2021-12-31-accounts

		Page
Officers and professional advisers
Report ofthe Trustees		4-7
Independent Auditors' Report to the Trustees		8-12
Statement of Comprehensive Income		13
Statement of Changes in Reserves		14
Statement of Financial Position		15
Statement of Cash flows		16
Notes to the financial statements		17-26
The following pages do not form part ofthe
statutory financial statements:-
Statement ofComprehensive Income (detailed)		27
Notes to the Statement of Comprehensive	Income	28

National Assembly	National Assembly	for Wales
Registered	Number:	A070
Registered	Charity
Number:		219137
Trustees:		Dean of Newport			Mr	H LClatworthy
		Cllr M A Nuaimi			Mr	A Thraves
		Mrs A Denniss (Resigned Sep 2021)			Mrs JJones
		Mrs A Peginton	(Resigned Sep 2021)		Mr	I Metheun
		Mr A Ford			Mrs G Mills
		Mayor of Newport			Ms	M Jacobs
		Ty'r Efail
Registered	Office:	Lower Mill Field
		Pontypool
		Torfaen NP4 OXJ
		Melin Homes Ltd
Managing	Agents:	Ty'r Efail
		Lower Mill Field
		Pontypool
		Torfaen NP4 OXJ
		Haines Watts Wales LLP
Auditors:		Chartered Accountants		&
		Statutory Auditors
		7 Neptune Court
		Vanguard Way
		Cardiff
		CF24SPJ
		National Westminster		Bank pic
Bankers:		High Street
		Newport
		South Wales NP20 1GG
		Hugh James
Solicitors:		Hodge House
		114-116St Mary	Street
		Cardiff
		CF101DY
		(Property deeds	(No.2508) are deposited		here)

					2021	2020
				Notes	6	6
Turnover				2	37,354	36,724
Less: Operating	costs				(35,810)	(32,628)
Operating surplus				3	1,544	4,096
Movement in fair	value	of financial	instruments	7	38,118	3,458
Interest receivable and		similar income		4	3,042	2,890
Interest payable	and similar charges			5
Surplusl(Deficit)	before tax				42,704	10,444
Tax
Surplus/(Deficit)	after	tax			42,704	10,444
Total Comprehensive		Income for the year			42,704	10,444

As at 31stDecember	2021
			Notes		2021		2020
					f,		6
Tangible fixed assets
Building Improvements
-gross cost less depreciation					56,072		61,227
					56,072		61,227
Listed Investments					314,880		271,087
					370,952		332,314
Current assets
Debtors			8	2,364		2,735
Building Society Deposit				17,535		17,535
Cash at Bank				36,611		35,434
				56,510		55,704
Creditors: Amounts	falling
due within one year			9	(13,629)		(12,745)
Net current assets					42,881		42,959
Total assets less current		liabilities			413,833		375,273
Creditors: Amounts	falling
due after more than	one year		10		(43,405)		(47,549)
Net assets					370,428		327,724
Capital and Reserves
Restricted Reserves					206,840		180,883
Revenue Reserves					163,588		146,841
					370,428		327,724

			2021	2020
Net cash generated	from operating activites (see note 1)		3,807	5,178
Cash flow investing	activities
Interest received				2,890
Disposal/(Purchase)	of Investments			(6,304)
Cash flow from financing activities
Interest paid
Net change in cash	and cash equivalents		1,177	1,764
Cash and cash equivalents at beginning		ofthe year	52,969	51,205
Cash and cash equivalents at end ofthe		year	54,146	52,969
Note 1			2021	2020
Surplus/(Deficit) for the year			1,544	4,096
Adjustments for non	cash items:
Depreciation of tangible fixed asset			5,152	5,152
Amortisation of grant			(4,144)	(4,144)
Decrease/(increase)	in trade debtors		371	(734)
Increase/(Decrease	in creditors)		884	808
Proceeds from Investments sale
Total			3,807	5,178
Cash and Cash Equivalents Consist of:
Cash at bank			36,611	35,434
Deposits			17,535	17,535
			54,146	62,969

				2021			2020
				Turnover	Operating	Operating	Turnover	Operating	Operating
				f	Costs E	Surplus 5	E	Costs E	Surplus f
Social	housing	licence	charges	37,354	(35,810)	1,544	36,724	(32,628)	4,096
(Note	2(b))
				37,354	(35,810)	1,544	36,724	(32,628)	4,096

										2021	2020
						General
						needs and		Other social
						sheltered	Supported	housing	letting
						housing	Housing	income		Total	Total
						E	E	E		E	E
Income
Licence charge income						33,210				33,210	32,580
Service charge tncome
Income for support services
Other revenue grants
Amortised grants						4,144				4,144	4,144
Turnover from social housing		licence charges				37,354				37.354	36.724
Cost
Managemenl costs						10,530				10,530	10,223
Service charge costs						0
Routine maintenance						11,314				11.314	10,385
Major repairs expenditure						0
Cyclical Redecoration						0
Bad debts						0
Depreciation of housing	properties					5,152				5,152	5,152
Other costs						8,814				8,814	6,868
Operating costs on social housing			activities			35,810				35,810	32,628
Operating (deficit)lsurplus	on	social housing		licence charges		1,544				1,544	4,096
Licence charge loss due	to voids		(memorandum		note)					386	483

		~/o
		Applied
Building	structure	2
Windows/Doors		4
Roofs		2
Bathrooms		4
Kitchens		6.67
Heating	System	3.33
Boiler		10

3	Operating Surplus
			2021	2020
	The operating surplus/deficit	is stated after chan	E	E
	Depreciation		5,152	5,152
	Sad Debt Provision
	Auditors' remuneration, including
	- In their capacity as auditors		1,755	1,749
4	Interest receivable and similar income
			2021	2020
			E	E
	Income from listed investments		2,963	2,752
	Income from building society account		79	138
			3,042	2,890
5	Interest payable and similar	charges
			2021	2020
			E	E
	Interest payable on bank loans

	2021	2020
	6	6
Cost
At beginning ofyear	165,526	165,526
At end ofyear	165,526	165,526
Depreciation
At beginning ofyear	104,299	99,144
Charge for year	5,155	5,155
At end ofyear	109,494	104,299
Net book value
At end ofyear	56,072	61,227

			M&G	M&G	M&G		M&G
			Charity	Charity	Charity		Charity
			Accumulation	Accumulation	Income		Income
			No.	Value	No.		Value
				6			E
At 1January	2021		1,168	108,027	34,085		28,503
Additions
Disposals
Revaluation				14,231			2,567
At 31December		2021	1,168	122,258	34,085		31,070
			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 1January	2021		352	72,856	3,424		61,701
Additions						317	6,621
Disposals			(3)	(946)
Revaluation				12,672			8,648
310	x	2021	341	8 .582	3,	1	6.9i0

	Total Listed
	Investment
	Value
	E
At 1January 2021	271,087
Additions	6,621
Disposals	(946)
Revaluation	38,118
At 31December 2021	314,880

being as follows:
		2021		2020
M&G Income Shares		91.15	p	83.62	p
M&G Accumulation Shares		10,470.35	p	9,251.57	p
COIF Accumulation Shares COIF Income Shares		24,252,25 2,056.64	p p	20,660.30 1,801.14	p p
The total value of the Accumulation		Funds is6206,840.	This	represents	the total
restncted fund accumulated	for Extraordinary Repairs.

8	DEBTORS		2021	2020
			6	E
	Arrears		610	1,083
	Less: bad debts provision
			610	1,083
	Prepayments &accrued income		1,754	1,652
			2,364	2,735
9	Creditors: Amounts falling due within one year		2021 6	2020 f
	Licence charge creditor		1,476	1,216
	Maintenance and Service Charges Creditors		3,404	2,795
	Audit Creditor		1,788	1,761
	Management fee payable		2,632	2,556
	Prepaid Income		185	273
	Deferred Income net of amortisation		4,144	4,144
			13,629	12,745
10	Creditors: Amounts falling due
	after more than one year		2021	2020
	Deferred Income net of amortisiation		45495	47,549
	Brought forward Social Housing	Grant	138,475	138,475
	Amortised to31December 2020		(82,636)	(78,492)
	Amortised during year		4,144	4,144
	Carried forward Social Housing	Grant	47,54	51,6 3

Nu	mber of	Units in	Management
					2021	2020
					Number	Number
At	beginning	and end	ofyear
All	units are	managed	by Melin Homes	Ltd

			2021	2020
				5
Social	Housing	Grant	158,453	158,453

		Notes	Notes	2021		2020
INCOME				6		6
Income				37,355		36,724
				37,355		36,724
EXPENDITURE
Management	fee			10,530		10,223
Rates				0		0
Day to day repairs				11,314		10,385
Major Repairs				0		0
Cyclical Redecoration				0		0
Bad Debts				0		0
Service costs				5,124		3,749
Depreciation				5,152		5,152
Insurance				1,278		1,157
Audit fee				1,755		1,749
Subscriptions				182		178
Miscellaneous				476		35
				35,811		32,628
Operating surplus		I(deficit)		1,544		4,096
Add: Other Income
Income from investments			2,963		2,752
Building Society deposit interest			79		138
				3,042		2,890
				4,586		6,986
Movement on	fair value of Financial		Instruments	38,118		3,458
Surplus I(deficit) for the year				42,704		10,444

1	Income			2021	2020
				E	5
	Gross contributions	receivable	from occupants	33,597	33,063
	Less: Voids			(386)	(483)
	Grant Amortised			4,144	4,144
				37,355	36,724

2	MISCELLANEOUS	2021	2020
	Flowers for Residents
	Vouchers	476
	Postage
	TV Licence
	Taxis		35
		476	35