2022-06-03-accounts - St Leonard's Hospital

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Contents ofthe Financial Statements
for the Year Ended 3June 2022
	Page
Companf Information
Report ofthe Trustees
Report ofthe Independent Auditors
Statement ofFinancial Activities
Balance Sheet	12
Statement ofChanges in Funds	13
Cash Flow Statement	14
Notes to the Cash Flow Statement	15
Notes to the Financial Statements	16
Detailed Profit and Loss Accounts	27

TRUSTEES:		Ex-Officio Trustees
		L Murray I Brown
		Nominative Trustees J Moore¹-
		R Wrlbams-
		LGuf
		Co-optative Trustees
		J Fawcett+- M Gamage +¹(Deceased 6 November 2022) G W Hicks¹ V Picker+¹- A Shaw +¹(Deceased 16September 2022)
		P Simpson +
		+ Member ofthe Building	Sub-Committee ¹Member of
		the Finance Sub-Committee
		-Member ofthe Resident's		Sub-Committee
SECRETARY:		Mrs EGamage
REGISTERED	OFFICE:	c/o Payne & Gamage
		48 Lombard Street
		Newark
		NG24 1XP
REGISTERED	NUMBER:	Charity Commission: 217439
		Housing Association.	A2233
AUDITORS:		Wright Vigar Limited Statutory
		Auditors
		Chartered Accountants		& Business Advisers	15
		Newland
		LincolnLincolnshireLN1
		1XG
BANKERS:		National Westminster	Bank Pic 1 Market
		Place
		NewarkNottinghamshire
		NG24 1XP
INVESTMENT	ADVISORS:	M&G Securities Limited P0Box9038
		Chelmsford
		CM99 2XF

				~StL d' H	~StL d' H
				Statement ofFinancial Activities
				for the Year Ended 3June 2022
				Notes	2022 E	2021f
REVENUE					337,978	335,987
Administrative expenses					374,515	276,142
					(36,537)	59,845
Other operating income					200	8,403
OPERATING (LOSS)/PROFIT					(36,337)	68,248
Interest receivable	and similar		income	7	3,102	1,755
					(33,235)	70,003
Unrealised surplus/	(defiant)				1,076,135	117,402
PROFIT BEFORE	TAXATION				1,042,900	187,405
Tax on profit
PROFIT FOR THE	FINANCIAI		YEAR		1,042,900	187,405
OTHER COMPREHENSIVE		INCOME
TOTAL COMPREHENSIVE THE YEAR		INCOME		FOR	1,042,900	187,405

StLeon	ard's Hos	ital Re istered num	ital Re istered num	ber 217439
		Balance Sheet
		3June 2022
	Notes	f	2022		2021
FIXEDASSETS
Property, plant and equipment Investments	10 11			9,117,909 761,906		8,041,992 751,263
Investment property	12			1 320,100		1 330,030
				11,199,915		10,124,185
CURRENT ASSETS
Debtors	13	24,953			22,663
Cash at bank and in hand		1,111,204			1,128,453
		1,138,157			1,151,116
CREDITORS
Amounts falling due within one year	14	47,839			29,968
NET CURRENT ASSETS				1,088,318		1,121,148
TOTAL ASSETSLESS CURRENT LIABILITIES				12,288,233		11,245,333
RESERVES Housing property reserve Other restricted reserves Unrestricted reserves	16 16 16			9,117,499 20,032 3,150,702		8,041,177 32,978 3,171,178
				12,288,233		11,245,333

			Statement ofChan es in F for the Year Ended 3June	unds 2022
				Housing	Other
			Unrestricted	property	restricted	Total
			reserves	reserve	reserves	equity
			8	E	6	6
Balance	at 4June	2020	2,974,217	8,041,177	42,534	11,057,928
Changes in equity Total comprehensive		income	196,961		~9,555)	187,405
Balance	at 3June	2021	3,171,178	8,041,177	32,978	11,245,333
Changes in equity Total comprehensive		income	~0, 75)	1,075,322	~)2,940)	1,042,9110
Balance	at 3June	2022	3,150,702	9,117,499	20,032	12,288,233

fo	r the Year Ended	3June 2022
		2022	2021
Notes		8	8
Cash flows from operating activities Cash generated from operations		~20,350)	65,235
Net cash from operating activities		~20,350)	65,235
Cash flows from investing activities Purchase oftangible fixed assets Interest received		3,102	(1,203) 1,755
Net cash from investing activities		3,102	552
Cash flows from financing activities Government grant			8,000
Net cash from financing activities			8,000
((3ecrsase)/increase in cash and cash equivalents		(17,248)	73,787
Cash and cash equivalents at beginning ofyear	2	1,128,453	1,054,666
Cash and cash equivalents at end ofyear	2	1,111,204	1,128,453

RECONCILIATION OPERATIONS	OF PROFIT BEFORE TAXATION TO CASH	GENERATED FROM
		2022	2021
		f
Profit before taxation		1,042,900	187,405
Depreciation charges Gain on revaluation offixed assets		406 (1,076,135)	697 (117,402)
Government grants Finance income			(8,000) ~1,755)
		(35,931)	60,945
(Increase)/decrease Increase/(decrease)	in trade and other debtors in trade and other creditors	(2,290) 17,871	13,399 ~9,109)
Cash generated from operations		~20,349)	65,235

Year	ended3June2022
		36.22 F	4.6.21 f
Cash	and cash equivalents	1,111,204	1,128,453
Year	ended 3June 2021	36.21	46.20
		E	5
Cash	and cash equivalents	1,128,453	1,054,666

ANALYSIS OF CHANGES IN NET FUNDS
	At4.6.21	Cash flow	At 3.6.22
	6
Net cash Cash at bank and in hand	1,128,453	~17,249)	1,111,204
	1,128,453	~17,249)	1,111,204
Total	1,128,453	~17,249)	1,111,204

OTHER OPERATING INCO	ME
					03/06/22	03/06/21
					5
Rents receivable					259,084	251,035
Management costs Clerk and receiver's fees Insurance					16,889 20,581	16,800 18,610
					37,470	35,410
Service costs
Rates					23,051	23,726
Heat and light Garden maintenance Telephone Television licences					19,503 4,982 1,642 169	12,539 4,811 3,155 118
Cleaning Monitoring ofcareline Sundry expenses Wages Legal and professional Advertising					14,295 33,430 216 20,413 6,143 180	12,981 32,668 682 20,781 3,380 540
					124,024	150,161
Routine Maintenance					42,311	45,796
Planned Maintenance					5 595	9,830
Operating costs on social	housing	lettings			2529 2	205,78?
Operating surplus/(deficit)	on social		housing	lettings	1,183	45,248
Void losses netted off rents	receivable		above		831	3,166

							03/06/22	03/06/21
								5
Investment property	income						78,894	84,952
Clerk and receiver's fees							12,666	12,600
Rates Insurance							5,044 4,778	3,165 4,586
Heat and light Cleaning Routme maintenance							2,475 2,301 15,270	1,288 2,754 751
Garden maintenance								1,920
Planned maintenance							861	98
Sundry Wages Legal and professional Monitoring ofcareline Bad Debt	fees						10 16,907 5,340 5,521 15,160	14,404 2,190
Operating costs on	non~octal		housing		activities		66.3 3	3766
Operating surplus on non-social				housing		activities	~743 7	1,166
Governance costs							03/06/22	03/06/21 f
Clerk and receiver's fees insurance Accountancy Auditors remuneration Sundry expenses Advertising Telephone Subscriptions Bank charges Depreciation ofcomputer		equipment					12,666 2,761 5,492 5,360 553 1,212 1,023 808 406	12,600 575 5,436 4,500 561 372 315 880 663 697
Operating costs on	non-social		housing		activities		30,281	26,599

			Total	Social housing	Investment
			allocated	lettings f	properties f		Governance f
Clerk fees	and	receiver's	42,315	~16926 40'/)	~1269	30'/)	~12899 30'/)

PROPERTY, PLANT AND EQUIPMENT
	Land and	Computer
	Buildings f	equipment 8	Totals f
COST OR VALUATION
At 4 June 2021	8,041,177	2,112	8,043,289
Revaluations	1,076,323		1,076,323
At 3June 2022	9,117,500	2,112	9,119,612
DEPRECIATION
At 4 June 2021		1,297	1,297
Charge for year		406	406
At 3June 2022		1,703	1,703
NET BOOK VALUE
At 3June 2022	9,117,500	409	9,117,909
At 3 June 2021	8,041,177	815	8,041,992

PROPERTY, PLANT ~Hi *i	AND EQUIPM	ENT -continued
			Bishop
	Cottage	Bakewell	Alexander	Parson' s	Piano
	Homes f	Almshouses f	Court f	Mountf	School f	Total f
Cost or valuation
At 4th June 2021	1,609,000	350,000	2,460,000	3,085,000	537,177	8,041,177
Additions
Disposals Revaluations	546,000	287,500	245,000	185,000	~187,177)	1,076,322
At 3rd June 2022	2,155,000	637,500	2,705,000	3,270,000	350,000	9,117,499
Depreciation
At 4th June 2021
and 3rd June 2022
Net book value
At 3rd June 2022	2,155,000	637,500	2,705,000	3,270,000	350,000	9,117,499
At 3rd June 2021	1,609,000	350,000	2,460,000	3,085,000	537,177	8,041,177

Valuation	2,962,990
Cost	6,154,510
	9,117,500

			Land and	Computer
			Buildings f	equipment f	Totals f
Valuation	in	2022	2,962,990		2,962,990
Cost			6,154,510	2,112	6,156,622
			9,117,500	2,112	9,119,612

FIXEDASSET INVE	STMENTS
					Listed
					investments
					5
COST OR VALUATION
At 4 June 2021					751,263
Revaluations					10,643
At 3June 2022					761,906
NET BOOK VALUE
At 3June 2022					761,906
At 3June 2021					751,263
Listed investments:	UK
General fund (unrestricted)
				03/06/22	03/06/21
				5	6
	COIF inv fund accum units-
	recoupment	Bishop Alexander
80.29	Court			17,515	15,185
	M&G charity	multi-asset		income
39,744.00	units			34,542	35,360
6,986.80	M&G chadity accumulation	multi-asset units		709,849	700,717
Total listed investments				761,905	751,263
The historic cost ofthe above investments			on 3rd	June 2022 was 5223,380(2021:5223,377).
INVESTMENT PROPERTY
					Total
					f
FAIR VALUE
At 4 June 2021 Revaluations					1,330,930 ~10,830)
At 3June 2022					1,320,100
NET BOOK VALUE
At 3June 2022					1 320100
At 3June 2021					1,330,930

Cost or valuation at 3rd	June 2022 is represented by:
	Commercial	Agricultural
	properties f	properties f	Totalf
Valuation	815,000	505,100	1,320,100
Cost
	515,000	505100	1,3201011

Fair value at3June 2022 i	s represented by:
Valuation in 2021 Valuation in 2022			1,330,930 ~10,830)
			1,320,100
DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR		2022	2021
		f	6
Debtors (non-social housing rent arrears) Prepayments		4,764 20,189	4,029 18,634
		24,953	22,663
CREDITORS: AMOUNTS	FALLING DUE WITHIN ONE YEAR	2022 f	2021 f
Trade creditors Social security and other taxes Other creditors Accruals and deferred income Rents received in advance		13,167 743 2,634 11,816 19,479	868 2,631 8,856 17,613
		47,839	29,968

		Restricted	Unrestricted	Total
		reserves	reserves	reserves
		f	f	f.
Property, plant and equipment Investments		9,117,500	409 761,906	9,117,909 761,906
Investment Debtors	properties		1,320,100 24,953	1,320,100 24,953
Cash at bank and in hand		20,031	1,091,173	1,111,204
Creditors: year	amounts falling due within one		47 839	~4,9393
		9,137,531	3,150,702	12,288,233

				Housing	Other
			Unrestricted	property	restricted
			reserves K	reserve 6	reserves	Totals f
At 4 June Profit for Transfers	2021 the year in/out		3,171,178 1,042,900 ~1,063,3 6)	8,041,178 1,076,322	32,977 ~2,946)	11,245,333 1,042,900
At 3June	2022		3,150,702	9,117,500	20,031	12,288,233
RESTRICTED RESERVES- HOUSING PROPERTY
					03/06/22	03/06/21
					5	6
Housing Balance Transfer Transfer	property reserve brought forward to general fund- housing to general fund-housing	property property	addition revaluation		8,041,178 1 076,322	8,036,725 4,452
Balance	atyear end				9,117,500	8,041,177

OTHER RESTRICTED	R	ESERVES
			03/06/22	03/06/21
			F	5
Bakewell Almshouses	Fund
Balance brought forward Transfer from/(to) general		fund	20,266 ~2,23 )	22,618 ~2,352)
Balance at year end			18,032	20,266
Miss BD Crowden Fund
Balance brought forward Transfer from/(to) general		fund	10,712 ~10,71 )	17.916 ~7,204)
Balance at year end				10,712
Rose Sherpa Fund Balance brought forward			2,000	2,000
Balance at year end			2,000	2,000
Total other restricted reserves			20,032	32,978

General fund
				03/06/22	03/06/21
					f
Balance brought forward Total comprehensive income for the		year		3,171,178 1,042,900	2,974,217 187,405
Transfer to/from	Miss BD Crowden	Fund		10,712	7,204
Transfer to/from Transfer to/from	Bakewell Almshouses Housing Reserve		Fund	2,234 ~1,076,3227	2,352
Balanceatyear	end			3750.70	3,171,178

The num	ber ofunits of h	ousing	accommodation	for the elderly in mana	gement at 3rd
				03/06/22	03/08/21
				number	number
Housing	accommodation	for letting
	1 bedroom		flats	68	68
	Warden's		flats	3	3
				71	71

			Elston
			Detailed Profit and Loss Account
			for the Year Ended 3June 2022
			2022		2021
			5
Turnover
Investment	property	income		2,018		2,268
Other income
Sundry receipts				200		403
				2,218		2,671
Expenditure Insurance				168		197
				2,050		2,474
Unrealised	surplus/	(deficit)
Unrealised	surplus	on
revaluation	of investment
property-unrestricted		reserves		25,490
NET PROF	IT			27,540		2,474


Turnover
Investment	property	income	650	1,050
Expenditure Insurance			85	98
			565	952
Unrealised	surplus/	(deficit)
Unrealised	surplus	on
revaluation	of investment
property-unrestricted		reserves	9,000
NET PROFIT			9,565	952

		fo	r the Year Ended 3	June	2022
				2022		2021
			E
Turnover
Investment	property	income			3,000		(3,485)
Expenditure Insurance					106		122
					2,894		(3,607)
Unrealised	surplus/	(deficit)
Unrealised	surplus	on
revaluation of investment property-unrestdicted reserves					~5045
NET PROFIT/(LOSS)					7,939		~3,607)

		2022		2021
		6
Turnover
Investment property	income		62,942
Expenditure
Planned maintenance		861		98
Rates and water		103		637
Insurance		3,310		3,090
Light and heat		1,733		1,143
Routine maintenance		15,270		751
Cleaning		2,300		2,754
Sundry expenses		10
Legal &professional	fees	4,200
			27,787
			35,155
Unrealised surplus/	(deficit)
Unrealised surplus	on
revaluation ofinvestment property-unrestricted reserves			~51,650)
NET (LOSS)/PROFIT			~16,495)

			2022		2021
			5		8
Turnover
Investment Legacies	property received	income	3 ~10280		3 40,000
				10,283
Expenditure
Rates and	water		3,400		1,700
Monitoring	ofcareline		5,521
Wages			16,642		14,166
Pensions			265		238
Clerk and	Receiver's	fees	12,667		12,600
				38,495
NET (LOSS)/PROFIT				~28,212)

			2022		2021
Rent received				60,889
Expenditure
Planned maintenance			6,743		1,919
Rates and water			6,664		7,287
Insurance			4,471		3,986
Light and heat			949		483
Routine maintenance			6,365		5,286
Garden maintenance			1,212		948
Tt/ licences					8
Cleaning			1,619		1,092
Monitoring ofcareline			14,153		4,703
Wages			20,000		20,368
Pensions			413		413
Telephone			87		573
Advertising			180
Sundry expenses			35		499
Legal &professional	fees		636
				63,527
				(2,638)
Unrealised surplus/	(deficit)
Gain/loss on revaluation		ofassets		546,000
NET PROFIT				543,362

			2022		2021
Rent received				15,230
Expenditure
Planned maintenance			228		320
Rates and water			629		493
Insurance			1,079		971
Routine maintenance			2,006		2,032
Garden maintenance			2,081		1,095
TV licences			(7)
Cleaning			327		312
Monitonng ofcareline			1,658		1,326
Telephone			752		637
Legal & professional	fees		540
				9,293
				5,937
Unrealised surplus/	(deficit)
Gain/loss on revaluation		ofassets		287,500
NET PROFIT				293,437

			2022		2021
			6
Rent received				84,149
Expenditure
Planned maintenance			40,472		3,224
Rates and water			13,708		13,851
Insurance			4,990		4,462
Light and heat			9,493		4,756
Routine maintenance			17,055		21,632
Garden maintenance			86		846
TV licences			15		15
Cleaning			3,377		3,649
Monitoring ofcareline			9,998		7,434
Telephone			606		1,580
Advertising					540
Sundry expenses			128		129
Legal &professional	fees		540
				100,468
				(16,319)
Unrealised surplus/	(deficit)
Gain/loss on revaluation		ofassets		245,000
NET PROFIT				228,681

		for	the Year Ended 3June 2	022
			2022		2021
Rent received				98,817
Expenditure
Planned maintenance			6,653		4,367
Rates and water			2,050		1,616
Insurance			8,744		7,881
Light and heat			9,062		7,573
Routine maintenance			14,921		15,524
Garden maintenance			1,603		1,922
TVlicences			161		95
Cleaning			8,973		7,928
Monitoring ofcareline			7,621		19,205
Telephone			197		365
Sundry expenses			53
Legal &professional	fees		2,187
				62,225
				36,592
IJnrealised surplus/	(deficit)
Gain/loss on revaluation		ofassets		185,000
NET PROFIT				221,592

	for the Year Ended 3	June	2022
		2022		2021
	6
Income
Expenditure
Clerk and Receiver's fees			16,889
NET LOSS			~16,889)

			S~Ld'	S~Ld'	H
			Investment	Income-	Listed Investments
			Detailed	Profit and Loss Account
			for the	Year Ended 3June 2022
					2022	2021
					K
Income
Other income
Listed investments					3,093		1,391
					3,093		1,391
Unrealised	surplus/	(deficit)
Unrealised	defihmt on
revaluation	ofinvestments-
unrestricted	reserves				10,643		117,402
NET PROFIT					13,736		118,793

	for the Year Ended 3	June 2022
		2022	2021
	6
Income
Other income
Deposit account interest				364
				364
NETPROFIT				364

		for the Year Ended 3June	2022
		2022		2021
Income
Other income
Government	grants				8,000
					8,000
Expenditure
Insurance		2,761		575
Clerk and Receiver's fees		12,666		12,600
Telephone		1,212		315
Advertising				372
Sundry expenses Accountancy		553 5,492		561 5,436
Subscriptions		1,023		880
Auditors' remuneration		5,360		4,500
			29,067		25,239
			(29,067)		(17,239)
Finance costs
Bank charges			808		663
			(29,875)		(17,902)
Depreciation
Computer equipment			406		697
NET LOSS			~30,281)		~18,599)