| Page | ||||
|---|---|---|---|---|
| Significant | information | |||
| Trustees' | report | 3-5 | ||
| Independent | Examiner's report |
|||
| Statement | of | Comprehensive | Income | |
| Statement | of | Changes in Reserves |
||
| Statement | of | Financial Position | ||
| Statement | of | Cash Flows | 10 | |
| Notes to the | Financial Statements | 11-18 | ||
| The following page does not form part ofthe Statutory accounts |
||||
| Apportionment | ofexpenses | 19 |
| Trustees | |||||
|---|---|---|---|---|---|
| Chairman | His Grace the Duke ofSomerset FRICS | ||||
| Chairman | - Executive Committee | Mrs A E Oliver'" | |||
| Chairman | - Finance | and Building Committees | Mr M Gibson'" | ||
| Chairman | -Pastoral | Committee | Mrs A Pearson-Gregoryce | ||
| Other trustees | Mr C Cooke'" | ||||
| Mr R Nocton4 | |||||
| Dr R Owen-Jones"' | |||||
| Mrs J Cowley' | |||||
| Mr N Loweth' | |||||
| Mrs H Geary' | |||||
| ' Executive Committee ' Finance Committee ' Pastoral Committee ' Building Committee |
Members Members Members Members |
||||
| Officers | |||||
| Steward | Mrs L Caterer | ||||
| Warden | Mrs E Holborow | ||||
| Address | Duchess ofSomerset's | Hospital | |||
| Froxfield | |||||
| Wiltshire | |||||
| SN8 3LA | |||||
| Charity Number | 202650 | ||||
| Homes England | Number | A3036 |
| Notes | Notes | 2021 | 2020 | |||
|---|---|---|---|---|---|---|
| (as restated) | ||||||
| F | ||||||
| TURNOVER | ||||||
| Income | ||||||
| Maintenance contributions |
from residents | 255,192 | 249,900 | |||
| Less: Losses from voids | (12,325) | (10,973) | ||||
| 242,867 | 238,927 | |||||
| OPERATING INCOME | 41,881 | 15,404 | ||||
| OPERATING EXPENDITURE | ||||||
| Services | 133,482 | 126,592 | ||||
| Management Repairs and servicing Extraordinary maintenance Depreciation Deficit / (surplus) on disposal oftangible assets |
39,099 39,336 54,506 32,825 |
40,483 35,573 45,761 31,300 (2,289) |
||||
| (299,248) | (277,420) | |||||
| OPERATING DEFICIT | (14,500) | (23,089) | ||||
| Surplus / (deficit) on investment disposals Release ofdeferred capital grant re property Release ofdeferred capital grant re plant |
6,184 3,960 2,880 |
(17,433) 3,960 2,880 |
||||
| Deficit on ordinary activities |
before interest and | taxation | (1,476) | (33,682) | ||
| Interest receivable and other income |
28,059 | 21,194 | ||||
| Investment expenses |
(2,487) | (2,855) | ||||
| SURPLUS/(DEFICIT) FOR THE YEAR | 6 | 24,096 | (15,343) | |||
| Unrealised surplus /(deficit) |
on investments | 77,153 | (14,329) | |||
| TOTAL COMPREHENSIVE | (DEFICIT) / INCOME | FOR | THE YEAR | 101,249 | (29,672) |
| Investments | Investments | |||||
|---|---|---|---|---|---|---|
| revaluation | realised | Unrestricted | ||||
| reserve | reserve | general fund |
2021 | |||
| 6 | 6 | |||||
| Brought forward as at 1 January 2021 as previously | 155,768 | 372,222 | 536,062 | 1,064,052 | ||
| stated | ||||||
| Prior year adjustments (note 15) |
169,633 | 169,633 | ||||
| Brought forward as at 1 January 2021 as restated | 155,768 | 372,222 | 705,695 | 1,233,685 | ||
| Surplus for the year | 24,096 | 24,096 | ||||
| Transfer from Investments | revaluation | reserve | (5,312) | 5,312 | ||
| Transfer to Investment realised reserve |
6,183 | (6,183) | ||||
| Unrealised loss in the year |
77,153 | 77,153 | ||||
| Carried forward as at 31 December 2021 | 227,609 | 383,717 | 723,608 | 1,334,934 | ||
| Note 14 | ||||||
| Investments | Investments | |||||
| revaluation | realised | Unrestncted | ||||
| reserve | reserve | general fund |
2020 | |||
| (as restated) | (as restated) | |||||
| 6 | F | |||||
| Brought forward as at 1 January 2020 | 204,965 | 354,787 | 703,605 | 1,263,357 | ||
| Deficit for the year | (15,343) | (15,343) | ||||
| Transfer from Investments | revaluation | reserve | (34,868) | 34,868 | ||
| Transfer to Investment realised reserve |
(17,433) | 17,433 | ||||
| Unrealised gain in the year |
(14,329) | (14,329) | ||||
| Carried forward as at 31 December 2020 | 155,768 | 372,222 | 705,695 | 1,233,685 |
| Notes | 2021 | 2020 | |||||
|---|---|---|---|---|---|---|---|
| (as restated) | |||||||
| 6 | 8 | ||||||
| FIXEDASSETS | |||||||
| Housing properties |
628,988 | 470,864 | |||||
| Other fixed assets | |||||||
| Cost | 8 | 372,172 | 368,516 | ||||
| Less: Accumulated | depreciation | 8 | (257,100) | (232,276) | |||
| 115,072 | 136,240 | ||||||
| Investments | 759,690 | 821,084 | |||||
| 1,503,750 | 1,428,188 | ||||||
| CURRENT ASSETS | |||||||
| Trade and other debtors | 10 | 57,057 | 12,113 | ||||
| Cash at bank and in |
hand | 11 | 53,557 | 73,636 | |||
| 110,614 | 85,749 | ||||||
| Less: | |||||||
| Creditors: Amounts | falling due within one | ||||||
| year | 12 | (28,423) | (22,405) | ||||
| NET CURRENT ASSETS | 82,191 | 63,344 | |||||
| TOTAL ASSETS LESS | CURRENT LIABILITIES | 1,585,941 | 1,491,532 | ||||
| CREDITORS: Amounts | falling due after more | than | |||||
| one year | 13 | (251,007) | (257,847) | ||||
| NET ASSETS | 1,334,934 | 1,233,685 | |||||
| CAPITAL AND RESERVES | |||||||
| Income and expenditure | account | 14 | 723,608 | 705,695 | |||
| Investments realised |
reserve | Page 8 | 383,717 | 372,222 | |||
| Investments revaluation |
reserve | Page 8 | 227,609 | 155,768 | |||
| 1,334,934 | 1,233,685 |
| 2021 | 2020 | ||
|---|---|---|---|
| (as restated) | |||
| 6 | |||
| Net cash generated from operating activities (See Note 1) |
(18,122) | 12,568 | |
| Cash flow from investing activities |
|||
| Purchase oftangible fixed assets Proceeds from sale offixed assets |
(169,781) | (176,732) 2,500 |
|
| Purchase ofinvestments | (18,179) | (2,384) | |
| Proceeds from sale of investments Investment income received |
51,380 23,094 |
160,901 19,159 |
|
| Net change in cash and cash equivalents |
(131,608) | 16,012 | |
| Cash and cash equivalents at beginning |
ofthe year | 187,120 | 171,108 |
| Cash and cash equivalents at end ofthe year |
55,512 | 187,120 | |
| Note 1 | |||
| Cash flow from operating activities |
|||
| Total comprehensive (deficit) / income for the year |
101,249 | (29,672) | |
| Adjustment for noncash items: |
|||
| Unrealised (surplus)/deficit on investment Depreciation oftangible fixed assets (Profit)/loss on disposal oftangible assets Amortisation ofgovernment grants Decrease/(Increase) in trade and other debtors Increase/(decrease) in trade creditors and other creditors |
(77,153) 32,825 (6,840) (44,944) 6,019 |
14,329 31,300 (2,289) (6,840) (1,191) 8,657 |
|
| Adjustments for investing or financing |
activities: | ||
| (Profit)/loss on disposal of investments Investment income receivable |
(6,184) (23,094) |
17,433 (19,159) |
|
| (18,122) | 12,568 | ||
| Note 2 | |||
| Cash and cash equivalents Cash included in investments |
1,955 | 113,484 | |
| Cash at bank and in hand | 53,557 | 73,636 | |
| 55,512 | 187,120 |
| EMPLO | YEE INFORMATION | |||
|---|---|---|---|---|
| 2021 | 2020 | |||
| (as restated) | ||||
| The average weekly number ofpersons | No. | No. | ||
| employed | during the year was- | |||
| Warden | ||||
| Steward | and other staff | |||
| Wages and salaries Social security costs |
44,687 133 |
45,591 709 |
||
| Pension | costs | 1,341 | 1,368 | |
| 46,161 | 47,668 |
| 5. | INTEREST RECEIVABLE | AND OTHE | R IN | C | OME | |||
|---|---|---|---|---|---|---|---|---|
| 2021 | 2020 | |||||||
| (as restated) | ||||||||
| 6 | ||||||||
| Bank deposit interest | 20 | |||||||
| Investment income |
23,094 | 19,139 | ||||||
| 23,094 | 19,159 | |||||||
| Rent from land | 910 | 240 | ||||||
| Other income | 4,055 | 1,795 | ||||||
| 28,059 | 21,194 | |||||||
| Investments are managed |
on atotal return | basis. | ||||||
| 6. | DEFICIT ON ORDINARY | ACTIVITIES | BEFORETAXATION | |||||
| 2021 | 2020 | |||||||
| (as restated) | ||||||||
| Deficit on Ordinary activities before taxation |
6 | |||||||
| is stated after charging- | ||||||||
| Depreciation - Tangible fixed assets | 32,825 | 29,587 | ||||||
| Independent examiners fees (including |
VAT) | |||||||
| In their capacity as independent | examiners | 1,800 | 1,750 | |||||
| In respect of other services | 7,250 | 7,007 | ||||||
| 7. | HOUSING PROPERTIES | - Freehold | ||||||
| Housing | ||||||||
| Properties | ||||||||
| 6 | ||||||||
| COST | ||||||||
| At I January 2021 as restated | 633,894 | |||||||
| Additions | 166,125 | |||||||
| At 31 December 2021 | 800,019 | |||||||
| DEPRECIATION | ||||||||
| At 1 January 2021 as restated | 163,030 | |||||||
| Charge for the year | 8,001 | |||||||
| At 31 December 2021 | 171,031 | |||||||
| NET BOOK VALUE | ||||||||
| At 31 December 2021 | 628,988 | |||||||
| At 31 December 2020 as | restated | 470,864 |
| 10. | DEBTORS | ||||||
|---|---|---|---|---|---|---|---|
| 2021 | 2020 | ||||||
| (as restated) | |||||||
| Arrears ofmaintenance | contributions | 1,958 | 1,424 | ||||
| Prepayments Other debtors |
and accrued | income | 51,353 3,746 |
9,663 1,026 |
|||
| 57,057 | 12,113 | ||||||
| 11. | CASH AT BANK AND | IN | HAND & | CASH EQUIVALENT | |||
| 2021 | 2020 | ||||||
| (as restated) | |||||||
| 8 | |||||||
| General funds | 33,224 | 48,013 | |||||
| Extraordinary Convalescent |
repair fund and benefit |
fund | 13,584 6,749 |
18,874 6,749 |
|||
| 53,557 | 73,636 | ||||||
| 12. | CREDITORS: Amounts |
falling due within one year | |||||
| 2021 | 2020 | ||||||
| (as restated) | |||||||
| Maintenance | contributions | received | in advance | 661 | 350 | ||
| Accruals | 19,096 | 13,423 | |||||
| Other creditors | 1,827 | 1,793 | |||||
| Deferred capital grants Deferred capital grants |
re re |
property plant |
3,959 2,880 |
3,959 2,880 |
|||
| 28,423 | 22,405 | ||||||
| 13. | CREDITORS: Amounts |
falling due after more than one year | |||||
| 2021 | 2020 | ||||||
| (as restated) | |||||||
| 6 | |||||||
| Deferred capital grants Deferred capital grants |
re re |
property plant |
242,355 8,652 |
246,315 11,532 |
|||
| 251,007 | 257,847 |
| UNRESTRICTEDGENERALFUND | ||||||
|---|---|---|---|---|---|---|
| DDiD t dF |
d | |||||
| Income | Extra- Convales- |
|||||
| & | ordinary cent and |
|||||
| Expenditure | Repairs Benefits |
|||||
| Account | Reserve | Fund | 2021 | |||
| K | E | 8 | K | |||
| Balance at 1 January 2021 as previously | 198,943 | 330,370 | 6749 | 536,062 | ||
| stated Prior year adjustments (note 15) |
(1,713) | 171,346 | 169,633 | |||
| Surplus for the year Transfer to Investment realised reserve |
197,230 24,096 (6,183) |
501,716 | 6,749 | 705,695 24,096 (6,183) |
||
| Transfer from Income & expenditure | account | (7,1 01) | 7,101 | |||
| Balance at 31 December 2021 | 208,042 | 508,817 | 6,749 | 723,608 | ||
| Transfer from/(to) Income &expenditure Repair provision transfers Investment income |
account | 41,000 23,094 |
41,000 23,094 |
|||
| Investment expenses Less: Expenditure |
(2,487) (54,506) |
(2,487) (54,506) |
||||
| 7,101 | 7,101 | |||||
| ~Di tdF |
d | |||||
| Income | Extra- Convales- |
|||||
| 8 | ordinary cent and |
|||||
| Expenditure Account |
Repairs Benefits Reserve Fund |
2020 | ||||
| (as restated) F |
(as restated) (as |
restated) E |
(as restated) 5 |
|||
| Balance at 1 January 2020 Deficit for the year Transfer to Investment realised reserve |
206,663 (15,343) 17,433 |
490193 | 6749 | 703,605 (15,343) 17,433 |
||
| Transfer from Income & expenditure | account | (11,523) | 11,523 | |||
| Balance at 31 December 2020 | 197,230 | 501,716 | 6,749 | 705,695 | ||
| Transfer from/(to) Income 8 expenditure Repair provision transfers Investment income |
account | 41,000 19,139 |
41,000 19,139 |
|||
| Investment expenses Less: Expenditure |
(2,855) (45,761) |
(2,855) (45,761) |
||||
| 11,523 | 11,523 |
| 2021 | 2020 | ||||||
|---|---|---|---|---|---|---|---|
| Manage- | Manage- | ||||||
| Totalf | Services f |
mentf | Totalf | Services f |
ment f |
||
| SALARIES AND STAFF EXPENSES | |||||||
| Warden (75'/0 '.25'/o) |
25,394 | 19,046 | 6,348 | 26,174 | 19,631 | 6,543 | |
| Steward &secretarial |
20,767 | 20,767 | 21,493 | 21,493 | |||
| Chaplain Warden call cover |
3,184 7,851 |
3,184 7,851 |
3,790 7,938 |
3,790 7,938 |
|||
| ESTABLISHMENT EXPENSES | |||||||
| Central heating fuel | 41,740 | 41,740 | 38737 | 38737 | |||
| Property insurance General and water rates |
10,191 2,731 |
10,191 2,731 |
9,555 2,920 |
9,555 2,920 |
|||
| Electricity charges Garden expenses Website and computer costs |
14,382 20,423 351 |
14,382 20,423 351 |
10,040 18,222 392 |
10,040 18,222 392 |
|||
| GENERAL EXPENSES | |||||||
| Convalescent contributions |
etc. | 1,597 | 1,597 | 2,917 | 2,917 | ||
| Telephone charges less receipts Accountancy Administration and stationery Generalexpenses Professional fees |
3,575 9,050 614 3,333 6,798 |
1,788 4,525 307 1,667 3,399 |
1,787 4,525 307 1,666 3,399 |
3,307 8,757 408 6,708 5,117 |
1,654 4,379 204 3,354 2,559 |
1,653 4,378 204 3,354 2,558 |
|
| Trustee expenses | 600 | 300 | 300 | 600 | 300 | 300 | |
| TOTAL EXPENSES | 172,581 | 133,482 | 39,099 | 167,075 | 126,592 | 40,483 |