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||age||
|---|---|---|
|eportof the Trustees|Ito3||
|IndependentExaminer'seport|4||
|StateentofFinanciaActivities|5||
|a ance Sheet|6 to|7|
|NotestotheFinanciaStatements|8to|14|





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|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|<br>I86,015|
|NETTNCOME/(EXPENDTTU RE)<br>Transfersbetween funds|l4|(28,070)<br>28,070|(2s7)<br>(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<br>Investments|l0<br>ll|731,615|I,109,883|731,615<br>I,109,883|731,049<br>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<br>Amountsfallingduewithinoneyear|13|(12,338)||(t2,337)|(19,667\|
|NETCUENTASSETS||443,486|26,926|470,412|474,304|
|TOTALASSETS LESSCUENT<br>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||





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||Depositaccount interest|||||
|---|---|---|---|---|---|
|3.|INCOEF OCHAITALEACTIVITIES|||||
|||Activity||||
||Residents Charges|Wendover||||
|4.|C AITALEACTIVITIESCOSTS|||||
|||||Suppott||
||||Direct|costs (see||
||||Costs<br>t|note 5)<br>t,|Totals<br>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|||||



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||CaringServices||||
|---|---|---|---|---|
||Administration||||
||Noemployees received emolumentsinexcessoff60,000||||
|9.|CO A<br>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)|<br>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|





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|TANGIBLEFIXEDASSETS|||||
|---|---|---|---|---|
|||Fixtures|||
||Freehold|and|Computer||
||property<br>f.|fittings<br>t|equipment<br>f,|Totals<br>f|
|COST<br>AtIst January 2024<br>Additions|728,659|61,,475<br>1,482|3,,328<br>478|793,462<br>1,960|
|At3lst December2024|728,659|62.957|3,806|795,422|
|DEPRECIATION|||||
|AtIst January 2024<br>Chargeforyear||59,499<br>1,037|2,914<br>357|62,413<br>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|



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|FIXEDASSETIESTE<br>S||
|---|---|
||Unlisted|
||investments|
||f.|
|MARKET VALUE||
|AtlstJanuary 2024<br>Disposals<br>Revaluations|1,069,748<br>(25,001)<br>65,I36|
|At 3lst December2024|I,109,883|
|NET BOOK VALUE||
|At 3lst December2024|I,109,883|
|At3lst December2023|I,069,748|





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|E TOS:AOUNTSFALLINGUE|ITINO|NEY|EA|||
|---|---|---|---|---|---|
|||||31.12.24|31.12.23|
||||||t|
|Trade debtors|||||7,505|
|Prepayments|||||19,053|
||||||26,,559|
|C<br>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)|<br>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|



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|<br>FOTEYEARE<br>OVEENT INFUNS-continued<br>Coparativesformovementinnds|<br>NED31STE|<br>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)|<br>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)|1,145,005|
|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|





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|Acunentyear12monthsandpriory<br>asfollows:|ear12months combinednet|movementinf|unds, included in|theabove|
|---|---|---|---|---|
||Incoming|Resources|Gainsand|Movement|
||resources<br>t"|expended<br>f.|losses<br>t|infunds<br>t|
|Unrestricted funds<br>Generalfund|302,385|(370,395)||(68,0l0)|
|estricted funds<br>CooperMemorialFund||(257)|108,900|<br>108,643|
|TOTALFUNS|302,385|(370,652)||40,633|



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|The Societyisrequiredtoreportonsevenmetrics <br>effectivenessacrossthe socialhousing sector.|withwhichare usedtomeasureeoonom|y,efliciency|
|---|---|---|
||2024|20:13|
|Reinvestment|0%|0o/o|
|NewSupply Delivered|0o/o|0%|
|Gearing<br>EBITA MRIInterestCover|-64%<br>N/A|-640/o<br>N/A|
|Headline SocialHousingCost|fI 83,243|f,176,963|
|Operating Margin|-21%|'3lo/o|
|Return onCapital Employed|-2o/o|-3o/o|