2022-07-31-accounts

CONTENTS			Page
Report ofthe	Trustee		1-6
Independent	auditors'	report	7-9
Statement of	Financial	Activities	10
Balance sheet			11 —12
Statement of	Cash Flow		13
Notes to the financial		statements	14 —22

				Unrestricted	Endowment	Total	Total
		Note		Fund K	Fund	2021/22 f.	202072/ f
Income and endowments	from:
Charitable activities				1,093,884		1,093,884	1,098,712
Investments				385,751		385,751	284,003
Total				1,479,635		1,479,635	1,382,7/5
Expenditure on:
Charitable activities				938,793		938,793	1,202,769
Total				938,793		938,793	1,202,769
Net investment gains	on	property	6				80,000
investments
Net (losses)/gains	on	other	7		(89,916)	(89,916)	969,349
investments
Net income/expeoditure	and	net		540,842	(89,916)	450,926	1,229,655
movement in funds
Balances at 1 August				7,213,103	10,155,753	17,368,856	16,/39,20/
Balances at31July				7,753,945	10,065,837	17,819,782	/7,368,856

		Notes	31.07.22		31.07.21
Fixed assets
Property investments				230,000		230,000
Other investments				10,169,477		10,259,393
Almshouse property
improvements
At cost		8	2,465,931		2,465,931
Depreciation			(1,775,483)		(1,726,164)
				690,448		739,767
				11,089,925		11,229,160
Current assets
Debtors		9	236,364		234,223
Cash at bank			6,725,283		6,354,403
			6,961,647		6,588,626
Current liabilities
Creditors: Amounts
falling due within
one year		10	(231,790)		(448,930)
Net current assets				6,729,857		6,139,696
Total assets less current
Liabilities				17,819,782		17,368,856
Capital and reserves
Endowment capital				10,065,837		10,155,753
Unrestricted reserves:
Designated Funds		12
Extraordinary Repair	Fund		188,241		275,757
Cyclical Maintenance	Fund		1,250,188		1,106,314
Income and expenditure
Account		13	6,315,516		5,831,032
				7,753,945		7,213,103
				17,819,782		17,368,856

			2022	2021
Cash flow from operating activities:
Net cash usedin Iprovided by operating	activities	QFI;	(14,871)	848,461
Cash flow from investing activities:		yr" ' pr
Dividends, interest and rent from investments			385,751	284,003
Changes and cash and cash equivalents	in the year		370,880	1,132,464
Cash and cash equivalents at I August		CF2	6,354,403	5,221,939
Cash and cash equivalents at 31July		CF2	6,725,283	6,354,403

				2022	2021
Net income/expenditure				450,926	1,229,655
Adj ustments for: Investment income				(385,751)	(284,003)
(Gains)/losses on investments				89,916	(1,049,709)
Depreciation				49,319	49,319
(Increase)/decrease	in	debtors		(2,141)	703,422
Increase/(decrease)	in	creditors		(217,140)	199,777
Net cash provided	by	operating	activities	(14,871)	848,461
CF2 Analysis ofcash and cash			equivalents
				2022	2021
Cash in hand				6,725,283	6,354,403
Total cash and cash		equivalents		6,725,283	6,354,403
Analysis ofchanges		in net debt	At start ofyear	Cash flow	At end ofyear
Cash			~354403	~370	6725 283

r bequeathed as shown b	elow:
						Date
1-28Lambard House, Langdale Road, Greenwich,				London SE10		1968
1-40Queen Elizabeth's	College, Greenwich	High		Road, Greenwich,	London SE10	1574
136A-138CGreenwich	High Road, Greenwich,		London SE10			1773
Bruce Grove, Tottenham,	London N17					1870
Walter's Close, Southwark, London						1960&
						1971

2	Grants receivable
				2021/22	2020/21
	Maintenance contributions	from residents		1,163,044	1,174,873
	Less: void units			(124,660)	(/30,16/)
	The Drapers' Company			55,500	54,000
				1,093,884	1,098, 712
3	Interest receivable and other income
				2021/22	2020/21f
	Investment income			281,355	281,331
	Bank deposit interest				2,050
	Other income			104,396	622
				385,751	284,003
4	Surplus for the year
				2021/22	2020/21
	Surplus for the year is stated after charging: Depreciation —tangible fixed assets			49,319	49,319
	Auditors remuneration	(including	VAT)	14,022	15,738

5	Charitable Activities: Governance	Charitable Activities: Governance	and staff costs	and staff costs
					2021/22	2020/21
	Operating costs
	Services				322,193	325,297
	Management				214,771	263,407
	Depreciation				49,319	49,319
	Day to day maintenance				167,594	205,499
	Major repairs				184,916	359,247
					938,793	1,202,769
	Almshouse staff costs included	within operating		costs
	Wages and salaries				70,751	62,551
	Social Security costs				6,323	4,774
	Other pension costs				2,889	1,208
					79,964	68,533
					Number	/t/timber
	The average weekly number of	persons employed
	during the year was

				2021/22	2020/21
					F
Deficit	in	the	scheme	(471,000)	(660,000)

		Valuation	Valuation
		2021/22	2020/21
Balance at I August		230,000	150,000
Net investment	gains		80,000
Balance at 31	July	230,000	230,000

The freehold properties	held for investment	purposes	have been valued by Independent	have been valued by Independent	have been valued by Independent	Valuers, Knight	Valuers, Knight
Frank, as at 31 July 2022, on the basis of Open Market Value in accordance with						the	Appraisal &
Valuation Manual ofthe Royal Institution		ofChartered		Surveyors.
Other investments,
		Market		value		Cost
		31.07.22		31.07.21	31.07.20		31.07.21
		g		f
At I August Net investment gains	10,259,393 ~89,916)			9,290,044 969.349	2,586,471		2,586,471
At 31 July		10,169,477		10,259,393	2,586,471		2,586,471

These investments are Kingdom.	held within the	Drapers* Charities Poolin	g Scheme and all are held	in the United
Almshouse property	improvements	(see Note I)	31.07.22	31.07.21
				6
Cost
At beginning ofyear			2,465,931	2,465,931
At end ofyear			2,465,931	2,465,931
Less: Depreciation
At beginning ofyear			(1,726,164)	(1,676,845)
Charge for the year			(49,319)	(49,319)
At end ofyear			(1,775,483)	(1,726,164)
Net book value			690,448	739,767

9	Debtors: Amounts falling due within	Debtors: Amounts falling due within	Debtors: Amounts falling due within	Debtors: Amounts falling due within	one	year
							31.07.22	31.07.21
	Arrears ofmaintenance		contributions					917
	Rent arrears						29,185	12,076
	Accrued income							9,706
	Amount due from Anchor Hanover Group						196,739	171,274
	Sundry debtors						10,440	40,250
							236,364	234,223
10	Creditors: Amounts	falling due		within	one year
							31.07.22	31.07.21
								f.
	Rents						28,867	22,392
	Amount due to Anchor		Hanover	Group			80,001	310,947
	Sundry creditors and	accruals					122,922	115,591
							231,790	448,930
11	Capital reserve
							31.07.22	31.07.21
	Endowment Capital
	Balance at I August						10,155,753	9,106,044
	Net investment gains						(89,916)	1,049,709
	Balance at 31July						10,065,837	10,155,753
12	Designated Funds
						31.07.22	31.07.21
	Extraordinary Repair		Fund
	Balance at I August					275,757		540,201
	Contribution					97,399	94,804
	Expenditure				~((54,9(5		(359,248)
	Net transfer to		Income	and		(87,516)		(264,444)
	Expenditure account
	Balance at 31July					188,241		275,757
	Cyclical Maintenance		Fund
	Balance at I August Contribution Expenditure Net transfer from		Income	and	167,464 ~23,5991 143,874 1,106,314		116,809 989,505 162,964 ~(46155,
	Expenditure account
	Balance at 31July					1,250, 188		1,106,314

13	Movement in Income and Expenditure	Movement in Income and Expenditure	Movement in Income and Expenditure	Account
					2021/22	2020221
	Balance brought	forward			5,831,032	5,503,451
	Surplus for the	year			540,842	179,946
	Transfer from/(to)
	Cyclical Maintenance		Fund	13	(143,874)	(116,809)
	Extraordinary	Repair	Fund	13	87,516	264,444
	Balance carried forward				6,315,516	5,831,032
14	Analysis ofnet	assets
				Unrestricted	Endowment	Total
						31.07.22
	Property investments			230,000		230,000
	Other investments			103,640	10,065,837	10,169,477
	Almshouse Property			690,448		690,448
	Current assets			6,961,647		6,961,647
	Current liabilities			(231,790)		(231,790)
				7,753,945	10,065,837	17,819,782
	Analysis ofnet	assets	(continued)
				Unrestricted	Endowment	Total
						31.07.21
	Property investments			230,000		230,000
	Other investments			103,640	10,155,753	10,259,393
	Almshouse Property			739,767		739,767
	Current assets			6,588,626		6,588,626
	Current liabilities			(448,930)		(448,930)
				7,213,103	10,155,753	17368,856

7 Prior year SO	FA
		Unrestricted	Endowment	Total
		Fund	Fund	2020/21
			8
Income and endowments	from:
Charitable activities		1,098,712		1,098,712
Investments		284,003		284,003
Total		1,382,715		1,382,715
Expenditure on:
Charitable activities				1,202,769
Total		1,202,769		1,202,769
Net investment gains			1,049,709	1,049,709
Net income/expenditure		179,946	1,049,709	1,229,655
Transfer between funds
Net movement in funds
Balances at 1 August		7,033,157	9,106,044	16,139,201
Balances at 31July		7,213,103	10,155,753	17,368,856