## ## ## |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 tothe Financial||Statements|||16-24| ## ## ## ## |Mr ACross||| |---|---|---| |Mrs J Boyd||| |MrJCrackett (retired 5||March 22)| |Mr H Milward||| |Mr RAuger||| |Dr R Hatts||| |Mr D Perrin||| |Mr A Haslewood|(resigned 24 May 2021)|| |Mrs C Holmes||| |Mr GWoods (retired 28 March 22)||| |Mr B Newman||| |Mr
I Davies (appointed||20 January 2021)| |Mr N Prosser (appointed||28 April 2021)| |Mrs A Thorn (appointed||24 May 2021)| |Mr RGough (appointed||24 May 2021)| |Mrs G Device (appointed 19January 2022)||| |MrTHunt (appointed 28 March 22)||| |Mr N Prosser||| |Drapers Place||| |Horsefair||| |Abbey Foregate||| |Shrews bury||| |SY26BP||| |WR Partners||| |Belmont House||| |Shrewsbury
Business Park||| |Shrewsbury||| |Shropshire||| |SY2SLG||| |Hatchers Solicitors||| |Welsh Bridge||| |1 Frankwell||| |Shrewsbury||| |Shropshire||| |SY38JY||| |Lloyds PLC||| |Pride Hill Branch||| |Shrews bury||| |Shropshire||| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |variance analysis. Performance
metric
for future planning
and budgeting.|s are reviewed
on both|asite and h| |---|---|---| |Financial performance|2021|2022| |New Supply|Nil|Nil| |Gearing|22%|23%| |Interest Cover|378%|345O/o| |Social housing cost per unit|E2,977|E2,677| |Operating
margin|6OA|9'/o| |Return on Capital Employed|4%|2%| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||||2021|2020| |---|---|---|---|---| ||||Total|Total| |||Note||6| |Turnover|||277,883|270,404| |Cost ofsales|||(151,827)|(136,548)| |Gross surplus|||126,056|133,856| |Administrative
expenditure|||(28,242)|(35,472)| |Operating
surplus|before depreciation||97,814|98,384| |Depreciation|||74,240|75,323| |Operating
suplus after depreciation|||23,574|23,061| |Investment
portfolio|income and gains||144,173|68,590| |Interest receivable and similar income|||24|78| |Interest payable
and|similar charges||(25,875)|(28,529)| |Surplus/(Degcit)
on ordinary activities and
total comprehensive
Income forthe year|||141,896|63,200| ## ## ## |||||2021|2020| |---|---|---|---|---|---| ||||ivoie|6|6| |Fixed assets|||||| |Tangible fixed assets|||12|3,669,329|3,731,733| |investments|||13|1,116,348|969,605| |||||4,785,677|4,701,338| |Current assets|||||| |Debtors|||14|110|1,453| |Cash at bank and in|hand|||333,224|296,531| |||||333,334|297,984| |Creditors: amounts|falling due within one year||15|(102,500)|(73,614)| |Net current assets||||230,834|224,370| |Creditors: amounts|falling due after more than one year||16|(829,343)|(880,436)| |Total net assets||||4,187,168|4,045,272| |Reserves|||||| |Income and expenditure||reserve|18a|1,250,504|1,067,709| |Revaluation
reserve|||18b|851,572|878,572| |Restricted reserve|||18c|578,285|591,285| |Endowment
reserve|||18d|1,339,807|1,337,706| |Designated
reserve|||16a|167,000|170,000| |Total Reserves||||4,187,168|4,045.272| ## ## |ear Ended 31D|ecember 2021|||||| |---|---|---|---|---|---|---| ||income &|||||| ||expenditure|Revaluation|Designated|Restricted|Endowment|Total| ||reserve
f|reserve
f|fsselve
f|reserve
f|reserve
f|f| |At 1January||||||| |2021|1,067,709|878,572|170,000|591,285|1,337,706|4,045,272| |Surplus i (deficit)||||||| |forthe year|141,896|||||141,896| |Internal transfers|3,000||(3,000)|||| |Depreciation|68,500|(27,000)||(13,000)|(28,500)|| |Capital
repayments|(30,601)||||30,601|| |At 31 December|1,250,504|851,572|167,000|578,285|1,339,807|4,187,168| |2021||||||| ## ## |||||2021|2020| |---|---|---|---|---|---| ||||Nate|6|| |Cash flow from operating|activities||19|114,981|96,112| |Net cash flow from operating
activities||||114,981|96,112| |Cash flow from investing|activities||||| |Payments to acquire tangible||fixed asset||(11,836)|(1,920)| |Transfers
in (refer to note)|||||| |Interest received||||24|78| |Net cash flow from investing||activities||(11,812)|(1,842)| |Cash flow from financing|acbvities||||| |Interest paid||||(25,875)|(28,529)| |Loans received/(repaid)||||(40,601)|(38,828)| |Net cash flow from nnancing||activities||(66,476)|(67,357)| |Net increase/(decrease)
In cash and cash equivalents||||36,693|26,913| |Cash and cash equivalents||at 1January 2021||296,531|269,618| |Cash and cash equivalents||at31 December 2021||333,224|296,531| |Cash and cash equivalents||consists of:|||| |Short term deposits||||333,224|296,531| |Cash and cash equivalents||at31December 2021||333,224|296,531| |The notes on pages 16to 24|form pari ofthese financial statements.||||| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |3|Cost ofsales||||||| |---|---|---|---|---|---|---|---| |||||||2021f|2020f| ||Repairs and maintenance|||||76,162|59,828| ||Warden
and Almshouse||Manager's|salaries and telephone||31,028|31,674| ||Electricity|||||14,712|18,249| ||Insurance|||||7,318|7,384| ||Water rates|||||3,050|2,277| ||Cleaning
and sundries|||||6,738|5,880| ||Garden upkeep|||||10,836|9,735| ||Alarm system|||||1,983|1,521| ||Social Housing
activity|expenditure||(note 5)||151,827|136,548| ||Fundraising
expenditure||||||| |||||||151,827|136,548| |4|Administrative
expenditure||||||| |||||||2021f|2020| ||Management
and administration|||||14,096|12,249| ||Legal and professional|fees|||||3,474| ||Auditors
remuneration|—current year||||5,860|5,520| ||Project development
costs|||||8,286|14,229| |||||||28,242|35,472| |5|Social housing
turnover||and costs||||| |||||||2021f|2020f| ||Maintenance
contributions
receivable||||excluding service charges|246,408|243,204| ||Social housing
activity|expenditure||||(151,827)|(136,548)| ||Operating
surplus
from||social housing||activities|94,581|106,656| ## ## ## |Ye|ar Ended 31December 2|ar Ended 31December 2|021|021|||| |---|---|---|---|---|---|---|---| |6|Accommodation
owned||and in management||||| |||||||Number of|Number of| |||||||units at|units at| |||||||31|31| |||||||December|December| |||||||2021|2020| ||Owned and in management||||||50| ||Unowned
and in management||||||1| |||||||51|51| |7|Investment|porffotio movements|||||| |||||||2021|2020| ||||||||6| ||Profit/(loss)|on the disposal ofinvestments||||81,828|(9,002)| ||Gain on revaluation
ofinvestments|||||52,301|67,407| ||Income from investments|||||22,382|18,129| ||Investment|management|costs|||(12,338)|(7,944)| |||||||144,173|68,590| |8|Interest and|other finance income and charges|||||| |||||||2021|2020| |||||||6|| ||Bank interest receivable|||||24|78| |||||||24|78| |9|Surplus on|ordinary activities|||||| ||Surplus on ordinary
activities is stated after charging||||/ (crediting):||| |||||||2021f|2020| ||Auditor's
remuneration|||||5,860|5,520| ||Profit/(Loss)|on fair value|movement|ofinvestments||52,301|58,405| ## ## ## ## ## |Tangible gxed assets —housing
prope|rties|||| |---|---|---|---|---| ||Housing
ptopsfhss|Fixtures and|Total|| ||sontpletsd
6|tltgngsf||| |Cost:||||| |At 1 January 2021|5,427,575|38,150|5,465,725|| |Additions||11,836|11,836|| |Transfers||||| |At 31 December 2021|5,427,575|49,986|5,477,561|| |Depreciation:||||| |At 1 January 2021|1,713,255|20,737|1,733,992|| |Charge for year|68,500|5,740|74,240|| |At 31December 2021|1,781,755|26,477|1,808,232|| |Net book value:||||| |At 31December 2021|3,645,820|23,509|3,669,329|| |At 31December 2020|3,714,320|17,413|3,731,733|| |The net book value ofland and buildings|comprised:|||| ||||2021|2020| ||||6|6| |Land and buildings:||||| |Freehold|||3,645,820|3,714,320| ||||3,645,820|3,714,320| ## ## ## ## |||||||Listed| |---|---|---|---|---|---|---| |||||||investments| |||||||6| ||At 1 January 2021|||||969,605| ||Dividends
received|||||22,382| ||Profit on disposals|||||81,828| ||Management|fees||||(9,768)| ||Revaluation|||||52,301| ||At 31 December 2021|||||1,116,348| |14|Debtors|||||| ||||||2021|2020| ||||||g|g| ||Other debtors||||110|1,453| ||||||110|1,453| |15|Creditonn
amounts||falling due within one year|||| ||||||2021|2020| ||||||5|g| ||Other creditors||||34,003|23,500| ||Accruals and deferred|||income|26,051|9,510| ||Bank loan||||31,096|30,604| ||Other loan||||10,000|10,000| ||Taxation and social||security||1,350|| ||||||102,500|73,614| ## |||2021|2020| |---|---|---|---| |||g|5| |Bank|loan|789,343|820,436| |Other|creditors||10,000| |Other|loan|40 DDD|50000| |||829,343|880,436| ## ## |Credi
Bank|tors: amounts
falling due after more tha
loans are repayable as follows:|n one year (continued)|| |---|---|---|---| |||2021|2020| ||||8| |One|to two years|32,037|31,557| |Two|tofive years|102,402|100,462| |Five|years ormore|654,904|688,417| |||789,343|820,436| ## ## ## |18|Reserves (continued)|| |---|---|---| ||c) Restricted reserve|2021| |||6| ||At 1 January 2021|591,285| ||Internal
transfer|(13,000)| |||578,285| ||At 31 December 2021|| ## ## |19|Reconciliation ofoperating
surplus tocash flow from operating|acgvtties|| |---|---|---|---| |||2021
6|2020f| ||Surplus/(Deficit)
for the year|141,896|63,200| ||Interest payable
Interest received
Depreciation oftangible fixed assets
Revaluation
offixed asset investments
(Gain)/Loss
on sale offixed asset investments
Income from investments
Increase
/ (decrease)
in creditors
Investment
management
fees
Decrease
/ (increase)
in debtors|25,875
(24)
74,240
(52,301)
(81,828)
(22,382)
18,394
9,768
1,343|28,529
(78)
75,323
(67,407)
9,002
(18,129)
(8,375)
7,944
6,103| ||Net cash flow from operating
acdvities|114,981|96,112| ##