BOCKING UNITED CHARITIES FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 REGISTERED OFFICE 29-35 West Ham Lane Stratford London E15 4PH CHARITY NO.212834
BOCKING UNITED CHARITIES FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 CONTENTS Page Charity Information Report of the Board of Trustees Reporting Accountants report Statement of comprehensive income Statement of changes in reseNes Statement of financial position 818lement of cash flows 10 10 Notes to the financial statements 11-20
80CKING UNITED CHARITIES CHARITY INFORMATION THE BOARD OF TRUSTEES D Mann D Smith M Pralchett Chairman- Resigned 09103124 Treasurer- Resigned 31108124 Ghairtnan - Appointed 22103124 C Felton- Resigned 29108124 P.Whipps- Resigned 30105124 P Brown M Moore The Reverend R Reid C Scolard- Appointed 30105124 S Warper- Appointed 30105124 C Woulfe- Appointed 2710fj124 REGISTERED OFFICE 2W35 Wesl Ham Lane Stralfoid London E15 4RP REPORTING ACCOUNTANTS Andrea Kaley Xeinadin South East The Old Grange Wairen Estate Lordship Road Writlle Chelmsford Essex CM1 3VWt 8ANKERS Barclays Bank PLC 1 Bank Street Braintree Essex CM7 1UG SOLICITORS Holmes & Hills Dale Chambers Bocking End Braintree Essex CM7 9AJ MANAGING AGENTS L&Q Living Limiled 235 Wesl Ham Lane Slr8ttord London E15 4RP REGISTRATIONS Charily Commission.. Regislrats'on Number Regulator of Social Housit¥J '. Registered number Almshouse Number 212834 A4038 M470 Page 1
BOCKING UNITED CHARITIES REPORT OF TrEE BOARD OF TRUSTEES AND STATEMENT OF RESPONSIBILITIES YEAR EMDED 30 JUNE 2024 Board of Ttuslees present Iheir report and Ihe audiled fin8nu81 statements of Boc&ing United Charities Ilhe Charity) for the year ended 30 June 2024. Prfncipal Activity Bocking United Charities & a reoisierÉd charity and a RÈgislered Prov[. 01ng property al Bocking Mtnhouses, Deans Walk. When consKJeriw the aims and objeciives of Ihe Charity the Trustee5 have referred lo Ihe guidance issued by the Charity Commission In respect of public benefil. The Charills primary purp05é 15 to provide accommodalion and support lo Ihe ekledy and lo adv115 wrilh learning difficullies in Bocking ènd Ihe surrounding area. The Charilws Scherne also enables the Chaiity 10 3ppty funds more generalEy for Ihe benefit of eillier poor or deservinè netsssilous person$ in the BoGking area. In meèting its objetlives. the Charity may assisl individua18 in need in the Bocking area by lelliry property. and contrbuling lo Ihe COSI of services 10 5UPPOrt Ihe heamh and ElIbeing of Ihose indiwduals. All of the chari18ble 3clivilies focus on the prowsion of housing accommodalion and support semces wlhln ihe Charily's 21 unil127 bÉdsl scheme in Bocking. and are undertaken lo further the chatilable purposes for Ihe public benefit. Results and revlew of tha year, and fiJlur& d•v•lopment8 The Charity m8de a surplus for the ye8r £17.57312023.. defiul £42.1881. Thp re5dl after pr(werty and investment revolualion is profil of Idefial £288.953112023'. defiul £36,165). L&a is stepping batk from thè provision of regi51Èred care services. Moving forwatd Bocking Uniled Charities wll assume rÈsponsibilliy forbolh housing and the delivery of ¢are and support services. The Ttustees Ilke to expre$s lheir$Inre gralilude lo L&0 for their valuable contributions and unwavering support Ihrouuhoul the years. To enhance ihe efficiency and acce8sibilily of our tAre servi, have implemented 8 new care manao8m8nl syslem Care Beans. Furfhermore. have Iransilioned lo online banking. making paper cheques a relie of Ihe past. In response to recenl changes, ore de1hle to welcome six new liuslees lo the team. Twslees conlinue lo pay wriicular allenlion to the care and m81nlenance of the buhjings, especialty the listed Alms Houses. Trvsi¢es ¢onlinue to build ielalionships vAlh local ci8flsMen lo ensure sympalhelic and economical rep8irs are c8rrieLI out vthe neccessary. Board Members The Members of Ihe Board of Trusi8eÈ during yÈarended 30 June 2024 were as follo". P Browi M Moare C Fellon- Resigned 29108124 P. Whipps- Resiqned 30105124 The Revend R Reid C Scolaid. Appointed 30105124 S Harper- Appointed 30105124 C Wwlfe- Appoinled 27106124 Chairman". M Pralchell- Appointed 22103124 Chalrman.. D M&nn- Resigned 09103124 Treasurer.. D Smith- ResigrEd 31108124 P¥e2
RÉPORT OF THE BOARD OF TRUSTEES AND STATEMENT Icontinuedl Tha Trustees are sponsIble for preparing Trustees, r8POrt and the financial statements in accordance with aptyicable law and regulatK)ns. In preparing those financial slalemen15 the Commillee is required lo..
seled suitable finÈncial polides and apply them con$lstentty', makeiudgÈmenl$ and èslim8t6s that ara reasonable and prudenl-, follow applicable United Kingdom Accounting Sland8rds and the Housing SORP 2018 ppa Ihe finantt81 slaiÈmonis on a going coneern basis, unless il is inappropriate lo presume that the Charitymrill not continue in business. Th8 Board of Trustees is responsible for ensuring that arrangemen15 are made for keeping piopei 8CCOUllting reGords whl disdose with ressonab 3ccuracy 31 any lifne Ihe financial p0511ion of the Charity 10 enable them lo ensure Ihal Ihe financial $taiemen15 cornply wlh Ihe Chaiitls Act 2011. the Houslng and Regeneration Act 2008 8nd Ihe Accounting Direclion for Private Registered Pradets of SocAal Housing 2019. 11 is responsible for mainlsining a salisfaclory system of conliol over Ihe aGcounling records and Ir8ns8Ctions 8nd lor saleguar(5ino the assets of the Charity and henGe for l)king reasonablè steps for the prevention and deleGltoD of fraud and other irguIalltl@s. Internal tlnanclal control The Board of Twslees is responsible for the Charills sy5tÈm of internal financial conlrd. Although no sysiem of internal financial Goniiol can provide absolute assurance agalnst M2teriaS misslal8m8nl or1088, the Chaiills system is designed lo provide Ihe ommiiiee th reasonable assurance Ihal problems are identified on a timely basis an(f dealt wilh approprialety. Ihal assets aré safeguarded against unaulhoiised use or di5posilion, Ihal proper a¢UntIng re¢ords are malnlained., and thai the financial inforrnalion used wlhin Ihe Charity or for publication is r8liable. Governance Code In May 2018 the charity adopted a new Code of Governance- the Charity Governan¢e Code. An analysis of the new Gode has been undertaken and there are currenllytwo areas where the board is not fully compliant.. Section 4.6.4 which requires boards to regularly consider Infomialion from other similar organisalions lo compare or benchmark thÈ organisation's performance. Given the Charity's specialist nature there have been dTfficullies in identifying a simllar slzéd organisalion lo benchmark against. Section 6.5.1 and 6.5.2 v4hich raquir&s Ihat plans are in place to monitor and 8ehieve the board's dersY0bJect[veS ané publishes the sl8PS taken lo address dn18rsily and accessibility of the board. Given the Size alld detnographic of Ihe IoG31 arÈÈ the board feels 11 is representative of the aa itwotks in howeverthLg 1$ an area we continue lo réviewwhen opportuniti88 to re¢ruil 10 thé board arise. All re#$onable endeavours 1$ be made to ensur& that identified gaps wll be addressed during the coming year. Page 3
REPORT OF THE BOARD OF TRUSTEES AND STATEMENT Iconllnuèdl Value For Money IVFMI VFM Isaboth achhwlng th8 des outc(m8$, forth8 co81 FM Is definAS geitlll9thé Dghl balanc8 of inpu1$, pr(u$s 9nd OLrtc¢m95, a8 des& bythg3 E$.. Econorny rnlnlmtsing Iheresoutces requir8d-, , EftEncY to accpsh 50mBthing ihe alWae 0111mB andellart, . EffÈttNenBSS." retlShIp thp inlendBd and Jth£lresutt5 Thp gockin9 Iknttgd Ch8Trli8$8nd L&Q Lfving Llmlled. bea Ihe con1r0 Ihat are reqthred con1810r1foI0&eabftvrfj. T TruYteÈ$ pèrfem¢è SPE KPI$, $uth as rÈnlaffes. vdIO$s, r8p4rg. The nnonekal perfcm3n¢e K•ich m885urtsthè adu41 c4$t a98in$i Ihè 8oreed budtri 4Gorevlemd quarteity. Glven iho 9¢1[1¢ n£wreof InèhOUSing $tock, otU CharMy.ICWherwtth it9 gtiend Ioc4tth. Tfu91ee9 conshleith enter Inio Ihe mahagemeni £irangerneni L&0 Llvlng Limtted Isthe be% olensLlni ¥alJef¢r m(theyloralstBkeh0kJe d, most pan]uav, Charllls red¢ni6. Measuring valuo for money Lkndwthe'va0 lor 2018" Issued byth8 addttlonalm8awT8S réqulT8d lo b8 ropartednUty bylb8 Cth8rhy3r¢'. 2024 2023 Reinv¢8tnYnt NewSupttyDelverÈd ISoGd HOu$kn¥J Unit$l New SupKtyDÈNvered {NOn-&1 H$19 units) % Se EBITOA MRI Iniert91 Headllne Sociol Housing C061 Per ikn operat m1n Isociallhwslng18#Sngs only) OpBratuy MgIn loveralll Retum ¢BPito1 ThDYed IROCEI % 0.0 0.0 NIA NIA È 6,1>44,54 £ 6.616 00 S.tsB% -27.5P 5.38% -27.57% 0.39% -1.5 NIA The reinverneni Meiiicboks 81 the Investment piopenies as 3 perlEe11he vakne oftoial piopenies he ai Ih•end ollhe yar. The Charitsls roinvesimeni perceniago Is Nn-{2023'. Nlil, tbe nl1w5tt 5sasa rosul of nola10r¢cffiP0nInt rgLJt4d bskng ¢oThWeied In the yew. Tho newuppeS¥ meirrcsel$ outth¢nuMkr of new1wbQ$m andnoi-swolhou$fvJ unitslhat b8on ocquired ( devPd ID lh8 y6Eras & Proport oltol81 socialtwsing rtOnd non-so¢iglhousitwJ at PeTElld end. Th15 m6trfc 18nil for lh8 Chaiilyas devEbpmEnl ofunils uulsnlantoak pl&ce In lh& year. Gear9 as¥osseyhowmuch ollhe adjusled ore madg up oldobl Ihodegi¥tsoldepondoDttoon debt1baCe. It iyotten k¢yindK8tor ola reglered mideffSaPPBtite forgiu&lh. The EBITOA MRI I1e51 cover measure Is key Inditaitr l< Iquldily and investmenl cepacity. It seeks lornessure Ihe af suipkps thai a rryislered prrydÈr oenerÈS Compkns io Intete$t payle.. Ihe me&suie Avolds anydk5lM$ stemminp Ir4mihè d&tn chBige. BLth oiine9e mrixwe n ppIGBOklOlhe Chaitty85 lh donoi havt any lèdlrties. The Cknètii4$ hEEdlnè•pwÈtiYJ CO per$4¢idhou3ino ¢0.{M4.54-12ts23 t6,616.> p4e4
REPORT OF THE BOARD OF TRUSTEES AND STATEMENT {continued) Measuring value for money cont'd The Charills operating margin is 5.380/0 12023.. -280/01. The operating margin demonstrates the profitability of operating assets before eXpIloal expenses such as gainlloss on fixed asset disposal. The positive margins refle¢l the operating sulplus in the current year . The operating margins (social lellings only and overall percenlagesl are the same results as Ihe Charity has no other lumover except social housing activities. The relum on capital employed IROCEI indicates how well the Charity makes 8 financial return on its assets. This Charity's ROCE is 0.390A .12023...10A I. Compliance with Regulator of Soclal Houslng's Governance and Flnanclal Vlabllity Standard We have undertaken a review of compliance with the Governance and Financial Viability standard, which has been considered by the board. In our view, we continue lo meet the standard. Going concern The Board of Trustees has a reasonable expectation that the Charity has adequate resources lo continue in operation for the foreseeable fLJture. For this reason. they continue to adopt the going concern basis in preparing the linancial statements. Reporting Accountants The Reporting Accounlanls, Xeinadin South East, will be proposed for reappointment. By order of the Board of Trustees M Pratchett Chair Page 5
OCKING UNITED CHARITIES REPORTING ACCOUNTAPITS REPORT FOR THE YEAR ENDED 30 JUNE 2024 A¢countants' wport tts tha mombars of Bocklno Unltèd Charltl88 We report on Ihe èccounl8 for the yearended 30 June 2024 Sel oul on pages 6-20. RespEclive re8pon8ibilitie8 OF the Board and Independent Reportlng A¢¢ount4nt The Board of the Reglslered s181 Houskno Provider 55 r05POn51Ne for pParatI of IhÈ atttounts, and Ihey conskS&rthattht R8olsier8d Sorjal Houslng Piovider is exemptfrom 8n 8udll. 11 is our reswnsibilty Io Gatryoul procedures designed lo enalAe us 10 report ouropinion. Ba$18 of oplnlon Our procedures consisled of comp31ing Ihe accounis wilh Ihe books of accounl kept by Ihe R&oisiered Social Housino Proer maklng such Ilmlled enquiries of the officers of the Reglstered SOCHI Housing Pro¥lder8s we eonshsared n8cessary for purpos8 of thL% report. Th8se woc8dures prov8 Ihe assurance expressed in our opinion. OplThloh the attounts for ihe year ended 30 June 2024 8re In accordance 1h the accounling rec(Kd5 kepl by Ihe Regislered Sorial Housing Provider under paragraph 13512llal of Iha Houslng and Regenerallon Act 2008. hawng regard onlylo. and on Ihe basis of. the inlormaliofi containÈd in thé accounting r8coth.' -the accounts comply with Ihe requiremenis ol the Charities Acl 2011.. -IhÈ Regislered Soaal Houslng Provldtr ha$ satisfied the ¢ondilion forexempllon fEom an audilollhe accounis forlhe year ended 30 Junè 2024 specled in SÈClion 136181 ol tho HosIng and RÉgtnèr21ion Act 2008., . the accounts complywilh the requirernenls of the Housino ReoenÈraiion Acl 2008 and th8 ACCOUnn0 DSreclon for pilvate registered provthrs of s(¢1 housing England 2019. AndrÉ8 Ka Xeknadin South Easl The Old Grdngè Warren Estsle Lordshlp Road Writtle Essex M1 3wr Independent Reporfing Accountants
BOCKING UNITED CHARITIES STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 30 JUNE 2024 2024 2023 Notes Turnover 217,194 166,388 Operating Cosls {205,517) 1213,165) Operating Surplus I deficit 11,677 146,776) Interest receivable and similar income 5,896 4,589 Surplus l {defi¢itl on ordinary activities before laxalion 17,573 142.188) Tax on surplus on ordinary activities Surplus I Ideficit) for the year 17,573 142,188) other Comprèhènstve Intome Revaluation 14 1286,5261 6,023 Total Comprehensive Income for the year {268,953) 136,165) On beh81f of the Board of Trustees.. M Pratchett IDLS Page 7
BOCKING UNITED CHARITIES STATEMENT OF CHANGES IN RESERVES FOR THE YEAR EMDED JO JUNE 2024 Rovenue DIgnated rèsèrvès Rovaluatlon Totol Al 1 July 2023 Profil for the year Revaluation 979,417 17,573 78,769 1.992,963 3,051.150 17,573 171.6741 171,6741 At 30 June 2024 996,991 78,769 1.921,289 2.997.049 Page 8
BOCKING UNITED CHARITIES STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2024 Notes 2024 2023 Tangible fixed assets Tangible fixed assets Investments 2,684,873 193,765 2,878,638 2,798,372 177,881 2,976,254 10 Current Assets Debtors Cash and cash equivalents 51,266 81,631 42,648 48.242 132,897 90,890 Less.. Creditors Amounts falling due within one year 12 {14.4871 (15.9931 Nel current assets I Iliabilitiesl 118,410 74,896 Total assets less curront liabilitl•s 2,997.048 3,05q,150 ReseNes Revenue Reserve Designated Reserves Revaluation Reserve Total ReseNas 996,991 78.769 1,921,289 2,997,048 979,417 78,769 1,992,963 3,051,150 14 On behalf of the Btsard of Trustees.. Pratch•tt Page 9
BOCKING UNITED CHARITIES STATEMENT OF CASH FLOWS FOR THEYEAR ENDED 30 JUNE 2024 2024 2023 Note CH5h inllow from opeiations Corporation lax pa 15 95,900 36.039 Net cash inflow from operatlng a¢tlviti&s 9S,900 36,039 Cash flow from Investlng a¢tlvrti Purchase of fixed assets Interest received Transfer from inveslm8nl 168,4071 5.896 169,1481 4.589 Net ¢a$h inflow from I Iu88d inl investln9 8CtivltiÈs 162.5111 164,5591 N8t InCTease in c88h and cash equivalents Cash and cash 8quivalenls al the beginning of Ihe year 33,389 4B,241 128.5201 76.761 Cash and cash equivalÈnts at the end of the year 81.630 48,241 Page 10
BO¢KING UNITE DCHARlnES NOTES TO THE FINANCIALSTATEMENTS FOR THE IEAR EWDED 30 JUNE 2024 1 PWN¢IPAL ACCOUWllNG POUCIES The fo11th% Con$iÉndyfrun<wflnana yoarto anothér83?&11Vfilh IW)g C61dr0d be rel4Wtsn tathaffanc& sLManls0tB(Eg iled Chsdtie¥ltheChlty). been pi8p8rod undorthohisioTicd cosl Copy[rn I)ttrdcè1h Fks 102 Tho Report19 ÉppNcaNè th6UKand Republi¢of IFRS IOZI, 4iid InÈ SORP 2018 Slalemertof RecomMendÈd Pr£¢¢10t¢e0I5lréd CIal housSng prOer3<HOuS1 .8ORP Z018), 8n4 AccouThtsng RequiiemertstrP(Nale Aw5Wd pl4$r$ ¢lS¢¢141 s120100heACtr DirelOn). The Ch4iity'sple¥tslTrr¢Y & Gre•1 Pounds preseDlp6 In Th8 prop&r80 of Ihv finkw41 slÈnl<9 h ¢¢Mple FRS 102 réqukes Iho Use of ¢ni414¢¢tyAn9 BsUmalg&. 11 aso thp ChBrftyS mAM9Èmenl io appivlw the Ub0 wll¢l45. Th highBr degTee of lud9qffl Dr comphxty. ¢r ar Vthe[eSufflpll05d timles &re4nffiWltts eMen15 are digcknsed Inn(Qe Z. Ètsn¢Èrn Chartlls Bo h4s4resson4Èè¥Prth thal lh8 Chartty has adequale re50ur¢e$tO Conllnue in ¢p0rafj •thslence IOF tre lo1e5eeab lulure. Th?¥e s10nL$&re prrett b&5. Tumovér T[rO@S1rentsl vK0mp{recee nel rent l¢s¥¢$ Ir(fft Wjldsi, other SeThceS Irduded atthe rnwmred vdue lexdudifvJVATI and yepthces swpliedin Ihpyg, Itv¢wo 0119 receIv4t1theyead ¢apltsl eianis. R•v¢nu• r¢coonltlon DonE113 eleC[ls¢dWhenthecQdi1j¢D$, Ilanv, Iwrecdlpl havebeen mel. HO4]19 propèYtK•s HOU9 ate pity?tht$ av•labk• rént. piopqrnBs sre Inl114ty ai t. Thè prop85 ale Ihon 18valued every tr¢ year$. stadn9 Ihem al falrwdlue althe dale Df le$g8ny depiedationand SUbgewe attum1aied imPaiimanllosse& Iri1 c1 rec0will indudes Ihp cg51 ol ld bulldings. developTh cos1¥, iThtiiEyl Gharocs dunng the developmenl period ew¢ndittys Illcurred lrt respect of wrwiovemeTrts which h&Vt rtr$u11e¢ In an écoMfAlllc ben&fil io thp Charity 35 wel £$ dr[¥dly Irlual 0[had costs aThd 09Wr14¢O&Tr nÉwd8vékymanls, caMpL¥1h9. Thetrvaiug ol IhÉ propirtlessre delenTMned by Bpptalsal vul on Ue• basls bypr0lp.s&n8I Yu3. Dopr4clatlon ofhouslng proporttès The C4•X¢OJtsig l¢r ils expdIlre on housing propertiey U5g 4£tttsunUIl9. A propgrty Is dlthde Into those en1$ aréconsldered lohavegub51anN&llythwerertts5elLI etw1C Ilvas. Tfresecomponenls eledepreBIed 0verlhp.lrd1Sid economIcve ThecompOr9 Identi bythQ chILynd 1helrrgspoctiUsc00MIC IlvÈS¢ 49fd. cMPOOnt .%tsu#ure Ichen3 SO Ye3 20¥e$ 15YeEf3 Wfjrinv FAthiooms Hea15 Ro( 30Y Soyaars Yèats 3DYes a separate idothfled de41¢ an plenY ieplaced. vÈiue Olth•MMp0n Is wense6 and Ihe cost atthe replMen1tMptsrt1 C4PrWi$Èd. ExpeThLiWI&OTh iléms sèp¥alèly Idenlllled aietsll8lis¢d IThanIrLr8Selte ThEirenk4 s1[en0Ver11l1¥ofknèprerfw. ¢vtrr IhDstBTh&ard aiknTr8l5es3ednlhp propertywasfiisl acqulred QFcor15tsed. Fr•8hdd lalIsn05 dep[ealed. Oth•rfixod agBots4nd dOPtIoN Olherfixe6 as&els aifj staled alcosl |¢sg dNda0Th. Deal)lS ¢IWyed fQt&full yèÉr brt Iho yèBrof acqulslllon I1b&s r•)thargé 5n1Yo310l[spOSaI.ThpIlnpl annuFA Fhieg usad lo1¢14Sstt1& seclY LlghlSnD OrV4¢1È¥ 25% 25% Pag*11
PRINCIPAL ACCOUNTING POLICIES (¢Qntlnvèdl Impairment of tanglblo flxtrd a$$ls T8ngibk fixèd assels Imainly housing propertl&s18re asges9ed lor Indicators ol Impairment At e£ch rewrnng dgle. Indicaioi8 are Identified $ delailBd &8sessmenl is IheTh undertaken io determine Ihe asseis or 6 oener8iing units ICCUSI iecoverable amount. The recoverabl8 arnounl will be Ihe higher ol fail value less c0515 lo sell. or Exisling Use Valuation lor Social Housino IEUV-SHI, Of V8lue In U3e ljn rospecl ol assets held low their sewvice polenliall {VISpI. As allowed by Hourng SORP 2014 Ihe Charilv uses Depreualed ReDlacem8nl Cost IDRCI ag a reasonsblè eallmaie 01mSP. Wr6 the amount ol an asset or CGU Is deèmed ils racovergNÉ amouni. Ihè Éxe£ss 111 bè rèco9nis&d in ihe Inc(w& and Expendilurts Account. Flnanclal as$$ Basic finanu81 assets. Indudiny EnaAI deblor5 and otr debtors, Gash and bank baLe5. ar8 inilialty reGogn158d al Iransaction prrce. unles5 the arranoemenl conAlituiès a financing Ira$3¢110n, whére Ihe Iran5aCtion is measured al the presenl walue ol Ihe lulvTe receipts discounted al a mgrket Y&iè of inlf r6sI Such assels af9 svbsellueniiy carried ti amorfised cos1 usirtg th& fllo¢iiv8 Interest ffleihod. Basic fi131 Inslrumenls. Includlng tradè ana Olh8r credir$. $nd bank bang, are initially r•nisd ai Iransa¢iion price, uDles5 th9 arrangemenl consliluies 8 financing Irans¥11. where Iht in$irum¢ni Is measur8d ai presani valu8 of Ihe luluro paymtnis dis¢ounled at a Tnarkel fate of Inleresl. Capital Development Grant Capilal Developmeni Grani received In respect ol ¢ompl&iéd properti&$ ai 30 Junè 2014 ha$ bÈén 8¢couMéd lor uslw tha perform8nce model. In 8pplyino ihis model, gu¢h groni hos been presented as Il Il re oiiginally reLognis¢d in Ihe Income and E¥p6ndilur@ Account in the veaf il reeeivatle. efid Iherefoie h8s in¢luded in 0h1 fotward Re¥Ve R¥8erves. eapii£l Developmeni Grant 18 ropayable in cert81 ClTcumslans. pritnafily folloing the sale of £ property. Where grant become5 repayable. a 118bility Is crÈai8d by tharging thé sutplus on disgosal lIh Ib& value of th¥ graDI lo be iepaid. Taxallon The Chariiy 1$ exempi from iaxon il% tharilable activities. Cy¢lical mainlenance To ihe exteni that it Is probabla Ihal wll be fulty ulili58d over Ihe course ol th8 low year mainlenallc8 Cyc, Ihe 8mounl of Ihai lundino Is malntsined In a tytli¢al mainlenance deswnaled [eseD. Emergèncy repai18 Tha emerg&ncy repairs rÉswv¢ Ippr6sen15 ihe proportK)n of funds deemed lo be 5ufficienl lo cover the exp8ndrture required lo repl8ee or relf items svch as b¢iler$ Ihai may breakdovm or need repEifing unexpBcledly. Page 12
BOCKING UNITED CHARITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 2 CRITICAL ACCOUNTING JUDGEMENTS AND ES.TIMATION UNCERTA5NITY Icontlnuedl The preparation of financial statements in conformity with FRS 102 requires th81 management to exercise its judgement in the process of applying the Charity's accounting policies. Estimates and judgements are continually evaluated and are based on historical experience and other f8¢lors, induding expectations of future events that aré believed to be reasonablè Ljfider the circumstances. lal Critical judgements in applying the Charity's accounting pollcles il Determining whethèr an impairnient rèvlèw is required Detemining whether there are indicators of impairment of the Charitls tangible assets requires judgement. The following are considered to be indicators of impairment, bul other events may indicate that an impairment review is required.. A change in govemment policy. regulafjon or legislation., A reduction in demand for a properly (eithèr by type or location, possibly èvidenced by increased voids)., A reduction in the market value of shared ownership properties". and Obsolesnc8 of 8 property li.e. il is planned to regenerate the property by demolishing it). lill Tho group of asset5 that ¢onstitutes a cash generating unit for impairment tèsting Judgement is required when determining what the srnallesl identifiable group of assets that generates cash flows th8t are largely independent of the cash flows from other assets or groups of assets. Ibl Key a¢countSng estimates and a$sumptlons The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates will by delinilion, seldom equal the related results. The eslimale5 and assumptions that have a s1gnificant risk of causing a material adjustment lo the carrying amounts of assets and liabilities wlhit) the next financial year are as follows.. 111 Useful economi¢ livas of tangible fixed assets Tangible fixed assets are depreciated over their useful lives tsking into account residual values, where appropriate. The annual depre¢i8tion charge for tangible fixed assets is sensilivo to changes in the estimated useful economic Ilves and residual values of the assets. The actual lives of the assets and residual values are assessed annually and rnay vary depending on a number ol factors. In re-assessing sset lives, factors such as technological innovation, product life cydes aftd maintenance programmes are taken into account. {111 Impalrment of debtors The Charty makes an estirnale of the recoverable value of tenant and other debtors. Whan assessing impairment of tenant and other debtors, managemgnl considers factors indudSng the ageing profile of debtors and historical experience. Page 13
80GKING UNITED CHARITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30JUNE 2024 PARncuLARS OF TURNOVER AND OPERATING SLIRPLUS 2024 Op8rating Operating surplus costs Turnover In¢orne and Exp&ndilur8 from Lettings Manag8menl servi$ 217,194 1190,1801 115,3371 7.014 115.3371 217,194 1205*171 Iq,677 2023 OpÈratFng Net surplus TrnOvaT Costs I Ideficitl Income and Exp8ndilur8 from Lettlngs Man3gernenl services 166.388 1203,8961 19,2691 137,5071 19,2691 166,388 1213.1641 IA6,7761 TurnoveT from Lettings 2024 2023 Rent5 receivabl& n81 of identffiabl¢ servlce charges Service charge income 1150.6701 176,2131 1134,8161 137,3551 1226.8831 9,689 1172,171 5,783 Losses from voKJs Total turnover from lèttlng8 1217,1941 1166,3881 Operatlny Costs from L4tting8 2024 2023 Housing aG¢omrnodation Management Routine rnaintenance Depieciation of hoiJ8ing properties Decrease in bad debt provision 70,513 24,283 94.348 1,036 63,204 25,047 92,826 2,720 Total operating c08ts from lettlng$ 190,180 203,896 Pagè 14
8OCKINGUWITED¢HARITies NOTES foTME FINANCIAL STATE¥BNTS Iconllnupd} FOR THE YEA8 FNDED2Q JUNE 2024 KEY MAAAGEMENT REMUNERATION Fu Ihe (poSe oflhi3 dO$e KeybIaMentareder1ned as m8mbersoflhe CrMuThttep ol M¥nagen*nt. 2024 202J Remunetalk Expen8$$ EMPLOYEE INFORMATION No p81s¥were employed al any btneduring Ihty8¥ tylhe C[l{2023. nor)o1. INTEREST RECEIVABLE AND SIMILAR INCOME 2024 2023 other 5.89B 4,589 489$ 4,581 SLIRPLUS ON ORDINARY ACTIVITIES BEFORE TAX 2124 2023 Is slated aRertharging I {creditingl-. DepIeu8lh o[housg mpÈrtles Depreciatsm olotheriarwJlLI? fixed asseig Auditois. reMunPratTr Iindudinq VATI-. for lh[ awJilotlh&fmanu StatMentS 94,31B 22& Page 15
BOCKING UNITED CHARITIES NOTES TO THE FINANCIAL STATEMENTS Icontlnued} FOR THE YEAR ENDED 30 JUNE 2024 TAXATION The ¢harily is exempl from lax on its charEtsble 8¢1iiqties. Page 16
BOCKING UNITED CHARITIES NOTES TO THE FINANCIAL STATEMENTS Icontinuadl YEAR ENDED 30 JUNE 2024 9 TANGIBLE FIXED ASSETS Housing properties Security lighting Motor vehicles Total Valuatlon I Cost Al 1 July 2023 Additions 3.071,344 68.407 3,990 9,780 3,085,114 68.407 Disposals Revaluation 1302.4101 1302,4101 At 30 June 2024 2,837.340 3,990 9,780 2,851,112 Accumulated depreciation Al 1 July 2023 Write off Structure Depreciation Charge for the year 272,971 3.990 9,780 286,741 1214,8511 94,348 1214,8511 94.348 At 30 June 2024 152,467 3,990 9,780 166.237 Net book value At 30 June 2024 2,684,873 2,684,875 AI 30 June 2023 2.798,372 2,798,373 Page 17
BOCKtNG UNITED CHARITIES OTES TO THE FINA14CIAL STATEMENTS IroTsljnuodl YEAR ENDED 30 JUNE 2024 10 INVESTMENTS Li8ted Investment ValualKin 85 al 1 July 2023 Revaluation Transfer lo curTent account 177.8B1 15.8Bd At 30 June 2024 1gJ.785 An$9 of InvestM6nts 2024 2023 Invg¥lmenllunO poffrfol 193.765 177.881 Totsl charity fj93,705 177,861 All investments ar? he in Ihe UK. The historical cost of the invesim&nig 6 £55,059. DEBTORS 2024 2023 Rent And 58The chBrye grrèats Le55". provision for bad debts Y2.639 13.6651 B,J89 14M52 Ofherdeblors 42.877 27,796 51.266 42M48 12 CREOITORS.. arnounts lalllng due wlthln Djlè YA8 2024 2023 Prepah* ranl Olhar ¢reditoB and a¢w81$ 9.976 4.61 9,87S 6,118 14h8¥ 15,994 13 OESIGNATED RESERVES At 1 Jvly AI 30 Jun9 2023 in the year 2024 Cyclical rnainlenan Efflergency repairs Furnbture and white good5 Enhan¢em$ni 56.$55 56,655 3.829 2.524 3,829 2,524 78.769 78,769 Peg9 18
BOCKING UNITED ¢HARITIES NOTES TO THE FINANCIAL STATEMENTS leoniinuBdl YEAR ENDED 30 JUNE 2024 14 REvuATIoN RESERVES Total Proporty At 1 JY 2023 R8valLrtion SuTpbJ$uLos$i in Ih#ya8r Accumuldl&1 DepreLialton wioff 1.870.139 122,824 1S0 1.992.963 (286.5281 214,851 214051 At 30 June 2024 1,782,680 138,708 1,921,288 15 NOTE TO THE STATEMENT OF CASH FLOWS 2024 2023 Surplus IldefiEItI foiih• finetkclal year Tax8lion forlheyeai 17.573 142,189) Surplu¥ I Id•fidll forth& Ilnanclal yearbefor9taxJtlon 15096) Owratlng surplus Ildeficlti Depreciali Oncreasel I deciease In debtors (Dec3¢) lincred9e ill ctwJitot& 11,671 92,828 {15.1841 Net cash Inflow Irom opAratln9 act1&$ 8S,900 36.039 16 CAPITAL coMMrrMENTS 2024 2023 ExndIlUre Ihal has been Gonlracted for but h¥¥ rhot been prOVed lor in Ihe si¥iÈnts ExpenlIre IhBI has been aulh0ri5ed by the Commiliee ol Manageme1 not yet been eonlracled for P£9* 19
8OCKING UNITED CHARITIES NOTES TO THE FINANCIAL STATEMENTS lcontinuedl YEAR ENDED 30 JLINE 2024 17 CONTINGENT LIABILITIES The Charity has a conling&nt Iiabillly In fft5pect of Capital Developm8nl Grani$ IGranl$l that have been released to the Income and Exp&nditure Account through the perfom3nce mLwJel. A liabililywill b8 recA)gnlsed whèn a propertylhal was funded by way of Grant Is disposed. 2024 2023 Capital Development Grant 649,orM) 649,000 18 UNITS AND BED SPACES IN MANAGEMENT 2024 Number 2023 Number Units managèment an<f owned Elderlyajd karning difficulty units 27 27 Totsl Owno 27 27 LEGISLATIVE PROVISIONS The Ch8111y Is a Registered Social Housing Provider under Th8 Houskng and Régenetyiion Act 2008. The Charity 1$ 8 Public Benefit Enlily. 20 RELATED PARTY TRANSACTIONS Nothing lo note. Page 20