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|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||
|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|