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|||Page|
|---|---|---|
|Trust Information|||
|Report ofthe Trustees|||
|Report ofthe Independent
Auditors|||
|Statement ofComprehensive
Income||10|
|Statement ofFinancial Position|||
|Statement ofChanges in Equity||12|
|Statement ofCash Flows||13|
|Notes to the Statement ofCash Flows||14|
|Notes to the Financial
Statements||15|
|Detailed Income and Expenditure|Account|24|
|TRUSTEES:|RGladwett|(Chairman)|(Chairman)||
|---|---|---|---|---|
||W Woolley|(Vice chairman)|||
||PPainter||||
||JWallace||||
||LMilner||||
||A Pritchard||||
||A Ridgers||||
||N Botley||||
||BHayre (appointed||12/05/2020)||
|SECRETARY:|ELPannell||||
|TREASURER:|PNebbs||||
|REGISTEREDOFFICE:|19Old Road West||||
||Gravesend||||
||Kent||||
||DA11 OLH||||
|REGISTERED NUMBER:|A3969||||
|CHARITY NUMBER:|210365||||
|ACCOUNTANTS:|Beak Kemmenoe||||
||Chartered Accountants||||
||&Statutory|Auditors|||
||1-3Manor Road||||
||Chatham||||
||Kent||||
||ME4 6AE||||
|AUDITORS:|UHY Kent LLPt/a UHY Hacker Young||||
||Thames House||||
||Roman Square||||
||Sittingbourne||||
||Kent||||
||ME104BJ||||
||National
Westminster|||Plc|
||30King Street||||
||Gravesend||||
||DA12 2XX||||
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|The Henry|Pinnock and Victoria &Albert|Pinnock and Victoria &Albert|Pinnock and Victoria &Albert|Pinnock and Victoria &Albert|Pinnock and Victoria &Albert|Memorial
Charity|Memorial
Charity|||
|---|---|---|---|---|---|---|---|---|---|
||Statement ofComprehensive|||||Income||||
||for|the|year ended||31stDecember||2020|||
||||||2020|||2019||
|||Notes|||||8|||
|TURNOVER|||||||324,126||317,436|
|Administrative
expenses|||||||(299404)||(326,200)|
|Other operating
income|||||||197||956|
|OPERATING SURPLUS/(DEFICIT)|||5||||25)019||(7,808)|
|Income from fixed asset investments|||||23,010|||21,910||
|Interest receivable
and similar income|||||~5577|||~6367||
||||||||~28 87||28 277|
|RETAINED SURPLUS FOR THE YEAR|||||||53,606||20,469|
|Unrealised
movement ofrevaluation of||||||||||
|investments|||||||(89,200)||285,388|
|Unrealised
movement ofrevaluation ofproperties|||||||1~052071||~142043|
|TOTAL COMPREHENSIVE INCOME||||||||||
|FOR THE YEAR|||||||1,016,477||447,900|
|NOTE OFHISTORICAL COST SURPLUSES AND||||||||||
|DEFICITS||||||||||
|Retained surplus for the year|||||||53,606||20,469|
|Difference between ahistorical cost depreciation||||charge||||||
|and the actual depreciation
charge for the year
calculated on the revalued
amount|||||||~6217||6,217|
||||||||59')23||~26686|
||||Statement|ofFinancial Position|||||
|---|---|---|---|---|---|---|---|---|
||||31st|December 2020|||||
|||||2020|||2019||
||||Notes||||||
|FIXEDASSETS|||||||||
|Tangible assets||||5,958,755||||4,939,808|
|Investments||||~1947||110||2 005 137|
|||||7,905,865||||6,944,945|
|CURRENT ASSETS|||||||||
|Debtors|||8|39,177|||39,707||
|Cash at bank||||~647 15|||599994||
|||||687,092|||639,701||
|CREDITORS
Amounts
falling due within||one year|9|~032|||~58,198)||
|NET CURRENT ASSETS|||||637,060|||581 503|
|TOTAL ASSETSLESSCURRENT|||||||||
|LIABILITIES||||8|42|25||7,526448|
|RESERVES|||||||||
|Revaluation
reserve|||10|4~0,908||||3,798,992|
|Other reserves|||10||499,968|||500.078|
|Designated
reserve
lucemc and expenditure|account||10
10|954,506
~07 543||||983,880
2,243,498|
|||||~8542||925||7/26,448|
||Retained|Revaluation|Other|Designated|Total|
|---|---|---|---|---|---|
||earnings|reserve|reserves|reserve|equity|
|||g||8||
|Balance at 1stJanuary 2019|2,324,213|3,371,994|499,645|882,696|7,078,548|
|Surplus from statement of|447,900||||447,900|
|comprehensive
income||||||
|Increase in properly
valuation|(142,043)|142,043||||
|Increase in market value of|(285,388)|284,955|433|||
|investments
transfer||||||
|Interest arising in the year transfer|(4,982)|||4,982||
|Transfer from income and||||||
|expenditure
account|96,202|||96202||
|Balance at31stDecember 2019|2,243,498|3,798,992|500,078|983,880|7,526,448|
|Surplus from statement of|1,016,477||||1,016,477|
|comprehensive
income||||||
|Increase in properly
valuation|(571,006)|571,006||||
|Decrease in market value of|89,200|(89,090)|(110)|||
|investments
transfer||||||
|Interest arising in the year transfer|(5,577)|||5,577||
|Transfer from income and||||||
|expenditure
account|35418|||25418||
|Balance at 31stDecember 2020|261~ 158|4280908|499968|954506|8542925|
||||Statement ofCash Flows|||
|---|---|---|---|---|---|
||for|the|year ended 31stDecember|2020||
|||||2020|2019|
|||Notes||||
|Cash flows from operating|activities|||||
|Cash generated
from operations||||~119367|~108 112|
|Net cash from operating
activities||||~119367|108,112|
|Cash flows from investing|activities|||||
|Purchase oftangible fixed assets||||(68,860)|(45,697)|
|Purchase offixed asset investments||||(31,173)|(30,076)|
|Interest received||||5)577|6,367|
|Dividends
received||||~23010|21910|
|Net cash from investing
activities||||71446|47496|
|Increase in cash and cash|equivalents|||47,921|60,616|
|Cash and cash equivalents|at beginning of|||||
|year|||2|599,994|539,378|
|Cash and cash equivalents|at end ofyear||2|647,915|~599 994|
|FROM OPERATIO|NS|||
|---|---|---|---|
||||2019I|
|Surplus before taxation|||447,900|
|Depreciation
charges|||97,679|
|Gain on revaluation|offixed assets||(427,431)|
|Finance income|||~28 277|
|||127,003|89,871|
|Decrease/(increase)
(Decrease)/increase|in trade and other debtors
in trade and other creditors|530
~816|(1,101)
~19342|
|Cash generated
from operations||~119 67|108,112|
##
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|Year|ended 31stDecember 2020|||
|---|---|---|---|
|||31.12.20|1.1.20|
|||6|6|
|Cash|and cash equivalents|~647915|~599 994|
|Year|ended 31stDecember 2019|||
|||31.12.19|1.1.19|
|Cash|and cash equivalents|599,994|539,378|
##
|ANALYSIS OF CHANGES IN NET|FUNDS|||
|---|---|---|---|
||At 1.1.20|Cash flow|At31.12.20|
||g|g||
|Net cash||||
|Cash at bank|~599 994|~47921|~647915|
|Total|~599994|~47 921|~647 915|
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|2.|TURNOVER|||||||
|---|---|---|---|---|---|---|---|
||||||Number ofunits||managed
by|
||||||Registered
Social||Landlord
at|
||||||31|December|1January|
|||||||2020|2020|
||Social Housing units —almshouses|||||60|60|
||Other rental properties|-non-social|housing|||7|7|
||Other rental properties|—commercial||||2|2|
|||||||69|09|
|||||Maintenance|Otber Rental|2020|2019|
|||||Charges|Income|Total|Total|
||Gross rents|||261,624|113,789|375,413|365,457|
||Rent losses from voids
Rent losses from bad debts
Management
charges|||(5,083)
~36.033)|~)0171)|(5,083)
~46204)|(2,455)
~45 566)|
||Total income from lettings|||220508|103618|324126|317436|
|3.|EMPLOYEES|||||||
|||||||2020|2019|
||Wages and salaries|||||~61272|59281|
||The average number ofemployees||during the|year was as follows:||||
|||||||2020|2019|
||Administration|||||||
||Wardens|||||||
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|The operating
surplus|is stated atter charging:|||||
|---|---|---|---|---|---|
|||||2020|2019|
|Depreciation - owned|assets|||1~01984|~97 679|
|TANGIBLE FIXED|ASSETS|||||
|||Social|Other|||
|||Housing|Freehold|Plant and||
|||Properties|Property|machinery|Totals|
||||||5|
|COST ORVALUATION||||||
|At 1st January 2020||2,908,553|2&379)625|10,506|5,298,684|
|Additions||68,860|||68,860|
|Revaluation
Disposals||481,065
~5998)|164,050||645,115
~598|
|At 31stDecember 2020||~3452 480|~43675|~10506|006661|
|DEPRECIATION||||||
|At 1stJanuary 2020||267,582|81,389|9,905|358,876|
|Charge for year||63,459|38,435|90|101)984|
|Revaluation
Eliminated
on disposal||(320400)
~5998)|(86,656)||(406,956)
~5998|
|At 31stDecember 2020||~4743|~33168|~9995|~47906|
|NET BOOK VALUE||||||
|At 31stDecember 2020||~3447737|10 07|511|~5958755|
|At 31stDecember 2019||2,640971|~2298236|601|~4939808|
##
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||Housing|Housing|Freehold|Freehold|||
|---|---|---|---|---|---|---|
||Properties||Property||Total|Total|
||2020|||2020|2020|2019|
|||g||f|0||
|Amount ofrevaluation|(720,214)||2,|149,681|1,429,467|784,352|
|Historic cost|4 177694|||393994|4566688|4503826|
||~3452480||~2543 675||~5,996155|~5,288 178|
|FIXEDASSETINVESTMENTS|||||||
|||||||Other|
|||||||investments|
|||||||g|
|COST OR VALUATION|||||||
|At 1stJanuary 2020||||||2,005,137|
|Additions
Revaluations||||||31,173
~99 99|
|At 31stDecember 2020||||||I 47,11(l|
|NET BOOK VALUE|||||||
|At 31stDecember 2020||||||~147 110|
|At 31stDecember 2019||||||~2005 137|
|Historical cost information|||||||
|The historical costofinvestments|held at valuation|is as|follows:||||
||||||2020|2019|
||||||8||
|Historical cost|||||773,023|741 999|
##
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|DEB|TORS:AMOUNTS FALLING DUE WIT|HIN ONE YEAR||
|---|---|---|---|
|||2020|2019|
|Trade|debtors|31,424|33,941|
|Other|debtors|~7753|~5766|
|||~39 177|~39 707|
##
|Included|in trade receivables|are rent arrears off9,978(2019:69,490).|||
|---|---|---|---|---|
|CREDITORSt AMOUNTS||FALLING DUE WITHIN ONE YEAR|||
||||2020
f|2019|
|Other creditors|||200|800|
|Accruals|and deferred income||~49832|~57 398|
||||~50 032|~58 198|
##
|Designated
Reserves|||||||
|---|---|---|---|---|---|---|
|||||Emergency|&||
||Extraordinary||Cyclical|Cyclical|||
||Repair||Maintenance|Maintenance||Total|
||8||||||
|At 1 January 2020|385,876||519,623|78,381||983,880|
|Interest arising in the year||855|4,658||64|5,577|
|Transfer from prior periods||||(70,369)||(70,369)|
|Transfer from income and
expenditure
account|~32.335||46 753|21|000|35,418|
|At 31December 2020|354|396|571034|29|075|954,506|
##
||||2020|2019|
|---|---|---|---|---|
|Contracted but not provided||for in the|||
|financial|statements||||
##
|||||2020||2019||
|---|---|---|---|---|---|---|---|
|Turnover||||||||
|Rents receivable||||103,618||98,136||
|Residents weekly contributions||||~220 508||219,300||
||||||324,126||317,436|
|Other income||||||||
|Sundry receipts||||197||956||
|Listed investment
income||||23,010||21,910||
|Deposit account|interest|||~5577||~6367||
||||||~28 784||~29 233|
||||||352,910||346,669|
|Expenditure||||||||
|Council tax and|water charges|||3,283||3,262||
|Insurance||||8,786||8,426||
|Light and heat||||5,867||6,512||
|Wages||||61,272||59,281||
|Telephone||||1,490||1,407||
|Repairs and renewals||||97,505||136,829||
|Administration|expenses|||2,249||4,546||
|Accountancy||||3,000||3,000||
|Legal fees||||11,103||1,998||
|Auditors'
remuneration||||2,640||3,119||
|Depreciation of|tangible fixed assets|||||||
|Housing property||||63,459||59,432||
|Other freehold|property|||38,435||38,141||
|Plant and machinery||||90||106||
||||||~299179||326,059|
||||||53,731||20,610|
|Finance costs||||||||
|Bank charges|||||125||141|
||||||53,606||20,469|
|Gain/Ross)
on revaluation||ofassets||||||
|(Loss)/gain
on revaluation||ofinvestments||(89,200)||285,388||
|Gain on revaluation ofinvestment|||property|1~052071||~142043||
||||||~962 871||427,431|
|NET SURPLUS|||||1~016477||447 900|