| Page | |||
|---|---|---|---|
| Legal and Administrative | Information | ||
| Report ofThe Trustees | 2-4 | ||
| Accountants' Report |
|||
| Statement ofComprehensive Income |
|||
| Statement ofChanges | in | Reserves | |
| Statement ofFinancial | Position | ||
| Notes to the Accounts | 9-16 |
| Note | 2021 | 2020 | ||
|---|---|---|---|---|
| TURNOVER | 599,141 597 078 |
603,123 590 990 |
||
| Operating costs |
||||
| OPERATING SURPLUS FORYEAR | 2,123 | 12,133 | ||
| Interest receivable | 432 ~79 |
|||
| Interest payable | ||||
| TOTAL COMPREHENSIVE | SURPLUS FOR THK YEAR | K2,476 | K13,627 |
| Income and | Restricted | Total | ||
|---|---|---|---|---|
| expenditure | reserve | |||
| reserve | ||||
| Balance as at 1 March | 2019 | 1,376,565 | 1,376,565 | |
| Total comprehensive | surplus for the year | 13 627 | 13 627 | |
| Balance at 29 February 2020 | 1,390,192 | 1,390,192 | ||
| Total comprehensive | surplus for the year | 2 476 | 2476 | |
| Balance at 28 February 2021 | X 1,392,668 | S 1,392,668 |
| Notes | 2021 | 2020 | ||
|---|---|---|---|---|
| FIXEDASSETS | ||||
| Housing properties Office equipment Furniture and equipment |
2,112,175 1,575 29280 |
2,143,030 | 2,139,182 1,460 38 129 2,178,771 |
|
| CURRENT ASSETS | ||||
| Stock Debtors and prepayments Cash at bank and in hand |
10 11 |
731 52,158 387690 440,579 |
931 23,595 392725 417,251 |
|
| Creditors: Amounts falling due within one year |
12 | 55 160 | 53 181 | |
| NKT CURRENT ASSETS | 385 419 | 364070 | ||
| TOTAL ASSETS LESS CURRENT LIABILITIES |
2,528,449 | 2,542,841 | ||
| Creditors: Amounts falling due after more than one year |
13 | 1 135781 | 1 152649 | |
| TOTAL NKT ASSETS | K1,392,668 | K 1,390,192 | ||
| RESERVES | K 1,392,668 | K 1,390,192 |
| 3 | TURNOVER | ||
|---|---|---|---|
| Turnover received in the year: | 2021 | 2020 | |
| Residents' contributions Residents' services Appeal and grant income |
443,357 133,053 22731 |
433,965 132,617 36 541 |
|
| 599,141 | S 603,123 | ||
| 4 | OPERATING SURPLUS/(DEFICIT) | ||
| Operating surplus is stated after charging: |
2021 | 2020 | |
| Accountants' remuneration Depreciation of owned assets |
4,620 39,360 |
4,620 39,140 |
|
| 5 | INTEREST RECEIVABLE AND SIMILAR INCOME | ||
| 2021 | 2020 | ||
| Bank deposits | 432 | X 1,566 | |
| 6 | INTEREST PAYABLE AND SIMILAR CHARGES | ||
| 2021 | 2020 | ||
| On bank loans and overdrafts | 79 | 72 |
| MPLOYEES | |||
|---|---|---|---|
| The average number ofpersons employed | during the year, expressed | in full time equivalents | (i.e. |
| 35 hours per week) was: | 2021 | 2020 | |
| 2 | 2 | ||
| Administration | 9 | 10 | |
| Welfare | 1 | 1 | |
| Dining room | 1 | 1 | |
| Housekeeping | 13 | 14 |
| fll | ||
|---|---|---|
| Employees costs were as oows: |
2021 | 2020 |
| Wages and salaries Social security costs |
351,652 21,641 6206 |
335,003 21,305 5 590 |
| Pension costs | ||
| 379,499 | K 361,898 |
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Basic | salary | K | 107,631 | S | 102,280 |
| TANGIBLEFIXED ASSETS | ||||
|---|---|---|---|---|
| Social | Furniture | |||
| Housing Properties |
Office Equipment |
And Equipment |
Total | |
| Cost At 1March 2020 Additions |
2,700,735 | 51,316 1,055 |
239,364 2,563 |
2,991,415 3,618 |
| Disposals At 28February 2021 |
2 700735 | 52371 | 241 927 | 2 995033 |
| Deprecia tion At 1 March 2020 Charge for the year |
561,553 27,007 |
49,855 941 |
201,235 11,412 |
812,643 39,360 |
| Depreciation on disposals |
||||
| At 28 February 2021 | 588,560 | 50,796 | 212,647 | 852,003 |
| Net BookValue At 28February 2021 |
2,112,175 | 1,575 | 29,280 | 2,143,030 |
| At 1March 2020 | 2,139,182 | 1,460 | 38,129 | 2,178,771 |
| 10 | STOCK | 2021 | 2020 | |
|---|---|---|---|---|
| Stock of Christmas | cards | 731 | 931 |
| FORTHE YEAR END | ED 28FEBRU | ARY 20 | 21 | ||
|---|---|---|---|---|---|
| 11 | DEBTORS | 2021 | 2020 | ||
| Rent receivable Prepayments and accrued income |
34,221 17937 |
18,677 4918 |
|||
| S52,158 | K 23,595 | ||||
| 12 | CREDITORS: AMOUNTS FALLING |
DUK WITHIN | ONK | ||
| YEAR | 2021 | 2020 | |||
| Rents and deposits paid in advance Other creditors Accruals and deferred grant income |
8,416 1,534 45 210 |
6,148 6,827 40206 |
|||
| X 55,160 | K 53,181 | ||||
| 13 | CREDITORS: AMOUNTS FALLING | DUK AFTER MORE | |||
| THAN ONK YEAR | |||||
| 2021 | 2020 | ||||
| Deferred grant/donation income —various Deferred grant income —Social Housing |
Grant (Note 14) | 5,500 1 130281 |
7,730 1 144919 |
||
| X 1,135,781 | K 1,152,649 | ||||
| DEFERRED INCOME: SOCIAL HOUSING GRANT | 2021 | 2020 | |||
| 14 | |||||
| At 1March | 1,159,557 | 1,174,195 | |||
| Grants received in the year Released to income in the year |
~14638 | ~14638 | |||
| At 28 February | K 1,144,919 | S 1,159,557 | |||
| Amounts to be released within one year Amounts to be released in more than one year |
14,638 1 130281 |
14,638 1 144919 |
|||
| K 1,144,919 | X 1,159,557 |
| 15 | CASH FLOW FROM OPKRATIVING ACTIVITIES | CASH FLOW FROM OPKRATIVING ACTIVITIES | CASH FLOW FROM OPKRATIVING ACTIVITIES | 2021 | 2020 |
|---|---|---|---|---|---|
| Cash flows from operating activities Operating surplus from the year |
2,123 | 12,133 | |||
| Adjustment for non-cash items: Depreciation oftangible assets Decrease in stock Increase /(decrease) in trade and other debtors Increase/(decrease) in trade and other creditors Interest payable Interest receivable Purchase of tangible fixed assets |
39,360 200 (28,564) (14,889) (79) 432 ~3618 |
39,140 69 14,075 (12,068) (72) 1,566 i77247 |
|||
| Net change in cash and cash equivalent | (5,035) | 47,596 | |||
| Cash and cash equivalent at beginning ofthe year |
392725 | 345 129 | |||
| Cash and cash equivalent at end |
of the year | 387,690 | f, 392,725 | ||
| 16 | HOUSING STOCK | Units under | management | ||
| 2021 | 2020 | ||||
| Sheltered Accommodation— | |||||
| Number of Units | |||||
| Kpping | 12 | 12 | |||
| Single flat Customised single flat conversion Single bungalow conversion with |
bedroom | 2 8 8 |
2 8 8 |
||
| Double flat | 5 | 5 | |||
| Double bungalow Refurbished flat |
13 ~4 |
13 ~4 |
|||
| Total units | |||||
| 17 | OPERATING LEASES | ||||
| As at 28 February 2021 the Society had annual under non-cancellable operating leases as detailed |
commitments below: |
2021 | 2020 | ||
| Operating leases which expire: More than five year' s |
f768 | f768 |