# ## ||**Page**| |---|---| |Legal and Administrative Details|3| |Trustees' Annual Report|4−9| |Reporting Accountant's Report|10| |Statement of Financial Activities|11| |Statement of Financial Position|12| |Statement of Cash Flow|13| |Notes to the Financial Statements|14 —24| ## |Clerk to the Trustees:|Katie Arengo−Jones| |---|---| |Assistant Clerk to the|| |Trustees:|Deborah Prescott| |Registered office:|C/O The Lygon Almshouses| ||313−321 Fulham Palace Road| ||Fulham| ||London SW6 6TH| |Bankers:|NatWest Bank| ||45 Fulham Broadway| ||London SW6 1AG| |Solicitors:|Woodfords| ||Fulham High Street| ||London SW6| |Reporting accountant:|Beever and Struthers| ||Chartered Accountants| ||15 Bunhill Row| ||London| ||EC1Y 8LP| |Investment advisors:|Waverton Investment Management| ||21 St James's Square| ||London| ||SW1Y 4HB| |Statutory registrations:|Registered Charity Number: L2 247066| ||Registered Provider Number A1137| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |**Indicator**||||**2022**|**Actual**|**Actual**|**2023**| |---|---|---|---|---|---|---|---| |||||**Target**|**2022**|**2021**|**Target**| |1.
Reinvestment|||in|1.0%|0.0%|1.3%|1.0%| |development|and||capital||||| |works|||||||| |2a. New supply|delivered|||0.0%|0.0%|0.0%|0.0%| |(Social housing|units)||||||| |2b. New supply|delivered|||0.0%|0.0%|0.0%|0.0%| |(Non−social housing||units)|||||| |3. Gearing||||−|−|−|−| |4.
Interest
cover||including||−|−|−|−| |capitalised repairs|||||||| |(EBITDA−MRI)|||||||| |5. Social housing||cost per||£5,000|£6,576|£5,334|£6,000| |unit|||||||| |6. Operating margin||||2.0%|−27.2%|1.2%|1.0%| |(Social housing|lettings)||||||| |7. Operating margin||(overall)||24.0%|6.1%|17.9%|6.0%| |8.
Return|on||capital|2.0%|0.4%|1.3%|1%| |employed|||||||| ## ## ## ## ## # ## ## ## ## ## ## ## ## ## ## ## ## ||||**2022**||2021| |---|---|---|---|---|---| |||**Unrestricted**|**Restricted**||| |||**Funds**|**Funds**|**Total**|Total| ||Note||||| |**Income from:**|||||| |Charitable activities|2|73,496|−|73,496|77,761| |Investments|3|29,305|−|29,305|20,066| |**Total income**||**102,801**||**102,801**|**97,827**| |**Expenditure on:**|||||| |Charitable activities|4|93,500|−|93,500|76,848| |Other|5|3,066||3,066|3,480| |**Total expenditure**||**96,566**||**96,566**|**80,328**| |Net gain / (losses) on sale of
investments|||||11,221| |Net gain / (losses) on movement of|||||| |investments|9|29,649||29,649|93,587| |**Net income / (expenditure)**||**35,884**||**35,884**|**122,307**| |Transfers between funds|||||| |**Net movement in funds**||**35,884**||**35,884**|**122,307**| |**Reconciliation of funds:**|||||| |Total funds brought forward|12|1,246,070|255,230|1,501,300|1,378,993| |**Total funds carried forward**|12|**1,281,954**|**255,230**|**1,537,184**|**1,501,300**| ## |||**2022**|2021| |---|---|---|---| ||Note|£|£| |**Fixed assets**|||| |Tangible assets|7|586,743|601,196| |Investment property|8|60,000|60,000| |Investments|9|842,697|785,466| |||1,489,440|1,446,662| |**Current assets**|||| |Debtors|10|2,539|3,567| |Cash at bank and in hand||62,979|56,333| |||65,518|59,900| |**Creditors: amounts falling due within one year**|11|17,774|5,262| |**Net current assets**||47,744|54,638| |**Net assets/(liabilities)**||1,537,184|1,501,300| |**Restricted and unrestricted funds**|||| |Unrestricted funds||1,281,954|1,246,070| |Restricted funds||255,230|255,230| |**Total charity funds**|13|1,537,184|1,501,300| ## |||**2022**|2021| |---|---|---|---| ||Note||| |**Cash flow from operating activities**|14|4,921|8,674| |**Net cash flow from operating activities**||4,921|8,674| |**Cash flow from investing activities**|||| |Purchase of tangible fixed assets|||(7,980)| |Payments to acquire investments||(27,581)|(30,000)| |Proceeds/(loss) from sale of investments|||(18,767)| |Dividends received||27,582|18,766| |Ground rent received from investment property||1,724|1,300| |**Net cash flow from investing activities**||1,725|(36,681)| |**Cash flow from financing activities**|||| |Repayment of borrowings|||| |**Net increase in cash and cash equivalents**||6,646|(28,007)| |**Cash and cash equivalents at 1 April 2021**||56,333|84,340| |**Cash and cash equivalents at 31 March 2022**||62,979|56,333| |**Cash and cash equivalents consists of:**|||| |Cash at bank and in hand||62,979|56,333| |**Cash and cash equivalents at 31 March 2022**||62,979|56,333| ## ## ## ## ## ## ## |Kitchens|20|years|Boilers|15 years| |---|---|---|---|---| |Bathrooms|30|years|Equipment|5 years| |Plumbing|30|years|Structure (shell) including stonework|100 years| |Electrics|40|years|Land|Indefinite| # ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||**2022**|2021| |---|---|---| |Charges to residents net of voids|73,496|76,261| |Donations||1,500| ||73,496|77,761| |Loss of income due to void periods|5,705|2,759| |**ncome from investments**||| ||**2022**|2021| |Dividend income|27,582|18,766| |Ground rent|1,723|1,300| |Lease Extension|−|| ||29,305|20,066| ## ## |**nalysis of resources expended**|||| |---|---|---|---| ||**Other Direct**|**Total**|Other Direct| ||**Support**|**2022**|Support| ||**Costs**||Costs and| ||||Total| ||||2021| |**Charitable activities**|||| |Management fee|16,000|16,000|16,000| |Insurance|3,308|3,308|3,033| |Professional fees|6,157|6,157|1,884| |Legal expenses|4,800|4,800|−| |Bank charges|129|129|134| |Depreciation|14,453|14,453|12,698| |Gas|5,294|5,294|4,583| |Lighting|2,021|2,021|2,517| |Water|1,023|1,023|978| |Telephone|354|354|323| |Gardening|5,034|5,034|4,398| |Equipment Rent and maintenance|1,172|1,172|13,042| |Routine maintenance|4,679|4,679|5,574| |Welfare and Office costs|1,607|1,607|3,338| |Bad debts|−|−|−| |Major repairs|27,469|27,469|8,346| ||93,500|93,500|76,848| ## ||||||**2022**|2021| |---|---|---|---|---|---|---| |Reporting|Accountants'|Fee|(including|VAT)|**3,066**|**3,480**| ||||||**3,066**|**3,480**| ## |**6**
**Net income / expenditure for the year ending **|**6**
**Net income / expenditure for the year ending **|**31 March**||| |---|---|---|---|---| |Net income / expenditure is|stated after charging|/ (crediting):||| ||||**2022**|2021| |Depreciation of tangible fixed assets|||**14,453**|12,698| |**7**
**Tangible fixed assets**||||| ||**Almshouse**|**_Almshouse_**|**_Equipment_**|**Total**| ||**Property**|**Components**||| |Cost||||| |At 1 April 2021|4,953|804,049|28,201|837,203| |Additions|−||−|−| |Disposals|−||−|−| |At 31 March 2022|4,953|804,049|28,201|837,203| |Depreciation:||||| |At 1 April 2021||211,640|24,367|236,007| |Charge for the year||12,996|1,457|14,453| |Disposal||−|−|| |At 31 March 2022||224,636|25,824|250,460| |Net book value:||||| |At 31 March 2022|**4,953**|**579,413**|**2,377**|**586,743**| |At 31 March 2021|4,953|592,409|3,834|601,196| ## |||**2022**|**2021**| |---|---|---|---| |Freehold|property|60,000|60,000| ## ## ||**Total Funds**| |---|---| |As at 1 April 2020|631,891| |Revaluations|93,587| |Additions|59,988| |Disposals|| |As at 1 April 2021|785,466| |Revaluations|29,649| |Additions|27,582| |Disposals|| |Cash additions|| |**As at 31 March 2022**|**842,697**| ## ||**2022**|2021| |---|---|---| |Residents' arrears|**1,246**|1,892| |Prepayments and accrued income|**1,293**|1,675| ||**2,539**|3,567| ## ||**2022**|2021| |---|---|---| |Prepaid Rent|**213**|159| |Creditors|**983**|303| |Accruals|**16,578**|4,800| ||**17,774**|5,262| ## ## ||**Balance at 31**|**Income**|**Expenditure**|**Gains/**|**Transfers**|**Balance at**| |---|---|---|---|---|---|---| ||**March 2021**|||**(losses)**||**31 March**| |||||||**2022**| |Revenue reserve|451,919|102,801|(96,566)|29,649|(72,696)|415,107| |Revaluation reserve|103,047||||72,696|175,743| |Designated reserve|691,104|||||691,104| |Restricted reserve|255,230|||||255,230| |Total|1,501,300|102,801|(96,566)|29,649||1,537,184| ## ||**Unrestricted**|**Restricted**|| |---|---|---|---| ||**funds**|**funds**|**Total**| |Fixed assets|1,234,210|255,230|1,489,440| |Current assets|65,518||65,518| |Current liabilities|(17,774)||(17,774)| |Total|1,281,954|255,230|1,537,184| ## ||**2022**|2021| |---|---|---| |Net income for year|35,884|122,307| |Dividends received|(27,583)|(18,766)| |Gain on sale of investment|−|(11,221)| |Depreciation and impairment of tangible fixed assets|14,453|12,698| |(Gains) / losses on investments|(29,649)|(93,587)| |Ground rents from investment property|(1,723)|(1,300)| |(Increase) / decrease in debtors|1,027|(711)| |Increase / (decrease) in creditors|12,512|(746)| |Net cash flow from operating activities|4,921|8,674| ## |||2021|Cash flows|**2022**| |---|---|---|---|---| |Short|and long term loan liabilities|||| |Total|liabilities|−|−|| |Cash|and cash equivalents|(56,333)|(6,646)|**(62,979)**| |Total|net debt|(56,333)|(6,646)|**(62,979)**| ## ## ## ## |he carrying amounts of the charity's financial instruments are as f|ollows:|| |---|---|---| ||**2022**|2021| |_Financial assets_||| |Measured at fair value through net income / expenditure:||| |−Fixed asset listed investments (note 10)|842,697|785,466| |Measured at cost:||| |−Cash at bank and in hand|62,979|56,333| |Debt instruments measured at amortised cost:||| |−Debtors (note 11)|1,246|1,892| |_Total financial assets_|**906,922**|843,691| |_Financial liabilities_||| |Measured at amortised cost||| |−Trade and other creditors (note 12)|983|462| |**Total financial liabilities**|**983**|462| ## ## |||**2021**|| |---|---|---|---| ||**Unrestricted**|**Restricted**|| ||**Funds**|**Funds**|**Total**| ||**£**|**£**|**£**| |**Income from:**|||| |Charitable activities|77,761|−|77,761| |Investments|20,066|−|20,066| |**Total income**|**97,827**|**−**|**97,827**| |**Expenditure on:**|||| |Charitable activities|76,848|−|76,848| |Other|3,480|−|3,480| |**Total expenditure**|**80,328**|**−**|**80,328**| |Net gain / (losses) on sale of
investments|11,221|−|11,221| |Net gain / (losses) on movement of|||| |investments|93,587|−|93,587| |**Net income / (expenditure)**|**122,307**|**−**|**122,307**| |**Reconciliation of funds:**|||| |Total funds brought forward|1,123,763|255,230|1,378,933| |**Total funds carried forward**|**1,246,070**|**255,230**|**1,501,300**|