| BALANCE SHEET AS | AT | 31STDECEMBER 2020 | |||
|---|---|---|---|---|---|
| Notes | 2020 | 2019 | |||
| FIXEDASSETS | |||||
| Freehold land and buildings |
at Market Value | 1050000 | |||
| INVESTMENTS | 10539 | 10,886 | |||
| CURRENT ASSETS | |||||
| Debtors and Prepayments | 625 | 600 | |||
| Cash ai bank | 14,222 | 53,145 | |||
| 14847 | 53745 | ||||
| CURRENT LIABILITIES | |||||
| Creditors falling due within |
one year | 7787 | 3,137 | ||
| NET CURRENT ASSETS | 7060 | 50,608 | |||
| NET ASSETS | 1067599 | ~1006,778 | |||
| CAPITAL FUND | |||||
| Permanent Endowment |
659262 | 469262 | |||
| INCOME FUNDS | |||||
| General Purposes | 152925 | 292696 | |||
| Repair and Renovation | Fund | 78942 | 63212 | ||
| 891129 | 82 170 | ||||
| THIRD PARTY FUNDING | |||||
| Mortgage Loan |
176470 | 181608 | |||
| 1067,599 | 1006778 |
| FOR THE YEAR ENDED 31S | T | DECEMBER 2020 | |||||
|---|---|---|---|---|---|---|---|
| 2020 | 2019 | ||||||
| f | |||||||
| INCOMING RESOURCES | |||||||
| Weekly Maintenance Contributions |
27294 | 24029 | |||||
| Investment and Interest Income |
46Q | 466 | |||||
| Donations etc | 38870 | 67206 | |||||
| 66624 | 91701 | ||||||
| RESOURCES EXPANDED | |||||||
| Start up costs for renovated | cottages | 211Q | 0 | ||||
| Interest and finance charges | on loan | 9656 | 10135 | ||||
| Property Maintenance | 1518 | 1284 | |||||
| Gardening | 6260 | 1767 | |||||
| Water Services | 37 | 127 | |||||
| Insurance | 1131 | 1235 | |||||
| Subscriptions and sundry |
749 | 650 | |||||
| 21461 | 15198 | ||||||
| Net Incoming Resources before | Transfers | 45163 | 76503 | ||||
| PROYISIONS | |||||||
| Repair and Renovation Fund |
16500 | 14000 | |||||
| Unrealised change in value of investments |
-770 | 1268 | |||||
| 15730 | 15288 | ||||||
| NET INCOMING/(OUTGOING) | RESOURCES | ||||||
| FOR THE YEAR | 29433 | 61215 | |||||
| MOYEMENT OF FUNDS FOR THE YEAR ENDED | |||||||
| 3'1STDECEMBER 2020 | |||||||
| Endowed | General | RRF | TOTAL | ||||
| Fund Balance as at 1stJanuary | 2020 | 469262 | 292696 | 63212 | 825170 | ||
| Net Income Resources before Transfers | 0 | 45163 | 0 | 45163 | |||
| Reallocation ofcost ofbuilding | extensions | 172437 | -172437 | 0 | 0 | ||
| Investment Unrealised Loss for |
Year | 0 | Q | -770 | -770 | ||
| Revaiuation of Property 2020 |
17563 | 4003 | 0 | 21566 | |||
| Transfers to Special Reserves | 0 | -16500 | 16500 | 0 | |||
| Fund Balances as at December 2020 | 659262 | 152925 | 78942 | 891129 |
| 2020 | 2019 | ||
|---|---|---|---|
| NET CASH INFLOW FROM OPERATING ACTIVITIES | |||
| Weekly Maintenance Contributions |
received | 27294 | 24029 |
| Less Operating Costs |
21461 | 15198 | |
| 5833 | 8831 | ||
| Add INVESTMENT AND OTHER | INCOINE | ||
| Investment and Interest Income |
460 | 466 | |
| Donations etc | 38870 | 67206 | |
| 45163 | 76503 | ||
| Less LOAN REPAYMENTS AND | INVESTMENT SALES | ||
| Loan repayments | -5138 | -4890 | |
| Sales of Investments | 0 | 0 | |
| 71613 | |||
| Deduct NEW INVESTMENTS DURING YEAR | |||
| Reinvested in NAACIF Acc. Fund |
-423 | ||
| Expenditure on developments |
-83150 | ||
| 26393 | |||
| OTHER CHARGES IN CURRENT ASSETS | |||
| Increase in debtors less increase |
in creditors | 473 | |
| INCREASF IN CASH POSITION DURING YEAR | -38723 | 26866 | |
| Cash at bank on 1stJanuary 2020 | 53145 | 26279 | |
| CASH AT BANK ON 31STDECEMBER 2020 | 14422 | 53145 |
| Non | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Endowed | ||||||||||
| Exts. 1- | Non | Non | ||||||||
| Endowed | Endowed | 4+Parking | Endowed | Endowed | ||||||
| 2.LAND AND BUILDINGS | Land | Bldgs 1-3 | Ext. | Bldg 4 | Bldgs 5-7 | TOTAL | ||||
| Gross value at 31st Dec2019 | 340000 | 254211 | 146767 | 84737 | 298517 | 1124232 | ||||
| Costs incurred during 2020 |
0 | 0 | 83150 | 0 | 0 | 83150 | ||||
| Gross value at31stDec2020 | 340000 | 254211 | 229917 | 84737 | 298517 | 1207382 | ||||
| Reallocations | 0 | 172437 | -229917 | 57480 | 0 | 0 | ||||
| Depreciation at 1stJan. 2020 |
0 | -134211 | 0 | -44737 | 0 | -178948 | ||||
| Revaluation 2020 |
10000 | 7563 | 0 | 2520 | 1483 | 21566 | ||||
| Revisions to Valuation | 10000 | 45789 | -229917 | 15263 | 1483 | -157382 | ||||
| Revaluation at31stDec2020 |
350000 | 300000 | 0 | 100000 | 300000 | 1050000 | ||||
| 3.INVESTMENTS | RRF | Total | ||||||||
| Balance b/f at 1stJanuary 2020 | 10886 | 10886 | ||||||||
| 2020 dividends reinvested in NAACIF Accumulation |
shares | 423 | 423 | |||||||
| Decrease in valuation at 31 |
st | December 2020 | -770 | -770 | ||||||
| Market value of NAACIF Accumulation | share | at 31st December 2020 | 10539 | 10539 | ||||||
| 2020 | 2019 | |||||||||
| 4.CASH AT BANK | ||||||||||
| Cafgold | 12992 | 51515 | ||||||||
| Cafcash | 1229 | 1630 | ||||||||
| Total | 14221 | 53145 | ||||||||
| 5.THIRD PARTY FUNDING | ||||||||||
| Mortgage Loan outstanding | at | 1st January 2020 | 181608 | 186498 | ||||||
| Amount repaid during the year |
5138 | 4890 | ||||||||
| Mortgage Loan outstanding |
at 31stDecember | 2020 | 176470 | 181608 |