2021-12-31-accounts

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

or the year e	nd	ed 31	Dece	mber 2021
				Notes		2021		2020
Turnover
Rental income					100,845		98,724
Services charges					6,080		6,082
Less: Rent losses from voids					(12,427)		(19,768)
Net contribution						94,498		85,038
Other rental income						41,037		40,600
						135,535		125,638
Operating costs
Services					42,619		42,027
Management				16&17	16,774		16,299
Routine maintenance					36,002		31,794
Depreciation					16,952		17,066
						(112,347)		(107,186)
Operating surplus						23,188		18,452
Unrealised gain/(loss)		on investments		8		193,943		(288,533)
Unrealised gain on	investments		of
designated reserves				10 & 14		53,666		27,418
Net surplus/(deficit)						270,797		(242,663)
Interest receivable	and other
income						93,712		101,679
Interest payable and similar
expenses						(430)		(552)
Total comprehensive		income/(deficit)		for the year		364,079		(141,536)

			Notes		2021		2020
Fixed assets
Housing properties					11,760		28,712
Investments					1,140,381		1,063,928
Total fixed assets					1,152,141		1,092,640
Current assets
Debtors				34,991		26,724
Investments				1,946,295		1,824,005
Extraordinary repair reserve
investments			10	363,592		308,696
Cash at bank and	in hand			831,091		712,413
				3,175,969		2,871,838
Creditors: amounts		falling due
within one year				(28,690)		(29,139)
Net current assets					3,147,279		2,842,699
Net assets					4,299,420		3,935,339
Capital and reserves
Capital account			12	268,776		263,976
Investment revaluation		reserve	13	1,192,700		998,757
Extraordinary repair reserve			14	363,592		308,696
Revenue reserve			15	2,474,352		2,363,910
Total capital and	reserves				4,299,420		3,935,339

Int	erest receivable and other i	ncome
		2021	2020
			E
Investment	income	93,566	100,755
Other income		146	924
		93,712	101,679

	Inter	est	payable and similar charg	es
				2021	2020
				E	E
Bank	interest	and	charges	430	552
				430	552

Sur	plus	on ordi	nary activities
				2021	2020
				6
Surplus on	ordinary	activities	is stated after charging:
Audit fee				5,316	5,316
Depreciation	on owned assets			16,952	17,066

Fixed assets —Almsh	ouses
	Building	Land and	Fixtures
	improvementsf	buildings 6	and fittings 8	Totalf
Cost
At 1 January 2021	164,744	265,287	26,522	456,553
Additions
Disposals
At 31 December 2021	164,744	265,287	26,522	456,553
Accumulated depreciation
At 1 January 2021	137,703	265,287	24,851	427,841
Charge for the year	16,476		476	16,952
Disposals
At 31 December 2021	154,179	265,287	25,327	444,793
Net book value
At 31 December 2021	10,565		1,195	11,760
At 31 December 2020	27,041		1,671	28,712

8 Investments
Fixed asset investment
	2021	2020
Market value		6
At 1 January	1,063,928	1,165,425
Additions at cost	4,800	4,800
Revaluation	71,653	(106,297)
At 31 December	1,140,381	1,063,928
Historical cost	263,976	259,176
Current asset investment
	2021	2020
Market value		6
At 1 January	1,824,005	2,006,241
Additions at cost
Revaluation	122,290	(182,236)
At 31 December	1,946,295	1,824,005
Historical cost	1,630,000	1,630,000

			2021	2020
			F	6
Amounts	falling due within one year:
Rent			8,042	1,279
Other debtors			23,808	21,060
Prepayments		and accrued income	3,141	4,385
			34,991	26,724

		2021	2020
Market value		6
At 1 January		308,696	280,048
Additions at	cost	1,230	1,230
Revaluation	to market value	53,666	27,418
At 31 December		363,592	308,696

		2021	2020
Other creditors		14,074	13,122
Accruals and deferred	income	14,616	16,017
		28,690	29,139

At 1 January 2021		263,976
Transfer from income and expenditure	account	4,800
At 31 December 2021		268,776

3 Inve	stment revaluation rese	rve
		Current
		asset	Fixed asset
		investment	investment	Total
			6
At 1 January	2021	194,005	804,752	998,757
Revaluation	to market value	122,290	71,653	193,943
At 31 December 2021		316,295	876,405	1,192,700

4 Extraordinary repair r	eserve
At 1 January 2020		308,696
Transfer from income and expenditure	account	1,230
Investment revaluation for year		53,666
At 31 December 2021		363,592
5 Revenue reserve
At 1 January 2021		2,363,910
Surplus on ordinary activities for year		116,472
Transfer to extraordinary repair reserve		(1,230)
Transfer to capital account		(4,800)
At 31 December 2021		2,474,352