|||CONTENTS|| |---|---|---|---| ||||PAGE| |Trustees'|report||1 —4| |Auditors'|report||5-7| |Statement|of financial|activities|| |Balance sheet|||| |Notes to|the financial|statements|10-17| ## ## ## |Auditors:|Thomas and Young|Thomas and Young|Limited| |---|---|---|---| ||Carlton House||| ||266-268 Stratford||Road| ||Shirley||| ||Solihull||| ||West Midlands||| ||090 3AD||| |Bankers:|HSBC Bank PLC||| ||27S Stratford|Road|| ||Shirley||| ||Solihull||| ||West Midlands||| ||B903AP||| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |Statement of Financial Activiti|es||||||| |---|---|---|---|---|---|---|---| |||||||Total|Total| |||Ilnrestricted|Restricted|Designated|Endowment|Funds|Funds| |||Funds
f|Funds
f|Funds
f|Funds
f|2022
f|2021
f| ||Note||||||| |Income and endowments|||||||| |from:|||||||| |Donations
and legacies||8,512||||8,512|1,500| |Investment
income||2,659||||2,659|2,553| |Income from Charitable|||||||| |activlbes||332,513|||23,778|356,291|342,127| |Total income and endowments||343,684|||23,778|367,462|346,180| |Expenditure
on:|||||||| |Charitable
actiwbes|5|237J554||146,382|28,509|412,445|309,273| |Total expenditure||237,554||146,382|28,509|412,445|9,273| |Net income/(expenditure)|||||||| |before gains on investments||106,130||(146,382)|(4,731)|(44,983)|36,907| |Net gain on investments|||4,108|125,557|11,238|140,903|(5,276)| |Net income/(expenditure)||106,130|'i,108|(20,825)|6,507|95,920|31,631| |Transfers between
Funds||(85,201)||85I201|||| |Net movement offunds||20,929|4,108|64,376|6,507|95,920|31,631| |Recondliatton
offunds|||||||| |Total funds at 31ianuary 2021||387,904|29,742|708,030|355,340|1,481,016|1,449,385| |Total funds at 31Ianuary 2022||408,833|33,850|772,406|361,847|1,576,936|1,481,01| |||||||2022||2021| |---|---|---|---|---|---|---|---|---| ||||||||E|| |||||Note||||| |Fixed assets||||||||| |Tangible
Fixed Assets
Investments
at Market Value||||10
11||909/319
1,075,196||945,602
934,293| |||||||1,984,515||1,879,895| |Current Assets||||||||| |Debtors
Cash at bank and|in hand|||12|7,774
169,674||10,944
198,654|| ||||||177,448||209,598|| |Creditors||||||||| |Amounts
falling due within||one year
13|||(69,258)||(67,904)|| |Net Current Assets||||||108,190||141,964| |Total Assets Less Current||Liabilibes||||2,092,705||2,021,589| |Creditors||||||||| |Amounts
falling due in more than one year 14||||||(515,769)||(540,573)| |Net Assets||||||1,576,936||1,481,016| |Funds||||||||| |Unrestricted
funds||||||||| |General
fund
Designated
funds
Restricted funds
Endowment
funds||||15
15
15
15||408,833
772,406
33,850
361/847||387,904
708,030
29,742
355,340| |||||||1,576,936||1,481,016| |Approved
by the Board ofTrustees|||on|.........
...... ..............and signed||on their behalf by||| ||||) TRUSTEES|||||| |The notes on pages 10to 17||form part||ofthese accounts.||||| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||2022f|2021f| |---|---|---| |Dividends - equities
Interest —fixed income securibes
Interest —deposits|2,442
14
203|2,120
242
191| ||2,659|2,553| ## ## |Contribution
from Residents:|2022f|2021f| |---|---|---| |Maintenance
contributions
Service charges:|266,481|255,157| |- Home help service
- I-leating
—Alarm
Visitors room|4,347
48,901
8',614|4,060
50,116
8,916| |Social Housing
Grant released
Furlough
income|45
23I778
4,125|100
23,778| ||356,291|342,127| ## ## ||||AcUvities|undertaken|Support|| |---|---|---|---|---|---|---| |||||directly
f|COStS
f|Total
f| |Accommodation|for|Residents||316,865|95,580|412,445| ## ## ||Charitable|| |---|---|---| ||Activitiesf|Totalf| |Governance
Finance|26,133|26,133| |Depreciation
Office costs
Other|15,554
37,620
14,723
1,550|15,554
37,62D
14,723
1,550| ||95,580|95,580| ## ## |GOVERNANCE COSTS|GOVERNANCE COSTS|||| |---|---|---|---|---| ||||2022|2021| ||||E|E| |Audit Fee
Legal and professional
fees
Executive Officer's salaries and secretarial||services|6,000
0
19,709
425|6,000
0
17/735
352| |Pension contributions||||| ||||26,134|24,087| |COSTSOF ACTIVITIES UNDERTAKEN||DIRECTLY||| ||||2022|2021| ||||E|6| |Salaries
Cyclical maintenance
Extraordinary
repairs
Garden
maintenance
Day to day maintenance
Heating casts
Rates
Residents functions
and outings
Professional
fees
Alarm system
maintenance|||43,424
134,646
11,736
21,080
34,815
52,076
6,951
1,234
5,176
5,728|48,821
13,894
11,676
20,618
46,617
49,511
9,026
471
5,258
6/728| ||||316,866|212,620| |EMPLOYEES AND|TRUSTEES|||| ||||2022|2021| ||||6|E| |Wages and salaries
Social securky costs|||62,973|65,266
1,137
505| |Pension contribution||||| |Total emoluments|||63,557|66,908| |The average
|num|ber
of employe|es
was 4 (2021:4). Calculated
|on a full time equivalent
basis, analyse|by uncton,| |---|---|---|---|---|---| |was:||||NUMBER|NUMBER| |Direct Charitable||Expenditure|||| |Management|and|Administration|of Charity||| |All staff are|employed
by the Charity||||| ## |RACEWELL FOSTERT
S TO THE FINANCIAL
ENDED 313ANUARY|RUST
STATEME
2022|NT|(con|tintfe|d)|d)|||||| |---|---|---|---|---|---|---|---|---|---|---|---| |TAN GIB(,E FIXEDASSETS|||||Freehold||Fixtures||||| ||||||Housing
Properties
E||Fitbngs
tk
Equipment||||Total
E| |Cost or valuation|||||||||||| |At 31 January ?021|||||1,776,411||164,596
1,338|||1,941,007
1,338|| |Addeons|||||||||||| |Dtsposals
At 31January 2022|||||1,776,411||165,934|||I(942,345|| |Depreciation
At 31 January 2021||||||865,165||130,241|||995,406| |Charge for the year||||||28,509||9,111|||37,620| |Depreciation
on disposal|||||||||||| |At 31 January 2022||||||893,674||139,352|||1,033,026| |lset book value|||||||||||| |At 31)anuary 2022||||||882,737||26,582|||909,319| |At 31 January 2021||||||911,246||34,355|||945,601| |Up to and including the year ended 23)anuary
In the year ended 23 )anuary 2001 the Trust
previous
valuations
have been retained
they|||2000, it was the Trust's policy to revalue certain ofthe freehold propeities.
adopted the transitional
provisions of FR515Tangible
Fixed Assets.
Whilst
have not been updated.
From year ended 23 January 2001 it is the Trust's||||||||| |policy not to revalue fixed assets.|||||||||||| |The cost of depreciable
assets held with||non-depreciable|||assets amounts to E1,425,434 (2021:E1,425,434).||||||| |The properties
are now valued for insurance|||purposes at||E9,659,798(2021:E9,176,561).||||||| |In the opinion
of the Trustees, the present|||open|market|value of the housing||properties,
with vacant|||possession,
is|| |greatly
in excess oftheir net book value,|||||||||||| |INVESTMENTS||||||||2022|||2021| ||||||||||E||E| |Market value at 31)anuary|2021|||||||934,293|||939,569| |Net unrealised
investment|gain/(loss)|||||||140,903|||(5,276)| |Market value as at 31)anuary
2022||||||||1,075,196|||934,293| |Historical cost as at 31January
2022||||||||168,435|||168,435| |UK listed investments
are
Investment
and unit trusts|represented|by:||||||1,075J196|||934,293| ## ## ## ||||||||Market|Value| |---|---|---|---|---|---|---|---|---| ||||||||2022|2021| ||The following
investment
represents|||more than|5%ofthe Portfolio valuation:|||6| ||Chamico Acc Shares
Charities official investment
fund
Charishare
Acc shares
Schroder investment
charity fund||||||166,768
277,789
256,814
267,935|175,849
244,071
223,538
200,292| ||Reconciliation
of Movement|in|Unreaiised||Gains on Investment|Assets||| ||Unrealised
gains at 31January 2021|||||||765,858| ||hist surplus
arising on revaluations||for the period|||||140,903| ||Unrealised
gains at 31January 2022|||||||906,761| |12|DEBTORS|||||||| ||||||||2022|2021| ||||||||E|E| ||Other debtors
Prepayrnents
and accrued income||||||1,003
6,771|5,120
5,823| ||||||||7,774|10,943| |13|CREDITORS; AMOUNTS DUE WITHIN ONE YEAR|||||||| ||||||||2022|2021| ||||||||E|E| ||Other taxation and social security
Pension contributions
Other creditors and accruals
Deferred grant income||||||217
45,263
23,778|147
175
43,804
23,778| ||||||||69,258|67,904| |14|CREDITORS: AMOUNTS
DUE AFTER MORE THAN ONE YEAR|||||||| ||||||||2022|2021| ||||||||E|E| ||Loan
Deferred grant income||||||159I103
356,666|160,129
380,444| ||||||||515,769|540,573| ## ## ## ##