##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|Metric||2020|2019
as restated|SPBG
2020|Commentary||
|---|---|---|---|---|---|---|
|New supply||0%|0%|0%|The
Charity|has
10
Almshouses
in|
|delivered|||||management.|This remains
as per the|
||||||previous
year,
with
no
new
supply
of||
||||||social
housing
or
new
supply
of||
||||||non-social
housin
.||
|Gearing||(6.91)%|(7.00)%|16.38%|The
Charity|has
minimal
borrowings|
||||||corn
ared to|indust
standard.|
|EBITDA|MRI|10,854.31%|9,000.71%|250.5%|The Charity|has
only
minor
borrowings|
||||||and minimal|interest
in the
ear.|
|Social Housing||F3,440|F3,772|E4,597|The
charity|has
done
well
to
monitor|
|Cost Per|Unit||||expenditure|in the
year,
particularly
in|
||||||respect
of|repairs
and
maintenance|
||||||costs, which|were able to be kept to a|
||||||minimum.||
|Operating|Margin|16.05%|12.99%|17.52%|As a Charity,|St Joseph's
Almshouses|
|Overall|||||receives
a
significant
level
of income||
||||||from
its
Investments,
which
produced||
|Social Housing||16.36%|12.64%|18.1%|616,713
in|2020,
thus
impacting
the|
|Lettings|only||||operating
margin.
This
income
also||
||||||underwrites|part
of
the
charity's|
||||||operating
costs.
Lower
maintenance||
||||||costs
in
2020
has
resulted
in
an||
||||||improvement|compared
to
industry|
||||||standard.||
|ROCE||1.11%|0,94%|2.35%|This
is
particularly
low
due
to
the||
||||||minimal
liabilities ofthe charit
.||
|Reinvestment||0%|0%|3.62%|Following
the|major refurbishment
works|
||||||undertaken
in recent
years,
no capital||
||||||improvements|were
required.
The|
||||||trustees
are|satisfied
that the properties|
||||||have
been|maintained
to
a
good|
||||||standard.||
##
##
##
##
##
||||||2020|2019|
|---|---|---|---|---|---|---|
|||Unrestricted|Restricted|Endowment|Total|Total|
|||funds|fund|fund|funds|funds|
|||||||as restated|
||Notes|E|||||
|INCOME AND|||||||
|ENDOWMENTS
FROM|||||||
|Donations
and legacies||75|||75|900|
|Charitable
activities|||||||
|Housing
Activities||61,190|||61,190|62,640|
|Investment
income||16,713|||16,713|8,877|
|Total||77,978|||77,978|72,417|
|EXPENDITURE ON|||||||
|Charitable
activities|||||||
|Housing
Activities||48,963|2,469||51,432|55,289|
|Net gains/(losses)
on
investments||$16,015)|||$16,015)|41,717|
|NET|||||||
|INCOME/(EXP ENDITURE)||13,000|(2,469)||10,531|58,845|
|RECONCILIATION
OF|||||||
|FUNDS|||||||
|Total funds brought|||||||
|forward|||||||
|As previously
reported||696,478||1,125|697„603|798,682|
|Prior year adjustment|||159,924||159,924||
|As restated||696,478|159,924|1,125|857,527|798,682|
|TOTAL FUNDS CARRIED|||||||
|FORWARD||709,478|157,455|1,125|868,058|857,527|
##
||||||2020|2019|
|---|---|---|---|---|---|---|
|||Unrestricted|Restricted|Endowment|Total|Total|
|||funds|fund|fund|funds|funds|
|||||||as restated|
||Notes|F|||||
|FIXED ASSETS|||||||
|Tangible assets|12|335,403|157,455||492,858|509,637|
|Investments|13|370,374||1,125|371,499|355,894|
|||705,777|157,455|1,125|864,357|865,531|
|CURRENT ASSETS|||||||
|Debtors|'i4|7,051|||7,051|1,580|
|Cash at bank||24,885|||24„885|29,580|
|||31,936|||31,936|31,160|
|CREDITORS|||||||
|Amounts
falling due within|||||||
|one year|15|(7,446)|||(7,446)|(15,024)|
|NET CURRENT ASSETS||24,490|||24,490|16,136|
|TOTAL ASSETS LESS|||||||
|CURRENT LIABILITIES||730,267|157,455|1,125|888,847|881,667|
|CREDITORS|||||||
|Amounts
falling due after|||||||
|more than one year|16|(20,789)|||(20,789)|(24,140)|
|NET ASSETS||709,478|157,455|1,125|868,058|857,527|
|FUNDS||18|
|---|---|---|
|Unrestricted|funds||
|Restricted|funds||
|Endowment|funds||
|TOTAL FUNDS|||
|709,478|696,478|
|---|---|
|157,455|159,924|
|1,125|1,125|
|888,058|857,527|
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|3.|INCOME FROM|CHARITABLE|CHARITABLE|ACTIVITIES||||
|---|---|---|---|---|---|---|---|
|||||||2020|2019|
|||||||f|as restated
f|
||Gross maintenance
Losses from voids||contributions|from residents|62,640
~1,455)||62,640|
|||||||61,190|62,640|
|4.|CHARITABLE ACTIVITIES COSTS|||||||
||||||Direct|Support||
||||||Costs (see|costs (see||
||||||note 5)
f|note 6)
f|Totals
f|
||Housing
Activities||||43,030|8,402|5ll,432|
|5.|DIRECT COSTS|OF|CHARITABLE ACTIVITIES|||||
|||||||2020|2019|
||||||||as restated|
|||||||f|f|
||Rates and water|||||1,448|1,127|
||Insurance|||||2,998|2,991|
||Light and heat|||||8,084|8,029|
||Telephone|||||414|379|
||Property
repairs|& maintenance||||8„680|14,869|
||Cleaning
&gardening|||||1„497|1,020|
||Alarm costs|||||3122|1,079|
||TV licence|||||8|8|
||Depreciation|||||16„779|17,671|
|||||||43,030|47,173|
|6.|SUPPORT COSTS|||||||
|||||||Governance||
|||||Management
f|Finance
f|costs
f|Totals
f|
||Housing
Activities|||6,531|251|1„620|8,402|
##
##
|Management||||
|---|---|---|---|
|||2020|2019|
||||as restated|
|||Housing|Total|
|||Activities|activities|
|||f||
|Clerks' fees||5,760|5,760|
|Sundries||250|201|
|Subscriptions||521|312|
|||6„531|6,273|
|Finance||||
|||2020|2019|
||||as restated|
|||Housing|Total|
|||Activities|activities|
|||E|F|
|Loan||251|283|
|Governance|costs|||
|||2020|2019|
||||as restated|
|||Housing|Total|
|||Activities|actwities|
|Independent|Examination|1,620|1,560|
##
##
|8.|COMPARATIVES
FOR THE STATEMENT|COMPARATIVES
FOR THE STATEMENT|OF FINANCIAL|ACTIVITIES|||
|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|Endowment|Total|
||||funds|fund|fund|funds|
|||||||as restated|
|||||||E|
||INCOME AND ENDOWMENTS|FROM|||||
||Donations
and legacies||900|||900|
||Charitable
activities||||||
||Housing
Activities||62,640|||62,640|
||Investment
income||8,877|||8,877|
||Total||72,417|||72,417|
||EXPENDITURE ON||||||
||Charitable
activities||||||
||Housing
Activities||52,820|2,469||55,289|
||Net gains on investments||4'I,717|||41,717|
||NET INCOME/(EXPENDITURE)||61,314|(2,469)||58,845|
||RECONCILIATION
OF FUNDS||||||
||Total funds brought
forward||635,164|162,393|1,125|798,682|
||TOTAL FUNDS CARRIED FORWARD||696,478|159,924|1,125|857,527|
##
|||As Previously|||
|---|---|---|---|---|
|At 1stJanuary 2019||Stated|AdJustment|As Restated|
|||F|E||
|Fixed assets||812,131||812,131|
|Current assets||20,598||20,598|
|Creditors
due|within one year|(9,057)|2,469|(6,588)|
|Creditors
due|in more than one year|(187,383)|159,924|(27,459)|
|||636289||798682|
|Unrestricted
Funds||635,164||635,164|
|Restricted
Funds|||(162,393)|162,393|
|Endowment
Fund||1,125||1,125|
|||636289||798,682|
|During t|he year ended|31st Dece|mber 20|19the following
adjustme|nts
were made:|
|---|---|---|---|---|---|
||||||2019|
|Surplus
Reversal|for the year as
of amortisation|previously
of social|reported
housing|grant|61,314
~2,469I|
|As restated|||||58,845|
##
##
||||||2020|2019|
|---|---|---|---|---|---|---|
|||||||as restated|
||||||E||
|Turnover
Operating|from Social Housing
costs of Social Housing||||61,190
~80,816)|62,640
~55,006)|
|Operating|surplus|and surplus|on Social Housing|activities|10,374|7,634|
##
##
|Aggregate
amount|received|
|---|---|
|At 31st December|2020 and 31st December 2019|
|Aggregate
amount
received
||
|---|---|
|At 31st December 2020 and 31st December 2019|286,266|
|Released to Statement
of Financial
Activities
At 31st December 2020 and 31st December 2019|~286,266)|
##
##
|TANGIBLE FIXEDASSETS||||
|---|---|---|---|
|||Fixtures||
||Housing|and||
||properties|fittings|Totals|
|||E|F|
|COST||||
|At 1 January 2020 and||||
|31 December 2020|616,168|28,106|644,274|
|DEPRECIATION||||
|At 1 January 2020|117,225|17,412|134,637|
|Charge for year|14,104|2,675|16,779|
|At 31 December 2020|131,329|20,087|151,416|
|NET BOOK VALUE||||
|At 31 December 2020|484,839|8,019|492,858|
|At 31 December 2019|498,943|10,694|509,637|
|13.|FIXED ASSET INVESTMENTS|FIXED ASSET INVESTMENTS|FIXED ASSET INVESTMENTS|FIXED ASSET INVESTMENTS|||||
|---|---|---|---|---|---|---|---|---|
|||||||||Listed|
|||||||||investments|
|||||||||E|
||MARKET VALUE||||||||
||At 1 January 2020|||||||355,894|
||Additions|||||||15,000|
||Revaluations|||||||(16,015)|
||Accumulated
dividends|||||||16„620|
||At 31 December 2020|||||||371,499|
||NET BOOK VALUE||||||||
||At 31 December 2020|||||||371,499|
||At 31 December 2019|||||||355,894|
||There were no investment|||assets outside the UK.|||||
|14.|DEBTORS:AMOUNTS||FALLING||DUE WITHIN ONE YEAR||||
||||||||2020|2019|
|||||||||as restated|
|||||||||F|
||Prepayments
and accrued|||income|||7,051|1,580|
|15.|CREDITORS: AMOUNTS|||FALLING DUE WITHIN ONE YEAR|||||
||||||||2020|2019|
|||||||||as restated|
||Other creditors||||||7,446|15,024|
|16.|CREDITORS: AMOUNTS|||FALLING DUE AFTER MORE||THAN ONE YEAR|||
||||||||2020|2019|
|||||||||as restated|
||Other creditors||||||20,789|24,140|
|17.|LOANS||||||||
||An analysis
ofthe maturity|||of loans|is given below;||2020|2019|
|||||||||as restated|
|||||||||E|
||Amounts
falling due|within||one year on demand:|||||
||National
Association|ofAlmshouses|||Loan||3,351|3,319|
||Amounts
falling between
one and two years:
National
Association
ofAlmshouses
Loan -1-2 years||||||3,384|3,351|
||Amounts
falling due|between
two and five years:|||||||
||National
Association|ofAlmshouses|||Loan - 2-5 years||ll7,405|17,243|
||Amounts
falling due|in more than five years:|||||||
||National
Association|ofAlmshouses|||Loan more 5yrs|||3,546|
||The National
Association||ofAlmshouses
Loan is unsecured|||and interest free.|||
##
##
|MOVENIENT
IN|FUN|D|S|||||
|---|---|---|---|---|---|---|---|
||||||Prior|Net||
||||||year|movement|At|
|||||At 1.1.20|adjustment|in funds|31.12.20|
|||||E|E|||
|Unrestricted
funds||||||||
|General
fund||||362,446||14,104|376,550|
|Investment
Revaluation|||Fund|131,028||(16,015)|115,013|
|Cyclical Maintenance||Fund||32,664||86|32,750|
|Extraordinary
Repairs|||Fund|170,340||14,825|185,165|
|||||696,478||13,000|709,478|
|Restricted funds||||||||
|Housing
Property|Fund||||159,924|(2,469)|157,455|
|Endowment
funds||||||||
|Endowment
Fund||||1,125|||1,125|
|TOTAL FUNDS||||697,603|159,924|10,531|868,058|
|Net movement
in|funds,||included|in the above are as follows:||||
|||||Incoming|Resources|Gains and|Movement|
|||||resources|expended|losses|in funds|
|||||||E|E|
|Unrestricted
funds||||||||
|General
fund||||63,067|(48,963)||14,104|
|Investment
Revaluation|||Fund|||(16,015)|(16,015)|
|Cyclical Maintenance||Fund||86|||86|
|Extraordinary
Repairs||Fund||14,825|||14,825|
|Restricted funds||||77,978|(48,963)|(16,015)|13,000|
|Housing
Property|Fund||||(2,469)||(2,469)|
|TOTAL FUNDS||||77,978|)51,432)|)16,015)|10„531|
##
##
|Comparatives
fo|r mo||veme|nt
in fun|ds|||||
|---|---|---|---|---|---|---|---|---|---|
||||||||Net|Transfers||
||||||||movement|between|At|
|||||||At 1.1.19|in funds|funds|31.12.19|
|||||||||F|E|
|Unrestricted
funds||||||||||
|General
fund||||||369,675|12,771|(20,000)|362,446|
|Investment
Revaluation|||Fund|||89,311|41,717||131,028|
|Cyclical Maintenance|||Fund|||22,497|167|10,000|32,664|
|Extraordinary
Repairs|||Fund|||153,681|6,659|10,000|170,340|
|||||||635,164|61,314||696,478|
|Restricted funds||||||||||
|Housing
Property|Fund|||||162,393|(2,469)||159,924|
|Endowment
funds||||||||||
|Endowment
Fund||||||1,125|||1,125|
|TOTAL FUNDS||||||798,682|58,845||857,527|
|Comparative
net|movement|||in funds,|included|in the above|are as follows:|||
|||||||Incoming|Resources|Gains and|Movement|
|||||||resources|expended|losses|in funds|
|||||||F||.F||
|Unrestricted
funds||||||||||
|General
fund||||||65,591|(52,820)||12,771|
|Investment
Revaluation|||Fund|||||41,717|41,717|
|Cyclical Maintenance||Fund||||167|||167|
|Extraordinary
Repairs|||Fund|||6,659|||6,659|
|||||||72,417|(52,820)|41,717|61,314|
|Restricted funds||||||||||
|Housing
Property|Fund||||||(2,469)||(2,469)|
|TOTAL FUNDS||||||72,417|~55,289)|41,717|58,845|
##
##
##
##
##
##
|||2020|2019|
|---|---|---|---|
||||as restated|
||||F|
|INCOME AND ENDOWMENTS||||
|Donations
and legacies||||
|Donations||75|900|
|Investment
Income||||
|Investment
income||16,627|8,710|
|Deposit account interest||86|167|
|||16,713|8,877|
|Charitable
activities||||
|Housing
Activities||61,190|62,640|
|Total incoming
resources||77,978|72,417|
|EXPENDITURE||||
|Charitable
activities||||
|Rates and water
Insurance
Light and heat
Telephone||1,448
2,998
8,084
414|1,127
2,991
8,029
379|
|Property
repairs 8 maintenance
Cleaning
&gardening||8,680
1,497|14,869
1,020|
|Alarm costs
TV licence||3 122
8|1,079
8|
|Depreciation
of housing
Fixtures and fittings|properties|14,104
2,675|14,104
3,567|
|||43,030|47,173|
|Support costs||||
|Management||||
|Clerks' fees
Sundries||5,760
250|5,760
201|
|Subscriptions||521|312|
|||6,531|6,273|
|Finance||||
|Loan||251|283|
|Governance costs||||
|Independent
Examination||1,620|1,560|
|Total resources expended||51,432|55,289|
|Net income||26,546|17,128|