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||||Page|
|---|---|---|---|
|Reference and administrative||details ofthe charity, its Trustees and advisers||
|Trustees'
report|||2 —6|
|Independent
auditors'|report|on the financial statements|7 —10|
|Statement ofcomprehensive||income||
|Statement offinancial|activities||12|
|Balance sheet|||13|
|Statement ofcash flows|||14|
|Notes to the financial|statements||15-28|
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##
|Trustees|||Stephen
Hole,|Chairman|||
|---|---|---|---|---|---|---|
||||David Marks||||
||||Paul Northmore||||
||||Thomas Roden||||
||||Ronald
Brown||||
||||Michael Foster|(resigned|1 April 2021)1||
||||James Lewis||||
||||Nominated
(by Plymouth|||City Council)|
|Charity registered|||||||
|number|||1076364||||
|Principal|office||Charity Trust Office||||
||||41 Hele's Terrace||||
||||Prince Rock||||
||||Plymouth||||
||||PL4 9LH||||
|Senior Staff|||Samantha
Easton, Trust Manager||||
||||Benita Merrin, Trust Administrator||||
|Housing|Registration||A4273||||
|number|||||||
|Independent||auditors|Bishop Fleming|LLP|||
||||Chartered
Accountants||||
||||Salt Quay House||||
||||4 North East Quay||||
||||Sutton Harbour||||
||||Plymouth||||
||||PL4 OBN||||
|Bankers|||Nat West Pic||||
||||Business Centre||||
||||StAndrews
Cross||||
||||Plymouth||||
|Solicitors|||Curtis Whiteford|Crocker|||
||||87-89 Mutley
Plain||||
||||Plymouth||||
||||Devon||||
||||PL4 6JJ||||
|Investment||Advisor|John Wilkinson||||
||||Investec Wealth|8 Investment||Ltd|
||||Keble House||||
||||Southernhay
Gardens||||
||||Exeter||||
||||EX1 1NT||||
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|||Note|2022|2021|
|---|---|---|---|---|
||||f.||
|Turnover||3|532,337|509,282|
|Operating|costs|5|(387,243)|(330,755)|
|Operating|surplus||178,527|178,527|
|Investment|income||25,137|21,898|
|Movement|in fair value offinancial assets||23,479|201,080|
|Surplus
for|the year||193,710|401,505|
##
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|||Unrestricted|Total|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2022|2022|2021|
||Note|||E|
|Income from:|||||
|Charitable
activities||532,337|532,337|509,282|
|Investments||25,137|25,137|21,898|
|Total income||557474|557474|531 180|
|Expenditure
on:|||||
|Charitable
activities||387,243|387,243|330,755|
|Total expenditure||387 243|387243|330755|
|Net income before net gains on investments||170,231|170,231|200,425|
|Net gains on investments||23,479|23,479|201,080|
|Net movement
in funds|||||
|Reconciliation
offunds:|||||
|Total funds brought
forward||3,782,106|3,782,106|3,380,601|
|Net movement
in funds||193,710|193,710|401,505|
##
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|||||Note||2022f||2021|
|---|---|---|---|---|---|---|---|---|
|Fixed assets|||||||||
|Tangible assets||||||3,005,776||2,984,008|
|Investments||||||1,394,124||1,351,436|
|||||||4,399,900||4,335,444|
|Current assets|||||||||
|Debtors||||10|35,477||33,307||
|Investments|||||747,400||672,292||
|Cash at bank and|in|hand|||168,949||135,706||
||||||951,826||841,305||
|Creditors: amounts|falling||due within one||||||
|year||||12|(26,992)||(45,725)||
|Net current assets||||||924,834||795,580|
|Total assets less|current||liabilities|||5,324,734||5,131,024|
|Creditors: amounts|falling||due after more||||||
|than one year||||13||(1,348,918)||(1,348,918)|
|Net assets excluding||pension asset||||3,975,816||3,782,106|
|Total net assets|||||||||
|Charity funds|||||||||
|Restricted funds||||14|||||
|Unrestricted
funds||||14||3,975,816||3,782,106|
|Total funds|||||||||
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||||||2022|2021|
|---|---|---|---|---|---|---|
|Cash flows from operating||activities|||||
|Net cash|inflow from operating
activities||(Note 16)||164,987|228,568|
|Cash flows from investing||activities|||||
|Purchase|oftangible
fixed assets||||(56„636)|(60,509)|
|Purchase|offixed asset investments|||||(200,000)|
|Net cash|used in investing|activities|||(56,636)|(260,509)|
|Change|in cash and cash|equivalents|in|the year|108,351|(31,941)|
|Cash and|cash equivalents|at the beginning||ofthe year|807,998|839,939|
|Cash and cash equivalents||at the end|of|ihe year|||
|The notes on pages 15to 28 form part ofthese financial statements|||||||
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||2022f|2021|
|---|---|---|
|Rent receivable|511,860|491,696|
|Supporting
people|31,267|31,041|
|Rent losses from voids|(11,483)|(18,258)|
|Other income|693|4 803|
|Total|||
|INVESTMENT INCOME|||
||2022|2021|
|Dividends
from listed investments|25,014|21,611|
|Bank interest received|123|287|
|Total|||
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|DIRECT COS|TS|||||
|---|---|---|---|---|---|
|||||Total|Total|
|||||2022f|2021
F|
|Management|expenses|||5,660|4,505|
|Service costs||||78,212|72,020|
|Finance, administration||and legal and professional|fees|131,143|91,164|
|Staff costs||||135,888|129,701|
|Depreciation||||36,340|33,365|
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|||||2022|2021|
|---|---|---|---|---|---|
|||||E||
|Depreciation
oftangible||fixed assets owned|by the Charity|36,340|33,365|
|Auditors'|remuneration|-audit||7,500|5,295|
|Auditors'|remuneration|-other services||2,500|1,905|
|Trustees'|indemnity
insurance|||||
##
||2022|2021|
|---|---|---|
||f.|E|
|Wages and salaries|124,018|119,375|
|Social security costs|8,910|8,260|
|Other pension costs|2,960|2,066|
||'135,88K~~||
|2022|2021|
|---|---|
|No.|No.|
|2022|2021|
|---|---|
|No.|No.|
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||Freehold|Freehold|Property||
|---|---|---|---|---|
||property|f|improvements
f|Total|
|COST OR VALUATION|||||
|At 1 April 2021|2,838,122||339,697|3,177,819|
|Additions|||56,636|56,636|
|Disposals|||(4,222)|(4,222)|
|At 31 March 2022|2,838,122||392„111|3,230,233|
|DEPRECIATION|||||
|At 1 April 2021|||193,811|193,811|
|Charge for the year|||36,340|36,340|
|On disposals|||(5„694)|(5,694)|
|At 31 March 2022|||224,457|224,457|
|NET BOOK VALUE|||||
|At 31 March 2022|||||
|At 31 March 2021|||||
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|9.|FIXEDASSET INVESTMENTS|FIXEDASSET INVESTMENTS|||
|---|---|---|---|---|
|||||Listed|
|||||securities|
|||||f.|
||MARKET VALUE||||
||At 1 April 2021|||1,351,436|
||Additions|||104,833|
||Disposals|||(85,624)|
||Revaluation
gains|||23,479|
||AT 31 MARCH 2022||||
|10.|DEBTORS||||
||||2022f|2021f|
||DUE WITHIN ONE YEAR||||
||Trade debtors||12,525|11,781|
||Prepayments
and accrued|income|22,952|21,526|
|||||33.2QZ|
|11.|CURRENT ASSET INVESTMENTS||||
||||2022f|2021f|
||General fund||||
||CAF Gold Account||189,971|164,941|
||Cyclical Maintenance|Fund (Hele's)|||
||CAF Gold Account||230,297|205,273|
||Extraordinary
Repair Fund (Hele's)||||
||CAF Gold Account||327132|302 078|
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|||||2022|2021|
|---|---|---|---|---|---|
|||||F||
|Trade creditors||||2,093|5,741|
|Other taxation and|social|security||3,184|3,120|
|Other creditors||||201|201|
|Accruals and deferred
income||||21,514|36,663|
|DEFERRED INCOME||||||
|Deferred
income at 1 April||2021|||21,679|
|Resources deferred|during|the year|||3,434|
|Amounts
released|from previous||years||21 679|
|Deferred
income at 31 March 2022||||||
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|||2022|2021|
|---|---|---|---|
|||E|E|
|Deferred|income|~34Q1k|~~~1&|
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|STATEMENT OF|FUNDS - CURR|ENT YEAR|||||
|---|---|---|---|---|---|---|
|||||||Balance at|
|Balance at 1||||Transfers|Gains/|31 March|
||April 2021|Income|Expenditure|in/out|(Losses)|2022|
||F||F|F|f.|F|
|UNRESTRICTED|FUNDS:||||||
|DESIGNATED FUNDS|||||||
|Extraordinary|||||||
|Repair Fund|302,078|||25,054||327,132|
|Cyclical|||||||
|Maintenance|||||||
|Fund|205,273|||25,024||230,297|
|Opportunities|||||||
|Fund|1,516,377|25,014||19,225|23,479|1,584,095|
|Fixed Assets|1,635,090|||21,768||1,656,858|
||3,658,818|25,014||91,071|23,479|3,798,382|
|GENERAL FUNDS|||||||
|General
Funds|123288|532450|~387243|~91071||177434|
|TOTAL FUNDS|'@82~|R8~4.~~|||||
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|STATEMENT OF|FUNDS - PRIOR|YEAR|||||
|---|---|---|---|---|---|---|
|||||||Balance at|
||Balance at|||Transfers|Gains/|31 March|
||1 April 2020|Income|Expenditure|in/out|(Losses)|2021|
||||E||f.||
|UNRESTRICTED|FUNDS:||||||
|DESIGNATED FUNDS|||||||
|Extraordinary|||||||
|Repair Fund|281,792|||20,286||302,078|
|Cyclical|||||||
|Maintenance|||||||
|Fund|295,105|||(89,832)||205,273|
|Opportunities|||||||
|Fund|1,085,007|||230,290|201,080|1,516,377|
|Fixed Assets|1,608,221|||26,869||1,635,090|
||3,270,125|||187,613|201,080|3,658,818|
|GENERAL FUNDS|||||||
|General Funds|110476|531 180|~330755|~187613||123 288|
|TOTAL FUNDS~3~~~~~7!Q|||||~~0~~tK||
##
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|SUMMARY OF|FUNDS - CURRE|NT YEAR|||||
|---|---|---|---|---|---|---|
|||||||Balance at|
||Balance at 1|||Transfers|Gains/|31 March|
||April 2021
E|Income|Expenditure
E|in/out
E|(Losses)
f|2022
f|
|Designated|||||||
|funds|3,658,818|25,014||91,071|23,479|3,798,382|
|General funds|123,288|532,460|(387,243)|(91,071)||177,434|
|SUMMARY OF|FUNDS - PRIOR|YEAR|||||
|||||||Balance at|
||Balance at|||Transfers|Gains/|31 March|
||1 April 2020|Income|Expenditure|in/out|(Losses)|2021|
|||E|F|E|||
|Designated|||||||
|funds|3,270,125|||187,613|201,080|3,658,818|
|General funds|110,476|531,180|(330,755)|(187,613)||123,288|
##
||Unrestricted|Total|
|---|---|---|
||funds|funds|
||2022|2022|
||E|E|
|Tangible fixed assets|3,005,776|3,005,776|
|Fixed asset investments|1,394,124|1,394,124|
|Current assets|951,826|951,826|
|Creditors due within one year|(26,992)|(26,992)|
|Creditors due in more than one year|(1,348,918)|(1,348,918)|
|TOTAL|||
|ANALYSIS OF NET ASSETS BETWEEN FUNDS -PRIOR YEAR|ANALYSIS OF NET ASSETS BETWEEN FUNDS -PRIOR YEAR|||
|---|---|---|---|
|||Unrestricted|Total|
|||funds|funds|
|||2021|2021|
|Tangible|fixed assets|2,984,008|2,984,008|
|Fixed asset investments||1,351,436|1,351,436|
|Current|assets|841,305|841,305|
|Creditors|due within one year|(45,725)|(45,725)|
|Creditors|due in more than one year|(1,348,918)|(1,348,918)|
|TOTAL||||
##
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|||2022|2021|
|---|---|---|---|
||||E|
||Net income for the year (as per Statement of Financial Activities)|||
|||193,710|401,505|
||ADJUSTMENTS FOR:|||
||Depreciation
charges|36,340|33,365|
||Dividends,
interest and gains on investments|(42,688)|(211,271)|
||(Profit)/ loss on the sale offixed assets|(1,472)|275|
||Increase
in debtors|(2,170)|(5,803)|
||(Decrease)
/ increase
in creditors|(18,733)|10,497|
||NET CASH PROVIDED BYOPERATING ACTIVITIES|||
|18.|ANALYSIS OF CASH AND CASH EQUIVALENTS|||
|||2022|2021|
||Cash
in hand|168,949|135,706|
||Notice deposits (less than 3months)
TOTAL CASH AND CASH EQUIVALENTS|747,400
672,292
~~4k~i~||
|19.|ANALYSIS OF CHANGES
IN NET DEBT|||
||||At 1 April||At 31 March|
|---|---|---|---|---|---|
||||2021|Cash flows|2022|
||||F|||
|Cash|at bank and|in hand|135,706|33,243|168,949|
|Liquid|investments|||||
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