**REGISTERED CHARITY NUMBER: 221523** ## **REPORT OF THE TRUSTEES AND** **UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021** ## **FOR** ## **LEE'S REST HOUSES** Sowerby Chartered Accountants Beckside Court Annie Reed Road Beverley East Yorkshire HU17 0LF **LEE'S REST HOUSES** **CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 30 September 2021** **----- Start of picture text -----**
Page
Reference and Administrative Details 1
Report of the Trustees 2 to 4
Independent Examiner's Report 5
Statement of Financial Activities 6
Balance Sheet 7
Cash Flow Statement 8
Notes to the Cash Flow Statement 9
Notes to the Financial Statements 10 to 20
Detailed Statement of Financial Activities 21 to 22
**----- End of picture text -----**
**LEE'S REST HOUSES** **REFERENCE AND ADMINISTRATIVE DETAILS for the Year Ended 30 September 2021** **----- Start of picture text -----**
TRUSTEES Adrian Mark Horsley
Mrs Patricia Anne Booth
Kevin Simon Webster
James Needler
Nicholas Luffingham
Mr Anthony Nicholson
Neil Riseham
Mrs Karen Woods
PRINCIPAL ADDRESS Anlaby Road
Hull
East Yorkshire
HU4 6XA
REGISTERED CHARITY NUMBER 221523
INDEPENDENT EXAMINER Sowerby
Chartered Accountants
Beckside Court
Annie Reed Road
Beverley
East Yorkshire
HU17 0LF
BANKERS HSBC
3-4 Jameson Street
Hull
HU1 3JX
INVESTMENT MANAGERS JM FINN
4 Coleman Street
London
EC2R 5TA
**----- End of picture text -----**
-1- **LEE'S REST HOUSES** **REPORT OF THE TRUSTEES for the Year Ended 30 September 2021** The trustees present their report with the financial statements of the charity for the year ended 30 September 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** The principal objectives are the provision of accommodation for the needy residents of Hull and district and the maintenance of the Lee's Rest Houses. To achieve these objectives funds are raised by way of a weekly charge on residents and from investments and are applied in the improvements and upkeep of the property and administration costs. The trustees have complied with the duty in section 17(5) of the Charities Act 2011 to have due regard to public benefit, guidance as published by the Charity Commission. ## **ACHIEVEMENT AND PERFORMANCE** ## **Charitable activities** The organisation continued to provide low cost accommodation throughout the year. The charity has met its objective by continuing to maintain the buildings and grounds for the use by the residents at a cost subsidised to a level below normal market rates. The number of beneficiaries of the charity's main activities are shown below: |Number of residents at year end
Changes in residents during the year due to:
New residents
Resignations
Deaths
Average age of residents|**2021**
136
23
6
6
12
76|**2020**
125
13
11
6
17
77| |---|---|---| -2- **LEE'S REST HOUSES** **REPORT OF THE TRUSTEES for the Year Ended 30 September 2021** ## **FINANCIAL REVIEW** ## **Investment policy and objectives** The organisations investment powers are prescribed in the deed as amended by the Charity Commission. Details of the powers within each fund are set out in note 1 to the accounts. The organisations investments are decided upon by the Board of Trustees in consultation with its investment advisors. ## **Investment policy** The charity aims to establish sufficient reserve funds to deal with the future needs of its activities. Given the current economic climate it is adopting a strategy to safeguard its resources and invest in cash deposits. ## **Reserves policy** The charity reserves of £1,673,951 are held to secure the ongoing needs of the charity. The charity aim is to build up these reserves in order to safeguard the charity's ability to continue in providing affordable accommodation to the elderly. ## **Pensions** The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in independently administered funds. COVID 19 During the year the charity received funding under the Government's Job Retention Scheme. The pandemic has not had any further impact on the running of the charity during the year. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity. Lee's Rest Houses is a registered charity in England and Wales and operates as an unincorporated body. The charity was established by the original deed arising under the will of the late Dr. C. A. Lee who died on 13th January 1912. The original deed has been amended and extended by agreement with the Charity Commission. ## **Organisational structure** Lee's Rest Houses is governed by a Board of trustees who meet quarterly and delegate the day to day operation of the organisation to full time senior management. New trustees join the Board at the invitation of the Board and are chosen with a view to ensuring that the Board contains an appropriate balance of experience relevant to the operations of Lee's Rest Houses. New trustees are provided with guidance on their responsibilities in being a charity trustee. ## **Key management remuneration** Key management personnel received remuneration of £42,354 for the year ended 30th September 2021. ## **Risk management** The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The principle risks to the charity are those which would effect the physical structure of the site. The trustees strategy to mitigate these risks is to continue providing investment and maintenance of the buildings and infrastructure. -3- **LEE'S REST HOUSES** **REPORT OF THE TRUSTEES for the Year Ended 30 September 2021** Approved by order of the board of trustees on 12 May 2022 and signed on its behalf by: Adrian Mark Horsley - Trustee -4- **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LEE'S REST HOUSES** ## **Independent examiner's report to the trustees of Lee's Rest Houses** I report to the charity trustees on my examination of the accounts of Lee's Rest Houses (the Trust) for the year ended 30 September 2021. ## **Responsibilities and basis of report** As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act'). I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent examiner's statement** Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of Institute of Chartered Accountants which is one of the listed bodies. I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Patrick Scargill FCCA Institute of Chartered Accountants Sowerby Chartered Accountants Beckside Court Annie Reed Road Beverley East Yorkshire HU17 0LF 12 May 2022 -5- **LEE'S REST HOUSES** ## **STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 30 September 2021** |Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
3
**Charitable activities**
5
Charges to residents
Governance costs
Income from laundry
Electric sales
Investment income
4
**Total**
**EXPENDITURE ON**
**Raising funds**
Other trading activities
6
**Charitable activities**
7
Governance costs
**Total**
Net gains/(losses) on investments
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
funds
£
7,691
470,742
762
2,193
78,551
9,439
569,378
446,119
446,119
225,677
671,796
42,564
(59,854)
1,653,782
1,593,928|Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
80,023
80,023|2021
Total
funds
£
7,691
470,742
762
2,193
78,551
9,439
569,378
446,119
446,119
225,677
671,796
42,564
(59,854)
1,733,805
1,673,951|2020
Total
funds
£
24,927
508,421
1,668
1,704
97,170
8,404
642,294
309,449
309,449
206,981
516,430
(7,409)
118,455
1,615,350
1,733,805| |---|---|---|---|---| ## **CONTINUING OPERATIONS** All income and expenditure has arisen from continuing activities. The notes form part of these financial statements -6- **LEE'S REST HOUSES** ## **BALANCE SHEET 30 September 2021** |Notes
**FIXED ASSETS**
Tangible assets
13
Investments
14
**CURRENT ASSETS**
Debtors
15
Cash at bank and in hand
**CREDITORS**
Amounts falling due within one year
16
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
17
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Unrestricted
funds
£
473,241
658,570
1,131,811
3,628
516,715
520,343
(58,226)
462,117
1,593,928
1,593,928|Restricted
funds
£
76,205
-
76,205
-
3,818
3,818
-
3,818
80,023
80,023|2021
Total
funds
£
549,446
658,570
1,208,016
3,628
520,533
524,161
(58,226)
465,935
1,673,951
1,673,951
1,593,928
80,023
1,673,951|2020
Total
funds
£
641,768
312,507
954,275
55,610
764,781
820,391
(40,861)
779,530
1,733,805
1,733,805
1,653,782
80,023
1,733,805| |---|---|---|---|---| The financial statements were approved by the Board of Trustees and authorised for issue on 12 May 2022 and were signed on its behalf by: Adrian Mark Horsley - Trustee The notes form part of these financial statements -7- **LEE'S REST HOUSES** ## **CASH FLOW STATEMENT for the Year Ended 30 September 2021** |Notes
**Cash flows from operating activities**
Cash generated from operations
1
Net cash provided by operating activities
**Cash flows from investing activities**
Purchase of tangible fixed assets
Purchase of fixed asset investments
Sale of fixed asset investments
Sale of investment property
Sale of social investments
Interest received
Dividends received
Net cash (used in)/provided by investing activities
**Change in cash and cash equivalents in the**
**reporting period**
**Cash and cash equivalents at the beginning**
**of the reporting period**
**Cash and cash equivalents at the end of**
**the reporting period**|2021
£
49,812
49,812
-
(309,366)
5,867
-
-
73
9,366
(294,060)
(244,248)
764,781
520,533|2020
£
151,277
151,277
50,580
(7,532)
11,755
(1,467)
(5,942)
873
7,531
55,798
207,075
557,706
764,781| |---|---|---| The notes form part of these financial statements -8- **LEE'S REST HOUSES** **NOTES TO THE CASH FLOW STATEMENT for the Year Ended 30 September 2021** ## **1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES** |**ACTIVITIES**||| |---|---|---| |**Net (expenditure)/income for the reporting period (as per the**
**Statement of Financial Activities)**
**Adjustments for:**
Depreciation charges
(Gain)/losses on investments
Interest received
Dividends received
Decrease/(increase) in debtors
Increase in creditors||2021
2020
£
£
(59,854)
118,455
92,322
78,762
(42,564)
7,409
(73)
(873)
(9,366)
(7,531)
51,982
(55,034)
17,365
10,089| |**Net cash provided by operations**||49,812
151,277| |2.
**ANALYSIS OF CHANGES IN NET FUNDS**
**Net cash**
Cash at bank and in hand|At 1/10/20
£
764,781|Cash flow
At 30/9/21
£
£
(244,248)
520,533| ||764,781|(244,248)
520,533| |**Total**|764,781|(244,248)
520,533| The notes form part of these financial statements -9- **LEE'S REST HOUSES** **NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 30 September 2021** ## **1. FUNDS** ## **Restricted funds** The restricted funds are those set up by the original trust arising under the will of the late Dr. C. A. Lee who died on 13th January 1912. The use of the funds is controlled by the original trust deed, as amended or extended by Schemes from the Charity Commissioners. The funds are divided into the following sections: ## **Property endowment fund** This is the fund used to buy the land and erect the buildings thereon. ## **Mortgage redemption fund** A loan was provided by Hull Corporation to meet the cost of improvements to the flats in 1969. As the loan was repaid it was necessary to build up a Redemption Fund of a similar amount in order to retain the capital within the trust. ## **Unrestricted funds** ## **Restricted investment fund** This was set up by the Charity Commissioners' Scheme of 21st July 1959 when investments on that date were divided into one third in this Fund and two thirds in the Free Investment Fund. ## **Free investment fund** Liquid resources of the fund are held in cash at bank ## **Designated funds** The Designated Funds have been set up by resolution of the Trustees at different times and for different purposes. They are: ## **Cyclical maintenance fund** This Fund is to meet expenditure on repairs and decorations where deterioration occurs from year to year but work is done less frequently. Liquid resources of the fund are held in cash at bank ## **Extraordinary repair fund** This Fund is to meet exceptional expenditure, particularly excessive repairs and improvements. Liquid resources of the fund are held in cash at bank ## **Property maintenance fund** This Fund originated as a donation for the maintenance of property gifted to the Trustees in 1973. Since that date expenditure on fencing has reduced the fund to its present level. -10- continued... **LEE'S REST HOUSES** **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 September 2021** ## **2. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. The trust constitues a public benefit entity as defined by FRS 102. The trustees consider that there are no material uncertanties about the trust's ability to continue as a going concern. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. A grant has been received under the Government's Coronavirus Job Retention scheme during the year. This has been recognised in the period to which it relates. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. ## **Tangible fixed assets** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Freehold property - not provided Improvements to property - 10% on cost ## **Taxation** The charity is exempt from tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **Pension costs and other post-retirement benefits** The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. -11- continued... **LEE'S REST HOUSES** **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 September 2021** **----- Start of picture text -----**
3. DONATIONS AND LEGACIES
2021 2020
£ £
Grants 7,691 24,927
Grants received, included in the above, are as follows:
2021 2020
£ £
Lottery funding - 9,893
Coronavirus Job Retention scheme 7,691 15,034
7,691 24,927
4. INVESTMENT INCOME
2021 2020
£ £
UK listed investments 5,814 4,786
Overseas listed investments 3,552 2,745
Deposit account interest 73 873
9,439 8,404
5. INCOME FROM CHARITABLE ACTIVITIES
Charges Income
to Governance from
residents costs laundry
£ £ £
Charges to residents 470,742 - -
Income from laundry - - 2,193
Hall rental - 762 -
- - -
Electric charges to residents
RHI - - -
470,742 762 2,193
**----- End of picture text -----**
-12- continued... **LEE'S REST HOUSES** **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 September 2021** ## **5. INCOME FROM CHARITABLE ACTIVITIES - continued** |Charges to residents
Income from laundry
Hall rental
Electric charges to residents
RHI
**6.**
**OTHER TRADING ACTIVITIES**
Heating costs
Staff costs
Rates and water
Insurance
Background heating
Garden maintenance
Water charges
Cleaning
Routine maintenance
Property repairs
**7.**
**CHARITABLE ACTIVITIES COSTS**
Governance costs|Electric
sales
£
-
-
-
63,742
14,809
78,551|2021
Total
activities
£
470,742
2,193
762
63,742
14,809
552,248
2021
£
13,459
24,655
9,537
14,442
122,734
2,499
27,277
4,687
38,616
188,213
446,119
c|2020
Total
activities
£
508,421
1,704
1,668
79,165
18,005
608,963
2020
£
12,457
23,474
2,637
14,520
123,634
1,050
28,235
2,777
32,943
67,722
309,449
Support
osts (see
note 8)
£
225,677| |---|---|---|---| -13- continued... **LEE'S REST HOUSES** **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 September 2021** ## **8. SUPPORT COSTS** Governance costs Governance costs £ 225,677 ## **9. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 30 September 2021 nor for the year ended 30 September 2020. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 30 September 2021 nor for the year ended 30 September 2020. ## **10. STAFF COSTS** |Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Administration
Cleaning
Caretaker
Garden maintenance|2021
£
112,240
5,370
7,627
125,237
2021
2
2
1
1
6||2020
£
103,749
7,582
7,126
118,457
2020
2
2
1
1
6| |---|---|---|---| No employees received emoluments in excess of £60,000. |The number of employees to whom retirement benefits
were accruing under defined contribution schemes|4
4| |---|---| ||| -14- continued... **LEE'S REST HOUSES** **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 September 2021** **----- Start of picture text -----**
11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
funds funds funds
£ £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 24,927 - 24,927
Charitable activities
Charges to residents 508,421 - 508,421
Governance costs 1,668 - 1,668
Income from laundry 1,704 - 1,704
Electric sales 97,170 - 97,170
Investment income 8,404 - 8,404
Total 642,294 - 642,294
EXPENDITURE ON
Raising funds
Other trading activities 309,449 - 309,449
309,449 - 309,449
Charitable activities
Governance costs 206,981 - 206,981
Total 516,430 - 516,430
-
Net gains/(losses) on investments (7,409) (7,409)
NET INCOME 118,455 - 118,455
RECONCILIATION OF FUNDS
Total funds brought forward 1,535,327 80,023 1,615,350
TOTAL FUNDS CARRIED FORWARD 1,653,782 80,023 1,733,805
**----- End of picture text -----**
-15- continued... **LEE'S REST HOUSES** **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 September 2021** ## **12. INDEPENDENT EXAMINER'S REMUNERATION** The independent examiner's remuneration constituted an independent examiners fee of £3,000 (2020 - £2,800) and additional accountancy, and secretarial services of £8,875 (2020 - £6,998). ## **13. TANGIBLE FIXED ASSETS** |**COST**
At 1 October 2020 and 30 September 2021
**DEPRECIATION**
At 1 October 2020
Charge for year
At 30 September 2021
**NET BOOK VALUE**
At 30 September 2021
At 30 September 2020
**14.**
**FIXED ASSET INVESTMENTS**
**MARKET VALUE**
At 1 October 2020
Additions
Disposals
Revaluations
At 30 September 2021
**NET BOOK VALUE**
At 30 September 2021
At 30 September 2020
**Analysis of investment assets**
Assets in the UK
Assets outside the UK|Improvements
Freehold
to
property
property
£
£
76,205
942,147
-
376,584
-
92,322
-
468,906
76,205
473,241
76,205
565,563|Improvements
Freehold
to
property
property
£
£
76,205
942,147
-
376,584
-
92,322
-
468,906
76,205
473,241
76,205
565,563|Totals
£
1,018,352
376,584
92,322
468,906
549,446
641,768
Listed
investments
£
312,507
309,366
(5,867)
42,564
658,570
658,570
312,507|Totals
£
1,018,352
376,584
92,322
468,906
549,446
641,768
Listed
investments
£
312,507
309,366
(5,867)
42,564
658,570
658,570
312,507| |---|---|---|---|---| |||**2021**
422,804
235,766
658,570||**2020**
179,810
132,697
312,507| -16- continued... **LEE'S REST HOUSES** **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 September 2021** ## **14. FIXED ASSET INVESTMENTS - continued** Cost or valuation at 30 September 2021 is represented by: |Valuation in 2021
**15.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other debtors
VAT
**16.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Taxation and social security
Other creditors
**17.**
**MOVEMENT IN FUNDS**
Net
At
movement
1/10/20
in funds
£
£
**Unrestricted funds**
Restricted investment fund
308,941
42,786
Free investment fund
1,325,143
85,573
Cyclical maintenance fund
20,783
(74,651)
Extraordinary repair fund
(1,475)
(113,562)
Property maintenance fund
390
-
1,653,782
(59,854)
**Restricted funds**
Property endowment fund
50,023
-
Mortgage redemption fund
30,000
-
80,023
-
**TOTAL FUNDS**
1,733,805
(59,854)|2021
£
2,484
1,144
3,628
2021
£
-
58,226
58,226
Transfers
between
funds
£
(58,667)
(117,333)
60,000
116,000
-
-
-
-
-
-|Listed
investments
£
658,570
2020
£
6,206
49,404
55,610
2020
£
1,334
39,527
40,861
At
30/9/21
£
293,060
1,293,383
6,132
963
390
1,593,928
50,023
30,000
80,023
1,673,951| |---|---|---| -17- continued... **LEE'S REST HOUSES** **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 September 2021** ## **17. MOVEMENT IN FUNDS - continued** Net movement in funds, included in the above are as follows: |**Unrestricted funds**
Restricted investment fund
Free investment fund
Cyclical maintenance fund
Extraordinary repair fund
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Unrestricted funds**
Restricted investment fund
Free investment fund
Cyclical maintenance fund
Extraordinary repair fund
Property maintenance fund
**Restricted funds**
Property endowment fund
Mortgage redemption fund
**TOTAL FUNDS**|Incoming
resources
£
189,794
379,584
-
-
569,378
569,378|Resources
expended
£
(161,196)
(322,387)
(74,651)
(113,562)
(671,796)
(671,796)
At
1/10/19
£
250,180
1,207,620
55,446
21,691
390
1,535,327
50,023
30,000
80,023
1,615,350||Gains and
losses
£
14,188
28,376
-
-
42,564
42,564
Net
movement
in funds
£
58,761
117,523
(34,663)
(23,166)
-
118,455
-
-
-
118,455|Movement
in funds
£
42,786
85,573
(74,651)
(113,562)
(59,854)
(59,854)
At
30/9/20
£
308,941
1,325,143
20,783
(1,475)
390
1,653,782
50,023
30,000
80,023
1,733,805| |---|---|---|---|---|---| -18- continued... **LEE'S REST HOUSES** **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 September 2021** ## **17. MOVEMENT IN FUNDS - continued** Comparative net movement in funds, included in the above are as follows: |**Unrestricted funds**
Restricted investment fund
Free investment fund
Cyclical maintenance fund
Extraordinary repair fund
**TOTAL FUNDS**|Incoming
Resources
resources
expended
£
£
210,800
(149,569)
421,601
(299,139)
-
(34,663)
9,893
(33,059)
642,294
(516,430)
642,294
(516,430)|Gains and
Movement
losses
in funds
£
£
(2,470)
58,761
(4,939)
117,523
-
(34,663)
-
(23,166)
(7,409)
118,455
(7,409)
118,455| |---|---|---| A current year 12 months and prior year 12 months combined position is as follows: |**Unrestricted funds**
Restricted investment fund
Free investment fund
Cyclical maintenance fund
Extraordinary repair fund
Property maintenance fund
**Restricted funds**
Property endowment fund
Mortgage redemption fund
**TOTAL FUNDS**|At
1/10/19
£
250,180
1,207,620
55,446
21,691
390
1,535,327
50,023
30,000
80,023
1,615,350|Net
movement
in funds
£
101,547
203,096
(109,314)
(136,728)
-
58,601
-
-
-
58,601|Transfers
between
funds
£
(58,667)
(117,333)
60,000
116,000
-
-
-
-
-
-|At
30/9/21
£
293,060
1,293,383
6,132
963
390
1,593,928
50,023
30,000
80,023
1,673,951| |---|---|---|---|---| -19- continued... **LEE'S REST HOUSES** **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 September 2021** ## **17. MOVEMENT IN FUNDS - continued** A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |Incoming
Resources
resources
expended
£
£
**Unrestricted funds**
Restricted investment fund
400,594
(310,765)
Free investment fund
801,185
(621,526)
Cyclical maintenance fund
-
(109,314)
Extraordinary repair fund
9,893
(146,621)
1,211,672
(1,188,226)
**TOTAL FUNDS**
1,211,672
(1,188,226)|Gains and
Movement
losses
in funds
£
£
11,718
101,547
23,437
203,096
-
(109,314)
-
(136,728)
35,155
58,601
35,155
58,601| |---|---| ## **18. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 30 September 2021. -20- **LEE'S REST HOUSES** ## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 30 September 2021** |**INCOME AND ENDOWMENTS**
**Donations and legacies**
Grants
**Investment income**
UK listed investments
Overseas listed investments
Deposit account interest
**Charitable activities**
Charges to residents
Income from laundry
Hall rental
Electric charges to residents
RHI
**Total incoming resources**
**EXPENDITURE**
**Other trading activities**
Heating costs
Wages
Social security
Pensions
Rates and water
Insurance
Background heating
Garden maintenance
Water charges
Cleaning
Routine maintenance
Property repairs
**Support costs**|2021
£
7,691
5,814
3,552
73
9,439
470,742
2,193
762
63,742
14,809
552,248
569,378
13,459
22,445
1,074
1,136
9,537
14,442
122,734
2,499
27,277
4,687
38,616
188,213
446,119|2020
£
24,927
4,786
2,745
873
8,404
508,421
1,704
1,668
79,165
18,005
608,963
642,294
12,457
20,863
1,542
1,069
2,637
14,520
123,634
1,050
28,235
2,777
32,943
67,722
309,449| |---|---|---| This page does not form part of the statutory financial statements -21- **LEE'S REST HOUSES** ## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 30 September 2021** |**Support costs**
**Governance costs**
Salaries
Social security
Pensions
Brokers fees
Bank charges and interest
Legal and professional fees
General administration, stationery telephones etc.
Accountancy
Depreciation
Total resources expended
**Net (expenditure)/income before gains and**
**losses**
**Realised recognised gains and losses**
Unrealised gains on investments
Realised gains/(losses) on programme related
investments
**Net (expenditure)/income**|2021
£
89,795
4,296
6,491
5,867
207
4,951
9,873
11,875
92,322
225,677
671,796
(102,418)
39,189
3,375
(59,854)|2020
£
82,886
6,040
6,057
4,347
306
2,768
16,017
9,798
78,762
206,981
516,430
125,864
(1,467)
(5,942)
118,455| |---|---|---| This page does not form part of the statutory financial statements -22-