| IN D EX |
PAGE |
| TRUSTEES REPORT | 1-3 |
| INDEPENDENT EXAMINER'S REPORT |
|
| STATEMENT OF COMPREHENSIVE INCOME |
|
| STATEMENT OF CHANGES IN FUNDS |
|
| STATEMENT OF FINANCIAL POSITION |
|
| STATEMENT OF CASH FLOWS | |
| NOTES TO THE FINANCIAL STATEMENTS | 9 —12 |
| DETAILED INCOME AND EXPENDITURE ACCOUNT | 13 |
| 2022 | 2021 | NHF* | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Reinvestment | 0/ | |||||||||||
| New su | I | social | housin | units | ||||||||
| New su | I | Non-social | housin | units | ||||||||
| Gearin | 479 | 498 | ||||||||||
| EBITDA MRI | interest | cover | 182 | |||||||||
| Headhne | social housin | cost | 6 | er unit | 2,533 | 2,619 | 64230 | |||||
| Operating | margin | (social | housing | 36 | 30 | 22 | ||||||
| lettin | ||||||||||||
| 0 eratin | mar in |
overall | 36 | 30 | 20 | |||||||
| Return on ca | ital em | lo | ed | 2.8 |
| Note | Year ended | Year ended | |||
|---|---|---|---|---|---|
| 31 December 2022 | 31 December 2021 | ||||
| Turnover | 47,468 | 44,988 | |||
| Operating | expenditure | (30,390) | (31,432) | ||
| Operating | surplus/(deficit) | 17,078 | 13,556 | ||
| Interest receivable | 3,033 | 2,623 | |||
| Movement | in fair value offinancial | instruments | (23,416) | 30,169 | |
| Total comprehensive income/(expenditure) |
for the year | (3,305) | 46,348 | ||
| Balance at | 1 January 2022 | 277,330 | 230,982 | ||
| Balance at | 31 December 2022 | 274,025 | 277,330 |
| Balance at | Gains on | Balance at | ||||||
|---|---|---|---|---|---|---|---|---|
| January 2022 | Income | Expenditure | Investments | Transfers | December 2022 | |||
| 6 | E | 8 | ||||||
| Income and expenditure | reserve | 43,253 | 48,761 | 30,390 | (1,789) | (15,000) | 44,535 | |
| Designated | ||||||||
| Cyclical maintenance | fund | 62,887 | 1,740 | (4,653) | 15,000 | 74,974 | ||
| Extraordinary | repair fund | 171,190 | (16,974) | 154,216 | ||||
| 277,330 | 50,501 | 30,390 | (23,416) | 274,025 |
| 2022 | 2021 | ||
|---|---|---|---|
| 6 | f | ||
| Cost offixed investments Investment revaluation |
26,000 6,800 |
26,090 11,453 |
|
| 32,800 | 37,453 | ||
| Short term | investments | 42,174 | 25,434 |
| Total | 74,974 | 62,887 |
| The extraor | dinary repair fund is a reserve for exception |
al maintenance projects. It is represented by |
: |
|---|---|---|---|
| 2022 | 2021 | ||
| 6 | f | ||
| Cost ofinvestments Investment revaluation |
69,904 84,312 |
69,994 101,286 |
|
| Total | 154,216 | 171,190 |
| Note | Year ended | Year ended | |||
|---|---|---|---|---|---|
| 31 December 2022 | 31 December 2021 | ||||
| Fixed assets | |||||
| Tangible fixed assets |
6,540 | 6,540 | |||
| Investments | 199,633 | 223,049 | |||
| 206,173 | 229,589 | ||||
| Current assets | |||||
| Debtors | 3,485 | 3,253 | |||
| Investments | 42,174 | 25,434 | |||
| Cash and cash equivalents | 31,343 | 32,591 | |||
| Total current assets | 77,002 | 61,278 | |||
| Less: Creditors: amounts | falling due within one year | 9 | (9,150) | (13,537) | |
| Net current assets | 67,852 | 47,741 | |||
| Total net assets | 274,025 | 277,330 | |||
| Reserves | |||||
| Income and expenditure | reserve | 44,835 | 43,253 | ||
| Designated reserves |
|||||
| Extraordinary repair fund |
154,216 | 171,190 | |||
| Cyclical maintenance | fund | 74,974 | 62,887 | ||
| 274,025 | 277,330 |
| Note | Year ended | Year ended | |||||
|---|---|---|---|---|---|---|---|
| 31 December 2022 | 31 December 2021 | ||||||
| Net cash generated from operating |
activities | 1 | 15,492 | 27,979 | |||
| Cash flow from | investing | activities | |||||
| Interest received | (1,740) | (1,398) | |||||
| 13,752 | 26,581 | ||||||
| Transfer from/(to) | investments | (15,000) | (7,000) | ||||
| Net change (out)/in cash and cash | equivalents | (1,248) | 19,581 | ||||
| Cash and cash | equivalents | at beginning | ofthe | year | 32,591 | 13,010 | |
| Cash and cash | equivalents | at end | ofthe | year | 31,343 | 32,591 |
| Year ended | Year endeil | ||||
|---|---|---|---|---|---|
| 31 December 2022 | 31 December 2021 | ||||
| Operating | (deficit)/surplus | for the year | 17,078 | 13,556 | |
| Adjustments | for non-cash | items: | |||
| (Increase) | decrease | in debtors | (232) | 256 | |
| Increase (decrease) | in creditors | (4,387) | 11,544 | ||
| Interest received | 3,033 | 2,623 | |||
| 15,492 | 27,979 |
| TANGI | LE | Freehold |
|---|---|---|
| Property | ||
| Cost: | ||
| At 1 January 2022 and 31 Less: Housing Association |
December 2022 grants |
133,578 (127,038) |
| Adjusted net cost |
6,540 |
| FIXEDASSETS —INVESTMENTS | FIXEDASSETS —INVESTMENTS | 2022 | 2021 |
|---|---|---|---|
| E | |||
| At 1 January | 2022 | 223,049 | 192,8llo |
| Gain/(loss) in |
the year | (23,416) | 30,169 |
| At 31 December 2022 | 199,633 | 223,049 | |
| Investments | at market value comprised: | ||
| UK equities | 199,633 | 223,049 | |
| Historical cost as at 31 December 2022 | 105,904 | 105,9()4 | |
| DEBTORS | 2022 | 2021 | |
| 5 | |||
| Rent receivable Other debtors |
2,000 30 |
1,817 &5 |
|
| Prepayments | 1,455 | 1,391 | |
| 3,485 | 3,253 |
| CREDITORS | 2022f | 21121 |
|---|---|---|
| Trade creditors Other creditors Accruals Deferred income |
7,279 62 1,455 354 |
9,600 2,230 1,360 347 |
| 9,150 | 13,537 |
| 31 | December 2022 | 2021 | ||
|---|---|---|---|---|
| F | ||||
| INCOME | ||||
| Investment income |
||||
| 1984COIF income shares COIF deposit account interest |
2,672 325 |
2,620 3 |
||
| CAFCASH current account interest | 36 | |||
| Donations | 3 | |||
| Contributions from residents |
47,468 | 44,985 | ||
| TOTAL INCOME | 50,501 | 47,611 | ||
| EXPENDITURE | ||||
| Administration: | ||||
| Clerk's salary and expenses Accountancy fees Subscriptions |
3,135 1,535 655 |
2,710 1,420 626 |
||
| Insurance Sundries |
1,523 77 |
1,450 232 |
||
| Bank charges | 81 | 100 | ||
| Advertising | 280 | |||
| Legal 8 professional fees |
300 | |||
| Services: | 7,306 | 6,818 | ||
| Light and water | 3,089 | 3,183 | ||
| Gardening Council tax |
1,500 920 |
2,390 | ||
| Almshouse repairs and improvements |
5,509 | 5,573 | ||
| Repairs and improvements | 17,575 | 19,041 | ||
| TOTAL EXPENDITURE | 30,390 | 31,432 | ||
| SURPLUS FOR THE YEAR | 20,111 | 16,179 |