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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|
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|Registered|under the Companies|under the Companies|Act 2006:|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|||||
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|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/||
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|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|
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||||Notes|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|
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||||||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|
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|||||||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|
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|2.|Particulars
of income and expenditure|Particulars
of income and expenditure|Particulars
of income and expenditure|from sodal housing|from sodal housing|lettings|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)|
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|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|
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||||||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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##
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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|
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|||||||
|---|---|---|---|---|---|
|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|
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|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|
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|Manches|ter,
M4 7FN.|||||
|---|---|---|---|---|---|
|Units in|management|||2021
No|2020
No|
|Housing|accommodation|-Supported|Housing:|||
|At the end ofthe year||||75|75|
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|20.|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|
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