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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<br>income|||12|
|Statement|ofchanges|in|reserves|13|
|Statement|of financial|position||14|
|Statement|ofcash flows|||15-16|
|Notes to the financial||statements||17-25|





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|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<br>Limited||
|||T'yr Efail||
|||Lower Mill Field||
|||Pontypool||
|||Torfaen NP4 OXJ||
|Auditors:||Haines Watts Wales LLP||
|||Chartered<br>Accountants|&|
|||Statutory<br>Auditors||
|||7 Neptune<br>Court||
|||Vanguard<br>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||





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|HENRY BURTON ALMSHOUSE CHARITY|HENRY BURTON ALMSHOUSE CHARITY|HENRY BURTON ALMSHOUSE CHARITY||||
|---|---|---|---|---|---|
|Statement ofComprehensive<br>Income||||||
|For the year ended|31st March 2022|||||
|||||2022|2021|
||||Notes|6|f|
|Turnover||||143,717|144,713|
|Less<br>Operating|costs|||(98,454)|(104,551)|
|Operating<br>surplus||||45,263|40,162|
|Movement<br>in fair|value of financial|instruments|7|97,328|177,134|
|Interest receivable<br>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<br>Income for the year||||156,528|230,468|



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|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||





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## 

|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<br>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<br>and|financial<br>investment|||||||
|Purchase<br>of investments||||||(40,632)|(37,669)|
|Government<br>grants received||||||0|0|
|Grants repaid||||||0|0|
|Purchase<br>of components||||||0|0|
|Sale of investments||||||0|0|
|Sale of housing<br>properties|and fixed asset|||investments||0|0|
|Homebuy<br>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<br>loans received||||||0|0|
|Housing<br>loans repaid||||||(96)|(88)|
|Free cash (outflow)/inflow||from|financing|||(96)|(88)|
|Increase<br>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<br>surplus|||45,263|40,162|
||Depreciation<br>oftangible assets|||19,931|23,340|
||Surplus<br>on sale ofassets|||0|0|
||(increase)/decrease|in debtors||338|(1,236)|
||increase/(decrease)|in creditors||1,251|(454)|
||Increase<br>in stock|||0|0|
||Non cash movement|in pension||0|0|
||Amortisation<br>of grant|||(14,581)|(14,581)|
||Net cash inflow from|operating|activities|52,202|47,231|



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## 

||||12m ended|12m ended|
|---|---|---|---|---|
||||31 Mar 2022|31 Mar 2021|
||||8'000|5'000|
|2|(Decrease)/Increase<br>in cash in the year||25,411|22,646|
||Cash inflow from changes|in debt|96|88|
||Non cash movement<br>on debt||0|0|
||Movement<br>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<br>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|





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## 

|Deprecia|tion<br>is ch|arged<br>on c|ost on a strai|ght<br>line basis over the co|mponent's<br>exp|
|---|---|---|---|---|---|
|||||2U2/2|2U21|
|Building <br>-'/|structure<br>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|



## 



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## 

|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<br>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<br>5|Housing<br>5|income<br>5||Total<br>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<br>Grant|||||||14,581||||14,581|14,581|
|Turnover<br>from soaal housing|||lettings||||143,717||||143,717|144.713|
|Cost|||||||||||||
|Management<br>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<br>of housing||propedies|||||19,931||||19,931|23,340|
|Impairment<br>of housing|properties||||||||||||
|Other costs|||||||6,956||||6,956|9,430|
|Operating<br>costs on social|||housing|activities|||98,454||||98,454|104,551|
|Operating<br>surplus<br>on social|||housing|lettings|||45,263||||45,263|40,162|
|Rent loss due to voids|(memorandum||||note)||283||||283|618|



## 



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## 

|3|Operating<br>surplus||||
|---|---|---|---|---|
||||2022|2021|
||||E|E|
||The operating<br>surplus|is stated after charging:-|||
||Depreciation||19,931|23,340|
||Bad Debt Provision||(459)|165|
||Auditors'<br>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<br>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<br>in more than five years||1,055|1,064|





## 

|6|Tangible Fixed Assets-|2022|2021|
|---|---|---|---|
||Building Improvements|8|8|
||Cost|||
||At 1 April 2021|856,413|856,413|
||Component<br>Additions|||
||Component<br>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<br>Disposals|||
||At 31st March 2022|561,600|541,669|
||Net book value|||
||At 31st March 2022|294,813|314,744|





## 

|7|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<br>and accrued income||3,991|3,790|
||||5,029|5,367|
|9|Creditors: Amounts|falling|2022|2021|
||due within one year|||6|
||Prepayments<br>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|





## 

|10|Creditors: Amounts|falling|falling||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
||due after more than one||year||||||||2022|2021|
||||||||||||6|6|
||Housing<br>loans||||||||||11,078|11,185|
||The loans advanced<br>by Fresh|||PLC to||finance||the improvements|||to the||
||Almshouses<br>are secured||by specific charges|||||on the Charity's||properties.|||
||They are repayable<br>as follows|||in|biannual||instalments||over|30|and 60years,||
||interest<br>being charged|at|varying||fixed|interest||rates ranging||from 9.375%to|||
||9.875%per annum,<br>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<br>during the year||||||||||||
||Component<br>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<br>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<br>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|



## 



## 

|12|Number<br>of|Units|in|Management|2022|2021|
|---|---|---|---|---|---|---|
||||||No.|No.|
||At beginning|and|end|ofyear|32|32|
||No. of units|managed||by other bodies|NIL|NIL|



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



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||||||Notes|Notes||2022||2021|
|---|---|---|---|---|---|---|---|---|---|---|
|||||||||5||f|
|Income|||||||||||
|Turnover||||||||143.717||144,713|
|||||||||143,717||144,713|
|Operating<br>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<br>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<br>Income|||||||||2||
|||||||||14.992||14,236|
|||||||||60,255||54,398|
|Interest payable|||and similar charges|||5||(1,055)||(1,064)|
|Surplus<br>for the||year||||||59,200||53,334|
|Movement<br>on|fair||value of Financial||Instruments|7||97,328||177,134|
|Surplus I(deficit) for the year||||||||156,528||230,468|