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2023-03-31-accounts
|
|
|
|
|
2023 |
2022 |
|
|
Unrestricted |
Restricted |
Endowment |
Total |
Total |
|
|
funds |
funds |
fund |
funds |
funds |
|
Notes |
£ |
£ |
£ |
£ |
£ |
| INCOME AND ENDOWMENTS |
|
|
|
|
|
|
| FROM |
|
|
|
|
|
|
| Donations and legacies |
3 |
1,053 |
|
|
1,053 |
|
| Charitable activities |
5 |
|
|
|
|
|
| Provide accommodation via |
|
|
|
|
|
|
| almshouses, sheltered housing |
|
|
|
|
|
|
| and a residential care home for |
|
|
|
|
|
|
| the residents of Derby |
|
2,154,551 |
|
|
2,154,551 |
2,011,330 |
| Provide commercial premises for |
|
|
|
|
|
|
rent |
|
176,635 |
|
|
176,635 |
183,309 |
| Investment income |
4 |
354,064 |
|
|
354,064 |
275,437 |
| Other income |
|
10,692 |
|
|
10,692 |
56,424 |
| Total |
|
2,696,995 |
|
|
2,696,995 |
2,526,500 |
| EXPENDITURE ON |
|
|
|
|
|
|
| Charitable activities |
6 |
|
|
|
|
|
| Provide accommodation via |
|
|
|
|
|
|
| almshouses, sheltered housing |
|
|
|
|
|
|
| and a residential care home for |
|
|
|
|
|
|
| the residents of Derby |
|
2,227,778 |
|
|
2,227,778 |
1,712,999 |
| Support financial hardship of |
|
|
|
|
|
|
| residents of Derby via Household |
|
|
|
|
|
|
| fund and Chair's Crisis Fund |
|
70,218 |
|
|
70,218 |
54,614 |
| Provide commercial premises for |
|
|
|
|
|
|
| rent |
|
7,616 |
|
|
7,616 |
11,233 |
| Total |
|
2,305,612 |
|
|
2,305,612 |
1,778,846 |
| Net gains/(losses) on investments |
|
(292,562) |
|
(7,041) |
(299,603) |
695,505 |
| NET INCOME/(EXPENDITURE) |
|
98,821 |
|
(7,041) |
91,780 |
1,443,159 |
| RECONCILIATION OF FUNDS |
|
|
|
|
|
|
| Total funds brought forward |
|
23,927,815 |
|
252,705 |
24,180,520 |
22,737,361 |
TOTAL FUNDS CARRIED |
|
|
|
|
|
|
FORWARD |
|
24,026,636 |
|
245,664 |
24,272,300 |
24,180,520 |
|
|
|
|
|
2023 |
2022 |
|
|
Unrestricted |
Restricted |
Endowment |
Total |
Total |
|
|
funds |
funds |
fund |
funds |
funds |
|
Notes |
£ |
£ |
£ |
£ |
£ |
| FIXED ASSETS |
|
|
|
|
|
|
| Tangible assets |
13 |
11,435,816 |
|
|
11,435,816 |
11,275,771 |
| Investments |
|
|
|
|
|
|
| Investments |
14 |
9,782,012 |
|
245,664 |
10,027,676 |
9,878,941 |
| Investment property |
15 |
2,707,624 |
|
______- |
2,707,624 |
2,707,624 |
|
|
23,925,452 |
|
245,664 |
24,171,116 |
23,862,336 |
| CURRENT ASSETS |
|
|
|
|
|
|
| Stocks |
16 |
2,976 |
|
|
2,976 |
|
| Debtors: amounts falling due |
|
|
|
|
|
|
| within one year |
17 |
91,998 |
|
|
91,998 |
141,522 |
| Cash at bank and in hand |
|
432,007 |
|
|
432,007 |
449,181 |
|
|
526,981 |
|
|
526,981 |
590,703 |
| CREDITORS |
|
|
|
|
|
|
| Amounts falling due within one |
|
|
|
|
|
|
| year |
18 |
(425,797) |
|
|
(425,797) |
(272,519) |
| NET CURRENT ASSETS |
|
101,184 |
|
|
101,184 |
318,184 |
| TOTAL ASSETS LESS |
|
|
|
|
|
|
| CURRENT LIABILITIES |
|
24,026,636 |
|
245,664 |
24,272,300 |
24,180,520 |
| NET ASSETS |
|
24,026,636 |
|
245,664 |
24,272,300 |
24,180,520 |
| FUNDS |
19 |
|
|
|
|
|
| Unrestricted funds |
|
|
|
|
24,026,636 |
23,927,815 |
| Endowment funds |
|
|
|
|
245,664 |
252,705 |
| TOTAL FUNDS |
|
|
|
|
24,272,300 |
24,180,520 |
|
|
2023 |
2022 |
|
Notes |
£ |
£ |
| Cash flows from operating activities |
|
|
|
| Cash generated from operations |
1 |
382,104 |
648,672 |
| Finance costs paid |
|
(3,295) |
(3,266) |
| Net cash provided by operating activities |
|
378,809 |
645,406 |
| Cash flows from investing activities |
|
|
|
| Purchase of tangible fixed assets |
|
(301,707) |
(205,012) |
| Purchase of fixed asset investments |
|
(448,338) |
(648,145) |
| Purchase of investment property |
|
(2) |
(26,032) |
| Sale of fixed asset investments |
|
|
241,804 |
| Interest received |
|
354,064 |
275,437 |
| Net cash used in investing activities |
|
(395,983) |
(361,948) |
| Change in cash and cash equivalents in |
|
|
|
| the reporting period |
|
(17,174) |
283,458 |
| Cash and cash equivalents at the |
|
|
|
| beginning of the reporting period |
|
449,181 |
165,723 |
| Cash and cash equivalents at the end of |
|
|
|
| the reporting period |
|
432,007 |
449,181 |
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Net income for the reporting period (as per the Statement of Financial |
|
|
|
|
Activities) |
|
91,780 |
1,443,159 |
|
Adjustments for: |
|
|
|
|
Depreciation charges |
|
141,663 |
166,910 |
|
Losses/(gain) on investments |
|
299,603 |
(695,505) |
|
Interest received |
|
(354,064) |
(275,437) |
|
Finance costs |
|
3,295 |
3,266 |
|
Increase in stocks |
|
(2,976) |
|
|
Decrease in debtors |
|
49,524 |
45,992 |
|
lncrease/(decrease) in creditors |
|
153,279 |
(39,713) |
|
Net cash provided by operations |
|
382,104 |
648,672 |
| 2. |
ANALYSIS OF CHANGES IN NET FUNDS |
|
|
|
|
|
At 1.4.22 |
Cash flow |
At 31.3.23 |
|
|
£ |
£ |
£ |
|
Net cash |
|
|
|
|
Cash at bank and in hand |
449,181 |
(17,174) |
432,007 |
|
|
449,181 |
(17,174) |
432,007 |
|
Total |
449,181 |
(17,174) |
432,007 |
| Housing 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. |
|
| 3. |
DONATIONS AND LEGACIES |
|
|
|
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Donations |
|
1,053 |
|
| 4. |
INVESTMENT INCOME |
|
|
|
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Bank interest |
|
1,839 |
24 |
|
M&G Securities Funds income |
|
295,564 |
247,431 |
|
CCLA Investment income and Deposit interest |
|
56,661 |
27,982 |
|
|
|
354,064 |
275,437 |
| 5. |
INCOME FROM CHARITABLE ACTIVITIES |
|
|
|
|
|
|
2023 |
2022 |
|
|
Activity |
£ |
£ |
|
|
Provide accommodation via almshouses, |
|
|
|
Almshouse & market property |
sheltered housing and a residential care home |
|
|
|
rents |
for the residents of Derby |
907,222 |
876,054 |
|
|
Provide accommodation via almshouses, |
|
|
|
|
sheltered housing and a residential care home |
|
|
|
Care home residential fees |
for the residents of Derby |
1,247,329 |
1,135,276 |
|
Commercial rents |
Provide commercial premises for rent |
176,635 |
183,309 |
|
|
|
2,331,186 |
2,194,639 |
| CHARITABLE ACTIVITIES COSTS |
|
|
|
|
|
|
Grant |
|
|
|
|
funding of |
|
|
|
|
activities |
Support |
|
|
Direct |
(see note |
costs (see |
|
|
Costs |
7) |
note 8) |
Totals |
|
£ |
£ |
£ |
£ |
| Provide accommodation via almshouses, |
|
|
|
|
| sheltered housing and a residential care |
|
|
|
|
| home for the residents of Derby |
2,040,248 |
82,598 |
104,932 |
2,227,778 |
| Support financial hardship of residents of |
|
|
|
|
| Derby via Household fund and Chair's |
|
|
|
|
| Crisis Fund |
|
70,218 |
|
70,218 |
| Provide commercial premises for rent |
7,616 |
|
|
7,616 |
|
2,047,864 |
152,816 |
104,932 |
2,305,612 |
| 7. |
GRANTS PAYABLE |
|
|
|
|
2023 |
2022 |
|
|
£ |
£ |
|
Provide accommodation via almshouses, sheltered housing and a residential |
|
|
|
care home for the residents of Derby |
82,598 |
50,647 |
|
Support financial hardship of residents of Derby via Household fund and Chair's |
|
|
|
Crisis Fund |
70,218 |
54,614 |
|
|
152,816 |
105,261 |
|
The total grants paid to individuals during the year was as follows: |
|
|
|
|
2023 |
2022 |
|
|
£ |
£ |
|
Winter fuel and water payments |
70,720 |
38,100 |
|
Christmas presents - Almshouse residents |
9,978 |
9,047 |
|
Amenities fund |
|
800 |
|
Household fund |
56,428 |
52,474 |
|
Chair’s Crisis Fund |
13,790 |
2,140 |
|
Christmas hampers |
1,900 |
1,900 |
|
Christmas presents - Care Home residents |
|
800 |
|
|
152,816 |
105,261 |
| 8. |
SUPPORT COSTS |
|
|
|
|
|
Governance |
|
|
|
costs |
|
|
|
£ |
|
Provide accommodation via almshouses, |
|
|
|
sheltered housing and a residential care home |
|
|
|
for the residents of Derby |
|
104,932 |
| AUDITORS' REMUNERATION |
|
|
|
2023 |
2022 |
|
£ |
£ |
| Fees payable to the charity's auditors for the audit of the charity's financial |
|
|
| statements |
5,000 |
5,000 |
|
2023 |
2022 |
|
£ |
£ |
| Wages and salaries |
963,576 |
964,599 |
| Social security costs |
79,181 |
70,863 |
| Other pension costs |
16,625 |
17,112 |
|
1,059,382 |
1,052,574 |
| The average monthly number of employees during the year was as follows: |
|
|
|
2023 |
2022 |
| Senior management |
2 |
2 |
| Office staff |
5 |
5 |
| Maintenance staff |
4 |
4 |
| Resident support and care home staff |
42 |
40 |
|
53 |
51 |
|
|
|
2023 |
2022 |
| £60,001-£70,000 |
|
|
1 |
0 |
| COMPARATIVES FOR THE STATEMENT OF |
FINANCIAL ACTIVITIES |
|
|
|
|
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 |
2,011,330 |
|
|
2,011,330 |
| Provide commercial premises for rent |
183,309 |
|
|
183,309 |
| Investment income |
275,437 |
|
|
275,437 |
| Other income |
56,424 |
|
|
56,424 |
| Total |
2,526,500 |
|
|
2,526,500 |
| EXPENDITURE ON |
|
|
|
|
| Charitable activities |
|
|
|
|
| Provide accommodation via almshouses, |
|
|
|
|
| sheltered housing and a residential care home |
|
|
|
|
| for the residents of Derby |
1,712,999 |
|
|
1,712,999 |
| Support financial hardship of residents of Derby |
|
|
|
|
| via Household fund and Chair's Crisis Fund |
54,614 |
|
|
54,614 |
| Provide commercial premises for rent |
11,233 |
|
|
11,233 |
| Total |
1,778,846 |
|
|
1,778,846 |
| Net gains on investments |
679,058 |
|
16,447 |
695,505 |
| NET INCOME |
1,426,712 |
|
16,447 |
1,443,159 |
|
Page 18 |
|
|
continued... |
| 12. COMPARATIVES FOR THE STATEMENT OF |
12. COMPARATIVES FOR THE STATEMENT OF |
FINANCIAL ACTIVITIES - continued |
FINANCIAL ACTIVITIES - continued |
|
|
|
|
Unrestricted |
Restricted |
Endowment |
Total |
|
|
funds |
funds |
fund |
funds |
|
|
£ |
£ |
£ |
£ |
| RECONCILIATION OF FUNDS |
|
|
|
|
|
| Total funds brought forward |
|
22,501,103 |
|
236,258 |
22,737,361 |
| TOTAL FUNDS CARRIED FORWARD |
|
23,927,815 |
|
252,705 |
24,180,520 |
| 13. TANGIBLE FIXED ASSETS |
|
|
|
|
|
|
Housing |
|
|
|
|
|
properties |
Non-social |
Fixtures |
|
|
|
for |
housing |
and |
Motor |
|
|
letting |
properties |
fittings |
vehicles |
Totals |
|
£ |
£ |
£ |
£ |
£ |
| COST |
|
|
|
|
|
| At 1 April 2022 |
10,440,487 |
1,205,257 |
396,145 |
13,900 |
12,055,789 |
| Additions |
262,915 |
|
38,792 |
|
301,707 |
| At 31 March 2023 |
10,703,402 |
1,205,257 |
434,937 |
13,900 |
12,357,496 |
| DEPRECIATION |
|
|
|
|
|
| At 1 April 2022 |
473,305 |
19,673 |
274,063 |
12,977 |
780,018 |
| Charge for year |
104,667 |
3,179 |
33,585 |
231 |
141,662 |
| At 31 March 2023 |
577,972 |
22,852 |
307,648 |
13,208 |
921,680 |
| NET BOOK VALUE |
|
|
|
|
|
| At 31 March 2023 |
10,125,430 |
1,182,405 |
127,289 |
692 |
11,435,816 |
| At 31 March 2022 |
9,967,182 |
1,185,584 |
122,082 |
923 |
11,275,771 |
| 14. FIXED ASSET INVESTMENTS |
|
|
|
|
|
| FIXED ASSET INVESTMENTS |
|
|
|
|
|
Cash and |
|
|
Listed |
settlements |
|
|
investments |
pending |
Totals |
|
£ |
£ |
£ |
| MARKET VALUE |
|
|
|
| At 1 April 2022 |
7,761,321 |
2,117,620 |
9,878,941 |
| Additions |
140,929 |
307,409 |
448,338 |
| Revaluations |
(299,603) |
|
(299,603) |
| At 31 March 2023 |
7,602,647 |
2,425,029 |
10,027,676 |
| PROVISIONS |
|
|
|
| Reclassification/transfer |
(500,000) |
500,000 |
|
| NET BOOK VALUE |
|
|
|
| At 31 March 2023 |
8,102,647 |
1,925,029 |
10,027,676 |
| At 31 March 2022 |
7,761,321 |
2,117,620 |
9,878,941 |
|
|
Cash and |
|
|
Listed |
settlements |
|
|
investments |
pending |
Totals |
|
£ |
£ |
£ |
| Valuation in 2023 |
(299,603) |
|
(299,603) |
| Cost |
7,902,250 |
2,425,029 |
10,327,279 |
|
7,602,647 |
2,425,029 |
10,027,676 |
| INVESTMENT PROPERTY |
|
|
|
|
|
|
£ |
| FAIR VALUE |
|
|
|
| At 1 April 2022 |
|
|
|
| and 31 March 2023 |
|
|
2,707,624 |
| NET BOOK VALUE |
|
|
|
| At 31 March 2023 |
|
|
2,707,624 |
| At 31 March 2022 |
|
|
2,707,624 |
| Fair value at 31 March 2023 is represented by: |
|
|
|
|
|
|
£ |
| Valuation in 2022 |
|
|
149,204 |
| Cost |
|
|
2,558,420 |
|
|
|
2,707,624 |
| DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
|
|
|
2023 |
2022 |
|
£ |
£ |
| Rents, maintenance contributions and care home fees outstanding |
62,770 |
83,259 |
| Other debtors |
|
32,775 |
| Prepayments and accrued income |
29,228 |
25,488 |
|
91,998 |
141,522 |
| CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
|
|
|
2023 |
2022 |
|
£ |
£ |
| Payments on account |
131,026 |
47,630 |
| Trade creditors |
75,066 |
39,417 |
| Social security and other taxes |
14,862 |
18,542 |
| Other creditors |
125,515 |
111,526 |
| Accrued expenses |
79,328 |
55,404 |
|
425,797 |
272,519 |
| 19. MOVEMENT IN FUNDS |
|
|
|
|
|
|
Net |
Transfers |
|
|
|
movement |
between |
At |
|
At 1.4.22 |
in funds |
funds |
31.3.23 |
|
£ |
£ |
£ |
£ |
| Unrestricted funds |
|
|
|
|
| General reserves |
15,034,954 |
856,749 |
(765,903) |
15,125,800 |
| Extraordinary Repair Fund |
2,632,655 |
(368,031) |
394,491 |
2,659,115 |
| Cyclical Maintenance Fund |
699,835 |
(236,121) |
21,000 |
484,714 |
| Property Development Fund |
2,698,802 |
(73,217) |
308,004 |
2,933,589 |
| Asset Replacement Reserve |
81,560 |
(11,581) |
23,004 |
92,983 |
| Charitable Fund |
436,490 |
|
|
436,490 |
| Liversage Court- Fee Shortfall Fund |
22,977 |
|
(600) |
22,377 |
| Liversage Court- Equalisation Fund |
145,000 |
|
|
145,000 |
| Queen Victoria Loan Fund |
1,503,325 |
(52,395) |
|
1,450,930 |
| Liversage Court - Depreciation fund |
672,217 |
(16,583) |
20,004 |
675,638 |
|
23,927,815 |
98,821 |
|
24,026,636 |
| Endowment funds |
|
|
|
|
| General Endowment |
252,705 |
(7,041) |
|
245,664 |
| TOTAL FUNDS |
24,180,520 |
91,780 |
|
24,272,300 |
|
Incoming |
Resources |
Gains and |
Movement |
|
resources |
expended |
losses |
in funds |
|
£ |
£ |
£ |
£ |
| Unrestricted funds |
|
|
|
|
| General reserves |
2,556,067 |
(1,634,466) |
(64,852) |
856,749 |
| Extraordinary Repair Fund |
87,197 |
(310,123) |
(145,105) |
(368,031) |
| Cyclical Maintenance Fund |
22,825 |
(243,168) |
(15,778) |
(236,121) |
| Property Development Fund |
30,907 |
(89,692) |
(14,432) |
(73,217) |
| Asset Replacement Reserve |
|
(11,581) |
|
(11,581) |
| Queen Victoria Loan Fund |
|
|
(52,395) |
(52,395) |
| Liversage Court - Depreciation fund |
11) |
(16,582) |
|
(16,583) |
|
2,696,995 |
(2,305,612) |
(292,562) |
98,821 |
| Endowment funds |
|
|
|
|
| General Endowment |
|
|
(7,041) |
(7,041) |
| TOTAL FUNDS |
2,696,995 |
(2,305,612) |
(299,603) |
91,780 |
|
|
Net |
Transfers |
|
|
|
movement |
between |
At |
|
At 1.4.21 |
in funds |
funds |
31.3.22 |
|
£ |
£ |
£ |
£ |
| Unrestricted funds |
|
|
|
|
| General reserves |
14,476,187 |
960.478 |
(401,711) |
15,034,954 |
| Extraordinary Repair Fund |
2,221,914 |
241,220 |
169,521 |
2,632,655 |
| Cyclical Maintenance Fund |
678,714 |
62,235 |
(41,114) |
699,835 |
| Property Development Fund |
2,404,447 |
40,387 |
253,968 |
2,698,802 |
| Asset Replacement Reserve |
82,224 |
|
(664) |
81,560 |
| Charitable Fund |
436,490 |
|
|
436,490 |
| Liversage Court- Fee Shortfall Fund |
22,977 |
|
|
22,977 |
| Liversage Court- Equalisation Fund |
145,000 |
|
|
145,000 |
| Queen Victoria Loan Fund |
1,380,933 |
122,392 |
|
1,503,325 |
| Liversage Court - Depreciation fund |
652,217 |
|
20,000 |
672,217 |
|
22,501,103 |
1,426,712 |
|
23,927,815 |
| Endowment funds |
|
|
|
|
| General Endowment |
236,258 |
16,447 |
|
252,705 |
| TOTAL FUNDS |
22,737,361 |
1,443,159 |
|
24,180,520 |
|
Incoming |
Resources |
Gains and |
Movement |
|
resources |
expended |
losses |
in funds |
|
£ |
£ |
£ |
£ |
| Unrestricted funds |
|
|
|
|
| General resen/es |
2,421,589 |
(1,782,320) |
321,209 |
960,478 |
| Extraordinary Repair Fund |
92,463 |
3,474 |
145,283 |
241,220 |
| Cyclical Maintenance Fund |
|
|
62,235 |
62,235 |
| Property Development Fund |
12,448 |
|
27,939 |
40,387 |
| Queen Victoria Loan Fund |
|
|
122,392 |
122,392 |
|
2,526,500 |
(1,778,846) |
679,058 |
1,426,712 |
| Endowment funds |
|
|
|
|
| General Endowment |
|
|
16,447 |
16,447 |
| TOTAL FUNDS |
2,526,500 |
(1,778,846) |
695,505 |
1,443,159 |