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|||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|
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|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|||
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||||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.|||
##
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|||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|
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|||||||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|
##
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|||||||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)|
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|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|
##
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|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|
##
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##
|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|
##
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##
|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||
##
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##
||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|
##
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##
|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|
##
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|CAPITAL|COMMITMKN|TS||||
|---|---|---|---|---|---|
|||||2022|2021|
|Contracted|but not provided|for in the financial|statements|161,192||
|RELATEDPARTY DISCLOSURES||||||
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|||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|