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2023-02-28-accounts

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 2023 2022
TURNOVER 650,895 587,141
Operating
costs		 589366 551 168
OPERATING SURPLUS FOR YEAR 61,529 35,973
Interest receivable
Interest payable		 2,985 210
~40
TOTAL COMPREHENSIVE SURPLUS FOR THK YEAR X64,514 K36,143

Income and Restricted Total
expenditure reserve
reserve
Balance as at 1 March 2021 1,392,668 1,392,668
Total comprehensive surplus for the year 36 14 36 14
Balance at 2SFebruary 2022 1,428,811 1,428,811
Total comprehensive surplus for the year 64 514 64 514
Balance at 28 February 2023 K 1,493,325 K 1,493,325

Notes 2023 2022
FIXEDASSETS
Housing
properties		 2,058,161 2,085,168
Office equipment 423 634
Furniture
and equipment		 96690 76 764
2,155,274 2,162,566
CURRENT ASSETS
Debtors and prepayments
Cash at bank and in hand		 10 70,399
4 1982		 92,129
37"228
502,381 465,357
Creditors: Amounts
falling due
within one year 5 979 71 645
NET CURRENT ASSETS 448 402 393712
TOTAL ASSETSLESS
CURRENT LIABILITIES 2,603,676 2,556,278
Creditors: Amounts
falling due
after more than one year 12 1 110351 1 127467
TOTAL NET ASSETS X 1,493,325 K 1,428,811
RESERVES K 1,493,325 K 1,428,811

Housing Properties 1'/d straight line
Office Equipment 20'/0 straight line
Furniture and Equipment 20/0 straight line
Integrated Features 10'/0 straight line

Turnover received in the year:
2023 2022
Residents'
contributions		 465,204 446,540
Residents'
services		 149,735 104,584
Appeal and grant income 36 966 6017
650,895 K 587,141
4 OPERATING SURPLUS/(DEFICIT)
Operating
surplus
is stated after charging:
2023 2022
Accountants'
remuneration		 5,100 S 4,855
Depreciation ofowned assets 45,902 X 45,903
5 INTEREST RECEIVABLE AND SIMILAR INCOME
2023 2022
Bank deposits 2,985 K 210
6 INTEREST PAYABLE AND SIMILAR CHARGES
2023 2022
On bank loans and overdrafts 40

The average number ofpersons employed
duri
(i.e.35 hours per week) was:		 ng the year, expressed
in full time equivale		 nts
2023 2022
Administration 2 2
Welfare 8 9
Dining room 1 1
Housekeeping 2 2
13 14
Employees
costs were as follows:
2023 2022
Wages and salaries 329,068 340,957
Social security costs 24,123 24,460
Pension costs —Defined Contribution Scheme 6 601 6 072
358,792 K 371,489
The Aggregate remuneration for key management personnel charged in the year is:
2023 2022
Basic salary X 77,491 X 108,742

TANGIBLE FIXEDASSETS
Social Furniture
Housing Office And
Properties Equipment Equipment Total
Cost
At 1 March 2022 2,700,735 52,371 307,366 3,060,472
Additions 38,610 38,610
Disposals
At 28 February 2023		 2 700 735 52 371 345 976 3 099082
Depreciation
At 1 March 2022 615,567 51,737 230,602 897,906
Charge for the year 27,007 211 18,684 45,902
Depreciation
on disposals
At 28February 2023 642,574 51,948 249,286 943,808
Net BookValue
At 28 February 2023 2,058,161 423 96,690 2,155,274
At 1March 2022 2,085,168 634 76,764 2,162,566

FOR THE YEAR EN DED 28 FEBRUARY 20 23
10 DEBTORS 2023 2022
Rent receivable 61,610 60,180
Prepayments
and accrued income		 8 789 31 949
S70,399 K 92,129
11 CREDITORS: AMOUNTS
FALLING		 DUE WITHIN ONE
YEAR
2023 2022
Rents and deposits paid in advance 5,573 6,689
Other creditors 2,518 1,954
Accruals and deferred grant income 45 888 63 002
6 53,979 j 71,645
12 CREDITORS: AMOUNTS FALLING DUE AFTER MORE
THAN ONE YEAR
2023 2022
Deferred grant/donation
income —various		 9,346 11,824
Deferred grant income —Social Housing Grant (Note 13) 1 101005 1 115643
S 1,110,351 K 1,127,467
13 DEFERRED INCOME: SOCIAL HOUSING GRANT'
2023 2022
At 1 March 1,130,281 1,144,919
Grants received in the year
Released to income in the year		 ~146 8 ~14638
At 28 February X 1,115,643 X 1,130,281
Amounts
to be released within one year
Amounts
to be released in more than one		 year 14,638
1 101 005		 14,638
1 115643
f. 1,115,643 K 1,130,281

14 CASH FLOW FROM OPERATIVING OPERATIVING OPERATIVING ACTIVITIES ACTIVITIES 2023 2022
Cash flows from operating activities
Operating
surplus
from		 the year 61,529 35,973
Adjustment
for non-cash		 items:
Depreciation oftangible assets 45,902 45,903
Decrease in stock 731
Decrease
/ (increase)		 in trade and other debtors 21,730 (39,971)
(Decrease) / increase in trade and other creditors (34,782) 8,171
Interest payable (40)
Interest receivable 2,985 210
Purchase oftangible fixed assets ~38 610 ~65439
Net change in cash and cash equivalent 58,754 (14,462)
Cash and cash equivalent at beginning ofthe year 373228 387690
Cash and cash equivalent at end ofthe year 431,982 K 373,228
15 HOUSING STOCK
Units under management
2023 2022
Sheltered Accommodation—
Number ofUnits
Epping
Single flat		 12 12
Customised
single flat		 conversion 2 2
Single bungalow
conversion
with		 bedroom 8 8
Double flat 8 8
Double bungalow 5 5
Refurbished
flat		 13 13
Total units ~4 ~4
16 OPERATING LEASES
As at 28 Februaiy
'2023		 the Society had annual commitments
under non-cancellable operating leases as detailed below:
2023 2022
Operating
leases which		 expire:
Two to five years f.768
More than five year' s