##
|||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|
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||||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|~|41l12**3**~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|||||||||