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2021-12-31-accounts

Charity number Charity number Charity number Charity number 1139580
Company number 07277557
Homes and Communities Agency 4695
registration number
Directors and trustees Mr Jonathan Jarrett IChairman)
Mr Peter Ottino
Councillor Margaret Gordon
Mrs Joannie Andrews
Mr Datoru Ben Paul-Worika
Rev Al Gordon
Rev Andrew
Wilson
Mrs Olivia Gordon
Mr John Parmiter
Ms Jacqueline
Driver
Councillor
Penny Wrout
Clerk tothe trustees The Trust Partnership
Registered office 6Trull Farm Buildings
Tetbury
Gloucestershire
GL8 8SQ
Independent auditors Dunkley's
Woodlands
Grange
Woodlands
Bradley
Stoke Bristol
BS324JY
Bankers HSBC Bank Pic
2 Cheapside
High Road
Wood Green
London
N22 6HJ

Page
Report ofthe trustees
Report ofthe auditors 8-10
Statement offinancial activities 11-12
Balance sheet 13
Statement ofcash flows
Notes tothe accounts 15-24
Detailed statement
offinancial		 activities 25

Metric 2021 2020
1 Reinvestment 1.14%o 1.02%
2 New supply delivered 0 Q
3 Gearing 8.0% 8.2%
4 EBITDA MRI {EBITDAMajor Repairs included) Interest cover % 9.3% SQ%
5 Headline Social Housing costs per unit 3,037 2,731
6a Operating
Margin (Social lettings)		 43.7% 40.9%
6b Operating
Margin {Overall)		 50,9%o 32.2%
7 ROCE% 1.75% 076%

Unrestricted Restricted Endowment Total Total
Notes Funds Funds Funds 2021 2020
Income &expenditure
Income from:
Maintenance
Contributions		 294,824 24,564 319,388 307,494
Investment
Income		 6,150 8,127 14,277 14,195
Interest Received 211 211 4,664
Otherincome 162,351 162,351 2,211
Total 463,536 32,691 496,227 328,564
Expenditure
on:
Activities
in furtherance		 of
the charity's objectives 11/12 175,922 45,652 221,574 187,967
Loan interest 31,261 31,261 34,917
Other recognised (gains)/losses (13,846) (151,504) (165,350) 37,185
Total Expenditure 162,076 (105,852) 31,261 87,485 260,069
Transfers between funds (82,014) 250 81,764
Net income
and net movements in funds 219,446 138,793 50,503 408,742 68,495
Reconciliation
of		 funds
Fund balances brought forward at
31.12.2020 599,633 681,471 12,632,411 13,913,515 13,845,020
Fund balances carried forward
at
31.12.2021 819,079 820,264 12,682,914 14,322,257 13,913,515

Unrestricted Restricted Endowment Total
Notes Funds Funds Funds 2020
Income 8 expenditure
Income from:
Maintenance
Contributions		 282,930 24,564 307,494
investment
Income		 5,576 8,619 14,195
Interest Received 4,ee4 4,664
Other income 2,211 2,211
Total 295,381 33,183 328,564
Expenditure
on:
Activities
in furtherance		 of
the charity's objectives 11/12 173,611 14,356 187,967
Loan interest 34,917 34,917
Other recognised
losses		 2,563 34,622 37,185
Total 176,174 48,978 34,917 260,069
Transfers between
funds		 {83,053) 250 82,803
Net income/(expenditure)
and net movements
in funds		 36,154 {15,545) 47,886 68,495
Reconciliation
offunds
Fund balances brought forward at
31.12.2019 563,479 697,016 12,584,525 13,845,020
Fund balances carried forward at
31.12.2020 599,633 681,471 12,632,411 13,913,515

As at 31 December 2021 Co mpany
number		 : 07277557
Notes 2021 2020
Fixed Assets
Tangible assets 12,260,222 12,260,504
Investments 2,727,864 2,564,030
14,988,086 14,824,534
Current assets
Debtors 82,783 29,229
Bank balances 277,561 165,786
360,344 195,015
Current liabilities
Creditors 93,665 121,930
93,665 121,930
Net current assets 266,679 73,085
Long term creditor 932,508 984,104
Total assets less current liabilities 14,322,257 13,913,515
Capital and reserves
Unrestricted funds 819,079 599,633
Restricted funds 820,264 681,471
Endowment funds 12,682,914 12,632,411
141322,257 13,913,515

2021 2020
Note
CASH FI.OQfs FROM OPERATING ACTIVITIES:
Net cash used in operating activities 11Q,051 68,312
Cash flows from investing
activities:
Dividends
and interest from investments		 4,664
Proceeds from sale ofinvestments 45,446 14,356
Purchase ofinvestments (43,930) (43,930)
Net cash used in investing
activities:		 1,724 (24,910)
Change
in cash and cash equivalents		 in the reporting period 111,7?5 43,4Q2
Cash equivalents
at the beginning
of		 the reporting period 165,786 122,384
Cash and cash equivalents
at the end		 ofthe reporting period 277,561 165,786

31.12.2021 31.12.2020 31.12.2020
Legacies Income 160,989
Solar FITIncome 1,293 2,089
Other Income 69 122
162,351 2,211
Tangible Fixed Assets
Furniture Norris 8 Mongers Dr William Total
Houses Spurstowe 31.12.2021
House
Cost or revaluation
At 1Jan 2021 2,333 2,985,000 11,465,000 14,452,333
Less HCA Grant (2,190,000} (2,190,000)
2,333 2,985,000 9,275,000 12,262,333
Depreciation
At 1Jan 2021 1,829 1,829
Charge
in year		 282 282
2,111 2,111
Net cost/valuation at
31.12.2021 222 2,985,000 9,275,000 12,260,222
Net cost/valuation at
31.12.2020 504 2,985,000 9,275,000 12,260,504

NAACIF COIF 2021 2020
fund fund Total Total
Market value 31.12.2020 785,359 1,778,671 2,564,030 2,566,976
Purchases 43,930 43,930 43,930
Movements in year
783,635 1,778,671 2,562,306 2,610,907
Sales (45„654) (45,654) (14,356)
Net investments gains/(losses) 165,350 208 165,558 (32,521)
Market value 31.12.2021 948,985 1,778,879 2,727,864 2,564,030
Cost 31.12.2021 659,588 1,778,879 2,438,467 2,439,981
Debtors
31.12.2021 31.12.2020
Maintenance contributions in arrears/(advance) 3,336 (4,795)
Prepayments 6,921 7,150
Other debtors 72,526 26,874
82,783 29,229
Creditors: amounts falling due within one year
31.12.2021 31.12.2020
E
Amounts
falling		 due within one year:
Creditors 33,173 30,635
Accruals 8,989 40,88S
Bank loan (secured) 51,503 50,410
93,665 121,930

31.12.2021 31.12.2020
Bank loan (secured} 932,508 984,104

2021 2020
Net Income for the reporting period
per the statement
offinancial		 activities 408,742 68,495
Adjustments
for:
Depreciation
charges		 282 282
(Gains}/losses
on investments		 (165,350) 32,520
Dividends
and interest from investments		 (208) (4,664)
(Increase)/decrease
in debtors		 (53,554) (14,263}
Increase/(decrease)
in creditors		 (79,861) (14,058)
Net cash used in operating
activities		 110,051 68,312
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Unrestricted Restricted Endowment
funds funds funds 31.12.2021
Accumulated Extraordinary Capital Total
Tangible fixed assets 12,260,222 12,260,222
Fixed asset investments 569,916 720,621 1,437,327 2,727,864
Current assets 287,915 72,429 360,344
Current liabilities (3S,752) 27,214 (82,127) (93,665)
Long term liabilities (932,508) (932,508)
819,079 S20,264 12,682,914 14,322,257
Unrestricted Restricted Endowment
funds funds funds 31.12.2020
Accumulated Extraordinary Capital Total
Tangible fixed assets 12,260,000 12,260,504
Fixed asset investments 521,555 635,250 1,407,225 2,564,030
Current assets 168,238 26,777 195,015
Current liabilities (90,664) 19,444 (50,710) (121,930)
Long term
liabilities		 (984,104) (984,104)
599,633 681,471 12,632,411 13,913,515

Unrestricted fund Restricted funds Endowment funds 31.12.2021
Accumulated Extraordinary Capital Total costs
Council Tax and
Water rates 3,154 3,154
Light and Heat (3,144) (3,144)
Repairs and
maintenance 79,688 18,774 98,462
Warden,
cleaning
and gardening 34,289 34,289
Insurance 5,183 5,183
Depreciation 282
Resident events 1,495 1,495
120,947 18,774 139,721
Unrestricted fund Restricted funds Endowment funds 31.12.2020
Accumulated Extraordinary Capital Total costs
Council Tax and
Water rates 3,521 3,521
Light and Heat (1,104) (1,104)
Repairs and
maintenance 68,150 14,356 82,506
Warden, cleaning
and gardening 34,301 34,301
insurance 5,082 5,082
Depreciation 282 282
Resident events 980 980
Write offof
resident arrears
111,268 14,356 125,624

Unrestricted Restricted Endowment 31.12.2021
funds funds funds Total
Accumulated Extraordinary Capital costs
Almshouse
management 13,501 13,501
Clerk' s
remuneration 22,931 22,931
Accountancy 9,566 9,566
Audit/Year End
Accounts 1,800 1,800
Legal and
professional 2,500 26,878 29,378
Sundry expenses 2,970 2,970
Bank charges 143 143
Subscriptions 899 899
Trustee insurance 665
54,975 26,878 81,853
Unrestricted Restricted Endowment 31.12.2020
funds funds funds Total
Accumulated Extraordinary Capital costs
Almshouse
management 20,213 20,213
Clerk's
remuneration 21,342 21,342
Accountancy 9,509 9,509
Audit/Year End
Accounts 1,800 1,800
Legal and
professional 4,524 4,524
Sundry expenses 3,095 3,095
Bank charges 246 246
Subscriptions 949 949
Trustee insurance 665 665
62,343 62,343

Norris 8
Dr Spurstowe Mongers
House Houses Total
Income &expenditure
Income from:
Maintenance
Contributions		 227,043 92,345 319,388
Investment
Income		 6,150 8,127 14,277
Interest Received 211 211
Other income 162,351 162,351
Total 395,755 100,472 496,227
Expenditure
on:
Activities
in furtherance		 ofthe charity's objectives
Property costs
Council Tax and Water rates 3,283 (129) 3,154
Light and Heat 895 (4,039) (3,144)
Repairs and maintenance 68,058 30,404 98,462
Warden, cleaning and gardening 18,616 15,673 34,289
Insurance 3,369 1,814 5,183
Depreciation 282 282
Resident events 1,495 1,495
95,998 43,723 139,721
Governance costs
Almshouse
management		 8,776 4,725 13,501
Clerk's remuneration 14,905 8,026 22,931
Accountancy 6,175 3,391 9,566
Audit/Year
End Accounts		 1,213 587 1,800
Legal and professional 17,378 12,000 29,378
Sundry expenses 2,970 2,970
Bank charges 143 143
Subscriptions 899 899
Trustee Insurance 432 233 665
52,891 2&,962 81,853
Loan interest (31,261) (31,261)
Other recognised gains 13,846 1S1,504 165,350
Net income 229,451 179,291 408&742