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|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|
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|||||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|
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||||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|
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|||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|
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|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|
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|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|||
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|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|
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|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)|
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|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|
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|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|
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|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).|||||||
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