2022-03-31-accounts

		Page
Legal and	Administrative Details
Report of	the Trustees	2-4
Report of	the Independent Accountants
Statement	ofFinancial Activities
Statement	ofFinancial Position
Statement	ofCash Flows
Notes to the Financial Statements		9 —20

Chairman			The Rev. Ross Gunderson
Vice-chairman			Mrs Val Barker —reappolnted 19	August 2020
Hon Treasurer			Mr Charles Noel
Other Trustees			The Bishop of London
			Cllr. Adronie Alford —reappointed	31 Dec 2020
			Ms Ev Hesketh
			Mrs V Lawrence-Gray
			Mr Esmond Jackson JP —reappointed 21 April 2021
			Mrs Clare Khalil —from 21 April 2021
			Cllr. Amends Lloyd-Harris
			Mrs Cat McNair
			Mr David Morris
			Ms Caroline Needham
			Cllr. Ann Rosenberg
			The Rev. Penny Seabrook
			Mrs Margaret Stephens —until 12 April 2021
Clerk to the		Trustees	Mrs Deborah Prescott
Assistant	Clerk to the Trustees		Mrs Katie Arengo-Jones
Registered	Office		313Fulham Palace Road London SW6 6TH
Bankers			National Westminster Bank Pic
			45 Fulham Broadway
			London SW6 1AG
Solicitors			Lee Bolton Monier Williams
			1 The Sanctuary
			London SW1P 3JT
Accountants			Beever and Struthers
			Statutory Auditors
			Chartered Accountants
			15 Bunhill Row
			London
			EC1Y8LP
Statutory	registrations		Registered Charity Number: 208562 Registered Provider Number: A0646
Governing		Document	Scheme dated 15 March 1977

					FOR THE YEAR	FOR THE YEAR	ENDED 31 MARCH 2022	ENDED 31 MARCH 2022
Indicator						2022	2021	Commenta
Reinvestment		in development			and	5.19%	041%	Capital works	had		been		postponed			prior year
capital works								during the		covid			pandemic.				Window
								replacement	on		the		first		floor	began		in
								February 2021.First				floor		lighting		in	common
								parts replaced		with		LED			lights,	movement
								sensors installed		in	li	hts on			both floors
New supply	delivered
Social housin		units						No additional	units
New supply	delivered
on-social	housin			units
Gearln
Interest cover		including						No loans are	held
ca italised	re	airs	EBITDA-MRI
Social housing		cost per unit				57,727	54,882	Prior year	repair			costs			reduced		during
								pandemic
Operating	margin					-19.23%	7.75%
Social housin		lettin		s				Prior year reduced				repair			costs	&	receipt	of
0 eratin	mar	in	overall			1923%	7.75%	furlough grants
Return on	ca	ital	em	lo ed		-1.53%	0.67%

				2022			2021
			Unrestricted	Restricted	Endowment
			Funds	Funds	Reserves	Total	Total
		Note	E	6	5	6	5
Income and endowments
from:
Donations and Legacies		2	1,000			1,000	100
Charitable activities		3	222,364			222,364	232,401
Investments		4	39,153			39,163	39,812
Total income and endowments			262,607			262,607	272 313
Expenditure on:
Charitable activities		5	260,606	460		261,055	210,056
Governance		6	4,496			4,496	4,326
Total expenditure			265,101	450		265,661	214,382
Income from charitable
activities and investments			(2,594)	(460)		(3,044)	57,931
less expenditure
Net gain / (losses) on investments			44,249		53,786	98,035	215,910
Net income / (expenditure)			41,656	(450)	63,786	94,991	273,841
Transfers between	funds		3,084		3,084)
Net Movement in funds			44,739	(450)	60,702	94,991	273,841
Reconciliation offunds:
Total funds brought	forward	18	997,225	1,064,662	636,491	2,698,268	2,424,427
Total funds carried		16	1,041,964	1,064,102	687,193	2,793,259	2,698,268
forward

					2022	2021
				Note
Fixed assets
Housing properties				11	1,367,810	1,306,904
Other fixed assets				12	1,307	839
Investments				13	1,326,401	1,210,488
					2,686,618	2,518,231
Current assets
Debtors				14	12,149	3,748
Cash at bank and	in hand				112,204	193,395
					124,353	197,143
Creditors: amounts		falling due within	one year	15	(16,612)	(17,108)
Net current assets					107,741	180,037
Net assets					2,793,269	2,698,2B8
Capital and reserves
Restricted reserves					1,064,102	1,064,552
Endowment reserves					687,193	636,491
Unrestricted reserves					1,041,964	997,225
Total charity funds				1B	2,793,259	2,698,268

			2022	2021
		Note	6
Cash flow from operating activities		18	(30,834)	40,540
Net cash flow from operating	activities		(30,834)	40,540
Cash flow from investing activities
Purchase oftangible fixed assets			(71,632)	(5,382)
Payments to acquire investments			(17,878)	(17,929)
Proceeds from movement in investments
Interest received			17	61
Dividends received			39,136	39,751
Net cash flow from investing activities			(60,367)	16,501
Net increase in cash and cash	equivalents		(81,191)	57,041
Cash and cash equivalents at	1 April 2021		193,396	136,354
Cash and cash equivalents at	31 March 2022		112,204
Cash and cash equivalents consists of:
Cash at bank and in hand			112,204	193,395
Cash and cash equivalents at	31 March 2022		112,204	193,395

idual val	ue, ofeach asset on a sys	tematic basis o
Fixtures,	fittings and equipment	5 years
Freehold	buildings	100years
Property	improvements	5 - 20 years
Rooting		30years

							2022	2021
							6
	Donations and Legacies						1,000	100
							1,000	100
3	Income from	charitable		activities
							2022	2021
							6	6
	Maintenance	contributions					198,720	198,501
	Guest rooms						216
	Sir William Powell management income Laundry &other income HMRC furlough grants						16,000 7,419	16,000 6,255 11,645
							222,354	232,401
	Void losses (being rental			income lost as a result of property		not being	10,636	2,997
	let, although	available	for letting)
4	Income from	investments
							2022	2021
							6
	Distributions	received	from the Endowment		Fund		18,746	18,107
	Distributions	received	from the Archie Arthur		Fund		3,513	3,716
	Distributions	reinvested		in the Extraordinary	Repair Fund		16,878	17,928
	Bank deposit	interest					17	61
							39,163	39,812

					Staff	Costs	Other Direct	Other Direct	Other Direct	Other	Total	Total
									Costs	Allocated	2022	2021
										Costs f
	Charitable	activities
	Clerk and admin					35,885					36,886	34,759
	Insurance								5,046		5,048	4,998
	Legal & professional		fees						14,23B		14,236	6,869
	Bank charges								399		399	400
	Stationery &sundries								2,199		2,199	2,038
	Catering &	entertainment							2,19B		2,196	519
	Depreciation								20,258		20,268	19,104
	Warden					17,966					17,966	17,386
	Utilities								37,33B		37,336	47,753
	Cleaning and Gardening					19,147			4,498		23,646	21,8B9
	Equipment	Maintenance							19,220		19,220	19,415
	Routine Maintenance								82,888		82,668	34,422
	Write offof	arrears										542
						72,999			188,066		261,065	210,055
6	Governance
											2022	2021
	Accounting	fees (including			VAT)					8	4,496	4,32B
											4,496	4,326
7	Net income/(expenditure)				for the yearending			31 March 2022
	Net income /	(expenditure)			is stated after charging			/	(crediting):
											2022	2021
											6
	Depreciation	oftangible		fixed assets							20,258	19,104
	Loss I (profit) on fair		value		movement	of investments					(98,036)	(215,910)

mounts pa	yable to auditor (excluding VAT):
			2022	2021
			6	6
Independent	examination ofthe accounts		2,070	1,970
Assurance	services other than audit or independent	examination	736	700
Other financial services - payroll			942	935

022 was	as	follows:
			2022		2022		2021		2021
			Number		FTE		Number		FTE
Charitable		activities		8		2		5
				8		2		5
he total	staff costs and employee		benefits were as follows;
							2022		2021
							6
Wages	and	salaries					70,197		69,207
Social security
Pension	Costs						1,812		1,804
Training	and other						990		(75)
							72,999		70,936

Housing properties
	Land	Housing	Property	Total
		Properties	Improvements
		6	6
Cost
At 1 April 2021	920,000	308,370	283,859	1,492,229
Additions			70,469	70,469
At 31 March 2022	920,000	308,370	334,328	1,562,698
Depreciation:
At 1 April 2021		95,596	89,729	185,325
Charge for the year		3,084	16,479	19,5B3
At 31 March 2022		98,680	106,208	204,888
Net book value:
At 31 March 2022	920,000	209,690	228,120	1,367,810
At 31 March 2021	920,000	212,774	174,130	1,306,904

Other fixed assets
	Fixtures,	Fittings	Fixtures, Fittings and
	and Equipment		Equipment	Total
	Housing		Office
	0		0
Cost
At 1 April 2021		42,165	15,135	57,300
Additions			1,1B3	1,163
Disposal
At 31 March 2022		42,165	16,298	58,463
Depreciation:
At 1 April 2021		42,165	14,296	56,461
Charge for the year			695	695
Disposal
At 31 March 2022		42,165	14,991	57,156
Net book value:
At 31 March 2022			1,307	1,307
At 31 March 2021			839	839

	Market Value	Market Value			Permanent	Permanent	Unrestricted	Funds		Total	Funds
					Endowment
					Fund
						Extraordinary		Archie	Arthur
							Repair
							f		f
	As at 1 April	2020			513,746		388,583		74,320		978,649
	Revaluations				106,184		92,852		16,894		215,910
	Additions
	Income re-invested						17,929				17,929
	Disposals
	As at 1 April	2021			619,910		499,364		91,214	1,210,488
	Revaluations					53,786	37,879		6,370		98,035
	Additions								1,000		1,000
	Income Re-invested						16,878				16,878
	Disposals
	As at 31 March 2022				673,696		654,121		98,684	1,326,401
he historical cost of listed investments					held as	at 31 March	2022 is f1,060,644. (2021:f1,043,866).
13b Investments
						Cost			Market Value
					31.3.2021		31.3.2022	31.3.2021		31.3.2022
					Restated
PERMANENT ENDOWMENT				FUND
COIF Charities Investment			Trust		582,027		582,027		B19,910		673,696
34,580.82 income units
EXTRAORDINARY		REPAIR		FUND
National	Association	ofAlmshouses			391,013		391,013		499,364		554,121
Common Investment		Fund
5,204.196accumulation units
ARCHIE ARTHUR		FUND
National	Association	ofAlmshouses			70626		71 826		91214		98 584
Common Investment		Fund
107,296.013income units
(2021:	106,186.381	income	units)
TOTALINVESTMENTS					1043666		~10 4666		1 210488		1 328 401

und reconc	iliation
	aalance at	ealnsi	Donation	Interest 6	Deprecla	Investment	Transfer to	Balance st
	1 April	(Losses)	Received	Investment	tlon	Gains	Cycgcal	31 March
	2021			Income			Maintenance	2022
A Arthur legacy	91,214		1,000			8,369		98,683
Cyclical
maintenance	57,712			8			(6,820)	60,900
Extraordinary repairs	499,384			16,878		37,880		664,122
Accumulated
surplus	348,935	(3,044)	(1,000)	(16,888)	3,534		6,820	338,368
Unrestricted
	997,225	(3,044)			3,534	44,249		1,041,964
Restricted
funds	1,064,552				(450)			1,064,102
permanent Endowment	836491				(3,084)	53,786		687,193
Total	2 698268	3 044				98036		2 793269

17	Analysis of net asset	s b	etwe	en	funds
						Unrestricted		Endowment	Restricted	Total
							fundsf	funds 6	funds 6	2022 6
	Fixed assets						934,223	687,193	1,0B4,102	2,686,618
	Cash and current assets						124,353			124,363
	Current liabilities						(16,612)			(16,612)
	Total						1,041,964	687,193	1,064,102	2,793,269
18	Reconciliation ofnet	income		/	(expenditure)		to net cash	flow from operating activities
									2022f	2021 6
	Net income (expenditure)		for	year					94,991	273,841
	Dividends received								(39,136)	(39,751)
	Interest receivable								(17)	(81)
	Depreciation and impairment			of	tangible	fixed	assets		20,268	19,104
	(Gains) / losses on investments								(98,036)	(215,910)
	(Increase) / decrease	in	debtors						(8,401)	(380)
	Increase / (decrease)	in	creditors						(494)	3,897
	Net cash flow from	operating			activities				(30,834)	40,540

21	Financial instruments
	The carrying amounts ofthe charity's		financial	instruments	are as follows:
						2022	2021
						8	8
	Financial assets
	Measured at fair value through	net income Iexpenditure:
	- Fixed asset listed investments	(note 13)				1,326,401	1,210,488
	Measured at cost
	Cash at bank and in hand					112,204	193,395
	Measured at amortised cost:
	- Trade and other debtors (note	14excluding		prepayments)		8,470		808
	Total Financial Assets					1,447,075	1,404,891
	Financial liabilities
	Measured at amortised cost
	- Trade and other creditors (note 15excluding			accruals)		8,563	10,526
	Total Financial Liabilities					8,583	10,528
22	Net Debt

			At 1 April	Cash	Non-Cash		At 31 March
			2021	Flows	Movements	8	2022f
	Cash and Cash Equivalents		193,395	(81,191)			112,204
Housing		Loans Due in One Year
Housing	Loans Due After One Year
			193,395	(81,191)			112,204