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|||Eaaaee|
|---|---|---|
|General
Information|||
|Report ofthe Board of|Management|2-8|
|Independent
Auditor's|Report|9 - 12|
|Statement of Comprehensive
Income||13|
|Statement of Financial|Position||
|Statement ofChanges|in Equity and Reserves|15|
|Cash Flow Statement||16-17|
|Notes to the Financial|Statements|18 - 29|
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|Registered|officer||106BWood Street|106BWood Street||||
|---|---|---|---|---|---|---|---|
||||garnet|||||
||||Hertfordshire|||||
||||EN5 4BY|||||
||||Eleanor Palmer|Trustee||Ltd||
|Board of Management:|||A Alderman||||(Chairman)|
||||A Cornelius||||(Vice Chair)|
||||A Grlmwade|||||
||||D Langstaff|||||
||||W Prentice|||||
||||H Davis|||||
||||LTempleton|||||
||||Rev. T Chapman|||||
||||ITillisch|||||
||||A Parker|||||
|Chief Executive:|||G Oliver|||||
|Solicitors:|||Bircham Dyson|Bell||||
||||50 Broadway|||||
||||Landon|||||
||||SW1H OBL|||||
|Bankers.|||National
Westminster||Bank PLC|||
||||Barnet|||||
||||Herlfordshire|||||
||||EN5 5FF|||||
|Investment|Advisers||Charles Stanley|lk Co.|Limited|||
||||25 Luke Street|||||
||||Landon|||||
||||EC2A 4AR|||||
|Auditor:|||Kreston Reeves|LLP||||
||||Statutory
Auditor BChartered||||Accountants|
||||Montague
Place|||||
||||Quayside|||||
||||Chatham
Maritime|||||
||||Chatham|||||
||||Kent|||||
||||ME4 4QU|||||
|Charity Commission|||The Trust Is registered|||with The Charity Commission||
||||Number:
220857|||||
|Regulator ofSocial Housing|||The Trust is a regtstered|||provider||
||||Number:
A1168|||||
|Care Quality Commission||(CQC)|The Trust is a registered|||provider||
||||Number:
1-101610460|||||
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|4)|0 tlml
n
ctiven|||||||
|---|---|---|---|---|---|---|---|
|The|covid-tg Pandemic measures
implemented:-|||||||
||Supply of high grade full Personal
Protecuve
Equipment
(PPE) was purchased
for our staff and||residents.|||||
||An Isolation
plan for both our Sheltered
Housing
and Care Home Residents|was put in place for when||it was||required.||
||Staff training
and information
regularly
provided.|||||||
||Risk assessment
was carried out on staff, residents
and visitors.|||||||
||All front-line
staff were committed
and agreed to continue
with their regular|hours of work to support||the|residents.|||
||Ail staff continue to be supported
and monitored
to ensure they are fit for work both physically||and mentally.|||||
||Information
notices have been put up where required,
as advised
by Public|Health
England.||||||
||Laptops setup with remote
login was provided to Head ofFice and other admin. staff members
that would||||need||to work|
||from home for medical reasons,
childcare etc.|||||||
||Key Worker information
is being kept up to date to assist staff with childcare, transport
and testing.|||||||
||All relevant staff are included
in LBBCovid update webinars
and emails.|||||||
||Additional
hospital
beds were purchased
and the Care Home Meeting
room|cleared to enable it|to be|converted|||into a|
||quarantine
room
in preparation,
if required.|||||||
||Tablet devices purchased
for Sheltered
Housing
and Care Home residents to contact their loved||ones|and|Join in with|||
||activities
online through
Zoom and Skype.|||||||
||Weekly newsletters
started
which
included
up to date information,
quizzes/puzzles
and contact||details|for|food and essential|||
||item deliveries.|||||||
||Sheltered
Housing
Residents
and families ofthe Care Home Residents were|kept informed
of what measures||||we were||
||taking
in relation to the Coronavirus.|||||||
||The Risk Register, which had been kept up to date with Brexit and Cyber-attacks,
was updated||with Covid-19.|||||
||Regular written
and email updates
were sent to the Sheltered
Housing
Residents and to the families ofthe Care Home|||||||
||Residents,
informing
them ofthe measures
we are taking
in relation to the|Coronavirus.||||||
||Covid tests were organised
for staff and were available
for the residents.|||||||
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||||||Notes|2021|2020|
|---|---|---|---|---|---|---|---|
|||||||5||
|Turnover|||||2A|2,399,993|2,55/,607|
|Operating
costs|||||2A|(2,055,606)|(1,990517)|
|Operating
surplus||||||344,367|552,090|
|Gain/(loss)
on sale|of.investments|||||11,779|g„920)|
|Increase/(decrease)||on value of|investments|||569,695|f401,150)|
|Increase
in valuation||of investment||property||||
|Interest receivable|and dividend||income|||75,240|102,795|
|Interest
payable|||||||(9,549)|
|Total comprehensive||Income for|the|year||991,640|40,256|
##
##
||||Notes||2021||2020|
|---|---|---|---|---|---|---|---|
||||||6||5|
|Tangible fixed assets||||||||
|Freehold
housing
properties|||9|6,243,938||6,'368 419||
|Other fixed assets|||10|100,996||122699||
|Investment
Property|||11|615,000||615000||
|Investments|||12|3,138,415||2,574,002||
||||||10,098,349||9,680120|
|Current assets||||||||
|Debtors and prepayments|||13|445,612||77,792||
|Cash at bank and
in|hand|||1,028I220||841,011||
|||||1,473,832||918803||
|Current liabilities||||||||
|Creditors - amounts|falling due within one year||14|(212,675)||6169,6163||
|Net current assets|||||1,261,1.57||749187|
||||||11,359,506||10,429307|
|Creditors - amounts||falling due after more||||||
|than one year|||15||(4r102r584)||(4r164,025)|
|Total net assets|||||7,256,922||6,265282|
|Capital and reserves||||||||
|Endowment
Fund|||18||2,141,647||1,755330|
|Accumulated
income|reserve||19||4,925,275||4,319952|
|Revaluation
reserve|||20||190,000||190000|
|Total reserves|||||7,256,922|||
##
||Endowment|Accumulated|Revaluation||
|---|---|---|---|---|
||Fund|Income|Fund|Total|
||E|E||6|
|At 1April 2019|2,081,665|3,953,381|190,000|6,225,046|
|Surplus for the year|(326,335)|366,571||40,236|
|Transfers
between
reserves|||||
|At 31March 2020|1,755,330|4r319r952|190,000|6,265,282|
|Surplus for the year|386,317|605,323||991,640|
|Transfers
between
reserves|||||
|At 31March 2021|2,141,647|4,925,275|190,000|7,256,922|
##
##
||||2021|2020|
|---|---|---|---|---|
||||f.||
|Net cash generated
from operating|activities (see note 1below)||115,916|459692|
|Cashflow from investing
activities|||||
|Payments to acquire tangible
fixed assets|||(10,627)|(120072)|
|Purchase of investments|||(119,933)|(125722)|
|Interest
and dividends
received|||75,240|102,795|
|Proceeds from sale of investments|||136,994|136009|
|Net cash flow from investing
activities|||81,674|(6,'990)|
|Cash flow from financing
activities|||||
|Repayment
of long term loans|||(920)|(832)|
|Interest payable|||(9,461)|(9,549)|
|Net cash flow from financing
activities|||(10,381)|(10,381)|
|Net increase in cash and cash equivalents|||187,209|442,321|
|Cash and cash equivalents
at 1April|2020||841,011|398690|
|Cash and cash equivalents
at31March||2021|1~028I220|641,011|
|Note 1|||2021|2020|
||||6||
|Cash flow from operating
activities|||||
|Net income for the year|||991,640|40,236|
|Adjustments
for non-cash items|||||
|Depreciation
charges|||156,811|155628|
|Profit/loss
on disposal offixed assets|||||
|(Gain)/deficit
on sale of investments|||(11,779)|2,920|
|(Gain)/deficit
on value of investments|||(569,695)|418546|
|Change
in value of investment
properties|||||
|(Increase)/decrease
in debtors|||(367I820)|(25,025)|
|(Decrease)/increase
in creditors|||42,963|21,058|
|Utilisation
of government
grant|||(60,425)|(o0,425)|
|Adjustments
for investing
or financing||activities|||
|Interest income
in investing
activities|||(75,240)|(102,795)|
|Interest
paid
in financing
activities|||9,461|9549|
|Net cash generated
from operating|activities||115,916||
##
##
|||||Other non-||
|---|---|---|---|---|---|
|||||cash||
|||2020|Cashflows|changes|2021|
|||6|6||6|
|Long-term
Short-term|borrowings
borrowlngs|(91,660)
(921)|920||(90,740)
(921)|
|Total liabilities||(92,681)|||(91,661)|
|Cash lk cash equivalents||841,011|187,209||1,028,220|
|Total net|cash|729400|188,129||936,559|
##
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##
||Fixtures,|fittings|and equipment|and equipment|2%to 20%|
|---|---|---|---|---|---|
||Motor Vehicles||||25%a|
||Housing|properties||structure|1%|
||Roofs||||2%|
||Boilers||||20%|
||Kitchens||||10%|
||Bathrooms||||10%|
||Windows||||10%|
||Electrics||||10%|
|Freehold|land
is not|depreciated.||||
##
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||||||||||||||||I0|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||||||||I0|
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||0Z|5||||||||||||||
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##
##
||||||||Residential|Residential|Almshouses|||
|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||Home|2021|2021|Total
2021|2026|
||||||||||||6|
|28.|TURNOVER FROM LETTINGB|||||||||||
||Maintenance
contributions|and charges||||for||||||
||suppo* services||||||1,390,549||774,560|2,165,100|2,664577|
||Less: Voids||||||||(24,532)|(24,532)|(17,684)|
||Less: Unoccupied
rooms|||||||(51,503)||(51,503)|(13952)|
||Amartisation
ofgrant||||||||60,425|60,425|66,425|
||Turnover
from soaal housing||lettings||and|||||||
||other related rents||||||1,339,046||810,453|2,149,499|2,093,96'6|
||Management|||||||65,548|49,161|114,709|111,659|
||Routine maintenance|||||||1,394|57,083|58,477|51,900|
||Cyclical maintenance|||||||8,230|62,643|70,873|127227|
||Depreciation af housing|properties||||||37,135|88,773|125,908|121,726|
||Services||||||1,201,946||163,573|1,365,519|0296957|
||Support services||||||||141,150|141,150|124795|
||Operating
costs on social housing|||lettings|||1,314,253||562,383|1,876,636|1,834,264|
||Operating
surplus
an social housing||||lettlngs|||24,793|2'18,070|272g863|Z59,76Z|
||Social Houslngr|||||||||||
||Almshouses|||||||||78|78|
||Residential
home||||||||||33|
||Other lettings|||||||||||
||Assured
shorthold
tenancies|||||||||||
||Shop|||||||||||
|||||||||||115|115|
|3,|BOARD AND KEY MANAGEMENT||||PERSONNEL REMUNERATION|||||||
||The emoluments
or the chief||Executive,|||who is also the only member|||of key management|personnel,
included|above was:|
|||||||||||2021|2626|
|||||||||||E|E|
||Chief executive|||||||||S8,576|55,637|
##
##
||INTEREST RECEIVABLE||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
||||||||||2021|2020|
|||||||||||6|
||Dividends
receivable
from|listed|investments||||||74,8S9|101,338|
||Other interest receivable||||||||381|8452|
||||||||||75,240||
|ib|INTEREST AND FINANCING||COSTS||||||||
||On loans wholly or partially|repayable|||in more than||five|years|9,461||
||EMPLOYEES||||||||||
||Staff costs during the period:||||||||||
||Salaries and wages||||||||865,817|248045|
||Social security costs||||||||67,5OO|51,846|
||Other pension costs||||||||34,555|22,580|
||||||||||967,872|825521|
||The average
monthly
number ofemployees,|||||including||members|||
||ofthe executive team, during the year was as follows:||||||||No.|No.|
||Employees||||||||35||
||The average
number ofemployees,||||including|membem||ofthe|||
||executive team, calculated|on a|full|time equivalent|||basis was as||||
||follows.||||||||33|30|
||No employee
received
more than E60,000 in|||||2021|or 2020.||||
||AUDITOR'5 REMUNERATION||||||||||
||Auditor's
remuneration
- external|||audit|||||7,000|2,000|
|8.|GRANTS||||||||||
||Amenities
for and grants to residents||||||||||
||Grants for relief in need||||||||52r924|42,130|
||Lunch
Club for residents||||||||325|1,240|
||||||||||53,249|43320|
##
##
##
||||Freehold Pro erties|Freehold Pro erties|Freehold Pro erties|
|---|---|---|---|---|---|
||||Id fnr|Social Housin|Lettin|
||||Housing|Housing||
||||Properties|Components|Total|
|Cost||||||
|At beginning
ofthe year|||6,749,445|1,402,799|8,152,244|
|Additions||||3,812|3,812|
|Disposals||||||
|At end of|the year||6749445|Ir406t&11|8t15&t056|
|Depreciation||||||
|At beginning
ofthe year|||1,024,610|759,215|1,783,825|
|Charge for|the year||32,458|95,835|128,293|
|Disposals||||||
|At end of|the year||1,057,068|855t050|It912t118|
|Net book|value|||||
|At 31March 2021|||5t692 377|551r561|6r243t938|
|At31MarCA 2020|||5224 B35'|6435B4|6,366419|
|AI housing|properties|are freehold.||||
|TANGIBLE FIXEDASSETS.OTHER||||||
||||Fixtures,|Of&ca||
||||Fittings and|Equipment||
||||Equipment|and Vehicles|Total|
|Cost||||||
|At beginning
ofthe year|||315,600|29,566|345,166|
|Additions|||6,815||6,815|
|Disposals||||||
|At end of|the year||322,415|29r566|351tg&i|
|Depreciation||||||
|At beginmng
ofthe year|||193,213|29,254|222,467|
|Charge for|the year||28,383|135|2&,51&|
|Disposals||||||
|At end of|the year||221t596|29t389|250t9&S|
|Net book|value|||||
|At 31March 2021|||100,819|177|100,996|
|At22 Mttth 2020|||1223B2|312|122699|
##
##
|11.|INVESTMENT PROPERTY|INVESTMENT PROPERTY||||
|---|---|---|---|---|---|
|||||2021|Z0Z0|
|||||f||
||At the start|ofthe year||615,000|615000|
||Gain/(loss)|from adjustment|in value|||
|||||615,000|615000|
##
##
##
|NOT|ES TO THE F|I|NAN|CIA|L
STA|TEMENTS FORTHE YEAR|ENDED Sl MARCH 202|1|
|---|---|---|---|---|---|---|---|---|
||||||||2021|2020|
|||||||||E|
|13.|DEBTORS||||||||
||Arrears of maintenance|||contnbutions||and fees receivable|15,975|21,299|
||Other debtors|and prepayments|||||429,637|56,'493|
||||||||445,612|22,292|
|16|CREDITORS|-|Amounts||falling due within one year||||
||Trade creditors||||||101I495|58r365|
||Housing
loan||||||1,017|921|
||Tax and social|security|||||15,459|14062|
||Deferred
Capital||Grant||||60,425|60,425|
||Other creditors||and accruals||||34,279|35,843|
||||||||212,675|169616|
|15.|CREDITORS|-|Amounts||falling due after more than one year||||
||Deferred
Capital||Grant||||4,011,940|4022365|
||Loan repayable||alter|more|than one|year (secured)|90,644|91,660|
|||||||||4164,025|
|16.|HOUSING
LOANS||||||||
||The loan is repayable|||by instalments||as follows:|||
||in one year or|less|||||1,017|921|
||Between one and two|||years|||2,365|2140|
||Between two and tive|||years|||6,465|2659|
||in tive or more||||||79I913|81,861|
||||||||91,660|92,581|
##
##
||||2021|ZOZO|
|---|---|---|---|---|
||||E||
||ENDOWMENT
PUNO||||
||At I Apnl 2020||1,755,330|2081,665|
||Investment
managers|fees|(12,062)|f13,001)|
||Change
in value of investments||391,518|(312,026)|
||Gain/(loss)
on sale of|investments|6,861|(1,308)|
||At 31March 2021||2,141,647|1,255330|
|19.|ACCUMULATEO
INCOME ltESERVE||||
||At 1 April 2020||4,319,952|3,953381|
||Investment
managers|fees|(5,000)|(5202)|
||Change
in value of investments||178,177|(106;520)|
||Gain/(loss)
on sale of|investments|4,918|(1,612)|
||Surplus/(defiat)
for the year||427,228|si29,905|
||At 31 March 2021||4,925,275|4319952|
|20.|REVALUATION
RESERVE||||
||At 1 April 2020||190,0DO|190,000|
||Movement
during the|year|||
||At 31 March 2021||190,0DO|190,000|
##
##
##
|||||||||2021|2020|
|---|---|---|---|---|---|---|---|---|---|
||||||||||6|
||Other operating|leases||expiring||in||||
||Less than 1year|||||||6,926|6926|
||2 —5 years|||||||27,706|27,706|
||More than 5years|||||||6,349|13276|
|||||||||40,981|47,906|
|22.|GRANT AND|FINANCIAL ASSISTANCE||||||2021|2020|
|||||||||I||
||At the start ofthe year|||||||4,132,290|4193215|
||Grant received|in the year||||||||
||Released to income||in|the year||||(60,425)|(60425)|
||At the year end|||||||4,072,365|4j1321790|
||Amount
due to|be|released||c 1|year||60I425|60,425|
||Amount
due to|be|released||& 1|year||4,011,940|4,072,365|
||The total accumuiated|||government|||grant and financial|||
||assistance
received||or|due|at 31 March:|||6r042r458|6,042,456|
##
##
||||2021|2020|
|---|---|---|---|---|
||||E|5|
|24.|FINANCIAL INSTRUMENTS||||
||Financis Iassets||||
||Financial assets measured atfair value||||
||investments||3,138,415|2,524002|
||Financial assets measured at amortised cost||||
||Maintenance
debtors||15,975|21,299|
||Other debtors||18,239|18239|
||Cash and cash equivalents||1,028,220|841,011|
||Total financial assets||4,200,849|3454551|
||Financial liabilities||||
||Financial liabilities measured at amortlsed|cost|||
||Trade creditors||101,495|58385|
||Deferred capital grant||4r072~365|4,132,290|
||Housing
loans payable||91,660|92,581|
||Accruals and other creditors||34,279|35843|
||Total financial
llabilites||4,299,799|4319529|