2020-12-31-accounts

Contents
						Page
Report of the Trustee
Independent auditor's	report	to the Trustee of The Society of Merchant	Venturers'	Almshouse	Charity	8
Statement of comprehensive		income				11
Balance sheet						12
Principal accounting	policies					13
Notes to the financial	statements					15

or the year e	nd	ed 31	Dece	mber 2020	mber 2020
				Notes			2020		2019
Turnover
Rental income						98,724		96,082
Services charges						6,082		5,681
Less: Rent losses from voids						(19,768)		(2,833)
Net contribution							85,038		98,930
Other rental income							40,600		38,008
							125,638		136,938
Operating costs
Services						42,027		50,747
Management				16	&17	16,299		15,806
Routine maintenance						31,794		39,963
Depreciation						17,066		16,677
							(107,186)		(123,193)
Operating surplus							18,452		13,745
Unrealised (loss)/gain		on investments			8		(288,533)		435,479
Unrealised gain on	investments		of
designated reserves				10	& 14		27,418		49,498
Net (deficit)/surplus							(242,663)		498,722
Interest receivable	and other
income							101,679		120,382
Interest payable and similar
expenses							(552)		(678)
Total comprehensive		(deficit)/income		for the year			(141,536)		618,426

t 31 Decemb	er	2020
			Notes	F	2020	f	E	2019
Fixed assets
Housing properties				307,392			324,458
Less: Social Housing		Grant		(278,680)			(278,680)
					28,712			45,778
Investments					1,063,928			1,165,425
Total fixed assets					1,092,640			1,211,203
Current assets
Debtors			9	26,724			35,413
Investments			8	1,824,005			2,006,241
Extraordinary repair reserve
investments			10	308,696			280,048
Cash at bank and	in hand			712,413			567,765
				2,871,838			2,889,467
Creditors: amounts		falling due
within one year				(29,139)			(23,795)
Net current assets					2,842,699			2,865,672
Net assets					3,935,339			4,076,875
Capital and reserves
Capital account			12	263,976			259,176
Investment revaluation		reserve	13	998,757			1,287,290
Extraordinary repair reserve			14	308,696			280,048
Revenue reserve			15	2,363,910			2,250,361
Total capital and	reserves				3,935,339			4,076,875

Int	erest receivable and other i	ncome
		2020f	2019 6
Investment	income	100,755	118,248
Other income		924	2,134
		101,679	120,382

	Inter	est	payable and similar charg	es
				2020	2019
				5
Bank	interest	and	charges	552	678
				552	678

for the year e	for the year e	nded 31 Dec	nded 31 Dec	ember 2020
6 Surplus		on ordinary		activities
					2020	2019
Surplus on	ordinary	activities	is stated	after charging:
Audit fee					5,316	5,316
Depreciation	on owned assets				17,066	16,677

7 Fixed ass	ets —Almsh	ouses
		Building	Colston's	Fixtures
		Improvements	Almshouse f	and fittings	Total f
Cost
At 1 January 2020		164,744	265,287	26,522	456,553
Additions
Disposals
At 31 December 2020		164,744	265,287	26,522	456,553
Accumulated depreciation
At 1 January 2020		107,834		24,261	132,095
Charge for the year		16,476		590	17,066
Disposals
At 31 December 2020		124,310		24,851	149,161
Net book value
At 31 December 2020		40,434	265,287	1,671	307,392
At 31 December 2019		56,910	265,287	2,261	324,458
Less: Social Housing	Grant				(278,680)
					28,712

Fixed asset investment
	2020	2019
Market value
At 1 January	1,165,425	1,000,609
Additions at cost	4,800	4,800
Revaluation	(106,297)	160,016
At 31 December	1,063,928	1,165,425
Historical cost	259,176	254,376
Current asset investment
	2020	2019
Market value	F
At 1 January	2,006,241	1,730,778
Additions at cost
Revaluation	(182,236)	275,463
At 31 December	1,824,005	2,006,241
Historical cost	1,630,000	1,630,000

			2020f	2019f
Amounts	falling due within one year:
Rent			1,279	1,113
Other debtors			21,060	29,889
Prepayments		and accrued income	4,385	4,411
			26,724	35,413

eserve must be approved by the Trustee and income ari eserve. The investments are stated at their market value 69,304(2019:F68,074).	sing from the investments is accumulated on 31 December 2020. Their historical	in the cost is
Market value	2020f	2019
At 1 January	280,048	229,320
Additions at cost	1,230	1,230
Revaluation to market value	27,418	49,498
At 31 December	308,696	280,048

			2020f	2019
Other creditors			13,122	9,884
Accruals	and deferred	income	16,017	13,911
			29,139	23,795

for the year ended 31 Dece	mber 2020
12 Capital account
At 1 January 2020		259,176
Transfer from income and expenditure	account	4,800
At 31 December 2020		263,976

3 Inve	stment revaluation rese	rve
		Current
		asset	Fixed asset
		investment	Investment	Total
		f	8	K
At 1 January	2020	376,241	911,049	1,287,290
Revaluation	to market value	(182,236)	(106,297)	(288,533)
At 31 December 2020		194,005	804,752	998,757

At 1 January 2019		280,048
Transfer from income and expenditure	account	1,230
Investment revaluation for year		27,418
At 31 December 2020		308,696
5 Revenue reserve
At 1 January 2020		2,250,361
Surplus on ordinary activities for year		119,579
Transfer to extraordinary repair reserve		(1,230)
Transfer to capital account		(4,800)
At 31 December 2020		2,363,910