HOUSING TRUST
Selby and District Housing Trust
(A company limited by guarantee)
Report and Flnanclal Statements
For the Year Ended 31 March 2021
Charlty Number 1157240
Company Number 08548526

Selby and Dlstrlct Housing Trust
(A company limited by guarantee)
Flnanclal Statements
For tho Year Ended 31 March 2021
Contents
Page
Report of the Board
Independent Examlners Report
Statement of Financlal Activitles
10
Balance Sheet
Notes foming part of th8 financlal statements
12- 17
SELBY & 01STRICT HOUSING TRusr
2020121

Selby and Dlstrlct Housing Trust
Report of thè Board for the year ended 31 March 2021
The Board presents its dir8Ctors' report and financial statements, independ8ntly examin8d, for
the year ended 31 March 2021.
Roforenca and Adrnlnlstratlve Inforniatlon
Charfty Name..
Selby and District Housing Trust
Charity registration number:
1157240
Company registration number..
08548526
R8gistered Office and
operational address..
The CSvic Centre,
Doncaster Road,
Selby
Y08 9Fr
Board Member8
Councillor John Maurice Mackman
Robert John Chambers
Director and Chair {Councll appointed Trustee)
Dlrector and Vice Chalr {Ordin8ry Trustee)
Councillor Stephanle Duckett
Mrs Gillian Ivey
Micha81 Richard W8rritt
Alan Catterick
Vacancy
Dlrector (Council appointed Trustee)
Director (Council appointed Trustee)
Director (Ordinary Trustee)
Dlrector (Ordinary Trustee)
Secretary and Dlractor
Sarah Thompson
(N.B. Sarah Thompson resigned as Company Secretary on 3191 May 2021. Anna-marie
MGGlanagh8y was appointed Company Se¢r8tary in June 20211
Managlng Dlrector
Stuart Robinson
FInan￿ Dlrector
Rob Parkes
Houslng Managgr
Mark Palmer
Independent Examlners- Saffery Champness LLP, Mitr8 House, North Park Road,
Ha￿Ogate HG15RX
Bankers - Barclays Bank plc. of Market Place, Selby, Y08 4NX
Sollcltors - During 2020121 Bevan Brlttan LLP have provided independent advice to the Trust
on a case-by-Gase basis.
SELBY & DISTRICT HOUSING TRUST
2020121

Structure. Governance and Managemant
Governin
Document
Selby District Housing Trust I'the Trust'> is a publ1¢ benefit entity limit8d by guarantee,
incorporated on 29 May 2013 and règistered as a Charity on 29 May 2014. The trust is
incorporated in the UK and registered in England and Wales.
The company was established under a Memorandum of Association which established the
objects and powers of the charitable company and is govemed under its Articles of
Assoclalion. In the èvent of the company b8ing wound up members, and ex-membèrs within
twelve months of ceasing to be members, are r8quired to contribute an amount not èxceeding
£10.
Recruitment and A
ointment of the Board
The directors of the company ar8 also Charity trustees for the purposes of Charity law and
under the Company's Artlcles are known as members of the Board. There are seven truste8
positions, three Council Trustees, nominated by Selby District Council and four individuals
appointed or elected as Ordinary Trustees. The Board has a vacancy and this was carried
throughout 2020121 as there were no applications put forward for the appointment of th8 4th
Ordinary Trustee.
Under th8 requirements of the Memorandum and Articles of Assoclalion the Council Trustees
shall be appolnted by Selby District Council lo serve for such perlod of office as shall be
confirmed by the Council. One Ordinary Trustee must r8tir8 al each annual General Meeting.
the longest in offi'ce retiring first and the choice between any of equal service being made by
drawlng lots. Each retlring Ordinary Trustee shall be eligib18 for reappointment at the Annual
General Meeting but if they are not r8appolnted the retiring Ordinary Trusl8e shall vacate
office at the conclusion of the me8ting.
All rnembers of the Board giv8 thair time voluntarily and r8c8ived no benefits from the Charity.
Any expenses reclaimed from the Charlly are sel out in note 5 to the accounts.
uction and Trainl
New Trustees are givan an induction session with Trust Officers. This session provides the
Trustee with expectations of them in the role as well as governance arrangements and the
latest position on Current schemes. New Trustees are provlded with a welcome pack that
includes the ArtiGles of Association and the Charity Commission Guidanc6 8ntitled 'The
Essential Trustee,.
Risk Mana
ment
The Trust has an organisational risk register which is reviewed by the Finance and
Govemance Committee each lime it meets. Systems and procedures have been established
to mitigat8 the risks the Charity faces and the risk register is UFKlaled on a six-monthly basis.
Key risks identified in the register are around access to revenue funding, health and safety
and capacity and resilience of the Trust. All have risk mitigationlcontrols in plaGe.
anisational Structure
The Selby and District Housing Twst has a Board of Trustees of up to sev8n members who
meet quartedy and are responsible for the strategic direction and policy of the Charity. At
present the Board has 6 members from a variety of professional backgrounds relevant to the
work of the Charity. The Board is supported by a Managing Director, a Financial Director and
the Corrpany Secretary. These posts are filled by volunte8rs. Selby District Council has
SELBY & DISTRICT HOUSING TRUST
2020121

provided funding for the appointment of a part-tim8 Housing Manager who also supports the
Board.
The Housing Manager requests aulhorlty to deliver e18ments of the build projects as
necessary through r8gular report5 to the Board. Urgent it8ms for which no delegated
authority exists ara progressed via ele¢troni¢ mail to Board members as perniitted under the
Articles of Association.
Related Partl8S
In so far as it is ¢omp18m8ntary to the Charity's objects, the Charity is guided by both local
and national policy. At a local level S81by District Council has off8r8d funding and has
donated services as well as allowing its staff to provid8 sèNices under their volunteer
programme al no cost to the Trust.
Our Alms and obloctlv•s
es and Aims
Our Charity's purposes as set out in the objects contained in the company's memorandum of
association are to cary on for the benefit of the Community lon a not-for-profit basls)..
a. The provision and management of housing, social houslng, host81s and other
r8sidential accommodation to people in necessitous circumstances;
b. The provision of associated amenities, facilities and services for those housed by the
Charity or for the relief of aged, disabled (whether physl¢ally or mentally) or chronlcally
sick people;
and on 8 basis which is associated wlth or Incidental to obJectiV88 a and b
c. The provision of recreation or other leisur8 facllltles in the Interest of social welfare.,
d. Th8 relief of poverty.,
e. The advancement of education, trainlng or retraining, particularly among unemployed
paople and providing unemployed people with work experience;
f. Th8 maintenance, improvement or provlsion of publiG amenities for the publlc benefit
in the int8r8sls of regeneration in areas of social and economic deprivatlon;
g. Any oth8r charitable object that can be carried out from time to time by 8 company
registered as a provider of soclal housing with th8 Regulator.
The alms of our Charity are to provlde housing at 80% of market rent to those meeting the
crit8ria set out in a. or b. above.
rin
our wor
IIv8rs our aims
During th8 course of 2020121 the Trust developed a 30 year Finance Plan. We review our
govemance arrangements each year, and we have refe￿ed to the guidance contain8d in the
Charity Commission's general guidance on public benefit when we review our alms,
objectives and in planning future activities.
The focus of our w￿rk
Our main obj8Ctives for the y8ar were to continue to identify, in partnership with Selby District
Council, property that could be used to enable us lo meet our Charitable aims.
The Trust's original five year plan was to provide 56 homes which w8 can offer at 800h of the
prevailing market rent to thos8 who meet our tenant criteria
SELBY & DISTRICT HOUSING TRUST
2020121

In 2014115 we acquired Iwo separate sites in Tadcaster which provlde 5 homes towards this
target. During 2017118 work began on a further 2 sites, one in Selby and one in Riccall. Our
Riccall scheme of five houses, was handed over in 2018. Also in 2018. we agreed the
purchase of 12 s106 homes in Ullesk81f, our first s106 purchase. Six homes were handed
over lo us In lale 2018, and the remaining six came across in April 2019, all were let
imm8diately. In addition, th8 Trusl t(￿k handover of a furth8r 12 new build houses in Selby
town in the first half of 2019120. At the end of 2020121 the Trust owned 34 hornes.
As with many organisations 2020121 has been a challenging year, with development
opporlunities generally slowing down or being delayed. As such tha Trusl has not added to its
portfolio over the past y8ar. The overall Housing Development Programme has slowed due lo
a number of factors mainly around planning and uncertainty around costs. In addrtion,
although the Trust has been in discussion with a number of developers regarding purchas8 of
further s106 hom8S. the number of tangible opportunities coming forward over the year has
been minimal. The Trust has also been exploring the potentlal of buylng properties on th8
open market.
While the Trust is being developed there ar8 no paid employees. Selby District Council
employ a part time Housing Manager and this Is provided to the Trust as a donated service.
(The equivalent costs are included in the Accounts as a donated service). The Housing
Manager's ro181s to support the Trust to develop and grow its business and, working closely
with the Council, enSu￿ng our properties are managed well giving excellent customer service.
The Trust's hom95 are managed and maintained by Selby District Council through a Service
Level Agreement.
In addition, the Tnjst pay Selby District Councll for 180 hours per annum financlal
administration support.
Other managerial and administrative $8rvic8s are being provided on a volunteer basis by staff
with the relevant skills and qualifications. Staff are sometimes, bul not 8x¢lusively employed
by Selby District Council. Thls is estimated to be approximately 266 hours per annum in total
wlth the value equal to £5,300 (this is includ8d in the Accounts as a donated service).
How our actlvltles doliver publlc bonofit
Our maln activities and who we ty to help ar8 described in our purposes and alms. All our
charitable activities focus on the housing market and are undertaken to further our charitabl8
purposes for th8 public benefit.
Who use
an
bènefi
d from
ur services?
At the end of 2020121 the Trust provided 34 affordable homes for rent to the residents of
Selby District. Occupation has been good wth only four propert185 coming void in the year
and tenants have been satisfied wtth the hornes provided by Ihe Trust.
The main area of charitable activity and the achievements that flowed from our work during
2020121 are related lo the provision of affordable homes for rent in Selby District.
The Trust continued to operate as a Landlord during 2020121, providing 34 homes in the
District. Th8 Trust wntinued to work dosely with Selby & District Council to ensure that vlable
development schemes are brought forward and that 8 pipeline of land and development
opportunities are identified to ensure the Trust Can meet its targets. In addition, having
seGured our first s106 scheme, we are keèn lo build on this success and identify further
opportunities to work In partnership with wivate developers to secure additional homes across
the District.
SELBY & DISTRicf HOUSING TRUST
2020121

Financlal Review
With continuing limlted resources the Charity, with the aid of sound financial appraisal and the
knowledge and support of both its donated staff and volunteers generated a positive outcome
for the perlod. We have Suc￿ssfUllY managed the 34 prop8rties with minimal void loss. Only
four properties became void in the year with our occupatlon rate at 98.70/0 against a target of
97.5 %.Voids took slightly longer to turn around than target, but this was mainly due to the
impact of COVID-19 on serviGe delivery and the fact that two of these properties were vold
over the Christmas period. Our rent arrears remain low at 4.67%, which is below our target of
However, due to the complexities experienced bringing forward small developm8nts, capital
Spend plans have been delayed in year. A careful review of future plans has been required
and work is taking place in partnershlp with Selby District Council to review the viability and
various delivery options available to The Trust.
l Fundin
Sour
There are currently two principal funding sources for the Charity. The firs115 8 grant of up to
£30,000 per annum for five years from Selby District Council. Selby District Council has also
funded the Trust by offering loans and grants where applicable, to acquire and develop
suitable property for the Trust. The loans ar8 repayable ovèr a period of 30+ years and incur
interesl charges abov8 the prevailing Public Works Loan Board interest rale at the time of
signing the loan.
Inv8
Aside frorn retaining a modest amount In the General Reserve 8ach year mosl of the Charlty's
funds are lo be spent in the short term so currently there are no funds for long temi
investment. The Board has declded that repaying the loans advanced by Selby District
Councll at present takes priority over buildlng up reserves to inv88t 8Xtemally.
There ar8 no restricted funds at 3111 March 2021 (Nil at 3181 March 2020). unrestricted
fund5 musl b8 used to further the charitable purpos8 of the Trust. Reserves as at 31 st March
2020 wer8 £473,295 reducing to £469,255 as at 31 st March 2021.
After making appropriate enquiries, the trustees have reasonable expedatlon that the
company has adequate resources to continue operations for at least 12 months frorn th8 date
of signing. The Trust remains reliant on the Council for Services and ther8 are no indications
that the Council intends to remove or restrict th8 access lo these services in this period. For
this reason, they continue to adopt the going concern basis in preparing the financial
statements. Further details r8garding the adoption of the going concern basis can be found In
the accounting policies.
Plans for Future Perlods
The Trust is currently urKlertaking a review of its activities as a result of the Council's recent
decision to raview its own housing developmeni plans. This follows a change in the operating
environment du8 to Covid-19 and the Local Government re-organisation across North
Yorkshlre.
SELBY & DISTRI￿ HOUSING TRUST
2020121

s￿￿ernent of trustees, responsibilities
The trustees {who are also directors of Selby & District Housing Trust for the purposes of
company law) are responsible for prèparing the Trustees, Report and the financial statements
in accordance with applicable law and United Kingdom Accounting Standards {United
Kingdom Generally Accepted Accounting Practice).
Cofflpany law requires the trustees to prepare financial stalements for each financial year
which giv8 a true and fair view of the state of affairs of the charitable company and of the
Incoming resources and application of resources, including the income and expenditure, of the
charilable company for that period. In preparing these financial statements, the trustees are
required to:
select sult8ble accounting policles and then apply thèm ¢onsistently-
observe th8 methods and principles in tha Charities SORP (FRS 1021.,
make judgements and 8Stimales that are reasonable and prudent.,
state whether applicable accounting standards hav8 béan followed, subject to any
material departures disclosed and explained in the financial statements; and
prepare th8 financial statements on the going Concern basis unless it is inappropriate
to presume that the charity will continu8 In business.
Th8 trustees are responsible for keeplng proper accounting records that disclose with
reasonable accuracy at any time the financlal position of the charitable company and 8nable
them lo ensure that the financial statements comply with the Companies Act 2006. They are
also r8sponsible for safeguarding the assets of the charitab18 company and hence for taking
reasonable steps for the prevention and detection of fraud and other irr8gularltles.
Memb8rs of the Board
Members of the Board, who are directors for the purpos8 of company law and trustees for tha
purpos8 of Charity law, who served during the year and up to the date of this report are set
out on pag8 2.
In accordance with company law, as the company's dlrèctors, we certify that..
so far as we arè aware. there is no r81evant audit information of which the company's
independent examiners are unaware. and
as the directors of the company we have taken all the steps that we ought to have
tak8n in order lo make ourselves awa￿ of any re18vant audit infomiation and to
establish th8t the Charlty's independent examiners are aware of that information.
Independont Examlnern
Saffery Champness were appointed as the charit8ble company's independent examiners in
2021.
This report has been prepared in accordance with the Statement of Recommend8d Practice
applicable to charities preparing th8ir accounts in accordance AGcounting and Reporting by
Charitles.. Stat6ment of Recommended Practi￿ IFRS102)12019) and in accordance with the
special provisions of Part 15 of the Companles Act 2006 r81ating io small entities.
Approved by the Board on 8th November 2021 and signed on its bèhalf by:
Councillor John Mackman, Chalr
SELBY & DISTRICT HOUSING TRUST
2020121

Independent examlnorfs report to the trustees of Selby and District Houslng Trust {Ihe
Company.)
I rewl to the charity trustees on my examination of the accounts of the Company for the year
ended 31 March 2021.
Respectlve responslbllltles of trustees and oxamlnor
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
requir8ments 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 18 of th8 2006 Act and ar8 eligible for independent examination, I report in resped of my
examination of your charity's accounts as Garried out under section 145 of the Charities Act
2011 ('th8 2011 Act'l. In carrying out my examinatlon I have followed the Directions given by
Ihe Charity Commission under s8ciion 145{51 (b) of the 2011 Act.
Bas18 of Indapondont oxamlner'• rnport
My examination was carried out In accordance with the general Directions glv8n by the Charity
Commisslon. An examination includes a review of the accounting records kept by the tharity
and a Comparison of the accounts presented with those racords. It also includes consideration
of any unusual it8m8 or disclosures in the accounts, and seeking explanatlons from you as
trustees ¢onc8ming any such matters. The procedures undertaken do not provide all the
evidence that would be required in an audlt and consequently no opinion Is given as to whether
the accounts present a 'true and falr view, and the report is Ilmited to those matters set oul In
the statement below.
Indopondont oxamlner's statement
I have completed my examlnation. I confirm thal no matters have come to my attention in
connection with the examination giving me caus8 to believ8=
accounting records were not kept in respect of ihe Company as required by section 386
of the 2006 Act", or
the accounts do not accord wlth those rècords,. or
the accounts do not comply with the accounting requirements of section 396 of lh8
2006 Act other than any requirement that the accounts give a 'true and fair view, which
is not a matter considered as part of an independent 8xamination', or
the accounts have not been prepared in accordan￿ wlth the methods and principles
of the Statement of Recommended Practice for accountlng and reportlng by charities
applicable to ch8rilles preparing their accounts in accordance with the Financial
R8POrting Standard applicable in the UK and Republic of Ireland (FRS 1021.
I have no ¢on¢ems and have Come across no other matt8rs in connedion with the
examination to which attention should be drawn in this report in order to enable a proper
understanding of the accounts to be reached.
Signed:
SELBY & DISTRICT HOUSING TRUST
2020121

1* 4plts
Sally Appleton FCA
Saff8ry Champness LLP
Mltre House
North Park Road
Harrogate
HG15RX
Date: 21 December 2021
SELBY & DISTRICT HOUSING TRUST
2020121

Selby and District Houslng Trust
Statomont of Flnanclal Activitles (Includlng Income & Expendlture Account) for
the year ended 31 March 2021
ilnre8tr1ct•J
Fund8
2019120
Total
Fund8
2014QO
Unrgstrlcled
Fund$
2oIY21
Totsl
RMlrict•d
Funds
2020R1 2021￿1
R••tricled
2019r20
In¢omlng Resour￿¥
Ineoming Fle80urces fr
1207,6601 Rent Incorne
Other IneA)ming Resourc8S
1301,0961 Grants
122,7351 Donated Servtes
Net Proce8ds Irc4n Asset held lor
Sale
1207,6601
1219.8581
1219,8581
1301,0961
122,7351
128,3411
128,3411
1531,4911
1531,4911 Total Incomirrfj R880urces
1248,1991
1248,1991
Re8ourc•• Expendvd
Charitable Activities
211,936
Property Management
4.249 Govemance Co618
22.735 Other R850urces Expended
238,920 Total Resources E4Dwded
211,936
4,249
22,735
222,215
1,683
28,341
222,215
1.683
28,341
238,￿)
252,239
252,239
292,S71
292,571
Nel Ilncomlnglloulgolng Rosources
Qlher R•cowl4ed Galn8lLou••
Gains on revaluation ol Fixed
A858ts
1292,5711
1292,5711 Nel Movement in Funds
12
R•conclllalion d Fund•
1160,7241 Toial Funds Brougm Fo￿ard
1473,295) Totfjl Fundg Carrled Fonvwd
1180,7241
1473395)
1473,2951
1469,255)
1473,2951
{469,2551
The statoment of financlal acllvltlos includes all gains and lovJos In th• year. All
incomlng resources and resources expended darlvo from continulng actlvities.
SELBY & DISTRicf HOUSING TRUST
io
2020121

Selby and District Housing Trust
Balance Sheet as at 31 March 2021
2019rdo
Note
2020r21
FLx•d A¥s8ts
3293,012 Tangble As8ets
3,251.963
3293,012 Totsl FvA8d Assets
3,251,963
Curr•nl Aoset$
75,717 Debbis
211,784 Cath albank and wi Iwnd
80,811
148,697
287,501 Tottl CurrenlAss8ts
9,508
Cumnt LiibllllleB
1289,1031 Credfors due witrn on8 year
1274,2401
11,6021 NelCurrentkne￿(L￿￿ll1eSI
144.7321
3,291,410 Totsl Assets ￿8S Current LllqblMe8
3,207,fJ1
Long Tenn Ll•bllltlo•
12,818,1 ISI LDan8
10
12,737,976)
12,818,115) TOÈI Long Tarm LkqblMe8
12,737,97ei
473,295 N•t
469,255
Unre￿rICt•d Fundi
1109,1391 fieval￿10n Funds
1364,1561 G&ngrd Fund5
1109,1391
1360,1161
14732951 Totsl Unre8ithd Funds
1469.2551
1473,2951 Tolol Fund•
1469,2551
For the p8ri0d ending 3111 March 2021 the company was entitled to eX8mption from Audit
under section 477 of the Companies Act 2006 relating to small companies.
The members have not ￿qUIred the company lo obtaln an audit of its accounts for the
year in question, in accordance with section 476. and
The directors acknowledge their responsibilities for complying with the requirements of
the Act wilh respect to accounting records and the preparation of accounts.
These accounts ar8 prepared in accordanc8 wlih the provisions applicable to the companies
subject to the small companies, regime.
Approved by th8 Board on 8th November 2021 and signed on its behalf by..
Councillor John Mackman. Chair
Rob Parkes, Finance Director
Trustee
SELBY & DISTRICT HOUSING TRUST
Co number 08548526
li
2020121

Notes forming part of the Flnancial Statements for the year ended 31 March 2021
1. A¢¢ountlng Pollcles
The principal accounting poli¢les ar8 summarised below. Thé accounting policies have b8en
applied consistently throughout the year.
(a) Ba818 of accountlng
The financial statements have been pr8pared under the historical cost convention, 8S
modlfled by the inclusion of fixed asset investments at market value, and in
accordance wtth the Companies Act 2006 and Accounting and Reporting by Charitles,.
Statement of R8commended Practice {FRS 1021 issued in 2019.
The use of the going concern basis of accounting Is appropriate because there are no
material uncertainties r81at8d to events or Conditions that may cast significant doubt on
the ability of the Trust to continue as 8 golng ¢on¢em.
(b) Fund accountlng
Unre5triGted funds are available for use at the discretion of the tW8tees in furtherance
of the general objectlves of the Charity.
Designated funds are unr8Stricted funds eamarked by the Board for particular
purposes.
Reslricled funds are subject lo restrictions on their expendrtur8 imposed by th8 donor
or through the temis of an app8al.
{c) Incomlng resources
All incomlng r8sources are included In the statement of financial activlties wh8n th8 Charity is
entitled lo, and virtually certaln to receive, th8 income and the amount can be quantified with
reasonable accuracy. The following polici8s are applied to particular categories of Income..
Voluntary income is received by way of grants, donations and gifts and is included in
full in the Statement of Financial Activilles when receivable. Grants, where entitlement
is not condltion81 on thè delivery of a specific performance by the Charity, are
recognised when the Charity becomes unconditionally entitled to th8 grant.
Donated s8rvices and facilities ar8 included at the value to the Charity where this can
be quantified. This includes the seNIc8s of Senior Management and Company
Secrelary. The Trust from time to time may call on the services of other general
volunteers and the value of these services Is not included in the accounts.
Investment income is includ8d when receivable.
Incorning resources from granls, wh8re related to perfomiance and sp8cffic
delivèrables, are accounted for as the Charity eams the right to consideration by its
performaneA.
Id) Resources expended
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes
VAT which cannot be recovared. and is reported as part of the expenditure to which it relates..
Cosls of generating funds comprise the costs associated with attractlng voluntary
Incom8 and the costs of tradlng for fundraising purposes.
Charitable expenditure comprises those costs incurred by th8 Charity in the delivery of
its a¢tivlties and services for its beneficiaries. It includes both costs that can be
allocat8d directly to such activities and those costs of an indirect natu￿ necessary to
support th8m.
SELBY & 015TRicf HOUSING TRUST
12
2020121

Governance costs include those costs associated with m8eting the Gonstitutional and
statutory requirements of the Charity and include the indep8nd8nt examlnation fee5
and costs linked to the strategic management of the Charity.
All costs are allocated belween the expenditure catégories of the Statement of
Financial Accounts on a basis designed to reflect the use of the resource. Costs
relating to a particular activity are allocated directly. others are apportioned on an
appropriate basis e.g. estimated usage as set out in Note 3.
(e) Fixed assets
Fixed assets are initially measured at cost, which includes purchase price and costs
attributable to bringing the asset into use. They ar8 then valued at fair value, detennin8d as
the amounl that would be paid for it in its existing use as social housing, less accumulated
depreciation. Depreciation is provid8d at rates calculated to write off the cost of each asset
OV8r Its expected useful life, which in all cases is estimated at 60 years. Depreclalion is
charged from the first year the asset is brought into use. Revaluation of buildings are
undertakan at least five yearly but may be done more often if there Is evidenc8 of rapid
change5 in propety values. Impaimient reviews are carried out as and when evidence comes
to lighl that that the recoverable amount of a functional fixed asset is below its net book value
du8 to damage, obsol8SC8nce, or other relevant factors.
lfj Flnanclal Instruments
The trust only has financial assets and financial Ilabilities of a kind that quallfy as basic
financial Instrum8nls. Basic finan¢lal instrurnenls ar8 initl8lly r8cognised at transaction value
and subsequently measured at their settlement value with the exception of the Selby District
Loans which are subsequently measured at arnortised cost using the effective interest
method.
2. Totsl Incomlng Rosourco8
Unr•strlct•d Rgstrlcted
Fund8
Fund¥
Total
2019120
Unrostrlct•d Restrlcted
Fund•
Fund¥
Total
2020121
Grant from Selby Dl$trt¢t
1301.0961 Councll
122,7351 Donated Servlce8
1207.6601 Rent & Service Charges
(301,096)
(22,7351
{207,660}
128,3411
(219,8581
{28,3411
1219,8581
{531,491 }
{531,491)
1248,1991
{248,1991
The donated seTvices are for the part-time housing manager and the v81ue of the donated
services for the Managing Director, Finance Director and Company Secretary. The related
costs can be seen in note 3. Thera are no unfulfilled conditions attached.
3. Total Resources Expended
8asi5 of
Allocatlon
Other
Resourcès
Charltable
Actlvltles
Govornance
Total
2020121
Cosls dlrectly allocatgd to aGtlvltle8
Trust Administration Expenses
Direct
Property Development
Direct
Property Management
Direct
11,776
119,723
90,716
1.683
13,459
119,723
119,057
28,341
28,341
222,215
1.683
252,239
SELBY & DISTRICT HOUSING TRUST
13
2020121

Basis of
Oth•r
Charltable Governanee
AllorAtion R09)urces Activitlgs
Totsl
2019120
Co*s dlroctly alloGatod to actlvltles
Trust Adminislralion Expenses
Direcl
Property De￿loPMent
Direct
Property Management
Direct
8,078
133,602
70.256
3,763
11,841
133,602
93,477
22,735
22,735
211,936
4,249
238,920
Other resources r8fers to the donated servlces of the Housing Manager, and for 2020121 the
donated services of the Managing Dlredor, Finance Dlrector and Company Secretary.
4. Staff Costs and Numbers
The Trust employs no staff directly. The Trust is provided fijnding by Selby Dlstrfct Council to
employ a part-time Housing Manager. In addition, the Trust pays SDC for financial admin
support. The Trust's properties are managed by SDC through a service level agreement.
Other functions, e.g. Managerial Services, ar8 provided by volunteers.
5. Trustee R•munaratlon
No members of the Board received any remuneration during the year. No travel costs were
reimbursed during 2020121 (2019-20 - £75.IJO}.
No trustee or other person related to the Charity had any personal interest in any contract or
transaction entered into by the Charity during the y88r (201 ￿20 - Nil).
6. Taxatlon
As a Charity, S8lby and Distrlct Houslng Trust is exempt from tax on Income and gains falling
within section 505 of the Taxes Act 1988 or s256 of the Taxation of Chargeable Gains Act
1992 to the extent that these are applied to its charitable objects. No tax charges have arisen
in the Charity.
SELBY & DISTRICT HOUSING TRusr
14
2020121

7. Tanglbla Flxed Assets
Freehold Ltrasehold
Asset8
Land &
Land &
undor
Bulldlngs
Bulldlngs Construcllon
Total
Cost or Valuatlon
At 1 April 2020
Additions
Transfers
Revaluation Increase recognised in
Revaluation Reserve
At 31 March 2021
3,354.150
15,657
239,220
3,593.370
15.657
3,369.807
239.220
3 609,027
Accumulat•d D•pr•clatlon
At 1 April 2020
Charge for the Year
Impalrment
Wrlte out A¢¢ Dep'n on Revaluation
{296.0861
152,434)
14,2721
14,2721
{300,3581
(￿.708)
Al 31 March 2021
(348,520)
(8.544)
(357,064) .
Not Book Valu•
At 31 March 2020
At 31 March 2021
3.058,064
3.021,287
234,948
230,676
3,293.012
3,251,983
An independent, professional valuatlon using the Existing Use Value - Social Housing
methodology w85 last completed on all properties In July 2019, and it was calculated as at
31st March 2019.
. Current Assets
201W20
2020121
Debtor
70,094 Selby District Council
5,623 Prepayments 8nd accrued Ir￿oMe
211,784 Cash al bank and in hand
72,580
8,231
148,697
287,501 Total
229,508
9. Credltors: Amunts Falllng Due wlthln One Year
2019120
Ré-stated
2020121
Cr•dltor
1193,3741 Selby District Council
{58.5171 Loans (Selby District Council)
(37.2121 Olher Creditors
{188,001)
155.241)
130.998)
(289,103) Total
(274,240)
Prior year numbers a￿ re-stated to split out the amount due within one year and due after
more than one y8ar.
SELBY & DISTRICT HOUSING TRUST
15
2020121

10. Creditors: Amounts Falllng Duo after morn than One Yèar
2019120
Re-statsd
2020121
Credltor
{2,818,1151 Loans
12,737.9761
{2,818,115) Total
(2,737.9761
The flxed assets are primarily being funded by loans from Sèlby District Council. Existing
loans are rèpayable over 30 years. All of the loans ar8 secured against the title of the
properties. which they wer8 Used to fund.
11. Analysls ol Net Assets between Fund8
Gon•ral Dodgnat•d Rastrlctod 31 March
Funds
Fund•
Fund8
2020121
T8rvJible Flxed Assets
Currènt Assets
Current Llabilitles
LOr￿Te￿n Ll8bllltles
3,251,963
229,508
{274,240}
12.737.976)
3,251.963
229,508
1274.2401
12,737,976)
Net A$s•ls al 31 March 2021
469.255
469,255
Gen•rnl Dodgnatsd R•*rfct•d 31 March
Fund•
Fund•
Funds
2019120
TaThJlble Flxed A88ets
CuThenl Assets
Current Liabllilies
Long-Tem Liabllllios
Net Ass81s at 31 March 2020
3.293,012
287,501
1289,1031
12,818.1151
473,295
3,293.012
287,501
1289.103)
12.818,1151
473,295
12. Movements In Fund8
Incomlng Outgolng Trnnthrn
Rewurc&8 R•wurco$
GaSn8 &
Loss0¥
31 March
2021
2020
Unrestrlcted Funds
Revaluation Funds
Ge￿ra1 Fun
{109.1391
{364, 1561 1248,1991
1109, 1391
1360.1161
252,239
Total Unrestricted Funds
{473,2951 1248,199}
252,239
1469,2551
Total Fund5
1473,2951 1248.199}
252.239
(469,255)
For further details of the revaluation see note 7.
SEL8Y& DISTRICT HOUSING TRUST
16
2020121

13. Remunèration for the Independent Examlnatlon
The remuneration of £4,680 related solely to the Independent Examination with no additional
work undertaken.
14. Related Party Transactlons
Selby District Council (SDCI nominates three of the seven Trustees positions of the Trusl. It
provides funding and has donated services at no cost. It also provides paid-for servic8s under
a service level agreement.
Related Party transactions wilh Selby District Council were as follows..
Transactlons with SDC
2019120 2020121
Income
Grants
Donated Servlces
Total Income
1301,0961
122,7351 (26,2631
(323,831) (26,263
Expenditure
Trust Administratlon expenses
Property Development
Property Management
Totsl expendlture
5,556
7,115
132,103 119,723
31.843
49.632
169,502 176,470
Amount r8ceivable from SDC at 31 March
Amount payable to SDC at 31 March
70,094
72.580
13.070.006112,981,2181
SELBY & DISTRicf HOUSING TRUST
17
2020/21