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|---|---|---|---|
|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|
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|||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|
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|||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|
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||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|
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|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|
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|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|
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|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|
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||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|
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|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|
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