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|Generallnformation|||
|---|---|---|
|Trustee's
Report||2-5|
|Independent
Auditor's|Report|6-8|
|Financial Statements|||
|Statement
of Financial|Activities||
|Balance Sheet||10|
|Cash flow statement|||
|Notes to the Financial|Statements|12-21|
|Detailed
l&E Account||22|
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|||Notes|Unrestricted|Endowment|Total funds|Total|
|---|---|---|---|---|---|---|
||||funds|funds|||
||||2020|2020|2020|2019|
|INCOME||||||E|
|Income and endowments|from:||||||
|Investments|||17,552||17,552|22,744|
|Charitable
activities:|||||||
|Residents'
contributions|||339,427||339,427|330,425|
|Total income|||356,979||356,979|353,169|
|EXPENDITURE|||||||
|Charitable
activity|||||||
|Almshouse
accommodation|||||||
|Services|||128,060||128,060|144,287|
|Management|||66,905||66,905|59,395|
|Routine maintenance|||68,945||68,945|55,918|
|Depreciation||||19,447|19,447|17,288|
|Maintenance
—major|items||9,097||9,097|39,152|
|Total expenditure||4|273,007|19,447|292,454|316,040|
|Net income/(expenditure)|before||83,972|(19,447)|64,525|37,129|
|investment
gains|||||||
|Net gains on investments|||5,278||5,278|46,699|
|Net income/(expenditure)|for the||89,250|(19,447)|69,803|83,828|
|year|||||||
|Transfers
between
funds|||(58,395)|58,395|||
|Net movement
in funds|||30,855|38,948|69,803|83,828|
|Funds brought
fonvard|||752,599|1,136,385|1,888,984|1,805,156|
|Funds carried forward|||783,454|1,175,333|1,958,787|1,888,984|
##
||||||Notes|2020|2020|2019|2019|
|---|---|---|---|---|---|---|---|---|---|
|Fixed Assets||||||||||
|Tangible:||||||||||
|Housing
property|||||||1,302,944||1,279,220|
|Investments|||||10||608,497||603,219|
||||||||1,911,441||1,882,439|
|Current Assets||||||||||
|Debtors||||||2,028||5,245||
|Cash at bank|and|in hand||||187,293||160,669||
|||||||189,321||165,914||
|Creditors||||||||||
|Amounts
falling due within||||one|12|30,379||32,532||
|year||||||||||
|Net current|assets||||||158,942||133,382|
|Total assets|less current||liabilities||||2,070,383||2,015,821|
|Creditors:||||||||||
|Amounts
falling due after||||one year|13||111,596||126,837|
|Net assets|||||||1,958,787||1,888,984|
|Funds||||||||||
|Unrestricted|Funds||||14||783,454||752,599|
|Endowment|Funds||||15||1,175,333||1,136,385|
|Total|||||||1,958,787||1,888,984|
||||||||2020|2019|
|---|---|---|---|---|---|---|---|---|
|Net movement
in funds|||||||69,803|83,828|
|Investment
gains|||||||(5,278)|(46,699)|
|Deduct: investment
income shown|in investing||activities||||(17,552)|(22,744)|
|Add: depreciation|||||||19,447|17,288|
|Decrease/(Increase)
In debtors|||||||3,217|(1,208)|
|(Decrease)/Increase
in creditors (excluding||loans)|||||(2,153)|868|
|Net cash from operating
activities|||||||67,484|31,333|
|Cash flows from investing
activities|||||||||
|Investment
income|||||||17,552|22,744|
|Purchase
of tangible
fixed assets|||||||(43,171)|(55,247)|
|Net cash from Investing
activities|||||||(25,619)|(32,503)|
|Cash flows from financing
activities|||||||||
|Repayment
of loans|||||||(15,241)|(15,220)|
|Increase/(Decrease)
in cash and cash equivalents||||in the year|||26,624|(16,390)|
|Cash and cash equivalents
at the start ofthe year|||||||160,669|177,059|
|Total cash and
cash equivalents|at the|end|of|the year|required|for|187,293|160,669|
|operational
purposes|||||||||
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|Staff costs:|2020
E|2019
f|
|---|---|---|
|Wages and salaries|70,209|69,629|
|Social security costs|6,278|6,498|
|Pension contributions|3,135|3,006|
|Other|(70)|1,298|
||79,552|80,431|
||||||||Turnover|Operating|Turnover|Operating|
|---|---|---|---|---|---|---|---|---|---|---|
|||||||||costs||costs|
||||||||2020|2020|2019|2019|
||||||||E|f|f|E|
|Income|and|Expenditure|||from||||||
|Lettings|||||||||||
|Residents'
contributions|||||||354995||349,993||
|Less; voids|||||||(15,568)||(19,568)||
|Housing|Income||and expenditure||||339,427|(289,379)|330,425|(312,945)|
|Investment||income|||||17,552||22,744||
|Interest|payable||and similar|||||(3,075)||(3,095)|
|charges|(note 5)||||||||||
|Total|||||||356,979|(292,454|353,169|316,040|
|Net income|||||||64,525||37,129||
|5. Interest|payable||and similar charges||||||||
||||||||||2020|2019|
||||||||||f|f|
|On loans|wholly or partially||||||||||
|repayable|in|more|than||5years||||3,075|3,095|
|6. Net income|||||||||||
|Net incoming||resources|||are stated|after|charging||2020f|2019
f|
|Depreciation||—tangible||fixed assets|||||19,447|17,288|
|Auditors'|remuneration||||(including|VAT) in their capacity||as|||
|audltoi 5|||||||||5,900|5,060|
##
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|. Tangible Assets||||||
|---|---|---|---|---|---|
|HOUSING
PROPERTY (Freehold)|Buildings|Kitchen &|Roofing|Total|Total|
||(incl. major|Bathroom||Housing|Housing|
||repairs)|refurbishments||Properties|Properties|
||2020|2020|2020|2020|2019|
|Deemed Cost|E|f|f|E|E|
|At 1January 2020|551,970|165,050|627,604|1,344,624|1,289,377|
|Additions||43,171||43,171|55,247|
|At 31December 2020|551,970|208,221|627,604|1,387,795|1,344,624|
|Depreciation||||||
|At 1January 2020|15,143|16,242|34,019|65,404|48,116|
|Charge for the year|2,760|10,411|6,276|19,447|17,288|
|At 31December 2020|17,903|26,653|40,295|84,851|65,404|
|Net BookValue||||||
|At 1January 2020|536,827|148,808|593,585|1,279,220|1,241,261|
|At 31December 2020|534,067|181,568|587,309|1,302,944|1,279,220|
##
||||2020|2019|
|---|---|---|---|---|
||||f|f|
|Market|value|b/f|603,219|556,520|
|Increase|in market value||5,278|46,699|
|At 31December 2020|||608,497|603,219|
|Historic|cost||367,137|455,847|
|||||2020|2019|
|---|---|---|---|---|---|
|||||f|f|
|Other|debtors|and|prepayments|2,028|5,245|
##
||||||||||2020|2019|
|---|---|---|---|---|---|---|---|---|---|---|
||||||||||f|6|
|Related party|creditors:||||||||||
|Weavers'
Company||General||Fund|||||331|65|
|Deferred income: rents received|||||in|advance|||2,313|1,786|
|Accruals and|sundry|creditors|||||||11,720|14,684|
|Loan from Fresh Pic|||||||||1,015|997|
|Interest-free|loan from Weavers'||||Company||Benevolent||15,000|15,000|
|Fund|||||||||||
|Total|||||||||30,379|32,532|
|3. Creditors due after||one year|||||||||
||||||||||2020|2019|
||||||||||6|6|
|Housing
loans|for refurbishment||||scheme:||||||
|Loan from Fresh pic|||||||||31,596|31,837|
|Interest-free|loan
from||Weavers'|||Company||Benevolent|||
|Fund|||||||||80,000|95,000|
|Total Housing|Loans||||||||111,596|126,837|
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||||||Designated|Funds|Total|
|---|---|---|---|---|---|---|---|
|||||General|Cyclical|Extraordinary||
|||||Fund|Maintenance|Repair Fund||
||||||Fund|||
|||||2020|2020|2020|2020|
|||||f|f|E|E|
|Balance|1January 2020|||153,266|273,461|325,872|752,599|
|Net incoming
resources||||66,583|7,949|9,440|83,972|
|Transfer|in respect|of current||9,098|(4,342)|(4,756)||
|years repairs and maintenance||||||||
|Transfers|to fund future||repairs|(70,000)|50,000|20,000||
|and maintenance||||||||
|Transfer|to property|fund||(58,395)|||(58,395)|
|Unrealised
gains|||||2,413|2,865|5,278|
|Balance|31December 2020|||100,552|329,481|353,421|783,454|
##
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##
|||General|Designated|Endowment|Total|
|---|---|---|---|---|---|
|||Fund|Funds|Funds||
|||2020|2020|2020|2020|
|||f|E|f|f|
|Tangible|fixed assets|||1,302,944|1,302,944|
|Fixed asset investments|||608,497||608,497|
|Net current assets||100,552|74,405|(16,015)|158,942|
|Creditors|falling due after one|||(111,596)|(111,596)|
|year||||||
|Balance|31December 2020|100,552|682,902|1,175,333|1,958,787|
##
##
|||||Unrestricted|Endowment|Total Funds|
|---|---|---|---|---|---|---|
|||||Fund|Funds||
|||||2019|2019|2019|
|INCOME|||||||
|Income and endowments|from:||||||
|Investments||||22,744||22,744|
|Charitable
activities:|||||||
|Residents'
contributions||||330,425||330,425|
|Total income||||353,169||353,169|
|EXPENDITURE|||||||
|Charitable
activity|||||||
|Almshouse
accommodation|||||||
|Services||||144,287||144,287|
|Management||||59,395||59,395|
|Routine maintenance||||55,918||55,918|
|Depreciation|||||17,288|17,288|
|Maintenance
—major|items|||39,152||39,152|
|Total expenditure||||298,752|17,288|316,040|
|Net income before Investment||gains/(losses)||54,417|(17,288)|37,129|
|Net gains on investments||||46,699||46,699|
|Net income/(expenditure)|forthe year|||101,116|(17,288)|83,828|
|Transfers between
funds|representing||net|(70,452)|70,452||
|addition to the endowment|||||||
|Net movement
in funds||||30,664|53,164|83,828|
|Funds brought
forward||||721,935|1,083,221|1,805,156|
|Funds carried forward||||752,599|1,136,385|1,888,984|
##
##
|HOUSING
PROPERTY (Freehold)|HOUSING
PROPERTY (Freehold)|Buildings||Kitchen &|Roofing||Total|
|---|---|---|---|---|---|---|---|
|||(incl. major||Bathroom|||Housing|
|||repairs)|refurblshments|||Properties||
|Deemed Cost||2019
f||2019
E|2019
f||2019
f|
|A
t 1January 2019||551,970||109,803|627,604||1,289,377|
|Additions||||55,247|||55,247|
|At 31December 2019||551,970||165,050|627,604||1,344,624|
|Depreciation||||||||
|At 1January 2019||12,383||7,990|27,743||48,116|
|Charge for the year||2,760||8,252|6,276||17,288|
|At 31December 2019||15,143||16,242|34,019||65,404|
|Net BookValue||||||||
|At 1January 2019||539,587||101,813|599,861|1,241,261||
|At 31December 2019||536,827||148,808|593,585|1,279,220||
|nrestricted
Funds||||||||
|||||Designated|Funds||Total|
|||General||Cyclical|Extraordinary|||
|||Fund||Maintenance|Repair|||
|||||Fund||||
|||2019||2019|2019||2019|
||||f|f||E|f|
|Balance 1January 2019||165,575||254,668|301,692||721,935|
|Net incoming
resources||42,292||5,550|6,575||54,417|
|Transfer
in respect ofcurrent||39,152||(36,757)|(2,395)|||
|years repairs and maintenance||||||||
|Transfers to fund future|repairs|(70,000)||50,000|20,000|||
|and maintenance||||||||
|Transfer to property
fund||(70,452)|||||(70,452)|
|Unrealised
gains||46,699|||||46,699|
|Balance 31December 2019||153,266||273,461|325,872||752,599|
##
|||General|Designated|Endowment|Total|
|---|---|---|---|---|---|
|||Fund|Funds|Funds||
|||2019|2019|2019|2019|
|||E|f|f|E|
|Tangible|fixed assets|||1,279,220|1,279,220|
|Fixed asset investments||3,886|599,333||603,219|
|Net current assets||149,380||(15,998)|133,382|
|Creditors|falling due after one|||(126,837)|(126,837)|
|year||||||
|Balance|31December 2019|153,266|599,333|1,136,385|1,888,984|
|Value for Mone|Metrics|Metrics|Weavers'|Almshouse|Almshouse|Charities||||
|---|---|---|---|---|---|---|---|---|---|
|||||||||2020|2019|
|Business Health:|||Operating|Margin-|Social housing|||14.74%|5.29%|
||||Operating|margin-|overall|||18.07%|1051/|
||||EBITDA interest cover|||||273047/|1758.14%|
||||New supply as a %||of|current|units|n/a|n/a|
|||||||||(No new units|developed)|
||||Gearing|||||-10,07%|-8.39%|
|Outcomes|||Reinvestment
%||||||4.11%|
|Effective Asset Mana||ement|ROCE|||||3.12%|1.84%|
||||Headline|social housing cost||||9,211|9,520|