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|||Pages|
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|Annual
Report ofthe|Trustee|1 —19|
|Independent
Auditors'|Report|20 —22|
|Statement of Financial|Activities|23|
|Balance Sheet||24|
|Statement
of Cash Flows||25 —26|
|Notes to Financial
Statements||27 —45|
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|Main
ro ramme
rec|Main
ro ramme
rec|i
ients from branches I and 2 were as follows:||
|---|---|---|---|
|Reel ients||Pro ect|Grant|
|Bless Community
Church||Funding
an Early Years Development
Workers
within a baby and
toddler project which provides
training
opportunities
to parents.|E27,105|
|||The 'Playtime'
project serves young
families across the Ealing||
|||area on a weekl
basis.||
|Ealing Club CIC||The Ealing Club Eclectic 2020 project support 350aged between
16-22 years who will have the opportunity
to work alongside|E5,000|
|||sound en ineers to develo
a career in sound en
ineerin .||
|Voice of Somali
Community||The Families First project benefitted
120people from the Somali
community,
mainly refugees and includes
children.|E9,800|
|||A major difficult ofthe Somali community
is their lack of||
|||familiarity
with the institutions,
organlsations,
and norms of UK||
|||society. This project alms to alleviate these difficulties
through||
|||advocac
work.||
|Ealing Law Centre||The Ealing Law Centre project is a provision offree legal advice|E4,000|
|||and advocacy at Courts and Tribunals.
The request for funding||
|||was for additional
hours for a 'Crisis Navigator'
to provide
weekly||
|||one to one support for a period of 10weeks, and help people||
|||navi ate the a
eals and tribunal
s stem.||
|Ealing Mediation
Service||The project promoted
the provision ofservices directed towards
mediation,
conciliation,
or reconciliation
as between
persons,|E5,000|
|||organisations,
authorities
or groups
involved or likely to become||
|||involved
in dispute or interpersonal
conflict. They promote||
|||mediation
awareness
to parents
and guardians
of students
and||
|||school staff via 26 site visits and publicity
materials to all state||
|||schools calle es in WS W7 &W13.||
|Maggie's|Centre|The Maggies Centre Trust is established
to relieve the suffering|E10,000|
|||and distress and to further the health of persons
with cancer||
|||their families and carers. In the 6weeks the Pathways
grant||
|||funded
the Centre head salary,
this supported
around
2,270||
|||eo le with cancer either in the Centre or online||
|Into the|Light|Childhood
Abuse Support Project- supported
16women to|64,000|
|||improve
their emotional
wellbeing
and tackle isolation
by
connecting
them to other survivors.
The project was a two 10-
week psychoeducational
course for adult survivors ofchildhood||
|||sexual abuse
in Ealing. It focused on the impact of sexual abuse||
|||in adults.||
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|Reci ients|Reci ients||Pro'ect||Grant|
|---|---|---|---|---|---|
|Centre|for||CAIA seeks to enhance the quality of life for disadvantaged||E9,996|
|Armenian|||members
ofthe Armenian
community
in London,
specifically|||
|Information||8|those living
in isolation, poverty,
or distress. The project support|||
|Advice|||450 people from the Armenian
community
to improve
and help|||
||||them access services. 40% ofthe users are based
in Baling and|||
||||Hounslow
and the grant money
will help fund a full-time
advice|||
||||worker.|||
|Gurnell|Grove||The Community
Socials project took the form of two schemes||E7,987|
|Community||Trust|which
will run concurrently
-a weekly Community
Lunch club|||
||||and a monthly
Community
Pop-Up. The grant will train|||
||||Community
Workers as a registered
Mental
Health
First Aider so|||
||||they can better support
residents
with enhanced
skills in this|||
||||area.|||
|The Living||Room|The grant was used to cover costs ofyouth workers
to carry|out|E7,500|
|Acton|Ba|tist|ro'ects amon
teena
ers in Acton who need adult su
ort.|||
|Welshore|||The grant was used for two purposes
-Sewing Group Project||E5,000|
|Community|||was to promote
and enhance
sewing
skills.
Knit and Natter|||
||||Group -To improve the well-being
of residents
in West London,|||
||||by providing
activities and services which
will educate,
inform,|||
||||and bring people who are isolated, vulnerable,
and excluded|||
||||together,
to engage
in social activities which foster|||
||||inclusiveness
artici
ation
and co-o eration.|||
|Crossway|||The Girls Project -is work Crossway
Pregnancy
Crisis Centre|do|E1,500|
|Pregnancy||Crisis|in schools in Brentford and Baling. The school's coordinator|runs||
|Centre|||the Girls Project at Brenfford
Football Club. The activities are|||
||||based around self-esteem,
body image, peer pressure,|||
||||relationships,
and consent. It was a 7-week programme
with|||
||||maximumof8
irlsata time|||
|The Mulberry|||The Mulberry
Centre is a cancer support
charity. The project||E10,000|
|Centre|||aims to improve the emotional,
psychological,
and physical|||
||||wellbeing
of Ealing and Brentford
residents
who are affected|by||
||||cancer. These residents
will include
people affected directly|with||
||||a dia
nosis.|||
||||||Cont/. ..|
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|Covid 19-|Emergency|Grant|||
|---|---|---|---|---|
|Pathways
has also launched
a Covid-19 Emergency
Grant to help
support
local charities
working
vulnerable
communities
impacted
by Covid-19 since the start ofthe Pandemic.
Sofar since April 2020 to March 2021 we have paid the grants to the following
organisatlons:||||with|
|Reci ients
Afghanistan
Ik
Central Asian
Association||Pro'ect
The project support
hardest
hit communities
in Ealing during
COViD-19 for a period of 12weeks. They communicate
with
service users in their own languages
offering
support
through|Grant
E1,200||
|||interpreting
and translating,
counselling,
reassurance,
social|||
|||contact, assisbince and advocacy with Bnanclal issues, benefits|||
|||issues, citizenship
applications,
guidance
and support
to victims
ofdomestic violence, mental
health support
and signposting
to
relevant
health services.|||
|Armenain
Trust|Church|The project will cover costs related to travel ofthe volunteers.
Help Buying essentials
and food and PPE for the volunteers
to|E1,500||
|||not only keep themselves
safe but also the vulnerable
and|||
|||eo le that need to self-isolate due to medical issues.|||
|The Felix|Project|The Felix Project rescues food that cannot be sold and would
otherwise
go to waste. This food is inMate, safe and nutritious,|E1I500||
|||and includes a high proportion
of fresh fruit and vegetables as
well as baked goods, salads, meat and fish. Their staff checked,
sorted and then delivered
food to their frontline
charities,|||
|||rima
schools and hollda
ro rammes
in London.|||
|Dementia|Concern|The project involves 3 Deliveries to 125 Live-alone
Clients with
dementia:
The costs ofdeliveiies to Dementia
Concern's
clients|K1,500||
|||livin
alone with dementia.|||
|Neighbourly|Care|Neighbourly
Care provide services to reduce social isolation
and
loneliness
for vulnerable
adults,
older people, and their carers.|E1,500||
|||Neighbourly
Care will continue to provide a telephone|||
|||befriending
service, shopping
support service for Ealing
vulnerable
residents
durin
Lockdown.|||
|Home Start Ealing||Home Start Ealing help to tackle Increased
challenges
facing
families
in particular
in relation to their mental
and economic|E1,500||
|||health and to tackle the serious issue of social Isolation as many
families
with children
under 5 have felt unable to leave their|||
|||homes throughout
the pandemic
and feel very anxious about
takin
ste sto move on.|||
|MHA Ealing Live
Home Scheme||The project help to support
shielding/self-isolation
through
weekly,
bi-weekly,
daily telephone
befriending
for older people
who are currentl
self-isolatln
due to Covid19.|I1,500||
||||Con||
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|Age UK||Typically, Age UK's beneficiaries are those age over 65 with|E1,500|
|---|---|---|---|
|||diverse needs, people who live alone or don't have regular||
|||visitors or contacts. Since the pandemic,
they receive up to 12||
|||referrals per week.
The grant is used to provide regular support||
|||to beneficiaries
b
tele hone.||
|Reverse the Trend||The funding
is for delivering
online mental
health support to our|E1I500|
|Foundation||current users
in Baling which
is approximately
200 young||
|||people. They will work with children
raising awareness of how||
|||their brains work, how to manage
anxiety, stress and regulate||
|||im ulsecontrolwhichwillbe
revalentdurin
this
andemic.||
|The Log Cabin||Project
f'or ongoing
core costs and to ensure we can keep their|E1,500|
|||doors open to serve the 300 families that depend on their||
|||services. Many ofthese children
have extreme disabilities
and||
|||additional
needs. A large portion ofthe children
live in flats and||
|||do not have access to suitable outdoor garden space. They need
asafes aceto
la
aswellasre
uire1:1su
ervision.||
|Shooting star||The grant for one night ofemergency
respite care to a family|E1,500|
|Children's|Hospices|who need it most. Occasionally,
a family
may require short||
|||notice support due to an unexpected
situation
that arises. This||
|||may include the child's main carer being taken
ill, deterioration||
|||ofthe child's condition or a major facilities failure at home for a||
|||rolon
ed
eriod.||
|Maggie's Centre||The Maggies Centre provides cancer support to people over the
phone,
email and drop
in 1:1session to anyone affected by|E1,500|
|||cancer in the West London area. The grant
is for 30cancer||
|||support sessions to help people with cancer and their family and||
|||friends understand
their diagnosis,
treatment,
and life with||
|||cancer.||
|||Total|E120 188|
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|alue for Money Key Metrics||||
|---|---|---|---|
||Hfop|||
||peer
group
2020-21|Housing
Pathways
avera e|Housing
Pathways
Trust|
|1. Reinvestment
a/o||||
|Considers the investment
in properties
(existing stock as||||
|well as new supply) as a percentage ofthe value of total
ro erties held.|2.80%|1.47%|0.63a/o|
|2.
New Supply Delivered
a/o||||
|The number of new social housing
and non-social
housing||||
|homes that have been acquired or developed
in the year as||||
|a proportion
of total social housing
and non-social
housing||||
|homes owned at period end.||||
|A. New supply delivered
(Social housing
homes)||||
|B.New su
I
delivered
Non-socialhousin
homes||||
|3. Gearing
'/o||||
|Assesses
how much ol the adjusted assets are made up of
debt and the d
ree of de endence on debt finance.|1%|1.06%|1170o/a|
|4. Earnings Before Interest, Tax, Depreciation,||||
|Amortisation,
Major Repairs Included
(EBITDA MRI)||||
|Interest Cover o/o.||||
|A key indicator for liquidity
and investment
capacity.||||
|Measures
the level of surplus
generated
compared
to
interest
a able|478%|1265%|996o/a|
|5. Social Housing Cost Per Unit||||
|The headline
social housing
cost per unit as defined
by the
Re ulator|IS415|I6 000|65972|
|6. Operating
Margina/o||||
|Demonstrates
the profitability
of operating
assets before||||
|exceptional expenses are taken into account. Increasing||||
|margins
are one way to improve the financial
efficiency ofa||||
|business.||||
|A. Operating
Margin
(social housing
lettings
only)
B.Operating
Margin
(overall) after adjusting
for impairment
and merger costs|10.2%
134%|3.10o/o
8 Pfio/o|3 12o/o
6.49o/o|
|7
ROCE o/o||||
|Compares the operating
surplus
to total||||
|assets less current
liabilities.
An assessment
of the efficient
investment
ofca ital resources.|2.46%|1.28%|0.54a/o|
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|e
Per|formance
Indic|ators||||||
|---|---|---|---|---|---|---|---|
||||||Housing|Housing|Housing|
|||||Hfop|Pathways|Pathways|Pathways|
|||||2020-21|2020-21|2019-20|2018-19|
|Current|resident
annual|WMC collection rate||100%||103.2%|103.6%|
|Current|resident arrears|as a %ofthe annual|WMC|0.9%|2.31%|2.73%|3.0%|
|Homes|with a valid Gas|Safety Certificate %|||100%|100%|100%|
|All reactive repairs completed
within target time %||||95.7%|81%|85%|86%|
|Emergency
repairs completed
within target time %||||1PP%|78%|79%|83%|
|Urgent|repairs completed|within target time|%|97.9%|78%|82%|84%|
|Routine|repairs completed
within target time||%|95%|87%|93%|89%|
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||||Unrestricted|Restdcted|Emlowment|Total|Unmstrlcted|Restricted|Endowment|Total|
|---|---|---|---|---|---|---|---|---|---|---|
|||Notes|funds|funds|funds|funds|funds|funds|hrrlds|funds|
|Income from|||E|6|6|E|E|6|E|E|
|OonaUons
and Grants
Chantable
Acdvities
4 as/fords~hon
Ahmnenex
Other Trading
Activities
Investments|||10,000
977,867
22,644
77,212
348839|5 329|648|10,000
977,867
22,644
77,212
354816|942,151
22,603
71,663
388646|7702||942,151
22,603
71,663
396653|
|Expenditure
on|||1,436,562|5,329|648|1,442,539|1,425,063|7,702|305|1,433,070|
|Raising Funds
Charkable
Activities|||171,2$7|1,753|6,186|179,196|89,290|1,783|6,388|97,461|
|Aknshoure
Acxummodaevr
Akbbnenls
Grant making|||796,146
20,767
I44 921|35,964|134,634
1,690|966,744
22,457|SSS,661
20,089|35,964|1$5,304
1,690
478|999,929
21,779
111324|
||||1,133,091|37,717|142,988|1,313,796|1,028,886|37,747|163,860|1,230,493|
|Gains/(losses)
on Investments||15|'l42,739|58,165|117,069|617,9/3|(791,620)|(32,424)|(80,014)|(404,058)|
|Net Inmme/(expenditure)|||746 210|25 777|||||||
|Aduadal
(losses)/gains
Transfers
between
funds||22
19|(195,000)
(125,522)||125,522|(195,000)|167,502
(99,837)||99,837|167,502|
|Net movement
In funds|||425 688|25 777|100251|551716|172222|62 469|143732|33979|
|Funds bnmght
forward|1st Apnl 2020||||||||||
|Ollginagy
shrted
Frmr year adjustment
As restated||28|3,748,407
32876
3,781,283|2IM,877
I 600437
1,885,314|8,528,456
8,528,456|12,561,740
I 633313
14,19$,053|3,575,696
33365
3,609,061|311,382
I 636401
1,947,783|8,672,188
-
8,672,188|12,5$9,266
I 669766
14,229,032|
|Funds carried forward 31st March 2021|||4 206971|I 911091|8628 707|14 746 769|3 781283|I 885314|8 528 456|14 195053|
##
|||||CH 2021||||
|---|---|---|---|---|---|---|---|
|||Notes||2021||2020|Restated|
||||||E||E|
|Fixed Assets||||||||
|Housing
Properties||10||6,803,292|||6,960,963|
|Investment
Properties||11||4,048,000|||4,0'18,000|
|Other Fixed Assets||12||1,401,885|||1,421,586|
|Social Investments||14||||||
|Investments||15||3 667 656|||~3004s130|
|||||15,920,833|||15,434,679|
|Current Assets||||||||
|Trade and Other Debtors||16|221,905||181,757|||
|Cash and Cash Equivalents|||636 441||531|7D3||
||||858,346||713,460|||
|Creditors:
Amounts
within one year|falling due|17|~372 415||384|580||
|Net Current Assets||||485,931|||328,880|
|Creditors:
Amounts|falling due|||||||
|after more than one year
Provisions
for liabilities||18
22||(114071995)
~252 ODO|||(1,476,506)
~920ll0|
|Net Assets||||E14,746,769|||E14,195,053|
|Funds||||||||
|Permanent
Endowment||19||8,628,707|||8,528,456|
|Restricted
Funds||19||1,911,091|||1,885,314|
|Unrestricted
Funds||19||4 206 971|||3 781 283|
|Total Funds||||E14,746,769|||E14,195,053|
##
||||||Notes|2021|2020 Restated|
|---|---|---|---|---|---|---|---|
|||||||f|f|
|Net Cash generated
from Operating||Activities||||170,908|297,266|
|Cash Flows from Investing
Activities||||||||
|Capitalised
works to existing
housing|properties|||||(42,790)|(507729)|
|Purchase ofother fixed assets|||||||(1,269)|
|Rents and service charges from investment|||properties|||136,866|308,376|
|Maintenance
of investment
properties||||||(99,280)|(116,752)|
|Proceeds from sale of investments||||||328,039|453,826|
|Additions to investments||||||(494,651)|(361,390)|
|Investment
management
fees||||||(21,437)|(20,834)|
|Investment
income and bank interest|received|||||94 681|121084|
|Net Cash generated
from/(used
in)||Investing||Activities||98572|332 312|
|Cash Flows from Financing Activities||||||||
|Interest
paid
Repayment
of Loans||||||(33,436)
~58 318|(50,279)
~52 660|
|Net Cash (used in)/generated
from||Financing||Activities||91754|102939|
|Net Change in Cash and Cash Equivalents||||||(19,418)|526,639|
|Cash and Cash Equivalents
atthe|beginning|||ofthe year||757 349|23D 710|
|Cash and Cash Equivalents
at the|end||ofthe|year||E737931|E757349|
|A
Cash Flows from Operating|Activities|||||||
|Net Income/(Expenditure)
for|the||year|||746,716|(201,481)|
|Depreciation||||||221,345|227,156|
|Income from Investments||||||(354,816)|(396,653)|
|Interest Payable||||||33,436|50,279|
|Investment
management
fees||||||21,437|20,834|
|Expenditure
on Investment
Properties||||||157,759|76,627|
|Decrease/(Increase)
in Debtors||||||4,409|42,089|
|Increase/(Decrease)
in Creditors||||||(5,222)|69,836|
|(Decrease)/Increase
in pension||liability||||(35,000)|(7,498)|
|Disposal offixed assets
(Gains)/Losses
on Investments||||||(1,183)
~627 973|12,019
404 058|
|||||||E170908|E297 266|
|g
Cash and Cash Equivalents||||||||
|Bank Balances||||||636,441|531,703|
|Investment
Managers
Cash||||||EDE 490|225 646|
|||||||5737931|E757 349|
##
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##
|Reco|nciliation
of Net Debt||||
|---|---|---|---|---|
|||At01.04.20|Cash Flows|At31.03.21|
|||6|6|6|
|Cash|and Cash equivalents|757,349|(19,418)|737,931|
|Loans|falling due within one year|(52,277)|(1,723)|(54,000)|
|Loans|falling due after more than one year|(1,397,130)|60,041|(1,337,089)|
|Total||~E 692 050|830900|~f 653 158|
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|d to each c|om|ponen|t
are set out belo|w:|
|---|---|---|---|---|
|Land||||not depreciated|
|Main fabric||||Over 70 years|
|Roof structure||and|covering|Over 70 years|
|Windows
&|external||doors|Over 30years|
|Gas boilers||||Over 15years|
|Kitchen||||Over 20 years|
|Bathrooms/WCs||||Over 30years|
|Mechanical|systems|||Over 30years|
|Electrics||||Over 40 years|
|Fire alarms/warden|||call|Over 15years|
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|Income f|r|om Charitable
Activities|||
|---|---|---|---|---|
||||2021|2020|
|||||Restated|
|||||E|
|Almshouse||Accommodation|||
|Maintenance||contributions|844,819|810,850|
|Services contributions|||133048|131301|
||||977,867|942,151|
|Allotments|||||
|Allotment|rents||22 644|22 603|
||||E1000 511|E964 754|
|Income from Other Trading Activities|||||
|Private Lets|||177212|E71 663|
##
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||Investment|Property||||
|---|---|---|---|---|---|
||Rent receivable|||218,194|235,064|
||Ground
rent|receivable||3,950|3,950|
||Service charges receivable|||34894|36555|
|||||257,038|275,569|
||Investment|Income & 8ank Interest||97778|121 084|
|||||E354816|1396 653|
|5.|Raising Funds|||||
|||||2021|2020|
||||||Restated|
||||||E|
||Investment|management|fees|21,437|20,834|
||Investment|properly costs||||
||Management|88 support costs||53,199|80,294|
||Maintenance
Bad debts|||46,081
58,479|36,458
(407125)|
|||||E179 196|E97 461|
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||||||2021|2020|
|---|---|---|---|---|---|---|
|||||||Restated|
|||||||E|
|Almshouse
Accommodation|||||||
|Management
86support
Services
Maintenance
Depreciation
Disposals
Bad debts|||costs||357,503
127,174
260,887
202,518
(1,183)|402,592
140,429
210,222
208,330
12,019|
|Interest
payable|||||19845|26 332|
|Allotments|||||966,744|999,929|
|Management
Depreciation
Maintenance|||||9,415
1,194|7,632
I,194|
|Support costs|||||11 848|12 953|
|Grant-making|||||22,457|21,779|
|Grants awarded
Grants officer costs
Reversal of impairment
SuPPort costs|||of concessionary|loan|120,188
14,222
(436)
11425|94,251
4,582
12491|
||||||I'l5,399|111,324|
||||||11 13
61111|61 133612|
|Support Costs|||||||
||||||2021|2020|
|||||||Restated|
|||||||E|
|Staff costs|||||278,659|259,753|
|Administration|||||88,739|120,219|
|Depreciation||of office property|||17,634|17,634|
|Proi'essional||fees|||(5,943)|(1,157)|
|Bank charges||and|sundries||602|147|
|Loan interest|||||13,591|17,942|
|Pension costs and|||interest||4,959|6,000|
|Irrecoverable||VAT|||22,462|16,876|
|Governance|costs||||9,000|12,240|
||||||E429,703|E449,654|
##
##
##
##
|ofstaff cos|ts charged to the Charity is as follow|s:||
|---|---|---|---|
|||2021|2020|
|||E|E|
|Wages and|salaries|205,486|203,655|
|Social security costs||17,707|1'9,722|
|Pension costs||9,008|8,751|
|Redundancy||30,862||
|Dff-payroll|contractors|26,506|27,625|
|||E289,569|E259,753|
##
##
|Maintenance
contributions|||||844,819|810,850|
|---|---|---|---|---|---|---|
|Service charges receivable|||||133048|131301|
|Tunnover
from Social Housing||Letting|||977 867|942 151|
|Management|||||357,503|403,466|
|Services|||||127,174|140,429|
|Routine and Cyclical Maintenance|||||260,887|210,222|
|Property
Depreciation
Operating
costs ofSocial|Housing||Lettings||2D1644
~947 2DD|206853
~960970|
|Gain/(Loss)
on replacement|of components||||1,183|(12,019)|
|DP
tt 9
PI" 740 Itdt2||8|I 19|I 8 1 Itt 9|E31 842|~630 838|
|Void Losses|||||115926|112 149|
##
##
|10.|Fixed Assets Housing Properties|Fixed Assets Housing Properties|||
|---|---|---|---|---|
||||2021|2020|
|||||Restated|
||||Total|Total|
||||E|E|
||Cost||||
||As at 1st April 2020||8,790,835|8,752,125|
||Works to existing
Disposals|properties|42,790
~7280|50,729
~22 019|
||As at 31st March|2021|0038448|8790 035|
||Depreciation||||
||As at 1st April 2020||1,8291872|1,623,019|
||Adjustment||||
||Charge for the year
Disposals||201,644
~8353|206,853|
||As at 31st March|2021|2 023 153|1829072|
||Net BookValue|at31stMarch 2021|E6,803,292|E6,960,963|
##
|nvestment
Properties|||
|---|---|---|
||Baling Green|Total|
||E|E|
|Fair Value|||
|As at 1st April 2020|4,048,000|4,048,000|
|Additions|||
|Movement
in fair value|||
|As at 31st March 2021|~048000|4048000|
|Net Book Value|||
|At 31st March 2021|E4048 000|14 040 000|
|At 31st March 2020|E4 048000|E4048 000|
##
##
##
|Other Fixed Ass|ets|||||||
|---|---|---|---|---|---|---|---|
||||Fixtures,|||||
||||Fittings!k|||||
|||Allotments|Equipment||Office|Total||
|||E|E||E|E||
|Cost||||||||
|As at 1st April 2020||798,881|8,732||679,846|1,487,459||
|Additions||||||||
|Disposals||||||||
|As at 31st March|2021|798 881|8|733|679846|1487|459|
|Depreciation||||||||
|As at 1st April 2020||8,786|44|182|52,905|65,873||
|On disposais||||||||
|Charge for the year||1 194||873|17634|19|701|
|As at 31st March|2021|9980|5|D55|70 539|85|574|
|Net Book Value||||||||
|At 31st March 2021||E7889D1|E3 677||E6D9307|E1401|885|
|At 31st March 2020||E790,095|E4,550||E626,941|E1,421,586||
|apital Grants||||||||
||||||2021||2020|
|||||||Restated||
||||||||E|
|Aggregate
amount received||||||||
|At 1st April 2020|and 31st March|2021|||E2,519,492|E2,519,492||
|Released toStatement ofFinancial Activities||||||||
|At 1st April 2020|and 31st March|2021|||E2,519,492|E2,519,492||
|Social Housing|Grant Carrying|Value||||||
##
##
##
##
##
|ixed Ass|et|I|nvestme|nts|||||
|---|---|---|---|---|---|---|---|---|
|||||||2021||2020|
||||||Unrestricted|Grassroots|Total|Total|
||||||E|E|E|E|
|Fair Value|||||||||
|At 1st April||2020|||2,574,559|203,925|2,778,484|3,278i,978|
|Additions|||||474,054|23,694|497,748|361,390|
|Disposals|||||(306,339)|(21,700)|(328,039)|(453,826)|
|Realised
Unrealised|gains/(losses)
gains/(losses)||||4,328
559479|3,8'i6
54 320|8,174
609799|28,254
~432312|
|At 31st March|||2021||3,302,081|264,085|3,566,166|2,778,484|
|Cash Deposits|||||78 779|22 711|101490|225 646|
||||||E338~860|E286 796|E3667656|E3 1104 130|
|Fixed Interest|||||337,384|20,824|358,208|372,093|
|Equities and Unit Trust|||||2,605,205|226,911|2,832,116|2,225,956|
|Property|||||159,492|16,350|175,842|180,435|
|Cash|||||278 779|22711|301490|225 646|
||||||E3 380 860|E286796|E3 667656|E3 004 130|
|ebtors|||||||||
|||||||2021||2020|
|||||||||Restated|
|||||||||E|
|Residents'|Contributions|||||24,358||31,055|
|Provision|for Doubtful|||Debts||(5,090)||(5,090)|
|||||||19,268||25,965|
|Tenants
Contributions||||and Deposits||165,289||120,732|
|Prepayments||and accrued income||||37,348||31,526|
|Connected||parties:|||||||
|- Pathways|||Jubilee Charity|||||3,534|
|||||||E221,905|E181,757||
##
##
##
##
##
|Creditors: Amounts
falling|due within one year|||
|---|---|---|---|
|||2021|2020|
||||Restated|
|||E|E|
|Trade Creditors
VAT
Connected
parties:||34,976
29,500|33,943
20,523|
|Housing
Pathways
Almshouse
85 Eleemosynary
Loans
Grants payable
Deferred
income
Accrued expenses|Charity|7,135
34,061
54,000
42,105
68,038
102 600|40,808
21,103
52,277
28,206
78,154
109566|
|||E372 415|5384 58D|
##
##
|redito|rs: Amounts
faging due outsid|e one year||
|---|---|---|---|
|Grants
Tenant
Loans|payable
deposits
(Note 15)|8,550
62,356
17337,089|10,000
69,376
1,397,130|
|||E1407995|E1,47,6 5D,6|
##
##
##
|19.
Funds - Restated||||DE|D
IST
C|||||
|---|---|---|---|---|---|---|---|---|---|
|||Balance at||||Gains/(losses)|Other gains||Balance at|
|||1April 2020|Income||Expenditure|on Investments|/(losses)|Transfers|31March 2021|
|||6|6||E|6|E|E|E|
|Unrestricted
Funds||||||||||
|General Funds||2,419,789|1,399,270||(1.125.335)|216,918|(195,000)|(125,522)|2,59D,120|
|aesUasmd anus||||||||||
|Grants Reserve||269,073|||||||269,073|
|Cydlcal Repairs and Maintenance
Extraordinary
Repairs Reserve|Resewe|145,580
946841|4,960
32 332||(1.032)
6724|29,746
196075|||179,254
I 168524|
|||3,781,283|1,436,562||(1,133,091)|442,739|(195,000)|(125,522)|4,206,971|
|Restricted
Funds||||||||||
|Feed Asset Fund
Grassroots
Fund||1,600,437|||(35,964)
I 753|58 165|||1,564,473
346618|
|||1,885,314|5,329||(37,717)|58,165|||1,911,091|
|Endowment
Funds||||||||||
|Permanent
Endowment||8,528,456||648|(142,988)|IITA69||125,522|8,628,707|
|||11419 053|E1442|539|E 1313796|E617973|E 195IBM|E -|614746769|
|||Balance at||||Gains/(losses)|Other gains||Balance at|
|||1AprU 2019
6|Income
6||Expenditure
E|on Investments
E|/(losses)
6|Transfers
E|36March 2020
I|
|Unrestricted
Funds||||||||||
|General Funds||2,135,480|1,379,343||(1,020,975)|(141,724)|187,502|(99,837)|2,419,789|
|/)csfprmmd
Fmids||||||||||
|Grants Reserve||269,073|||||||269,073|
|Cyclical Repairs and Maintenance|Reserve|196,375|6,093||(1,052)|(55,836)|||H5,58D|
|Extraordinary
Rape'rs Reserve||1008 133|39|627|6859|94060|||946841|
|||3,6D9,061|1,425,063||(1,028$86)|(291,620)|167,502|(99,837)|3,781,283|
|Restricted
Funds||||||||||
|Fixed Asset Fund||1,636,401|||(35,964)||||1,600,437|
|Grassroots
Fund||311382|7|702|I 783|32 424|||284 877|
|||1,947,783|7,702||(37,747)|D2,424)|||1,885,314|
|Endowment
Funds||||||||||
|Permanent
Endowment||8,672,188||305|(163$60)|gl0,014)||99,837|8,528,456|
|||E14229 032|El 433|070|E I 23D 493|E 404 058|1167502|I -|114195053|
##
##
##
##
##
##
##
##
|21. Net As|sets by Funds|||||
|---|---|---|---|---|---|
|||Permanent|Restricted|Unrestricted|2021|
|||Endowment|Funds|Funds|Total|
|||E|I|I||
|Housing
Properties||3,759,155|1,564,473|1,479,664|6,803,292|
|Investment|Properties|4,048,000|||4,048,000|
|Other Fixed Assets||1,398,208||3,677|1,401,885|
|Investments||693,763|286,796|2,687,097|3,667,656|
|Net Current|Assets/(Liabilles)|66,670|59,822|359,439|485,931|
|Creditors
Due Outside One Year
Provisions
for Liabilities||(1,337,089)||(70,906)
~252 000|(1,407,995)
~252 000|
|||58 628 707|E1911091|E4 206 971|E14746769|
|||Permanent|Restricted|Unrestricted|2020|
|||Endowment|Funds|Funds|Restated|
||||||TotalI|
|Housing
Properties||3,812,089|1,600,437|1,548,437|6,960,963|
|Investment|Properifes|4,048,000|||4,048,000|
|Other Fixed Assets||1,417,036||4,550|1,421,586|
|Investments||580,068|230,333|2,193,729|3,004,130|
|Net Current|Assets/(Liabilities)|68,393|54,544|205,943|328,880|
|Creditors
Due Outside One Year
Provisions
for Liabilities||(1,397,130)||(79,376)
~92 000|(1,476,506)
~92 DDD|
|||E8 528 456|E1885314|E3781283|514 195D53|
##
##
##
|annuity
purchase
basis on withdrawal
from the sche|me.|me.|me.|
|---|---|---|---|
|Present Values ofDefined Benefit Obligation,|Fair Value ofAssets and Defined Benefit Asset/(Liability)
2021
2020|||
|||E||
|Fair value of plan assets
Present value of defined
benefit obligation||1,100,000
~1352000|997,000
~1DB9 ODO|
|Surplus/(deficit)
in plan||(252,000)|(92,000)|
|Reconciliation ofopening
and closing balances ofthe Defined Benefit Obligation||||
|||2021
I|2020
6|
|Defined benefit obligation at start of period
Current service cost||1,289,000
6,000|1,206,000
32,000|
|Expenses
Interest expense
Contributions
by plan participants
Actuarial
losses/(gains)
due to scheme experience
Actuarial
losses/(gains)
due to changes
in demographic
assumptions
Actuarial
losses/(gains)
due to changes
in financial
assumptions
Benefits paid and expenses
Defined benefit obligation at end of period||3,000
26,000
4,000
(24,000)
5,000
272,000
~29 DDD
1352 DOO|3,000
28,000
7,000
(6,000)
(10,000)
(39,000)
~32000
1089000|
|Reconciliation
ofopening
and closing balances ofthe Fair Value ofPlan Assets||||
|||2021|2020|
|||6|6|
|Fair value of plan assets at start of period
Interest
income||997,000
24,000|939,000
22,000|
|Experience on plan assets
Contributions
by the employer
Contributions
by plan participants
Benefits paid and expenses
Fair value of plan assets at end of period||58,000
46,000
4,000
~290011
I 100 ODD|13,000
48,000
7,000
~32 000
991000|
##
##
##
##
##
##
|Defined Benefit costs recognised
in Net Inc|ome/(Expenditure)||
|---|---|---|
||2021
6|2020
f|
|Current service cost|6,000|321000|
|Expenses|3,000|3,000|
|Net interest expense|2 000|6000|
||11,000|41,000|
##
|Defined Benefit costs rec|ognised
in Other|G|ains an|d Lo|sses|||
|---|---|---|---|---|---|---|---|
|||||||2021
I|2020
E|
|Experience on plan assets||||||58,000|13,000|
|Experience gains and losses|arising on the plan|liabilities||||24,000|6,000|
|Effects ofchanges
in the demographic
assumptions|||underlying||the|||
|present value ofthe defined|benefit obligation|||||(51000)|10,000|
|Effects ofchanges
in the financial
assumptions||underlying||the||||
|present value ofthe defined|benefit obligation|||||(272,000)|139,000|
|Ad
ll(l
)/gl
gl|dl
16
gl||~gl|I(l|)|~)96000|169000|
##
##
##
|||2021|2020|
|---|---|---|---|
|||(6OOOs)|(6OOOs)|
|Global Equity||175|146|
|Absolute
Return||61|52|
|Distressed
Opportunities||32|19|
|Credit Relative Value||35|27|
|Alternative
Risk Premia||41|70|
|Fund of Hedge Funds|||I|
|Emerging
Markets
Debt||44|30|
|Risk Sharing||40|34|
|Insurance-Linked
Securities||26|31|
|Property||23|22|
|Infrastructure||73|74|
|Private Debt||26|20|
|Opportunistic
Illiquid|Credit|28|24|
|High Yield||33||
|Opportunistic
Credit||30||
|Corporate
Bond Fund||65|57|
|Liquid Credit||13||
|Long Lease Property||22|17|
|Secured Income||46|38|
|Liability
Driven Investment||280|331|
|Net Current Assets||7|4|
|Total Assets||1,100|997|
|Key Assumptions|Key Assumptions|||2021
96per annum|2020
%per annum|
|---|---|---|---|---|---|
|Discount|Rate|||2.18|2.37|
|Inflation|(RPI)|||3.27|2.60|
|Inflation (CPI)
Salary Growth||||2.87
3.87|1.60
2.60|
|Allowance|for commutation|of pension|for cash at retirement|75%of maximum|75%of maximum|
|||||allowance|allowance|
|The mortality
a|ssumptions
adopted at 31st March|2021 imply the following
life expectancies:|
|---|---|---|
|||Life expectancy at age 65|
|||(Years)|
|Male retiring
in
Female retiring
Male retiring
in
Female retiring|2021
in 2021
2041
in 2041|21.6
23.5
22.9
25.I|
##
##
##
##
##
##
##
#
##
##
##
##
##