| General | Information | ||
|---|---|---|---|
| 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 | lgE Account | 22 |
| Notes | Unrestricted | Endowment | Total funds | Total | ||
|---|---|---|---|---|---|---|
| funds | funds | |||||
| 2021 | 2021 | 2021 | 2020 | |||
| INCOME | ||||||
| Income and endowments | from: | |||||
| Investments | 16,740 | 16,740 | 17,552 | |||
| Charitable activities: |
||||||
| Residents' contributions |
343,495 | 343,495 | 339,427 | |||
| Total Income | 360,235 | 360,235 | 356,979 | |||
| EXPENDITURE | ||||||
| Charitable activity |
||||||
| Almshouse accommodation |
||||||
| Services | 152,558 | 152,558 | 128,060 | |||
| Management | 65,137 | 65,137 | 66,905 | |||
| Routine maintenance | 54,403 | 54,403 | 68,945 | |||
| Depreciation | 25,727 | 25,727 | 19,447 | |||
| Maintenance —major |
items | 240,981 | 240,981 | 9,097 | ||
| Total expenditure | 4 | 513,079 | 25,727 | 538,806 | 292,454 | |
| Net (expenditure)/income | before | (152,844) | (25,727) | (178,571) | 64,525 | |
| investment gains |
||||||
| Net gains on investments | 68,951 | 68,951 | 5,278 | |||
| Net (expenditure)/Income | for the | (83,893) | (25,727) | (109,620) | 69,803 | |
| year Transfers between funds |
(157,714) | 157,714 | ||||
| Net movement in funds |
(241,607) | 131,987 | (109,620) | 69,803 | ||
| Funds brought forward |
783,454 | 1,175,333 | 1,958,787 | 1,888,984 | ||
| Funds carried forward | 541,847 | 1,307,320 | 1,849,167 | 1,958,787 |
| Notes | 2021 | 2021 | 2020 | 2020 | ||||
|---|---|---|---|---|---|---|---|---|
| E | f | E | ||||||
| Fixed Assets | ||||||||
| Tangible: | ||||||||
| Housing | property | 1,419,683 | 1,302,944 | |||||
| Investments | 10 | 527,449 | 608,497 | |||||
| 1,947,132 | 1,91.1,441 | |||||||
| Current Assets | ||||||||
| Debtors | 2,343 | 2,028 | ||||||
| Cash at bank | and in hand | 52,250 | 187,293 | |||||
| 54,593 | 189,321 | |||||||
| Creditors | ||||||||
| Amounts falling due within one |
56,227 | 30,379 | ||||||
| year | ||||||||
| Net current | assets | (1,633) | 158,942 | |||||
| Total assets | less current | liabilities | 1,945,498 | 2,070,383 | ||||
| Creditors: | ||||||||
| Amounts falling due after one year |
13 | 96,331 | 111,596 | |||||
| Net assets | 1,849,167 | 1,958,787 | ||||||
| Funds | ||||||||
| Unrestricted | Funds | 14 | 541,847 | 783,454 | ||||
| Endowment | Funds | 15 | 1,307,320 | 1,175,333 | ||||
| Total | 1,849,167 | 1,958,787 |
| 2021 | 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Net movement in funds |
(109,620) | 69,803 | |||||||
| Investment gains |
(68,951) | (5,278) | |||||||
| Deduct: investment income shown |
in investing | activities | (16,740) | (17,552) | |||||
| Add: depreciation | 25,727 | 19,447 | |||||||
| (Increase)/Decrease in debtors |
(315) | 3,217 | |||||||
| Increase/(Decrease) in creditors |
(excluding | loans) | 25,848 | (2,153) | |||||
| Net cash from operating activities |
(144,051) | 67,484 | |||||||
| Cash flows from Investing activities |
|||||||||
| Investment income |
16,740 | 17,552 | |||||||
| Sale of investments | 150,000 | ||||||||
| Purchase oftangible fixed assets |
(142,466) | (43,171) | |||||||
| Net cash from investing activities |
24,274 | (25,619) | |||||||
| Cash flows from financing activities |
|||||||||
| Repayment of loans |
(15,265) | (15,241) | |||||||
| (Decrease)/Increase in cash and |
cash equivalents | In the year | (135,043) | 26,624 | |||||
| Cash and cash equivalents at the |
start ofthe year | 187,293 | 160,669 | ||||||
| Total cash and cash equivalents |
at the | end | of | the year | required | for | 52,250 | 187,293 | |
| operational purposes |
| Staff costs: | 2021 f |
2020 E |
|---|---|---|
| Wages and salaries | 80,422 | 70,209 |
| Social security costs Pension contributions |
7,263 3,457 |
6,278 3,135 |
| Other | 1,115 | (70) |
| 92,257 | 79,552 |
| Turnover | Operating | Turnover | Operating | ||||||
|---|---|---|---|---|---|---|---|---|---|
| costs | costs | ||||||||
| 2021 | 2021 | 2020 | 2020 | ||||||
| f | f | f | f | ||||||
| Income | and | Expenditure | from | ||||||
| Lettlngs | |||||||||
| Residents' contributions |
362,410 | 354,995 | |||||||
| Less: voids | (18,915) | (15,568) | |||||||
| Housing | Income and expenditure | 343,495 | (535,753) | 339,427 | (289,379) | ||||
| Investment | income | 16,740 | 17,552 | ||||||
| Interest | payable and similar |
(3,053) | (3,075) | ||||||
| charges Total |
(note 5) | 360235 | 538,806 | 356,979 | $292,454j | ||||
| Net (expenditure)/Income | 178,571 | 64,525 | |||||||
| 5. Interest | payable and similar charges | ||||||||
| 2021 | 2020 | ||||||||
| f | f | ||||||||
| On loans | wholly or partially | ||||||||
| repayable | in | more than | 5years | 3,053 | 3,075 | ||||
| 6. Net Income | |||||||||
| Net incoming | resources | are stated | after | charging | 2021 E |
2020f | |||
| Depreciation | —tangible | fixed assets | 25,727 | 19,447 | |||||
| Auditors' | remuneration | (including | VAT) | in their capacity | as | ||||
| auditors | 6,620 | 5,900 | |||||||
| 7. Taxatlon |
| HOUSING PROPERTY |
HOUSING PROPERTY |
Buildings | Buildings | Kitchen & | Boiler | Boiler | Roofing | Roofing | Total | Total | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| (Freehold) | (Incl. | maJor | Bathroom | replacements | Housing | Housing | |||||||||
| repairs) | refurblshments | Property | Properly | ||||||||||||
| Deemed cost | 2021 E |
2021 f |
2021 E |
2021 E |
2021 f |
2020 f |
|||||||||
| At 1January 2021 | 551,970 | 208,221 | 627,604 | 1,387,795 | 1,344,624 | ||||||||||
| Additions | 52,066 | 60,400 | 30,000 | - | 142,466 | 43,171 | |||||||||
| At 31December | 2021 | 604,036 | 268,621 | 30,000 | 627,604 | 1,530,261 | 1,387,795 | ||||||||
| Depreciation | |||||||||||||||
| At 1January 2021 | 17,903 | 26,653 | 40,295 | 84,851 | 65,404 | ||||||||||
| Charge for the year | 3,020 | 13,431 | 3,000 | 6,276 | 25,727 | 19,447 | |||||||||
| At 31December | 2021 | 20,923 | 40,084 | 3,000 | 46,571 | 110,578 | 84,851 | ||||||||
| Net Book Value | |||||||||||||||
| At 1January 2021 | 534,067 | 181,568 | 587,309 | 1,302,944 | 1,279,220 | ||||||||||
| At 31December | 2021 | 583,113 | 228,537 | 27,000 | 581,033 | 1,419,683 | 1,302,944 | ||||||||
| dditions in the year represented |
the cost | of refurbishing | the | kitchens | and/or | bathrooms | in 6 flats (2020:6 flats), | ||||||||
| eplacing boilers in 7 flats (2020: no flats) and nsured value ofthe Almshouses isf8,496,641. |
creating new accommodation |
for | the | Deputy Warden. | The current | ||||||||||
| .Investments | |||||||||||||||
| 2021f | 2020 f |
||||||||||||||
| Market value at | 1January 2021 | 608,498 | 603,219 | ||||||||||||
| Disposals | (150,000) | ||||||||||||||
| Unrealised gains |
68,951 | 5,279 | |||||||||||||
| Market value at | 31December | 2021 | 527,449 | 608,498 | |||||||||||
| Historic cost | 304,339 | 367,137 | |||||||||||||
| he investments | are managed | as | part of the Weavers' Company |
charitable | funds. | ||||||||||
| . Debtors due within one year | |||||||||||||||
| 2021 | 2020 | ||||||||||||||
| f | f | ||||||||||||||
| Related party debtors: Weavers' Company |
Benevolent Fund |
520 | 141 | ||||||||||||
| Other debtors | and prepayments | 1,823 | 1,887 | ||||||||||||
| Total | 2,343 | 2,028 |
| 2021 | 2020 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 6 | f | |||||||||
| Related party creditors: | ||||||||||
| Weavers' | Company | General | Fund | 40 | 331 | |||||
| Deferred income: rents received | in | advance | 898 | 2,313 | ||||||
| Accruals and | sundry | creditors | 39,257 | 11,720 | ||||||
| Loan from Fresh Pic | 1,032 | 1,015 | ||||||||
| Interest-free | loan from Weavers' | Company | Benevolent | 15,000 | 15,000 | |||||
| Fund | ||||||||||
| Total | 56,227 | 30,379 | ||||||||
| 3. Creditors due after | one year | |||||||||
| 2021 | 2020 | |||||||||
| f | 8 | |||||||||
| Housing loans for refurbishment |
scheme: | |||||||||
| Loan from Fresh pic | 31,331 | 31,596 | ||||||||
| Interest-free | loan from |
Weavers' | Company | Benevolent | ||||||
| Fund | 65,000 | 80,000 | ||||||||
| Total Housing | Loans | 96,331 | 111,596 |
| Designated | Funds | ||||||
|---|---|---|---|---|---|---|---|
| General | Cyclical | Extraordinary | Total | ||||
| Fund | Maintenance | Repair Fund | |||||
| Fund | |||||||
| 2021 | 2021 | 2021 | 2021 | ||||
| f | E | E | E | ||||
| Balance | 1January 2021 | 100,552 | 329,481 | 353,421 | 783,454 | ||
| Net (outgoing)/incoming | (169,584) | 6,454 | 10,286 | (152,844) | |||
| Transfer | in respect | of current | 240,981 | (240,981) | |||
| years repairs and maintenance | |||||||
| Transfers | to fund future | repairs | (38,150) | 28,150 | 10,000 | ||
| and maintenance | |||||||
| Transfer | to property | fund | (105,648) | (52,066) | (157,714) | ||
| Unrealised gains |
20,293 | 48,658 | 68,951 | ||||
| Balance | 31December 2021 | 28,151 | 143,397 | 370,299 | 541,847 |
| General | Designated | Endowment | Total | ||
|---|---|---|---|---|---|
| Fund | Funds | Funds | |||
| 2021 | 2021 | 2021 | 2021 | ||
| f | f | E | F | ||
| Tangible | fixed assets | 1,419,683 | 1,419,683 | ||
| Fixed asset investments | 527,449 | 527,449 | |||
| Net current assets | 28,151 | (13,753) | (16,032) | (1,634) | |
| Creditors | Falling due after one | (96,331) | (96,331) | ||
| year | |||||
| Balance | 31December 2021 | 28,150 | 513,696 | 1,307,320 | 1,849,167 |
| Notes | Unrestricted | funds | Endowment | Total funds | ||
|---|---|---|---|---|---|---|
| funds | ||||||
| 2020 | 2020 | 2020 | ||||
| INCOME | f | f | ||||
| Income and endowments | from: | |||||
| Investments | 17,552 | 17,552 | ||||
| Charitable activities: |
||||||
| Residents' contributions |
339,427 | 339,427 | ||||
| Total Income | 356,979 | 356,979 | ||||
| EXPENDITURE | ||||||
| Charitable activity |
||||||
| Almshouse accommodation |
||||||
| Services | 128,060 | 128,060 | ||||
| Management | 66,905 | 66,905 | ||||
| Routine maintenance | 68,945 | 68,945 | ||||
| Depreciation | 19,447 | 19,447 | ||||
| Maintenance —major |
items | 9,097 | 9,097 | |||
| Total expenditure | 273,007 | 19,447 | 292,454 | |||
| Net income/(expenditure) | before | 83,972 | (19,447) | 64,525 | ||
| investment gains |
||||||
| Net gains on Investments | 5,278 | 5,278 | ||||
| Net Income/(expenditure) | for the year | 89,250 | (19,447) | 69,803 | ||
| Transfers between funds |
representing | (58,395) | 58,395 | |||
| Net movement in funds |
30,855 | 38,948 | 69,803 | |||
| Funds broughtforward | 752,599 | 1,136,385 | 1,888,984 | |||
| Funds carried forward | 783,454 | 1,175,333 | 1,958,787 |
| HOUSING PROPERTY (Freehold) |
Buildings | Kitchen & | Roofing | Total |
|---|---|---|---|---|
| (incl. major | Bathroom | Housing | ||
| repairs) | refurbishments | Properties | ||
| 2020 | 2020 | 2020 | 2020 | |
| Deemed Cost | E | f | 6 | f |
| At 1January 2020 | 551,970 | 165,050 | 627,604 | 1,344,624 |
| Additions | 43,171 | 43,171 | ||
| At 31December 2020 | 551,970 | 208,221 | 627,604 | 1,387,795 |
| Depreciation | ||||
| At 1January 2020 | 15,143 | 16,242 | 34,019 | 65,404 |
| Charge for the year | 2,760 | 10,411 | 6,276 | 19,447 |
| At 31December 2020 | 17,903 | 26,653 | 40,295 | 84,851 |
| Net BookValue | ||||
| At 1January 2020 | 536,827 | 148,808 | 593,585 | 1,279,220 |
| At 31December 2020 | 534,067 | 181,568 | 587,309 | 1,302,944 |
| Designated | Funds | Total | ||||||
|---|---|---|---|---|---|---|---|---|
| General | Cyclical | Extraordinary | ||||||
| Fund | Maintenance | Repair | Fund | |||||
| Fund | ||||||||
| 2020f | 2020 | 2020 E |
2020 f |
|||||
| 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 |
| General | Designated | Endowment | Total | ||
|---|---|---|---|---|---|
| Fund | Funds | Funds | |||
| 2020 | 2020 | 2020 | 2020 | ||
| f | 6 | f | E | ||
| 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 |
| Value for Mone | Metrics | Metrics | Weavers' | Almshouse Charities |
Almshouse Charities |
Almshouse Charities |
||
|---|---|---|---|---|---|---|---|---|
| 2021 | 2020 | |||||||
| Business Health: | Operating | Margin- | Social housing | -55.979o | 14.749o | |||
| Operating | margin- | overall | -49.579o | 18.08o/o | ||||
| EBITDA Interest | cover | -5006.639o | 2730.769o | |||||
| New supply as | a 96 | of current units | n/a | n/a | ||||
| (No new units | developed) | |||||||
| Gearing | -0.329o | -10.079o | ||||||
| Outcomes | Reinvestment | 96 | 9.319o | 3.119' | ||||
| Effective Asset | Mana | ement | ROCE | -9.18M | 3.129' | |||
| Headline | social housing cost | 11,757 | 9,211 |