Nottingham Community Almshouse Charity Financial statements for the year ended 31 March 2022
2
Trustee, Advisors and Bankers
Contents
| Contents | |
|---|---|
| Trustee, Advisors and Bankers | 3 |
| Report of the Trustee | 4 |
| Report of the Independent Auditor to the Trustee | 10 |
| Statement of Financial Activities | 16 |
| Statement of Financial Position | 18 |
| Statement of Changes in Reserves | 20 |
| Statement of Cash Flows | 22 |
| Notes to the Financial Statements | 24 |
The Nottingham Community Almshouse Charity is a registered Charity No. 214040 being an unincorporated association governed by a Charity Commission Scheme dated 31 March 2009.
3
Nottingham Community Almshouse Charity
Trustee, Advisors and Bankers
Trustee
Nottingham Community Housing Association appointed in 1992 as the Sole Corporate Trustee.
Naomi Dobraszczyc Clerk to the Trustee (resigned 15 September 2021) Sylvia Gough Clerk to the Trustee (appointed 15 September 2021)
The directors of the Sole Corporate Trustee
Ms Claire Winfield BA (Hons) (NCHA Chair) (retired 31 August 2022)
Ms Carri Swann BA (Audit and Risk Committee) (retired 2 June 2021)
Mr Paul Casey BA MCIH (retired 28 July 2021)
Ms Audra Wynter MBA FCMI MIC ATT Fellow FMATT (Audit and Risk Committee) (retired 28 July 2021) Mr David Harrison BA MCIH
Mr Christopher Blackburn
Ms Donna Edwards BA, CPFA
Mr Callum Gillespie BSc (Hons) (Audit and Risk Committee Chair) (appointed as NCHA Chair 1 September 2022) Mr Mike Finister-Smith (Audit and Risk Committee)
Ms Lorelei Jarvis BSc (Hons)
Mr Pradeep Khuti BA
Mr Paul Parkinson BA (Hons) Dip. RSA FCIH
Mr Andrew Kilby FCCA (Audit and Risk Committee) (appointed 15 September 2021)
Ms Leanne Monger MPA, BA Hons CIHCM (Audit and Risk Committee) (appointed 15 September 2021) Mr Mohammed Habib FCIH MCIOB (appointed 15 September 2021)
Registered Office
12/14 Pelham Road Sherwood Rise Nottingham NG5 1AP
Telephone Email 0800 013 8555 info@ncha.org.uk Facsimile 0115 910 4445
External Auditors RSM UK Audit LLP 10th Floor, 103 Colmore Row, Birmingham, West Midlands, B3 3AG
Solicitors Bankers Freeths LLP Lloyds Bank plc Cumberland Court PO Box 72 80 Mount Street Bailey Drive Nottingham Gillingham NG1 6HH Kent ME8 0LS
Report of the Trustee Report of the Trustee
5
Nottingham Community Almshouse Charity
Objectives and activities
Charity on 20 August 2021. All assets, liabilities and reserves of the various charities were transferred to Nottingham Community Almshouse Charity and these accounts show performance for the current and prior year as a combined charity. The 2020/21 figures have been fully restated.
The objective of the Charity is to provide rented accommodation to necessitous persons. All activity is carried out in support of this objective.
The Charity increased the number of housing properties owned during 2021-2022 from 144 to 148 units following the transfer of William Crane Trust and Nottingham Annuity Charity into the Charity. No gross maintenance contributions receivable were generated from one property at William Woodsend Memorial Homes where the tenants are allowed to reside without making maintenance contributions. The remaining 147 properties provided gross maintenance contributions of £662,757 (restated 2021 - £644,078) at a weekly contribution of between £45.00 and £109.14 per property. Void losses of £18,085 (restated 2021 - £5,015) were incurred during the year.
Public benefit disclosure
The Charities Act 2011 identifies two key principles of public benefit namely there must be an identifiable benefit or benefits and the benefit must be to the public or to a section of the public.
The Trustee, in the aims and objectives of the Charity and in the oversight of the Charity’s operations, has had regard to and believes that it meets with the Charity Commission’s guidance on public benefit. The Trustee defines the public benefit of the Charity as being the provision of social rented accommodation to necessitous persons in the East Midlands.
Financial review
Achievements and performance
There was a surplus for the year of £9,268 (restated 2021 - £222,003).
The Statement of Financial Position of the Charity is strong, with unrestricted general fund reserves of £2,888,316 (restated 2021 - £2,879,048).
Nottingham Community Almshouse Charity was formed on 1 April 2008 by combining seven individual charities into one Charity. Nottingham Almshouse Charity, Ada Mary Best Homes, Lambley Almshouses, Henry Brown Homes & Julien Cahn Homes were subsequently added into the Charity. During 2019/20 two further Charities were added, Warner’s Almshouses on 1 June 2019 and Harworth Miners Bungalows on 20 December 2019. During 2021/22 an additional two Charities were added, William Crane Trust on 1 April 2021 and Nottingham Annuity
More Homes, Great Services, Better Lives
6
Report of the Trustee
Statement of compliance
The Trustee confirms this Report of the Trustee has been prepared in accordance with the principles set out in the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102).
Identification and evaluation of key risks
The Trustee confirms that there is a long-term ongoing review process for identifying and managing significant risks faced by NCAC covering the period up to the annual report. Management responsibility has been clearly defined for the identification, evaluation and control of significant risks. There is a formal and ongoing process of management review in each area of NCAC’s activities. The Executive team regularly considers and receives reports on significant risks facing NCAC and the Chief Executive is responsible for reporting to the Trustee any significant changes affecting key risks. All Trustee reports include a section detailing the risks arising or identified as a result of any information or recommendations included in the report.
In meeting its responsibilities, the Trustee has adopted a risk-based approach to internal controls which are embedded within the normal management and governance processes. This approach includes the regular evaluation of the nature and extent of risks to which the organisation is exposed. The Compliance and Risk Panel and our Trustee have continued to work together to assess the quantification of our risk appetite and have produced the following Risk Appetite statement:
“The Trustee recognises that the NCAC’s activities involve risk and the taking of appropriately identified, evaluated and controlled risks in pursuit of business objectives is acceptable, particularly in pursuing business opportunities for the benefit of NCAC and its customers.”
The risk based approach is consistent with best practice across the sector.
The process adopted by the Trustee in reviewing the effectiveness of the system of internal control, together with some of the key elements of the control framework, includes:
-
The annual review of the Risk Management Strategy and Framework, and biannual review of strategic risk maps is an ongoing process for identifying and managing significant risks faced by the organisation. This process has been in place throughout the year under review, up to the date of the Annual Report and Accounts, and is regularly reviewed by the Trustee.
-
In addition, the Compliance and Risk Panel annually sets a plan to demonstrate to the Executive team, Audit and Risk Committee and Trustee how it intends to deliver its risk management objectives during the year.
-
The NCHA Group and the NCAC Trustee approved a new Risk Management Framework in 2021, which replaced our existing risk management procedure and ensured that our risk management processes are consistent with the National Housing Code of Governance, which is adopted by NCHA. We will review this Framework in 2022/23 alongside the newly published National Housing Federation Risk and Assurance Guide. In addition, an Internal Audit review and sector benchmark of our risk management activity was scheduled to take place in Q1 2022/23.
7
Nottingham Community Almshouse Charity
NCAC strategic risks
Our strategic risk map, reviewed biannually by the Trustee, addresses the risks associated with the following objectives, as outlined within our Group Corporate Plan:
-
Failure to comply with charity law, Charity Commission policies and procedures and the rules set out in the Charity’s governing document.
-
Failure to remain viable by not meeting budgetary targets.
Plans for future periods
In future periods the Charity intends to continue to provide current activities in support of the Charity’s objectives.
Post balance sheet events
Structure, governance and management
The Charity is governed by a Charity Commission scheme.
Nottingham Community Housing Association Limited (NCHA) is the Sole Corporate Trustee of the Charity. Sylvia Gough is the Clerk to the Trustee. The day to day management and activities of the Charity are carried out by employees of NCHA.
Reserves policy
It is the policy of the Charity not to designate any of its reserves for any specific purpose, other than the required Social Housing Grant Reserve. Targets are set by the Trustee as part of the budgeting process. In the event of a shortfall the Trustee considers plans to make good where appropriate. Similarly, where an excess is achieved the Trustee considers plans on how best to utilise this.
The Charity Commission defines free reserves as total unrestricted funds less tangible fixed assets for charity use less amounts designated for essential future spending. On this basis the Charity has free reserves of £398,272 (restated 2021 - £431,599).
We consider that there have been no events since the financial year end which have a material effect on the financial position of the Charity.
8
Report of the Trustee
Investments
Control of investments is placed with NCHA’s Director of Finance and Resources and Chief Executive. The value of investments will be dictated by the business cash flow requirements and proposed development plans. The exact amount of investments will vary from time to time and will be kept available to meet all liquidity requirements.
The Charity will maintain a list of institutions with whom it will invest.
The Director of Finance and Resources will liaise with external consultants to receive regular updates on the credit standing of the preferred list and will be authorised to add or remove firms as seen fit.
When significant funds are available to invest (typically greater than £5m) the Director of Finance and Resources will approach at least two of the preferred institutions to establish the best possible terms available. The funds will then be invested in accordance with the terms of this policy at the best rates available.
In exceptional circumstances, where the Charity is holding large cash balances, the Director of Finance and Resources will seek to increase the diversity of investment counterparties through the use of Public Debt Constant Net Asset Value and Low Volatility Net Asset Value Money Market Funds and Deposit Funds.
Investments held by the Trust are managed by M & G Securities Limited at PO Box 9038, Chelmsford, England CM99 2XF and CCLA Investment Management at Senator House, 85 Queen Victoria Street, London, EC4V 4ET.
Statement of Trustee’s responsibilities in respect of the accounts
The Trustee is responsible for preparing the Trustee’s Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the Trustee to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources of the Charity for that period. In preparing these financial statements, the Trustee is required to:
-
Select suitable accounting policies and then apply them consistently
-
Observe the methods and principles in the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)
-
Make judgements and estimates that are reasonable and prudent
-
State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements
-
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation.
9
Nottingham Community Almshouse Charity
Statement of Trustee’s
responsibilities in respect of the accounts (continued)
The Trustee is responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable it to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust
deed. The Trustee is also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustee is responsible for the maintenance and integrity of the Charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
So far as the Trustee is aware there is no relevant auditor information of which the auditors are unaware. The Trustee has taken all steps it ought to have taken as Trustee in order to make itself aware of any relevant audit information and to establish that the auditors are aware of that information.
Related parties
NCHA is the Sole Corporate Trustee of Nottingham Community Almshouse Charity. Its registered address, where consolidated accounts can be obtained, is 12-14 Pelham Road, Nottingham, NG5 1AP.
NCHA is registered as a charitable social landlord under the Co-operative and Community Benefit Societies Act 2014 and is registered with the Regulator of Social Housing. It was first registered on the 22 March 1973 for the benefit of the community. NCHA operates mainly within the East Midlands and has three regional offices and a number of satellite offices across the East Midlands. Its head office is in Nottingham.
NCHA’s principal activities are the management, maintenance, improvement and development of social housing together with the provision of care and support services for those people within communities across the East Midlands with additional needs.
Going concern
After making enquiries, the Trustee has a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, it continues to adopt the going concern basis in preparing the financial statements.
The report of the Trustee was approved on 9 November 2022 and signed on its behalf by:
Sylvia Gough Clerk to the Trustee
10
Report of the Independent Auditor to the Trustee
Report of the Independent Auditor to the Trustee
11
Nottingham Community Almshouse Charity
Opinion
We have audited the financial statements of Nottingham Community Almshouse Charity (the ‘Charity’) for the year ended 31 March 2022 which comprise the Statement of Financial Activities, Statement of Financial Position, Statement of Changes in Reserves and the Statement of Cash Flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
-
Give a true and fair view of the state of the Charity’s affairs as at 31 March 2022 and of its incoming resources and application of resources for the year then ended
-
Have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice
-
Have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We have been appointed as auditors under section 144 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act.
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs
(UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
12
Report of the Independent Auditor to the Trustee
Other information
The other information comprises the information included in the Report of the Trustee other than the financial statements and our auditor’s report thereon. The Trustees are responsible for the other information contained within the Report of the Trustee. Our opinion on the financial statements does not cover the other information and, we do not express any form of assurance conclusion thereon.
Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Matters on which we are
required to report by exception
-
The information given in the financial statements is inconsistent in any material respect with the Report of the Trustee
-
Sufficient accounting records have not been kept
-
• The financial statements are not in agreement with the accounting records and returns
-
We have not received all the information and explanations we require for our audit
-
The financial statements are not in agreement with the accounting records and returns.
Responsibilities of Trustees
As explained more fully in the Statement of Trustees’ responsibilities set out on pages 8-9, the Trustee is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustee determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustee is responsible for assessing the Charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustee either intends to liquidate the Charity or to cease operations, or have no realistic alternative but to do so.
We have nothing to report in respect of the following matters where the Charities Act 2011 requires us to report to you if, in our opinion:
13
Nottingham Community Almshouse Charity
Auditor’s responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which the audit was considered capable of detecting irregularities including fraud
Irregularities are instances of non-compliance with laws and regulations. The objectives of our audit are to obtain sufficient appropriate audit evidence regarding compliance with laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements, to perform audit procedures to help identify instances of non-compliance with other laws and regulations that may have a material effect on the financial statements, and to respond appropriately to identified or suspected non-compliance with laws and regulations identified during the audit.
assessed risks of material misstatement due to fraud through designing and implementing appropriate responses and to respond appropriately to fraud or suspected fraud identified during the audit.
However, it is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the entity’s operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud.
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud, the audit engagement team:
-
Obtained an understanding of the nature of the sector, including the legal and regulatory framework, that the Charity operates in and how the Charity is complying with the legal and regulatory framework
-
Inquired of management, and those charged with governance, about their own identification and assessment of the risks of irregularities, including any known actual, suspected or alleged instances of fraud
-
Discussed matters about non-compliance with laws and regulations and how fraud might occur including assessment of how and where the financial statements may be susceptible to fraud.
In relation to fraud, the objectives of our audit are to identify and assess the risk of material misstatement of the financial statements due to fraud, to obtain sufficient appropriate audit evidence regarding the
14
Report of the Independent Auditor to the Trustee
Auditor’s responsibilities for the audit of the financial statements (continued)
As a result of these procedures we consider the most significant laws and regulations that have a direct impact on the financial statements are FRS 102, Charities SORP (FRS 102), Charities Act 2011, the parent charity’s governing document, tax legislation and Charities (Protection and Social Investment) Act 2016.We performed audit procedures to detect noncompliances which may have a material impact on the financial statements which included reviewing the financial statements including the Trustees’ Report, remaining alert to new or unusual transactions which may not be in accordance with the governing documents, inspecting correspondence local tax authorities and evaluating advice received from internal/external advisors
The most significant laws and regulations that have an indirect impact on the financial statements are those in relation to the General Data Preotection
Regulations and Health and Safety legislation. We performed audit procedures to inquire of management and those charged with governance whether the entity is in compliance with these law and regulations and inspected correspondence with regulatory authorities
The audit engagement team identified the risk of management override of controls as the areawhere the financial statements were most susceptible to material misstatement due to fraud. Audit procedures performed included but were not limited to testing manual journal entries and other adjustments, evaluating the business rationale in relation to significant, unusual transactions and transactions entered into outside the normal course of business, challenging judgments and estimates .
A further description of our responsibilities for the audit of the financial statements is provided on the Financial Reporting Council’s website at http://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
15
Nottingham Community Almshouse Charity
Use of our report
This report is made solely to the Charity’s Trustees as a body, in accordance with the Charities Act 2011. Our audit work has been undertaken so that we might state to the Charity’s Trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charity and the Charity’s Trustees as a body, for our audit work, for this report, or for the opinions we have formed.
11 November 2022
For and on behalf of RSM UK Audit LLP, Statutory Auditor,
RSM UK Audit LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.
RSM UK Audit LLP 10th Floor, 103 Colmore Row, Birmingham, West Midlands, B3 3AG
16
StaNo te s to the Financial Stament of Financial Ac t ivitiem e nts s
Statement of Financial Activities
17
Nottingham Community Almshouse Charity
Statement of Financial Activities
(including Income and Expenditure Account)
| For the year ended 31 March 2022 ~~a~~ |
For the year ended 31 March 2022 ~~a~~ |
Unrestricted General Fund 2022 |
Unrestricted General Fund 2021 Restated |
|---|---|---|---|
| ~~a~~ | Note ~~a~~ |
£ | £ |
| Income from ~~a~~ |
|||
| Maintenance contributions net of identifiable service charges ~~ef~~ ~~SEE~~ ~~nEnEEnEEE~~ |
~~ef~~ ~~nEnEEnEEE~~ |
662,757 ~~ef~~ ~~EERE~~ |
644,078 ~~ef~~ ~~EERE~~ |
| Less voids ~~ef~~ ~~SEE~~ ~~nEnEEnEEE~~ |
~~ef~~ ~~nEnEEnEEE~~ |
(18,085) ~~ef~~ ~~EERE~~ |
(5,015) ~~ef~~ ~~EERE~~ |
| Other income ~~SEE~~ ~~nEnEEnEEE~~ ~~ee~~ |
2 ~~nEnEEnEEE~~ |
118 ~~EERE~~ |
- ~~EERE~~ |
| Interest receivable ~~SEE~~ ~~nEnEEnEEE~~ ~~ee~~ |
2 ~~nEnEEnEEE~~ |
26,192 ~~EERE~~ |
27,640 ~~EERE~~ ~~ee~~ |
| Unrealised surplus on revaluation of investments ~~ee~~ ~~ee~~ |
8 ~~ee~~ |
20,501 ~~ee~~ |
131,283 ~~ee~~ ~~ee~~ |
| Total income ~~eS~~ |
~~eS~~ | 691,483 ~~eS~~ |
797,986 ~~ee~~ ~~eS~~ |
| ~~eS~~ | |||
| Expenditure on | |||
| Management ~~ef~~ |
~~ef~~ | (128,030) ~~ef~~ |
(128,164) ~~ef~~ |
| Service charge costs ~~a~~ |
~~ee~~ | (88,935) ~~ee~~ |
(67,541) |
| Repairs and maintenance ~~a ~~ ~~SS~~ |
~~ee~~ | (349,309) ~~ee~~ |
(230,747) |
| Rent losses from bad debts ~~SS~~ |
(20) | (5,234) | |
| Depreciation of housing properties ~~SS~~ |
7 | (99,824) | (114,560) |
| Interestpayable and similar charges ~~SS~~ ~~ee~~ ~~ee~~ |
3 ~~ee~~ ~~ee~~ |
(4,527) ~~ee~~ |
(18,427) ~~ee~~ |
| Annuitants ~~ee~~ |
4 ~~ee~~ |
(11,570) | (11,310) |
| Total expenditure ~~ee~~ |
~~ee~~ | (682,215) | (575,983) |
| ~~ee~~ | |||
| Net income ~~NN~~ |
~~NN~~ | 9,268 ~~NN~~ |
222,003 ~~NN~~ |
| Net movement in funds ~~NN~~ |
~~NN~~ | 9,268 ~~NN~~ |
222,003 ~~NN~~ |
| Reconciliation of funds | |||
| Total funds brought forward ~~>~~ |
~~>~~ | 3,840,259 ~~>~~ |
3,618,256 ~~>~~ |
| Permanent Endowment Revaluation ~~>~~ |
~~>~~ | 35,230 ~~>~~ |
- ~~>~~ |
| ~~EE~~ | |||
| Total funds carried forward ~~EE~~ |
~~EE~~ | 3,884,757 ~~EE~~ |
3,840,259 ~~EE~~ |
The results relate wholly to continuing activities and the notes on pages 25 to 37 form an integral part of these accounts. The financial statements of pages 17 to 37 were approved and authorised for issue by the Trustee on 9 November 2022 and were signed on its behalf by:
FCN
Sylvia Gough Clerk to the Trustee
Signed on behalf of Nottingham Community Housing Association Limited (Sole Corporate Trustee)
18
StaNo te s to the Financial Statements ment of Financial Position
Statement of Financial Position
19
Nottingham Community Almshouse Charity
Statement of Financial Position
| Statement of Financial Position | Statement of Financial Position | ||
|---|---|---|---|
| As at 31 March 2022 ~~Se~~ ~~a~~ ~~GO~~ |
2022 | 2021 Restated |
|
| ~~a~~ | Note ~~GO~~ |
£ | £ |
| Fixed assets ~~a~~ ~~GO~~ |
|||
| Tangible fixed assets: (housing properties) ~~C—O~~ |
7 ~~C—O~~ |
2,986,435 ~~C—O~~ |
2,943,841 ~~C—O~~ |
| Investments ~~C—O~~ OO™O™OCOCOCOSC“‘“RNNSNNCSdSO ~~Pp~~ |
8 ~~C—O~~ OO™O™OCOCOCOSC“‘“RNNSNNCSdSO ~~Pp~~ |
791,559 ~~C—O~~ OO™O™OCOCOCOSC“‘“RNNSNNCSdSO ~~Pp~~ |
733,083 ~~C—O~~ OO™O™OCOCOCOSC“‘“RNNSNNCSdSO ~~Pp~~ |
| Total fixed assets ~~Pp~~ |
~~Pp~~ | 3,777,994 ~~Pp~~ |
3,676,924 ~~Pp~~ |
| ~~Pp~~ | |||
| Current assets ~~Pp~~ |
|||
| Debtors ~~a~~ ~~CT~~ |
9 ~~a~~ |
31,104 ~~a~~ |
13,215 ~~a~~ |
| Short term deposit ~~CT~~ Ot™~—“C...C.CC“‘(sdSUSSOO™~CSOCSYSSSSSCSCS ~~CT~~ |
Ot™~—“C...C.CC“‘(sdSUSSOO™~CSOCSYSSSSSCSCS | 35,675 Ot™~—“C...C.CC“‘(sdSUSSOO™~CSOCSYSSSSSCSCS |
29,878 Ot™~—“C...C.CC“‘(sdSUSSOO™~CSOCSYSSSSSCSCS |
| Cash at bank and in hand ~~CT~~ ~~CT~~ ~~™~“—OO..C‘dsLSOCPTCdSOOCOCOCOCCS~~ |
~~™~“—OO..C‘dsLSOCPTCdSOOCOCOCOCCS~~ | 256,283 ~~™~“—OO..C‘dsLSOCPTCdSOOCOCOCOCCS~~ ~~a~~ |
266,799 ~~™~“—OO..C‘dsLSOCPTCdSOOCOCOCOCCS~~ |
| Total current assets ~~CT~~ ~~™~“—OO..C‘dsLSOCPTCdSOOCOCOCOCCS~~ ~~Ga~~ |
~~™~“—OO..C‘dsLSOCPTCdSOOCOCOCOCCS~~ ~~Ga~~ |
323,062 ~~™~“—OO..C‘dsLSOCPTCdSOOCOCOCOCCS~~ ~~Ga~~ ~~a~~ |
309,892 ~~™~“—OO..C‘dsLSOCPTCdSOOCOCOCOCCS~~ ~~Ga~~ |
| ~~a~~ | |||
| Creditors | |||
| Amounts falling due within one year ~~C—S~~ ~~————~~ |
10 ~~C—S~~ ~~————~~ |
(71,288) ~~C—S~~ ~~————~~ |
(146,557) ~~C—S~~ ~~Ee~~ |
| Net current assets ~~C—S~~ ~~————~~ |
~~C—S~~ ~~————~~ |
251,774 ~~C—S~~ ~~————~~ |
163,335 ~~C—S~~ ~~Ee~~ |
| ~~————~~ ~~Ee~~ |
|||
| Creditors ~~————~~ ~~Ee~~ |
|||
| Amounts falling due after more than one year ~~C—S~~ ~~————~~ |
11 ~~C—S~~ ~~————~~ |
(145,011) ~~C—S~~ ~~————~~ |
- ~~C—S~~ ~~Ee~~ |
| Net assets ~~————~~ |
~~————~~ | 3,884,757 ~~————~~ |
3,840,259 ~~Ee~~ |
| ~~————~~ ~~Ee~~ |
|||
| Funds of the Charity ~~————~~ ~~Ee~~ |
|||
| Unrestricted General Fund ~~a~~ ~~CT~~ |
~~a~~ ~~G~~ |
2,888,316 ~~a~~ |
2,879,048 ~~a~~ |
| Permanent Endowment ~~a~~ ~~CT~~ |
13 ~~a~~ ~~G~~ |
500,049 ~~a~~ |
464,819 ~~a~~ |
| Social Housing Grant Reserve ~~CT~~ O™~—“C....C‘d(NWS‘RSCNSSCt‘“‘(CS*YLTONOCOCSC‘<CS ~~CT~~ |
12 ~~G~~ O™~—“C....C‘d(NWS‘RSCNSSCt‘“‘(CS*YLTONOCOCSC‘<CS |
496,392 O™~—“C....C‘d(NWS‘RSCNSSCt‘“‘(CS*YLTONOCOCSC‘<CS ~~sad~~ |
496,392 O™~—“C....C‘d(NWS‘RSCNSSCt‘“‘(CS*YLTONOCOCSC‘<CS ~~sad~~ |
| Total funds of the Charity ~~CT~~ ~~CT™~—COCOCOC“‘(SNSNNs~~ |
~~G~~ ~~™~—COCOCOC“‘(SNSNNs~~ |
3,884,757 ~~™~—COCOCOC“‘(SNSNNs~~ ~~sad~~ |
3,840,259 ~~™~—COCOCOC“‘(SNSNNs~~ ~~sad~~ |
The notes on pages 25 to 37 form an integral part of these accounts. The financial statements on pages 17 to 37 were approved and authorised for issue by the Trustee on 9 November 2022 and were signed on its behalf by:
Sylvia Gough Clerk to the Trustee
Signed on behalf of Nottingham Community Housing Association Limited (Sole Corporate Trustee)
20
Statement of Changes in Reserves Position
Statement of Changes in Reserves
21
Nottingham Community Almshouse Charity
Statement of Changes in Reserves
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For the year ended Income and Social Permanent Total
Expenditure Housing Endowment
31 March 2022
Grant
£ £ £ £
-
Original balance at 31 March 2020 3,121,864 496,392 3,618,256
Surplus from Statement of Financial - -
222,003 222,003
Activities
-
Original balance at 31 March 2021 3,343,867 496,392 3,840,259
Transfer to Permanent Endowment (464,819) - 464,819 -
Balance at 31 March 2021 (Restated) 2,879,048 496,392 464,819 3,840,259
Surplus from Statement of Financial -
9,268 35,230 44,498
Activities
Balance at 31 March 2022 2,888,316 496,392 500,049 3,884,757
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The notes on pages 25 to 37 form an integral part of these accounts.
22
Statement of Cash Flows
Statement of Cash Flows
23
Nottingham Community Almshouse Charity
Statement of Cash Flows
----- Start of picture text -----
As at 31 March 2022 2022 2021
Combined
£ £
Cash flows from operating activities
Net movement in funds 9,268 222,003
Adjustments for:
Interest receivable (26,192) (27,640)
Interest payable and similar charges 4,527 18,427
Unrealised (surplus) on revaluation of investments (20,501) (131,283)
Depreciation of housing properties 99,824 114,560
(Decrease)/increase in debtors (17,889) 16,590
(Increase)/decrease in creditors (70,584) 50,931
-
(Increase) in provisions (4,430)
Net cash generated from operating activities (21,547) 259,158
Cash flow from investing activities
Purchase of tangible fixed assets (142,418) (113,545)
Interest received 23,448 24,724
Net cash from investing activities (118,970) (88,821)
Cashflow from financing activities
Interest paid (3,375) (12,465)
-
Newly secured loans 150,000
Loan issue fees (7,676) (5,962)
Repayment of borrowing (3,151) (455,814)
Net cash from financing activities 135,798 (474,241)
Net change in cash and cash equivalents (4,719) (303,904)
Cash and cash equivalents at the beginning of the year 296,677 600,581
Cash and cash equivalents at the end of the year 291,958 296,677
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24
Notes to the Financial Statements
Notes to the Financial Statements
Legal status
The Charity is an unincorporated charity registered in England and Wales with the National Almshouse Association and the Charity Commission. The registered office is 12-14 Pelham Road, Nottingham, NG5 1AP.
25
Nottingham Community Almshouse Charity
1. Principal accounting policies
(a) Basis of accounting
The Charity’s financial statements have been prepared in accordance with applicable United Kingdom Accounting Generally Accepted Accounting Practice (UK GAAP) and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to Charities preparing their accounts in accordance with Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 October 2019) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The accounts are prepared on the historical cost basis of accounting except as modified by the revaluation of investments and are presented in rounded pounds sterling.
In applying FRS 102 the Charity meets the definition of a public benefit entity.
(b) Going concern
The Charity’s financial statements have been prepared on a going concern basis which assumes an ability to continue operating for the foreseeable future based on the levels of anticipated income, expenditure and the funds of the Charity.
(c) Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the date of the Statement of Financial Position and the amounts reported for revenue and expenses during the financial year. However, the nature of estimation means that the actual outcomes could differ from those estimates. The following judgements (apart from those involving estimates) have had the most significant effect on the amounts recognised in the financial statements:
-
i. Categorisation of housing properties. The Charity has undertaken a detailed review of the intended use of all housing properties. In determining the intended use, the Charity has considered if the asset is held for social benefit or to earn commercial rentals.
-
ii. The Charity has reviewed the useful economic lives of its housing properties and depreciates the property cost, less freehold land and residual value, for all housing properties.
Reviews for impairment of housing properties are carried out when a trigger has occurred and any impairment loss in a cash generating unit is recognised by a charge to the Statement of Financial Activities. Impairment is recognised where the carrying value of a cash generating unit exceeds the higher of its net realisable value or its value in use. The Charity has identified a cash generating unit for impairment assessment purposes at a property programme level. Following a trigger for impairment, the Charity performs impairment tests based on fair value less costs to sell or a value in use calculation. The fair value less costs to sell calculation is based on available data from sales transactions in an arm’s length transaction on similar cash generating units (properties) or observable market prices less incremental costs for disposing of the properties.
26
Notes to the Financial Statements
1. Principal accounting policies (continued)
(c) Judgements and key sources of estimation uncertainty (continued)
The value in use calculation is based on either a depreciated replacement cost or a discounted cash flow model. The depreciated replacement cost is based on available data of the cost of constructing or based on either a depreciated replacement cost or a discounted cash flow model. The depreciated replacement cost is based on available data of the cost of constructing or acquiring replacement properties to provide the same level of service potential to the Charity as the existing property. The cash flows are derived from the business plan for the next 30 years and do not include restructuring activities that the Charity is not yet permitted to or significant future investments that will enhance the asset’s performance of the cash generating unit being tested. The recoverable amount is most sensitive to the discount rate used for the discounted cash flow model as well as the expected future cash flows and the growth rate used for extrapolation purposes. Following the assessment of impairment no impairment losses were identified in the reporting period.
(d) Turnover and revenue recognition
Turnover represents maintenance contributions income receivable (less loss of maintenance contributions due to voids) and other charges receivable and other income and is recognised in relation to the period when the goods and services have been supplied.
Maintenance contributions are recognised when the property is available for let, net of voids. 2021-2022 is a 52 rent week year. 2020-2021 was a 52 rent week year.
(e) Loan interest costs
Loan interest costs are calculated using the effective interest method of the difference between the loan amount at initial recognition and amount of maturity of the related loan.
(f) Loan finance issue costs
These are amortised evenly over the life of the related loan. Loans are stated in the Statement of Financial Position at the amount of net proceeds after issue, plus any increases to account for any subsequent amounts amortised. Where loans are redeemed in the year, any redemption penalty and any connected loan finance issue costs are recognised in the Statement of Financial Activities in the year in which the redemption took place.
(g) Provision for bad debts
A provision for maintenance contributions debts becoming irrecoverable is made against 100% of former customer arrears and 50% of current customer arrears for all customers more than six weeks in arrears.
27
Nottingham Community Almshouse Charity
1. Principal accounting policies (continued)
(h) Corporation Taxation
The Association has charitable status and is exempt from UK Corporation Tax under section 531 of the Income Tax Act 2007.
(i) Value Added Tax
Nottingham Community Almshouse Charity is not registered for value added tax. In these financial statements, where applicable, expenditure is shown inclusive of VAT.
(j) Housing properties, depreciation and impairment
Social housing
The Charity has reviewed the useful economic lives of its housing properties and depreciates the property cost, less freehold land and residual value, for all housing properties other than those held on an investment basis. Housing properties were merged on the basis of historic cost.
Future estimated lives have been determined as follows:
| New build houses | 100 years |
|---|---|
| New build fats and rehabilitated houses | 75 years |
| Rehabilitated fats | 60 years |
Where a housing property consists of two or more major components with substantially different useful economic lives, each component is accounted for separately and depreciated over its useful economic life. Expenditure relating to the subsequent replacement or renewal of components is capitalised as incurred.
Depreciation is charged in equal annual instalments over the assets expected useful economic lives. The useful economic lives for the identified components are as follows:
| The useful economic lives for the identifed components | are as follows: |
|---|---|
| Freehold land | Not depreciated |
| Structure: new build houses | 100 years |
| Structure: new build fats and rehabilitated houses | 75 years |
| Structure: rehabilitated fats | 60 years |
| Roof | 50 years |
| Lifts | 50 years |
| Windows and doors | 40 years |
| Alternative energy systems | 25 years |
| Bathroom | 25 years |
| Kitchen | 20 years |
| Heating system | 20 years |
| Disabled adaptions | 20 years |
28
Notes to the Financial Statements
1. Principal accounting policies (continued)
(k) Other fixed assets
All other fixed assets are stated at cost less accumulated depreciation. Depreciation is provided on all non-housing property fixed assets, to write off the cost less estimated residual value over their useful economic lives on the following methods:
Other fixed assets
Equal annual instalments 10 years
The useful economic lives of tangible fixed assets are reviewed annually.
(l) Fixed asset investments
The Charity holds fixed asset investments. These are shown at full market valuation at each balance sheet date. Any gains and losses on re-measurement are disclosed in the Statement of Financial Activities for the period.
(m) Short-term debtors and creditors
Debtors and creditors without any stated interest terms which are receivable or payable within one year are recorded at the transaction price. Should any losses be incurred as a result of impairment, these would be immediately recognised as other operating expenses in the Statement of Financial Activities.
(n) Social Housing Grants
In accordance with the Charities SORP (FRS 102), grants received from government have been treated as income and added to reserves. The fund is held separately from unrestricted reserves reflecting the possibility of a repayment demand in certain circumstances from the Regulator of Social Housing.
(o) Financial instruments
The Charity holds fixed assets investments, short term debtors and creditors, loans and cash as financial instruments. The method of measurement for fixed assets investments and short term debtors and creditors are detailed above. Loans are held at contractual value. Cash is held at current value.
29
Nottingham Community Almshouse Charity
2. Interest receivable and other income
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2022 2021
Restated
£ £
Bank deposit interest 15 869
Investment income 26,177 26,771
Other income 118 -
Total 26,310 27,640
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3. Interest payable and similar charges
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2022 2021
Restated
£ £
Loan interest payable 3,375 12,385
Loan arrangement fee 1,152 5,962
Total 4,527 18,347
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4. Annuitants
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2022 2021
Restated
No. No.
The total number of annuitants at the end of the accounting period 23 23
£ £
The cost of annuitants in force at the end of the accounting period 11,440 11,310
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5. Net income for the year
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Net income for the year is stated after charging 2022 2021
Restated
£ £
Depreciation 99,824 114,560
Auditors’ remuneration (excluding VAT) in their capacity as auditors 4,450 3,380
Management fee to Trustee (including VAT) 112,665 105,622
Maintenance fee to Trustee (including VAT) 45,560 32,979
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30
Notes to the Financial Statements
6. Taxation
Nottingham Community Almshouse Charity is a registered Charity and is, therefore, exempt from liability to taxation on its income and capital gains.
7. Tangible fixed assets
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2022
Completed Other Total
- housing fixed
properties assets
(freehold)
£ £ £
Cost
-
1 April 2021 (Restated) 3,692,144 3,692,144
Additions 142,418 - 142,418
-
Disposal of components (18,578) (18,578)
31 March 2022 3,815,984 - 3,815,984
Depreciation
-
1 April 2021 (Restated) 748,303 748,303
-
Charge for the year 99,824 99,824
-
Less disposals during year (18,578) (18,578)
31 March 2022 829,549 - 829,549
Net book value
31 March 2022 2,986,435 - 2,986,435
-
31 March 2021 (Restated) 2,943,841 2,943,841
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The net book value of charged assets at 31 March 2022 was £1,308,705 (31 March 2021 - £1,298,263).
31
Nottingham Community Almshouse Charity
8. Investments
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2022 2021
CRestated
£ £
Market value at start of year 733,083 598,884
Accumulated dividends during year 2,745 2,916
Revaluation 55,731 131,283
Market value at end of year 791,559 733,083
The investment at market value comprises
Unlisted
436,383 (2021 - 436,383) M&G Multi Asset Fund Income shares 400,949 374,853
846 (2021- 846) M&G Multi Asset Fund Accumulation shares 90,119 81,214
3,029 (2021- 3,029) M&G Charifund Income shares 47,853 44,603
12,655 (2021 - 12,655) COIF Income units 246,446 226,866
26.78 (2021 – 26.78) COIF Accumulation units 6,192 5,547
Market value at 31 March 2022 and 31 March 2021 791,559 733,083
Cost at start of year 1 April 2021 271,291 268,375
Accumulated dividends during year 2,745 2,916
Cost at end of year 31 March 2022 274,036 271,291
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Investments are revalued annually on 31 March taking the values published on the respective websites.
9. Debtors
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2022 2021
CRestated
£ £
Maintenance contribution receivable 27,934 20,313
Less provision for bad debts (9,367) (9,373)
Other debtors and prepayments 12,537 2,275
Total 31,104 13,215
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32
Notes to the Financial Statements
10. Creditors: amounts falling due within one year
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2022 2021
CRestated
£ £
Maintenance contributions received in advance 9,926 9,861
Amount due to the Trustee 15,413 14,307
-
Loans due within one year 3,151
-
Loan issue cost within one year (1,536)
Other creditors and accruals 47,485 119,238
Total 71,288 146,557
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11. Creditors: amounts falling due after more than one year
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2022 2021
Restated
£ £
Housing loans including loan finance issue costs 150,000 -
-
Loan finance issue cost (4,989)
Total 145,011 -
Housing loans are repayable in instalments falling due as detailed below
In less than one year (1,536) 3,151
-
Between one and two years (1,536)
Between two and five years 146,547 -
In five years or more - -
Total housing loans 143,475 3,151
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There were two housing loans secured by specific charges on the Charity’s housing properties. One was repaid in June 2021. A new loan was taken out in June 2021 for £150,000 from Svenska Handelsbanken.
The average interest rate was 8.37%.
33
Nottingham Community Almshouse Charity
12. Social Housing Grant Reserve
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2022 2021
CRestated
£ £
Social Housing Grant 496,392 496,392
Total Housing Grant 496,392 496,392
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13. Permanent endowment
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2022 2021
Restated
£ £
Transfer from Nottingham Annuity Charity 464,819 464,819
Revaluation of investments 35,230 -
Total 500,049 464,819
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The permanent endowment is held for the purpose of generating income to cover the payments of annuities in perpetuity.
14. Capital commitments
At 31 March 2022 and 2021, there were no capital commitments.
15. Contingent liabilities
At 31 March 2022 and 2021, there were no known contingent liabilities.
16. Housing properties and maintenance contribution
The number of properties managed as at 31 March 2022 was 148. (2021 restated - 148).
17. Ultimate controlling party, staff costs, directors’ emolumentsand related parties
Nottingham Community Housing Association Limited is the Sole Corporate Trustee of Nottingham Community Almshouse Charity. Its registered address, where consolidated accounts can be obtained, is 12-14 Pelham Road, Nottingham, NG5 1AP.
Nottingham Community Housing Association Limited (NCHA) is registered as a charitable social landlord under the Co-operative and Community Benefit Societies Act 2014 and is registered with the Regulator of Social Housing. It was first registered on the 22 March 1973 for the benefit of the community. NCHA operates mainly within the East Midlands and has three regional offices and a number of satellite offices across the East Midlands. Its head office is in Nottingham.
NCHA’s principal activities are the management, maintenance, improvement and development of social housing together with the provision of care and support services for those people within communities across the East Midlands with additional needs.
34
Notes to the Financial Statements
17. Ultimate controlling party, staff costs, directors’ emoluments and related parties (continued)
Services are secured from the ultimate parent. The key employees of the ultimate parent are its Executive team:
Paul Moat DMS, MBA, MRICS, BSc (Hons) Chief Executive
-
The NCHA Group Leadership
-
Corporate Governance
-
Risk
-
Health and Safety
Allan Fisher BSc (Hons), PG (DIP), MSc Director of Development and Assets
-
Development
-
Sales
-
Property Services
-
Environmental Sustainability
Holly Dagnall BA (Hons), PG (DIP), MSc Director of Homes and Wellbeing
-
Affordable Social Housing Almshouse Charities
-
Sub Market Rent Equality, Diversity and Inclusion
-
Shared Ownership Social Impact
-
Care and Support
Naomi Dobraszczyc BA (Hons) ACA Director of Finance and Resources
Finance
-
People
-
Marketing Communications
-
Procurement
-
Technology Information and Intelligence
-
Transformation Value for Money
The directors of the Sole Corporate Trustee are the key management personnel of the Charity. They receive no payment for their role in the Charity.
The Charity receives management and financial services from NCHA. These services include the handling and settling of the majority of Nottingham Community Almshouse Charity’s invoices on behalf of the Charity and NCHA recharges the Charity for the invoiced amount. The Charity paid £112,665 for the management by the Trustee (2021 restated - £105,622) and £45,560 for the maintenance by the Trustee (2021 restated - £32,979). At the end of the accounting year there is a creditor balance of £15,413 payable to NCHA (2021 restated - £14,307).
35
Nottingham Community Almshouse Charity
18. Post balance sheet events
We consider that there have been no events since the financial year end which have a material effect on the financial position of the Charity.
19. Financial instruments
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2022 2021
CRestated
£ £
Assets measured at fair value
Investment 791,559 733,083
Assets measured at amortised cost
Maintenance contributions net of provision for bad debt 18,567 10,940
Other debtors and prepayments 12,537 2,275
Cash at bank and in hand 291,958 296,677
Total 1,114,621 1,042,975
Liabilities measured at amortised cost
-
Loan finance falling due after more than one year 145,011
Loan finance falling due within one year (1,536) 3,151
Amount due to the Trustee 15,413 14,307
Other creditors and accruals due within one year 47,485 119,238
Total 206,373 136,696
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36
Notes to the Financial Statements
20. Analysis of principal SoFA components for 2020/21
----- Start of picture text -----
Nottingham William Crane Nottingham Combined
Community Trust Annuity Charity total
Almshouse Pre-merger Pre-merger
Charity
Pre-merger
£ £ £ £
Total income 630,683 19,038 16,982 666,703
Total expenditure (542,023) (19,193) (14,767) (575,983)
Net income/(expenditure) 88,660 (155) 2,215 90,720
Other gains/(losses) 39,311 9,474 82,498 131,283
Net movement in funds 127,971 9,319 84,713 222,003
Total funds brought forward 3,175,364 42,761 400,131 3,618,256
Total funds carried forward 3,303,335 52,080 484,844 3,840,259
21. Analysis of principal SoFA components for 2021/22
Nottingham Nottingham Nottingham Combined
Community Annuity Charity Community total
Almshouse Almshouse
Charity Pre-merger Charity (20/08/21-
(01/04/21- 31/03/22)
Pre-merger
19/08/21) Post-merger
(01/04/21-
(20/08/21-
19/08/21)
31/03/22)
£ £ £ £
Total income 249,425 3,992 417,565 670,982
Total expenditure (175,636) (3,501) (503,079) (682,216)
Net income/(expenditure) 73,789 491 (85,514) (11,234)
Other gains/(losses) 17,555 30,450 (27,503) 20,502
Net movement in funds 91,344 30,941 (113,017) 9,268
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37
Nottingham Community Almshouse Charity
22. Analysis of net assets at the date of merger
----- Start of picture text -----
Nottingham William Crane Nottingham Combined
Community Trust Annuity Charity total
Almshouse
Charity
£ £ £ £
Net assets 3,303,335 52,080 484,844 3,840,259
Represented by
Unrestricted funds 2,806,943 52,080 20,025 2,879,048
Restricted income funds 496,392 - - 496,392
Endowment funds - - 464,819 464,819
Total funds 3,303,335 52,080 484,844 3,840,259
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0800 013 8555
www.ncha.org.uk
- info@ncha.org.uk
Nottingham Community Housing Association 12/14 Pelham Road, Sherwood Rise Nottingham NG5 1AP
@NottsCommHA
/NottinghamCommunityHousingAssociation
An electronic version of this report can be found on our website, www.ncha.org.uk Nottingham Community Housing Association Limited is a charitable community benefit society, registered with the Financial Conduct Authority under number 7104.
Published November 2022 #701