| INDEX | ||
|---|---|---|
| Page | ||
| 1 | Index and Trustees | |
| 2 | Trustees Report | |
| 4 | Accountants Report | |
| January | 20 | Statement of Comprehensive Income |
| 6 | Statement of Financial Position | |
| 7 | Statement of Changes in Equity & Reserves | |
| 8−13 | Notes to the Financial Statements | |
| The following pages do not form part of the statutory accounts | ||
| 14 | Detailed Income and Expenditure Account | |
| 15 | Detailed Expenditure | |
| 16 | Schedule of Land and Buildings | |
| 17 | Schedule of Investments |
| 2021 | 2020 | ||||||
|---|---|---|---|---|---|---|---|
| Notes | |||||||
| TURNOVER | 1.3 | ||||||
| Service charges receivable | 32,911 | 31,957 | |||||
| Social Housing Activity Expenditure | |||||||
| Housing Accommodation (31 units, 2020 31 units) | |||||||
| Services | 17,106 | 18,941 | |||||
| Routine Maintenance | 19,647 | 25,328 | |||||
| Management | 5,952 | 8,134 | |||||
| Depreciation of Housing Properties | 29,924 | 29,383 | |||||
| 72,629 | 81,786 | ||||||
| Operating (deficit) from Social Housing Activities | (39,718) | (49,829) | |||||
| Other Operating Income | 59,688 | 56,123 | |||||
| (Loss)/Gain on Disposal of Investments | |||||||
| Other Interest Receivable and Other Income | 3 | 5,547 | 6,108 | ||||
| Net (Deficit)/Surplus from Social Housing Activities | £ | 25,517 | £ | 12,402 | |||
| MOVEMENT ON REVENUE RESERVES | |||||||
| Balance Brought Forward | 831,722 | 819,320 | |||||
| Net (Deficit)/Surplus from Social Housing Activities | 25,517 | 12,402 | |||||
| Realisation on Sale of Investment−transfer | |||||||
| from Investment Revaluation Reserve | 10 | ||||||
| £ | 857,239 | £ | 831,722 |
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Notes | |||||
| FIXED ASSETS | |||||
| Housing Properties: | 6 | 662,612 | 651,955 | ||
| Other Fixed Assets: | |||||
| Investments | 7.1 | 162,112 | 146,882 | ||
| Other Land & Buildings | 7.2 | 2,100,000 | 2,100,000 | ||
| Fixtures, Fittings and Equipment | |||||
| 2,924,724 | 2,898,837 | ||||
| CURRENT ASSETS | |||||
| Debtors | 8 | 9,901 | 8,854 | ||
| Cash at Bank and in Hand | 69,554 | 71,041 | |||
| 79,455 | 79,895 | ||||
| CREDITORS: Amounts Falling Due | 9 | 7,892 | 21,640 | ||
| Within One Year | 71,563 | 58,255 | |||
| TOTAL NET ASSSETS / (LIABILITIES) | £ 2,996,287 | £ 2,957,092 | |||
| RESERVES | |||||
| Investment Revaluation Reserve | 10 | 2,138,320 | 2,124,672 | ||
| Restricted Reserves | 11 | 728 | 698 | ||
| Revenue Reserve | Pages | 857,239 | 831,722 | ||
| TOTAL RESERVES | £ 2,996,287 | £ 2,957,092 |
| Income & | ||||
|---|---|---|---|---|
| Expenditure | Revaluation | Restricted | ||
| reserve | reserve | reserve | Total | |
| At 1 January 2020 as previously stated | 831,722 | 2,124,672 | 698 | 2,957,092 |
| Changes on Transition to FRS102 | − | − | − | |
| At 1 January 2020 as restated | 831,722 | 2,124,672 | 698 | 2,957,092 |
| Surplus/deficit for the year | 25,517 | 13,648 | 30 | 39,195 |
| Revaluation of Tangible fixed assets | − | − | ||
| Total Comprehensive Income | 857,239 | 2,138,320 | 728 | 2,996,287 |
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| None of the Trustees received any emoluments. | |||||
| Fees charged by collecting Agents in respect of the services | |||||
| of the Collector (including VAT) | £ | 7,440 | £ | 11,520 | |
| 2021 | 2020 | ||||
| 3. | INTEREST RECEIVABLE AND OTHER INCOME | ||||
| Bank Deposit Interest | 25 | 28 | |||
| Misc Income | 70 | 50 | |||
| Investment Income | 5,452 | 6,030 | |||
| £ | 5,547 | £ | 6,108 |
| 2021 | 2020 | |||
|---|---|---|---|---|
| Total | Total | |||
| Housing | Housing | |||
| Properties | Properties | |||
| Cost: | ||||
| As at 1 January 2021 | 969,944 | 953,302 | ||
| Additions | 40,581 | 16,642 | ||
| Other Grants | ||||
| As at 31 December 2021 | £ | 1,010,525 | £ | 969,944 |
| Depreciation: | ||||
| As at 1 January 2021 | 317,989 | 288,607 | ||
| Charge for the Year | 29,924 | 29,382 | ||
| As at 31 December 2021 | £ | 347,913 | £ | 317,989 |
| Net Book Value | £ | 662,612 | £ | 651,955 |
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| 7.1 | Investments | ||||
| Valuation: | |||||
| As at 1 January 2021 | 146,882 | 156,439 | |||
| Additions | 1,582 | 1,931 | |||
| Disposals at Book Value | |||||
| Revaluations | 13,648 | (11,488) | |||
| As at 31 December 2021 | £ | 162,112 | £ | 146,882 | |
| The investments comprise M & G Securities Ltd − | |||||
| NAACIF Common Investment Fund as follows: | |||||
| 118188 (2020 −118188) Income Shares | 107,728 | 98,829 | |||
| 834 (2020 −834) Accumulation Shares | 54,384 | 48,053 | |||
| Carrying amount at 31 December 2021 | £ | 162,112 | £ | 146,882 | |
| Historic Cost as at 31 December 2021 | £ | 82,908 | £ | 81,326 |
| 2020 | 2019 | |||||||
|---|---|---|---|---|---|---|---|---|
| 7.2 | Freehold Land held as an investment to | produce | ||||||
| Income for the Charity | ||||||||
| Valuation: | ||||||||
| As at 1 January 2020 | 2,100,000 | 2,100,000 | ||||||
| Revaluations | ||||||||
| Carrying amount at 31 December 2021 | £ | 2,100,000 | £ | 2,100,000 | ||||
| The valuation of the freehold land is the Board's | best estimate of fair value. | |||||||
| Historic Cost as at 31 December 2021 | ||||||||
| All gifted to the Charity with improvements | ||||||||
| stated at cost | £ | 40,883 | £ | 40,883 | ||||
| 8. | DEBTORS: amounts falling due within one year | |||||||
| 2021 | 2020 | |||||||
| Other Debtors | ||||||||
| Prepayments ana Accrued Income | 9,901 | 8,854 | ||||||
| £ | 9,901 | £ | 8,854 | |||||
| 9. | CREDITORS: amounts falling due within one year | 2021 | 2020 | |||||
| Other Creditors and Accruals | £ | 7,892 | £ | 21,640 | ||||
| Creditors are paid within thirty days of receipt of | invoice | from | the supplier. | |||||
| 10. | INVESTMENT REVALUATION RESERVE | 2021 | 2020 | |||||
| As at 1 January 2021 | 2,124,672 | 2,136,160 | ||||||
| Increase / (decrease) in value | 13,648 | (11,488) | ||||||
| Realisation on sale −transfer to Revenue Reserve | ||||||||
| As at 31 December 2021 | £ | 2,138,320 | £ | 2,124,672 | ||||
| 11. | RESTRICTED RESERVES | Total | Joshua Nunn | John Fiske | ||||
| Charity | Charity | |||||||
| As at 1 January 2021 | 698 | 277 | 421 | |||||
| Investment Income | 30 | 12 | 18 | |||||
| As at 31 December 2021 | 728 | £ | 289 | 439 | ||||
| As at 1 January 2020 | 661 | £ | 262 | 399 | ||||
| As at 31 December 2020 | £ | 698 | £ | 277 | 421 | |||
| −12− |
| 12. | CAPITAL | COMMITMENTS | ||
|---|---|---|---|---|
| 2021 | 2020 | |||
| Capital Expenditure that has been | ||||
| contracted for but not provided for in the | ||||
| Financial Statements | £ 20,000 | £15,000 | ||
| Capital Expenditure that has been | ||||
| authorised by the Trustees but has not yet | ||||
| been contracted for | £NIL | £NIL |
| 2021 | 2020 | |||
|---|---|---|---|---|
| INCOME | ||||
| Maintenance Contributions | 32,911 | 31,957 | ||
| Bank Deposit Income | 25 | 28 | ||
| Interest on Endowed Capital | 5,452 | 6,030 | ||
| Gain on Disposal of Investments | ||||
| Miscellaneous Income | 70 | 50 | ||
| Rental Income: | ||||
| Agricultural Rents | 63,940 | 60,455 | ||
| Wayleave Rentals | 278 | 278 | ||
| 64,218 | 60,733 | |||
| Less: Insurance | 4,530 | 4,377 | ||
| Repairs and maintenance | 233 | |||
| 4,530 | 4,610 | |||
| 59,688 | 56,123 | |||
| TOTAL INCOME | 98,146 | 94,188 | ||
| TOTAL EXPENDITURE (per page 15) | 72,629 | 81,786 | ||
| (DEFICIT) / SURPLUS FOR THE YEAR | 25,517 | 12,402 | ||
| Accumulated Surplus from Previous Years | 831,722 | 819,320 | ||
| Transfer from Investment revaluation reserve | − | − | ||
| Surplus on General Fund Carried Forward | £ 857,239 | £ 831,722 |
| 2021 | 2020 | ||
|---|---|---|---|
| SERVICE COSTS | |||
| Collector's Fees −50% Service | 3,720 | 5,760 | |
| Care and Catering − | |||
| Heating Allowance | 2,780 | 2,970 | |
| Christmas Gifts | 900 | 990 | |
| TV Licences | 45 | 83 | |
| Insurances | 646 | 2,026 | |
| Water Rates | 5,495 | 6,573 | |
| Hearing & Lighting −Row Chapel | 223 | 158 | |
| Repairs and Cleaning −Row Chapel | 481 | 381 | |
| Office costs | 2,816 | ||
| £ 17 106 | £ | 18.941 | |
| REPAIRS AND MAINTENANCE | |||
| George Street Almshouses | 11,212 | 13,971 | |
| Magdalen Road Almshouses | 2,499 | 6,054 | |
| Groves Court Almshouses | 2,557 | 536 | |
| Benton Street Almshouses | 3,379 | 4,767 | |
| £ 19,647 | £ | 25,328 | |
| MANAGEMENT COSTS | |||
| Collector's Fees −50% Management | 3,720 | 5,760 | |
| Affiliation Fee/Subscriptions | 730 | 625 | |
| Accountancy Fees | 1,260 | 1,260 | |
| Meeting Expenses | 37 | ||
| Professional fees | |||
| Postage & stationery | 100 | ||
| Miscellaneous costs | 142 | ||
| Bank charges | 242 | 210 | |
| £ 5,952 | £ | 8,134 | |
| DEPRECIATION OF HOUSING PROPERTIES − | |||
| Improvements − George Street |
14,723 | 15,117 | |
| Magdalen Road | 1,690 | 754 | |
| Benton Street | 13,511 | 13,512 | |
| £29,924 | £ | 29,383 | |
| TOTAL EXPENDITURE | £ 72,629 | £ | 81,786 |
| Notes | At cost | 2020 | |||||
|---|---|---|---|---|---|---|---|
| 1. | USED FOR THE PURPOSES OF THE CHARITY | 1 | |||||
| (a) | 14 Almshouses and Chapel on land having | ||||||
| frontage to George Street, Hadleigh | 3 | Negligible | Negligible | ||||
| Improvements | 305,280 | 294,089 | |||||
| (b) | 3 New Almshouses on land in George Street, | ||||||
| Hadleigh | 2 | 16,851 | 16,851 | ||||
| Improvements | 8,220 | 8,220 | |||||
| (c) | 5 Almshouses on land having frontage to | ||||||
| Benton Street, Hadleigh | 3 | Negligible | Negligible | ||||
| Improvements | 270,211 | 270,211 | |||||
| (d) | 7 Almshouses on land having frontage to | ||||||
| Magdalen Road, Hadleigh | 2 | 105,650 | 105,650 | ||||
| Improvements | 50,731 | 21,341 | |||||
| (e) | 2 Almshouses Groves Court, Inkerman | ||||||
| Terrace, Hadleigh | 2 | 253,582 | 253,582 | ||||
| £ 1,010,525 | £ | 969,944 | |||||
| 2. | HELD AS AN INVESTMENT TO PRODUCE | ||||||
| INCOME FOR THE CHARITY | 4 | ||||||
| (a) | Maskells Hall Farm with land of about 321 | ||||||
| acres in parishes of Offton, Elmsett, | |||||||
| Whatfield and Naughton −as let | Gifted | Gifted | |||||
| Improvements | 40,883 | 40,883 | |||||
| (b) | Peyton Farm, Whatfield, about 139 acres in | ||||||
| parishes of Whatfield and Aldham −as let | Gifted | Gifted | |||||
| Land at Whatfield, about 8 acres −as let | Gifted | Gifted | |||||
| (c) | 10 acres of land or thereabouts, in parishes | ||||||
| of Po!stead and Layham −as let | Gifted | Gifted | |||||
| (d) | 9.5 acres of land in parish of Whatfield −as let | Gifted | Gifted | ||||
| (e) | 2 acres of allotment land or thereabouts at | ||||||
| Gallows Hill, Hadleigh −as let | Gifted | Gifted | |||||
| (f) | 2 acres of land or thereabouts known as | ||||||
| Bridge Meadow, Hadleigh −as let | Gifted | Gifted | |||||
| (g) | 22.5 acres or thereabouts at Foxearth, Essex − | ||||||
| as let (Mary Clarks Foxearth Charity) | Gifted | Gifted | |||||
| (h) | Yearly wayleaves to Eastern Electricity Board | Gifted | Gifted | ||||
| £ | 40,883 | £ | 40,883 |
| Market | Value | Value | ||
|---|---|---|---|---|
| 2021 | 2020 | Cost | ||
| 1168 (2020 −1168) Income Shares (S A Rand Charity) | 1,065 | 977 | Gifts | |
| 380 (2020 −380) Income Shares (J R Rand Charity) | 346 | 318 | Gifts | |
| 2953 (2020 −2953) Income Shares (A F Spooner Charity) | 2,692 | 2,469 | Gifts | |
| 1444 (2020−1444) Income Shares (G R Jackson Charity) | 1,316 | 1,208 | Gifts | |
| 112243 (2020 −112243) Income Shares (Endowed Capital) | 102,309 | 93,857 | 41,172 | |
| 509 (2020 −509) Accumulation Shares Extra−Ordinary Repair | ||||
| Fund | 53,337 | 47,128 | 41,007 | |
| 4 (2020 −4) Joshua Nunn Charity | 419 | 370 | 290 | |
| 6 (2020 −6) John Fiske Charity | 628 | 555 | 439 | |
| £162,112 | £ | 146,882 | £ 82,908 |