## |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|