost of|Operating|Operating|
|---|---|---|---|---|---|---|---|
|||||Turnover
f|Sales
f|expenditure
5|Surplus
6|
|Social housing
lettings||(note 3)||1,645,591|1,367,556|21,110|256,925|
|||||61,645,591|61,367,556|621,110|6256,925|
|Operating|surplus|||||2023
5|2022f|
|Is stated|after charging:-|||||||
|Auditors|remuneration|(including|VAT)|||4,450|4,710|
|Depreciation
oftangible||fixed assets||||34,945|21,810|
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|INCOME AND|EXPE|NDITUR|E|FRO|M S|OCIAL HOLDING LETT|INGS|INGS||
|---|---|---|---|---|---|---|---|---|---|
||||||||Supported||Housing|
||||||||2023
f||2022f|
|Rent receivable|net of identifiable|||service||charges|958,217||729,708|
|Service income|||||||66,063||68,887|
|Revenue
grants|||||||621,311||478,084|
|Turnover
from social housing|||lettings||||81,645,591|F1,276,677||
|Management|||||||21,110||25,537|
|Routine maintenance|||||||58,715||42,290|
|Other costs|||||||1,308,841||1,031,303|
|Operating
expenditure||on social||housing||lettings|81,388,666|81,099,130||
|Operating
surplus
on||social housing|||lettings||8256,925||5177,549|
|Void losses|||||||14,716||16,315|
|Social housing|accommodation|||—bed spaces|||73||73|
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|INTERE|ST PAYA|BLE AND SIMILAR CHARGES|||
|---|---|---|---|---|
||||2023|2022|
||||Total
8|Totalf|
|Pension|net return|on assets|||
|Bank Charges|||841|1,034|
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|average
number|of persons employed
by the Compa|ny
during the year was as follows:||
|---|---|---|---|
|||2023|2022|
|||No|No|
|Floating support|workers|2|2|
|Management||2|2|
|Administration||1|1|
|Hostel support workers||21|21|
|||26|26|
|costs (for the above persons)||||
|Wages &salaries||864,222|678,606|
|Social security||80,720|60,508|
|Other pension costs||91,163|59,541|
|||81,036,105|f798,655|
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|TANGIBLE FIXEDASS|ETS —HOUSING|PROPERTIES|||||
|---|---|---|---|---|---|---|
||Freehold|Leasehold|Plant, vehicles,|Furniture|&||
||Property
f|Alterations
f|Equipment
etc
f|Fittings
6||Total
6|
|Cost:|||||||
|At 1st April 2022|868,699|509,635|91,093|68,645||1,434,397|
|Additions||66,385|7,900|8,708||82,993|
|Disposals|||||||
|At 31st March 2023|868,699|576,020|98,993|77,353||1,621,066|
|Depreciation:|||||||
|At 1st April 2022||239,624|77,478|68,622||385,724|
|Charge for the year||29,068|5,866|11||34,945|
|On Disposals|||||||
|At 31st March 2023||268,692|83,344|68,633||420,669|
|Net book amounts:|||||||
|At 31st March 2023|868,699|307,328|15,649|8,720||1,200,396|
|At 1st April 2022|868,699|260,514|13,615|24||1,152,349|
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||||||2023
6|2022f|
|---|---|---|---|---|---|---|
||Term deposits|with finance houses|||573,380|564,067|
||Seven Investment||Management||689,610|719,965|
||Brooks MacDonald||||789,700|694,537|
||Investec|||||200,000|
||Aegon||||1,164,365|987,694|
||Investec Kick-Out||Plan|96||106,850|
||HEY Credit Union||||66,174|65,520|
||||||63,283,229|F3,338,633|
|9.|DEBTORS||||||
||||||2023|2022|
||||||6||
||Trade debtors||||25,005|42,434|
||Prepayments|and|accrued income||55,604|21,805|
||||||580,609|664,239|
|10.|CREDITORS:|amounts||falling due within one year|||
||||||2023
8|2022f|
||Trade creditors||||43,877|12,674|
||Other creditors|||||63,415|
||Accruals and deferred|||income|15,518|9,854|
||||||f59,395|685,943|
|CREDIT|ORS: a|mounts|falling due after more than|one year||
|---|---|---|---|---|---|
|||||2023f|2022f|
|Recycled|capital|grant|fund|635,000|635,000|
|||||f635,000|f635,000|
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|||||2023|2022|
|---|---|---|---|---|---|
|||||6|6|
|Surplus for|the year|||592,738|408,466|
|Adjustments|for|||||
|Pension
gain||||(392,000)|(168,000)|
|Depreciation||||34,945|21,810|
|Investment|loss/(gain)|||55,404|(42,355)|
|Movements|in working||capital|||
|Decrease/(increase)||in|debtors|(16,370)|(34,944)|
|(Decrease)/increase||in|creditors|(26,548)|(36,638)|
|||||8248,169|8148,339|
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|l actuar|ial assumptions|||
|---|---|---|---|
|||2023|2022|
|Financial assumptions||||
|Discount|rate|4.75'/o|2 7o/o|
|Future salary increase||3'/o|4.2'/o|
|Pension|Increase rate|3'/o|3.3'/o|
|||2023|2022|
|Financial assumptions||||
|Retiring|today:|||
|Males||20.8|20.8|
|Females||23.7|23.5|
|Retiring|in 20 years:|||
|Males||21.5|22.0|
|Females||25.2|25.3|
##
||||2023||2022|
|---|---|---|---|---|---|
|Amounts
recognised|in surplus or deficit|||||
|Current service cost|||30,000||35,000|
|Loss on settlements||||||
|Amounts
charged to|operating costs||530,000||535,000|
||||2023||2022|
|Net interest|||9,000||3,000|
|Amounts
charged to|other|finance costs|59,000||S3,000|
|Reconciliation
ofopening||and closing balances ofthe present value of plan||assets||
||||2023||2022|
|Opening
scheme
liabilities
Current service costs|||(1,570,000)
(30,000)|(1,629,000)
(40,000)||
|Interest cost|||(42,000)||(31,000)|
|Contributions
by members
Benefits paid|||(6,000)
40,000||(8,000)
75,000|
|Remeasurements|||233,000||63,000|
|Closing scheme
liabilities|||E(1,375,000)|E(1,570,000)||
##
|Reconc|iliatio|n
ofopening
and closing balanc|es ofthe fair value|of plan asset|s|
|---|---|---|---|---|---|
|||||2023|2022|
|Opening|fair|value of plan assets||1,885,000|1,776,000|
|Interest|income|||51,000|34,000|
|Participants||contributions||6,000|8,000|
|Return on plan assets (in excess of interest income)||||166,000|124,000|
|Contributions||by employer||14,000|18,000|
|Benefits|paid|||(40,000)|(75,000)|
|Closing|fair value of plan assets|||52,082,000|61,885,000|
|||||2023|2022|
|Actual|return on scheme assets|||707,000|147,000|
|Major categories of plan assets as a percentage|||oftotal plan assets|||
|||||2023|2022|
|Equities||||72'/o|73'/o|
|Bonds||||17'/o|17'/o|
|Property||||9'/o|9'/o|
|Cash||||2'/o|1 '/o|