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2021-03-31-accounts
|
Page |
| Trustees' Report |
1 to 6 |
| Statement of Trustees’ Responsibilities |
7 |
| Report of the Independent Auditors |
8 to 9 |
| Statement of Financial Activities |
10 |
| Balance Sheet |
11 |
| Cash Flow Statement |
12 |
| Notes to the Cash Flow Statement |
13 |
| Notes to the Financial Statements |
14 to 23 |
|
|
|
|
|
2021 |
2020 |
|
|
Unrestricted |
Restricted |
Endowment |
Total |
Total |
|
|
funds |
funds |
fund |
funds |
funds |
|
Notes |
£ |
£ |
£ |
£ |
£ |
| INCOME AND ENDOWMENTS |
|
|
|
|
|
|
| FROM |
|
|
|
|
|
|
| Charitable activities |
4 |
|
|
|
|
|
| Provide accommodation via |
|
|
|
|
|
|
| almshouses, sheltered housing |
|
|
|
|
|
|
| and a residential care home for |
|
|
|
|
|
|
| the residents of Derby |
|
1,945,828 |
|
|
1,945,828 |
1,982,215 |
| Provide commercial premises for |
|
|
|
|
|
|
| rent |
|
187,958 |
|
|
187,958 |
189,183 |
| Investment income |
3 |
268,185 |
|
|
268,185 |
292,655 |
| Other income |
|
65,652 |
|
|
65,652 |
7,195 |
| Total |
|
2,467,623 |
|
|
2,467,623 |
2,471,248 |
| EXPENDITURE ON |
|
|
|
|
|
|
| Charitable activities |
5 |
|
|
|
|
|
| Provide accommodation via |
|
|
|
|
|
|
| almshouses, sheltered housing |
|
|
|
|
|
|
| and a residential care home for |
|
|
|
|
|
|
| the residents of Derby |
|
1,766,924 |
|
|
1,766,924 |
1,811,672 |
| Support financial hardship of |
|
|
|
|
|
|
| residents of Derby |
|
24,504 |
|
|
24,504 |
56,068 |
| Total |
|
1,791,428 |
|
|
1,791,428 |
1,867,740 |
| Net gains/(losses) on |
|
|
|
|
|
|
| investments |
|
1,181,495 |
|
43,758 |
1,225,253 |
(2,072,834) |
| NET INCOME/(EXPENDITURE) |
|
1,857,690 |
|
43,758 |
1,901,448 |
(1,469,326) |
| RECONCILIATION OF FUNDS |
|
|
|
|
|
|
| Total funds brought forward |
|
20,643,413 |
|
192,500 |
20,835,913 |
22,305,239 |
| TOTAL FUNDS CARRIED |
|
|
|
|
|
|
| FORWARD |
|
22,501,103 |
|
236,258 |
22,737,361 |
20,835,913 |
|
|
|
|
|
2021 |
2020 |
|
|
Unrestricted |
Restricted |
Endowment |
Total |
Total |
|
|
funds |
funds |
fund |
funds |
funds |
|
Notes |
£ |
£ |
£ |
£ |
£ |
| FIXED ASSETS |
|
|
|
|
|
|
| Tangible assets |
12 |
11,237,669 |
|
|
11,237,669 |
9,946,364 |
| Investments |
|
|
|
|
|
|
| Investments |
13 |
8,690,040 |
|
236,258 |
8,926,298 |
6,827,777 |
| Investment property |
14 |
2,532,388 |
|
|
2,532,388 |
3,730,000 |
|
|
22,460,097 |
|
236,258 |
22,696,355 |
20,504,141 |
| CURRENT ASSETS |
|
|
|
|
|
|
| Stocks |
15 |
|
|
|
|
2,471 |
| Debtors: amounts falling due |
|
|
|
|
|
|
| within one year |
16 |
187,514 |
|
|
187,514 |
81,663 |
| Cash at bank and in hand |
|
165,723 |
|
|
165,723 |
400,485 |
|
|
353,237 |
|
|
353,237 |
484,619 |
| CREDITORS |
|
|
|
|
|
|
| Amounts falling due within one |
|
|
|
|
|
|
| year |
17 |
(312,231) |
|
|
(312,231) |
(152,847) |
| NET CURRENT ASSETS |
|
41,006 |
|
|
41,006 |
331,772 |
| TOTAL ASSETS LESS |
|
|
|
|
|
|
| CURRENT LIABILITIES |
|
22,501,103 |
|
236,258 |
22,737,361 |
20,835,913 |
| NET ASSETS |
|
22,501,103 |
|
236,258 |
22,737,361 |
20,835,913 |
| FUNDS |
18 |
|
|
|
|
|
| Unrestricted funds |
|
|
|
|
22,501,103 |
20,643,413 |
| Endowment funds |
|
|
|
|
236.258 |
192,500 |
| TOTAL FUNDS |
|
|
|
|
22,737,361 |
20,835,913 |
|
|
2021 |
2020 |
|
Notes |
£ |
£ |
| Cash flows from operating activities |
|
|
|
| Cash generated from operations |
1 |
589,879 |
437,418 |
| Finance costs paid |
|
(2,770) |
(2,910) |
| Net cash provided by operating activities |
|
587,109 |
434,508 |
| Cash flows from investing activities |
|
|
|
| Purchase of tangible fixed assets |
|
(199,400) |
(125,418) |
| Purchase of fixed asset investments |
|
(1,440,467) |
(1,034,988) |
| Purchase of investment property |
|
(17,388) |
(86,003) |
| Sale of fixed asset investments |
|
567,199 |
595,007 |
| Interest received |
|
268,185 |
292,655 |
| Net cash used in investing activities |
|
(821,871) |
(358,747) |
| Change in cash and cash equivalents in |
|
|
|
| the reporting period |
|
(234,762) |
75,761 |
| Cash and cash equivalents at the |
|
|
|
| beginning of the reporting period |
|
400,485 |
324,724 |
| Cash and cash equivalents at the end of |
|
|
|
| the reporting period |
|
165,723 |
400,485 |
| ACTIVITIES |
|
|
|
2021 |
2020 |
|
£ |
£ |
| Net income/(expenditure) for the reporting period (as per the |
|
|
| Statement of Financial Activities) |
1,901,448 |
(1,469,326) |
Adjustments for:
Depreciation charges
(Gain)/losses on investments
Interest received |
123,095
(1,225,253)
(268,185) |
116,902
2,072,834
(292,655) |
| Finance costs |
2,770 |
2,910 |
| Decrease in stocks |
2,471 |
|
(lncrease)/decrease in debtors
lncrease/(decrease) in creditors |
(105,851)
159,384 |
90,581
(83,828) |
| Net cash provided by operations |
589,879 |
437,418 |
|
At 1.4.20 |
Cash flow |
At 31.3.21 |
|
£ |
£ |
£ |
| Net cash |
|
|
|
| Cash at bank and in hand |
400,485 |
(234,762) |
165,723 |
|
400,485 |
(234,762) |
165,723 |
Total |
400,485 |
(234,762) |
165,723 |
| Flousing properties for letting |
10% on cost, 5% on cost, not provided and between 15 to 50 |
|
years |
| Non-social housing properties |
not provided and between 15 to 50 years |
| Fixtures and fittings |
33% on reducing balance, 20% on reducing balance and 10% |
|
on cost |
| Motor vehicles |
25% on reducing balance |
| Property components lifespan are as defined in DCLG Decent Homes Guidance Annex A. |
|
| INVESTMENT INCOME |
|
|
|
|
|
2021 |
2020 |
|
|
£ |
£ |
| Bank interest |
|
168 |
745 |
| NAACIF & M&G Charifund interest |
|
241,243 |
261,912 |
| COIF interest |
|
26,774 |
29,998 |
|
|
268,185 |
292,655 |
| INCOME FROM CHARITABLE ACTIVITIES |
|
|
|
|
|
2021 |
2020 |
|
Activity |
£ |
£ |
|
Provide accommodation via almshouses, |
|
|
| Almshouse & market property sheltered housing and a residential care |
|
|
|
| rents |
home for the residents of Derby |
872,093 |
864,125 |
|
Provide accommodation via almshouses, |
|
|
|
sheltered housing and a residential care |
|
|
| Care home residential fees |
home for the residents of Derby |
1,073,735 |
1,118,090 |
| Commercial rents |
Provide commercial premises for rent |
187,958 |
189,183 |
|
|
2,133,786 |
2,171,398 |
| CHARITABLE ACTIVITIES COSTS |
|
|
|
|
|
|
Grant |
|
|
|
|
funding of |
|
|
|
|
activities |
Support |
|
|
Direct |
(see note |
costs (see |
|
|
Costs |
6) |
note 7) |
Totals |
|
£ |
£ |
£ |
£ |
| Provide accommodation via |
|
|
|
|
| almshouses, sheltered housing and a |
|
|
|
|
| residential care home for the residents |
|
|
|
|
| of Derby |
1,622,799 |
51,092 |
93,033 |
1,766,924 |
| Support financial hardship of residents |
|
|
|
|
| of Derby |
|
24,504 |
|
24,504 |
|
1,622,799 |
75,596 |
93,033 |
1,791,428 |
| GRANTS PAYABLE |
|
|
|
|
|
|
|
2021 |
2020 |
|
|
|
£ |
£ |
| Provide accommodation via almshouses, sheltered housing and a |
|
residential |
|
|
| care home for the residents of Derby |
|
|
51,092 |
53,418 |
| Support financial hardship of residents of Derby |
|
|
24,504 |
56,068 |
|
|
|
75,596 |
109,486 |
| The total grants paid to individuals during the year |
was as follows: |
|
|
|
|
|
|
2021 |
2020 |
|
|
|
£ |
£ |
| Winter fuel and water payments |
|
|
39,451 |
38,750 |
| Christmas presents - Almshouse residents |
|
|
9,091 |
9,300 |
| Residents' outings |
|
|
18 |
957 |
| Amenities fund |
|
|
(800) |
800 |
| Household fund |
|
|
24,289 |
53,958 |
| Chair's Crisis Fund |
|
|
260 |
2,110 |
| Christmas hampers |
|
|
1,900 |
1,900 |
| Christmas presents - Care Home residents |
|
|
800 |
802 |
| Fees shortfall contributions |
|
|
587 |
909 |
|
|
|
75,596 |
109,486 |
| SUPPORT COSTS |
|
|
Governance |
|
costs |
|
£ |
| Provide accommodation via almshouses, |
|
| sheltered housing and a residential care |
|
| home for the residents of Derby |
93,033 |
|
2021 |
2020 |
|
£ |
£ |
| Fees payable to the charity’s auditors for the audit of the charity's financial |
|
|
| statements |
5,000 |
5,000 |
| STAFF COSTS |
|
|
|
2021 |
2020 |
|
£ |
£ |
| Wages and salaries |
977,831 |
969,194 |
| Social security costs |
71,774 |
65,906 |
| Other pension costs |
16,628 |
13,891 |
|
1,066,233 |
1,048,991 |
|
2021 |
2020 |
| Senior management |
2 |
2 |
| Office staff |
5 |
5 |
| Maintenance staff |
4 |
4 |
| Resident support and care home staff |
38 |
43 |
|
49 |
54 |
|
Unrestricted |
Restricted |
Endowment |
Total |
|
funds |
funds |
fund |
funds |
|
£ |
£ |
£ |
£ |
| INCOME AND ENDOWMENTS FROM |
|
|
|
|
| Charitable activities |
|
|
|
|
| Provide accommodation via almshouses, |
|
|
|
|
| sheltered housing and a residential care home |
|
|
|
|
| for the residents of Derby |
1,982,215 |
|
|
1,982,215 |
| Provide commercial premises for rent |
189,183 |
|
|
189,183 |
| Investment income |
292,655 |
|
|
292,655 |
| Other income |
7,195 |
|
|
7,195 |
| Total |
2,471,248 |
|
|
2,471,248 |
COMPARATIVES FOR THE ST
11. |
ATEMENT OF |
INANCIAL ACTI |
ITIES - continu |
ed |
|
|
|
Unrestricted |
Restricted |
Endowment |
Total |
|
|
funds |
funds |
fund |
funds |
|
|
£ |
£ |
£ |
£ |
| EXPENDITURE ON |
|
|
|
|
|
| Charitable activities |
|
|
|
|
|
| Provide accommodation via almshouses, |
|
|
|
|
|
sheltered housing and a residential care home
for the residents of Derby |
|
1,811,672 |
|
|
1,811,672 |
Support financial hardship of residents of
Derby |
|
56,068 |
|
|
56,068 |
| Total |
|
1,867,740 |
|
|
1,867,740 |
| Net gains/(losses) on investments |
|
(2,031,166) |
|
(41,668) |
(2,072,834) |
| NET INCOME/(EXPENDITURE) |
|
(1,427,658) |
|
(41,668) |
(1,469,326) |
| RECONCILIATION OF FUNDS |
|
|
|
|
|
| Total funds brought forward |
|
22,071,071 |
|
234,168 |
22,305,239 |
| TOTAL FUNDS CARRIED FORWARD |
|
20,643,413 |
|
192,500 |
20,835,913 |
| 12. TANGIBLE FIXED ASSETS |
|
|
|
|
|
|
Housing |
|
|
|
|
|
properties |
Non-social |
Fixtures |
|
|
|
for |
housing |
and |
Motor |
|
|
letting |
properties |
fittings |
vehicles |
Totals |
|
£ |
£ |
£ |
£ |
£ |
| COST |
|
|
|
|
|
At 1 April 2020
Additions |
8.919,223
137,459 |
1,200,054 |
303,200
61,941 |
13,900 |
10,436,377
199,400 |
| Reclassification |
1,215,000 |
|
|
- |
1,215,000 |
| At 31 March 2021 |
10,271,682 |
1,200,054 |
365,141 |
13,900 |
11,850,777 |
| DEPRECIATION |
|
|
|
|
|
At 1 April 2020
Charge for year |
299,887
86,517 |
13,834
2,659 |
168,256
32,453 |
8,036
1,466 |
490,013
123,095 |
| At 31 March 2021 |
386,404 |
16,493 |
200,709 |
9,502 |
613,108 |
| NET BOOK VALUE |
|
|
|
|
|
| At 31 March 2021 |
9,885,278 |
1,183,561 |
164,432 |
4,398 |
11,237,669 |
| At 31 March 2020 |
8,619,336 |
1,186,220 |
134,944 |
5,864 |
9,946,364 |
| FIXED ASSET INVESTMENTS |
|
|
|
|
|
Cash and |
|
|
Listed |
settlements |
|
|
investments |
pending |
Totals |
|
£ |
£ |
£ |
| MARKET VALUE |
|
|
|
| At 1 April 2020 |
5,523,411 |
1,304,366 |
6,827,777 |
| Additions |
361,443 |
1,079,024 |
1,440,467 |
| Disposals |
|
(567,199) |
(567,199) |
| Revaluations |
1,225,253 |
|
1,225,253 |
| At 31 March 2021 |
7,110,107 |
1,816,191 |
8,926,298 |
| NET BOOK VALUE |
|
|
|
| At 31 March 2021 |
7,110,107 |
1,816,191 |
8,926,298 |
| At 31 March 2020 |
5,523,411 |
1,304,366 |
6,827,777 |
|
|
|
Cash and |
|
|
|
Listed |
settlements |
|
|
|
investments |
pending |
Totals |
|
|
£ |
£ |
£ |
| Valuation in |
2021 |
975,273 |
|
975,273 |
| Cost |
|
6,134,834 |
1,816,191 |
7,951,025 |
|
|
7,110,107 |
1,816,191 |
8,926,298 |
| INVESTMENT PROPERTY |
|
|
£ |
| FAIR VALUE |
|
| At 1 April 2020 |
3,730,000 |
| Additions |
17,388 |
| Reclassification |
(1,215,000) |
| At 31 March 2021 |
2,532,388 |
| NET BOOK VALUE |
|
| At 31 March 2021 |
2,532,388 |
| At 31 March 2020 |
3,730,000 |
| 15. STOCKS |
|
|
|
2021 |
2020 |
|
£ |
£ |
| Stocks |
|
2,471 |
| 16. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
|
|
|
2021 |
2020 |
|
£ |
£ |
| Rents, maintenance contributions and care home fees outstanding |
143,363 |
71,330 |
| Other debtors |
32,775 |
|
| Prepayments and accrued income |
11,376 |
10,333 |
|
187,514 |
81,663 |
| 17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
|
|
|
2021 |
2020 |
|
£ |
£ |
| Payments on account |
104,065 |
14,020 |
| Trade creditors |
73,029 |
40,147 |
| Social security and other taxes |
14,188 |
15,204 |
| Other creditors |
96,122 |
60,722 |
| Accrued expenses |
24,827 |
22,754 |
|
312,231 |
152,847 |
| 18. MOVEMENT IN FUNDS |
|
|
|
|
|
|
Net |
Transfers |
|
|
|
movement |
between |
At |
|
At 1.4.20 |
in funds |
funds |
31.3.21 |
|
£ |
£ |
£ |
£ |
| Unrestricted funds |
|
|
|
|
| General reserves |
14,172,193 |
882,541 |
(578,547) |
14,476,187 |
| Extraordinary Repair Fund |
1,548,857 |
480,991 |
192,066 |
2.221,914 |
| Cyclical Maintenance Fund |
596,444 |
125,909 |
(43,639) |
678,714 |
| Property Development Fund |
1,970,128 |
81,707 |
352,612 |
2,404,447 |
| Asset Replacement Reserve |
88,716 |
|
(6,492) |
82,224 |
| Charitable Fund |
436,490 |
|
|
436,490 |
| Liversage Court- Fee Shortfall Fund |
22,977 |
|
|
22,977 |
| Liversage Court- Equalisation Fund |
116,000 |
|
29,000 |
145,000 |
| Oueen Victoria Loan Fund |
1,094,391 |
286,542 |
|
1,380,933 |
| Liversage Court - Depreciation fund |
597,217 |
|
55,000 |
652,217 |
|
20,643,413 |
1,857,690 |
|
22,501,103 |
| Endowment funds |
|
|
|
|
| General Endowment |
192,500 |
43,758 |
|
236,258 |
| TOTAL FUNDS |
20,835,913 |
1,901,448 |
|
22,737,361 |
|
Incoming |
Resources |
Gains and |
Movement |
|
resources |
expended |
losses |
in funds |
|
£ |
£ |
£ |
£ |
| Unrestricted funds |
|
|
|
|
| General reserves |
2,356,180 |
(1,791,428) |
317,789 |
882.541 |
| Extraordinary Repair Fund |
77,843 |
|
403,148 |
480,991 |
| Cyclical Maintenance Fund |
20,377 |
|
105,532 |
125,909 |
| Property Development Fund |
13,223 |
|
68,484 |
81,707 |
| Queen Victoria Loan Fund |
|
|
286,542 |
286.542 |
|
2,467,623 |
(1,791,428) |
1,181,495 |
1,857,690 |
| Endowment funds |
|
|
|
|
| General Endowment |
|
|
43,758 |
43,758 |
| TOTAL FUNDS |
2,467,623 |
(1,791,428) |
1,225,253 |
1,901,448 |
| Comparatives for movement in funds |
|
|
|
|
|
|
Net |
Transfers |
|
|
|
movement |
between |
At |
|
At 1.4.19 |
in funds |
funds |
31.3.20 |
|
£ |
£ |
£ |
£ |
| Unrestricted funds |
|
|
|
|
| General reserves |
15,396,161 |
(754,975) |
(468,993) |
14,172,193 |
| Extraordinary Repair Fund |
1,689,585 |
(285,173) |
144,445 |
1,548,857 |
| Cyclical Maintenance Fund |
702,070 |
(74,650) |
(30,976) |
596,444 |
| Property Development Fund |
1,748,369 |
(48,443) |
270,202 |
1,970,128 |
| Asset Replacement Reserve |
88,091 |
|
625 |
88,716 |
| Charitable Fund |
436,490 |
|
|
436,490 |
| Liversage Court- Fee Shortfall Fund |
23,280 |
|
(303) |
22,977 |
| Liversage Court- Equalisation Fund |
86,000 |
|
30,000 |
116,000 |
| Queen Victoria Loan Fund |
1,358,808 |
(264,417) |
|
1,094,391 |
| Liversage Court - Depreciation fund |
542,217 |
|
55,000 |
597,217 |
|
22,071,071 |
(1,427,658) |
|
20,643,413 |
| Endowment funds |
|
|
|
|
| General Endowment |
234,168 |
(41,668) |
|
192,500 |
| TOTAL FUNDS |
22,305,239 |
(1,469,326) |
|
20,835,913 |
|
Incoming |
Resources |
Gains and |
Movement |
|
resources |
expended |
losses |
in funds |
|
£ |
£ |
£ |
£ |
| Unrestricted funds |
|
|
|
|
| General reserves |
2,353,421 |
(1,867,740) |
(1,240,656) |
(754,975) |
Extraordinary Repair Fund
Cyclical Maintenance Fund
Property Development Fund
Queen Victoria Loan Fund |
82,302
21,544
13,981 |
|
(367,475)
(96,194)
(62,424)
(264,417) |
(285,173)
(74,650)
(48,443)
(264,417) |
|
2,471,248 |
(1,867,740) |
(2,031,166) |
(1,427,658) |
| Endowment funds |
|
|
|
|
| General Endowment |
|
|
(41,668) |
(41,668) |
| TOTAL FUNDS |
2,471,248 |
(1,867,740) |
(2,072,834) |
(1,469,326) |