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|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|
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|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%|
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||||||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|
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|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||||||||
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||||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|
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||||||||||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|
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|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|
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|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|
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||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|
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|||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|
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|||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|
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|||2022|2021|
|---|---|---|---|
|||2||
|Bank
Other|loan
loan|769,346
30,000|789,343
40,000|
|||799,346|829,343|
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|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|
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|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|
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|) Restd|cted reserve||
|---|---|---|
|||2022|
|||2|
|At 1 January 2022||578,285|
|Internal|transfer|(13,000)|
|||565,285|
|At 31 December 2022|||
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|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|
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