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|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|
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|||||||||||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|
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||||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|
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||||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|
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||||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|
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||||||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|
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|||||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|
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|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|
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|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|
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||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|