| Page | ||||
|---|---|---|---|---|
| Significant | information | 1-2 | ||
| 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 Chairman |
- Executive Committee | His Grace the Duke of Mrs A E Oliver' ' |
Somerset | FRICS | ||
| Chairman | -Finance | and Building Committees | Mr M Gibson"" | |||
| Chairman | -Pastoral | Committee | Mrs A E Oliver'" | |||
| Other trustees | Mr C Cooke'" | |||||
| Mr R Nocton" | ||||||
| Dr ROwendones" | ||||||
| Mrs J Cowley' | ||||||
| Mr N Loweth' | (resigned | 19April 2022) | ||||
| Mrs I-I Geary' |
||||||
| Mrs SCranstone | (appointed | 1 September 2022) | ||||
| ' Executive Committee ' Finance Committee ' Pastoral Committee ' Building Committee |
Members Members Members Members |
|||||
| Officers | ||||||
| Steward | Mrs LCaterer | |||||
| Warden | Mrs E Holborow | |||||
| Address | Duchess ofSomerset's | Hospital | ||||
| Froxfield | ||||||
| Wiltshire | ||||||
| SN8 3LA | ||||||
| Charity Number | 202650 | |||||
| Homes England | Number | A3036 |
| Notes | Notes | 2022 | 2021 | ||||||
|---|---|---|---|---|---|---|---|---|---|
| TURNOVER | |||||||||
| Income | |||||||||
| Maintenance contributions |
from | residents | 263,424 | 255,192 | |||||
| Less: Losses from voids | (3,620) | (12,325) | |||||||
| 259,804 | 242,867 | ||||||||
| OPERATING INCOME | 29,452 | 41,881 | |||||||
| OPERATING EXPENDITURE | |||||||||
| Services | 161,679 | 135,106 | |||||||
| Management | 46,376 | 41,205 | |||||||
| Repairs and servicing | 46,747 | 39,336 | |||||||
| Extraordinary maintenance |
40,324 | 54,506 | |||||||
| Depreciation | 37,661 | 32,825 | |||||||
| Deficit / (surplus) on disposal |
of | tangible assets | |||||||
| (332,787) | (302,978) | ||||||||
| OPERATING SURPLUS / (DEFICIT) | (43,531) | (18,230) | |||||||
| Surplus / (deficit) on investment |
disposals | (966) | 6,184 | ||||||
| Release ofdeferred capital |
grant | re property | 3,960 | 3,960 | |||||
| Release ofdeferred capital |
grant | re plant | 2,880 | 2,880 | |||||
| Surplus / (Deficit) on ordinary |
activities before | interest and taxation | (37,657) | (5,206) | |||||
| Interest receivable and other |
income | 5 | 32,341 | 31,789 | |||||
| Investment expenses |
(2,379) | (2,487) | |||||||
| SURPLUS / (DEFICIT) FOR | THE | YEAR | 6 | (7,695) | 24,096 | ||||
| Unrealised surplus/(deficit) on |
investments | (55,302) | 77,153 | ||||||
| TOTAL COMPREHENSIVE | INCOME / (DEFICIT) |
FOR | THE YEAR | (62,997) | 101,249 |
| Investments | Investments | |||||
|---|---|---|---|---|---|---|
| revaluation | realised | Unrestricted | ||||
| reserve | reserve | general fund | 2022 | |||
| 6 | 6 | 6 | ||||
| Brought forward as at 1 January 2022 | 227,609 | 383,717 | 723,608 | 1,334,934 | ||
| Surplus for the year | (7,695) | (7,695) | ||||
| Transfer from Investments | revaluation | reserve | (4,652) | 4,652 | ||
| Transfer to Investment realised reserve |
(966) | 966 | ||||
| Unrealised loss in the year |
(55,302) | (55,302) | ||||
| Carried forward as at 31 December 2022 | 167,655 | 387,403 | 716,879 | 1,271,937 | ||
| Note 14 | ||||||
| investments | Investments | |||||
| revaluation | realised | Unrestricted | ||||
| reserve | reserve | general fund | 2021 | |||
| 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 |
| Notes | 2022 | 2021 | |||||
|---|---|---|---|---|---|---|---|
| FIXEDASSETS | |||||||
| Housing properties |
620,988 | 628,988 | |||||
| Other fixed assets | |||||||
| Cost | 8 | 431,874 | 372,171 | ||||
| Less: Accumulated | depreciation | 8 | (286,760) | (257,099) | |||
| 145,114 | 115,072 | ||||||
| Investments | 701,317 | 759,690 | |||||
| 1,467,419 | 1,503,750 | ||||||
| CURRENT ASSETS | |||||||
| Trade and other debtors | 10 | 30,086 | 57,057 | ||||
| Cash at bank and in |
hand | 11 | 60,198 | 53,557 | |||
| 90,284 | 110,614 | ||||||
| Less: | |||||||
| Creditors: Amounts | falling due within one | ||||||
| year | 12 | (41,600) | (28,423) | ||||
| NET CURRENT ASSETS | 48,684 | 82,191 | |||||
| TOTAL ASSETS LESS | CURRENT LIABILITIES | 1,516,103 | 1,585,941 | ||||
| CREDITORS: Amounts | falling due after more | than | |||||
| one year | 13 | (244,166) | (251,007) | ||||
| NET ASSETS | 1,271,937 | 1,334,934 | |||||
| CAPITAL AND RESERVES | |||||||
| Income and expenditure | account | 14 | 716,879 | 723,608 | |||
| Investments realised |
reserve | Page 8 | 387,403 | 383,717 | |||
| Investments revaluation |
reserve | Page 8 | 167,655 | 227,609 | |||
| 1,271,937 | 1,334,934 |
| 2022 | 2021 | |||
|---|---|---|---|---|
| Net cash generated from operating activities (See Note 1) |
41,199 | (18,122) | ||
| Cash flow from investing activities |
||||
| Purchase oftangible fixed assets | (59,703) | (169,781) | ||
| Proceeds from sale offixed assets | ||||
| Purchase of investments | (27,236) | (18,179) | ||
| Proceeds from sale ofinvestments | 53,444 | 51,380 | ||
| Investment income received |
23,040 | 23,094 | ||
| Net change in cash and cash etluivalents |
30,744 | (131,608) | ||
| Cash and cash equivalents at beginning |
ofthe year | 55,512 | 187,120 | |
| Cash and cash equivalents at end ofthe |
year | 86,256 | 55,512 | |
| Note 1 | ||||
| Cash flow from operating activities |
||||
| Total comprehensive (deficit) / income for the year |
(62,997) | 101,249 | ||
| Adjustment for noncash items: |
||||
| Unrealised (surplus)/deficit on investment |
55,302 | (77,153) | ||
| Depreciation oftangible fixed assets |
37,661 | 32,825 | ||
| (Profit)/loss on disposal oftangible |
assets | |||
| Amortisation ofgovernment grants |
(6,840) | (6,840) | ||
| Decrease/(Increase) in trade and |
other debtors | 26,971 | (44,944) | |
| Increase/(decrease) in trade creditors and other creditors |
13,176 | 6,019 | ||
| Adjustments for investing or financing |
activities: | |||
| (Profit)/loss on disposal of investments |
966 | (6,184) | ||
| Investment income receivable |
(23,040) | (23,094) | ||
| 41,199 | (18,122) | |||
| Note 2 | ||||
| Cash and cash equivalents | ||||
| Cash included in investments |
26,058 | 1,955 | ||
| Cash at bank and in hand |
60,198 | 53,557 | ||
| 86,256 | 55,512 |
| EMPLO | YEE INFORMATION | ||
|---|---|---|---|
| 2022 | 2021 | ||
| The average weekly number ofpersons | No. | No. | |
| employed | during the year was- | ||
| Warden | |||
| Steward | and other staff | ||
| Wages and salaries | 50,911 | 44,687 | |
| Social security costs | 4,996 | 3,863 | |
| Pension | costs | 1,527 | 1,341 |
| 57,434 | 49,891 |
| 5. | INTEREST RECEIVABLE | AND OTHE | R INC | OME | |||
|---|---|---|---|---|---|---|---|
| 2022 | 2021 | ||||||
| Bank deposit interest | 133 | ||||||
| Investment income |
22,907 | 23,094 | |||||
| 23,040 | 23,094 | ||||||
| Rent from land | 755 | 910 | |||||
| Other income | 8,546 | 7,785 | |||||
| 32,341 | 31,789 | ||||||
| Investments are managed |
on a total return basis. | ||||||
| 6. | DEFICIT ON ORDINARY | ACTIVITIES | BEFORE TAXATION | ||||
| 2022 | 2021 | ||||||
| Deficit on Ordinary activities before taxation |
|||||||
| is stated after charging- | |||||||
| Depreciation - Tangible fixed assets | 37,661 | 32,825 | |||||
| Independent examiners fees (including |
VAT) | ||||||
| In their capacity as independent | examiners | 1,845 | 1,800 | ||||
| In respect ofother services | 7,433 | 7,250 | |||||
| 7. | HOUSING PROPERTIES | - Freehold | |||||
| Housing | |||||||
| Properties | |||||||
| 6 | |||||||
| COST | |||||||
| At 1 January 2022 as restated | 800,019 | ||||||
| Additions | |||||||
| At 31 December 2022 | 800,019 | ||||||
| DEPRECIATION | |||||||
| At 1 January 2022 as restated | 171,031 | ||||||
| Charge for the year | 8,000 | ||||||
| At 31 December 2022 | 179,031 | ||||||
| NET BOOK VALUE | |||||||
| At 31 December 2022 | 620,988 | ||||||
| At 31 December 2021 as restated | 628,988 |
| OTHER FIXEDASSETS | ||||
|---|---|---|---|---|
| Plant and | Fixtures and | |||
| machinery | fittings | Total | ||
| 8 | 6 | 6 | ||
| COST | ||||
| At 1 January 2022 as restated | 309,256 | 62,915 | 372,171 | |
| Additions | 18,671 | 41,032 | 59,703 | |
| Disposals | ||||
| At 31 December 2022 | 327,927 | 103,947 | 431,874 | |
| DEPRECIATION | ||||
| At 1 January 2022 as restated | 219,304 | 37,795 | 257,099 | |
| Charge for the year | 21,634 | 8,027 | 29,661 | |
| Disposals | ||||
| At 31 December 2022 | 240,938 | 45,822 | 286,760 | |
| NET BOOK VALUE | ||||
| At 31 December 2022 | 86,989 | 58,125 | 145,114 | |
| At 31 December 2021 | 89,952 | 25,120 | 115,072 | |
| FIXEDASSET INVESTMENTS | ||||
| 2022 | 2021 | 2022 | 2021 | |
| E | E | f | E | |
| Market | value | Cost | ||
| Share porffolio at 31 December | 675,259 | 757,735 | 507,604 | 530,126 |
| Cash held | 26,058 | 1,955 | 26,058 | 1,955 |
| 701,317 | 759,690 | 533,662 | 532,081 |
| 10. | DEBTORS | |||||
|---|---|---|---|---|---|---|
| 2022 | 2021 | |||||
| Arrears of maintenance contributions |
2,164 | 1,958 | ||||
| Prepayments | and accrued | income | 24,393 | 51,353 | ||
| Other debtors | 3,529 | 3,746 | ||||
| 30,086 | 57,057 | |||||
| 11. | CASH AT BANK AND IN | HAND 8 | CASH EQUIVALENT | |||
| 2022 | 2021 | |||||
| General funds | 13,556 | 13,584 | ||||
| Extraordinary | repair fund | 39,893 | 33,224 | |||
| Convalescent | and benefit | fund | 6,749 | 6,749 | ||
| 60,198 | 53,557 | |||||
| 12. | CREDITORS: | Amounts | falling due within one year | |||
| 2022 | 2021 | |||||
| Maintenance contributions |
received | in advance | 14 | 661 | ||
| Accruals | 31,348 | 19,096 | ||||
| Other creditors | 3,398 | 1,827 | ||||
| Deferred capital grants re | property | 3,960 | 3,959 | |||
| Deferred capital grants re | plant | 2,880 | 2,880 | |||
| 41,600 | 28,423 | |||||
| 13. | CREDITORS: | Amounts | falling due after more than one year | |||
| 2022 | 2021 | |||||
| Deferred capital grants re | property | 238,394 | 242,355 | |||
| Deferred capital grants re | plant | 5,772 | 8,652 | |||
| 244,166 | 251,007 |
| 2022 | 2021 | ||||||
|---|---|---|---|---|---|---|---|
| Manage- | Manage- | ||||||
| Total | Services | ment | Total | Services | ment | ||
| 6 | 8 | 8 | 6 | f | 6 | ||
| SALARIES AND STAFF | EXPENSES | ||||||
| Warden (75%:25%) | 30,689 | 23,017 | 7,672 | 27,560 | 20,670 | 6,890 | |
| Steward &secretarial | 26,745 | - | 26,745 | 22,331 | 22,331 | ||
| Chaplain | 3,744 | 3,744 | - | 3,184 | 3,184 | ||
| Warden call cover |
7,363 | 7,363 | 7,851 | 7,851 | |||
| ESTABLISHMENT EXPENSES | |||||||
| Central heating fuel |
66,117 | 66,117 | 41,740 | 41,740 | |||
| Property insurance | 10,313 | 10,313 | 10,191 | 10,191 | |||
| General and water rates | 2,167 | 2,167 | 2,731 | 2,731 | |||
| Electricity charges | 14,682 | 14,682 | 14,382 | 14,382 | |||
| Garden expenses | 17,098 | 17,098 | 20,423 | 20,423 | |||
| Website and computer costs | 1,432 | 1,432 | 351 | 351 | |||
| GENERAL EXPENSES | |||||||
| Convalescent contributions |
etc. | 3,784 | 3,784 | 1,597 | 1,597 | ||
| Telephone charges less receipts |
3,312 | 1,656 | 1,656 | 3,575 | 1,788 | 1,787 | |
| Accountancy | 9,278 | 4,639 | 4,639 | 9,050 | 4,525 | 4,525 | |
| Administration and stationery |
299 | 150 | 149 | 614 | 307 | 307 | |
| General expenses Professional fees |
6,199 4,233 |
3,100 2,117 |
3,099 2,116 |
3,333 6,798 |
1,667 3,399 |
1,666 3,399 |
|
| Trustee expenses | 600 | 300 | 300 | 600 | 300 | 300 | |
| TOTAL EXPENSES | 208,055 | 161,679 | 46,376 | 176,311 | 135,106 | 41,205 |