|||Page|
|---|---|---|
|Report ofthe Trustees||1to 7|
|Report ofthe Independent
Auditors||8to 10|
|Statement of FinancialActivities|||
|Balance Sheet||12|
|Cash Flow Statement|||
|Notes to the Cash Flow Statement||14|
|Notes to the Financial Statements||15to 26|
|Detailed Statement
of Financial|Activities|27to 28|
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||||||2022|2021|
|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|Totalfunds|Total funds|
||||funds|funds|||
|||Note|f|f|||
|INCOME AND ENDOWMENTS|FROM||||||
|Donations
and legacies|||1,100||1,100||
|Charitable
activities|||||||
|Accommodation
charges||4|577,231||577,231|322,634|
|Investment
income||3|1,310||1,310|384|
|Other income||5|6,821||6,821|61,496|
|Total|||586,462||586,462|384,514|
|EXPENDITURE ON|||||||
|Charitable
activities|||||||
|Accommodation
expenditure||6|478,172||478,172|449,641|
|NET INCOME / (EXPENDITURE)|||108,290||108,290|(65,127)|
|RECONCILIATION
OF FUNDS|||||||
|Total funds brought forward|||427,472||427,472|492,599|
|TOTAL FUNDS CARRIED FORWARD|||535,762||537,762|427,472|
##
|||||2022||2021|
|---|---|---|---|---|---|---|
|||Unrestricted|Restricted|Totalfunds|Total funds||
|||funds|funds||||
||Note|E|E||||
|FIXEDASSETS|||||||
|Tangible assets|13|91,036||91,036|.|113,583|
|CURRENT ASSETS|||||||
|Debtors|14|40,219||40,219||18,754|
|Cash at bank and in hand||432,914||432,914||320,125|
|||473,133||473,133||338,879|
|CREDITORS|||||||
|Amounts
falling due within one year|15|(28,407)||(28,407)||(24,990)|
|NET CURRENT ASSETS||444,726||444,726||313,889|
|TOTAL ASSETS LESSCURRENT LIABILITIES||535,762||535,762||427,572|
|NET ASSETS||535,762||535,762||427,472|
|FUNDS|16||||||
|Unrestricted
funds||||535,762||427,472|
|Restricted funds|||||||
|TOTAL FUNDS||||535,762||427,472|
##
##
||||||2022|2021|
|---|---|---|---|---|---|---|
|||||Notes|E|E|
|Cash flows from operating|activities:||||||
|Cash generated
from / (used by) operations|||||115,440|(24,452)|
|Net cash provided
by / (used in) by operating|||||||
|activities|||||115,440|(24,452)|
|Cash flows from investing|activities:||||||
|Purchase oftangible
fixed|assets||||(3,961)||
|Interest received|||||1,310|384|
|Net cash (used in) /provided
by investing|||activities||(2,651)|384|
|Change
in cash and cash equivalents||in the|||||
|reporting
period|||||112,789|(24,068)|
|Cash and cash equivalents|at the beginning||ofthe||||
|reporting
period|||||320,125|344,193|
|Cash and cash equivalents|at the end|ofthe|||||
|reporting
period|||||432,914|320,125|
##
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||||||2022|2021|
|---|---|---|---|---|---|---|
||||||E|E|
|Net income/(expenditure)||for the reporting||period (as per the statement|||
|offinancial activities)|||||108,290|(65,127)|
|Adjustments
for:|||||||
|Depreciation
charges|||||26,508|26,248|
|Interest received|||||(1,310)|(384)|
|(Increase) / Decrease|in debtors||||(21,465)|17,019|
|Increase/(Decrease)|in creditors||||3,417|(2,208)|
|Net cash provided
by|/ (used in) operating||activities||115,440|(24,452)|
##
||At 1.9.21|Cash flow|At31.8.22|
|---|---|---|---|
||E|E|E|
|Net cash||||
|Cash at bank and in hand|~320 125|~112789|432914|
|Total|320,125|112,789|432,914|
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||2022|2021|
|---|---|---|
||E|E|
|Donations|1,100||
|INVESTMENT INCOME|||
||2022|2021|
||E|E|
|Deposit account interest|1,310|384|
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||||||||||2022|2021|
|---|---|---|---|---|---|---|---|---|---|---|
||||||||||Charitable|Charitable|
||||||||||activities|activities|
||||||||||f|f|
|Accommodation|||charges||||||560,979|312,135|
|Service charges|||||||||16,252|10,499|
||||||||||577,231|322,634|
|OTHER INCOME|||||||||||
||||||||||2022|2021|
||||||||||Charitable|Charitable|
||||||||||activities|activities|
||||||||||f|f|
|Job Retention||Grant|||||||1,760|57,496|
|Employment|Allowance||||||||5,000|4,000|
|National
Insurance||||on|maternity||pay recovered||61||
||||||||||6,821|61,496|
|CHARITABLE|ACTIVITIES|||||COSTS|||||
|||||||||Direct costs|Support costs|Totals|
|||||||||(See note 7)
f|(Seenote 8)
f|f|
|Accommodation|||expenditure|||||354,356|123,816|478,172|
|DIRECT COSTS||OF CHARITABLE ACTIVITIES|||||||||
||||||||||2022|2021|
||||||||||f|f|
|Staff wages|||||||||119,165|127,209|
|Social security|||||||||6,558|7,626|
|Pensions|||||||||9,365|9,912|
|Rates and water|||||||||32322|29,182|
|Insurance|||||||||21,273|20,919|
|Light and heat|||||||||63,374|50,763|
|Newspapers|and||sundries||||||2,260|1,105|
|Laundry|||||||||10,255|5,496|
|Cleaning|||||||||6,430|4,364|
|Equipment
replacements||||||and repairs|||13,776|3,025|
|Property
maintenance|||||and repairs||||17,755|31,696|
|Health and safety|||||||||6,632|792|
|Wi-Fi network|charges||||||||18,683|15,480|
|Depreciation|||||||||26,508|26,248|
||||||||||354,356|333,817|
##
##
##
|||||||Governance||
|---|---|---|---|---|---|---|---|
||||||Support costs
f|costs
f|Totals
f|
|Accommodation
expenditure|||||104,458|19,358|123,816|
|Support costs, induded|in the||above,|are as follows:||||
|Supper't costs||||||||
|||||||2022|2021|
|||||||f|f|
|Salary costs||||||69,808|78,002|
|Social security||||||6,915|7,214|
|Pensions and life assurance||||||7,860|7,882|
|Computer,
postage, telephone,|||courses, stationery||and advertising|19,875|16,276|
|||||||104,458|109,374|
|Governance costs||||||||
|||||||2022|2021|
|||||||f|f|
|Auditors'
remuneration||||||4,250|4,250|
|Auditors'
remuneration|for|non-audit||work||1,268|2,200|
|Legal and professional|fees|||||13,840||
|||||||19,358|6,450|
|NET INCOME/(EXPENDITURE)||||||||
|Net income / (expenditure)||is stated||after charging /|(crediting):|||
|||||||2022|2021|
|||||||f|f|
|Audit fee||||||4,250|4,250|
|Accountancy
charges||||||1,268|2,200|
|Depreciation
-owned assets||||||26,508|26,248|
##
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||||||||2022|2021|
|---|---|---|---|---|---|---|---|---|
||||||||E|E|
|Wages and salaries|||||||188,973|178,245|
|Redundancy
payments||||||||26,965|
|Social security costs|||||||13,473|14,841|
|Other pension costs and life||assurance|||||17,225|17,794|
||||||||219,671|237,845|
|The average
monthly|number|ofemployees||during the year was as|follows:||||
||||||||2022|2021|
|Wardens
and staff|||||||15|13|
|No employees
received emoluments|||in excess of660,000.||||||
|COMPARATIVES FOR|THE STATEMENT OF|||FINANCIAL ACTIVITIES|||||
|||||Unrestricted|||Restricted|Total funds|
||||||funds||funds||
||||||E||E|E|
|INCOME AND ENDOWMENTS||FROM|||||||
|Donations
and legacies|||||||||
|Charitable
activities|||||||||
|Accommodation
charges|||||322,634|||322,634|
|Investment
income||||||384||384|
|Other Income|||||61,496|||61,496|
|Total|||||384,514|||384,514|
|EXPENDITURE ON|||||||||
|Charitable
activities|||||||||
|Accommodation
expenditure|||||449,641 .|||449,641|
|NET INCOME/(EXPENDITURE)|||||(65,127)|||(65,127)|
|RECONCILIATION
OF FUNDS|||||||||
|Total funds brought forward|||||492,599|||492,599|
|TOTAL FUNDS CARRIED FORWARD|||||427,472|||427,472|
##
##
|TANGIBLE FIXEDASSETS||||
|---|---|---|---|
||Improvements|Fixtures and||
||to property|fittings|Totals|
||f|E|E|
|COST||||
|At 1September 2021|454,764|50,880|505,644|
|Additions|2,307|1,654|3,961|
|At 31August 2022|457,071|52,534|509,605|
|DEPRECIATION||||
|At 1September 2021|341,236|50,825|392,061|
|Charge for year|26,343|165|26,508|
|At 31August 2022|367,579|50,990|418,569|
|NET BOOK VALUE||||
|At 31August 2022|89,492|1,544|91,036|
|At 31August 2021|113,528|55|113,583|
##
##
|The Birmingham|Methodist|Methodist|Methodist|District Trustees
for We'sley|District Trustees
for We'sley|District Trustees
for We'sley|District Trustees
for We'sley|International|International|House|House|and the|Methodist|Methodist|Council
for|Council
for|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|Asbury Overseas|House||have|ratified|management|agreements|||authorising||Birmingham||International|||Student|
|Homes to be responsible|||for|all aspects of the upkeep|||and maintenance||||of both properties|||managed||by the|
|Charity except final ownership.|||||||||||||||||
|DEBTORS:AMOUNTS||FALLING DUE WITHIN ONE YEAR|||||||||||||||
||||||||||||||2022|||2021|
||||||||||||||E|||f|
|Trade debtors|||||||||||||7,957|||3,578|
|Prepayments||||||||||||32,262||||8,877|
|Other debtors||||||||||||||||6,299|
|||||||||||||40,219||||18,754|
|CREDITORS: AMOUNTS|||FALLING DUE WITHIN ONE YEAR||||||||||||||
||||||||||||||2022|||2021|
||||||||||||||F.|||E|
|Trade creditors|||||||||||||3,200|||2,628|
|Social security and|other||taxes|||||||||||||573|
|Deferred income|||||||||||||9,874|||9,069|
|Accrued expenses||||||||||||15,333||||12,720|
|||||||||||||28,407||||24,990|
##
|15.|CREDITORS: AMOUNTS|F|ALLING|DUE WITHIN ONE YEAR - conti|DUE WITHIN ONE YEAR - conti|DUE WITHIN ONE YEAR - conti|DUE WITHIN ONE YEAR - conti|nued||||
|---|---|---|---|---|---|---|---|---|---|---|---|
||Deferred income included||above|consists ofthe following:||||||||
||||||||||2022||2021|
||||||||||E||E|
||Deferred accommodation||charges||as|at 31August 2021|||9,069||7,494|
||Accommodation
charges||deferred||during||the year||94,034||62,668|
||Accommodation
charges||released||during||the year||(93,229)|'|(61,093)|
||Deferred accommodation||charges||as|at 31August 2022|||9,874||9,069|
|16.|MOVEMENT
IN FUNDS|||||||||||
||||||||||Net|||
||||||||||movement
in|||
|||||||||At 1.9.21|funds||At 31.8.22|
|||||||||f|E||E|
||Unrestricted
funds|||||||||||
||General
Fund
—Asbuiy Overseas|||House||||183,773|92,647||276,420|
||General
Fund
—Wesley International||||House|||113,699|15,643||129,342|
||Designated
Fund-|||||||||||
||Asbury Overseas
House|Maintenance||||Reserve Fund||60,000|||60,000|
||Designated
Fund—|||||||||||
||Wesley International
House Maintenance||||||Reserve Fund|70,000|||70,000|
||TOTAL FUNDS|||||||427,472|108,290||535,762|
||Net movement
in funds,|included||in|the above are as follows:|||||||
|||||||||Incoming|Resources|Movement
in||
|||||||||resources|expended||funds|
|||||||||E|E||E|
||Unrestricted
funds|||||||||||
||General
Fund
—Asbury Overseas|||House||||352,377|(259,730)||92,647|
||General
Fund
—Wesley International||||House|||234,085|(218,442)||15,643|
||TOTALFUNDS|||||||586,462|(478,172)||108,290|
##
##
|Compar|atives|for mo|v|ement|in|fund|s||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||||Net||
||||||||||||movement
in||
|||||||||||At 1.9.20|funds|At 31.8.21|
|||||||||||E|E|f|
|.Unrestricted||Funds|||||||||||
|General|Fund|- Asbury||Overseas||House||||221,938|(38,165)|183,773|
|General|Fund|- Wesley||International|||House|||140,661|(26,962)|113,699|
|Designated
Fund-|||||||||||||
|Asbury|Overseas House Maintenance||||||Reserve||Fund|60,000||60,000|
|Designated
Fund-|||||||||||||
|Wesley|International||House||Maintenance|||Reserve Fund||70,000||70,000|
|TOTAL|FUNDS|||||||||492,599|(65,127)|427,472|
|Comparative||net movement|||in funds,||included||in the above are as follows:||||
|||||||||||Incoming|Resources|Movement
in|
|||||||||||resources|expended|funds|
|||||||||||E|E|E|
|Unrestricted||funds|||||||||||
|General|Fund|—Asbury||Overseas||House||||228,056|(266,221)|(38,165)|
|General|Fund|—Wesley||International|||House|||156,458|(183,420)|(26,962)|
|TOTALFUNDS||||||||||384,514|(449,641)|(65,127)|
##
|||||||||||Net||
|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||movement|in||
|||||||||At 1.9.20|funds||At31.8.22|
|||||||||E|E||6|
|Unrestricted
funds||||||||||||
|General|Fund -Asbury|||Overseas|House|||221,938|54,482||276,420|
|General|Fund
—Wesley|||International||House||140,661|(11,319)||129,342|
|Designated
Fund-||||||||||||
|Asbury|Overseas|House Maintenance||||Reserve Fund||60,000|||60,000|
|Designated
Fund-||||||||||||
|Wesley|International||House Maintenance||||Reserve Fund|70,000|||70,000|
|TOTAL|FUNDS|||||||492,599|43,163||535,762|
|||||||Incoming|Resources|Movement
in|
|---|---|---|---|---|---|---|---|---|
|||||||resources|expended|funds|
|||||||E|E|E|
|Unrestricted||funds|||||||
|General|Fund|—Asbury|Overseas|House||580,433|(525,951)|54,482|
|General|Fund|—Wesley|International||House|390,543|(401,862)|(11,319)|
|TOTAL|FUNDS|||||970,976|(927,813)|43,163|
##
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||2022|2021|
|---|---|---|
||6||
|Within one year|3,796|22,775|
|Between two and five years||3,796|
|In more than five years|||
||3,796|26,571|
##
||||||2022|2021|
|---|---|---|---|---|---|---|
||||||f|f|
|INCOME AND ENDOWMENTS|||||||
|Donations and legacies|||||||
|Donations|||||1,100||
|Investment
income|||||||
|Deposit account interest|||||1,310|384|
|Charitable
activities|||||||
|Accommodation
charges|||||560,979|312,135|
|Service charges|||||16,752|10,499|
||||||577,231|322,634|
|Other Income|||||||
|Job Retention
Grant|||||1,760|57,496|
|Employment
Allowance|||||5,000|4,000|
|National
insurance|on|maternity||pay recovered|61||
||||||6,821|61,496|
|Total incoming
resources|||||||
|EXPENDITURE|||||||
|Charitable
activities|||||||
|Staff wages|||||119,165|127,209|
|Social security|||||6,558|7,626|
|Pensions|||||9,365|9,912|
|Rates and water|||||32,322|29,182|
|Insurance|||||21,273|20,919|
|Light and heat|||||63,374|50,763|
|Newspapers
and sundries|||||2,260|1,106|
|Laundry|||||10,255|5,496|
|Cleaning|||||6,430|4,364|
|Equipment
replacements|||and repairs||13,776|3,025|
|Property maintenance||and repairs|||17,755|31,696|
|Health and safety|||||6,632|792|
|Wi-Fi network charges|||||18,683|15,480|
|Depreciation
oftangible|||fixed assets||26,508|26,247|
||||||~354356|~333817|
##
|||||||2022|2021|
|---|---|---|---|---|---|---|---|
|||||||E|E|
|Support costs||||||||
|Salary costs||||||69;808|78,002|
|Social security||||||6,915|7,214|
|Pensions|and life assurance|||||7,860|7,882|
|Computer,|postage, telephone,||courses, stationery||and advertising|19,875|16,276|
|||||||104458|109374|
|Governance|costs|||||||
|Auditors'|remuneration|||||4,250|4,250|
|Auditors'|remuneration|for non-audit||work||1,268|2,200|
|Legal and|professional|fees||||13,840||
|||||||19,358|6,450|
|Total resources expended||||||||
|Net Income|/ (Expenditure)|||||108,290|(65,127)|