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||||Page|
|---|---|---|---|
|Officers and professional
advisers||||
|Report ofthe|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 ofthe|||
|statutory
financial statements:-||||
|Statement
of|Comprehensive
Income (detailed)||26|
|Notes to the Statement
of Comprehensive||Income|27|
##
##
|National|Assembly|Assembly|for|Wales||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|Registered||Number:||A070||||||||||||||
|Registered||Charity||||||||||||||||
|Number:||||219137||||||||||||||
|Trustees:||||Dean of Newport||(resigned|||13th|January|2023)|Mr H L Clatworthy||(resigned|||13th January 2023)|
|||||Cllr M A Nuaimi|(resigned||||13th January 2023)|||MrA1hraves|(resigned|||13th January 2023)||
|||||Mr
I Metheun
(resigned||||13th January 2023)||||Mrs JJones|(resigned|||13th|January 2023)|
|||||Mr A Ford (resigned|||13th January 2023)|||||Mrs G Mills (resigned|||13th January 2023)|||
|||||Mayor of Newport||(resigned|||13th January||2023)|Ms M Jacobs|(resigned|||13th January 2023)||
|||||Matin Homes Limited|||(appointed|||13th January 2023)||||||||
|||||Ty'r Efail||||||||||||||
|Registered||Office:||Lower Mill Field||||||||||||||
|||||Pontypool||||||||||||||
|||||Torfaen NP4 OXJ||||||||||||||
|||||Matin 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||||||||||||||
|||||CF 24 5PJ||||||||||||||
|||||National
Westminster||||Bank pic||||||||||
|Bankers:||||High Street||||||||||||||
|||||Newport||||||||||||||
|||||South Wales
NP20|||1GG|||||||||||
|||||Hugh James||||||||||||||
|Solicitors:||||Hodge House||||||||||||||
|||||114-116St Mary|Street|||||||||||||
|||||Cardiff||||||||||||||
|||||CF10 IDY||||||||||||||
|||||(Property deeds|(No.2508)||||are deposited||here)|||||||
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Vanguard Way
Cardiff
CF 24 5PJ
Date..
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##
|||||||2022|2021|
|---|---|---|---|---|---|---|---|
||||||Notes|6|6|
|Turnover|||||2|35,594|37,354|
|Less: Operating|costs|||||(90,185)|(35,810)|
|Operating
surplus|||||3|(54,591)|1,544|
|Movement
in fair|value||offinancial|instruments|7|(17,164)|38,118|
|Interest receivable||and|similar income||4|3,399|3,042|
|Interest payable|and similar charges||||5|||
|Surplus/(Deficit)||before tax||||(68,356)|42,704|
|Tax||||||||
|Surplus/(Deficit)||after|tax|||(68,356)|42,704|
|Total Comprehensive|||income for|the year||(68,356)|42,704|
##
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||||Notes||2022||2021|
|---|---|---|---|---|---|---|---|
||||||6||6|
|Tangible fixed assets|||6|||||
|Building
Improvements||||||||
|-gross cost less depreciation|||||75,557||56,072|
||||||75,557||56,072|
|Listed Investments|||||262,079||314,880|
||||||337,636||370,952|
|Current assets||||||||
|Debtors|||8|2,444||2,364||
|Building Society Deposit||||17,693||17,535||
|Cash at Bank||||491||36,611||
|||||20,628||56,510||
|Creditors: Amounts|falling|||||||
|due within one year|||9|(16,931)||(13,629)||
|Net current assets|||||3,697||42,881|
|Total assets less current||liabilities|||341,333||413,833|
|Creditors: Amounts|falling|||||||
|due after more than|one year||10||(39,261)||(43,405)|
|Net assets|||||302,072||370,428|
|Capital and Reserves||||||||
|Restricted Reserves|||||160,344||206,840|
|Revenue Reserves|||||141,728||163,588|
||||||302,072||370,428|
##
|||||2022|2021|
|---|---|---|---|---|---|
|||||E||
|Net cash generated|from operating
activites (see note 1)|||(50,366)|3,807|
|Cash flow investing|activities|||||
|Interest received||||3,399|3,042|
|Disposal/(Purchase)|of Investments|||35,637|(5,672)|
|Cash flow from financing
activities||||||
|Component
Replacements||||(24,632)||
|Interest
paid||||0||
|Net change
in cash|and cash equivalents|||(35,962)|1,177|
|Cash and cash equivalents||at beginning|ofthe year|54,146|52,969|
|Cash and cash equivalents||at end ofthe|year|18,184|54,146|
|Note
1||||2022|2021|
|Operating
Surplus/(Deficit)||for the year||(54,591)|1,544|
|Adjustments
for non|cash items:|||||
|Depreciation
of tangible
fixed asset||||5,147|5,152|
|Amortisation
ofgrant||||(4,144)|(4,144)|
|Decrease/(Increase)|in trade|debtors||(80)|371|
|Increase/(Decrease|in creditors)|||3,302|884|
|Proceeds from Investments||sale||||
|Total||||-50,366|3,807|
|Cash and Cash Equivalents||Consist of:||||
|Cash at bank||||491|36,611|
|Deposits||||17,693|17,535|
|||||18,184|54,146|
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##
||Applied|
|---|---|
|Building structure|2|
|Windows/Doors|4|
|Roofs|2|
|Bathrooms|4|
|Kitchens|6.67|
|Heating System|3.33|
|Boiler|10|
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||||||||2022||||2021|||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||Turnover|Operating|Operating||Turnover|Operating||Operating||
|||||||||Costs|Surplus||||Costs|Surplus||
|||||||||||6||||f||
|Social housing
licence charges|||||||35,594|(90,185)||(54,591)|37,354||(35,810)|1,544||
|(Note 2(b))||||||||||||||||
||||||||35,594|(90,185)||(54,591)|37,354||(35,810)|1,544||
|Income and expenditure|||from social housing||||licence charges|||||||||
|||||||||||||||2022|2021|
||||||||||General|||||||
||||||||||needs|and||Other social||||
||||||||||sheltered||Supported|housing|letting|||
||||||||||housing||Housing|income||Total|Total|
|||||||||||6|6||||f|
|Income||||||||||||||||
|Licence charge income||||||||||31,450||||31,450|33,210|
|Service charge income||||||||||||||||
|Income for support|services|||||||||||||||
|Other revenue
grants||||||||||||||||
|Amortised
grants||||||||||4, 144||||4, 144|4,144|
|Turnover
from somal housmg||||licence charges||||||35,594||||35,594|37,354|
|Cost||||||||||||||||
|Management
costs||||||||||10,846||||10,846|10,530|
|Service charge costs||||||||||||||||
|Routine maintenance||||||||||50,726||||50,726|11,314|
|Major repairs expenditure||||||||||||||||
|Cyclical Redecoration||||||||||13,207||||13,207||
|Bad debts||||||||||||||||
|Depreciation
of housing||properties||||||||5,152||||5,152|5,152|
|Other costs||||||||||10,254||||10,254|8,814|
|Operating
costs on|social||housing||activities|||||90,185||||90,185|35,810|
|Operating
(deficit)/surplus|||on|social housing||licence charges||||(54,591)||||(54,591)|1,544|
|Licence charge loss|due||to voids||(memorandum||note)|||(2,528)||||(2,528)|(386)|
##
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##
|3|Operating
Surplus|||||
|---|---|---|---|---|---|
|||||2022|2021|
||The operating
surplus/deficit||is stated after char!|f|f|
||Depreciation|||5,152|5,152|
||Bad Debt Provision|||||
||Auditors'
remuneration,
including|||||
||- In their capacity as auditors|||2,633|1,755|
|4|Interest receivable|and similar income||||
|||||2022|2021|
|||||f|f|
||Income from listed investments|||3,320|2,963|
||Income from building|society account||79|79|
|||||3,399|3,042|
|5|Interest payable and similar||charges|||
|||||2022|2021|
|||||f|f|
||Interest payable
on|bank loans||||
##
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##
||2022|2021|
|---|---|---|
|||F|
|Cost|||
|At beginning
ofyear|165,526|165,526|
|Components|24,632||
|At end ofyear|190,158|165,526|
|Depreciation|||
|At beginning
ofyear|109,454|104,299|
|Charge for year|5,147|5,155|
|At end ofyear|114,601|109,454|
|Net book value|||
|At end ofyear|75,557|56,072|
##
##
|||Charity||||||Charity|
|---|---|---|---|---|---|---|---|---|
|||Multi Asset|M&G Charity|Multi Asset|M8 G Charity|Multi Asset||Multi Asset|
|||Accumulation|Accumulation|||Income||Income|
|||No.||Value||No.||Value|
|||||6|||||
|At 1 January|2022|1,168||122,258|||34,085|31,070|
|Additions|||||||||
|Disposals|||||||||
|Revaluation||||966||||(969)|
|At 31 December 2022||1,168||123,224|||34,085|30,101|
|||C.O.I.F||C.O.I.F.||C.O.I.F||C.O.I.F.|
|||Accumulation|Accumulabon|||Income||Income|
|||No.||Value||No.||Value|
|||||f||||6|
|At 1 January|2022|349||84,582|||3,741|76,970|
|Additions|||||||199|3,651|
|Disposals||(180)||(39,288)|||||
|Revaluation||||(8,174)||||(8,987)|
|At 31 December 2022||169||37,120|||3,940|71,634|
|||Total Listed|
|---|---|---|
|||Investment|
|||Value|
|At 1 January|2022|314,880|
|Additions||3,651|
|Disposals||(39,288)|
|Revaluation||(17,164)|
|At 31 December 2022||262,079|
|The s
being|hares have been valued at 31stDecember 2
as follows:|022, the values used||||
|---|---|---|---|---|---|
|||2022||2021||
|M&G|Income Shares|88.31|p|91.15|p|
|M&G|Accumulation
Shares|10,553.09|p|10,470.35|p|
|COIF|Accumulation
Shares|22,069.90|p|24,252.25|p|
|COIF|Income Shares|1,817.49|p|2,056.64|p|
##
##
|8|DEBTORS|||2022|2021|
|---|---|---|---|---|---|
|||||f|f|
||Arrears|||397|610|
||Less: bad debts provision|||||
|||||397|610|
||Prepayments
&accrued income|||2,047|1,754|
|||||2,444|2,364|
|9|Creditors: Amounts
falling due|||2022|2021|
||within one year|||f|6|
||Licence charge creditor|||1,548|1,476|
||Maintenance
and Service Charges||Creditors|6,160|3,404|
||Audit Creditor|||2,275|1,788|
||Management
fee payable|||2,711|2,632|
||Prepaid
Income|||93|185|
||Deferred
Income net ofamortisation|||4,144|4, 144|
|||||16,931|13,629|
|10|Creditors: Amounts
falling due|||||
||after more than one year|||2022|2021|
||Deferred
Income net of amortisiation|||39,261|43,405|
||Brought forward Social Housing|Grant||138,475|138,475|
||Amortised
to 31 December 2021|||(86,780)|(82,636)|
||Amortised
during year|||(4,144)|(4,144)|
||Carried forward Social Housing|Grant||43,405|47,549|
##
|11|Number of|Units in|Management||||
|---|---|---|---|---|---|---|
||||||2022|2021|
||||||Number|Number|
||At beginning|and end|ofyear||||
||All units are|managed|by Melin Homes|Ltd|||
##
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##
||||2022|2021|
|---|---|---|---|---|
||||F||
|Social|Housing|Grant|158,453|158,453|
##
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##
|||Notes|Notes|2021||2020|
|---|---|---|---|---|---|---|
|INCOME||||8||f|
|Income||||35,594||37,355|
|||||35,594||37,355|
|EXPENDITURE|||||||
|Management|fee|||10,846||10,530|
|Rates||||0||0|
|Day to day repairs||||50,726||11,314|
|Major Repairs||||0||0|
|Cyclical Redecoration||||13,207||0|
|Bad Debts||||0||0|
|Service costs||||5,890||5,124|
|Depreciation||||5,152||5,152|
|Insurance||||1,444||1,278|
|Audit fee||||2,633||1,755|
|Subscriptions||||224||182|
|Miscellaneous||||63||476|
|||||90,185||35,811|
|Operating
surplus||/ (deficit)||(54,591)||1,544|
|Add: Other Income|||||||
|Income from investments|||3,320||2,963||
|Building Society deposit interest|||79||79||
|||||3,399||3,042|
|||||(51,192)||4,586|
|Movement
on|fair value of Financial||Instruments|(17,164)||38,118|
|Surplus
/ (deficit) for the year||||68,356||42,704|
##
##
|1|Income|||2022|2021|
|---|---|---|---|---|---|
||Gross contributions|receivable|from occupants|33,978|33,597|
||Less: Voids|||(2,528)|(386)|
||Grant Amortised|||4,144|4,144|
|||||35,594|37,355|
|2|MISCELLANEOUS|2022|2021|
|---|---|---|---|
||Flowers for Residents|||
||Vouchers||476|
||Postage|||
||TV Licence|63||
||Taxis|||
|||63|476|