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2021-12-31-accounts

Page
Report oftheTrustee Ito5
IndependentExamifler's Report 6
Statementof FinancialActivities2021 7
ComparativeStatementof FinancialActivities2020 I
Statementof Financial Position 9tol0
StatementofCashFlows 11
StatementofChangeinFunds t2
NotestotheFinancialStatements 13ta21
DetailedStatementsofFinancialActivities2021 22to23
ComparativeDetailedStatementsof FinancialActivities2020 24to25

Statementof Financial Activitiesincorpor
StatementofComprehensiveIncome
ortheYearEnded3lDecember 2021
ating
3t.12.21 31.12.20
Income and
Expenditure
RestrictedExtra.
andOrdinary
Notes UnrestrictedRepair
FundsReserve
fc
CapitalProperty
FundFund
gf
Total
Funds
f
Total
Funds
s
INCOME AND ENDOWMENTS FROM:
Donationsand legacies 1,200 1,200 650
lnvestmentand other income 6,311 6,311 8,475
lncomefromcharitable activities
Residentscontribution 183,015 183,015 187,301
Totalincome and endowments 194,526 190,526 196,427
EXPENDITUREON:
Charitable activities
Services 54,026 54,426 58,136
Management 27,073 27,073 24,739
RepairsandMaintenance 124,416 124,416 91,087
Transfer from tangible fixedassets
Interest payable andsimilarcharges ] 2,864 2,864
2,889
Total charitable expenditure 248379 208,319 176,851
Net incomebefore(losses)and gain on
investment (17,853) (17,853)19,575
Transferbetweenfunds (11,649) 11,649
Otherrecognised gain#(losses)
Realised gains onsaleofinvestments
Unrealisedgain/(losses) on investments 10,816 10,816(7,997)
NETMOVEMENTINFUNDS (18,686) 11,649(7,037) 11,579
RECONCILIATIONOF'FUNDS
Total fundsbrought forward 13 68,84587,500 89,726195,918 441,989 430,410
TOTALFUNDSCARRIEDFORWARD 12.
50,1s987,500
89,726207,567 434,9s2 441,989
ortheYearEnded31December 202 0 31.12.20 3r.12.19
Incomeand
Expenditure Extra-
Restricted and Ordinary
Unrestricted Repair Capital Property Total Total
Funds Reserve Fund Fund Funds Funds
Notes f c f s g f
INCOMEANDENDOWMENTS FROM:
Donationsand legacies 650 650 r,650
Investment andotherincome 8,475 8,475 8,607
Incomefromcharitatlle activities
Residentscontribution r87,301 187,301 181.131
196,427 196,427 191,388
EXPENDITUREON:
Charitable activities
Services 58,136 58,136 60,091
Management 24,739 24,739 29,r49
RepairsandMaintenance 91,087 91,087 50,291
Transfer from tangible fixedassets
Interest payable andsimilarcharges 2,889 2,889
2,911
Totalcharitable expenditure 176,851 176,851 142,442
Net income before gains and(losses) on
investment 19,575 19,51548,946
10,663 (10,663)
Otherrecognised/(Iosses)/gains
Realised gains onsaleofinvestments
Unrealised(losses)/gain on investments {1,997) (7,997) 13,169
NETMOYEMENTIN TUNDS 22,241 (10,663)11,579 62,115
RECONCILIATIONOF'FUNDS
Total fundsbrought forward l3 46,60387,500 89,726 206,581 430,410 368,295
68,84587,500 89,726 I95,918 441,989 430,410
31.L2.21 31.12.20
Incomeand
ExpenditureExtra-
RestrictedOrdinary
andRepair
UnrestrictedReserve
FundsFund
Capital
Fund
Property
Fund
Total
Funds
Total
Funds
Notes f f f f
FIXEDASSETS
Tangibleassets 6 1,720 89,726 226,514 317,960 306,289
Investments 7 36,379 87,500 t23,879 109,460
38,099 87,500 89,726 226,514 441,839 415,748
CURRENTASSETS
Debtors 8 1,773 7,"173 14,799
Cashatbank andinhand 14. 52,389 52,389 86,307
60,162 60,162 101,106
CREDITORS
Amountsfallingduewithinone year 9 (18,102) (218) (i8,320) (19,919)
NETCURRENTASSETS 42,060 (218)41,842 81,188
TOTALASSETS LESSCURRENT
LIABILITIES 80,159 87,500 89,726 226,296 483,681 496,936
CREDITORS
Amountsfallingdue more than one
year
10.
(30,000)
(78,129) (48,729) {54,947)
NETASSETS 50,159 87,500 89,726 207,567 434,952 441,989
FUNDS 12
Unrestrictedfunds 49,359 68,845
Designated funds 384,793 373,144
Restricted funds 800
TOTALFUNDS 434,952 441,989
The notes on page13to21formpart ofthesefinancialstatements
Page 9
Notes 31.12.21
s
OPERATINGACTIIVITES
Netcashgeneratedfromoperations 14. (1,505) 31,608
Interestpaid (2,864) (2,889)
NETCASH GENERATEDFROM OPERATINGACTIVITIES (4,369) 28,719
CASHTLOWTROMINVESTINGACTIVITIES
Improvements tohousingproperties 6. (23,363) (1,019)
Interestanddividendsreceived on investments 2. 3,607 4,421
PurchaseoIinvestments 7. (3,604) (4,399)
Saleproceedsofinvestments
NETCASHFLOWFROM/(USEDrN)INYESTTNGACTTVTTES (23,360) (ee7)
CASHTLOWFROMTINANCING ACTIVITIES
Repaymentof borrowings (6,189) t6.164)
NET(DECREASE)/INCREASEINCASHANDCASH
EQUIVALENTS (33,9r 8) 21,558
CASHANDCASH EQUTVALENTSAT THE BEGINNINING
OFTHE YEAR 86,307 64,749
CASHANDCASHEQUIVALENTS AT THEEND OFTHE
YEAR 14. 52,389 86,307
Extra-
Incomeand Ordinary
Expenditure Repair Capital Property Total
Fund Fund Fund Fund Funds
f. c f. 0 f
Balanceat1January 2020 46,603 87,500 89"726 206,581 430,410
(Deficit)/Surplusfortheyear 22,241 (10,663) 11,5',79
Balance at3lDecember2020 68,845 87,500 89,726 195,918 441,989
Surplusforthe year (18,686) 11,649 t7,037)
Balanceas31 December2A21 50,159 87,500 89,726 207,56'1 434,952
StatementofChangesin Funds
fortheYearEnded31December2A20
Extra-
Incomeand Ordinary
Expenditure Repair Capital Property Total
Fund Fund Fund Fund Funds
f. f. f c
Balance at1January 2019 30,589 87,500 89,726 160,4',79 368,29s
Surplus/(Deficit) fortheyeu 16,014 46,102 62,116
Balance at 31 December 2019 46,603 87,500 89,',726 206,581 430,41A
Surplusforthe year 22,241 (10,663)71,579
Balanceas31 December2020 68,845 87,500 89,726 195,918 441,989

31.r2.21 31.12.2A
I
Income frombaukdeposit J 22
Dividendincome 3,604 4,399
3,607 4,421

STAFT'COSTS
31.12.21 31.12.20
I s
Wages andsalaries 31,225 22,923
Socialsecuritycosts
Other pensioncosts 706 501
31,93r 23,424
Theaveragemonthlynumberofemployeesduringthe yearwasasfollows:
31,12.21 i ' 'llr
2 1
Noemployees received emolumentsinexcessof f,60,000
INTERESTPAYABLE ANDSIMILARCHARGES
31.12.21 31.12.28
g e
Mortgageinterest payable 2,864 2,889
Freehold Property Fixturesand
property
c
improvements
f
fittings
t
i.,
,
COST
At1January 2021 299,3s0 222,64r 28,418 5s0,409
Additions 22,465 898 23,363
Disposals
LessHousing Grant (132,t12) (132,112)
At31 December 2021 167,238 245,106 29,316 441,660
DEPRECIATION
At1January2021 35,41I 49,687 26,910 112,008
Eliminatedon disposals
Chargeforyear 1,686 9,319 {r86 11,692
At31December2A21 37,098 59,007 27,596 123,'t0l
NETBOOKVALUE
At31 December 2021 130,140 186,100 1,720 317,96A
At31 December 2020 13r,827 172.954 1,508 306,289

FIXEDASSETINVESTMENTS
M&G
M&G General
ERFFund Fund Totals
{ [. f.
MARKET VALUE
AtIJanuary2021 44,435 65,025 109,460
Additions 1,463 2,141 3,604
Disposals
Revaluatinns 4,391 6,425 10,816
At3lDecember 2021 54,289 '73,591 123,8',79
NETBOOKVALUE
At31 December2AZl 50,289 73,591 t23,879
At3IDecember2020 44,435 65,425 rcg,46A

31.12.21 31.12.20
I t
Residentscontributionsinarrears 3,359 11,340
Baddebtprovision
Prepaidexpenses 2,999 3,459
Other debtors 1,415
t,t lJ 14,799
CREDITORS: AMOUNTSFALLINGDUEWITHTN ONEYEAR
31.12.21 31.12.20
I E
Residentscontributionsreceivedinadvance 1,518 7,670
Mortgage 218 189
Accruedexpenses 10,105 5,754
NationalAlmshouseAssociationloan 6,000 6,000
PAYE/NIC/Pension 479 306
18,320 19,919
CREDITORS: AMOUNTSTALLINGDUEMORE THANONEYEAR
3r.12.21 31.12.20
t E
Mortgage t8;729 18,947
NationalAlrnshouseAssociationIoan 30,000 36,000
48Jr9 _54947

,{g3.{}n.}l ,{g3.{}n.}l Net movement Transfer Transfer At3t.t2.2t
infunds between
funds
s
Unrestricted funds
IncomeandExpenditure Fund 68,845 (7,837) (11,649) 49,359
Designatedfunds
Extraordinary RepairFund 87,s00 87,500
CapitalFund 89,726 89,726
PropertyFund 195,918 11,649 207,567
Unrestrictedand designatedfunds441,989 ('1,837) 434,152
Restricted funds
Gardening s00 500
PhysicalActivity 300 300
ii:
,,,r
rl
ii
:,'
lSsi) ,:il
,';,.:
i.l...l.'-
441,989 (7,037) 434,952
TheExtraordinary repair fundis heldacross thetotal ofthe investment portfolio
Netmovementinfunds,includedintheaboveareasfollows:
Resources Gains and Movement
expended losseson in funds
investments
!.. t
Unrestricted funds
IncomeandExpenditureFund 189,526 (208,179) 10,816 (7,837)
Designatedfunds
ExtraordinaryRepair Fund
CapitalFund
PropertyFund
Restricted funds
Gardening 500 50;
PhysicalActivity 500 (200) 300
rUNDSMOVEMENTBEFORE
TRANSFERS 190,526 (208,379) 10,816 (7,037)

2O2OCOMPARATTVEMO VEMENTIN TUNDS
At1.01.20 Net movement Transfer ,.{r3I!:.;r}
infunds between
funds
{ f
Unrestricted funds
IncomeandExpenditure Fund 46.603 t ,579 10,663
Designatedfunds
Extraordinary RepairFund 87,500 87,500
CapitalFund 89,726 89,726
PropertyFund 206,581 (i0,663) 195,918
Unrestrictedand designated funds430,410 11,5',19 441,989
Restricted funds
TOTALFUNDS $4,410 11,579 441,989
Incoming Resources Gains and Movement
resources expended Iosseson infunds
investments
*
Unrestricted funds
IncomeandExpenditureFund 196,427 (176,851) (7,997) 11,5'.19
Designatedfunds
ExtraordinaryRepair Fund
CapitalFund
PropertyFund
ii:: -i,lr,f
; :.:i;i.
FUNDSMOVEMENTBEFORE
TRANSFERS 196,421 (176,851) (7,997) 11,579
RECONCILIATIONOFSURPLUSAFTER TAX TOCASH
GENERATEDFRONU(USEDIN)OPERATIONS
31.12.21 31.12.2$
g f
(Deficit)/Surplusforthe year ("t,037) 11,579
Adjustmentslor:
Depreciationand loss on disposalof tangible fixedassets 11,692 13,045
Grant amoftisation
Movement infairvalueofinvestments (r0,816) 7,997
(Gain)on disposalofinvestments
Interestandinvestment income receivable (3,607) {4,421)
Interest payable 2,864 2,889
Operatingcashflowsbefore movementinworking capital (6,903) 31,088
Decrease/(Incrcase)intrade and other debtors 7,426 (38)
(Decrease)/Increaseintrade and othercreditors (1,628) s58
Cashgeneratedfromoperations (1,505) 3 r,608
CASHANDCASHEQUIVALENTS
3t.12.21
I
3{"}?.?{i
Cashandcashequivalents representedby
Cashatbank andinhand 28,144 62,464
Deposit 24,245 24,243
Cash atbank andinhand 52,385 86,307

DetailedStatement ofFinancialActivities
ortheYearEnded31December 2021
Unrestricted Restricted
funds funds 31.t2.21
f f $
Yoluntaryincome
Donations-church 200 204
Donations-others 1,000 1,000
1{r[] 1,000 l,200 6-c{i
Investmentandotherincome
Deposit interest 3 J 22
Dividendincome 3,644 3,604 4,399
Rentalincome-Church 2,100 2,104 3,600
Laundryreceipts 604 604 454
6,31I 6,311 8,475
Incomeformcharitable activities
Residents' MaintenanceContribution 183,015 183,015 187,301
Total incomingresources 189,526 1,000 190,526 t96,427
Services
Rates andwater 83 83 169
GasandElectricity 2,841 2,847 8,231
Gardening andcleaning 9,859 9,859 8,559
Insurance 2,429 2,428 2,367
SchemeManager cost 23,725 23,725 22,923
Pension 706 7A6 501
CentralControlsystemmaintenance i,693 1,693 1,693
Depreciation 11,692 11,692 13,045
Residentswelfare 640 )rlr|840 356
TVLicences 159 159 293
s3,826 ?axl 54,026 58,136
Management
Secretarytothe Trustee andCEO 15,256 t5,256 t2,852
Telephone"printing,stationery, post and computer exp 2,878 2,878 3,JZ)
Accounts productionandIndependent Examiner'sfee 2,174 2,170 2,170
Advertisingand website
Sundries and subscriptions 1,23s 1,235 725
Professionalfees 83 83
Consultancyfees
PayrollBureau 24;
Bookkeepingservice 3,960 3,960 3,600
Trainingcostsstaff welfare 50 50 462
Trustee insurance 705 "705 806
Baddebt 384 384 258
Loanarrangement feeandbankcharges 3A7 307 300
Travel 46 46 J
2',7,073 27,073 24,739
Urrestricted Restricted
funds funds 31.12.21 31,12.20
g f, g
Charitableactivitycontinued
Repairsand maintenance
Dwellings 90,364 90,364 5l,548
Communalareas 33,450 33,450 39,466
Service contracts 602 602 72
Waste and pestcontrol
124,416 124,416 91,087
Otherexpenditure
Loss on disposalof fixedassets
Interestpayable andsimilarcharges
Mortgage interest 2,864 2,864 2,889
Totalresources expended 208,179 200 208,379 176,851
Recognisedgainon disposal of investments
Net movementinfunds before revaluationof
investments (18,653) 800 (17,853) 19,s7s
Gain(Loss)nonrevaluationof investments 10,816 10,816 (7,991)
Netmovementinfunds (7,837) 800 (7,036.81) 71,579
Comparative detailsStatement ofFinancial
Activities fortheYearEnded31December 2020
Unrestricted Restricted
funds funds 31.r2.20 31.12.19
s f s
INCOME
Voluntaryincome
Donations -church fi5ti {i-t(i 6s0
Donations-others 1,000
65{} fr5{j 1,650
Investmentandotherincome
Deposit interest 22 22 58
Dividend income 4,399 4,399 4,274
Rentalincome-Church 3,600 3,600 3,600
Laundryreceipts 454 454 6't9
8,475 8,475 8,607
Incomeformcharitable activities
Residents' MaintenanceContribution 187,301 187,301- 181,131
Total incomingresources 196,427 196,427 191,388
RESOURCES EXPENDED
Charitable activities
Services
Ratesand water 169 169 1,337
Gas andElectricity 8,231 8,231 7,627
Gardening aad cleaning 8,5s9 8,559 8,940
Insurance 2,367 2,367 2,310
Scheme Manager costs 22,923 22,923 22,298
Pension 501 501 445
Central Controlsystem maintenance 1,593 1,693 1,693
Depreciation 13,045 13,045 14,766
Residentswelfare 356 356 402
TVLicences 293 293 275
58,136 58,136 60,091
Management
Secretary to the Trusteefees 12,852 12,852 12,240
Telephone,printing,stationery, post and computer exp 3,323 3,323 3,450
Accounts productionandIndependent Examiner'sfee 2,170 2,r74 2,r00
Advertisingand website 150
Sundries and subscriptions 72s 725 783
Professionalfees 2,880
Consultancyfees
PayrollBureau 24A 240 't20
Bookkeepingservice 3,600 3,600 3,600
Trainingcostsstaff welfare 462 462 1,412
Trustee insurance 806 806 806
Bad debt 258 2s8 561
Loanarrangement feeandbankcharges 300 300 300
Travel J J 146
24,739 24,"739 29"149
Unrestricted Restricted
funds funds 3t.12.19
s f *. f
Charitableactivitycontinued
Repairsand maintenance
Dwellings 51,548 51,548 24,947
Communalareas 39,466 39,466 24,18',?
Service contracts 72 '72 1,158
Wasteandpestconlrol
91,087 91,087 50,291
Otherexpenditure
Loss on disposaloffixedassets
Interestpayable andsimilarcharges
Mortgageinterest 2,889 2,889 2,911
Tolalresources expended 176,851 r76,851 142,442
Recognisedgainon disposalofinvestments
Net movementinfundsbeforereyaluationof
investments 19,575 19,575 48,946
(Loss/Gainonrevaluationof investments (7,ee7) (7,99',7) 13,169
",i . I
,i.:,,,1:tl! t:.rri,
rt,579 1t,579 62,115