| 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 | 22-40 |
| Trustees | G Bratby (resigned 26 April | G Bratby (resigned 26 April | G Bratby (resigned 26 April | G Bratby (resigned 26 April | G Bratby (resigned 26 April | 2023) | |||
|---|---|---|---|---|---|---|---|---|---|
| J Allen | |||||||||
| R Hall | |||||||||
| R Hubbard | (resigned | 26 April 2023) | |||||||
| J Wilkinson | |||||||||
| H Spencer | |||||||||
| SCzabaniuk | |||||||||
| J Hickson | (appointed | 26 October 2022) | |||||||
| C Fielder-Shatell | (resigned | 1 July 2023) | |||||||
| SScoffield | (appointed | 26 October 2022) | |||||||
| AJ Webb | (appointed | 26 October 2022) | |||||||
| Company | registered | ||||||||
| number | 02908711 | ||||||||
| Charity registered | |||||||||
| number | 1046933 | ||||||||
| Registered | office | 22 Market | Place | ||||||
| Gains borough | |||||||||
| Lincolnshire | |||||||||
| 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 | 2021/22 | 2022/23 | |
| Rents Receivable | 95'/o | 83.5'/o | 89'/o | ||
| Rooms available for let |
98'/o | 99'/o | 98o/ | ||
| Bad debt write | offs as a '/orent debt | 2'/o | 0.45'/o | 0 02o/&& | |
| '/o of planned | move-on | from service | 90'/o | 93'/o | 94'/o |
| Total number | of Clients | in Employment30'/o | 40'/o | 47'/o | |
| Total number | of Clients | in Training | 40'/o | 41'/o | 38o/o |
| and Education |
| Unrestricted | Restricted | Total | Total | |||
|---|---|---|---|---|---|---|
| funds | funds | funds | funds | |||
| 2023 | 2023 | 2023 | 2022 | |||
| Note | ||||||
| Income from: | ||||||
| Donations and legacies |
60,260 | 79,577 | 139,837 | 45,446 | ||
| Charitable activities |
869,073 | 869,073 | 751,895 | |||
| Investments | 155,753 | 155,753 | '/48, 231 | |||
| Total income | 1,085,086 | 79,577 | 1,164,663 | 945,572 | ||
| Expenditure on: |
||||||
| Charitable activities |
981,318 | 81,089 | 1,062,407 | 851,241 | ||
| Total expenditure | 981,318 | 81,089 | 1,062,407 | 851,241 | ||
| Net movement in |
funds before other | |||||
| recognised gains/(losses) |
103,768 | (1,512) | 102,256 | 94,331 | ||
| Other recognised | gains/(losses): | |||||
| Losses on revaluation of fixed assets |
(64,575) | (64,575) | (27,471) | |||
| Net movement in |
funds | 39,193 | (1,512) | 37,681 | 66,860 | |
| Reconciliation of |
funds: | |||||
| Total funds brought | forward | 2,275,857 | 3,283 | 2,279,140 | 2,212,280 | |
| Net movement in funds |
39,193 | (1,512) | 37,681 | 66,860 | ||
| Total funds carried forward | 2,315,050 | 1,771 | 2,316,821 | 2,279,140 |
| 2023 | 2022 | ||||||
|---|---|---|---|---|---|---|---|
| Note | E | ||||||
| Fixed assets | |||||||
| Tangible assets | 12 | 3,121,105 | 2,933,508 | ||||
| Investment property |
13 | 941,380 | 941,380 | ||||
| 4,062,485 | 3,874,888 | ||||||
| Current assets | |||||||
| Debtors | 14 | 83,498 | 74,425 | ||||
| Cash at bank and | in hand | 564,773 | 1,035,851 | ||||
| 648,271 | 1,110,276 | ||||||
| Creditors: amounts | falling due within one | ||||||
| year | 15 | (370,589) | (436,668) | ||||
| Net current assets | 277,682 | 673,608 | |||||
| Total assets less | current liabilities | 4,340,167 | 4,548,496 | ||||
| Creditors: amounts | falling due after more | ||||||
| than one year | 16 | (2,023,346) | (2,269,356) | ||||
| Net assets excluding | pension asset | 2,316,821 | 2,279,140 | ||||
| Total net assets | 2,316,821 | 2,279,140 |
| 2023 | 2022 | |||
|---|---|---|---|---|
| Note | E | |||
| Charity funds | ||||
| Restricted | funds | 17 | 1,771 | 3,283 |
| Unrestricted | funds | 17 | 2,315,050 | 2,275,857 |
| Total funds | 2,316,821 | 2,279,140 |
| 2023f | 2022 | |||
|---|---|---|---|---|
| Cash flows from operating | activities | |||
| Net cash used in operating |
activities | (58,615) | 98,075 | |
| Cash flows from investing | activities | |||
| Dividends, interests and rents from investments |
155,753 | 'l48,231 | ||
| Purchase oftangible fixed assets |
(319,865) | (216,230) | ||
| Net cash used in investing |
activities | (164,112) | (67,999) | |
| Cash flows from financing | activities | |||
| Repayments of borrowing |
(248,351) | (11 1,529) | ||
| Net cash used in financing |
activities | (248,351) | (111,529) | |
| Change in cash and cash |
equivalents in |
the year | (471,078) | (81,453) |
| Cash and cash equivalents | at the beginning | ofthe year | 1,035,851 | 1,117,304 |
| Cash and cash equivalents | at the end of | the year | 564,773 | 1,035,851 |
| The notes on pages 22 to 40 form part ofthese financial statements |
| Unrestricted | Restricted | Total | Total | ||
|---|---|---|---|---|---|
| funds | funds | funds | funds | ||
| 2023 | 2023 | 2023 | 2022 | ||
| Donations | 6,772 | 6,772 | 5,432 | ||
| Grants | 53,488 | 79,577 | 133,065 | 39,820 | |
| Government | grants | 194 | |||
| Total 2023 | 60,260 | 79,577 | 139,837 | 45,446 | |
| Total 2022 | 39,696 | 5,750 | 45,446 |
| Unrestricted | Total | Total | |||||||
|---|---|---|---|---|---|---|---|---|---|
| funds | funds | funds | |||||||
| 2023 R |
2023f | 2022 | |||||||
| Income | from | charitable | activities | - | Housing | Support | 869,073 | 869,073 | 751,895 |
| Unrestricted | Total | Total | |||
|---|---|---|---|---|---|
| funds | funds | funds | |||
| 2023 | 2023 | 2022 | |||
| Rents received | from NHS | 130,170 | 130,170 | '/27, 006 | |
| Telephone | mast | income | 22,612 | 22,612 | 21,111 |
| Deposit account | interest | 2,971 | 2,971 | 114 | |
| Total 2023 | 155,753 | 155,753 | 148,231 |
| Unrestricted | Restricted | Total | Total | ||
|---|---|---|---|---|---|
| funds | funds | funds | funds | ||
| 2023 | 2023 | 2023f | 2022 | ||
| Housing | Support | 707,987 | 8,674 | 716,661 | 584,379 |
| Corporate | Overheads | 273,331 | 72,415 | 345,746 | 266,862 |
| Total 2023 | 981,318 | 81,089 | 1,062,407 | 851,241 | |
| Total 2022 | 844,774 | 6,467 | 851,241 |
| Activities | |||||
|---|---|---|---|---|---|
| undertaken | Support | Total | Total | ||
| directly | costs | funds | funds | ||
| 2023f | 2023 | 2023f | 2022 | ||
| Housing | Support | 667,966 | 48,695 | 716,661 | 584,379 |
| Corporate | Overheads | 297,517 | 48,229 | 345,746 | 266,862 |
| Total 2023 | 965,483 | 96,924 | 1,062,407 | 851,241 | |
| Total 2022 | 757,450 | 93,791 | 851,241 |
| Housing | General | Total | Total | ||
|---|---|---|---|---|---|
| Support | Needs | funds | funds | ||
| 2023 | 2023 | 2023f | 2022 | ||
| Staff costs | 276,855 | 154,136 | 430,991 | 411,706 | |
| Depreciation | 51,875 | 15,818 | 67,693 | 58,937 | |
| Rent, rates | and water | 93,657 | 93,657 | 99,120 | |
| Insurance | 2,566 | 11,525 | 14,091 | 12,126 | |
| Light and heat | 49,280 | 49,280 | 50,120 | ||
| Property Repairs | 101,163 | 72,415 | 173,578 | 54,904 | |
| Household | and Cleaning | 27,068 | 897 | 27,965 | 22,513 |
| TV Licences | 372 | 372 | 4,159 | ||
| Bad debt write off | 142 | 142 | 3,327 | ||
| Professional | fees | 5,118 | 250 | 5,368 | 581 |
| Mortgage Interest |
59,870 | 42,476 | 102,346 | 39,957 | |
| Total 2023 | 667,966 | 297,517 | 965,483 | 757,450 | |
| Total 2022 | 534,515 | 222,935 | 757,450 |
| Housing | General | Total | Total | |
|---|---|---|---|---|
| Support | Needs | funds | funds | |
| 2023 | 2023 | 2023f | 2022 | |
| Telephone | 3,550 | 4,250 | 7,800 | 8,075 |
| Household and Cleaning |
682 | 682 | 524 | |
| Client Broadband | 8,782 | 8,782 | 8,388 | |
| Sundry expenses | 1,599 | 951 | 2,550 | 2,531 |
| Employee costs | 2,781 | 3,092 | 5,873 | 7,124 |
| Computer costs | 17,105 | 22,426 | 39,531 | 27,123 |
| Bank charges | 461 | 506 | 967 | 761 |
| Auditors' remuneration |
7,200 | 7,200 | 7,800 | |
| Professional fees | 4,967 | 7,517 | 12,484 | 17,213 |
| Travel costs | 2,088 | 2,287 | 4,375 | 4,163 |
| Donations made |
6,680 | 6,680 | 10,089 | |
| Total 2023 | 48,695 | 48,229 | 96,924 | 93,791 |
| Total 2022 | 49,864 | 43,927 | 93,791 |
| Gover | nance costs - Auditors' |
remuneration | ||
|---|---|---|---|---|
| 2023 | 2022f | |||
| Fees | payable to the company's | auditor for the audit ofthe company's | ||
| annual | accounts | 7,200 | 7,200 |
| Staff costs | |||||
|---|---|---|---|---|---|
| 2023 | 2022 | ||||
| Wages and | salaries | 394,066 | 376,495 | ||
| Social security costs | 27,392 | 25,248 | |||
| Contribution | to defined | contribution | pension schemes | 9,533 | 9,963 |
| 430,991 | 411,706 |
| 2023 | 2022 | ||
|---|---|---|---|
| No. | No. | ||
| Total | staff | 20 | 20 |
| Freehold | Fixtures and | Computer | ||
|---|---|---|---|---|
| property | fittings | equipment | Total | |
| F | ||||
| Cost or valuation | ||||
| At 1 April 2022 | 2,998,133 | 64,405 | 10,209 | 3,072,747 |
| Additions | 319,865 | 319,865 | ||
| Impairment ofassets |
(64,575) | (64,575) | ||
| At 31 March 2023 | 3,253,423 | 64,405 | 10,209 | 3,328,037 |
| Depreciation | ||||
| At 1 April 2022 | 64,817 | 64,213 | 10,209 | 139,239 |
| Charge for the year | 67,501 | 192 | 67,693 | |
| At 31 March 2023 | 132,318 | 64,405 | 10,209 | 206,932 |
| Net book value | ||||
| At 31 March 2023 | 3,121,105 | 3,121,105 | ||
| Af 31March 2022 | 2,933,316 | 192 | 2,933,508 |
| 2023 | 2022 | ||
|---|---|---|---|
| Cost | 3,963,891 | 3,647,548 | |
| Accumulated | Depreciation | (79,278) | (545,485) |
| 3,884,613 | 3,102,063 |
| Long term | |
|---|---|
| leasehold | |
| investment | |
| property | |
| Valuation | |
| At 1 April 2022 | 941,380 |
| At 31 March 2023 | 941,380 |
| 2023f | 2022 | ||
|---|---|---|---|
| Due within one year | |||
| Trade debtors | 70,877 | 62,755 | |
| Prepayments | and accrued income | 12,621 | 11,670 |
| 83,498 | 74,425 |
| 2023 | 2022 | |||||||
|---|---|---|---|---|---|---|---|---|
| Bank loans | 207,778 | 210,119 | ||||||
| Trade creditors | 42,925 | 21,420 | ||||||
| Other creditors | 6,974 | 5,683 | ||||||
| Accruals | and deferred | income | 112,912 | 199,446 | ||||
| 370,589 | 436,668 | |||||||
| 2023f | 2022 | |||||||
| Deferred | income at | 1 April | 2022 | 110,738 | 68,460 | |||
| Resources deferred | during | the year | 52,549 | 110,738 | ||||
| Amounts | released | from previous | periods | (110,738) | (68,460) | |||
| 52,549 | 'I10,738 |
| Balance at | ||||||
|---|---|---|---|---|---|---|
| Balance at 1 | Transfers | Gains/ | 31 March | |||
| April 2022 | Income f |
Expenditure | in/out | (Losses) f |
2023 | |
| Unrestricted | ||||||
| funds | ||||||
| Free Reserves | 880,444 | 1,085,086 | (913,625) | (568,216) | 483,689 | |
| Investment | ||||||
| Property | 941,380 | 941,380 | ||||
| Property | ||||||
| Reserve | 2,933,316 | (67,501) | 319,865 | (64,575) | 3,121,105 | |
| Loan Reserve | (2,479,475) | 248,351 | (2,231,124) | |||
| Fixed Asset | ||||||
| Reserve | 192 | (192) | ||||
| 2,275,857 | 1,085,086 | (981,318) | (64,575) | 2,315,050 | ||
| Restricted | ||||||
| funds | ||||||
| Alley Cats | ||||||
| Funding | 3,283 | (1,512) | 1,771 | |||
| Abbey Access | 71,715 | (71,715) | ||||
| Asda Foundation | 1,162 | (1,162) | ||||
| Ashcroft Road | 6,000 | (6,000) | ||||
| Bauer cash for | ||||||
| kids | 700 | (700) | ||||
| 3,283 | 79,577 | (81,089) | 1,771 | |||
| Total offunds | 2,279,140 | 1,164,663 | (1,062,407) | (64,575) | 2,316,821 |
| Statement offu | nds - prior year | |||||
|---|---|---|---|---|---|---|
| Balance at | ||||||
| Balance at | Transfers | Gainsl | 31March | |||
| 1April 2021 | Income | Expenditure | inlout | (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 | 5,750 | (851,241) | (27,471) | 2,279,140 |
| Summary | offunds | - current yea | r | ||||
|---|---|---|---|---|---|---|---|
| Balance at | |||||||
| Balance at 1 | Transfers | Gains/ | 31 March | ||||
| April 2022 | Income f |
Expenditure | in/out | (Losses) f |
2023 | ||
| General funds | 2,275,857 | 1,085,086 | (981,318) | (64,575) | 2,315,050 | ||
| Restricted | funds | 3,283 | 79,577 | (81,089) | 1,771 | ||
| 2,279,140 | 1,164,663 | (1,062,407) | (64,575) | 2,316,821 | |||
| Summary | offunds | - prior year | |||||
| Balance at | |||||||
| Balance at | Transfers | Gainsi | 31March | ||||
| 1 April 2021 | Income | Expenditure | inlout | (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 |
| Analysis Analysis |
of net assets between funds of net assets between funds - current |
year | ||
|---|---|---|---|---|
| Unrestricted | Restricted | Total | ||
| funds | funds | funds | ||
| 2023 | 2023 | 2023 | ||
| Tangible fixed assets | 3,121,105 | 3,121,105 | ||
| Investment | property | 941,380 | 941,380 | |
| Current assets | 646,500 | 1,771 | 648,271 | |
| Creditors | due within one year | (370,589) | (370,589) | |
| Creditors | due in more than one year | (2,023,346) | (2,023,346) | |
| Total | 2,315,050 | 1,771 | 2,316,821 |
| Analysis | of net assets between funds - prior y |
ear | ||
|---|---|---|---|---|
| Unrestricted | Restricted | Total | ||
| funds | funds | funds | ||
| 2022 | 2022 | 2022 | ||
| 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) | |
| Tl | 2,275,857 | 3,283 | 2,279,140 |
| 2023f | 2022 | |||
|---|---|---|---|---|
| Not later than | 1 year | 612 | 612 | |
| Later than | 1 year and not later than 5years | 612 | 1,224 | |
| 1,224 | 1,836 |