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|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|
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|
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|
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|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|
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|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|
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|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|
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|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|
##
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||||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|
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|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|
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