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||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**|
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||||||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`|
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|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.||
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|**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`|
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|**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|
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|**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|
##
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|**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|
##
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||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|
##
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||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)|
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