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





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|<br>or the year e|<br>nd|<br>ed 31|<br> Dece|<br>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<br>surplus||||||23,188||18,452|
|Unrealised<br>gain/(loss)||on investments||8||193,943||(288,533)|
|Unrealised<br>gain on|investments||of||||||
|designated<br>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<br>and similar|||||||||
|expenses||||||(430)||(552)|
|Total comprehensive||income/(deficit)||for the year||364,079||(141,536)|





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||||Notes||2021||2020|
|---|---|---|---|---|---|---|---|
|Fixed assets||||||||
|Housing<br>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<br>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<br>revaluation||reserve|13|1,192,700||998,757||
|Extraordinary<br>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|





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



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





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



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|Fixed assets —Almsh|ouses||||
|---|---|---|---|---|
||Building|Land and|Fixtures||
||improvementsf|buildings<br>6|and fittings<br>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<br>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|





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|8<br>Investments|||
|---|---|---|
|Fixed asset investment|||
||2021|2020|
|Market value||6|
|At 1 January|1,063,928|1,165,425|
|Additions<br>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<br>at cost|||
|Revaluation|122,290|(182,236)|
|At 31 December|1,946,295|1,824,005|
|Historical cost|1,630,000|1,630,000|



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||||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|





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



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





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



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|3<br>Inve|stment<br>revaluation<br>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|





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




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