##
|CONTENTS|||
|---|---|---|
|||Page|
|Reference and Administrative|details||
|Report ofthe Trustees||2-11|
|Independent
Auditor Report||12-14|
|Income and Expenditure
Account||15|
|Statement
of Financial Activities||16|
|Ralance Sheet||17|
|Statement ofCash Flows||18|
|Notes to the Financial Statements||19-36|
##
##
##
||||||||
|---|---|---|---|---|---|---|
|STATUS|||A Company
Limited by|Guarantee,|Registered|Provider ofSocial|
||||Housing
and Registered|Charity.|||
|DIRECTORS (who are also Trustees)|||M A Gordon (Chair)||||
||||H M Wigglesworth||||
||||RI Swainson
(resigned|—September|2019)||
||||DJ Ayling (resigned —March 2020)||||
||||D Connor (resigned —September 2020)||||
||||TJ Penter (Treasurer)||||
||||N G White (resigned —September 2019)||||
||||A JWalker||||
||||J L Robinson||||
||||E0 Mills||||
||||SJ Bradley||||
||||K M Brierley (appointed|—September 2019)|||
||||J P Smith (appointed
—March 2020)||||
||||J L Davies (appointed
—September||2020)||
|SECRETARY|||E0 Mills||||
|SENIOR MANAGEMENT|TEAM||G H Sewell (Chief Executive Officer)||||
||||A M Armstrong
(Director of Finance)||||
||||J Lunn (Director of HR)||||
||||C A Gillespie (Head of Housing)||||
||||J Hodder (Head ofTraining
and Education)||||
||||G Harrison
(Head ofIncome Generation)||||
|REGISTERED OFFICE|||770 London
Road||||
||||Wilmorton,
Derby, DE24 BUT||||
|COMPANY REGISTRATION NUMBER|||3061837(England
and|Wales)|||
|REGISTERED CHARITY NUMBER|||1049904||||
|REGULATOR OF SOCIAL|HOUSING|REFERENCE|H4085||||
|AUDITOR|||Mazars
LLP||||
||||Park View House||||
||||58The Ropewalk||||
||||Nottingham,
NG1SDW||||
|BANKERS|||National
Westminster|Bank pic|||
||||7Market Place, Derby,|DE13ZF|||
|SOLICITORS|||Anthony
Collins LLP||||
||||134Edmund Street, Birmingham, 832ES||||
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|||||||Year to July|Yearto July|
|---|---|---|---|---|---|---|---|
|||||||2020|2019|
|||||||Total|Total|
||||||Notes|f||
|Income|||||3|3,583,397|3,251,905|
|Operating|Costs|||||(3,386,086)|(3,056,534)|
|Operating|surplus/(deficit)||||5|197,311|195,371|
|Interest receivable||||||849|436|
|Interest payable|||||7|(16,518)|(16,979)|
|Surplus/(deficit)||on|ordinary|activities for the||||
|year||||||181,642|178,828|
|Other comprehensive|||income|||||
|||||||181,642|178,828|
##
|||||||2020|2019|
|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Total|Total|
||||Notes|funds|funds|funds|funds|
|||||E|E|f|E|
|INCOME||||||||
|Donations
and legacies||||70,233||70,233|92,204|
|Income from charitable|activities|||||||
|Housing &Support||||2,370,339|357,918|2,728,257|2,288,926|
|Training and Education||||521,790|23,808|545,598|629,803|
|Children's
Services||||131,790||131,790|141,615|
|Other||||42,088||42,088|20,505|
|Income from other trading||activities||||||
|Commercial
trading activities||||64,582||64,582|78,852|
|Investment
income||||849||849|436|
|Total incoming resources|||3|3,201,671|381,726|3,583,397|3,252,341|
|Expenditure||||||||
|Costs ofraising funds||||||||
|Fundraising
costs||||45,178||45,178|68,915|
|Costs ofother trading activities||||74,225||74,225|79,274|
|Charitable
activities||||||||
|Housing &Support||||2,313,720|290,510|2,604,230|2,163,496|
|Training
and Education||||551,857|10,422|562,279|622,837|
|Children's
Services||||115,843||115,843|138,991|
|Total resources expended|||4|3,100,823|300,932|3,401,755|3,073,513|
|Net income/(expenditure)||before||||||
|transfers||||100,848|80,794|181,642|178,828|
|Gross transfers
between|funds|||6,722|(6,722)|||
|Net income/(expenditure)||before other||||||
|recognised gains and losses||||107,570|74,072|181,642|178,828|
|Other recognised
gains and||losses||||||
|Net movement
in funds||||107,570|74,072|181,642|178,828|
|RECONCILIATION
OF FUNDS||||||||
|Total funds brought forward||||2,818,427|26,863|2,845,290|2,666,462|
|TOTAL FUNDS CARRIED FORWARD||||2,925,997|100,935|3,026,932|2,845,290|
##
##
||||At 31stJuly|2020||||
|---|---|---|---|---|---|---|---|
|||||||2020|2019|
||||Unrestricted|Restricted||Total|Total|
|||Notes|funds|funds||funds|funds|
|||||f||f|f|
|FIXEDASSETS||||||||
|Tangible assets||8|3,102,668||450|3,103,118|3,110,858|
|CURRENT ASSETS||||||||
|Stocks|||3,698|||3,698|2,015|
|Debtors||9|379,483|||379,483|413,156|
|Cash at bank and|in hand||545,752|124|700|670452|456886|
||||928,933|124,700||1,053,633|872,057|
|CREDITORS||||||||
|Amounts
falling due within one year||10|(449,254)|(24,215)||(473,469)|(446,123)|
|NET CURRENT ASSETS|||479,679|100,485||580,164|425,934|
|TOTAL ASSETS LESSCURRENT||||||||
|LIABILITIES|||3,582,347|100,935||3,683,282|3,536,793|
|CREDITORS||||||||
|Amounts
falling due after more than||||||||
|one year||11|(656,350)|||(656,350)|(691,503)|
|NET ASSETS|||2.92 .99|||3,026,932|2,845,290|
|FUNDS||||||||
|Unrestricted
funds||||||2,925,997|2,818,427|
|Restricted
Reserves
TOTAL FUNDS||12||||100,935
3.923,932|26,863
2.3,292|
##
##
|||Statement ofCash Flows|Statement ofCash Flows|Statement ofCash Flows|||
|---|---|---|---|---|---|---|
|||Year ended 31stjuly 2020|||||
|||||Year ended||Year ended|
|||Notes|31st July 2020||31st )uly 2019||
||||E|E|E|E|
|Cash provided
by operating
activities||14||363,975||340,864|
|Cash flows from investing|activities||||||
|Interest income||||849||436|
|Receipts from the sale|oftangible||||||
|fixed assets
Purchase oftangible
fixed assets|||~399|291|~95|795|
|Cash used
in investing|activities|||(99,432)||(95,269)|
|Cash flows from financing|activities||||||
|Interest
paid
Repayment
of borrowings|||(16,518)
~34 459||(16,979)
~34 421||
|Cash used
in financing|activities|||(50,977)||(51,400)|
|Increase/(decrease)
in cash and cash|||||||
|equivalents
in the year||||213,566||194,195|
|Cash and cash equivalents
at the|||||||
|beginning
ofthe year||||456,886||262,691|
|Total cash and cash equivalents
at the|||||||
|end ofthe year||||670,452||4ss,see|
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|Particulars of i|ncome|from so|cial||ousing
lettings||||
|---|---|---|---|---|---|---|---|---|
|||||||Year|to 31stJuly 2020||
||||||Turnover||Operating|Operating|
||||||||costs|surplus|
||||||||f|f|
|Social housing|lettings (note 2.2)|||||2,269,190|(2,235,477)|33,713|
|Other social housing||activities|||||||
|||||||2,269,190|(2,235,477)|33,713|
|Activities other|than|social housing|||activities|1,314,207|(1,166,278)|144,528|
|||||||3,583,397|(3,401,755)|181,642|
|||||||Year|to 31stJuly 2019||
||||||Turnover||Operating|Operating|
||||||||costs|surplus|
|||||||E|E|E|
|Social housing|lettings (note 2.2)|||||1,741,989|(1,642,347)|99,642|
|Other social housing||activities|||||||
|||||||1,741,989|(1,642,347)|99,642|
|Activities other|than|social housing|||activities|1,510,352|(1,431,166)|79,186|
|||||||3,252,341|(3,073,513)|178,828|
|Particulars
ofincome||&expenditure|||from social housing|lettings|||
||||||||2020|2019|
||||||||E|E|
|Rent receivable|net ofidentifiable||||service charges||987,098|714,215|
|Service charges|receivable||||||1,282,092|1,027,774|
|Gross rents receivable|||||||2,269,190|1,741,989|
|Turnover from|social|housing|lettings||||2,269,190|1,741,989|
|Management|||||||1,121,255|748,188|
|Rent payable|||||||244,845|148,742|
|Services|||||||210,614|147,517|
|Routine Maintenance|||||||164,100|113,954|
|Bad Debts (Rent Losses)|||||||37,081|50,611|
|Depreciation|||||||74,838|66,610|
|Other Costs|||||||382,744|366,725|
|Operating
costs on social housing||||lettings|||2,235,477|1,642,347|
|Operating
surplus
on social housing|||||lettings||33,713|99,642|
|Rent losses from voids|||||||(308,978)|(147,990)|
##
|At 1stAugust 2019|159|
|---|---|
|Additions|29|
|Disposals||
|At 31stJuly 2020|188|
##
|Incoming resources were|derived|1009ofrom|1009ofrom|within the United|Kingdom (2019:100%),|Kingdom (2019:100%),||
|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|2020|2019|
|||||E|E|f|f|
|Incoming resources from generated|||Funds:|||||
|Voluntary income:||||||||
|-Donations
and gifts||||||||
|Sleepeasy||||35,000||35,000|42,000|
|Other Donations||||35,233||35,233|50,204|
|Activities for generating|funds:|||||||
|-Hospitality
income||||64,582||64,582|78,852|
|-Investment
income||||849||849|436|
|Incoming resources from charitable||||||||
|Activities:||||||||
|-Supported
housing||||||||
|Turnover from lettings||||2,269,190||2,269,190|1,741,989|
|BBOgrants|||||170,240|170,240|170,350|
|Support work||||101,149|187,678|288,827|376,587|
|-Learning
& development||||||||
|ESFA contract (inc Bursary fund)||||411,035|23,808|434,843|512,002|
|Alternative
Provision|- Derby|||43,185||43,185|70,274|
|Alternative
Provision|- llkeston|||20,541||20,541|23,928|
|Other training
course|income|||47,029||47,029|23,600|
|—Children
& Young People's Services||||131,790||131,790|141,615|
|-Other||||42,088||42,088|20,505|
|Total Incoming Resources||||3,201,671|381,726|3,583,397|3,252,341|
##
||||||Direct
Staff Costs|Other
direct|Support
costs|Tota I2020|Total
2019|
|---|---|---|---|---|---|---|---|---|---|
|||||||costs||||
|||||||E||||
|Charitable||Activities||||||||
|Housing|IL|Support|||790,554|1,273,466|540,210|2,604,230|2,163,496|
|Training|and Education||||316,462|198,801|47,016|562,279|622,837|
|Children|and Young People||||85,912|18,574|11,357|115,843|138,991|
|Non Charitable|||Activities|||||||
|Fundraising|||||26,548|12,578|6,052|45,178|68,915|
|Costs of|other||trading|activities|35,185|33,474|5,566|74,225|79,274|
|Total Costs|||||1,254,661|1,536,893|610,201|3,401,755|3,073,513|
##
##
|||||2020|2019|
|---|---|---|---|---|---|
|||||6|E|
|Auditor remuneration|||- in their capacity as auditor|10,200|9,900|
|Depreciation|oftangible fixed assets (owned by the company)|||108,021|106,273|
|Rent losses|from|bad|debts|37,081|50,611|
|Operating
leases:||Land and Buildings||307,745|218,755|
##
|Employee|Numbers|2020|2019|
|---|---|---|---|
|Fundraising|Activities|3|2|
|Charitable|Activities|87|84|
|Management||6|6|
|||96|92|
|||2020|2019|
|Employee|Costs|6|6|
|Wages and|Salaries|1,681,526|1,546,674|
|SocialSecurity Costs||122,934|109,710|
|Pension Costs||113,110|84,573|
|||1,917,570|1,739,957|
##
|f60,000|(exclusive of pension
and national
insuran|ce
contributions)
in the year (in the fo|llowing|
|---|---|---|---|
|||2020|2019|
|E60,001|- E70,000|1|1|
|E70,001|- E80,000|1|1|
##
|2020|2019|
|---|---|
|f|E|
|16,518|16,979|
##
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##
|||||1stAugust||||31stJuly|
|---|---|---|---|---|---|---|---|---|
|||||2019|Additions|Disposals|Revaluations|2020|
|||||f|f|f|f|f|
|COST OR|VALUATION||||||||
|Freehold|property||(Social Housing)|2,254,000||||2,254,000|
|Freehold|property||(Non Housing)|650,000||||650,000|
|Net cost|offreehold||property|2,904,000||||2,904,000|
|Motor vehicles||||38,690|5,750|||44,440|
|Computer|equipment|||305,532|35,911|||341,443|
|Fixtures and fittings||||435,264|58,620|||493,885|
|||||3,683,486|100,281|||3,783,768|
|DEPRECIATION|||||||||
|Motor vehicles||||26,924|5,589|||32,513|
|Computer|equipment|||256,956|38,962|||295,918|
|Fixtures and fittings||||288,748|63,471|||352,219|
|||||572,628|108,022|||680,650|
|NET BOOK VALUE|||||||||
|Freehold|property||(Social Housing)|2,254,000||||2,254,000|
|Freehold|Property|(Non Housing)||650,000||||650,000|
|Motor vehicles||||11,766||||11,927|
|Computer|equipment|||48,576||||45,525|
|Fixtures and fittings||||146,516||||141,666|
|||||3,110,858||||3,103,118|
##
##
||||||||||2020|2019|
|---|---|---|---|---|---|---|---|---|---|---|
||||||||||f|f|
|Bank Loan|||||||||37,335|36,640|
|Trade Creditors|||||||||148,652|163,137|
|Taxation and Social Security|||||||||36,154|34,395|
|Other Creditors|||||||||249|261|
|Accruals|||||||||118,867|120,621|
|Deferred income|||||||||132,213|91,069|
||||||||||473,469|446,123|
|For details ofsecurity||provided|||for the bank loan see Note 11,||||||
|The deferred
income||movement|||is as follows:-||||||
||||||||||2020|2019|
||||||||||f|f|
|Deferred income|at 1August 2019||||||||91,069|81,895|
|Released to income||during||the|year||||(91,069)|(81,895)|
|Income received|in the||current||year deferred||||132,213|91,069|
|Deferred income|at 31||July|2020|||||132,213|91,069|
|.CREDITORS: AMOUNTS|||FALLING DUE AFTER MORE THAN ONE||||YEAR||||
||||||||||2020|2019|
||||||||||f|f|
|Bank Loan|||||||||656,35D|661,5D3|
|The Bank Loan is|secured
by a||||first legal charge over the freehold|||land|and buildings
at 770 London||
|Road, Derby and|represents|||30%of the value of the charged|||property.||Interest
is charged|on the|
|Bank Loan at a rate of1.5%||||over base rate.|||||||
|The Bank Loan is repayable||||in instalments||as follows:|||||
||||||||||2020|2019|
||||||||||f|f|
|In the next year|||||||||37,335|36,640|
|Between one and|two years||||||||38,009|37,300|
|Between two and|five|years|||||||117,799|115,588|
|Over five years|||||||||500,542|538,615|
||||||||||693,684|728,143|
##
##
|||||At 1st
August|Net||At 31July|
|---|---|---|---|---|---|---|---|
|||||2019|Movement|Transfers|2020|
|||||f|f||f|
|Unrestricted
funds:||||||||
|General reserve||||2,191,610|122,159|257|2,314,026|
|Designated
funds||||||||
|Planned
Periodic Maintenance||||194,191|(8,340)|30,000|215,851|
|Revaluation
reserve||||18,774|||18,774|
|Residents
Fund||||560|(1,453)|1,000|107|
|Learners
Fund||||356|(1,053)|1,000|303|
|Campus
New Build Fund||||400,936||(36,000)|364,936|
|Strategic Development|Fund|||12,000|(10,465)|10,465|12,000|
|Total designated
funds||||626,817|(21,311)|6,465|611,971|
|Total unrestricted
funds||||2,818,427|100,848|6,722|2,925,997|
|Restricted funds:||||||||
|Support and Training grants||||||||
|Children
in Need||||||||
|Foyer Federation||||514|(514)|||
|Reaching Communities|||||0|||
|Paul Hamlyn
Foundation||||10,000|(10,000)|||
|Building Better Opportunities||||||||
|Big Lottery - Community|Connector|||||||
|Mount Cook Ltd||||680|(680)|||
|Charitable
Trust ofToyota||UK||2,000|(306)||1,694|
|Society ofMotor Manufacturers||||2,000|(1,502)||498|
|Homeless
Link Covid Grant|||||19,938||19,938|
|Paul Hamlyn
Foundation|Covid||Grant||14,120||14,120|
|Foundation
Derbyshire|Covid Grant||||29,212||29,212|
|Morrisons
Covid Grant|||||3,446||3,446|
|NationalLottery
Covid Grant|||||13,910||13,910|
|Asda Covid Grant|||||348||348|
|Foundation
Derbyshire|Covid Grant|||||||
|Foundation
Derbyshire|Move on||||2,000||2,000|
|Duke of Devonshire
Charitable|||Trust||2,500||2,500|
|Other Funds:||||||||
|Derbyshire
Manor Fund||||2,154|(2,154)|||
|Derbyshire
County Council||||1,350|(1,350)|||
|Digital Growth
Fund||||2,010|(1,560)||450|
|EFA Bursary Fund||||6,155|13,386|(6,722)|12,819|
|Total restricted
funds||||26,863|80,794|(6,722)|100,935|
|Total funds||||2,845,290|181,642||3,026,932|
##
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##
||||||Other||
|---|---|---|---|---|---|---|
||||||recognised|Net|
||||Incoming|Outgoing|Gains & Losses|Movement|
||||f'000|f'000|f'000|f'000|
|Unrestricted
funds:|||||||
|General reserve|||3,201,509|(3,079,350)||122,159|
|Designated
funds|||||||
|Planned
Periodic Maintenance||||(8,340)||(8,340)|
|Revalution
reserve|||||||
|Residents
Fund|||162|(1,615)||(1,453)|
|Learners
Fund||||(1,053)||(1,053)|
|Campus
New Build Fund|||||||
|Strategic Development|Fund|||(10,465)||(10,465)|
|Total designated
funds|||162|(21,473)||(21,311)|
|Total unrestricted
funds|||3,201,671|(3,100,823)||100,848|
|Restricted funds:|||||||
|Support and Training grants|||||||
|Children
in Need|||17,094|(17,094)|||
|Foyer Federation|||750|(1,264)||(514)|
|Reaching Communities|||23,673|(23,673)||0|
|Paul Hamlyn
Foundation||||(10,000)||(10,000)|
|Building Better Opportunities|||170,240|(170,240)|||
|Big Lottery - Community|Connector||40,704|(40,704)|||
|Mount Cook Ltd||||(680)||(680)|
|Charitable
Trust ofToyota UK|||2,000|(2,306)||(306)|
|Society ofMotor Manufacturers|||2,000|(3,502)||(1,502)|
|Homeless
Link Covid Grant|||30,000|(10,062)||19,938|
|Paul Hamlyn
Foundation|Covid|Grant|15,000|(880)||14,120|
|Foundation
Derbyshire|Covid Grant||31,949|(2,737)||29,212|
|Morrisons
Covid Grant|||4,750|(1,304)||3,446|
|National
Lottery Covid Grant|||13,910|||13,910|
|Asda Covid Grant|||348|||348|
|Foundation
Derbyshire|Covid Grant||1,000|(1,000)|||
|Foundation
Derbyshire|Move on||2,000|||2,000|
|Duke of Devonshire
Charitable||Trust|2,500|||2,500|
|Other Funds:|||||||
|Derbyshire
Manor Fund||||(2,154)||(2,154)|
|Derbyshire
County Council||||(1,350)||(1,350)|
|Digital Growth
Fund||||(1,560)||(1,560)|
|fFA Bursary Grant|||23,808|(10,422)||13,386|
|Total restricted
funds|||381,726|(300,932)||80,794|
|Total funds|||3,583,397|(3,401,755)||181,642|
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|||||Fixed|Net current|Long term|Total|Total|
|---|---|---|---|---|---|---|---|---|
|||||Assets|Assets|Liabilities|2020|2019|
|||||f|f|f|f|f|
|Restricted funds|||||||||
|Foyer Federation||||||||514|
|Paul Hamlyn
Foundation||||||||10,000|
|Mount Cook Ltd||||||||680|
|Charitable
Trust ofToyota||UK|||1,694||1,694|2,000|
|Society ofMotor Manufacturers|||||498||498|2,000|
|Digital Growth
Fund||||450|||450|2,010|
|Derbyshire
County Council||||||||1,350|
|Derbyshire
Manor Fund||||||||2,154|
|EFA Bursary Fund|||||12,819||12,819|6,155|
|Homeless
Link Covid Grant|||||19,938||19,938||
|Paul Hamlyn
Foundation|Covid||Grant||14,120||14,120||
|Foundation
Derbyshire|Covid Grant||||29,212||29,212||
|Morrisons
Covid Grant|||||3,446||3,446||
|National
Lottery Covid Grant|||||13,910||13,910||
|Asda Covid Grant|||||348||348||
|Foundation
Derbyshire|Move on||||2,000||2,000||
|Duke of Devonshire
Charitable|||Trust||2,500||2,500||
|Total restricted funds||||450|100,485||100,935|26,863|
|Designated
funds|||||||||
|Planned
Periodic Maintenance|||||215,851||215,851|194,791|
|Revaluation
reserve||||18,774|||18,774|18,774|
|Residents
Fund|||||107||107|560|
|Learner Fund|||||303||303|356|
|Campus
New Build Fund||||364,936|||364,936|400,936|
|Strategic Development|Fund||||12,000||12,000|12,000|
|Total designated
funds||||383,710|228,261||611,971|626,818|
|General reserve||||2,718,958|251,418|(656,350)|2,314,026|2,191,610|
|Total unrestricted
funds||||3,102,668|479,679|(656,350)|2,925,997|2,818,427|
|Total funds||||3,103,118|580,164|(656,350)|3,026,932|2,845,290|
|||||2020|2019|
|---|---|---|---|---|---|
|||||f|6|
|Operating
surplus/(deficit)||||181,642|178,828|
|Add back||||||
|Depreciation|charges|||108,021|106,273|
|Net interest|paid/(received)|||15,669|16,543|
|(Profit)/loss|ofsale of|fixed assets||||
|Movement
in working||capital||58,643|39,220|
|Cash provided|by operating||activities|363,975|340,864|
##
##
##
||||Land 5|Other|Land &|Other|
|---|---|---|---|---|---|---|
||||Buildings||Buildings||
||||2020|2020|2019|2019|
||||E|E|E|f|
|Operating||leases expense:|||||
|Within|1|year|230,104||182,430||
|Within|2|to 5years|305,180||145,370||
|Over 5|years||||||
||||535,284||327,800||
##
##
|Connected|person|Details oftransaction||Income/||Debtor/|
|---|---|---|---|---|---|---|
|||||(Expenditure)|in|(Creditor) at 31st|
|||||the period||July 2020|
|||||E||E|
|Mrs H M Wigglesworth||Lease re 118Osmaston|Road|(8,400)|||