##
|||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)||
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||||||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|
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|||~/o|
|---|---|---|
|||Applied|
|Building|structure|2|
|Windows/Doors||4|
|Roofs||2|
|Bathrooms||4|
|Kitchens||6.67|
|Heating|System|3.33|
|Boiler||10|
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|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|
##
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##
||||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|
##
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##
|Nu|mber of|Units in|Management||||
|---|---|---|---|---|---|---|
||||||2021|2020|
||||||Number|Number|
|At|beginning|and end|ofyear||||
|All|units are|managed|by Melin Homes|Ltd|||
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||||2021|2020|
|---|---|---|---|---|
|||||5|
|Social|Housing|Grant|158,453|158,453|
##
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|||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|