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|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|
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|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|||||
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||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|
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|||||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|
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||||||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|
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||||||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|
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|||2023|2022|
|---|---|---|---|
|Management|and Administration|1|1|
|Hostel Staff||6|7|
||||8|
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|INTEREST|RECEIVABLE|AND OTHER INCOME|||
|---|---|---|---|---|
||||2023|2022|
||||E|E|
|Bank Interest|||1,617|235|
|Donations|and Sundry|Income|200||
||||1,817|235|
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|||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|
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|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|
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|||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|
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||||2023|2022|
|---|---|---|---|---|
||||f|8|
|Within|one|year|134||
||||134||
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||||||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)|