## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |AS AT31DECE|MBER|2020||||| |---|---|---|---|---|---|---| ||||||2020|2019| |||||Metr||E|| |TURNOVER|||||312,774|251,654| |Operating
costs|||||(196&788)|(204,972)| |OPERATING
SURPLUS||||2/5|115,986|46,682| |Interest receivable|||||247|249| |SURPLUS BEFORE|TAX||||116,233|46,931| |Taxatlon||||||| |SURPLUS FOR THE YEAR|||||116,233|46,931| |Other recognised|gains /(losses(||in the year; Change|In fair value||| |of Investments|||||(45,443)|129,400| |TOTAL COMPREHENSIVE||INCOME FOR THE YEAR|||70,790|176,331| ## ## ## |||||2020||2019| |---|---|---|---|---|---|---| |||Note||||E| |FIXEDASSETS||||||| |Housing properties
Other tangible fbxed assets
Investments||||299,306
6,892
1,208,500||313,080
8,108
1,274,130| |CURRENT ASSETS||||1,514,698||1,595,318| |Debtors||io|22)314||26,850|| |Cash and cash equivalents|||395,218||199,592|| ||||407,532||226,442|| |CREDITORS: Amounts|falling due|||||| |within one year||ii|61,040||14,244|| |NET CURRENT ASSETS||||346,492||212,198| |TOTAL ASSETS LESS CURRENT LIABILmES||||1,861)190||1,807,516| |CREDITORS: Amounts|falling due after|||||| |more than one year||||307,949||325,065| |TOTAL NET ASSETS||||1,553)241||1,482,451| |CAPITAL AND RESERVES||||||| |Revaluation
reserves||15|28,437||91,337|| |Designated reserves||14|350,586||282,073|| |Revenue reserves|||1,174,218||1,109,041|| |TOTAL CAPITAL AND RESERVES||||1,S53,241||1,482,451| ## ## |||Revaluation|Designated|Revenue|Total| |---|---|---|---|---|---| |||reserve|reserves|reserves|Reserves| |Balance at 1January 2019||(18,681)|279,805|1,044,996|1,306,120| |Surp)us/(deAcit)
from statement
of||||176,331|176,331| |comprehensive
income year ended 31|||||| |December 2019 —Total Comprehensive|Income||||| |Transfer from unrestricted
reserves to|||2,268|(2,268)|| |designated
reserves|||||| |Transfer from revaluation
reserves to||110,018||(110,018)|| |unrestricted
reserves|||||| |Balance at 31December 2019||91,337|282,073|1,109,041|1,482,451| |Surplus / (deficit) from statement
of||||70,790|70,790| |comprehensive
Income year ended 31|||||| |December 2019-Total Comprehensive|Income||||| |Transfer from unrestricted
reserves to|||68,513|(68,513)|| |designated
reserves|||||| |Transfer to revaluation
reserves from||(62,900)||62,900|| |unrestricted
reserves|||||| |Balance at 31December 2020||28,437|350,586|1,174,218|1,553,241| ## ## ## ## ## ## ## ## ## ## ## ## ## ## |2.|(A) TURNOVER,|OPERATING|OPERATING|OPERATING||COSTS AND|COSTS AND|COSTS AND|OPERATING|OPERATING|SURPLUS FOR|THE YEAR|||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| ||||||||||||2020||||2019| |||||||||Operating|||Operating||Operating||Operating| ||||||Turnover||||costs||surplus|Turnover|costs||surplus| ||||||||f|||f|f|f||f|E| ||Saclai Housing|Lettings|||||||||||||| ||(note 9)|||||171,466|||(103,380)||68,086|166,953|(99,576)||67,377| ||Activities other|than|||||||||||||| ||Social Housing|Activities|||||||||||||| ||(note C)|||||141,308|||(93,408)||47,900|84,701|(105,396)||(20,695)| ||TOTAL|||||312,774|||(196,788)||115,986|251,654|(204,972)||46,682| ||(8) PARTICULARS OF TURNOVER AND|||||||OPERATING||EXPENDITURE FROM SOCIAL|||HOUSING|LETTINGS|| ||Income||||||||||2020f||||2019
f| ||Rent receivable|net ofvoids|||||||||154,350||||149,837| ||Amortlsed
social housing|||grant|||||||17,116||||17,116| ||Turnover
from|Social Housing|||||Lettlngs||||171,466||||166,953| ||Operating
expenditure||||||||||||||| ||Management||||||||||36,413||||35,844| ||Bad debts||||||||||2,513||||(781)| ||Generalrepalrs||||||||||13,736||||10,745| ||Services||||||||||35,728||||39,910| ||Depreciation
on housing|||properties|||||||13,774||||12,427| ||Depreciation
on other fixed||||assets||||||1,216||||1,431| ||Operating
expenditure||on Social Housing||||||||||||| ||Lettlngs||||||||||103&380||||99,576| ||Operating
surplus
an Social||||Housing|||Lefflngs|||68,086||||67,377| ||Void Losses||||||||||2,883||||4,480| ||(being rental
Income lost|||as||a|result|of|property||||||| ||not being let)||||||||||||||| ## ## ## ## ||||2020|2019| |---|---|---|---|---| |Income||||f| |Donations;
Donations|Trinity House, London
-General||38,850
1322|38,850| |Grant:|Merchant|Navy Welfare Board||| |Legacy|||66,245|| |Investment|income||34,891|45,851| |Turnover
from other activities|||141,308|84,701| |Operating|expenditure|||| |Pension
payments|||84,411|79,680| |Management|||7,860|24,142| |National
association fees|||621|795| |Other legal|fees|||| |Sundries|||516|779| |Operating|expenditure
on|other activities|93,408|105,396| |OperaUng|surplus/
defldt on other activities||47,900|(20,695)| ## ## ## ## |S.|OPERATING SURPLUS||||||| |---|---|---|---|---|---|---|---| ||||||2020||2019| ||The operating
surplus for|the|year||||f| ||Is stated after charging:||||||| ||Depreriatlon
on housing|properties|||13,774||12,426| ||Depreciation
on other fixed assets||||1,216||1,431| ||Amortlsatlon
of social housing||grant||(17,116)||(17,116)| ||Auditor's
remuneration||||6,000||6,000| |6,|TAXATION||||||| ||No liability
to taxation arises from the|||surplus|arising from rent from members|as the Institution|Is entitled| ||to relief under 5642 ofthe Corporation|||Taxes|Act 2010.||| |7,|TANGI8LE FIXEDASSETS||||||| ||Housing properties —freehold||||2020
f||2019
f| ||Gross cost||||||| ||At 1January||||801,210||871,029| ||Additions||||||27,681| ||Disposals||||||(97,500)| ||At 31December||||801,210||801,210| ||Depreciation||||||| ||At 1January||||488,130||573,204| ||Charge||||13,774||12,426| ||Dlsposals||||||(97,500)| ||At 31December||||501,904||488,130| ||Net book value 31December||||299)306||313,080| |6,|OTHER FIXEDASSETS||||||| ||||||2020||2019| ||||||f||f.| ||Cost||||||| ||At 1January
&31December||||41,867||41,867| ||Depreciation||||||| ||At 1January||||33,759||32,328| ||Charge||||1,216||1,431| ||At 31December||||34,975||33,759| ||Net book value 31December||||6,892||8,108| ## ## ## ||||||||||2020|2019| |---|---|---|---|---|---|---|---|---|---|---| |Fair value,|||||||||F.|E| |As at 1January
Additions
Dlsposals at opening market value
Unreallsed
(loss) / gain In period
Differenc between
gain on market|||||value|and|gain on||1,274,130
712,105
(745,716)
(62,900)|1,147,945
312,936
(298,795)
110,018| |historical cost|||||||||30,881|2,026| |At 31December|||||||||1,208,S00|1,274,130| |UK Equities|||||||||644,924|638,748| |Non
UK Equities
UK Bonds|||||||||194)061
335,259|193,229
403,025| |Non UK Bonds||||||||||| |Money Market Time|||||||||34,2S6|39,128| ||||||||||1,208,500|1,274,130| |(b) Historic Cost||||||||||| |As at 1January
Additions|||||||||1,182,794
712,105|1,166,627
312,936| |Disposals|||||||||(714,834)|(296,769)| |As at 31December|||||||||1,180,06S|1,182,794| |(c) Realised Gain /|(Losses)|||||||||| ||||||||||2020|2019| ||||||||||f|f| |On Cost
Less, Differenc between
gains
/(losses)
cost and fair value||||||arising|In both||17,457
13,424|19,382
(17,356)| |Gain
/ (loss) realised:
fair value dlsposals||Difference between||||proceeds and|||30,881|2,026| |(d) Unreallsed
Gain/(Loss)||||on Fair Value||||||| ||||||||||2020|2019| ||||||||||f|E| |Per investment
note|||||||||(62,900)|110,018| |Realised gain/(loss)||on cost|||||||17J457|19,382| |Other
recognised
gains
Comprehensive
Income|||/|(losses)|In|Statement||of|45,443|129,400| ## ## ## ## ## |9.|INVESTMENTS (contin|INVESTMENTS (contin|ued)|ued)|||||||| |---|---|---|---|---|---|---|---|---|---|---|---| ||At the 31"December||2020 the following||individual|Investments||market
value exceeded|||SSS of the total| ||portfolio market valuation:||||||||||| ||Columbia Thread|Inv UK Fund Class 2||||||280,828|||| ||Jo Hambro
Cap Mgmt||UK Equity|||||313,586|||| |10,|DEBTORS||||||||||| |||||||||2020|||2019| |||||||||f|||6| ||Rent arrears (gross)|||||||12,302|||11,225| ||Less: bad debt provision|||||||(7,790)|||(6,857)| ||Other debtors|||||||219|||14,319| ||Prepayments
and|accrued Income||||||7,583|||8,163| |||||||||12,314|||26,850| |11.|CREDITORS: Amounts||falling due within||one year||||||| |||||||||2020|||2019| |||||||||f|||f| ||Rentln advance|||||||4,683|||3,355| ||Accruals|||||||10,060|||10,890| ||Other Creditor|||||||46,297|||| |||||||||61,040|||14,244| |12.|CREDITORS: Amounts||falling due after more than one year, Induding
convertible||||||debts||| |||||||||2020|||2019| |||||||||f|||f| ||Social Housing
Grant (amortlsed
cost)|||||||307,949|||325,065| ||The social Housing|Grant Is amortlsed||In line with the||life ofthe 'structure'
component,||||at a rate of2ss, and|| ||released as 'income' to the Statement|||of|Comprehensive||Income|on that basis,|||| ||SOCIAL HOUSING|GRANT|||||||||| |||||||||2020|||2019| ||Amounts
received;|||||||f|||f| ||At 1January
&31December|||||||855,818|||855,818| ||Amortlsation:||||||||||| ||At 1January|||||||530,7S3|||513,637| ||Released during|year||||||17,116|||17,116| ||At 31December|||||||547,869|||530,753| ||Carrying value:||||||||||| ||At 31December|||||||307,949|||325,065| ## ## ## ## |||||||2020||2019| |---|---|---|---|---|---|---|---|---| |||||||f||f| |In five years or more||||||307,949||325,065| |DESIGNATED RESERVES||||||||| ||||||||2020|2019| ||||||Cyclical|||| |||||Capital|Repairs and|Contingencies||| |||||Accourtt|Maintenance|Fund|Total|Total| |||||f|E|E|E|E| |As|at 1January||2020|82,095|132,548|67,430|282,073|279,805| |Transfer|||from|66,245|2,268||68,513|2,268| |revenue||reserve||||||| |As|at|31 December||148,340|134,816|67,430|350,586|282,073| |2020||||||||| ## ## ## ## |||||2020|2019| |---|---|---|---|---|---| |||||f|E| |Opening|Balance|||91,337|(18,681)| |Unrealised
gains/(losses)||In|period|(62,900)|110,018| |Closing|Balance|||28,437|91,337| ## ## ## ## |19.|ACCOMMODATION
M|AN|AGED
BYOTHERS||| |---|---|---|---|---|---| |||||2020|2019| ||General needs housing|units||30|30| |20.|ULTIMATE CONTROLLING||PARTY|||