2022-03-31-accounts

TRUSTEES	8 R Bunn
	F Fay - Treasurer
	Mrs RJohnson		- Chairman
	Mrs JStephens
	CJennison
	A Wood
	D M Hastings
	W G Holland
COMPANY SECRETARY	Mrs J Stephens
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 Limited, 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

				2022	2021
			Notes	E	E
Turnover				1,249,884	1,438,773
Cost ofsales				1148505	1215632
Gross surplus				101,379	223,141
Administrative	expenses			(347,743)	(311,562)
Other operating	income			93,119	42,845
Operating surplus/(deficit)				(153,245)	(45,576)
Profit/(loss) on	disposal offixed assets			332,982	(196,191)
Investment income				32,230	35,376
Other income				12,146	37,262
Movement in fair value offinancial instruments				70,514	217,914
TOTAL COMPREHENSIVE		INCOME FOR THE YEAR		294,627	48,785

		Income and
		expenditure	Total
		reserve
		E
At 1April 2021		3,640,061	3,640,061
Surplus for financial	year	294,627	294,627
Total comprehensive	income	294,627	294,627
At 31March 2022		3,934,688	3,934,688

			2022	2021
		Notes	E	E
FIXEDASSETS
Tangible assets		11	4,657,576	2,545,727
Investments		12	1,268,356	1,201,431
			5,925,932	3,747,158
CURRENT ASSETS
Debtors		13	30,933	22,259
Cash at bank and in hand			1,077,551	680,562
			1,108,484	702,821
CREDITORS
Amounts falling due within one year		14	(643,571)	(171,774)
NET CURRENT ASSETS			464,913	531,047
TOTAL ASSETS LESSCURRENT LIABILITIES			6,390,845	4,278,205
CREDITORS
Amounts falling due after	more than one year	15	(2,456,157)	(638,144)
NET ASSETS			3,934,688	3,640,061
CAPITAL AND RESERVES
Income and expenditure	reserve	26	3,934,688	3,640,061
			3,934,688	3,640,061

FOR THE YEAR ENDED 31	MARCH 202	2
					2022	2021
				Notes	E	f
Cash flows from operating	activities
Cash generated from operations					336,811	50,386
Net cash provided by operating activities					336,811	50,386
Cash flows from investing	activities
Purchase oftangible fixed	assets				(2,538,378)	(234,061)
Sale oftangible fixed assets Sale offixed asset investments					705,572 4,191	3,116
Interest received and similar income					44,196	72,295
Net cash (used in)/provided	by investing		activities		(1,784,419)	(158,650)
Cash flows from financing	activities
New loans in year					1,865,635
Interest paid					(20,616)
Net cash provided by financing activities					1,845,019
Change in cash and cash equivalents		in	the
reporting period					397,411	(108,264)
Cash and cash equivalents	at the beginning			of
the reporting period					682,996	791,260
Cash and cash equivalents	at the end	ofthe
reporting period					1,080,407	682,996

FOR T	HE YEAR ENDED 31MARCH 2022	HE YEAR ENDED 31MARCH 2022	HE YEAR ENDED 31MARCH 2022	HE YEAR ENDED 31MARCH 2022
1.	RECONCILIATION OF NET INCOME TO NET CASH FLOW				FROM OPERATING ACTIVITIES
						2022	2021
						f	f
	Operating surplus/(deficit)			for the year		(153,245)	(45,576)
	Adjustments for:
	Depreciation charges					53,939	61,898
	Interest paid					20,616
	Movement on deferred capital grant					(47,622)	(9,254)
	(Increase)/decrease		in debtors			(8,674)	14,981
	Increase in creditors					471,797	28,337
	Net cash provided	by operations				336,811	50,386
2.	ANALYSIS OF CASH	AND CASH EQUIVALENTS
						2022	2021
						f	f
	Cash in hand					1,177	3,730
	Notice deposits (less than			3 months)		1,076,374	676,832
	Cash deposit on Fixed Asset Investment					2,856	2,434
	Total cash and cash		equivalents			1,080,407	682,996
3.	ANALYSIS OF CHANGES IN NET FUNDS/(DEBT)
					At 1.4.21	Cash flow	At 31.3.22
					f	f	f
	Net cash
	Cash at bank and in		hand		680,562	396,989	1,077,551
					680,562	396,989	1,077,551
	Debt
	Debts falling due after 1year					(1,865,635)	(1,865,635)
						(1,865,635)	(1,865,635)
	Total				680,562	(1,468,646)	(788,084)

Description	Estimated	useful	life
Land &Buildings:
Structure			100
Kitchen			30
Bathroom			30
White goods			10
Roofs			50
Lifts			15

						2022	2021
						f	E
Rents received						1,532,056	1,554,678
Void losses						(274,038)	(125,159)
Amortised	government	grants				9,254	9,254
Reversal ofamortised		government		grants due to repayment	required	(17,388)
Net income	from residential		charges			1,249,884	1,438,773

INVESTMENT INCOME
	2022	2021
	E	E
Income from listed investments	31,913	31,802
Profit on disposal of listed investments	180	343
Bank interest	137	3,231
	32,230	35,376

		2022	2021
		E	E
Proceeds from the disposal of housing properties		705,572
Carrying value of housing	properties	(372,590)	(196,191)
Profit/(loss) on disposal	offixed assets	332,982	(196,191)

MOVEMENT	IN FAIR VALUE OF FINANCIAL INSTRUMENTS
		2022	2021
		E	E
Movement	in fair value of Fixed Asset investments	70,514	217,914
SURPLUS/(DEFICIT) ON ORDINARY ACTIVITIES
Surplus/(deficit) is stated after charging/(crediting):
		2022	2021
		E	E
Depreciation	—owned assets	53,939	61,898
(Profit)/loss	on disposal offixed assets	(332,982)	196,191
Auditor's remuneration for audit		9,120	8,280
Grants released to income		(9,254)	(9,254)

STAFFCOSTS
							2022	2021
							E	E
Wages and salaries							982,290	988,160
Socia I security costs							52,518	50,681
Other pension costs							16,569	17,174
							1,051,377	1,056,015
The average monthly	number ofemployees		during the year was as follows:
							2022	2021
Administration							4	5
Care staff							48	54
							52	59
No employees received emoluments		in excess off60,000.
TANGIBLE FIXEDASSETS
							Fixtures
			Freehold		Plant	and	and
			property		machinery		fittings	Totals
					E		E	E
COST
At 1April 2021			3,058,421		8,124		378,334	3,444,879
Additions			2,523,654				14,724	2,538,378
Disposals			(506,136)				(40,138)	(546,274)
At 31March 2022			5,075,939		8,124		352,920	5,436,983
DEPRECIATION
At 1April 2021				603,921	3,569		291,662	899,152
Charge for year				26,848		163	26,928	53,939
Eliminated on disposal			(137,486)				(36,198)	(173,684)
At 31March 2022				493,283	3,732		282,392	779,407
NET BOOK VALUE
At 31March 2022			4,582,656		4,392		70,528	4,657,576
At 31March 2021			2,454,500		4,555		86,672	2,545,727

FIXEDASSET INVESTM	EN	TS
							Cash and
						Listed	settlements
					investments		pending	Totals
						E	f	E
MARKET VALUE
At 1April 2021					1,198,997		2,434	1,201,431
Disposals						(4,011)		(4,011)
Revaluations						70,514		70,514
Cash movement							422	422
At 31March 2022					1,265,500		2,856	1,268,356
NET BOOK VALUE
At 31March 2022					1,265,500		2,856	1,268,356
At 31March 2021					1,198,997		2,434	1,201,431
The historical cost ofthese investments				isf956,862 (2021:f960,062).
The fair value of listed	investments		is determined		by reference to the quoted	price for	identical assets in an active market
the financial reporting	date.
DEBTORS:AMOUNTS	FALLING DUE WITHIN ONE				YEAR
							2022	2021
							f	E
Residential charges due		and unpaid					11,495	4,211
Other debtors							2,118	1,369
Prepayments							17,320	16,679
							30,933	22,259
CREDITORS: AMOUNTS		FALLING DUE		WITHIN ONE YEAR
							2022	2021
							f	E
Trade creditors							469,384	41,521
Payments received on account							8,597	21,915
Social security and other		taxes						12,578
Other creditors							65,079	7,533
Accruals and deferred	income						100,511	88,227
							643,571	171,774

FOR T	HE YEAR ENDED 31MARCH 2022	HE YEAR ENDED 31MARCH 2022	HE YEAR ENDED 31MARCH 2022
15.	CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
				2022	2021
				f	f
	Bank loans		(see note 16)	1,865,635
	Deferred	capital grants		590,522	638,144
				2,456,157	638,144
16.	LOANS
	An analysis		ofthe maturity ofloans is given below:
				2022	2021
				f	f
	Amounts	falling between one and two years:
	Bank loans		- 1-2years	38,383
	Amounts	falling due between two and five years:
	Bank loans		—2-5years	210,242
	Amounts	falling due in more than five years:
	Repayable		by instalments:
	Bank loans		more 5yr by instalments	1,597,005

		2022	2021
		f	f
Bank	loans	1,865,635

19.	CAPITAL CO	MMITMENTS
					2022	2021
					f	E
	Contracted but not provided for in the financial statements				1,089,664	3,378,549
20.	OTHER FINANCIAL COMMITMENTS
	The company	has the following	commitments	due as follows:
					2022	2021
					E	f
	Due in less than one year				8,681	6,731
	Due between	two and five years			23,307	21,658
	Due in more	than five years				2,707
					31,988	31,096

							2022	2021
							f	E
Financial	assets
Measured	at fair value through			the statement	ofcomprehensive	income:
- Fixed asset investments		(note		12)			1,265,500	1,198,997
Debt instruments measured			at	amortised cost:
—Trade debtors and other			debtors (note 13)				13,613	5,580
							1,279,113	1,204,577
Financial	liabilities
Measured	at amortised cost:
-Trade creditors and other			creditors (note 14)				(534,463)	(49,054)
- Bank loans (note 16)							(1,865,635)
							(2,400,098)	(49,054)
Income and expense
							2022	2021
							E	E
Financial	assets measured		at fair value through		comprehensive	income	70,514	217,914

			Balance at	Income	Expenditure	Balance at
			1April			31March
			2021			2022
			E			E
Unrestricted funds			1,627,825	(411,611)	1,476,118	(259,904)
Designated funds
Capital expenditure		reserve	30,000	14,724	14,724	30,000
Housing property		repair reserve	100,000			100,000
General charitable		reserve	61,326	12,146	5,406	68,066
Property fixed asset reserve			1,820,910	2,175,616		3,996,526
			3,640,061	1,790,875	1,496,248	3,934,688
			Balance at	Income	Expenditure	Balance at
			1April			31March
			2020			2021
			f			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