2020-12-31-accounts

Contents
						Page
Registered	Social Housing			Provider	Information
Board Report						2-8
Independent		Auditor's	Report			9-11
Statement	of	Comprehensive		Income		12
Balance Sheet						13
Statement	of	Changes	in Reserves			14
Statement	of	Cash Flows				15
Notes to the		Financial	Statements			16-24

Members	ofthe Board	Dr TTaylor (resigned	Dr TTaylor (resigned	18/5/20)	18/5/20)
		Mr A Cross
		Mrs J Boyd
		MrJ Crackett
		Mr H Milward
		Mr RAuger
		Mr R Jenkins (resigned		18/5/20)
		Dr R Hatts
		Mr D Perrin
		Mrs M R Bone	(resigned		18/5/20)
		Mr A Haslewood
		Mrs C Holmes
		Mr G Woods
		Mr B Newman	(appointed		18/5/20)
		Mr I Davies (appointed		20/1/21)
		Mr N Prosser (appointed			28/4/21)
Secretary		Mr G Woods (resigned		28/4/21)
		Mr N Prosser (appointed			28/4/21)
Registered	office	Drapers Place
		Horsefair
		Abbey Foregate
		Shrewe bury
		SY26BP
Auditor		WR Partners
		Belmont House
		Shrewsbury Business		Park
		Shrewsbury
		Shropshire
		SY26LG
Solicitor		Hatchers Solicitors
		Welsh Bridge
		1 Frankwell
		Shrewsbury
		Shropshire
		SY38JY
Bankers		Lloyds PLC
		Pride Hill Branch
		Shreweb ury
		Shropshire

					2020	2019
					Total	Total
				Nol&	6
Turnover					270,404	276,472
Cost ofsales					(136,548)	(113,886)
Gross surplus					133,856	162,586
Administrative expenditure					(118,739)	(115,598)
Operating surplus					15,117	46,988
Income from fixed	asset investments				18,129	15,843
					78	70
Interest receivable	and similar		income
Interest payable and similar charges					(28,529)	(33,533)
Gain/(loss) on revaluation		ofinvestments			67,407	79,064
Gain/(loss) on disposal of		investments			(9,002)	22,260
Surplus/(Deficit) on ordinary total comprehensive income			activities and for the year		63,200	130,692

						2020	2019
					Note	E	E
Fixed assets
Tangible fixed assets					11	3,731,733	3,805,136
Investments					12	969,605	901,015
						4,701,338	4,706,151
Current assets
Debtors					13	1,453	7,556
Cash at bank and		in	hand			296,531	269,618
						297,984	277,174
Creditors:	amounts		falling due within one year		14	(73,614)	(55,263)
Net current	assets					224,370	221,911
Creditors:	amounts		falling due after more than one year		15	(880,436)	(945,990)
Total net assets						4,045,272	3,982,072
Reserves
Income and	expenditure			reserve	16a	1,067,709	973,799
Revaluation	reserve				16b	878,572	932,177
Restricted reserve					16c	591,285	604,785
Endowment	reserve				16d	1,337,706	1,294,032
Designated	reserve				16a	170,000	177,279
Total Reserves						4,045,272	3,982,072

	Income S
	expenditure	Revaluation	Designated	Restricted	Endowment	Total
	reserve	reserve	reserve	reserve	reserve
	6	6	6	6	9	6
At 1 January 2020	973,799	932,177	177,279	604,785	1,294,032	3,982,072
Surplus I(deficit) for the year	63,200					63,200
Internal transfers	30,710	(53,605)	(7,279)	(13,500)	43,674
2020		878,572	170,000	591,285	1,337,706	4,045,272

					2020	2019
				Note		6
Cash flow from operating	activities			17	96,112	112,859
Net cash flow from operating			activities		96,112	112,859
Cash flow from investing	activities
Payments to acquire tangible		fixed asset			(1,920)
Transfers in (refer to note)				18		81,110
Interest received					78	70
Net cash flow from investing			activities		(1,842)	81,180
Cash flow from financing	activities
Interest paid					(28,529)	(33,533)
Loans received/(repaid)					(38,828)	(22,561)
Net cash flow from financing			activities		(67,357)	(56,094)
Net increase/(decrease) in cash and cash equivalents					26,913	137,945
Cash and cash equivalents		at	1January 2020		269,618	131,673
Cash and cash equivalents		at	31 December 2020		296,531	289,618
Cash and cash equivalents		consists of:
Short term deposits					296,531	269,618
Cash and cash equivalents		at	31December 2020		296,531	269,618
The notes on pages 16to 24	form part ofthese financial statements.

3	Cost ofsales
					2020	2019
					E	8
	Repairs and maintenance Warden and Almshouse Manager's Electricity Insurance	salaries and		telephone	59,828 31,674 18,249 7,384	37,715 29,477 13,114 6,406
	Water rates				2,277	2,355
	Cleaning and sundries Garden upkeep Alarm system Social Housing activity expenditure	(note 5)			5,880 9,735 1,521 136,548	6,851 11,604 2,499 110,021
	Fundraising expenditure					3,865
					136,548	113,886
4	Administrative expenditure
					2020	2019
						8
	Investment management costs Management and administration Legal and professional fees Auditors remuneration —current year				7,944 12,249 3,474 5,520	5,709 12,269 16,987 5,310
	Project development costs Depreciation				14,229 75,323	75,323
					118,739	115,598
5	Social housing turnover and costs				2020	2019
					8	f
	Maintenance contributions receivable		excluding	service charges	243,204	235,167
	Social housing activity expenditure				(135,357)	(110,021)
	Operating surplus from social housing		activities		107,847	125,146

6	Accommodation	Accommodation	Accommodation		owned and in management	owned and in management	owned and in management	owned and in management
										Number	of	Number of
										units	at	units at
										31		31
										December		December
										2020		2019
	Owned	and in		management							50	50
	Unowned		and	in	management						1	1
											51	51
7	Interest	and other			finance		income and charges
										2020		2019
											E	6
	Bank interest receivable										78	70
											78	70
8	Surplus	on ordinary				activities
	Surplus on		ordinary			activities	is stated after charging		/ (crediting):
										2020		2019
	Auditor's		remuneration								5,520	5,310
	Profitf(Loss) on			fair		value movement		of investments		58,405		101,324

Tangible fixed assets —housing prope	rties
	Housing properties	Fixtures and	Total
	oompleted f	fittingsf
Cost:
At 1 January 2020	5,425,655	38,150	5,463,805
Additions	1,920		1,920
Transfers
At 31 December 2020	5,427,575	38,150	5,465,725
Depreciation: At 1 January 2020	1,643,655	15,014	1,658,669
Charge for year	69,600	5,723	75,323
At 31 December 2020	1,713,255	20,737	1,733,992
Net book value:
At 31 December 2020	3,714,320	17,413	3,731,733
At 31 December 2019	3,782,000	23,136	3,805,136
The net book value of land and buildings	comprised:
			2020	2019
			6	6
Land and buildings:
Freehold			3,714,320	3,782,000
			3,714,320	3,782,000

						Listed
						investments
						8
	At 1 January 2020					901,015
	Dividends received					18,129
	(Loss) on disposals Management fees					(9,002) (7,944)
	Revaluation					67,407
	At 31 December 2020					969,605
13	Debtors
					2020	2019
					8	8
	Other debtors				1,453	7,556
					1,453	7,556
14	Creditors: amounts		falling due within one year
					2020	2019
					8	8
	Other creditors				23,500	10,000
	Accruals and deferred			income	9,510	7,885
	Bank loan				30,604	27,378
	Other loan				ID ODII	ID QQO
					73,614	55,263

		2020	2019
		8
Bank	loan	820,436	852,490
Other	creditors	10,000	33,500
Other	loan	55 QQO	60,000
		880,436	945,990

Credi	tors: amounts falling due after more than one y	ear (continued)
Bank	loans are repayable as follows:	2020	2019
		F
One Two Five	to two years to five years years or more	31,557 100,462 688,417 820,436	28,514 92,158 731,818 852,490

		Income L
		expenditure	Designated
		reserve 6	reserve f
At 1 January 2020		973,799	177,279
Surplus Internal	/(deficit) transfer	63,200 30,710	(7,279)
		1,067,709	170,000

) Revaluation reserve
	2020
	8
At 1 January 2020 Internal transfer	932,177 (53,605)
	878,572

) Restricted reserve
	2020
At 1 January 2020	604,785
Internal transfer	(13,500)

d) Endowed reserves
	2020
	6
At 1 January 2020	1,294,032
Internal transfer	43,674
At 31 December 2020	1,337,706

			2020f	2019 f
Surplus/(Deficit) for	the year		63,200	130,692
Interest payable			28,529	33,533
Interest received			(78)	(70)
Depreciation oftangible fixed assets			75,323	75,323
Revaluation offixed asset investments			(67,407)	(79,064)
Loss on sale offixed	asset investments		9,002	(22,260)
Income from investments			(18,129)	(15,843)
Increase / (decrease)	in creditors		(8,375)	(10,735)
Investment management fees			7,944	5,709
Decrease / (increase)	in debtors		6,103	(4,426)
Net cash flow from	operating	activities	96,112	112,859