**Charity registration number 247935** 

**CHORLEYWOOD AND DISTRICT HOMES FOR THE ELDERLY ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022** 



## **CHORLEYWOOD AND DISTRICT HOMES FOR THE ELDERLY** 

## **LEGAL AND ADMINISTRATIVE INFORMATION** 

|**Trustees**|N Crockett|
|---|---|
||J Donegan|
||M Morrison|
|**Charity number**|247935|
|**Principal address**|Hurstleigh|
||Shire Lane|
||Chorleywood|
||Hertfordshire|
||WD3 5NR|
|**Independent examiner**|Nicholas Corden Summers Morgan|
||First Floor, Sheraton House|
||Lower Road|
||Chorleywood|
||Hertfordshire|
||WD3 5LH|
|**Bankers**|National Westminster Bank plc|
||PO Box 498|
||13 High Street|
||Chesham|
||Bucks|
||HP5 1BQ|





## **CHORLEYWOOD AND DISTRICT HOMES FOR THE ELDERLY** 

## **CONTENTS** 

||**Page**|
|---|---|
|Trustees' report|1 - 2|
|Independent examiner's report|3|
|Statement of financial activities|4 - 5|
|Balance sheet|6|
|Notes to the accounts|7 - 13|





## **CHORLEYWOOD AND DISTRICT HOMES FOR THE ELDERLY** 

## **TRUSTEES' REPORT** 

## _**FOR THE YEAR ENDED 31 MARCH 2022**_ 

The Trustees present their report and accounts for the year ended 31 March 2022. 

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Charity's trust deed, the Charities Act 2011, and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)". 

## **Objectives and activities** 

The policies adopted are in furtherance of the Charity's main object, which is the running of the retirement home known as "Hurstleigh" in Shire Lane, Chorleywood. The Charity is categorised as a non-profit organisation. Previously the Trust was registered with the Housing Corporation as a Registered Social Landlord. It was the opinion of the Trustees that the onerous reporting and other requirements of that status outweighed any benefit to the Trust and accordingly it deregistered on 17th July 2001. 

The aims of the Charity are to provide, maintain and upgrade secure homes for elderly residents from within the area of Chorleywood. The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Trust should undertake.  Through achieving these aims the Charity provides a benefit to the public. 

The Trust's policy is to consult and discuss with employees, through staff councils and at meetings, matters likely to affect employees' interests. 

Information on matters of concern to employees is given through information bulletins and reports which seek to achieve a common awareness on the part of all employees of the financial and economic factors affecting the group's performance. 

Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment within the Trust continues and that the appropriate training is arranged. It is the policy of the Trust that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees. 

The Trustees have an established auto-enrolment pension scheme for the benefit of their employees. 

## **Achievements and performance** 

The Charity was able to achieve its objectives, ensuring enough income was raised in order to continue running the retirement home for the benefit of the current and future residents. 

## **Financial review** 

The policy of the Charity is to ensure that enough income is raised, primarily from rental income, to achieve the objectives stated for the benefit of the current and future residents. Rental income is set at a level which allows for the running expenses of Hurstleigh to be covered and to create a small contingency for unforseen emergencies, including a shortfall in rental income. 

There were total reserves held at the balance sheet date of £679,063 (2021: £707,557). Of these, £nil (2021: £nil) were restricted, £385,328 (2021: £401,221) were designated and £293,735 (2021: £306,336) were unrestricted. 

The total free reserves were £293,736 (2021: £306,336). 

It is the policy of the Trust that unrestricted funds which have not been designated for a specific use should be maintained at a level of at least one year's expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Trust’s current activities. The level of reserves has been held significantly above this level throughout the year. The Trustees have major projects planned for the future; these will be funded by the excess funds held in free reserves. 

- 1 - 



## **CHORLEYWOOD AND DISTRICT HOMES FOR THE ELDERLY** 

## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_ 

Following the curtailment of activities to improve the accommodation as a result of the Covid-19 pandemic, the removal of restrictions has allowed us to use funds to make major improvements to 5 flats, to redecorate all the common parts of the Home, to complete the refurbishment of the Car Park, to complete the repair work needed to the roof and guttering and to refurbish the general kitchen. 

The Trustees continue to review the major risks to which the Charity is exposed and take appropriate steps which they feel are necessary to ensure that such risks are minimised. 

## **Structure, governance and management** 

The Trust was established by a charitable trust deed on 20th April 1966. The objects are the provision and maintenance of homes for persons of retirement age, resident or formerly resident within the area of Chorleywood. 

The Trustees who served during the year and up to the date of signature of the financial statements were: N Crockett J Donegan M Morrison 

New Trustees are appointed by unanimous agreement of the existing Trustees, having regard to the skills necessary to ensure the Trustees meet their statutory obligations. Trustees are introduced to the Charity's residential home and its staff, and relevant procedures and systems are explained. 

The Trust is run by its Board of Trustees and a Management Committee. Day to day operation of the charity is delegated to Nick Simons, who is considered key management personnel.  It employs a warden and deputy wardens to supervise the day to day running of Hurstleigh. 

The Charity has no connected charities as defined by the SORP Accounting and Reporting by Charities. 

## **Asset cover for funds** 

The fixed assets are stated in the accounts at cost, less depreciation. The market value is now considered to be in excess of £3 million. 

The Trustees' report was approved by the Board of Trustees. 

## **J Donegan** 

Trustee Dated: 27 October 2022 

- 2 - 



## **CHORLEYWOOD AND DISTRICT HOMES FOR THE ELDERLY** 

## **INDEPENDENT EXAMINER'S REPORT** 

## **TO THE TRUSTEES OF CHORLEYWOOD AND DISTRICT HOMES FOR THE ELDERLY** 

I report to the Trustees on my examination of the financial statements of Chorleywood And District Homes For The Elderly (the Trust) for the year ended 31 March 2022. 

## **Responsibilities and basis of report** 

As the Trustees of the Trust you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act). 

I report in respect of my examination of the Trust’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. 

## **Independent examiner's statement** 

The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accounts in England and Wales. 

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 

- 1 accounting records were not kept in respect of the Trust as required by section 130 of the 2011 Act; or 

- 2 the financial statements do not accord with those records; or 

- 3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. 

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. 

## **Nicholas Corden, ACA** 

First Floor, Sheraton House Lower Road Chorleywood Hertfordshire WD3 5LH 

Dated: 28 October 2022 

- 3 - 



## **CHORLEYWOOD AND DISTRICT HOMES FOR THE ELDERLY** 

## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 31 MARCH 2022**_ 

|**Current financial year**|**Current financial year**|**Current financial year**|||
|---|---|---|---|---|
|**Unrestricted**<br>**Unrestricted**<br>**funds**<br>**funds**<br>**general**<br>**designated**<br>**2022**<br>**2022**<br>**Notes**<br>**£**<br>**£**|||**Total**|**Total**|
||**funds**<br>**funds**<br>**general**<br>**designated**||||
||**2022**|**2022**|**2022**|**2021**|
||**£**|**£**|**£**|**£**|
|**Income and endowments from:**|||||
|Donations|-|-|-|3,745|
|Rental income<br>**2**|199,897|-|199,897|173,644|
|Other Income<br>**3**|6,052|-|6,052|8,768|
||||||
||||||
|**Total income**|205,949|-|205,949|186,157|
|**Expenditure on:**|||||
||||||
|Raising funds<br>**4**|204|-|204|84|
||||||
||||||
|Charitable activities<br>**5**|218,345|15,894|234,239|164,837|
||||||
||||||
|**Total expenditure**|218,549|15,894|234,443|164,921|
|**Net (expenditure)/income for the year/**<br>**Net movement in funds**|||||
||||||
||(12,600)|(15,894)|(28,494)|21,236|
||||||
|Fund balances at 1 April 2021|306,336|401,221|707,557|686,321|
||||||
||||||
|**Fund balances at 31 March 2022**|293,736|385,327|679,063|707,557|



The statement of financial activities includes all gains and losses recognised in the year. 

All income and expenditure derive from continuing activities. 

- 4 - 



## **CHORLEYWOOD AND DISTRICT HOMES FOR THE ELDERLY** 

## **STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT** 

## _**FOR THE YEAR ENDED 31 MARCH 2022**_ 

## **Prior financial year** 

|**Prior financial year**|**Prior financial year**|**Prior financial year**||
|---|---|---|---|
|**Unrestricted**<br>**Unrestricted**<br>**funds**<br>**funds**<br>**general**<br>**designated**<br>**2021**<br>**2021**<br>**Notes**<br>**£**<br>**£**|||**Total**|
||**funds**<br>**funds**<br>**general**<br>**designated**|||
||**2021**|**2021**|**2021**|
||**£**|**£**|**£**|
|**Income and endowments from:**||||
|Donations|3,745|-|3,745|
|Rental income<br>**2**|173,644|-|173,644|
|Other Income<br>**3**|8,768|-|8,768|
|||||
|||||
|**Total income**|186,157|-|186,157|
|**Expenditure on:**||||
|||||
|Raising funds<br>**4**|84|-|84|
|||||
|||||
|Charitable activities<br>**5**|148,944|15,893|164,837|
|||||
|||||
|**Total expenditure**|149,028|15,893|164,921|
|Gross transfers between funds<br>**Net (expenditure)/income for the year/**||||
|||||
||(13,599)|13,599|-|
||23,530|||
|**Net movement in funds**||(2,294)|21,236|
|||||
|Fund balances at 1 April 2020|282,806|403,515|686,321|
|||||
|||||
|**Fund balances at 31 March 2021**|306,336|401,221|707,557|



- 5 - 



## **CHORLEYWOOD AND DISTRICT HOMES FOR THE ELDERLY** 

## **BALANCE SHEET** 

## _**AS AT 31 MARCH 2022**_ 

|**Notes**|**2022**||**2021**||
|---|---|---|---|---|
||**£**|**£**|**£**|**£**|
||||||
|**Fixed assets**|||||
|Tangible assets<br>**9**<br>**Current assets**|523<br>300,615<br>301,138<br>(7,402)|385,327<br>293,736<br>679,063<br>679,063<br>679,063|889<br>333,376<br>334,265<br>(27,929)<br>401,221<br>306,336|401,221|
||||||
|Debtors<br>**10**|||||
|Cash at bank and in hand<br>**Creditors: amounts falling due within**<br>**one year**<br>**12**|||||
|Net current assets||||306,336|
|**Total assets less current liabilities**|385,328<br>293,735||||
||||||
|||||707,557|
||||||
||||||
|**Income funds**|||||
|Unrestricted funds|||||
|Designated funds<br>**15**|||||
|General unrestricted funds|||||
||||||
|||||707,557|
||||||
||||||
|||||707,557|



The financial statements were approved by the Trustees on 27 October 2022 

J Donegan **Trustee** 

- 6 - 



## **CHORLEYWOOD AND DISTRICT HOMES FOR THE ELDERLY** 

## **NOTES TO THE  FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2022**_ 

## **1 Accounting policies** 

## **Charity information** 

Chorleywood And District Homes For The Elderly is a charitable incorporated organisation (CIO) registered with the Charity Commission. Its principal address is detailed within the legal and administrative section of the accounts. 

## **1.1 Accounting convention** 

The financial statements have been prepared in accordance with the Trust's declaration of trust,  the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The Trust is a Public Benefit Entity as defined by FRS 102. 

The Trust has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows. 

The financial statements are prepared in sterling, which is the functional currency of the Trust. Monetary amounts in these financial statements are rounded to the nearest £. 

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 

## **1.2 Going concern** 

At the time of approving the financial statements, the Trustees have a reasonable expectation that the Trust has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements. 

## **1.3 Charitable funds** 

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives. 

Designated funds are part of the unrestricted funds set aside to be used for a particular future project, this is set out in the notes to the accounts. 

Restricted funds are subject to specific conditions by donors as to how they may be used, these are set out in the notes to the accounts. 

## **1.4 Income** 

Rental income is shown net of letting voids and is taken to the Income and Expenditure account on an accruals basis. Donations are taken when received. 

## **1.5 Expenditure** 

Independent examiner fees are shown as governance costs in the analysis of resources expended. Other than fundraising and publicity expenses, all other costs relate directly to the running of Hurstleigh. 

- 7 - 



## **CHORLEYWOOD AND DISTRICT HOMES FOR THE ELDERLY** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_ 

## **1 Accounting policies** 

## **(Continued)** 

## **1.6 Tangible fixed assets** 

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. 

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: 

Freehold Buildings 2% Straight Line Fixtures, fittings & equipment 15% Straight Line 

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. 

## **1.7 Cash and cash equivalents** 

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 

## **1.8 Financial instruments** 

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at amortised cost. 

## **1.9 Retirement benefits** 

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. 

## **1.10 Housing Association Grant** 

Housing Association Grant (HAG) was paid by the Housing Corporation to reduce the cost of the initial building development and is therefore shown as a deduction from the cost of Housing Properties on the Balance Sheet.  HAG is repayable under certain circumstances, primarily following the sale of the property but will normally be restricted to net proceeds of sale. 

## **1.11 Extraordinary repairs** 

Costs of maintenance and upgrading of accommodation, unless representing improvements to the properties, are charged to the Revenue Account in the year in which they are incurred. 

## **2 Rental income** 

||**Unrestricted**|Unrestricted|
|---|---|---|
||**funds**|funds|
||**general**|general|
||**2022**|2021|
||**£**|£|
|Rental income|199,897|173,644|



Rent contributions from the residents at Hurstleigh Homes. 

- 8 - 



## **CHORLEYWOOD AND DISTRICT HOMES FOR THE ELDERLY** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_ 

## **3 Other Income** 

||**Unrestricted**|Unrestricted|
|---|---|---|
||**funds**|funds|
||**general**|general|
||**2022**|2021|
||**£**|£|
|Other income|6,052|8,768|



Other incoming resources cover interest received, laundry and lunch club income. 

## **4 Raising funds** 

|**Unrestricted**<br>Unrestricted<br>**funds**<br>funds<br>**general**<br>general<br>**2022**<br>2021<br>**£**<br>£<br>Fundraising & Publicity|**Unrestricted**<br>Unrestricted<br>**funds**<br>funds<br>**general**<br>general<br>**2022**<br>2021<br>**£**<br>£<br>Fundraising & Publicity|**Unrestricted**<br>Unrestricted<br>**funds**<br>funds<br>**general**<br>general<br>**2022**<br>2021<br>**£**<br>£<br>Fundraising & Publicity|
|---|---|---|
||**funds**|funds|
||**general**|general|
||**2022**|2021|
||**£**|£|
||||
||204|84|
||||
||||
||204|84|



Fundraising and publicity costs are paid from unrestricted funds. 

## **5 Charitable activities** 

||**2022**|**2021**|
|---|---|---|
||**£**|**£**|
||||
|Staff costs|81,776|81,274|
|Depreciation|15,894|15,893|
||||
||||
||97,670|97,167|
||||
|Share of support costs (see note 6)|134,569|65,750|
|Share of governance costs (see note 6)|2,000|1,920|
||||
||||
||234,239|164,837|



- 9 - 



## **CHORLEYWOOD AND DISTRICT HOMES FOR THE ELDERLY** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_ 

## **6 Support costs** 

||**Support**<br>**costs**<br>**Governance**<br>**costs**|**Support**<br>**costs**<br>**Governance**<br>**costs**|**2022**<br>Support costs<br>Governance<br>costs|**2022**<br>Support costs<br>Governance<br>costs|**2022**<br>Support costs<br>Governance<br>costs|2021|
|---|---|---|---|---|---|---|
||||||||
||**£**|**£**|**£**|£|£|£|
||||||||
|Rates, Light and Heat|22,880|-|22,880|24,166|-|24,166|
|Insurance|6,927|-|6,927|6,666|-|6,666|
|Legal and Professional|5,245|-|5,245|278|-|278|
|Repairs and<br>Maintenance|||||||
||93,393|-|93,393|28,363|-|28,363|
|Telephone and Fax|2,436|-|2,436|3,183|-|3,183|
|Loan interest|2|-|2|86|-|86|
|Bank Charges|282|-|282|282|-|282|
|Sundry expenses|383|-|383|-|-|-|
|Housekeeping|3,021|-|3,021|2,726|-|2,726|
|Independent Examination<br>fees|||||||
||-|2,000|2,000|-|1,920|1,920|
||||||||
||||||||
||134,569|2,000|136,569|65,750|1,920|67,670|



Governance costs relate to payments to the independent examiners of £2,000 (2021 - £1,920) in respect of their fees 

## **7 Trustees** 

None of the Trustees (or any persons connected with them) received any remuneration during the year. 

## **8 Employees** 

The average monthly number of employees during the year was: 

|The average monthly number of employees during the year was:|||
|---|---|---|
||**2022**|**2021**|
||**Number**|**Number**|
||||
|Warden|1|1|
|Assistant Warden|4|4|
||||
||||
|Total|5|5|
||||
||||
|**Employment costs**|**2022**|**2021**|
||**£**|**£**|
||||
|Wages and salaries|77,690|77,523|
|Social security costs|1,884|1,568|
|Other pension costs|2,202|2,183|
||||
||||
||81,776|81,274|



During the year key management personnel did not receive any remuneration for their work for the Trust. 

- 10 - 



## **CHORLEYWOOD AND DISTRICT HOMES FOR THE ELDERLY** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_ 

**8 Employees (Continued)** 

There were no employees whose annual remuneration was more than £60,000. 

|**9**<br>**Tangible fixed assets**||||
|---|---|---|---|
|**Cost**<br>At 1 April 2021<br>At 31 March 2022<br>**Depreciation**<br>At 1 April 2021<br>Depreciation charged in the year<br>At 31 March 2022<br>**Carrying amount**<br>At 31 March 2022<br>At 31 March 2021<br>**10**<br>**Debtors**<br>**Amounts falling due within one year:**<br>Prepayments and accrued income|**Freehold**<br>**Buildings**<br>**Fixtures,**<br>**fittings &**<br>**equipment**||**Total**|
|||||
||**£**|**£**|**£**|
|||||
||598,806|92,101|690,907|
|||||
|||||
||598,806|92,101|690,907|
|||||
|||||
||214,160|75,526|289,686|
||11,976|3,918|15,894|
|||||
|||||
||226,136|79,444|305,580|
|||||
|||||
|||||
||372,670|12,657|385,327|
|||||
|||||
||384,646|16,575|401,221|
|||||
|||||
|||||
|||||
|||**2022**|**2021**|
|||**£**|**£**|
|||||
|||523|889|
|||||
|||||
|**11**<br>**Loans and overdrafts**||||
|Bank loans<br>Payable within one year||**2022**|**2021**|
|||**£**|**£**|
|||||
|||-|1,194|
|||||
|||||
|||-|1,194|



The bank loans are secured by legal charges over the freehold of the trust's property. 

- 11 - 



## **CHORLEYWOOD AND DISTRICT HOMES FOR THE ELDERLY** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_ 

|**12**<br>**Creditors: amounts falling due within one year**|||
|---|---|---|
|**Notes**<br>Bank loans<br>**11**<br>Deferred income<br>**13**<br>Trade creditors<br>Accruals<br>**13**<br>**Deferred income**<br>Other deferred income|**2022**|**2021**|
||**£**|**£**|
||||
||-|1,194|
||-|270|
||3,204|18,580|
||4,198|7,885|
||||
||||
||7,402|27,929|
||||
||||
||**2022**|**2021**|
||**£**|**£**|
||||
||-|270|



**14 Retirement benefit schemes** 

## **Defined contribution schemes** 

The Trust operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the Trust in an independently administered fund. 

The charge to profit or loss in respect of defined contribution schemes was £2,202 (2021: £2,183). 

## **15 Designated funds** 

The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes: 

|**Balance at**<br>**1 April 2020**<br>**Resources**<br>**expended**<br>**£**<br>**£**<br>Tangible asset fund<br>403,515<br>(15,893)<br>403,515<br>(15,893)|**Balance at**<br>**1 April 2020**<br>**Resources**<br>**expended**<br>**£**<br>**£**<br>Tangible asset fund<br>403,515<br>(15,893)<br>403,515<br>(15,893)|**Balance at**<br>**1 April 2020**<br>**Resources**<br>**expended**<br>**£**<br>**£**<br>Tangible asset fund<br>403,515<br>(15,893)<br>403,515<br>(15,893)|**Transfers**<br>**Balance at**<br>**1 April 2021**<br>**Resources**<br>**expended**<br>**Balance at**<br>**31 March 2022**|**Transfers**<br>**Balance at**<br>**1 April 2021**<br>**Resources**<br>**expended**<br>**Balance at**<br>**31 March 2022**|**Transfers**<br>**Balance at**<br>**1 April 2021**<br>**Resources**<br>**expended**<br>**Balance at**<br>**31 March 2022**|**Transfers**<br>**Balance at**<br>**1 April 2021**<br>**Resources**<br>**expended**<br>**Balance at**<br>**31 March 2022**|
|---|---|---|---|---|---|---|
||**£**|**£**|**£**|**£**|**£**|**£**|
||403,515<br>403,515|||401,221<br>401,221|||
|Tangible asset fund||(15,893)|13,599||(15,893)|385,328|
||||||||
||||||||
|||(15,893)|13,599||(15,893)|385,328|



Tangible asset fund: The trustees have established a designated fund to represent the value of the fixed assets at the year end; resources expended represent the depreciation on assets and transfers represent fixed asset additions. 

- 12 - 



## **CHORLEYWOOD AND DISTRICT HOMES FOR THE ELDERLY** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_ 

|**16**<br>**Analysis of net assets between funds**|**16**<br>**Analysis of net assets between funds**|**16**<br>**Analysis of net assets between funds**|||||
|---|---|---|---|---|---|---|
|**Unrestricted**<br>**funds**<br>**Designated**<br>**funds**<br>**2022**<br>**2022**<br>**£**<br>**£**<br>Fund balances at 31<br>March 2022 are<br>represented by:<br>Tangible assets<br>-<br>385,327<br>Current assets/(liabilities)<br>293,736<br>-<br>293,736<br>385,327|||**Total**<br>Unrestricted<br>funds<br>Designated<br>funds|||Total|
||||||||
||**2022**|**2022**|**2022**|2021|2021|2021|
||**£**|**£**|**£**|£|£|£|
||||||||
||-|385,327|385,327|-|401,221|401,221|
||293,736|-|293,736|306,336|-|306,336|
||||||||
||||||||
||293,736|385,327|679,063|306,336|401,221|707,557|



## **17 Related party transactions** 

There were no disclosable related party transactions during the year (2021 - none). 

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