|||Page|
|---|---|---|
|Charity Information|||
|Report ofthe Trustees||2-5|
|Independent
Examination
Report|||
|Statement ofComprehensive
Income|||
|Statement ofFinancial Position|||
|Statement ofChanges in Reserves|||
|Cash Flow Statement||10|
|Notes to the Cash Flow Statement|||
|Notes to the Financial
Statements||12|
|Detailed Income and Expenditure|Account|19|
|TRUSTEES:|Mr A RPritchard|Mr A RPritchard|(Chairman)|(Chairman)|
|---|---|---|---|---|
||Mr EBrook (Vice Chairman)||||
||Cllr CCaller (Treasurer)|||(to 14February 2020)|
||Mrs KHurdle|(Treasurer)|||
||Cllr David Hurley||(Secretary)||
||Mr TArnold||||
||Mr C Meredith||||
||Mr BNewell||||
||Mrs KToor||||
|SECRETARY:|Cllr David Hurley||||
|TREASURER:|Cllr C Caller|(to 14February 2020)|||
||Mrs K Hurdle||||
|REGISTERED OFFICE:|c/o Gravesend|Churches||Housing Ass Ltd|
||14London Road||||
||Gravesend||||
||Kent||||
||DA11 9JQ||||
|REGISTERED NUMBER:|A3205||||
|CHARITY NUMBER:|209211||||
|INDEPENDENT KXAMINERSt|Beak Kemmenoe||||
||Chartered
Accountants||||
||1-3Manor Road||||
||Chatham||||
||Kent||||
||ME4 6AE||||
||Barclays Bank|Plc|||
||New Road||||
||Gravesend||||
||Kent||||
##
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##
|ln presenting
a Value|ln presenting
a Value|for|Money Statement|Money Statement|Money Statement|for 2020, Elizabeth|for 2020, Elizabeth|for 2020, Elizabeth|Huggins|Huggins|Huggins|Charity has adopted the Value for Money|Charity has adopted the Value for Money|Charity has adopted the Value for Money|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|Statement
Metrics introduced||||by the Regulator ofSocial Housing,||||||which are shown below.|||||
|1.
Reinvestment||%|||||||||||||
|Works to existing||||10,476||Housing
properties||at||||827,844|||
|properties||||||valuation|||||||||
|||||||||||||||A/B|
|||||10,476|A|||||||827,844|B|127%|
|2.
New Supply delivered %|||||||||||||||
|a)
Social Housing||||||b) Non-Social Housing|||||||||
|Units||||||Units|||||||||
|Total Social Housing|||||A|Total Non -Social|||||||A||
|units developed|or|||||Housing units|||||||||
|acquired
in the year||||||developed
or acquired|||||||||
|||||||in the year|||||||||
|Total Social Housing||||13||Total Social Housing||||||13|||
|Units Managed|at|||||Umts Managed|at||||||||
|period end||||||period end|||||||||
|||||||Total Non-Somal|||||||||
|||||||Housing
Units|||||||||
|||||||Managed
at period||end|||||||
|||||13|B|||||||13|B||
||||||A/B||||||||A/B||
|3.
Gearing|||||||||||||||
|Short term loans||||||Housing
properties|||at|||827,844|||
|||||||valuation|||||||||
|Long term loan|||||||||||||||
|Cash and cash|||(166,008)|||||||||||A/B|
|equivalents||~66.008||||||||||827844||~2006'/|
|4.
Earnings|before Interest, Tax, Depreciation,
Amortisation,||||||||||Major Repairs Included||||
|(KBITDAMRI) Interest Cover %|||||||||||||||
|Operating|||32,802|||Interest capitalised|||||||||
|surplus/(deficit)|||||||||||||||
|+Interest receivable||||935||Interest payable|and||||||||
|||||||financing
costs|||||||||
|+Total depreciation|||4,538|||||||||||A/B|
|charge|||||||||||||||
||||38,275||A||||||||||
##
|5.
Headlin|e
Social|e
Social|Housing C|ost g||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|Management|costs||13,898||Total Social Housing|||13||||
||||||Units Managed||at|||||
||||||period end|||||||
|Service charge||costs|773|||||||||
|Repairs &|||18,947|||||||||
|maintenance|costs|||||||||||
|Other (social|housing|||||||||||
|letting) costs||||||||||||
||||336 6|||||33||B|62 566|
|6.
Operating||Margin %||||||||||
|a)
Social Housing|||||b) Overall|||||||
|lettings||||||||||||
|Operating|||37,338|A|Operating|||32,802||A||
|surplus/(deficit)|||||surplus/(deficit)|||||||
|&om social housing|||||overall|||||||
|lettings||||||||||||
|Turnover
&om||social|70,956|8|Turnover|(overall)||70,956||8||
|housing
lettings||||||||||||
||||52.62%|||||46.23%||A/8||
|7.Return on|Capital Employed|||||||||||
|Operating|||32,802||Total assets less||current|1,026,135||||
|surplus/(deficit)|||||liabilities|||||||
|overall||||||||||||
||||||||||||A/8|
||||32,802|A||||,626|35|B|3.20%|
##
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|||||2020|2019|
|---|---|---|---|---|---|
||||Notes|f,||
|TURNOVER||||70,956|70,236|
|Administrative
expenses||||~38 154|41,092|
|OPERATING SURPLUS||||32,802|29,144|
|Other income|||||30,251|
|Interest receivable|and|similar income|5|935|943|
|RETAINED SURPLUS FORTHE|||YEAR|33,737|60,338|
|Unrealised
movement||on investment||||
|revaluation||||1,885|4,471|
|SURPLUS FOR|THE FINANCIAL||YEAR|35,622|64,809|
##
|||||2020||2019||
|---|---|---|---|---|---|---|---|
||||Notes|||||
|FIXEDASSETS||||||||
|Tangible assets|||||827,842||821,904|
|Investments|||||31,358||~29 473|
||||||859,200||851,377|
|CURRENT ASSETS||||||||
|Debtors||||6,199||7,597||
|Cash at bank||||166,008||137,767||
|||||172,207||145,364||
|CREDITORS||||||||
|Amounts
falling due|within one year||10|5,270||6,226||
|NET CURRENT ASSETS|||||166,937||139,138|
|TOTAL ASSETSLESSCURRENT||||||||
|LIABILITIES|||||1,026,137||990,515|
|RESERVES||||||||
|Property revaluation|reserve||||398,798||398,798|
|Designated
reserves|||||9,156||9,156|
|Investment
revaluation||reserves|||20,035||18,150|
|Income and expenditure||account|||598,148||564,411|
||||||1,026,137||990,515|
##
||Income &|Property|Designated|Investment|Total|
|---|---|---|---|---|---|
||expenditure|revaluation|reserves|revaluation||
||account|reserve||reserves||
||f.|||||
|Balance at 1stJanuary 2019|504,073|398,798|9,156|13,679|925,706|
|Surplus
from statement of||||||
|comprehensive
income|64,809||||64,809|
|Increase/(decrease)
in market value
ofinvestments|~4,471|||4,471||
|Balance at 31stDecember 2019|564,411|398798|9 156|18 15D|99D 515|
|Surplus
from statement of||||||
|comprehensive
income|35,622||||35,622|
|Increase/(decrease)
in market value
ofinvestments|~3.885|||1,885||
|Balance at 31stDecember 2020|598,148|398,798|9,156|20,035|1,026,137|
##
##
|||||2020|2019|
|---|---|---|---|---|---|
||||Notes|8||
|Cash Aews from operating|activities|||||
|Cash generated
from operations||||37,782|61469|
|Net cash from operating
activities||||37,782|61,469|
|Cash flows from investing|activities|||||
|Purchase oftangible
fixed assets||||(10,476)|(17,420)|
|Interest received||||935|943|
|Net cash from investing
activities||||~9,541)|~16,477)|
|Increase in cash and cash|equivalents|||28,241|44,992|
|Cash and cash equivalents|at beginning|of||||
|year|||2|137,767|92,775|
|Cash and cash equivalents|at end ofyear||2|166,008|137,767|
|RECONCILIATION|OF OPERATING SURPLUS TO CASH GENERATED FROM OPERATIONS|OF OPERATING SURPLUS TO CASH GENERATED FROM OPERATIONS|OF OPERATING SURPLUS TO CASH GENERATED FROM OPERATIONS|
|---|---|---|---|
|||2020|2019|
|Operating
surplus||33,737|60,338|
|Depreciation
charges||4,538|4,538|
|Finance income||~935)|~943|
|||37,340|63,933|
|Decrease/(Increase)
in
Decrease in trade and|trade and other debtors
other creditors|1,398
~956|(1,226)
~1238)|
|Cash generated
from|operations|37,782|61,469|
##
##
|Year|ended 31stDecember 2020|||
|---|---|---|---|
|||31.12.20|1.1.20|
||||f,|
|Cash|and cash equivalents|166,008|137,767|
|Year|ended 31st December 2019|||
|||31.12.19|1.1.19|
|Cash|and cash equivalents|137,767|92,775|
##
##
|ANALYSIS OF CHANGES IN NET|FUNDS|||
|---|---|---|---|
||At 1.1.20|Cash flow|At 31.12.20|
|Net cash||||
|Cash at bank|137,767|28,241|166,008|
||~137767|28,241|166,008|
|Total|137767|28,241|166,008|
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|2.||TURNOVER|||||
|---|---|---|---|---|---|---|
|||Income from|lettings||||
||||||Number ofunits|managed
by|
||||||Registered Social|Landlord
at|
||||||31December|1January|
||||||2020|2020|
|||Housing
units|||13|13|
||||||2020|2019|
||||||Total|Total|
||||||f||
|||Gross rents|||73,841|71,471|
|||Rent losses from voids|||(2,885)|(1,235)|
|||Rent losses from bad debts|||||
|||Management|charges||||
|||Total income|trom lettings||70,956|70,236|
|3.||OPERATING SURPLUS|||||
|||The operating|surplus|is stated after charging:|||
||||||2020|2019|
|||Depreciation|- owned|assets|~4538|4,538|
|4.||OTHER INCOME|||||
||||||2020|2019|
|||Donations received||||30,251|
|||||||30,251|
||5.|INTEREST RECEIVABLE AND SIMILAR INCOME|||||
||||||2020|2019|
|||||||f|
|||Deposit account interest|||32|58|
|||Interest income|||903|885|
||||||935|943|
##
##
|TANGIBLE FIXEDASSETS||||
|---|---|---|---|
||Housing|Housing|Totals|
||Properties|Properties||
|||(under||
|||construction)
I|f|
|COST||||
|At 1stJanuary 2020|808,315|73,881|882,196|
|Additions||10,476|10,476|
|At 31stDecember 2020|808,315|84,357|892,672|
|DEPRECIATION||||
|At 1stJanuary 2020|60,292||60,292|
|Charge for year|4,538||4,538|
|At 31stDecember 2020|64,830||60,292|
|NET BOOK VALUE||||
|At 31stDecember 2020|743,487|~84 357|827,844|
|At 31stDecember 2019|748 023|73,881|821,904|
##
##
|The carrying
amount ofassets held at valuation
i|sas follows:|||
|---|---|---|---|
||Housing|||
||Properties|||
|||Total|Total|
||2020|2020|2019|
|||f||
|Amount ofrevaluation|398,798|398,798|398,798|
|Historic cost|409,517|409,517|409,517|
||808,315|808,315|808,315|
|FIXEDASSETINVESTMENTS||||
||||Listed|
||||investments|
|COST OR VALUATION||||
|At 1st January 2020|||29,473|
|Revaluations|||1,885|
|At 31stDecember 2020|||31,358|
|NET BOOK VALUE||||
|At 31stDecember 2020|||31,358|
|At 31stDecember 2019|||29,473|
##
##
|8.|FIXEDASSETINVKSTMKNTS|- continued|||
|---|---|---|---|---|
||Historical cost information||||
||||2020|2019|
||The historical costofinvestments|held at|||
||valuation
is as follows:||||
||Historical cost||11,323|11,323|
|9.|DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR||||
||||2020|2019|
||Rent ledger||5,045|6,479|
||Prepayments
and accrued income||1,154|1,118|
||||6,199|7,597|
||Included
in the rent ledger are arrears of6980(2019:f.1,983).||||
|10.|CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR||||
||||2020|2019|
||Rent ledger in advance||2,338|1,593|
||Accruals and deferred income||2,932|4,633|
||||5,270|6,226|
##
##
|||||2020||2019||
|---|---|---|---|---|---|---|---|
|Turnover||||||||
|Dwelling
rents||||70,956||70,236||
||||||70,956||70,236|
|Other income||||||||
|Donations||||||30,251||
|Deposit account interest||||32||58||
|Interest income||||903||885||
||||||935||31,194|
||||||71,891||101,430|
|Expenditure||||||||
|GCHA Management|Fee|on||||||
|Rent Collection||||9,452||9,090||
|GCHA Management|Fee|on||||||
|Maintenance||||2,290||2,099||
|Insurance||||2,272||2,422||
|Light and heat||||772||981||
|Ground Maintenance||||4,841||7,438||
|Repairs &Maintenance||||11,816||9,131||
|Refurbishment
Costs||||||||
|Sundry expenses||||25||35||
|Accountancy||||1,008||2,448||
|Independent
Examination||Fee||840||840||
|Subscriptions||||||316||
|Services by management||company||300||1,754||
|Housing properties|depreciation||charge|4,538||4 538||
||||||38,154||41,092|
|NET SURPLUS|||||33,737||60338|