Charity number: 202887 THE LOUISA LILLEY ALMSHOUSES FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
THE LOUISA LILLEY ALMSHOUSES CONTENTS Page Reference and administrativg details of the charity. its trustegs and advlsers Trustees. report Independent examlner's report Statement of financial activitles Balance sheet Notes to the financial statements 10-17 The following pa9es do not form part of the statutory financial statements.. Detailed income and expenditure account and summaries 18
THE LOUISA LILLEY ALMSHOUSES REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2021 Trustees Mr S Adams Mrs S Morton Mr R Rowlati Mrs J Wilson Mr D Maddock Mrs K Gent MrCRCAdams MrA J Mayes Mr C J D Morton, Chairman Charity registered number 202887 Prin¢ipo1 office 4 Whylewell R08d Wellingborough Northants NN8 58E Secretary MrMJPort Accountants MHA Maclntyre Hudson Chartered Accounlanls Peterbiidge House The Lakes Northampton NN4 7HB Bankers Natwest Bank plc Wellingborough Northants NN8 1AD Page I
THE LOUISA LILLEY ALMSHOUSES TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2021 The Trustees present their annual report t¢yJether with the financial statements of The Louisa Lilley Almshouses for the period 1 January 202110 31 December 2021. a. OBJECTIVES AND ACTIVITIES FOR THE PUBLIC BENEFIT Miss Louisa Lilley died on 4 May 1930. Under her Will, land was lo be purchased and almshouses built for occupation by persons of either sex, provided they lived or had lived in Wellingborough or lrthlingborough or in the immediate neighbourhood, without regard to their polits'cal or religious beliefs. Trustees were lo be appointed lo build and manage the properties which were to be named The Louisa Lilley Almshouses. Age and character were to be taken into account in assessing applicants for ¢)ccupancy. Six almshouses were built in lrthlingborough and fourteen in Wellingborough. Over the years the properties became outmoded and, on a local initiative. in 1976177 the almshouses in Wellingborough were brought up to modem standards wrth grant aid from the Housing Corporation. In 1981 the properties in lrthlingboTOUgh were also modernised using grant aid via the East Northants Council. The Trust is now a registered housing association employing a salaried part-lime secretary. The Trustees meet regularty to ensure the properties are managed effectively and a high quality of seryice provided for the residents. The Trust properties are visited regularly by the part-lime secretary lo collect the maintenanee conlribLJlions and ensure frequent contact beeen the management and residents. As part of their duties the Tru$tee$ make an annual inspection of the properties. b. PUBLIC BENEFIT The Trustees of The Louisa Lilley Almshouses accept the need to have regard to the Charity Commission's guidan on publiG benefit. They recognise that it is their responsibilty lo ensure that the benefits offered by the charity are realised by promoting the charity within the county. The aim is set out in the Report of the Trustees. The organisation believes in being fair, open and inclusive. c. OMBUDSMAN A National Ombudsman has been appointed to help residents who cannot get satisfaction from their landlords. That is unlikely to happen with regaTd lo The Louisa Lilley Almshouses. Details are available on request from the Trusfs secretary. d. MANAGEMENT POLICIES Management policies have been approved and updated by the Trustees relating to the following iSSLtes'. eligibility and selection criteria.. complianls procedure equal opportunities policy financial procedures data protection IGDPRI policy chairman's responsibilities executs'on of repairs and mainlenan¢e policy., maintenance eonlribution policy iv vi Page 2
THE LOUISA LILLEY ALMSHOUSES TRUSTEES. REPORT leontlnued) FOR THE YEAR ENDED 31 DECEMBER 2021 ix letter to new residents policy premises eonlenls policy residents personal details policy rules and regulations policy trustees responsibilities voting by proxy policies xiv . MAINTENANCE CONTRIBUTIONS AND FINANCE Maintenance contributions are reviewed annually. Levels are still low compared with rents in both the public and private sectors but in the long tem the properties will require major investment which could mean asking for financial 8ssistsnTr from the successors lo the Housing Corporation or other financial institutions including the Almshouse Association. necessilales the building up of reseNes. Help from the successors to the Housing Corporation is doubtful but tradition81ty to have any hope al all the Trust must be seen to be moving towards what are known as 'Target Rents, which are very much higher than the existing maintenance contributions. The Trustees therefore decided to move in that direction in accordan th guidance prepared by the then Housing Corporation and The Almshouse Association. maintenan conlributs'ons charged in 2021 and 2020 were as follows.. 2021 2020 3 Bedroom unit IVVellin9boroughl Double units Single units 76.00 69.00 63.00 75.00 68.00 62.00 (per weekl (per weekl (per week If any resident has difficulty meeting the maintenance contribution then financial help may be available through housing benefit. Application can be made to the appropriate local authority, ie Wellingborough Borough Council for the properties in Wellingborough., East Northamplonshire Council for the properb'es in lrthlingbortsugh. b. TRUSTEES. REVIEW OF THE YEAR'S ACTIVITIES 2021 was a difficult year again due to COVID 19 Restrictions, and oui duty of care to our residents was paramount. Our Trustees managed meetings via ZOOM, bul did manage one face to face in a large hall, which all enjoyed. We have managed to protect our residents from COVID 19 and none of them have been infected by rt $0 far. We lost 1 residents in 2021, to ill health, bul we successfully replaced her.Three other properties were let following the death of two residents in late 2020 and a further one being taken into care early in 2021. We currently have a waiting list of six. We still have several of our ladies who are in their go's. The Trust's Secretary, Michael Port, had a difficult year due lo illness but the Trustees wssh to record their appreciation of his efforts in difficult circumstances. Page 3
THE LOUISA LILLEY ALMSHOUSES TRUSTEES. REPORT {¢ontinuedl FOR THE YEAR ENDED 31 DECEMBER 2021 The Gardens are beginning to look a lol better ancs il is hoped lo open the lrthlingborough Gardens for a ChaTity Function during 2022. We also have a windowl guttering cleaner in place who calls every months. The trust completed the upgrading of the Loft Insulation bul did not go ahead with the Cavity Wall Insulation as it was consideied that the 1930's buildings were unsuitable. The front paths at Wellingtrrf)rough were re-laid and replaced where necessary. The trust also installed four new walk-in showers for the Residents that wanted one and will eventually meet the goal of new Shower Rooms for all Residents. In trying lo do this considerable problems were encountered with the supply chain. Free Reserves for 2021 of £78,355, 12020 £58,994) are available to be carried forward. The Trustees, in general, are of the opinion that the affairs of the Trust are in good order. . RESERVES POLICY The Trustee$ hands on. approach lo managing the Tiusys affairs, since its re-vltalisab.¢ in the late 1970'slearly 1980'$, has been very successful results.ng in the Trust's cuirenl solid financial posrf(Dn. The Trustees have endeavoured, and will conb.nue to endeavour, to build up reserves which will be required in the long term to rneel the cost of major enhancement works but they have had lo balance this against the need. over recent years, to carry out substsnlial intermediate improvement works. The Tiust has investment income and the only real source of income, to build up reserves, is from the maintenance contributions hence the Trustees agreed policy lo increase maintenance contributions every year by the maximum pemilled amount. Any shortfall In the long lemi investment required will have lo be met either by funding from the Homes and Community Agency, which is unlikely, or loans via the Almshouses Association. b. AVERAGE PAYMENT DATE The average tsme tsken beeen receipt and payment of purchase invoices is 7 days. e. INVESTMENTS POLICY Funds which a surplus to immediate spending needs are held either on interest bearing deposit accounts or in Charities Investment Fund income or accumulation shares. Units held in these investments are shown at market value. . METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed. The deed of reb'rement and appoir*lmenl of Trustees is dated 25 August 2021. Page 4
THE LOUISA LILLEY ALMSHOUSES TRUSTEES. REPORT {contlnuedl FOR THE YEAR ENDED 31 DECEMBER 2021 b. TRUSTEES The Trustees who served dur£ng the year were.. Mr S Adams Mrs S Morton Mr R Rowlatt Mrs J Wilson Mr D Maddock Mrs K Gent MrCRCAdams Mr A J Mayes Mr C J O Morton, Chairman Part-lime secretsry to the Tiustr. MrMJPort 4 Whytewell Road WELLINGBOROUGH Northanls NN8 5BE (Tel No 01933 2240191 c. RISK MANAGEMENT The Trustees have assessed the major risks to which the charity is exposed, in partt"cular those related lo the operations and finances of the charity, and are sab'sfied that systems and procedures are in place to mitigate our exposure to the major risks. Page 5
THE LOUISA LILLEY ALMSHOUSES TRUSTEES. REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2021 TRUSTEES. RESPONSIBILITIES STATEMENT The Tfustees are responsible for preparing the Trustees, report and the financi81 stslements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Praclicel. The law applicable to charities in En9land & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the stale of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial slalements, the Trustees are required to.. select suitable accounting policies and then apply them consistently.. observe the methods and principles in the Charities SORP.. make judgments and accounts'ng estimates that are reasonable and prudent.. stale whether applicable UK Accountsng Standards have been followed, subject lo any material departures disclosed and explained in the financial stalemenls. prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charity will continue in operalB)n. The Trustees are responsible for keeping proper accounting records that are sufficient lo show and explain the charity's Iransaclions and disclose with reasonable accuracy al any time the financial position of the charity and enable them lo ensure that the financial statements comply with the Charities Act 2011, the Charity {Accounls and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees are responsible for the mainlen8nce and integrity of the charity and financial information included on the charity's website. Legislatson in the United Kingdom goveming the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. This report was approved y th Trustees, on%k and signed on their behalf by.. MrCJDMorton Chairman Page 6
THE LOUISA LILLEY ALMSHOUSES INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2021 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE LOUISA LILLEY ALMSHOUSES (the 'charity') I report lo the charity Trustees on my examination of the accounts of the charity for the year ended 31 Dember 2021. RESPONSIBILITIES AND BASIS OF REPORT As the Tfuslees ol the charity you are responsible for the preparation of the 2C¢OLtnts in accordance with the requirements of the Charities Act 2011 {'Ihe 2011 Act.). l Teport in respect of my examination of the charivs accounts carried out undei sectton 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145{5llbl of the 2011 Act. INDEPENDENT EXAMINER'S STATEMENT Your attention is drawn to the fact that the charity has prepared the accounts in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) in preferen to the Accounting and Reporting by Charities". Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn. l understsnd that Ihis has been done in order for the accounts lo provide a true and fair view in accordance with the Generally Accepted AcGounling Pracb'ce effective for reporting periods beginning on or after 1 January 2015, I have completed my examination. I can confirm that no mallers have come to my attention in Connection with the examination giving me cause to believe that in any material respect.. accounb'ng records were not kept in respect of the charity as required by section 130 of the 2011 Act,. or the accounts do not accord with those records- or the accounts do not comply with the applicable requirements concerning the form and content of accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fairf view whi¢h is not a matter considered as part of an independent examination. I have no Concerns and have come across no other matters in connection wth the examination lo which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Signed.. Daled.13 April 2022 Elaine Olson-williams FCCA MHA MACINTYRE HUDSON Chartered Accountants Northampton Page 7
THE LOUISA LILLEY ALMSHOUSES STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021 Unrestricted funds 2021 Total funds 2021 Total funds 2020 Note INCOME FROM: Charitable activities Inveslmenls 65.221 2.475 65.221 2.475 66.724 2,369 TOTAL INCOME 67,696 67,696 69,093 EXPENDITURE ON: Charitable aelivilies 63,545 63.545 77,131 TOTAL EXPENDITURE 63,545 63,54S 77,131 NET INCOME I IEXPENDITURE) BEFORE OTHER RECOGNISED GAINS AND LOSSES Gains on revaluations of fixed assets 4,151 120.801 4.151 120.801 18,0381 62.476 NET MOVEMENT IN FUNDS 124,952 124.952 54.438 RECONCILIATION OF FUNDS: Total funds brought forward 749,283 749,283 694,845 874,235 874,235 749,283 TOTAL FUNDS CARRIED FORWARD The notes on pages 10 10 17 form part of these financial statements. Page 8
THE LOUISA LILLEY ALMSHOUSES BALANCE SHEET AS AT 31 DECEMBER 2021 2021 2020 Note FIXED ASSETS Tangible assets Investments 23,949 830.573 23,949 709,772 10 854.522 733,721 CURRENT ASSETS Debtors Investrnenls Cash at bank and in hand 11 12 883 3,583 16,542 1,556 3,583 11.623 21,008 16,762 CREDITORS: amounts falling due within one year 13 11.295) 11,2001 NET CURRENT ASSETS 19,713 15.562 NET ASSETS 874,235 749,283 CHARITY FUNDS Unrestricted funds.. Unrestricted funds 14 14 354.057 520,178 349,gC6 399,377 Revaluation reserve 14 Total unrestricted funds 874,235 749.283 TOTAL FUNDS 874.235 749,283 The financial ststemenls wer appr ved by the Tluslees on Ixp ' X Land signed on their behalf, by.. MrCJDMorton Chairman Mr O W Maddock Trustee The notes on pages 10 to 17 ft)rm part of these financial statements. Page 9
THE LOUISA LILLEY ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 ACCOUNTING POLICIES 1.1 Basis of preparation of financial statements The financial statements have been prepared to give a 'lrue and fairf view and have departed from the Charities {Accounts and Reports) Regulations 2008 only to the extent required to provide a 'lrue and fairf view. This departure has involved following the Charities SORP IFRS 1021 published on 16 July 2014 rather than the Accounting and Reporting by Charities.. Ststement of Recommended Practi effective from 1 Apiil 2005 which has Sin been wthdrawn. The financial statements have been prepared under the historical cost ¢onvention with items recognised at cost or transaction value unless otherwise slated in the relevant notes to these accounts. The financial statements have been prepared in a¢cordan¢e with the Statement of Recommended Practice.. Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 issued on 16 July 2014 and Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 102) and Charities Act 2011. The Louisa Lilley Almshouses Conslitules a public benefit entity as defined by FRS 102. 1.2 Income All income is recognised once the charity has entitlement lo the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Income lax recoverable in relation to investment income is reccgnised at the b'me the investment income is receivable. 1.3 Golng concern The financial statements have been prepared on a going concern basis. The Trustees have considered relevant information, including the annual budget, forecast future cash flows and the impact of subsequent events in m2king their assessment. The COVID 19 pandemic and the ensuing economic shutdown has had a significant impact on the charills operats'ons. In response to the COVID 19 pandemic, the Trustees have perfomied a robust analysis of forecast future cash flows taking into account the potential impact on the business of possible lulure scenarios arising from the impact of COVID 19. This analysis also considers the effectNeness of available measures lo assist in mitigating the impact. The Trustees have not identified any further material uncertainties that may cast signifunt doubl about the ability of the charitable company to continue as a going concern. Based on these assessments and having regard to the resources available to the charitable cornpany, the Trustees have concluded that there is no material uncertainty and that they can continue to adopt the going concern basis in preparing the annual report and accounts 1A Flxed assets - Houslng land and bulldlngs Housing properties are stsled at cost The development cost of housing properties includes the following.. cost of acquiring land and buildings.. development expenditure.. Page 10
THE LOUISA LILLEY ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 ACCOUNTING POLICIES ICONTINUED) 1.5 Depieelatlon - Housing land and buildings Depreciation of housing properties was effectwely recognised" by housing association grants which reduced the net investments in housing properties. ie cost less housing associat'on grant, to an amount which can be recovered from the expected net rental income,. and in respect of that proportion of cost not finand by either housing assoctation grant, or by long term loan by making a transfer from reserves to accumulated depreciation. No depreciation has been provided on housing properb'es during the year. The net value of properties shown in the balance sheet is estimated lo be less than their land value. 1.6 Future cyclical repair and maintenance reserve The reserve reflects the Trusvs liability to maintain ils properties in accordance with a planned programme of works and is maintained in accordance wth an order by the Charity Commission dated 14 May 1982. 1.7 Housing Association grant Social Housing Grant (SHGI is receivable from the Homes and Communities Agency and formedy from the Housing Corporation and is utilised lo reduce the capital costs of housing properties, including land costs. SHC due from the HCA or received in advance is included as a current asset or liability. SHG received in respect of revenue expenditure is credited lo the income and expenditure account in the same period as the expenditure lo which it relates. SHG is subordinated to the repayment of loans by agreement wrth the HCA. SHG released on sale of a property may be repayable bul is normally available lo be recycled and is credited lo a Recycled Capitsl Grant Fund and included in the balance sheet in creditors. 1.8 Property management The Trust carries out a programme of maintenance of its property portfolio designed lo keep rt in a good state of repair and suitable for the use for which it was originalty ¢on$ttucted. After laking account of HAG and other capital grants the Trustees have Considered that a charge for depreciation would generally be unnecessary. 1.9 Investments Fixed asset investments are a form of financial instrument and are initially recognised at their tran$2clion cost and subsequently measured at fair value at the Balance sheet dale, unless fair value cannot be measured reliabily in which case il is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading 'Gainslllossesl on investments. in the Slalement of financial aclivilies. Page 11
THE LOUISA LILLEY ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 ACCOUNTING POLICIES (CONTINUED) 1.10 Fund accountlng General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general obiectives of the charity and which have not been designated for other pUlSes. Designated funds comprise unrestricted funds that have been sel aside by the Trustees for particu5ar purposes. The aim and use of each designated fund is set out in the notes lo the financial statements. 1.11 Taxatlon The Trust is accepted as a charity by HM Revenue & Customs. Income and capital gains of the Trust are generally exempt from tsx rf applied for charitable purposes. INCOME FROM CHARITABLE ACTIVITIES UnrestTlCted funds 2021 Total funds 2021 Total funds 2020 Income from mair¢lenance contributions 65,221 65,221 66,724 Total 2020 66.724 66,724 INVESTMENT INCOME Unrestricted funds 2021 Total funds 2021 Total nds 2020 Bank interest receivable Dividends 28 2,341 2,475 2,475 2,475 2,475 2,369 Total 2020 2.369 2,369 Page 12
THE LOUISA LILLEY ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 DIRECT COSTS Total 2021 Total 2020 Actlvlties Insurance Garden maintenance Light and heal Quinquennial review costs- Cost of works Repairs and maintenance Call Care Scheme Legal and professional Management and administration 1,740 18,074 463 12,600 19,173 1,240 1,368 5,870 1,740 18,074 463 12,600 19,173 1.240 1.368 5.870 1,731 11,031 264 56,069 5,669 60.528 60.528 74,764 Totsl 2020 74,764 74,764 OFFICE OVERHEADS Unrestricted funds 2021 Total funds 2021 Total funds 2020 Accountancy Subsriptions Sundry expenses 1.337 559 1.121 1.337 559 1,121 1.230 553 584 3.017 3,017 2,367 ANALYSIS OF EXPENDITURE BY EXPENDITURE TYPE Staff costs Other costs 2021 2021 Total 2021 Total 2020 Estate costs Office overheads 5.870 54.658 3.017 60,528 3,017 74.764 2.367 5,870 57,675 63,545 77,131 Total 2020 5.669 71,462 77.131 Page 13
THE LOUISA LILLEY ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 310ECEMBER 2021 INDEPENDENT EXAMINER'S REMUNERATION The Independent Examiner's remuneration amounts to an Independent Examination fee of £1,33712020 £1,230). STAFF COSTS Staff Costs were as follows.. 2021 2020 Wages and salaries 5,870 5,669 The average number of persons employed by the charity during the year was as follows= 2021 No. 2020 No. No employee received remuneration amounting lo more than £60,000 in either year. Fixed assets 2021 2020 Housing land and buildings (freehold) Cost Les5'. Government grants received other than Housing Association Grant 130,215 130,215 {22,050) 122,0501 Net cost at 1 January 2018 and 31 December2018 Less.. Housing Aswcialion Grant DepreciatKJn 108,165 108,165 172,5621 111,6541 {72.562) {11,654) Net book value at 1 January 2019 and 31 DeTrmber 2019 23,949 23,949 Page 14
THE LOUISA LILLEY ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 10. FIXED ASSET INVESTMENTS Accumulatlon unlts In¢omè units Totsl Market value At 1 January 2021 Revaluations 79,271 11.244 630,501 109,557 709.772 120.801 At 31 Dernber 2021 90,515 740,058 830,573 Market value of Charities Investment Funds units held is the reden7Ption value notified by CCLA Investment Management Limrted as on 31 December 2020. 11. DEBTORS 2021 2020 Other debtors Prepayments and accrued income 698 858 883 883 1,556 12. CURRENT ASSET INVESTMENTS 2021 2020 Charities dep)sil fund 3,583 3,583 13. CREDITORS: Amounts falling due within one year 2021 2020 Other Greditors and accruals 1,295 1.200 Page 15
THE LOUISA LILLEY ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 14. STATEMENT OF FUNDS STATEMENT OF FUNOS - CURRENT YEAR Balance at 31 Gainsl December (Losses} 2021 Balance at 1 January 2021 Transfers Inlout Income Expendlture Designated funds Future cyclical repairs Extraordinary repairs Property equity 116.362 102,563 23.949 15,410 9,380 131,772 111.943 23,949 242,874 24,790 267,664 General funds General Funds - all funds Revaluation reserves 98.994 407.415 67,696 {63,5451 {24,7901 78,355 528.216 120,801 506,409 67,696 163.5451 124,7901 120.801 606,571 Total Unrestrtcted funds 749.283 67,696 163.5451 120,801 874.235 Totsl of funds 749,283 67,696 163,5451 120.801 874,235 STATEMENT OF FUNDS - PRIOR YEAR Balance at 31 Gainsl December (Lossesl 2020 Balance at l January 2020 Transfers inlout Income Expenditure Designated funds Future cyclical repairs Extraordinary repairs Property equity 99.742 92,403 23.949 16.620 10,180 116,362 102,563 23.949 216,094 26,780 242.874 General funds General Funds- all funds Revaluation reseNes 133,812 344,939 69.093 {77.131} 126,780} 98,994 407,415 62,476 Total Unrestricted funds 694,845 69.093 (77,1311 62.476 749,283 Total of funds 694.845 69,093 177,131) 62,476 749,283 Page 16
THE LOUISA LILLEY ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 15. ANALYSIS OF NET ASSETS BETWEEN FUNDS ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT YEAR Unre$tri¢tod funds 2021 Total funds 2021 Tangible fixed assets Fixed asset investments Current assets Creditors due within one year 23,949 830,573 21.008 11.2951 23,949 830,573 21,008 (1,295) 874.235 874,235 ANALYSIS OF NET ASSETS BETWEEN FUNDS- PRIOR YEAR Unrestricted funds 2020 Total funds 2020 Tangible lixed assets Fixed asset investments Current assets Creditors due within one year 23.949 709,772 16.762 11.2001 23.949 709,772 16,762 11,2001 749,283 749,283 16. CAPITAL COMMITMENTS The trust had no capital commitments al 31 December 2021 or 31 December 2020. 17. CONTINGENT LIABILITIES In the opinion of the Trustees. there were no conlingenl liabilities at 31 December 2021 or 31 Dernber 2020 likely to crystalise within 12 months of the approval dale of these accounts. In the event that the Trust's propety were to be sold, the Trust may be liable lo repay the HAG Isee page 91 advanced by the Housing Corporation in 197611977. Page 17