# ## ## ## ## |||Pages| |---|---|---| |Annual
Report ofthe|Trustees|1 —18| |Independent
Auditors'|Report|19 —21| |Statement of Financial|Activities|22| |Balance Sheet||23| |Statement of Cash Flows||24 —25| |Notes to Financial Statements||26 —46| ## ## ## ## ## ## ## |Trustees||| |---|---|---| |Housing
Pathways|Corporate Trustee, resigned 1"April 2022|| |Rev. Mark Melluish
Ms 3anet Weekes
Ms Katherine
Yentumi|Ex-Officio, Chair, from 1"April 2022
From 1"April 2022, resigned
15w September
From 1"April 2022, resigned
on 27a October|2022
2022| |Ms Isabella
Rossi
Mr Matthew
Doyle|From In April 2022
From 1"April 2022|| |Ms Andrea Ioseph
Mr Andrew Iefford|From In April 2022
From 1"April 2022, resigned
on 14" March 2023|| |Mr 3oshua
Reddaway|Appointed
on 27a October 2022|| |Ms Fiona Howie|Appointed
on 13'"Iuly 2023|| |Ms Tycia Riley|Appointed
on 13'"Iuly 2023|| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |The main
Pathways
Grants
programme
is funded
from the net rental
income derived
from our commercial
shops atThe Green, Ealing.|The main
Pathways
Grants
programme
is funded
from the net rental
income derived
from our commercial
shops atThe Green, Ealing.|The main
Pathways
Grants
programme
is funded
from the net rental
income derived
from our commercial
shops atThe Green, Ealing.|The main
Pathways
Grants
programme
is funded
from the net rental
income derived
from our commercial
shops atThe Green, Ealing.|The main
Pathways
Grants
programme
is funded
from the net rental
income derived
from our commercial
shops atThe Green, Ealing.|The main
Pathways
Grants
programme
is funded
from the net rental
income derived
from our commercial
shops atThe Green, Ealing.|The main
Pathways
Grants
programme
is funded
from the net rental
income derived
from our commercial
shops atThe Green, Ealing.|The main
Pathways
Grants
programme
is funded
from the net rental
income derived
from our commercial
shops atThe Green, Ealing.|The main
Pathways
Grants
programme
is funded
from the net rental
income derived
from our commercial
shops atThe Green, Ealing.| |---|---|---|---|---|---|---|---|---| |Our main programme
strategy
is to fund work which
benefits
people
in communities.
We support
full cost
recovery and will consider giving grants for up to 3years for organisations
that are able to demonstrate
that
they have monitored
and evaluated
their work, have learned
lessons and refined
their approach,
and have
achieved
their stated results.
However,
we do generally
limit our programme
to small organisations
defined||||||||| |as those|with|an|annual||income of less than E100,000 a year.|||| |Main programme|||recipients were as follows:|||||| |Reci ients|||||Pro'ect||Grant|| |Ealing Music|||||EMT was established
by a group of parents
with
children
with|special|E7,500|| |Therapy|||||needs which provides
Music Therapy
on a full day basis in schools within|||| ||||||the London
Borough of Ealing.|||| ||||||EMT benefit
more
children
and
young
people
with
special|needs||| ||||||attending
school in the London Borough of Ealing through
Music|Therapy||| ||||||over the next 18 months
and beyond.|||| |Into the Light|||||Childhood
Abuse Support Project- supported
16women to improve their
emotional
wellbeing
and tackle isolation
by connecting
them to other||I7,860|| ||||||survivors.
The project was a two 10-week psychoeducational
course for|||| ||||||adult
survivors
of childhood
sexual abuse
in Ealing. It focused|on the||| ||||||impact ofsexual abuse
in adults.|||| |Young|Ealing||||The project will support
small,
local charities that support
children.||110,000|| |Foundation|||||The project enables them to work with members
who are ready|to move||| ||||||towards
sustainability
by supporting
them
over 12 months
to|develop||| ||||||the
following
through
a range
of group
workshops
and
one-to-one|||| ||||||suppolt|||| |Homestart||Ealing|||The Project will provide
targeted
support
work to families
in|Hanwell,|EIOI000|| ||||||Ealing and Dormers
Wells areas who have at least 1 child aged|under
5||| ||||||with a special focus on those with
children
born
during
or just before|||| ||||||lockdown
who are isolated and struggling.|||| ||||||The project will work intensively
with 10-12families for approx 6 months|||| ||||||with
intensive
input
from
a skilled
and experienced
staff member
to|||| ||||||tackle serious concerns and issues like the cost-of-living
crisis,|benefits,||| ||||||housing,
and mental
health.|||| ## ## ## ## ## |Reel|ients|Pro'ect|Grant| |---|---|---|---| |Alliance Arts||The
project
Isolation
Empowerments
main
goal
is to
provide
50|f5,000| |||residents
from various ages ranging
from 6-32 years old from all diverse|| |||backgrounds,
gender
identities
and
religions
etc within
the Brentford|| |||and Hounslow
area. Their main aim is to instils confidence
into nervous|| |||individuals
through
the arts helping
to address
and discuss the topic of|| |||isolation
due to the pandemic,
and to create safe spaces for teenagers|| |||working
towards
the
prevention
of street
crime
and
possible
career|| |||development
skills within the arts sector.|| |Ealing|Law Centre|The Ealing
Law Centre project
is a provision
of free legal advice and|610,000| |||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 navigate the appeals|| |||and tribunal
system.|| |Women's Trust||The project provides
free 1-to-1 specialist domestic
abuse
counselling|I'I,700| |||for Ealing women,
main objective
is to expand
their capacity to provide|| |||at least 30women ages 16-100,with in Ealing who are unable to receive|| |||support to be offered domestic abuse counselling
giving 9women
in the|| |||local
area
the
opportunity
to
receive
emotional
support
through|| |||counselling,
participation
in
self-development
workshops,
hardship|| |||support
and legal advice. The project has now expanded
their services|| |||to teenagers
due to lack of support
resources
provided
to this age|| |||demographic,
the increase of domestic abuse through
technology
and|| |||the Covid-19 pandemic.|| |Age LiK Ealing||The project was aimed to provide
older people from 75-100 with
in the|E9,797| |||borough
of
Ealing
support
lines
and
companionship
through
care|| |||centres.|| |||Ealing
befriending
project's
main
objective
is to support
local senior|| |||people
ranging
from 75-100 with free call support
services, day centre|| |||activities and access to advice to improve
health and wellbeing,
financial|| |||hardships,
and
housing
etc. Improving
living
conditions
and
relieving|| |||feelings of isolation
working
towards the prevention
ofextreme cases of|| |||poverty
and homelessness
amongst the older demographic
to increase|| |||confidence
and independence.
Providing
day care centres to alleviate|| |||feelings of isolation
and exclusion
through
various
activities
promoting|| |||friendship
building
and
preventing
the further
decline
in physical
and|| |||menta
I health.|| ## ## ## ## ## ## |Distributive
grants (continued)|Distributive
grants (continued)|Distributive
grants (continued)|Distributive
grants (continued)|Distributive
grants (continued)|Distributive
grants (continued)|Distributive
grants (continued)|Distributive
grants (continued)| |---|---|---|---|---|---|---|---| |Branch 2 grants are administered
by the Ealing Deanery Synod, who handle
all grant administration
including
seeking and assessing
applications,
deciding on grant recipients,
carrying out all appropriate
monitoring,
and
providing
subsequent
grant evaluations
for scrutiny
purposes.
In 2022-23 the Synod was granted
f22,670
(2022: E00,821)to award to their agreed
recipients.
Whilst each of the grants
is small
in value, there is a
real and very beneficial
impact on the churches
involved
and their level of outreach.|||||||| |Church Community|||Project|||Amount|| |St Mary' s, Ealing|||South Ealing Community
Food Cupboard|||f750|| |The Ascension,
Hanger
Hill with St|||Parish publicity to new or hard to access|||E2,000|| |Mary's West Twyford|||housing||||| |St Paul's
Ealing|||Ealing Community
School of English|||E1,500|| |St Barnabas,
Pitshanger|||Children's
Worker for Noisy Mass|||E1,500|| |St Martin' s, West Acton|||Support for Ukrainian
refugee|||6300|| |St Dunstan's,
East Acton|||Garden
Club and
Muddy Church|||F2,000|| |St Dunstan's,
East Acton|||Acton Asylum
Seeker drop-in|||E2,000|| |Holy Cross, Greenford|||Internal
notice boards|||f1,000|| |Christ the Redeemer
Southall|||Loop system
incorporating
the audio|system||E2,000|| |All Hallows,
Greenford|||All Hallows
Community
jubilee
Party|||E2,000|| |StThomas
Hanwell|||Church
Hall Notice Board|||E2,000|| |St Mellitus
with St Mark|||New external
notice boards|||E1,620|| |St john's Southall
Parish|||Food Hub|||f2,000|| |St George' s, Southall|||Youth Discipleship
Cells|||E2,000|| ||||TOTAL APPROVED|||E22,670|| ## ## ## ## ## ## ## ## ## ## ## ## ## |alue for Money Key Metrics|||||||| |---|---|---|---|---|---|---|---| |||||||Hfop|| |||||||peer|Housing| |||||||gl'oup|Pathways| |||||||2022-23|Trust| |1. Reinvestment
a/o|||||||| |Considers the investment
in properties
(existing stock as|||||||| |well as new supply) as a percentage
ro erties held.||ofthe|value of||total|4.02%|1.59a/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
oftotal social housing|and non-social
housing||||||| |homes owned at period end.|||||||| |A. New supply delivered
(Social housing
homes)||||||0%|Oa/o| |B.New su
I
delivered
Non-social||housin||homes||0%|Oo/a| |3. Gearing
a/a|||||||| |Assesses how much ofthe adjusted||assets|are made||up of||| |debt and the de ree of de endence||on debt||finance.||5.42%|333 o/o| |4.
Earnings Before Interest, Tax, Depreciation,|||||||| |Amortisatlon,
Major Repairs Included|||(EBITDA MRI)||||| |Interest Cover a/o.|||||||| |A key indicator for liquidity
and investment|||capacity.||||| |Measures the level of surplus
generated
compared
to|||||||| |interest
a able||||||439%|772a/o| |5. Social Housing Cost Per Unit|||||||| |The headline
social housing cost per||unit as||defined|by the|E5,864|66,854| |Re ulator|||||||| |6. Operating
Margina/o|||||||| |Demonstrates
the profitability
ofoperating|||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)||10.29%|(4.32)a/o| |B.Operating
Margin
(overall) after|adjusting|||for impairment|||| |and mer er costs|||||||10.52a/o| |7.
ROCE a/o|||||||| |Compares
the operating
surplus to|total assets less current||||||| |liabilities.
An assessment
of the efficient investment|||||of||| |ca ital resources.||||||1.20%|0.98a/o| ## ## ## ## |ocial|Housing
Cost|per Uni|t|| |---|---|---|---|---| ||||Hfop|| ||||peer|Housing| ||||group|Pathways| |Cost|er home||2022-23|Trust| |Management
costs||||2,640| |Service charge costs||||1,132| |Routine maintenance||cost||2,320| |Planned
maintenance||||| |Major|repairs expenditure|||762| |Other|socia I housing|costs||| |Total|||65,864|E6,854| ## ## ## |e
Per|formance|Indi|cato|rs|||| |---|---|---|---|---|---|---|---| |||||||Hfop|Housing| |||||||2022-|Pathways| |||||||23|Trust| |Current|resident|annual|WMC collection rate|||100.9%|101.3%| |Current|resident|arrears|as|a %ofthe annual|WMC|0.71%|2.3%| |Rent loss through||dwelling||being vacant %||1.6%|1.9%| |Average|re-lets time (calendar days)|||||30days|75 days| |Re-lets|as a percentage||of|stock %||13%|4.1%| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||||||CI
ID
LD||CD O Ol w
0IOIAQ
CD Ol ID IA|CD O Ol w
0IOIAQ
CD Ol ID IA|CD O Ol w
0IOIAQ
CD Ol ID IA|CD O Ol w
0IOIAQ
CD Ol ID IA|O
ID
Cl|0
O|0
Ol|0
Ol||||||IA O
N OO|IA O
N OO||ID
Cl
Cl|||Ol|N
Cl| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |||IQ
IO|tll
CD
«0||||NUIH
N Pl
DD
I|||PIA
M I|||IA||||||M
Cl|M
tf|N||IO
ID|||(I
IO
CI|Cl| ||CO
th0
0Z
'0|0
Cl
E
g
0
0
IU|IQ
CW
0
V||||||||Cl
CI
Cl|Cl
CI
ID
I||||UI
IO
IO
IA|Ol
CD
'IO|CD
f||N
0
0|O
0
0
N
I||||||Pl
Cl
ID
M
Lh| ||Ql0
QD
E|'0|||||||||||Ul|||ID|||M|||||||Pl|I
CD| ||U
IC0|$|0 W
Q|||||||||||||Pl
CD|||Ul
CD|||||||IM
M|IAD
M| ||tC||||||||||||||||||||||||||| |||'0
EN
'L
CD|||Cl
ID
Cl||DD
ft
Ol
N
N|Cl
ID
Ch
Ifl
N|Ol
Ul
IO
CD|N
N
N||||||CD
I
N
LD|Ol
Ol
I
01O
O Ul
N R||N
ID
Q
Cl|'lt
IA
Cl
ID|||Cl
0
O
ID
'IO|S
0
0!
f
ht|||I
IO| |||tll|«||||I||||||||||||CD||||||||| |CVt||00|||||||||||||||||||||||||| |Iht|||||||||||||||||||||||||||| |CS|||||||||||||||||||||||||||| |thl||QI|tll
U||CI
Cl
CI||\O 0 ID N
ON&M
0 I
I
N Pl
'IO N Al
t|||||ID||Ol
I||N
IA
Ul
O
Ol|CD0
Ul I
CD M
N
Ch
NO|||Ol
0
N
CD
htN|O
0
Ul
ID
M|M
Ol
Cl
'IO
Pl|Cl
Cl
Pl|||CI
MC!|ID
Ol
CI
I| |||||||||||||N|||||||||||||||| |ttt|||||||||||||||||||||||||||| |IS
IS'00||||||||||||||IA
Pl
LA||I
N
Ol
I
N
I|CI
CD
N|Ol
LA||DD
0
M
N
'll|O
0
Ul
Cl
IPl|||I
UD
CD|Cl
Pl
'ID||Ul
CI
CD
M
LA| |I
ITl|M
tQ0
N||||||||||||||||||||||||||| |Cl||'U0|N|||||||ID
Ol
CI||CI
Ol
Cl||||O
CD|||ID
N|LA
ID|||||ID
CD||| |I
I0||Ql
ttl
C|«|||||||CD||CD||||IA
CD|||I
CD||||||Ol||| |||'0
'C
L
g
CL
0|N
0 W
C
V||Cl
CI
Cl||ID NIO N
ON I'lt
I
N N 0 Ot
IOe PC0
I
N 0|||||ID||Ol||CD
N I
M Pl CD
N m
CD
&NO
IA|||I
CD
I||||0
O
O
M|w
I
ID
D
IO
CD|||| ||||N
Cl
0Z|||||||||||||||||IA|N||M
N|0
N|||| ||||||||||||||||||||||Ql||||||| ||||||||||||||||||||||Ql|||||Cl|N| ||||||||||||||||||||||CL0||||||EJ| ||||||||0|||||||||||||8||||||CL|Z| |||||8C N
Ql
t3—
E'gg
0 ID«C
h
N 0
0 c
0
th
8 C
fh
0 X
Lc CI0
'8
0
QI@08
C "C o
5|||||||||00
Cl
C0
CL
IO|Vl
Ql
Vl
Cl
LL—
Ol8
C
.N
IC
th
IC0
'8
0
Ql|||QQC|||Ef.
C C
L0 0
th
ttt
0 0
N
Vl
0 C
IO IS||lhC
Ql
CL
lt
Ql
Ql
E0
Ll
Ql|CD
N
C
05
Ql
0 C
IhCQ0
—8
th
th
lh||C
Cl
E
IU
0E
Ql|'0
fh
0
Ul
0
CI
Vl'0
IL|Pl0
th
0
1D
Ql
II
'8
IL| ## ## ## |||Notes||2023||2022|Combined| |---|---|---|---|---|---|---|---| ||||||E||E| |Fixed Assets|||||||| |Housing
Properties||10||11,623,708|||11,793,355| |Investment
Properties||11||4,413,500|||4,790,000| |Other Fixed Assets||12||1,3857988|||1,382,724| |Social Investments||14|||||| |Investments||15||4373678|||4 570 440| |||||21,796,874|||22,536,519| |Current Assets|||||||| |Trade and Other Debtors||16|280,487||173,722||| |Cash and Cash Equivalents|||1892 232||I 578|018|| ||||2,172,719||1,751,740||| |Creditors:
Amounts
within one year|falling due|17|~670 8114||535|316|| |Net Current Assets||||1,501,915|||1,216,424| |Total Assets less Current||||23,298,789|||23,752,943| |Liabilities|||||||| |Creditors:
Amounts|falling due||||||| |alter more than one year
Provisions for liabilities||18
23||(1,433,699)
~254 000|||(1,492,922)
~257 000| |Net Assets||||E21,711,090|||E22,103,021| |Funds|||||||| |Permanent
Endowment||20||13,538,705|||9,376,403| |Restricted
Funds||20||3,173,691|||3,265,877| |Unrestricted
Funds||20||499869'I|||9460 741| |Total Funds||||E21,711,090|||E22,103,021| |||||16/10/2023|||| ## ## ## |||Notes|2023|2022 Combined| |---|---|---|---|---| ||||f|f| |Net Cash generated
from Operating
Activities|||618,157|792,348| |Cash Flows from Investing
Activities
Capitalised
works to existing
housing
properties
Purchase ofother fixed assets|||(184,426)
(31,235)|(234,671)
(540)| |Repayments
of Social Investments
Proceeds from sale ofinvestments|||436
1,944,029|1,743
725,349| |Additions
to investments|||(2,121,167)|(708,104)| |Investment
management
fees
Investment
income and bank interest received|||(19,330)
115739|(22,012)
116141| |Net Cash generated
from/(used
in) Investing|Activities||295954|122094| |Cash Flows from Financing
Activities
Interest
paid
Repayment
of Loans|||(67,533)
~75 064|(38,358)
~84 922| |Net Cash (used in)/generated
from Financing|Activities||142 597|123280| |Net Change
in Cash and Cash Equivalents|||179,606|546,974| |Cash and Cash Equivalents
at the beginning|ofthe||1,734,877|1,187,903| |year||||| |Cash and Cash Equivalents
at the end ofthe|year||El 914483|El 734 877| |A
Cash Flows from Operating
Activities||||| |Net Income/(Expenditure)
for the year
Depreciation
Income from Investments|||(360,931)
368,'l60
(127,276)|1,345,828
380,210
(121,831)| |Interest Payable
Investment
management
fees
Decrease/(Increase)
in Debtors|||71,533
19,330
(104,235)|43,358
22,012
154,251| |Increase/(Decrease)
in Creditors|||151,329|(99,099)| |(Decrease)/Increase
in Pension
Provision
Disposal of fixed assets|||(38,000)
13,584|(34,000)
39,087| |Reversal of impairment
of Social Investments|||(436)|(1,743)| |(Gains)/Losses
on Investments
Revaluation
of investment
property|||2'l8,299
376 500|(193,725)
~742 0110| ||||618 157|1792348| |B
Cash and Cash Equivalents||||| |Bank Balances|||1,892,232|1,578,018| |Investment
Managers
Cash|||22 251
1914483|156859
E1734 877| ## ## ## ## ||||At 01.04.22
f|Cash Flows
f|At 31.03.23
f| |---|---|---|---|---|---| |Cash|and Cash equivalents||1,734,877|179,606|1,914,483| |Loans|falling due within|one year|(138,644)|15,841|(122,803)| |Loans|falling due after|more than one year|(1,441,046)|59,223|(1,381,823)| |Total|||155 187|254 570|5409857| ## ## ## ## ## ## ## ## ## ## ## |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
lk|external||doors|Over 30years| |Gas boilers||||Over 15years| |Kitchen||||Over 20 years| |Bathrooms/WCs||||Over 30years| |Mechanical|systems|||Over 30 years| |Electrics||||Over 40 years| |Fire alarms/warden|||call|Over 15years| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||||2023|2022| |---|---|---|---|---|---| |||||f|f| ||Almshouse||Accommodation||| ||Maintenance||contributions|1,536,856|1,497,602| ||Services contributions|||225 550|225 246| |||||1,762,406|1,722,848| ||Allotments||||| ||Allotment|rents||12724|25 960| |||||E177513D|61748808| |3.|Income from Other Trading Activities||||| ||Management||Fees|5,598|| ||Private Lets|||207,994|181,659| ||Office rent|receivable||11154|| |||||E2247'16|E181659| ## ||Investment|Property|||||| |---|---|---|---|---|---|---|---| ||Rent receivable|||||245,904|240,350| ||Ground
rent|receivable||||3,950|3,950| ||Service charges receivable|||||40101|6841D| |||||||289,955|312,710| ||Investment|Income|86 Bank||Interest|127276|121831| |||||||f417 231|5434 541| |5.|Expenditure
on Raising||||Funds||| |||||||2023|2022| |||||||f|f| ||Investment|management||fees||19,330|22,012| ||Support costs —managing|||KGV||12,597|| ||Investment|property|costs||||| ||Management|lk support costs||||73,051|69,849| ||Maintenance|||||31,935|39,600| ||Insurance|||||20,813|18,218| ||Section 20 works||||||36,214| ||Professional|fees||||11,'l63|15,883| ||Bad debts|||||(51,699)|50,130| |||||||E117490|6251906| ## ## ## ## |||||||2023|2022| |---|---|---|---|---|---|---|---| |||||||f|f| |Almshouse|Accommodation||||||| |Management||&|support|costs||662,108|586,493| |Services||||||273,953|191,983| |Maintenance||||||561,447|488,376| |Depreciation||||||340,489|360,426| |Disposals||||||13,584|29,170| |Bad debts||||||10,110|409| |Interest payable||||||43 030|24909| |||||||1,905,521|1,681,762| |Allotments|||||||| |Management||||||9,935|8,100| |Depreciation||||||1,194|1,194| |Maintenance|||||||1,738| |Support costs||||||11729|11666| |||||||22,858|22,688| |Grant-making|||||||| |Grants awarded|||to institutions|||88,086|55,969| |Grants officer||costs|||||10,082| |Reversal of|impairment|||ofconcessionary|loan|(436)|(1,743)| |Support costs||||||21720|11241| |||||||109,370|75,549| |||||||E2 037 749|E1,779999| ## |Support Co|sts||| |---|---|---|---| |||2023|2022| |||f|f| |Staff costs||433,119|EI16,075| |Administration||163,003|177,649| |Depreciation|ofoffice property|17,633|17,633| |Depreciation|ofoffice equipment|8,273|| |Professional|fees|21,802|5,936| |Bank charges|and sundries|1,558|5,564| |Loan interest||23,703|13,453| |Pension costs and interest||7,000|11,697| |Irrecoverable|VAT|37,387|13,640| |Governance|costs|10,514|17,592| |||f723,992|f679,239| ## ## ## ## |nd their costs are rec
of staff costs charged|harged
across the charities
on
to the Charity
is as follows:|a set basis reviewed
annually.
Th|e proportion| |---|---|---|---| |||2023|2022| ||||f.| |Wages and salaries||24'l,629|344,567| |Social security costs||21,640|31,293| |Pension costs||15,667|19,142| |Redundancy||9,167|16,386| |Agency staff 82 interim|contractors|143,711|14,769| |||6434,814|1'426,157| |Social Housing
Lettings||||||| |---|---|---|---|---|---|---| |Maintenance
contributions|||||1,536,856|1,497,602| |Service charges receivable|||||225 550|225 246| |Turnover
from Social Housing||Letting|||1762406|1722 8'18| |Management|||||638,962|570,560| |Services|||||273,953|191,983| |Routine
and Cyclical Maintenance|||||561,447|488,376| |Property
Depreciation|||||340,489|360,426| |Bad debts|||||10 110|409| |Operating costs ofSocial|Housing||Lettings||1824 961|1611754| |Gain/(Loss)
on replacement|of components||||(13,584)|(29,170)| |Operating
surplus/(deficit)|on|Social Housing||Lettings|E 76 139|E81924| |Net Surplus/(Deficit)
on social housing|||lettings||~E 143 115|E41086| |Void Losses|||||E34 678|E5 539| ## ## ## ## |Fixed Assets Housing Properties||| |---|---|---| ||2023|2022| ||Total|Combined| ||6|Total| |||f| |Cost||| |As at 1st April 2022
Works to existing properties
Disposals|15,377,898
184,426
~l2 930|15,214,962
234,671
~72 735| |As at 31st March 2023|15519394|15377 898| |Depreciation||| |As at 1st April 2022|3,584,543|3,257,241| |Charge for the year
Disposals
As at 31st March 2023|340,489
~29 3'15
3 895 686|359,950
~32648
3 584 543| |Net BookValue at 31st March 2023|811,623,708|611,793,355| ## |Investmen|t
Properties||||| |---|---|---|---|---|---| |||Ealing Green|Vaughan|Court|Total| |Fair Value|||||| |As at 1st April 2022||4,790,000|||4,790,000| |Additions|||||| |Movement|in fair value|(390,000)|13,500||(376,500)| |As at 31st|March 2023|E4400 ODO|613|EDO|E4 413 5DO| ## ## ## ## |Other Fixed Assets|||||| |---|---|---|---|---|---| |||Fixtures,|||| |||Fittings|82||| ||Allotments
f|Equipment
f||Office
f|Totalf| |Cost|||||| |As at 1st April 2022|798,881|17,747||679,846|1,496,474| |Additions||31,235|||31,235| |Disposals|||||| |As at 31st March 2023|798881|48 982||679 846|1527 709| |Depreciation|||||| |As at 1st April 2022|11,174|14,404||88,172|113,750| |On disposals
Charge for the year
As at 31st March 2023|1194
12368|9 144
23 548||17633
105 805|27 971
141721| |Net BookValue|||||| |At 31st March 2023|6786 513|E25 434||E5740'11|E1385988| |At 31st March 2022|f787,707|f3,343||f591,674|f1,382,724| ||All 2022 figures
i|All 2022 figures
i|n this|note represent
combined
figures.||| |---|---|---|---|---|---|---| |13.|Capital Grants||||2023|2022| |||||||Combined| |||||||f| ||Aggregate|amount||received||| ||At 1st April|2022|and|31st March 2023|f5,835,488|f5,835,488| ||Released|to Statement of Financial Activities||||| ||At 1st April|2022|and|31st March 2023|f5,835,488|f5,835,488| ||Social Housing||Grant Carrying Value|||| ## ## ## ## |SocialInvestments||| |---|---|---| ||2023|2022| ||f|E| |Concessionary
loans||| |At 1st April 2022
Repayments
in the year
Reversal of impairment
At 31st March 2023|(436)
436
E -|(1,743)
1743
5-| ## |FixedAssetInvestments||||| |---|---|---|---|---| |||2023||2022| |||||Combined| ||Unrestricted|Grassroots|Total|Total| ||f|E|f|E| |Fair Value
At 1st April 2022
Additions
Disposals
Unrealised
gains/(losses)
At 31st March 2023
Cash Deposits|4,128,402
2,044,732
(1,978,360)
~226 273
4,078,501
18860
E4 D97 361|285,179
85,442
(89,569)
~8126
272,926
3391
E276 317|4,413,581
2,130,174
(2,067,929)
~224 399
4,351,427
22 251
E4 373678|4,225,333
719,872
(735,309)
203 685
4,413,581
156859
E4 570 44D| |Fixed Interest
Equities and Unit Trust
Property
and Alternatives
Cash and Money Market|200,321
3,394,304
383,876
11886D
E4D97 361|20,130
221,720
31,076
3391
f276 317|220,451
3,616,024
414,952
122251
Ef 373678|166,496
3,832,606
4147479
156859
f4 57D44D| ## ## ## ## |Debtors||||| |---|---|---|---|---| ||||2023|2022 Combined| ||||f|f| |Residents'
Contributions|||64,334|38,968| |Provision for Doubtful
Debts|||(10,110)|| ||||54,224|38,968| |Private Let and Investment|Property|Debtors|196,018|117,720| |Connected
parties:||||| |Educational
Foundation|of Francis|Courntney|3,000|| |King George V Memorial
Prepayments
and accrued|Houses
income||4,665
22,580
E280487|17,034
E173722| |Creditors: Amounts
falling due within one year||||| |||||f| |Trade Creditors|||166,418|75,205| |VAT and Social Security|||23,114|12,536| |Connected
parties:
Housing
Pathways|||73,867|9,412| |King George V Memorial
Loans (Note 19)
Grants payable
Deferred income|Houses||122,803
8,550
71,385|1387644
26,306
68,046| |Accrued expenses
84Other Creditors|||204 667
E670 804|205 167
E535316| |Deferred
income at 1 April|||68,046|68,038| |Income recognised
in the year
Amounts
deferred
this year
Deferred
income at 31 March|||(68,046)
71,385
f71,385|(68,038)
68,046
f68,046| ## |18.|Creditors: Amounts|falling due outside one year||| |---|---|---|---|---| ||Tenant deposits
Loans (Note 19)||51/876
1,381,823|51,876
1,441,0'l6| ||||f1,433,699|f1,492,922| ## ## ## ## ## |Loans|||| |---|---|---|---| |||2023|2022 Combined| |||E|f| |Repayable
Repayable
Total Loans|in less than one year (Note 17)
in more than one year (Note 18)|122,803
1,381,823
El 60'1,626|138,644
1,441,046
E1,679 690| |||JJ
Cl
IC
(Q|Yl
N
N
P W
(Q
g|Yl
N
N
P W
(Q
g|P1
LA
ID|Yl
N
O
Ot
ID|Yl
N
O
Ot
ID|W
GO
Yl IA
FP N
Ch N
LA
'IF ID|W
GO
Yl IA
FP N
Ch N
LA
'IF ID|U
Ch
CO
Ch
Ch|CO PI
OGO
IA
Nw
NLA
CO M
N
Ot
ID
F
Yt|LA O
O Ot
P
O
GO
Yt
LA
Yl
W|N
(C 0
N
8 J=
c(JW
0
IQ g|N
(C 0
N
8 J=
c(JW
0
IQ g|N
(C 0
N
8 J=
c(JW
0
IQ g|N
ID
ID
N|M
O
Ch
'LO
PJ|M
O
Ch
'LO
PJ|LA NM
LA
Ch
ID
CO
Ul IA
4 LO
FP
P
O
ID
Ch|GO Ch
GO
GO
M U
NCO
0 LA
C/I M
N
GO
LA
'LO|GO Ch
GO
GO
M U
NCO
0 LA
C/I M
N
GO
LA
'LO|MO
ID
M
Ot
ct
Mct
W|MO
ID
M
Ot
ct
Mct
W| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |||||||||||||||(II|||||||||| ||||N
I0
cNW
IQ||ID
ID
GO|||||ID
GO
U'||||N
c
N W
I(C||ct
Ch|||ct
(Ft|||O|| |||IhC Ph
Vl
0( N0
LinW
0
0|||ct
COct|||||CO0
(D
M||ct0ct
M|N0
g
J
0JJ|Ph
0
LV||c!
ct
ID
ID|||ctct
(D
'LD||||ctct
CO
W| ||O/INO
CC|N
N c
Cl
N~ N
w
IU
Vl)
c c|||(D
GOct|||NN
W|LA
Yl
p|ID|IA
F0
Pl
IJI
O
Pl|GO
Ch
O Ot
CCI
CO
'IF
W|Vl
IhI"
oE
w
N lll
w 5
Ih )
0 c|||P
ct
I|||Ch
CO
LA0 0
LA
O||'ID
'(F
ID||O0
'IDN| |||IQ
e|0
0||||||||||||||||||||| |CI|||||||||||||||||||||||| |Ih5|X|||||||||N|0 w
CO N
N
C/I
O|Ch
ID
LA||||LA|||N
LA
O
GO
ID|ID|LA
MN||N
LA
CI
Ch| |(C
IJc
(Cc
IL|||0
IUIL
X
IU||LA|||||GO|LA
GO
P
CO|IA IA
GO IA
N
W||~ W
c
IU
IL
lil||Ch|||N
0
CO|P\
GO|||M
ID| |Cl|||||||||||||||||||||||| |0
I
N
CI
4J0Z|I
I-
I0
IL||Cl
E0|W|Pl|||Ot
YI
LA|O
IA
Yt
M|0|O
0
CO
O
Ch
0
CO|0
Ch
UJ||0
E0
IJ0|IUI||||ID
ID
GO
GO ID
M
Pl
Cht
ID
Ch
IA||Yt
P
P1
N||OO
O
I/IN
GO
CO
ID| |||JJ N
0 N
IU0
LJ N
C
IC 'P
(C IL
(0 JC||Ill|'LO0||Yl U1
O IA
Ch ID
NU||N
CFI
CO
LA
ID|P
O
Ch|GO
Ch
GO
GO
MFC
NCO
0 LA
Ch M
N
CO
I/I
ID
N
Yl|M0 N
'Cf 0
P
O
Pl
OI N
UJ|IC N
Cl N
I0.||W|GO
Ch||M N Yl
N
C/I
O Ul
U
(ll IA (O
ID IA
CO
NU
I/I
ID
IA
CO||U
GO
O~
N
'IO
Otg
N
N
M
M
Yt|||0
N
GO
ID
GO
M
Ch
'ID
CO
UJ| |||||||||Ql2
(D|||||||||||Ql2
IU||||| |||||||||Ql|||||||||||Ql
CL'||||| |||||||||Ql|||||||||||8||||| |||c
IL
ct|L
IC
IU
00
0||D
IL'0
c
'(O
N +4
Ch
Qt
fO
8a||Ql
(0
(U
c
ID
IO
Z
c
'm||2
(UN
(U
(h
Ln
(O
Ql
P||N'0c QO Qoc
IL (0
IB
N 00
Vl
Vl
x 2
IL (3|c
in
Ql
'0 E
c0 0
U
c
Cl J
E
(D
c e
III CL||'0
Clc
JO
E
CJ
I
IC0
0
I0||c
IL
I/I
0 e
D (U|~O
Nl
a|IO
(U
c 2
8 N
Ql
IO (h
K
Lh
IO
c
(O a
(D
Ql2 EL
Qt
c
8
LI
CF||N'0~
0 c
IL D
LL
0
0
VI
I/I
IO
(9
1O||0
Cl
E
0
IU
in
QO
c
U0|L
UJ
c
Qlc
IOE
Ql
CL
(U
E
0| ## ## ## ## ## ## ## ## ## ## ## |NetAssetsbFunds|||||| |---|---|---|---|---|---| |y||Permanent|Restricted|Unrestricted|2023| |||Endowment
f|Funds
f|Funds
f|Total
f| |Housing
Properties
Investment
Properties
Other Fixed Assets
Investments
Net Current Assets/(Liabilities)
Creditors
Due Outside
One Year
Provisions for Liabilities||8,598,585
4,413,500
1,360,554
670,692
(122,803)
(1,381,823)
E13538705|2,822, 108
276,318
75,265
63 173 691|203,015
25,434
3,426,668
1,549,453
(51,876)
~254 00~
64 998694|11,623,708
4,413,500
1,385,988
4,373,678
1,501,915
(1,2l33,699)
~1540011
E21 711090| |||Permanent|Restricted|Unrestricted|2022| |||Endowment
f|Funds
f|Funds
f|Totalf| |Housing
Properties
Investment
Properties
Other Fixed Assets
Investments
Net Current Assets/(Liabilities)
Creditors
Due Outside
One Year
Provisions for Liabilities||3,701,487
4,790,000
1,379,381
716,549
63,031
(1,274,045)
E9376 403|2,907,388
291,322
67,167
E3265 877|5,184,480
3,343
3,562,569
1,086,226
(218,877)
~157000
E9460 741|11,793,355
4,790,000
1,382,724
4 570 440
1,216,424
(1,492,922)
~157000
E22 103021| ## ## ## ## ## ## |Reconciliation ofopening
and closing balances ofthe Defined|Benefit Obligation|| |---|---|---| ||2023
f|2022| |Defined benefit obligation at start of period
Current service cost
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|1,196,000
3,000
3,000
33,000
2,000
(27,000)
(2,000)
(362,000)
~3000~
E816 DOO|1,352,000
10,000
3,000
29,000
4,000
(17,000)
(19,000)
(105,000)
~61tlDtl
El 196000| ## ## |Reconciliation
ofopening and closing balances o|fthe Fair Value of Plan Assets|| |---|---|---| ||2023
f|2022
f.| |Fair value of plan assets at start of period
Interest income
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|1039000
29,000
(422,000)
44,000
2,000
~3D tl00
E662 000|1,100,000
24,000
(75,000)
47,000
4,000
~62 000
El 039000| ## ## ## |Defined Benefit costs recognised|in Net Income/(Expenditure)|in Net Income/(Expenditure)|in Net Income/(Expenditure)|in Net Income/(Expenditure)||| |---|---|---|---|---|---|---| ||||||2023
6|2022
f| |Current service cost
Less: amount
allocated to other group charities
Expenses
Netinterest
expense|||||3,000
3,000
4 000|10,000
(3,303)
3,000
5 000| ||||||E10,000|E14,697| |Defined Benefit costs recognised|in Other|Gains and Losses||||| ||||||2023|2022| |Experience on plan assets|||||(422,000)|(75,000)| |Experience
gains and losses arising|on the plan|liabilities|||27,000|17,000| |Effects of changes
in the demographic
assumptions
underlying
present value of the defined
benefit obligation
Effects of changes
in the financial
assumptions
underlying
the
present value ofthe defined
benefit obligation||||the|2,000
362,000|19,000
105,000| |Ad:
II/I
)/gl ~
gl
dl ~|th«gl|dgl|//I|)|~f31000|f66 000| ## ## ## ## |Pension Obligations
(continued)||| |---|---|---| ||2023|2022| |Assets|(f000s)|(f000s)| |Global Equity
Absolute
Return
Distressed
Opportunities
Credit Relative Value
Alternative
Risk Premia
Emerging
Markets Debt
Risk Sharing
Insurance-Linked
Securities
Property
Infrastructure
Private Debt
Opportunistic
Illiquid
Credit
High Yield|12
7
20
25
1
4
49
17
29
76
29
28
2|199
42
37
34
34
30
34
24
28
74
27
35
9| |Opportunistic
Credit
Corporate
Bond Fund
Long Lease Property
Secured Income
Liability
Driven Investment
Currency
Hedging
Net Current Assets|20
30
305
1
7|69
27
39
290
(4)
7| |Total Assets|f662|f1,039| |
financial
instruments
or any property
occupi|ed
by, or other assets used by, the employ|er.| |---|---|---| ||2023|2022| |Key Assumptions|'/0 per annum|'/o per annum| |Discount Rate
Inflation
(RPI)
Inflation
(CPI)
Salary Growth|4.86
3.19
2.77
3.77|2.79
3.54
3.17
4.17| |The mortality
as|sumptions
adopted at 31st March|2023 imply the following
life expectancies:| |---|---|---| |||Life expectancy at age 65| |||(Years)| |Male retiring
in
Female retiring
Male retiring
in
Female retiring|2023
in 2023
2043
in 2043|21.0
23.4
22.2
24.9| ## ## ## ## ## ## ## ## ## ## |al
sis of
rinci
al So|F|A com onen|A com onen|A com onen|ts for the curr|ent|re ortin
eriod||| |---|---|---|---|---|---|---|---|---|---| |||HPT pre-
merger
f|||Pathways
Jubilee||Almshouse
R
Eleemosynary
E|HPT post-
merger
f|Combined
Total| |Total Income||||||||2,419,107|2,419,107| |Total Expenditure
Investment
gains
Net Income||||||||(2,155,239)
624 799
(360,931)|(2,155,239)
624 799
(360,931)| |Actuarial
losses||||||||31000|31000| |Net Movement
in||||||||f(391,931)|f(391,931)| |Funds|||||||||| |Anal
sis of
rinci
al|SoFA com|||onents for the||revious re ortin
eriod|||| |||||Housing
Pathways
Trust
f|||Pathways
Jubilee|Almshouse
8L
Eleemosynary
f|Combined
Total
f| |Total Income
Total Expenditure
Gains on Investments|||||1,560,440
(1,204,516)
880 052||837,486
(798,817)
48 714|44,082
(28,572)
6 959|2,442,008
(2,031,905)
935725| |Net Income and
Actuarial
gains
Net Movement
in Funds
Total
funds
brought|||||1,235,976
66 000
1,301,976
14,746,769||87,383
87,383
5,773,078|22,469
22,469
171,346|1,345,828
66 000
1,411,828
20,691,193| |forward|||||||||| |Total funds carried|forward||||f16048 745||f5 860 461|f193815|f22 103021| |Anal
sis of net assets||ofthe|date||of mer er||||| |||||Housing
Pathways
Trustf|||Pathways
Jubilee|Almshouse
&
Eleemosynary
f|Combined
Total| |Net Assets|||||16,048,745||5,860,461|193,815|22,103,021| |Represented
by:
Unrestricted
funds
Endowment
funds
Restricted funds|||||4,785,344
9,376,403
1886 998||4,481,582
1378 879|193,815|9,460,741
9,376,403
3 265 877| |Total funds|||||f16048 745||f5 860 461|f193815|f22 103021|