# ## ## ## |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| ## ## ## ## ##