##
|||Page|
|---|---|---|
|Report ofthe Trustees|||
|Independent
Examiner's|Report||
|Statement ofFinancial|Activities||
|Balance Sheet|||
|Statement ofCash Flows|||
|Notes to the Financial Statements||8-15|
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|||Note|||||||
|---|---|---|---|---|---|---|---|---|
||||Unrestricted
General
Designated|||Restricted|Total
2020|Total
2019|
|INCOME &ENDOWMENTS|FROM||||||||
|Charitable
activities
Investment
income|||98,622
3,194||||98,622
3,194|96,152
3,175|
|TOTAL INCOME|||101,816||||101,816|99,327|
|EXPENDITURE ON:|||||||||
|Charitable
activities||5,6|115,771||||115,771|91,159|
|TOTAL EXPENDITURE|||115,771||||115,771|91,159|
|Net (losses)/gains
on investments||||||(3,221)|(3,221)|10,691|
|NET (EXPENDITURE)i INCOME BEFORE
TRA.NSFERS|||(13,955)|||(3,221)|(17,176)|18,859|
|Transfers
Between Funds||14|9,187|||(9,187)|||
|NET (EXPENDITURE) I INCOME AFTER|||||||||
|TRANSFERS BETWEEN FUNDS|||(4,768)|||(12,408)|(17,176)|18,859|
|RECONCILIATION
OF FUNDS:|||||||||
|FUNDS BROUGHT FORWARD|||93,838||114,380|466,957|675,175|656,316|
|FUNDS CARRIED FORWARD|||89,070||114,380|454,549|657,999|675,175|
##
##
|BALANCE SHEET
for the Year Ended 31|December 2020||||||
|---|---|---|---|---|---|---|
||||2020||2019||
|||Notes|||||
|FIXEDASSETS|||||||
|Housing
and other property
Investments||10
8||483,120
95,346||507,449
96331|
|||||578,466||603,780|
|CURRENT ASSETS:|||||||
|Debtors and prepayments
Cash at bank and in hand||11
12|4,139
89,296||1,906
78,810||
||||93,435||80,716||
|CREDITORS: Amounts|falling||||||
|due within one year||13|(13,902)||9321||
|NET CURRENT ASSETS:||||79533||71395|
|TOTAL ASSETSLESSLIABILITIES:||||657,999||675,175|
|RESERVES:||14|||||
|Unrestricted:-|||||||
|Income and expenditure|account (General|fund)||89,070||93,838|
|Designated
reserves||||114,380||114,380|
|Restricted:-|||||||
|Endowment
fund||||205,993||205,993|
|Social Housing
Grant fund
Revaluation
reserve||||220,487
28,069||229,674
31,290|
|||||657,999||675,175|
##
|||||2020|2019|
|---|---|---|---|---|---|
|Net (expenditure)/income|for the reporting||period (as per the statement|||
|offinancial activities)||||(17,176)|18,859|
|Adjustments
for:||||||
|Depreciation
charges||||26,827|26,740|
|Interest received||||(54)|(1 II)|
|Dividends
received||||(3,140)|(3,064)|
|(Gains)/losses
on investments||||3,221|(10,691)|
|(Increase)/decrease/
in debtors||||(2,233)|858|
|Increase/(decrease)
in creditors||||4,581|(5,937)|
|Net Cash provided/(used|in) by operation||activities|12,026|26,654|
|STATEMENT OF CASH|FLOWS|||||
|||||2020|2019|
|Cash flows from operating|activities:|||||
|Cash generated
from operations (See above)||||12,026|26,654|
|Cash flows from investing|activities:|||||
|Interest received||||54|111|
|Dividends
received||||3,140|3,064|
|Dividends
reinvested
Purchase oftangible
fixed|assets|||(2,236)
(2,498)|(2,206)|
|Net cash provided
by investing||||||
|activities||||(1,540)|969|
|Change in cash and cash equivalents||in the||||
|Reporting
period||||10,486|27,623|
|Cash and cash equivalents|at the beginning||of|||
|the reporting
period||||78,810|51,187|
|Cash and cash equivalents|at the end|ofthe||||
|reporting
period||||89,296|78,810|
##
##
##
##
##
|Freehold Property|20 years|
|---|---|
|Building|50years|
|Warden
Call system|20years|
|Mains water conversion
Kitchens 4 Bathrooms|20 years
20 years|
|Communal
lounge furniture|10years|
|Fire Alarm system|20 years|
|Communal
areas radiators|20 years|
|Electric heating (all flats)|20 years|
|Kitchen Flat|20 years|
##
##
##
##
##
##
##
##
##
##
##
||Unrestricted
General
Designated|Unrestricted
General
Designated|Restricted|Total
2019|
|---|---|---|---|---|
|INCOME &ENDOWMENTS
FROM:|||||
|Investment
income|3,175|||3,175|
|Charitable
activities|96,152|||96,152|
|TOTAL INCOME|99,327|||99,327|
|EXPENDITURE ON:|||||
|Charitable
activities|91,159|||91,159|
|TOTAL EXPENDITURE|91,159|||91,159|
|Net gains on investment
assets|||10,691|10,691|
|NET INCOME
/ (EXPENDITURE) BEFORE
TRANSFERS|8,168||10,691|18,859|
|Transfers
Between Funds|(28,848)|38,035|(9,187)||
|NET INCOME
/ (EXPENDITURE) AFTER|||||
|TRANSFERS BETWEEN FUNDS|(20,680)|38,035|1,504|18,859|
|NET MOVEMENT
IN FUNDS|(20,680)|38,035|1,504|18,859|
|RECONCILIATION
OF FUNDS:|||||
|FUNDS BROUGHT FORWARD|114,518|76,345|465,453|656,316|
|FUNDS CARRIED FORWARD|93,838|114,380|466,957|675,175|
##
||||2020|2019|
|---|---|---|---|---|
||Gross amounts|receivable|100,787|96,152|
||Less voids||(2,165)||
||||98,622|96,152|
|4.|INTEREST RECEIVABLE AND SIMILAR INCOME||||
||||2020|2019|
||Dividends||3,140|3,064|
||Interest received||54|111|
||||3,194|3,175|
##
##
##
##
||||2020|2019|
|---|---|---|---|---|
|Depreciation|- owned assets||26,827|26,740|
|Independent|Examiner's|fee|3,000|3,000|
##
##
##
|IXEDASSETINVESTMENTS|||||||||
|---|---|---|---|---|---|---|---|---|
||||||2020|||2019|
||||||Market||Market||
||||||Value|Cost|Value|Cost|
|The investments
comprise the following:|||||||||
|1,244 COIF Income Shares
COIF Deposit Fund|||||22,406
11,119|5,737
11,119|21,059
11,090|5,737
11,090|
|M&G Charity
Multi Asset Income||Fund|||6,867|2,843|7,421|2,843|
|M&G Charity
Multi Asset Accumulation|||Fund||54,954|13,320|56,761|11,113|
|Balance at 31 December|||||95,346|33019|96331|30783|
||||||||2020|2019|
|Market Value:|||||||||
|I January 2020
Accumulated
Income reinvested|||||||96,331
2,236|83,434
2,206|
|Unrealised
(loss)/gain
on investments|||||||(3,221)|10,691|
|31 December 2020|||||||95,346|96,331|
|The original
cost ofinvestments|cannot be ascertained,|||so|they have been|stated at|their values on I April 1988.||
|Additional
investments
since that|date are||valued at cost.||||||
|INVESTMENT REVALUATION||RESERVE|||||2020|2019|
|Balance brought
forward|||||||31,290|20,599|
|Movement
in market value ofinvestments|||||||(3,221)|10,691|
|Balance carried forward|||||||28,069|31,290|
##
|10.|TANGIBLE FIXEDASSETS|||||
|---|---|---|---|---|---|
|||Freehold||||
|||Housing|New Build|Plant &||
|||Property|Property|Machinere|Total|
||COST OR VALUATION:|||||
||At 1 January 2020|807,882|40,487|149,940|998,309|
||Additions|||2,498|2,498|
||At 31 December 2020|807,882|40,487|152,438|1,000,807|
||DEPRECIATION:|||||
||At 1 January 2020|424,001|34,698|32,161|490,860|
||Charge for year|16,156|2,024|8,647|26,827|
||At 31 December 2020|440,157|36,722|40,808|517,687|
||NET BOOK VALUE:|||||
||At 31 December 2020|367,725|3,765|111,630|483,120|
||At 31 December 2019|383,881|5,789|117,779|907449|
|11.|DEBTORS:AMOUNTS FALLING|||||
||DUE WITHIN ONE YEAR|||||
|||||2020|2019|
||Weekly maintenance
contributions|||2,723|409|
||Prepayments|||1,416|1,497|
|||||4,139|1,906|
|12.|CASH AT BANK AND IN HAND|||||
|||||2020|2019|
||HSBC Current Account and Cash in Hand|||15,006|54,545|
||Bank Deposit|||74,290|24,265|
|||||89,296|78,810|
##
##
##
|DUE WITHIN ON|E YEAR|||
|---|---|---|---|
|||2020|2019|
|Weekly maintenance
Trade creditors|contributions|3,632
4,990|1,205
3,934|
|Accruals||5,280|4,182|
|||13,902|9,321|
##
|||Funds|||(Losses)/gains|Transfers|Funds|
|---|---|---|---|---|---|---|---|
|||balances|||on|between|balances|
|||31.12.19|Income|Expenditure|investments|funds|31.12.20|
|General funds||93,838|101,816|(115,771)||9,187|89,070|
|Designated|ERF|60,380|||||60,380|
|Designated|CMF|54,000|||||54,000|
|Endowment|Fund|205,993|||||205,993|
|Social Housing||||||||
|Grant Fund||229,674||||(9,187)|220,487|
|Revaluation||||||||
|Reserve||31,290|||(3,221)||28,069|
|||675,175|101,816|(115,771)|(3,221)||657,999|
|||Funds|||Gains/(losses)|Transfers|Funds|
|||balances|||on|between|balances|
|||31.12.18|Income|Expenditure|investments|funds|31.12.19|
|General funds||114,518|99,327|(91,159)||(28,848)|93,838|
|Designated|ERF|60,380|||||60,380|
|Designated
Endowment|CMF
Fund|15,965
205,993||||38,035|54,000
205,993|
|Social Housing||||||||
|Grant Fund||238,861||||(9,187)|229,674|
|Revaluation||||||||
|Reserve||20,599|||10,691||31,290|
|||656,316|99,327|(91,159)|10,691||675,175|
##
##
|sis ofnet a|ssets by funds:|||||
|---|---|---|---|---|---|
|||Fixed|Current|Current|Net|
|||assets|assets|liabilities|assets|
|General funds||63,537|39,435|(13,902)|89,070|
|Designated|ERF|60,380|||60,380|
|Designated|CMF||54,000||54,000|
|Endowment||205,993|||205,993|
|SHG Fund||220,487|||220,487|
|Revaluation|Reserves|28,069|||28„069|
|||578,466|93,435|(13,902)|657,999|
##
##
##