##
|Charity number|Charity number||238044||||||
|---|---|---|---|---|---|---|---|---|
|Regulator ofSocial Housing|||A2334||||||
|registration|number||||||||
|Trustees|||Dr M Kimberley
resigned|||20/04/2023|||
||||Mr M Fairbanks-Smith||||||
||||CJ Fairbanks-Smith|—appointed|||01/07/2022||
||||Mr C Penn (Chair)||||||
||||Lady Penn - resigned||01/07/2022||||
||||Mr R Penn||||||
||||Rev S Reynolds-Winn||—appointed|||09/11/2021|
||||Mr J Stanley —appointed|||01/01/2021|||
|Clerk to the|trustees and managing|agent|The Trust Partnership||||||
|Registered office|||6 Trull Farm Buildings||||||
||||Tetbury||||||
||||Gloucestershire||||||
||||GL8 8SQ||||||
|Independent|examiner||Dunk icy's||||||
||||Woodlands
Grange||||||
||||Woodlands
Bradley||||||
||||Stoke Bristol||||||
||||BS324JY||||||
|Bankers|||Barclays Bank Pic (to||October 2022)||||
||||1Churchill
Place||||||
||||Canary Wharf||||||
||||London||||||
||||E14SHP||||||
||||Unity Trust Bank (from|||July 2022)|||
||||PO Box 7193||||||
||||Planetary
Road||||||
||||Will en hall||||||
||||WV1 9DG||||||
|Investment|Managers||Sarasin and Partners||LLP||||
||||Juxon House||||||
||||100St. Paul's Churchyard||||||
||||London||||||
||||EC4M 8BU||||||
##
|||||Page|
|---|---|---|---|---|
|Report ofthe trustees||||1-7|
|Report ofthe independent||examiner|||
|Statement offinancial|activities|||8-9|
|Balance sheet||||10|
|Statement of cash flows|||||
|Notes to the accounts||||12-21|
|Detailed statement
of|financial||activities|22|
##
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##
||||||2023|2022|
|---|---|---|---|---|---|---|
|Metric|6a —Operating|margin|(social housing|lettings) %|-43%|33%|
|Metric|6b —Operating|margin|(overall) %||-27%|39%|
|||||||||2023|2022|
|---|---|---|---|---|---|---|---|---|---|
|Metric|7|—Return|on|Capital|Employed|(ROCE)|%|-3%|4%|
##
##
|Chnstg ~(9993,2923 1999 GMT)||
|---|---|
|Mr C Penn|Mr M Fairbanks-Smith|
|Trustee|Trustee|
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##
##
||||Unrestricted|Designated|Total|Total|
|---|---|---|---|---|---|---|
|||Notes|Funds|Funds|2023|2022|
|Income &expenditure|||||||
|Income from:|||||||
|Maintenance
Charges Receivable|||88,814||88,814|83,806|
|Investment
Income|||12,140||12,140|10,895|
|Interest Received|||828||828|52|
|Other income|||11,080||11,080|8,680|
|Total|||112,862||112,862|103,433|
|Expenditure
on:|||||||
|Activities
in furtherance|of||||||
|the charity's objectives||12|106,313|21,127|127,440|56,256|
|Tota I Expenditure|||106,313|21,127|127,440|56,256|
|Other recognised
losses/(gains)|||30,507||30,507|(2,455)|
|Transfers between
funds|||(29,988)|29,988|||
|Net (expenditure)/income|||||||
|and net movements
in|funds||(53,946)|8,861|(45,085)|49,632|
|Reconciliation
offunds||10|||||
|Fund balances brought|forward at||||||
|31.03.2022|||427,151|217,001|644,152|594,520|
|Fund balances carried forward at|||||||
|31.03.2023|||373,205|225,862|599,067|644,152|
##
##
|||||Unrestricted|Designated|Total|
|---|---|---|---|---|---|---|
||||Notes|Funds|Funds|2022|
|Income &expenditure|||||||
|Income from:|||||||
|Maintenance
Charges|Receivable|||83,806||83,806|
|Investment
Income||||10,895||10,895|
|Interest Received||||52||52|
|Other income||||8,680||8,680|
|Total||||103,433||103,433|
|Expenditure
on:|||||||
|Activities
in furtherance||of|||||
|the charity's objectives|||12|56,256||56,256|
|Tota I Expenditure||||56,256||56,256|
|Other recognised
(gains)||||(2,455)||(2,455)|
|Transfers between
funds||||(29,087)|29,087||
|Net income|||||||
|and net movements|in funds|||20,545|29,087|49,632|
|Reconciliation
offunds|||10||||
|Fund balances brought||forward at|||||
|31.03.2021||||406,606|187,914|594,520|
|Fund balances carried forward at|||||||
|31.03.2022||||427,151|217,001|644,152|
##
|||Notes||2023||2022|
|---|---|---|---|---|---|---|
|Fixed Assets|||||||
|Tangible assets||||301,803||308,849|
|Current assets|||||||
|Debtors|||1,766||16,764||
|Investments|||572,354||573,448||
|Cash at bank and in hand|||18,740||53,045||
||||592,860||643,257||
|Current
liabilities|||||||
|Creditors|||43,881||47,559||
||||43,881||47,559||
|Net current|assets|||548,979||595,698|
|Long term creditor||||251,715||260,395|
|Total assets|less current liabilities|||599,067||644,152|
|Capital and|reserves|10|||||
|Unrestricted|funds|||373,205||427,151|
|Designated|funds|||225,862||217,001|
|||||599,067||644,152|
##
|||||2023||2022|
|---|---|---|---|---|---|---|
||||Note||||
|CASH FLOWS FROM|OPERATING ACTIVITIES:||||||
|Net cash provided by (used in) operating||activities|||(21,926)|50,001|
|Cash flows from investing
activities:|||||||
|Dividends
and interest from investments|||||12,968|10,947|
|(Increase)/decrease|in short term deposits|and|||||
|investments|||||||
|Purchase of property,|plant and equipment||||(4,614)||
|(Increase)/decrease|in short term deposits|and|||||
|investments|||||47,877|(50,063)|
|Net cash provided by (usedinJ investing
activities:|||||56,231|(39,116)|
|Change in cash and|cash equivalents
in the reporting||||||
|period|||||(34,305)|10,885|
|Cash and cash equivalents
at the beginning
ofthe|||||||
|reporting
period|||||53,045|42,160|
|Cash and cash equivalents
at the end ofthe reporting|||||||
|period|||||18,740|53,045|
##
##
##
##
##
##
|Using
component|costing|principles|principles|housing|housing|properties|properties|are divided|into components|into components|which|are|
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|depreciated
at the|following|annual|rates:||||||||||
|Component|||||||||Life (Years)|Depreciation|||
|Building structure,|roofing,|drainage,||roadways||and|footpaths||50||2.0%||
|Doors and windows|||||||||30||3.3%||
|Kitchens and Bathrooms|||||||||25||4.0%||
|Heating
Boilers|||||||||15||6.6%||
|Scheme equipment|is depreciated||at|varying|annual||rates|as follows:|||||
|Component|||||||||Life (Years)|Depreciation|||
|Security, heating
and aerials|||||||||20||5.0%||
|Warden
alarm|||||||||15||6.6%||
|Other shared areas|||||||||10||10.0%||
|Other scheme equipment|||||||||4||25.0%||
##
##
##
##
##
##
##
##
##
##
|||31.03.2023|31.03.2022|
|---|---|---|---|
|Amortisation|ofcapital grant|8,680|8,680|
|Other income||2,400||
|||11,080|8,680|
##
|||Freehold|housing|Fixtures|Total|
|---|---|---|---|---|---|
|||properties||and fittings|31.03.2023|
|Cost or revaluation||||||
|At 1April 2022|||544,184|8,332|552,516|
|Additions||||4,614|4,614|
||||544,184|12,946|557,130|
|Depreciation||||||
|At 1April 2022|||235,335|8,332|243,667|
|Charge
in year|||11,660||11,660|
||||246,995|8,332|255,327|
|Net cost/valuation|at|||||
|31.03.2023|||297,189|4,614|301,803|
|Net cost/valuation|at|||||
|31.03.2022|||308,849||308,849|
##
##
|||||||Charity||||
|---|---|---|---|---|---|---|---|---|---|
|||||||Investment|Short term|2023|2022|
|||||||Funds|deposit fund|Total|Total|
|Market value|31.03.2022|||||391,348|182,100|573,448|570,993|
|Purchases||||||||||
|Movements|in year|||||5,599|23,814|29,413||
|||||||396,947|205,914|602,861|570,993|
|Sales||||||||||
|Net investments||(losses)/gains||||(30,507)||(30,507)|2,455|
|Market value|31.03.2023|||||366,440|205,914|572,354|573,448|
|Cost 31.03.2023||||||307,200|205,914|513,114|301,603|
|Debtors||||||||||
|||||||||31.03.2023|31.03.2022|
|Maintenance|and service charge|||in arrears||||1,766|1,077|
|Other debtors|||||||||15,687|
|||||||||1,766|16,764|
|Creditors:|amounts||falling|due within one||year||||
|||||||||31.03.2023|31.03.2022|
|Amounts
falling||due within one||year:||||||
|Maintenance|and service charge|||received|in advance||||4,396|
|Creditors||||||||35,201|34,483|
|Deferred social||housing|grant income|||||8,680|8,680|
|||||||||43,881|47,559|
##
##
|||||31.03.2023|31.03.2022|
|---|---|---|---|---|---|
|Deferred social housing grant income||||251,715|260,395|
|eferred grant income||||||
|||||31.03.2023|31.03.2022|
|Grant received:||||||
|At 1April and 31March||||433,992|433,992|
|Amortisation
ofgrant||||||
|At 1April||||(164,917)|(156,237)|
|Charge for the year||||(8,680)|(8,680)|
|At 31March||||(173,597)|(164,917)|
|Net value ofgrant||||||
|At 1April||||269,075|277,755|
|At 31March||||260,395|269,075|
|Analysis of unamortised|grant|||||
|Amounts
due within one|year|||8,680|8,680|
|Amounts
due after more|than one year|||251,715|260,395|
|||||260,395|269,075|
|Grant income received|is deferred|and released|in line with the expected|lifespan ofthe property||
|improvements.||||||
##
##
|||2023|2022|
|---|---|---|---|
|Net Income for the reporting|period|||
|per the statement
offinancial|activities|(45,085)|49,632|
|Adjustments
for:||||
|Depreciation
charges||11,660|13,626|
|Amortisation
of capital grant||(8,680)|(8,680)|
|Losses/(gains)
on investments||30,507|(2,455)|
|Dividends
and interest from investments||(12,968)|(10,947)|
|Decrease/(increase)
in debtors||14,998|(14,854)|
|(Decrease)/increase
in creditors||(12,358)|23,679|
|Net cash used in operating
activities||(21,926)|50,001|
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##
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|||Unrestricted|Designated|31.03.2023|
|---|---|---|---|---|
|||funds|funds|Total|
|Tangible|fixed assets|294,335|7,468|301,803|
|Current|asset investments|353,960|218,394|572,354|
|Current|assets|20,506||20,506|
|Current|liabilities|(43,881)||(43,881)|
|Long term liabilities||(251,715)||(251,715)|
|||373,205|225,862|599,067|
|||Unrestricted|Designated|31.03.2022|
|---|---|---|---|---|
|||funds|funds|Total|
|Tangible|fixed assets|301,381|7,468|308,849|
|Current|asset investments|363,915|209,533|573,448|
|Current|assets|69,809||69,809|
|Current|liabilities|(47,559)||(47,559)|
|Long term liabilities||(260,395)||(260,395)|
|||427,151|217,001|644,152|
##
##
||Unrestricted|fund|Designated|funds|31.03.2023|
|---|---|---|---|---|---|
||Accumulated||Extraordinary|repairs|Total costs|
|Service charge||||||
|costs||11,020|||11,020|
|Routine||||||
|maintenance||34,811||21,127|55,938|
|Depreciation||11,660|||11,660|
|||57,491||21,127|78,618|
||Unrestricted|fund|Designated|funds|31.03.2022|
||Accumulated||Extraordinary|repairs|Total costs|
|Service charge||||||
|costs||11,530|||11,530|
|Routine||||||
|maintenance||16,223|||16,223|
|Depreciation||13,626|||13,626|
|||41,379|||41,379|
||Unrestricted|Designated|Designated|31.03.2023|
|---|---|---|---|---|
||funds|funds||Total|
||Accumulated|Extraordinary|repairs|costs|
|Almshouse|||||
|management|48,822|||48,822|
|Other costs|||||
||48,822|||48,822|
||Unrestricted|Designated||31.03.2022|
||funds|funds||Total|
||Accumulated|Extraordinary|repairs|costs|
|Almshouse|||||
|management|13,273|||13,273|
|Other costs|1,604|||1,604|
||14,877|||14,877|
##
||||Almshouse||
|---|---|---|---|---|
||||Accommodation|Total|
|Income &expenditure|||||
|Income from:|||||
|Rent receivable|||79,248|79,248|
|Service Charge income|||9,566|9,566|
|Investment
Income|||12,140|12,140|
|Interest Received|||828|828|
|Amortisation
ofcapital grant|||8,680|8,680|
|Other income|||2,400|2,400|
|Total|||112,862|112,862|
|Expenditure
on:|||||
|Activities
in furtherance||ofthe charity's|||
|objectives|||||
|Letting activities|||||
|Council Tax and Water rates|||3,258|3,258|
|Light and Heat|||9,885|9,885|
|Repairs and maintenance|||44,685|44,685|
|Cleaning
and gardening|||445|445|
|Insurance|||2,690|2,690|
|Depreciation|||11,660|11,660|
|Resident events|||43|43|
|Almshouse
management|||52,741|52,741|
|Sundry expenses|||2,475|2,475|
|Subscriptions|||448|448|
||||127,440|127,440|
|Other recognised|(losses)||(30,507)|(30,507)|
|Net income|||(45,085)|(45,085)|