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|||Page|
|---|---|---|
|Chairman's
statement|||
|Trustees'
report||2-8|
|Auditor's
report||9-13|
|Statement
offinancial|activities|14|
|Balance sheet||16|
|Statement
ofcash flows||17|
|Notes to the financial|statements|18-29|
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|||Unrestricted|||Expendable|||
|---|---|---|---|---|---|---|---|
|||Accumulated|Designated|Restricted|Capital|Total|Total|
||Note|fund|Funds|Funds|Funds|2023|2022|
||||E|E|E|E||
|INCOME FROM:||||||||
|Charitable
activities|2|1,340,049||981||1,341,030|1,263,737|
|Donations
and legacies|2|||17,608||17,752|70|
|Investments|||||1,774|1,774|43|
|TOTAL INCOME||1,340,193||18,589|1,774|1,360,556|1,263,850|
|EXPENDITURE ON:||||||||
|Charitable
activities||1,310,482||4,284||1,314,766|1,070,618|
|TOTAL EXPENDITURE||1,310,482||4,284||1,314,766|1,070,618|
|Net gains on investment||||||||
|revaluation|||||4,512|4,512||
|NET INCOME/EXPENDITURE||29,711||14,305|6,286|50,302|193,328|
|Transfer between
funds||(190,351)||(9,404)|199,755|||
|NET MOVEMENT
IN FUNDS||(160,640)||4,901|206,041|50,302|193,328|
|Fund balances
brought|forward|297,591|340,000||1,837,393|2,474,984|2,281,656|
|TOTAL FUNDS CARRIED||136,951|340,000|4,901|2,043,434|2,525,286|2,474,984|
|FORWARD||||||||
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|PRIOR FINANCIAL YE|AR|||||||
|---|---|---|---|---|---|---|---|
|||Unrestricted|||Expendable|||
|||Accumulated|Designated|Restricted|Capital||Total|
||Note|fund|Funds|Funds|Funds||2022|
|||E|E|F|||E|
|INCOME FROM:||||||||
|Charitable
activities|2|1,184,529||79,208|||1,263,737|
|Donations
and legacies|2|70|||||70|
|Investments||||||43||
|TOTAL INCOME||1,184,599||79,208|||1,263,850|
|EXPENDITURE ON:||||||||
|Charitable
acti~ties||1,008,473||62,145|||1,070,618|
|TOTAL EXPENDITURE||1,008,473||62,145|||1,070,618|
|Net gains on investment||||||||
|revaluation||||||||
|NET INCOME/EXPENDITURE||176,126||17,063||139|193,328|
|Transfer between
funds||(298,550)|340,000|(17,063)|(24,|387)||
|NET MOVEMENT
IN FUNDS||(122,424)|340,000|-|(24,248)||193,328|
|Fund balances
brought|forward|420,015|||1,861,641||2,281,656|
|TOTAL FUNDS CARRIED||297,591|340,000||1,837,393||2,474,984|
|FORWARD||||||||
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|||||Notes||2023||2022|
|---|---|---|---|---|---|---|---|---|
|FIXEDASSETS|||||||||
|Tangible assets||||||1,976,374||1,901,214|
|Listed investment||||||125,712||1,200|
|||||||2,102,086||1,902,414|
|CURRENT ASSETS|||||||||
|Stock|||||2,750||2,750||
|Debtors||||10|26,796||30,079||
|Cash at bank and|in hand||||518,556||587,359||
||||||548,102||620,188||
|Less: CREDITORS:||amounts|falling||||||
|due within one year|||||(124,902)||(47,618)||
|NET CURRENT ASSETS||||||423,200||572,570|
|TOTAL ASSETS LESS CURRENT LIABILITIES||||||2,525,286||2,474,984|
|CREDITORS: amounts||falling|||||||
|due aRer one year|||||||||
|||||||2,525,286||2,474,984|
|CAPITAL
AND RESERVES|||||||||
|Expendable
Capital Funds:|||||||||
|Building
Fund||||12||1,917,722||1,836,193|
|Welfare Fund||||12||125,712||1,200|
|||||||2,043,434||1,837,393|
|Unresbicted
Income||Funds:|||||||
|Accumulated
Fund||||12||136,951||297,591|
|Designated
Fund||||12||340,000||340,000|
|Restricted
Funds||||12||4,901|||
|TOTAL FUNDS||||||2,525,286||2,474,984|
##
||2023|2022|
|---|---|---|
||F||
|CASH FLOW FROM OPERATING ACTIVITIES|203,760|230,244|
|CASH FLOW FROM INVESTING ACTIVITIES|||
|Proceeds
from the sale of investments|||
|Purchase
of investments|(120,000)||
|Payment
to acquire tangible
fixed assets|(154,337)|(38,018)|
|Bank interest
received|||
|COIF interest
received|||
|COIF dividends
received|1,774|43|
|NET CASH FLOW FROM INVESTING ACTIVITIES|(272,563)|(37,975)|
|NET (DECREASE)/INCREASE
IN CASH AND CASH EQUIVALENTS|(68,803)|192,269|
|CASH AND CASH EQUIVALENTS PT THE START OF PERIOD|587,359|395,090|
|CASH AND CASH EQUIVALENTS AT THE END OF PERIOD|518,556|587,359|
|CASH AND CASH EQUIVALENTS CONSISTS OF:|||
|Cash at bank and
in hand|518,556|587,359|
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|2.
TOTAL INCOME RECEIVED|||||||
|---|---|---|---|---|---|---|
|||||2023||2022|
|||||6||E|
|Accumulated
fund|||||||
|Charitable
activities - Resident's||||1,340,049||1,184,529|
|Donation
and legacies||||144||70|
|Restricted
Funds|||||||
|Charitable
activities - Grant income||||981||79,208|
|Donation
and legacies||||17,608|||
|Welfare fund|||||||
|Investment
income||||1,774||43|
|||||1,360,556||1,263,850|
|6981 (2022:f79,208) ofgovernment|grants were received for assistance||during|the COVID-19 pandamic.|||
||Basis of|Charitable|||Total|Total|
||Allocation|Activities||Governance|2023|2022|
||||E|F.|f||
|Cosh directly related to activities:|||||||
|Staff costs|Direct|772,997|||772,997|683,446|
|Provisions|Direct||66,977||66,977|59,804|
|Household
requisites|Direct||43,594||43,594|42,798|
|Premises|Direct||81,900||81,900|46,206|
|Residents'
telephones|Direct||4,103||4,103|3,612|
|Insurance
and registration|Direct||5,071|21,137|26,208|22,829|
|Repairs
and renewals|Direct|149,280|||149,280|46,036|
|Audit|Direct|||4,500|4,500|4,500|
|Accountancy|Direct|||5,450|5,450|6,218|
|Support costs allocated to activities:|||||||
|Oflice and finance staff|Staff time||37,605||37605|36558|
|Training|Usage||84||84|226|
|Other staff costs|Usage||7,652||7,652|9,196|
|Equipment
purchases|Usage||20,175||20,175|21,195|
|Professional
fees|Usage||10,346||10,346|6,684|
|Communications|Usage||3,940||3,940|4,237|
|Advertising|Usage||400||400|1,106|
|Bank charges|Transaction||378||378|431|
|Depreciation|Usage||79,177||79,177|75,536|
|||1,283,679||31,087|1,314,766|1,070,618|
##
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|4.
Net income for the year||||
|---|---|---|---|
|Net income
is stated afier charging:||2023|2022|
|||E|E|
|Depreciation
oftangible assets||79,177|75,536|
|Operating
lease rentals||15,538|13,108|
|5.
TRUSTEES'
REMUNERATION|AND EXPENSES|||
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|||2023|2022|
|---|---|---|---|
|||Number|Number|
|Employees:||||
|Full time||10|8|
|Part time||42|39|
|||52|47|
|The 42 part time staft are equivalent|to 22 full time staff (2022: 22).|||
|||2023|2022|
|||E||
|Wages and salaries||749,806|668,764|
|Social security costs||48,003|40,146|
|Pension costs||12,793|11,094|
|||810,602|720,004|
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|8.
TANGIBLE FIXEDASSETS|Freehold|Freehold|Fittings
&||
|---|---|---|---|---|
||Land|Buildings|Equipment|Total|
|Cost:|||||
|At 1 April 2022
Additions|500,000|1,767,081
126,969|191,237
27,368|2,458,318
154,337|
|Disposals|||||
|At 31 March 2023|500,000|1,894,050|218,605|2,612,655|
|Depreciation:|||||
|At 1 April 2022
Charge for the year||430,888
45,440|126,216
33,737|557,104
79,177|
|Withdrawal
re disposal|||||
|At 31 March 2023||476,328|159,953|636,281|
|Net book value at 31 March 2023|500,000|1,417,722|58,652|1,976,374|
|Net book value at 31 March 2022|500,000|1,336,193|65 021|1 901 214|
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|Listed investment
consist|s of549.22 (2022: Nil) COIF Charities
In|mstment
Acculmulated
Fund units.||
|---|---|---|---|
|||2023|2022|
|Investment
Units||E|E|
|Cost at 1 April 2022||513|513|
|Additions
in the year||120,000||
|Disposals
in the year||(120,513)||
|Cost as at 31 March 2023|||513|
|Market value adjustment
At 1 April 2022
Change
in value
in year||687
6,692|591
96|
|Profit realised
on disposal||(7,379)||
|Market value adjustment|as at 31 March 2023||687|
|Market value at 31 March|2023||1,200|
|Accumulated
Units||||
|Cost at 1 April 2022||||
|Additions
in the year||127,892||
|Cost as at 31 March 2023||127,892||
|Market value adjustment||||
|At 1 April 2022||||
|Change
in value
in year||(2,180)||
|Market value adjustment|as at 31 March 2023|(2,180)||
|Market value at 31 March|2023|125,712||
|10.
DEBTORS||2023|2022|
|Trade debtors||11,251|9,851|
|Other debtors|||2,094|
|Prepayments||15,545|18,134|
|||26,796|30,079|
##
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|11.|CREDITORS: amounts|CREDITORS: amounts|falling due|2023|2022|
|---|---|---|---|---|---|
||within one year|||E||
|Trade|creditors|||49,929|7,644|
|Taxes|and social security costs|||11,482|8,759|
|Pension
contributions||||2,705|2,223|
|Resident
contributions||in advance||11,818|3,944|
|Other|creditors
and accruals|||48,968|25,048|
|||||124,902|47,618|
|12.|FUNDS|||||
||||Unrestricted|||Expendable||
|---|---|---|---|---|---|---|---|
||||Accumulated|Designated|Restricted|Capital|Total|
||||Fund|Fund|Funds|Funds|Funds|
||||E||E|E|E|
|Balance at|1 April 2022||297,591|340,000||1,837,393|2,474,984|
|Net incoming||resources|29,711||14,305|1,774|45,790|
|Transfers|||(190,351)||(9,404)|199,755||
|Investment|gains|||||4,512|4,512|
|Balance at|31 March 2023||136,951|340,000|4,901|2,043,434|2,525,286|
||||Unrestricted|||Expendable||
||||Accumulated|Designated|Restricted|Capital|Total|
||||Fund|Fund|Funds|Funds|Funds|
||||E|E|E|E|E|
|Balance at|1|April 2021|420,015|||1,861,641|2,281,656|
|Net incoming||resources|176,126||17,063|43|193,232|
|Transfers|||(298,550)|340,000|(17,063)|(24,387)||
|Investment|gains|||||96||
|Balance at|31 March 2022||297,591|340,000||1,837,393|2,474,984|
##
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|12.
FUNDS (CONT'|12.
FUNDS (CONT'|D)||||||
|---|---|---|---|---|---|---|---|
|Restricted
Funds|||01.04.22|Income|Expenditure|Transfers|31.03.23|
||||E|E|E||E|
|Rapid Testing
Fund -||SMBC||981|(981)|||
|Vouchers|- SMBC|||2,450|(2,450)|||
|Donations|- Residents|||9,404||(9,404)||
|Donations|-Stait|||5,754|(853)||4,901|
|Balance|at 31 March|2023||18,589|(4,284)|(9,404)|4,901|
||||01.04.21|Income|Expenditure|Transfers|31.03.22|
|||||||E||
|Covid 19|Vaccine Fund - SMBC|||49|(49)|||
|Infection|Control
Fund|—SMBC||53,244|(29,244)|(24,000)||
|Rapid Testing
Fund -||SMBC||23,465|(30,402)|6,937||
|Vouchers|- SMBC|||2,450|(2,450)|||
|Balance|at 31 March|2022||79,208|(62,145)|(17,063)||
##
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|12.
FUNDS|12.
FUNDS|(CONT'D)|||||
|---|---|---|---|---|---|---|
|Expendable||Capital Funds|Expendable|Capital|Funds|Total|
||||Building|Welfare||Expendable|
||||Fund|Fund||Funds|
||||E|||E|
|Balance at|1|April 2022|1,836,193||1,200|1,837,393|
|Net incoming||resources|||1,774|1,774|
|Transfers|||81,529||118,226|199,755|
|In~stment|gains||||4,512|4,512|
|Balance at|31 March 2023||1,917,722||125,712|2,043,434|
||||Expendable|Capital|Funds|Total|
||||Building|Welfare||Expendable|
||||Fund|Fund||Funds|
||||E|||E|
|Balance at|1|April 2021|1,860,537||1,104|1,861,641|
|Net incoming||resources|||43|43|
|Transfers|||(24,344)||(43)|(24,387)|
|Inwstment|gains||||96|96|
|Balance at|31 March 2022||1,836,193||1,200|1,837,393|
||||||Accumulated|Designated|Restricted|Expendable|2023|
|---|---|---|---|---|---|---|---|---|---|
||||||Fund|Fund|Fund|Fund|Total|
||||||E|||E|E|
|Tangible|lixed assets||||58,652|||1,917,722|1,976,374|
|Inwstments||||||||125,712|125,712|
|Current|assets||||203,201|340,000|4,901||548,102|
|Creditors:||amounts|due within|one year|(124,902)||||(124,902)|
||||||136,951|340,000|4,901|2,043,434|2,525,286|
||||||Accumulated|Designated|Restricted|Expendable|2022|
||||||Fund|Fund|Fund|Fund|Total|
||||||||f|||
|Tangible|fixed assets||||65,021|||1,836,193|1,901,214|
|In~stments||||||||1,200|1,200|
|Current|assets||||280,188|340,000|||620,188|
|Creditors:||amounts|due within|one year|(47,618)||||(47,618)|
||||||297,591|340,000||1,837,393|2,474,984|
##
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||||||2023|2022|
|---|---|---|---|---|---|---|
|||||||F|
|Net income for the year|||||50,302|193,328|
|COIF dividends
receivable|||||(897)|(43)|
|Bank interest
receivable|||||(877)||
|Depreciation
and impairment|||oftangible|fixed assets|79,177|75,536|
|(Gain) on|in~tments||||(4,512)|(96)|
|(Increase)|/ decrease|in stock|||||
|Decrease|/(increase)|in debtors|||3,283|(12,169)|
|Increase|/ (decrease)|in creditors|||77,284|(26,312)|
||||||203,760|230,244|
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|The total future|minimum|lease payments|due under non-cancellable|operating|leases are as follows:||
|---|---|---|---|---|---|---|
||||||2023|2022|
||||||F.||
|Within one year|||||13,990|13,990|
|Between two and five years|||||55,958|54,233|
|More than
five years|||||12,141|27,281|
||||||82,089||
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