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|||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|
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|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|||
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|||||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|
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|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|
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|||||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|
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|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|
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|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||
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|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|
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|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|
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||||||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|
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|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||||||||
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|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|
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|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|