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2021-03-31-accounts

Page
Company
Information
Trustees'
Annual Report		 2 to 7
Reporting Accountant's
Report
Statement ofComprehensive
Income
Statement ofFinancial Position 10
Statement ofChanges in Reserves
Statement ofCash Flows 12
Notes to the Financial
Statements		 13to 23
Dctailcd Income and Expenditure Account 24
(for management
purposes
only)
THE NEWARK EMMAUS TR UST (REGI STEREDNUMBE R: 2783331)
COMPANY INFORMATION
FORTHE YEARENDED 31 MARCH 2021
C~NAME: The Newark Emmaus Trust
REGISTERED COMPANY NUMBER: 2783331(England and Wales)
1017344
TENANT SERVICES
AUTHORITY REGISTERED~ER:
OPERATIONAL ADDRESS: 37Nortbgate
Newark
Nottinghamshire
NG24 lBD
REGISTERED OFFICE: 3Middlegatc
Newark
No~hire
NG24 1AQ
MANAGEMENT CO~Et JDBlatherwick —Vice Chairman and Treasurer
NJBurley - Chief Executive Oflicer (no
AJDown		 voting rights)
EEFulcher
SM Gilbert
MRHaig
JAHowlett - Chairtnan
NJKenward
A CKitt
A AMReadmm
CRose
SECRETARY: 1DBlatherwick
REPORTING ACCOUNTANT: Adrian Heigh FCA
Stephenson
Nuttall &Co
Chartered
Accountants
Ossington
Chambers
6/8 Castle Gate
Newark
Nottinghamshire
NG24 1AX
SOLICITORS: Tallents Solicitors, 3 Middlegate, Newark, Nottingbamshim, NG24 1AQ
HSBC, The Market Place, Newark, Nottinghamsbim, NG24 1EQ
Barclays Bank, The Market Place, Newark, Nottinghamstme, NG24 1EJ
CAP Bank, 25 Kings Hdl Avenue, Kings Hill, West Mailing, Kent, ME194JP

31/3/21 31/3/20
Notes
Turnover 746,042 749,674
Less: Operating
costs
Operating
surplus		 58,788 54,403
Interest receivable and other income 2,565 2478
Interest and financing costs (23,000) (21,000)
Realised surplus on disposal of investment 12495
Surplus on ordinary
activities before taxatlon		 38,353 48,176
Tax on surplus on ordinary activities
Surplus for the year niter tax 38,353 48,176
Remeasurement
gain/fioss)		 on dcfincd benefit pension scheme 15 (2286 00 )
Total Comprehensive
Income for the year		 75 176
THE NEWARK EMMAUS TRUST (REGISTERED THE NEWARK EMMAUS TRUST (REGISTERED NUMBEIL 2783331)
STA~ OF FINANCIAL POSITION
31
MARCH 2021
31/3/21 31/3/20
Notes
FIXEDASSETS
Housing properlies
Other &eehold properties
Other fixed assets
Investments		 ll
11
11
12		 1,016,663
160,888
76,795
~81		 1,042,850
165,707
79,356
~5
1,335,741 1,453,908
CURRENT ASSETS
Debtors
Cash at bank and in hand		 13 113,867
~4		 43,595
~3
613,721 422,178
CREDlTORS
Amounts
fulling duc within one year		 14 26697 32674
NET CURRENT ASSETS ~7024 389
NET ASSETSEXCLUDING PENSION
LIABILITY
Defined benefit pension scheme liability		 15 1,922,765
~00		 1,843,412
NET ASSETS
FUNDS 16
Unrestricted
funds
~fimds		 ~7 662524
Unrestricted
funds exduding		 781,492 662,524
pension liability
Pension reserve		 ~3000
Total unrestricted
(deficit)/funds		 (528,508) (320,476)
Restricted funds 124,610 138,038
Endowment
reserve
TOTAL FUNDS

FORTHE YEARENDED 3 1
MARCH		 2021
General Total
unrestricted Pension unrestricted Restricted Endowment
funds reserve funds funds rescrvc Total
AT31
MARCH 2019		 604,097 (930,000) (325 tt03) 43&812 1,067/27 785~6
Surplus/(defici)
for the year		 81,950 (128,000) (46,050) 94/26 48,176
Remeasurement
gain/(loss)
on		 defined
benefi pension scheme 27,000 27,000 27,000
Transfers (Pension contributions) (48,000) 48,000
Transfers (Housing properties —depreciation) ~2447 24 477
AT31
MARCH 2020		 662,524 (983,000) (320,476) 138,038 1,042,850 860,412
Surplus/(deficit)
for the year		 141311 (94,000) 47,311 (8,958) 38353
Remeasurement
gain/(loss)
on		 defined
benefit pension scheme (286,000) (286,000) (286,000)
Transfers (Pension contributions) (53,000) 53,000
Transfers (Capital expenditure)
Transfers (Housing properties		 - depreciation) 4,470 4,470
~2187		 (4,470)
At 31
MARCH 2021		 781 @22808l ~124610 ~1016663 12765

STATEMENT OF CASH FLOWS
FORTHE YEARENDED 31
MARCH 2021
31/3/21 31/3/20
NET CASH FLOW FROM OPERATINGA~S (Note 18)
CASH FLOW FROM INVESTINGA~S		 50,061 123,054
Payments
to acquire tangible fixed assets		 (16,247) (5,487)
Proceech 1'rom sale ofinvestmcnts 85,995 159,135
Purchase ofinvestments (1,395) (160,995)
Intcrcst rcccivcd and other income ~2 1475
NET CASH FLOW FROM INVESTINGAC~S 5 872
NET CHANGE IN CASH AND CASH EQUIVALENTS 121471 117,182
Cash and cash equivalents
at 1"April 2020		 378583 ~240
CASH AND CASH EQUIVALENTS AT31
MARCH 2021		 ~4854 ~378 83
CASH AND CASHEQUIV~ CONSISTS OF:
Cash at bank and in hand 499854 378 583
CASH AND CASH EQUIVALENTS AT31
MARCH 2021		 ~499864 378

y
allocated. Wages
ng basis:		 have been apportione
Social housing Non-social
Letting s housing activities
30% 70%

Tumovcr 31/3/21
pcrating
costs		 Operating
surplus/(delicit)		 Tumovcr 31/3/20
~g
Operatmg
costs
surplus/(deficit)		 31/3/20
~g
Operatmg
costs
surplus/(deficit)
Notes f.
Social housing
1ettings
Non-social housing activities		 3
4		 487335
25)k707
~746		 254,673
~51
~68		 232,662
(~4
~		 482,363
26LQI
1444		 265,533
~42
738		 216,830
Q62242 )
generation
activities, a		 nd in supporting
the governance ofthe charity.		 nd in supporting
the governance ofthe charity.		 nd in supporting
the governance ofthe charity.
PARTICULARS OF INCOME AND EXPENDITURE FROM SOCIAL HOUSING LKTTINGS
31/3/21 31/3/20
8
Rent, housing benefits and service agreement ~47335
er from social hou ~482 3
Management
Costs
Insurance 5,566 4,877
Service Costs
Staffcosts (note 8) 144,842 148,651
Telephone 750 750
Routine maiintenance and renewals
Maintenance
and services		 73,021 85,603
Bad debts (965)
Depreciation
Housing properties
Equipment
and computers		 26,187
~23		 24,477
2 14Q
0 er
'
costs on social		 254 673 ~265 5 3
era '
s
lus on		 social hous I ~22
2		 2~1
~Void lo s ~239 2 ~13
6

31/3/21 31/3/20
Grants
Active Partners Trust 10,553
Asda 600
Birmingham
Children's		 Trust 9,532
BNA Charitable
Incorporated
Children
in Need		 32~5 12,000
30,173
Co-op 560
Groundwork
UK		 500
Hertfordshire
County Council		 903
John Lewis Partnership 2,000
JN Derbyshire
Trust		 2,000
Inudaid 4,936
Leeds Building Society 975
Lloyds Bank Foundation 12,137 7,130
London North Eastern Railway Limited 4,800
Mansfield Building Society 200
Masonic Charitable
Trust		 1,050
National
Lottery Fund		 92,356 89,858
Nationwide
Building Society		 45,398
Nottinghamshire
County		 Council 500 7443
Nottinghamshire
County		 Council —Councillors' Divisional Fund 1,900
Nottinghamshire
Fire &		 Rescue Service 3,540
Peterborough
City Council		 968
Skipton Building Society 690
The Morrisons
Foundation		 4,855
The7Stars Foundation 2,491
Thc Thomas Farr Charity 1,000
Virgin Money 15
Waitrose 711
174,432 209,367
Donations
and legacies
Covenants 1,440 1,350
Donations 13,786 55407
Legacies ~42
83,651 56,557
Other income
Fundraising
income		 624
Turnover *om non-social h us' activities f558 ~267 11
Expenditure
Stafi' costs (note 8) 337,965 346,853
Office costs 23,700 28,548
Training centre general costs 808 743
Bursary scheme 25 721
Motor expenses 1,960 615
Accountancy 3,480 3,660
Bank charges 754 1,094
Recruitment
and advertising		 449 768
Other professional
fees		 4,609 4,899
Other fieehold properties depreciation 4,819 4,819
Equipment
and computers		 depreciation 6,962 6,522
Motor vehicles depreciation 9,583 1,667
Residential
activities
Less: Residents
contributions		 37,467 29,191
~2
37467 ~28
2
0 era '
costs on non-social ho		 '
activities		 4~32
1		 ~429738
0 era '
s
lus/ deficit		 on non-social ho '
activities		 173874 16242

FOR
5.
THE YEARENDED 31
MARCH
~TRECEIVABLE AND		 2021
OTHE		 R INCOME
31/3/21 31/3/20
Interest receivable
and other income
6. INTEREST AND FINANCING COSTS
31/3/21 31/3/20
Finance costs ofdefine benefi pension scheme
7. OPERATING SURPLUS FORTHE YEAR
Thc operating
surplus for thc year is stated		 after charging:
31/3/21 31/3/20
Depreciation - owned assets 49,814 39,625
Pension costs —defined benefit schcmc 70,000 106,000
Pension costs —defined contribution scheme
STAFF COSTS
31/3/21 31/3/20
Wages and salaries 371,931 350,518
Social security costs 30,864 29,886
Pension costs —defined benefit scheme 70,000 106,000
Pension costs - defined contribution scheme tt 100
31/3/21 31/3/20
Social housing lettings
Non-social housing activities		 144,842 148,651
~53
No employee received emoluments ofmore than f60,000.
31/3/21 31/3/20
Number Number
The average monthly
number ofemployees		 during the year was as follows; 12 12

FIXEDASSETS
Other Total Equipment
Housing frcchold fieehold Motor and
propcrttcs prop
ames		 properties vehicles computers Totals
COST
At 1"April 2020 1442,851 240,950 1,583,801 40,000 76,513 1,700314
Additions
At 31"March 2021		 1342!3l ~ ~1583
1		 40 000} 9ZZ5Q ldt247
~116561
DEPRECIATION
At 1"April 2020
Charge for year
At 31"March 2021		 300,001
~26		 75443
~41
35 062		 375,244
31t13
4tt4250		 1,667
9583
~1		 35,490
~
~		 412,401
~414
~215
NET BOOKVALUE
At 31"March 2021		 ~8 ~11 28 750 ~ ~4
At 31"March 2020 ~12850 ~07 ~120 ~ 41l123~128791

12. FIXEDAS SETINVESTMENTS
31/3/21 31/3/20
I
Investments at market value
13. DEBTORS:AMOUNTS FALLING DUE~ONE YEAR
31/3/21 31/3/20
I
Rent arrears
Prcpayments		 and other debtors 54,005
~52		 35„t/23
7672
14. CREDITORS: AMOUNTS FALLING DUE~ONE YEAR
31/3/21 31/3/20

The total cost recognised in the period was as follows:-
31/3/21 31/3/20
Current service cost 70,000 75,000
Past service costs, including
curuubnents		 31,000
Net interest income/expense
Administration
expenses		 23,000
lllQ		 21,000
~1
Recognised in the surplus/deficit
for the year
Remeasurement
(gain)/loss
recognised
in other comprehensive		 income (seebelow) 94,000
2ii6 000		 128,000
~2000
Total cost recognised
Thc rcmcasumment
(gain)/loss
recognised		 in other comprehensive income comprises the following amounts;—
31/3/21 31/3/20
Actuarial
(gain)/loss		 635,000 (219,000)
Other actuarial
(gains)/losses		 72,000
Change in demographic
assumptions		 (26,000) (23,000)
Experience (gain)/loss
on schcmc obligation
Actual return
on scheme assets (excluding
interest income)		 (22,000)
~100		 (41,000)
184(Sl0
Remeasurement
(gain)/loss
recognised		 in other comprehensive income
Amounts
recognised on the Statement		 ofFinancial Position were as follows:-
31/3/21 31/3/20
Present value offunded obligations (3302,000) (2,514,000)
Fair value ofscheme assets ~18 2000
Net defined benefit pension scheme liabiTity

Chanesinthepresent value ofthe defined benefit obligations
were as
foll		 ows:-
g 31/3/21 31/3/20
Opening define benefit obligation
Current service cost
Interest expense
Actuarial
(gahr)/loss
Change in demographic
assumptions
Experience (gain)/loss
Past service costs, including
curtailment
Contributions
by scheme participants
Benefits paid		 2,514,000
70,000
59,000
635,000
(26,000)
(22,000)
12,000		 2,657,000
75,000
63,000
(219,000)
(23,000)
(41,000)
31,000
12,000
~4
Closing define benefi obligation
Changes in fair value ofthe pension scheme assets were as follows:- 31/3/21 31/3/20
Opening scheme assets
Intcrcst income		 1,531,000
36,000		 1,727,000
42,000
Actual return on scheme assets (excluding interest income)
Other actuarial
gains/(losses)
Administration
expenses
Contributions
by employer
Contributions
by scheme participants
Benefits paid		 301,000
(1,000)
53,000
12,000
~40		 (184,000)
(72,000)
(1,000)
48,000
12,000
~41000
Closing scheme assets
was as follows : -
31/3/21 31/3/20
Equities
Gilts		 1/05,000
67,000		 64%
4%		 980,000
50,000		 64%
3%
Other bonds 141,000 7% 133,000 9%
Property
Cash		 201,000
101,000		 11%
5%		 194,000
37,000		 13%
2%
Infiarion-linked pooled fund 74,000 4% 56,000 4%
Inrrastt
cture		 1gl 000 5% 5%
Total assets 100% 100%
The retarn on scheme assets was as follows:-
31/3/21 31/3/20
Interest income 36,000 42,000
Actual rctum on scheme assets (excluding
Other actuarial
gains/(losses)		 interest income) 301,000 (184,000)
f772@
Total return on plan assets
The principal actuarial assumptions used were as foflowst-
31/3/21 31/3/20
Discount rate 1.95% 2.35%
Expected rates ofsalary increases 3.85% 2.90%
Expected rates ofpension increases 2.85% 1.90%
Expected rate ofinfiation 2.85% 1.90%
The mortality assumptions used for longevity (in years) on retirement at age 65 are:
Retiring at the Statement ofFinancial Position date
—Males 21.6 21.8
-Females 24.3 24.4
Retiring in 20 years
—Males 22.9 23.2
—Females 25.7 25.8
Page 20

FUNDS
Unrestricted Total
General Pension Unrestricted Restricted Endowment Total
funds reserve fimds fimds reserve
f,		 fimdsf
Income
Social housing
lettings
Donations
snd legacies		 487335
82451		 487335
82451		 1,100 487335
83,651
Other income 624 624
Grants 1Lh932 ~174
Tllrrlovcr 569,886 569,886 176,156 746,042
Interest receivable and other income
Total income		 ~245 ~451 2565
~74
Expenditure
Insunmce		 5/66 5,566 5,566
Staff' costs 281,014 70,000 351,014 131,793 48?„807
Telephone
—accommodaiion
Maintenance
and services		 750
66,804		 750
66,804		 6417 750
73,021
Residential
activities
Oflice costs —telephone		 2,150
1,095		 2,150
1,095		 35317
4,125		 37,467
5~0
Oflice costs —other 12,893 12,893 5,587 18,480
Training Ceatre geaersl costs
Bursary scheme
Motor expenses		 308
25
548		 308
25
548		 500
1,412		 808
25
1,960
Accountancy
Bad debts		 3,480
2,044		 3,480
2,044		 3,480
2,044
Bank charges 754 754 754
ent and advertising 449 449 449
Other professional
fees		 3,446 1,000 4,446 163 4,609
Depreciafion - Housing properties 26,187 26,187 26,187
Depreciation
—Other &orhold properties		 4,819 4,819 4,819
Depreciation
—Motor vehicles
Depreciation
—Equipmcnt
snd computers		 9,583
~5
431,140		 71,000 9483
502,140		 185,114 9483
687~
Finance costs ofdefined benefit
pension
scheme		 23000
Surplus/(deficit)
for the year		 141,311 (94,000) 47311 (8958) — 38353
Remeasurement
gain/(loss)
on defined
benefit pension scheme (286,000) (286,000) (286,000)
Transfers
(Pension contributions)		 (53,000) 53,000
Transfers (Capital expenditure) 4,470 4,470 (4,470)
Transfers
(Housing properties - depreciation)		 26,187 26,187 (26,187)
Balance at 1
April 2020		 ~24 ~83 000 32
76		 ~2 861)412
Balance at 31"March 2021 ~14 2 ~1310000

YEARENDED 31
MARCH 2021
Total
Pension unrestricted Restricted Endowment
reserve funds funds reserve Totals
FIXEDASSETS
Housing properties 1,016,663 1,016,663
Other freehold properties 160,888 160,888 160,888
Other fixed assets 76,795 76,795 76,795
Investments 81,395 81,395 81,395
CURRENT ASSETS
Debtors 113,867 113,867 113,867
Cash at bank and in hand 375444 375444 124,610 499,854
CREDITORS
Amounts
falling duc within one year
DEFINEDB~PENSION		 (26,697) (26,697) (26,697)
SCHEME LIABILTIY
TOTAL NKT ASSETS/(LIABILITIES)~		 ~110000
YEAR ENDED 31
MARCH 2020
Total
Pension unrestricted Restricted Endowment
reserve funds funds rcscrve Totals
FIXEDASSETS
Housing properties 1,042,850 1,042,850
Other freehold propcrtics 165,707 165,707 165,707
Other fixed assets 79356 79,356 79/56
Invcstmcnts 165,995 165,995 165rt95
CURRl&22T ASSETS
Debtors 43,595 43,595 43,595
Cash at bank and in hand 240,545 240,545 138,038 378,583
CREDITORS
Atnounts
falling due within one year
D~B~PENSION		 (32,674) (32,674) (32,674)
SCHEME LIABILITY
TOTAL NKT ASSETS/(LIABILITIES)~		 ~83 000 ~830 ~983000

RECONCILIATION
OF OPERATING SUR
AC~		 PLUS/(DEFIC IT) TO CASH FL OW FROM O
31/3/21 31/3/20
f.
Operating
Surplus/(detlclt)
for the year		 58,788 54,403
Adjustments
for non-cash items:
Depreciation oftangible Sxed assets
Decrease/(increase)
in debtors
Increase/(decrease)
in creditors
Rcccipt ofdonated assets
Defincd benefit pension costs less contributions		 payable 49,814
(70,564)
(5,977)
jji 000		 39,625
5,634
6,892
(42,500)
~00
Net cash flow from operating
activities		 ~0061 ~2054

31/3/21 31/3/20
Number Number
Accommodation for Lettin
Units


FORTHEYEARE		 DED 31 MARCH 2021
31/3/21 f. 31/3/20 I
INCOME
Tulllover;
Donations		 15@26 56,557
Legacies
Grants
Rent, housing benefits
Sundry receipts		 and service charges 68,425
174,432
487,335
~24		 746,042 209,367
482,363
~387		 749,674
Other income:
Deposit account interest
Investment
income
Realised surplus
on disposal of		 investment 1,388
1,177		 1,475
803
~45
TOTAL INCOME ~07
EXPENDITURE
Provision ofaccommodation:
Residential
activities		 37,467 28,829
Insurance 5,566 4,877
Maintenance
and services		 73,021 85,603
Telephone
Bad debts		 750 750
~95
118,848 119,094
Training
Centre costs		 808 743
Staffcosts:
Wages
Social security
Pensions - defined benefi scheme		 371,931
30,864
70,000		 350,518
29,886
106,000
Pensions
—defined contribution		 scheme ZL0l2
482,807 495,504
Office costs:
Telephone 5/20 7,128
Office expcnscs 5,975 9,858
Repairs and renewals 11,397 10,764
Sundry expenses 1 108
23,700 28,548
Other costs:
Bursary scheme 25 721
Recruitment
and advertising		 449 768
Motor expcnscs 1,960 615
Bank charges 754 1,094
Legal and professional
Accountancy		 fees 4,609
~4		 4,899
~36 0
11+77 11,757
Depreciation:
Freehold property 31,006 29+97
Equipment
and computers		 9425 8,661
Motor vehicles 9583
49,814 39,625
Interest and finance costs:
Interest and financing costs ofdefined benefit
pension scheme 23 000 21 000
TOTAL EXPENDITURE 710254 ~716 7
SURPLUS FORTHE YEAR