2022-03-31-accounts

Contents
				Page
Registered	Provider Information
Trustees'	Report
Independent Auditor's		Report		10
Statement	ofComprehensive		Income
Balance Sheet
Statement	ofChanges	in Reserves		15
Statement	ofCash Flows
Notes to the Financial		Statements		17-25

Charity Commission registration number	Charity Commission registration number		1183388
Regulator of Social Housing	registration	number	5086
Trustees ofthe board as at	31/03/22:		Mr A P D

					2022
				Note
Fixed assets
Tangible fixed assets				9,10	3,753,611	3,647,250
Current assets
Debtors					16,997	13,463
Investments					155,751	142,273
Cash at bank and in hand					445,669	344,602
					618,417	500,338
Creditors:	amounts	falling due within one year
Net current	assets				523,441
Total assets less current liabilities					4,277,052	4,056,071
Creditors:	amounts	falling due after more than one year		14	(1,985,067j	(1.907,522)
Total net assets					2,291,995	2,148,649
Reserves
Income and	expenditure		reserve	15	277,844	112,754
investment	revaluation		reserve	15	36,752	22,274
Designated	reserves			15	1,896,785	1,931,907
Permanent	endowment		reserve	'l5	81,614	81,614
Total Reserves					2,291,995	2,'I48,649

Year Ended	31 Ilarch 20	22
		income and	Investment
		expenditure	revaluation	Designated	Endowment
		reserve	reserve	reserves	reserve	Total
At 1 April 2020		132,463	(3,443)	1,784,353	81,614	1,994,987
Surplus for the year		127,845				12?,845
Revaluation	of investments		25,717			25,717
Total comprehensive
income		127,845	25,717			153,562
Transfers		(147,554)		147,554
At 31 INarch	2021 and	112,754	22,274	1,931,907	81,614	2,148,549
1 April 2022
Surplus for the year		129,968				129,968
Revaluation	of investments		13,478			13,478
Total comprehensive
income		129,968	13,478			143,446
Transfers		35,122		(35,122)
At 31 INarch	2022	2?7,844	35,752	1,896,785	81,614	2,291,995

Year Ended 31 March 202	2
			2022	2021
		Note
Cash flow from operating activities			166,276	158,341
Net cash flow from operating activities			166,276	158,341
Cash flow from investing activities
Payments to acquire tangible	fixed assets		(180,247)	(1,239,507)
Grants received			150,000	450,000
interest received			354	482
Dividends received			7,229	6,139
Net cash flow from investing	activities		(22.664)	(782,886)
Cash flow from financing activities
Receipt ofnew long-term loans				525,000
Repayment ofiong term loans			(56,141)	(36,578)
Interest paid			13,596	9,576
Net cash flow from financing	activities		(42,545)	497,998
Net increase in cash and cash equivalents			101,067	(126,547)
Cash and cash equivalents	at 1April 2021		344,602	471,149
Cash and cash equivalents	at 31 INarch 2022		445,669	344,602
Cash and cash equivalents	consists of:
Cash at bank and in hand			445,669	344,602
Cash and cash equivalents	at 31 INarch 2022		445,669	344,602

				2022		2021
				Administrative	Operating	Operating
			Turnover	Expenditure	Surplus	Surplus
			F
Social	housing	lettings	361,655	(250,239)	111,416	100,709
Other	operating	income	10,969		'I0,969	21,515
Total			372.264	250,239	122,385	121,224

Accommoda	tion owned and in management
		Number of	Number of
		units at	units at
		31 March	31 March
		2022	2021
Completed General	units: needs housing let at social rent	95	83
Units under General	development needs housing let at social rent		12
			95
interest and other finance income and charges
a) Interest	receivable and similar income	2022	2021
			F
Bank interest receivable		354	482
b) Interest payable and similar charges Bank loan interest		14,096	10,076
Surplus on	ordinary activities
Surplus on	ordinary activities is stated after charging I (crediting):
		2022 F	2021f
Depreciation	oftangible fixed assets	73,886	59,276
Amortisation	ofSocial Housing Grant	(26,678)	(20,081)
Profit I(loss) on fair value movement ofinvestments Auditors remuneration		13,478 3,600	(25,717) 4,440

angible fixed a	ssets —housing propertie	s
		Freehold	Housing
		Housing	Properties
		Properties	Under
		For letting	Construction	Total
Cost:
At 1 April 2021		2,871,406	1,280,733	4,152,139
Additions			180,247	180,247
Reclassification	ofassets	1.460,980	1,460,980
At 31 March 2022		4,332,386		4.332,386
Depreciation:
At 1 April 2021		582,237		582,237
Charge for year		72,039		72,039
Impairment
Eliminated on disposals
At 31 March 2022		654,276		654,276
Net book value:
At 31 March 2022		3,6?8,110		3,678,110
At 31 March 2021		2,289,169	1,280,733	3,569,902

Tangible fixed ass	ets —other
					Freehold
					land and
					buildings
Cost orvaluation:
At 1 April 2021 and 31 March		2022			92,350
Depreciation; At 1 April 2021 Charge for the year At 31 March 2022					15,002 1,847 16,849
Net book value:
At 31 March 2022					75,501
At 31 March 2021					77,348
Total accumulated	impairments	ofFNil are recognised	in the opening	position.

ixed asset investments
	Listed and
	unlisted
	investments	Total
At valuation
At 1 April 2021	142,273	142,273
Additions
Disposals Revaluation	13,478	13,4?8
At 31 March 2022	155,75'1	155,751
Net book value
At 31 March 2022	155,751	155,751
At 31 March 2021	142,273	142,273

ebtors
		2022f	2021
Rent arrears		12,037	10,483
Social Housing Prepayments	Grants receivable and accrued income	4,960	2,980
		16,997

				2022
				P
Trade creditors
Rents paid in advance				408	410
Other taxes and	social security
Social Housing	Grant not	spent
Almshouses Association		loan		10,000	10,000
Triodos Bank loan				6,535	6,295
Pendle Borough Other creditors	Council	loan		26,250 14,907	26,250 14,686
Accruals and deferred income				3,600	3,600
Deferred income	—Social	Housing	Grants	33,276	30,276
				94,976

			2022	2021
				R
Almshouses Association	loan		40,000	50,000
Triodos Bank loan			158,252	164,788
Pendle Borough Council Deferred income: Social	loan Housing	Grants (original developments)	461,563 372,097	487,813 385,219
Deferred income: Social	Housing	Grants (2018i19developments)	313,200	320,160
Deferred income: Social	Housing	Grants (Market Street)	639,945	499,542
			1,S85,057	1,907,522

			2022	2021
Balance brought forward			81,614	81,614
Movement	in the year
Balance at	31 March 2022		81,614	81,614
b) Investment revaluation		reserve
			2022	2021f
Balance brought forward			22,274	(3,443)
Revaluation	of investments		13,478	26,717
Balance at	31 March 2022		35,752	22,274

c)Designated reserves	c)Designated reserves				2022	2021
Housing Balance	development reserve: brought forward				225,000	321,249
Transfer	from / {to)the income and Expenditure			Account	{204,33?)	{96,249)
Balance	at 31 March 2022				20,663	225,000
					2022	2021
					F
Fixed assets reserve:
Balance	brought forward				1,666,907	1,433,104
Transfer	from the income and Expenditure		Account		25,586	233,803
Transfer	to the Income and Expenditure	Account
Balance	at 31 March 2022				1,692,493	1,433,104
					2022	2021
INajor repair reserve".
Balance	brought forward				40,000	30,000
Transfer	(to) / from the Income and Expenditure			Account	110,000	10,000
Balance	at 31 March 2022				150,000	40,000
						2021
Site enhancement reserve".
Balance	brought forward
Transfer	(to) / from the Income and Expenditure			Account	30,000
Balance	at 31 March 2022				30,000
					2022
Service	charge reserve:
Balance	brought forward
Transfer	(to) / from the Income and Expenditure			Account	3,629
Balance	at 31 March 2022				3,629
					2022	2021
Total designated reserves					1,896,785	1,931,907

	d) Income and Expenditure	r	es	erv	e
								2021
								E
	Balance brought forward						112,754	132,463
	Surplus for the year						'l29,968	127,845
	Net transfer {to)/from:
	Housing development reserve						204,337	96.249
	Fixed assets reserve						(25,586)	(233,803)
	Major repairs reserve						(110,000)	{10,000)
	Site enhancement reserve						(30,000)
	Service charge reserve						(3,629)
	Balance at31 March 2022						277,844	112,754
16	Reconciliation ofoperating surplus)				to cash flow from operating		activities
							2022	2021
								F
	Surplus for the year						129,968	127,846
	Interest received and investment			income			(7,583)	(6,621)
	Depreciation and impairment		of	tangible		fixed assets	73,886	59,276
	Amortisation ofgrants						(26,678)	(20,081)
	Proceeds ofsale oftangible	fixed assets
	Proceeds ofsaic ofinvestments
	Decrease / (Increase) in trade		and		other	debtors	(3,534)	1,800
	(Decrease) / Increase in trade		and		other	creditors	217	(3,886)
	Net cash flow from operating			activities			166,276	128,341
17	Pensions and other post-retirement				benefits

Capital	expenditure	that has been contracted	for but has not been
provided	for in the	financial statements		20,663	168,000
Capital	expenditure	that has been authorised	by the Board but
has not	yet been contracted for