## ## ## |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|