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|Ths porffolio
total return
was -5.9'/o
returns
for the following
indices:|for the y|ear to 31 March 20|23 (2022: +6.1'/0). This co|
|---|---|---|---|
||Year to|31.03.23|Year to31.03.22|
|BD Risk Category 6 Benchmark
FTSE British Government
All Stocks|Index|1 4o/0
-16.3'/0|+9 6'/e
-510/0|
|Iboxx 6Corporate
Bond Index||-10.6'/o|-5.5'/o|
|FTSEAll Share Index
FTSEAll World Ex UK Index||2 9o/o
-0 go/o|13 Oo/o
+ 12.6'/o|
|IA Property
Index
IATargeted Absolute
Return Index||-6 4'/o
+03/|+23.6'/0
2 5o/0|
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|||||Unrestricted|Total|Total|
|---|---|---|---|---|---|---|
|||||funds|funds|funds|
|||||2023|2023|2022|
||||Note|5|5||
|Income from:|||||||
|Donations
and legacies|||3|189,517|189,517|'178,556|
|Chaditable
activities|||4|215,593|215,593|219,505|
|Investments|||5|11,711|11,711|9,473|
|Total income||||416,821|416,821|407,544|
|Expenditure
on:|||||||
|Raising funds||||3,056|3,056|3,390|
|Charitable
activities||||391,942|391,942|391,035|
|Total expenditure||||394,998|394,998|394,425|
|Net income before net (losses)/gains||on|||||
|investments||||21,823|21,823|13,119|
|Net (losses)/gains|on investments|||(43,035)|(43,035)|20,150|
|Net movement
in|funds|||(21,212)|(21,212)|33,279|
|Reconciliation
of|funds:||||||
|Total funds brought|forward|||2,758,391|2,758,391|2,725,112|
|Net movement
in funds||||(21,212)|(21,212)|33,279|
|Total funds carried forward||||2,737,179|2,737,179|2,758,391|
##
|||||Total funds|Total funds|
|---|---|---|---|---|---|
||||Note|2023f|2022f|
|Income||||416,821|407,544|
|Losses/(gains)
on investments||||(43,035)|20,160|
|Gross income
in the reporting
period||||373,786|427,704|
|Less: Total expenditure||||(394,998)|(394,425)|
|Net expenditure/(income)|for the reporting|period||(21,212)|33,279|
|The notes on pages 16to|37form part ofthese financial statements.|||||
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||FOR|THE|YEAR END|ED 31 MARCH 202|3||
|---|---|---|---|---|---|---|
||||||2023|2022f|
|Cash flows from operating|activities||||||
|Net cash used
in operating|activities||||42,686|83,899|
|Cash flows from investing|activities||||||
|Dividends,
interests and rents from investments|||||11,711|9,473|
|Purchase oftangible
fixed assets|||||(100,525)|(50,825)|
|Proceeds from sale of investments|||||31,250|28,462|
|Purchase ofinvestments|||||(38,572)|(34,819)|
|Net cash used in investing|activities||||(96,136)|(47,710)|
|Cash flows from financing|activities||||||
|Net cash provided
by financing
activities|||||||
|Change
in cash and cash|equivalents|in|the year||(53,450)|36,189|
|Cash and cash equivalents|at the beginning||ofthe year||115,191|79,002|
|Cash and cash equivalents|at the end of||the year||61,741|115,191|
|The notes on pages 18to37form part ofthese financial||||statements|||
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|||Unrestricted|Total|
|---|---|---|---|
|||funds|funds|
|||2023f|2023
8|
|Donations||2|2|
|St Mary the Virgin Estate Management|Charity|189,515|189,515|
|||189,517|189,517|
|||Unrestricted|Total|
|||funds|funds|
|||2022|2022|
|||6||
|St Mary the Virgin Estate Management|Charity|178,566|178,566|
##
|Contributions|from|residents|
|---|---|---|
|Contributions|from|residents|
|Unrestricted|Total|
|---|---|
|funds|funds|
|2023|2023|
|8|8|
|215,593|215,593|
|Unrestn'cted|Total|
|funds|funds|
|2022f|2022f|
|219,505|219,505|
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|||||||Unrestricted||
|---|---|---|---|---|---|---|---|
|||||||funds|Total|
|||||||2023|2023|
|||||||E|6|
|Direct|costs|-|Provision|ofsheltered|accommodation|391,942|391,942|
|||||||Unrestricted||
|||||||funds|Total|
|||||||2022|2022|
|||||||E|E|
|Direct|costs|-|Provision|ofsheltered|accommodation|391,035|391,035|
##
||||||Activities|||
|---|---|---|---|---|---|---|---|
||||||undertaken|Support|Total|
||||||directly|costs|funds|
||||||2023|2023
S|2023f|
|Direct|costs|- Provision|ofsheltered|accommodation|349,327|42,615|391,942|
||||||Activities|||
||||||undertaken|Support|Total|
||||||directly|costs|funds|
||||||2022f|2022
E|2022
6|
|Direct|costs|- Provision|ofsheltered|accommodation|338,062|52,973|391,035|
##
##
##
||||Direct costs-||
|---|---|---|---|---|
||||Provision of||
||||sheltered|Total|
||||accommodation|funds|
||||2023|2023|
||||6|6|
|Staff costs|||105,840|105,840|
|Depreciation|||83,053|83,053|
|Water rates|||15,632|15,632|
|Insurance|||5,545|5,545|
|Lighting|and heating||49,205|49,205|
|Repairs and maintenance|||62,264|62,264|
|Upkeep ofgrounds|||14,934|14,934|
|Cleaning|and laundry||3,233|3233|
|Warden|call system||12,480|12,480|
|Sunddes|||3,686|3,686|
|Clerk's salary|||7,493|7,493|
|Housing|Association|grant released|(14,038)|(14,038)|
||||349,327|349,327|
##
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##
|Analysis of|direct|c|osts (continued)||||
|---|---|---|---|---|---|---|
|||||Direct costs-|||
|||||Provision of|||
|||||sheltered||Total|
|||||accommodation||funds|
||||||2022|2022|
|Staff costs||||for,eoe||1or,eoe|
|Depreciation|||||76,339|76,339|
|Water rates|||||13,992|13,992|
|Insurance|||||5,291|5,291|
|Lighting
and|heating||||64,044|64,044|
|Repairs and|maintenance||||49,380|49,380|
|Upkeep ofgrounds|||||11,926|11,926|
|Cleaning
and|laundry||||2,140|2,140|
|Warden
call system|||||13,104|13,104|
|Sundries|||||569|569|
|Clerk's salary|||||7,507|7,507|
|Housing
Association|||grant released||(14,038)|(14,038)|
|||||338,062||338,062|
|Analysis ofsupport|||costs||||
|||||Direct|costs-||
|||||Provlsion of|||
|||||sheltered||Total|
|||||accommodation||funds|
||||||2023|2023|
||||||6|6|
|Staff costs|||||19,827|19,827|
|Sundry expenses|||||443|443|
|Postage, stationery||and advertising|||4,147|4,147|
|Subscriptions|||||4,012|4,012|
|Bank charges|||||846|846|
|Consultancy|and training||||90|80|
|Office insurance|||||687|687|
|Professional|fees||||3,045|3,045|
|Governance|costs||||9,518|9,518|
||||||42,615|42,615|
##
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##
|Analysis of|suppor|t costs (continued)|||
|---|---|---|---|---|
||||Direct costs-||
||||Provision of||
||||sheltered|Total|
||||accommodation|funds|
||||2022|2022|
|Staff costs|||15,692|15,692|
|Sundry expenses|||2,583|2,583|
|Postage, stationery||and advertising|2,326|2,326|
|Subscriptions|||2,467|2,467|
|Bank charges|||843|843|
|Consultancy|and training||120|120|
|Office insurance|||623|623|
|Professional|fees||16,308|16,308|
|Governance|costs||12,011|12,011|
||||52,973|52,973|
##
|||2023
8|2022f|
|---|---|---|---|
|Auditors|remuneration|7,020|9,509|
|Clerk's|fees|2,498|2,502|
|||9,518|12,011|
##
|Schedul
2023|e ofoutgoi|ngs|on properties|- 31 March||||
|---|---|---|---|---|---|---|---|
|||||||Thomas||
||||||Rye Hill|Horsley||
||||||Homes|House|2023|
||||||f|f||
|Water rates|||||5,351|10,281|15,632|
|Insurance|||||2,395|3,150|5,545|
|Lighting|and heating||||17,967|31,238|49,205|
|Repairs|and maintenance||||26,395|35,869|62,264|
|Upkeep|ofgrounds||||5,270|9,664|14,934|
|Cleaning|and laundry||||621|2,612|3,233|
|Warden|call system||||3,783|8,697|12,480|
|Sundries|||||1,537|2,149|3,686|
|Clerk's fees|||||3,246|4,247|7,493|
|Housing|Association|grant received||||(14,038)|(14,038)|
|Wages and salaries|||||41,005|64,835|105,840|
|Depreciation|||||43768|39285|83053|
||||||151338|197989|349327|
|Schedule ofoutgoings|||on properties|-31March||||
|2022||||||||
|||||||Thomas||
||||||Rye Hill|Horsley||
||||||Homes|House|2022|
||||||f|f|f|
|Water rates|||||4,826|9,166|13,992|
|Insurance|||||2,603|2,688|5,291|
|Lighting|and heating||||28,984|35,060|64,044|
|Repairs|and maintenance||||20,285|29,095|49,380|
|Upkeep|ofgrounds||||4,459|7,467|11,926|
|Cleaning|and laundry||||369|1,771|2,140|
|Warden|call system||||3,845|9,259|13,104|
|Sundries|||||538|31|569|
|Clerk's fees|||||3,620|3,887|7,507|
|Housing|Association|grant received||||)
(14,038|(14,038)|
|Wages and salaries|||||44,188|63,620|107,808|
|Depreciation|||||41 518|34821|76339|
||||||155235|182827|338562|
##
|Audit|ors'
remuneration|||||
|---|---|---|---|---|---|
|||||2023f|2022f|
|Fees|payable to the Charity's|current|auditor for the audit ofthe Charity's|||
|annual|accounts|||5,200|8,100|
|Fees
annual|payable to the Charity's
accounts|previous|auditor for the audit ofthe Charity's||2,189|
##
|Staff costs||||
|---|---|---|---|
|||2023f|2022|
|Wages and salaries||121,842|118,584|
|Social security costs||3,825|4,916|
|||125,667|123,500|
|The average number of persons employed|by the Charity|dudng the year was as follows:||
|Number ofemployees||||
|---|---|---|---|
|The average headcount|expressed as full-time|equivalents|was:|
|Number of employees||||
|2023|2022|
|---|---|
|No.|No.|
|2023|2022|
|No.|No.|
##
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##
|The units ofaccommodation
for disadvantaged
peop|le 1stat social rent are:-||
|---|---|---|
||2023|2022|
||Number|Number|
|Thomas Horsley House|40|40|
|Rye Hill|18|18|
||58|56|
##
##
||Freehold|Fixtures and||
|---|---|---|---|
||property
6|fittings
f|Total
5|
|Cost or valuation||||
|At 1 April 2022|2,684,262|270,003|2,954,265|
|Additions|6,288|94,237|100,525|
|At 31 March 2023|2,690,550|364,240|3,054,790|
|Depreciation||||
|At 1 April 2022|472,085|240,503|712,588|
|Charge for the year|72,950|10,103|83,053|
|At 31 March 2023|545,035|250,606|795,641|
|Net book value||||
|At 31 March 2023|2,145,515|113,634|2,259,149|
|At 31March 2022|2,212,177|29,500|2,241,677|
##
##
||||||||||Otherflxed||
|---|---|---|---|---|---|---|---|---|---|---|
||||||||Listed||asset||
||||||||investments|f|investments|Totalf|
||Cost orvaluation||||||||||
||At 1 April 2022||||||503,895||17,878|521,773|
||Additions||||||35,064||3,508|38,572|
||Disposals||||||(35,303)|||(35,303)|
||Revaluations||||||(38,982)|||(38,982)|
||At 31 March 2023||||||464,674||21,386|486,060|
||Net book value||||||||||
||At 31 March 2023||||||464,674||21,386|486,060|
||At 31March 2022||||||503,895||17,878|521,773|
||All the fixed asset investments|||are held in the||UK.|||||
|17.|Debtors||||||||||
||||||||||2023
6|2022
f|
||Due within one year||||||||||
||Trade debtors||||||||4,647|4,328|
||St Mary the Virgin Estate||Management||Charity||||36,775|22,570|
||Prepayments
and accrued income||||||||19,191|'9,601|
||||||||||60,613|36,499|
||Trade debtors represent||gross|social housing||rent arrears.|||||
|18.|Creditors: Amounts|falling due within one||||year|||||
||||||||||2023
6|2022f|
||Trade creditors||||||||2,562|8,262|
||Other creditors|||||||||858|
||Accruals and deferred|income|||||||29,549|35,318|
||||||||||32,111|44,438|
##
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##
|Statement of|funds - current year|||||||
|---|---|---|---|---|---|---|---|
||||||||Balance at|
||Balance at 1||||Transfers|Gains(|31 March|
||April 2022
6|Income
f|Expenditure|6|in/out
6|(Losses)
6|2023
6|
|Unrestricted||||||||
|funds||||||||
|Revaluation||||||||
|reserve|711,267||||(12,627)||696,640|
|Major planned||||||||
|expenditure||||||||
|reserve|250,000||||||250,000|
|General
Funds|1,797,124|416,821|(394,998)||12,627|(43,035)|1,788,539|
||2,758,391|416,821|(394,998)|||(43,035)|2,737,179|
|Statement of|funds - prior year|||||||
||||||||Balance at|
||Balance at||||Transfers|Gains/|31March|
||1April 2021|Income
f|Expenditure|f|in/out|(Losses)
E|2022
E|
|Unrestricted||||||||
|funds||||||||
|Revaluation||||||||
|reserve|723,894||||(12,627)||711,267|
|Major planned||||||||
|expenditure||||||||
|reserve|200,000||||50,000||250,000|
|General
Funds|1,801,215|407,544|(394,425)||(37,373)|20,150|1,797,124|
||2,725,112|407,544|(394,425)|||20,160|2,758,391|
##
##
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##
|Analysis ofnet assets|between funds - current year|||
|---|---|---|---|
|||Unrestricted|Total|
|||funds|funds|
|||2023|2023|
|||6|6|
|Tangible fixed assets||2,259,149|2,259,149|
|Fixed asset investments||486,060|486,060|
|Current assets||122,354|122,354|
|Creditors due within one year||(32,111)|(32,111)|
|Provisions for liabilities|and charges|(98,273)|(98,273)|
|Total||2,737,179|2,737,179|
##
##
|Analysis ofnet assets|between funds - prior year|||
|---|---|---|---|
|||Unrestricted|Total|
|||funds|funds|
|||2022
5|2022f|
|Tangible
fixed assets||2,241,677|2,241,677|
|Fixed asset investments||521,773|521,773|
|Current assets||151,690|151,690|
|Creditors due within one year||(44,438)|(44,438)|
|Provisions
for liabilities|and charges|(112,311)|(112,311)|
|||2,758,391|2,758,391|
##
##
##
||||||||2023f|2022f|
|---|---|---|---|---|---|---|---|---|
||Net
income/expenditure|for the|year|(as per|Statement|of Financial|||
||Activities)||||||(21,212)|33,279|
||Adjustments
for:||||||||
||Depreciation
charges||||||83,053|76,339|
||Losses/(gains)
on investments||||||43,035|(20,160)|
||Dividends,
interests
and rents from||investments||||(11,711)|(9,473)|
||Decrease/(increase)
in|debtors|||||(24,377)|10,362|
||Increase/(decrease)
in|creditors|||||(12,064)|7,590|
||Release ofgrant||||||(14,038)|(14,038)|
||Net cash provided
by operating||activities||||42,686|83,899|
|24.|Analysis ofcash and|cash equivalents|||||||
||||||||2023|2022f|
||Cash in hand||||||61,741|115,191|
||Total cash and cash equivalents||||||61,741|1f5,191|
|25.|Analysis ofchanges|in net debt|||||||
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||||2023|2022|
|---|---|---|---|---|
||||6||
|Not later than||1 year|2,476|2,221|
|Later than|1 year and not later than 5years||6,874|7,215|
|Later than|5years||2317|3,142|
||||11,667|12,578|
##