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|General|Information|||
|---|---|---|---|
|Trustee's|Report||2-5|
|Independent<br>Auditor's||Report|6-8|
|Financial|Statements|||
|Statement<br>of Financial||Activities||
|Balance|Sheet||10|
|Cash flow statement||||
|Notes to|the Financial|Statements|12-21|
|Detailed|lgE Account||22|





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|||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<br>activities:|||||||
|Residents'<br>contributions|||343,495||343,495|339,427|
|Total Income|||360,235||360,235|356,979|
|EXPENDITURE|||||||
|Charitable<br>activity|||||||
|Almshouse<br>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<br>—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<br>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<br>Transfers<br>between<br>funds|||(157,714)|157,714|||
|Net movement<br>in funds|||(241,607)|131,987|(109,620)|69,803|
|Funds brought<br>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<br>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<br>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|





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|||||||||2021|2020|
|---|---|---|---|---|---|---|---|---|---|
|Net movement<br>in funds||||||||(109,620)|69,803|
|Investment<br>gains||||||||(68,951)|(5,278)|
|Deduct: investment<br>income shown||in investing||activities||||(16,740)|(17,552)|
|Add: depreciation||||||||25,727|19,447|
|(Increase)/Decrease<br>in debtors||||||||(315)|3,217|
|Increase/(Decrease)<br>in creditors|(excluding||loans)|||||25,848|(2,153)|
|Net cash from operating<br>activities||||||||(144,051)|67,484|
|Cash flows from Investing<br>activities||||||||||
|Investment<br>income||||||||16,740|17,552|
|Sale of investments||||||||150,000||
|Purchase oftangible<br>fixed assets||||||||(142,466)|(43,171)|
|Net cash from investing<br>activities||||||||24,274|(25,619)|
|Cash flows from financing<br>activities||||||||||
|Repayment<br>of loans||||||||(15,265)|(15,241)|
|(Decrease)/Increase<br>in cash and|cash equivalents||||In the year|||(135,043)|26,624|
|Cash and cash equivalents<br>at the|start ofthe year|||||||187,293|160,669|
|Total<br>cash and<br>cash equivalents||at the|end|of|the year|required|for|52,250|187,293|
|operational<br>purposes||||||||||





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|Staff costs:|2021<br>f|2020<br>E|
|---|---|---|
|Wages and salaries|80,422|70,209|
|Social security costs<br>Pension contributions|7,263<br>3,457|6,278<br>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'<br>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<br>and similar||||||(3,053)||(3,075)|
|charges <br>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<br>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||||||||||



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|HOUSING<br>PROPERTY|HOUSING<br>PROPERTY||Buildings|Buildings||Kitchen &||Boiler|Boiler||Roofing|Roofing||Total|Total|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|(Freehold)||(Incl.||maJor||Bathroom|replacements|||||||Housing|Housing|
||||repairs)||refurblshments|||||||||Property|Properly|
|Deemed cost||||2021<br>E||2021<br>f||2021<br>E||||2021<br>E||2021<br>f|2020<br>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<br>in the year represented||||the cost|of refurbishing||the|kitchens|and/or||bathrooms|||in 6 flats (2020:6 flats),||
|eplacing<br>boilers<br>in 7 flats (2020: no flats) and <br>nsured<br>value ofthe Almshouses<br>isf8,496,641.||||||creating<br>new accommodation|||||for|the|Deputy Warden.||The current|
|.Investments||||||||||||||||
|||||||||||||||2021f|2020<br>f|
|Market value at|1January 2021||||||||||||608,498||603,219|
|Disposals|||||||||||||(150,000)|||
|Unrealised<br>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'<br>Company||||charitable||funds.||||||
|. Debtors due within one year||||||||||||||||
|||||||||||||||2021|2020|
|||||||||||||||f|f|
|Related party debtors:<br>Weavers'<br>Company||Benevolent<br>Fund||||||||||||520|141|
|Other debtors|and prepayments|||||||||||||1,823|1,887|
|Total||||||||||||||2,343|2,028|



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||||||||||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<br>loans for refurbishment|||||scheme:||||||
|Loan from Fresh pic|||||||||31,331|31,596|
|Interest-free|loan<br>from||Weavers'|||Company||Benevolent|||
|Fund|||||||||65,000|80,000|
|Total Housing|Loans||||||||96,331|111,596|



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||||||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<br>gains|||||20,293|48,658|68,951|
|Balance|31December 2021|||28,151|143,397|370,299|541,847|



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|||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|



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|||Notes|Unrestricted|funds|Endowment|Total funds|
|---|---|---|---|---|---|---|
||||||funds||
|||||2020|2020|2020|
|INCOME||||f||f|
|Income and endowments|from:||||||
|Investments||||17,552||17,552|
|Charitable<br>activities:|||||||
|Residents'<br>contributions|||339,427|||339,427|
|Total Income|||356,979|||356,979|
|EXPENDITURE|||||||
|Charitable<br>activity|||||||
|Almshouse<br>accommodation|||||||
|Services||||128,060||128,060|
|Management||||66,905||66,905|
|Routine maintenance||||68,945||68,945|
|Depreciation|||||19,447|19,447|
|Maintenance<br>—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<br>gains|||||||
|Net gains on Investments||||5,278||5,278|
|Net Income/(expenditure)|for the year|||89,250|(19,447)|69,803|
|Transfers<br>between<br>funds|representing|||(58,395)|58,395||
|Net movement<br>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|





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|HOUSING<br>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<br>E|2020<br>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<br>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|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<br>Charities|Almshouse<br>Charities|Almshouse<br>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|