Char•ty Registratlon No. 1142743 gmpany Registration No. 07623246 {England and Wales) LANGDON HOUSING (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020
LANGDON HOUSING (A COMPANY LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr G Silyer Mr S Levington Mr G Cohen (appointed 7 September 2020} Mr W Rosenberglresigned 31 March 2021) Mr Paul Joseph Chief Executive Nell Taylor Company Secretary Mr 8 Shine Charity number: 1142743 (England and Wales) Company number 07623246 {England and Wales) Principal address Unit 506. Centennial Park, Centennial Avenu< Elstre< Boreh2mwood WD6 3FG Registered Office Unit 506, Centrnnial Park, Centennial Avenu E15tree, Borehamwood WD6 3FG Auditor Crowe U.K. LLP 55 Ludgate Hill London EC4M 7IW Bankers Lloyds TSB 7 Floor 40 Spring Garden5 Manchester M21EN
LANGDON HOUSING (A COMPANY UMITED BY GUARANTEE) CONTENTS Page Trustres, Annual Fieporc Independent auditor's repDrt Sr2tement of financial activities Balance sheet Sta¢¥hertt of cashflows 10 Notss to the attounts
LANGDON HOUSING (A COMPANY LIMITED B Y GUARANTEE) TRUSTEES, ANNUAL REPOKT FOR THE YEAR ENDED 31 DECEMBER 2020 Charity infomiation The Trusoes present their annual report and the financial ststements for the period ended 31 December 2020. The accounts have been prÈparèd in 2Ctt>rdance with the accounting policies set OUL in notr I to the accounts and cornply with Langdon Housing's Mèmorandum and Articles ofAssociation, the Charitie5 Act 2011. Companies Act 2006 and the Charities SORP IFRSI 02). Reference and administrative details Langdon Housing is a registered charity (No. 11427431 and a company limited by guarantee and not having share c2Pital (No. 7623246)- The registered office is as shown on the legal and administrative information page. The Trustees on the date of this report, are as follows.. Mr S Lcvington Mr G &'lver Mr G Cohen (appointed 7th September 2020) Mr Paul Joseph Mr W P Rosenberg a Trustee throughout the period under reviw however he stood down on 31" March 2021 The curren¢ Truscees have the power remove and appoint tnjstses. The are a maxmum number of 5 trustees and not less than 3 who may be appoin¢ed to the Board. The orpnisational oversight within Langdon Housing rests with Mrs S Mclndoe {InterÈm Housing Manager- Langdon Housing), to whom day to day operational management and compliance is delegated. Thè Management Teim of the Charity 15.. Mr N Taylor Chief Executive Mr B Shine Finance Directorlcompany Secretsry Mrs S MclThloe Langdon Housing- Inrerim Manager The trustees of Langdon Foundation. the parent Charity, review management rernuneration annually. Mr Taylor and Mr Shlne are remuneratsd through Langdon Foundation and noc Langdon Housing. strucre) govemance and management Langdon Housing was incorporated and established Memorandum and Article5 of Association on 5th May 201 l. The Articles were replaced by new Articles on 16 June 2015. The Board of Trustees is responsible for the overall governance of Langdon Housing as a charity. Trustees are co-opted by che existing Board of Trusoes or nominaLed by the TruSe5 of The Lan8don Foundation. Individual Trustees are appoinred for a renewable period of ¢hree year5 and may remain as Trustees for up to nine years unloss removed in accordance with the provisions set out in the Ar¢ides. There are no individual subscription5 Qr other Sums payable by Members. The man2gÈment of ¢he charity and regulatory complSance Is delegated to the Chief Executive 2nd an effective partnership exists with the Chairperson of the Board. The Chlef Executyve reports to trustoes at Board Meetings. The Langdon Foundatyon ensures Its salaries rernain competitive in the labour markeL through conducung an ann pay rewÈw. paying individuals in line with Th)rmal industry practice and standard5, and benchm¥king salaries against other employers. Langdon determines the pay range for a vacancy prior to advertising IL followng the creation andlor mendment of a job description and specification. On appointment the 5tsrting salary 15 determined within that range to be offered to the successful candidate. based on relevant qualifications. experientt and any recruitment and reiention needs. Senior Leadership $arleS are based on the sarne economic lactors specified knoye, such a5, qualifications, experiÈncÈ and other factors like supply and demand, but a spot Sary is used on appointment and thereafr the cost of living increase. as appropriate.
LANGDON HOUSING (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2020 StrucbJre• governance and management (continued) The Langdon Foundation has InOduced a More organised inductiC*n progrdmme whieh includes a dedicatéd portal containing inlormation about the history of Langdon, guides on TrustÈè rèsptsnsibilities. current stratw. governance documents and B02rd reports. The Board as a group receive presenf2tions on compliance and latest practice at lease annually. The external advisors of Langdon Housing are as set out on the legal and administrative pag Corporate gov¢vnan¢¢ Processes are in place to ensure that performance is monitored and thatappropriite management inlormatyon is prepared and reviewed regularly by both the Chwrperson and the Board. Induction and trdining for new Tru5te25 15 facilitated by the Chief Executive and the Finan<e Director. Systems of internal control are designed to provide reasonable assurance win5t material mi5Statement or loss and Include: an annu budget approved by the Trustees.. regular consideration by the Tru5tee5 Qfgeneral budget performanc deleNign of daY-to-Y fflanagement and regulatory Complian authority., and identificatyon and management of risks. Objectives, activitles, achievements and performance Langdon Housin¥5 declared objective5 a 'The objÈ£tives ol the charity are the relief of individua15 Wlth Special educational needs or mental illness and other associated difficulties by the provision of aCcommotion and related services and (save for purposes incident212nd ancillary to those oblects), no other purposes. The Charity shall be established in accordance with the tenets of thÈ jewish religion" The Langdon Housing mission sratement is.. "Our mission 15 to provide and develop quality affordable housing opportunities fr)r individuals, groups and f2milie& promotirig 5elf-reliance and working in partnership within the Langdon Group of Charities to support the wider owdnisational mission to flourish" This period's principal activityes. objectives and achievement5 were= Successfully worklng wlth Langdon Communley to meet the need for addluonal prOPerd in all operational Is. All properties Sourc in the correct location and sec up for tenants to move in to. Successfully builc relations with the Housing Benefit officers in 1 boroughs to ensure Housing Benefit pplicauons arè expedited and the correct and approprith Housing Benefit award is obtained. Preparing plans for improvemen¢s of certain propertie5 thanks to flknds Secured from Trusts by the Langdon Foundation {the Covd19 pandemic has however delayed the impletnenration of these itllproyementsl Addition properrles were provided for indiwduals either through the Langdon group or third party rents. Financial review. management policies and results for the perlod The Staternent of Financi21 Activities {SoFA), set out on page 7. show5 that Langdon Housing had income ol £1,510,711 {2019= £1,456,380) of whith £1.473.730 {2019.. £1.387.126) was paid out on expenses.1È2wng i surplus of £36,981 (2019.. £69.254}. Lanlon operates its housing service to hth standards and regards the quality of the prowsion to be comparable with the top tler of any of the competition. Langdon houses its, Members in a mix of owned propèrties {113) and rented properties (213) but conunues on its strategy oftrying to accumulate as many owned properties as is feasible. However, Langdon does operats Sn a challenging environment ol rising property prices. a lack of supply of quality properties to purchase an increasing bwden of raislng deposits for purchase& The properoes sit within Lan8don Foundacion 2nd are rented to Langdon Housing at market value
LANGDON HOUSING (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2020 Principal sources of fundin8 Social Securlty receipts in the form of Housing Benefit constitute the majority of the charity's income. Other funds are ralsed by the Langdon Foundation who orgdni5e lundrai5ing events and co-ordinate the activities of our suppor¢ers in the wlder community on behalf of the Langdon charities. Langdon doe5 not Use professional fundraisers or involve commercial partitlpators. There have been no complaSnts about fundraising activity this year. ReseYve5 The viow of the B02rd of Trustees is that Langdon Housing should retain sufficienc reserves to coyer 3 months. loss of Housing BÈnèfit income and the policywas reviewed during the period. This consideration also factors in curronL extcrnal threats to lunding 50 ag to m2ximise seNce continuity. Based on thé budget for che year ending 31 December 2020 this would Ount LO c£350.(X)O and the Board will endeivour to accumulate the appropri&te level of reserves. At 31 December 2020, ngdon Housing had unrestricted balance sheet assets of £460.917 {2019.. £203.022) with liabilities due 01 £303.008 {2019.. £82,094), lea¥ the total unrÈstricted fininci21 reserves at £157.909 (2019.. £120,928). Future years surplus are expetted to bring the re5erwes to the desired level. Staff training and career deVelopmt Langdon Housing is committed to the trainin& career development and welfare of Sts employees. An individual's career development is a5ses5ed through annual apprdisal and supervision. Trwning programme5 are provided to meet on8oing needs. with thc aim of developing employees for both their current and their fu¢ure roles. The trwning strategy and annual plan boing b2sed on the Langdon Housing's organisational objecuves and the requirements of the wider Langdon Group. Future plans Langdon Housing will continue to build upon the sound financial base established for the seThice and accumulate an appropriate level of reserves arbd to continue to man4e the growth in Me$ and distric as determined by the Strategic Plan. We continue to monitor staffing levels to ensure an effrfvve seThice for members. Connected charitits Langdon Housing is connected to three charitie5 these being The Langdon Foundation. Langdon Cornmunity and Langdon Colleg< which are all regstered with the Charity Comrnission. The Langdon Foundation raisÈs funds ind prowdes finance to Langdon College, Langdon Community and Langdon Housing. Langdon Housing man¥es its operational seryices from rented premises owned and let to them by The Langdon Foundation and ex¢ernal third parties. The Lan8don Foundation has the right trj appoint and remove trustees of Langdon College, Langdon Housing and Langdon Cotnmunity. Risk management Risks are identified and aessed at an operational, project and corporate level, against the agreed aims ind objectives of the charity. We have identified 2 significant risks that fe the charity. The maintenance of financial stabilhty is at risk as the charity's income is entirety in the form of housing benefit which is being Squeezed by current government policy. We regulady rewew our cash position and forecasL We have a robust budgeting proces5 and a regular re-forecasting qcle. There is i risk that our governance and Strat is incorrect and may no¢ improve the lives of people with learning disabilitiès. WÈ will be regularty revièwing our governance structures and perforniance. We have processes in place to lead strate8ic change ind we are developing our ability to measure the impact we make. The Covid19 pandemit has idded an additional risk in 2020 and 2021 and we prepared specific attion plans in response to the situatiowL Additional PPE has been purchased as needed and we hayé ad2Pted our way of working with those we 5uppori and in our olfice5. M05t of the income relates to Housing Benèfit from statutory sources and this has remained secure. C05ts have been reduced where possible.
LANGDON HOUSING (A COMPANY LIMITED B Y GUARANTEE) TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2020 Public benefit The truscees have cotnplied with their duty in Section 17 01 the Charitiès Act 2011 to hive due rerd to the guidance published by the Chariiy Commission. The benefit to the public is manifèstly dernonstrated bythe achiÈYement5 contained in this reporL all of which seeks to extend and improve the care of young people whose life chances, aspirations and contributions to society will be enhanced as a resulL Disclosure of infomiatioTr to auditors Each of the trustees has confirmed that there is no infomiadon of whlth they are aware which is relevant Eo the audi¢ but of which the auditor TS unaware. They haye each further confirmed that they have each taken appropriate step5 to identify such relevant information and to establish that the audiwr5 are aware of such information. Trustee$, respon5ibilitie5 in relation to the financial statements The Charl5 trustses {who are also the directors of Langdon Housing for the purposes of company lawl are responsible for preparing a trUSS. annual report and financial statements in accordance with applicable law and United Kingdom Accountyng Standards {United Kingdom Genernlly Accepted Accounting Practice) including FRS 102"The Fin2ncial Reportin8 Standard appllcable In the UK and Republic of Ireland" Company law requires the Chartty trustees to prepare financial 5taternents for eath year Y/hich give 7¢ true and fair vièw of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expendit ofthe chwi¢able companyforthat period. In preparing thelinancial stttements, the tru5tee5 are required to.. select suitaNe i¢countsng policie5 and then apply them consistendy* observe the me¢hod5 and principles in the Charities SORP (Staternent of Recommended Pracdce)., ake judgements 2nd estima¢es tha¢ are reasonable and pruden state whether applicable UK accountingstandards have been follow8d, subiect to any material departures disclosed and explained in the financial statements., prepare the financial statements on the going concern basis unless It is Inappropria ce presvme that the Charity will continue in business. The trustees are responsible for keeping proper accountsng records that disclose with reasonable iccuracy at any time the financial position of the Charity and to enable them to ensure that the financial statements comply with the Companies Act 2006 and the Charity'5 constitution. They are also responsible for safeguardingthe assets of the Charity and the group and hence taking reasonablÈ steps for the prevention and detÈction of frydud and other irregularitie5. This report has beén prepared in accordance with the special provisions ol the Companies Act 2006 relating to smll companies. On behalf of the board of Tru5te¢s Mr Pjoseph Trustèe une 2021
LANGDON HOUSING (A COMPANY LIMITED B Y GUARANTEE) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF LANGDON HOUSING Independent Auditor's Report to the Members of Langdon Housing Opinion We have audited the financial statements of Langdon Housing {'¢he chari¢able companll for the year ended 31 December 2020 which comprise the Statement of Financial Activiues, Balance Sheet. Cash Flow Statement and notes to the financial Statemen including sigwbihcant accounting policies. The financial repor¢ing framework thai has been applied in ther preparation is applicable law and United ngdoM Accounting Stsndards, induding Financial Reporting Standard 102 The Finala1 Reporting Sr2ndard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accovntyng Practice}. In our oplnitin the fjnanclal statements.. give a true and fair view of the state of the charitable company's affairs as at 31 December 2020 and of the its inclne and expendicure, for the year then ended., have beÈn properly prepared in accordance with United Kin8dom Generally Accepted Accounting Pracrlce: and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing {UKI IISAS (UKI} and applicablé law. Our rosponsibilityos under those srandard5 are furiher described in the Auditor's responsibilities for the audit of ¢he financial Strathments section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our autht of the financial 5tstements in the UK, including the FRC'S Ethical Standard. and we have fulfilled our other ethical responsibilitios in accordance with these requirements. We believe Ihat the audit evidence we havè obtained is sufficient and appropriate co provide a basis for our opinion. Conclusions Yelating to going concèrn In auditing the financiil staents, we have concluded that the trustee's use of the going concern basis of accounung in the preparaoon of the financial sratements is appropriate. Based on the work we have performed, we have not identified any ma*rial uncerrainues retIng to events or conditiOll5 that. individually or collectively, may cast Significant doubt on the charitable company's ability co continue a5 a going conTrm for a period of it leart e1ve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilitie5 of the thSteeS with respect to going concern are described in the relevant sec¢ions of thts reporr. Other infomiation The trustees are responsible for the other information contained within the annu report. The other informacion comprises the information included in the annual repor4 other than the financial statements and our auditorf5 repor¢ thereon. Our opinion on the financial statements does not cover the other information and, except to ¢he ex¢en¢ athÈrwise expllclrly stated in our reporG we do not express any form of assurdnce conclusion ther40n. Our responsibility is to read the other infomiation and, in doing so, consider whether tho other inforniation is mitrrially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to bc miteri211y mi5Stated.11 we identify such miterial inconsistencie5 or apparent material misst8Ments, we are required to determine whether this w.ves rise to a m2terial misstatemenc in the ffinancial statements themselves. If, based on the work we have perlormed, we condude ihat there is a material misstatement of thi5 other information, we are required to report that fact We have nothing to report in this reyrd. Opinion5 on other matters prescribed by the Companies Act 2006 In opinion based on the work undertaken in the course of our audit the information given in the trustees, reptsrc, which includes the directors, report prepared for the purpose5 of company law, for the financial year for which the financial statements are prepared is consis¢en¢ with ¢he ffinanci?I StaMents., aTha the directots. report included thin the trwstees, report have baen prepared in accordance with applicable legal requirements.
LANGDON HOUSING (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF LANGDON HOUSING Matttrs on which we are requlred to report by exceptlon In light of the knowledge and understanding of the charitable company and Its envSronment obuned in the course ol the audi( we have not identifièd material misstatements in the directors. report included wlthin the trustees, reporL We have nothing to report in respect of the followlng Matte in relation to which the Companles Act 2006 requires US to report to you if. in our opinion= adequa¢e and proper accounting records have not been kept,. or the financial statements are noi in agreemen¢ wi¢h the aCcounn8 records returns., or certain disd05ures of trustees, remuneration specified by law are not made., or we have no¢ received all the information and explana¢ions we require for our audit.. or the trustees were not entirjed to prepare the finan¢ial statements in accordance with the small companies reme and tske adwdntage of the sfflall companies. exemptlons in preparing th2 trustees. directors, report and from the irement to prepare a Strategic report. Re5ponsibiliti¢s of trust•ts As explained more fully in the trustees, responsibilities statement set out on page 4. the trustees (who are also thè directors ol the chhritable company for the purposes of company law) 2re responsible for the preparatyon of the financial statements and for being sat15fied thatthoygive a true andfair view, and for such internal control as the ¢rus¢ees determine is necessary to enable the preparaiion of ffinancial statements that are free from materTral misstatsmenL whether due to fraud or error. In preparing the financial statements. the rrustees are responsible foras5e5sing the charitable comp2ny s ability to continue a5 a going concern, thsclosin& as applicable, matters related to going contrrn afid using the going concern basi5 of accounting unles5 the trustees either intend to liquida* the charitable company or ¢0 ¢ease operntyons, or have no realistic alcematNe but to do $0. Auditor's responsibilitie5 (or the audit ol the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstaMenf. whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, bu¢ is not a guarantee that an iudit condurted in accordance with ISAS (UK) will always detect a material misstttement when it exists. Mi5Statements can arise from fraud or error and are considered material if. individually or in the aggregats, they could reasonably be expected to infiuence the economic decisions of usws rxken ort the basis of these financial ststements. Det&ls of the extent to which the iudit was considered capable of det4tting irregulari¢ie% including fraud and non- conw11an with laws and regulations are seL Out below. A further description of our responsibiliue5 for the audi¢ of the financial statements is located on the Financial Reporting Council's website IL ww.f klaudit - Thi5 descripOn forms parL ol our auditor's reporL Extent to whith the audit was considered capable of detecting irrègularities. indudins fraud Irregularities. including fraud, arÈ instances of non-compliance with laws and regulations. We identified and assessed the risks of material rni55Utewnent of the ffinancial statements Irom irregularitie& whether due to fraud or error, and discussed these between our audi¢ team tnewnbers. We then designed and performed audit procedures responsive to those rlsks, including obtaining audit evidence suffiuent and appropriate to provide a basis for our opinion. We obtsined an understanding of che leg and regulatory frameworks within which the charitknle company operates. focusing on those laws and regulations that have a direct effect on the deLermination of matsrial afflount5 and disclosures in the financial statemonts. The laws and regula¢ions we considered in this contèxt were the Companies Act 2006, the Charities Acc 201 I together with the Charities SORP (FRS 1021. We assessed the required compliance with these laws and regulations as part of our audit procedures on the rdated financial statement iLerns.
LANGDON HOUSING (A COMPANY LIMITED B Y GUARANTEE) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF LANGDON HOUSING In additiory wè considered prowsions of other laws and regulations that do not have a direct effect on the financial statement5 but compli3nce with which mIt be fundamental to the charitablè company's ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the charitable company for frau(L The laws and regulations we considered in this context for the UK operations were General Dats Protection Regu12tion {GDPR), employment legislation, tsx legislation. and health and sifety legislation. Auditing 5tindird5 limit the required audit ProdureS to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection ol regulatory and legal correspondence. if any. We identified the greatest risk ol material impact on the finala1 statements from irregularicies. including fraud, co be within income recoEnitiOlI, and the override of controls by management. Our audit procedures to respond to these risks included enquiries of rnanagemeni about cheir own identiffication and assessment of the risks of irregularities, Sample testing on the posting of journS. reviewng accounting estimates for biases, reviewing regulatory correspondence with the Charity Commission, and rÈading minutes ol meetings of those chirged with governance. Owlng to the inherent Ilmltations of an aud1¢ there Is an unavoSdable rSsk (hat we may not have detectsd some Mate21 mis5tatementS in the financial 5tstements, even though we have properly planned and performed our audit in accordance with auditing srandards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflecced in the financial stacements, the le55 likely the inheren¢ly limited procedures required by audicing srandards would identify it. In addi¢ion. a5 with any audit, ¢here rernained a higher risk of non- detectyon of irregularities, as these may involve collusion. forgery, intsntional omission& misrepresentations. or the oyenide of internal controls. We are not SPOnsible for preventing non<ompliance and cannot be a<pected to detett non-compliance with all laws and regulation5. Use of ourreport This report is made soldy to the charitable compan$ members. as a body, in accordance with Chapter 3 of Part 16 of the Companies Art 26. Our audit work has been underraken so that we might State to thé charitable ComnY,5 members those matters are required to state to them in an auditor's report and for no other purpose. To the fullest extent pertnitted bx liw, we do not accept or assume responslbility to anyone other than the charitsble company and the charitable comp3ny's member5 as a bodyi for our audit work, for this repor¢ or for the opinions we haye fortned. Tim Redwood Senior Statutory Auditor For and on behalf of Crowe U.K. LLP Statutory Auditor London 22 September 2021
LANGDON HOUSING (A COMPANY LIMITED BY GUARANTEE) BALANCE SHEET AS AT 31 DECEMBER 2020 Company registration number.. 07623246 (Engknnd and Wales) Note 2020 2019 Fixed Assèts 13 7,662 Current assets: Debtors Cash at bank and in hand 14 147,617 305,638 137,693 65,329 Total Current assets 453,255 203,022 Liabilities: Creditor5- Arnounts lalliThg due within one year Net current assets 15 (303,008) 150,247 {82.094} 120,928 Tot21 Thet assets 157.909 120,928 The lunds ofthe Charity: Restricted funds unrestric lunds 16 157,909 120,928 Total funds 17 157.909 120.928 The financi 5ratements have been prepared in iccordance with ¢he special provisions of the Companies Act relating to small companies. The notes at pages I I to 17 lorm part of ¢hese accounts. Mr PI05eph Trustee 31 Approved by the trustses and authorlsed lor issue on.. &Ylune 2021
LANGDON HOUSING (A COMPANY LIMITED B Y GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020 Notè UnrtstrictÈd Restricted funds funds Total fund5 2020 Total funds 2019 Incomè from: Donation5 500 500 1,040 Charitable activities 1.510.211 1,510,21 1.455,340 Total income .510,211 500 1,510,711 1.456.380 Expenditure on: Charitsblc actyvitios.. Provision of housing and living arrangements 1,473,081 649 1,473,730 1.387.126 Total exp¢nditurè 1,473.081 649 .473,730 1.387.126 N¢t Incornel{expenditure) 37,130 (149) 36.981 69.254 Transfers between funds {149) 149 Net movèmÈnt In funds 36.981 36.981 69,254 Reconclliatlon of funds: Totsl lunds brought forward 120,928 120,928 51,674 Total funds carried forwavd 157,909 157,909 120,928 The staternent ol financial activitie5 includes all gains and losses recognised in the ye¥. All irKome and expenditure derives from contitluing ictivities. The s¢aternen¢ of financial attNi¢ies also complies wi¢h the requirements for an income and expenditure account under the Companies Act 2006.
LANGDON HOUSING (A COMPANY LIMITED B Y GUARANTEE) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2020 Not¢ 2020 2019 Cash flows from operating artivities: Net cash provided byl(used in) operating activitses 19 248,304 (70,032) Cash flows from ifftvÈstlng actlvltle&' Purchase of tangible f(xed asséts (7,995) Net cash used in investing activities {7.995) Change in cash and cash èquivalents in the reporting period 240,309 170.032) Cash and cash equivalents at the be8innin8 of the reporting period 65,329 135,361 Cash and cash equivalents at the end of the reporting period 305,638 65,329 io-
LANGDON HOUSING (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020 Accountlng Policles The principal accounting policie5 adoptedb jvdsements and key sources of estimation uncertainty in the prep3ration ol the financial statements are as follows: l. l Ba%is of preparation The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Prattice applicable to charities preparing their accounts in accordance with the Financial Reporung Standard applicable in the UK and Republic of Ireland (FRS 1021 (effective l January 2015) - IChari¢ies SORP {FRS 10211. the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) and the Comwanies Act 2006. The Charity meets the definition of a public benefic entity under FRS 102. Assets and liabilities are inltially recognised a¢ hiscorial cosc or transaction value unless Otherwise Stated in the relevant accounting policy. 1.2 PreparatioTr of the accounts on a going concern basis The accots haye been prep2red on i going concern basis and the trustees believe there to be no material uncertainties about the Charity's ability to continue as a going concern. If neces5aryJ Langdon Foundation will provide support aThJ a letcer of suppori covering the period to 31" December 2022 is proded by The Langdon Foundation. More Snformation in respett of factors affecring income and expenditure are set out in the Financlal Review on page 2 and 3. l.J Income Income is recognised when the charity ha5 entitlement to the funds, any performince conditions attached to the itemls> of income h2ve been tnet, it 15 probable that the income will be received and the amount can be measured reliaFAy. Income from government or other grants. whether "capital" grant5 or 'trevenue" grants is recognised when the charity has entitletnent ¢0 the funds, any perfOrrnan conditions attathed to the grants have been meL it is probable that the income will be received and the amount can bÈ fflured reliably and is noc deferred. Rental and other income connected to the provision of accommodation to beneficiaries is recognised in the year in vhich accommodation is provide(L 1.4 Expenditure Expenditure is recognised on an accrua15 basis once the ChariLy has a legal or constructive obligation to make paymenc Expenditure includes VAT which cannot be fully recovered. and 15 reporLed as parl of ¢he expenditure to which it relates. Charitable exp.enditure comprSses those costs incurred by the charity in the delivery of its actiyities and seryices for it5 er1Elaries. Governince costs Include rhose costs assoclated with meeting the constitutional and statutory requirernenrs of the ChtY and include the audit fe25 and costs linked to the strategic management of the charity. Al costs are allocated to the one charitable activSty. 1.5 Debtoys Trade and other debtors are recognised ai the settlement amount due afr any trade dixoun¢ offered and provision (or bad and doub¢ful debts. Prepayments are valued at the amount prepaid net of any tride discounts due.
LANGDON HOUSING (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020 Accountlng Policies (Continued) 1.6 Ca%h at bank and in hand Cash at bank and cash in hand indudes cash and short term highly liquid inYestTllents with a short maturity cf three rnonths or less from the date of acquisition or opening ol the deposit or sitnilar account. 1.7 Crèditors and provisions Credi¢ors and provisions are recognised where the Charity ha5 a present obligation resulting from a past event that wtll probably result in the transfer of funds to a third party and the amount due 10 settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recogni5ed ac their setdement amount alter allowing for any trade discounts due. 1.8 Financial instruments The Charity only has finanaal assets and liabilities of a kind that qualify a5 basic financial instruments. 8asic financial instruments are initially recognised at transaction value and subswuendy measured at their settlement value. 1.9 PeThsions For defined-contrlbutyon schemes. the amount charged to the SOFA in respect of pension cost5 and other posts retirement benefits is the contributions payable in the period. Any difference between the charge to the SOFA and the contributions payable to the Scheme 15 shown as an a55et or a liability in the balance sheeL 1.10 Operating leases Rentals Yable under operating leasos are Crged against income on a straight line basis over the period of the lease. l. I l Fund accounting Unrestrictsd funds are available for use at the dixretion of the Trustees in lurthÈrance of the general oblectives of the charity. Restricted fuwKJs are fund5 which are to be used in accordance WiLh specific restrictions imposed by dowvxs or which have bÈÈn raised by the charity for particular purposes. The aim and use of eich restricted funds 15 set out in the notes ts) the financial ststements. 2 Legal status of the Chartty The Charity does not have Sha capid and is limit8d by guarantee. In the •Yent of the company being wound u thÈ m2ximum amount which each member is liable to contribute is £10. Income from donations 2020 2019 Property Maintenance Fund 500 500 1,040 12-
LANGDON HOUSING (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNT5 FOR THE YEAR ENDED 31 DECEMBER 2020 4 Income from charitable activitie5 2020 2019 Provisron of housing and living arrangements Housing benefit Recharged expenses to residents 1,404,388 105,823 1,510,211 1,334,482 120,858 1,455.340 Income from charitable activityes of £1,510,211 {2019.. £1,455,340} were all unrestricted funds. Analysis of expenditure 2020 2019 Provision of houslng and livin8 arrangements Strdff costs Rent Repairs and maincenance Expenses recharged to residents Consdtancy Other direct costs Depreciation Governan costs Is8e note 61 107.19S 966.716 204.860 123,6B7 17,682 46,563 333 6.694 1,473,730 66.977 8B9.422 233,358 123,236 41783 24.529 6.821 1.387.126 Expenditure on charitable activitie5 was £1,473,730 {2019.. £1,387,126) ol which £1.473.081 was unrestricced 12019- £1,385,978) and £649 was restricted (2019.. £1,148}- Analysis of governance costs The Charity Initially identifies the costs of its support funttions. It then identifies those costs which relate to the governance function. Having identified it5 governance costs. the rÈmaining support costs together with the governance costs are all allocated agwn5t the one charitable acuyiry. Some support costs, finance and human resour. are managed and funded direcdy by The Langdon Foundation. 2020 2019 Other governance costs comprise: Auditor's remuneration Other costs 6.000 694 5.750 1.071 6,094 6.821 Net expenditure for thè yeav This is stated after charyn 2020 2019 Depreciation Auditorfs remunerdtion Opera¢ing lease rentals 333 6,000 966,716 5.750 889,422
LANGDON HOUSING (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020 Analysis of staff costs, trustee remuneration and expenges, and the cost of key management personnel 2020 2019 Wages and salaries Social securi¢y costs Pension 97,442 7,939 1,814 63.119 2,564 1.296 107.195 66,977 Nts èrnployees had employee benefits in (esS of £60,000. The key management personnel of the Charity comprise the senior managemenL team as detailed on page l ol the trustee5' reporL A5 explained in the Trustee's Report. the remunera¢ion of some management personnel is through Langdon Foundation. During the year ex gracia termination payments of £18,57012019 nil) were paid. None of the Trusthes lor any persons connected with them) re£ewed any remuneration during the year and none of them were reimbursed for expenses during the year. Staff Number5 The average monthly head count of employees during the year was as follows.. 2020 2019 Number Numbcr Provision of housing and INing arrangements Total l O Pension and other post-retirement benèfit commitment5 The Charity contribute5 towards thc L2ngdon Group Scheme run by Nest whlch Is a defined contribution scheme. The assets of the schomo are held separntely Irom those of the Charity in an indèpèndently adMinisred fund. The pensSon cost charge represents contrfbutlons payable by th¢ tharity ¢0 the fund. 2020 2019 Ct)ntribuuons payable by the company for the year 1,814 1,296 The expense has been allocated to unrestricted expenditure on the same basis a5 wage5 and sa1arte 14-
LANGDON HOUSING (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020 I l Related party transactions The charSty Is connected to The Langdon Foundation (registered charity nurnber.. 1142742, reElStered company number.. 76217141, Langdon Community {registered charity number.. 1086393, rw5tered cotnpany number.. 4055338} and Langdon College (w5tered charity number. l 08893& regrstered company number.. 4104466), all of which are incorporated charitable companies registered in England and Wales that do not have share capital and are limiced by guaran¢ee. At the year end, the charitable company had a creditor 01 1238.44912019: É21,3891 due to The Langdon Foundauon. Duting the year, Langdon Housing wa5 charged building leasÈ rents15 01 £326,97012019.. £290.410) Irom The Langdon Foundation and Ihe balance at 31" December 2020 rela¢e5 ¢0 ¢hese renrals. A¢ the year end. the charitable company owed £nil {2019: £6,370) to Langdon College for properLY repairs. The ultyrnate controlling party of Langdon Housing is The Langdon Foundation, a charitable company {company number 7621714, chirity number 1142742> in whose account5 the result5 have been con501idated. The Langdon Foundation is the sole member of Langdon Housin& The Langdon Foundation owns properties, raises lunds and gives donation5 to Langdon College, Langdon Community and Langdon Housin& Corhs01idated accounc5 lor the Langdon Foundaoon can be obtained from the same rstered office as the charitx. 12 CorporatAOll tax As a charity, Langdon Housing is exempt from UK w on incgme and gains to the extenc that these are applied co i¢5 tharitable object& No UK tax charges have arisen in the Charity. during the year or th¢ previous year. 13 Tangible fixed assets Fixture5, fittings Motor vehicles & equipment Trtal Cost As at l January 2020 Additions 10,712 7.995 5,979 16,691 7,995 Ag at 31 December 2020 18,707 5,979 24,686 Depreciation: As at I january 2020 Charge for year 10.712 333 5,979 16.691 333 As at 31 December 2020 11.045 5,979 17,024 Net book value A$ 31 December 2020 7,662 7,662 A5 31 December 2019
LANGDON HOUSING (A COMPANY LIMITED B Y GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020 14 Debtors 2020 2019 Trade debtors Other debtors Prepayments and accrued Income 105,290 23,966 18,361 72,103 19,542 46,1M8 147,617 137.693 15 Credltors: amounts falllng due wlthln one year 2020 2019 Trade creditors knovnts owed to group undertaknn85 Taxation and social security costs Oth(r creditors Accruals and deferred income 50,657 238,449 895 2.580 10,427 45,291 27.758 1.406 1,493 6.147 303,008 82,095 16 Analysis Of tha*ltabl¢ funds Analysi$ of movements in restricted funds Balance as at I January 2020 Incomlng Resources resource5 expended Transfers between funds Fund5 as at December 2020 Property maintènance fund soo 1649} 149 Analysis of movements sn restrlcted funds- prlor year BalancÈ as at I january 2019 Incoming resources Re59urces expended Transfers between funds Fund5 as a¢ 31 December 2019 Property maintenance fund (1.148) (108) 16.
LANGDON HOUSING (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020 17 Analysi5 of net assets between funds Unrestricttd Regtiicted fund5 funds Total Fund b21ances at 31 December 2020 are represenled br. Tansible FixÈd Assets Current assets Credltors of less than one year 7,662 453,255 (303,0081 7,662 453.255 (303,008) 157.909 157,909 Analysis of net a55ets between fund5- prior year unrestrict Restricted fund5 funds Total Fund bdance5 at 31 December 2019 are representsd by.. Cwrent assets Creditors of less th3n one year 203,022 (82,095) 203.022 182.0951 120.927 120,927 18 Commitments under operating leases L4nd and Bulldlngs The future minimum payments under non-cancellable operating leases are- 2020 2019 Expiry date: No later than one year Later than one year and no latsr than five years 164,104 In,975 45,988 284,015 218,963 19 Reconciliation of net mowemÈnt in fund5 to rtèt cash llow frorn operating activities 2020 2019 Net movement in funds Add back depr iation charge IDecrease)Iinca in debtors IncSe1(decre3sel in creditor5 36,981 333 (9,924) 220,914 69,254 388.031 (527,317) Net cash providÈd by l(used in) operating activitie5 248.304 170.032)