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2022-03-31-accounts

ntents ntents
Trustees
and Advisors.		 ...2
Report of the Trustees . 3
Statement ofthe Responsibilities ofthe Trustees
in Respect ofthe Accounts.		 5
Report of
Statement
Statement		 the Auditors
of comprehensive
income for the year ended 31'"March 2022 .. .
of changes
in reserves for the year ended 31"March 2022 .		 .6
...........8
9
Statement of financial position as at 31st March 2022 10
Notes ...................... ....... 11 — 18

2022 2021 2020 2019 2018
Operating
costs		 as a percentage of
turnover
(Excluding		 Amortisation and 53.00% 64 34% 50.65% 74.28% 58.12%
Depreciation)
Maintenance
costs		 per unit E1,196 E1,642 F1,030 E1,959 F1,666
No ofVoids in year
Routine repairs completed on time 95.97% 89.68% 95.50% 9809% 95.57%

Notes 2022 2021
Turnover 102,574 101,165
Operating
Costs		 (54,365) (65,678)
Depreciation (17,656) (19,866)
Operating
(Deficit)/Surplus		 30,553 15,621
Loss on disposal of Fixed Assets (1,322) (1,322)
Interest
receivable		 1,111 1,090
Total Comprehensive Income for the year 30,342 15,389
Transfer from Designated Reserves
Income and Expenditure Reserve at 1 April 21 362,213 346,824
Income and Expenditure Reserve at 31March 22 392,555 362,213

or the
year e
nded
31 March 2022
Charitable
Investment Income a Fund
Revaluation Expenditure Designated Other Property Total
Reserve Account Reserve Reserves Reserve Reserves
E E E E E E
Balance
1"April		 as at
2021		 197,779 362,213 120,311 918 99,102 780,323
Total comprehensive 30,342 30,342
income/(Deficit) for
the year
Revaluation
surplus		 25,988 25,988
arising during the
year
Balance
3 "		 as at
I 20»		 223 76 392 55 » 3 918 99.102 636 653
Trustees'a nnual
repo		 rt and acco
31 March
Statement of Financial Position
as at31"March 2022
Notes 2022 2022 2021 2022
Fixed Assets
Tangible Assets 6a 482,314 479,562
Investments 7 260,277 234,090
Current Assets 742,391 713,652
Debtors 4,962 10,414
Cash at bank and in hand 360,466 335,782
Creditors:
Amounts		 falling 365,428 346,196
due within
one year		 (7,809) (12,792)
Net Current Assets 357,619 333,404
Total Assets 1,100,010 1,047,056
Creditors:
Amounts		 falling
due after more than one year 6b (263,357) (266,733)
Total Net Assets 836,653 780,323
Reserves
Investment
Revaluation
Reserve
Income a Expenditure
Account		 223,767
392,555		 197,779
362,213
Designated
Reserve
Other Reserves		 120,311
918		 120,311
918
Charitable
Fund Property		 Reserve 99,102 99,102
836,653 780,323

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		 Turnover
and Operating		 Surplus for the Year by Class of Business Surplus for the Year by Class of Business Surplus for the Year by Class of Business Surplus for the Year by Class of Business Surplus for the Year by Class of Business Surplus for the Year by Class of Business
2022 2021
k E
Turnover
from lettings
Rents and service charges receivable 100,802 100,264
Amortised
government		 grants 3,376 3,376
104,178 103,640
Operating
Expenditure
Bad debts written off
Management 15,574 15,007
Day to day repairs lt maintenance 28,700 39,396
Services (including Water Rates) 10,093 11,275
Depreciation 17,656 19,866
Total Expenditure on Social Housing Lettings 72,023 85,544
Void Losses (1,604) (2,475)
Senior Executives
The Senior Executives are
(2022: Enil)		 defined as the Trustees, who received no emoluments during the year
Interest receivable and similar income
2022 2021
E E
Investment
income		 1,090
Surplus on Ordinary Activities
2022 2021
E E
The Surplus
on ordinary		 activities is stated after charging:
Auditor's
remuneration		 933 939
Truste es' annual
 report and acc
31 March
6a. Tangible Assets
Housing Fixtures Total
Properties and Fixed
Fittings Assets
Cost:
At 1st April 2021 772,602 10,161 782,763
Additions 21,727 21,727
Disposals (15,320) (15,320)
At 31st March 2022 779,009 10,161 789,170
Less: Depreciation
At 1"April 2021 293,038 10,161 303,199
Charge for the year 17,655 17,655
Disposals (13,998) (13,998)
At 31"March 2022 296,695 10,161 306,856
Net BookValue:
31"March 2022 T 482,314 f 6482,314
1"April 2021 F 479,562 8 — E479,562
6b. Social Housing Assistance Social Housing Assistance —Creditors falling —Creditors falling due after more than one year
2022 2021
E
Total accumulated social housing grant received at 31 March 22 337,637 337,637
Recognised
in the		 statement of comprehensive income (74,280) (70,904)
Held as deferred income 263,357 266,733

No tes (continued) tes (continued) tes (continued)
7. Fixed Asset Investments
2022 202I
E
Valuation
at 1"April		 2021 234,090 189,502
Disposals
Surplus
arising
on revaluation		 25,987 44,588
At 31 March 2022 260,077 234,090
The investments
comprise the		 following:-
2022 202I
E
2080.17(2013:2080.17) COIF Income Shares 40,443 37,217
943.44 (2013:943.44) COIF Accumulation Shares 217,804 195,044
3'/~% War Stock (nominal f2,319.80) 1,829 1,829
260,076 234,090
The historical
cost of		 investments is analysed as follows:-
2022 202I
E
COIF Income Shares 19,089 19,089
COIF Accumulation Shares 14,666 14,666
3'/z% War Stock 1,750 1,750
35,505 35,505
8. Debtors
2022 202If
Rental debtors 3,691 3,689
Prepayments
and accrued		 income 1,271 6,725
4,962 10,414
9. Creditors:
Amounts		 falling due within one year
2022 202I
Prepaid
rents		 374 358
Trade creditors and accruals 7,435 12,434
7,809 12,792