| Contents | Page | ||
|---|---|---|---|
| Charity Information |
1-2 | ||
| Trustees' Report |
|||
| Auditor's Report |
|||
| Statement of Comprehensive |
Income | 12 | |
| Balance Sheet | 13 | ||
| Statement ofChanges | in Reserves | 14 | |
| Notes to the Financial | Statements | 15-25 |
| Charity registration | number | 213407 | |||
|---|---|---|---|---|---|
| Trustees | Co-optative Trustees | ||||
| KFWilliams - Chair of | Trustees | ||||
| D Undy —Deputy | Chair | ofTrustees | |||
| M Sage | |||||
| SHiggins | |||||
| J Benson | |||||
| Representative | Trustees | ||||
| SGarner | |||||
| Cllr BAnswer | |||||
| Cllr I Sheppard |
|||||
| Cllr BLohan | |||||
| Place ofbusiness | Brunts Chambers | ||||
| 2 Toothill Lane | |||||
| Mansfield | |||||
| Nottinghamshire | |||||
| NG18 1NJ | |||||
| Auditor | Barnett &Turner | Accountants | Ltd | ||
| Chartered Accountants |
and | ||||
| Statutory Auditors | |||||
| Cromwell House |
|||||
| 68West Gate | |||||
| Mansfield | |||||
| Nottinghamshire | |||||
| NG18 1RR | |||||
| Solicitor | Bryan &Armstrong | ||||
| The New Meeting House | |||||
| StPeter's Court | |||||
| Station Street | |||||
| Mansfield | |||||
| Nottinghamshire | |||||
| NG18 1EF | |||||
| Bankers | National Westminster |
Bank pic | |||
| 9Church Street | |||||
| Mansfield | |||||
| Nottinghamshire | |||||
| NG18 1AF |
| Champion Crescent/Westfield |
Lane | 40Almshouses | ||
|---|---|---|---|---|
| Samuel Close | 18Almshouses | |||
| The Patchills, oif Eakring Road | 50Almshouses | |||
| John Greenwood —The Patchills | 6Almshouses | |||
| The Patchills, off Eakring Road | 25 Flats | |||
| The Patchills, off Eakring Road | 14Two bedroomed | semi-detached | bungalows |
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Note | 8000 | EOOO | |||
| Turnover | 536 | 521 | |||
| Cost ofsales | (710) | (793) | |||
| Gross (deficit) | (174) | (272) | |||
| Administrative expenditure |
(268) | (223) | |||
| Other operating income |
293 | 327 | |||
| Operating (deficit) |
(149) | (168) | |||
| Interest receivable and | similar income | ||||
| Movement in fair value |
offinancial | instruments | 1,640 | (735) | |
| Surplus I(deficit) on ordinary activities for the year | 1,494 | (894) | |||
| Total comprehensive | income for | year | 1,494 | (894) | |
| On behalf of the Trustees |
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Note | 8000 | f000 | |||
| Fixed assets | |||||
| Tangible fixed assets | 1,894 | 2,010 | |||
| Investments | 5,700 | 5,103 | |||
| 7,594 | 7,113 | ||||
| Current assets | |||||
| Debtors | 10 | 62 | 73 | ||
| Investments | 11 | 5,870 | 4,826 | ||
| Cash at bank and in | hand | 1,486 | 1,407 | ||
| 7,418 | 6,306 | ||||
| Creditors: amounts | falling due within one year | 12 | (211) | (112) | |
| Net current assets | 7,207 | 6,194 | |||
| Total net assets | 14,801 | 13,307 | |||
| Reserves | |||||
| Income and expenditure | reserve | 13 | 9,087 | 8,193 | |
| Restricted reserve | 13 | 230 | 212 | ||
| Endowment reserve |
13 | 5,484 | 4,902 | ||
| Total reserves | 14,801 | 13,307 |
| Income and | Restricted | Endowment | Total | ||
|---|---|---|---|---|---|
| expenditure | reserve | reserve | |||
| reserve | |||||
| 8000 | EOOO | EOOO | EOOO | ||
| At 1 April 2019 | 8,585 | 223 | 5,393 | 14,201 | |
| (Deficit) for the year | (737) | (11) | (146) | (894) | |
| Transfer between | funds | (345) | |||
| At 31 March 2020 | 8,193 | 212 | 4,902 | 13,307 | |
| Surplus for the year | 600 | 18 | 876 | 1,494 | |
| Transfer between | funds | 294 | (294) | ||
| At 31 March 2021 | 9,087 | 230 | 5,484 | 14,801 |
| 2 | Social hou | sing t |
urnover | and | costs | |||
|---|---|---|---|---|---|---|---|---|
| 2021 | 2020 | |||||||
| ROOO | @000 | |||||||
| Rents receivable | excluding | service charges | 536 | 521 | ||||
| Social housing activity expenditure |
(710) | (793) | ||||||
| Operating (deficit) from social housing |
activities | (174) | (272) | |||||
| Net (deficit) | from | social housing | activities | (174) | (272) | |||
| Void losses | ||||||||
| 3 | Accommodation | owned | and | in management | ||||
| Number of | Number of | |||||||
| units | units | |||||||
| 2021 | 2020 | |||||||
| Completed | units: | |||||||
| Housing for | older | people | 153 | 153 |
| 2021 | 2020 |
|---|---|
| 6000 | 6000 |
| 2021 6000 |
2020 6000 |
|||||
|---|---|---|---|---|---|---|
| Bank interest receivable | ||||||
| 5 | Surplus / defecit on ordinary activities |
|||||
| Surplus / defecit on ordinary activities |
is stated after | charging | / (crediting): | |||
| 2021 | 2020 | |||||
| 6000 | ROOO | |||||
| Auditor's remuneration for audit services |
8 | 8 | ||||
| Auditor's remuneration for non-audit |
services | 6 | 6 | |||
| Depreciation oftangible fixed assets |
116 | 116 | ||||
| Gain / (Loss) on fair value movement | of investment | property | (6) | |||
| Gain / (Loss) on fair value movement | of investments | 1,640 | (730) |
| Housing | properties | |
|---|---|---|
| for letting | ||
| 8000 | ||
| Cost | ||
| At 1 April 2020 and at 31 March 2021 | 4,575 | |
| Depreciation | ||
| At 1 April 2020 | 2,565 | |
| Charge for year | 116 | |
| At 31 March 2021 | 2,681 | |
| Net book value | ||
| At 31 March 2021 | 1,894 | |
| At 31 March 2020 | 2,010 |
| The net book value of land and buildings compris |
ed: | |
|---|---|---|
| 2021 | 2020 | |
| KOOO | 8000 | |
| Land and buildings: | ||
| Freehold | 1,894 | 2,010 |
| Fixed asset investments | ||||
|---|---|---|---|---|
| Investment | Listed | Other | ||
| properties | investments | investments | Total | |
| 8000 | 8000 | 8000 | 6000 | |
| Cost or valuation | ||||
| At 1 April 2020 | 1,496 | 3,538 | 5,103 | |
| Revaluation | 597 | 597 | ||
| At 31 March 2021 | 1,496 | 4,135 | 69 | 5,700 |
| 10 | equal to the amounts spent, have to Debtors |
be set aside out ofaccumulat | ed income. |
|
|---|---|---|---|---|
| 2021 | 2020 | |||
| 8000 | 8000 | |||
| Trade debtors (gross social housing | rent arrears) | 34 | 26 | |
| Trade debtors (others) | 28 | 47 | ||
| 62 | 73 | |||
| 11 | Current asset investments | |||
| 2021 | 2020 | |||
| 8000 | 8000 | |||
| Listed investments | 5,724 | 4,681 | ||
| Short term deposits | 146 | 145 | ||
| 5,870 | 4,826 |
| Creditors: amounts f |
alling due within one year | ||
|---|---|---|---|
| 2021 | 2020 | ||
| 0000 | @000 | ||
| as restated | |||
| Trade creditors | 0 | 5 | |
| Rents paid in advance |
16 | 17 | |
| Other tax and social security | 5 | 5 | |
| Accruals and deferred | income | 181 | 85 |
| 211 | 112 |
| provides benefi the UK. |
provides benefi the UK. |
t | s to some 500 non-associ | s to some 500 non-associ | ated employers |
ated employers |
. The scheme is |
a defined benefit |
scheme in |
|---|---|---|---|---|---|---|---|---|---|
| Reconciliation | ofpresent value of plan | liabilities | 2021 | 2020 | |||||
| f000 | 6000 | ||||||||
| Defined | benefit | obligation at start of period | 632 | 710 | |||||
| Current | service | cost | 43 | 46 | |||||
| Expense | 2 | 2 | |||||||
| Interest | expense | 16 | 17 | ||||||
| Member | contributions | 0 | g | ||||||
| Actuarial | (gains) | due to scheme experience | (14) | (60) | |||||
| Actuarial gains Actual losses / |
/ (losses) due to changes (gains) due to changes in |
in demographic assumptions financial assumptions |
3 176 |
(6) (84) |
|||||
| Benefits | paid and expenses | (2) | (2) | ||||||
| Defined | benefit | obligation at end of period | 865 | 632 | |||||
| Reconciliation | ofpresent value of plan | assets | 2021 | 2020 | |||||
| 8000 | 8000 | ||||||||
| At the beginning | ofthe year | 552 | 520 | ||||||
| Interest | income | 14 | 13 | ||||||
| Actuarial | gains | / | (losses) | 63 | (36) | ||||
| Contributions | 62 | 57 | |||||||
| Benefits | paid | (2) | (2) | ||||||
| At the end ofthe | year | 689 | 552 |
| Pension commitments (continued) |
Pension commitments (continued) |
||
|---|---|---|---|
| Composition of plan assets' |
2021 | 2020 | |
| 8000 | 6000 | ||
| Global equity | 110 | 81 | |
| Absolute return |
38 | 29 | |
| Distressed opportunities |
20 | 11 | |
| Credit relative value | 22 | 15 | |
| Alternative risk premia |
26 | 39 | |
| Emerging markets debt |
28 | 17 | |
| Risk sharing | 25 | 19 | |
| Insurance-linked securities |
17 | 17 | |
| Property | 14 | 12 | |
| Infrastructure | 46 | 41 | |
| High Yield | 21 | ||
| Private debt | 16 | 11 | |
| Opportunistic illiquid credit |
17 | 13 | |
| Opportunistic credit |
19 | ||
| Corporate bond fund |
41 | 31 | |
| Liquid credit | 8 | ||
| Long lease property | 13 | 10 | |
| Secured income | 29 | 21 | |
| Liability driven investment |
175 | 183 | |
| Net current assets | 4 | 2 | |
| Total assets | 689 | 552 | |
| Composition of plan assets |
2021 | 2020 | |
| 6000 | 6000 | ||
| Fair value ofplan assets | 689 | 552 | |
| Present value of plan liabilities | (865) | (632) | |
| Net pension scheme liability |
(176) | (80) | |
| The amounts recognised |
In profit or loss are as follows | ||
| 2021 | 2020 | ||
| 6000 | 8000 | ||
| Current fund cost | 43 | 46 | |
| Expenses | 2 | 2 | |
| Interest on obligation | 2 | ||
| 47 | 52 |
| Principal actuarial as |
sumptions a |
t the balance sheet date | (expressed as weighted averages |
) |
|---|---|---|---|---|
| 2021 | 2020 | |||
| Discount rate | 2.17 | 2.38 | ||
| Inflation (RPI) | 3.28 | 2.62 | ||
| Inflation (CPI) | 2.86 | 1.62 | ||
| Salary growth | 3.86 | 2.62 | ||
| Mortality rates | ||||
| ~ Fora pensioner |
aged 60 now | 22.6 | 22.4 | |
| ~ At 60for afuture |
pensioners | now | 24.0 | 23.7 |