| Page | |||
|---|---|---|---|
| Reference and Administrative Details |
|||
| Trustees' Report | 2 | to | 6 |
| Report ofthe Independent Auditors |
7 | to | 9 |
| Statement ofFinancial Activities | 10 | ||
| Balance Sheet | |||
| Cash Flow Statement | 12 | ||
| Notes to the Cash Flow Statement | 13 | ||
| Notes to the Financial Statements | 14 | to | 25 |
| TRUSTEES | N SGreen | |||
|---|---|---|---|---|
| Ms KFreemantle | (resigned 12.8.2021) | |||
| Ms KLearney | ||||
| AJSydney | ||||
| 1Tait | ||||
| EJWells | ||||
| 1M Deans | (appointed 25.2.2021) | |||
| G Rumbell | (appointed 25.2.2021) | |||
| Ms JSamuels (appointed | 25.2.2021) | |||
| JKLander | ||||
| JO'Donovan (appointed |
17.4.2021) | |||
| COMPANY SECRETARY | AD C Simpson | |||
| REGISTERED OFFICE | Highland House |
|||
| Mayflower | Close | |||
| Chandler's | Ford | |||
| Eastleigh | ||||
| Hampshire | ||||
| SO53 4AR | ||||
| REGISTERED COMPANY | 02189380(England and | Wales) | ||
| NUMBER | ||||
| REGISTERED CHARITY | 1061855 | |||
| NUMBER | ||||
| AUDITORS | Hopper Williams | &Bell | Limited | |
| Statutory Auditor | ||||
| Highland House |
||||
| Mayflower | Close | |||
| Chandler's | Ford | |||
| Eastleigh | ||||
| Hampshire | ||||
| SO53 4AR | ||||
| BANKERS | Lloyds Bank pic | |||
| 3-5Bridge | Street | |||
| Newbury | ||||
| Berkshire | ||||
| RG14 5BQ |
| 2021 | 2020 | |||
|---|---|---|---|---|
| Unrestricted | ||||
| funds | Total funds | |||
| Notes | ||||
| INCOME AND ENDOWMENTS FROM | ||||
| Charitable activities |
||||
| Provision ofhousing | 635,477 | 375,913 | ||
| EXPENDITURE ON | ||||
| Charitable activities |
||||
| Provision ofhousing | 592,568 | 283,641 | ||
| Net gains/(losses) on |
investments | (20,000) | (48,558) | |
| NET INCOME | 22,909 | 43,714 | ||
| Other recognised gains/(losses) |
||||
| Gains on revaluation | offixed assets | 260,045 | ||
| Net movement in funds |
282,954 | 43,714 | ||
| RECONCILIATION | OF FUNDS | |||
| Total funds brought | forward | 6,322,256 | 6,278,542 | |
| TOTAL FUNDS CARRIED FORWARD | 6,605,210 | 6,322,256 | ||
| CONTINUING OPERATIONS |
| 2021 | 2020 | ||
|---|---|---|---|
| Total funds | Total funds | ||
| Notes | |||
| FIXEDASSETS | |||
| Tangible assets | 10 | 1,364 | 836 |
| Investments | |||
| Investments | ll | 1 | 1 |
| Social investments | 12 | 7,102,464 | 6,760,919 |
| 7,103,829 | 6,761,756 | ||
| CURRENT ASSETS | |||
| Debtors | 13 | 18,195 | 46,984 |
| Cash at bank | 740,710 | 668,918 | |
| 758,905 | 715,902 | ||
| CREDITORS | |||
| Amounts falling due within one year |
14 | (196,379) | (86,115) |
| NET CURRENT ASSETS | 562,526 | 629,787 | |
| TOTAL ASSETSLESSCURRENT | |||
| LIABILITIES | 7,666,355 | 7,391,543 | |
| CREDITORS | |||
| Amounts falling due after more than one year |
15 | (1,061,145) | (1,069,287) |
| NET ASSETS | 6,605,210 | 6,322,256 | |
| FUNDS | 19 | ||
| Unrestricted funds |
6,605,210 | 6,322,256 | |
| TOTAL FUNDS | 6,605,210 | 6,322,256 |
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Notes | |||||
| Cash flows from operating | activities | ||||
| Cash generated from operations |
269,958 | 104,101 | |||
| Interest paid | (44,927) | (41,485) | |||
| Net cash provided by operating activities |
225,031 | 62,616 | |||
| Cash flows from investing | activities | ||||
| Purchase oftangible fixed assets | (1,076) | (1,114) | |||
| Purchase ofsocial investments | (101,500) | ||||
| Sale offixed asset investments | (37,308) | ||||
| Sale ofsocial investments | 101,058 | ||||
| Net cash (used in)/provided | by investing | activities | (102,576) | 62,636 | |
| Cash flows from financing | activities | ||||
| Loan repayments in year |
(50,663) | (56,671) | |||
| Net cash used in financing | activities | (50,663) | (56,671) | ||
| Change in cash and cash | equivalents | in | |||
| the reporting period |
71,792 | 68,581 | |||
| Cash and cash equivalents | at the | ||||
| beginning ofthe reporting |
period | 668,918 | 600,337 | ||
| Cash and cash equivalents | at the end | of | |||
| the reporting period |
740,710 | 668,918 |
| 1. | RECONCILIATION | RECONCILIATION | RECONCILIATION | OF NET INCOME TO NET CASH FLOW FROM | OF NET INCOME TO NET CASH FLOW FROM | OPERATING ACTIVITIES | OPERATING ACTIVITIES |
|---|---|---|---|---|---|---|---|
| 2021 | 2020 | ||||||
| Net income for the | reporting | period (as per the Statement ofFinancial | |||||
| Activities) | 22,909 | 43,714 | |||||
| Adjustments | for: | ||||||
| Depreciation | charges | 548 | 476 | ||||
| Losses on investments | 20,000 | 48,558 | |||||
| Interest paid | 44,927 | 41,485 | |||||
| Finance costs | 50,774 | ||||||
| Decrease/(increase) | in debtors | 28,789 | (39,123) | ||||
| Increase in creditors | 102,011 | 8,991 | |||||
| Net cash provided | by | operations | 269,958 | 104,101 | |||
| 2. | ANALYSIS | OF CHANGES IN NET DEBT | |||||
| At 1.10.20 | Cash flow | At 30.9.21 | |||||
| Net cash | |||||||
| Cash at bank | 668,918 | 71,792 | 740,710 | ||||
| 668,918 | 71,792 | 740,710 | |||||
| Debt | |||||||
| Debts falling | due within | 1 year | (50,616) | (8,253) | (58,869) | ||
| Debts falling | due after | 1 year | (1,069,287) | 8,142 | (1,061,145) | ||
| (1,119,903) | (111) | (1,120,014) | |||||
| Total | (450,985) | 71,681 | (379,304) |
| 2. | INCOME FRO | M CHARITABLE ACTIVITIES | |||
|---|---|---|---|---|---|
| 2021 | 2020 | ||||
| Provision | Total | ||||
| ofhousing | activities | ||||
| Property rental income | 635,477 | 375,913 | |||
| 3. | CHARITABLE | ACTIVITIES COSTS | |||
| Direct | Support | ||||
| Costs (see | costs (see | ||||
| note 4) | note 5) | Totals | |||
| Provision ofhousing | 585,428 | 7,140 | 592,568 | ||
| 4. | DIRECT COSTS OF CHARITABLE ACTIVITIES | ||||
| 2021 | 2020 | ||||
| Staffcosts | 129,634 | 119,327 | |||
| Insurance | 14,191 | 8,162 | |||
| Postage and stationery | 552 | 613 | |||
| Sundries | 1,502 | 1,012 | |||
| Repairs and maintenance | 90,146 | 69,999 | |||
| Office expenses | 8,307 | 9,444 | |||
| Subscriptions | 4,810 | ||||
| Travel and subsistence | 3371 | 1,356 | |||
| Legal fees | 68,322 | 10,759 | |||
| Rent and rates | 2,155 | 7,288 | |||
| Lease charges to | Rentplus | 170,999 | |||
| Loan arrangement | fee (Lloyds bank) | 50,774 | |||
| Depreciation | 548 | 476 | |||
| Interest payable | and similar charges | 44,927 | 41,485 | ||
| 585,428 | 274,731 |
| Governance | ||||
|---|---|---|---|---|
| costs | ||||
| Provision | ofhousing | 7,140 | ||
| Support | costs, included | in the above, are as follows: | ||
| 2021 | 2020 | |||
| Provision | Total | |||
| ofhousing | activities | |||
| Auditors' | remuneration | 4,950 | 6,000 | |
| Auditors' | remuneration | for non audit work | 2,190 | 2,910 |
| 7,140 | 8,910 | |||
| NET INCOME/(EXPENDITURE) | ||||
| Net income/(expenditure) | is stated after charging/(crediting): | |||
| 2021 | 2020 | |||
| Auditors' | remuneration | 4,950 | 6,000 | |
| Auditors' | remuneration | for non audit work | 2,190 | 2,910 |
| Depreciation - owned assets |
548 | 475 |
| STAFF COSTS | ||||
|---|---|---|---|---|
| 2021 | 2020 | |||
| Wages and salaries | 116,679 | 107,534 | ||
| Social security costs | 7,942 | 6,719 | ||
| Other pension costs | 5,013 | 5,074 | ||
| 129,634 | 119,327 | |||
| The average monthly | number ofemployees | during the year was as follows: | ||
| 2021 | 2020 | |||
| Charitable activities |
3 | 3 |
| 8. | STAFF COSTS - continued | STAFF COSTS - continued | |||||
|---|---|---|---|---|---|---|---|
| The number ofemployees | whose employee benefits | (excluding | employer | pension costs) | exceeded | f60,000was: | |
| 2021 | 2020 | ||||||
| f60,001 —f70,000 | 1 | 1 | |||||
| The total employee benefits ofthe key management | personnel | ofthe charity were F74,258 (2020 - 674,273). | |||||
| 9. | COMPARATIVES FOR | THE STATEMENT OF FINANCIAL ACTIVITIES | |||||
| Unrestricted | |||||||
| funds | |||||||
| INCOME AND ENDOWMENTS FROM | |||||||
| Charitable activities |
|||||||
| Provision ofhousing | 375,913 | ||||||
| EXPENDITURE ON | |||||||
| Charitable activities |
|||||||
| Provision ofhousing | 283,641 | ||||||
| Net gains/(losses) on investments |
(48,558) | ||||||
| NET INCOME | 43,714 | ||||||
| RECONCILIATION OF |
FUNDS | ||||||
| Total funds brought forward |
6,278,542 | ||||||
| TOTAL FUNDS CARRIED FORWARD | 6,322,256 |
| 10. | TANGIBLE FIXEDASSETS | |
|---|---|---|
| Fixtures | ||
| and | ||
| fittings | ||
| COST | ||
| At 1 October 2020 | 10,773 | |
| Additions | 1,076 | |
| At 30 September 2021 | 11,849 | |
| DEPRECIATION | ||
| At 1 October 2020 | 9,937 | |
| Charge for year | 548 | |
| At 30 September 2021 | 10,485 | |
| NET BOOK VALUE | ||
| At 30 September 2021 | 1,364 | |
| At 30 September 2020 | 836 | |
| 11. | FIXEDASSETINVESTMENTS | |
| Shares in | ||
| group | ||
| undertakings | ||
| COST | ||
| At 1 October 2020 and 30 September 2021 | ||
| NET BOOK VALUE | ||
| At 30 September 2021 | ||
| At 30 September 2020 |
| SOCIAL INVESTMENTS | |
|---|---|
| Land and | |
| buildings | |
| MARKET VALUE | |
| At I October 2020 | 6,760,919 |
| Additions | 101,500 |
| Revaluations | 260,045 |
| Impairments | (20,000) |
| At 30 September 2021 | 7,102,464 |
| NET BOOK VALUE | |
| At 30 September 2021 | 7,102,464 |
| At 30 September 2020 | 6,760,919 |
| Land and | |||
|---|---|---|---|
| buildings | |||
| Valuation | in | 2021 | 240,045 |
| Valuation | in | 2017 | 3,440,340 |
| Cost | 3,422,079 | ||
| 7,102,464 |
| 13. | DEBTORS:AMOUNTS | FALLING DUE WITHIN ONE YEAR | ||
|---|---|---|---|---|
| 2021 | 2020 | |||
| Trade debtors | 14,916 | 7,101 | ||
| Other debtors | 1,289 | |||
| Prepayments and accrued |
income | 3,279 | 38,594 | |
| 18,195 | 46,984 | |||
| 14. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 2021 | 2020 | |||
| Bank loans and overdrafts | (see note 16) | 58,S69 | 50,616 | |
| Trade creditors | 92,013 | 12,234 | ||
| Social security and other taxes | 2,160 | |||
| Other creditors | 10,284 | 9,869 | ||
| Accruals and deferred income | 33,053 | 13,396 | ||
| 196,379 | 86,115 | |||
| 15. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | |||
| 2021 | 2020 | |||
| Bank loans (see note 16) | 1,061,145 | 1,069,287 | ||
| 16. | LOANS | |||
| An analysis ofthe maturity | ofloans is given below: | |||
| 2021 | 2020 | |||
| Amounts falling due within one year on demand: |
||||
| Bank loans | 58,869 | 50,616 | ||
| Amounts falling due between two and five years: |
||||
| Bank loans - 2-5 years | 256,838 | 225,939 | ||
| Amounts falling due in more than five years: |
||||
| Repayable by instalments: | ||||
| Bank loans greater than 5 | years | S04,307 | 843,348 |
| 2021 | 2020 | |
|---|---|---|
| Within one year | 8,0S5 | |
| Between one and five years | 30,950 | |
| In more than five years | 52,101 | |
| 91,136 |
| 2021 | 2020 | ||
|---|---|---|---|
| Bank | loans | 1,120,014 | 1,119,903 |
| MOVEMEN | T IN FUNDS | |||
|---|---|---|---|---|
| Net | ||||
| movement | ||||
| At 1.10.20 | in funds | At 30.9.21 | ||
| Unrestricted | funds | |||
| General fund | 2,881,916 | 22,909 | 2,904,825 | |
| Revaluation | Reserve | 3,440,340 | 260,045 | 3,700,3S5 |
| 6,322,256 | 282,954 | 6,605,210 | ||
| TOTAL FUNDS | 6,322,256 | 282,954 | 6,605,210 |
| Incoming | Resources | Gains and | Movement | ||
|---|---|---|---|---|---|
| resources | expended | losses | in funds | ||
| Unrestricted | funds | ||||
| General fund | 635,477 | (592,568) | (20,000) | 22,909 | |
| Revaluation | Reserve | 260,045 | 260,045 | ||
| 635,477 | (592,568) | 240,045 | 282,954 | ||
| TOTAL FUNDS | 635,477 | (592,568) | 240,045 | 282,954 |
| Net | Transfers | ||||
|---|---|---|---|---|---|
| movement | between | ||||
| At 1.10.19 | in funds | funds | At 30.9.20 | ||
| Unrestricted | funds | ||||
| General fund | 2,819,040 | 43,714 | 19,162 | 2,881,916 | |
| Revaluation | Reserve | 3,459,502 | (19,162) | 3,440,340 | |
| 6,278,542 | 43,714 | 6,322,256 | |||
| TOTAL FUNDS | 6,278,542 | 43,714 | 6,322,256 |
| Incoming | Resources | Gains and | Movement | ||
|---|---|---|---|---|---|
| resources | expended | losses | in funds | ||
| Unrestricted | funds | ||||
| General fund | 375,913 | (283,641) | (48,558) | 43,714 | |
| TOTAL FUNDS | 375,913 | (283,641) | (48,558) | 43,714 |