2022-12-31-accounts

Registered Social Housing Provider	Registered Social Housing Provider	Information	1
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		16-25

variance analysis. Performance metric for future planning and budgeting.	s are reviewed on both	asite and h
Financial performance	2022	2021
New Supply	Nil	Nil
Gearing	21'Yo	22%
Interest Cover	313%	378%
Social housing cost per unit	23,025	22,977
Operating margin	f 1o/	8'/
Return on Capital Employed		4%

					2022	2021
				Nots	2	6
Fixed assets
Tangible fixed assets				12	3,598,505	3,669,329
Investments				13	959,713	1,116,348
					4,558,218	4,785,677
Current assets
Debtors				14	853	110
Cash at bank and in		hand			332,882	333,224
					333,735	333,334
Creditors:	amounts	falling due within one year		15	(65,149)	(102,500)
Net current	assets				268,586	230,834
Creditors:	amounts	falling due after more than one year		16	(799.346)	(829,343)
Total net assets					4,027,458	4,187,168
Reserves
Income and	expenditure		reserve	18a	1,167,641	1,250,504
Revaluation	reserve			18b	824,572	851,572
Restricted reserve				18c	565,285	578,285
Endowment	reserve			18d	1,339,960	1,339,807
Designated	reserve			18a	130,000	167,000
Total Reserves					4,027,458	4,187,168

Year E	nded 31D	ecetnber 2022
		Income 6
		expenditure	Revaluation	Designated	Restricted	Endowment	Total
		reserve	reserve	reserve	reserve	reserve
		2	8	8		2	2
At 1 January
2022		1,250,504	851,572	167,000	578,265	1,339,807	4,187,168
Surplus	I(deficit)
for the	year	(159,710)					(159,710)
Internal	transfers	37,000		(37,000)
Depreciation		68,500	(27,000)		(13,000)	(28,500)
Capital repayments		(28,653)				28,653
At 31 December		1,167,641	824,572	130,000	565,285	1,339,960	4,027,458
2022

			2022	2021
		Note	2	2
Cash flow from operating	activities	19	107,248	114,981
Net cash flow from operating activities			107,248	114,981
Cash flow from investing	activities
Payments tc acquire tangible fixed asset Transfers in (refer to note)			(6,086)	(11,836)
Interest received			125	24
Net cash flow from investing activities			(5,961)	(11,812)
Cash flow from financing	activities
Interest paid			(34,477)	(25,875)
Loans received/(repaid)			(67,152)	(40,601)
Net cash flow from financing activities			(101,629)	(66,476)
Net increase/(decrease) in	cash and cash equivalents		(342)	36,693
Cash and cash equivalents	at 1January 2022		333,224	296,531
Cash and cash equivalents	at31 December 2022		332,882	333,224
Cash and cash equivalents	consists of:
Short term deposits			332,882	333,224
Cash and cash equivalents	at 3f December 2022		332,882	333,224

									2021
									2
Social Housing			turnover			(note 5)		253,716	246,408
Fundraising		income						13,359	16,935
Other income								18,688	15,540
								285,763	277,883
Cost ofsales
								2022	2021
								6	2
Repairs and		maintenance						72,451	76,162
Staff salaries								29,954	28.872
Telephone								2,002	2.156
Energy								17,618	14,712
Insurance								7,804	7,318
Water rates								2.924	3,050
Cleaning and		sundries						5,287	6,738
Garden upkeep								11,518	10,836
Alarm system								4,727	1,983
Social Housing			activity		expenditure		(note 5)	154,285	151,827
Fundraising	expenditure
								154,285	151,827
dministrative			expenditure
								2022	2021
								2	2
Management		and administration						13,050	14,096
Legal and professional					fees
Auditors remuneration					—current year			6,622	5,880
Project development				costs				3,857	8,286
								23,529	28,242

5	Social housing	Social housing	turnover		and costs
							2022	2021
								f
	Maintenance		contributions		receivable	excluding service charges	253,716	246,408
	Social housing		activity expenditure				(154,285)	(151,827)
	Operating	surplus from		social housing		activities	99,431	94,581
6	Accommodation owned			and in management
							Number of	Number of
							units at	units at
							31	31
							December	December
							2022	2021
	Owned and in		management				50	50
	Unowned	and	in management				1	1
							51	51
7	Investment	portfolio movements
							2022	2021
							6
	Profit/(loss)	on	the disposal		of investments		41,539	81,828
	Gain on revaluation of investments						(213,413)	52,301
	Income from investments						24,735	22,382
	Investment	management		costs			(9,258)	(12,338)
							(156,397)	144,173
8	Interest and other finance				income and	charges
							2022	2021
							2	2
	Bank interest receivable						125	24
							125	24

Surplus on	ordinary	activities	is stated	after charging	/ (crediting):
						2022	2021
							2
Auditor's	remuneration					6,622	5,860
Profit/(Loss) on fair		value movement		of investments		~213,413	32,331

	Housing
	properttes	Fixtures end
	oolllpleted	ttntngs
	2	2
Cost:
At 1 January 2022	5,427,575	49,986	5,477,561
Additions		6,086	6,086
Transfers
At 31 December 2022	5,427,575	56,072	5,483,647
Depreciation:
At 1 January 2022	1,781,755	26,477	1,808,232
Charge for year	68,500	8,410	76,910
At 31 December 2022	1,850,255	34,887	1,885,142
Net book value:
At 31 December 2022	3,577,320	21,185	3,598,505
At 31 December 2021	3,645,820	23,509	3,669,329
The net book value of land and buildings	comprised:
			2022	2021
			2	2
Land and buildings:
Freehold			3.577,320	3,645,820
			3.577,320	3,645,820

		Listed
		investments
		2
At 1 January	2022	1,116,348
Dividends received		24,735
Profit on disposals		41,539
Revaluation		(213,413)
Management	fees	(9,496)
At 31 December 2022		959,713

		2022	2021
		2	8
Other creditors		2,719	503
Accruals and deferred	income	23,668	26,051
Bank loan		22,441	31,096
Other loan		15,000	43,500
Taxation and social security		1,321	1,350
		65,149	102,500

		2022	2021
		2
Bank Other	loan loan	769,346 30,000	789,343 40,000
		799,346	829,343

ank	loans falling due after more than one year	are repayable as follows:
		2022	2021
One Two	to two years to five years	23,519 81,623	32,037 102,402
Five	years or more	664,204	654,904
		769,346	789,343

Ended 31D Reserves	ecember 2022
a) Unrestricted	reserves
		Income &
		expenditure	Designated
		reserve	reserve
		8	2
At 1 January	2022	1,250,504	167,000
Surplus I(deficit)		(159,710)
Internal transfer		76,847	(37,000)
		1,167,641	130,000

b) Revaluation	reserve
		2022
		2
At 1 January	2021	851,572
Internal transfer		(27,000)
		824,572

) Restd	cted reserve
		2022
		2
At 1 January 2022		578,285
Internal	transfer	(13,000)
		565,285
At 31 December 2022

19	Reconciliation ofoperating surplus tocash flow from operating activities	Reconciliation ofoperating surplus tocash flow from operating activities
			2021
			2
	Surplus/(Deficit) for the year	(159,710)	141,896
	Interest payable Interest received Depreciation oftangible fixed assets	34,477 (125) 76,910	25,875 (24) 74,240
	Revaluation offixed asset investments (Gain)/Loss on sale offixed asset investments	213,413 (41,539)	(52,301) (81,828)
	Income from investments	(24,735)	(22,382)
	Increase / (decrease) in creditors Investment management fees Decrease / (increase) in debtors	(196) 9,496 (743)	18,394 9,768 1,343
	Net cash flow from operating activities	107,248	114,981