| ntents | |||
|---|---|---|---|
| Trustees and Advisors. |
|||
| Report of the Trustees. | ................. .......... | ||
| Statement ofthe Responsibilities | ofthe Trustees in Respect ofthe Accounts. .. |
||
| Report ofthe Auditors Statement of comprehensive income for the year ended 31"March 2021.. Statement of changes in reserves for the year ended 31"March 2021. |
.6 ....8 .9 |
||
| Statement of financial |
position | as at 31st March 2021 | 10 |
| Notes ...... | .. 11 |
| 2021 | 2020 | 2019 | 2018 | 2017 | |||||
|---|---|---|---|---|---|---|---|---|---|
| Operating costs |
as | a | percentage | of | |||||
| turnover (Excluding Depreciation) |
Amortisation | and | 64.34% | 50.65% | 74.28% | 58.12% | 42 44% | ||
| Maintenance costs |
per | unit | F1,642 | E1,030 | F1,959 | E1,666 | F918 | ||
| No ofVoids in year | |||||||||
| Routine repairs completed | on time | 89.68% | 95.50% | 98.09% | 95.57% | 88.79% |
| Notes | 2021 | 2020 | |||
|---|---|---|---|---|---|
| Turnover | |||||
| 101,165 | 105,465 | ||||
| Operating Costs |
(65,678) | (51,496) | |||
| Depreciation | (19,866) | (20,544) | |||
| Operating (Deficit)/Surplus |
15,621 | 33,425 | |||
| Loss on disposal of Fixed | Assets | (1,322) | |||
| Interest receivable |
1,090 | 1,068 | |||
| Total Comprehensive | Income for the year | 15,389 | 34,493 | ||
| Transfer from Designated | Reserves | ||||
| Income and Expenditure | Reserve at 1 April 20 | 346,824 | 312,331 | ||
| Income and Expenditure | Reserve at 31March 21 | 362,213 | 346,824 |
| tatement o theear |
f Chang ended |
es in Rese 31March |
rves 2021 |
||||||
|---|---|---|---|---|---|---|---|---|---|
| or y | Charitable | ||||||||
| Investment Revaluation Reserve |
Income a Expo ndaure Account E |
Designated Reserve E |
Other Reserves E |
Fund Property Reserve |
Total Reserves E |
||||
| Balance as at 1"April 2020 |
153,191 | 346,824 | 120,311 | 918 | 99,102 | 720,346 | |||
| Total comprehensive | 15,389 | 15,389 | |||||||
| income/(Defiat) | for | ||||||||
| the year | |||||||||
| Revaluation surplus |
44,588 | 44,588 | |||||||
| arising during |
the | ||||||||
| year | |||||||||
| Balance as at | ~ | 7 | 362 213 | 120311 | 918 | 99 102 | 780 323 |
| Notes | 2021 | 2021 | 2020 | 2020 | |||
|---|---|---|---|---|---|---|---|
| Fixed Assets | |||||||
| Tangible Assets Investments |
6a 7 |
479,562 234,090 |
494,622 189,502 |
||||
| Current Assets | 713,652 | 684,124 | |||||
| Debtors Cash at bank and in |
hand | 10,414 335,782 |
4,925 309,252 |
||||
| Creditors: Amounts |
falling | 346,196 | 314,177 | ||||
| due within one year |
9 | (12,792) | (7,845) | ||||
| Net Current Assets | 333,404 | 306,332 | |||||
| Total Assets | 1,047,056 | 990,456 | |||||
| Creditors: Amounts |
failing | ||||||
| due after more than | one year | 6b | (266,733) | (270,110) | |||
| Total Net Assets | 780,323 | 720,346 | |||||
| Reserves | |||||||
| Investment Revaluation Reserve Income & Expenditure Account Designated Reserve Other Reserves Charitable Fund Property Reserve |
197,779 362,213 120,311 918 99,102 |
153,191 346,824 120,311 918 99,102 |
|||||
| 780,323 | 720,346 |
| useful | economic | lives. | |
|---|---|---|---|
| Land | —Not Depreciated | ||
| Main Fabric | - 100years straight | line | |
| Roof | —40 years straight | line | |
| Electricals | - 30years straight | line | |
| Windows | - 25 years straight | line | |
| External | Doors | —25 years straight | line |
| Bathroom | —20 years straight | line | |
| Kitchen | - 15years straight | line |
| Turnover and Operating Surplus |
Turnover and Operating Surplus |
Turnover and Operating Surplus |
for the | for the | Year | by Class of | Business | ||
|---|---|---|---|---|---|---|---|---|---|
| 2021 | 2020 | ||||||||
| Turnover from lettings |
E | E | |||||||
| Rents and service charges receivable Amortised government grants |
100,264 3,376 |
103,685 3,376 |
|||||||
| 103,640 | 107,061 | ||||||||
| Operating Expenditure |
|||||||||
| Bad debts written | off | ||||||||
| Management Day to day repairs Services (including Depreciation Total Expenditure |
8( maintenance Water Rates) on Social Housing |
Lettings | 15,007 39,396 11,275 19,866 85,544 |
15,069 24,500 11,927 20,544 72,040 |
|||||
| Void Losses | (2.475) | (1.555) | |||||||
| Senior Executives | |||||||||
| The Senior Executives (2020: Enil) |
are defined | as | the Trustees, | who received | no emoluments | during | the year | ||
| Interest receivable | and similar | income | |||||||
| 202i | 2020 | ||||||||
| E | |||||||||
| Investment income |
1,090 | 1,068 | |||||||
| Surplus on Ordinary | Activities | ||||||||
| 2021 | 2020 | ||||||||
| The Surplus on ordinary activities Auditor's remuneration |
is stated | after | charging: | E 939 |
$ 919 |
| Tangible Assets | Housing Properties |
Fixtures and Fittings g |
Total Fixed Assetsf |
|---|---|---|---|
| Cost: At 1st April 2020 Additions Disposals At 31st March 2021 |
776,383 6,129 (9,912) 772,600 |
10,161 10,161 |
786,544 6,129 (9,922) 782,761 |
| Less: Depreciation | |||
| At 1"April 2020 Charge for the year Disposals At 31"March 2021 |
282,576 19,052 (8,590) 293,038 |
9,347 814 19,191 |
291,923 19,866 (8,590) 303,199 |
| Net Book Value: 31"March 2021 1"April 2020 |
E479,562 6 493 807 |
f E 814 |
E479,562 E494,621 |
| Bb. | Social Housing Assistance |
Social Housing Assistance |
—Creditors falling | —Creditors falling | due after inore than one year 202i |
due after inore than one year 202i |
2020 |
|---|---|---|---|---|---|---|---|
| E | |||||||
| Total accumulated | social | housing | grant received | at 31 March 19 | 337,637 | 337,637 | |
| Recognised in the |
statement of |
comprehensive | income | (70,904) | (67,527) | ||
| Held as deferred | income | 266,733 | 270,110 |
3 |
1 March 2021 |
|||||||
|---|---|---|---|---|---|---|---|---|
| NoteS (continued) | ||||||||
| 7. | Fixed Asset Investments | |||||||
| 2021 | 2020 | |||||||
| Valuation at 1"April 2020 Disposals |
E 189,502 |
190,551 | ||||||
| Surplus arising on At 31 March 2021 |
revaluation | 44,588 234,090 |
(1,049) 189,502 |
|||||
| The | investments comprise the following:- |
|||||||
| 2021 | 2020 | |||||||
| E | ||||||||
| 2080.17(2013:2080.17) COIF Income Shares 943.44 (2013:943.44) COIF Accumulation Shares 3'/z% War Stock (nominal 62,319.80) |
37,217 195,044 1,829 |
30,834 156,839 1,829 |
||||||
| 234,090 | 189,502 | |||||||
| The historical cost of | investments | is analysed | as follows:- | |||||
| 2021 | 2020 | |||||||
| E | k | |||||||
| COIF Income Shares COIF Accumulation Shares 3'/~'/0 War Stock |
19,089 14,666 1,750 |
19,089 14,666 1,750 |
||||||
| 35,505 | 35,505 | |||||||
| 8. | Debtors | |||||||
| 2021 | 2020 | |||||||
| Rental debtors Prepayments and accrued |
income | 3,689 6,725 |
3,965 960 |
|||||
| 10,414 | 4,925 | |||||||
| 9. | Creditors: Amounts |
falling | due | within one | year | |||
| 2021 | 2020 | |||||||
| E | E | |||||||
| Prepaid rents Trade creditors and |
accruals | 358 12,434 |
149 7,676 |
|||||
| 12,792 | 7,845 |
| ntents | |||
|---|---|---|---|
| Trustees and Advisors. |
|||
| Report of the Trustees. | ................. .......... | ||
| Statement ofthe Responsibilities | ofthe Trustees in Respect ofthe Accounts. .. |
||
| Report ofthe Auditors Statement of comprehensive income for the year ended 31"March 2021.. Statement of changes in reserves for the year ended 31"March 2021. |
.6 ....8 .9 |
||
| Statement of financial |
position | as at 31st March 2021 | 10 |
| Notes ...... | .. 11 |
| 2021 | 2020 | 2019 | 2018 | 2017 | |||||
|---|---|---|---|---|---|---|---|---|---|
| Operating costs |
as | a | percentage | of | |||||
| turnover (Excluding Depreciation) |
Amortisation | and | 64.34% | 50.65% | 74.28% | 58.12% | 42 44% | ||
| Maintenance costs |
per | unit | F1,642 | E1,030 | F1,959 | E1,666 | F918 | ||
| No ofVoids in year | |||||||||
| Routine repairs completed | on time | 89.68% | 95.50% | 98.09% | 95.57% | 88.79% |
| Notes | 2021 | 2020 | |||
|---|---|---|---|---|---|
| Turnover | |||||
| 101,165 | 105,465 | ||||
| Operating Costs |
(65,678) | (51,496) | |||
| Depreciation | (19,866) | (20,544) | |||
| Operating (Deficit)/Surplus |
15,621 | 33,425 | |||
| Loss on disposal of Fixed | Assets | (1,322) | |||
| Interest receivable |
1,090 | 1,068 | |||
| Total Comprehensive | Income for the year | 15,389 | 34,493 | ||
| Transfer from Designated | Reserves | ||||
| Income and Expenditure | Reserve at 1 April 20 | 346,824 | 312,331 | ||
| Income and Expenditure | Reserve at 31March 21 | 362,213 | 346,824 |
| tatement o theear |
f Chang ended |
es in Rese 31March |
rves 2021 |
||||||
|---|---|---|---|---|---|---|---|---|---|
| or y | Charitable | ||||||||
| Investment Revaluation Reserve |
Income a Expo ndaure Account E |
Designated Reserve E |
Other Reserves E |
Fund Property Reserve |
Total Reserves E |
||||
| Balance as at 1"April 2020 |
153,191 | 346,824 | 120,311 | 918 | 99,102 | 720,346 | |||
| Total comprehensive | 15,389 | 15,389 | |||||||
| income/(Defiat) | for | ||||||||
| the year | |||||||||
| Revaluation surplus |
44,588 | 44,588 | |||||||
| arising during |
the | ||||||||
| year | |||||||||
| Balance as at | ~ | 7 | 362 213 | 120311 | 918 | 99 102 | 780 323 |
| Notes | 2021 | 2021 | 2020 | 2020 | |||
|---|---|---|---|---|---|---|---|
| Fixed Assets | |||||||
| Tangible Assets Investments |
6a 7 |
479,562 234,090 |
494,622 189,502 |
||||
| Current Assets | 713,652 | 684,124 | |||||
| Debtors Cash at bank and in |
hand | 10,414 335,782 |
4,925 309,252 |
||||
| Creditors: Amounts |
falling | 346,196 | 314,177 | ||||
| due within one year |
9 | (12,792) | (7,845) | ||||
| Net Current Assets | 333,404 | 306,332 | |||||
| Total Assets | 1,047,056 | 990,456 | |||||
| Creditors: Amounts |
failing | ||||||
| due after more than | one year | 6b | (266,733) | (270,110) | |||
| Total Net Assets | 780,323 | 720,346 | |||||
| Reserves | |||||||
| Investment Revaluation Reserve Income & Expenditure Account Designated Reserve Other Reserves Charitable Fund Property Reserve |
197,779 362,213 120,311 918 99,102 |
153,191 346,824 120,311 918 99,102 |
|||||
| 780,323 | 720,346 |
| useful | economic | lives. | |
|---|---|---|---|
| Land | —Not Depreciated | ||
| Main Fabric | - 100years straight | line | |
| Roof | —40 years straight | line | |
| Electricals | - 30years straight | line | |
| Windows | - 25 years straight | line | |
| External | Doors | —25 years straight | line |
| Bathroom | —20 years straight | line | |
| Kitchen | - 15years straight | line |
| Turnover and Operating Surplus |
Turnover and Operating Surplus |
Turnover and Operating Surplus |
for the | for the | Year | by Class of | Business | ||
|---|---|---|---|---|---|---|---|---|---|
| 2021 | 2020 | ||||||||
| Turnover from lettings |
E | E | |||||||
| Rents and service charges receivable Amortised government grants |
100,264 3,376 |
103,685 3,376 |
|||||||
| 103,640 | 107,061 | ||||||||
| Operating Expenditure |
|||||||||
| Bad debts written | off | ||||||||
| Management Day to day repairs Services (including Depreciation Total Expenditure |
8( maintenance Water Rates) on Social Housing |
Lettings | 15,007 39,396 11,275 19,866 85,544 |
15,069 24,500 11,927 20,544 72,040 |
|||||
| Void Losses | (2.475) | (1.555) | |||||||
| Senior Executives | |||||||||
| The Senior Executives (2020: Enil) |
are defined | as | the Trustees, | who received | no emoluments | during | the year | ||
| Interest receivable | and similar | income | |||||||
| 202i | 2020 | ||||||||
| E | |||||||||
| Investment income |
1,090 | 1,068 | |||||||
| Surplus on Ordinary | Activities | ||||||||
| 2021 | 2020 | ||||||||
| The Surplus on ordinary activities Auditor's remuneration |
is stated | after | charging: | E 939 |
$ 919 |
| Tangible Assets | Housing Properties |
Fixtures and Fittings g |
Total Fixed Assetsf |
|---|---|---|---|
| Cost: At 1st April 2020 Additions Disposals At 31st March 2021 |
776,383 6,129 (9,912) 772,600 |
10,161 10,161 |
786,544 6,129 (9,922) 782,761 |
| Less: Depreciation | |||
| At 1"April 2020 Charge for the year Disposals At 31"March 2021 |
282,576 19,052 (8,590) 293,038 |
9,347 814 19,191 |
291,923 19,866 (8,590) 303,199 |
| Net Book Value: 31"March 2021 1"April 2020 |
E479,562 6 493 807 |
f E 814 |
E479,562 E494,621 |
| Bb. | Social Housing Assistance |
Social Housing Assistance |
—Creditors falling | —Creditors falling | due after inore than one year 202i |
due after inore than one year 202i |
2020 |
|---|---|---|---|---|---|---|---|
| E | |||||||
| Total accumulated | social | housing | grant received | at 31 March 19 | 337,637 | 337,637 | |
| Recognised in the |
statement of |
comprehensive | income | (70,904) | (67,527) | ||
| Held as deferred | income | 266,733 | 270,110 |
3 |
1 March 2021 |
|||||||
|---|---|---|---|---|---|---|---|---|
| NoteS (continued) | ||||||||
| 7. | Fixed Asset Investments | |||||||
| 2021 | 2020 | |||||||
| Valuation at 1"April 2020 Disposals |
E 189,502 |
190,551 | ||||||
| Surplus arising on At 31 March 2021 |
revaluation | 44,588 234,090 |
(1,049) 189,502 |
|||||
| The | investments comprise the following:- |
|||||||
| 2021 | 2020 | |||||||
| E | ||||||||
| 2080.17(2013:2080.17) COIF Income Shares 943.44 (2013:943.44) COIF Accumulation Shares 3'/z% War Stock (nominal 62,319.80) |
37,217 195,044 1,829 |
30,834 156,839 1,829 |
||||||
| 234,090 | 189,502 | |||||||
| The historical cost of | investments | is analysed | as follows:- | |||||
| 2021 | 2020 | |||||||
| E | k | |||||||
| COIF Income Shares COIF Accumulation Shares 3'/~'/0 War Stock |
19,089 14,666 1,750 |
19,089 14,666 1,750 |
||||||
| 35,505 | 35,505 | |||||||
| 8. | Debtors | |||||||
| 2021 | 2020 | |||||||
| Rental debtors Prepayments and accrued |
income | 3,689 6,725 |
3,965 960 |
|||||
| 10,414 | 4,925 | |||||||
| 9. | Creditors: Amounts |
falling | due | within one | year | |||
| 2021 | 2020 | |||||||
| E | E | |||||||
| Prepaid rents Trade creditors and |
accruals | 358 12,434 |
149 7,676 |
|||||
| 12,792 | 7,845 |