2022-03-31-accounts - Henry Burton Almshouse Charity

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CONTENTS	CONTENTS			Page
Officers and professional			advisors
Report of	the Trustee			4-6
Report of	the Auditors	to	the Trustee	7-11
Statement	ofcomprehensive income			12
Statement	ofchanges	in	reserves	13
Statement	of financial	position		14
Statement	ofcash flows			15-16
Notes to the financial		statements		17-25

Welsh Government	Welsh Government
Registered	Number:	A085
Registered	Charity
Number:		217319/5
Trustee:		Matin Homes Limited
Clerk to the Trustee:		Paula Kennedy
Registered	Office:	T'yr Efail
		Lower Mill Field
		Pontypool
		Torfaen NP4 OXJ
Managing	Agents:	Melin Homes Limited
		T'yr Efail
		Lower Mill Field
		Pontypool
		Torfaen NP4 OXJ
Auditors:		Haines Watts Wales LLP
		Chartered Accountants	&
		Statutory Auditors
		7 Neptune Court
		Vanguard Way
		Cardiff
		CF245PJ
Bankers:		Barclays Bank Pic
		PO Box1015
		3rd Floor, Windsor Court
		3Windsor Place, Cardiff
		CF10 3ZL
Solicitors;		Blake Morgan
		Llys Tawe
		Kings Road
		SAI Swansea Waterfront
		Swansea, SAI 8PG

HENRY BURTON ALMSHOUSE CHARITY	HENRY BURTON ALMSHOUSE CHARITY	HENRY BURTON ALMSHOUSE CHARITY
Statement ofComprehensive Income
For the year ended	31st March 2022
				2022	2021
			Notes	6	f
Turnover				143,717	144,713
Less Operating	costs			(98,454)	(104,551)
Operating surplus				45,263	40,162
Movement in fair	value of financial	instruments	7	97,328	177,134
Interest receivable and similar income			4	14,992	14,236
Interest payable	and similar charges		5	(1,055)	(1,064)
Surplus for the year before taxation				156,528	230,468
Taxation
Surplus for the year after taxation				156,528	230,468
Total Comprehensive Income for the year				156,528	230,468

Reserves
				Extraordinary
				Repair	Unrestricted
				Restricted	Revenue
				Reserve	Reserve	Total
				E	E	E
At 1stApril 2021				717,158	467,332	1,184,490
Deficit from statement		of comprehensive	Income		156,528	156,528
Transfers	to restricted			40,632	(40,632)
Transfer	of Revaluation	on Restricted shares		97,328	(97,328)
At 31stMarch 2022				855,118	485,900

Year Ended 31 March 2	022
						12m ended	12m ended
				Note		31 Mar 2022	31 Mar 2021
Net cash inflow from operating			activities			52,202	47,231
Returns on investment	and	servicing offinance
Interest paid						(1,055)	(1,064)
Interest received						14,992	14,236
Tax paid						0	0
Net cash inflow/(outflow)	from		returns	on investment	an	13,937	13,172
servicing offinance
Capital expenditure and	financial investment
Purchase of investments						(40,632)	(37,669)
Government grants received						0	0
Grants repaid						0	0
Purchase of components						0	0
Sale of investments						0	0
Sale of housing properties	and fixed asset			investments		0	0
Homebuy loans						0	0
Net cash inflow/(outflow)	from		investing	activities		(40,632)	(37,669)
Free cash inflow/(outflow)		before financing				25,507	22,734
Financing
Housing loans received						0	0
Housing loans repaid						(96)	(88)
Free cash (outflow)/inflow		from	financing			(96)	(88)
Increase in cash						25,411	22,646

	FROM OPERATING	ACTIVITI	ES
				12m ended	12m ended
				31 Mar 2022	31 Mar 2021
				6'000	8'000
1	Operating surplus			45,263	40,162
	Depreciation oftangible assets			19,931	23,340
	Surplus on sale ofassets			0	0
	(increase)/decrease	in debtors		338	(1,236)
	increase/(decrease)	in creditors		1,251	(454)
	Increase in stock			0	0
	Non cash movement	in pension		0	0
	Amortisation of grant			(14,581)	(14,581)
	Net cash inflow from	operating	activities	52,202	47,231

			12m ended	12m ended
			31 Mar 2022	31 Mar 2021
			8'000	5'000
2	(Decrease)/Increase in cash in the year		25,411	22,646
	Cash inflow from changes	in debt	96	88
	Non cash movement on debt		0	0
	Movement in net debt in the period		25,507	22,734
	Net debt at start ofyear		115,936	93,202
	Net debt at end ofyear		141,443	115,936

	31 Mar 2021	Cash flows	Non cash		31 Mar
	8'000	K'000	amendments		6'000
Cash in hand and at bank	127,217	25,410		0	152,627
	127,217	25,410		0	152,627
Debt due in less than one year	(96)	(10)			(106)
Debt due in more than one year	(11,185)	107		0	(11,078)
Balance at end ofyear	115,936	25,507		0	141,443

Deprecia	tion is ch	arged on c	ost on a strai	ght line basis over the co	mponent's exp
				2U2/2	2U21
Building -'/	structure on cost	less SHG		2	2
Windows/Doors			0/	4	4
Roofs			'/o	2	2
Bathrooms			o/o	4	4
Kitchens				6.67	6.67
Heating	System		'/o	3.33	3.33
Boiler			'/o	6.67	6.67

Fully rented housing	accommodation	accommodation	accommodation	accommodation		2022			2021
						Turnover	Operating	Operating	Turnover		Operating	Operating
							Costs	Surplus			Costs	Surplus
						5	E	F.	8		2	5
Social housing lettings	(Note		2(b))			143,717	(98,454)	45,263	144,713		(104,551)	40,162
						143,717	(98,454)	45,263	144,713		(104,551)	40,162
Income and expenditure		from social			housing	lettings
											2022	2921
							General
							needs and		Other soaal
							sheltered	Supported	housing	letting
Income							housing 5	Housing 5	income 5		Total 5	Totalf
Rent receivable							119,790				119,790	117,681
Service charges income							9,346				9,346	12,451
Income for support services
Other revenue grants
Amorbsed Grant							14,581				14,581	14,581
Turnover from soaal housing			lettings				143,717				143,717	144.713
Cost
Management fee							35.402				35,402	34,371
Service charge costs							15,058				15,058	17,006
Routine maintenance							21,285				21,285	19,679
Major repairs expenditure							281				281	560
Bad debts							(459)				(459)	165
Depreciation of housing		propedies					19,931				19,931	23,340
Impairment of housing	properties
Other costs							6,956				6,956	9,430
Operating costs on social			housing	activities			98,454				98,454	104,551
Operating surplus on social			housing	lettings			45,263				45,263	40,162
Rent loss due to voids	(memorandum				note)		283				283	618

3	Operating surplus
			2022	2021
			E	E
	The operating surplus	is stated after charging:-
	Depreciation		19,931	23,340
	Bad Debt Provision		(459)	165
	Auditors' remuneration
	- In their capacity as	auditors	4,098	3,856
4	Interest receivable	and similar income
			2022	2021
			E	E
	Income from hire of	communal hall		(35)
	Income from listed investments		14,779	14,058
	Income from building	society account	213	211
	Sundry Income			2
			14,992	14,236
5	Interest payable and similar charges
			2022	2021
			E	E
	On loans repayable	in instalments
	wholly or partly in more than five years		1,055	1,064

Tangible Fixed Assets-	2022	2021
Building Improvements	8	8
Cost
At 1 April 2021	856,413	856,413
Component Additions
Component Disposals
At 31st March 2022	856,413	856,413
Depreciation
At 1 April 2021	541,669	518,329
Charge for year	19,931	23,340
Component Disposals
At 31st March 2022	561,600	541,669
Net book value
At 31st March 2022	294,813	314,744

Listed Investments
	C.O.I.F	C.O.I.F.
	Accum. ERF	Accum. ERF
	No.	f
At 1st April 2021	1,806	374,096
Additions	65	14,610
Disposals
Revaluation		43,821
At 31st March 2022	1,871	432,527
	C.O.I.F	C.O.I.F.
	Income	Income
	No.	f
At 1st April 2021	19.162	343,506
Additions	1.356	26,022
Disposals
Revaluation		30,027
At 31st March 2022	20,518	399,555

	C.O.I F	C.O.I F	C.O.I.F.
	Accum	CMF	Accum. CMF
	No		f
At 1st April 2021		69	14,345
Additions
Disposals
Revaluation			1,668
At 31st March 2022		69	16,013

M&G Charity		M&G Charity
Multi Asset		Multi Asset
Accum. ERF		Accum. ERF
No.		f
1,343		128,860
		14,130
1,343		2,999
M8G Charity		M&G Charity
Multi Asset		Multi Asset
Income		Income
No		f
128,464		110,351
		7,682
128.464		118,033
		Total Listed
		Investments
		f
At 1st April 2021		971,158
Additions		40,632
Disposals
Revaluation		97,328
At 31st March	2022	1,109.118
2022		2021
91.88	p	8590	p
10,647.59	p	9,59541	p
1,947.35	p	1,792.64	p
23,123.01	p	20,714.09	p
f369.433		f328,801

8	Debtors		2022	2021
				6
	Rent arrears		1,761	2,140
	Less: bad debts provision		(1,073)	(1,532)
			688	608
	Service Charge Debtor		350	969
	Prepayments and accrued income		3,991	3,790
			5,029	5,367
9	Creditors: Amounts	falling	2022	2021
	due within one year			6
	Prepayments of rent		10,668	10,141
	Sundry creditors and	accruals	24,150	23,426
	Service Charge Creditor
	Fresh PLC loan due	within one year	106	96
			34,924	33,663

Creditors: Amounts	falling	falling
due after more than one		year								2022	2021
										6	6
Housing loans										11,078	11,185
The loans advanced by Fresh			PLC to		finance		the improvements			to the
Almshouses are secured		by specific charges					on the Charity's		properties.
They are repayable as follows			in	biannual		instalments		over	30	and 60years,
interest being charged	at	varying		fixed	interest		rates ranging		from 9.375%to
9.875%per annum, the last instalments					faliing		due between		2018and 2048.
										2022	2021
										8	8
One year or less										106	96
Between one and two	years									116	106
Between three and five years										418	382
In five years or more										10,544	10,697
										11,184	11,281
Gross grant creditor
At 1 April 2021										613,792	613,792
Additions during the year
Component disposals
At 31 March 2022										613,792	613,792
Amortisation
At 1 April 2021										424,644	410,063
Credit for the year										14,581	14,581
Component disposals
At 31 March 2022										439,225	424,644
Net grant creditor
At 31 March 2022										174,567	189,148
At 1 April 2021										189.148	203,729
Amounts falling due:
Within one year or less										14,581	14,581
Between one and two years										14,581	14,581
Between two and five years										43,743	43,743
In five years or more										101,662	116,243
In more than one year										159,986	174,567
Total grant creditor										174,567	189.148

Number of	Units	in	Management	2022	2021
				No.	No.
At beginning	and	end	ofyear	32	32
No. of units	managed		by other bodies	NIL	NIL

			2022	2021
			E	E
Social	Housing	Grant	764,224	764,224

					Notes	Notes		2022		2021
								5		f
Income
Turnover								143.717		144,713
								143,717		144,713
Operating costs
Management	fee						35,402		34,371
Water Rates
Day to day repairs							21,163		19,569
Major Repairs							281		560
Service costs							15,058		17,006
Cyclical maintenance							122		110
Bad debts						3	(459)		165
Depreciation						3	19,931		23,340
Insurance							2,460		1,990
Audit fee						3	4,098		3,856
Legal Fees									3,239
Subscriptions							299		285
Advertising
Minor Scheme		Inventory (Et00
Sundry Charges							99		60
								98,454		104,551
Operating surplus								45,263		40,162
Interest receivable				and similar income
Miscellaneous		Income				4			(35)
Interest from	investments					4	14,779		14,058
Bank 8 Building			Society deposit interest			4	213		211
Sundry Income									2
								14.992		14,236
								60,255		54,398
Interest payable			and similar charges			5		(1,055)		(1,064)
Surplus for the		year						59,200		53,334
Movement on	fair		value of Financial		Instruments	7		97,328		177,134
Surplus I(deficit) for the year								156,528		230,468