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 2￿35 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￿￿[. 0￿￿1ng 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$s lheir$In￿re 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 de1￿hle￿ 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 Reve￿nd 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 > p￿pa￿ 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 $taiemen15 cornply wlh Ihe Chaiitls Act 2011. the Houslng and Regeneration Act 2008 8nd Ihe Accounting Direclion for Private Registered Pra￿dets of SocAal Housing 2019. 11 is responsible for mainlsining a salisfaclory system of conliol over Ihe aGcounling records and Ir8ns8Ctions 8nd lor saleguar(5ino the assets of the Charity and henGe for l)king reasonablè steps for the prevention and deleGltoD of fraud and other ir￿guIalltl@s. Internal tlnanclal control The Board of Twslees is responsible for the Charills sy5tÈm of internal financial conlrd. Although no sysiem of internal financial Goniiol can provide absolute assurance agalnst M2teriaS misslal8m8nl or1088, the Chaiills system is designed lo provide Ihe ommiiiee ￿th reasonable assurance Ihal problems are identified on a timely basis an(f dealt wilh approprialety. Ihal assets aré safeguarded against unaulhoiised use or di5posilion, Ihal proper a¢￿UntIng re¢ords are malnlained., and thai the financial inforrnalion used wlhin Ihe Charity or for publication is r8liable. Governance Code In May 2018 the charity adopted a new Code of Governance- the Charity Governan¢e Code. An analysis of the new Gode has been undertaken and there are currenllytwo areas where the board is not fully compliant.. Section 4.6.4 which requires boards to regularly consider Infomialion from other similar organisalions lo compare or benchmark thÈ organisation's performance. Given the Charity's specialist nature there have been dTfficullies in identifying a simllar slzéd organisalion lo benchmark against. Section 6.5.1 and 6.5.2 v4hich raquir&s Ihat plans are in place to monitor and 8ehieve the board's d￿ers￿Y0bJect[veS ané publishes the sl8PS taken lo address dn18rsily and accessibility of the board. Given the Size alld detnographic of Ihe IoG31 arÈÈ the board feels 11 is representative of the a￿a itwotks in howeverthLg 1$ 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$, forth8 co81 FM Is defin￿AS geitlll9thé Dghl balanc8 of inpu1$, pr(u$s 9nd OLrtc¢m95, a8 des￿￿￿& bythg3 E$.. Econorny rnlnlmtsing Iheresoutces requir8d-, , Eft￿EncY to acc￿￿p￿sh 50mBthing ihe ￿a￿lWa￿e 0111mB andellart, . EffÈttNenBSS." re￿tl￿ShIp thp inlendBd and Jth£lresutt5 Thp gockin9 Iknttgd Ch8Trli8$8nd L&Q Lfving Llmlled. ￿be￿a Ihe con1r0￿ Ihat are reqthred con1￿￿810r1￿￿foI0&￿eab￿f￿tvrfj. T￿ TruYteÈ$ pèrfem￿¢è SPE￿￿ KPI$, $uth as rÈnlaffe*s. v￿dIO$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 $tock, otU* CharMy.ICWherwtth it9 gtie*nd Ioc4tth. Tfu91ee9 conshleith* enter Inio Ihe mahagemeni £irangerneni L&0 Llvlng Limtted Isthe be￿￿￿% olensL*lni ¥alJef¢r m(theyloralstBkeh0kJe￿ ￿d, most pan]u￿a￿v, Charllls re*d¢ni6. Measuring valuo for money Lkndwthe'va￿0 lor 2018" Issued byth8 addttlonalm8awT8S réqulT8d lo b8 roparted￿nU*ty bylb8 Cth8rhy3r¢'. 2024 2023 Reinv¢8tnYnt NewSupttyDelverÈd ISoGd HOu$kn¥J Unit$l New SupKtyDÈNvered {NOn-&￿￿1 H￿$1￿9 units) % Se￿￿￿ EBITOA MRI Iniert91 Headllne Sociol Housing C061 Per ikn operat￿ m￿1n Isociallhwslng18#Sngs only) OpBratuy M￿gIn loveralll Retum ¢BPito1 ￿Th￿DYed IROCEI % 0.0 0.0 NIA NIA È 6,1>44,54 £ 6.616 00 S.tsB% -27.5P 5.38% -27.57% 0.39% -1.5 NIA The reinve￿rneni Meiiicboks 81 the Investment piopenies as 3 per￿lE￿e￿11he vakne oftoial piopenies he￿ ai Ih•end ollhe y*ar. The Charitsls roinvesimeni perceniago Is Nn-{2023'. Nlil, tbe nl1w5tt￿ 5sasa rosul of no￿￿la10r¢cffiP0nInt rgLJt4d bskng ¢oThWeied In the yew. Tho new*upp￿￿eS￿￿¥ meirrcsel$ outth¢nuMkr of new1w￿bQ￿$m￿ andnoi-swolhou$fvJ unitslhat b8on ocquired ( dev￿￿P￿d ID lh8 y6Eras & Proport￿ oltol81 socialtwsing ￿rt￿Ond non-so¢iglhousitwJ at PeTElld end. Th15 m6trfc 18nil for lh8 Chaiilyas devEbpmEnl ofunils uulsnlantoak pl&ce In lh& year. Gear￿9 as¥osseyhowmuch ollhe adjusled ore madg up oldobl Ihodegi¥tsoldepondoDttoon debt1ba￿Ce. It iyotten k¢yindK8tor ola reg￿lered mideffSaPPBtite forgiu&lh. The EBITOA MRI I￿1￿e51 cover measure Is key Inditaitr l< Iquldily and investmenl cepacity. It seeks lornessure Ihe af suipkps thai a rryislered pr￿rydÈr oener*ÈS Compkns io Intete$t pay￿le.. Ihe me&suie Avolds anydk5l￿￿M$ stemminp Ir4mihè d￿&t￿n chBige. BLth oiine9e m*rixwe 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 eX￿pIlo￿al 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 s￿181 Houskno Provider 55 r05POn51Ne for p￿ParatI￿ 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$18 of oplnlon Our procedures consisled of comp31ing Ihe accounis wilh Ihe books of accounl kept by Ihe R&oisiered Social Housino Pro￿￿er maklng such Ilmlled enquiries of the officers of the Reglstered SOCHI Housing Pro¥lder8s we eonshsared n8cessary for purpos8 of thL% report. Th8se woc8dures prov￿8 Ihe assurance expressed in our opinion. OplThloh the attounts for ihe year ended 30 June 2024 8re In accordance ￿1h the accounling rec(Kd5 kepl by Ihe Regislered Sorial Housing Provider under paragraph 13512llal of Iha Houslng and Regenerallon Act 2008. hawng regard onlylo. and on Ihe basis of. the inlormaliofi containÈd in thé accounting r8coth.' -the accounts comply with Ihe requiremenis ol the Charities Acl 2011.. -IhÈ Regislered Soaal Houslng Provldtr ha$ satisfied the ¢ondilion forexempllon fEom an audilollhe accounis forlhe year ended 30 Junè 2024 spec￿led in SÈClion 136181 ol tho Ho￿sIng and RÉgtnèr21ion Act 2008., . the accounts complywilh the requirernenls of the Housino ReoenÈraiion Acl 2008 and th8 ACCOUn￿n0 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 D￿Ignated 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$h inflow from I Iu88d inl investln9 8CtivltiÈs 162.5111 164,5591 N8t InCTease in c88h and cash equivalents Cash and cash 8quivalenls al the beginning of Ihe year 33,389 4B,241 128.5201 76.761 Cash and cash equivalÈnts at the end of the year 81.630 48,241 Page 10 BO¢KING UNITE DCHARlnES NOTES TO THE FINANCIALSTATEMENTS FOR THE IEAR EWDED 30 JUNE 2024 1 PWN¢IPAL ACCOUWllNG POUCIES The fo11th%￿ Con$i*Éndyfrun