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2020-12-31-accounts

PAGE
Legal and Administrative
Information
Report ofthe trustees and statement ofresponsibilities
Independent
auditors		 report
Statement ofComprehensive
Income
Statement of Financial Position 10
Statement ofChanges in Reserves
Statement ofCash Flows 12
Notes to the financial statements 13-23

LEGAL AND ADISINISTRATIVE LEGAL AND ADISINISTRATIVE INFORNIATION INFORNIATION
forthe year ended 31 December 2020
The Trustees who have swved from 1 January 2020 up to the date ofaPproval ofthe accounts
EX43FFICIOTRUSTEES Mayor Rokhsana
Fiaz		 (appointed 27th May 2021)
Vicar ofWest Ham —Simon Nichogs (appointed 27th Msy 2021)
Bryan Coaler (resigned 27th May 2021)
Rev Alex Summem (resigned 27th May 2021)
NOMINATIVE TRUSTEES Councillor Winston Vaughan (resigned 27th May 2021)
Cgr Shaban Mohammed (appointed 27th May 2021)
Cllr John Whitworth (appointed 27th Mey 2021)
Cllr Charlene
McLean		 (appointed 27th Mey 2021)
Cllr Ann Easter (appointed 27th May 2021)
Cllr Mum taz Khan (appointed 27th May 2021)
CO-OPTAllVE TRUSTEES Ms Marie Collier (resigned 27th May 2021)
Mr Henry Potter (Secretary)
Coundllor
Winston Vaughan		 (appointed 27th Mey 2021)
Bryan Coffler (appointed 27th May 2021)
REGISTERED OFFICE 29-35West Ham Lane
Stralford
London
E154PH
AUDITORS Beaver and Struthem
15Bunhig Row
London
EC1Y8LP
PRINCIPAL BANKERS National Westminster Bank PLC
Gredley House
1-11Broadway
Skafford
London
E154DX
REGISTERED PROVIDER OF A3311
SOCIAL HOUSING NUMBER
ALMSHOUSE NUMBER 1851
REGISTERED CHARITY NUMBER 207309

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Ieconm arel
EependSura Revaluegon
Rooolvo Rmuovo Total
2 5 9
Balance se stI Jonumy 2010 672,127 018,9H 1,401,073
Surplus I(do0ch) fmm Btctament ofComprehensive Inaoms 22,910 200,800
Balance ct31Dccmnlmr HH9 004,027 1.110,755 1.714,692
Surplus I(de0clt) from Statement CIComprehensive Income 40H40 IHLTSI 167,180
Bclchooct31 Qocomlmr HIBI

2020 2019
Notes
Nst cash generated fmm operadng activities (see Note I) 22,265 $0,4$2
Cash flow from investing
activities
Purchase oftangible fixed assets
Interest received		 ~2687
24,962		 2,602
~41184
Cash flow from financing
activities
Interest paid		 ~9
~9		 ~05
~05
Net change
In cash and cash equlvslenls		 24,05$ 41,000
Cash and cash equivalents
at beginning		 ofthe year 331,808 200438
Cash and cash equivalents
at end ofthe		 year 5%%8'
Note
I		 2020 2019
Cash flow from operating
activities
Surplus
/ (deficit) for ihe year		 48,440 22,010
Adjustments
fornon-cash gems:
Depreciation
oftangible fixed assets		 0,09$ 0.004
Decrease
/ (increase)
in trade and other debtors		 (20,110) 131
Increase /(decrease)
in trade and other creditors		 (7,120) 14.368
Government
grants utllised
In the year		 (4,341) (4,$42)
Adjustmsnts
for Investing orfinancing		 activities:
Interest payable 0 05
Interest receivable (2,607) (2,092)
Net cash generated from operating activities
Note 8 2020 2010
Analysis ofcash and cash equivalents
Current accounts $12404 290,019
Deposit accounts 44,565 41,077

PRINCIPAL ACCOUNTING
POLICIES (Continued)
2d Social Housing
Grani (congnued)
SHG due ormceivsd
in advance
ls Included ss e cunant a seater
lish ffy.
SHG is subordinated
to the repayment
ofloans by agreement		 wgh Homes England.
SHG released on sale ofa properly
msy be repayable
but ls		 not nonnaly
available
tobe recyctad		 end
is crsdged to a Recycled Capital Gant Fund and Included
in		 ths balance sheet credgors.
Where Individual
oomponents
are disposed
of and this does		 nol crests a relevant
event for racycgng		 purposes,
any grant which has bean afocsted to Iha component
is released lo the Income snd sxpsndaura		 account.
Upon disposal ofthe associated property,
lhe chaniy is required
to recycle		 these pmceeds.
2e Inveslmenls
Fixed asset Investments
am recognised
iniliagy at cost and are induded
In		 the Statement of Financial Posgcn at grs msdret value. Any change in valuation
between
rsporfng dales ls recognised
in Ihs Statement ofComprehensive		 Income end Ihe gsiruloss ofinvestments goes to the revalaugon mserves.
2f Depmcislion
Housing
Pm parties
The Charily separately
idenliTies Ihe major components
whbh
comprise
Its		 housing
pmperges,
and charges depmaetun,		 so
as to write down Ihe cost ofeach component
to Im estimated		 residual
value, on e straight
line bash, over		 its estimated
useful
economic Ife.
The Chanty deprsciatee ths major components
of ils housbg		 properties
over the fogowlng Ibes:
Structure - I20 years
Roof - 60years
Wiiidows - 30lvisrs
Electrical
Inshgatbn -30years
Heegng System -20 years
Boiler- la yama
Bathroom -30years
Kitchen - 20years
Freehold
land is not depreciated.
2g Impairment
Flnaroial assets sre assessed ateach mporling
dale to determine
whether there is sny objective evkience that a iinencial
gnanaal assets ls impaired.
Ifthere is objective evidence ofimpairment,
an impairment
loss is recognised
in progt or loss		 exeat orgroup of
Immediately.
The fallowing
financial
instruments
ars assessed
Individually		 ter impairment:
(a)
All equity instruments
regardless ofsignelcance;
and
(b)
Other tlnanclal assets that am ndivldually
slgngcant.
Giber gnsncisl instruments
ais aswrssed
for impairment
either iildhridually		 or grouped
on the beets of		 cimiior credit rick chsrcctorlstics.
An impairment
loss is measured es follows on Ihe folkming
instruments
measured
atcostoramortlsed		 cost:
Foran insbumenl
measured
alemoNsed
cost, ths impairment
loss is the differsnce
(a)
estimated
future cash flows discounted
atths asset's original effscfive interest rata.		 bsiwean ths asset's canylng amount and Ihe present value ofthe
Foran instrument
measured
atcost less impaiiment		 Ihe impairment loss is the difference beeves n Ihe easel's cenyln0 amount and the beet esgmets ofthe
(b)
amount that the enaty would receive forthe asset ifit		 were to be sold st Ihe mporting date
If, in a subsequent
pedad, the amount efan Impairment
loss		 decreases
and the decrease can be		 related objecdveiy lo en evenl occuntng
after the impalmisnl
wee recognised,
ths previously
recognised
impairment		 loss is reversed either directly or by adjusting an egowence
account. The reversal cannot msult In a carrying
amount (nst		 ofarrf allowance account) which exceeds what ths canylng amount would
have been had the impekmsni
not previously
been recognised
The amount ofthe reversal
is recognised		 in profll or loss immediately.
2h OlharFixsd Assets
Other Axed assets are staled stcost less depreciation.
Fixiume snd FStings aed Equlpmmlt
Deprecbtion
ofgxtures and Ettings and aquipmsnt
Is provided		 on e straight fine bash to write ogthe cost over Ihs
expected useful lye. The rate ofdepreciation
is20IL
Major Plant
Depreciation ofmajor plant is provided
on a straight
line basis to wnte offthe cost over the sxpecmd
useful Ife.The rate ofdepreciation
is 20'y.
WEST HAM NON. NON. ECCLESNSTICAL CHMETV ECCLESNSTICAL CHMETV
NOTES TO THE FINANCIAL STATEMENTS
forthe Veer ended 31December 2020
Congnued
Noise
3a PARTICULARS OF TURNOVER AND OPERATIHG SURPLUS
Turnover OPemthlg Operughg
Costs 8umlus
2020 W20 2020
E 2
sexual Housing Lettinge (nolo 3b) 100,200 (62rt56) 46,752
~(00RM 62. 66 45,762
Turnover Opsradng Opemgng
coess 8urplus
2010 2010 2010
2 2 2
soolsl Housing Lemnge (mae 3b) 111,355 (91,172) 20,183
~ttt 355 0
7		 20103
3b PARTICULARS OF INCOME AND EXPENDITURE FROM SOCIAL HOUSING LETTINGS
Gertertll needs Gsnaralnaede
Housing Houelrtg
2020 2010
2 0
Rent receivable net ofIdenggsble samoa charges and voids 76,966 74,427
3ervice charge income 28,902 32,576
Gmnt amorgcagcn 4,341 4,342
Turnover
fiom		 sacbl housing
lstllngs
Management 20,206 26.401
3uvices 17,425 26,230
Routine meintaneroe 3,022 26,210
Ead Debt Expense 3,720 4,174
Dspreciatbn ofhouslng propertbe 0,093 0,096
Other costs 1,064
Oparaang coals on mmhl housing lettlngs 62486 91,172
Oparagng
surplus		 on nuclei housing lsalnga
Void losses
ACCOMMODATION OWNED, IWWAGED AND IN DEVELOPMENT
2020 2019
Soelsl Housing 10 10

2020 2019
8 8
Investment
Income		 2,S80 2,804
Bank deposit interest 17
lier		 88
rea
5 INTEREST PAYABLE AND SEEILAR CHARGES
2020 2019
9 9
Bank charges 9
9		 65
8 NET INCOME
2020 2019
8 8
Surplus on ordinary sctivides before taxation isstated after charglng:-
Depreciation
of housing
Auditors'
remuneradon		 properties
(exduding		 VAT) - external audit 8,092
4.705		 8,095
4,554
The external auditors provided no other services In the year.

otes
10 HOUSING PROPERTIES Freehold
Land &Buildings Total
6 6
Cost
As at 1st January 2020 719,316 719,316
Additions
As at 31 December 2020 719,316 719,316
Depreciation
As at 1stJanuary 2020 292,299 292,299
Charge for the year 8,093 8,093
As at 31 December 2020 300,392 300,392
Nat BookValue
As at 31 December 2019 427017, 427,017
As at 31 December 2020 410,924 410,024

INVESTMENTS
2020f 2019f
Cost or valuation
As at 1 January 2020
Cost 21,609 21,609
Valuation 1,141,364 940,555
Additions
Disposals
Revaluation
As at 31 December 2020		 108,749
Tgs~		 200,809
Impairment
As at 1stJanuary 2020
Wdtten off
Eliminated
on disposals
As at 31 December 2020
Net BookValue
As at31December 2020		 ~141.38'
As at 31 December 2019 ~1.141,
4
The Investments
comprise the		 following:- 2020 2019f
The Charities
Official investment		 Fund
Income shares 13,101 13,101
Accumulation
shares		 8,508 8,508
g 21,636

2020 2019
8 2
Rent and service charges receivable
Less: provision for bad and doubfful debts		 21,254
~7,738
13,516		 19,930
~4.0101
15,912
Other Debtors 23,642 1,127
37100 , 17,033
13 CASH AT BANK AND IN HAND
2020 2019
8 2
Deposit account 41,877
Current accounts 312,284
88AR		 290.019
~&58

2020 2019
8 2
Deferred capital grant - (note 16) 4,341 4,341
Rent received in advance 9,204 10,933
Accruals 12,661 10,224
Other creditors 7,828
33,326
CREDITORS - AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2020 2019
8 8
Deferred capital grant - (note 16) 164,957
~&hi~		 169,298
~9
8
, 3

NOTES TOTHE FINANCIAL TOTHE FINANCIAL TOTHE FINANCIAL STATEMENTS STATEMENTS
for the year ended 31December 2020
Conffnued
16 DEFERRED CAPITAL GRANT
2020 2010
6 2
Asel1 January 173,639 177,981
Released to Income In the year (4,341) (4.342)
Aa at 31 December
To be amonlsed
In		 less then one year 4,341 4.341
To be amorssed
in		 mom than one year 104,957 109,290
Total accumulated government grant
The total accumulated
government
grant and
flnsnoisl assistance received or receivable st 31 December 520,920
17 REVENUE RESERVES
2020 2010
6 6
As et 1 January 594,938 572,128
Net movement
in funds		 48,430 22,812
As st 31 December
The principal affect ofadop0ng FRS 102hss been wsh regard to:
(I) Hisiorically SHG wes disclosed nehed against the related fined assets. It is now dissggregatsd snd shown es de
within creditors.
(ii) Deferred capital grants are accounted for under the accruels model -whereby en element ofIhe
grant ls amorlised in line with the asset's uiilisstlon. On trens2ion en adjustment hss been made
to rs6ect the emorlisalion
ofsuch grant		 to date and to dlssggngats the effect from net depreciation
previously
accounted for.The adjustment
also re0ects the review		 of component depreciation undertaken at the sa
adjustment
accounts for the increment		 in net funds.
18 INVESTINENT REVALUATION RESERVE
2020 2010
6 2
Ae st 1stJanuary 1,118,755 918,946
Unreelised
surplus		 I(deficit) on investmsnts 108,740 200,800
As at 31 December

The Charity's
financial
instruments		 The Charity's
financial
instruments		 The Charity's
financial
instruments		 may be enelysed as follows enelysed as follows
2020 2019
8 8
Financial Assets
Financial Assets Measured at Fair Value
Investments 1,250,113 1,141,364
Financial Assets Measured at Cost
Cash and cash equivalents 356,849 331,896
Financial Assets Measured at Amortised Cost
Rent and Service Charge Debtors 21,254 19,930
Other Debtors 23,642 1,127
Total Financial Assets
Financial Liabilities
Financial Liabilities Measured at Amortised Cost
Trade Creditors 9,204 10,933
Other Creditors 7,828
Total Financial Assets