|||||Page||
|---|---|---|---|---|---|
|Reference and Administrative||Details||||
|Trustees' Report|||2|to|3|
|Statement ofTrustees'|Responsibilities|||||
|Report ofthe Independent<br>Auditors|||5|to|8|
|Statement ofFinancial|Activities|||||
|Statement ofFinancial|Position|||10||
|Statement ofCash Flows||||||
|Notes to the Statement|ofCash|Flows||12||
|Notes to the Financial|Statements||13|to|18|
|Detailed Statement of|Financial|Activities||||





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||||||||31.5.23|31.5.22|
|---|---|---|---|---|---|---|---|---|
||||||Unrestricted|Restricted|Total|Total|
||||||fund|fund|funds|funds|
|||||Notes||||f|
|INCOME AND ENDOWMENTS FROM|||||||||
|Charitable<br>activities||||3|||||
|Income from charitable|activities||||5,455,216||5,455,216|7,036,965|
|Other income|||||4,526||4,526|190|
|Total|||||5,459,742||5,459,742|7,037,155|
|EXPENDITURE ON|||||||||
|Expenditure<br>on charitable|||activities||||||
|Expenditure<br>on charitable||activities|||5,207,903||5,207,903|6,897,887|
|Other expenditure|||||124,821||124,821|76,817|
|Total|||||5,332,724||5,332,724|6,974,704|
|NET INCOME|||||127,018||127,018|62,451|
|RECONCILIATION|OF||FUNDS||||||
|Total funds brought<br>forward|||||210,739||210,739|148,288|
|TOTAL FUNDS CARRIED FORWARD|||||337,757||337,757|210,739|





|||||31 523|31.5.22|
|---|---|---|---|---|---|
|||Unrestncted|Rcstncted|Total|Total|
||Notes|fund|fund|fiinds|fimds|
|FIXEDASSETS||||||
|Tangible assets||||4,589||
|CURRENT ASSETS||||||
|Debtors<br>Cash at bank|9|634,644<br>1,289,658||634,644<br>1,289,658|1,415.460<br>2,002,(i62|
|||1,924,302||1,924,302|3,418,122|
|CREDITORS||||||
|Amounts<br>falling due within one year|10|(1,591,134)||(1,591,134)|(2,413,242)|
|NET CURRENT ASSETS||333,168||333,168|1,004,880|
|TOTAL ASSETSLESSCURRENT||||||
|LIABILITIES||337,757||337,757|1,004,880|
|CREDITORS||||||
|Amounts<br>falling due after more than one year|||||(794,141)|
|NET ASSETS/(LIABILITIES)||337,757||337,757|210,739|
|FUNDS|12|||||
|Unrestricted<br>funds||||||
|||||337,757|2]0,739|
|TOTAL FUNDS||||||
|||||337,757|210,739|



## 



|B~ih H<br>i<br>Li<br>tnf||||||
|---|---|---|---|---|---|
|Statement ofCash Flows||||||
|for the Year Ended 31 Ma|2023|||||
|||||31.5.23|31.5.22|
||||Notes|||
|Cash tlows from operating|activities|||||
|Cash generated<br>from operations||||(707,164)|694,121|
|Net cash (used in)/provided|by operating||activities|(707,164)|694,121|
|Cash flows from investing|activities|||||
|Purchase oftangible<br>fixed assets||||(5,840)||
|Net cash (used in)/provided|by investing||activities|(5,840)||
|Change in cash and cash equivalents||in the||||
|reporting<br>period||||(713,004)|694,121|
|Cash and cash equivalents|at the beginning|||||
|ofthe reporting<br>period||||2,002,662|1,308,541|
|Cash and cash equivalents|at the end||ofthe|||
|reporting<br>period||||1,289,658|2,002,662|





|RECONCILIATION|RECONCILIATION|RECONCILIATION|OFNET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES|OFNET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES|OFNET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES|OFNET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES|
|---|---|---|---|---|---|---|
||||||31.5,23|31.5.22|
||||||f||
|Net income|for the|reporting||period (as per the Statement ofFinancial|||
|Activities)|||||127,018|62,451|
|Adjustments|for:||||||
|Depreciation|charges||||1,251||
|Decrease/(increase)||in|debtors||780,816|(1,281,724)|
|(Decrease)/increase||in|creditors||(1,616,249)|1,913,394|
|Net cash (used in)/provided||||by operations|(707,164)|694,121|
|ANALYSIS|OFCHANGES|||IN NET FUNDS|||
|||||At 1.6.22|Cash flow|At 31.5.23|
|Net cash|||||||
|Cash at bank||||2,002,662|(713,004)|1,289,658|
|||||2,002,662|(713,004)|1,289,658|
|Total||||2,002,662|(713,004)|1,289,658|





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|||||31,5.23|31.5.22|
|---|---|---|---|---|---|
|||Activity||||
|Rents received||Income from charitable|activities|2,958,487|5,874,341|
|Tenants service charges||Income from charitable|activities|2,335,687|553,807|
|Void recharges||Income from charitable|activities|143,722|312,971|
|Management|fees|Income from charitable|activities||288,843|
|Commercial|lettings rent|Income from charitable|activities|17,320|7,003|
|||||5,455,216|7,036,965|
|CHARITABLE ACTIVITIES COSTS||||||
||||||Direct|
||||||Costs|
|Expenditure|on charitable|activities|||5,207,903|
|NET INCOME/(EXPENDITURE)||||||
|Net income/(expenditure)||is stated after charging/(crediting):||||
|||||31.5.23|31.5.22|
|Depreciation|- owned assets|||1,251||
|Hire ofplant|and machinery|||11,854|12,159|



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|STAFF COSTS|STAFF COSTS||||||
|---|---|---|---|---|---|---|
|The average monthly||number ofemployees||during the year was as follows:|||
||||||31.5.23|31.5.22|
|Trustees|||||2|2|
|Employees|||||43||
||||||45||
|No employees|received emoluments||in excess off60,000.||||
|TANGIBLE|FIXED|ASSETS|||||
|||||||Computer|
|||||||equipment|
|COST|||||||
|Additions||||||5,840|
|DEPRECIATION|||||||
|Charge for year||||||1,251|
|NET BOOK|VALUE||||||
|At 31May 2023||||||4,589|
|At 31May 2022|||||||
|DEBTORS:|AMOUNTS FALLING DUE|||WITHIN ONE YEAR|||
||||||31.5.23|31.5.22|
||||||f||
|Trade debtors|||||476,036|988,875|
|Other debtors|||||45,854|45,361|
|Prepayments|and accrued income||||112,754|381,224|
||||||634,644|1,415,460|
|CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR|||||||
||||||31.5.23|31.5.22|
|Trade creditors|||||1,407,888|2,081,059|
|Other creditors||||||2,000|
|Accrued expenses|||||183,246|330,183|
||||||1,591,134|2,413,242|



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|11.|CREDITOR|S: AMOUNTS||FA|LLING DU|E AFTER MORE THAN ONE YEA|R||
|---|---|---|---|---|---|---|---|---|
||||||||31.5.23|31.5.22|
||Provision for|future refurbishment||||||794,141|
|12.|MOVEMENT IN FUNDS||||||||
||||||||Net||
||||||||movement|At|
|||||||At 1.6.22|in funds|31.5.23|
||Unrestricted|funds|||||||
||General<br>fund|||||210,739|127,018|337,757|
||TOTAL FUNDS|||||210,739|127,018|337,757|
||Net movement|in funds, included|||in the above|are as follows:|||
|||||||Incoming|Resources|Movement|
|||||||I'as OUI'ces|expended|in funds|
||Unrestricted|fuads|||||||
||General fund|||||5,459,742|(5,332,724)|127,018|
||TOTALFUNDS|||||5,459,742|(5,332,724)|127,018|
||Comparatives|for movement||in|funds||||
||||||||Net||
||||||||movement|At|
|||||||At 1.6.21|in funds|31.5.22|
||||||||f||
||Unrestricted|funds|||||||
||General<br>fund|||||148,288|62,451|210,739|
||TOTALFUNDS|||||148,288|62,451|210,739|
||Comparative|net movement|in|funds, included||in the above are as follows:|||
|||||||Incoming|Resources|Movement|
|||||||resources<br>f|expended|in funds|
||Unrestricted|funds|||||||
||General<br>fund|||||7,037,155|(6,974,704)|62,451|
||TOTAL FUNDS|||||7,037,155|(6,974,704)|62,451|





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|||||Net||
|---|---|---|---|---|---|
|||||movement|At|
||||At 1.6.21|in funds|31.5.23|
|Unrestricted||funds||||
|General|fund||148,288|189,469|337,757|
|TOTAL|FUN|DS|148,288|189,469|337,757|



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||||Incoming|Resources|Movement|
|---|---|---|---|---|---|
||||resources|expended|in funds|
|Unrestricted||funds||||
|General|fund||12,496,897|(12,307,428)|189,469|
|TOTAL|FUNDS||12,496,897|(12,307,428)|189,469|



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|for the Year Ended 3|1Ma<br>|2023|||
|---|---|---|---|---|
||||31.5.23|31.5.22|
|INCOME AND ENDOWMENTS|||||
|Charitable<br>activities|||||
|Rents received|||2,958,487|5,874,341|
|Tenants service charges|||2,335,687|553,807|
|Void recharges|||143,722|312,971|
|Management<br>fees||||288,843|
|Commercial<br>lettings|rent||17,320|7,003|
||||5,455,216|7,036,965|
|Other income|||||
|Deposit account interest|||4,526|190|
|Total incoming resources|||5,459,742|7,037,155|
|EXPENDITURE|||||
|Expenditure<br>on charitable||activities|||
|Hire ofwhite goods|||11,854|12,159|
|Rates and water|||171,071|182,633|
|Insurance|||183,509|78,612|
|Light and heat|||487,592|389,382|
|Property<br>repairs|||541,530|598,546|
|Cleaning<br>and refuse|||6,274|4,188|
|Office expenses|||9,588|9,432|
|Equipment<br>expensed|||15,989||
|Motor &other travel|expenses||136,269|136,488|
|Training<br>and DBSchecking|||2,848|764|
|Rents paid|||1,837,615|3,583,665|
|Telephone, TV and licences|||63,277|55,737|
|Bad debts|||308,125|174,273|
|Management<br>costs &salaries|||1,432,362|1,672,008|
||||5,207,903|6,897,887|
|Other expenditure|||||
|Sundries|||872|666|
|Professional<br>fees|||97,144|47,925|
|Accountancy<br>fees|||8,500|7,700|
|Auditors<br>remuneration|||16,000|20,000|
|Accrediations &subscriptions|||760|113|
|Bank charges|||294|413|
|Computer<br>equipment|||1,251||
||||124,821|76,817|
|Total resources expended|||5,332,724|6,974,704|
|Net income|||127,018|62,451|