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|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|
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|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||||
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||||||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|
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|||||||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|
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||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|
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||||||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.||||||
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|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|
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|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|
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|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|
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|||||||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|
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|||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|
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|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|
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|||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|
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|) 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|
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||||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|
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