||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|





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|Statementof Financial Activitiesincorpor<br>StatementofComprehensiveIncome<br>ortheYearEnded3lDecember 2021|ating|||||
|---|---|---|---|---|---|
|||||3t.12.21|31.12.20|
|||Income and||||
|||Expenditure||||
|||RestrictedExtra.||||
|||andOrdinary||||
|Notes||UnrestrictedRepair<br>FundsReserve<br>fc|CapitalProperty<br>FundFund<br>gf|Total<br>Funds<br>f|Total<br>Funds<br>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|<br>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.|<br>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|<br>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<br>andRepair||||||
|||UnrestrictedReserve<br>FundsFund||Capital<br>Fund|Property<br>Fund|Total<br>Funds|Total<br>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<br>year|10.|<br>(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|





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





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|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<br>c|improvements<br>f|fittings<br>t|i.,<br>,|
|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:<br>,,,r<br>rl<br>ii<br>:,'|||lSsi)|||,:il|
|,';,.:<br>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|68,845|
|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<br>; :.:i;i.|||||
|FUNDSMOVEMENTBEFORE|||||
|TRANSFERS|196,421|(176,851)|(7,997)|11,579|





|RECONCILIATIONOFSURPLUSAFTER TAX TOCASH<br>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<br>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<br>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<br>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<br>,i.:,,,1:tl! t:.rri,|rt,579||1t,579|62,115|