| Trust Information | ||
|---|---|---|
| Report ofthe Trustees | ||
| Report ofthe Independent Auditors |
||
| Statement ofComprehensive Income |
12 | |
| Statement ofFinancial Position | 13 | |
| Statement ofChanges in Equity | 14 | |
| Statement ofCash Flows | 15 | |
| Notes to the Statement ofCash Flows | 16 | |
| Notes to the Financial Statements |
17 | |
| Detailed Income and Expenditure | Account | 26 |
| TRUSTEES: | RGladwell | (Chair —resigned January 2022) | (Chair —resigned January 2022) |
|---|---|---|---|
| WWoolley | |||
| P Painter (Chair from | January 2022) | ||
| JWallace | |||
| LMilner | |||
| APritchard | |||
| A Ridgers | |||
| N Botley | |||
| BHayre Singh | |||
| SECRETARY: | ELPannell | ||
| TREASURER: | SOrme FCCA | ||
| REGISTERED OFFICE: | The Lodge | ||
| StThomas's | Almshouses | ||
| Old Road West | |||
| Gravesend | |||
| DA11 7LA | |||
| REGISTERED NUMBElt | A3969 | ||
| CHARITY NUMBER: | 210365 | ||
| AUDITORS: | Beak Kemmenoe | ||
| Chartcrcd Accountants | |||
| &Statutory | Auditors | ||
| 1-3Manor Road | |||
| Chatham | |||
| Kent | |||
| ME4 6AE | |||
| National Westminster | Pic | ||
| 30King Street | |||
| Gravesend | |||
| DA12 2XX |
| Metrics introduced by t |
Metrics introduced by t |
Metrics introduced by t |
Metrics introduced by t |
he Reg | ulator ofSocial | Housin | g, which |
are show | n b | elow | . | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. Reinvestment |
% | |||||||||||||
| Housing | properties | at | ||||||||||||
| Works to existing | properties | 93380 | valuation | 5,902,164 | ||||||||||
| 93,380 | A | 5,902,164 | B | 1.58% | ||||||||||
| 2. New Supply |
||||||||||||||
| delivered % | ||||||||||||||
| a) Social Housing | Units | b) Non-Social Housing | Units | |||||||||||
| Total Non -Social Housing | ||||||||||||||
| Total Social Housing | units | units developed or | acquired | in | ||||||||||
| developed or acquired |
in the year | 0 | A | ihe year | 0 | A | ||||||||
| Total Social Housing | Units | Total Social Housing Units | ||||||||||||
| Managed at period | end | 60 | Managed | at period | end | 60 | ||||||||
| Total Non-Social Housing | ||||||||||||||
| Units Managed at period end | 16 | |||||||||||||
| 60 | B | 76 | B | |||||||||||
| A/B | A/B | |||||||||||||
| 3. Gearing |
||||||||||||||
| Housing | properties | at | ||||||||||||
| Short term loans | valuation | 5,902,164 | ||||||||||||
| Long term loans | ||||||||||||||
| Cash and cash equivalents | 587,827 | |||||||||||||
| 587,827 | A | 5 902 164 | B | 9.96% | ||||||||||
| 4. Earnings |
before Interest, Tax, Depreciation, | Amortisation, | Major | Repairs | Included | |||||||||
| (EBITDAMRI) | Interest | Cover % | ||||||||||||
| Operating surplus/(deficit) |
(114,426) | Interest capitalised | ||||||||||||
| Interest payable and financing | ||||||||||||||
| +Interest receivable | 26,939 | costs | ||||||||||||
| +Total depreciation | charge | 134368 | ||||||||||||
| 46,781 | A | 0 | B |
| Headline Social |
Headline Social |
Housing Cost E | Housing Cost E | ||||||
|---|---|---|---|---|---|---|---|---|---|
| Total Social Housing Units | |||||||||
| Mansgemen tcosts |
88,301 | Managcd | at period end | 60 | |||||
| Service charge costs |
9,738 | ||||||||
| Repairs gt maintenance costs |
153,987 | ||||||||
| Other (social housing | letting) | costs | 0 | ||||||
| 252,026 A | 60 | B | 84,200 | ||||||
| 6 Operating |
Margin % | ||||||||
| a) Social Housing lettings |
b) Overall | ||||||||
| Operating surplus/(deficit) from |
|||||||||
| social housing lettings | (76982) A | Operatingsurplus/(deficit)overall | (114426) | A | |||||
| Turnover lrom social | housing | let tinge | 215419 B | Turnover | (overall) | 319,112 | B | ||
| -3574% A/B | -3586% | A/B | |||||||
| 7. Return on |
Capital Employed | ||||||||
| Operating surplus/(deficit) overall |
(114,426) | Total assets less current | liabilities | 8,691,807 | |||||
| (114,426) A | 8,691,807 | B | -1.32% |
| 2021 | 2020 | |||||
|---|---|---|---|---|---|---|
| Notes | ||||||
| TURNOVER | 319,112 | 324,126 | ||||
| Administrative expenses |
(433,903) | (299,304) | ||||
| Other operating income |
365 | 197 | ||||
| OPERATING SURPLUS/(DEFICIT) | (114,426) | 25,019 | ||||
| Income from fixed asset investments | 19,832 | 23,010 | ||||
| Interest receivable and similar income |
7,107 | 5,577 | ||||
| 26,939 | 28,587 | |||||
| RETAINED (DEFICIT) / SURPLUS FORTHE | ||||||
| YEAR | (87,487) | 53,606 | ||||
| Unrealised movement ofrevaluation |
ofinvestments | 236,370 | (89,200) | |||
| Unrealised movement ofrevaluation |
ofproperties | 1,052,071 | ||||
| TOTAL COMPREHENSIVE INCOME FOR | THE | |||||
| YEAR | 148,883 | 1,016,477 | ||||
| NOTE OF HISTORICAL COST | SURPI USES AND | |||||
| DEFICITS | ||||||
| Retained surplus for the year | (87,487) | 53,606 | ||||
| Difference between ahistorical cost | depreciation | charge and the | ||||
| actual depreciation charge for the year calculated |
on the revalued | |||||
| amount | 6,217 | |||||
| (87,487) | 59,823 |
| Statement ofFinancial Position | |||||
|---|---|---|---|---|---|
| 31stDecember 2021 | |||||
| 2021 | 2020 | ||||
| Notes | |||||
| FIXEDASSETS | |||||
| Tangible assets | 5,902,164 | 5,95$,755 | |||
| Investments | 2,183,479 | 15947,110 | |||
| 8,085,643 | 7,905,865 | ||||
| CURRENT ASSETS | |||||
| Debtors | 38,985 | 39,177 | |||
| Cash at bank | 5$7,$27 | 647,915 | |||
| 626412 | 687,092 | ||||
| CREDITORS | |||||
| Amounts falling due within one year |
(20,647) | (50,032) | |||
| NET CURRENT ASSETS | 606,164 | 637,060 | |||
| TOTAL ASSETSLESSCURRENT | |||||
| LIABILITIES | 8,691,808 | 5,552,525 | |||
| RESERVES | |||||
| Revaluation reserve |
4,516,772 | 4,280,908 | |||
| Other reserve | 10 | 500,474 | 499,968 | ||
| Designated reserve |
10 | 954,506 | 954,506 | ||
| Income and expenditure | account | 2,720,056 | 2,807,543 | ||
| 8,691,$0$ | 8,542,925 |
| Retained | Revaluation | Other | Designated | Total | |
|---|---|---|---|---|---|
| earnings 8 |
reserve | reserves | reserve | equity f |
|
| Balance at 1stJanuary 2020 | 2,243,498 | 3,798,992 | 500,078 | 983,880 | 7,526,448 |
| Surplus &om statement of | |||||
| comprehensive income |
1,016,477 | 0 | 1,016,477 | ||
| Increase in property valuation |
(571,006) | 571,006 | 0 | ||
| Increase in market value of | |||||
| invesunents transfer |
89,200 | (89,090) | (110) | 0 | |
| Interest arising in the year transfer |
(5,577) | 0 | 0 | 5,577 | |
| Transfer fmm prior periods | 70,369 | 0 | 0 | (70,369) | |
| Transfer from income and | |||||
| expenditure account |
35,418 | 35,418 | |||
| Balance at 31stDecember 2020 | 2,807,543 | 4,280,908 | 499,968 | 954,506 | 8,542,925 |
| Surplus Rom statement of | |||||
| comprehensive income |
148,883 | 148,883 | |||
| Increase in property valuation |
0 | 0 | |||
| Increase in market value of | |||||
| investments transfer |
(236,370) | 235,864 | 506 | ||
| Interest arising in the year transfer | 0 | 0 | 0 | ||
| Transfer from prior periods | 0 | 0 | 0 | ||
| Transfer from income and | |||||
| expenditure account |
|||||
| Balance at 31stDecember 2021 | 2,720,056 | 4,516,772 | 500,474 | 954,506 | 8,691,808 |
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Notes | |||||
| Cash flows from operating | activities | ||||
| Cash generated from operations |
119467 | ||||
| Net cash from operating activities |
119,367 | ||||
| Cash flows from investing | activities | ||||
| Purchase oftangible fixed assets | (93380) | (68,860) | |||
| Purchase offixed asset investments | 0 | (316173) | |||
| Interest received | 7,106 | 5,577 | |||
| Dividends received |
19,832 | 23,010 | |||
| Net cash from investing activities |
~66.442 | ~21.446 | |||
| Increase in cash and cash | equivalents | (60,088) | 47,921 | ||
| Cash and cash equivalents | at beginning | ofyear | 2 | 647,915 | 599,994 |
| Cash and cash equivalents | at end ofyear | 587,827 | 647,915 |
| 2021 | 2020 | |
|---|---|---|
| Surplus before taxation | 14$,883 | 1,016,477 |
| Depreciation charges |
149,972 | 101,984 |
| Gain on revaluation offixed assets Finance income |
(236470) ~26.939 |
(962,$71) ~276587 |
| 35,546 | 127,003 | |
| Decrease/(increase) in trade and other debtors (Decrease)/increase in trade and other creditors |
193 ~29305 |
530 ~0,26 |
| Cash generated from operations |
6 354 | 219,367 |
| Year ended 31stDecember 2021 | |||
|---|---|---|---|
| 31.12.21 | 1.1.21 | ||
| Cash and cash equivalents | 587,827 | 647,915 | |
| Year ended 31stDecember 2020 | |||
| 31.12.20 | 1.1.20 | ||
| Cash and cash equivalents | 647,915 | 599,994 | |
| ANALYSIS OF CHANGES IN NET FUNDS | |||
| At 1.1.21 | Cash flow | At31.12.21 | |
| Net cash Cash at bank |
447810 | ~60,000 | 507027 |
| Total | 647,910 | ~60.0003 | 587,827 |
| Number | ofunits | managed by |
|||||||
|---|---|---|---|---|---|---|---|---|---|
| Registered Social Landlord at |
|||||||||
| 31December | 1January | ||||||||
| 2021 | 2021 | ||||||||
| Social Housing units —almshouses | 60 | 60 | |||||||
| Other rental | properties - non-social | housing | 16 | 16 | |||||
| Other rental | properties —commercial | 0 | 0 | ||||||
| 76 | 76 | ||||||||
| Maintenance | Other Rental | 2021 | 2020 | ||||||
| Charges | Income | Total | Total | ||||||
| K | f. | ||||||||
| Gross rents | 264,477 | 113,997 | 378,474 | 375,413 | |||||
| Rent losses | from voids | (12,759) | 0 | (12,759) | (5,083) | ||||
| Rent losses Management |
from bad debts charges |
0 ~36,299 |
0 ~30,304 |
0 0 ~46,603 ~46,204 |
|||||
| Total income from lettings | 215,419 | 103,693 | 319,112 | 324,126 | |||||
| EMPLOYEES | |||||||||
| 2021 | 2020 | ||||||||
| Wages and | salaries | 77,021 | 61,272 | ||||||
| The average number of | |||||||||
| employees | during the year was | ||||||||
| as follows: | |||||||||
| 2021 | 2020 | ||||||||
| Administration | |||||||||
| Wardens |
| The operating surplus |
is stated | after charging: | |||||
|---|---|---|---|---|---|---|---|
| 2021 | 2020 | ||||||
| f | |||||||
| Depreciation - owned | assets | 149,972 | 101,984 | ||||
| TANGIBLE FIXED | |||||||
| 6. | ASSETS | ||||||
| Social Housing | Freehold | Plant | and | ||||
| Properties | Property | machinery | Totals | ||||
| f | f | f. | |||||
| COST OR VALUATION | |||||||
| At 1stJanuary 2021 | 3,452,480 | 2,543,675 | 10,506 | 6,006,661 | |||
| Additions | 93,380 | 0 | 0 | 93,380 | |||
| Revaluation Disposals |
17,205 | 0 ~27.205 |
|||||
| At 31stDecember 2021 | 3,528,655 | 2,543,675 | 10,506 | 6,082,836 | |||
| DEPRECIATION | |||||||
| At 1st January 2021 | 4,743 | 33,168 | 9,995 | 47,906 | |||
| Charge for year | 72,247 | 61,510 | 511 | 1347268 | |||
| Revaluation Eliminated on disposal |
0 ~2.002 |
||||||
| At 31stDecember 2021 | 75,488 | 94,678 | 10,506 | 180,672 | |||
| NET BOOK VALUE | |||||||
| At 31stDecember 2021 | 3,453,167 | 2,448,997 | 0 | 5,902,164 | |||
| At 31stDecember 2020 | 3,447,737 | 2,510,507 | 5,958,755 |
| Housing | Freehold | |||
|---|---|---|---|---|
| Properties | Property | Total | Total | |
| 2021 | 2021 | 2021 | 2020 | |
| f | g | |||
| Amount ofrevaluation | (720,214) | 2,149,681 | 1,429,467 | 1,429,467 |
| Historic cost | 4,172,694 | 393,994 | 4,566,688 | 4,566,688 |
| 3,452,480 | 2,543,675 | 5,996,155 | 5,996,155 | |
| FIXEDASSETINVESTMENTS | ||||
| Other | ||||
| investments | ||||
| COST OR VALUATION | ||||
| At 1stJanuary 2021 | 1,947,110 | |||
| Additions | 0 | |||
| Revaluations | 236,369 | |||
| At 31stDecember 2021 | 2,183,479 | |||
| NET BOOK VALUE | ||||
| At 31stDecember 2021 | 2,183,479 | |||
| At 31stDecember 2020 | 1,947,110 | |||
| Historical cost information | ||||
| The historical cost ofinvestments | held at valuation | is as follows: | ||
| 2021 | 2020 | |||
| g | ||||
| Historical cost | 773,023 | 773,023 |
| CREDITORS: AMOUNTS FALLING DUE WITHIN | ONE YEAR | |
|---|---|---|
| 2021 | 2020 | |
| f | ||
| Other creditors | 12,828 | 200 |
| Accruals and deferred income | 7,821 | 49,832 |
| 29 649 | 50,032 |
| RESERVES | |||||
|---|---|---|---|---|---|
| Income and | |||||
| expenditure | Revaluation | Other | Designated | ||
| accoullt | reserve | reserves | reserve | Totals | |
| At 1stJanuary 2021 | 2,807,543 | 4,280,908 | 499,968 | 954,506 | 8,542,925 |
| Surplus for the year | 148,883 | 0 | 0 | 0 | 148,$83 |
| Market value ofinvestment | (236,370) | 235,864 | 506 | 0 | 0 |
| Valuation ofproperties | 0 | 0 | 0 | 0 | 0 |
| Interest received transfer | 0 | 0 | 0 | 0 | 0 |
| Transfers from prior periods | 0 | 0 | 0 | 0 | 0 |
| Reserves transfer | 0 | 0 | 0 | 0 | 0 |
| At 31stDecember 2021 | 2,720,056 | 4,516,772 | 500,474 | 954,506 | 8,691,808 |
| Revaluation Reserve |
|||||
| Property | Investment | ||||
| Reserve | Reserve | Total | |||
| At 1stJanuary 2021 | 2,808,911 | 1,471,997 | 4480,90$ | ||
| Increase in market value | 0 | 235,864 | 235,864 | ||
| At 31stDecember 2021 | 2,808,911 | 1,707,$61 | 4,516,772 | ||
| Other reserves | |||||
| Minnie | |||||
| Caroline | Salina | ||||
| Capital | Richards | Downing | |||
| Account | Trust | Trust | Total | ||
| f | |||||
| At 1st January 2021 | 497,258 | 2,590 | 120 | 499,968 | |
| Increase in market value | 0 | 341 | 165 | 505 | |
| At 31stDecember 2021 | 497,258 | 2,931 | 285 | 500,473 |
| Contracted but not provided for in the |
|---|
| financial statements |
| 2021 | 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Turnover | |||||||||
| Rents receivable | 103,693 | 103,618 | |||||||
| Residents weekly contributions | 215,419 | 220,508 | |||||||
| 319,112 | 324,126 | ||||||||
| Other income | |||||||||
| Sundry receipts | 366 | 197 | |||||||
| Listed investment | income | 19,832 | 23,010 | ||||||
| Deposit account | interest | 7,107 | 5,577 | ||||||
| 27,305 | 2$,784 | ||||||||
| 346,417 | 352,910 | ||||||||
| Expenditure | |||||||||
| Inswancc | 9,719 | 8,786 | |||||||
| Utilities | 9,327 | 9,150 | |||||||
| StaffCosts | 77,203 | 61,272 | |||||||
| Telephone | Id)77 | 1,490 | |||||||
| Repair and maintenance | 175,525 | 97,505 | |||||||
| Administration | expenses | 3,658 | 2,249 | ||||||
| Legal and professional | fees | 3,827 | 11,103 | ||||||
| Accountancy 4t |
Auditors' | remuneration | 2,640 | 5,640 | |||||
| Depreciation of | tangible | fixed assets: | |||||||
| Housing property |
87,950 | 63,459 | |||||||
| Other freehold property | 61,510 | 38~5 | |||||||
| Plant and machinery | 511 | 90 | |||||||
| 433,747 | 299Ii r | ||||||||
| (87430) | 53,731 | ||||||||
| Finance costs | |||||||||
| Bank charges | 157 | 125 | |||||||
| (87,487) | 53,606 | ||||||||
| Gain/(loss) on revaluation |
ofassets | ||||||||
| (Loss) / gain on | revaluation | ofinvestments | 236,370 | (89,200) | |||||
| Gain on revaluation | ofinvestment | property | 0 | 1,0529071 | |||||
| 236470 | 962,871 | ||||||||
| NET SURPI US | 148,883 | 1,016v(77 |