| CONTENTS | PAGE | ||
|---|---|---|---|
| Report ofthe Executive | Committee | 1-3 | |
| Statement ofExecutive | Committee's | Responsibilities | |
| Independent Examiner's |
Report | ||
| Statement ofFinancial |
Activities | ||
| Balance Sheet | |||
| Notes to the Financial Statements | 8 —13 |
| Independent | Examiners | A H Cross 8 Co Limited |
|---|---|---|
| Chartered Certified Accountants |
||
| 16Quay Street | ||
| Newport | ||
| Isle ofWight | ||
| PO30 5BG | ||
| Bankers | Lloyds Bank pic | |
| 35 Union Street | ||
| Ryde | ||
| Isle ofWight | ||
| PO33 2LE | ||
| Solicitors | Robinson Jarvis SRolf | |
| 18Melville Street | ||
| Ryde | ||
| Isle ofWight | ||
| PO33 2AP | ||
| Investment | Advisors | Charles Stanley R Co Ltd |
| 55 Bishopsgate | ||
| London | ||
| EC2N 3AS |
| Notes | 2023 | 2022 | |||||
|---|---|---|---|---|---|---|---|
| INCOMING RESOURCES | |||||||
| Incoming resources from | operating | activities in furtherance | ofthe Charity's | objects: | |||
| Residents' charges | 179,794 | 172,382 | |||||
| Investment income |
30,222 | 29,015 | |||||
| Other income | 1,000 | ||||||
| Rental income | 2,400 | 2,400 | |||||
| Grants received | |||||||
| Total incoming resources | 213416 | 203797 | |||||
| RESOURCES EXPENSES | |||||||
| Charitable expenditure in |
furtherance | ofthe Charity's | objects: | ||||
| Repairs and maintenance Service costs |
17,437 169,206 |
11,982 165,762 |
|||||
| Management and administration |
24 428 | 24 341 | |||||
| Total resources expended | 211071 | 202 085 | |||||
| Net incoming resources Unrealised (losses)/gains |
on investments | 2,345 ~56771 |
1,712 34689 |
||||
| (54,426) | 36,401 | ||||||
| Total funds brought forward |
1 534 323 | 1497922 | |||||
| Total funds carried forward | Ri1479~ | R~l-)~4 |
| BALANCE SHEET | ||||
|---|---|---|---|---|
| FOR THE YEAR ENDED 31 | MARCH 2023 | |||
| Notes | 2023 | 2022 | ||
| TANGIBLE FIXED ASSETS | ||||
| Housin Land and Buildin |
s | |||
| Gross cost | 811,890 | 797,007 | ||
| Social Housing grant Depreciation |
41,007 138812 |
41,007 126585 |
||
| Net book value | 632,071 | 629,415 | ||
| Furnishin sand E ui ment |
10 | 9 232 | 11879 | |
| 641,303 | 641,294 | |||
| INTANGIBLE FIXED ASSETS | ||||
| Investments | 692 044 | 748815 | ||
| TOTAL FIXED ASSETS | 1 333347 | 1 390 109 | ||
| CURRENT ASSETS | ||||
| Debtors and prepayments Cash at bank and in hand |
12 | 151221 | 150 129 | |
| 151,221 | 150,129 | |||
| CURRENT LIABILITIES | ||||
| Creditors: amounts falling due within one year |
13 | 4 671 | 5 915 | |
| NET CURRENT ASSETS | 146550 | 144214 | ||
| TOTAL ASSETS LESSCURRENT LIABILITIES | 8~14~7997 | R~14~$ | ||
| Represented by: |
||||
| UNRESTRICTED FUNDS | 14 | K~47~$7 | f~153~423 |
| 3. | HOUSING STOCK | 2023 | 2022 | ||||||
|---|---|---|---|---|---|---|---|---|---|
| Hostel accommodation —number |
ofbed | spaces | 15 | ||||||
| 4. | OPERATING COSTS | ||||||||
| 2023 | 2022 | ||||||||
| Operating costs include: Independent Examiner's Depreciation |
remuneration | (including | other services) | 1,674 14873 |
1,656 13233 |
||||
| K~189 | |||||||||
| 5. | INTEREST RECEIVABLE | AND SIMILAR | INCOME | ||||||
| 2023 | 2022 | ||||||||
| Listed investment income (gross) Lloyds TSBdeposit interest (gross) COIF deposit interest (gross) |
28,712 39 1 471 |
28,978 2 35 |
|||||||
| 8~30 22 | |||||||||
| 6. | OTHER INCOME | ||||||||
| Donations and legacies |
900 | ||||||||
| Other income | 100 | ||||||||
| R~NtQ | |||||||||
| 7, | EMPLOYEES | ||||||||
| 2023 | 2022 | ||||||||
| R | |||||||||
| Employee costs: Salaries and wages Pension contributions |
92,851 615 |
89,089 557 |
|||||||
| National insurance contributions |
|||||||||
| R9,'~4/j | 8~8646 | ||||||||
| Average number ofpersons | employed | during | |||||||
| the year including part-time |
employees: | 2023 | 2022 | ||||||
| Hostel staff | 12 | 12 |
| 8. | PAYMENTS TO MEMBERS, COMMITTEE MEMBERS, OFFICERS, | PAYMENTS TO MEMBERS, COMMITTEE MEMBERS, OFFICERS, | PAYMENTS TO MEMBERS, COMMITTEE MEMBERS, OFFICERS, | PAYMENTS TO MEMBERS, COMMITTEE MEMBERS, OFFICERS, | PAYMENTS TO MEMBERS, COMMITTEE MEMBERS, OFFICERS, | PAYMENTS TO MEMBERS, COMMITTEE MEMBERS, OFFICERS, | PAYMENTS TO MEMBERS, COMMITTEE MEMBERS, OFFICERS, | PAYMENTS TO MEMBERS, COMMITTEE MEMBERS, OFFICERS, | PAYMENTS TO MEMBERS, COMMITTEE MEMBERS, OFFICERS, | ETC | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2023 | 2022 | ||||||||||
| Fees, remuneration or expenses |
payable | to members | of | the | |||||||
| Society who were neither |
members | of | the | Committee | of | ||||||
| Management, nor employees |
ofthe Society | Nil | |||||||||
| Fees, remuneration or expenses |
payable | to members | of | the | |||||||
| Committee of Management of the Society |
who | were | neither | ||||||||
| officers nor employees ofthe |
Society | Nil | |||||||||
| Fees, remuneration or expenses paid |
to officers | of the | Society | ||||||||
| who were not employees | Nil | Nil | |||||||||
| Payments or gifts made, or |
benefits | granted, | to the | persons | |||||||
| referred to in section 13 and |
15 | of the Housing | Associations | ||||||||
| Act 1996 | Nil | Nil | |||||||||
| 9. | HOUSING LAND AND BUILDINGS |
||||||||||
| SHG Assisted Schemes —Freehold | |||||||||||
| 2023 | 2022 | ||||||||||
| Cost —Com leted Schemes | |||||||||||
| At 1 April 2022 and 31 March 2023 | 797,007 | 797,007 | |||||||||
| Property improvements |
14883 | ||||||||||
| At 31March 2023 | 811 890 | 797007 | |||||||||
| ~De reciation | |||||||||||
| At 1 April 2022 Charge for the period |
126,585 12 227 |
115,074 11511 |
|||||||||
| At 31 March 2023 | 138812 | 126585 | |||||||||
| SOCIAL HOUSING GRANT |
41 007 | 41 007 | |||||||||
| Net Book Value At 31 March 2023 |
f.~2.(j71 |
| 10. | FURNISHINGS AND EQUIPMENT |
FURNISHINGS AND EQUIPMENT |
||
|---|---|---|---|---|
| 2023 | 2022 | |||
| Cost. | ||||
| At 1 April 2022 Additions |
74,234 | 67,802 6432 |
||
| At 31 March 2023 | 74 234 | 74 234 | ||
| ~De reciation | ||||
| At 1 April 2022 Charge for the period |
62,355 2 647 |
58,633 3 722 |
||
| At 31 March 2023 | 65 DD2 | 62 355 | ||
| Net Book Value At 31 March 2023 |
8~923 | |||
| 1l. | INVESTMENTS | |||
| 2023 | 2022 | |||
| Listed investments | ||||
| At 1 April 2022 | 748,815 | 714,126 | ||
| Shares purchased | ||||
| Shares sold | ||||
| 748,815 | 714,126 | |||
| Unrealised (deficitj/surplus |
on revaluation | 56771 | 34689 | |
| 0692 044 | f.~7/~1 | |||
| Historical cost at 1 April 2022 Cost ofshares purchased Cost ofshares sold |
485,248 62,133 ~44 898 |
487,654 35,997 $38402) |
||
| Historical cost | 85D2 483 | |||
| 12. | DEBTORS AND PREPAYMENTS | |||
| 2023 | 2022 | |||
| Amounts falling due within |
one year: | |||
| Other debtors |
| CREDITORS | ||||||
|---|---|---|---|---|---|---|
| 2023 | 2022 | |||||
| Amounts falling Sundry creditors |
due | within | one | year: | X~471 |
ofthe investments each |
year, | |||
|---|---|---|---|---|
| General | Revaluation | |||
| Reserve | Reserve | 2023 | 2022 | |
| At 1 April 2022 Net movement offunds Transfer ofrevaluation |
I,130,486 (54,426) 56771 |
403,836 ~56 771 |
1,534,323 (54,426) |
1,497,922 36,401 |
| At 31 March 2023 | R~l:~2~31 | K~47 1~ | K~147~97 | R~l,'L4~ |