# ## ## |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| ## ## ##