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|||Pacae|
|---|---|---|
|Report ofthe Trustee|||
|Independent
Auditor's|Report||
|Statement of Financial|Activities|15|
|Balance Sheet|||
|Statement of Cash Flows||17|
|Notes to the Financial|Statements|18-27|
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|Value for Money Key Metrics||||||||||
|---|---|---|---|---|---|---|---|---|---|
||||||HfOP|||||
||||||peer|Housing||||
||||||group|Pathways|King|||
|i. Reinvestment
a/a|||||2020-21|avera e|Geo|eV||
|Considers the investment
in properties
(existing stock as||||||||||
|well as new supply) as a percentage
ofthe|value||of|total||||||
|ro erties held.|||||2.80%|1.47%|0 83o/o|||
|2. New Supply Delivered
o/o||||||||||
|The number of new social housing
and non-social|||housing|||||||
|homes that have been acquired
or developed||in the||year as||||||
|a proportion
of total social housing
and non-social|||housing|||||||
|homes owned at period end.||||||||||
|A. New supply
delivered
(Social housing
homes)|||||||Oo/o|||
|B.Newsu
i
delivered
Non-socialhousin||homes|||||orr/o|||
|3. Gearing
a/rr||||||||||
|Assesses how much ofthe adjusted assets|are made|||up of||||||
|debt and the de reeof de endenceon
debt||financ.|||1%|I P6%|5794||o/o|
|4. Earnings Before Interest, Tax, Depreciation,||||||||||
|Amortisation,
Major Repairs Included|(EBITDA MRI)|||||||||
|Interest Cover ir/o.||||||||||
|A key indicator for liquidity
and investment|capacity.|||||||||
|Measures the level of surplus
generated
compared|||to||||N/A-||no|
|interest
a able|||||478%|I265%|borrowin||s|
|5. Social Housing Cost Per Unit||||||||||
|The headline
social housing
cost per unit as||defined||by the||||||
|Re viator|||||E5415|E6000|E3562|||
|6. Operating
Marglnir/0||||||||||
|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
B.Operating
Margin (overall) after adjusting
and merger costs||only)
for impairment|||10.20%
13.40%|3.10%
8 080/0|15.71o/o
15,68o/o|||
|7. ROCE o/o||||||||||
|Compares the operating
surplus to total||||||||||
|assets less current
liabilities.
An assessment||ofthe|efficient|||||||
|investment
ofca ital resources.|||||246%|I 28%|1 20o/o|||
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|||||HIOP|||
|---|---|---|---|---|---|---|
|||||peei'|Housing||
|||||group|Pathways|King|
|Cost|er home|||2020-21|ayers e|Gear e V|
|Management||costs|||2,493|1,213|
|Service charge costs|||||816|301|
|Routine
maintenance|||cost||1,985|1,901|
|Planned
maintenance|||||||
|Major|repairs|expenditure|||706|147|
|Other|social|housing|costs||||
|Total||||E5,415|E6,000|E3,562|
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|Ke
Per|formance
Indic|ators||||||
|---|---|---|---|---|---|---|---|
||||||Housing|Housing|Housing|
|||||HIOP|Pathways|Pathways|Pathways|
|||||2020-21|2020-21|2019-20|2018-19|
|Current|resident
annual|WMC collection rate||100%||103.2%|103.6%|
|Current|resident arrears|as a %ofthe annual|WMC|0.9%|2.31%|2,73%|3.0%|
|Homes|with a valid Gas|Safety Certificate %|||100%|100%|1PP%|
|All reactive repairs completed
within target time %||||957%|81%|85%|86%|
|Emergency
repairs completed
within target time %||||100%|78%|79%|83%|
|Urgent|repairs completed|within target time|%|97.9%|78%|82%|84%|
|Routine|repairs completed
within target time||%|95%|87%|93%|89%|
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|||||Unrestricted|Restricted|Total|Unrestdcted|Restricted|Total|
|---|---|---|---|---|---|---|---|---|---|
|Income from|||Notes|funds
E|furlds
8|funds
6|funds
E|funds
8|funds
6|
|Charitable
Activities||||||||||
|Abnshouse
Accommodation
Investments||||57,188
9263||57,188
9263|55,701
10424||55,701
10424|
|Expenditure
on||||66,451||66,451|66,125||66,125|
|Charitable
Acuviues||||||||||
|Almshause
Accommodation||||45 408|2 796|48 204|37465|2 796|40 261|
|||||45,408|2,796|48,204|37,465|2,796|40,261|
|Gains/(losses)
on revaluation||ofinveslmenls|11|73,580||73,580|(13,913)||(13,913)|
|Netlncome/(expenditure)|and|net movementln|funds|94623|2796|91827|14747|2 796|11951|
|Funds brought
forward|1st Apnl 2020|||||||||
|Orlglnagy
stated
Pdor year adJustment
As restaled|||19|534,145
534,145|122941
122,941|53'I,145
122941
657,086|519,398
519,398|125737
125,737|519,398
125737
645,135|
|Funds carried forward|31st March 2021|||628 768|120145|748913|534 145|122941|657086|
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||||2021|2020|
|---|---|---|---|---|
|||||Restated|
|||Notes|6|6|
|Fixed Assets|||||
|Housing
Properties||9|212,202|217,636|
|Investments||11|415,377|336,485|
||||627,579|554,121|
|Current Assets|||||
|Debtors||12|3,353|2,658|
|Cash at Bank and|In Hand||138,275|142,967|
||||141,628|145,625|
|Creditors: amounts|falling due within one year|13|(20,294)|(42,660)|
|Net Current Assets|||121,334|102,965|
|Total Net Assets|||E748,913|E657,086|
|Funds|||||
|Unrestricted
funds|||628,768|534,145|
|Restricted
funds|||120,145|122,941|
|Totalfunds||16|E748,913|E657,086|
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|||||||2021|2020|
|---|---|---|---|---|---|---|---|
||||||||Restated|
||||||Notes||6|
|Net cash (used in)/provided
by Operating||Activities|||A|(6,879)|61,194|
|Cash flows from Investing
Activities||||||||
|Purchase of tangible
fixed assets||||||(1,764)|(2,388)|
|Proceeds on sale of investments||||||||
|Dividends
received||||||3,889|3,811|
|Interest received||||||62|225|
|Net cash provided
by/(used
in) Investing||Activities||||2 187|1 648|
|Cash Flows from Financing
Activities||||||||
|Net change
in cash and cash equivalents||||||(4,692)|62,842|
|Cash and cash equivalents
at the|beginning||of|the||||
|year||||||142967|80 125|
|Cash and cash equivalents
at the end ofthe year||||||1138275|E142967|
|A
Cash flows from operating|Activities|||||||
|Net Income/(Expenditure)
for the year||||||91,827|11,951|
|Depreciation||||||7,217|7,149|
|Investment
Income and Interest Receivable||||||(9,263)|(10,424)|
|(Increase)/Decrease
in Debtors||||||(695)|(26)|
|Increase/(Decrease)
in Creditors||||||(22,366)|38,195|
|Loss on Disposal of Components
(Gains)/Losses
on Investments||||||(19)
~73 580|436
13913|
|||||||I6879|E61 194|
|0
Changes
in Net Funds||||||||
|||Atoi/04/2020||||Cash Flows|At 31/03/2021|
|Cash at bank and
in hand||||142|967|~4692|138275|
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|Land|||||not depreciated|
|---|---|---|---|---|---|
|Main fabric|||||Over 70 years|
|Roof structure|||and|covering|Over 70years|
|Windows|ik|external||doors|Over 30years|
|Boilers|||||Over 15years|
|Kitchen|||||Over 20 years|
|Bathrooms|||||Over 30years|
|Mechanical||systems|||Over 30years|
|Electrics|||||Over 40 years|
|Fire Alarms/Warden||||Call|Over 15years|
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||Income from|Income from|Income from|Charitable|Activities|Activities|||
|---|---|---|---|---|---|---|---|---|
||||||||2021|2020|
|||||||||Restated|
|||||||||f|
||Almshouse||Accommodation||||||
||Residents|Contributions|||||53,278|43,737|
||Service Charges||||||4I226|11,964|
||Voids||||||(316)||
||||||||E57,188|E55,701|
|3.|Income from|||Investments|||||
||||||||2021|2020|
||||||||E|E|
||Deposit Interest||||||62|225|
||Investment|Income|||||9,201|10,199|
||||||||E9,263|EIOI424|
|4.|Expenditure||on Charitable|||Activities|||
||||||||2021|2020|
|||||||||Restated|
|||||||||f|
||Almshouse||Accommodation||||||
||Services||||||3,614|4,277|
||Maintenance||||||22,805|11,362|
||Bad Debts||||||31||
||Depreciation||||||7,217|7,149|
||Replacement|||of fixed asset||components|(19)|436|
||Support costs|||(Note 5)|||14,556|17,037|
||||||||E48,204|E40,261|
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|upport C|o|sts|||
|---|---|---|---|---|
||||2021|2020|
|||||Restated|
|||||E|
|Almshouse||Accommodation|||
|Management||charges|12,316|13,829|
|Bank charges|||50|58|
|Residents'|welfare||240|302|
|Governance||costs|1,950|2,848|
||||E14,556|E17,037|
|Excluding
VAT th|Excluding
VAT th|ese amounts|are|E1,625 (2020:E1,0|90).|||
|---|---|---|---|---|---|---|---|
|Social Housing||Activities||||||
|||||||2021|2020|
|||||||E|E|
|Turnover|from Social Housing||Activities|||57,188|55,701|
|Operating|Costs|||||(48,204)|(40,261)|
|Operating|surplus|and net surplus||from social housing|activities|E8,984|E15,440|
##
|costs charg|ed to the Charity
is as follows:|||
|---|---|---|---|
|||2021|2020|
|||E|E|
|Wages and|salaries|6,277|6,156|
|Social security costs||572|596|
|Pension costs||302|265|
|Redundancy||488||
|Oif-payroll|contractors|785|835|
|||E8,424|E7,852|
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|Housing
Pro|perties||||
|---|---|---|---|---|
|||||Total|
|||||Completed|
|||||Housing|
|||||Properties|
|||||E|
|Cost|||||
|At 1st April 2020||||275,054|
|Works to existing
properties
Components
replaced||||1,764
~566|
|At 31st March|2021|||226 252|
|Accumulated|Depreciation||||
|At 1st April 2020||||57,418|
|Charge for the year
Depreciation
released||on components|replaced|7,217
~565|
|At 31st March|2021|||66 656|
|Net BookValue|||||
|At 31st March|2021|||E212,202|
|At 31st March|2020|||E217,636|
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|apital Gra|nts|||||
|---|---|---|---|---|---|
|||||2021|2020|
||||||Restated|
||||||E|
|Aggregate|Amount|Received||||
|At 1st April|2020|||||
|and 31st March 2021||||E195,597|E195,597|
|Released|to Statement||of Financial Activities|||
|At 1st April|2020|||||
|and 31st March 2021||||E195,597|E195,597|
|Capital Grants Carrying|||Value|||
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|11,|Fixed As|set Investments||||||
|---|---|---|---|---|---|---|---|
|||||||2021|2020|
||||||||Restated|
||||||||E|
||Market Value:|||||||
||At 1st April 2020|||||336,'I85|344,010|
||Disposals|in year||||||
||Accumulated
income|||||5,312|6,388|
||Realised|gains on investments||||||
||Unrealised|gains/(losses)|on investments|||73,580|(13,913)|
||At 31st March 2021|||||E415,377|E336,485|
||Historical|cost as at 31st March 2021||||E140,817|E135,505|
|12.|Debtors:|amounts
falling due within|||one year|||
|||||||E|E|
||Amounts|due from residents||||2,052|1,558|
||Prepayments
and accrued||income|||1,301|1,100|
||Amounts|due from related|organisations||(Note 16)|||
|||||||E3 353|E2 658|
|13.|Creditors:|amounts
due|within one year|||||
||Accruals and other creditors|||||4,960|4,263|
||Amounts
due to related
organisations|||(Note 16)||15,334|38,397|
|||||||E20,294|E42,660|
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|34,
Fundc||For the|year ended|31stMarch 2|021|||
|---|---|---|---|---|---|---|---|
|||Galance at||||||
|Unrestricted
Funds||1Aprg 2020
Restated
E|income
E|Expenditure
E|Gains/(Losses)
on lnveshnents
1|Transfers
6|Balance at
31March 2021
E|
|General Funds
Ger/gusred
Funds||4&I,866|66,451|(45,408)|73,580||559,489|
|Cydicel Repairs and Maintenance
Extraordinary
Repairs Reserve
Restricted
Funds|Reserve|26,876
42 403
534,145|66,451|(45,408)|73,5NI||26,876
42 403
828,768|
|Rxed Asset Fund||122,941||(2,796)|||120,145|
|||E657086|E66451|E 48 204|173500||57WI 913|
|||Ealance at||||||
|Unrestricted
Funds||1Apru 2019
Restated
E|fncome
6|Expenditure
6|Gains/(Losses)
on invesunents
6|Transfers
8|Balance at
31March 2020
6|
|General
Funds
De$tgrutecl Fvrxfv||450,119|66,125|(37,465)|(13,913)||4&I,866|
|Cyclical Repairs and Maintenance
Extraordinary
Repairs Reserve
Restricted Funds|Reserve|26,876
42 403
519,398|66,125|(37,465)|(13,913)||26,876
42403
534,145|
|Hxed Asset Fund||125,737||(2,796)|||122,941|
|||E&I5 135|E66 125|E 'IO 261|E 13913||E657 086|
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|Net Assets Between Funds||||
|---|---|---|---|
||Unrestricted|Restricted||
||Fundsf|Funds
f|2021Total
E|
|Housing
Properties
Investments
Net Current Assets|92,057
415,377
121334|120,145|212I202
415,377
121334|
||E628,768|E120,145|E748,913|
||Unrestricted|Restricted||
||Funds
f|Funds
f|2020 Total
f|
|Housing
Properties
Investments
Net Current Assets|94,695
336,485
102965|122,941|217,636
336,485
102965|
||E534,145|E122I941|E657,086|
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