2021-03-31-accounts

Contents
					Page
Registered	Provider	Information
Trustees'	Report
Independent Auditor's			Report
Statement	of Comprehensive			Income	10
Balance Sheet
Statement	ofChanges		in Reserves		12
Statement	of Cash Flows
Notes to the Financial			Statements		14-22

targets and als	o to see	k	out com	parisons with oth	er similar RPs.
VFNI Metric					2020/21	2019/20	2018/19
Reinvestment	%				37		10
New Su I Delivered		%
Gcarin						-10
Interest Cover	- EBIDA MRI %				1657	1877	1122
Headline Social Housin			Cost	er unit E	F1946	21877	f2682
0 eratin Mar	in%				38	27	10
Return on Ca	ital Em	lo	ed %

Year Ended 31	"Nlarch	2021
				2021	2020
				Total	Total
			Note	E	E
Turnover				315,042	324,635
Administrative expenditure				(214,333)	(249,518)
Other operating income				20,515	12,591
Operating surplus				121,224	87,708
Income from fixed	asset investments			6,139	8,258
Interest receivable	and similar income			482	1,341
Surplus on ordinary activities for the year before tax				127,845	97,307
Tax on surplus on	ordinary	activities
Surplus for the year after		tax		127,845	97,307

							2021	2020
						Note	E	E
Fixed assets
Tangible fixed assets						9,10	3,647,250	2,467,019
Current assets
Debtors						12	13,463	15,271
Investments						11	142,273	116,556
Cash at bank and in hand							344,602	471,149
							500,338	602,976
Creditors:	amounts	falling		due within	one year	13	(91,517)	(77,239)
Net current	assets						408,821	525,737
Total assets less current				liabilities			4,056,071	2,992,756
Creditors:	amounts	falling		due after	more than one year	14	(1,907,522)	(997,769)
Total net assets							2,148,549	1,994,987
Reserves
Income and	expenditure		reserve			15	112,754	132,463
Investment	revaluation		reserve			15	22,274	(3,443)
Designated	reserves					15	1,931,907	1,784,353
Permanent	endowment		reserve			15	81,614	81,614
Total Reserves							2,148,549	1,994,987

Year Ended	31"Nlarch 2	021
		Income and	Investment
		expenditure	revaluation	Designated	Endowment
		reserve	reserve	reserves	reserve	Total
At 1 April 2019		140,578	30,389	1,678,931	81,614	1,931,512
Surplus for the year		97,307				97,307
Revaluation	of investments		(33,832)			(33,832)
Total comprehensive
income		97,307	(33,832)			63,475
Transfers		(105,422)		105,422
At 31 March	2020 and	132,463	(3,443)	1,784,353	81,614	1,994,987
1 April 2020
Surplus for the year		127,845				127,845
Revaluation	of investments		25,717			25,717
Total comprehensive
income		127,845	25,717			153,562
Transfers		(147,554)		147,554
At 31 March	2021	112,754	22,274	1,931,907	81,614	2,148,549

Year Ended 31"March 20	2	1
				2021	2020
			Note	E	E
Cash flow from operating activities			16	158,341	165,574
Net cash flow from operating		activities		158,341	165,574
Cash flow from investing activities
Payments to acquire tangible	fixed assets			(1,239,507)	(63,824)
Grants received				450,000	0
Interest received				482	1,341
Dividends received				6,139	8,258
Net cash flow from investing		activities		(782.886)	(54,225)
Cash flow from financing activities
Receipt of new long-term loans				525,000	0
Repayment of long term loans				(36,578)	(22,308)
Interest paid				9,576	6,771
Net cash flow from financing		activities		497,998	15,537)
Net increase in cash and cash equivalents				(126,547)	95,812
Cash and cash equivalents	at	1 April 2020		471,149	375,337
Cash and cash equivalents	at	31 March 2021		344,602	471,149
Cash and cash equivalents	consists of:
Cash at bank and in hand				344,602	471,149
Cash and cash equivalents	at 31 March 2021			344,602	471,149

								2021		2020
							Turnover	Administrative	Operating	Operating
								Expenditure	surplus	surplus
							E	E	E	E
	Social housing lettings						315,042	(214,333)	100,709	75,117
	Other operating Income						20,515		20,515	12,591
	Total						335,557	(214,333)	121,224	87,708
3	Accommodation owned			and	in management
									Number of	Number of
									units at	units at
									31 March	31 March
									2021	2020
	Completed	units:
	General	needs housing		let	at social rent				83
	Units under	development
	General	needs housing		let	at social rent				'l2	12
									95	95
4	Interest and other finance income and charges
	a) Interest	receivable and		similar income					2021	2020
									E	E
	Bank interest receivable								482	1,341
	b) Interest payable and similar Bank loan interest				charges				10,076	7,271
5	Surplus on	ordinary activities
	Surplus on	ordinary activities			is	stated after	charging	/ (crediting):
									2021	2020
									E	E
	Depreciation	oftangible	fixed		assets				59,276	59,276
	Amortisation	of Social Housing			Grant				(20,081)	(20,081)
	Profit/( loss) on fair value			movement of investments					25,717	(33,832)
	Auditors remuneration								4,440

		Freehold	Housing
		housing	properties	Total
		properties	under
		for letting	construction
Cost:
At 1 April 2020		2,871,406	41,226	2,912,632
Additions			1,239,507	1,239,507
Reclassification	ofassets
At 31 March 2021		2,871,406	1,280,733	4.152,139
Depreciation:
At 1 April 2020		524,808		524,808
Charge for year		57,429		57,429
Impairment
Eliminated on disposals
At 31 March 2020		582,237		582,237
Net book value:
At 31 March 2021		2,289,169	1,280,733	3,569,902
At 31 March 2020		2,346,598	41,226	2,387,824

angible fixed assets —other
	Freehold
	land and
	buildings
Cost or valuation:
At 1 April 2020 and 31 March 2021	92,350
Depreciation:
At 1 April 2020	13,155
Charge for the year	1,847
At 31 March 2021	15,002
Net book value:
At 31 March 2021	77,348
At 31 March 2020	79,195

ixed asset investments
	Listed and
	unlisted	Total
	investments
	E
At valuation
At 1' April 2020	116,556	116,556
Additions
Disposals
Revaluation	25,717	25,717
At 31 March 2021	142,273	142,273
Net book value
At 31 March 2021	142,273	142,273
At 31 March 2020	116,556	116,556

12	Debtors
							2021	2020
							E	E
	Rent arrears						10,483	10,114
	Social Housing Grants receivable
	Prepayments and	accrued income					2,980	5,157
							13,463	15,271
13	Creditors: amounts	falling due within			one year
							2021	2020
							E	E
	Trade creditors
	Rents paid in advance						410	310
	Other taxes and social security
	Social Housing Grant not		spent					18,511
	Almshouses Association		loan				10,000	10,000
	Triodos Bank loan						6,295	6,065
	Pendle Borough Council		loan				26,250
	Other creditors						14,686	19,792
	Accruals and deferred income						3,600	2,480
	Deferred income —Social		Housing	Grants			30,276	20,081
							91,517	77,239
14	Creditors: amounts	falling due after			more than one year
							2021	2020
							E	E
	Almshouses Association		loan				50,000	60,000
	Triodos Bank loan						164,788	171,083
	Pendle Borough Council		loan				487,813
	Deferred income:	Social	Housing	Grants		(original developments)	385,219	398,340
	Deferred income:	Social	Housing	Grants		(2018/19 developments)	320,160	327,120
	Deferred income:	Social	Housing	Grants		(Market Street)	499,542	41,226
							1,907,522	997,769

15	Reserves
	a) Permanent endowment		fund
								2021	2020
								E	E
	Balance	brought forward						81,614	81,614
	Movement in the year
	Balance	at 31"March 2021						81,614	81,614
	b) Investment revaluation			reserve
								2021	2020
									E
	Balance	brought forward						(3,443)	30,389
	Revaluation of investments							25,717	(33,832)
	Balance	at 31"March 2021						22,274	3,443
	c)Designated reserves
								2021	2020
								E	E
	Housing	development		reserve:
	Balance	brought forward						321,249	223,467
	Transfer	from / (to) the Income and Expenditure					Account	(96,249)	97,782
	Balance	at 31"March 2021						225,000	321,249
								2021	2020
								E	E
	Fixed assets reserve:
	Balance	brought forward						1,433,104	1,435,464
	Transfer	from the Income and Expenditure				Account		233,803
	Transfer	to the income and Expenditure			Account				(2,360)
	Balance	at 31"March 2021						1,666,907	1,433,104
								2021	2020
								E
	Major repair reserve:
	Balance	brought forward						30,000	20,000
	Transfer	(to) / from the Income and Expenditure					Account	10,000	10,000
	Balance	at 31"March 2021						40,000	30,000
								2021	2020
								E	E
	Total designated reserves							1,931,907	1,784,363

Ye	ar Ended 31 INarch 2021	ar Ended 31 INarch 2021
	d) Income and Expenditure		reserve
								2021	2020
								E	E
	Balance brought forward							132,463	140,578
	Surplus for the year							127,845	97,307
	Net transfer (to)/from:
	Housing development	reserve						96,249	(97,782)
	Fixed assets reserve							(233,803)	2,360
	Major repairs reserve							(10,000)	(10,000)
	Balance at 31"March	2021						112,754	132,463
16	Reconciliation of operating surplus)					to cash flow from operating		activities
								2021	2020
								E
	Surplus for the year							127,845	97,307
	Interest received and	investment			income			(6,621)	(9,599)
	Depreciation and impairment			of	tangible		fixed assets	59,276	59,276
	Amortisation of grants							(20,081)	(20,081)
	Proceeds ofsale of tangible		fixed assets
	Proceeds ofsale of investments
	Decrease / (Increase)	in trade		and other			debtors	1,808	(3,705)
	(Decrease) / Increase	in trade		and other			creditors	(3,886)	42,376
	Net cash flow from operating				activities			158,341	165,574

					2021	2020
					E	E
Capital	expenditure	that has	been contracted	for but has not been
provided	for in the	financial	statements		168,000
Capital	expenditure	that has been authorised		by the Board but
has not	yet been contracted		for			1,370,000