| PAGE | |
|---|---|
| REFERENCE AND ADMINISTRATIVE DETAILS | |
| REPORT OFTHE TRUSTEES | 2-6 |
| AUDITOR'S REPORT | 7-9 |
| STATEMENT OF FINANCIAL ACTIVITIES | 10 |
| BALANCE SHEET | |
| CASH FLOW STATEMENT | 12 |
| NOTES TO THE CASH FLOW STATEMENT | 13 |
| NOTES TO THE FINANCIAL STATEMENTS | 14-19 |
| DETAILED STATEMENT OF FINANCIAL ACTIVITIES | 20 |
| STATEMENT OF FI | NANCIAL A | CTIVITIES | |||
|---|---|---|---|---|---|
| 31.08.2022 | 31.08.2021 | ||||
| Unrestricted | Total | ||||
| fund | funds | ||||
| Notes | 0 | ||||
| INCOME AND KNDOWMKNTS | FROM | ||||
| Income | 3,804,672 | 3,423,651 | |||
| Investmentincome | 6 | 20 | |||
| 3,804,678 | 3,423,671 | ||||
| KXPKNDITURK ON | |||||
| Charitable activities |
|||||
| Charitable activities |
3,051,111 | 2,649, 190 | |||
| Support costs | 699,578 | 650,791 | |||
| Total | 3,750,689 | 3,299,981 | |||
| NKT INCOME | 53,989 | 123,690 | |||
| RECONCILIATION | OFFUNDS | ||||
| Total funds brought | forward | 814,799 | 691,110 | ||
| TOTAL FUNDS CARRIED FORWARD | 868,789 | 814,799 |
| BALANCESHEETASAT31AUGUST 2022 | |||
|---|---|---|---|
| 31.08.2022 | 3].08.2021 | ||
| Notes | Unrestricted | Total | |
| fund | 1'ands | ||
| FIXEDASSETS | 8 | ||
| Tangible assets |
10 | 361,025 | 376,837 |
| CURRENT ASSETS | |||
| Debtors | 6,316 | 6,768 | |
| Cash at bank and in hand | 528,548 | 441,394 | |
| 526,864 | 448,162 | ||
| CREDITORS | |||
| Amount falling due within one year |
12 | (19,100) | (10,200) |
| NET CURRENT ASSETS | ~II7,764 | 437,962 | |
| TOTAL ASSETSLESS CURRENT | |||
| LIABILITIES | 868,789 | 814,799 | |
| CREDITORS | |||
| Amount falling due after more than one year |
13 | ||
| NET ASSETS | 868,7$9 | 814,799 | |
| FUNDS Unrestricted funds |
868,789 | 814,799 | |
| TOTAL FUNDS | 868,7$9 | 814,799 |
| CASH FLOW STATEME | NT | ||||
|---|---|---|---|---|---|
| 31.08.2022 | 31.08.2021 | ||||
| 8 | |||||
| Note | |||||
| Cash flows from operating activities Cash generated from operations |
79&153 | 26,989 | |||
| Net cash provided by operating activities |
79,153 | 26,989 | |||
| Cash flows from investing Purchase oftangible fixed |
activities assets |
4,218 | |||
| Net cash used in investing | 4,218 | ||||
| Change in cash and cash equivalent the reporting period |
in | 79,154 | 22,77] | ||
| Cash and cash equivalent | at the | ||||
| beginning ofthe reporting | period | 441,395 | 418,623 | ||
| Cash and cash equivalent the reporting period |
at the end | of | 520,548 | 441,394 |
| RECONCILIATION OF NE ACTIVITIES |
T INCOME TO NET CASH FLOW F | ROM OPERATING | |
|---|---|---|---|
| 31.08.2022 | 31.08.2021 | ||
| Net income for the reporting ofFinancial Activities) |
period (as per tbe Statement | 53,989 | 123,690 |
| Adjustment for: Depreciation charges (Increase)/decrease in debtors (Decrease)/increase in creditors |
15,812 452 8,900 |
20,307 5,721 (122,729) |
|
| Net cash provided by operations |
79,153 | 26,989 |
| At 1.9.21 | Cash flow | At 31 .08.21 | |
|---|---|---|---|
| 8 | |||
| Net cash | |||
| Cash at bank | 441,394 | 79,154 | 520,548 |
| 441,394 | 79,154 | 520,548 | |
| Total | 441,394 | 79,154 | 520,548 |
| INCOME | |||||
|---|---|---|---|---|---|
| 31.08.2022 | 31.08.2021 | ||||
| Rental Income (Social Housing) | 3,743,504 | 3,362,918 | |||
| Service charge (Management) | 36)462 | 32,227.51 | |||
| Misc. Income | 24,706 | 28,505.22 | |||
| 3,804,672 | 3,423,651 | ||||
| INVESTMKNT INCOME | |||||
| Bank interest received | 20 | ||||
| CHARITABLE ACTIVITIES COSTS | |||||
| Direct | 31.08.2022 | 31.08.2021 | |||
| costs | Total | Total | |||
| Charitable activities |
3,051,111 | 3,051,111 | 2,649,190 | ||
| SUPPORT COSTS | |||||
| Management | Governance | 31.08.2022 | 31.08.2021 | ||
| Other resources expended | f | ||||
| Charitable activities |
691,884 | 691,$84 | 640,380 | ||
| Bank Charges | 194 | 194 | 103 | ||
| Mortgage Interest Audit fee |
7,500 | 7,500 | 3,808 6,500 |
||
| 692,078 | 7,501 | 699,578 | 650,791 | ||
| NET INCOME (EXPENDITURE) | |||||
| Net income (expenditure) | is stated atter charging/crediting | 31.08.2022 | 31.08.2021 | ||
| f | |||||
| Auditor's remuneration |
7,500 | 6,500 | |||
| Depreciation - owned assets | 15,$12 | 20,307 | |||
| Continued. .. |
| 7. | TRUSTEES REMUNERATION | TRUSTEES REMUNERATION | TRUSTEES REMUNERATION | AND BENEFITS | ||
|---|---|---|---|---|---|---|
| 31.08.2022 | 31.08.2021 | |||||
| Trustees' | salaries | 55,467 | 54,879 | |||
| Trustees' | Tax and National | insurance | 22,309 | 14,357 | ||
| 77,776 | 69,236 |
| STAFF COSTS | |||||
|---|---|---|---|---|---|
| 31.08.2022 | 31.08.2021 | ||||
| Wages and salaries | 326,136 | 351,575 | |||
| Tax and National insurance |
92,321 | 95,204 | |||
| Other pension costs | 11,200 | 14,758 | |||
| 429,657 | 461,536 | ||||
| The average monthly | number ofemployees | during the year was as follows: | |||
| 31.08.2022 | 31.08.2021 | ||||
| Average number ofemployees | 28 | 25 | |||
| No employee benefits exceed 660,000 during | the period. |
| Unrestricted | Unrestricted | ||||||
|---|---|---|---|---|---|---|---|
| fund | fund | ||||||
| 2022 | 2021 | ||||||
| INCOME AND ENDOWMENT | FROM | ||||||
| Rental Income (Social | Housing) | 3,804,678 | 3,423,671 | ||||
| Investment income (Bank interests |
received) | ||||||
| 3,804,678 | 3,423,671 | ||||||
| EXPENDITURE ON | |||||||
| Charitable activities |
|||||||
| Charitable activities |
3,051,111 | 2,649, 190 | |||||
| Support costs | 699,578 | 650,791 | |||||
| 3,750,689 | 3,299,981 | ||||||
| NET INCOME | 53,989 | 123,690 | |||||
| RECONCILIATION | OF FUNDS | ||||||
| Total finds brought | forward | Furniture | 814,799 | 691,110 | |||
| TOTAL FUNDS CARRIED FORWARD | 868,789 | 814,799 | |||||
| TANGIBLE FIXEDASSETS | |||||||
| Freehold | Motor | Office | |||||
| Property | Vehicle | &Fittings | Equipment | Totals | |||
| g | g | ||||||
| COST | |||||||
| At 1 September 2021 |
349,000 | 36,825 | 11,105 | 34,494 | 431,423 | ||
| Addition | |||||||
| At 31 August 2022 | 349,000 | 36,825 | 11,105 | 34,494 | 431,423 | ||
| DEPRECIATION | |||||||
| At 1 September 2021 Charge for the year |
6,980 3,490 |
18,086 5,337 |
11,105 | 18,416 6,985 |
54,587 15,812 |
||
| At 31 August 2022 | 10,470 | 23,423 | 11,105 | 25,401 | 70899 | ||
| NET BOOK VALUE | |||||||
| At 31 August 2022 | 338,530 | 13,402 | (0.36) | 9,093 | 361,025 | ||
| At 31 May 2021 | 342,020 | 18,739 | (0.36) | 16,078 | 376,837 |
| DEBTORS:AMOUNT FALLING DUE WITHIN O |
NE YEAR | |
|---|---|---|
| 31.08.2022 | 31.08.2021 | |
| Trade debtors (Rental income) | 6,316 | |
| Tax overpaid | 6,768 | |
| 6316 | 6,768 |
| 31.08.2022 | 31.08.2021 | ||||
|---|---|---|---|---|---|
| Trade | creditors | (Rental | income) | 19,100 | 10,200 |
| 19,100 | 10300 |
| MOVEMEN | T IN FUNDS | ||||||
|---|---|---|---|---|---|---|---|
| Net | |||||||
| At 01.09.21 | movement | At 31.08.22 | |||||
| in funds | |||||||
| Unrestricted | funds | ||||||
| General fund |
814,799 | 53,989 | 868,789 | ||||
| TOTAL FUNDS | 814,799 | 53,989 | 868,789 | ||||
| Comparative | net movement | in | funds, included | in the above are as follows: | |||
| Incoming | Resources | Movement | |||||
| resources | expended | in | fund | ||||
| f | 6 | ||||||
| Unrestricted | funds | ||||||
| General fund |
3,804,678 | (3,750,689) | 53,989 | ||||
| TOTALFUNDS | 3,804,678 | (3,750,689) | 53,989 | ||||
| CONTROLLING ENTITY | |||||||
| There is no | overall controlling | entity. |
| STATEMENT OF F | INANCI | AL ACTIVITIES | ||
|---|---|---|---|---|
| 31.08.2022 | 31.08.2021 | |||
| INCOME AND ENDOWMENTS | f | f | ||
| Income | ||||
| Rental Income (Social | Housing) | 3,743,504 | 3,362,918 | |
| Service charge (Management) | 36,462 | 32,228 | ||
| Misc. Income | 24,706 | 28,505.2 | ||
| 3,804,672 | 3,423,651 | |||
| Investment income |
||||
| Bank interest received | 20 | |||
| Total incoming resources |
3,804,678 | 3.423.673 | ||
| EXPENDITURE | ||||
| Charitable Expenditure |
||||
| Property rent &lease management | 2,157,668 | 1,674,605 | ||
| Property Maintenance | &Expenses | 353,501 | 493,377 | |
| Tenants Welfare | 252,795 | 225,023 | ||
| Project Work (Concierge) | 75,219 | 79,104 | ||
| Council Tax, rates and | HB overpayments | 109,093 | 113,540 | |
| Light &Heat | 102,836 | 63,542 | ||
| 3,051,111 | 2,649,190 | |||
| Management &Administration |
expenses | |||
| StaffCosts | 496,233 | 446,778 | ||
| Pension internet |
11,200 | 14,758 | ||
| Accountancy fee |
22,725 | 13,480 | ||
| Computer and Software |
7,968 | 6,853 | ||
| Consultancy | 27,400 | 43,877 | ||
| Insurance | 4,514 | 1,485 | ||
| ITand | 4,540 | 6,275 | ||
| Legal and Professional | Fees | 37,455 | 21,I52 | |
| Misc. Expenses | 2,528 | 1,729 | ||
| Travelling and Motor |
Running | Costs | 431 | 295 |
| Oftice Rent | 22,$00 | 22,800 | ||
| Offtce Supplies | 12,169 | 10,930 | ||
| Penalty and Licence |
133 | 146 | ||
| Postage and Carriage | 155 | |||
| Subscription | 1,486 | 407 | ||
| Telecommunication | 17,085 | 27,032 | ||
| Training | 481 | 2,077 | ||
| Bad Debt Written-off | 6,770 | |||
| Depreciation | 15,812 | 20,307 | ||
| 691,884 | 640,380 | |||
| Finance | ||||
| Bank Charges | 194 | 103 | ||
| Mortgage Interest | 3,808 | |||
| Governance | ||||
| Audit fee | 7,500 | 6,500 | ||
| Total resources expended | 3,750,6$9 | 3,299,981 | ||
| Net income/expenditure | 53,9$9 | 123,690 |
PAGE 20