2023-03-31-accounts

THE FENCE TRUST FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023

Contents
			Page
Registered Social Housing Provider		Information
Report ofthe Trustees
Independent Auditor's	Report
Statement of Comprehensive Income			10
Statement of Financial	Position
Notes to the Financial	Statements		12

Registered	Charity number		237291
Regulator	ofSocial Housing	registration	A3989
number

Trustees of	the Charity
Manager
Registered	office
Auditor
Solicitor
Bankers

Cllr.Mr. N. P.	Cllr.Mr. N. P.	Mannion	Mannion	(Chair)
Mis. D. Bentley			Smith
Mr. P. Tyrrell
Mr. E. Hunter
Ms. F.Wilson
2 Sherwood	Road
Macclesfield
Cheshire
SK11 7RR
Harts Ltd
Westminster		House
10Westminster			Rd
Macclesfield
Cheshire
SK101BX
Wains Solicitors
39 —43 Churchside
Macclesfield
Cheshire
SK101HW
Natwest Bank
2 Chestergate
Macclesfield
Cheshire
SK11BBS

STATE	MENT OF COMPR	EHEN	SIVE INCOME (Including Inco	me and	Expenditure	Account)
					2023	2022
					Contfnufng	Continuing
					Operations	Operatfons
					TOTAL	TOTAL
						6
Turnover				2	63,075	63,025
Donations	received
Administrative expenditure				2	(52,490)	(38,727)
Operating	surplus I(deficit)				10,585	24,298
interest receivable and similar income				4	189	5
Interest payable and similar charges				4	(1,511)	(2,387)
Surplus I	(deficit) on ordinary	activities for the year before tax			9,263	21,916
Tax on surplus / (deficit) on ordinary			activities
Surplus I	(deficit) for the year	after	tax		9,263	21,916
Total comprehensive income		for the year			9,263	21,916

						2023	2022
					~e	6
Fixed assets
Tangible fixed assets					7	625.418	625,418
Improvements to property					7	56,434	67,588
						681,852	693,006
Current assets
Debtors					8	6,834	14,665
Cash at bank and in		hand				59,756	45,962
						66,590	60,627
Creditors: amounts		falling		due within one year	9	(15,328)	(18,344)
Net current assets	/	(liabilities)				51,262	42,283
Total assets less current				liabilities		733,114	735,289
Creditors: amounts		falling		due after mors than one year	10	(2,070)	(13,508)
Total net assets I(liabilities)
						731,044	721,781
Reserves
Income and expenditure			reserve		15	253,933	244,670
Endowment reserve					15	477,111	477,111
Total Reserves
						731,044	721,781

ulars ofturnov	er	and	admin	istr		ative expenditu	re from social	housing lettings
								2023	2022
								Total	Total
Turnover
Rent receivable	net	of	identNable			service charges		63,075	63,025
Donations received
Turnover from	social		housing		lettings			63,075	63,025
Administrative	expenditure
Manager's remuneration								6,500	5,447
Routine maintenance								10,928	11,661
Garden upkeep								2,130	2,836
Council tax
Electricity								244	282
Insurance								3,212	4,469
Legal &Professional
Auditors fee								2,586	2,310
Subscriptions								521	506
Training
Print, post &stationery								214	61
Management fees
Bad debts								15,000
Depreciation of	housing		properties					11,155	11,155
Administrative	expenditure			on		social housing	lettings	52,490	38,727
Operating surplus		I(deficit)		on		social housing	lettings	10,585	24,298
Void losses

3	Accommodation owned and	Accommodation owned and	Accommodation owned and	in management	in management
						Number	of	Number of
						units at		units at
						31~March		31~March
						2023		2022
	Completed	units:
	General	needs housing
	Housing	for older people
	Commercial property
4	Interest and other finance		income and charges
	a) Interest	receivable and similar income
						2023		2022
	Bank interest receivable						189
	b) Interest	payable and similar charges
						2023		2022
							8
	Bank loans	and overdrafts					1,511	2,387
5	Surplus / (deficit) on ordinary			activities
	Surplus / (deficit) on ordinary		activities		is stated after charging	/ (crediting):
						2023		2022
							8
	Auditor's remuneration						2,586	2,310
	Depreciation	oftangible fixed	assets			11,155		11,155
	Impairment	losses current asset investments
						13,741		13,465

	Housing	Housing
	properties		Improvements to
	for letting including non-		property	Total
	social housing
	letdngs
Cost
At1"April 2022		625,418	111,546	736,964
Additions
At31"March 2023		625,418	111,546	736,964
Depreciation:
At 1"April 2022			43,957	43,957
Charge for year			11,155	11,155
At31"March 2023
			55,112	55,112
Net book value:
At31"March 2023		625,418	56,434	681,852
At31"March 2022		625,418	67,589	693,007

	The net book	The net book	value of land and buildings	value of land and buildings	value of land and buildings	comprised:
							2023	2022
	Land and buildings:
	Freehold						681,852	693,006
8	Debtors
							2023	2022
							6	F
	Trade debtors						5,218	12,076
	Other debtors						801	801
	Prepayments		and accrued		income		815	1,788
							6,834	14,665
9	Creditors:	amounts		falling due within		one year
							2023	2022
								6
	Bank loans	and overdrafts					8,250	8,250
	Rents paid	in advance					2,029	2,029
	Stanley and	Brocklehurst			Almshouses			3,154
	Other creditors						2,601	2,601
	Accruals and deferred			income			2,448	2,310
							15,328	18,344

		2023	2022
Bank loans and overdrafts		2,070	13,508
Stanley and Brocklehurst	Almshouses
		2,070	13,508

Reserves
a) Total reserves
							2023	2022
							6	F
Income &expenditure	reserve			brought	forward		244,670	222,754
Endowment reserve brought			forward				477,111	477,111
Balance brought forward							721,781	699,865
Income and expenditure		surplus		I(deficit) at year end			9,263	21,916
Total reserves carried forward							731,044	721,781
b) Shown as
							2023	2022
							8	6
Income and expenditure		reserve (unrestricted				reserve)	253,933	244,670
Endowment reserve (restricted				reserve)			477,111	477,111
Balance cerned forward							731,044	721,781