| PAGE | |
|---|---|
| REFERENCE AND ADMINISTRATIVE DETAILS |
|
| REPORT OF THE TRUSTEES | 2-7 |
| AUDITOR'S REPORT | 8-10 |
| STATEMENT OF FINANCIAL ACTIVITIES | |
| BALANCE SHEET | 12 |
| CASH FLOW STATEMENT | 13 |
| NOTES TO THE CASH FLOW STATEMENT | 14 |
| NOTES TO THE FINANCIAL STATEMENTS |
15-20 |
| DETAILED STATEMENT OF FINANCIAL ACTIVITIES | 21 |
| 31.05.2022 | 31.05.2021 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Total | |||||
| fund | funds | |||||
| Notes | 5 | |||||
| INCOME | AND ENDOWMENTS | FROM | ||||
| Income | 2,328,956 | 1,426,031 | ||||
| Investment | income | |||||
| 2,328,956 | 1,426,031 | |||||
| EXPENDITURE ON | ||||||
| Charitable | activities | |||||
| Charitable | activities | 2,178,935 | 1,076,491 | |||
| Supportcosts | 340,235 | 217,569 | ||||
| Total | 2,519,170 | 1.294,060 | ||||
| NET INCOME | (190,214) | 131,971 | ||||
| RECONCILIATION | OF FUNDS | |||||
| Total funds brought | forward | 218,417 | 86,446 | |||
| TOTAL FUNDS CARRIED FORWARD | 28 202 | 218417 |
| BALANCE SHEET AS AT 31 MAY 2022 | |||
|---|---|---|---|
| 31.05.2022 | 31.05.2021 | ||
| Notes | Unrestricted | Total | |
| fund | iunds | ||
| FIXEDASSETS | 8 | ||
| Tangible assets |
10 | 49,896 | 22,015 |
| CURRENT ASSETS | |||
| Debtors Cash at bank and in hand |
63,777 | 3,956 268,160 |
|
| CREDITORS | 63,777 | 272,115 | |
| Amount falling due within one year |
12 | (7,444) | (16,879) |
| NET CURRENT ASSETS | 56,333 | 255.236 | |
| TOTAL ASSETSLESSCURRENT | |||
| LIABILITIES | 166,220 | 277,251 | |
| CREDITORS | |||
| Amount falling due at)er more than one year |
13 | (78,027) | -58,834 |
| NET ASSETS | 28,203 | 218,417 | |
| FUNDS | |||
| Unrestricted funds |
28,203 | 218,417 | |
| TOTAL FUNDS | 28,203 | 218,417 |
| 31.05.2022 | 31.05.2021 | ||||
|---|---|---|---|---|---|
| Note | |||||
| Cash tlows from operating | activities | ||||
| Cash generated from operations |
(157,657) | 209,372 | |||
| Net cash provided by operating activities |
~157,6573 | 2139,372 | |||
| Cash flows from investing | activities | ||||
| Purchase oftangible fixed assets Cash from disposal ofassets |
61,672 (14,947) |
29,530 (1,5001 |
|||
| Net cash used in investing | 46,725 | 28,030 | |||
| Change in cash and cash equivalent |
in | ||||
| the reporting period |
(204,383) | 181,342 | |||
| Cash and cash equivalent | at the | ||||
| beginning ofthe reporting | period | 268,160 | 86,818 | ||
| Cash and cash equivalent | at the end | of | |||
| the reporting period |
63,777 | 268,160 |
| 31.05.2022 | 31.05.2021 | |||
|---|---|---|---|---|
| Net income for the | reporting | period (as per the Statement | ||
| ofFinancial Activities) | (190,214) | 131,971.28 | ||
| Adjustment for: |
||||
| Depreciation charges |
18,844 | 8,968 | ||
| (Increase)/decrease | in debtors | 3,956 | 1,952 | |
| (Decrease)/increase | in creditors | 9,758 | 66,480 | |
| Net cash provided | by operations | (157,657) | 209,372 |
| At 1.6,21 | Cash flow | At 31.05.22 | |
|---|---|---|---|
| Net cash | |||
| Cash at bank | 268,160 | (204,383) | 63,777 |
| 268,160 | (204,383) | 63,777 | |
| Total | 268,160 | (204,383) | 63,777 |
| INCOME | ||||
|---|---|---|---|---|
| 31.05.2022 | 31.05.2021 | |||
| Social housing lenings |
2,256,679 | 1,298,071 | ||
| Management charges |
27,411 | 23,773 | ||
| Furlough grant |
20,828 | 67451.34 | ||
| Rental income | 12,055 | 20,273 | ||
| Miscellaneous income |
11,983 | 16,462 | ||
| 2,328,956 | 1.426,031 | |||
| INVESTMENT INCOME | ||||
| Bank account interest | ||||
| CHARITABLE ACTIVITIES COSTS | ||||
| Direct | 31.05.2022 | 31.05.2021 | ||
| costs | Total | Total | ||
| f | ||||
| Charitable activities |
2,178,935 | 2,178,935 | 1,076,491 | |
| SUPPORT COSTS | ||||
| Management | Governance | 31.05.2022 | 31.05.2021 | |
| Other resources expended | ||||
| Charitable activities |
334,593 | 334,593 | 211,712 | |
| Bank charges | 142 | 142 | 1,357 | |
| Auditor's fee |
5,500 | 5,500 | 4,500 | |
| 334,735 | 5,500 | 340,235 | 217,569 | |
| NET INCOME (EXPENDITURE) | ||||
| Net income (expenditure) | is stated after chargingycrediiing | |||
| 31.05.2022 | 31.05.2021 | |||
| 8 | ||||
| Auditor's remuneration |
5,500 | 4,500 | ||
| Depreciation - owned assets |
18,844 | 8968 |
| STAFF CO | STS | |||||
|---|---|---|---|---|---|---|
| 31.05.2022 | 31.05.2021 | |||||
| Wages and salaries | 149,807 | 94,849 | ||||
| Social security | 11,248 | 9,474 | ||||
| Other pension costs | 5,119 | 6,423 | ||||
| 166,173 | I I0,746 | |||||
| The average | monthly | number ofemployees | during | the year was as follows: | ||
| 31.05.2022 | 31.05.2021 | |||||
| Administration | 8 | 6 | ||||
| Support | 3 | 2 | ||||
| Volunteers | 2 | |||||
| 13 |
| Unrestricted | Unrestricted | |||||
|---|---|---|---|---|---|---|
| fund | fund | |||||
| 2022 | 2021 | |||||
| INCOME AND ENDOWMENT | FROM | |||||
| Income | 2,328,956 | 1,426,03 1 | ||||
| Investment income (Bank interests |
received) | |||||
| 2,328,956 | 1,426,031 | |||||
| EXPENDITURE ON | ||||||
| Charitable activities |
||||||
| Charitable activities |
2,178,935 | 1,076,491 | ||||
| Supportcosts | 340,235 | 217,569 | ||||
| 2,519,170 | 1,294,060 | |||||
| NET INCOME | (190,214) | 131,971 | ||||
| RECONCILIATION | OF FUNDS | |||||
| Total finds brought | forward | 218,417 | 86,446 | |||
| TOTAL FUNDS CARRIED FORWARD | 28,203 | 218,417 | ||||
| TANGIBLE FIXED | ASSETS | |||||
| Plant & | Furniture | Motor | ||||
| machinery | & fittings | vehicle | Totals | |||
| f | g | |||||
| COST | ||||||
| At 1 June 2021 |
1,460 | 2,517 | 27,940 | 31,917 | ||
| Addition | 2,348 | 0 | 59,324 | 61,672 | ||
| Disposal/Scrapped | (1,460) | (927) | (19,929) | (22,316) | ||
| At 31 May 2022 | 2,348 | 1.590 | 67,335 | 71,273 | ||
| DEPRECIATION | ||||||
| At 1 June 2021 |
1,460 | 1,457 | 6,985 | 9,902 | ||
| Charge for the year | 783 | 530 | 17,531 | 18,844 | ||
| Disposal/Scrapped | (1.460) | (927) | (4,982) | (7,369) | ||
| At 31 May 2022 | 783 | 1,060 | 19,534 | 21377 | ||
| NET BOOKVALUE | ||||||
| At 31 May 2022 | 1,565 | 530 | 47,801 | 49,896 | ||
| At 31 May 2021 | 1,060 | 20,955 | 22,015 |
| 11. | DEBTORS:AMOUNT FALLING | DEBTORS:AMOUNT FALLING | DEBTORS:AMOUNT FALLING | DUE WITHIN ONE YEAR | DUE WITHIN ONE YEAR | DUE WITHIN ONE YEAR | DUE WITHIN ONE YEAR | ||
|---|---|---|---|---|---|---|---|---|---|
| 31.05.2022 | 31.05.2021 | ||||||||
| f | |||||||||
| Trade debtors | (Rental income) | 3,956 | |||||||
| Accrued income (Gift aid) | |||||||||
| 3,956 | |||||||||
| 12. | CREDITORS: AMOUNT | FALLING DUE | WITH ONE YEAR | ||||||
| 31.05.2022 | 31.05.2021 | ||||||||
| Trade creditors | 9,423 | ||||||||
| Nct obligation | under leasing | contracts | and hire purchase | liabilities | 1,944 | 2956 | |||
| Accrued expenses (Auditor's | fee) | 5,500 | 4,500 | ||||||
| 7,444 | 16,879 | ||||||||
| 13. | CREDITORS: AMOUNT | FALLING DUE | AFTER | MORE THAN ONE YEAR | |||||
| 31.05.2022 | 31.05.2021 | ||||||||
| Recovery loan | scheme | 40,708 | 50,000 | ||||||
| Net obligation | under leasing | contracts | and hire | purchase | liabilities | 37,318 | 8,834 | ||
| 78,027 | 58,834 | ||||||||
| 14. | MOVEMENT | IN FUNDS | |||||||
| Net | |||||||||
| At 01.06.21 | movement | At 31.05.22 | |||||||
| in funds | |||||||||
| Unrestricted funds |
|||||||||
| General fund |
218,417 | (190,214) | 28,203 | ||||||
| TOTAL FUNDS | 218,417 | (190,214) | 28,203 | ||||||
| Comparative net movement |
in funds, included | in the above are as | follows: | ||||||
| Incoming | Resources | Movement | |||||||
| resources | expended | in fund | |||||||
| f | f | ||||||||
| Unrestricted funds |
|||||||||
| General fund |
2,328,956 | (2,519,170) | (190,214) | ||||||
| TOTAL FUNDS | 2,328,956 | (2,519,170) | (190,214) |
| 31.05.2022 | 31.05.2021 | ||||
|---|---|---|---|---|---|
| INCOME AND ENDOWMENTS | f | f | |||
| Income | |||||
| Housing benefits |
2,256,679 | 1,298,071 | |||
| Service charge | 27,411 | 23,773 | |||
| Furlough scheme |
20,828 | 67,451 | |||
| Rental income | 12,055 | 20,273 | |||
| Misc. income | 11,983 | )6,462 | |||
| 2,328&956 | 1,426,031 | ||||
| Investment income |
|||||
| Bank interest received | |||||
| Total incoming resources |
2,328,956 | 1,426,031 | |||
| EXPENDITURE | |||||
| Charitable Expenditure |
|||||
| Property Lease | 1,567,721 | 718,100 | |||
| Property Maintenance | 267,782 | 189,210 | |||
| Tenant's Wefare |
251,028 | 104,463 | |||
| Council Tax | 48,251 | 23,796 | |||
| Light & Heat | 44,153 | 40,923 | |||
| 2,178,935 | 1.076,49) | ||||
| Management & Administration |
expenses | ||||
| StaffCosts | 206,334 | 149,846 | |||
| Accountancy Fees |
13,676 | 7,000 | |||
| Business Licenses and Permits | 1&200 | ||||
| Computers &Software | 3,415 | 9,395 | |||
| IT, Broadband &Internet | 1,489 | 2,532 | |||
| Office Supplies, Postage &Stationery |
5,027 | 3,970 | |||
| Rent - OAice | 21,647 | 16,516 | |||
| Student internship | 1,550 | ||||
| Subscriptions | 445 | 2.058 | |||
| Telephone Expenditure |
189 | 305 | |||
| Training and Recruitment |
Costs | 25,595 | I I I | ||
| Hospitality &Refreshment | 5,668 | ||||
| Insurance | 6,378 | 5,172 | |||
| Consultancy | 10,500 | 3,450 | |||
| Legal &Professional | fees | 18,203 | 884 | ||
| Volunteer's Expenses |
1,600 | ||||
| Miscellaneous Expenses |
11,519 | 9,552 | |||
| Surplus/deficit on disposal |
ofassets | (I,l53) | (8,047) | ||
| Depreciation | 1,313 | 8,968 | |||
| 334,593 | 211,712 | ||||
| Finance | |||||
| Bank Charges | 142 | 1,357 | |||
| Governance | |||||
| Audit fee | 5,500 | 4,500 | |||
| Total resources expended | 2,519,170 | 1,294,060 | |||
| Net income/expenditure | (190,214) | )3l,971 |