| Page | |||
|---|---|---|---|
| Reference and Administrative Details |
|||
| Chair's Report | 2 | to | 3 |
| Chief Executive's Report | 4 | to | 5 |
| Trustees' Report | 6 | to | 9 |
| Report ofthe Independent Auditors |
10 | to | 12 |
| Statement ofFinancial Activities | 13 | ||
| Balance Sheet | 14 | to | 15 |
| Cash Flow Statement | 16 | ||
| Notes to the Cash Flow Statement | 17 | ||
| Notes to the Financial Statements | 18 | to | 31 |
| Detailed Statement ofFinaucial Activities | 32 | to | 33 |
| TRUSTEES | Mr N SGreen | ||
|---|---|---|---|
| Councillor KLearney (resigned 24.5.2022) | |||
| Mr AJSydney | |||
| Mr ITait | |||
| Mr EJWells (resigned 31.8.2022) | |||
| Mr IM Deans | |||
| Mr G Rumbell | |||
| Ms J Samuels | |||
| Mr JKLander | |||
| Mr JOTJonovan | |||
| Councillor P W Ferguson |
(appointed 4.7.2022) | ||
| COMPANY SECRETARY | Mr AD C Simpson |
||
| REGISTERED OFFICE | Highland House |
||
| Mayflower Close |
|||
| Chandler's Ford |
|||
| Eastteigh | |||
| Hampshire | |||
| S0534AR | |||
| REGISTERED COMPANY NUMBER | 02189380(England | and | Wales) |
| REGISTERED CHARITY NUMBER | 1061855 | ||
| AUDITORS | Hopper Williams & | Bell | Limited |
| Statutory Auditor | |||
| Highland House |
|||
| Mayflower Close |
|||
| Chandler's Ford |
|||
| Eastteigh | |||
| Hampshire | |||
| S0534AR | |||
| Handelsbanken | |||
| 1 Crown Walk | |||
| Jewry Sheet | |||
| Winchester | |||
| Hampshire | |||
| SO23 8BB |
| 2022 | 2021 | |||
|---|---|---|---|---|
| Unrestricted | ||||
| funds | Total funds | |||
| Notes | ||||
| INCOME AND ENDOWMENTS FROM | ||||
| Charitable activities |
||||
| Pmvision ofhousing | 1,190,230 | 635,477 | ||
| EXPENDITURE ON | ||||
| Charitable activifies |
||||
| Pmvision ofhousing | 1,014)438 | 592,568 | ||
| Net gains/(losses) on investments |
(I) | (20,000) | ||
| NET INCOME | 175,791 | 22,909 | ||
| Other recognised gains/posses) |
||||
| Gains/(losses) on revaluation |
offixed assets | (38,000) | 260,045 | |
| Net movement in funds |
137,791 | 282,954 | ||
| RECONCILIATION OFFUNDS |
||||
| Total funds brought forward |
6,605410 | 6,322@56 | ||
| TOTAL FUNDS CARRIED FORWARD | 6,743,001 | 6,605,210 | ||
| CONTINUING OPERATIONS |
||||
| Ail income and expenditure | has arisen fiom continuing | activities. |
| 2022 | 2021 | ||
|---|---|---|---|
| Notes | Total funds | Total Rodsf | |
| FIXEDASSETS | |||
| Tangible assets | 10 | 817 | 1,364 |
| Investments | |||
| lnvesbnents | ll | 1 | |
| Social investments | 12 | 7,667,547 | 7,102,464 |
| 7,668864 | 7,103,829 | ||
| CURRENT ASSETS | |||
| Debtors | 13 | 26,440 | 18,195 |
| Cash at bank | 402,069 | 740,710 | |
| 428,509 | 758,905 | ||
| CREDITORS | |||
| Amounts falling due within one year |
14 | (253,872) | (196,379) |
| NET CURRENT ASSETS | 174,637 | 562,526 | |
| TOTAL ASSETSLESSCURRENT LIABILITIES | 7,843,001 | 7,666,355 | |
| CREDITORS | |||
| Amounts falling due atter morc than one year |
15 | (1,100,000) | (1,061,145) |
| NET ASSETS | 6)743,001 | 6,6052.10 | |
| FUNDS | 19 | ||
| Uruestricted funds |
6,743,001 | 6,605,210 | |
| TOTAL FUNDS | 6,7431001 | 6,605,210 |
| 2022 | 2021 | ||||||
|---|---|---|---|---|---|---|---|
| Notes | |||||||
| Cash floivs from operating | activities | ||||||
| Cash generated fmm operations |
328)786 | 269,958 | |||||
| Interest paid | (44,329) | (44,927) | |||||
| Net cash provided by operating activities |
284&457 | 225,031 | |||||
| Cash tlows from investing | activities | ||||||
| Purchase oftaogible fixed | assets | (1,076) | |||||
| Purchase ofsocial investments | (603,083) | (101,500) | |||||
| Net cash used in investing | activities | (603,083) | (102,576) | ||||
| Cash flows from financing | activities | ||||||
| Loan repayments in year |
(20,015) | (50,663) | |||||
| Net cash used in financing | activities | (20)015) | (50,663) | ||||
| Chauge in cash and cash reporting period |
equivalents | in the | (338,641) | 71,792 | |||
| Cash and cash equivalents | at the beginuing | of | |||||
| the reporting period |
740,710 | 668,918 | |||||
| Cash and cash equivalents | at the end | ofthe | |||||
| reporting period |
402,069 | 740,710 |
| 2022 | 2021 | ||||||
|---|---|---|---|---|---|---|---|
| f. | |||||||
| Net income for the | reporting | period (as per the Statement of Financial | |||||
| Activities) | 175,791 | 22,909 | |||||
| Adjustments | for: | ||||||
| Dcprcciation | charges | 548 | 548 | ||||
| Losses on investments | 1 | 20,000 | |||||
| Interest paid | 44&329 | 44,927 | |||||
| Finance costs | 50,774 | ||||||
| (Increase)/decrease | in debtors | (8345) | 28,789 | ||||
| Increase in creditors | 116,362 | 102,011 | |||||
| Net cash provided | by operations | 328,786 | 269,958 | ||||
| ANALYSIS | OF CHANGES IN NET DEBT | ||||||
| At 1.10.21 | Cash flow | At 30.9.22 | |||||
| f. | 'E | ||||||
| Net cash | |||||||
| Cash at bank | 740&710 | (338,641) | 402,069 | ||||
| 740,710 | (338,641) | 402,069 | |||||
| Debt | |||||||
| Debts hlling | due within | 1 year | (58,869) | 58,869 | |||
| Debts falling | doc after I year | (1&061,145) | (38&855) | (1,100,000) | |||
| (1,120,014) | 20,014 | (1,100&000) | |||||
| Total | (379304) | (318,627) | (697,931) |
| INCOME FROM | CHARITABLE ACTIVITIES | CHARITABLE ACTIVITIES | |||
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| Provision | Total | ||||
| ofhousing | activities | ||||
| E | |||||
| Property rental income | 1,190,230 | 635,477 | |||
| CHARITABLEAC~S COSTS | |||||
| Direct | Support | ||||
| Costs (see | costs (see | ||||
| note 4) | note 5) | Totals | |||
| f. | |||||
| Pmvision ofhousing | 1,004,537 | 9,901 | 1,014,438 | ||
| DIRECT COSTS | OF CHARITABLE ACTIVITIES | ||||
| 2022 | 2021 | ||||
| 5 | |||||
| Staff costs | 144,072 | 129,634 | |||
| Insurance | 24,776 | 14,191 | |||
| Postage and stationery Advertising Sundries |
1,907 I/00 4,921 |
552 1,502 |
|||
| Repairs and maintenance Office expenses |
111,621 13,282 |
90,146 8,307 |
|||
| Travel and subsistence | 3,774 | 3,371 | |||
| Legal fees Rent and rates |
52,461 1,411 |
68,322 2,155 |
|||
| Lease charges &om Rentplus | 590,735 | 170,999 | |||
| Loan arrangement | fee (Lloyds bank) | 50,774 | |||
| Bad debt provision Depreciation Interest payablc and similar |
charges | 9,400 548 44/29 |
548 44,927 |
||
| 1,004,537 | 585,428 | ||||
| All ofthe above expenditure | was unrestricted. |
| Governance | ||||
|---|---|---|---|---|
| costs | ||||
| f. | ||||
| Pmvision | ofhousing | 9&901 | ||
| Support | costs, included | in the above, ate as follows: | ||
| 2022 | 2021 | |||
| Provision | Total | |||
| ofhousing | activities | |||
| 5 | E | |||
| Auditors' | remuneration | 5,201 | 4,950 | |
| Auditors' | remuneration | for non audit work | 4,700 | 2&190 |
| 9,901 | 7&140 |
| 2022 | 2021 | |||
|---|---|---|---|---|
| Auditois' | remuneration | 5,201 | 4,950 | |
| Auditors' | remuneration | for non audit work | 4&700 | 2,190 |
| Depreciation —owned |
assets | 547 | 548 |
| STAFF COSTS | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| 2022 | 2021 | ||||||||
| Wages and salaries Social secrmty costs |
129,640 8,798 |
116,679 7,942 |
|||||||
| Other pension costs | 5,634 | 5,013 | |||||||
| 144,072 | 129,634 | ||||||||
| The average monthly | number ofemployees | duriug | the year was as follows: | ||||||
| 2022 | 2021 | ||||||||
| Charitable activities |
4 | 3 | |||||||
| Thc number ofemployees | whose employee | benefits | (excluding | employer | pension costs) exceeded | f60,000was: | |||
| 2022 | 2021 | ||||||||
| 660,001 —670,000 | I | 1 | |||||||
| The total employee benefits ofthe key management |
personnel ofthe charity were f81,088 (2021 - 674,258). | ||||||||
| COMPARATIVKS | FOR | THE STATEMENT OF FINANCIAL ACTIVITIKS | |||||||
| Unrestricted | |||||||||
| funds | |||||||||
| INCOME AND ENDOWMENTS | FROM | ||||||||
| Charitable activities |
|||||||||
| Provision ofhousing | 635,477 | ||||||||
| EXPENDITURE ON | |||||||||
| Charitable activities |
|||||||||
| Provision ofhousing | 592,568 | ||||||||
| Net gains/(losses) on |
investments | (20,000) | |||||||
| NKT INCOME | 22,909 | ||||||||
| Other recognised gains/(losses) |
|||||||||
| Gains on revaluation | offixed assets | 260,045 | |||||||
| Net movement in funds |
282,954 |
| 9. | COMPARATIVES | FORTHE STATEMENT OF FINANCIAL ACTIVITIES -continued | FORTHE STATEMENT OF FINANCIAL ACTIVITIES -continued | |
|---|---|---|---|---|
| Unrestricted | ||||
| funds | ||||
| 6 | ||||
| RECONCILIATION | OF FUNDS | |||
| Total Rnds brought | forward | 6,322,256 | ||
| TOTAL FUNDS CARRIED FORWARD | 6,605,210 | |||
| 10. | TANGIBLE FIXEDASSETS | |||
| Fixtures | ||||
| and | ||||
| Sttings | ||||
| f | ||||
| COST | ||||
| At 1 October 2021 | and | 30 September 2022 | 11,849 | |
| DEPRECIATION | ||||
| At l October 2021 | 10)485 | |||
| Charge for year | 547 | |||
| At 30September 2022 | 11,032 | |||
| NET BOOK VALUE | ||||
| At 30 September 2022 | 817 | |||
| At 30 September 2021 | 1,364 |
| SOCIAL INVESTMENTS | |
|---|---|
| Land and | |
| ~TVALUE | buildings |
| At 1 October 2021 | 7,102,464 |
| Additions | 603,083 |
| Revaluanons | (38,000) |
| At 30 September 2022 | 7)667,547 |
| NKT BOOKVALUE | |
| At 30 September 2022 | 7,667,547 |
| At 30 September 202l | 7,102,464 |
| Land and | |||
|---|---|---|---|
| buildings | |||
| f. | |||
| Valuation | in | 2017 | 3,460840 |
| Valuation | in | 2021 | 240,045 |
| Valuation | in | 2022 | (38,000) |
| Cost | 4,005,162 | ||
| 7,667,547 |
| 13. | DEBTORS& AMOUNTS FA | LLING DUE WITHIN ONE YEAR | ||
|---|---|---|---|---|
| 2022 | 2021 | |||
| f. | 6 | |||
| Tmde debtors | 21,677 | 14,916 | ||
| Prepayments and accrued income |
4,763 | 3479 | ||
| 26,440 | 18,195 | |||
| 14. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 2022f | 2021 | |||
| Bank loans and overdratts (see note 16) Trade creditors |
198&179 | 58,869 92,013 |
||
| Social security and other taxes Other creditors |
2,562 9,158 |
2,160 10,284 |
||
| Accruals and deferred income | 43,973 | 33,053 | ||
| 253,872 | 196,379 | |||
| 15. | CREDITORS: AMOUNTS | FALLING DUEAFTERMORE THAN ONE YEAR | ||
| 2022 | 2021 | |||
| 8 | ||||
| Bank loans (see note 16) | 1,100&000 | 1,061,145 | ||
| 16. | LOANS | |||
| An analysis ofthe maturity of loans is given below: | ||||
| 2022 | 2021 | |||
| Amounts falling due within one year on demand: Bank loans |
58,869 | |||
| Amounts falling due between Bank loans —2-5 years |
two and five years: | 256,838 | ||
| Atnounts falling due in more |
than five years: | |||
| Repayable by instalments: Bank loans more than 5 years |
804,307 | |||
| Repayable otherwise than by Bank loans more than 5yeius |
instslments: | 1,100,000 |
| 2022 | 2021 | |
|---|---|---|
| 6 | ||
| Within one year | 11354 | 8,085 |
| Between one and five yeais | 41)330 | 30,950 |
| In more than fiv yeats | 60,022 | 52,101 |
| 112,706 | 9l,136 |
| 2022f | 2021 | ||
|---|---|---|---|
| Bank | loans | 1,100,000 | 1,120,014 |
| MOVEM | EN | T | IN FUNDS | ||||||
|---|---|---|---|---|---|---|---|---|---|
| Net | |||||||||
| movement | |||||||||
| At 1.10.21 | in funds | At 30.9.22 | |||||||
| f. | |||||||||
| Unrestricted | fends | ||||||||
| General | fund | 2,904,825 | 175i791 | 3,080,616 | |||||
| Revaluation | Reserve | 3,700,385 | (38,000) | 31662,385 | |||||
| 6,605,210 | 137,791 | 6,743,001 | |||||||
| TOTAL | FUNDS | 6,605410 | 137,791 | 6,743,001 | |||||
| Net movement | in funds, included | in the above | are as follows: | ||||||
| Incoming | Resources | Gains and | Movement | ||||||
| resources | expended | losses f. |
in fundsf | ||||||
| Unrestricted | funds | ||||||||
| General | fund | 1,190430 | (1,014,438) | (I) | 175,791 | ||||
| Revaluation | Reserve | (38,000) | (38,000) | ||||||
| 1,190,230 | (1&014,438) | (38,001) | 137,791 | ||||||
| TOTAL | FUNDS | 1,190,230 | (1,014,438) | (38,001) | 137,791 | ||||
| Comparatives | for movement | in | funds | ||||||
| Net | |||||||||
| movement | |||||||||
| At 1.10.20 | in funds | At 30.9.21 | |||||||
| f. | f. | f | |||||||
| Unrestricted | funds | ||||||||
| General | fund | 2,881,916 | 22,909 | 2,904,825 | |||||
| Revaluation | Recon e | 3,440,340 | 260,045 | 3,700,385 | |||||
| 6,322456 | 282,954 | 6,605,210 | |||||||
| TOTAL | FUNDS | 6,322,256 | 282,954 | 6,605,210 |
| Incoming | Rcsourccs | Oains snd | Movement | ||
|---|---|---|---|---|---|
| resourcesf | expended | losses | iu 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 |
| CAPITAL | COMMITMKN | TS | |||
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| Contracted | but not provided | for in the financial | statements | 161,192 | |
| RELATEDPARTY DISCLOSURES |
| 2022 | 2021f | ||
|---|---|---|---|
| INCOME AND ENDOWMENTS | |||
| Charitable activities |
|||
| Pmperty rental income |
1,190,230 | 635,477 | |
| Total incoming resources | 1,190)230 | 635,477 | |
| EXPENDITURE | |||
| Charitable activities |
|||
| Wages | 129,640 | 116,679 | |
| Social security | 8,798 | 7,942 | |
| Pensions horn |
5,634 | 5,013 | |
| Insurance | 24,776 | 14,191 | |
| Postage and stationery | 1,907 | 552 | |
| Advertising | 1)300 | ||
| Sundries | 4&921 | 1,502 | |
| Repairs and maintenance | 111,621 | 90,146 | |
| Office expenses | 13,282 | 8,307 | |
| Travel and subsistence | 3,774 | 3,371 | |
| Legal fees | 52,461 | 68,322 | |
| Rent and mtes | 1,411 | 2,155 | |
| Lease charges Rentplus |
590)735 | 170,999 | |
| Loan arrangement fee (Lloyds bank) |
50,774 | ||
| Bad debt provision | 9)400 | ||
| Depreciation oftangible | fixed assets | 548 | 548 |
| Bank interest | 44329 | 44,927 | |
| 1,004)537 | 585,428 | ||
| Support costs | |||
| Governance costs |
|||
| Auditors' remuneration |
5,201 | 4,950 | |
| Auditors' remuneration |
for non audit work | 4&700 | 2,190 |
| 9,901 | 7,140 | ||
| Total resources expended | 1,014,438 | 592,568 | |
| Net iucome before gains | and losses | 175,792 | 42,909 |
| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| 5 | ||||||
| Realised recognised | gains | and losses | ||||
| Gains/(losses) | on property | transactions | (20,000) | |||
| Gains/(write | downs) | on inveshnent | assets | |||
| Net income | 175,791 | 22,909 |