LANGLEY HOUSE TRUST
HELPINCJ PEOPI.E10 LRIME-FREE LIVI.S
ANNUAL REPORT
AND CONSOLIDATED
FINANCIAL STATEMENTS
FoTthe 12 Iri"onths én(led 31st Marth w23'::
Company No. 07888191
www.langleyhousetrust.org
Charity No. 1146304
##
##
##
##
##
##
##
##
##
##
|Chair's Review|||4|
|---|---|---|---|
|Strategic Report|||6|
|Our Partners
Ig Funders|||15|
|Financial
Review|||16|
|Board's Responsibility|Statement||24|
|Trustees' Report|||25|
|Statistics|||32|
|Independent
Auditors'|Report|to the Members ofLangley House Trust|33|
|Statement ofComprehensive||Income|36|
|Statement ofFinancial|Position||37|
|Statement ofChanges|in Reserves||38|
|Cash Flow Statement|||39|
|Notes tothe Financial|Statements||40|
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
||||Group|LHT|Group|LHT|
|---|---|---|---|---|---|---|
|Turnover||Notes|2023
8000|2023
8000|2022
8000|2022
6000|
||||18,523|18,274|16,320|16,084|
|Cost ofsales|||||||
|Gross profit|||18,523|18,274|16,320|16,064|
|Operating
expenditure|||(19,046)|(18,670)|(16,298)|(16,119)|
|Operating
surplus|||(523)|(396)|22|(35)|
|Movement
in fair value|of investments|15|(40)|(40)||66|
|Loss on disposal ofOxed assets||7|(7)|(7)|||
|Interest receivable and other income||8|60|60||29|
|Surplus
before tax|||(510)|(383)|117|60|
|Taxation|||||||
|Surplus/(Deficit)
for the year after
tax|||(510)|(383)|117|60|
|Total comprehensive|income for the||||||
|year|||||||
##
|||Gmup|LNT|Group|LH7|
|---|---|---|---|---|---|
||Note|2023|2023|2022|2022|
|||6900|6000|OOOO|5000|
|FIXEDASSETS||||||
|Housing
properties|13|7,984|7.984|6,361|6,361|
|Other fixed assets|14|253|253|306|306|
|Investments|15|963|983|.003|DD|
|Total fixed assets||9,200|9,200|7,$70|7,670|
|CURRENT ASSETS||||||
|Debtors|16|1,808|1,908|1,726|1,725|
|Cash in hand and at||||||
|bank||37D2|3298|5721|531D|
|Total current assets||5,510|5,206|7~7|7.035|
|Less Creditors:||||||
|amounts
failing due
within one year
Net current assets|17~907
2,603||~2855
2,350|~2722
4.725|~2690
4.345|
|Total assets less||||||
|current liabilities||11,803|11,550|12,395|12.015|
|Creditors: amounts||||||
|falling due after mom||||||
|than one year|18|(2,760)|(2,760)|(2,842)|(2,842)|
|Total net assets||98 3|8793|~|9173|
|Reserves||||||
|Restricted reserves||8|8|5|5|
|Revenue reserves||9035|782|0558||
|Total capital 6||||||
|reserves||S857|3732|9553|9173|
##
|GROUP||||||
|---|---|---|---|---|---|
||||Income and|||
||||expenditure|Restricted||
||||reserve|reserves|Total|
||||6000|5000|8000|
|Balance as at|31 March|2021|9,421|15|$,436|
|Surplus for ths|year||117||117|
|Transfers from|restricted|reserves|10|(10)||
|Balance as at|31 March 2022||9,548|5|9,553|
|Surplus/(Deficit)|for the year||(51D)||(510)|
|Transfers from/(to) restricted reserves|||(3)|||
|Balance as at|31 March 2023||aaaa|8|araa|
|LHT|||||||
|---|---|---|---|---|---|---|
|||||Income and|||
|||||expenditure|Restricted||
|||||reserve|reserves|Total|
|||||5000|8000|8000|
|Balance|as at 31 March 2021|||a,oae|15|9,113|
|Surplus forthe||year||6D||60|
|Transfers|from|restricted reserves||10|(10)||
|Balance|as at|31Mamh 2022||9,158|5|$,173|
|Surplus/(Deficit)||for|the year|(383)||(383)|
|Transfers|from/(to)||restricted reserves|(3)|||
|Balance|as at|31March 2023||8282||8,7$0|
##
|GROUP||Note|2023|2022|
|---|---|---|---|---|
||||6000|fOOO|
|Net cash from operating
activities||||298|
|Cash flow from investing
activities
Purchase ofhousing
properties
Purchase ofother fixed assets|||(1,993)
~89|(547)
~95|
||||(2,080)|(344)|
|Cash flow from financing
activities|||||
|Interest received||||29|
|Net change
in cash equivalent|||(2,019)|(315)|
|Cash and cash equivalents
at|beginning|ofthe year|5,721|6,036|
|Cash and cash equivalents
at the end of||the year|3,702|5,721|
||||2023|2022|
|Note i - reconciliation
ofnet cash flow from|||f000|fOOO|
|operating
activities|||||
|(Loss)/Surplus
for the year|||(523)|117|
|Depreciation
oftangible fixed assets|||504|486|
|Amortisation
ofGrants|||(82)|(83)|
|Loss/(Profit) on disposal ofasset||||3|
|Other non cash changes||||(66)|
|Interest received||||(29)|
|(Decrease)/Increase
in provisions||||(36)|
|(Increase)/Decrease
in debtors|||(180)|(230)|
|Increase
in creditors|||284|136|
|Net cash inflow from operating|activities||2|298|
##
##
##
##
##
##
##
##
##
|properties
(excluding
land):|||
|---|---|---|
||Useful economic life|Depreciation|
|||rate|
|Pitched roofs|50years|2'/o|
|Flat roofs|20years|5%|
|Windows and external doors|25years|4'/o|
|Heating|20 years|5%|
|Electrical|25years|4%|
|Bathrooms|25years|4%|
|Kitchens|20years||
|Lifts|10years|10%|
|Structure|50years|2%|
|Plant and equipment|5years|20%|
|Computers|4years|25%|
|Motor vehicles|4years|25%|
##
##
##
##
##
##
##
||||||||2023||
|---|---|---|---|---|---|---|---|---|
|GROUP|||||Turnover|Operating|Gain/(loss)|Operating|
|||||||costs|on disposal|Surplus/|
||||||||of property,|(deficit)|
||||||||plant and||
||||||||equipment||
||||||5000|6000|6000|6000|
|Social Housing
Lettings(Note||||5)|5,347|5,749||(402)|
|Other social|housing||activities||||||
|Supporting|People||||349|355||(6)|
|Activities other than||social Housing|||||||
|Care|||||8,176|8,491||(315)|
|Ministry of|Justice||||2,603|2,423||180|
|Other government||contracts|||1,340|1,475||(135)|
|Voluntary|Income||||353|114||239|
|Prison Services|||||162|140||22|
|Other|||||158|268||(110)|
|Income for generating|||funds||35|31||4|
|Gain on disposal of||property,||plant|||||
|and equipment|||||||||
||||||18,523|19,046||523|
||||||||2023||
|LHT|||||Turnover|Operating|Gain/(loss)|Operating|
|||||||costs|on disposal|Surplus/|
||||||||of property,|(deficit)|
||||||||plant and||
||||||||equipment||
||||||6000|6000|8000|f000|
|Social Housing
Lettlngs(Note||||5)|5,347|5,749||(402)|
|Other social|housing||activities||||||
|Supporting|People||||349|354||(5)|
|Activities other than||social Housing|||||||
|Care|||||8,176|8,491||(315)|
|Ministry of|Justice||||2,603|2,423||180|
|Other government||contracts|||1,340|1,475||(135)|
|Voluntary|Income||||295|114||181|
|Other|||||129|32||97|
|Income for generating|||funds||35|32||3|
|Gain on disposal of||property,||plant|||||
|and equipment|||||||||
||||||18,274|18,670||396|
##
||||||||2022||
|---|---|---|---|---|---|---|---|---|
|GROUP|||||Turnover|Operating|Gain/(loss|Operating|
|||||||ccats|) on
disposal of|Surplus/
(deficit)|
||||||||property,||
||||||||plant snd||
||||||||equipment||
||||||f000|f000|f000|f000|
|Social Housing
Lettings(Note||||5)|5,072|5,395||(323)|
|Other social|housing||activities||||||
|Supporting|People||||519|517|||
|Activities other than||social Housing|||||||
|Care|||||7,482|7,365||117|
|Ministry of|Justice||||1,585|1,467||118|
|Other government||contracts|||1,083|966||117|
|Voluntary|Income||||135|152||(17)|
|Prison Services|||||188|135||53|
|Other|||||219|277||(58)|
|Income for generating|||funds||37|24||13|
|Gain/(loss)
on disposal ofproperty,|||||||||
|plant and equipment|||||||||
||||||16,326|16,298||22|
||||||||2022||
|LHT|||||Turnover|Operating|Gain/(loss|Operating|
|||||||costs|) on
disposei of|Surplus/
(deficit)|
||||||||property,||
||||||||plant and||
||||||||equipment||
||||||f000|f000|f000|f000|
|Social Housing
Lettings(Note||||5)|5,072|5,395||(323)|
|Other social|housing||activities||||||
|Supporting|People||||519|517|||
|Activities other than||social Housing|||||||
|Cars|||||7,482|7,365||117|
|Ministry of|Justice||||1,585|1,467||118|
|Other government||contracts|||1,083|966||117|
|Voluntary|Income||||111|152||(41)|
|Other|||||195|233||(38)|
|Income for generating|||funds||37|24||13|
|Gain/(loss)
on disposal ofproperty,|||||||||
|plant and equipment|||||||||
||||||16084|16,119||35|
##
##
||||Social Housing|Social Housing|Other Social|Other Social||
|---|---|---|---|---|---|---|---|
||||Lettin|s|Housin|||
||||||||Total|
||||Supported|Care|Registered|General||
||||Housin|Homes|Care Beds|Needs||
|Social Housing||||||||
|At 31 March 2023|||381||116||497|
|At 3f March 2022|||390||90||480|
|||||2023|2022|||
|Non-social|Housing|||||||
|Under management||at start of||||||
|year||||||||
|Under management||at end of||||||
|year||||||||
##
##
|||||Supported|Care|||
|---|---|---|---|---|---|---|---|
|GROUP AND LHT||||housing|Homes|TOTAL|TOTAL|
|||||2023|2023|2023|2022|
|||||6000|6000|6000|f000|
|INCOME||||||||
|Rents receivable||||2,563|70|2,633|2,578|
|Service income||||2,574|58|2,632|2,412|
|Amortised
government|grants|||65|17|82|82|
|Turnover
from Social|Housing|Lettings||5,202|145|5,347|5,072|
|EXPENDITURE||||||||
|Management||||2,307|83|2,390|2,372|
|Services||||2,461|32|2,493|2,195|
|Routine maintenance||||361|18|379|404|
|Planned
maintenance||||41|6|47|43|
|Bad debts||||232|(4)|228|186|
|Depreciation
of Housing|Properges|||204|8|212|195|
|Operating costs on Social Housing
Lettings||||5,606|143|5.749|5,395|
|OPERATING (DEFICIT)/SURPLUS|||ON|||||
|SOCIAL HOUSING LETTINGS||||(404)|2|(402)|(323)|
|ACTIVITIES||||||||
|Void losses||||806|47|853|1,140|
##
##
||||Group|LHT|Group|LHT|
|---|---|---|---|---|---|---|
|Is stated after charging/(crediting):|||2023|2023|2022|2022|
||||f000|f000|f000|5000|
|Depreciation
of housing|properties||363|363|330|330|
|Depreciation
ofother tangible
fixed|||||||
|assets|||142|142|156|156|
|Operating
lease rentals:|||||||
|Land and buildings|||493|493|477|477|
|Office equipment|||5|5|4|4|
|Auditors
remuneration
(excluding||VAT)|||||
|In their capacity as|external|auditors|21|16|19|15|
||Otherfees||||12|12|
|Loss on sale ofother fixed assets|||(7)|(7)|||
##
|||Group|LHT|Group|LHT|
|---|---|---|---|---|---|
|||2023|2023|2022|2022|
|||f000|f000|f000|f000|
|Proceeds|ofsales|||5|5|
|Carrying|value offixed assets disposed|||||
|ofduring|the year|||||
|(LOSS)/SURPLUS ON DISPOSAL|||7|5||
##
##
|||Group|LHT|Group|LHT|
|---|---|---|---|---|---|
|||2023|2023|2022|2022|
|||6000|f000|F000|EOOO|
|Dividends|received on investments|30|30|27|27|
|Bank interest||30|30|2|2|
|TOTAL||60||29|29|
##
|||Group|LHT|Group|LHT|
|---|---|---|---|---|---|
|||2023|2023|2022|2022|
|The average|number ofstaff employed|||||
|during the year, expressed as full time||||||
|equivalents,|(i.e.35hours per week) was:|302|289|292|281|
|||Group|LHT|Group|LHT|
|Staffcosts||2023|2023|2022|2022|
|||f000|OOOO|6000|F000|
|Wages and|salaries|8,346|8,056|7,041|6,767|
|Social security costs||796|774|644|624|
|Other pension costs||348|335|312|300|
|Other Employee
benefits||5|5|83|83|
|TOTAL||9,495|9,170|8,080|7,774|
|he number ofstaff whose emoluments
as asfollows:|plus taxable benefits amou|nted
to over f|60,000during t|he year|
|---|---|---|---|---|
||Group|LHT|Group|LHT|
||2023|2023|2022|2022|
|860,000 - 270,000|||3|3|
|670,000 - 680,000|||1|1|
|680,000 - 290,000|||1|1|
|F110,000 - F120,000|||1|1|
##
##
##
||Group|LHT|Group|LHT|
|---|---|---|---|---|
||2023|2023|2022|2022|
||8000|8000|r000|8000|
|The aggregate
emoluments
paid to or|||||
|receivable
by non-executive
Directors|||||
|and former non-executive
directors|||||
|The aggregate
emoluments
paid to senior
officers, including
salary, employer's|480|480|387|387|
|pension
contributions
and benefits-in-kind|||||
|The emoluments
paid to highest
paid|||||
|olticer (Chief Executive), including|117|117|112|112|
|benefits-in-kind
but excluding
employer's|||||
|pension
contributions|||||
##
##
##
##
|GROUP AND LHT||||
|---|---|---|---|
|||Under||
||Completed|Construction|Total|
||6000|6000|6000|
|COSTIVALUATION||||
|At 1 April 2022|10,610||10,610|
|Additions|1,955|38|1,993|
|Transfers||||
|Disposals|20||20|
|At 31 March 2023|12545|38|12,583|
|DEPRECIATION||||
|At 1 April 2022|4,240||4,249|
|Charge foryear|363||363|
|Eliminated
on Disposals|13||13|
|At 31 March 2023|4,599||4,599|
|NET BOOK VALUE at 31 MARCH||||
|2023|7,946|38|7984|
|NET BOOK VALUE at 1 April 2022|6,361||6,361|
|Housing
properties
comprise:||||
|||2023|2022|
|||6000|f000|
|Freeholds||7,572|5,968|
|Long Leaseholds||16|16|
|Short Leaseholds||358|377|
|Assets under construction||38||
|||7984|6361|
##
##
##
||||||||Motor|||
|---|---|---|---|---|---|---|---|---|---|
|||||||Plant 8 erluiP|vehicles||Total|
|||||||8000|6000||6000|
|COST/VALUATION||||||||||
|At 1 April||||||763|278||1,041|
|Additions||||||59|30||89|
|Disposals||||||||||
|At 31 March||||||822|308||1,130|
|DEPRECIATION||||||||||
|At 1 April||||||529|206||735|
|Charge for year||||||102|40||142|
|Disposals||||||||||
|At 31 March||||||631|246||877|
|NET BOOK|VALUE at 31 March 2023|||||191|62||253|
|NET BOOK|VALUE at 1 April|||2022||234|72||306|
|15 FIXEDASSET INVESTMENT||||||||||
|LHT &Group|||||||2023|2022f||
|Market value||of investments||at|start of|||||
|year|||||||1,003|937||
|Market value||of investment|sold||during|||||
|the year||||||||||
|Market value||of investments|||at end|||||
|ofyear|||||||963|1,003||
|(Loss)/Gain|in value during||the year||||40|66||
|(Loss)/Gain||recognised||in|the|||||
|Statement ofComprehensive||||Income|||40|66||
||||||||40|66||
|Historic Cost of Investments|||||||599|599||
|All investments||are either unit trusts or fixed term investments||||with UK banks.||||
##
##
|||Group|LHT|Group|LHT|
|---|---|---|---|---|---|
|||2023|2023|2022|2022|
|||6000|6000|fOOO|fOOO|
|Amounts
falling due within one||||||
|year:||||||
|Rent arrears||1,186|1,186|898|898|
|Less: provision|for bad debts|(987)|(987)|(709)|(709)|
|Non rental arrears||1,274|1,274|1,175|1,175|
|Less: provision|for bad debts|(145)|(145)|(177)|(177)|
|Prepayments|and accrued income|480|480|539|538|
|Intercompany|balance||100|||
|||1808|1,908|1,726|1,725|
##
##
|||||Group|LHT|Group|LHT|
|---|---|---|---|---|---|---|---|
|||||2023|2023|2022|2022|
|||||6000|6000|fOOO|fOOO|
|Rent credit balances||||239|239|278|278|
|Non rental credit balances||||613|613|547|547|
|Trade creditors||||217|217|232|232|
|Taxation, social security and||pension|payable|276|260|238|223|
|Accruals and deferred|income|||1,478|1,443|1,343|1,326|
|SP contract income received||in advance||||1|1|
|Deferred Capital Grant|(note|18b)||84||83|83|
|||||2907|2856|2722|2690|
##
##
||||||Group|LHT|Group|LHT|
|---|---|---|---|---|---|---|---|---|
||||||2023|2023|2022|2022|
||||||8000|6000|fOOO|f000|
|Deferred|Capital|Grant|(note|18b)|2,760|2,760|2,842|2,842|
||||||2760|2760|2 842|2842|
##
##
|||Group|LHT|Group|LHT|
|---|---|---|---|---|---|
|||2023|2023|2022|2022|
|||6000|6000|6000|6000|
|At the start ofthe year||2,927|2,927|3,008|3,008|
|Grant received during the year||||||
|Released to income
in the|year|(83)|(83)|(83)|(83)|
|At the end ofthe year||2,844|2,844|2925|2925|
|Amount
due to be released|&1|||||
|year||84|84|83|83|
|Amount
due to be released|&1|||||
|year||2760|2,760|2842|2,842|
|||2844|2,844|2,925|2925|
|Total grant received||4,721|4,721|4,721|4,721|
|19 PROVISIONS FOR LIABILITIESAND CHARGES||||||
|GROUP AND LHT||||2023|2022|
|||||6000|6000|
|Opening
balance as at 1 April|||||36|
|Utilised
in the year|||||(36)|
|Additional
provision||||||
|Closing balance as at 31 March||||||
##
##
|0 CAPITAL CO|MMITMENTS||||||
|---|---|---|---|---|---|---|
||||Group|LHT|Gmup|LHT|
||||2023|2023|2022|2022|
||||OOOO|f000|f000|f000|
|Capital expenditure|that has been|contracted for but|||||
|has not been provided for in the financial statements.|||559|559|149|149|
|The commitments|as at 31 March|will be financed as|||||
|follows:|||||||
||||Group|LHT|Group|LHT|
||||2023|2023|2022|2022|
||||f000|f000|E000|f000|
|Revenue reserves|ofthe Trust||559|559|149|149|
||||559|559|149|149|
##
||Group|LHT|Group|LHT|
|---|---|---|---|---|
||2023|2023|2022|2022|
||f000|OOOO|f000|f000|
|Land and buildings:|||||
|In one year or more but less than hvo years|150|150|276|276|
|In two years or more and less than five years|371|371|372|372|
|In five years or more|54|54|131|131|
|Others, which expire:|||||
|In one year or more but less than two years||4|4||
|In two years or more and less than five years||5|9||
|In five years or more|||||
##
##
|uring th|e year|the Trus|t ha|d the following
intra~roup|transactions
with its su|bsidiaries:|
|---|---|---|---|---|---|---|
||||||2023|2022|
||||||8000|f000|
|Management||charges|from|subsidiaries|16|16|
|Funding|grant|provided|to|subsidiaries||179|
##
##
##
|4 FINANCIAL|INSTRUIt|6E|NTS||||
|---|---|---|---|---|---|---|
|a.GROUP|||||||
||||||2023|2022|
||||||6000|oooo|
|Financial Assets|Measured|at|Arnortised|Cost:|||
|Rent and Service Charge Debtors|||||199|189|
|Other Debtors|||||1,130|999|
|Cash and Cash|Equivalents||||3,702|5,721|
|Total Financial|Assets||||5,031|6,909|
|Financial
Liabilities Measured|||at Amortised||||
|Cost:|||||||
|Trade Creditors|||||217|232|
|Other Creditors|||||2,331|2,163|
|Total Financial|Liabilities||||2548|2,395|
|a. LHT|||||||
||||||2023|2022|
||||||6000|oooo|
|Financial Assets|Measured|at|Amortised|Cost:|||
|Rent and Service Charge Debtors|||||199|189|
|Other Debtors|||||1,129|998|
|Cash and Cash|Equivalents||||3,298|5,310|
|Total Financial|Assets||||4,626|6,497|
|Financial Liabilities
Measured|||at Amortised||||
|Cost:|||||||
|Trade Creditors|||||217|232|
|Other Creditors|||||2,295|2,153|
|Total Financial|Liabilities||||2,512|2,385|
##