## **WESSMAPS HOUSING TRUST**
## **TRUSTEES REPORT**
## **2022**
## **1. The Structure, Governance and Management of the Charity**
The Governance of management of the charity is as follows: Three Trustees and the Chief Executive officer who shall automatically (“ex officio”) be a charity trustee, for as long as he or she holds that office.
Edwin Cooke – (Chairman)
Linda Cooke – (HR/Finance)
Diana Leahy – (Governance)
Mrs Jane Lockey – (Chief Executive Officer)
The Board appointed Rowles & Co as the Charities Accountants to oversee the Charities financial affairs during this accounting period:
1[st] April 2021 – 31[st] March 2022.
## 2. **ACHIEVEMENT AND PERFORMANCE** The objects of the CIO are:
## **Charitable activities**
The principal objectives of the CIO are the relief of financial hardship amongst disadvantaged people for the public benefit by providing services to, in particular but not exclusively, disabled and vulnerable people living and working in Hampshire, Dorset, Wiltshire, The Isle of Wight, Berkshire, West Sussex, Southampton and Portsmouth through the provision of supported housing that enables disadvantaged people to live within the community; enabling them to financially meet housing costs; enabling fair access to private rental housing provisions; providing access to interest free loans to fund housing deposits and home set up costs; the provision of additional housing management services all of which such persons could not afford through lack of means.
## **3. PUBLIC BENEFIT**
The Trustees confirm that they have complied with the duty in section 17(5) of the Charities Act 2011 to have due regard to guidance
published by the Charity Commission in deciding what activities the charity should undertake.
## **4. ACHIEVMENTS AND PERFORMANCE**
At the beginning of the financial year, Wessmaps Housing Trust maintained one hundred and sixty three tenancies providing housing support to people across with the different local authorities. WHT has increased the tenancy portfolio to one hundred and ninety-one, providing twenty eight new additional tenancies and additional support to new tenants. During the year, Wessmaps Housing Trust has maintained the existing service of providing affordable housing and support to vulnerable people within Hampshire. Whilst we have not extended working relationships with any new local authorities, we continue to develop our existing partnerships with Southampton City Council and Hampshire County Council on developing additional services to generate more affordable housing and greater choice for independent living throughout Hampshire.
## **5. FINANCIAL REVIEW**
Incoming resources totalled £535,667 (Previously: £370,657) for the period and resources expended were £459,558 (Previously: £311,806) giving a surplus of £76,109 (Previously: surplus £58,851) for the period.
The finances of the Charity were reviewed by the Trustees during this period of accounting. No anomalies were brought to the attention of the Board or reported at this time.
## **REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 FOR**
## **WESSMAPS HOUSING TRUST**
**ROWLES & CO UNIT 104 SOLENT BUSINESS CENTRE MILLBROOK ROAD WEST SOUTHAMPTON SO15 0HW**
**WESSMAPS HOUSING TRUST CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
||Page|
|---|---|
|Report of the Trustees|1-2|
|Independent Examiner’s Report|3|
|Statement of Financial Activities|5|
|Balance Sheet|6-7|
|Notes to the Financial Statements|8-14|
|Detailed Statement of Financial Activities|15|
**WESSMAPS HOUSING TRUST FOR THE YEAR ENDED 31 MARCH 2022**
**Page 1**
The trustees present their report with the financial statements of the charity for the year ended 31 March 2022. The trustees have adopted the provisions of 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 (FRS 102) (effective 1 January 2015).
## **OBJECTIVES AND ACTIVITIES Objectives and aims**
The principal objectives of the CIO are the relief of financial hardship amongst disadvantaged people for the public benefit by providing services to, in particular but not exclusively, disabled and vulnerable people living and working in Hampshire, Dorset, Wiltshire, The Isle of Wight, Berkshire, West Sussex, Southampton and Portsmouth through the provision of supported housing that enables disadvantaged people to live within the community; enabling them to financially meet housing costs; enabling fair access to private rental housing provisions; providing access to interest free loans to fund housing deposits and home set up costs; the provision of additional housing management services all of which such persons could not afford through lack of means.
## **Public benefit**
The Trustees confirm that they have complied with the duty in section 17(5) of the Charities Act 2011 to have due regard to guidance published by the Charity Commission in deciding what activities the charity should undertake.
## **ACHIEVEMENT AND PERFORMANCE Charitable activities**
At the beginning of the financial year, Wessmaps Housing Trust maintained one hundred and sixty three tenancies providing housing support to people across with the different local authorities. WHT has increased the tenancy portfolio to one hundred and ninety one, providing twenty eight new additional tenancies and additional support to new tenants.
During the year, Wessmaps Housing Trust has maintained the existing service of providing affordable housing and support to vulnerable people within Hampshire.
Whilst we have not extended working relationships with any new local authorities we continue to develop our existing partnerships with Southampton City Council and Hampshire County Council on developing additional services to generate more affordable housing and greater choice for independent living throughout Hampshire.
## **FINANCIAL REVIEW**
Incoming resources totalled £535,667 (Prev: £370,657) for the period and resources expended were £459,558 (Prev: £311,806) giving a surplus of £76,109 (Prev: surplus £58,851) for the period.
**WESSMAPS HOUSING TRUST**
**Page 2**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022**
The Trustees aim to ensure that sufficient reserves are held for the purpose for ensuring the continuation of the services and activities of the charity.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document**
The charity is governed by a constitution adopted on 13 March 2014. The Governance and management of the charity is as follows. Three Trustees and the Chief Executive officer whom shall automatically (“ex officio”) be a charity trustee, for as long as he or she holds that office.
Mrs Linda Cooke - (HR/Finance) Mrs Diana Leahy - (Commercial) Mrs Jane Lockey - (CEO)
Overall management of the charity is the responsibility of the trustees who are elected and co-opted under the terms of the constitution. Day to day project activity is managed and carried out by its paid staff.
**WESSMAPS HOUSING TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022**
**Page 3**
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered company number**
CE001071 (England and Wales)
## **Registered Charity number**
1156164
## **Registered Office**
903 Solent Business Centre 343 Millbrook Road West Southampton Hampshire SO15 0HW
## **Trustees**
Mrs L Cooke E V Cooke Mrs D. Leahy
## **Independent Examiner**
Rowles and co Unit 104 Solent Business Centre Millbrook Road West Southampton SO15 0HW
Approved by order of the board of trustees on ………………………………………And signed on its behalf by:
………………………………………………………… D Leahy – Trustee
**INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF WESSMAPS HOUSING TRUST**
**Page 4**
Independent examiner’s report to the trustees of Wessmaps Housing Trust (“the Company”)
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2022.
## **Responsibilities and basis of report**
As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (“the 2011 Act”). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
## **Independent examiner’s statement**
In connection with my examination, no matter has come to my attention to indicate that:
- accounting records have not been kept in accordance with section 386 of the Companies Act 2006;
- the accounts do not accord with such records;
- where accounts are prepared on an accruals basis, whether they fail to comply with relevant accounting requirements under section 396 of the Companies Act 2006, or are not consistent with the Charities SORP (FRS102);
• any matter which the examiner believes should be drawn to the attention of the reader to gain a proper understanding of the accounts.
……………………………………………………………..
Rowles and Co Unit 104 Solent Business Centre Millbrook Road West Southampton SO15 0HW
Date…………………………………..
**WESSMAPS HOUSING TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022**
**Page 5**
**----- Start of picture text -----**
2022 2021
Unrestricted Restricted Total Total
Notes Fund Fund Funds Funds
£ £ £ £
INCOME AND ENDOWMENTS FROM
Charitable activities 3
-
Property Management 536,200 536,200 370,595
Investment income 2 - 533 533 62
Total - 535,667 535,667 370,657
EXPENDITURE ON
-
Raising funds 43,405 43,405 24,170
Charitable activities 4
-
Property Management 413,978 413,978 283,755
Governance Costs - 2,175 2,175 3,881
Total - 459,558 459,558 311,806
-
NET INCOME(EXPENDITURE) 76,109 76,109 58,851
RECONCILIATION OF FUNDS
-
Total funds brought forward 125,958 125,958 67,107
TOTAL FUNDS CARRIED FORWARD - 202,067 202,067 125,958
**----- End of picture text -----**
## **CONTINUING OPERATIONS**
All income and expenditure has arisen from continuing activities
**WESSMAPS HOUSING TRUST BALANCE SHEET AT 31 MARCH 2022**
**Page 6**
**----- Start of picture text -----**
2022 2021
Unrestricted Restricted Total Total
Notes Fund Fund Funds Funds
£ £ £ £
FIXED ASSETS
Tangible assets 10 - 24,800 24,800 30,747
CURRENT ASSETS
Debtors 11 - 389,285 389,285 220,229
Cash in hand - 130,127 130,127 161,615
-
519,412 519,412 381,844
CREDITORS
Amounts falling due within one year 12 - 342,145 342,145 286,633
NET CURRENT ASSETS - 177,267 177,267 95,211
TOTAL ASSETS LESS CURRENT
LIABILITIES - 202,067 202,067 125,958
NET ASSETS - 202,067 202,067 125,958
FUNDS 13
Restricted funds 202,067 125,958
TOTAL FUNDS 202,067 125,958
**----- End of picture text -----**
**WESSMAPS HOUSING TRUST BALANCE SHEET – CONTINUED AT 31 MARCH 2022**
**Page 7**
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
ensuring that the charitable company keeps accounting records that comply with Section 386 and 387 of the Companies Act 2006 and
preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charity company.
These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to charitable small companies.
The financial statements were approved by the Board of Trustees on ………………………………….and were signed on its behalf by:
…………………………………………………..
D Leahy – Trustee
**WESSMAPS HOUSING TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
**Page 8**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) “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 (FRS 102) (effective 1 January 2015)”, Financial Reporting Standard 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” and the Companies Act 2006 . The financial statements have been prepared under the historical cost of convention.
The financial statements are prepared in sterling, which is the financial currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.
There have been no transitional adjustments.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Governance Costs**
Governance costs are included in the Statement of Financial Activities on an accrual basis, exclusive of Value Added Tax.
**WESSMAPS HOUSING TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
**Page 9**
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Computer Equipment - 33% straight line Motor Vehicles - 20% straight line
All assets costing more than £400 are capitalised.
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
**WESSMAPS HOUSING TRUST NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2022**
**Page 10**
## **1. ACCOUNTING POLICIES – continued**
## **Fund Accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Pension costs and other post-retirement benefits**
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company’s pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
## **2. INVESTMENT INCOME**
|Bank interest
**3. INCOME FROM CHARITABLE ACTIVITIES**
Activity
Management fees
Property Management
JRS Grants/Employment Allowance
Property Management
Property management Fees
Property Management
Other income
Property Management|**2022**
**£**
533
**2022**
**£**
494,623
37,968
3,609
-
**536,200**|**2021**
**£**
62
**2021**
**£**
358,358
-
2,237
10,000
**370,595**|
|---|---|---|
## **4. CHARITABLE ACTIVITIES COSTS**
|**Support costs**
**(see note 5)**
**£**
Property Management
413,978
Governance Costs
2,175
**416,153**|**Totals**
**2022**
**£**
413,978
2,175
**416,153**|
|---|---|
**WESSMAPS HOUSING TRUST NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2022**
**Page 11**
## **5. SUPPORT COSTS**
|**Management**
**£**
Property Management
413,978
Governance Costs
-
**413,978**
**6. NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
Depreciation–owned assets|**Other**
**£**
-
-
**-**|**Governance**
**Costs**
**£**
-
2,175
**2,175**
**2022**
**£**
**8,903**|**Totals**
**£**
413,978
2,175
**416,153**
**2021**
**£**
**8,487**|
|---|---|---|---|
## **7. TRUSTEES’ REMUNERATION AND BENEFITS**
There were no trustees’ remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.
## **Trustees Expenses**
There were no trustees’ expenses paid for the year-ended 31 March 2022, the same for the year ended 31 March 2021.
## **8. STAFFING**
The average monthly number of employees during the year was as follows:
**2022 2021 No. No.** Administration 13 11
**WESSMAPS HOUSING TRUST NOTES TO THE FINANCIAL STATEMENTS – CONTINUED FOR THE YEAR ENDED 31 MARCH 2022**
**Page 12**
## **9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|**Unrestricted**
**Fund**
**£**
**INCOME AND ENDOWMENTS FROM**
**Charitable activities**
Property Management
-
Investment Income
-
TOTAL
**-**
**EXPENDITURE ON**
**Charitable activities**
Property Management
-
Other trading activities
-
Interest payable
-
Governance Costs
-
TOTAL
**-**
NET INCOME/(EXPENDITURE)
**-**
**RECONCILIATION OF FUNDS**
Total Funds brought forward
-
**TOTAL FUNDS CARRIED FORWARD**
**-**
**10. TANGIBLE FIXED ASSETS**
**Motor**
**Vehicles**
**£**
COST
**At 1 April 2021**
24,500
Additions
-
**At 31 March 2022**
**24,500**
DEPRECIATION
At 1 April 2021
3,388
Charge for year
4,900
**At 31 March 2022**
**8,288**
NET BOOK VALUE
**At 31 March 2022**
**16,212**
**At 31 MARCH 2021**
**21,112**|**Restricted**
**Fund**
**£**
370,595
62
**370,657**
283,755
24,170
-
3,881
**311,806**
**58,851**
67,107
**125,958**
**Computer**
**Equipment**
**£**
17,058
2,956
**20,014**
7,423
4,003
**11,426**
**8,588**
**9,635**|**Total**
**Funds**
**£**
370,595
62
**370,657**
283,755
24,170
-
3,881
**311,806**
**58,851**
67,107
**125,958**
**Total**
**£**
41,558
2,956
**44,514**
10,811
8,903
**19,714**
**24,800**
**30,747**|
|---|---|---|
**WESSMAPS HOUSING TRUST NOTES TO THE FINANCIAL STATEMENTS – CONTINUED FOR THE YEAR ENDED 31 MARCH 2022**
**Page 13**
**----- Start of picture text -----**
11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£ £
Trade Debtors 240,180 179,773
Other Debtors 149,105 40,456
389,285 220,229
12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£ £
Trade Creditors 2,710 25,056
Social Security and other taxes 7,053 11,419
Other Creditors 327,782 270,696
Accrued expenses 4,600 2,300
342,145 286,633
**----- End of picture text -----**
**WESSMAPS HOUSING TRUST NOTES TO THE FINANCIAL STATEMENTS – CONTINUED FOR THE YEAR ENDED 31 MARCH 2022**
**Page 14**
## **13. MOVEMENT OF FUNDS**
|**At 1.4.21**
**£**
Un Restricted funds
-
Restricted funds
125,958
**TOTAL FUNDS**
**125,958**
**Net movement in funds, included in the above are as follows:**
**Incoming**
**Resources**
**£**
Un Restricted funds
-
Restricted funds
535,667
**TOTAL FUNDS**
**535,667**
**Comparatives for movement in funds**
**At 1.4.20**
**£**
Un Restricted funds
-
Restricted funds
67,107
TOTAL FUNDS
**67,107**
**Comparative net movement in funds, included in the above are as follows:**
**Incoming**
**Resources**
**£**
Restricted funds
-
Restricted funds
370,657
TOTAL FUNDS
**370,657**|**Net**
**movement**
**in funds**
**£**
-
76,109
**76,109**
**Resources**
**Expended**
**£**
-
(459,558)
**(459,558)**
**Movement**
**in funds**
**£**
-
58,851
**58,851**
**Resources**
**Expended**
**£**
-
(311,806)
**(311,806)**|**At 31.3.22**
**£**
-
202,067
**202,067**
**Movement**
**in funds**
**£**
-
76,109
**76,109**
**At 31.3.21**
**£**
-
125,958
**125,958**
**Movement**
**in funds**
**£**
-
58,851
**58,851**|
|---|---|---|
## **14. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 March 2022.
**WESSMAPS HOUSING TRUST DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022**
**Page 15**
**----- Start of picture text -----**
2022 2021
£ £
INCOME AND ENDOWMENTS
Investment income
Bank interest 533 62
Charitable activities
Management Fees 494,623 358,358
-
JRS Grants/Employment Allowance 37,968
Property management Fees 3,609 2,237
Other Income - 10,000
Total Incoming resources 535,667 370,657
EXPENDITURE
Other trading activities
Void Rent 43,405 24,170
- -
Service Charge costs
43,405 24,170
Support Costs
Management
Wages 318,413 221,170
Social Security 26,195 13,353
Pensions 9,691 1,750
Rent 9,477 8,498
Insurance 260 1,503
Telephone 2,796 2,012
Postage and stationery 2,060 1,735
Sundries 1,079 -
Computer and software 6,071 4,293
Rates and water 802 667
Professional Fees 4,639 7,119
Premises Expenses 286 -
Bank Charges 165 113
Depreciation of tangible assets 8,903 8,487
Travel and subsistence 10,643 4,162
Motor costs 12,498 8,893
- -
Advertising
Other
- -
Interest payable
Governance Costs
Accountancy and legal fees 2,175 3,881
416,153 287,636
Total Resources expended 459,558 311,806
Net (expenditure)Income 76,109 58,851
**----- End of picture text -----**
## **REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 FOR**
## **WESSMAPS HOUSING TRUST**
**ROWLES & CO UNIT 104 SOLENT BUSINESS CENTRE MILLBROOK ROAD WEST SOUTHAMPTON SO15 0HW**
**WESSMAPS HOUSING TRUST CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
||Page|
|---|---|
|Report of the Trustees|1-2|
|Independent Examiner’s Report|3|
|Statement of Financial Activities|5|
|Balance Sheet|6-7|
|Notes to the Financial Statements|8-14|
|Detailed Statement of Financial Activities|15|
**WESSMAPS HOUSING TRUST FOR THE YEAR ENDED 31 MARCH 2022**
**Page 1**
The trustees present their report with the financial statements of the charity for the year ended 31 March 2022. The trustees have adopted the provisions of 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 (FRS 102) (effective 1 January 2015).
## **OBJECTIVES AND ACTIVITIES Objectives and aims**
The principal objectives of the CIO are the relief of financial hardship amongst disadvantaged people for the public benefit by providing services to, in particular but not exclusively, disabled and vulnerable people living and working in Hampshire, Dorset, Wiltshire, The Isle of Wight, Berkshire, West Sussex, Southampton and Portsmouth through the provision of supported housing that enables disadvantaged people to live within the community; enabling them to financially meet housing costs; enabling fair access to private rental housing provisions; providing access to interest free loans to fund housing deposits and home set up costs; the provision of additional housing management services all of which such persons could not afford through lack of means.
## **Public benefit**
The Trustees confirm that they have complied with the duty in section 17(5) of the Charities Act 2011 to have due regard to guidance published by the Charity Commission in deciding what activities the charity should undertake.
## **ACHIEVEMENT AND PERFORMANCE Charitable activities**
At the beginning of the financial year, Wessmaps Housing Trust maintained one hundred and sixty three tenancies providing housing support to people across with the different local authorities. WHT has increased the tenancy portfolio to one hundred and ninety one, providing twenty eight new additional tenancies and additional support to new tenants.
During the year, Wessmaps Housing Trust has maintained the existing service of providing affordable housing and support to vulnerable people within Hampshire.
Whilst we have not extended working relationships with any new local authorities we continue to develop our existing partnerships with Southampton City Council and Hampshire County Council on developing additional services to generate more affordable housing and greater choice for independent living throughout Hampshire.
## **FINANCIAL REVIEW**
Incoming resources totalled £535,667 (Prev: £370,657) for the period and resources expended were £459,558 (Prev: £311,806) giving a surplus of £76,109 (Prev: surplus £58,851) for the period.
**WESSMAPS HOUSING TRUST**
**Page 2**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022**
The Trustees aim to ensure that sufficient reserves are held for the purpose for ensuring the continuation of the services and activities of the charity.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document**
The charity is governed by a constitution adopted on 13 March 2014. The Governance and management of the charity is as follows. Three Trustees and the Chief Executive officer whom shall automatically (“ex officio”) be a charity trustee, for as long as he or she holds that office.
Mrs Linda Cooke - (HR/Finance) Mrs Diana Leahy - (Commercial) Mrs Jane Lockey - (CEO)
Overall management of the charity is the responsibility of the trustees who are elected and co-opted under the terms of the constitution. Day to day project activity is managed and carried out by its paid staff.
**WESSMAPS HOUSING TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022**
**Page 3**
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered company number**
CE001071 (England and Wales)
## **Registered Charity number**
1156164
## **Registered Office**
903 Solent Business Centre 343 Millbrook Road West Southampton Hampshire SO15 0HW
## **Trustees**
Mrs L Cooke E V Cooke Mrs D. Leahy
## **Independent Examiner**
Rowles and co Unit 104 Solent Business Centre Millbrook Road West Southampton SO15 0HW
Approved by order of the board of trustees on ………………………………………And signed on its behalf by:
………………………………………………………… D Leahy – Trustee
**INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF WESSMAPS HOUSING TRUST**
**Page 4**
Independent examiner’s report to the trustees of Wessmaps Housing Trust (“the Company”)
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2022.
## **Responsibilities and basis of report**
As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (“the 2011 Act”). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
## **Independent examiner’s statement**
In connection with my examination, no matter has come to my attention to indicate that:
- accounting records have not been kept in accordance with section 386 of the Companies Act 2006;
- the accounts do not accord with such records;
- where accounts are prepared on an accruals basis, whether they fail to comply with relevant accounting requirements under section 396 of the Companies Act 2006, or are not consistent with the Charities SORP (FRS102);
• any matter which the examiner believes should be drawn to the attention of the reader to gain a proper understanding of the accounts.
……………………………………………………………..
Rowles and Co Unit 104 Solent Business Centre Millbrook Road West Southampton SO15 0HW
Date…………………………………..
**WESSMAPS HOUSING TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022**
**Page 5**
**----- Start of picture text -----**
2022 2021
Unrestricted Restricted Total Total
Notes Fund Fund Funds Funds
£ £ £ £
INCOME AND ENDOWMENTS FROM
Charitable activities 3
-
Property Management 536,200 536,200 370,595
Investment income 2 - 533 533 62
Total - 535,667 535,667 370,657
EXPENDITURE ON
-
Raising funds 43,405 43,405 24,170
Charitable activities 4
-
Property Management 413,978 413,978 283,755
Governance Costs - 2,175 2,175 3,881
Total - 459,558 459,558 311,806
-
NET INCOME(EXPENDITURE) 76,109 76,109 58,851
RECONCILIATION OF FUNDS
-
Total funds brought forward 125,958 125,958 67,107
TOTAL FUNDS CARRIED FORWARD - 202,067 202,067 125,958
**----- End of picture text -----**
## **CONTINUING OPERATIONS**
All income and expenditure has arisen from continuing activities
**WESSMAPS HOUSING TRUST BALANCE SHEET AT 31 MARCH 2022**
**Page 6**
**----- Start of picture text -----**
2022 2021
Unrestricted Restricted Total Total
Notes Fund Fund Funds Funds
£ £ £ £
FIXED ASSETS
Tangible assets 10 - 24,800 24,800 30,747
CURRENT ASSETS
Debtors 11 - 389,285 389,285 220,229
Cash in hand - 130,127 130,127 161,615
-
519,412 519,412 381,844
CREDITORS
Amounts falling due within one year 12 - 342,145 342,145 286,633
NET CURRENT ASSETS - 177,267 177,267 95,211
TOTAL ASSETS LESS CURRENT
LIABILITIES - 202,067 202,067 125,958
NET ASSETS - 202,067 202,067 125,958
FUNDS 13
Restricted funds 202,067 125,958
TOTAL FUNDS 202,067 125,958
**----- End of picture text -----**
**WESSMAPS HOUSING TRUST BALANCE SHEET – CONTINUED AT 31 MARCH 2022**
**Page 7**
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
ensuring that the charitable company keeps accounting records that comply with Section 386 and 387 of the Companies Act 2006 and
preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charity company.
These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to charitable small companies.
The financial statements were approved by the Board of Trustees on ………………………………….and were signed on its behalf by:
…………………………………………………..
D Leahy – Trustee
**WESSMAPS HOUSING TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
**Page 8**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) “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 (FRS 102) (effective 1 January 2015)”, Financial Reporting Standard 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” and the Companies Act 2006 . The financial statements have been prepared under the historical cost of convention.
The financial statements are prepared in sterling, which is the financial currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.
There have been no transitional adjustments.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Governance Costs**
Governance costs are included in the Statement of Financial Activities on an accrual basis, exclusive of Value Added Tax.
**WESSMAPS HOUSING TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
**Page 9**
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Computer Equipment - 33% straight line Motor Vehicles - 20% straight line
All assets costing more than £400 are capitalised.
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
**WESSMAPS HOUSING TRUST NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2022**
**Page 10**
## **1. ACCOUNTING POLICIES – continued**
## **Fund Accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Pension costs and other post-retirement benefits**
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company’s pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
## **2. INVESTMENT INCOME**
|Bank interest
**3. INCOME FROM CHARITABLE ACTIVITIES**
Activity
Management fees
Property Management
JRS Grants/Employment Allowance
Property Management
Property management Fees
Property Management
Other income
Property Management|**2022**
**£**
533
**2022**
**£**
494,623
37,968
3,609
-
**536,200**|**2021**
**£**
62
**2021**
**£**
358,358
-
2,237
10,000
**370,595**|
|---|---|---|
## **4. CHARITABLE ACTIVITIES COSTS**
|**Support costs**
**(see note 5)**
**£**
Property Management
413,978
Governance Costs
2,175
**416,153**|**Totals**
**2022**
**£**
413,978
2,175
**416,153**|
|---|---|
**WESSMAPS HOUSING TRUST NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2022**
**Page 11**
## **5. SUPPORT COSTS**
|**Management**
**£**
Property Management
413,978
Governance Costs
-
**413,978**
**6. NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
Depreciation–owned assets|**Other**
**£**
-
-
**-**|**Governance**
**Costs**
**£**
-
2,175
**2,175**
**2022**
**£**
**8,903**|**Totals**
**£**
413,978
2,175
**416,153**
**2021**
**£**
**8,487**|
|---|---|---|---|
## **7. TRUSTEES’ REMUNERATION AND BENEFITS**
There were no trustees’ remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.
## **Trustees Expenses**
There were no trustees’ expenses paid for the year-ended 31 March 2022, the same for the year ended 31 March 2021.
## **8. STAFFING**
The average monthly number of employees during the year was as follows:
**2022 2021 No. No.** Administration 13 11
**WESSMAPS HOUSING TRUST NOTES TO THE FINANCIAL STATEMENTS – CONTINUED FOR THE YEAR ENDED 31 MARCH 2022**
**Page 12**
## **9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|**Unrestricted**
**Fund**
**£**
**INCOME AND ENDOWMENTS FROM**
**Charitable activities**
Property Management
-
Investment Income
-
TOTAL
**-**
**EXPENDITURE ON**
**Charitable activities**
Property Management
-
Other trading activities
-
Interest payable
-
Governance Costs
-
TOTAL
**-**
NET INCOME/(EXPENDITURE)
**-**
**RECONCILIATION OF FUNDS**
Total Funds brought forward
-
**TOTAL FUNDS CARRIED FORWARD**
**-**
**10. TANGIBLE FIXED ASSETS**
**Motor**
**Vehicles**
**£**
COST
**At 1 April 2021**
24,500
Additions
-
**At 31 March 2022**
**24,500**
DEPRECIATION
At 1 April 2021
3,388
Charge for year
4,900
**At 31 March 2022**
**8,288**
NET BOOK VALUE
**At 31 March 2022**
**16,212**
**At 31 MARCH 2021**
**21,112**|**Restricted**
**Fund**
**£**
370,595
62
**370,657**
283,755
24,170
-
3,881
**311,806**
**58,851**
67,107
**125,958**
**Computer**
**Equipment**
**£**
17,058
2,956
**20,014**
7,423
4,003
**11,426**
**8,588**
**9,635**|**Total**
**Funds**
**£**
370,595
62
**370,657**
283,755
24,170
-
3,881
**311,806**
**58,851**
67,107
**125,958**
**Total**
**£**
41,558
2,956
**44,514**
10,811
8,903
**19,714**
**24,800**
**30,747**|
|---|---|---|
**WESSMAPS HOUSING TRUST NOTES TO THE FINANCIAL STATEMENTS – CONTINUED FOR THE YEAR ENDED 31 MARCH 2022**
**Page 13**
**----- Start of picture text -----**
11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£ £
Trade Debtors 240,180 179,773
Other Debtors 149,105 40,456
389,285 220,229
12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£ £
Trade Creditors 2,710 25,056
Social Security and other taxes 7,053 11,419
Other Creditors 327,782 270,696
Accrued expenses 4,600 2,300
342,145 286,633
**----- End of picture text -----**
**WESSMAPS HOUSING TRUST NOTES TO THE FINANCIAL STATEMENTS – CONTINUED FOR THE YEAR ENDED 31 MARCH 2022**
**Page 14**
## **13. MOVEMENT OF FUNDS**
|**At 1.4.21**
**£**
Un Restricted funds
-
Restricted funds
125,958
**TOTAL FUNDS**
**125,958**
**Net movement in funds, included in the above are as follows:**
**Incoming**
**Resources**
**£**
Un Restricted funds
-
Restricted funds
535,667
**TOTAL FUNDS**
**535,667**
**Comparatives for movement in funds**
**At 1.4.20**
**£**
Un Restricted funds
-
Restricted funds
67,107
TOTAL FUNDS
**67,107**
**Comparative net movement in funds, included in the above are as follows:**
**Incoming**
**Resources**
**£**
Restricted funds
-
Restricted funds
370,657
TOTAL FUNDS
**370,657**|**Net**
**movement**
**in funds**
**£**
-
76,109
**76,109**
**Resources**
**Expended**
**£**
-
(459,558)
**(459,558)**
**Movement**
**in funds**
**£**
-
58,851
**58,851**
**Resources**
**Expended**
**£**
-
(311,806)
**(311,806)**|**At 31.3.22**
**£**
-
202,067
**202,067**
**Movement**
**in funds**
**£**
-
76,109
**76,109**
**At 31.3.21**
**£**
-
125,958
**125,958**
**Movement**
**in funds**
**£**
-
58,851
**58,851**|
|---|---|---|
## **14. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 March 2022.
**WESSMAPS HOUSING TRUST DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022**
**Page 15**
**----- Start of picture text -----**
2022 2021
£ £
INCOME AND ENDOWMENTS
Investment income
Bank interest 533 62
Charitable activities
Management Fees 494,623 358,358
-
JRS Grants/Employment Allowance 37,968
Property management Fees 3,609 2,237
Other Income - 10,000
Total Incoming resources 535,667 370,657
EXPENDITURE
Other trading activities
Void Rent 43,405 24,170
- -
Service Charge costs
43,405 24,170
Support Costs
Management
Wages 318,413 221,170
Social Security 26,195 13,353
Pensions 9,691 1,750
Rent 9,477 8,498
Insurance 260 1,503
Telephone 2,796 2,012
Postage and stationery 2,060 1,735
Sundries 1,079 -
Computer and software 6,071 4,293
Rates and water 802 667
Professional Fees 4,639 7,119
Premises Expenses 286 -
Bank Charges 165 113
Depreciation of tangible assets 8,903 8,487
Travel and subsistence 10,643 4,162
Motor costs 12,498 8,893
- -
Advertising
Other
- -
Interest payable
Governance Costs
Accountancy and legal fees 2,175 3,881
416,153 287,636
Total Resources expended 459,558 311,806
Net (expenditure)Income 76,109 58,851
**----- End of picture text -----**