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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|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|
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||||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|
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||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|
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|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|
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||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|
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|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|
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|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|
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||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|
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|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||||||||
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