| 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 | 20-21 |
| Trustee (and Directors) | Trustee (and Directors) | |
|---|---|---|
| The Trustees who served during the year were as set out below: | ||
| Danielle Tumler | ||
| Patricia Songhurst | ||
| Wesley Tom | ||
| Festus Osawaru | ||
| Executive Officer | ||
| Danielle Tumler | ||
| Registered and Principal OfHce |
||
| 45Hare Street | ||
| London | ||
| SE186NE | ||
| Charity registered | number | |
| 1134768 | ||
| Company registered |
number | |
| 6985746 | ||
| Registered provider | number | |
| 4641 | ||
| Auditors | ||
| Crean &Company Accountants | Limited | |
| Statutory audit firm |
||
| Lanesboro Street | ||
| Roscommon Town |
||
| Co Roscommon | ||
| Ireland F42 DA32 | ||
| Bankers | ||
| Barclays Bank Pic | ||
| 6Market Place | ||
| Bexleyheath | ||
| Kent DA6 7DY | ||
| Solicitors | ||
| Wellers Law Group LLP | ||
| Tenison House | ||
| Tweedy Road | ||
| Bromley | ||
| Kent BRI 3NF |
| 31.08.2023 | 31.08.2022 | ||||
|---|---|---|---|---|---|
| Unrestricted | Total | ||||
| fund | funds | ||||
| Notes | |||||
| INCOME | AND ENDOWMENTS FROM | ||||
| Income | |||||
| Investment | income | 4,349,323 | 3,804,672 | ||
| 54 | 6 | ||||
| 4449377 | 3,804,678 | ||||
| EXPENDITURE ON | |||||
| Charitable | activities | ||||
| Charitable | activities | ||||
| Support costs | 3,487,561 745,453 |
3,051,111 699,578 |
|||
| Total | |||||
| 4,233,015 | 3,750,689 | ||||
| NET INCOME | 116,363 | 53,989 | |||
| RECONCILIATION | OFFUNDS | ||||
| Total funds | brought forward | 868,789 | 814,799 | ||
| TOTAL FUNDS CARRIED FORWARD | 985,151 | 868,789 |
| BALANCE SHEET ASAT31AUGUST 2023 | |||
|---|---|---|---|
| 31.082023 | 31.08.2022 | ||
| Notes | Unrestricted | Total | |
| FIXEDASSETS | fund | funds | |
| Tangible assets | 10 | 346,059 | 5 361,025 |
| CURRENT ASSETS | |||
| Debtors | |||
| Cash at bank and in hand | 465,052 190902 |
6,316 520,548 |
|
| CREDITORS | 655,954 | 526,864 | |
| Amount fidling due within one year NET CURRENT ASSETS |
12 | ~16,861 639,092 |
~(10,100 507,764 |
| TOTAL ASSETSLESSCURRENT | |||
| LIABILITIES | |||
| 985,151 | 868,789 | ||
| CREDITORS | |||
| Amount falling due after more than one year |
13 | ||
| NET ASSETS | 905101 | 86I1789 | |
| FUNDS | |||
| Unrestricted funds |
985,151 | 868,789 | |
| TOTAL FUNDS | 985.151 | 868789 |
| 31.08.2023 | 31.08.2022 | ||||
|---|---|---|---|---|---|
| Note | |||||
| Cash flows from operating | activities | ||||
| Cash generated Rom operations |
~0329,046) | 79.153 | |||
| Net cash provided by operating activities |
~0329646) | 79,153 | |||
| Cash flows from investing | activities | ||||
| Purchase oftangible Axed |
assets | ||||
| Net cash used in investing | |||||
| Change in cash and cash equivalent | in | ||||
| the reporting period |
(8329,646) | 79,153 | |||
| Cash and cash equivalent | at the | ||||
| beginning ofthe reporting | period | 520,548 | 441,395 | ||
| Cash and cash equivalent | at the end | of | |||
| the reporting period |
1909112 | 520,5411 |
| RECONCILIATION | RECONCILIATION | RECONCILIATION | OFNET INCOME TO NET CASH | OFNET INCOME TO NET CASH | FLOW FROM OPERATING | FLOW FROM OPERATING | |
|---|---|---|---|---|---|---|---|
| ACTIVITIES | |||||||
| 31.08.2023 | 31.08.2022 | ||||||
| Net income | for the | reporting | period (asper the Statement | ||||
| ofFinancial | Activities) | 116,363 | 53,989 | ||||
| Adjustment | for: | ||||||
| Depreciation | charges | 14,966 | 15,812 | ||||
| (Increase)/decrease | in debtors | (458,736) | 452 | ||||
| (Decrease)/increase | in creditors | (2,239) | 8,900 | ||||
| Net cash provided | by operations | ~(320646 | 79,753 | ||||
| ANALYSIS | OF CHANGE IN | NET FUNDS | |||||
| At 1.9.22 | Cash flow | At 31.08.23 | |||||
| Net cash | |||||||
| Cash at bank | 520,548 | (329,646) | 190,902 | ||||
| 520,548 | ~320646 | 190,902 | |||||
| Total | 520,548 | ~329,646 | 290902 |
| a basis consistent with the use ofresource | s. |
g t |
ey ave een allocated to activities o | n |
|---|---|---|---|---|
| Tangible fixed assets | ||||
| Depreciation is provided at the following Plant and machinery Motor Vehicles |
annual rates in order to 1.00% -Straight-line 20.00% - Straight-line |
write offeach asset over its estimated method method |
useful life. | |
| Furniture ds Fittings Office Equipment |
20.00% 20.00% |
-Straight-line -Straight-line |
method method |
| Rentals paid under operating | Rentals paid under operating | leases are | charged to | the | Statement ofFinancial | Statement ofFinancial | Activities on a | straight |
|---|---|---|---|---|---|---|---|---|
| line basis over the period | ofthe | lease | ||||||
| INCOME | ||||||||
| 31.0$.2023 | 31.08.2022 | |||||||
| 0 | ||||||||
| Rental Income (Social Housing) | 4,292,510 | 3,743,504 | ||||||
| Service charge (Management) | 32,593 | 36,461.89 | ||||||
| Misc. Income | 24,220 | 24,706.08 | ||||||
| 4849,323 | 3,804,672 | |||||||
| INVESTMENT INCOME | ||||||||
| Bank interest received | ||||||||
| CHARITABLE ACTIVITIES | COSTS | |||||||
| Direct | 31.08.2023 | 31.08.2022 | ||||||
| costs | Total | Total | ||||||
| I | 0 | |||||||
| Charitable activities |
3,487,561 | 3,487,561 | 3,051,111 | |||||
| SUPPORT COSTS | ||||||||
| Management | Governance | 3L08.2023 | 31.08.2022 | |||||
| Other resources expended | g | 8 | ||||||
| Administration | 737,442 | 737,442 | 691,884 | |||||
| Bank Charges | 262 | 262 | 194 | |||||
| Audit fee | 7,750 | 7,750 | 7,500 | |||||
| 737,733 | 7,759 | 745,453 | 699578 | |||||
| NET INCOME (EXPENDITURE) | ||||||||
| Net income (expenditure) | is stated after charging/crediting | |||||||
| 31.0$.2023 | 31.08.2022 | |||||||
| 0 | ||||||||
| Auditor's remuneration |
7,750 | 7,500 | ||||||
| Depreciation - owned assets | 14,966 | 15,812 |
| NOTES | TO THE FINANCIAL STATEMENT | TO THE FINANCIAL STATEMENT | S | ||
|---|---|---|---|---|---|
| 7. | TRUSTEESREMUNERATION | AND BENEFITS | |||
| 31.08.2023 | 31.08.2022 | ||||
| Trustees' salaries Trustees' Tax and National |
insurance | 83,043 9,219 |
55,467 22,309 |
||
| 92,262 | 77,776 |
| STAFF COSTS | |||||
|---|---|---|---|---|---|
| 31.08.2023 | 31.08.2022 | ||||
| Stalf | |||||
| Wages and salaries | 422,487 | 326,136 | |||
| Tax and National insurance Other pension costs |
35,894 10,070 |
92,321 11,200 |
|||
| 468,451 | 429,657 | ||||
| The average monthly | number ofemployees | during the year was as follows: | |||
| 31.08.2023 | 31.08.2022 | ||||
| Average number | ofemployees | 28 | 25 |
| Unrestricted | Unrestricted | |||||
|---|---|---|---|---|---|---|
| fund | fund | |||||
| INCOME AND ENDOWMENT | FROM | 2023 | 2022 | |||
| Rental Income (Social Housing) Investment income (Bank interests |
received) | g 4,349477 |
3,804,678 | |||
| EXPENDITURE ON | 4,349,377 | 3,804,678 | ||||
| Charitable activities |
||||||
| Charitable activities |
3,487,561 | 3,051,111 | ||||
| Supportcosts | 745,453 | 699,578 | ||||
| 4,233,015 | 3,750,689 | |||||
| NET INCOME | 116363 | 53,989 | ||||
| RECONCILIATION | OFFUNDS | |||||
| Total finds brought forward | 868,789 | 814,799 | ||||
| TOTAL FUNDS CARRIED FORWARD | 985,151 | 868,788 | ||||
| TANGIBLE FIXEDASSETS | ||||||
| Freehold | Motor | Furniture | Otllce | |||
| COST | ProperlyI | Vehicle | &Fittings | EquipmentI | Totals 8 |
|
| At 1 September 2022 Addition |
349,000 | 36,825 | 11,105 | 34,494 | 431,423 | |
| At 31 August 2023 | 349000 | 36,825 | 11,105 | 34,494 | 431,423 | |
| DEPRECIATION | ||||||
| At 1 September 2022 Charge for the year |
10,470 3,490 |
23,423 5,337 |
11,105 | 25,401 6,139 |
70,399 14966 |
|
| At 31 August 2023 | 13,960 | 28760 | 11,105 | 31,540 | 85865 | |
| NET BOOKVALUE | ||||||
| At 31August 2023 | 335,040 | 8,065 | 2,954 | 346,059 | ||
| At 31 August 2022 | 338,530 | 13,402 | 9,093 | 361,025 |
| NOTES | TO THE FINANCIAL STATEMENTS | TO THE FINANCIAL STATEMENTS | ||||||
|---|---|---|---|---|---|---|---|---|
| DEBTORS:AMOUNT FALLING | DUE WITHIN ONE YEAR | |||||||
| 31.08.2023 f |
31.08.2022 | |||||||
| Trade debtors (Rental income) | 465,052 | 6,316 | ||||||
| 12. | CREDITORS: AMOUNT FALLING DUE WITHIN ONE YEAR | |||||||
| 31.08.2023 | 31.08.2022 | |||||||
| Trade creditors (Rental income) Accrual (Audit fee 2022-2023) |
9,111 7,750 |
19,100 | ||||||
| 16,861 | 19,100 | |||||||
| 13. | CREDITORS: AMOUNT FALLING DUEAFfERMORE THAN | ONE YEAR | ||||||
| No creditors falling due after | more than one year. | |||||||
| The mortgage secured on the | charity's | freehold land and building was |
paid in full in 2020-2021 financial | year. | ||||
| 14. | MOVEMENT IN FUNDS | |||||||
| Net | ||||||||
| At 01.09.22 | movement | At31.08.23 | ||||||
| Unrestricted funds |
in funds | |||||||
| General fund TOTAL FUNDS |
868,789 868,789 |
116,363 116,363 |
985151 985,151 |
|||||
| Comparative net movement in |
funds, included in the above are as follows: |
|||||||
| Incoming | Resources | Movement | ||||||
| resources | expended | in fund | ||||||
| Unrestricted funds |
f | |||||||
| General fund TOTALFUNDS |
4349377 ~,349,377 |
~4233915 ~4,233,635 |
116,363 116,363 |
|||||
| 15. | CONTROLLING ENTITY | |||||||
| There is no overall controlling | entity. | |||||||
| EVENTS SINCE THE BALANCE SHEET DATE | ||||||||
| There have been no events since the balance sheet date which might necessitate re-statement ofthe | ||||||||
| amount in the fmancial statements. |
||||||||
| 17. | CAPITAL COMMITMENTS |
| STATEMENT OF FINANCIAL ACTIVITIES | STATEMENT OF FINANCIAL ACTIVITIES | ||
|---|---|---|---|
| INCOME AND ENDOWMENTS Income |
31.08.2023 8 |
31.08.2022 | |
| Rental Income (Social Housing) Service charge (Management) Misc. Income |
4,292,510 32,593 |
3,743,504 36,462 |
|
| 24,220 | 24,706.1 | ||
| Investment income |
4/49@23 | 3,804,672 | |
| Bank interest received | 54 | ||
| Total incoming resources | 4/49/77 | 3,804,678 | |
| EXPENDITURE | |||
| Charitable Expenditure |
|||
| Property rent &lease management Pmperty Maintenance &Expenses Tenants Welfare Project Work (Concierge) Council Tax, rates and HB overpayments Light &Heat |
2409,235 441,508 349,420 164,171 147,999 ~279 29 |
2,157,668 353,501 252,795 75,219 109,093 102,836 |
|
| Management &Administration |
expenses | 3,487,561 | 3,051,111 |
| StaffCosts | |||
| Staff | |||
| Wages and Salaries Tax and National Insurance Pension |
422,487 35,894 |
326,136 92,321 |
|
| 10,070 | 11,200 | ||
| Trustees | 468,451 | 429,657 | |
| Wages and Salaries Tax and National Insurance |
83,043 19 |
55,467 22,309 |
|
| 92,262 | 77,776 | ||
| Management and Administration |
expenses carried forward (CFWD) | 560,713 | 507,432 |
| Management and Administration |
expenses brought forward (BFWD) | 560,713 | 507,432 |
|---|---|---|---|
| Administration | |||
| Accountancy fee Computer and Soibvare Consultancy Insurance |
22,944 8,761 23,513 |
22,725 7,968 27,400 4,514 |
|
| IT and Internet | 9,894 | 4,540 | |
| Legal and Professional Fees Misc. Expenses Travelling and Motor Running Office Rent |
Costs | 36,176 1,659 430 25&250 |
37,455 2,528 431 22,800 |
| Office Supplies Penalty and Licence Postage and Carriage Subscription Telecommunication |
10,756 300 21,299 |
12,169 133 155 1,486 17,085 |
|
| Trailllltg Bad Debt Written-off |
540 | 481 6,770 |
|
| Interest payable-HMRC Depreciation |
240 14,966 |
15,812 | |
| 737,442 | 691,884 | ||
| Finance | |||
| Bank Charges | 262 | 194 | |
| Governance | |||
| Audit fee | 7,750 | 7,500 | |
| Total resources expeaded | 4333,015 | 3,750,689 | |
| Net income/expenditure | 116363 | 53,989 |