2023-03-31-accounts

CONTENTS	PAGE
Society information
The report ofthe executive committee
Independent auditor's report to the members
Statement ofComprehensive Income	10
Statement of Financial Position
Notes to the financial statements
The following pages do not form part ofthe financial statements
Detailed hostel property revenue account	21

Executive	Committee			Mr T Milburn	Mr T Milburn
				Mrs M Linstead		(Appointed	1November	2022)
				Mrs CWilson		(Appointed	16August 2023)
				Mrs N Scott		(Appointed	16August 2023)
				Mrs M Smith		(Appointed	16August 2023)
Company	Secretary			Mr T Milburn
Company	Registration		Number	00766744
Charity Registration		Number		230050
Registered	office			Johnson House
				Hillcrest Avenue
				Hillcrest
				Whitehaven
				Cumbria
				CA28 6SU
Auditor				Saint & Co
				Chartered Accountants
				&Statutory	Auditor
				Sterling House
				Wavell Drive
				Rosehill
				Carlisle
				CA1 2SA
Bankers				CAF Bank
				25 Kings Hill	Avenue
				Kings Hill
				West Mailing
				Kent
				ME194JQ
Solicitors				Brockbanks Solicitors
				44 Duke Street
				Whitehaven
				Cumbria
				CA28 7NP

	VFM Metrics		2022/23	2021/22	Target 23/24
Reinvestment %			0.09o	0.0%	1.0%o
New Supply Delivered %o
	Social Housing Units		0.09o	0.0%	0.09o
	Non-Social Housing	Units	0.0%	0.09o	0.09o
Gearing	9o		(38.22)%	(34.94)%	0.09o
EBITDA	MRI Interest Cover 9o		N/A	N/A	N/A
Headline	Social Housing Cost per Unit		f10,903	f10,262	f9,000
Operating Margin%
	Social Housing Lettings only		(0.13)%	(10.40)%o	10.0%
	Overall		0.05%	(9.61)9o	10.09o
Return on Capital Employed			(0.02)9o	(1.54)9o	2.0%o

				2023	2022
			Note	6	6
TURNOVER				231,089	202,551
Operating Costs				(231,375)	(222,871)
OPERATING SURPLUS/(DEFICIT)				(286)	(20,320)
Interest receivable	and Other Income	10		1,617	235
SURPLUS/(DEFICIT)	ON ORDINARY ACTIVITIES FOR		THE
YEAR				1.331	(20,085)
Revenue Reserve Brought Forward				1,158,921	1,179,006
Revenue Reserve Carried Forward				1,160,252	1,158,921

					2023		2022
				Note	E
FIXEDASSETS
Tangible fixed assets —housing
properties						921,794		949,300
Tangible fixed assets-		other				46,056		42,577
						967,850		991,877
CURRENT ASSETS
Stocks				12	1,296		1,302
Debtors				13	5,062		6,554
Investments				14	175,011		173,650
Cash at bank and	in hand				177,267		158,072
					358,636		339,578
CREDITORS: Amounts		falling due
within one year				ls	(16,484)		(15,610)
NET CURRENT A55ETS						342,152		323,968
Deferred income	net of		amortisation
falling due within	more		than one year	16		(134,750)		(141,924)
NET ASSETS						1,175,252		1,173,921
CAPITAL AND RESERVES
Income and expenditure			account	17		1,175,252		1,173,921
TOTAL CAPITAL AND RESERVES						1,175,252		1,173,921

					Units in Management	Units in Management
					2023	2022
Hostel Accommodation
Number of Bed Spaces					19	19
ET OPERATING	(DEFICIT)/SURPLUS
The net operating (deficit)/surplus			is stated after charging:
					2023	2022
					f	f
Depreciation	oftangible	fixed assets			35,276	34,284
(Gain)/loss on disposal		oftangible	fixed assets		393	848
Fees payable	for the audit ofthe financial statements				3,200	3,200
Fees payable	to the auditor for other			services	1,702	1,752
Operating lease payments recognised				as an expense	126
PARTICULARS	OF EMPLOYEES
The aggregate	payroll costs ofthe above were:
					2023	2022
					f	E
Wages and salaries					79,983	82,038
Social security	costs
Employers contributions		to pension	plans		1,063	1,061
					81,046	83,099

		2023	2022
Management	and Administration	1	1
Hostel Staff		6	7
			8

INTEREST	RECEIVABLE	AND OTHER INCOME
			2023	2022
			E	E
Bank Interest			1,617	235
Donations	and Sundry	Income	200
			1,817	235

		Fixtures,
	Freehold	Fittings gt
	Property	Equipment	Total
	E	E	E
Cost
At 1April 2021	1,375,269	129,016	1,504,285
Additions		11,942	11,942
Disposals		(778)	(778)
At 31March 2022	1,375,269	140,180	1,515,449
Depreciation
At 1April 2021	425,969	86,439	512,408
Charge for the year	27,506	7,770	35,276
Released on disposal		(85)	(85)
At 31March 2022	453,475	94,124	547,599
Carrying amount
At 31March 2023	921,794	46,056	967,850
At 31March 2022	949,300	42,577	991,887

12.	STOCKS
									2023	2022
									E	E
	Catering stock								1,296	1,302
13.	DEBTORS
									2023	2022
									6	6
	Trade debtors
	Prepayments								5,062	6,554
									5,062	6,554
14.	INVESTMENTS
									2023	2022
									E	E
	Cumberland		Building		Society Investment				90,011	88,650
	Barelays Investment				Account				85,000	85,000
									175,011	173,650
15.	CREDITORS: Amounts				falling due within one year
							2023		2022
								6		6
	Trade creditors							1,006		768
	Deferred	Capital Grants						7,174		7,174
	Other creditors			including		taxation and social security:
	PATE and	social		security
	Pension					102			102
	Accruals					8,202			7,566
								8,304		7,668
								16,484		15,610
16.	CREDITORS: Amounts				falling due within more than		one	year
									2023	2022
									6	6
	Deferred	Capital Grants							134,750	141,924
									134,750	141,924

		At 1April	Movement	At 31March
		2022		2023
		f	E	E
Future	Cyclical Repairs Reserve	15,000		15,000
General	Reserve	1,158,921	1,331	1,160,252
Total		1,173,921	1,331	1,175,252

			2023	2022
			f	8
Within	one	year	134
			134

					2023	2022
Income
Residents' Charges					249,333	230,839
Housing Benefit						1,673
Losses arising from vacancies and absences					(25,618)	(37,135)
Turnover —Net Income from Residents'				Charges	223,715	195,377
Donations and sundry income					200
Amortisation ofdeferred	income				7,174	7,174
Total Turnover					231,089	202,551
Expenditure
Management Expenses:
Salaries					7,500	7,320
Insurance					4,431	3,619
Telephone					2,059	1,288
Membership Fee Abbeyfield		Society			6,127	6,127
Auditors Remuneration					4,902	4,952
Stationery, Postage and Advertising					1,104	632
Bank Charges					144	192
Conferences and Training					402
					26,669	24,130
Repairs and Maintenance:
Day-to-day Repairs and Refurbishment					20,212	22,880
Service Costs:
Care and Catering:
Employee Costs					73,546	75,779
Food Costs and Cleaning		Materials			36,296	34,386
Garden Maintenance					3,459	2,897
Council Tax					3,635	2,959
Water Rates					3,853	4,039
Heating and Lighting					19,858	14,907
Careline Monitoring					2,796	2,787
Sundry Expenses					5,382	2,976
Depreciation of Fixtures, Fittings			and Equipment		7,770	6,779
Depreciation of Buildings					27,506	27,505
(Gain)/loss on disposal oftangible				fixed assets	393	847
					184,494	175,861
Operating Costs					231,375	222,871
Hostel Property Revenue	Operating		Surplus/(Deficit)		(286)	(20,320)