Charity Registration No. 1142743 Company Règlstration No. 07623246 (England and Wales) LANGDON HOUSING (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022
LANGDON HOUSING (A COMPANY LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION Trustèes Mr Paul Joseph Mr S Levington Mr G Cohen Mr S B Fruhmari Mr l Tobin Chief Executive Neil Taylor Company Secretary Mr B Shine Charity number: 1142743 (England and Wales) Company number 07623246 {En¥and and Wales) Principal address Unit 506, Centennial Park, Centennial Avenue. Elstree. Borehamwood WD6 3FG Registered Office Unit 506, Centennial Park. Centennial Avenue, E15tree, Boreharnwood WD6 3FG Auditor Crowe U.K. LLP 55 Ludgace Hill London EC4M 7IW Bankèrs Lloyds TSB 7 Floor 40 Spring Gardens Manchester M21EN
LANGDON HOUSING (A COMPANY LIMITED BY GUARANTEE) CONTENTS Page Trustees. Annual Report Independent auditor's report Staternent of financial actyvities Balance sheet Statsment of cashflows Notes to the accounts
LANGDON HOUSING (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2022 Charity information The TruseS present their arbnLfdl report and the fit)ancial statements for the period ended 31 December 2022. The accounts have been prepared in accordance with the accounting policies set out in note I to the accounts and comply with Langdon Housing s Memorandum and Articles of Association. the Charities Act 2011. Companies Act 2006 and the Charities SORP IFRS1021. Reference and administrative details Langdon Housing is a registered chariry (No. 11427431 and a company limited by guarantee and not having Share capital (No. 7623246). The registered office is as shown on the legal and administrntive information page. The Trustees on the date of this reporc are as follows- Mr S Levington Mr G Cohen Mr Paul Joseph Mr B Fruhrnan Mr l Tobi The current Trustees have the power to remove and appoint Trusteek The minimum number of Truxees is 3 and the maximum number is 5. The organi5ational oversight within Langdon Housing rests with Mr D Johnson-clarke (Head of Housing and Facility Management- Langdon Housingl, to whom day to day operational management and compliance is delegated. The Management Team of the Charity is.. Mr N Taylor Chief Executive Mrs H Sowa Director ol Operations Mr B Shine Finance Directorlcompany Secretary Mr D lohnson-clarke Langdon Hou5ing- Head of Housing and Facility Management The Trustees ol Langdon Foundation, the parent Charity, review management remunerition annually. Mr Taylor and Mr Shine are remunerated through Langdon Founda¢ion ind not Langdon Housing. Mrs Sowa is remunerated through Langdon Community. Structurép govèrnantè and management Langdon Housing was incorporated and established Memorandum and Article5 of A55ociation on 5th May 201 l. The Articles were replaced by new Articles on 16 lune 2015. The Board of TrL¢Stees is responsible lor the overall governance of Langdon Housing as a ch2rity. Trustees are co.opted by the existing Board of Trustees or nominated by the Trthstees ol The Langdon Foundation. Individual Trusrees are 2ppointed for a renewable period of three years and rnay remain as Trustees lor up co nine years unless removed in accordance with the provisions set out in the Article5. There are no individual subscriptions or oiher sums payable by Members. In 2022, Langdon announced that Langdon 2nd Kisharon la charity offering similar services to Langdon) were considering t proposed merger. Consultations and Due Diligence have taken place and it is planned that the merger should be effective in 2023. Thè managemenr of the charity and regulatory compliance is delegated to the Chief Executive and an effettive partnership exists with the Chairperson of the Board. The Chlef Execudve and the Head of Housing and Facility Management report to Trus¢ees at Board Meetings.
LANGDON HOUSING (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2022 Structure> governance and management (continued) The Langdon Foundation ensures its 511aries remain cornpecitive in the labour market, through conductlng an annual pay review. paying individua15 in line with normal industry practice and standards, and benchmarking Salaries againsc other employers. Langdon determines the pay range for a vacancy prior to advertising ir. lollowing the creation andlor amendmenc of a job description and specification. On appointment the starting salary is decermined within that range to be offered to the successful candidate, based on relevant qualifications, experience 2nd any recruicment and retention needs. Senior Leadership salaries are based on the same economic factors specified above, such as. qualifications, experience and other factors like supply and demand. bltt a spot salary 15 used on appointment and thereafter the cost of Irving increase. as appropriats. The Langdon Foundatyon has introduced i more organised indvctyon programrne which includes a dedicated portal containing information about the history of Langdon, guides on Trustee responsibilities, current strategy. governance documents and Board reports. The Board as a group receive presentations on compliance and latest practice at least annualty. The external advisors of Langdon Housing are as set out on the legal and idministrative page. Corporate governance Processes are in place to ensure that perforn)ance 15 monitored and thatappropriate management inforn)ation is prepared and reviewed regularly by both the Chairperson and the Board. Induction and training for new Trustees is facilitated by the Chief ExecutNe and the Finance Director. Systems of internal control are designed to provide reasonable assurance against matrrial missiatement or loss and include: an aftnual budget approved by the Trustee& regular consideration by the Trustees of general budget performance; delegation of day-to-day management and regulatory compliance authority,. and identification and management of risks. Objectives, activitles, achievement5 and performance Langdon Housing s declared objectives are.. "The objectives of the Charity are the relief of individuals wlth special educatyonil needs or menral illness 2nd other associated difficulties by the provision of accommodation and relaced services and 15ave for purposes incidental and ancillary to those objects}, no other pvrp05es. The Charity shall be established in iccordance with the tenets of the Jewish religion" The Langdoth Housing mission statement is.. 'Our mission is to provide and develop qualicy affordable hou51ll8 OPPOrtunities lor individuals, groups and families, promoting self-reliance and working in parcnership within the Langdon Group of Charitie5 to support the wider organisational mission to Ilourish" This period'5 principal activitie5, objectives and achièvements were.. Successfully working with Langdon Community to meet the need lor additional prOpere$ in all operational areas. All properties sourced in the correct location 2nd set up for tenants to move into. Successfully built relations with the Housing Benefit olficers in 311 borou8h5 to ensure Housing Benefit applications are expedited and Ihe correct and appropria Housing Benefit award is obtained. Preparing plan5 for improvement5 of certain properties thanlcs co funds secured from Trusts by the Langdon Foundation (the Covd19 pandemic delayed the implementation of these improvemencsl Additional properties were provided lor individu31s either through the Langdon Group or third party rentals.
LANGDON HOUSING (A COMPANY LIMITED BY GUARANTEI ) TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2022 Financial review, management policies and results for ne period The Statement of Financial Actiwties ISOFAI, set out Ot) page ib shows that Langdon Housing had Income of £1,761,212 (2021.. £1,640,593} of which £1,746,65112021= £1,566,679) w.i.. paid out on expenses, leavlng a sury)lus of £14,56112021: £73,914). Langdon operates its housing service to high stardards and rtrg3rds the quality of the provision to be comparable with the top tier of any of the competition. Langdon h¢wses its. I'lembers in a mix of owned properties 11131 and rented properties12131 but continues its strategy of trying to accumiilate as many owned properties as is feasible. However. Langdon does operate in a challengng environment of rising property price> a lack of supply ol quality properties to purchase and an increasing burden ol raising funds for purchases. The propertie5 Slt within Langdon Foundation and are rented to Langdon Housing at market value. Principal source5 of funding Social Security receipts in the forni ol Housing Benefit constitute the majority of the Charity's income. Other funds are raised by che Langdon Foundation who organise lundraising events and co-ordinace the activities of our supporters in the wider community on behalf of the Langdon ch3ricie5. Langdon does noc use prolessional fundraisers or involve commercial articipators. There have been no complaints about lundraising activity this year. Reserves The view of the Board of Trustees is that Langdon Housing should retain sufficient reserves to cover 3 months, loss of Housing Benefit income and the policy was reviewed during the period. This consideration also fattors in current external threats to funding 50 35 to maximi5e service continuity. 8ased on the budget for the year ending 31 December 2023 this would amount to £420,000 and the Board will endeavour to accumulate the appropriate level of reserves. At 31 December 2022, Langdon Housing had unrestricted balance sheet assets of £379.12512021.. £395,097) with liabilities due of £132,74112021.. £163.2741. leaving the total unrestricted financial reserves at £246,38412021.. £231,823). Future years surpluses are expected to bring the reserves to the desired level. The Charity is part ol the wider Langdon Group and operates as an integral part of the charitable Group. The Group held reserves of £7,714.623 at 31 December 2022 and has a substantial property portfolio valued at over £IOm thar if needed could be used to provide further cash flow subjett to obt3ining the relevant pemiission Irom finance providers. Staff training and career development Langdon Housing is commitced co the training, career development and welfare of its employees. An individual's career development is assessed through annual appraisal supervision. Training programmes are provided to meet ongoing needs, with the aim of developing employee5 for their current and their fucure roles. The training strategy and annual plan being based on the Langdon Housing's organisational objectives the requirement5 of the wider Langdon Group. Future plans Langdon Housing will continue to build upon the sound financial base established for the service and accumula an appropriate level ol reserves and to continue to manage the growth in homes and districts, as determined by the Sirateyic an. We continue to monitor staffing levels to ensure an effective serwce for members. Connected charities Langdon Housing is connected to three charities these being The Lafhgdon Fo¢Jndation. Langdon Community and Langdon Colleg< whlch are all registered with the Charity Commission. The Langdon Foundation raises funds and provides finance to Langdon College. Langdon Community and Langdon Housing. Langdon Housing rnanages its operational *rYices from rented premises owned and let to them by The Langdon Foundation and extern31 third parties. The Langdon Foundation has the right to appoint and remove trustees ol Langdon College, Langdon Housing and Langdon Comrnuniry.
ANGDON HOUSING I COMPANY LIMITED BY GUARANTEE) IUSTEES. ANNUAL REPORT )R THE YEAR ENDED 31 DECEMBER 2022 isk management sks are identified and assessed at an operational, project and corporace level, against the agreed aims and objectyves of .e Chariiy. We have identified 2 significant risks that face the Charity. The maintenance of financial st3bility is at risk as ie Charity's income is entirely in the form ol housing benefit which is being squeezed by currenc government policy and not always sufficient to meet the cost5 charged by third-party landlords. Langdon Housing seeks to agree top up Jntributions with rnembers to bridge this gap. We regularly review our cash position and forecasi. We have a robust l Lidgeting process and a regular re-forecasting cycle. There is a rislc that our governance and strategy is Incorrect and I,iay not improve the lives of people wilh learning disabilities. We will be reglarlY reviewing our governance scructures Iiid performance. We have proces*es in place to lead stracegic change and we are developing our ability to measure the iinp2Ct we make. Market conditioas are likely to affect rents charged by third party landlords and rents charged will be i-eviewed accordingly. Public benefit The TrusTres have complied with Iheir duty in Section 17 of the Charities Act 201 I to have due regard to the guldance published by che Charity Commission. The benefit to the public is manifestly demonstrated by the achievements eonrained in this repor4 all ol which seeks to exiend and improve the care of young people whose life chances. aspirations and contributions to sociecy will be enhanced as a result. Disclosure of informatlon to auditors Each of the Trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have each further Confirmed that they have each taken appropriate steps co idenufy such relevant information and to establish that the auditor5 are aware of such informition. Trustees, responslbilities in relation to the financial statements The Charity's Trustees {who are also the directors of Langdon Housing for the purposes of company liwl are responsible for preparing i trustees, annual report ind financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practi} including FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" Company law requires the Charity trustees to Ppare financial st2ternents for each year which gwe a true and fair view of the state of affairs of the charitable company and of the incoming resources and applicition of resources. including the income and expenditure, of the charitable companylor that period. In preparing the financial statsments, the trustees are required to: select suitable accounting policies and then PplY them consistently., observe the methods and principles in the Charities SORP {sument of Recommended Practice).. make judgements 2nd estimates that are re350nable and prudent.. state whether anr plicable UK accounting standards have been followed. subject to any matsrial depirturés discloseLI aiid explained in the financial statements.. prepare the financial statemenis on the going concern basis unless it is inapproprfate to presume that the Charity will continue in busines5. The trustees are responsible lor keeping proper aecouniing records that disclose with reasonable accuraty at any tirne 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's constitution. They are also responsible for safeguarding the assets of the Charity and the group and henee raking reasonable steps for the prevention and de¢tIon of fraud and other irregularities. This report has been prepared in accordance with the speciil provisions of the Companies Aet 2006 relating to small companies. On behalf of the board of Trustees Mr P joseph. Trustee z 4luly 2023
LANGDON HOUSING (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF LANGDON HOUSING Independent Auditor's Report to the Member$ of Langdon Housing Opinion We have audited the financial staoments ol Langdon Housing I'the charitable company'l for che year ellded 31 Decernber 2022 which comprise the Statement of Financial Acrivities, Balance Sheec, Cash Flow Statement and ftotes to the financial statements. including significanc accounting policies. The finanoal reporting framework that h35 been applied in th*r preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Scandard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practicel- In our opinion the firrancial statement ve a true and fair view of the state of the charitable company s affairs as at 31 December 2022 and of the its income and expenditure, for the year then ended.. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice- 3nd have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with Internacional Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are furiher described in the Auditor's responsibilities for the audit of the financial statement5 section of our report. We are independent of the charitable company in accordance with the ethical requirement5 that are relevant to our audit of the financial statements in the UK. including the FRC'S Ethical Standard. and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going eontern In auditing the financial statements, we have eoncluded that the trustee's use of the going concern basis of accounting in the preparation of the financial stitements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions thac individually or collectively, may cisc significant doubt on the charitable cotnpaay's ability to continue as a going coneern for a period of at lea5c cwdve month5 frotn when the financial Statements are authorised lor issue. Our responsibilityes and the responsibilityes ol the trustses with respett to going concern are deribed in the rdeyant secrions of this reporL Other information The trustees are responslble for the other InfOrmaOn contalned wlthin the annual report. The other inlormation comprises the inforrnacion included in the annual repor4 other than the financial statements and our auditor's report thereon. Our opinion on the financial statements does not cover the other information and. except ¢0 the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and. in doing so, consider whether the other information 15 materially incon5iStent with the financial statements or our knowledge obtained in the audit or otherwise appear5 to be materi311y misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information. we are required to report that frdct. We have nothing to report in this regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion based on the work undertaken in the course of our audit the information given in the trustees. reporL which includes the direccors, repori prepared for the purposes of comwany law, lor the financial year for which the financial statement5 are prepared is con515tent with the financial statements,. and the directors, report included within thè trustées, report havè beèn prepared in accordance wth applicable legal requireménts.
LANGDON HOUSING (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITORS, REPOKT TO THE MEMBERS OF LANGDON HOUSING Matters on which we are required to report by exception In light of the knowledge and understanding ol the charitable company and irs environment obtained in the course of the audit, we have not identified material mi5Statements in the directors. report included wi¢hin the tru5tees' 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.. adequate and proper accountillg records have not been kept,. or the financial statements are not in agreement with the accounting records and returns,. or cert3in disd05ures of trustees, remuneration specified by law are not made: or we have not received all the information and explanations we require for our audit., or the trustees were not entitled to prep3re the financial statements in accordance with the small companies reglme and take advantage of the small tompanies, exemptions in preparing the trustees. directors, report and from the requirement to prep3re a stratsgic report. Responsibilities of trustee5 As explained more fully in the trustees, responsibilities statement set out on page 4. the trustees (who are also the director5 01 the chariiable company for the purposes of company lawl are responsible for the preparation of the financial statements and for being satisfied that theygive a true and fairview. and for suth internal control a5 the trustee5 determine is necessary co enable the preparation of financial statements that are free from miterial misst2tement, whether due to fraud or error. In preparing the financial 5r2Trments, the trustees are SponSible for assessing the charitable company s ability to continue a5 a going concern. disclosin& as applicable, matter5 related to going concem and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to tease operdtions, or have no realistic alternative but to do so. Auditorfs respons5bilities for the audlt of the financial 5taeements Our objectives are to obt3in reasonable assurance about wheiher the financial staments as a whole are free from material misstatemenL whether due to fraud or error. and to issue an auditor's report thac includes our opinion. Reasonable assurance 15 a high level of assurance. but is not a guarantee that an audit conducted irb accordance wlth ISAS IUKI will alway5 detect a material misstatement when ic exists. Misstatements can arise from fraud or error and are considered material if. individually or in the aggregate, they could reasonably be expected to influence the economic decisions ol users taken on the basis of these financial statements. Details of the excent to which the audit was considered capable of de¢ectin8 irregularitie> including Iraud and non- tomplianee with laws and regulations are set out below. A further description of our re5poThsibilities for the audit ol the financi Statements is loeated on the Financial Reportyng Council's websice at.. www.frc.or .ukJ ditorsr This description forms part ol our auditor's report. Extent to which the audit wa5 considered capable of deterting irregularitles. including fraud Irregularities, including fraud. are instances of non-compliance with laws and regulations. We identified and assessed the risks of material misstatemeni ol the financial sutements from irregularities, whether due to fraud or error, and discussed these between our audit team members. We then designed and performed audit procedures responsive to those risks. including obtaining audit evidence sufficient and appropriate to provide a basis lor our ownion. We obtained an understanding of the legal and regulatory frameworks within which the charirable company operates. focusin8 on those laws and regulation5 that have a direct effect on the derMinatIon of material amounts and disc105ures in the financial statements. The laws ind regulations we considered in this context were the Companies Act 2006, the Charitie5 Act 201 I together with the Charities SORP IFRS 1021. We assessed the required compliance with these laws and regu13tions as part of our audit procedures oll the related financi21 stIrnent item
LANGDON HOUSING (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF LANGDON HOUSING In addition. we considered provisions of other laws and regulation5 that do not have a direct effect on the financial statements but Compliance with which might be fundamental to the charitable company's ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that rnay exist within the charitable company for fraud. The laws and regulations we considered in this context for the UK operation5 were General Data Protection Regulation IGDPRI, ernployment legislauon. tax legislation. and health and salety legislation. Auditing standards lirnit the required audit procedures to identify non-compliance with these law5 and regulatyons to enquiry of the Trustees and other management and inspection ol regulatory and legal eorrespondence, if any. We identified the greatest risk of materi21 impact on the financial Statements from irregularitles, Including fraud. to be within income recognition, and the override of controls by management. Our audit procedures to respond to chese risks included enquiries of management about their own idencification and assessmenc of the risk5 of irregularities. sample testing on the posting of journ21s, reviewing accounciNg e5timites for biases. reviewing regulitory correspondence with the ChariLy Commission. and reading minutes of tneetings of those charged with governance. Owing to the inherent limitaiions of an audit, there is an unavoldable risk thit we May not have detected some material misstatements in che financial statements. even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations lirregularitiesl is Irom the events and transactions refietted in the financi statements, the less likely the inherently limited procedure5 required by auditing standards would identify It. In additioll, as with any audit. there remained a higher risk of non- detection of irregu12rities, as these may involve collusion, forgery. intentional omissions. misrepresentation5. or the override of internal controls. We are not responsible for prevencing non-cornpliance and cannot be expected to detec¢ non-compliance with all laws and regulations. Use of our report This report is made solely to the charicable company's mernbers, as a body. in accordance with Chapter 3 of Part 16 01 the Companies Act 2006. Our avdit work has been undertalcen so that we might state to the charitable company's members those Matters we are required to state to them in an auditor's report and lor fio other purpose. To the fullest extent permitted by law. we do not accept or assume responsibility to anyone other than the charitable totnpany and the charitable company'5 members as 3 body, for our audit work, for this repori or for Ihe opinions we have formed. Tim Redwood Senior Statutory Auditor For and on behalf of Crowe U.K. LLP Statutory Auditor London 27 July 2023
LANGDON HOUSING (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022 Note Unrestrirted Restricted funds funds Total funds 2022 Total funds 2021 Income from: Donations 464 Charitable activitie5 ,761,212 1,761,212 1.640.129 Total income ,761 212 1.761,212 1,640,593 xpenditurè on: Charitable activities= Provision of housing and living arrangements 1,746,651 1,746,651 1.566,679 Total expenditure 1.746,651 1746.651 1,566,679 Net incomel{expènditure) 14.561 14,561 73,914 Transfers between funds Net movement in funds 14.561 14.561 73.914 Reconciliation of funds: Total fuThds brought forward 231.823 231 823 157,909 Total funds carried forniard 246.384 246 384 231,823 The statement of financial accivities includes all gains and losses recogni5ed in che year. All income and expenditure derives from continuing activities. The statement of financial actiMties also complies with the requirements for an income and expenditure account under the Companies Act 2006.
LANGDON HOUSING (A COMPANY LIMITED BY GUARANTEE) BALANCE SHEET AS AT 31 DECEMBER 2022 Company regstration number.. 07623246 (England and Wales) Notè 2022 2021 Fixed As$et5 13 19,850 21.137 Current assets: Debtors Cash ac bank and in hat)d 14 263,884 95.391 222,939 151,021 Total Current assets 359,275 373.960 Liabilitie$: Creditors.. Amounts falling due within one year Net current assets 132.741 163.274 226,534 210,686 Total net assets 246,384 231.823 The funds of the Charity: Restricted funds Unrestricted funds 16 246,384 231,823 Total funds 246.384 231,823 The financial stscement5 have been prepared in accordance with the special provisions of the Companie5 Act relating to small companie5. The notes at pages I I to 18 form part of these accounts. 47yL Mr P joseph Trustee Approved by the trustees and authorised for issue on= LG July 2023
LANGDON HOUSING (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2022 Note 2022 2021 Cash flow5 from operatlng activities: Net cash (used in) operating activitFes 19 135,572 Cash flows from investing activitie5: Purchase oFtangible ffixed assets {6.310) 119,0451 Net cash (used in) investing activities {6,310) 119,0451 Change in cash and cash equivalents in the reporting period 55.630 154.617 Cash and cash equivalents at the beginning of the reportin8 period 151.021 305,638 Cash and cash equivalents at the end of the reporting period
LANGDON HOUSING (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022 Accounting Policies The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial stacements are is follows: l. l Basi5 of preparation The financial statements have been prepared in accordance with Accounting and Reporting 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 IFRS 1021 {elfective l January 2015) - (Charities SORP {FRS 102)}. the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. The Charity meecs the definition ol a public benefit entiry under FRS 102. Assets and liabilitie5 are initially recognised at historical cost or transaction value unless Otherwise stated in the relevant accounting policy. 1.2 Preparatlon of the accounts on a going concern basis The account5 have been prepared on a going concern b251S 3nd the trustees believe there to be no material uncertainties about che Charity's ability to continue as a going concern. If nece5saryJ Langdon Foundation will provide support and a letter ol support covering the period co 31" july 2024 is provided by The Langdon Foundation. More information in respect of fattors alfecting income and expenditure are set out in the Financial Review on page 2 and 1.3 Income Income is recognised when the Charity ha5 entidement tts the funds, any performance conditions attached to the itemls) of income have been met. it is probable that the income will be received and the amount can be measured reliably. Income from government or other grants, whether "capital" grants or "revenue" grant$ is reeognised when the Charity ha5 entitlement to rhe funds. any perfomiance conditions attached to the grants have been met. it is probable that the Income will be received and the amoun¢ can be Meured rellaY and is noc deferred. Rental and other income connected to the provision of accommodation to beneficiaries is recognised in the year in which accommodation is provided. 1.4 Expenditure Expenditure is recognised on an accruals basis once the Charicy has a legal'6r constructive obligation to make payment. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relatss. Charitable expendlture comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. Governance cost5 include those coscs assoCiad with meeting the constitutional and statutory requiremeTrt5 of the Charity and include the audit fees and costs linked to the stratwc management of the charity. All costs ire allocated to the one charitable aeclviiy.
LANGDON HOUSING (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022 Accounting Policlès (Continued) 1.5 Tangible fixed assets and depreciation Tangible fixed asse¢5 are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the c05t less estimated residual value of each asset over its expected useful lrfe, as follows.. Motor vehicles 25% straight line The policy with respect to imp2irment reviews of fixed assets is that these 3ssets are inspetted regularly for any impairment and any delec¢ remedied so as to maintain the current valve. 1.6 Debtor$ Trade and other debtors are recognised at the setclementamount due after any trade discount offered and provision for bad and doubtful debts. Prepayments are valued at the amount prepaid net of any trade discounts due. 1.7 Cash at bank and in hand Cash at bank 3nd cash in hand includes cash and short term highly liquid inve5tment5 with a short maturity of three months or less from the date of acqui5i¢i0n or openiftg of the deposi¢ or similar account. 1.8 Creditors and provisions Creditors and provisions are recognised where the Charity has a present obligation resulting from a past event that wlll probably result in the iransfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount alr allowing for any tr2de discounts due. 1.9 Financial instrumènts The Charlty only has financial assets and liabilityes of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequendy measured at their setdement value. l. l O Pensions For defined-contributioth schemes, the amount charged to the SOFA in respect of pension costs and other post- retiremen¢ benefit5 IS the Contributions payable in the period. Any difference between the charge to the SOFA and the eontributions payable to che scheme is shown an asset or a liabili¢y in the balance 5h&c. l. I l Operating leasts Rentals payable under operating lease5 are chargèd agalnst Income on a straight line basls over the period of the lets. 1.12 Fund accounting Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectyve5 of the charity. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the chariw for particular purposes. The aim and use of each restric¢ed funds is sec out in the notes to the financial statement5. 12-
LANGDON HOUSING (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOK THE YEAR ENDED 31 DECEMBER 2022 2 Legal statu$ of the Charity The Charity does not have share capital and is limited by guarantee. In the event of the Charitable Company bng wound up. the maximum amount which each member is liable to Contribute is £10. Income from donation5 2022 2021 Property Maintenance Fund 464 464 Income from charitable activities 2022 2021 Provision of housing and living arrangements Housing benefit and other rent receivable Recharged expenses to re5ident5 1.595.383 165.829 1,518,401 121,728 1,761,212 1,640.129 Income from tharitsble activities was all unrestritted funds. Analysis of expenditure 2022 2021 Provision of housing and living arrangements Staff costs Rent Repairs ind maintenance Expenses recharged to residents Other direct cost5 Depreciation Governance cost5 (see note 61 143.894 ,101,074 184,209 188,852 114.195 7.597 6.830 174é 651 138.734 1.058,259 147,525 133,381 75.580 5.570 7,630 I,S66,679 Expenditure on charitable activities was unrestricted. In 2021.. £1,565,535 was unrestrieted and £1,144 was restricted.
LANGDON HOUSING (A COMPANY LIMITI'.D B Y GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022 Analysis of governance costs The Charity initially identifies the costs of its support functions. It then identifies those costs which relao to the governance function. Having identified its governance costs, Ihe remaining support costs together with the governance costs are all allocated against the one charitable activiw. Some support costs. finance and human resources, are tnanaged and funded directly by The Langdon Foundation. 2022 2021 Other governance costs comprise-. Auditorfs remuneration Other c05t5 5,600 1,230 6.420 1,210 6,830 7.630 Net expenditure for the year This is stated after charging: 2022 2021 Depreciation Auditor's remuneration Operaiing lease rentils 7,597 5,600 1,101,074 5,570 6,420 1,058,260 Analy51$ of staff costs. trustee remuneration and expenses, and the cost of key management personnel 2022 2021 Wages and salaries Social security costs Pension 128.658 12,405 124.680 11,449 2,605 143,894 138,734 No employees had employee benefits in excess of £60.000. The key management personnel of the Charity comprise che senior management team as detailed on page l of thè twstees, report. As explained in the Trustee's ReFX)rt. the remuneration of some management personnel is through Langdon Foundation. During the year no termination payments were pald12021: £9,800). None of the Trustees {or any persons connected with them) recelved any remuneration during the year and none of them were reimbursed for expense5 during the year. 14.
LANGDON HOUSING (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022 Staff Number5 The average monthly head count ol employees during the year was as follows.. 2022 Number 2021 Number Provision of houstng and Ilving arrangements Total l O Pension and other post-retirement benefit commitments The Charity contributes towards the Langdon Group Scheme run by Nest which 15 a defined contribution scheme. The assets of the scheme are held separately from those of the Charity in an independently adrninistered lund. The pension cost charge represents contributions payable by the charity to the fund. 2022 2021 Contributions piyable by the company for the year 2.860 2.605 The expense has been allocated to unrestricted expenditure on the same basis as wages and salarie I l Related party transactions The Charity is connected to The Langdon Foundation (restered charity number= 1142742, registered company number.. 76217141, Langdon Community (registered charity number.. 1086393, registered company number.. 40553381 and Langdon College Iregiscered charity Thumber.. 1088936, registered company nurnber.. 41044661. all of which are incorporaced charitable companbes registered in England and Wales thit do not have share capital and are limited by guarane. At the year end, the charitable company had a credi¢or of £56,83512021.. £99,005} due to The Langdon Foundation. During the year, Langdon Housing was charged building lease renta15 of £339,686 (2021: £325,296) from The Langdon Foundatyon and the b31ance at 31, December 2022 relates to these rental5. At the year end, the charitable company hid debtors of £31,10712021.. £nill dve from Langdon Community and £150 {2021..£Nill due from Langdon Cdlege. The ultimate controlling party of Langdon Housing is The Langdon Foundation, a charitable company (ch2rity number 1142742, company nurnber 76217141 in whose account5 the result5 have been consolidated. The Langdon Foundation is the sole member of Langdon Housing. The Langdon Foundation owns properties, raises funds and gives donations to Langdon Colleg4 Langdon Community and Langdon Housin& Con5011dat accounts for the Langdon Foundation tan be obtained from the 5affle re&'stered office as the charity. 12 Corporation tax As a charity, Langdon Housing is exempt from UK t3x on income and gains to the extent that these 2re applied to its charitable objects. No UK tax charges have arisen in the Charity, during the year or the previous year. 15-
LANGDON HOUSING (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022 16 Analysis of charitable fund$ Analysi5 of movements in restricted funds- prior year Balance as at I january 2021 Incoming resources Resources Translers expended between funds Funds as at 31 December 2021 Property maintenance fund 464 680 17 Analysis of net assets between funds Unrestricted Restricted fund$ funds Total Fund bJlarhces at 31 December 2022 are represented by- Tangible Fixed Assets Current assets Creditors of less than one year 19.850 359.275 {132.741} 19,850 359.275 (132.741) 246,384 246.384 Analysi$ of net assets between fund$- prior year Unrestricted Restricted funds funds Total Fund balances at 31 December 2021 are represented by.. Tangible Fixed Assets Current assecs Creditors of less rhan one year 21,137 373,960 1163,2741 21.137 373,960 {163.2741 231,823 231,823
LANGDON HOUSING (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022 13 Tangible fixed assets Fixtures, fittings Motor vehlclès & equlpment Total Costr. As at I january 2022 Additions 18.707 6.310 25.024 43,731 6,310 A5 at 31 December 2022 25,017 25.024 50.041 Depreciation: A5 2t l January 2022 Charge for year 13,044 2,836 9.550 4,761 22.594 7,597 A5 at 31 December 2022 15,880 14,311 30.191 Net book value A$ 31 December 2022 9,137 10,713 19,850 As 31 December 2021 5,663 15.474 21.137 14 Dèbtors 2022 2021 Trade debtors Other debtors Prepayments and accrued income Amounts owed by group under¢akings 147.559 34.669 50,339 31,317 178.167 23,966 15,999 263.884 222,939 15 Creditors". amounts falling due within one year 2022 2021 Trade creditors Amounts owed to group undertakings Taxation and social security costs Other creditors Accruals and deferred income 56,570 56,835 2,758 12.833 3,745 43,216 99,005 2,433 16,308 2.312 132,741 163.274 16.
LANGDON HOUSING (A COfvIPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022 18 Commitments under operatin8 leases Land and Buildings The future minimum payments under non-cancellable operating leases are.. 2022 2021 Expiry date= No latsr than one year Later than one year and no later than five years 304.237 121,430 293.686 123.523 425,667 417.209 19 Reconciliation of net movèmènt in funds to net cash flow from operating activities 2022 2021 Net Movent in lunds Add back depreciation charge Ilncreasel in debtors (Decrease) in creditors 14.561 7.597 {40.945} {30,533) 73,914 5.570 {75,3221 {139,7341 Net cash (used in) operating activitie5 49,320 135,572 20 Post Balance Sheet Event In 2022. Langdon announced that Langdon and Kish3ron la charity offering similar services to Langdon) were considering a proposed merger. Consultations and Due Diligence have taken place and the Langdon Foundation Board re501Yed in July 2023 that the merger should be effective in 2023.