| Page | |||||||
|---|---|---|---|---|---|---|---|
| Report ofthe Corporate Trustee | 1-13 | ||||||
| Statement | on internal | control | systems | 14 | |||
| Corporate Trustees' responsibilities |
statement | 15 | |||||
| 16-18 | |||||||
| Independent | Audito(s | report | |||||
| Statement | of comprehensive | income | (induding | income and expenditure | account) | 19 | |
| Statement | offinancial | position | 20 | ||||
| Statement | of changes | in equity and | reserves | 21 | |||
| Statement | ofcash flows | 22 | |||||
| 23-32 |
| Residents Satisfaction |
Survey | 2022 | 2021 | ||||
|---|---|---|---|---|---|---|---|
| Satisfaction | with overall service | 100% | 100% | ||||
| Satisfaction | with the overall quality ofyour home |
100% | 100% | ||||
| Satisfaction | offeeling safe living in your almshouse |
100% | 99% | ||||
| Satisfaction | that your weekly maintenance | contribution | provides | value for | 97% | 96% | |
| mone Satisfaction |
that your utility contribution charge provides |
value | for money | 97% | 97% | ||
| Satisfaction | with repairs and maintenance |
100% | 96'/ | ||||
| Satisfaction | that Tiverton Almshouse Trust |
listen to your | views | and acts | 95% | 96% | |
| u on them |
| Note | 2022 | 2021 | |||
|---|---|---|---|---|---|
| F | |||||
| Turnover | 2 | 782,317 | 759,795 | ||
| Less: Operating costs |
4 | 1,022,481 | 765,498 | ||
| Operating deficit |
5 | (240,164) | (5,703) | ||
| Income from fixed | asset Investments | 33,558 | 29,334 | ||
| Interest receivable | and similar income | 9 | 6,563 | 71,171 | |
| Interest payable and similar charges |
10 | (15,031) | (10,762) | ||
| Unrealised/realised | gains | and losses on investments | 12 | (314,433) | 453,485 |
| Revaluation of investment |
properties | (10,000) | |||
| Surplus on ordinary activities for the year before tax |
(529,507) | 527,525 | |||
| Tax on surplus on |
ordinary | activities | |||
| Surplus )(deficit) | for the | year after tax | (529,507) | 527,525 | |
| Total comprehensive income for the year |
(529,507) | 527,525 |
| 2022 | 2021 | |||||||
|---|---|---|---|---|---|---|---|---|
| Notes | 6 | |||||||
| Fixed assets Tangible fixed assets Investment properties Other fixed assets Investments |
11 11 11 12 |
4,144,378 2,856,676 428,019 3,491,472 |
4,040,000 2,856,676 428,163 3,797,008 |
|||||
| 10,920,545 | 11,121,847 | |||||||
| Current assets | ||||||||
| Debtors | 13 | 57,532 | 51,375 | |||||
| Cash at bank and in | hand | 727,460 | 1,023,993 | |||||
| 784,992 | 1,075,368 | |||||||
| Creditors: amounts | falling | due within | 14 | 169 | 119 | 104,630 | ||
| one year | ||||||||
| Net current assets | 615,873 | 970,738 | ||||||
| Total assets less current | liabilities | 11536418 | 12,092,585 | |||||
| Creditors: amounts | falling due after | 15 | 519,511 | 546,171 | ||||
| more than one year | 11,016,907 | 11,646,414 | ||||||
| Capital and reserves Permanent endowment |
18 | 8,710,634 | 8,794,548 | |||||
| Expendable endowment Income and Expenditure |
reserves | 18 17 |
888,707 1,417,566 11,016,601 |
993,611 1,758,255 11,641!,414 |
| Permanent | Expendable | Other | ||||
|---|---|---|---|---|---|---|
| Endowment | Endowment | Reserves | Total | 2021 | ||
| F | E | f | 6 | F | ||
| At 31 December 2021 | 8,794,548 | 993,611 | 1,758,255 | 11,546,414 | 11,018,889 | |
| Surplus for year before |
gains | (215,074) | (215,074) | 84,040 | ||
| and losses from investments | ||||||
| Unrealised/realised gains and |
(83,914) | (104,904) | (125,615) | (314,433) | 453,485 | |
| losses on investments | ||||||
| Revaluation oftangible |
fixed | (10,000) | ||||
| assets | ||||||
| Total comprehensive income |
(83,914 | (104,904) | (340,689) | (529,507) | 527,525 | |
| Transfers | ||||||
| At 31 December 2022 | 8,710,634 | 888,707 | 1,417,566 | 11,016,907 | 11,546,414 |
| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| Note | 8 | |||||
| Net cash flow from operating | activities | 23 | (96,590) | 52,102 | ||
| Cash flow from investing activities |
||||||
| Rents received from investment properties |
||||||
| Payments to acquire tangible Proceeds from investments |
fixed assets | (185,305) 244,989 |
(6,289) 26,464 |
|||
| Purchase ofinvestments |
(229,499) | |||||
| Interest received | 6,383 | 6,171 | ||||
| Dividends received |
33,558 | 29,334 | ||||
| Net cash flow from investing | activities | (129,874) | 55,680 | |||
| Cash flow from financing activities |
||||||
| Repayment oflong-term loans Net cash flow from financing activities |
(45,681) (45,681) |
(43,007) (43,007) |
||||
| Net Increase I (decrease) In |
cash and cash | equivalents | (272,145) | 64,775 | ||
| Cash and cash equivalents | as at 1 January | 2022 | 1,056,272 | 991,497 | ||
| Cash and cash equivalents | as at 31 December 2022 | 784127 | , 1856272, | . | ||
| Cash and cash equivalents Cash at bank and in hand |
consist of: | 727,460 | 1,023,993 | |||
| Cash held as part of investment porffolio |
56,667 | 32,279 | ||||
| 784,127 | 1,556,272 |
| 2022 | 2021 | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Rents | receivable | excluding | service charges | 448,679 | 427,262 | |||||||
| Service charges | receivable | 104,808 | 99,507 | |||||||||
| Rent and service | charge | losses from voids | (6,250) | (3,789) | ||||||||
| Guest | room | income | 1,950 | |||||||||
| Social | Housing | Turnover | 549,187 | 522,980 | ||||||||
| Investment | property | Income | 233,130 | 236,815 | ||||||||
| 782317, | 759,795 | |||||||||||
| 3. UNITS |
IN MANAGEMENT | |||||||||||
| 2022 | 2021 | |||||||||||
| Social | housing | for older | people | 84 | 83 | |||||||
| Warden accommodation |
2 | 3 | ||||||||||
| 86 | 88 | |||||||||||
| 4. OPERATING |
COSTS | |||||||||||
| Support Costs f |
Social Housing |
Investment Properties f |
Total 2022 | Total 2021 f |
||||||||
| Estate management | costs: | |||||||||||
| Wages and salaries | 28,579 | 50,000 | 78,579 | 101,160 | ||||||||
| Estate costs | ||||||||||||
| Repairs and maintenance | 294,529 | 22, | 105 | 316,634 | 234,643 | |||||||
| Professional fees |
18,413 | 64,241 | 82,654 | 54,683 | ||||||||
| Utilitie s | 90,718 | 43,500 | 134,218 | 106,871 | ||||||||
| Insurance | 9,157 | 16,789 | 25,946 | 25,150 | ||||||||
| Sundry expenses | 8,514 | 5,198 | 13,712 | 9,158 | ||||||||
| Waste | 42 | 7,062 | 7,104 | 6,762 | ||||||||
| Cleaning | 4,823 | 2,454 | 7,277 | 6,923 | ||||||||
| Administrative | costs | |||||||||||
| Wages and salaries | 209,003 | 209,003 | 163,583 | |||||||||
| Staff costs | 2,688 | 2,688 | 90 | |||||||||
| Office running | costs | 31,884 | 31,884 | 25,512 | ||||||||
| Audit services | 4,158 | 4,158 | 3,780 | |||||||||
| Accountancy | services | 10,238 | 10,238 | 8,324 | ||||||||
| COVID19 expenses | 307 | 307 | 2,078 | |||||||||
| Plinsurance | 578 | 578 | 578 | |||||||||
| Subscriptions | 5,684 | 5,684 | 3,042 | |||||||||
| Bank charges | 894 | 894 | 908 | |||||||||
| Depreciation | 3,071 | 3,071 | 2,104 | |||||||||
| Profit/loss on |
disposal | 78,000 | 78,000 | |||||||||
| Investment mgm't fees |
9,852 | 9,852 | 10,149 | |||||||||
| 356,399 | 461,795 | 204,287 | 1,022,481 | 765,498 | ||||||||
| Apportionment | (356,399) | 225,602 | 130,797 | |||||||||
| 687,397 | 335,084 | 1,022,481 | 765,498 |
| 5. | OPERATING DEFICIT | ||||
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| f | f | ||||
| Operating deficit is stated after Operating leases - other assets |
charging: | 1,524 | 1,524 | ||
| 6. | AUDITORS' REMUNERATION |
||||
| 2022f | 2021 f |
||||
| Audit services | 4,158 | 3,780 | |||
| 4,158 | 3780, | ||||
| 7. | BOARD OF DIRECTORS OF | THE | CORPORATE TRUSTEE AND KEY MANAGEMENT | ||
| PERSONNEL REMUNERATION | |||||
| 2022f | 2021f | ||||
| The aggregate emoluments payable to key management personnel excluding employer |
78,579 | 70,540 | |||
| pension contributions |
| MPLOYEE | INFORM | ATION | |||||
|---|---|---|---|---|---|---|---|
| 2022 | 2021 | ||||||
| The average number |
of persons employed | during | the year | ||||
| expressed | In full time equivalents | (16 hours | or more per | ||||
| week) was: | |||||||
| Office staff | |||||||
| Wardens, | cleaners | and handyman | |||||
| 10 | |||||||
| Staff costs (for the above persons) Wages and salaries Employer's National Insurance Contributions Other pension costs |
254,137 19,057 14,388 267, 582 |
233,130 17,800 13,813 264,743 |
| 9. | INTEREST | RECEIVABLE AND SIMILAR INCOME | RECEIVABLE AND SIMILAR INCOME | RECEIVABLE AND SIMILAR INCOME | RECEIVABLE AND SIMILAR INCOME | ||||
|---|---|---|---|---|---|---|---|---|---|
| 2022 | 2021 | ||||||||
| f | f. | ||||||||
| Interest received | 6,383 | 6,171 | |||||||
| Miscellaneous | Income | 180 | 65,000 | ||||||
| 6,563 | 71,171 | ||||||||
| 10. | INTEREST | PAYABLE AND SIMILAR CHARGES | |||||||
| 2022 | 2021 | ||||||||
| Mortgage | interest | 15,031 | 10,762 | ||||||
| 15,031 | 10,782 | ||||||||
| 11. | TANGIBLE | FIXED | ASSETS | ||||||
| Housing Properties f |
Investment Properties |
Freehold Property f |
Computer Equipment |
Total | |||||
| COST OR | VALUATION | ||||||||
| At 1 January 2022 | 4,040,000 | 2,856,676 | 425,000 | 15,264 | 7,336,940 | ||||
| Additions Disposals |
182,378 ~78,0001 |
2,927 | 185,305 ~78,000 |
||||||
| At 31 December 2022 | 4,144,378 | 2,856,676 | 425,000 | 18,191 | 7,444,245 | ||||
| DEPRECIATION | |||||||||
| At 1 January 2022 | 12,101 | 12,101 | |||||||
| Charge for | year | 3,071 | 3,071 | ||||||
| At 31 December 2022 | 15,172 | 15,172 | |||||||
| NET BOOK VALUE | |||||||||
| At 31 December 2022 | 4,144,378 | 2,856,676 | 425,000 | 3,019 | 7,429,073 | ||||
| At 31 December 2021 | 4,040,000 | 2,856,676 | 425,000 | 3,163 | 7,324,839 |
| Expenditure on works to existing |
Expenditure on works to existing |
2020 | 2019 |
|---|---|---|---|
| properties | |||
| Amounts | charged to income and | 228,879 | 238,598 |
| expenditure | account |
| Valuation is represented by: |
Valuation is represented by: |
2022 F |
2021f | |
|---|---|---|---|---|
| Historical cost | 296,927 | 296,927 | ||
| Revaluation | 2,559,749 | 2,559,749 | ||
| 2,856,676 | 2856676, | , | ||
| Revaluation: | 2022 f |
2021f | ||
| Balance as at 31 December 2021 | 2,559,749 | 2,566,487 | ||
| Net ofadditions Revaluation Balance as at |
and transfers 31 December 2022 |
2559749, | 3,262 ~70.000 2,559,749 |
| 2022 f |
2021f | |||||
|---|---|---|---|---|---|---|
| MARKET VALUE OF LISTED INVESTMENTS | ||||||
| At 31 December 2021 | 3,797,008 | 3,359,604 | ||||
| Additions | 229,499 | |||||
| Disposal proceeds | (244,989) | (26,464) | ||||
| Realised gains/(losses) | (2,336) | 9,332 | ||||
| Unrealised gains/(losses) |
~0372,097 | 444,153 | ||||
| At 31 December 2022 | 3,467,085 | 3,786,625 | ||||
| Cash held as | part of investment | portfolio (movement) | 24,387 | 10,383 | ||
| 3,491,472 | 37970,06, | |||||
| Historical cost | 2,603,782 | 2,592,324 | ||||
| EBTORS —ALL RECEIVABLE | WITHIN ONE YEAR | |||||
| 2022 | 2021 | |||||
| f | ||||||
| Trade debtors | ||||||
| Social housing | rent arrears | 528 | 1,655 | |||
| Social housing | utility | arrears | ||||
| Other | 5,575 | 1,824 | ||||
| 6,103 | 3,479 | |||||
| Prepayments | and accrued income | 43,110 | 41,985 | |||
| Other debtors | 8,319 | 5,911 | ||||
| 57,532 | 51,375 | |||||
| REDITORS - | AMOUNTS | FALLING DUE WITHIN ONE | YEAR | |||
| 2022 | 2021f | |||||
| Mortgages | 29,404 | 33,395 | ||||
| Trade creditors and | rents | paid in | advance | 95,283 | 20,531 | |
| Other creditors | and | accruals | 44,432 | 50,704 | ||
| 169,119 | 104,630 | |||||
| REDITORS - AMOUNTS | FALLING DUE AFTER MORE THAN ONE YEAR | |||||
| 2022 | 2021 | |||||
| f | F | |||||
| Mortgages | 519,511 | 546,171 |
| 2022 | 2021 | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Analysis of maturity of debt: |
f | F | |||||||
| Less than one year or on demand Between one and two years Between two and five years Afier five years |
29,404 30,440 97,916 391,155 548,915 |
33,395 33,948 105,297 406,926 572,566 |
|||||||
| The mortgages mature in July |
2037. | ||||||||
| Capital is repayable in monthly instalments, which commenced loans in calculated based on SONIA and include an Adjustment |
in August 2004. Interest Spread. |
for both | |||||||
| The mortgages are secured |
on certain freehold | housing | and investment properties. |
||||||
| 17. | INCOME AND EXPENDITURE RESERVES | ||||||||
| Surplus | |||||||||
| 2021 f |
for yearf | Revaluation f |
Transferred f Utilised f. |
2022 f |
|||||
| Programme ofworks fund Extraordinary repair fund Cyclical maintenance fund Routine works 20,814 42,833 63,400 47,433 |
992,799 200,095 60,527 (20,814) (225,129) (194,983) (56,729) |
810,503 68,512 51,231 |
|||||||
| Other | 1,583,775 | (215,074) | (125,615) | (1,253,421) 497,655 |
487,320 | ||||
| 1,758,255 | (147,558( | (125,6 5( | 1,417,566 |
| 2022 | 2021 | ||
|---|---|---|---|
| 6 | f | ||
| Surplus / (deficit) for |
the year | (529,507) | 527,525 |
| Mortgage interest paid |
15,031 | 10,762 | |
| Interest received | (6,383) | (6,171) | |
| Dividends received |
(33,558) | (29,334) | |
| Depreciation/impairment | oftangible fixed assets |
3,071 | 2,104 |
| Realised (gain) / loss on disposal of investments |
2,336 | (9,332) | |
| Profit/loss on disposal |
of tangible fixed assets |
78,000 | |
| Unrealised (gains) / loss on investments |
312,097 | (444,153) | |
| Revaluation on tangible fixed assets |
10,000 | ||
| (Increase) / decrease Increase / (decrease) |
in trade and other debtors in trade and other creditors |
(6,157) 68,480 |
(2,141) ~i7, 158 |
| Net cash flow from operating activities |
(96,590) | 52,152 |
| LYSIS OF | CHANGES IN NET |
DEBT | |||
|---|---|---|---|---|---|
| 2021 | Cashgows | Non-cash changes |
2022 | ||
| f | |||||
| Long-term | borrowings | 546,171 | (26,660) | 519,511 | |
| Short-term | borrowings | 33,395 | (30,651) | 26,660 | 29,404 |
| Total liabilities Cash and cash equivalents |
579,566 ~7, 666,2 72 |
(30,651) 272,145 |
548,915 ~7%127, |
||
| Total | (476,706) | 241,494 | (235,212) |
| Page | |||||||
|---|---|---|---|---|---|---|---|
| Report ofthe Corporate Trustee | 1-13 | ||||||
| Statement | on internal | control | systems | 14 | |||
| Corporate Trustees' responsibilities |
statement | 15 | |||||
| 16-18 | |||||||
| Independent | Audito(s | report | |||||
| Statement | of comprehensive | income | (induding | income and expenditure | account) | 19 | |
| Statement | offinancial | position | 20 | ||||
| Statement | of changes | in equity and | reserves | 21 | |||
| Statement | ofcash flows | 22 | |||||
| 23-32 |
| Residents Satisfaction |
Survey | 2022 | 2021 | ||||
|---|---|---|---|---|---|---|---|
| Satisfaction | with overall service | 100% | 100% | ||||
| Satisfaction | with the overall quality ofyour home |
100% | 100% | ||||
| Satisfaction | offeeling safe living in your almshouse |
100% | 99% | ||||
| Satisfaction | that your weekly maintenance | contribution | provides | value for | 97% | 96% | |
| mone Satisfaction |
that your utility contribution charge provides |
value | for money | 97% | 97% | ||
| Satisfaction | with repairs and maintenance |
100% | 96'/ | ||||
| Satisfaction | that Tiverton Almshouse Trust |
listen to your | views | and acts | 95% | 96% | |
| u on them |
| Note | 2022 | 2021 | |||
|---|---|---|---|---|---|
| F | |||||
| Turnover | 2 | 782,317 | 759,795 | ||
| Less: Operating costs |
4 | 1,022,481 | 765,498 | ||
| Operating deficit |
5 | (240,164) | (5,703) | ||
| Income from fixed | asset Investments | 33,558 | 29,334 | ||
| Interest receivable | and similar income | 9 | 6,563 | 71,171 | |
| Interest payable and similar charges |
10 | (15,031) | (10,762) | ||
| Unrealised/realised | gains | and losses on investments | 12 | (314,433) | 453,485 |
| Revaluation of investment |
properties | (10,000) | |||
| Surplus on ordinary activities for the year before tax |
(529,507) | 527,525 | |||
| Tax on surplus on |
ordinary | activities | |||
| Surplus )(deficit) | for the | year after tax | (529,507) | 527,525 | |
| Total comprehensive income for the year |
(529,507) | 527,525 |
| 2022 | 2021 | ||||||
|---|---|---|---|---|---|---|---|
| Notes | 6 | ||||||
| Fixed assets Tangible fixed assets Investment properties Other fixed assets Investments |
11 11 11 12 |
4,144,378 2,856,676 428,019 3,491,472 |
4,040,000 2,856,676 428,163 3,797,008 |
||||
| 10,920,545 | 11,121,847 | ||||||
| Current assets | |||||||
| Debtors | 13 | 57,532 | 51,375 | ||||
| Cash at bank and in | hand | 727,460 | 1,023,993 | ||||
| 784,992 | 1,075,368 | ||||||
| Creditors: amounts | falling due within | 14 | 169 | 119 | 104,630 | ||
| one year | |||||||
| Net current assets | 615,873 | 970,738 | |||||
| Total assets less current | liabilities | 11536418 | 12,092,585 | ||||
| Creditors: amounts | falling due after | 15 | 519,511 | 546,171 | |||
| more than one year | 11,016,907 | 11,646414 | |||||
| Capital and reserves Permanent endowment |
18 | 8,710,634 | 8,794,548 | ||||
| Expendable endowment Income and Expenditure |
reserves | 18 17 |
888,707 1,417,566 11,016,601 |
993,611 1,758,255 11,641!,414 |
| Permanent | Expendable | Other | ||||
|---|---|---|---|---|---|---|
| Endowment | Endowment | Reserves | Total | 2021 | ||
| F | E | f | 6 | F | ||
| At 31 December 2021 | 8,794,548 | 993,611 | 1,758,255 | 11,546,414 | 11,018,889 | |
| Surplus for year before |
gains | (215,074) | (215,074) | 84,040 | ||
| and losses from investments | ||||||
| Unrealised/realised gains and |
(83,914) | (104,904) | (125,615) | (314,433) | 453,485 | |
| losses on investments | ||||||
| Revaluation oftangible |
fixed | (10,000) | ||||
| assets | ||||||
| Total comprehensive income |
(83,914 | (104,904) | (340,689) | (529,507) | 527,525 | |
| Transfers | ||||||
| At 31 December 2022 | 8,710,634 | 888,707 | 1,417,566 | 11,016,907 | 11,546,414 |
| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| Note | 8 | |||||
| Net cash flow from operating | activities | 23 | (96,590) | 52,102 | ||
| Cash flow from investing activities |
||||||
| Rents received from investment properties |
||||||
| Payments to acquire tangible Proceeds from investments |
fixed assets | (185,305) 244,989 |
(6,289) 26,464 |
|||
| Purchase ofinvestments |
(229,499) | |||||
| Interest received | 6,383 | 6,171 | ||||
| Dividends received |
33,558 | 29,334 | ||||
| Net cash flow from investing | activities | (129,874) | 55,680 | |||
| Cash flow from financing activities |
||||||
| Repayment oflong-term loans Net cash flow from financing activities |
(45,681) (45,681) |
(43,007) (43,007) |
||||
| Net Increase I (decrease) In |
cash and cash | equivalents | (272,145) | 64,775 | ||
| Cash and cash equivalents | as at 1 January | 2022 | 1,056,272 | 991,497 | ||
| Cash and cash equivalents | as at 31 December 2022 | 784127 | , 1856272, | . | ||
| Cash and cash equivalents Cash at bank and in hand |
consist of: | 727,460 | 1,023,993 | |||
| Cash held as part of investment porffolio |
56,667 | 32,279 | ||||
| 784,127 | 1,556,272 |
| 2022 | 2021 | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Rents | receivable | excluding | service charges | 448,679 | 427,262 | |||||||
| Service charges | receivable | 104,808 | 99,507 | |||||||||
| Rent and service | charge | losses from voids | (6,250) | (3,789) | ||||||||
| Guest | room | income | 1,950 | |||||||||
| Social | Housing | Turnover | 549,187 | 522,980 | ||||||||
| Investment | property | Income | 233,130 | 236,815 | ||||||||
| 782317, | 759,795 | |||||||||||
| 3. UNITS |
IN MANAGEMENT | |||||||||||
| 2022 | 2021 | |||||||||||
| Social | housing | for older | people | 84 | 83 | |||||||
| Warden accommodation |
2 | 3 | ||||||||||
| 86 | 88 | |||||||||||
| 4. OPERATING |
COSTS | |||||||||||
| Support Costs f |
Social Housing |
Investment Properties f |
Total 2022 | Total 2021 f |
||||||||
| Estate management | costs: | |||||||||||
| Wages and salaries | 28,579 | 50,000 | 78,579 | 101,160 | ||||||||
| Estate costs | ||||||||||||
| Repairs and maintenance | 294,529 | 22, | 105 | 316,634 | 234,643 | |||||||
| Professional fees |
18,413 | 64,241 | 82,654 | 54,683 | ||||||||
| Utilitie s | 90,718 | 43,500 | 134,218 | 106,871 | ||||||||
| Insurance | 9,157 | 16,789 | 25,946 | 25,150 | ||||||||
| Sundry expenses | 8,514 | 5,198 | 13,712 | 9,158 | ||||||||
| Waste | 42 | 7,062 | 7,104 | 6,762 | ||||||||
| Cleaning | 4,823 | 2,454 | 7,277 | 6,923 | ||||||||
| Administrative | costs | |||||||||||
| Wages and salaries | 209,003 | 209,003 | 163,583 | |||||||||
| Staff costs | 2,688 | 2,688 | 90 | |||||||||
| Office running | costs | 31,884 | 31,884 | 25,512 | ||||||||
| Audit services | 4,158 | 4,158 | 3,780 | |||||||||
| Accountancy | services | 10,238 | 10,238 | 8,324 | ||||||||
| COVID19 expenses | 307 | 307 | 2,078 | |||||||||
| Plinsurance | 578 | 578 | 578 | |||||||||
| Subscriptions | 5,684 | 5,684 | 3,042 | |||||||||
| Bank charges | 894 | 894 | 908 | |||||||||
| Depreciation | 3,071 | 3,071 | 2,104 | |||||||||
| Profit/loss on |
disposal | 78,000 | 78,000 | |||||||||
| Investment mgm't fees |
9,852 | 9,852 | 10,149 | |||||||||
| 356,399 | 461,795 | 204,287 | 1,022,481 | 765,498 | ||||||||
| Apportionment | (356,399) | 225,602 | 130,797 | |||||||||
| 687,397 | 335,084 | 1,022,481 | 765,498 |
| 5. | OPERATING DEFICIT | ||||
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| f | f | ||||
| Operating deficit is stated after Operating leases - other assets |
charging: | 1,524 | 1,524 | ||
| 6. | AUDITORS' REMUNERATION |
||||
| 2022f | 2021 f |
||||
| Audit services | 4,158 | 3,780 | |||
| 4,158 | 3780, | ||||
| 7. | BOARD OF DIRECTORS OF | THE | CORPORATE TRUSTEE AND KEY MANAGEMENT | ||
| PERSONNEL REMUNERATION | |||||
| 2022f | 2021f | ||||
| The aggregate emoluments payable to key management personnel excluding employer |
78,579 | 70,540 | |||
| pension contributions |
| MPLOYEE | INFORM | ATION | |||||
|---|---|---|---|---|---|---|---|
| 2022 | 2021 | ||||||
| The average number |
of persons employed | during | the year | ||||
| expressed | In full time equivalents | (16 hours | or more per | ||||
| week) was: | |||||||
| Office staff | |||||||
| Wardens, | cleaners | and handyman | |||||
| 10 | |||||||
| Staff costs (for the above persons) Wages and salaries Employer's National Insurance Contributions Other pension costs |
254,137 19,057 14,388 267, 582 |
233,130 17,800 13,813 264,743 |
| 9. | INTEREST | RECEIVABLE AND SIMILAR INCOME | RECEIVABLE AND SIMILAR INCOME | RECEIVABLE AND SIMILAR INCOME | RECEIVABLE AND SIMILAR INCOME | ||||
|---|---|---|---|---|---|---|---|---|---|
| 2022 | 2021 | ||||||||
| f | f. | ||||||||
| Interest received | 6,383 | 6,171 | |||||||
| Miscellaneous | Income | 180 | 65,000 | ||||||
| 6,563 | 71,171 | ||||||||
| 10. | INTEREST | PAYABLE AND SIMILAR CHARGES | |||||||
| 2022 | 2021 | ||||||||
| Mortgage | interest | 15,031 | 10,762 | ||||||
| 15,031 | 10,782 | ||||||||
| 11. | TANGIBLE | FIXED | ASSETS | ||||||
| Housing Properties f |
Investment Properties |
Freehold Property f |
Computer Equipment |
Total | |||||
| COST OR | VALUATION | ||||||||
| At 1 January 2022 | 4,040,000 | 2,856,676 | 425,000 | 15,264 | 7,336,940 | ||||
| Additions Disposals |
182,378 ~78,0001 |
2,927 | 185,305 ~78,000 |
||||||
| At 31 December 2022 | 4,144,378 | 2,856,676 | 425,000 | 18,191 | 7,444,245 | ||||
| DEPRECIATION | |||||||||
| At 1 January 2022 | 12,101 | 12,101 | |||||||
| Charge for | year | 3,071 | 3,071 | ||||||
| At 31 December 2022 | 15,172 | 15,172 | |||||||
| NET BOOK VALUE | |||||||||
| At 31 December 2022 | 4,144,378 | 2,856,676 | 425,000 | 3,019 | 7,429,073 | ||||
| At 31 December 2021 | 4,040,000 | 2,856,676 | 425,000 | 3,163 | 7,324,839 |
| Expenditure on works to existing |
Expenditure on works to existing |
2020 | 2019 |
|---|---|---|---|
| properties | |||
| Amounts | charged to income and | 228,879 | 238,598 |
| expenditure | account |
| Valuation is represented by: |
Valuation is represented by: |
2022 F |
2021f | |
|---|---|---|---|---|
| Historical cost | 296,927 | 296,927 | ||
| Revaluation | 2,559,749 | 2,559,749 | ||
| 2,856,676 | 2856676, | , | ||
| Revaluation: | 2022 f |
2021f | ||
| Balance as at 31 December 2021 | 2,559,749 | 2,566,487 | ||
| Net ofadditions Revaluation Balance as at |
and transfers 31 December 2022 |
2559749, | 3,262 ~70.000 2,559,749 |
| 2022 f |
2021f | |||||
|---|---|---|---|---|---|---|
| MARKET VALUE OF LISTED INVESTMENTS | ||||||
| At 31 December 2021 | 3,797,008 | 3,359,604 | ||||
| Additions | 229,499 | |||||
| Disposal proceeds | (244,989) | (26,464) | ||||
| Realised gains/(losses) | (2,336) | 9,332 | ||||
| Unrealised gains/(losses) |
~0372,097 | 444,153 | ||||
| At 31 December 2022 | 3,467,085 | 3,786,625 | ||||
| Cash held as | part of investment | portfolio (movement) | 24,387 | 10,383 | ||
| 3,491,472 | 37970,06, | |||||
| Historical cost | 2,603,782 | 2,592,324 | ||||
| EBTORS —ALL RECEIVABLE | WITHIN ONE YEAR | |||||
| 2022 | 2021 | |||||
| f | ||||||
| Trade debtors | ||||||
| Social housing | rent arrears | 528 | 1,655 | |||
| Social housing | utility | arrears | ||||
| Other | 5,575 | 1,824 | ||||
| 6,103 | 3,479 | |||||
| Prepayments | and accrued income | 43,110 | 41,985 | |||
| Other debtors | 8,319 | 5,911 | ||||
| 57,532 | 51,375 | |||||
| REDITORS - | AMOUNTS | FALLING DUE WITHIN ONE | YEAR | |||
| 2022 | 2021f | |||||
| Mortgages | 29,404 | 33,395 | ||||
| Trade creditors and | rents | paid in | advance | 95,283 | 20,531 | |
| Other creditors | and | accruals | 44,432 | 50,704 | ||
| 169,119 | 104,630 | |||||
| REDITORS - AMOUNTS | FALLING DUE AFTER MORE THAN ONE YEAR | |||||
| 2022 | 2021 | |||||
| f | F | |||||
| Mortgages | 519,511 | 546,171 |
| 2022 | 2021 | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Analysis of maturity of debt: |
f | F | |||||||
| Less than one year or on demand Between one and two years Between two and five years Afier five years |
29,404 30,440 97,916 391,155 548,915 |
33,395 33,948 105,297 406,926 572,566 |
|||||||
| The mortgages mature in July |
2037. | ||||||||
| Capital is repayable in monthly instalments, which commenced loans in calculated based on SONIA and include an Adjustment |
in August 2004. Interest Spread. |
for both | |||||||
| The mortgages are secured |
on certain freehold | housing | and investment properties. |
||||||
| 17. | INCOME AND EXPENDITURE RESERVES | ||||||||
| Surplus | |||||||||
| 2021 f |
for yearf | Revaluation f |
Transferred f Utilised f. |
2022 f |
|||||
| Programme ofworks fund Extraordinary repair fund Cyclical maintenance fund Routine works 20,814 42,833 63,400 47,433 |
992,799 200,095 60,527 (20,814) (225,129) (194,983) (56,729) |
810,503 68,512 51,231 |
|||||||
| Other | 1,583,775 | (215,074) | (125,615) | (1,253,421) 497,655 |
487,320 | ||||
| 1,758,255 | (147,558( | (125,6 5( | 1,417,566 |
| 2022 | 2021 | ||
|---|---|---|---|
| 6 | f | ||
| Surplus / (deficit) for |
the year | (529,507) | 527,525 |
| Mortgage interest paid |
15,031 | 10,762 | |
| Interest received | (6,383) | (6,171) | |
| Dividends received |
(33,558) | (29,334) | |
| Depreciation/impairment | oftangible fixed assets |
3,071 | 2,104 |
| Realised (gain) / loss on disposal of investments |
2,336 | (9,332) | |
| Profit/loss on disposal |
of tangible fixed assets |
78,000 | |
| Unrealised (gains) / loss on investments |
312,097 | (444,153) | |
| Revaluation on tangible fixed assets |
10,000 | ||
| (Increase) / decrease Increase / (decrease) |
in trade and other debtors in trade and other creditors |
(6,157) 68,480 |
(2,141) ~i7, 158 |
| Net cash flow from operating activities |
(96,590) | 52,152 |
| LYSIS OF | CHANGES IN NET |
DEBT | |||
|---|---|---|---|---|---|
| 2021 | Cashgows | Non-cash changes |
2022 | ||
| f | |||||
| Long-term | borrowings | 546,171 | (26,660) | 519,511 | |
| Short-term | borrowings | 33,395 | (30,651) | 26,660 | 29,404 |
| Total liabilities Cash and cash equivalents |
579,566 ~7, 666,2 72 |
(30,651) 272,145 |
548,915 ~7%127, |
||
| Total | (476,706) | 241,494 | (235,212) |
| Tiverton Almhouse Accounts and audit adjustments |
T | ru | st | |||
|---|---|---|---|---|---|---|
| Profit &Loss | Balance | B/forward | ||||
| Account | Sheet | reserves | Profit | |||
| Dr/(Cr) E |
Dr I(Cr) 8 |
Dr/(Cr)f | effect E |
|||
| Accounts adjustments | ||||||
| 1 Fixed asset disposal Loss on disposal |
78,000 | (78,000) | (78,000) | |||
| Dispose of original cost | of | |||||
| windows | ||||||
| 2 Depreciation (BS) Depreciation expense |
(9,119) | 9,119 | 9,119 | |||
| Remove depreciation | of | |||||
| windows | ||||||
| 3 Bank Interest income |
(1,315) | 1,315 | 1,315 | |||
| Shawbrooks interest | not posted | |||||
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