2022-02-05-accounts

Contents		Page
Officers and professional	advisors
Trustees Annual Report		2 to 3
Independent Examiners'	report to the trustees
Statement ofComprehensive Income
Statement of Financial Position
Statement ofCash Flows
Notes to the financialstatements		8to 13
Income and Expenditure	Account	14

Briants
Chartered	Accountants
Maritime House
Discovery	Quay
Falmouth
TR11 3XA

Turnover					Notes	2022	2021
						96,785	98,352
Operating		costs				70,160	71,861
Operating		surplus				26,625	26,491
Interest receivable			and	similar income	2	27,264	33,225
Interest payable
Surplus	on ordinary			activities		53 889	59115
The financial		statements		were approved	29/07/2022 by the trustees on . ... ... .		.. and signed on
behalf by:
						A&~~
P Hobson	—Chairman					ATredget - Trustee

					Notes	2022	2021
Fixed Assets
Tangible Fixed Assets						2,500,000	2,500,000
HAG Grant						~267,410	~267,410
					6	2,232,590	2,232,590
Investments					7	636,912	561,137
						2,869,502	2,793,727
Current Assets
Debtors					8	6,757	5,347
Cash at bank and	in	hand				166,014	189,306
						172 771	194663
Current Liabilities
Creditors; Amounts		falling	due within	1 year	9	(5,693)	(5,689)
Net Current Assets						167,078	188,964
Total Assets less	Current		Liabilities			3,036,580	2 962,691
Capital &Reserves
Charitable reserve					10	178,390	173,892
Revenue reserve						929,479	880,088
Revaluation reserve						1,928,711	1,928,711
						3,036,580	2,982,691

CASH FLOWS FROM OPERATING	CASH FLOWS FROM OPERATING			Notes	2022	2021
ACTIVITIES:
Net cash provided by (used in) operative				13	25,219	28,847
activities
CASH FLOWS FROM INVESTING
ACTIVITIES:
Purchase oftangible fixed	assets
Investment income					27,264	33,225
Purchase of investments					(75,775)	(30,923)
CASH FLOWS FROM FINANCING
ACTIVITIES:
Interest paid
Change in cash and cash	equivalents	in the	year		(23,292)	31,149
Cash and cash equivalents	at the beginning		of	14	189,306	158,157
the year
Cash and cash equivalents	at the end	ofthe	year	14	~14	159306

						2022	2021
2.Interest Received
Charitable donations
Interest received						662	1,426
Investment income						26,602	31,799
						22,264	33225
3.Interest Payable						2022	2021
On loans repayable	in fewer		than 5 years
4.Employees						2022	2021
Wages &Salaries						21,715	21,948
Social security costs
Warden's council tax						1,517	1,411
						23,232	23,359
Average number of	people		employed	in
year:
Hostel staff
Secretarial support
5.Trustees' Emoluments
Emoluments						NIL	NIL
Total expenses reimbursed			to the trustees		not
chargeable to United		Kingdom income tax				NIL	NIL

			Freehold
			Housing
6.Tangible Fixed Assets			Properties	Equipment	Total
Cost
At 6th February 2021			2,500,000	5,185	2,505,185
Additions
At 5th February 2022			2,500 000	5,185	2 505,185
Housing Association	Grant
At 6th February 2021	and 5th	February 2022	267,410	-	267410
Depreciation
At 6th February 2021				5,185	5,185
Charge for year
At 5th February 2022				5185	5 185
Net Book Value
At 5th February 2022			2,232,590		2 232,590
At 5th February 2021			2,232,590		2,232,590
Property cost is represented		by:	2022		2021
Valuation in 2019			2,196,121		2,196,121
HAG Grant			(267,410)		(267,410)
Cost			571,289		571,289
Total			2,500,000		2,500,000

7.Investments	7.Investments	2022	2021
Cost at 6th	February 2021	561,137	530,214
Accumulated	dividends	25,775	30,923
Additions in	year	50,000
Cost at 5th	February 2022	636912	561 137

8.Debtors				2022	2021
Residential contributions			receivable	1,525	1,242
Other debtors				722	809
Prepayments	and accrued income			4,510	3,296
				6,757	5,347
9.Creditors:	Amounts		falling due in under one year	2022	2021
Trade creditors				1,881	1,442
Tax and social security				300	353
Due back to residents
Accruals and	deferred	income		3,512	3,894
				5,693	5669

		Revaluation	Revenue	Charitable
10.Reserves		Reserve	Reserve	Reserve	Total
At 6th February 2021		1,928,711	880,088	173,892	2,982,691
Surplus for year			53,889		53,889
Revaluation of property
Transfer to charitable	reserve		(4,498)	4,498
At 5th February 2022		1,928,711	929,479	178,390	3,036,580

11.Accommodation in Management	2022	2021
Number of units of housing accommodation	20	20

					2022	2021
Net income/(expenditure) for the		reporting		period as
per the statement	ofcomprehensive		income		53,889	59,716
Adjustments for:
Depreciation of tangible fixed assets
Interest paid
Investment income					(27,264)	(33,225)
(Increase)/decrease	in debtors				(1,410)	1,298
Increase/(decrease)	in creditors				4	1,058
Net cash provided	by operating	activities			25,219	28,847
14.Analysis of Cash and Cash
Equivalents					2022	2021
Cash at bank and	in hand				166,014	189,306

	FOR THE	YEAR ENDED 5 FEBRUARY 2022	YEAR ENDED 5 FEBRUARY 2022
		Notes	2022	2021
Income From Lettings
Residential contributions			67,444	67,685
Service charges			29,408	30,105
Gross Income Receivable			96 852	97,790
Other income received		15		562
Losses arising from voids			67
Net Income Receivable			00785	98,352
Expenditure
Services
Counciltax
Heat & light			21,827	16,332
Water charges			4,386	4,611
Telephone			528	774
			26 741	21 717
Management
Insurance			2,165	2,010
Subscriptions			558	554
Stationery 8 general expenses			698	268
Accounting fees			1,020	1,020
Employee costs			23,232	23,359
Lifeline system			1,253	1,811
Professional fees			2,472	2,472
Depreciation
			31,398	31 494
Routine Maintenance			12,021	18,298
Charitable Expenditure				352
Total Operating Expenditure			70 160	71861
Operating Surplus			26 625	26 491
Other Operating Income
Charitable donations
Interest received			662	1,426
Investment income			26,602	31,799
Interest payable
Surplus on Ordinary	Activities		53,889	59,716