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