Charity Regi$tratlon No. 1142743 Company Reg•stration No. 07623246 (England and Wales) LANGDON HOUSING (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021 LANGDON HOUSING (A COMPANY LIMITED BY GUARANTEE) LEGAL AND ADMINISTKATIVE INFORMATION Trustees Mr Paul Joseph Mr S Levington Mr G Cohen Mr S B Fruhman (appointed 14 October 20211 Mrj Tobin {appoin¢ed 14 October 2021} Mr G Silver (resigned 18 August 20211 Mr W Rosenberg{resigned 31 March 20211 Chief Executive Neil Taylor Company Secretary Mr B Shine Charlty number: 1142743 (England and Wales) Cornpany number 07623246 (Engknnd and Wales) Principal address Unit 50& Centennial Park, Centennial Avenue, E15tre< Borehamwood WD6 3FG Reglstered Offict Unit 506, Centennial Par14 Centennial Avenue, Elstree. Borehamwood WD6 3FG Auditor Crowe U.K. LLP 55 LUdg2￿ Hill London EC4M 7JW Bankers Lloyds TSB 40 Spring Gardens ManCheS￿r M2 IEN LANGDON HOUSING (A COMPANY LIMITED BY GUARANTEE) CONTENTS Page Trustees, Annual Report Independent auditor's report sta￿rnent of financlal activities Balance sheet Statemènt of cashflows 10 No¢es to the accounts LANGDON HOUSING (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2021 Charity informatlo The Trvstees present their annual report and the financial statements for the period ended 31 December 2021. The accounts have been prepared in accordance with the accounting polleles set out in note I to the accounts and comp with Langdon Hou5ing'5 Memorandum 2nd Articles of Association. the Charltles Act 201 l. Companies Acc 2006 and the Charities SORP (FRS1021. Reference and adminSstrative details Langdon Housing is a registered charity (No. 11427431 and a company limiced by guarantee and not having share capital (No. 76232461. The rewstered office is a5 shown on the leg￿ and *dministrauve information page. The Trustees on the date of this repo￿ are as follows: Mr S Levington Mr G Cohen Mr Paul joseph Mr B Fruhman Mrj Tobin Mr W P Rosenberg was a Truttee for part of the period under review however he stood down on 31" March 2021. Mr G Silver was a Trustee for part of the period under review however he stood down on 18° Avgu5t 2021 rhe current Trustees have the power to remove and appoint Truscees. There are a maximum number ot 5 Trustees and not le5S than 3 who may be apPoin￿d to the Board. The orpnisatlonal oversight wi¢hin Langdon Housing re5t5 With Mr D lohnson-clarke (Head of Housing and Facility Management- Langdon Housing). to whom day to day operational maTragernent and complrance is delegated. The Managemen¢ Team of the Charity is.. Mr N Taylor Chief Executive Mr B Shine Finance Directorlcompany secretary Mr D lohnsorh-clarke Langdon Housing- Head of Housing and Facilities Management The Trustees of Langdon Foundation, the parent Charity. review management remuneration annually. Mr Taylor and Mr Shine are remvnerated through Langdon Foundition and not Langdon Housin& Structure¥ governance and management Langdon Housing was Incorpora¢ed and established Memorandum and Articles of Association on 5th May 201 S. Th¢ Articles were replaced by new Arricles on 16 June 2015. TthtrB¢)ard-ofrT.ruSteetri*r*xpon$lble.foTrthe"Q￿FJIl-go¥er.na￿e&0f-￿￿ngdOn-HoU5InV8.a-Ghar1ty-T.rU5t￿eS.-ar.tsC0ll0p£ed by the existing Board of TrusTres or nomI￿Ced by the Trustses of The Langdon Foundation. Individual Trustees are appointed for a renewable period of three years and may remain as Trustee5 for up to nine years unless removed in accordance with the provisions set out I￿ the Articles. There are no indiwdual subscriptions or orher sums payable by Members. The management of the eharity and regulatory compliance is delegated to the Chief Executive and an eflettive partnership exists with the Chairperson of the Board. The Chief Executive reports to Truscees at Board Meetings. The Langdon Foundation en5ure5 its salaries remain competitive in the labour markeL through condurting an annual pay review, paying individuals in line with normal industry practice and standards, and benchmarking S7&laries against other employers. Langdon determines the pay r2nge for a vataney prior to adverrising 1¢ following the cmtion andlor amendment of a job description and speeification. On appointment the starting salary is determined within that range to be offered to the successful candidate, based on relevant qualifications. experients and any recruitment 7&nd re￿n￿on needs. Senior Leadership salarses are based on the same economic lactors specified thoye. such as. qualifications, experience and other faccors like supply and dernand, but a spot salary is used on appointment and thereafter the cost of living increase. a5 appropria￿. LANGDON HOUSING (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2021 Structure? 8ovemance and management {continued) The Langdon Foundatyon ha5 intrt)duced a more organised induttion programme whith include5 a dedicated portal containing information about the history ol Langdon. guides on Trus¢ee responsibili¢ies. current strategy. governan documents and Board reports. The Board as a group receive presentations on compliance and laost practice at leas¢ annually. The external admsors of Langdon Houslng are as set out on the legal and admlnlstratlve page. Corporate governance Processes are in place to ensure tha¢ Performan￿ is monitored and that appropriate managemenc inlormation is prepared and revlewed regularly by both the Chairperson and the Board. Induction and training for new Trustees is frdcilitatsd by the Chief Executive and the Finance Director. Systems of intsrnal control are designed to provide reasonable assurance against material misstatement or loss and include.. an annual budget approved by the Trustses., regular consideration by the Trustees of general budget performance,. delegation ol day-to-day management and regulatory Complian￿ authority; and identification and management of risks. Objectives, activities, athievements and performance Langdon Housing's declared objectfves ar& "The objectives of the Charity are the rellef of individuals wSth special educauonal needs or mental Illness and other associated difficulties by the provision of accommodation and related services and {saYe for purposes Inciden￿ and ancillary to those objects). no other purposes. The Charity shall be established in accordance with the tenets of the Jewish religion" The Langdon Housing mission ststement is: 'Our mission is to provide and develop quality affordable housing opportunities for individuals, 8roup5 and families. promoting self-reliance and working in par¢nership within the Langdon Group of Charitie5 ¢0 support the wider organisational mission to Ilourish" This period's principal activities, objéttivÈs and achièvèments werè.. Successfully working with Langdon Community to meet the need for additional properties in all operational areas. All properties sourced In the correct loca¢ion and set up for tenants to move into. Successfully built rela¢ion5 Wlth the Housing Benefit officers in all boroughs to ensure Houslng Bendt applications are expedi an orrec¢ an appropria¢e ousing Itaw Preparing plans for imprtsyements of certain properties thanks to funds secured from Trusts by the Langdon Foundation (the Covd19 pandemit has however delayed the implementation of these Improvements) Additional properties were provided for individuals either through the Langdon Group or third party rentals. Financial r¢vièw, management policles and results for the perlod The Statement of Financial Activities (SOFA), set out on p￿e 8, Shows thit Langdon Housing had income of £1.640,593 12020.. £1.510.711} of which £1.566.67912020.. £1,473,730) wa5 paid out on expenses. Iwdving a surplus of £73,9141202tr. £36,981). Langdon operdtes its housing service to high s¢andards and regards the quality of the proMsion to be comparable with the top tier of any of the competition. Langdon houses its. Members in a mix of owned properties 11131 and rented properties {2131 but continues on its strntegy of trying to accumulate as many owned properties as is feasible. However. Langdon does operate in a challengng enwronment of rising property prices, a lack of supply of quality properties to purchase and an increasing burden of raising deposits fer purthases. The properties sit within Langdon Foundation and are rented to Langdon Housing at market value. LANGDON HOUSING (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2021 Prlncipal sources of funding Social Security reteépts In the form of Housing Benefit constitute the majori¢y of the Charicls income. Other funds are raised by the Langdon Foundation who or￿nIse fundrdising events and co-ordinate the activities of our supporters in the wider community on behalf of the Langdon charities. Langdon does not use profes5i0nal fundrdisers or Involve commercial partieipators. There have been no complaints about fundraising activity this year. Reserves The view of the Board of TrUS￿e5 is that Langdon Housing should rettin 5ulficieni reserves to cover 3 months, loss of Housing Benefit Income and the pdicy wa5 reviewed during the period. This consideration also factors in current extern threats to funding so as io maximise service continuity. Based on the budget for the year ending 31 December 2022 thls would amount to c£420,000 and the B02rd will endeavour to accumulate the appropriate level of reserves. At 31 December 2021. Langdon Housing had unrestricted balance Sheet assets of £395.097 {2020= £460,917) with liabilive5 due of £163,27412020.. £303,W8), leaving the total Unrestricted financial reserves a¢ £231,823 (2020= £157,909). Future year5 s￿r￿useS are expetted to bring the reserves to the desired leyet. Staff tralnlng and career development Langdon Housing is tommitted to the trainins career development and welfare of its employees. An individual's career development is assessed through annual appraisal and supeNslon. Trwning programmes are provided to mee¢ ongoing needs, with the aim of developing employees for both th￿r current and their luture roles. The training strategy and annual plan being based on the Langdon Housing's organIsation￿ objectives and the requirement5 of the wider Langdon Group. Future pl￿$ Langdon Housing will continue to build upon the Sound fiTrancial base established for the service and accumulate an appropriats leyel ofre5erves and to continue to manage the growth in homes and districts. as determined by the Strategic Plan. We continue to monltor staffing leve15 to ensure an effettive service br members. Connected charities Langdon Housing is connetted to three charities these bangThe Langdon Foundation. Langdon Community and Langdon College. which are all registered with the Charity Commission. The Langdon Foundation raises funds and provldes finance ¢0 Langdon College, Langdon Community and Langdon Housing. Langdon Housing manages its operational services from rented premise5 owned and let to them by The Langdon Foundation and external third parties. The Langdon Foundatlon has the right to appoint and remove trustees of Langdon Colleg&.LangdQn.HaJJsiDg.4nd.Langdo￿. .. . Risk management Risk5 are identified and assessed at an operational. project and corporate level, winst the agreed aims and objettlves of the Charity. We have Identified 2 significant risk5 that face the Charity. The maintenance of financial stability is at risk as the Charity'5 income is entirely in the form of housing beJ)efit which is being squeezed by current government pollcy. We regularfy review our cash positlon and forecast We have a robus¢ budgeting process and a regular rtrlorecasting cycle. There is a risk that our governance and strw is incorrett and may not improve the lives of people with learning disabilities. We will be regularly rewewing our governance Structures and performance. We have processes in plate to lead 5trace&c change and we are develowng our ability to measure the impac¢ WÈ make. The Covid19 pandemic has added an additjonal risk in 2020 and 2021 and we prepared specific action plans in response to the sltuition. Additional PPE was purchased as needed and we adapted our way ol woth'ng with those we support and in our offices. Most ol the income relates to Housing Benefi¢ Irom statutory sour￿$ and ¢his has remained secure. Costs have been reduced where possible. LANGDON HOUSING (A COMPANY LIMITED BY GUARANTEE) TRUThES' ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2021 Pubjlc benefit The Trystees have wlth thelr dury In s￿0￿ 17 of the Charitses Att2011 to hive due regard to thè guidance p￿tIShed bythe Chari¢y Commlsslon.Theb8nefittothe publlc is m*nlfesdydem¢Jnstrted by the achlevements tontalned in thls repor¢ of whlth seek5 to extend and Improv? thè carn of young peopte whos• Ilfe chance4 aspirntions and contrlbudovts to sod¢ty will be enhanced &$ a result Dl$dosure of Inforniatlofb to auditors Eith ofthe Trns¢eès has confinned thatthere is no InfornAtlon of whlch they are aware whlch 15 rel¢W￿ to thé aud¢ but ofwhich the audltor Is ￿Ware. Thoy have each further confirmed that they have each taken aPprOw￿ steps to Identlfy such releyant Informadon and to e5tablSsh thit the #udltors are awarn of Such InfOrn￿l0 Trnstees, r8sponslbllldqs in rolation to tho financial statements Th¢ Chartys Trusta&s (who art also the dlrertors of La￿n Housing fr)r the WrpO￿ of cornpany liw) arè respon5iN• for preparfng a tru5tees' annual report and financ1￿ statements in accordance wSth appllcaN8 law and United Kingdom Accounting Standard5 (Unwl Klngdom Generally Accepted AccouTrtlng Pracdce) Indudlng FRS 102'The Repordng st￿d￿rd appllcaNe in the UK and Republlc of Ireland" Company law require5 the Chyrlty trusteesto preparn flrrdndd statements foreath yearwNth 8lYe attwe andlair vlew of the state of of the charlttble company and of the incoming resourw and applEafion of rwourc4 indudlng th? incomeand expendiwr< of the dyrftsble comp3nyforthatperiod. In preparingthelhmnclal statement4thetnJstees are wuired to: sdètt sultsble accountlng potlcles and then appEy th￿n consFstsndy.' observe the methods and prindples In the Charities SORP (Statement of Recommend￿ Practice), make ludgEM￿lts and estimat¢$ that arè reasrymble and pruden sutevthether3pplicable UK accountbngstandards have been follow& sub]ettto mat•rfal depar¢urts dlsclosd and expl￿ned In th6 flTran£lal Sfatements Prev￿ the statements on the going concwn hsls unless It Is In8pproprlAte to pre5um• that the Chatlty wlll contiwe In busknes& Thetru5tees are responsliqe forkeeplngproperaccovniing records th&t dlsclose wlth reaSOTHble acojrnq atanydma the finantSal posltlon of tho Chartty and to enable them to ensur0 that the ftnHnclxl ttatements compty wbth tha Companie&Act 2006and the Charlrfs consutirtlon.Theyarealso wonsible forsafeguardlngthe a5sEts ofthe Charity and the group and hence taklng reasonable step5 for the preVen￿On #nd detéttlon of fnud and other Irre8u13rltle& On behalf ofthe board ofTn Mr Pjosepii Trustee 14 D8￿mber 2022 LANGDON HOUSING (A COMPANY LIMITED B Y GUARANTEE) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF LANGDON HOUSING Independent Auditorfs Report to the Members of Langdon Housing Opinion We have auditsd the financial statements of Langdon Housing I'the charitsble company) for the yearended 31 December 2021 which comprise the Statemen¢ of Financial Activiti￿, Bala￿e Sheet. Cash Flow Ststement and no¢es to the financial staternents, including significant accounting policies. The financial reporcing framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, includlng Financial Reportyng Standard 102 The Financil Reporung Standard applicable in the UK and Republie of Ireland Iunlted Kingdom Generally Accepted Accountlng Practice). In our oplnlon the financial statsment&' give a true and fair view of the srAte of the chartsble compaTrls affairs as at 31 December 2021 and of the its income and expenditure. for the year then ended,. have been properly p￿Pared in accordance with Unitsd Kingdom Generally Accepted Accounong Practitt; and have been prepared in accordance wlth the requirements of the Companies Act 200& Basis for oplmlon We conducted our audit in accordance wich International Standards on Audltlng {UK) {ISAs (UK)) and appllcable law. Our responsilxlities under those standards are further described in the Auditols responsibilities for the audic of the financial statements section ol our report. We are indepemdent of the charitable compAny in accordance with the ethical requirements that are relevant to our audit of the financial sta¢ements in the UK, including the FRC'S Ethical Standard, and we have lulfillad our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtsined is sufficient and appropriao to provlde a basis for our opinion. Conclu5ion5 relating to going concern In auditing the financial statements, we have conduded that the trustee's use gf the going concern basis of accounting in the preparntion of the financial ststements is appropriats. Based on the work we have performed, we have not identified any material uncertaintie5 relitingto events or condi¢ions tha¢ Individual￿ or collectively, rnay cast significant doubt on the charitable companls abllity to continue as a going concern for a period ofat leas¢ twelve months Irom when the financial statements are authorised for Issue. Our responslbiliues and the responslbilitie5 06 the trustee5 with respect to going concern are described in the relevan¢ settions of this reporL Other Infoymation The trustees are responsible for the other infomiatlon contsined within the annual reporL The other informa￿On comprises the information included in the annwdl repo¢ other than the financial statements 3nd our auditor's report thereon. Our opinion on the financial statement5 does noc cover the other information and extept to the extent otherJNis&.expliudyJtat¢d.in..our r&wlyi￿OnQ￿.-. m of assurance conclusion thereon. Our responsibility is to re e other informatlon anO,-In doing so, Consi￿er w ert erin ormation is ma Inconsistent with the financial statements or our knowledge obtsined in the audit or otherwise appears to be materially mlsstated. If we identify such material inconsistencies or apparent rnaterial misstatements, we are required to detsrmlne whether this gives rise to a material misstatement In the financi￿ statements themselYe& If, based on the work we have performed, we conclude that there is a material mi5Statement of this other in1orr￿atI0n, we are requir& to report that fact. We have nothing to report in this regard. OpinSon$ on other matters prescribed by the Companies Act 2006 In our opinlon based on the work undertaken in the course of our audit the information given In the trustees. repor4 which includes the direttors, report prepared lor the purposes of company law. for the financial year for which the financial statements are prepared Is c0Th￿Stent with the financial statements. and the directors. report included withSn the tru5tees' report haye been prepared accordance with appllcable legal requlrements. LANGDON HOUSING (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF LANGDON HOUSING Matters on which we art requlred to report by exceptlon In light of the knowledge and understanding of the charitable company and its environment obtained In the course of the audit, we have not identified material misstatements in the directors. repor¢ included within the trustees, report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: deqUa￿ and proper accounting records have not been kept,. or the financial statements are not in agreement with the accounting records and returns. or certain disclosures of trustees, remuneration specified by law are not made., or we have noc received the informatyon and explanations we requlre for our audi¢ or the trustees were not entitled to preJAre the financlal statements in accordance with the small companies regim¢ and take advantage of the small companies, exemptions In preparing the trustees. directors. reptxr and from ¢h¢ requirement to prepare a strate￿C report Responsibilities of trustees As explalned more thlly in the trustees, responsibilities statement set out on page 4, the tyustees (who are a150 the directors of the charitable company for the purposes of company law) are responsible lor the preparation of the financial sratements and for beingsatisfied thatthey &ve a true 2nd fair view. and for such intsmal control as the trustees detsrmine is necessary to enable the preparatlon of financial ststements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements. the trustees are responsible for asse5singthe charitable company's ability to continue as a going concern, disclosing. as applicable, matters relited to going concern and using the going concern basis of accounting unless the trustees eithér intènd to Ilquidats the charitable company or to cease operation5, or have no realistic alternatNe bu¢ to do so. Auditor's respon$lbllitles for the audlt of the financial statemènts Our oblectives tre to obtain reasonable assurance about whether the flnanclal statsments as a whole are free from material misstatsment, whether due to fraud or error, and ¢0 issue an audltor's report that includes our opinion. Reasonable assurance is a high levd of assurance, bu¢ is not a guarantee that an audit conducted in accordance with ISAS IUK) will always detect a Materi￿ mi55tacement when it exists. Misstatsmencs can arise from fraud or error and are considered material if. individually or in the aggrega￿. they could reasonably be expec¢ed co influence the economlc decision5 of users taken on the basis of these financial statements. Details of the extent to which the audit was Coll￿dered capable of detecvng irregularities. including fraud and non- compliance with laws and regulation5 are set ¢￿t below. A thrther description of our responsibilities for the audit of the financial statements Is located on the Financial Reporting Council's website at: www.frc.o .ukla This description forms part ol our auditor's reporL Extent to which the audit wa5 considered capable of detecting irregularities. including fraud Irregularltles, including fraud, are instances of non(o￿￿IHE¢)m￿n(LeX￿ndlw￿6$Ou￿Inder￿￿v￿￿ the Companles Act 200& LANGDON HOUSING (A COMPANY LIMITED BY GUARANTEE) BALANCE SHEET AS AT 31 DECEMBER 2021 Compony rels¢ratlon number: 07623246 {E￿and and Wales) Note 2021 2020 Fixed Assots 13 21.137 7,662 Current assets.. 14 222,939 151,021 373.960 147,617 305,638 453.255 Cash at b3nkand in hand Totsl Current assets Liabllld¢s'. Creditors: Amounts falllng due wlthin on8 year Net current assets 163.274) 210,686 (303.008) 150,247 Total net assets 231.823 157,909 The fund5 0( the Charltr. Restiicted funds un￿l￿d fund5 16 231,823 211,823 157,909 157.909 Total tsnds 17 Thè financlal Statements have been Prerwéd In accordance whh the spedal provlslons of tho Companles Act relatlng to small companies. The notes at p4¥es I I to 18 forn) partof thtse acco Mr P Joseph TT115tee Approved by ¢he trystw and authorfsed for i55uè on: December 2¢)22 LANGDON HOUSING (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2021 Note 2021 2020 Cash flows (rom operating activities: Net cash {used In)Iprovided by operating activities 19 (135,572) 248.304 Cash Ilows from investing activities: Purchase of tsngiEAe fixed assets (19,045) 17.9951 Net cash used in investing activitles {19,045) 17,9951 Change in cash and cash equivalents in the reporting period (154,617) 240.309 Cash and cash equivalents at the beginning of the reporting period 305,638 65.329 Cash and cash equival¢nts at the end of the reportlns peYSod 151,021 305,638 io- LANGDON HOUSING (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021 Actountlng Policies The principal accounrlng policies adopted* judgements and key sources of estimation uncertainty in the preparation of the financial statements are as lollows: l. l Basis ol preparation The financial statements haye been prepared in accordance with Accounting and Reportyng by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective I january 20151- (Charities SORP (FRS 102)), the Financial Repo￿n8 Standard applicable in the UK and Republic of Ireland {FRS 1021 and the Companies Att 2006. The Charity meets the definition of a public benefic entity under FRS 102. Assets and liabilities are tsnitially recognised at historical c05¢ Qr transacuon value unles5 otherwise stated in the relevant accounting pollty. 1.2 Preparation of the accounts on a golng concern ba515 The accounts have been prepared on a going concern basis and the trustees believe there to be no material uncertainties a￿)ut the Charity's ability to continue as a ￿n8 concern. If necessary. Langdon Foundation will provide support and a le¢ter of supporr covering the period to 31" December 2022 is provided by The Langdon Foundation. More informatyon in respect of factors affecting income ind expenditure are set out in the Financial Review on ptge 2 and 3. 1.3 Income Income is recognised whon the Charity has entitlement to the funds, any performance conditions attached to the 1￿mIs} of income have been MK ic is probable tha¢ the Income will be re￿iVed and the am¢)unt can be measured reliably. Income from government or other grants. whèther "capital" grants or "revenue" grwts is recognised when the Charity has entitlemen¢ ¢0 the funds, any performance conditions attached to rhe grants haye been me( it is probablè that the income will be received and the amount Cdn be measured reliably and is not deferred. Rental and other income connec¢ed to the provision of accofflmodation to beneficiaries is recogni5ed in the year in which accommodation is provided. 1.4 ExpendI￿re Expenditure is recognised on an accruals basis once the Charlty has a le￿1 or constructive obligation to make paymenL Expenditure Includes any VAT which cannot be fully recovered. and is reported as part ol the expenditure to which 1¢ relates. Charitable expenditure comprfses those costs incurred by the clRrity In the delivery of it5 activities and service5 for its beneficiaries. Governance costs include those costs associated with meeting the Constitu￿OnI1 and statutory requiremenrs of the Charity and include the audit leès and costs linked to the strategic management of the charity. All costs are allocaced to the one charltable acvvity. LANGDON HOUSING (A COMPANY LIMITED B Y GUARANTEE) NOTES TO THE ACCOLINTS FOR THE YEAR ENDED 31 DECEMBER 2021 Accounting Policie5 (Continued) 1.5 Tangible fixed assets and depreciation Tangible flxed assets are stated at cost less depreciation. Depreciation is provided at rites calculated to Wri￿ off the cost less estimated residual Wdlue of each asset over its èxpected useful lif< as fdlows: M(xor vehleles 25% straight line The policy with respect ¢0 impaimiene reviews olfixed a$5rf5 15 thac these assets are inspected regularly for any imwrment and any defec¢ remedied so as to matntain the current Yalue. 1.6 Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered and provision for bad and doubtful debts. Prepayments are valued ar the amount prepaid ne¢ of any trade dlscounts due. 1.7 Cash at bank and in hand Cash at bank and cash In hand includes cash and short term highly liquid investments with a Short maturity of three months or less from the date of acquisition or openSng ol the dep951t or 5imllar account. 1.8 Creditovs and provisions Creditors and provision5 are recognised where the Charity has a present obllgation resulting from a past event that will probably resul¢ in the transfer of funds to a third party and the amount due to settle the oblEation can be measured or estymated reliably. Creditors and proMsions are norm￿lY recognlsed at their setdement amount after allowing for any trade discounts due. 1.9 Finanaal instrum¢nts The Charity only has financial assets and liabilitie5 of a knnd that qualify as basic fftnancial instruments. 'Ba5ic financial instruments are initially recogni5ed at transaction vilue and Subsequently measured at their settlemen¢ valu l. l O Pension5 For def1ned.contribu￿OTh schemes, the amount charged to the SOFA in respect of penSlQWh Costs and other pos¢- retyrement ben e contri the contributions payable to the scheme is shown as an asset or a liability In the balance sheet. 1.1 l Opeyatifig leasas Rentals payable under operaung leases are charged ardinrt income on a straight line basis over the period of the lease. 1.12 Fund accounting Unrestrirted funds are available lor use at the discretion of the Trustees in furtherance of the gen￿￿ objectives of the chariry. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or whith have been raised by the charity for particular purpose& The aim and use of ¥dch restritted funds is set out in the notes to the financial 5ta¢8ments. 12- LANGDON HOUSING (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021 2 Legal status of the Charity The Charity does not have share capitsl and is limited by guarantee. In the event of the Charitsble Company being wound up, the maximum amount which each member is liable to contribute is £10. Income from donations 2021 2020 Property Maintenance Fund 464 5ffi 464 500 4 Income from charitable activities 2021 2020 Prov5sion of housing and living arrangements Housing beneffic Recharged expenses to residents 1.518.401 121,728 ,640,129 1,404.388 105,823 Income from charitsbie activltles of £1.640.129 (2020.. £1,510,211 I were all Unre5tri£￿d funds. Analysis of expenditurè 2021 2020 Provlslon of housing and living arrangements Staff costs Rent Repairs and maintenan Expenses recharged to resldents Consultan Other direct costs Depreciation 138,734 1.058.259 147.525 133,381 107.195 966,716 204,860 123,687 17.682 46.563 333 6,694 1.473,730 75,580 5,570 1,566,679 Expenditure o* Charitable activities was £1,566.679 {2020.. £1,473,730) of whith £1.565.535 ￿d$ unrestrlrted 12020.. £1,473,081) and £l.IH was re5tricted12020: £649}. LANGDON HOUSING (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021 Analy515 of govemance costs The Charity initially identifies the costs of irs support functions. It then Identiffies those costs which relate to the governance function. Having identified Its governance costs. the remalning support costs together with the govemance eosts are all allocated against the one Charitable acuvity. Some support Costs, fiETrance and human resource5, are managed and funded direttty by The Langdon Foundatlon. 2021 2020 Other governance costs comprise.. Auditor's remuneration Other c05t5 6,420 1,210 6,000 694 7,630 6.694 Net expendlture for the year This is stated after charyn 2021 2020 Deprea7&tiOn Auditor's remuneration Opernting lease rentals 5,570 6,420 1,058.260 333 6.CQO 966.716 Analysis of staff costs, trustee remunèration and expenses, and the cost ol key managemènt per5onn¢l 2021 2020 Wages and salarles Social security costs Pension 124,680 11,449 2,605 97,442 7,939 1,814 138,734 107.195 Noem ee5 had em￿oyee beneffits in exces5 91 £60,000. The key management personnel of the Charity comprise the senior managemenc tsam as detalled on page l of the trUS￿S, report. As explained the Trustee's Repor¢ thè rèmunerdtion ol some management personnel is through Langdon Foundation. During the year ex grntla termlnation payments of £9,800 (2020 £18,570) were paid. None of the Trustees lor any persons connected with them) receNed iny remunerntion during the year and none of them were reimbursed for expenses during the year. LANGDON HOUSING (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021 Staff Numbers The average monthly head count of employees dur(ng the year was as follows.. 2021 Number 2020 Number Provision of housing and living arrangements l O Pension and other post-retirement benefit commitments The Charity contributes cowards the Langdon Group Scheme run by Nest which is a defined contributlon scheme. The assets of the scheme are held separately from those of the Charity In an independendy administered fund. The pension cost charge represents contributions payable by the charity to the fund. 2021 2020 Contrit¥Jtions payable by the company for the year 2,605 1,814 The expense ha5 been allocated to unrestrtcted expenditure on the same basis as wages and salines. I l Related party transactions The Charity is connected to The Langdon F¢)undation {re&￿stered eharlty number.. 1142742, registered company number- 7621714). Langdtsn Community {registered charity number.. 1086393, ￿￿'Stered compiny number.. 4055338} and Langdon College (registered charity number.. 1088936, reystered company number.. 41044661, all of which are incorporated charitable companies regI￿red in England and Wales that do not have share capi and are li¥nited by guarantee. At ¢he year end, the charitable company had a creditor of £99.00512020.. £238.4491 due to The Langdon Foundwon. During the year, Langdon Housing was d)arged building lease rentals of £325,29612020: £321970) from The Langdon Foundation and the balance at 31" December 2021 relates to these rentals. The ¢Jltimate controlling party of Langdon Housing is The Langdon Foundation, a charitable company {charity number 1142742. company nurri inw 05e accounts t ts ave b.eeh corrisolidate.dlhe Langdon Foundatiori 15 the sole member of Langdon Housing. The Langdon Foundation owns properties, rydises funds and ves donation5 to Larngdon Colleg< Langdon Community and Langdon Housing. Consolidated accounts for the Langdon Foundation can be obtained from the Same registered office as the charity. 12 Corporation tax As a charity, Langdon Housing Is exempt from UK tax on inci)me and gains to the extent that these are applled to its charitsble objects. No UK tax charges have arisen in the Charity, during the year or the previous year. LANGDON HOUSING (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021 13 Tanyjble fixed assets Flxtures. fittings & equlpment Motor vehlcles Total Cost: As at l Jinuary 2021 Additions 18.707 5,979 19,045 24.686 19.045 As at 31 December 2021 18,707 25,024 43,731 Depreciation: As at I january 2021 Charge for year 11.045 1.999 5,979 3.571 17,024 5.570 As at 31 December 2021 13,044 9,550 22.594 Net I￿0￿ value As 31 December 2021 5.663 15,474 21,137 As 31 December 2020 7.662 7,662 14 Debtors 2021 2020 Trade debtors Other debcors Prepayments and iccrued Income 178.167 28,773 1 S.999 105,290 23,966 18,361 222,939 147.617 hin one ear 2021 2020 Trade creditors Amounts owed to group undertakings Taxation.alld social securiry cos¢s Other ereditors Accrnals and dekned income 43,216 99,005 2,433 16,308 2,312 50.657 238,449 895 2.580 10.427 163,274 303.008 LANGDON HOUSING (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021 16 Analysis of charitable funds Analysls of movements in restrirtèd funds Balance as at I January 2021 Incoming Resources Translers resource5 expended between fund$ Funds a5 at 31 December 2021 Property maintenance fund 464 (1,1441 680 Analysis of movements in restricted funds- prior year Balance as at l January 2020 Incorning re50urce5 Resources expénded Transfers between funds FundSa5￿31 December 2020 Property maintenance fund 500 {649) 149 17 Analysis of nét assets ￿tween funds Unrestricted Restricted fund5 funds Total Fund balance5 at 31 December 2021 are represented by- Tangible Fixed A55ets Current assets Credltors of less than one year 21,137 373,960 1163,2741 21,137 373.960 (163,274) 231.823 231,823 Analysis of net assets between fund5- prior year Unrestricted Restricted fund5 lunds Total Fund balances a¢ 31 December 2020 are represented by. Tangible Fixed Assets Current assets C￿ltorS of less than one year 7.662 453,255 1303,0081 157,909 7,662 453.255 {303.0081 157,909 LANGDON HOUSING (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021 18 Commitments under operatlng leases Land and Bulldings The future minimum ￿yMents under non-cantsllable operiting leases are.. 2021 2020 Explry da¢e'. No later than one year Latrr than one year and no later than five years 293,686 123,523 164.104 417,209 284,015 19 Reconciliation of net movement in fund5 to net cash Ilow from operatlng activiti?$ 2021 2020 Net movement in funds Add back depreciation charge Ilncrease} in debtors IDecrease)Iincrease in creditors 73,914 5,570 (75,322) (139,734) 36,981 333 {9,9241 220,914 Net cash (used in)Iprovlded by operatlng activities {135.572) 248,304