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2022-03-31-accounts

Board Report			1to2
Independent Auditors'	Report		3to 5
Statement ofComprehensive		Income
Balance Sheet
Statement ofChanges	in Reserves
Cash Flow Statement
Notes to the Financial	Statements		10to 14

				2022	2021
			Note
Turnover				30,202	32,716
Administrative expenditure			2	~(31.994	i31,9iv)
Operating surplus				(1,792)	731
Income from fixed asset investments				2,874	3,052
Interest receivable and	similar income			2	8
Movements in fair value offinancial		instruments		6,214	15,439
Surplus for the year				7,298	19,230
Total comprehensive	income for the year			7,298	19,230

			B	alance Sheet as at31M	arch 2022
						2022	2021
					Note	g	g
F'ixed assets
Tangible assets						385,463	378,613
Investments						91,627	83,087
						477,090	461,700
Current assets
Debtors						5,154	6,958
Cash at bank	and in	hand				14,419	21,536
						19,573	28,494
Creditors: Amounts		falling due within		one year		(3,568)	(1,581)
Net current	assets					16,005	26,913
Total assets	less current		liabiTities			493,095	488,613
Creditors: Amounts		falling due after		more than one year	9	~ll21, 086	~(123,902
Net assets						372,009	364,711
Funds ofthe association:
Reserves
Unrestricted	revaluation		reserve			225,335	219,121
Income and expenditure			reserve			146,674	145,590
Total reserves						372,009	364,711

		Statement ofC	hanges in Reserves as	at 31March 20	22
			Income and expenditure	Revaluation reserve	Total
			reserve
AtIApril	2021		145,590	219,121	364,711
Surplus for	the year		1,084		1,084
Revaluation	ofinvestments			6,214	6,214
Total comprehensive		income	1,084	6,214	7,298
At 31March 2022			146,674	225,335	372,009

Reconciliation ofnet movement	Reconciliation ofnet movement	Reconciliation ofnet movement		in	funds to net cash flow from operating	funds to net cash flow from operating	activities
							2022	2021
Net income							7,298	19,230
Investment income							(2,876)	(3,060)
Depreciation							9,983	9,302
(Profit) /loss on revaluation		offixed			asset investments		(6,214)	(15,439)
Decrease/(increase)	in debtors						1,804	(2,393)
Decrease in creditors							(829)	(4,046)
Net cash inflow							9,166	3,594
Cash flow statement
							2022	2021
Net cash inflow fiom operating			activities				9,166	3,594
Returns on investments		and servicing of finance
Investment income							2,876	3,060
Capital expenditure and Purchase oftangible fixed Purchase ofinvestments		financial assets			investment		(16,833) ~2,326) ~7)9,139	~2,47) ~2,47))
(Decrease)/increase	in cash in			the	year		(7,117)	4,183
Reconciliation ofnet cash flow				to	movement	in net funds
(Decrease)/increase	in cash						(7,117)	4,183
Net funds at I April	2021						21,536	17,353
Net funds at 31March 2022							14,419	21,536

value, over their expected useful economic life as follow	s:
Asset class	Depreciation	method	and rate
Social housing properties	50years
Doors and windows	30years
Kitchens	20years
Bathroom	25 years
Boilers	15years
Electrical and heating installations	25 years

2 Social housing turno	ver an	d costs
			2022	2021
Turnover
Rents receivable			27,286	29,161
Other income l donations			100	739
Amortised social housing	grant		2,816	2,816
Turnover from social housing		lettings	30,202	32,716
Administrative expenditure
Management			(5,741)	(5,838)
Service charge costs			(9,439)	(10,306)
Routine maintenance			(6,791)	(2,070)
Legal fees Depreciation ofhousing properties Operating surplus on social housing lettings			(39) [9,984) ~3).994 ~3,792)	(4,469) ~9,332 ~33,983) 731
Void losses			2,210	1,781

3 Accomm	odation oi	vn	ed and in management
				Number ofunits	at	Number	ofunits at
				1April 2021		31March 2022
Housing accommodation
4 Surplus	on ordinary		activities is stated after charging/(crediting):
				2022			2021
					g
Audit fees
Audit ofthe financial		statements				1,425	1,275
Depreciation	offreehold	property			9,984		9,302
Amortisation	ofgovernment		grants		(2,816)		(2,816)

5 Tangible fixed assets
	Social housing	Property
	properties	improvements	Total
Cost
At 1 April 2021	375,000	45,707	420,707
Additions		16,833	16,833
At 31March 2022	375,000	62,540	437,540
Depreciation
At 1 April 2021	37,500	4,594	42,094
Charge for the year	7,500	2,483	9,983
At 31March 2022	45,000	7,077	52,077
Net book value
At 31March 2022	330,000	55,463	385,463
At 31March 2021	337,500	41,113	378,613

6 Investm	ents held as fixed assets
		2022	2021
M&G Charity Multi Asset Fund		91,627	83,087
M&G Charity Multi Asset Fund
		Listed
		investments	Total
		K
Valuation
At 1 April	2021	83,087	83,087
Revaluation		6,214	6,214
Additions		2,326	2,326
At 31March 2022		91,627	91,627
Carrying	amount
At 31March 2022		91,627	91,627
At 31March 2021		83,087	83,087

7 Debtors
					2022	2021
Prepayments					1,891	1,823
Other debtors					3,263	5,135
					5,154	6,958
8 Creditors;	amounts	falling due	within one year
					2022	2021
Trade creditors					1,888	51
Accruals					1,680	1,530
					3,568	1,581
9 Creditors:	amounts	falling due	after one	year
					2022	2021
Grant					121,086	123,902
Social Housing	Grant totalling f140,798 has			been received. This will be repaid if the properties are sold. The Social
Housing Grant	is being	recognised	in income	on a systematic	basis over the expected useful life ofthe structure (50
years).