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|||Page|
|---|---|---|
|Registered Social Housing Provider Information|||
|Trustees Report|||
|Report ofthe Independent|Auditors||
|Statement ofComprehensive|Income||
|Balance Sheet|||
|Statement ofChanges in Reserves||10|
|Statement ofCash Flows|||
|Notes to the Financial Statements||12|
||AYLOTT JANES ALMSHOUSES|AYLOTT JANES ALMSHOUSES|AYLOTT JANES ALMSHOUSES||||
|---|---|---|---|---|---|---|
|REGISTERED SOCIAL HOUSING||PROVIDER INFORMATION|||||
||for the Year Ended 31December 2023||||||
|STATUS:|Unincorporated|charity|registered|15January||1963|
||Charity Registered Number 200230||||||
||Regulator ofSocial Housing Number||||A0211||
|TRUSTEES|||||||
|CHAIRMAN:|Councillor D Agbley||(Resigned|6June 2023)|||
||JYoung||(Appointed||6 June 2023)||
|OTHER TRUSTEES:|C Tollervey||||||
||P Banks-Smith||||||
||KA Cowan||||||
||Father RBrown||||||
||JYoung||||||
||Councillor JHussain||||||
||Councillor FBegum||||||
||Councillor
CIsles||(Appointed||6June 2023)||
|CLERK TO THE TRUSTEES:|Duncan Welch &Co||||||
|REGISTERED OFFICE:|Peterson House||||||
||2a Tennyson Road||||||
||Luton||||||
||Bedfordshire||||||
||LU13RT||||||
|AUDITORS:|Miller &Co||||||
||5 Imperial Court||||||
||Laporte Way||||||
||Luton||||||
||Bedfordshire||||||
||LU4 8FE||||||
|B~RS:|Metro Bank||||||
||10 - 20 Castle Street||||||
||Luton||||||
||Bedfordshire||||||
||LU1 3AJ||||||
|INVESTMENT MANAGERS:|JM Finn &Co||||||
||4 Coleman Street||||||
||London||||||
||EC2R 5TA||||||
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||The
Regulator
for|The
Regulator
for|Social|Social|Housing|Housing|Housing||Value|Value|for|money|AJA 2023|AJA 2022|SPBM'|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||Metrics||||||||||||||2023|
||Reinvestment
%||||||||||||0%|0%|3.70%|
||New Su|I
Delivered||%||||||||||||
|2a|New Su|1 Delivered||Social Housin||||Units|||||0%|00/|QO/|
|2b|New Su|1 Delivered||on-social|||Housin|||Units|||0%|0%|0%|
||Gear'||||||||||||0%|0%|13.24%|
||EBITDA|MRI Interest||Cover|%||||||||0%|0%|168%|
||Headline
0 eratin|Social Housin
Mar
'||Cost|Per||Unit||Per Annum||||Z4,669|E3,698|f.5,395|
|6a|0 eratin|Mar
in Social Housin||||Lettin||||s Onl|||4,98 %|10.60%|13.34%|
|6b|0 eratin|Mar in
Overall|||||||||||4.98 %|10.60%|13.21%|
||Return On Ca ital Em|||lo ed|||||||||0.46 %|0.95%|1.86%|
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||for the|Year Ended 31De|cember 2023||
|---|---|---|---|---|
||||2023|2022|
|||Note|||
|Turnover|||160,117|148,971|
|Operating|expenditure||(168,092)|(133,147)|
|Operating|(deficit)/surplus||(7,975)|15,824|
|Income from fixed asset investments|||34,675|18,893|
|Movements|in fair value of||||
|financial
instruments|||45,709|(31,948)|
|Total comp|rehensive
income for the year||72,409|2,769|
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|||||2023||2022||
|---|---|---|---|---|---|---|---|
||||Notes|||||
|FIXEDASSETS:||||||||
|Freehold Housing Properties|||||741,360||752,335|
|Investments|||||900,855||815,045|
||||||1,642,215||1,567,380|
|CURRENT ASSETS:||||||||
|Debtors||||18,621||9,415||
|Cash at bank and in hand||||75,265||88,767||
|||||93,886||98,182||
|CREDITORS: Amounts||falling||||||
|due within one year||||12,446||11,718||
|NET CURRENT ASSETS|||||81,440||86,464|
|CREDITORS: Amounts||falling||||||
|due after more than one year|||||159,831||162,429|
|TOTAL NET ASSETS|||||f.1,563,827||E1,491,415|
|RESERVES:||||||||
|Restricted funds:||||||||
|Endowment
reserve|||12||680,883||629,586|
|Restricted reserve|||12||226,884||192,366|
||||||907,767||821,952|
|Unrestricted
funds:||||||||
|Income and expenditure|reserve||||656,057||669,463|
||||||K1,563,S24||E1,491,415|
##
|||Income and||||
|---|---|---|---|---|---|
|||expenditure|Restricted|Endowment||
|||reserve|reserve|reserve|Total|
|||f.||||
|At 1 January 2022||673,217|169,098|646,331|1,488,646|
|Surplus
/ (deficit) for the year||34,717|(5,081)|(26,867)|2,769|
|Total comprehensive|income|707,934|164,017|619,464|1,491,415|
|Transfers between|funds|(38,471)|28,349|10,122||
|At 31December 2022 and 1 January 2023||669,463|192,366|629,586|1,491,415|
|Surplus
/ (deficit) for the year||26,700|5,015|40,694|72,409|
|Total comprehensive|income|696,163|197,381|670,280|1,563,824|
|Transfers between|fimds|(40,106)|29,503|10,603||
|At 31December 2023||656,057|226,884|680,883|1,563,824|
##
||||||Note|2023|2022|
|---|---|---|---|---|---|---|---|
|Net cash|flow|from operating
activities|||15|(8,07|22,918|
|Net cash|flow|from investing
activities||||||
|Dividends|received|||||34,675|18,893|
|Payments|to acquire investments|||||(40,106)|~38,471|
|Net cash|flow|from investing|||||19,578|
|Net (decrease)||/ increase in|cash and cash equivalents|||(13,507)|3,340|
|Cash and|cash|equivalents|at beginning|ofthe year||88,774|85,434|
|Cash and|cash|equivalents|at end ofthe|year||75,267|88,774|
|Cash and|cash|equivalents|consist of|||||
|Cash at bank and on hand||||||75,265|88,767|
|Cash on deposit||with brokers||||2|7|
|Cash and|cash|equivalents|at end ofthe|year|16|~75267|88,774|
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|HOUSING LETTING|S|||||||
|---|---|---|---|---|---|---|---|
|||||||2023|2022|
|Turnover||||||||
|Contributions
receivable net||of|identifiable|service charges and voids||149,703|139,939|
|Service charge income||||||7,816|6,434|
|Amortised
government|grants|||||~2598|~2598|
|Turnover
from social|housing||lettings|||160,117|148,971|
|Administrative
expenditure||(note 17)||||||
|Management
costs||||||37,269|37,587|
|Service charge costs||||||26,287|24,019|
|Repairs and maintenance||||||93,561|60,556|
|Gifts to tenants|||||||10|
|Depreciation ofhousing|properties|||||1~0975|10,975|
|Administrative
expenditure||on social housing lettings||||168,092|133,147|
|Operating
(deficit)/surplus||on|social housing lettings|||7 975|15,824|
|Void losses||||||5,391|6,495|
|All turnover
and expenditure||is|in respect|ofhousing|for older people.|||
|TANGIBLE FIXEDASSETS||||||||
||||||||Freehold|
||||||||Housing|
||||||||Property|
|Cost||||||||
|At 1 January 2023 and 31December 2023|||||||829 160|
|Depreciation||||||||
|At 1 January 2023|||||||76,825|
|Charge for year|||||||10,975|
|At 31December 2023|||||||87,800|
|Net book value||||||||
|At 31Deceruber 2023|||||||141360|
|At 31 December 2022|||||||752,335|
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|INVESTMENTS|||
|---|---|---|
||Cost|Market|
|||Value|
|Endowment
fund|||
|Balance brought
forward|316,568|622,672|
|Additions
in year|0|0|
|Disposals
in year|0|0|
|Accumulated
income|10,603|10,603|
|Change
in market value|0|40 694|
|Balance carried forward|327,171|673,969|
|Cash on deposit at brokers|2|2|
|Total endowment
funds|327,173|673,971|
|Extraordinary
repairs fund|||
|Balance brought
forward|181,522|192,366|
|Additions
in year|21,600|21,600|
|Disposals
in year|0|0|
|Accumulated
income|7,903|7,903|
|Change
in market value|0|5015|
|Balance carried forward|211 025|226 884|
|At 31December 2023|538,198|900855|
|At 31December 2022|498,097|815,045|
||DUE WITH|IN ONE YEAR|||
|---|---|---|---|---|
||||2023|2022|
||Contribution|arrears|1713|3,368|
||Prepayments|and accrued income|16908|6,047|
||||18621|9415|
|7.|CREDITORS: AMOUNTS FALLING||||
||DUE WITHIN ONE YEAR||||
||||2023|2022|
||||f.||
||Contributions|paid in advance|5,493|5,193|
||Accrued expenses||4,355|3,927|
||Deferred income||2,598|2,598|
||||12,446|11,718|
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|DUE AF|TER MORE THAN ONE YEAR|||
|---|---|---|---|
|||2023|2022|
|Deferred|income|159 831|162,429|
|||159831|162,429|
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|RESTRICTED FUNDS||||
|---|---|---|---|
|||2023|2022|
|ENDO JFME1VTRESERVE||||
|Brought forward||629,586|646,331|
|Net transfers
from income and expenditure|reserve|10,603|10,122|
|Movement
in fair value||40694|~26 867)|
|Carried forward||680 883|629,586|
|RESTRICTED RESERVE||||
|---|---|---|---|
|Brought forward||192,366|169,098|
|Net transfers
&om income and expenditure|reserve|29,503|28,349|
|Movement
in fair value||5,015|~5,081|
|Carried forward||226,884|192,366|
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|ASH FLOW FROM OPER|ATING ACTIVITIES|||
|---|---|---|---|
|||2023|2022|
|Surplus
/ (deficit) for the year||72,409|2,769|
|Amortised
housing
grant||(2,598)|(2,598)|
|Depreciation oftangible fixed|assets|10,975|10,975|
|(Decrease) / Increase in creditors||728|(417)|
|Decrease / (Increase) in debtors||(9,206)|(866)|
|Dividends
receivable||(34,675)|(18,893)|
|Movement
in fair value offixed asset investments||(45,709)||
|31,948||||
|Net cash flow from operating|activities|~8,076)|22,918|
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||At 01.01.23|Cash flow|At 31.12.23|
|---|---|---|---|
|Net cash||||
|Cash and cash equivalents|88,774|(13,507)|75,267|
||88,774|(13,507)|75,267|
|Total|88,774|(13,507)|75,267|
##
|FINANCIAL INSTRUME|N|TS||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||2023||2022|
|The carrying
amounts ofthe||charity's|financial||instruments|are|as follows:|||||
|Financial assets||||||||||||
|Measured
at fair value through
the statement ofcomprehensive|||||||income:|||||
|-Fixed asset listed investments
(note|||5)||||||900,855||815045|
|Debt instruments
measured||at amortised||cost:||||||||
|- Other debtors (note 6)|||||||||1,713||3,368|
|Financial liabilities||||||||||||
|Measured
at amortised cost:||||||||||||
|—Other creditors (note 7)|||||||||9848||9,120|
|The income, expenses, net|gains and net|||losses attributable||to the|charity's|financial|instruments|are as follows:||
|Income and expense||||||||||||
|Financial assets measured|at fair value||through||the|||||||
|statement ofcomprehensive||income:|||||||20,133||16,007|
|Net gains and losses (including
changes||||infair|value)|||||||
|Financial assets measured|at fair value||through||the|||||||
|statement ofcomprehensive||income:|||||||45,709||~31,948|
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|PERATING COST|S|||||||
|---|---|---|---|---|---|---|---|
|||||||2023|2022|
|Management
costs||||||||
|Property
insurance||||||3,850|3,408|
|Subscriptions||||||582|333|
|Fee for right ofway||||||150|150|
|Management
charges||||||27,600|27,600|
|Auditors'
remuneration||||||2,016|1,920|
|Auditors'
remuneration|||—non audit work|||1,356|1,290|
|Legal and professional||fees||||1,475|2,886|
|Bank charges||||||240||
|||||||37269|37,587|
|Service costs||||||||
|Water rates||||||7,816|6,432|
|Council tax on empty|properties|||||1,599|1,347|
|Light &heat on empty properties||||||373|1,242|
|Sundry expenses||||||994|937|
|Lighting ofcommon|areas|||||2,000|1,668|
|Warden's
light and heat||||||2,330|1,382|
|Warden's
telephone||||||1,382|1,362|
|Warden's
council tax||||||1,404|1,336|
|Warden's
water rates||||||166|114|
|Warden's
Christmas|box gift|||||250|250|
|Warden call system||||||1,823|1,634|
|Cleaning||||||2,330|2,305|
|Garden maintenance||||||3,820|3,980|
|||||||26,287|24,019|
|Day to day repairs and|||maintenance|||||
|Repairs and servicing|to||boilers|||2,243|3,370|
|Gas safety check and|servicing|||||3,570|3,468|
|Plumbing
repairs||||||5/08|3,763|
|Warden call maintenance||||||3,790|3,697|
|Redecoration
and refurbishment|||||offlats|48,296|32,789|
|Fire extinguisher
servicing||||and replacements||845|606|
|Electrical repairs||||||11,098|7,234|
|General repairs||||||18,411|5,629|
|||||||93 561|60,556|