| Page | ||||
|---|---|---|---|---|
| Reference and Administrative | Details ofthe Company, | its Trustees and Advisers | ||
| Trustees' Report |
2-12 | |||
| Independent Auditors' |
Report | on the Financial Statements | 13-17 | |
| Statement of Financial | Activities | 18 | ||
| Balance Sheet | 19-20 | |||
| Statement ofCash Flows | 21 | |||
| Notes to the Financial | Statements | 22-41 |
| Trustees | R Millett (resigned | R Millett (resigned | 28 | April | 2021) | |||
|---|---|---|---|---|---|---|---|---|
| G Bratby | ||||||||
| J Allen | ||||||||
| R Hall | ||||||||
| R Hubbard | ||||||||
| J Wilkinson | ||||||||
| SJones | ||||||||
| H Spencer | ||||||||
| SCzabaniuk | ||||||||
| C Fielder-Shatell | (appointed | 24 December 2021) | ||||||
| Company | registered | |||||||
| number | 02908711 | |||||||
| Charity registered | ||||||||
| number | 1046933 | |||||||
| Registered | office | 22 Market | Place | |||||
| Gains borough |
||||||||
| Lincolns hire | ||||||||
| DN21 2BZ | ||||||||
| Company | secretary | L Whitelam | ||||||
| Chief executive officer | H Walton | |||||||
| Independent | auditors | Streets Audit LLP | ||||||
| Chartered | accountants | and | statutory | auditor | ||||
| Tower House | ||||||||
| Lucy Tower Street | ||||||||
| Lincoln | ||||||||
| LN1 1XW |
| throughout the |
year. Be | low are some | ofthe headlines | : | |
|---|---|---|---|---|---|
| Performance | indicator | Target | 2020/21 | 2021/22 | |
| Rents Receivable | 85'/o | 87'/o | 83.5'/o | ||
| Rooms available for let |
99'/o | 97'/o | 99'/o | ||
| Bad debt write | offs as a '/trent debt |
2'/o | 0.22'/o | 0.45'/o | |
| '/o of planned | move-on | from service | 90'/o | 98o/o | 95'/o |
| Total number | of Clients | in Employment30'/o | N/A | 40'/o | |
| Total number | of Clients | in Training | 40'/o | N/A | 41'/ |
| and Education |
| Unrestricted | Restricted | Total | Total | |||
|---|---|---|---|---|---|---|
| funds | funds | funds | funds | |||
| Note | 2022 | 2022 | 2022f | 2021 | ||
| Income from: | ||||||
| Donations and legacies |
39,696 | 5,750 | 45,446 | 580,134 | ||
| Charitable activities |
751,895 | 751,895 | '/,006,838 | |||
| Investments | 148,231 | 148,231 | 134,099 | |||
| Total income | 939,822 | 5,750 | 945,572 | 1,721,071 | ||
| Expenditure on: |
||||||
| Charitable activities |
844,774 | 6,467 | 851,241 | 1,034,876 | ||
| Total expenditure | 844,774 | 6,467 | 851,241 | 1,034,876 | ||
| Net income/(expenditure) | 95,048 | (717) | 94,331 | 686,195 | ||
| Transfers between |
funds | 17 | 97,876 | (97,876) | ||
| Net movement in |
funds before other | |||||
| recognised gains/(losses) |
192,924 | (98,593) | 94,331 | 686,195 | ||
| Other recognised | gains/(losses): | |||||
| Losses on revaluation offixed assets |
(27,471) | (27,471) | (282,537) | |||
| Net movement in |
funds | 165,453 | (98,593) | 66,860 | 403,658 | |
| Reconciliation of |
funds: | |||||
| Total funds brought | forward | 2,110,404 | 101,876 | 2,212,280 | '/,808,622 | |
| Net movement in funds |
165,453 | (98,593) | 66,860 | 403,658 | ||
| Total funds carried forward | 2,275,857 | 3,283 | 2,279,140 | 2,212,280 |
| Note | 2022f | 2021 | |
|---|---|---|---|
| Charity funds | |||
| Restricted funds | 17 | 3,283 | 101,876 |
| Unrestricted funds |
17 | 2,275,857 | 2,110,404 |
| Total funds | 2,279,140 | 2,212,280 |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Cash flows from operating | activities | ||||
| Net cash used in operating |
activities | 98,075 | 338,192 | ||
| Cash flows from investing | activities | ||||
| Dividends, interests and rents from investments |
148,231 | 134,099 | |||
| Purchase oftangible fixed assets |
(216,230) | (669,776) | |||
| Net cash used in investing | activities | (67,999) | (535,677) | ||
| Cash flows from financing | activities | ||||
| Cash inflows from new borrowing | 994,409 | ||||
| Repayments of borrowing |
(111,529) | (93,015) | |||
| Net cash (used in)/provided | by financing | activities | (111,529) | 901,394 | |
| Change in cash and cash |
equivalents in |
the year | (81,453) | 703,909 | |
| Cash and cash equivalents | at the beginning | ofthe year | 1,117,304 | 413,395 | |
| Cash and cash equivalents | at the end of | the year | 1,035,851 | 1,117,304 | |
| The notes on pages 22 to 41 form part ofthese financial statements |
| Unrestricted | Restricted | Total | Total | ||
|---|---|---|---|---|---|
| funds | funds | funds | funds | ||
| 2022 | 2022f | 2022 | 2021 | ||
| Donations | 5,432 | 5,432 | 9,556 | ||
| Grants | 34,070 | 5,750 | 39,820 | 539,909 | |
| Government | grants | 194 | 194 | 30,669 | |
| Total 2022 | 39,696 | 5,750 | 45,446 | 580,134 | |
| Total 2021 | 40,225 | 539,909 | 580,134 |
| Unrestricted | Total | Total | |||||||
|---|---|---|---|---|---|---|---|---|---|
| funds | funds | funds | |||||||
| 2022f | 2022 | 2021 | |||||||
| Income | from | charitable | activities | - | Housing | Support | 751,895 | 751,895 | 1,006,838 |
| Unrestricted | Total | Total | ||
|---|---|---|---|---|
| funds | funds | funds | ||
| 2022f | 2022 | 2021 | ||
| Rents received from NHS | 127,006 | 127,006 | 112,847 | |
| Telephone | mast income | 21,111 | 21,111 | 21,111 |
| Deposit account interest | 114 | 114 | 141 | |
| Total 2022 | 148,231 | 148,231 | 134,099 |
| Unrestricted | Restricted | Total | Total | |
|---|---|---|---|---|
| funds | funds | funds | funds | |
| 2022 | 2022f | 2022 | 2021 | |
| Housing Support |
577,912 | 6,467 | 584,379 | 837,635 |
| General Needs | 183,110 | |||
| Corporate Overheads | 266,862 | 266,862 | 14,131 | |
| Total 2022 | 844,774 | 6,467 | 851,241 | 1,034,876 |
| Total 2021 | 1,009,117 | 25,759 | 1,034,876 |
| Activities | ||||
|---|---|---|---|---|
| undertaken | Support | Total | Total | |
| directly | costs | funds | funds | |
| 2022 | 2022f | 2022 | 2021 | |
| Housing Support |
534,515 | 49,864 | 584,379 | 837,635 |
| General Needs | 183,110 | |||
| Corporate Overheads | 222,935 | 43,927 | 266,862 | 14,131 |
| Total 2022 | 757,450 | 93,791 | 851,241 | 'l,034,876 |
| Total 2021 | 761,729 | 273, '/47 | 1,034,876 |
| Housing | General | Corporate | Total | Total | ||
|---|---|---|---|---|---|---|
| Support | Needs | Overheads | funds | funds | ||
| 2022 | 2022 | 2022f | 2022 | 2021 | ||
| Staff costs | 255,457 | 156,249 | 411,706 | 361,989 | ||
| Depreciation | 42,525 | 16,412 | 58,937 | 53,076 | ||
| Rent, rates | and water | 91,448 | 7,672 | 99,120 | 113,201 | |
| Insurance | 3,291 | 8,835 | 12,126 | 11,445 | ||
| Light and heat | 42,999 | 7,121 | 50,120 | 49,782 | ||
| Telephone | 2,272 | |||||
| Property Repairs | 50,408 | 4,496 | 54,904 | 101,317 | ||
| Household | and Cleaning | 19,040 | 3,473 | 22,513 | 22,534 | |
| TV Licences | 4,105 | 54 | 4,159 | 4,665 | ||
| Client Broadband | 1,081 | |||||
| Bad debt write off | 3,327 | 3,327 | 4,006 | |||
| Professional | fees | 581 | 581 | 326 | ||
| Mortgage Interest |
21,334 | 18,623 | 39,957 | 36,035 | ||
| Total 2022 | 534,515 | 222,935 | 757,450 | 761,729 | ||
| Total 2021 | 637,463 | 115,475 | 8,791 | 761,729 |
| Housing | General | Corporate | Total | Total | |
|---|---|---|---|---|---|
| Support | Needs | Overheads | funds | funds | |
| 2022 | 2022 | 2022f | 2022 | 2021 | |
| Staff costs | 176,678 | ||||
| Telephone | 4,455 | 3,620 | 8,075 | 10,116 | |
| Household and Cleaning |
524 | 524 | 731 | ||
| Client Broadband | 8,388 | 8,388 | 3,343 | ||
| Sundry expenses | 1,284 | 1,247 | 2,531 | 6,693 | |
| Employee costs | 4,016 | 3,108 | 7,124 | 4,557 | |
| Computer costs | 8,439 | 18,684 | 27,123 | 26,211 | |
| Bank charges | 280 | 481 | 761 | 958 | |
| Auditors' remuneration |
7,800 | 7,800 | 7,800 | ||
| Professional fees |
8,326 | 8,887 | 17,213 | 32,362 | |
| Travel costs | 4,063 | 100 | 4,163 | 2,087 | |
| Donations made |
10,089 | 10,089 | 1,611 | ||
| Total 2022 | 49,864 | 43,927 | 93,791 | 273,147 | |
| Total 2021 | 200,172 | 67,635 | 5,340 | 273,147 |
| 2022 | 2021 | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Fees | payable | to | the | company's | auditor | for | the | audit | ofthe | company's | ||
| annual | accounts | 6,000 | 7,950 |
| Staff costs | |||||
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| Wages and | salaries | 376,495 | 498,998 | ||
| Social security costs | 25,248 | 27,175 | |||
| Contribution | to defined | contribution | pension schemes | 9,963 | 12,494 |
| 411,706 | 538,667 |
| 2022 | 2021 | ||
|---|---|---|---|
| No. | No. | ||
| Total | staff | 20 | 18 |
| Freehold | Fixtures and | Computer | ||
|---|---|---|---|---|
| property | fittings | equipment | Total | |
| F | ||||
| Cost or valuation | ||||
| At 1 April 2021 | 2,809,374 | 64,405 | 10,209 | 2,883,988 |
| Additions | 216,230 | 216,230 | ||
| Impairment ofassets |
(27,471) | (27,471) | ||
| At 31 March 2022 | 2,998,133 | 64,405 | 10,209 | 3,072,747 |
| Depreciation | ||||
| At 1 April 2021 | 6,666 | 63,427 | 10,209 | 80,302 |
| Charge for the year | 58,151 | 786 | 58,937 | |
| At 31 March 2022 | 64,817 | 64,213 | 10,209 | 139,239 |
| Net book value | ||||
| At 31 March 2022 | 2,933,316 | 192 | 2,933,508 | |
| At 31March 2021 | 2,802,708 | 978 | 2,803,686 |
| 2022 | 2021 | ||
|---|---|---|---|
| Cost | 3,647,548 | 3,431,318 | |
| Accumulated | Depreciation | (545,485) | (474,951) |
| 3,102,063 | 2,956,367 |
| Long term | |
|---|---|
| leasehold | |
| investment | |
| property | |
| F | |
| Valuation | |
| At 1 April 2021 | 941,380 |
| At 31 March 2022 | 941,380 |
| 2022 | 2021 | ||
|---|---|---|---|
| Due within one year | |||
| Trade debtors | 62,755 | 58,752 | |
| Prepayments | and accrued income | 11,670 | 10,082 |
| 74,425 | 68,834 |
| 2022 | 2021 | ||||||
|---|---|---|---|---|---|---|---|
| Bank loans | 210,119 | 87,374 | |||||
| Trade creditors | 21,420 | 18,146 | |||||
| Other creditors | 5,683 | 7,219 | |||||
| Accruals | and deferred | income | 199,446 | 100,603 | |||
| 436,668 | 213,342 | ||||||
| 2022 | 2021 | ||||||
| Deferred | income at | 1 April 2021 | 68,460 | 56,226 | |||
| Resources deferred | during the year | 110,738 | 68,460 | ||||
| Amounts | released | from previous | periods | (68,460) | (56,226) | ||
| 110,738 | 68,460 |
| Balance at | ||||||
|---|---|---|---|---|---|---|
| Balance at 1 | Transfers | Gains/ | 31 March | |||
| April 2021 | Income | Expenditure | in/out f |
(Losses) | 2022 | |
| Unrestricted | ||||||
| funds | ||||||
| Free Reserves | 958,284 | 939,822 | (785,827) | (231,835) | 880,444 | |
| Investment | ||||||
| Property | 941,380 | 941,380 | ||||
| Property | ||||||
| Reserve | 2,802,708 | (58,151) | 216,230 | (27,471) | 2,933,316 | |
| Loan Reserve | (2,592,956) | 113,481 | (2,479,475) | |||
| Fixed Asset | ||||||
| Reserve | 988 | (796) | 192 | |||
| 2,110,404 | 939,822 | (844,774) | 97,876 | (27,471) | 2,275,857 | |
| Restricted | ||||||
| funds | ||||||
| SIBGrant | 97,876 | (97,876) | ||||
| WLDC Artwork | 4,000 | 2,500 | (4,406) | (2,094) | ||
| Alley Cats | ||||||
| Funding | 3,250 | (2,061) | 2,094 | 3,283 | ||
| 101,876 | 5,750 | (6,467) | (97,876) | 3,283 | ||
| Total offunds | 2,212,280 | 945,572 | (851,241) | (27,471) | 2,279,140 |
| Statement offun | ds - prior year | |||||
|---|---|---|---|---|---|---|
| Balance at | ||||||
| Balance at | Transfers | Gainsi | 31March | |||
| 1April 2020 | Income | Expenditure | inlout | (Losses) | 2021 | |
| Unrestricted | ||||||
| funds | ||||||
| Free Reserves | 91T,036 | 938,259 | (T78,145) | 822,514 | 1,899,664 | |
| Investment | ||||||
| Property | 'l'l3,576 | 242,903 | (177,857) | (178,622) | ||
| Property | ||||||
| Reserve | 2,467,707 | (52,237) | 669,775 | (282,537) | 2,802,708 | |
| Loan Reserve | (1,691,563) | (901,393) | (2,592,956) | |||
| Fixed Asset | ||||||
| Reserve | 1,866 | (878) | 988 | |||
| 1,808,622 | 1,181,162 | (1,009,117) | 412,274 | (282,537) | 2,110,404 | |
| Restricted | ||||||
| funds | ||||||
| Lloyds | ||||||
| foundation | 21,109 | (21,109) | ||||
| Homes England | 360,000 | (360,000) | ||||
| SIBGrant | 150,000 | (52,124) | 97,876 | |||
| Screwfix | ||||||
| Foundation | 4,800 | (4,650) | (150) | |||
| WLDC Artwork | 4,000 | 4,000 | ||||
| 539,909 | (25,759) | (412,274) | 101,876 | |||
| Total offunds | 1,808,622 | 539,909 | (1,034,876) | (282,537) | 2,212,280 |
| Summary | offunds | - current yea | r | ||||
|---|---|---|---|---|---|---|---|
| Balance at | |||||||
| Balance at 1 | Transfers | Gains/ | 31 March | ||||
| April 2021 | Income | Expenditure | in/outf | (Losses) | 2022 | ||
| General funds | 2,110,404 | 939,822 | (844,774) | 97,876 | (27,471) | 2,275,857 | |
| Restricted | funds | 101,876 | 5,750 | (6,467) | (97,876) | 3,283 | |
| 2,212,280 | 945,572 | (851,241) | (27,471) | 2,279,140 | |||
| Summary | offunds | - prior year | |||||
| Balance at | |||||||
| Balance at | Transfers | Gainsi | 31March | ||||
| 1April 2020 | Income | Expenditure | in/out | (Losses) | 2021 | ||
| General funds | 1,808,622 | 1,181,162 | (1,009,117) | 412,274 | (282,537) | 2,110,404 | |
| Restricted | funds | 539,909 | (25,759) | (412,274) | 101,876 | ||
| 1,808,622 | 1,721,071 | (1,034,876) | (282,537) | 2,212,280 |
| Analysis Analysis |
ofnet assets between funds ofnet assets between funds - current |
year | ||
|---|---|---|---|---|
| Unrestricted | Restricted | Total | ||
| funds | funds | funds | ||
| 2022 | 2022 | 2022 | ||
| E | ||||
| Tangible fixed assets | 2,933,508 | 2,933,508 | ||
| investment | property | 941,380 | 941,380 | |
| Current assets | 1,106,993 | 3,283 | 1,110,276 | |
| Creditors | due within one year | (436,668) | (436,668) | |
| Creditors | due in more than one year | (2,269,356) | (2,269,356) | |
| Total | 2,275,857 | 3,283 | 2,279,140 |
| Analysis | ofnet assets between funds - prior y | ear | ||
|---|---|---|---|---|
| Unrestricted | Restricted | Total | ||
| funds | funds | funds | ||
| 2021 | 2021 | 2021 | ||
| Tangible fixed assets | 2,803,686 | 2,803,686 | ||
| Investment | property | 941,380 | 941,380 | |
| Current assets | 1,084,262 | 101,876 | 1,186,138 | |
| Creditors | due within one year | (213,342) | (213,342) | |
| Creditors | due in more than one year | (2,505,582) | (2,505,582) | |
| Tl | 2,110,404 | 101,876 | 2,212,280 |
| 2022 | 2021 | |||
|---|---|---|---|---|
| Not later than | 1 year | 612 | 612 | |
| Later than | 1 year and not later than 5years | 1,224 | 1,836 | |
| 1,836 | 2,448 |