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2021-03-31-accounts

Page
Reference and Administrative
Details
Report of the Trustees 2 to 7
Report of the Independent
Auditors		 8 to 11
Statement ofComprehensive
Income		 12
Statement ofChanges
in Reserves		 13
Statement of Financial
Position		 14
Statement of Cash Flows 15
Notes to the Statement of Cash Flows 16
Notes to the Financial Statements 17 to 25
TRUSTEES B R Bunn
F Fay - Treasurer
D C Hogg
Mrs RJohnson —Chairman
Mrs J Stephens
CJennison
A Wood
SECRETARY D C Hogg
REGISTERED OFFICE 44 Westfield Drive
Loughborough
Leicestershire
LE113QL
REGISTERED COMPANY NUMBER 00754694 (England and Wales)
REGISTERED CHARITY NUMBER 238168
SENIOR STATUTORY AUDITOR Niall Kingsley ACA
AUDITORS Duncan
& Toplis l.imited, Statutory		 Auditor
3 Princes Court
Royal Way
Loughborough
Leicestershire
LE11SXR
SOLICITORS Moss Solicitors
80-81Woodgate
Loughborough
Leicestershire
LE112XE
BANKERS National
Westminster		 Bank pic
Market Place
Loughborough
Leicestershire
LE113NZ

2021 2020
Notes E E
Turnover 1,438,773 1,438,304
Cost ofsales 1215632 1151807
Gross surplus 223,141 286,497
Administrative expenses (311,562) (342,189)
Other operating income 42,845
Loss on disposal of fixed assets (196,191)
Operating
surplus/(deficit)		 (241,767) (55,692)
Investment
income		 3 35,376 45,912
Other income 37,262 6,184
Movement
in fair value of financial		 instruments 6 217,914 (155,147)
TOTAL COMPREHENSIVE INCOME FOR THE YEAR 48,785 (158,743)

Income and
expenditure Total
reserve
E
At 1April 2020 3,591,276 3,591,276
Surplus for financial year 48,785 48,785
Total comprehensive income 48,785 48,785
At 31March 2021 3,640,061 3,640,061

AT31MARCH 20 21
2021 2020
Notes E f
FIXED ASSETS
Tangible assets 9 2,545,727 2,569,755
Investments 10 1,201,431 986,461
3,747,158 3,556,216
CURRENT ASSETS
Debtors 22,259 37,240
Cash at bank and in hand 680,562 788,655
702,821 825,895
CREDITORS
Amounts
falling due within one year		 12 (171,774) (143,437)
NET CURRENT ASSETS 531,047 682,458
TOTAL ASSETS LESSCURRENT LIABILITIES 4,278,205 4,238,674
CREDITORS
Amounts
falling due after		 more than one year 13 (638,144) (647,398)
NET ASSETS 3,640,061 3,591,276
CAPITAL AND RESERVES 22
Income and expenditure reserve 3,640,061 3,591,276
3,640,061 3,591,276
Notes 2021
E		 2020
E
Cash flows from operating
activities
Cash generated
from operations		 50,386 140,994
Net cash provided
by/(used
in) operating		 activities 50,386 140,994
Cash flows from investing
activities
Purchase oftangible
fixed assets
Sale of fixed asset investments
Interest received and similar income		 (234,061)
3,116
72,295		 (139,531)
4,469
51,895
Net cash provided
by/(used
in) investing		 activities (158,650) (83,167)
Change
in cash and cash equivalents		 in the
reporting
period		 (108,264) 57,827
Cash and cash equivalents
at the beginning
ofthe reporting
period		 2 791,260 733,433
Cash and cash equivalents
at the end		 of
the reporting
period		 682,996 791,260

2021 2020
E E
Operating
surplus/(deficit)		 for the year
(241,767) (55,692)
Adjustments
for:
Depreciation
charges		 61,898 64,152
Loss on disposal of fixed assets 196,191 3,620
Movement
on deferred		 capital grant (9,254) (9,254)
Decrease in debtors 14,981 108,902
Increase
in creditors		 28,337 29,266
Net cash provided
by/(used		 in) operating activities 50,386 140,994
ANALYSIS OF CASH AND CASH EQUIVALENTS
2021 2020
6 E
Cash in hand 3,730 1,678
Notice deposits (less than 3months) 676,832 786,977
Cash deposit on Fixed Asset Investment 2,434 2,605
Total cash and cash equivalents 682,996 791,260
ANALYSIS OF CHANGES IN NET FUNDS
At 1.4.20 Cash flow At 31.3.21
E E E
Net cash
Cash at bank and
in hand		 788,655 (108,093) 680,562
788,655 (108,093) 680,562
Total 788,655 (108,093) 680,562

Assets and their components
are depreciated		 over their useful
lives on the		 following
Description Estimated useful life
Land
Ik Buildings:
Structure
Kitchen 100
Bathroom 30
White goods
Roofs		 30
10
Lifts 50
15
Fixtures, fittings &equipment

2021 2020
E E
Rents received 1,554,678 1,476,482
Quality Assessment Award 2,000
Void losses (125,159) (45,908)
Funding
shortfall		 (3,524)
Amortised
government		 grants 9,254 9,254
Net income from residential charges 1,438,773 1,438,304
INVESTMENT INCOME
2021 2020
E f
Income from listed investments 31,802 38,925
Profit on disposal oflisted investments 343 201
Bankinterest 3,231 6,786
35,376 45,912

DISPOSALS OF HOUSING PROPERTIES HELD AS TANGIBLE FIXED ASSETS
2021 2020
E E
Proceeds from the disposal of housing properties
Carrying value of housing properties (196,191)
Loss on disposal offixed assets (196,191)

MOVEMENT
IN FAIR VALUE OF FINANCIAL
INSTRUMENTS
2021 2020
E E
Movement
in fair value of Fixed Asset investments		 217,914 (155,147)
SURPLUS/(DEFICIT)
ON ORDINARY ACTIVITIES
Surplus/(deficit)
is stated after charging/(crediting):
2021 2020
E E
Depreciation
- owned assets		 61,898 64,151
l.oss on disposal of fixed assets 196,191 3,620
Auditor's
remuneration
for audit		 8,280 8,040
Grants released to income (9,254) (9,254)

STAFF COST S
2021 2020
E E
Wages and salanes 988,160 907,694
Social security costs 50,681 42,245
Other pension costs 17,174 15,824
1,056,015 965,763
The average monthly number ofemployees during the year was as follows:
2021 2020
Administration 5 5
Care staff 54 52
59 57

TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings Totals
E E E E
COST
At 1April 2020 3,128,615 8,124 347,364 3,484,103
Additions 203,091 30,970 234,061
Disposal s (273,285) (273,285)
At 31March 2021 3,058,421 8,124 378,334 3,444,879
DEPRECIATION
At 1April 2020 651,576 3,407 259,365 914,348
Charge for year 29,439 162 32,297 61,898
Eliminated
on disposal		 (77,094) (77,094)
At 31March 2021 603,921 3,569 291,662 899,152
NET BOOK VALUE
At 31March 2021 2,454,500 4,555 86,672 2,545,727
At 31March 2020 2,477,039 4,717 87,999 2,569,755

FIXED ASSET INVESTMENTS
Cash and
Listed settlements
investments pending Totals
E E E
MARKET VALUE
At 1April 2020 983,856 2,605 986,461
Disposal s (2,773) (2,773)
Revaluations 217,914 217,914
Cash movement (171) (171)
At 31March 2021 1,198,997 2,434 1,201,431
NET BOOK VALUE
At 31March 2021 1,198,997 2,434 1,201,431
At 31March 2020 983,856 2,605 986,461

DEBTORS'.AMOUNTS DEBTORS'.AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
f E
Residential charges due and unpaid 4,211 2,512
Other debtors 1,369 570
Prepayments 16,679 34,158
22,259 37,240

CREDITORS'.A MOUNT S
FALLING DUE WITHIN ONE YEAR
2021 2020
E E
Trade creditors 41,521 41,725
Payments
received on		 account 21,915 6,268
Social security and other taxes 12,578 10,918
Other creditors 7,533 6,523
Accruals and deferred income 88,227 78,003
171,774 143,437

CREDITO RS: AM OUNTS
FALLING DUE AFTER MORE T		 HAN ONE YEAR
2021 2020
E E
Deferred capital grants 638,144 647,398

CAPITAL CO MMITMENTS
2021 2020
E E
Contracted
but not provided		 for in the financial statements 3,378,549
OTHER FINANCIAL COMMITMENTS
The company has the following commitments due as follows:
2021 2020
E E
Due in less than one year 6,731 3,951
Due between two and five years 21,658 1,317
Due in more than five years 2,707
31,096 5,268

2021 2020
E E
Financial assets
Measured at fair value through the statement ofcomprehenswe income:
- Fixed asset investments (note 11) 1,198,997 983,856
Debt instruments
measured		 at amortised cost:
-Trade debtors and other debtors (note 12) 5,580 3,082
1,204,577 986,938
Financial liabilities
Measured at amortised cost:
—Trade creditors
and other		 creditors (note 13) (49,053) (48,248)
(49,053) (48,248)
Income and expense 2021 2020
E E
Financial assets measured at fair value through comprehensive income 217,914 (155,147)

Balance at Income Expenditure Balance at
1April 31March
2020 2021
E E
Unrestricted funds 1,593,036 1,703,179 1,668,390 1,627,825
Designated funds
Capital expenditure reserve 30,000 30,971 30,971 30,000
Housing property repair reserve 100,000 100,000
General charitable reserve 33,882 38,020 10,576 61,326
Property fixed asset reserve 1,834.358 13,448 1,820,910
3,591,276 1,772,170 1,723,385 3,640,061