| Contents | Page | ||
|---|---|---|---|
| Charity Information |
1-2 | ||
| Trustees' Report |
3-9 | ||
| Auditor's Report |
10-13 | ||
| Statement ofComprehensive | Income | 14 | |
| Balance Sheet | 15 | ||
| Statement ofChanges | in Reserves | 16 | |
| Notes to the Financial | Statements | 17-27 |
| Charity registration | number | 213407 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Trustees | Comptative Trustees |
||||||||||
| KFWilliams - Chair ofTrustees | |||||||||||
| D Undy —Deputy Chair ofTrustees | |||||||||||
| M Sage | |||||||||||
| SHiggins | |||||||||||
| J Benson | |||||||||||
| R Bottomley (appointed | 17 | May 2021) | |||||||||
| H Wapplington | (appointed | 1 August | 2021 and | resigned | 13 | ||||||
| April 2022) | |||||||||||
| Representative | Trustees | ||||||||||
| SGamer | |||||||||||
| Cllr BAnswer (resigned 29 | July | 2021) | |||||||||
| Cllr I Sheppard |
(resigned 29July 2021) | ||||||||||
| Cllr BLohan | |||||||||||
| Cllr TClay (appointed 31July 2021) CllrJCoxhead (appointed 31July 2021) |
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| Place ofbusiness | Brunts Chambers | ||||||||||
| 2Toothill 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 | |||||||||||
| St Peter's Court | |||||||||||
| Station Street | |||||||||||
| Mansfield | |||||||||||
| Nottinghamshire | |||||||||||
| NG18 1EF | |||||||||||
| Bankers | National Westminster | Bank | pic | ||||||||
| 9Church Street | |||||||||||
| Mansfield | |||||||||||
| Nottinghamshire | |||||||||||
| NG18 1AF |
| 2022 | 2021 | ||||||
|---|---|---|---|---|---|---|---|
| Note | 8000 | EOOO | |||||
| Turnover | 563 | 536 | |||||
| Cost ofsales | (752) | (710) | |||||
| Gross (deficit) | (189) | (174) | |||||
| Administrative expenditure |
(243) | (268) | |||||
| Other operating income |
325 | 293 | |||||
| Operating (deficit) |
(107) | (149) | |||||
| Interest receivable and | similar income | ||||||
| Movement in fair value |
offinancial | instruments | 1,003 | 1,640 | |||
| Surplus on ordinary | activities for the year | 896 | 1,494 | ||||
| Total comprehensive | income for | year | 896 | 1,494 | |||
| On behalf ofthe Trustees | |||||||
| KFWilliams | D Undy | ||||||
| Chair ofTrustees | Deputy | Chair ofTrustees |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Note | 6000 | 6000 | |||
| Fixed assets | |||||
| Tangible fixed assets | 8 | 1,778 | 1,894 | ||
| Investments | 9 | 6,172 | 5,700 | ||
| 7,950 | 7,594 | ||||
| Current assets | |||||
| Debtors | 10 | 92 | 62 | ||
| Investments | 11 | 6,266 | 5,870 | ||
| Cash at bank and in | hand | 1,564 | 1,486 | ||
| 7,922 | 7,418 | ||||
| Creditors: amounts | falling due within one year | 12 | (175) | (211) | |
| Net current assets | 7,747 | 7,207 | |||
| Total net assets | 15,697 | 14,801 | |||
| Reserves | |||||
| Income and expenditure | reserve | 13 | 9,506 | 9,087 | |
| Restricted reserve | 13 | 236 | 230 | ||
| Endowment reserve |
13 | 5,955 | 5,484 | ||
| Total reserves | 15,967 | 14,801 |
| Income and | Restricted | Endowment | Total | ||
|---|---|---|---|---|---|
| expenditure | reserve | reserve | |||
| reserve | |||||
| KOOO | KOOO | EOOO | 8000 | ||
| At 1 April 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 | |
| Surplus for the year | 100 | 790 | 896 | ||
| Transfer between | funds | 319 | (319) | ||
| At 31 March 2022 | 9,506 | 236 | 5,955 | 15,967 |
| 2022 | 2021 | |||
|---|---|---|---|---|
| 0000 | 6000 | |||
| Rents receivable | excluding service charges |
563 | 536 | |
| Social housing activity expenditure |
(752) | (710) | ||
| Operating (deficit) from social housing |
activities | (189) | (174) | |
| Net (deficit) from | social housing activities |
(189) | (174) | |
| Void losses |
| Accomm | odat | ion | owned and in management | ||
|---|---|---|---|---|---|
| Number of | Number of | ||||
| units | units | ||||
| 2022 | 2021 | ||||
| Completed | units: | ||||
| Housing | for | older | people | 153 | 153 |
| 2022 | 2021 | |||||||
|---|---|---|---|---|---|---|---|---|
| 5000 | 6000 | |||||||
| Bank interest | receivable | |||||||
| 5 | Defecit on | ordinary activities |
||||||
| Defecit on | ordinary activities is stated |
after charging | / (crediting): | |||||
| 2022 | 2021 | |||||||
| 6000 | 6000 | |||||||
| Auditor's | remuneration | for audit senrices | 8 | 8 | ||||
| Auditor's | remuneration | for non-audit | services | 6 | 6 | |||
| Depreciation | oftangible | fixed assets | 116 | 116 | ||||
| Gain / (Loss) | on fair value movement | ofinvestment | property | 355 | ||||
| Gain / (Loss) | on fair value movement | ofinvestments | 648 | 1,640 |
| Tangible fixed assets —housing p |
rope | rties | ||
|---|---|---|---|---|
| Housing | properties | |||
| for letting | ||||
| 8000 | ||||
| Cost | ||||
| At 1 April 2021 and at 31 March 2022 | 4,575 | |||
| Depreciation | ||||
| At 1 April 2021 | 2,681 | |||
| Charge for year | 116 | |||
| At 31 March 2022 | 2,797 | |||
| Net book value | ||||
| At 31 March 2022 | 1,778 | |||
| At 31 March 2021 | 1,894 | |||
| Cost is stated net of Social Housing | Grant. | |||
| The net book value of land and buildings | comprised: |
| The net book value of land and buildings comprised: |
|||
|---|---|---|---|
| 2022 | 2021 | ||
| 6000 | f000 | ||
| Land and buildings; | |||
| Freehold | 1,778 | 1,894 | |
| 9 | Fixed asset investments |
| ixed asset investments | ||||
|---|---|---|---|---|
| Investment | Listed | Other | ||
| properties | investments | investments | Total | |
| 6000 | 6000 | 8000 | 8000 | |
| Cost orvaluation | ||||
| At 1 April 2021 | 1,496 | 4,135 | 69 | 5,700 |
| Revaluation | 355 | 117 | 472 | |
| At 31 March 2022 | 1,851 | 4,252 | 69 | 6,172 |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| 6000 | KOOO | ||||
| Trade | debtors (gross social housing | rent arrears) | 39 | 34 | |
| Trade | debtors (others) | 29 | 28 | ||
| Other | debtors | 24 | |||
| 92 | 62 | ||||
| 11 | Current | asset investments | |||
| 2022 | 2021 | ||||
| 6000 | FOOO | ||||
| Listed | investments | 6,255 | 5,724 | ||
| Short | term deposits | 11 | 146 | ||
| 6,266 | 5,870 |
| rovides benefits he UK. |
rovides benefits he UK. |
to some 500 non-associat | to some 500 non-associat | ed employers. |
The scheme is | a defined benefit | scheme in |
|---|---|---|---|---|---|---|---|
| Reconciliation | ofpresent value ofplan | liabilities | 2022 | 2021 | |||
| KOOO | KOOO | ||||||
| Defined | benefit obligation at start of period | 865 | 632 | ||||
| Current | service | cost | 57 | 43 | |||
| Expense | 2 | 2 | |||||
| Interest | expense | 19 | 16 | ||||
| Member | contributions | 8 | 9 | ||||
| Actuarial | losses | / (gains) due to scheme | experience | 42 | (14) | ||
| Actuarial | (gains) | / losses due tochanges | in demographic | assumptions | (12) | 3 | |
| Actual (gains) / |
losses due to changes | in | financial assumptions | (73) | 176 | ||
| Benefits | paid and expenses | (18) | (2) | ||||
| Defined | benefit | obligation at end ofperiod | 890 | 865 | |||
| Reconciliation | ofpresent value of plan | assets | 2022 | 2021 | |||
| KOOO | KOOO | ||||||
| At the beginning | ofthe year | 689 | 552 | ||||
| Interest | income | 15 | 14 | ||||
| Experience gains on plan assets | 13 | 63 | |||||
| Contributions | 56 | 62 | |||||
| Benefits | paid and expenses | (18) | (2) | ||||
| At the end ofthe year | 755 | 689 |
| 14 | Pension commitments | (continued) | |||
|---|---|---|---|---|---|
| Composition of plan |
assets | 2022 | 2021 | ||
| 6000 | 6000 | ||||
| Global equity | 145 | 110 | |||
| Absolute return |
30 | 38 | |||
| Distressed opportunities |
27 | 20 | |||
| Credit relative value | 25 | 22 | |||
| Alternative risk premia |
25 | 26 | |||
| Emerging markets debt |
22 | 28 | |||
| Risk shading | 25 | 25 | |||
| Insurance-linked securities |
18 | 17 | |||
| Property | 20 | 14 | |||
| Infrastructure | 54 | 46 | |||
| High Yield | 19 | 21 | |||
| Pdivate debt | 25 | 16 | |||
| Opportunistic illiquid credit |
7 | 17 | |||
| Opportunistic credit |
3 | 19 | |||
| Cash | 3 | ||||
| Corporate bond fund |
50 | 41 | |||
| Liquid credit | 8 | ||||
| Long lease property | 19 | 13 | |||
| Secured income | 28 | 29 | |||
| Liability driven investment |
211 | 175 | |||
| Currency hpedging |
(3) | ||||
| Net current assets | 2 | 4 | |||
| Total assets | 755 | 689 | |||
| Composition of plan |
assets | 2022 | 2021 | ||
| KOOO | 6000 | ||||
| Fair value of plan assets | 755 | 689 | |||
| Present value of plan | liabilities | (890) | (865) | ||
| Net pension scheme | liability | (135) | (176) | ||
| The amounts recognised |
in profit or loss are as follows | ||||
| 2022 | 2021 | ||||
| 6000 | 6000 | ||||
| Current fund cost | 57 | 43 | |||
| Expenses | 2 | 2 | |||
| Interest on obligation | 4 | 2 | |||
| 63 | 47 |
| Principal actuarial | assumptions | assumptions | at the balance sheet date (expressed as weighted | at the balance sheet date (expressed as weighted | averages) | |
|---|---|---|---|---|---|---|
| 2022 | 2021 | |||||
| '/o | '/o | |||||
| Discount rate | 2.79 | 2.17 | ||||
| Inflation (RPI) | 3.59 | 3.28 | ||||
| Inflation (CPI) | 3.20 | 2.86 | ||||
| Salary growth | 4.20 | 3.86 | ||||
| Mortality rates | ||||||
| ~ For s pensioner |
aged 65 | now | 22.4 | 22.6 | ||
| ~ At 65for a |
future | pensioners | now | 23.8 | 24.0 |