**Charity Registration No. 218376** 

## **CLIFTON PARISH HOUSES** 

**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS** 

**FOR THE YEAR ENDED 31 MARCH 2021** 




## **CLIFTON PARISH HOUSES** 

## **LEGAL AND ADMINISTRATIVE INFORMATION** 

## **Trustees** 

Mr K Cahill Mrs L Palmer Mr A Harris Mr D Pritchard 

(Appointed 26 May 2021) (Appointed 26 May 2021) 

**Charity number** 218376 

## **Principal address** 

## **Independent examiner** 

The Old Granary Lilbourne Road Clifton upon Dunsmore Rugby Warwickshire CV23 0BB 

Cottons Accountants LLP Chestnut Field House Chestnut Field Rugby Warwickshire England CV21 2PD 



## **CLIFTON PARISH HOUSES** 

## **CONTENTS** 

||**Page**|
|---|---|
|Report of the trustees|1 - 2|
|Independent examiner's report|3|
|Statement of financial activities|4|
|Balance sheet|5|
|Notes to the financial statements|6 - 10|





## **CLIFTON PARISH HOUSES** 

## **REPORT** 

## _**FOR THE YEAR ENDED 31 MARCH 2021**_ 

The Trustees present their report and financial statements for the year ended 31 March 2021. 

## **Objectives and activities** 

The object of the Charity is the relief of poverty and/or sickness by the provision of housing accommodation for persons who are inhabitants of the Parish of Clifton-upon-Dunsmore or whose spouse, parent, child, brother or sister shall reside in the area of benefit on terms according to their means. 

The Charity currently has sixteen properties under management and rents are subsidised from the gains earned on the Charity’s current asset investments. The total market value of these investments at 31st March 2021 was £168,988 whereas they are recorded in the accounts at £13,271. The surplus for the year amounted to £48,928. 

## **Achievements and performance** 

## **Financial review** 

It is the policy of the Charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The Trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year. 

The Trustees has assessed the major risks to which the Charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. 

## **Structure, governance and management** 

The charity known as Clifton Parish Houses comprised in conveyance and trust deeds dated 2nd May 1899, 4th February 1925 and 23rd September 1930 and the Charity known as the Nurses Residence comprised in a conveyance and trust deed dated 20th March 1933 were approved and established as the Parish Houses Charity Housing Association by the Charity Commissioners on 24th September 1997. The Charity Registration No. is 218376. 

The Trustees who served during the year and up to the date of signature of the financial statements were: 

Mr David Thomas Parry Walters Resigned 01 Feb 2021, effective 26 May 2021 Mr Kevin Cahill Chairman Co-opted Clifton Parish Houses Mrs Michelle Davison Resigned 08 Apr 2021, effective 26 May 2021 Mrs Lynda Palmer Co-opted Clifton Parish Houses Mr Alan Harris Co-opted Appointed 26 May 2021 Clifton Parish Houses Mr David Pritchard Co-opted Appointed 26 May 2021 Clifton Parish Houses 

The Charity can be contacted through its Clerk via ClerktotheTrustees@CliftonParishHouses.org.uk and 07999021849. 

- 1 - 



CLIFfoN PARISH HOUSES
REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
The Irustee5 are required under legi$L4lKJn rdatwlg lo Regi51ertyd &)oal LandlDrds trj prepare financial
ststemenls lor each year whKh gNe a true and lair view of Ihe slate of affairs of the 8ssocial￿n at Ihe end of
finanryal year and ol the incorne and expendilure of the a550Ciation forthe year ended on Ih3t date.
In pre￿rIng th•5e financial 5t8lemorts the trustees ¥equ¥ed lo..
sele¢l suitablts BccounDng pe41w$ end appty them ccffj51$t•n1￿',
• rn8ke ￿8$Onable aThJ prudenlpHJgements and estimates:
• st819 whether applilzble $¢¢ounliThJ slandards and st8t•n*n¢s of recorNnwthd prac¢iee have been
fc41owed, and giv• deloils ol any deparlures.. aryj
prepare the finanoal statements M a 0)1￿ concem ts￿8 unl•u in wr view Ihe as6c¢k31ion will bg
unable lo continue in txJsines$.
The Iruslees are responsible for keeping Proper ac¢LKJnting records Ihai disclose with r•asonab18 aC￿r8¢Y at
any lime the financial posilbon ol Ihe charity. They are also respM$ib￿ for saleguarding the asseis of the
charity and h•rKe for takir¥J rea$￿atyle sleps lor the preVen￿)n aThJ deleclK)n ol Iraud and olher irre9ularilio5.
The charity will bè IransitK)nifig to th& Chwit￿$ Slalemenl of Rècomme￿ Prxlicè for the year en￿d 31st
March 2022.
behalfof the Twst8es
Mr K Cahlll
chairr￿n
Dated..

CLIFtON PARISH HOUSES
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF CLI￿oN PARISH HOUSES
I report lo the Ttuslees my examwlion of Ihe finwAal statements of Clifton Parish Houses (the Charilyl
for the year ended 31 March 2021.
Resp¢*llsibllltles and basi5 of report
The Trustees ol Ihe Clifton Parish Hovs•$ are ￿$p￿S0ble frx the prewatlon of Ihe accounts. and thgy
consider that the Clifton Parish Htyjses Is exèmpt fr(*n an audrt.
It Ss my r¢spon%blily lo carry out pmdwes designed to gnobb• us lo rwi ouropiThon.
Independent examiner's $taternenl
My procedures consisted of compwng Ihe a¢counls Ihe accounliThJ records kepl by Ihe c11ftc￿ Parish
Houses and Ma￿ng Such enquiie$ of tho offKers of the chiion Parish Housés considered necessary for th
purpose of thi$ report. These Pr￿edureS prowde the assurance exKffessed in my opith.
I have ¢(mp1eled my exan4nation. In my cpinion..
the ac¢ounl$ lor the ended 3tSl March 2021 are in accordanee wilh Iho attOLW>iing r袢yd$ k•pl
by the Clifton Parish Houses under paragraph 135(2Xal of Ihe Housing and Regeneraiion Act 2008..
having regarrl only to. and on lh• basis of Ihe ln1￿Mation rJ)ntained in tha ac(•)unling 1ocord8'.
the accounls Comply %wth Ihe wuir8m8nts ol the Chariles Acl 2011:
the Clillon Parish Houses has satisfied Ihe Condi￿n3 for exemplign from 8n ¥udil of the accounls for
Ihe year •nded 31$t Mor¢h 2021 sp•afi8d in sectKJn 136131 ol Ihe Housing and R￿neratIon Act
2008..
the accounts compty wilh the requw8m•ni$ of lh¢ Housry 8nd Reg•n8¥8iion Ad 2008 and th•
Ac¢ourtlin9 Dir•cllon lor privat• r•gl$t•r•d provhltr5 of 50caal hou$iNd In Englbnd 2019.
I have no eoncems and hav• come acros$ r¥) olher mallets wilh the •xamination lo whnh
attention should b• drawn in this fepJt in crter lo en8bb 8 prop•r un¢J8rstandiro of th& financial 51aternenls
to be reached.
Mr M W Palmer
F.C.A
COttonsA￿o￿nIants LLP
CheslnLrt Field Hou$9
Chesinut Field
Rugby
Warwickshire
CV212PD
England
DBt8d..

## **CLIFTON PARISH HOUSES** 

## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 31 MARCH 2021**_ 

||||**Unrestricted **|**Unrestricted **|**Endowment**|**Total**|Unrestricted|Endowment|Total|
|---|---|---|---|---|---|---|---|---|---|
|||||**funds**|**funds**||funds|funds||
||||||**designated**|||designated||
|||||**2021**|**2021**|**2021**|2020|2020|2020|
||||**Notes**|**£**|**£**|**£**|**£**|**£**|**£**|
|**Income from:**||||||||||
|Charitable activities|||**2**|75,173|-|75,173|74,340|-|74,340|
|||||||||||
|**Expenditure on:**||||||||||
|Charitable activities|||**3**|26,245|-|26,245|19,888|-|19,888|
|||||||||||
|**Net income for the year/**||||||||||
|**Net movement in**||**funds**||48,928|-|48,928|54,452|-|54,452|
|Fund balances|at 1|||||||||
|April 2020||||534,078|178,461|712,539|479,626|178,461|658,087|
|||||||||||
|**Fund balances at 31**||||||||||
|**March 2021**||||583,006|178,461|761,467|534,078|178,461|712,539|



The statement of financial activities includes all gains and losses recognised in the year. 

All income and expenditure derive from continuing activities. 

- 4 - 



CLIFTON PARISH HOUSES
BALANCE SHEET
AS AT 31 MARCH 2021
2021
2020
Notes
Flxed assets
Tangible assets
756,168
756,168
Current assets
Oebtors
Investmenls
Cash at bank and in hand
837
13,271
17.432
13,271
32,280
45.851
31,540
Cr•ditor&.' •mounts falllng du¢ wllhln
one year
10
113.S961
139,0321
Nel current a$8etsllliabllilwl
32.255
17,4921
Total a$••ts 1•58 curr•ni Il•bllltl••
788,423
748,676
Cr¢ditors- amounts falling du• aftor
mor• Ihan on• y•ar
11
{26.9%1
136,1371
N•t a$se15
761.467
712,539
In¢ome funds
Designaled fundi
Un￿strICted funds
178.461
178,461
534,078
761.467
712,539
The finantyal stalemeThls ￿re aFvoved by Ihe Trustees ￿ .................
on 115
If by..
o J.ei.LJ
Mf K Cahill
Chairman
Mr O Prilc*ard
Trustee

## **CLIFTON PARISH HOUSES** 

## **NOTES TO THE  FINANCIAL STATEMENTS** 

## _**FOR THE YEAR ENDED 31 MARCH 2021**_ 

## **1 Accounting policies** 

## **Charity information** 

The Association is a registered charity and a registered social landlord. 

## **1.1 Accounting convention** 

The financial statements have been prepared in accordance with applicable accounting Standards and the Statement of Recommended Practice "Accounting by Registered Social Landlords 2018" and the Accounting Requirements for Registered Social Landlords General Determination 2006. 

The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £. 

## **1.2 Going concern** 

At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements. 

## **1.3 Charitable funds** 

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives. 

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. 

## **1.4 Income** 

Turnover represents rents, including the netting off of any rents not received, i.e. bad debts, service charges receivable and revenue grants receivable from central government and local authorities. 

## **1.5 Tangible fixed assets** 

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. 

Freehold land and buildings 0% Housing association grant 0% 

Housing properties are stated at cost less applicable grants. The provisions of Financial Reporting Standard 15 are accepted by the trustees. However, the trustees consider that the lives of these assets are so long and the residual values are so high that the depreciation is not material. 

Grants for capital expenditure are deducted from the cost of the fixed asset to which they relate as they become receivable. Grants received in advance of relevant expenditure are included in current liabilities and represent amounts to be utilised in the next accounting period. Grant claims prior to the year end, in respect of relevant expenditure incurred, but not received until after the year end are included in current assets. 

Grants for revenue expenditure are credited to the income and expenditure account as they become receivable. 

- 6 - 



## **CLIFTON PARISH HOUSES** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** 

## _**FOR THE YEAR ENDED 31 MARCH 2021**_ 

## **1 Accounting policies** 

## **(Continued)** 

## **1.6 Cash and cash equivalents** 

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 

## **1.7 Taxation** 

The association has charitable status and is therefore not subject to corporation tax on its surplus. 

## **1.8 Investments** 

Investments are stated at cost less any provision for permanent diminution in value. 

## **1.9 Value added tax** 

The charity is not registered for value added tax and consequently, where the charity has been charged value added tax by external suppliers, figures within these financial statements are recorded inclusive of value added tax. 

## **2 Charitable activities** 

||**2021**|**2020**|
|---|---|---|
||**£**|**£**|
|Charitable rental income|75,173|74,340|



- 7 - 



## **CLIFTON PARISH HOUSES** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** 

## _**FOR THE YEAR ENDED 31 MARCH 2021**_ 

## **3 Charitable activities** 

||**2021**|**2020**|
|---|---|---|
||**£**|**£**|
|Gardening|960|530|
|Light and heat|726|705|
|Clerk's fees|5,211|6,141|
|Bank loan interest|1,409|2,794|
|Cleaning|595|1,285|
|Subscriptions|586|565|
|Insurance|1,433|1,462|
|Water|153|112|
|Professional fees|156|306|
|Property maintenance|13,893|4,751|
|Printing, postage and stationery|5|22|
|Telephone|92|102|
|Audit and accountancy|786|762|
|Sundry|240|351|
||||
||26,245|19,888|
||||
||26,245|19,888|



## **4 Trustees** 

There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020. 

## **Trustees' expenses** 

There were trustees' expenses of £80 RBC Green Bins payment and £300 QuickBooks Online software for 12 months paid for the year ended 31 March 2021 and £161 QuickBooks Online software and domain costs for the year ended 31 March 2020. 

## **5 Employees** 

The average monthly number of employees during the year was: NIL 

|**2021**|**2020**|
|---|---|
|**Number**|**Number**|
|1|1|



- 8 - 



## **CLIFTON PARISH HOUSES** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** 

## _**FOR THE YEAR ENDED 31 MARCH 2021**_ 

|**6**|**Tangible fixed assets**|||||||
|---|---|---|---|---|---|---|---|
|||**Freehold land**|||**Housing**||**Total**|
|||**and**|**buildings**|**association**||||
||||||**grant**|||
||||**£**||**£**||**£**|
||**Cost**|||||||
||At 1 April 2020||847,660||(91,492)||756,168|
|||||||||
||At 31 March 2021||847,660||(91,492)||756,168|
|||||||||
||**Carrying amount**|||||||
||At 31 March 2021||847,660||(91,492)||756,168|
||At 31 March 2020||847,660||(91,492)||756,168|
|**7**|**Debtors**|||||||
||||||**2021**||**2020**|
||**Amounts falling due within one year:**||||**£**||**£**|
||Trade debtors||||-||537|
||Prepayments and accrued income||||300||300|
|||||||||
||||||300||837|
|**8**|**Current asset investments**|||||||
||||||**2021**||**2020**|
||||||**£**||**£**|
||National Association of Almshouses|||||||
||Common Investment Fund||||13,271||13,271|



The market value for the investment at the 31st March 2021 is £168,988 (2020 £131,499). 

During the year nothing (2020 NIL) was withdrawn from the investment to fund refurbishment costs. 

## **9 Loans and overdrafts** 

|**Loans and overdrafts**||||
|---|---|---|---|
||**2021**||**2020**|
||**£**||**£**|
|Bank loans|35,632||71,265|
|Payable within one year|8,676||35,128|
|Payable after one year|26,956||36,137|



The bank loan is secured by a legal charge over the freehold land to the rear of 2-12 South Road, Clifton on Dunsmore. 

- 9 - 



## **CLIFTON PARISH HOUSES** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** 

## _**FOR THE YEAR ENDED 31 MARCH 2021**_ 

## **10 Creditors: amounts falling due within one year** 

|||||||||||||**2021**|||**2020**||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||**Notes**||||||**£**|||**£**||
||Bank loans||||||**9**|||||8,676|||35,128||
||Other creditors|||||||||||3,362|||3,328||
||Accruals and deferred income|||||||||||1,558|||576||
||||||||||||||||||
||||||||||||13,596||||39,032||
|**11**|**Creditors: amounts falling due after more than one year**||||||||||||||||
|||||||||||||**2021**|||**2020**||
|||||||**Notes**||||||**£**|||**£**||
||Bank loans||||||**9**||||26,956||||36,137||
|**12**|**Analysis of net assets between funds**||||||||||||||||
||**Income &**||**Designated**|||**Total**|Income &|||Designated|||||Total||
||**expenditure**|||**funds**|||expenditure|||||funds|||||
|||**reserve**||||||reserve|||||||||
|||**2021**||**2021**||**2021**||2020||||2020|||2020||
|||**£**||**£**||**£**||£|||||£||£||
||Fund balances at 31||||||||||||||||
||March 2021 are||||||||||||||||
||represented by:||||||||||||||||
||Tangible assets|577,707||178,461||756,168||756,168|||||-||756,168||
||Current assets/||||||||||||||||
||(liabilities)|32,255||-||32,255||(7,492)|||||-||(7,492)||
||Long term liabilities|(26,956)||-||(26,956)||(36,137)|||||-||(36,137)||
||||||||||||||||||
|||583,006||178,461||761,467||712,539|||||-||712,539||
|**13**|**Accomodation in management**||||||||||||||||
|||||**2021**|||||||**2020**||||||
||Housing properties|||16||||||||16|||||
|**14**|**Average rent**||||||||||||||||
|||||**2021**|||**2020**|||||**Percentage**|||||
|||||||||||||**Increase**|||||
|||||**£**|||**£**||||||||||
||Average assured tenancy weekly rent|||90.35|||89.35|||||1.0%|||||



- 10 -