2022-03-31-accounts - Maldon Housing Association Ltd

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								Pages
Reference and administrative trustees and adwsors				details of the	charity,	its		1-3
Chair's report
Trustees'	report							5 -13
Statement	by	the board in respect of internal			financial		control	14
Independent		auditor's	report					15 - 18
Statement	of	Comprehensive		Income				19
Statement	of	Financial	Position					20
Statement	of	Change	in Reserves					21
Statement	ofCash Flows							22
Notes to the financial			statements					23-38

		Year ended	Year ended
		31March 2022f	31 March 2021 f
Turnover		547,505	538,223
Operating	expenditure	(439,327)	(409,608)
Gain/(loss)	from sale of fixed assets
Operating	Surplus / (Deficit)	108,178	128,615
Other interest receivable and similar income		2,167	4.748
Interest payable and similar charges		(6,811)	(7,052)
Surplus /	(Deficit) for the year and total	103,534	126,311
comprehensive income

			Notes	Year ended	Year ended
				31 March	31 March
				2022	2021
				f
Fixed assets
Housing properties Other fixed assets				1,444,009 7,497	1,370,493 7,617
				1,451,506	1,378,110
Current assets
Investments Debtors Cash and cash equivalents			10 11	339,804 23,843 269,774	338,580 14,594 272,457
				633,421	625,631
Creditors: amounts	falkng due within one year		12	(79,493)	(75,381)
Net current assets				553,928	550,250
Creditors: amounts	falkng due after more than one year		13	(645,727)	(672,187)
Net assets				1,359,707	1,256,173
Capital and reserves
Income and expenditure		account		1,359,707	1,256,173
Total Reserves				1,359,707	1,256,173

				Income and
				Expenditure
				Reservef	Tota I 8
Balance	as at 1 April 2020			1,129,862	1,129,862
Surplus	/(deficit) from Statement	of Comprehensive	Income	126,311	126,311
Balance	as at 31 March 2021			1,256,173	1,256,173
Surplus	/ (deficit) from Statement	of Comprehensive	Income	103,534	103,534
Balance	as at 31 March 2022			1,359,707	1,359,707

						Year ended	Year ended
					Notes	31 March 2022	31 March 2021
							8
Net cash generated from	operating	activities (see
Note i)						100,216	134,339
Cash flow from investing	activities
Payments to acqwre investments Payments to acquire tangible fixed assets Proceeds from sale oftangible fixed assets						(94,567)	(83,000) (7,381)
Interest received						2,167	4,748
Cash flow from financing	activities					(92,400)	(85,633)
Interest paid Repayment of borrowings						(6,811) (3,688)	(7,052) (3,431)
						(10,499)	(10,483)
Net change in cash and cash equivalents						(2,683)	38,223
Cash and cash equivalents the year	at beginning		of			272,457	234,234
Cash and cash equivalents	at end of the		year			269,774	272,457
Components ofcash:
Cash at bank and at hand						269,774	272,457
						Year ended	Year ended
Note i:						31 March 2022 6	31 March 2021f
Cash flow from operating activities
Surplus / (deficit) for the year Adjustments for non-cash	items:					103,534	126,311
Depreciation oftangible fixed assets Decrease / (increase) in trade and other debtors Increase / (decrease) in trade and other creditors						20,639 (9,249) 1,903	13,652 448 12,879
Adjustments for investing or financing activities:
Government grants amortised Interest payable Interest receivable	in the year					(21,255) 6,811 (2,167)	(21,255) 7,052 (4,748)
Net cash generated from operating		activities				100,216	134,339
The notes on pages 23 to 38	form an	integral		part of these	financial	statements

TURNOVER,	OPERATING EXPENDITURE	AND OPERATING SUR	PLUS
			2022
			Operating	Operating
		Turnoverf	expenditure f	surplus f
Social housing	income (Note 3)	547,380	439,327	108,053
Activities other Other Income	than social housing	125		125
Tota I		547,505	439,327	108,178
			2021
			Operating	Operating
		Turnoverf	expenditure f	surplus
Social housing	income (Note 3)	538,223	409,608	128,6'I 5
Activities other	than social housing
Other Income
Tota I		538,223	409,608	128,615

		2022	2021
Income from social housing	lettings	E	E
Maintenance contributions Service charge income Amortised government grant CJRS grant		279,070 246,838 21,255 217	267,159 245,335 21,255 4,474
Total income from lettings		547,380	538,223
Expenditure on housing
Service costs Management costs Routine maintenance costs Planned maintenance costs Maior repairs		191,546 141,526 42,374 46,335	198,724 122,587 48,022 28,791
Property depreciation		17,546	11,484
Total expenditure on lettings		439,327	409,608
Operating surplus		108,053	128,615
Void losses		4,753	9,222

4	OTHER INTEREST RECEIVABLE AND SIMILAR INCOME
		2022	2021
		E	E
	Interest on deposits	2,167	4,748
5	INTEREST PAYABLE AND SIMILAR CHARGES
		2022	2021
		6	E
	Nationwide Building Society loan	1,058	1,250
	Orchardhrook loan	5,753	5,802
		6,811	7,052
6	SURPLUS / (DEFICIT) ON ORDINARY ACTIVITIES
		2022	2021
		6
	The operating surplus is stated after charging/(crediting)
	Auditors remuneration (excluding VAT)
	In their capacity as auditors In respect of other serwces Depreciation of Housing Properties Depreciation of Other Fixed Assets	6,105 1,085 17,546 3,093	5,820 1,035 11,484 2,168

GAIN/(LOSS) ON DISPOSAL OF PROPERTY, PLANT	AND EQUIPMENT
	2022	2021
	6	6
Proceeds ofsales
Less Cairying value at disposal
Gain/(loss) on disposal

			Total
		Completed	Properties
Cost			6
At 1 Apnl 2021 Additions Disposals			1,952,031 91,594 (22,847)
At 31 March 2022			2,020,778
Depreciation
At 1 April 2021 Charge for the year Released on disposals			581,538 17,546 (22,315)
At 31 March 2022			576,769
Net Book value
At 31 March 2022			1,444,009
At 31 March 2021			1,370,493
Works to existing properties	in the year
Improvement works capita lised
Components capitalised Amounts charged to expenditure			91,594 46,335

YE	AR ENDED 31 MARCH 2022 (continu	AR ENDED 31 MARCH 2022 (continu	ed)
9	OTHER FIXED ASSETS
			Furniture,	fittings	Computer	Tota I
			and equipment		equipment
				E
	Cost
	At 1 April	2021		54,107	4,722	58,829
	Additions			1,099	1,874	2,973
	Disposals
	At 31 March 2022			55,206	6,596	61,802
	Depreciation
	At 1 Apnl	2021		49,225	1,987	51,212
	Charge for the year			1,735	1,358	3,093
	Released	on disposals
	At 31 March 2022			50,960	3,345	54,305
	Net Book	Value
	At 31 March 2022			4,246	3,251	7,497
	At 31 March 2021			4,882	2,735	7,617
10	CURRENT ASSET INVESTMENTS
					2022	2021
	Current Asset Investments				339,804	338,580
11	DEBTORS
					2022	2021
						E
	Maintenance	charge arrears			1,031	882
	Other debtors	and prepayments			22,812	13,712
					23,843	14,594

CREDITORS:	AMOUNTS	FALLI	NG DUE W	ITHIN ONE YEAR
					2022	2021
					6	E
Loans (note 13) Trade creditors					3,902 20,856	2,385 21,092
Other creditors	and accruals				20,301	27,351
Taxation and social security Deferred capital grant (note		14)			11,932 21,255	(448) 21,255
Prepaid maintenance contnbution			charge		1,247	3,746
					79,493	75,381
CREDITORS:	AMOUNTS	FALLING DUE AFTER MORE THAN ONE YEAR
					2022	2021
					6	E
Deferred capital	grant (note	14)			573,873	595,128
Loans					71,854	77,059
					645,727	672,187
Total loans
Orchardbrook					52,539	53,039
Nationwide Building Society					23,217	26,405
					75,756	79,444
Loan payments	due within one year				3,902	2,385
Loan payments	due after more than		one year
- Repayable	in one to two years				3,962	2,442
— Repayable	in two to five years				11,994	7,736
- Repayable	after five years (all		repayable	by instalments)	55,898	66,881
					75,756	79,444

DEFERRED CAPITAL GRANT
		2022 f	2021f
At 1 Apnl		616,383	637,638
Released to income in the year		(21,255)	(21,255)
At 31 March		595,128	616,383
Amount due to be released & 1 year		21,255	21,255
Amount due to be released & 1 year		573,873	595,128
The total accumulated government	grant	595,128	616,383
The total accumulated government	grant and finanoal	1,062,733	1.062,733
assistance recewed or receivable	at 31 March:

16a.	WAGES AND SALARIES
								2022		2021
	Staff costs during the year								8	E
	Wages and salanes							193,527		194,370
	Agency costs Social security costs Pension contnbutions							11,185 9,978 1,560		9,141 1,717
								216,250		205,228
	The average number of persons	employed	by the Association				during
	the year was							12		12
	The average number of persons	employed	by the Association				on a
	full time equwalent basis (based	on 35 hour	week),	during	the		year
	was
	There were no full time equivalent None)	staff whose remuneration				exceeded		E60,000 in the year (2021
16b.	KEY MANAGEMENT PERSONNEL REMUNERATION
								2022		2021
								f
	The aggregate emoluments paid to or receivable by			non-executive
	Directors and former non-executive Directors
	The aggregate emoluments paid to or receivable by Personnel			Key Management				53,921		46,018
	The aggregate compensation paid	to or recewable by Key						53,921		46,018
	Management Personnel
	The emoluments paid to the highest paid Key Management excluding pension contributions				Personnel			53,921		46,018
	The aggregate amount of Key Management		Personnel or past				Key
	Management Personnel pensions,	excluding	amounts	payable			under
	a properly funded pension scheme
	The aggregate amount of any consideration		payable	to or recewable
	by third parties for making available the serwces of a			Director		or Key
	Management Personnel
	The aggregate amount of any consideration		payable	to Directors or
	Key Management Personnel for loss of office

CAPITA	L AND OT	HER	COMMITMENTS
					2022	2021
					6	E
Capital	expenditure	that	has been contracted	for but has not been	75,006	56,000
provided	for in the	financial statements
Capital	expenditure	that	has been authonsed	by the Board but has	80,000	5,000
not yet	been contracted		for

		2021	Cashflows	2022
		E	E	E
Loan	borrowings	79,444	(3,688)	75,756
Total	liabilities	79,444	(3,688)	75,756
Cash	and cash equivalents	(272,457)	2,683	(269,774)
Total	net debt/(funds)	(193,013)	(1,005)	(194,018)

The Association's financial	instruments	instruments		be analysed
					2022	2021
					5	f
Financial Assets:
Financial Assets Measured	at	Cost
Cash and cash equivalents					269,774	272,457
Financial Assets Measured	at	Amortised	Cost
Maintenance charge arrears					1,031	882
Other debtors					914	914
Current asset investments					339,804	338,580
Total Financial Assets					611,523	612,883
Financial Liabilities:
Financial Liabilities Measured		at Amortised		Cost
Maintenance charge creditors					1,247	3,746
Trade and other creditors					41,859	48,478
Housing loans payable					75,756	79,444
Total Financial Liabilities					118,862	131,668