| 2020 | 2019 | |||||||
|---|---|---|---|---|---|---|---|---|
| Note | Z | |||||||
| Turnover | 34,315 | 35,630 | ||||||
| Less Operating | costs | |||||||
| Services | 9,778 | 10,701 | ||||||
| Management | 10 | 9,231 | 8,450 | |||||
| Day to Day Maintenance Cyclical Maintenance |
10 10 |
9,193 1,1bO |
6,624 4,b80 |
|||||
| 29,352 | 30,455 | |||||||
| 4,963 | 5,175 | |||||||
| Add | ||||||||
| Interest Receivable and other |
income | 327 | 2,550 | |||||
| Profit I(Deficit) | for the year | 5,290 | 7,725 | |||||
| Movement on Reserves |
||||||||
| Balance brought | forward as previously | reported | 54,345 | 43,440 | ||||
| Profit for the year | 5,290 | 7,725 | ||||||
| Transfer (to): | ||||||||
| Cyclical Repairs | & Maintenance | Reserve | 1,150 | 4,680 | ||||
| Emergency Repair Fund |
9ii | 1,500 | 1,500 | |||||
| 59,285 | 54,345 |
| 2020 | 2019 | |||||||
|---|---|---|---|---|---|---|---|---|
| Note | g | |||||||
| Fixed Assets | ||||||||
| Housing properties |
-cost | 102,758 | 102,758 | |||||
| Less: Housing association | Grant | 98,109 | 98,109 | |||||
| 4,649 | 4,649 | |||||||
| Current Assets | ||||||||
| Debtors | 3,856 | 4,461 | ||||||
| Investments | 27,923 | 26,423 | ||||||
| Cash at bank R in hand | 110,774 | 106,537 | ||||||
| 142,553 | 137,421 | |||||||
| Creditors | ||||||||
| Due within one year | 3,688 | 3,846 | ||||||
| Net Current Assets | 138,865 | 133,575 | ||||||
| Total Net Assets | 143,514 | 138,224 | ||||||
| Represented by: |
||||||||
| Capital &Reserves | ||||||||
| Designated reserves |
84,229 | 83,879 | ||||||
| Income &expenditure | account | 59,285 | 54,345 | |||||
| 143,514 | 138,224 |
| Notes to the Financial | Statements | |
|---|---|---|
| 2020 | 2019 | |
| g | g | |
| 2.Interest Receivable and Other Income | ||
| Bank Deposit & Building Society Interest | 281.00 | 467.39 |
| Investment Income |
48.00 | 48.00 |
| Other Rents Received | 35.05 | 35.00 |
| Other income | 2,000.00 | |
| 364.05 | 2,550.39 |
| 4.Fixed Assets | |||
|---|---|---|---|
| Housing Properties |
~Com ieted |
~corn ieted |
|
| ~Housin | ~Housin | ||
| ~Pro erties | ~Pro erties | ||
| As At 1st January 2020 | 102,758.00 | 102,758.00 | |
| Additions - Improvement |
to Properties | ||
| As At 31st December 2020 | 102,758.00 | 102,758.00 | |
| Less: Housing Association | Grant | ||
| As at 1st January 2020 | 98,109.00 | 98,109.00 | |
| Grant Received in Year |
|||
| As At 31st December 2020 | 98,109.00 | 98,109.00 | |
| Net Book Value As At 31stDecember 2020 | 4,649.00 | 4,649.00 |
| Notes to the Financial | Statements | |||
|---|---|---|---|---|
| 2020 | 2019 | |||
| 'E | L' | |||
| 5.Fixed Assets | ||||
| Investments | ||||
| Base Cost: | ||||
| As at 1stJanuary | 2020 | |||
| As at 31st December 2020 | ||||
| Barclays Ord .25p | Shares | (Holding 524) | 1,171 | 1,171 |
| Market Value as at 31st | December 2020 | 1,171 | 1171 | |
| 6.Debtors | ||||
| Prepayments R Accrued |
Income | 4,684 | ||
| 7.Current Assets | ||||
| Investments | ||||
| Cost or Base Cost | 26,423 | 24,923 | ||
| Additions During |
the Year | 1,500 | 1,500 | |
| 27,923 | 26,423 | |||
| The Investments | comprise the following: | |||
| NAACIF Accumulation | Shares (2249.476) | 27,789 | 26,289 | |
| NAACIF Income | Shares | (301) | 134 | 134 |
| Balance as at 31st December 2020 | 27,923 | 26,423 | ||
| Market Value as at 31st | December 2020 | 109,522 | 111,404 |
| 2020 | 2019 | |||
|---|---|---|---|---|
| g | ||||
| 8.Creditors: due within one year | ||||
| Other Creditors &Accruals |
3,688 | 3,846 | ||
| 9.Designated Reserves |
||||
| i) Cyclical Repairs K Maintenance | Reserve | |||
| Balance as at 1stJanuary 2020 | 57,590 | 62,270 | ||
| Transfer from Income & Expenditure | Account (page 3) | 1,150 | 4,680 | |
| Balance as at 31st December 2020 | 56,440 | 57,590 | ||
| ii) Emergency Repair Fund |
||||
| Balance as at 1stJanuary 2020 | 26,289 | 24,789 | ||
| Transfer from Income & Expenditure | Account (page 3) | 1,500 | 1,500 | |
| Transfer to Income & Expenditure | Account (page 3) | |||
| Balance as at 31st December 2020 | ||||
| 27,789 | 26,289 | |||
| 10.Housing Corporation Costs |
||||
| 10 Units (2019-10) | ||||
| Management | 9,231 | |||
| Day to Day Repairs & Maintenance | 9,193 | |||
| Cyclical Repairs &Maintenance | 1,150 |
| 2020 | 2019 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| E | f | |||||||||
| Income from Tenants | Contributions | R Service Charges | 34,315 | 35,630 | ||||||
| Income from Investments | etc: | |||||||||
| NAACIF Income Share Interest | 11 | |||||||||
| Barclays Interest | 416 | |||||||||
| Lloyds TSBInterest | 281 | 51 | ||||||||
| Barclays Dividend | &Investment | Income | 292 | 37 | 515 | |||||
| Other Rents | 35 | 35 | ||||||||
| Other income | 2,000 | |||||||||
| 34,642 | 38,180 | |||||||||
| Less: Services | ||||||||||
| TV Licence | 60 | 60 | ||||||||
| Insurance | 1,214 | 1,234 | ||||||||
| Heating R Lighting | 4,047 | 4,848 | ||||||||
| Rates | 2,915 | 2,973 | ||||||||
| Telephone Rentals |
883 | 926 | ||||||||
| Residents Gifts |
658 | 660 | ||||||||
| 9,778 | 10,701 | |||||||||
| Management: | ||||||||||
| Clerk's Remuneration | 4,663 | 4,572 | ||||||||
| Audit g Accountancy | Fees | 690 | 678 | |||||||
| Postages, Stationery | 5Advertising | 573 | 296 | |||||||
| Subscriptions | 551 | 313 | ||||||||
| Sundry Expenses | 219 | 80 | ||||||||
| Professional Fees |
2,536 | 2,512 | ||||||||
| 9,231 | 8,450 | |||||||||
| Repairs 5 Maintenance | 9,193 | 6,624 | ||||||||
| Cyclical Maintenance | 1,150 | 4,680 | ||||||||
| 10,343 | 11,304 | |||||||||
| 29,352 | 30,455 | |||||||||
| Excess / (Deficit) | of | Income over | Expenditure | for the | Year | 5,290 | 7,725 |