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|---|---|---|---|---|---|---|---|---|
|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|
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|||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||||
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||||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|
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|||||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||
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|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|
##
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|||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|
##
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|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|
##
##
|14|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:|||
##
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##
|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||||||||||
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|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)|
##
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##
|The Association's
financial|instruments|instruments|instruments|may||be analysed|as follows|||
|---|---|---|---|---|---|---|---|---|---|
|||||||||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|