| Company | Information | |
|---|---|---|
| Report of | the Board (including Strategic Report) |
2 to 12 |
| Independent Auditor's Report |
13to 16 | |
| Statement | ofComprehensive Income |
17 |
| Statement | of Financial Position |
18 |
| Statement | ofChanges in Equity |
19 |
| Statement | of Cash Flows | 20 |
| Notes to the Financial Statements | 21 to 34 |
| The company's key financial and other performance |
indicators duding the y |
ear were as follo | ws: |
|---|---|---|---|
| Unit | 2022 | 2021 | |
| Surplus/(Deficit) as '/o ofTotal turnover Occupancy at The Grove Occupancy at Castle Farm Total Staff costs as '/o ofTotal turnover Food costs as '%%d ofTotal turnover Light/Heat costas '/o ofTotal turnover Voids as 'k of Housing Income |
0/ D/ 0/ 0/ '/o '/o o/o |
.40 84.40 95.90 72.60 5.00 4.60 11.89 |
2.70 87.90 94.60 75.90 5.30 3.60 10.04 |
| Statement of Co January 2022 |
mprehensive | In | come fo | r the Y | ear Ended 3 | 1 |
|---|---|---|---|---|---|---|
| Note | 2022 6 |
2021s | ||||
| Turnover | 1,903,156 | 1,847,952 | ||||
| Operating expenses |
(2,021,124) | (1,923,474) | ||||
| Other operating income |
84,636 | 126,056 | ||||
| Operating (deficit)/surplus Loss on financial assets account Income from other fixed Other interest receivable |
at fair value through asset investments and similar income |
profit and loss | (33,332) (3,012) 43,595 305 |
50,534 (53,621) 35,609 1,948 |
||
| Surplus for the financial year Gain on revaluation of other assets |
10 | 7,556 109,480 |
34,470 146,321 |
|||
| Total comprehensive income for the financial |
year | 117,036 | 180,791 | |||
| The above results were | derived from continuing |
operations. |
| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| Note | 6 | 6 | ||||
| Fixed assets | ||||||
| Tangible assets Investments |
10 11 |
1,597,452 2,879,095 |
1,668,911 2,411,731 |
|||
| 4,476,547 | 4,080,642 | |||||
| Current assets | ||||||
| Debtors Investments |
12 13 |
86,949 223,917 |
53,091 312,294 |
|||
| Cash at bank | and in | hand | 564,628 | 770,224 | ||
| 875,494 | 1,135,609 | |||||
| Creditors: Amounts | falling | due within one year | 14 | ~191,066) | (157,384) | |
| Net current | assets | 684,428 | 978,225 | |||
| Total assets | less current | liabilities | 5,160,975 | 5,058,867 | ||
| Creditors: Amounts | falling | due after more than one year | 14 | ~281,888 | ~296.816 | |
| Net assets | 4,879,087 | 4,762,051 | ||||
| Capital and Revaluation |
reserves reserve |
18 | 290,599 | 228,553 | ||
| Restricted reserves Unrestricted reserves |
18 18 |
78,772 4,509,716 |
93,386 4,440,112 |
|||
| Total equity | 4,879,087 | 4,762,051 |
| Statement of | Changes | in Equity for | the Year En | ded 31Janua | ry 2022 |
|---|---|---|---|---|---|
| Revaluation | Restricted | Unrestricted | |||
| reservef | reservef | reservef | Totalf | ||
| At 1 February 2020 | 82,232 | 70,458 | 4,428,570 | 4,581,260 | |
| Total comprehensive Transfers |
income | 146,321 | 22,928 | 34,470 (22,928) |
180,791 |
| At 31 January 2021 | 228,553 | 93,386 | 4,440,112 | 4,762,051 | |
| Revaluation | Restricted | Unrestricted | |||
| reservef | reserve | accountf | Totalf | ||
| At 1 February 2021 | 228,553 | 93,386 | 4,440,112 | 4,762,051 | |
| Total comprehensive Transfers |
income | 109,480 ~47,434 |
~14.614 | 7,556 62,048 |
117,036 |
| At 31 January 2022 | 290,599 | 78,772 | 4,509,716 | 4,879,087 |
| Statement ofCash Flows fo | r the Year | Ended | 31January | 2022 |
|---|---|---|---|---|
| 2022 | 2021 | |||
| Note | ||||
| Cash flows from operating activities |
||||
| Surplus for the year | 7,556 | 34,470 | ||
| Adjustments to cash flows from non-cash Social housing grant recognised in income Depreciation and amortisation Finance income |
items | 6 7 |
(14,928) 80,251 ~43.900 |
(15,015) 80,786 ~37,557 |
| 28,979 | 62,684 | |||
| Working capital adjustments (Increase)/decrease in debtors Increase in creditors |
12 14 |
(33,858) 33,682 |
18,121 36,672 |
|
| Net cash flow from operating activities |
28,803 | 117477 | ||
| Cash flows from investing activities Interest received |
43,900 | 37,557 | ||
| Acquisitions oftangible assets Acquisition of investments Disposals ofinvestments Other current asset movements |
(8,792) (501,151) 143,267 88,377 |
(758,176) 821,735 ~28,4157 |
||
| Net cash flows from investing activities |
~234,399 | 72,700 | ||
| Net (decrease)/increase in cash and cash |
equivalents | (205,596) | 190,177 | |
| Cash and cash equivalents at 1 February |
770,224 | 580,047 | ||
| Cash and cash equivalents at 31January |
564,628 | 770,224 |
| construction over thei |
r estimated useful lives, |
as follows: |
|---|---|---|
| Asset class | Depreciation method and rate |
|
| Land | Not depreciated | |
| Structure &roof |
50years straight line |
|
| Kitchens, bathrooms, Lift |
doors and windows | 30years straight line 15years straight line |
| Heating - boilers Heating - radiators Fixtures and fittings |
10years straight line 25 years straight line 15%reducing balance |
| Operating | |||||
|---|---|---|---|---|---|
| Operating | deficit | ||||
| Turnover f |
costs | 2022f | |||
| Social Other |
housing | lettings | 1,903,156 84,686 1.987,792 |
(1,925,659) ~95.465 ~2,027.124 |
(22,503) ~10,829 33,332 |
| Operating | |||||
| Operating | surplus | ||||
| Turnover f |
costs f |
2021f | |||
| Social Other |
housing | lettings | 1,847,952 126.056 1,974008 |
(1,811,309) ~99.645 ~1,910954 |
36,643 26,411 63,054 |
| Particulars ofthe company's |
rev | enue | for the year from cont | i | nuing op |
erations is as foll |
ows: |
|---|---|---|---|---|---|---|---|
| 2022 | 2021 | ||||||
| 6 | |||||||
| Rent receivable net of identifiable Amortised government grants Other grants |
service charges | 1,888,228 14,444 484 |
1,832,937 14,444 571 |
||||
| 1,903,156 | 1,847,952 | ||||||
| Void losses (being rental income being let, although available for |
lost as a result of property letting) |
not | ~228, 288) | ~)8844)) | |||
| 4 Analysis ofTurnover, |
Operating | Costs and Operating | Surplus | forthe year | |||
| Social | |||||||
| housing | |||||||
| letting expenditure 6 |
2022 6 |
2021f | |||||
| Operating Expenditure |
|||||||
| Management charges payable Routine maintenance |
21,286 50,155 |
224 | 21,286 50,379 |
18,636 35,424 |
|||
| Planned maintenance |
1,660 | 1,660 | |||||
| Depreciation of housing properties Payroll costs Other staff costs Food Other hire Travelling and subsistence Rent and rates Light, heat and power Insurance Telephone and fax Office expenses Other costs Legal and professional fees Cleaning Auditor's remuneration Bank charges Premises expenses |
80,251 1,315,106 34,458 95,592 8,477 2,743 14,990 86,490 23,830 9,720 36,839 95,919 3,663 13,808 5,950 373 24,349 |
65,401 23,573 6,267 |
80,251 1,380,507 58,031 95,592 8,477 2,743 14,990 86,490 23,830 9,720 36,839 95,919 3,663 20,075 5,950 373 24,349 |
80,786 1,402,780 2,011 97,143 7,998 1,144 15,692 67,165 17,413 9,572 38,466 69,294 1,090 38,017 5,450 378 15,015 |
|||
| Total operating expenditure |
1,925,659 | 95,465 | 2,021,124 | 1,923,474 |
| The analysis | ofthe c | ompany's | other operating income for |
the year isas follows: | |
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| 6 | |||||
| Government Miscellaneous |
grants other |
operating | income | 81,850 2,786 |
122,573 3,483 |
| 64656 | 166,651! |
| Arrived at after charging/(crediti | ng) | ||
|---|---|---|---|
| 2022 | 2021 | ||
| Depreciation expense Development costs Auditors remuneration Amortised government grants |
80,251 44,416 5,950 (14,444) |
80,786 40,298 5,450 ~14,444 |
|
| 7 Other interest receivable |
and similar income | ||
| 2022 | 2021f | ||
| i | 305 | 1,948 |
| 8 Staffcosts |
|||||||
|---|---|---|---|---|---|---|---|
| The aggregate | payroll | costs (including | directors' | remuneration) | were as follows: | ||
| 2022f | 2021 | ||||||
| Wages and salaries Social security costs Pension costs, defined |
contribution | scheme | 1,266,787 88,151 25,569 |
1,284,955 89,384 28,441 |
|||
| 1,300007 | 1402780 |
| 10Tangible assets | |||
|---|---|---|---|
| Housing | Furniture, | ||
| properties for let |
fittings and equipmentf |
Totalf | |
| Cost or valuation At 1 February 2021 Additions |
3,315,192 | 482 685 8,792 |
3797877 8,792 |
| At 31 January 2022 | 3,315,192 | 491,477 | 3,806,669 |
| Depreciation At 1 February 2021 Charge for the year |
1,716,321 68,426 |
412,645 11,825 |
2,128,966 80,251 |
| At 31 January 2022 | 1,784,747 | 424,470 | 2,209,217 |
| Carrying amount |
|||
| At 31 January 2022 | 1,530,445 | 67,007 | 1,597,452 |
| At 31 January 2021 | 1.888871 | 70040 | 1,668,911 |
| Financial | |||
|---|---|---|---|
| assets at fair | |||
| value through | |||
| profit and | |||
| lossf | Total | ||
| Nonwunent | financial assets | ||
| Cost or valuation At 1 February 2021 Additions Disposals Fair value adjustments |
2,411,731 501,151 (143,267) 109,480 |
2,411,731 501,151 (143,267) 109,480 |
|
| At 31 January | 2022 | 2,879,095 | 2,879,095 |
| 2022f | 2021f | ||
| Historic cost At 1 February Additions Disposals |
2,213,514 2,196,814 501,150 758,178 ~726, 767 ~741,478 |
||
| At 31 January | 2,588,497 | 2,213,514 |
| 2022 | 2021 | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 6 | 6 | ||||||||||
| Realised Opening Proceeds |
(loss)/gain market value |
of | disposals | 143,267 ~740,255 |
821,735 ~700,114 |
||||||
| Realised | losses/(gains) | 3,012 | 53,621 | ||||||||
| 2022 | 2021 | ||||||||||
| 6 | |||||||||||
| Opening market value of investments Closing market value of investments |
2,411,731 ~2,879,095 |
2,328,967 ~2,411,731 |
|||||||||
| (467,364) | (82,764) | ||||||||||
| Additions Disposals 0„ It |
0 )0 I )II |
p | 6t t | t | I0 | 0 | 0 | I | I | 501,151 ~143,207 ~100,400 |
758,178 ~827,735 ~140,321) |
| 11Investments (con |
tinued) | ||||||
|---|---|---|---|---|---|---|---|
| Market | |||||||
| Cost | Value | %Holding | |||||
| Units | 6 | 8 | |||||
| Edgewood LSelect US Select Growth I Z SPDR Series Trust S&P500ETF iShares PLC Physical Gold (ETC)(GBP) Link Fund Solutions Trojan S Inc |
510 760 5,400 57,000 |
90,915 168,174 161,396 135,958 |
145,219 206,998 142,668 162,559 |
5 7 5 6 |
|||
| 12Debtors | |||||||
| 2022 | 2021 | ||||||
| 8 | |||||||
| Trade debtors (gross Other debtors Prepayments |
rent arrears) | 30,068 13,605 43,276 |
16,139 4,899 32,053 |
||||
| 86,949 | 53,091 | ||||||
| 13Current asset investments | |||||||
| 2022 | 2021 | ||||||
| 8 | 8 | ||||||
| Investments | 223,917 | 312,294 | |||||
| 14Creditors | |||||||
| 2022 | 2021 | ||||||
| Note | 8 | 6 | |||||
| Due within one year Trade creditors Social security and other taxes Other creditors Accrued expenses |
33,164 25,141 19,265 113,496 |
31,642 21,070 14,161 90,511 |
|||||
| 191,066 | 157,384 | ||||||
| Due after one year Other capital grants Social housing grant |
(amortised | cost) | 2,748 279,140 |
3,232 293,584 |
|||
| 281,888 | 296,816 |
due in five years or more. The financial instrum repayable as follows: |
due in five years or more. The financial instrum repayable as follows: |
ents held and fair value through the profit and loss are |
ents held and fair value through the profit and loss are |
|---|---|---|---|
| In five years or more | 2022 2021 f ~LLBSfL ~LRffl. |
||
| 16Social housing | grant | ||
| Social | |||
| housing | |||
| grant | Total | ||
| 6 | 5 | ||
| Gross grant creditor At 1 February 2021 |
722,215 | 722,215 | |
| At 31 January 2022 | 722,215 | 722,215 | |
| Amortisation At 1 February 2021 Transfers |
428,631 14,444 |
428,631 14,444 |
|
| At 31 January 2022 | 443,075 | 443,075 | |
| Canying amount |
|||
| At 31 January 2022 | 279,140 | 279,140 | |
| At 31 January 2021 | 293,584 | 293,584 |
| Operating leases The total offuture minimum lease payments is as follows: |
||
|---|---|---|
| 2022 | 2021 | |
| 6 | ||
| Not later than one year Later than one year and not later than five years |
3,098 12,392 |
4,095 6,104 |
| 15,455 | 10,199 |