#
##
##
||||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|