| VALUE F | VALUE F | OR M | OR M | ONEY | ONEY | ONEY | (VFM) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Each year | the | Charity | uses a | range | of data | to measure | VFM | progress against the housing sector, |
The | ||||||||
| results | help | influence | investment | decisions | and | provide | the | regulators and other stakeholders |
with | ||||||||
| information | on | the | progress | of | the | Charity, | whilst | also | ensuring | compliance with the regulatory |
VFM | ||||||
| standard. | The | metrics | have been | compared | to the | Housemark | sector scorecard published by the National |
||||||||||
| Housing | Federation. | ||||||||||||||||
| Metric | 2021 | 2020 | Housem ark | Commentary | |||||||||||||
| Scorecard | |||||||||||||||||
| he Charity has 15Almshouses in |
|||||||||||||||||
| New supply | management. This remains as per |
||||||||||||||||
| delivered | 0% | 0% | 0.90% | he previous year, with no new supply |
|||||||||||||
| fsocial housing or new supply of |
|||||||||||||||||
| non-social housin . |
|||||||||||||||||
| he Charity has no borrowings | |||||||||||||||||
| Gearin | 15.40 | % | 12.00 | % | 33.82% | corn ared to industr standard |
|||||||||||
| he Charity has no borrowings and |
|||||||||||||||||
| EBITDA | MRI | N/A | N/A | 215,95% | herefore no interest in the ear. |
||||||||||||
| Expenditure from social housing was |
|||||||||||||||||
| Social Housing | down in the year due major |
||||||||||||||||
| Cost Per | Unit | E1,337 | E5,712 | F3,891 | refurbishment corn letion in 2020. |
||||||||||||
| s a Charity, The Hospital ofSt |
|||||||||||||||||
| Operating | Margin | 39.09% | (22.23)% | 23.54% | homas receives a significant level |
of | |||||||||||
| Overall | income from its Investments, which |
||||||||||||||||
| produced 220,121 in 2021, thus | |||||||||||||||||
| Social Housing | impacting the operating margin |
||||||||||||||||
| Lettings | only | 5.93% | (25.64)% | 25.49% | overall. This income also underwrites | ||||||||||||
| part ofthe charity's operating costs. |
|||||||||||||||||
| ignificantly higher maintenance costs |
|||||||||||||||||
| in 2020 resulted in a lower margin |
|||||||||||||||||
| compared to industry standard. This |
|||||||||||||||||
| has recovered in 2021 but remains |
lo | ||||||||||||||||
| due to the low number of units in |
|||||||||||||||||
| mana ement. |
|||||||||||||||||
| his is particularly high due to the |
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| ROCE | 6.48% | (1.20)% | 3.10% | minimal liabilities ofthe charity with |
a | ||||||||||||
| ositive o eratin sur lus in the ear |
|||||||||||||||||
| Major reinvestment occurred in 2020. |
|||||||||||||||||
| Reinvestment | 0.83% | 5.77% | 5.10% | Refurbishment works were maintained |
|||||||||||||
| at a lower level in 2021 in accordance |
|||||||||||||||||
| ith the charity's component |
|||||||||||||||||
| re lacement strate | |||||||||||||||||
| These key | performance | indicators | reflect the results | for the | year | ended 31st December 2021 in comparison | |||||||||||
| to industry | standard, | demonstrating | strong | reserves, | no borrowings, | and the ability to meet its charitable |
|||||||||||
| objectives | despite | an | operating | deficit on | the | year, | largely | due | to | focusing on delivering hight standard |
|||||||
| accommodation | to | residents. |
| 2021 | 2020 | ||||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||||
| funds | fund | funds | funds | ||||
| Notes | E | F | |||||
| INCOME AND ENDOWMENTS | FROM | ||||||
| Donations and legacies |
12,306 | ||||||
| Charitable activities |
|||||||
| Housing Activities |
60,680 | 60,680 | 54,382 | ||||
| Investment income |
20,121 | 20,121 | 23,812 | ||||
| Total | 80,801 | 80,801 | 90,500 | ||||
| EXPENDITURE ON | |||||||
| Charitable activities |
|||||||
| Housing Activities |
56,983 | 1,389 | 58,372 | 68,326 | |||
| Net gains/(losses) on |
investments | 58,261 | 58,261 | ~38,740) | |||
| NET INCOME/(EXPENDITURE) | 82,079 | (1,389) | 80,690 | (16,566) | |||
| RECONCILIATION OF FUNDS |
|||||||
| Total funds brought | forward | 1,086,719 | 78,450 | 1,165,169 | 1,181,735 | ||
| TOTAL FUNDS CARRIED FORWARD | 1,168,798 | 77,061 | 1,245,859 | 1,165,169 |
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| funds | fund | funds | funds | ||
| Notes | 'E | ||||
| FIX ED ASSETS | |||||
| Tangible assets | 11 | 408,254 | 77,061 | 485,315 | 493,798 |
| Investments | 12 | 685,502 | 685,502 | 608,442 | |
| 1,093,756 | 77,061 | 1,170,817 | 1,102,240 | ||
| CURRENT ASSETS | |||||
| Debtors | 13 | 4,392 | 4,392 | 7,539 | |
| Cash at bank | 74,440 | 74,440 | 58,960 | ||
| 78,832 | 78,832 | 66,499 | |||
| CREDITORS | |||||
| Amounts falling due within one year |
14 | (3,790) | (3,790) | (3,570) | |
| NET CURRENT ASSETS | 75,042 | 75,042 | 62,929 | ||
| TOTAL ASSETS LESSCURRENT | |||||
| LIABILITIES | 1,168,798 | 77,061 | 1,245,859 | 1,165,169 | |
| NET ASSETS | 1,168,798 | 77,061 | 1,245,859 | 1,165,169 | |
| FUNDS | 15 | ||||
| Unrestricted funds |
1,168,798 | 1,086,719 | |||
| Restricted funds | 77,061 | 78,450 | |||
| TOTAL FUNDS | 1,245,859 | 1,165,169 |
| INVESTME | NT INCOME | ||
|---|---|---|---|
| 2021 | 2020 | ||
| Investment | income | 20,119 | 23,745 |
| Deposit account interest | 2 | 67 | |
| 20,121 | 23,812 |
| 3. | INCOME FROM CHARITABLE | INCOME FROM CHARITABLE | INCOME FROM CHARITABLE | ACTIVITIES | |||
|---|---|---|---|---|---|---|---|
| 2021 | 2020 | ||||||
| E | |||||||
| Gross maintenance Losses from voids |
contributions | from residents | 61,380 ~580) |
61,380 ~6,998) |
|||
| 60,680 | 54,382 | ||||||
| 4. | CHARITABLE ACTIVITIES COSTS | ||||||
| Direct | Support | ||||||
| Costs (see | costs (see | ||||||
| note 5) | note 6) | Totals | |||||
| E | F | ||||||
| Housing | Activities | 45,019 | 13,353 | 58,372 | |||
| 5. | DIRECT COSTS OF | CHARITABLE ACTIVITIES | |||||
| 2021 | 2020 | ||||||
| E | |||||||
| Rates and water | 3,307 | 7,547 | |||||
| Insurance | 1,780 | 1,729 | |||||
| Light and heat | 1,161 | 1,227 | |||||
| Repairs | and maintenance | 15,230 | 21,366 | ||||
| Garden | maintenance | 4,489 | 3,867 | ||||
| Warden | call system | 1,289 | 1,378 | ||||
| Christmas gifts |
400 | 400 | |||||
| Depreciation | 16,073 | 15,658 | |||||
| Loss on | sale ofassets | 1,290 | 1,853 | ||||
| 45,019 | 55,025 | ||||||
| 6. | SUPPORT COSTS | ||||||
| Governance | |||||||
| Management | costs | Totals | |||||
| E | |||||||
| Housing | Activities | 11,337 | 2,016 | 13,353 |
| Support cost | s, inc | lu | ded in the a |
bove, are as follows: | ||
|---|---|---|---|---|---|---|
| 2021 | 2020 | |||||
| Housing | Total | |||||
| Activities | activities | |||||
| Clerk's fees | 9,000 | 8,500 | ||||
| Charity protection | insurance | 407 | 408 | |||
| Postage, stationery, | advertising | and | ||||
| telephone | 1,268 | 844 | ||||
| Sundries | 108 | 871 | ||||
| Subscriptions | 554 | 758 | ||||
| Independent | Examination | 2,016 | 1,920 | |||
| 13,353 | 13,301 |
| There were no trustees' expenses paid for the year ended 31 December 2020. |
There were no trustees' expenses paid for the year ended 31 December 2020. |
31 December 2 | 021 nor for t | he year ended |
|---|---|---|---|---|
| COMPARATIVES FOR THE STATEMENT OF FINANCIAL | ACTIVITIES | |||
| Unrestricted | Restricted | Total | ||
| funds | fund | funds | ||
| F | ||||
| INCOME AND ENDOWMENTS | FROM | |||
| Donations and legacies |
12,306 | 12,306 | ||
| Charitable activities |
||||
| Housing Activities |
54,382 | 54,382 | ||
| Investment income |
23,812 | 23,812 | ||
| Total | 90,500 | 90,500 | ||
| EXPENDITURE ON | ||||
| Charitable activities |
||||
| Housing Activities |
66,937 | 1,389 | 68,326 | |
| Net gains/(losses) on investments |
~38,740) | ~38,740) | ||
| NET INCOME/(EXPENDITURE) | (15,177) | (1,389) | (16,566) |
| 8. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL | COMPARATIVES FOR THE STATEMENT OF FINANCIAL | COMPARATIVES FOR THE STATEMENT OF FINANCIAL | COMPARATIVES FOR THE STATEMENT OF FINANCIAL | COMPARATIVES FOR THE STATEMENT OF FINANCIAL | ACTIVITIES | ACTIVITIES | - continued | - continued | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | |||||||||
| funds | fund | funds | |||||||||
| E | |||||||||||
| RECONCILIATION OF FUNDS |
|||||||||||
| Total funds brought forward |
|||||||||||
| As previously reported |
1,101,896 | 1,101,896 | |||||||||
| Prior year adjustment | 79,839 | 79,839 | |||||||||
| As restated | 1,101,896 | 79,839 | 1,181,735 | ||||||||
| TOTAL FUNDS CARRIED FORWARD | 1,086,719 | 78,450 | 1,165,169 | ||||||||
| 9. | SOCIAL HOUSING ACTIVITIES | ||||||||||
| 2021 | 2020 | ||||||||||
| K | E | ||||||||||
| Turnover from Social Housing Operating costs ofSocial Housing |
60,680 ~57,054) |
54,382 ~66,475) |
|||||||||
| Operating surplus and surplus on |
Social Housing | activities | 3,596 | ~12,093) | |||||||
| 10. | SOCIAL HOUSING GRANT |
||||||||||
| The total Social Housing Grant received for The Hospital ofSt Thomas 31st December 2021 amounted to f.126,170(2020:2126,170).. |
the Apostle | in | Doncaster as at | ||||||||
| The full Capital Grant would only become repayable |
if the | Almshouses | were disposed | of | and the grant | ||||||
| was not recycled. | |||||||||||
| Aggregate amount received |
|||||||||||
| At 31st December 2021 and 31st December 2020 | 126,170 | ||||||||||
| Released to Statement of Financial Activities At 31st December 2021 and 31st December 2020 |
~126,170) | ||||||||||
| Social Housing Grant Carried forward |
| 11. | TANGIBLE FIXEDASSETS | |||
|---|---|---|---|---|
| Fixtures | ||||
| Housing | and | |||
| properties | fittings | Totals | ||
| E | ||||
| COST | ||||
| At 1 January 2021 | 686,612 | 8,362 | 694,974 | |
| Additions Disposals |
8,880 ~4,836) |
8,880 ~4,836) |
||
| At 31 December 2021 | 690,656 | 8,362 | 699,018 | |
| DEPRECIATION | ||||
| At 1 Januf)ry 2021 | 194,488 | 6,688 | 201,176 | |
| Charge for year Eliminated on disposal |
15,237 ~3,546) |
836 | 16,073 ~3,546) |
|
| At 31 December 2021 | 206,179 | 7,524 | 213,703 | |
| NET BOOK VALUE | ||||
| At 31 December 2021 | 484,477 | 838 | 485,315 | |
| At 31 December 2020 | 492,124 | 1,674 | 493,798 | |
| 12. | FIXEDASSET INVESTMENTS |
| Listed | ||||
|---|---|---|---|---|
| investments | ||||
| MARKET VALUE | ||||
| At 1 January 2021 | 608,442 | |||
| Additions | 18,799 | |||
| Revaluations | 58,261 | |||
| At 31 December | 2021 | 685,502 | ||
| NET BOOK VALUE | ||||
| At 31 December | 2021 | 685,502 | ||
| At 31 December | 2020 | 608,442 | ||
| There were no investment | assets outside the UK. | |||
| Cost or valuation | at 31 December 2021 is represented | by: | ||
| Listed | ||||
| investments | ||||
| Valuation | 299,071 | |||
| Cost | 386,431 | |||
| 685,502 |
| 13. | DEBTORS: AMOUNTS | DEBTORS: AMOUNTS | FALLING DUE WITHIN ONE YEAR | FALLING DUE WITHIN ONE YEAR | FALLING DUE WITHIN ONE YEAR | FALLING DUE WITHIN ONE YEAR | FALLING DUE WITHIN ONE YEAR | ||
|---|---|---|---|---|---|---|---|---|---|
| 2021 | 2020 | ||||||||
| E | |||||||||
| Contributions in arrears |
3,269 | 3,899 | |||||||
| Other debtors | 1,253 | ||||||||
| Prepayments and accrued |
income | 1 123 | 2,387 | ||||||
| 4,392 | 7,539 | ||||||||
| 14. | CREDITORS: AMOUNTS | FALLING DUE WITHIN ONE YEAR | |||||||
| 2021 | 2020 | ||||||||
| Other creditors | 3,790 | 3,570 | |||||||
| 15. | MOVEMENT IN FUNDS |
||||||||
| Net | Transfers | ||||||||
| movement | between | At | |||||||
| At 1.1.21 | in funds | funds | 31.12.21 | ||||||
| E | f. | ||||||||
| Unrestricted funds |
|||||||||
| General fund |
67,406 | 11,276 | 1,853 | 80,535 | |||||
| Property & Endowment |
fund | 562,013 | 410 | (1,853) | 560,570 | ||||
| Extraordinary Repairs fund |
210,403 | 12131 | 222,534 | ||||||
| Cyclical Repairs 8 Maintenance | fund | 6,088 | 1 | 6,089 | |||||
| Investment revaluation |
fund | 240,809 | 58,261 | 299,070 | |||||
| 1,086,719 | 82,079 | 1,168,798 | |||||||
| Restricted funds | |||||||||
| Housing Property fund |
78,450 | (1,389) | 77,061 | ||||||
| TOTAL FUNDS | 1,165,169 | 80,690 | 1,245,859 | ||||||
| Net movement in funds, |
included | in the | above are as follows: | ||||||
| Incoming | Resources | Gains and | Movement | ||||||
| resources | expended | losses | in funds | ||||||
| Unrestricted funds |
|||||||||
| General fund |
62,851 | (51,575) | 11,276 | ||||||
| Property 8 Endowment |
fund | 6,668 | (6,258) | 410 | |||||
| Extraordinary Repairs fund |
11,281 | 850 | 12,131 | ||||||
| Cyclical Repairs 8 Maintenance | fund | 1 | 1 | ||||||
| Investment revaluation |
fund | 58,261 | 58,261 | ||||||
| 80,801 | (56,983) | 58,261 | 82,079 | ||||||
| Restricted funds | |||||||||
| Housing Property fund |
(1,389) | (1,389) | |||||||
| TOTAL FUNDS | 80,801 | (58,372) | 58,261 | 80,690 |
| Compar | atives | f | or movem | ent in funds |
||||
|---|---|---|---|---|---|---|---|---|
| Prior | Net | Transfers | ||||||
| year | movement | between | At | |||||
| At 1.1.20 | adjustment | in funds | funds | 31;12.20 | ||||
| Unrestricted | funds | |||||||
| General | fund | 85,307 | 15,125 | (33,026) | 67,406 | |||
| Property | 8 Endowment | |||||||
| fund | 535,133 | (5,296) | 32,176 | 562,013 | ||||
| Extraordinary | Repairs | |||||||
| fund | 195,863 | 13,690 | 850 | 210,403 | ||||
| Cyclical | Repairs | & | ||||||
| Maintenance | fund | 6,044 | 44 | 6,088 | ||||
| Investment revaluation |
||||||||
| fund | 279,549 | ~38,740) | 240,809 | |||||
| 1,101,896 | (15,177) | 1,086,719 | ||||||
| Restricted funds | ||||||||
| Housing | Property | fund | 79,839 | (1,389) | 78,450 | |||
| TOTAL | FUNDS | 1,101,896 | 79,839 | ~16,566) | - | 1,165,169 |
| Compara | tive net move |
ment in f |
unds, incl |
uded in the above |
are as follows: | ||
|---|---|---|---|---|---|---|---|
| Incoming | Resources | Gains and | Movement | ||||
| resources | expended | losses | in funds | ||||
| E | E | F | |||||
| Unrestricted funds |
|||||||
| General | fund | 68,629 | (53,504) | 15,125 | |||
| Property | 8 Endowment | fund | 8,137 | (13,433) | (5,296) | ||
| Extraordinary Repairs |
fund | 13,690 | 13,690 | ||||
| Cyclical | Repairs 8 Maintenance | fund | 44 | 44 | |||
| Investment revaluation |
fund | ~38,740) | ~38,740) | ||||
| Restricted funds | 90,500 | (66,937) | (38,740) | (15,177) | |||
| Housing | Property fund | (1,389) | (1,389) | ||||
| TOTAL | FUNDS | 90,500 | ~68,326) | ~38740) | ~1,6,566) |
| 2021 | 2020 | ||||||
|---|---|---|---|---|---|---|---|
| E | |||||||
| INCOME AND ENDOWMENTS | |||||||
| Donations and legacies |
|||||||
| Donations | 12,306 | ||||||
| Investment income |
|||||||
| Investment income |
20,119 | 23,745 | |||||
| Deposit account interest | 2 | 67 | |||||
| 20,121 | 23,812 | ||||||
| Charitable activities |
|||||||
| Housing activities |
61,360 | 54,382 | |||||
| Voids | (680) | ||||||
| 60,680 | 54,382 | ||||||
| Total incoming resources |
80,801 | 90,500 | |||||
| EXPENDITURE | |||||||
| Charitable activities |
|||||||
| Rates and water | 3,307 | 7,547 | |||||
| Insurance | 1,780 | 1,729 | |||||
| Light and heat | 1,161 | 1,227 | |||||
| Repairs and maintenance | 15,230 | 21,366 | |||||
| Garden maintenance | 4,489 | 3,867 | |||||
| Warden call system |
1,289 | 1,378 | |||||
| Christmas gifts |
400 | 400 | |||||
| Depreciation of housing |
properties | 15,237 | 14,822 | ||||
| Fixtures and fittings | 836 | 836 | |||||
| Loss on disposal of | housing | components | 1,290 | 1,853 | |||
| 45,019 | 55,025 | ||||||
| Support costs | |||||||
| Management | |||||||
| Clerk's fees | 9,000 | 8,500 | |||||
| Charity protection | insurance | 407 | 408 | ||||
| Postage, stationery, | advertising | and | |||||
| telephone | 1,268 | 844 | |||||
| Sundries | 108 | 871 | |||||
| Subscriptions | 554 | 758 | |||||
| 11,337 | 11,381 |
| 2021 | 2020 | ||
|---|---|---|---|
| Management | |||
| Governance | costs | ||
| Independent | Examination | 2,016 | 1,920 |
| Total resources | expended | 58,372 | 68,326 |
| Net income | 22,429 | 22,174 |