2020-12-31-accounts

			Page
Officers and professional advisers
Report of	the Trustees		2-5
Independent Auditors' Report to the Trustees			6-11
Statement	of Comprehensive Income		12
Statement	of Changes in Reserves		13
Statement	of Financial Position		14
Statement	of Cash flows		15
Notes to the financial statements			16-25
The following pages do not form part of the
statutory	financial statements:-
Statement	of Comprehensive Income (detailed)		26
Notes to	the Statement of Comprehensive	Income	27

Registered	Charity
Number:		219137
Trustees:		Dean of Monmouth	(No	longer	in pot	Mr H L Clatworthy
		Cllr M A Nuaimi				Mr A Thraves
		Mrs A Denniss				Mrs JJones
		Miss J Sollls (Deceased		Dec2020)		Mr I Metheun
		Mrs A Peginton				Mrs G Mills
		Mr A Ford				Ms M Jacobs (Appointed	Sep 2020)
		Mayor of Newport
Registered	Office:	Ty'r Efail
		Lower Mill Field
		Pontypool
		Torfaen NP4 OXJ
Managing	Agents:	Melin Homes Ltd
		Ty'r Efail
		I ower Mill Field
		Pontypool
		Torfaen NP4 OXJ
Auditors:		Haines Watts Wales	LLP
		Chartered Accountants		&
		Statutory Auditors
		7 Neptune Court
		Vanguard Way
		Cardiff
		CF 24 5PJ
Bankers:		National Westminster	Bank pic
		High Street
		Newport
		South Wales NP20	1GG
Solicitors:		Hugh James
		I-lodge House
		114-116St Mary Street
		Cardiff
		CF10 1DY
		(Property deeds (No.2508) are			deposited here)

						2020	2019
					Notes	E
Turnover					2	36,724	35,830
Less: Operating	costs					(32,628)	(28,942)
Operating surplus					3	4,096	6,888
Movement in fair	value		offinancial	instruments	7	3,458	43,675
Interest receivable		and	similar income		4	2,890	2,720
Interest payable	and similar charges				5
Surplus/(Deficit)		before tax				10,444	53,283
Tax
Surplus/(Deficit)		after	tax			10,444	53,283
Total Comprehensive			Income for the year			10,444	53,283

				Extraordinary
				Repair	Unrestricted
				Restricted	Revenue
				Reserve	Reserve
				f	f
At 1st January 2020				179,566	137,714
Surplus	from statement	ofcomprehensive	Income		10,444
Transfers to Restricted				(1,174)	1,174
Transfer	of Revaluation	on Restricted shares		2,491	(2,491)
At 31st	December 2020			180,883	146,841

As at 31st December	2020
			Notes		2020		2019
					E
Tangible fixed assets
Building Improvements
-gross cost less depreciation					61,227		66,382
					61,227		66,382
Listed Investments					271,087		261,324
					332,314		327,706
Current assets
Debtors			8	2,735		2,001
Building Society Deposit				17,535		17,456
Cash at Bank				35,434		33,749
				55,704		53,206
Creditors: Amounts	falling
due within one year			9	(12,745)		(11,937)
Net current assets					42,959		41,269
Total assets less current		liabilities			375,273		368,975
Creditors: Amounts	falling
due after more than	one year		10		(47,549)		(51,695)
Net assets					327,724		317,280
Capital and Reserves
Restricted Reserves					180,883		179,566
Revenue Reserves					146,841		137,714
					327,724		317,280

				2020	2019
Net cash generated	from operating	activites (see note 1)		5,178	7,524
Cash flow investing	activities
Interest received				2,890	2,720
Disposal/(Purchase)	of Investments			(6,304)	18,023
Cash flow from financing activities
Interest paid
Net change in cash	and cash equivalents			1,764	28,267
Cash and cash equivalents at beginning			ofthe year	51,205	22,938
Cash and cash equivalents at end ofthe			year	52,969	51,205
Note 1				2020	2019
Surplus/(Deficit) for the year				4,096	6,888
Adjustments for non	cash items:
Depreciation of tangible fixed asset				5,152	5,152
Amortisation ofgrant				(4,144)	(4,144)
Decrease/(Increase)	in trade debtors			(734)	(168)
Increase/(Decrease	in creditors)			808	(204)
Proceeds from Investments sale
Total				5178	7,524
Cash and Cash Equivalents Consist of:
Cash at bank				35,434	33,749
Deposits				17,535	17,456
				52,969	51,205

expected	useful life as follo	ws:
		0/0
		Applied
Building	structure	2
Windows/Doors		4
Roofs		2
Bathrooms		4
Kitchens		6.67
Heating	System	3.33
Boiler		10

					2020			2019
					Turnover	Operating	Operating	Turnover	Operating		Operating
						Costs	Surplus		Costs		Surplus
					f	E	E	f	E		f
Social housing licence charges					36.724	(32.628)	4.096	35,830	(28,942)		6,888
(Note 2(b))
					36.724	(32.628)	4.096	35,830	(28,942)		6,888
Income and expenditure	from social housing				licence charges
											2020	2019
							General
							needs and		Other soaal
							sheltered	Supported	housing	lettmg
							housing	Housing	income		Total	Total
							E	f	E		E	E
Income
Licence charge income							32,580				32.580	31,686
Service charge income
Income for support services
Other revenue grants
Amortised grants							4,144				4,144	4, 144
Turnover from social housing		licence charges					36 724				36 724	35830
Cost
Management costs							10,223				10,223	9.925
Service charge costs							0
Routine maintenance							10,385				10,385	6.610
Major repairs expenditure							0
Cyclical Redecoration							0
Bad debts							0
Depremation of housing	properties						5.152				5,152	5,152
Other costs							6,868				6,868	7.255
Operating costs on soaal housing			activities				32,628				32,628	28 942
Operating (deficit))surplus	on	social housing		licence charges			4,096				4.096	6.888
Licence charge loss due	to voids		(memorandum		note)		483				342	342

3	Operating Surplus	Operating Surplus
					2020	2019
	The operating surplus/deficit			is stated after chari	5
	Depreciation				5,152	5,151
	Bad Debt Provision
	Auditors' remuneration, including
	- In their capacity	as	auditors		1,749	1,728
4	Interest receivable and similar income
					2020	2019
					f
	Income from listed	investments			2,752	2,646
	Income from building		society account		138	74
					2,890	2,720
5	Interest payable	and similar		charges
					2020	2019
					E	E
	Interest payable	on	bank loans

	2020	2019
	E	F
Cost
At beginning ofyear	165,526	165,526
At end ofyear	165,526	165,526
Depreciation
At beginning ofyear	99,144	93,993
Charge for year	5,155	5,151
At end ofyear	104,299	99,144
Net book value
At end ofyear	61,227	66,362

	M&G	M&G	M&G		M&G
	Charity	Charity	Charity		Charity
	Accumulation	Accumulation	Income		Income
	No.	Value	No.		Value
		E			6
At 1 January 2020	1,168	111,577	34.085		30,804
Additions
Disposals
Revaluation		(3,550)			(2.301)
At 31 December 2020	1.166	108,027	34,085		28,503
	C O.I.F	C O. I F	C.O I.F		C O.I.F.
	Accumulation	Accumulation	Income		Income
	No	Value	No.		Value
		6			6
At 1 January 2020	358	67,989	3.008		50,954
Additions				416	7,479
Disposals	(6)	(1.174)
Revaluation		6,041			3,268
At 31 December 2020	352	72,856	3,424		61,701
	Total Listed
	Investment
	Value
	F
At 1 January 2020	261,324
Additions	7,479
Disposals	(1.174)
Revaluation	3,458
At 31 December 2020	271,087

being as follows.
			2020		2019
M&G Income Shares M&G Accumulation Shares			8362 9251 57	p p	90.37 9,55566	p p
COIF Accumulation Shares		20,660.30		p	18,97069	p
COIF Income Shares			1,801 14	p	1,692 87	p
The total value of the Accumulation		Funds is 6180,883			This represents	the total
restricted fund accumulated	for Extraordinary		Repairs.

8	DEBTORS				2020	2019
					6	E
	Arrears				1,083	386
	Less: bad debts	provision
					1,083	386
	Prepayments 8	accrued income			1,652	1,615
					2,735	2,001
9	Creditors: Amounts falling due				2020	2019
	within one year					F
	Licence charge	creditor			1,216	552
	Maintenance and Service Charges			Creditors	2,795	2,578
	Interest Creditor
	Audit Creditor				1,761	1,740
	Management fee payable				2,556	2,481
	Fresh pic loan due within one		year
	Prepaid Income				273	442
	Deferred Income net of amortisation				4,144	4,144
					12,745	11,937
10	Creditors: Amounts falling due
	after more than	one year			2020	2019
	Deferred Income	net of amortisiation			47,549	51,695
	Brought forward	Social Housing	Grant		138,475	138,475
	Amortised to 31 December 2019 Amortised during year Carried forward Social Housing Grant				(78,492) ~4, 144 51,693	(74,348) ~4, 144 55,839

Nu	mber of	Units in	Management
					2020	2019
					Number	Number
At	beginning	and end	ofyear
All	units are	managed	by Melin Homes	Ltd

			Notes		2020		2019
INCOME					E		F
Income					36,724		35,830
					36,724		35,830
EXPENDITURE
Management		fee			10,223		9,925
Rates					0		0
Day to day	repairs				10,385		6,610
Major Repairs					0		0
Cyclical Redecoration					0		0
Bad Debts					0
Service costs					3,749		3,699
Depreciation					5,152		5,152
Insurance					1,157		1,143
Audit fee					1,749		1,728
Subscriptions					178		170
Miscellaneous					35		515
					32,628		28,942
Operating	surplus		I(deficit)		4,096		6,888
Add: Other	Income
Income from		investments		2,752		2,646
Building Society deposit interest				138		74
					2,890		2,720
					6,986		9,608
Movement	on fair value of Financial			Instruments	3,458		43,675
Surplus I(deficit) for the year					10,444		53,283

	Income			2020	2019
				f	F
	Gross contributions	receivable	from occupants	33,063	32,028
	Less: Voids			(483)	(342)
	Grant Amortised			4,144	4,144
				36,724	35,830
2	MISCELLANEOUS			2020	2019
	Flowers for Residents
	Christmas Gifts				455
	Postage				7
	TV Licence				53
	Taxis			35
				35	515