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|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)||||||||||
|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||||||||||
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|||||||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|||
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|||||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|
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|||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|
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||||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|||||
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|Accomm|odat|ion|owned and in management|||
|---|---|---|---|---|---|
|||||Number of|Number of|
|||||units|units|
|||||2022|2021|
|Completed||units:||||
|Housing|for|older|people|153|153|
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||||||||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|
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|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|
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|||||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|
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|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|
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|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|
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|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|