|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|