| age | ||
|---|---|---|
| eportof the Trustees | Ito3 | |
| IndependentExaminer'seport | 4 | |
| StateentofFinanciaActivities | 5 | |
| a ance Sheet | 6 to | 7 |
| NotestotheFinanciaStatements | 8to | 14 |
| FOTEY | EAREN | DE3ISTEC | E E2024 | ||
|---|---|---|---|---|---|
| 31.12.24 | 31.12.23 | ||||
| Unrestricted | Restricted | Total | Total | ||
| funds | fund | funds | funds | ||
| Notes | t | f. | t | t, | |
| INCOEANDENDOWENTS FRO | |||||
| Charitabeactivities | 3 | ||||
| Wendover | 134,657 | 134,657 | 126,881 | ||
| Investment income | 2 | 21,653 | 21,653 | 19,194 | |
| Tota | I56,3l0 | 156,3l0 | 146,075 | ||
| EXPENDITUREON | |||||
| Charitabeactivities | 4 | ||||
| Administration | 72,457 | 257 | 72,714 | 58,598 | |
| Wendover | I10,529 | I10,529 | 126,333 | ||
| Other | 1,394 | 1,394 | 1,084 | ||
| Tota | 184,380 | 184,637 | I86,015 |
||
| NETTNCOME/(EXPENDTTU RE) Transfersbetween funds |
l4 | (28,070) 28,070 |
(2s7) (28,070) |
(28,327) | (39,940) |
| Otherrecognised gains/(osses) | |||||
| Gainson revaluationoffixedassets | 65,I36 | 65,I36 | 43,764 | ||
| Net movementin funds | 36,809 | 36,809 | 3,824 | ||
| RECONCILIATIONOFFUNDS | |||||
| Totalfundsbrought forward | I,I75,I0l | I,I00,000 | 2,275,l0l | 2,271,277 | |
| TOTALFUNDSCARIED FORWARD | l,l75,l0l | l,136,809 | 2,31I,910 | 2,275,101 |
| 31.12.24 | 31.12.23 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| funds | fund | funds | funds | ||
| Notes | f | t | t | f | |
| FXEASSETS | |||||
| Tangibleassets Investments |
l0 ll |
731,615 | I,109,883 | 731,615 I,109,883 |
731,049 1,069,748 |
| 731,615 | 1,109,883 | I,84I,498 | 1,800,797 | ||
| CURENTASSETS | |||||
| Debtors | t2 | I5,807 | I5,807 | 26,558 | |
| Cash at bank andinhand | 440,017 | 26,,925 | 466,942 | 467,413 | |
| 455,824 | 26,925 | 482,749 | 493,97 | ||
| C ETORS Amountsfallingduewithinoneyear |
13 | (12,338) | (t2,337) | (19,667| | |
| NETCUENTASSETS | 443,486 | 26,926 | 470,412 | 474,304 | |
| TOTALASSETS LESSCUENT LIABLITES |
l,l75,l0l | 1,136,809 | 2,311,910 | 2,275,101 | |
| NETASSETS | l,l75,l0l | 1,136,809 | 2,31I,910 | ||
| FUNS | t4 | ||||
| Unrestricted funds | l,l75,l0l | ||||
| Restricted funds | 1,136,809 | ||||
| TOTALFUNS | 2,31I,910 |
| Depositaccount interest | |||||
|---|---|---|---|---|---|
| 3. | INCOEF OCHAITALEACTIVITIES | ||||
| Activity | |||||
| Residents Charges | Wendover | ||||
| 4. | C AITALEACTIVITIESCOSTS | ||||
| Suppott | |||||
| Direct | costs (see | ||||
| Costs t |
note 5) t, |
Totals t |
|||
| Administration | 12,361 | 60,353 | 72,714 | ||
| Wendover | I10,529 | I10,529 | |||
| 122,890 | 60,353 | 183,243 | |||
| 5. | SUPORTCOSTS | ||||
| Totals | |||||
| t | |||||
| Administration | 60,353 | ||||
| 6. | NETINCOE(EXPENDITUE) | ||||
| Net income/(expenditure)is stated aftercharging(crediting) | |||||
| 31.12.24 | |||||
| Depreciation-ownedassets |
| CaringServices | ||||
|---|---|---|---|---|
| Administration | ||||
| Noemployees received emolumentsinexcessoff60,000 | ||||
| 9. | CO A TIVESFOTESTATEENT OFFINANCIAL |
AIVITIES | ||
| Unrestricted | Restricted | Total | ||
| funds | fund | funds | ||
| INCOEANENOWENTSFO | f, | t" | t. | |
| Charitabeactivities | ||||
| Wendover | l26,ggI | l26,ggI | ||
| Investment income | 19,194 | 19,194 | ||
| Tota | 146,075 | 146,075 | ||
| EXPENDITUEON | ||||
| Charitabeactivities | ||||
| Administration | 58,598 | 58,598 | ||
| Wendover | 126,333 | 126,333 | ||
| Other | 1,094 | 1,084 | ||
| Tota | 186,0l5 | 186'0l5 | ||
| NETNCOE(EXPENrTURE) | (39,940) | (39,940) | ||
| Transfersbetween funds | (140,t69) | l40,l69 | ||
| Otherrecognised gains/(osses) | ||||
| Gainson revaluationoffixedassets | 43,764 | 43,764 | ||
| Net movementinfunds | (180,109) | lg3,g33 |
3,824 | |
| RECONCILIATIONOFFUNS | ||||
| Totalfundsbrought forward | 1,355,210 | 916,067 | 2,271,277 | |
| TOTALFUNSCA EFOWAD | l,l75,l0l | I,I00,000 | 2,275,101 |
| TANGIBLEFIXEDASSETS | ||||
|---|---|---|---|---|
| Fixtures | ||||
| Freehold | and | Computer | ||
| property f. |
fittings t |
equipment f, |
Totals f |
|
| COST AtIst January 2024 Additions |
728,659 | 61,,475 1,482 |
3,,328 478 |
793,462 1,960 |
| At3lst December2024 | 728,659 | 62.957 | 3,806 | 795,422 |
| DEPRECIATION | ||||
| AtIst January 2024 Chargeforyear |
59,499 1,037 |
2,914 357 |
62,413 1,394 |
|
| At 3lst December2024 | 60,536 | 3,271 | 63,807 | |
| NET BOOK VALUE | ||||
| At 3lst December2024 | 728,659 | 2,421 | 535 | 731,615 |
| At 3lst December2023 | 728,659 | 1,976 | 414 | 731,049 |
| FIXEDASSETIESTE S |
|
|---|---|
| Unlisted | |
| investments | |
| f. | |
| MARKET VALUE | |
| AtlstJanuary 2024 Disposals Revaluations |
1,069,748 (25,001) 65,I36 |
| At 3lst December2024 | I,109,883 |
| NET BOOK VALUE | |
| At 3lst December2024 | I,109,883 |
| At3lst December2023 | I,069,748 |
| E TOS:AOUNTSFALLINGUE | ITINO | NEY | EA | ||
|---|---|---|---|---|---|
| 31.12.24 | 31.12.23 | ||||
| t | |||||
| Trade debtors | 7,505 | ||||
| Prepayments | 19,053 | ||||
| 26,,559 | |||||
| C ITOS:AOUNTSFALLINGDUE |
WITHIN | ONE | YEA | ||
| 31.12.24 | 31.12.23 | ||||
| f. | t, | ||||
| Trade creditors | 6,568 | 8,005 | |||
| Other creditors | 5,769 | I1,662 | |||
| 12,337 | 19,667 | ||||
| OVEENTINFUNS | |||||
| Net | Transfers | ||||
| movement | between | At | |||
| AtIlU24 | infunds | funds | 3Ur2l24 | ||
| f | f. | t | f, | ||
| Unrestrictednds | |||||
| Generalfund | I ,I45,005 | (28,070) | 29,070 |
1,145,005 | |
| Designated Fund(EquipmentReplacement) | 30,000 | 30,000 | |||
| Repairsfund | 96 | 96 | |||
| l,l75,l0l | (28,070) | 28,070 | l,l75,l0l | ||
| estricted funds | |||||
| CooperMemorialFund | I ,100,000 | 64,979 | (28,070) | l,l36,909 | |
| TOTALFUNS | 2,275,101 | 36,809 | 2,31I ,910 | ||
| Netmovementin funds, included inthe aboveare asfollows: | |||||
| Incoming | Resources | Gainsand | Movement | ||
| resources | expended | losses | infunds | ||
| Unrestricnds | f, | t. | f | t | |
| Generalfund | 156,3 | l0 | (184,380) | (28,070) | |
| estricted funds | |||||
| CooperMemorialFund | (257) | 65,136 | 64,879 | ||
| TOTALFUNS | I56,3 | l0 | 65,136 | 36,809 |
FOTEYEARE OVEENT INFUNS-continued Coparativesformovementinnds |
NED31STE |
CE E2024 |
||
|---|---|---|---|---|
| Net | Transfers | |||
| movement | between | At | ||
| AtIlll23 | infunds | funds | 3Ut2l23 | |
| f, | f. | t | t | |
| Unrestrictednds | ||||
| Generalfund | L,325,1l4 | (39,940) | (140,169 ) | 1,145,005 |
| Designated Fund(EquipmentReplacement) | 30,000 | 30,000 | ||
| Repairsfund | 96 | 96 | ||
| I,355,210 | (39,940) | (140,169) | l,l75,l0l | |
| Restricted funds | ||||
| CooperMemorialFund | 916,067 | 43,764 | I40,169 | 1,100,000 |
| TOTALFUNDS | 2,271,277 | 3,824 | 2,275,101 |
| Comparativenet movementin funds, i | ncludedin the aboveare asfoll | ows: | ||
|---|---|---|---|---|
| Incoming | Resources | Gainsand | Movement | |
| resources | expended | losses | infunds | |
| t, | f, | t | t | |
| Unrestrictedfunds | ||||
| Generalfund | 146,075 | (186,015) | (39,940) | |
| Restrictedfunds | ||||
| Cooper MemorialFund | 43,764 | 43,764 | ||
| TOTALFUNS | 146,075 | (186,015) | 43,764 |
3,824 |
| Acurrentyearl2months andprior yearl2mo | nthscombined pos | itionisasfollows: | ||
|---|---|---|---|---|
| Net | Transfers | |||
| movement | between | At | ||
| AtIlv23 | infunds | funds | 3Ut2l24 | |
| t | f, | f, | t | |
| Unrestrictednds | ||||
| Generalfund | ,325,114 | (68,010) | (l12,099) | |
| Designated Fund(EquipmentReplacement) | 30,000 | 30,000 | ||
| Repairsfund | 96 | 96 | ||
| 1,355,210 | (68,010) | (l12,099) | l,l75,l0l | |
| estrictedfunds | ||||
| Cooper MemorialFund | 916,067 | 108,643 | I12,099 | l,l36,809 |
| TOTALFUNDS | 2,271,277 | 40,633 | 2,31I ,910 |
| Acunentyear12monthsandpriory asfollows: |
ear12months combinednet | movementinf | unds, included in | theabove |
|---|---|---|---|---|
| Incoming | Resources | Gainsand | Movement | |
| resources t" |
expended f. |
losses t |
infunds t |
|
| Unrestricted funds Generalfund |
302,385 | (370,395) | (68,0l0) | |
| estricted funds CooperMemorialFund |
(257) | 108,900 | 108,643 |
|
| TOTALFUNS | 302,385 | (370,652) | 40,633 |
| The Societyisrequiredtoreportonsevenmetrics effectivenessacrossthe socialhousing sector. |
withwhichare usedtomeasureeoonom | y,efliciency |
|---|---|---|
| 2024 | 20:13 | |
| Reinvestment | 0% | 0o/o |
| NewSupply Delivered | 0o/o | 0% |
| Gearing EBITA MRIInterestCover |
-64% N/A |
-640/o N/A |
| Headline SocialHousingCost | fI 83,243 | f,176,963 |
| Operating Margin | -21% | '3lo/o |
| Return onCapital Employed | -2o/o | -3o/o |