2021-12-31-accounts - Exeter Homes Trust

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Key Stakeholder	Key Stakeholder				Our Understanding of Stakeholder's	Our Understanding of Stakeholder's	Our Understanding of Stakeholder's
					Expectation
Residents-	housing				Safe, secure home maintenance	of s	vibrant
					community, responsive repairs.
Staff					Secure job in a supportive environment.
HE —Regulator/Investor			Regulator for		Delivery to the Homes England/Regulator		of
for Social Housing					Social Housing standards and	a financially
					stable organisation.
Charity Commission		—regulator			Delivery of our charitable objectives,		is our
					mission, demonstration of public	benefit	snd s
					financially stable organisation.
Almshouse	Consortium		Ltd		Continually deliver remodelling	progrsmmes
					funded by Homes England Grants.
Larger Almshouse		Charity Network		Group	Provide an experienced and professional		voice
					on the management ofAlmshouse	Charities.
Exeter City	Council	Ei Devon County Council			Delivery of housing support	that	is in
					accordance with local strategies	and	meet
					required standards.
Almshouse	Association				Exeter Homes Trust is one of	the	largest
					Almshouse charities in membership		of the
					Almshouse Association.

			4
	2	1.5	41.33
	5	4.4	32.50
74	3	2.4	30.83
	3	2.3	28.69
	10	9	27.77
	4	5.7	25.96
	5	2.4	25.83
102	5	4	25.50
80	4	3.2	25.00
61	3	3	20.33
	3	2.5	19.60
160	10	9.1	17.58
	7	5.3	11.69
	11	11	11.83
	3	2.8	9.61
	8	8	8.25
70	18	10.5	6.66
	12	10	8.30

Turnover			Notes	2021f	2020f
				804,749	663,927
Income from investmsnts				380	890
Operating costs				(574,623)	(585,218)
Impairment loss			12
Other income				22,976	20,078
Operating Surplus/(Deficit)				253,482	99,677
Loss on disposal	offixed assets		12		(448,588)
Dividends and interest receivable				26,679	27,186
Interest payable				(18,216)	(7,731)
Net gains/(losses)	on invsstmsnts		13	109,877	(13,659)
Comprehensive	income /(expenditure)	for year		371,822	(343,115)

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		BALANCE	SHEETAT	31DECEMBE	R2021
			Notes		2021f		2020f
RXEDASSETS
Tangible Assets			'l2		9,460,472		9,586,807
Investments			13		1,109,580		1,023,687
TOTAL RXEDASSETS					10,570,052		10,610,494
CURRENT ASSETS
Debtors			14	23,661		31,495
Cash at bank snd in	hand		15	780,969		460,230
				804,630		491,725
CREDITORS: amounts		falling due
within one year			16	113,089		163,792
NET CURRENT ASSETS					691,541		327,933
TOTAL ASSETSLESS
CURRENT UASIUTIES					11,261,593		10,938,427
CREDITORS: amounts		falling due after
more then one year			17		1,881,118		1,929,774
NET ASSETS					9,380,475		9,008,653
THE FUNDS OFTHE	CHARITY
Unrestricted funds	-	General	20		2,037,958		1,681,074
Restricted funds	-	Endowment	20		7,342,517		7,327,579
					9,380,475		9,008,653

				2021	2020
			Notes		E
NET CASH FLOW FROM OPERATING	ACTIVITIES			163,926	48,957
CASH FLOW FROM INVESllNG ACTIVITIES
Purchase oftangible fixed assets				(84,531)	(1,645,960)
Purchase ofinvestments				(345,931)	(159,103)
Proceeds from the sale of investments				369,9170	1,015,983
Grants received				210,000	210,000
Interest received				136	5
Dividends received				26,543	27,181
NET CASH FLOW FROM INVESTING	ACTIVmES			176,126	(551,894)
CASH FLOW FROM FINANCING ACTIVITIES
Interest paid				(18,216)	(7,731)
Repavment of borrowing				(1,097)	(2,146)
Cash inflows from new borrowings					700,000
NET CASH FLOW FROM FINANCING	ACTIVITIES			(19,313)	690,123
CHANGE IN CASH AND CASH EQUIVALENTS		IN THE
REPORTING PERIOD				320,739	187,186
CASH AND CASH EQUIVALENTS AT	THE BEGINNING
OFTHE REPORTING PERIOD				460,230	273,044
TOTAL CASH AND CASH EQUIVALENTS ATTHE YEAR
END			2	780,969	460,230

RECONCIUATION OF CO ACTIVITIES	MPR	EHENSIVE INCOME TO NET	CASH FLOW FROM	OPERATING
			2021	2020
			8
CASH FLOWS FROM OPERATING ACTIVITIES
Surplus/(deficit) forthe year			371,822	(343,115)
Adjustments for.
Depreciation oftangible	fixed assets		210,865	202,091
(Increase)/decrease in debtors			7,834	(7,602)
Increase/(decrease) in creditors			(72,388)	(212,306)
Carrying amount oftangible		fixed asset disposals		448,588
Government grants utilissd		in the year	(235,874)	(32,903)
Interest payable			18,216	7,731
Interest receivable			(136)	(5)
Dividends			(26,543)	(27,181)
Loss/(gain) on investment			(109,870)	13,659
NET CASH FLOW FROM	OPERATING ACTIVITIES		163,926	48,957
ANALYSLS OFCASH AND	CASH EQUIVALENTS
			2021	2020
Cash held at bank			204,005	183,733
Notice deposits (less than 3		months)
Cash held in investmsnt	portfolio		46,823	26,492
			250,828	210,225

2.	TURNOVER	TURNOVER
							2021f	2020 6
	Almshouse		Accommodation			Income
	Maintenance		contributions				810,772	774,988
	Less: Rent	losses from voids					(6,023)	(111,061)
							804,749	663,927
	Income from investments						380	890
3.	OPERATING		SURPLUS/(DERCIT)
							2021	2020f
	Operating	surplus/(deficit)			is	stated after charging:
	Auditors'	remuneration:		In	their capacity as auditors		5,600	5,600
				For financial advice &accountancy			7,120	6,520
	Trustees'	indemnity insurance					329	329
4	DMDENDS		AND INTEREST RECEIVABLE
							2021	2020
								E
	Listed investments						26,543	27,181
	Interest						136	5
							26,679	27,186

INTEREST	PAYABLE
				2021f	2020f
On bank loans, overdrafts		and other loans:
Repayable	wholly or pertly	in mors than	5years	19,085	23,720
Interest capitalised					(14,040)
Adjustment	for onerous loan discounting		(note 17)	(869)	(1,949)
				18,216	7,731

the year wa	s:
		2021	2020
Basic salary		51,729	50,715
Employer's	NIC	5,920	5,792
Pension contributions		1,319	1,314
		58,968	57,821

		2021	2020
		No	No
Gardener		1	1
Manager and assistants		5	7
		2021f	2020f
STAFF COSTS (FOR	THE ABOVE PERSONS)
Wages and salaries		134,423	119,452
Social security costs		6,882	6,882
Employers pension	contributions	2,515	2,515
		143,820	128,849

2. TANGIBLE ASSETS
		Housing	under
	Housingf	Constructionf		Equipmentf	Totalf
Cost
At 1 January 2021	11,057,670		224,638	16,262	11,298,570
Additions			81,616	2,915	$4,531
Interest capitalised
Transfers
Dispossls
At 31 December 2021	11,057,670	306,254		19,177	11,383,101
Depreciation and
Impairment
At 1 January 2021	1,696,410			15,352	1,711,764
Charge for year	209,584			1,281	210,865
Elimination on disposal
At 31 December 2021	1,905,995			16,634	1,922,629
Net BookValue
At 31 December 2021	9,151,675	306,254		2,543	9,460,472
At 31 December 2020	9,361,260	224,638			9,586,807

	Almshouse	Branch	Exeter Relief in Need	Exeter Relief in Need	Exeter Advancement in Life	Exeter Advancement in Life
	2021 f	2020 f	2021 f	2020 f	2021 f	2020 f
8/forward	364,547	352,064	407,249	412,204	251,892	254,958
Additions at cost	25,885	65,952	197,740	57,553	122,306	35,598
Disposals at value	(27,190)	(61,191)	(211,749)	(67,533)	(130,970)	(41,771)
Revaluation
surplus/(deflcitl	37r(11	7,722	44,707	5,024	27,652	3,107
Carried forward	400,753	364,547	437rt47	407,248	270,880	251,892

				NOTES TO THE ACCOUNTS
				AT31DECEMBER 2021
14.	DEBTORS
					2021f	2020 6
	Maintenance	contributions		in arrears	12,514	15,411
	Other debtors	and prepayments			11,147	16,084
	Grants receivable
					23,661	31,495
15.	CASH AT BANK AND IN HAND
					2021f	2020f
	Lloyds Bank —Trustees' account				734,146	433,738
	Brewin Dolphin dealing account				46,823	26,492
					780,969	460,230
16.	CREDITORS:	Amounts	falling due within one year
					2021	2020
					E	E
	Trade creditors				25,799	9,748
	Other taxes and social		security costs		3,231	2,725
	Accruals				37,758	123,194
	Social house	grant- current (nots 18)			22,976	20,078
	Maintenance	contdbutions		in advance	1,640	8,047
	Bankloan				21,685
					113,089	163,792
17.	CREDITORS:	Amounts	falling due after more then one year
					2021f	2020f
	Social Housing Grant (note 18)				1,144,494	1,170,368
	Mortgage				58,309	59,406
	Bank loan (note 19)				678,315	700,000
					1,881,118	1,929,774

DEFERRED CAPITAL G	RANTS
		2021f	2020f
Capital grants b/forward		1,190,446	1,000,524
Capital grants received	in the year		210,000
Released to income in	ths year	(22,976)	(20,078)
HCA Grant c/forward		1,167,470	1,190,446
		2021f	2020f
Amount to be released	within one year	22,976	20,078
Amount to be released	in more than ons year	1,144,494	1,170,368
		1,167,470	1,190,446

			2021	2020f
Amount	due	within one year	21,685
Amount	dus	within two to five year	86,740	95,664
Amount	due	in more than five years	591,575	604,336
			700,000	700,000

UMMARY STATEMENT OF	UMMARY STATEMENT OF	MOVEMENTS	ON FUNDS
2021 MOVEMENTS				Exeter
		Almshouse	Exeter Relief	Advancement
		Branch	in Need	in Ufe	Total
			6	6	6
Restricted Funds - Endowment
Reserves		6,590,369	4,449,162	288,050	7,327,581
Income		22,976			22,976
Expenditure		(227,800)			(227,800)
Gains/(losses)		37,518	44,707	27,652	109,877
Transfers
Reserves carried fonvard		6,423,063	493,869	315,702	7,342,517
Unrestricted	Funds
Reserves		'j,676,883	2,373	1,816	1,881,072
Income		815,146	10,295	6,367	831,808
Expenditure		(351,811)	(8,189)	(5,039)	(365,039)
Gains/(losses)
Transfers
Carried forward		2,140,218	4,479	3,144	2,147,841
TOTAL FUNDS		8.563,281	498,348	318,846	9,380,475

SUMMARY STATEMENT OF	SUMMARY STATEMENT OF	MOVEMENTS	ON FUNDS (co	ntinued)
2020 MOVEMENTS				Exeter
		Almshouse	Exeter Relief	Advancement
		Sranchf	in Needf	in Ufef	Totalf
Restricted Funds - Endowment
At 1 January	2020	7,249,939	444,139		7,979,018
Income		20,078			20,078
Expenditure		(657,858)			(657,858)
Gains/(losses) Transfers		(21,790)	5,024	3,107	(13,659)
At 31December 2020 Unrestricted		6,590,369	449,163	288,047	7,327,579
	Funds
At 1 January	2020	1,369,559	1,464	1,727	1,372,750
Income		673,182	11,824	6,997	692,003
Expenditure		(365,855)	(10,915)	(6,909)	(383,679)
Gains/(losses)
Transfers
At 31December 2020		1,676,886	2373	1,815	1,681,074
TOTAL FUNDS		8,267,255	451,536	289,862	9,008,653

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				2021f	2020f
Extraordinary		Repair	Fund	100,000	100,000
Cyclical	Repair	Fund		50,000	50,000
General	Fund			543486	255,742
				693,886	405,742