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|Chair's report||||1-3|
|Trustees'
report||||4-20|
|Auditors'
report||||21-24|
|Consolidated
statement|of comprehensive||income|25|
|Group and charity statement||offinancial|position|26|
|Group and charity statement||of changes|in reserves|27|
|Consolidated
statement|of cash flows||||
|Notes to the financial statements||||29-56|
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|Value for Money (VFM)|Value for Money (VFM)|||||||
|---|---|---|---|---|---|---|---|
|The Board is committed
to achieving||value for money when|delivering|its purpose|and objectives,|in accordance|with|
|its Business Plan, VFM Strategy and the HE Value for Money|||Standard|and Metrics.||||
|With regard to HE metrics the findings are:||||||Charity||
|Reinvestment
%|||||||6 40%|
|New Supply Delivered|||||||5.60%|
|Gearing %||||||-28.32%||
|EBITDA MRI interest cover||||||1001.00%||
|Headline
social housing cost|per unit|(provides for intensive|housing|management)||f18,394||
|Operating
Margin% (social housing
lettings)|||||||3.20%|
|Operating
Margin %(overall)|||||||3.00%|
|Return on capital employed|(ROCE) %||||||1.4%|
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SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION
(LIMITED BY GUARANTEE) AND SUBSIDIARIES
INDEPENDENT AUDITORS REPORTTO THE MEMBERS (continued)
FOR TliE YEAR ENDED 31 AUGUST 2021
Auditors responsibllities for the audlt of the financial statements Icontinuedl
A further description of our responsibilities is available on the Financial Reporting Council's website at
https'./lwww.frc.org.uk/auditors/audit-assurance/auditor-s-responsibilities-for-the-audit-of-the-fi/description-of-the-
auditor's-responsibilities-for. This description forms part of our auditor's report.
Use of our report
This report is made solely to the charity's trustees, as a body, in accordance with Chapter 3 of Part 16 of the
Companies Act 2006 and section 137 of the Housing and Regeneration Act 2008. Our audit work has been undertaken
so that we might state to the charity's trustees those matters we are required to gtate to them in an auditors, report
and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone
other than the charity and the charity's mèmbers as a body, for our audit work, for this report, or for the opinions we
have formed.
Kerry Hilliard ACA FCCA CTA Isenior Siatutory Auditor)
for and on behalf of Stephenson Smart & Co
Statutory Auditor
36 Tyndall Court
Commerce Road
Lynchwood
PeterbDrough
PE2 6LR
Date..
IS 2021
-24-
##
|||||||Year ended|Year ended|
|---|---|---|---|---|---|---|---|
|||||||2021|2020|
||||||Note|f|f|
|Turnover|||||2|2,331,972|2,017,195|
|Operating|expenditure|||||||
|Operating
costs||||||(2,261,761)|(1,950,494)|
|Operating|surplus/(deficit)|||||70,211|66,701|
|Gain/(loss)
on disposal of property,||||plant and equipment||||
|Interest|receivable|||||342|1,269|
|Interest|payable|||||(16,097)|(19,675)|
|Surplus/(deficit)
before|||tax|||54,456|48,295|
|Taxation||||||||
|Surplus/(deficit)
for the|||year|||54,456|48,295|
|Actuarial|(loss)/ gain||in respect of pension schemes|||(12,469)|(91,000)|
|Total comprehensive||(deficit)/income||for the year||41,987|(42,705)|
##
##
||||||Group|Group|Charity|Charity|
|---|---|---|---|---|---|---|---|---|
||||||31.8.2021|31.8.2020|31.8.2021|31.8.2020|
|||||Note|E|E|f|f|
|Fixed assets|||||||||
|Tangible fixed assets - housing||properties||9|1,664,227|1,606,001|1,664,227|1,606,001|
|Other tangible fixed assets||||10|2,505,026|2,540,182|550,587|567,093|
||||||4,169,253|4,146,183|2,214,814|2,173,094|
|Current assets|||||||||
|Trade and other debtors||||11|184,012|139,475|159,121|109,792|
|Cash at bank and in hand|||||1,282,928|1,298,893|640,662|654,927|
||||||1,466,940|1,438,368|799,783|764,719|
|Creditors: amounts
falling due within one year||||12|(457,522)|(531,564)|(380,341)|(446,394)|
|Net current assets/(liabilities)|||||1,009,418|906,804|419,442|318,325|
|Total assets less current
liabilities|||||5,178,671|5,052,987|2,634,256|2,491,419|
|Creditors: amounts
falling due after|||one year|13|(1,139,853)|(1,095,156)|(1,139,853)|(1,095,156)|
|Provisions for liabilities|||||||||
|Defined benefit pension|scheme||liability|17|(229,000)|(190,000)|||
|TOTAL NET ASSETS|||||3,809,818|3,767,831|1,494,403|1,396,263|
|RESERVES|||||||||
|Income and expenditure|reserve||||1,497,281|1,355,087|1,490,046|1,345,982|
|Restricted reserve||||19|2,312,537|2,412,744|4,357|50,281|
||||||3,809,818|3,767,831|1,494,403|1,396,263|
##
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##
|Group|||Income and|Restricted|Restricted|Total|
|---|---|---|---|---|---|---|
||||expenditure|reserve|fixed asset||
||||reserve||reserve||
|Balance as at 1September 2019|||1,355,175|449,180|2,006,181|3,810,536|
|Total comprehensive|income for|the year|(42,705)|||(42,705)|
|Transfer ofrestricted|expenditure|from|||||
|unrestricted
reserve|||42,617|(9,525)|(33,092)||
|Balance at 31August|2020||1,355,087|439,655|1,973,089|3,767,831|
|Total comprehensive|income for|the year|41,987|||41,987|
|Transfer ofrestricted|expenditure|from|||||
|unrestricted
reserve|||100,207|(81,557)|(18,650)||
|Balance at 31August|2021||1,497,281|358,098|1,954,439|3,809,818|
|Charity|||Income and|Restricted|Restricted|Total|
||||expenditure|reserve|fixed asset||
||||reserve||reserve||
|||||6|f||
|Balance as at 1September 2019|||1,346,326|47,183||1,393,509|
|Total comprehensive|income for|the year|2,754|||2,754|
|Transfer ofrestricted|expenditure|from|||||
|unrestricted
reserve|||(3,098)|3,098|||
|Balance at 31August|2020||1,345,982|50,281||1,396,263|
|Total comprehensive|income for|the year|98,140|||98,140|
|Transfer ofrestricted|expenditure|from|||||
|unrestricted
reserve|||45,924|(45,924)|||
|Balance at 31August|2021||1,490,046|4,357||1,494,403|
||||||||Group||
|---|---|---|---|---|---|---|---|---|
||||||||31.8.2021|31.8.2020|
|||||||Note|f|f|
|Net cash flow from operating|||activities|||22|77,498|376,202|
||||||||77,498|376,202|
|Cash flow from|investing|activities|||||||
|Refurbishment
oftangible|||fixed assets - housing||properties||(38,903)|(13,728)|
|Purchase of|tangible fixed||assets||||(41,956)|(37,798)|
|Proceeds from sale oftangible
fixed assets|||||||1,000|192|
|Interest income|||||||342|1,269|
|Net cash flow from investing|||activities||||(79,517)|(50,065)|
|Cash flow from|financing|activities|||||||
|Interest paid|||||||(16,097)|(19,675)|
|New borrowings|||||||30,000||
|Repayment|of long term loans||||||(27,849)|(25,851)|
|Net cash flow from financing|||activities||||(13,946)|(45,526)|
|Net increase
in|cash and|cash equivalents|||||(15,965)|280,611|
|Cash and cash|equivalents|at|the beginning|of|||||
|the year|||||||1,298,893|1,018,282|
|Cash and cash|equivalents|at|the end ofthe||||||
|year|||||||1,282,928|1,298,893|
|Cash and cash|equivalents|consists of:|||||||
|Cash at bank and in hand|||||||1,282,928|1,298,893|
|Cash and cash|equivalents|at|the end ofthe|year|||1,282,928|1,298,893|
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|This treatment
has been applie
Direction 2020-21.|d
to present
a true and fair view
in a|d
to present
a true and fair view
in a|
|---|---|---|
|Depreciation
has been provided|at the following
rates:||
|Freehold
buildings||100years straight
line|
|Fixtures and fittings||20%/25% reducing
balance|
|Music, sports and office equipment||25% reducing
balance|
|Computer
equipment||3years straight
line|
|Motor vehicles||25% reducing
balance|
|Kitchen extension||50years straight
line|
|Music room extension||6years straight
line|
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|2.TURNOVER, EXPENDITURE, OPERATING|2.TURNOVER, EXPENDITURE, OPERATING|COSTS|AND OPERATING SURPLUS/(DEFICIT)|||
|---|---|---|---|---|---|
|||||2021|2020|
|||||f|E|
|Income from Social Housing|Lettings|||||
|Rents receivable
excluding service charges||||163,247|161,708|
|Service charges receivable||||376,406|328,270|
|Other social housing activities||||144,547|149,591|
|Total||||684,200|639,569|
|Activities other than social housing||||||
|Income from Asylum Seeker properties||||57,502|48,578|
|Activities for generating
funds||||48,538|49,394|
|Training||||30,290|26,518|
|Community
Impact||||2,180|35,031|
|Positive Activities||||588,148|307,052|
|Children's
Home||||2,500||
|Covid 19||||15,400|37,923|
|Charity Shop Profit Share||||936||
|||||745,494|504,496|
|Total Charity Income||||1,429,694|1,144,065|
|Educational
operations
(South Essex Community|||School Limited)|||
|DfE/ESFA gra nts||||532,581|517,873|
|Other government
grants||||45,498|65,093|
|Other funding||||275,722|280,244|
|Donations
and capital grants||||29,993|8,641|
|Covid-19 additional
funding||||17,728||
|Other trading
activities||||756|1,279|
|Total income for Group||||2,331,972|2,017,195|
##
|URNOVER|, EXPENDITURE, OPERATING C|OSTS AND OPERATING SURPLU|S/(DEFICIT) (co|ntinued)||
|---|---|---|---|---|---|
||||Activities|||
|||Social|otherthan|||
|||housing|social|||
|||activities|housing|2021|2020|
||||E|E|E|
|Income||684,200|1,647,772|2,331,972|2,017,195|
|Operating|expenditure|(662,170)|(1,599,591)|(2,261,761)|(1,950,494)|
|Operating|surplus|22,030|48,181|70,211|66,701|
|Void losses||||2,649||
##
||||Group||Charity||
|---|---|---|---|---|---|---|
||||2021|2020|2021|2020|
||||No of units||No of units||
|Social housing|||||||
|Non-social|housing|(asylum seekers)|7|7|7|7|
|Supported|housing||36|34|36|34|
|Total owned|||43|41|43|41|
##
##
##
||||||||Group||Charity||
|---|---|---|---|---|---|---|---|---|---|---|
||||||||2021|2020|2021|2020|
||||||||E||f|E|
||Depreciation|on housing|properties||||19,677|17,872|19,677|17,872|
||Depreciation|ofother tangible|||fixed|assets|75,644|77,522|20,666|25,011|
||Profit/(Loss)|on disposal|of housing|||properties|||||
||Profit/(Loss)|on other tangible|||assets||(468)|(274)|(468)|(274)|
||Operating
lease rentals:||||||||||
||office equipment||||||26,007|24,390|22,613|20,462|
||Auditors'
remuneration:||||||||||
||Fees payable|to the Charity's||auditors:|||||||
||for the audit|ofthe financial statements|||||10,000|10,000|10,000|10,000|
||for other services||||||7,292|11,072|7,292|11,072|
||Fees payable|to the component|||auditors:||||||
||Audit ofthe|accounts of|subsidiaries||||7,000|7,000|||
||Total audit services||||||24,292|28,072|17,292|21,072|
|5.|INTEREST RECEIVABLE||||||||||
||||||||Group||Charity||
||||||||2021|2020|2021|2020|
|||||||||f|E|E|
||Interest received||||||342|1,269|268|1,192|
||||||||342|1,269|268|1,192|
|6.|INTEREST AND|FINANCING|COSTS||||||||
||||||||Group||Charity||
||||||||2021|2020|2021|2020|
||||||||E|F.|E|f|
||Interest on bank loans||||||16,097|19,675|16,097|19,675|
||||||||16,097|19,675|16,097|19,675|
##
##
|TAFF COSTS||||||||||
|---|---|---|---|---|---|---|---|---|---|
|||||||||2021|2020|
|||||||||f|f|
|Wages and salaries|||||||1,116,329||940,156|
|Social security costs|||||||101,336||82,577|
|Other pension costs|||||||139,809||102,483|
||||||||1,357,474||1,125,216|
|In addition to the above, contributions|||to the|operating|expenses ofthe YMCA|Pension|Plan|of61,772 were made||
|(2020:61,421).||||||||||
|The average
monthly|number|of employees||expressed|as full time equivalents|(calculated||based|on a standard|
|working
week of37 hours):||||||||||
|||||||||2021|2020|
|Housing
and support|||||||||6|
|Training|||||||||2|
|Community
impact|||||||||1|
|Positive activities||||||||7|6|
|Management
and administration||||||||4|3|
|South Essex Community|School|||||||21|18|
|||||||||38|36|
|||||||||||38|36|
|---|---|---|---|---|---|---|---|---|---|---|---|
|The
full|time|equivalent||number|of employees|receiving|annual|remuneration|excluding|employer|pension|
|contributions||in|excess off60,000||are:|||||||
|E60,001|tof70,000|||||||||||
|f70,001|to E80,000|||||||||2||
|||||||||||2021|2020|
|||||||||||6|6|
|Key management|||personnel|remuneration:||||||||
|Salary|||||||||571,648||571,648|
|Contributions||to|pension scheme||||||64,274||41,655|
||||||||||635,922||613,303|
##
##
##
##
|||Social||
|---|---|---|---|
|~dd
h|it|housing
properties|Total housing
properties|
|||f|6|
|COST||||
|At 1September|2020|1,688,123|1,688,123|
|Additions||77,903|77,903|
|Disposals||||
|At 31August 2021||1,766,026|1,766,026|
|DEPRECIATION||||
|At 1September|2020|82,122|82,122|
|Charge||19,677|19,677|
|Disposals||||
|At 31August 2021||101,799|101,799|
|NET BOOK VALUE||||
|At 31August 2021||1,664,227|1,664,227|
|At 31August 2020||1,606,001|1,606,001|
##
|||Academy|Music, Sports|Fixtures,|||
|---|---|---|---|---|---|---|
||Land and|Trust Land|&Office|Fittings and|Motor|Total Fixed|
|~Grou|buildings|and Buildings|Equipment|Computer|Vehicles|Assets|
||E|E|E|E|||
|COST|||||||
|At 1September 2020|626,839|2,127,129|80,970|423,350|128,791|3,387,079|
|Additions||5,428||36,528||41,956|
|Disposais||||(23,101)|(28,791)|(51,892)|
|At 31August 2021|626,839|2,132,557|80,970|436,777|100,000|3,377,143|
|DEPRECIATION|||||||
|At 1September 2020|107,028|207,637|78,126|330,016|124,090|846,897|
|Charge|5,552|35,052|710|33,522|808|75,644|
|Disposals||||(23,101)|(27,323)|(50,424)|
|At 31August 2021|112,580|242,689|78,836|340,437|97,575|872,117|
|NET BOOK VALUE|||||||
|At 31August 2021|514,259|1,889,868|2,134|96,340|2,425|2,505,026|
|At 31August 2020|519,811|1,919,492|2,844|93,334|4,701|2,540,182|
||||Academy|Music, Sports||||
|---|---|---|---|---|---|---|---|
|~Charit||Land and|Trust Land|&Office|Fixtures and|Motor|Total Fixed|
|||buildings|and Buildings|Equipment|Fittings|Vehicles|Assets|
|||E|f|E|E|||
|COST||||||||
|At 1September|2020|626,839||80,970|222,628|128,791|1,059,228|
|Additions|||||5,628||5,628|
|Disposals|||||(23,101)|(28,791)|(51,892)|
|At 31August 2021||626,839||80,970|205,155|100,000|1,012,964|
|DEPRECIATION||||||||
|At 1September|2020|107,028||78,126|182,891|124,090|492,135|
|Charge||5,552||710|13,596|808|20,666|
|Disposals|||||(23,101)|(27,323)|(50,424)|
|At 31August 2021||112,580||78,836|173,386|97,575|462,377|
|NET BOOK VALUE||||||||
|At 31August 2021||514,259||2,134|31,769|2,425|550,587|
|At 31August 2020||519,811||2,844|39,737|4,701|567,093|
##
|11.DEBTORS - AMOUNTS|11.DEBTORS - AMOUNTS|FALLING DUE WITHIN|FALLING DUE WITHIN|FALLING DUE WITHIN|FALLING DUE WITHIN|ONE YEAR|||
|---|---|---|---|---|---|---|---|---|
||||||||2021|2020|
|Group|||||||E|E|
|Trade debtors|||||||(487)|26,694|
|Rent and service charges receivable|||||||27,425|22,508|
|Less provision|for bad||debts||||(2,567)|(2,567)|
|Other debtors|||||||95,691|44,822|
|Prepayments|and accrued income||||||63,950|48,018|
||||||||184,012|139,475|
||||||||2021|2020|
|Charity||||||||E|
|Rent and service charges receivable|||||||27,425|22,508|
|Less provision|for bad||debts||||(2,567)|(2,567)|
|Other debtors|||||||87,722|43,433|
|Amounts
due|from subsidiary|||and|associated|undertakings|||
|Prepayments|and accrued income||||||46,541|46,418|
||||||||159,121|109,792|
|12.CREDITORS - AMOUNTS|||DUE|FALLING WITHIN ONE YEAR|||||
||||||||2021|2020|
|Group|||||||E|E|
|Bank loan|||||||27,746|27,746|
|Other loan|||||||3,000||
|Trade creditors|||||||46,823|57,107|
|Rent and service charges received|||||in advance||3,154|2,439|
|YMCA pension|deficit|agreement|||plan||6,236|6,362|
|Deferred capital grant|||(note 15)||||4,713|3,738|
|Other taxation|and social security||||||15,628||
|Other creditors|||||||123,798|115,028|
|Accruals and deferred|||income||||226,424|319,144|
||||||||457,522|531,564|
##
##
|12.CREDITORS - AMOUNTS|DUE FALLING WITHIN ONE|DUE FALLING WITHIN ONE|DUE FALLING WITHIN ONE|DUE FALLING WITHIN ONE|YEAR (continued)|YEAR (continued)|||||
|---|---|---|---|---|---|---|---|---|---|---|
||||||||||2021|2020|
|Charity|||||||||f|E|
|Bankloan|||||||||27,746|27,746|
|Otherloan|||||||||3,000||
|Trade creditors|||||||||46,823|52,682|
|Rent and service charges received|||in advance||||||3,154|2,439|
|YMCA pension deficit agreement|||plan||||||6,236|6,362|
|Deferred
capital grant|(note 15)||||||||4,713|3,738|
|Other taxation
and social security|||||||||15,628||
|Other creditors|||||||||72,905|67,957|
|Accruals and deferred|income||||||||200,136|285,470|
||||||||||380,341|446,394|
|Group accruals and deferred||income includes the following||||deferred|income:||||
||||||||||2021|2020|
|Group and Charity|||||||||E|E|
|National
Lottery Community||Fund|(RC London|and|South East Region)||||35,402|64,517|
|National
Lottery Community||Fund|(Coronavirus|Community||Support|Fund)|||92,061|
|BBCChildren
in Need|||||||||4,431||
|Co-operative
Foundation/Big||Lotteryttiwill|||||||6,565|11,667|
|Essex Community
Foundation|||||||||27,923|5,000|
|ECVYS|||||||||14,033||
|Jack Petchey Foundation|||||||||4,186||
|Virtual School|||||||||7,828|8,750|
|YMCAEW|||||||||22,000||
|YMCAEW Y Girls|||||||||5,295||
|Kids Inspire
—Fammily|Innovation||Fund||||||2,083|2,083|
|Southend
Borough
Council - Youth Ambassadors|||||||||2,438||
|Southend
Borough Council young|||peoples homeless||service|(Supporting||People)||12,154|
||||||||||132,184|196,232|
|13.CREDITORS - AMOUNTS|DUE|FALLING AFTER ONE YEAR|||||||||
||||||||||2021|2020|
|Group and Charity|||||||||E|E|
|Bankloan|||||||||725,053|752,902|
|Otherloan|||||||||27,000||
|YMCA pension
deficit agreement|||plan||||||56,910|44,676|
|Deferred capital grant|(note 15)||||||||330,890|297,578|
||||||||||1,139,853|1,095,156|
##
##
##
|||||Group||Charity||
|---|---|---|---|---|---|---|---|
|||||2021|2020|2021|2020|
|||||E|E|f|E|
|Bankloans||||752,799|780,648|752,799|780,648|
|Otherloans||||30,000||30,000||
|||||782,799|780,648|782,799|780,648|
|Payable|within|one year||30,746|27,746|30,746|27,746|
|Payable|after|one|year|752,053|752,902|752,053|752,902|
|||||782,799|780,648|782,799|780,648|
|Amounts|included||above which fall due after five|||||
|years, payable||by|instalments|629,068|641,917|629,068|641,917|
##
##
|DEFERRED CAPITAL GRANT|||
|---|---|---|
||2021|2020|
|Group and Charity|f|f|
|At 1September
2020|301,316|269,053|
|Grant received
in the year|39,000|36,000|
|Released to income in the year|(4,713)|(3,737)|
|At 31August 2021|335,603|301,316|
##
##
##
|EASE COMM|ITMENTS|||||||
|---|---|---|---|---|---|---|---|
|Total future|minimum|lease payments|under|non-cancellable|operating|leases for each ofthe following|periods
is|
|as follows:||||||||
|||||||2021|2020|
|Group||||||f|f|
|Within one year||||||49,822|16,815|
|Between one and five||years||||126,184|26,518|
|After 5 years||||||263,975||
|||||||439,981|43,333|
|||||||2021|2020|
|Charity||||||f|f|
|Within one year||||||46,599|13,478|
|Between one and five||years||||125,833|23,102|
|After 5years||||||263,975||
|||||||436,407|36,580|
##
##
|||||Within|One to|Two to|After|More than|Total|Total|
|---|---|---|---|---|---|---|---|---|---|---|
|||||one year|two years|five years|five years|one year|2021|2020|
|||||E|E|E|E|E|E|E|
|As|at|31August|2021|6,236|6,667|22,792|27,451|56,910|63,146||
|As|at|31August|2020|6,362|6,789|23,138|14,748|44,675||51,037|
##
##
##
##
##
##
##
##
##
##
##
|The amounts|recognised|in the balance s|heet are as f|ollows:|||
|---|---|---|---|---|---|---|
||||||Defined benefit||
|||||||pension
plans|
||||||2021|2020|
||||||f|E|
|Present value|offunded|obligations|||(451,000)|(361,000)|
|Fair value of|plan assets||||222,000|171,000|
||||||(229,000)|(190,000)|
|Deficit|||||(229,000)|(190,000)|
|The amounts|recognised|in the statement|offinancial|activities are:|||
||||||Defined benefit||
|||||||pension
plans|
||||||2021|2020|
||||||E|E|
|Current service cost|||||73,000|49,000|
|Interest cost|||||3,000|1,000|
||||||76,000|50,000|
##
##
|Changes|in the||present value ofthe defined benefit obligation
are as follow|s:|s:|s:|
|---|---|---|---|---|---|---|
|||||Defined benefit|||
||||||pension|plans|
|||||2021||2020|
|||||f||f|
|Opening|defined benefit obligation|||361,000|277,000||
|Current|service||cost|73,000|49,000||
|Interest|cost|||6,000||5,000|
|Contributions||by scheme participants||9,000||7,000|
|Actuarial|losses|||32,000|23,000||
|Benefits|paid|||(30,000)|||
|Closing defined|||benefit obligation|451,000|361,000||
|Changes|in the|fair value ofthe share of scheme assets:|||||
|||||Defined benefit|||
||||||pension|plans|
|||||2021||2020|
|||||f||f|
|Opening|fair value ofscheme assets|||171,000|206,000||
|Interest|income|||3,000||4,000|
|Contributions||by employer||31,000|22,000||
|Contributions||by scheme participants||9,000||7,000|
|Actuarial|gains/(losses)|||38,000|(68,000)||
|Benefits|paid|||(30,000)|||
|Closing fair value ofscheme assets||||222,000|171,000||
|Principal|actuarial
assumptions
at the balance sheet date:||||||
|||||2021||2020|
|RPlincreases||||3.39o||3.1/o|
|CPlincreases||||2 9o/||2.3/o|
|Future salary increases||||3.9o/o||3.3/o|
|Future pension|||increases|2.99o||2.3/o|
|Discount|rate|||1.7oo||1.6/o|
##
##
##
||||||At 31August|
|---|---|---|---|---|---|
|||||2021|2020|
|Retiring|today|||||
|Males||||21.6|21.8|
|Females||||23.6|23.8|
|Retiring|in|20 years||||
|Males||||22.9|23.2|
|Females||||25.1|25.2|
|The group's||share ofthe assets in the scheme was:||||
|||||Fair value|at 31August|
|||||2021|2020|
|||||E|E|
|Equities||||142,000|106,000|
|Gilts||||6,000|7,000|
|Corporate||bonds||10,000|10,000|
|Property||||15,000|13,000|
|Cash||||6,000|5,000|
|Alternative||assets||25,000|20,000|
|Other managed|||funds|18,000|10,000|
|Total market value of assets||||222,000|171,000|
##
##
|The Group's financial
instruments|The Group's financial
instruments|The Group's financial
instruments|may|be|analysed|as follows:||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||||2021|2020|
||||||||||||||f|
|Financial assets:||||||||||||||
|Financial assets that are debt|instruments||||measure|at amortised||cost|||1,402,990||1,390,350|
|Financial liabilities:||||||||||||||
|Financial
liabilities
measured|at|amortised|||cost||||||972,202||955,222|
|Financial assets measured
at|amortised|||cost comprise cash at|||bank||and in hand, trade||debtors and other debtors.|||
|Financial
liabilities
measured||at|amortised
cost|||comprise|trade||creditors,|taxation|and|social|security,
other|
|creditors,
housing
and bank loans.||||||||||||||
|MOVEMENT
IN RESTRICTED RESERVES||||||||||||||
||||||||||As at 1
September
2020||Movement
in
the year||As at 31
August 2021|
|||||||||||f||F.
f||
|Residents
fund||||||||||8,147||(8,147)||
|The National
Lottery Community|||Fund|—RC London||and South|East|||||||
|Region||||||||||22,579||(22,579)||
|Better Start||||||||||5,489||(5,489)||
|Co-op Foundation/Big
Lottery|Fund ¹iwill||||fund Grant|||||8,499||(4,142)|4,357|
|Family Innovation
Fund||||||||||5,567||(5,567)||
|South Essex Community
School:||||||||||||||
|Commissioning
Fund|||||||||565,984|||(33,063)|532,921|
|Other
EFA grants||||||||||||2,329|2,329|
|COVID-19 catch up premium||||||||||||7,832|7,832|
|Special Education
Projects||||||||||2,909||(286)|2,623|
|Local Authority||||||||||10,481||26,555|37,036|
|Pension|||||||||(190,000)|||(39,000)|(229,000)|
|Restricted fixed assets funds|||||||||1,973,089|||(18,650)|1,954,439|
|Total Restricted
Reserves|||||||||2,412,744||(100,207)||2,312,537|
##
##
##
##
##
##
##
||||||||2021|2020|
|---|---|---|---|---|---|---|---|---|
||||||||E||
|Incoming resources from||charitable|activities||- Educational|operations|871,529|863,210|
|Incoming resources from||charitable|activities||—Other income||30,823|9,997|
|Resources expended|||||||(958,506)|(918,666)|
||||||||(56,154)|(45,459)|
|The aggregate
ofthe assets, liabilities||||and reserves were:|||||
||||||||2021|2020|
||||||||E|E|
|Fixed Assets|||||||1,954,439|1,973,089|
|Current Assets|||||||667,157|673,649|
|Current
Liabilities|||||||(306,190)|(275,178)|
||||||||2,315,406|2,371,560|
|ECONCILIATION
OF|NET|MOVEMENT||IN RESERVESTO NET CASH FLOW FROM OPERATING ACTIVITES|||||
||||||||Group||
||||||||2021|2020|
||||||||E|E|
|Surplus/(Deficit)
for|the year||||||41,987|(42,705)|
|Depreciation
of housing||properties|||||19,677|17,872|
|Depreciation
ofother fixed assets|||||||75,644|77,522|
|Loss on sale of housing
property|||||||||
|Loss on sale ofother|fixed assets||||||468|274|
|Interest payable|||||||16,097|19,675|
|Interest received|||||||(342)|(1,269)|
|Capital grant|||||||(39,000)|(36,000)|
|Decrease/(Increase)|in debtors||||||(44,537)|(10,967)|
|(Decrease)
in creditors|||||||7,504|351,800|
|Net cash generated|from operating||activities||||77,498|376,202|
##
##
##
##
##
|ANALYSIS|OF CHANGES|IN NET DEBT||||||
|---|---|---|---|---|---|---|---|
||||As at 1|||Other non-||
||||September|||cash|As at 31|
||||2020|Cash|flows|movements|August 2021|
|Cash|||1,298,893|(15,965)|||1,282,928|
|Loans due|within one year||(27,746)|(2,151)||(849)|(30,746)|
|Loans due|after one year||(752,902)|||849|(752,053)|
||||518,245|(18,116)|||500,129|
|CAPITAL COMMITMENTS||||||||
||||Group|||Charity||
||||2021||2020|2021|2020|
|||||E||f|f|
|Capital expenditure||||||||
|Expenditure|authorised|by the board, but not||||||
|contracted||||53,856|||53,856|
|||||53,856|||53,856|
##
##
##
##
##
|capital and,
in accordance with the Memorandum
ofAssoc
in the event ofthe company
being wound
up.|iation;
every member
is liable to contribute
a|sum ofE1|
|---|---|---|
||2021|2020|
|Number of members|No|No|
|At 1September|8|8|
|Joining during the year|2||
|Leaving during the year|(1)|(1)|
|At 31August|||