2022-03-31-accounts - Chartford Housing Limited

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Board Members, Executive Officers, Advisors
Report ofthe Directors
Independent Auditors' Report to the Members ofChartford	Housing	Limited	12
Statement ofComprehensive Income			16
Statement of Financial Position			17
Statement ofChanges in Reserves			18
Statement ofCash Flows			19
Notes to the Financial Statements			20

			2022	2021
				E
Turnover			2,624,627	3,694,835
Operating expenditure			(1,720,281)	(1,243,907)
Operating surplus			904,346	2,450,928
Loss on disposal offixed assets			(17,612)
Interest and financing	costs		(291,271)	(196,847)
Surplus for the year		15	595,463	2,254,081
Revaluation surplus		15	294,650	466,978
Total comprehensive	income for the year		890,113	2,721,059

							Note	2022	2021
									f
Net cash	inflow from operating		activities				18	3,397,971	2,226,627
Cash flow	from investing	activities
Purchase	and construction	of housing		fixed		assets	9	(3,508,461)	(5,928,540)
Sale ofhousing fixed assets								166,699
Recycled grant								(25,000)
								(3,366,762)	(5,928,540)
Cash flow	from financing	activities
New Loans								300,000	3,700,000
Loan repayments
Interest paid								(291,271)	(196,847)
								8,729	3,503,153
Net change in cash and cash equivalents					in	the period		39,938	(198,760)
Cash and	cash equivalents	at the beginning				of the period		166,442	365,202
Cash and	cash equivaients	at the end		of	the	period		206,380	166,442
MOVEIVIENTS IN NET DEBT
							1April 2020	Cashflows	31March
									2022
								f	f
Loans due	after more than	one	year				10,400,000	300,000	10,700,000
Cash							(166,442)	(39,938)	(206,380)
							10,233,558	260,062	10,493,620

					2022			2021
			Operating			Operating	Operating Operating
	Turnover			costs f		surplus Turnover f f		costs surplus f
Social housing lettings	2,624,627		1,720,281			904,346 3,694,835 1,243,907 2,450,928
and management
charges
						Supported	Total	Total
						Housing	2022	2021
						f	f	f
Rent receivable net of
identifiable service charges						858,536	858,536	615,085
Management charges						216,729	216,729	209,475
Government Grants taken to		income				1,508,169	1,508,169	2,870,275
Other Income						41,193	41,193
Turnover from social housing		lettings				2,624,627	2,624,627	3,694,835
Expenditure on social housing		lettings
Management costs						930,420	930,420	419,868
Depreciation ofhousing	properties		S.other		assets	457,532	457,532	276,357
Impairment of housing	properties					332,329	332,329	547,682
Operating expenditure	on social housing			lettings		1,720,281	1,720,281	1,243,907
Operating surplus on social housing			lettings			904,346	904,346	2,450,928
Void losses

					2022	2021
					No.	No.
Supported housing	accommodation:
Self-contained		flats			133	114
Houses					53	33
					186	147
OPERATING SURPLUS
The operating surplus	is arrived at		after	charging:
					2022	2021
					f	f
Depreciation / impairment ofhousing				properties	789,862	824,039
(Loss) on disposal ofhousing fixed assets					(17,612)
Auditors' remuneration		for audit	services		7,400	4,920
LOSS ON DISPOSAL OF HOUSING			FIXEDASSETS
					2022	2021
Disposal proceeds					166,699
Carrying value ofhousing		fixed assets			(159,311)
					7,388
Capital grant recycled (Note 13)					(25,000)
Total loss on disposal	of	housing	fixed	assets	(17,612)

forth	e year ended 31March 2022
10	DEBTORS
		2022			2021
			f		f
	Government grants receivable		351,769		1,066,275
	Other debtors		6,391
	Prepayments and accrued income				1,035
	Inter-company account		222,291		196,514
			580,451		1,263,824
11	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
			2022		2021
					f
	Trade creditors		149,043		183,782
	Accruals and deferred income		1,155,438		275,755
	Inter-company account		130,720		2,857
			1,435,201		462,394
	Included above is deferred income off1,036,350 relating to government f168,750).		grants	(2021:
	Balance at 31March 2021				168,750
	Amount billed in the year				2,375,769
	Amount released to income	in the year		~1508169
	Balance at 31March 2022				1036350
12	CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
			ZOZZ		ZOZ1
	Debt (note 14)	10700 000			10400 00
13	RECYCLED CAPITAL GRANT FUND
	Opening funds at 1April 2021
	Grants recycled		25,000
	Recycling ofgrant: new property		(25,000)
	Closing funds at31March 2022

forth	e year ended 31IVlarch 2022
14	DEBTANALYSIS
		2022f	2021 f
	Due within one year
	Due after more than one year	10,700,000	10,400,000
	Debt is repayable as follows:
	Debt within one year
	Between one and two years	10,700,000
	Between two and five years		10,400,000
	After five years
		10,700,000	10,400,000
	The full amount ofthe debt above is unsecured.
15	RESERVES
	General Reserve
	Opening funds at 1April 2021	3,865,790
	Surplus for the financial year	595,463
	Transfer from Revaluation Reserve	17?,870
	Closing funds at 31March 2022	4,639,123
	Revaluation Reserve
	Opening balance at 1April 2021	729,936
	Dr ~ ~ I i +i~ I'\CVO IUG LIVI I	294(650
	Transfer to General Reserve	(177,870)
	Closing balance at 31March 2022	846,716

	Expenditure commitments are as	follows:
					2022	2021
	Capital expenditure
	Expenditure contracted for but	not provided		in the accounts	1,319,078	326,535
18	CASH GENERATED FROM OPERATING ACTIVITIES
					2022	2021
	Cash flow from operating activities
	Operating surplus				904,346	2,450,928
	Capitalised costs written off				47,584
	Depreciation and impairment of housing		fixed assets		789,862	824,039
	Decrease/(increase) in debtors				683,373	(1,041,410)
	Increase/(decrease) in creditors				972,806	(6,930)
	Net cash inflow from operating	activities			3,397,971	2,226,627

e following is a summary o mpanies:	f th	e amo	unts recognised and rec	eived from the o	ther group
				2022	2021
					f
Fees charged to HHA
For acting as landlord	for properties			57,503	53,783
For use offlats as offices				9,965	4,897
Fees charged to HHS
For acting as landlord	for properties			121i134	j )67oc
For use of properties	as offices			28,127	24,000
Total related party fee income				216,729	209,475
Fees from HHA for management		and housing support services		514,949	130,015
Fees from HHA for support services				130,000	128,125
Interest charged on loan received		from	HHA	291,271	196,847
Fees from HHS for management		services		74,422	57,755
Tota I related pa rty charges				1,010,642	512,742