2021-12-31-accounts - Edward Mayes Trust

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Contents					Page
1.	Members	ofthe Board	and Professional	Advisers
2.	Trustees'	Annual Report			3 —9
3,	IndependentAuditor's		Reportto the Trustees		10-13
4.	Statement	ofComprehensive Income			14
5.	Statement	ofChanges	in Reserves		15
	Statement	of Financial	Position		16
	Notes to	the Financial	Statements		17-27

Registered	under the Companies	under the Companies	09295352
Charity Number:			116631B
Regulator	ofSodal Housing	Number:	5072
Registered	Office:		Mayes Gardens
			Harrison Street
			Ancoats
			Manchester
			M4 7FN
Trustees:			Mr J Sandford	(Chairman)
			Mr J Longsden	(Nominee			ofthe City of Manchester)
			Mrs J Winterbourne
			Mr J Louden
			Ms P Cotterill
			Mr J Pickett
			Mr E Stelfox
			Ms LEverton
Secretary:			Mr P Harrison
Auditor:			Mitchell Charlesworth			LLP
			Chartered Accountants
			Statutory Auditor
			3N Floor
			44 Peter Street
			Manchester
			M2 SGP
Bankers:			National Westminster			Bank Pic
			Spinningfields	Square
			182Deansgate
			Manchester
			M3 3LY
Investment	Managers:		Tilney Investment		Management
			Royal Liver Building
			Pier Head
			Liverpool
			Merseyside
			L31NY

1.	Reinvestment (SS)					16'Y
2.	New supply delivered
3.	Gearing {'/0)
4.	Earnings before interest,	tax,	depreciation,	amortisation	and major repairs
	(EBITOA MRI) —Interest cover 5',
5.	Headline social housingcost		perunit
	Utilities charges					19,700	23,888
	Routine maintenance					49,602	35,457
	Planned maintenance
	Major repairs					450,680	9,234
	Community services					9,754	8,153
	Bad debts
	Total cost					529,736	76,732
	Number ofunits					75	75
	Cost per unit					7,063	1,023
6.	Operating margin - social housmg					(4)%	(6)%
7.	Return on Capital Employed		(ROCE)			0/

Set out bel	ow is	a s	ummary	of the year's inco	me and expenditure,	together with that ofthe previou	s year:
					Notes	2021	2020
						6	g
Turnover						384,868	382,423
Operating	expenditure					(402,288)	(407,246)
Operating	defidt					(17,420)	(24,823)
Interest receivable			and other income			55,154	50,803
						37,734	25,980
Loss on disposal		of	tangible	fixed assets		(2,028)	(4,784)
Profit/(loss)	on disposal of			investments		93,962	(17,464)
Unrealised	profit	on investments				87,846	30,983
Surplus for the year						217,154	34,715

			2021	2020
			E	E
Turnover			384,868	382,423
Operating	expenditure		(402,288)	(407,246)
Operating	defldt		(17,420)	(24,823)
Interest receivable and other income			55,154	50,803
			37,734	25,980
Loss an disposal oftangible		fixed assets	(2,028)	(4,784)
Profit/(loss)	on disposal af	investments	93,962	(17,464)
Unrealised	profit on investments		87,486	30,983
Surplus for the year			217,154	34,715

					Restricted	Restricted
					income and	Capital
					Expenditure	Expenditure
					Reserve E	Reservef	Total E
Balance	at 1January 2021				3,935,420	159,738	4,095,158
Surplus	from statement		of comprehensive	income	214,326		214,326
Grants	received				(152,000)	152,000
Transfer	to/(from)	Reserves			22,910	(22,910)
Balance	at 310ecember		2021		4,020,656	288,828	4,309,484

						Notes		2021		2020
Fixed assets
Tangible	fixed assets							2,756,556		2,434,884
intangible	fixed assets							647		2,996
Investme	nts							1,839,674		1,594,831
								4,596,877		4,032,711
Current assets
Trade and	otherdebtors					10	20,623		17,193
Investments						11	140,728		57,953
Cash and	cash equivalents						180,182		484,025
							341,533		559,171
Less:
Creditors:	amounts	falling due	within		one year	12	(87,513)		(60,015)
Net currentassets								254,020		499,156
Total assets less current liabilities								4,850,897		4,531,867
Creditors:	amounts	falling due	after	more than
one year								(541,413)		(436,709)
Total net	assets							4,309,484		4,095,158
Reserves
Restricted	income	and expenditure		reserve		14		4,020,656		3,935,420
Restricted	capital	expenditure	reserve			14		288,828		159,738
Total reserves								4,309,484		4,095,158

Particulars of income and expenditure	Particulars of income and expenditure	Particulars of income and expenditure	from sodal housing	2021 f	2020 f.
Income from housing
Residents' contnbution				378,868	375,669
Supporting People Amortised Government	grants —Included		in Interest receivable and other income	6,000 27,706	6,754 15,140
Other income —Included		in Interest receivable and other income		1,039	955
				413,613	398,518
Expenditure on sodal housing
Ma nage me nt Routine maintenance				202,016 63,444	201,169 71,917
Depreciation of housing		properties		136,829	134,160
Total expenditure on housing				402,288	407,246
Operating surplus/(deficit)		on social housing		11,325	(8,728)

Employee information		2021 No.	2020 No.
The average weekly number of persons expressed as full-time	equivalent
employed during the year was:
		2021 f	2020f
Staff Costs:
Wages and salaries Social security costs Pension costs		75,469 7,744 6,561	73,961 7,499 6,270
		89,774	87,730

					2021	2020
5.	Interest receivable	and	other	income	6	6
	Bank interest receivable				604	1,391
	Inca me fram UK listed		investments		26,410	19,709
	Grants receivable				27,706	29,267
	Other income				434	436
					55,154	50,803
	Surplus on ordinary	activities			2021	2020
					6	6
	Surplus an ordinary	activities		is stated after charging:
	Depreciation:
	Tangible owned fixed assets				136,829	134,160
	Auditors remuneration:
	In their capacity as	auditors			6,750	7,000
	In respect of nan-audit		services		2,500	2,500

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8.	Intangible fixed assets	Website
		6
	Cost
	At 1January 2021and 31December 2021	7,049
	Amortisation
	At 1January 2021	4,053
	Charge for the year	2,349
	At 31December 2021	6,402
	Net book value
	At 31December 2021	647
	At 31December 2020	2,996

	Fixed asset investments			2021 f	2020 f
	Movement in market value
	Market value b/f			1,594,831	1,535,488
	Acquisition at cost Disposals at book value Net gain on revaluations in the year			309,080 (179,925) 115,688	120,395 (88,968) 27,916
	Market value at the year-end			1,839,674	1,594,831
	Historical cost at the year-end			1,765,233	970,591
	Analysis of investments at 31December 2021 between reserves	Accumulated	Restricted	Total Reserves	Total Reserves
		Surplus f	Reservesf	2021 f	2020 f
	Listed investments
	UK quoted fixedinterest	101,350		101,350	55,066
	UK quoted shares UK unit trusts Investment and unit trusts	329,284 78,145 1330895		329,284 78,145 1,330,895	271,068 81,587 1,187,110
		1,839,674		1,839,674	1,594,831
10.	Debtors			2021 f	2020 f
	Other debtors			5,944	4,267
	Prepayments and accrued income			14,679	12,926
				20,623	17,193
11.	Current assets investments			2021 f	2020 f
	Cash on short-term deposit			140,728	57,953


12.	Creditors:	Amounts falling	due within one year	2D21	2020
				6	f
	Almshouse	Association loans		30,451	27,826
	Accruais and deferred income			21,631	13.115
	Unamortised	Government	grants	33,431	15,140
	Other tax and social security			2,000	3,934
				87,513	60,015
13.	Creditors: Amounts falling		due after more than one year	2021	2020
				6	6
	Almshouse	Association loans		112,999	119,699
	Unamortised	Government	grants	428,414	317,010
				541,413	436,709

The loan fogows:	s from the	Almsho	use Association are unsecured, i	nterest free and repayable in mstalme	nts due as
				2021	2020
				6	6
In one year or less				30,451	27,826
Between	one and two years			46,774	49,399
Between	two and five years			66,225	70,300
				143,450	147,525
				2021	202D
				6	6
Unamortised Government			grants
At the start ofthe year				332,150	347,290
Released	to income	in the year		(27,706)	(15,140)
Received	in the year			157,401
At the end ofthe year				461,845	332,150
Amounts	due to be	released	& 1year	33,431	15,140
Amounts	due to be	released	&1year	428,414	317,010
				46",845	332,150

Restricted reserves	Balance at			Transfer	Balance at 31
	1January 2021	Surplus for the year	Grants received	to/(from) reserves	December 2021
	E	E	E	E	E
Income and expenditure Capital expenditure Mrs Lum's Charity Charity Known as the Sale Almshouses Whitelegg Almshouses Elizabeth Stopford for Almshouses The Ingham's Almshouses	3,041,058 159,738 233,260 112,930 84,825 136,477 324,040	136,424 22,148 15,148 1,358 (5,390) 47,466	(152,000) 152,000	22,910 (22,910)	3,048,392 288,828 255,408 128,078 86,183 131,088 371,506
	4,095,158	217,154			4,309,484

Manches	ter, M4 7FN.
Units in	management			2021 No	2020 No
Housing	accommodation	-Supported	Housing:
At the end ofthe year				75	75

Grants and financial	assistance				2021	2020
					6	6
The total accumulated	Government	grants	received at31December 2021		461,845	332,150
Held as unamortised	capital grants				428,414	317,010
Recognised as income	in Statement	of comprehensive		Income	27,706	15,140
					461,845	332,150

		Restricted				Restricted
		income and	Restricted			income and	Restricted
		expenditure	capital	fund	Total funds	expenditure	capital	fund	Total funds
		fund 2021		2021	2021	fund 2020		2020	2020
Fixed assets		4,596,877			4,596,877	4,032,711			4,032,711
Current	assets	52,705	288,828		341,533	399,433	159,738		559,171
Current	liabilities	(87,513)			(87,513)	(60,014)			(60,014l
Non-current
liabilities		(541,413)			(541,413)	(436,710)			(436,709)
		4,020,656	288.828		4,309,484	3,935,420	159,738		4,095,158