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2020-12-31-accounts

Page
Legal and sdministrafive
information
Trustees' report 2-4
Statement oftrustees' responsibfiiTies
Independent
examiner's
report
Statement offinandal artivifies 7-8
Statement offinancial poslfion
Notes to fne linancial statements 10-17

Trustees Mrs E Hey (Chair) Mrs E Hey (Chair)
Dr SLowe (Resigned 18December 2020)
Mrs K Bailey
Mrs SCogingwood (Resigned 28 September 2020)
Mr G Blackstone (Appointed 27 January 2021)
Mrs H Button (Appointed 18February 2020)
Charity number 251379
Principal address 11Walmgate
York
YO1 9TX
Independent examiner N ClemitACA, FCCA
JWPCreers
LLP
Chartered Accountants
Genesis 5
Church Lane
York
YO105DQ
Bankers Nat West Bank Pic
1 Market Street
York
YO1 SSR
Sogcltors Ware &Kay LLP
Ware 8 Kay
Sentinel House
Peasholme
Green
York
YO1 7PP
Investment advisors Brewin Dolphin Ltd
10Wellington
Place
Leeds
LS1 4AN
Insurance bmker Grout Insurance Brokers Ltd
Woolwich House
43George Street
Croydon
Surrey
CR101LB

Financial review
The charity generated a surplus
on unrestricted
activities off2,800(2019:surplus		 of56,958).
During 2020 the vacancy st Flat 1 lead to a shorlfafi
in contributions
ofF1,635.
Going concern
After making
appropriate
enquiries,
the trustees
have a reasonable
expectation
that the charity has adequate		 resources to continue in
operational
existence
for the foreseeable
future.
For this reason,
they continue		 to adopt the going concern basis in preparing tile
finsncial statements.
Reserves policy
The trustees
must keep the size offunds under review in the light ofthe demands		 that may be made upon the funds. Vtfith this in mind,
the charity aims to maintain
free reserves above the level ofsix months of unrestricted		 expenditure.
Free reserves at		 the end of
December 2020 are f69,873(2019:f66,616),which
is above six months
expenditure
f27,672 (2019:623,682).		 based on 2020 unrestrided expenditure of
Investment
policy
The investment
value at 31 December 2020 has fafien from the value at the beginning
Paul Nliddicombe
of Srewin Dolphin
Itd, continue to be held annually.		 ofthe year. Meetings with the financial advisor,
Risk management
The trustees has assessed the major risks to which the charity isexposed,
and are satisfied that systems are in		 place to mitigate
exposure to the major risks.
Plans for futum years
Maintenance
work in the flats ongoing as a result ofinspedion
by Mulbeny		 PM
Work required as mentioned
in the Quinquennial
Inspedion
for years 2		 &3
Relocation ofgas meter to allow for communal
access
Flat 1 to be deaned
and continue
marketing
Refurbishment
works to communal
areas following water leak and insurance		 daim
Refurbishment
ofthree tlats to coincide with refurbishment
ofcommunal		 areas

Unrestricted Restricted Endowment Total Total
funds funds funds
2020 2020 2020 2020 2019
Notes 6 6 6 6 6
Income and endowments
Donations
and		 legacies 5,435 5,435
Charitable
activities		 50,188 50,188 51,823
Investments 2,202 11,345 13,547 15,630
Other mcome 319 319
Total income 58,144 11,345 69,489 67,453
Expenditure
Raising funds 346 3,648 3,994 4,283
Charitable
activities		 54,998 24,069 79,067 66,331
Total expenditure 55,344 27,717 83,061 70,614
Net gains/(losses) on investmenls (8,439) (5,022) (13,461) 51,965
Net income/(expenditure) before transfers 2,800 (24,811) (5,022) (27,033) 48,804
Gross transfers between funds 2,284 (2,284)
Net movement In funds 5,084 (27,095) (5,022) (27,033) 48,804
Fund balances at 1 January 2020 66,616 407,968 1,500,151 1,974,735 1,925,931
Fund balances at 31 December 2020 71,700 380,873 1,495,129 1,947,702 1,974,735

I/nrestricted Restricted Endowment Total
funda funds funds
2019 2019 2019 2019
Notes 8 6 6 6
Income and endowments
Charitable
activities		 51,823 51,823
Investments 2,499 13,131 15,630
Total Income 54,322 13,131 67,453
Expenditure
Raising funds 408 3,875 4,283
Charitable
activities		 46,956 19,375 66,331
Total expenditure 47,364 23,250 70,614
Net gains/(losses) on investments 44,839 7,126 51,965
Net Income/Iexpenditure) before transfers 6,958 34,720 7,126 48,804
Gross transfers between funds
Net movement in funds 6,958 34,720 7,126 48,804
Fund balances at 1 January 2019 59,658 373,248 1,493,025 1,925,931
Fund balances at 31 December 2019 66,616 407,968 1,500,151 1,974,735

2020 2019
Notes 8 8
Fixed assets
Tangible assets 12 1,399,827 1,398,000
Investments 13 455,299 472,754
1,855,126 1,870,754
Current assets
Debtors 15 4,854 3,926
Cash at bank and in hand 98,524 108,985
103,378 112,911
Creditors: amounts faglng due within one year 16 (10,802) (8,930)
Net current assets 92,576 103,981
Total assets less current gabilitles 1,947,702 1,974,735
Capitalfunds
Endowment
funds		 1,495,129 1,500,151
Income funds
Restricted funds 17 380,873 407,968
Unrestricted
funds -		 general 71,700 66,616
1,947,702 1,974,735

FOR THE YEAR ENDED 31DECEMB ER 20 20
Accounting
policies		 (Continued)
1.6 Tangible fixed assets
Tangible fated assets are initially
measured		 at cost and subsequently
measured		 at cost or valuation, net of depreciation and any
impairment
lasses.
Depreciation
is recognised
so as to write		 off the cost or valuation ofassets less their residual values over their useful lives on the
following bases:
Freehold land and buildings Nfi
Property
improvements		 20%straight
line
Equipment 20%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 ofthe asset, snd is recognised
in net		 income/(expenditure) for the year.
1.7 Fixed asset Investments
Fixed asset investments
are initially measured
at		 transaction
price exduding		 transadion costs, and are subsequently measured at
fair value at each reporting
date.
Changes		 in fair value are recognised
in net		 income/(expenditure) for the year. Transaction costs
are expensed as incurred.
1.6 Impairment
offixed assets
At each reporting
end date, the charily		 reviews the canying amounts of its tangible assets to determine whether there is any
indication
that those assets have suffered		 an impairment loss. Ifany such indication exists, the reooverable
amount of		 the asset is
estimated
in order to determine
the extent		 ofthe impairment
loss		 (ifany).
1.9 Cash and cash equivalents
Cash and cash equivalents
indude cash		 in hand, deposits
held at call with banks,		 other short-term liquid investments with original
maturities
ofthree months or less, and bank overdrafts.		 Bank overdralts are shown within borrowings in current liabilities.
1.10 Financial
Instruments
The charity
has elected
to apply
the provisions		 of Section 11 'Basic Financial Instruments' and Sedion 12 'Other Financial
Instruments
Issues' of FR S 102to afi ofits		 financial
instruments.
Financial
instruments
are recognised
in the charity's
balance sheet when the charity		 becomes party to the contractual provisions
ofthe instrument.
Basic Beano/a/ assets
Basic financial assets are measured
at transaction		 price including transaction. Financial assets classified as receivable within one
year are not amortised.
Bas/c financial I/abi/il/es
Basic financial
liabilities
are recognised		 at transadion price. Financial liabilities classified as payable within one year are not
amorlised.
Trade creditors
are obligations
to pay for		 goods or services that have been acquired in the ordinary course of operations from
suppliers.
Amounts
payable are classified		 as current
liabilities		 ifpayment is due within one year or less. Ifnot, they are presented
as non-current
liabilities. Trade creditors are recognised		 initially at transaction price and subsequently measured at amortised cost
using the effective interest method.
Employee benefits
The cost ofany unused
holiday entitlement		 is recognised in the period
in		 which the employee'6 services are received.
Termination
bench'ts
are recognised
immediately		 as an expense when the charity is demonstrably committed to terminate the
employment
ofan employee
orto provide		 termination
benefits.

Total Total
2020 2019
E 5
Legades receivable 5,435
3 Charitable activities
Charitable Charitable
activities activities
2020 2019
E E
Contributions from residents 50,188 51,823
Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
general general
2020 2020 2020 2019 2019 2019
E E E E E E
Income from listed
investments 2,114 11,345 13,459 2,122 13,131 15,253
Interest receivable 88 88 377 377
2,202 11,345 13,547 2,499 13,131 15,630

Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
general general
2020 2020 2020 2019 2019 2019
E E E E E E
Investment management fees 3,848 3,904 408 3,875 4,283
3,648 3,994 408 3,875 4,283
Charitable Charitable
activities activities
2020 2019
E E
Staffcosts 2,700 2,649
Depreciation 457
Provision of housing snd residents welfare 23,825 22,454
Repairs and improvements 28,195 21,276
55,177 46,379
Share ofsupport costs (see note 8) 21,854 17,600
Share ofgovernance costs (see note 8) 2,036 2,262
79,067 66,331
Analysis
by		 fund
Unrestricted funds - general 54,998 40,956
Restricted funds 24,069 19,375
79,067 66,331

Support cos ts
2020 2019
Support costs Governance 2020 Support costs Governance 2019
costs costs
6
Property management fees 18,208 18,208 17,400 17,400
Accountancy fees 240 240 290 290
Subscriptions 1,006 1,006
Professional fees 2,400 2,400
Independent examiners fee 1,686 1,686 1,854 1,854
Trustees indemnity insurance 350 350 408 408
21,854 2,036 23,890 17,690 2,262 19,952
Analysed between
Charitable actlviTies 21,854 2,036 23,890 17,690 2,262 19,952

2020 2019
Number Number
Total
Employment costs 2020 2018
8 6
Wages and salaries 2,700 2,649
Net gains/(losses) on Investments
Restricted Endowment Total Restricted Endowment Total
funds funds funds funds
2020 2020 2020 2019 2019 2019
f 5 8 5 6
Revaluation ofinvestments (8,102) (3,469) (11,571) 44,839 7,126 51,965
Gain/(loss) on sale of
investments (337) (1,553) (1,890)
(8,439) (5,022) (13,461) 44,839 7,126 51,965

Tangible fixed assets
Freehold land Property Equipment Total
and buildings improvements
E E
Cost orvaluation
At 1 January 2020 1,398,000 56,732 12,558 1,467,290
Additions 2,284 2,284
At 31 December 2020 1,398,000 59,016 12,558 1,469,574
Depreciation
At 1 Januaiy 2020 56,732 12,558 69,290
Depreciation
charged		 in the year 457 457
At 31 December 2020 57,189 12,558 69,747
Carrying
amount
At 31 December 2020 1,398,000 1,827 1,399,827
At 31 December 2019 1,398,000 1,398,000
Listed Cash In portfolio Listed Cash In portfolio Total
investments
E E
Valuation
At 1 January 2020 464,450 8,304 472,754
Additions 9,995 13,163 23,158
Valuation changes (11,572) (11,572)
Disposals (15,052) (13,989) (29,041)
At 31 December 2020 447,821 7,478 455,299
Carrying amount
At 31 December 2020 447,821 7,478 455,299
At 31 December 2019 464,450 8,304 472,754
Fixed asset investments revalued
The historic cost oflisted investments is 2387,603(2019iE393,142).
Financial instruments 2020 2019
E E
Csnylng amount of financial assets
Instruments measured at fair value through profit or loss 447,821 464,450

15 Debtors
2020 2019
Amounts
faglng due		 within one year: E 8
Trade debtors 1,474 1,060
Prepayments and accrued income 3,380 2,866
4,854 3,926
18 Credltomi amounts faglng due within one year
2020 2019
8 2
Accrusls and deferred income 10,802 8,930
17 Restricted funds
The income funds of the charity include restricted funds comprising for specific purposes.
Movement in funds
Balance at income Expenditure Transfers Revaluations, Balance st
1 January 2020 gains and 31December
losses 2020
f E
Extraordinary repair fund 273,871 8,830 (19,465) (10,805) 252,431
Cydical maintenance fund 134,097 2,515 (8,252) (2,284) 2,366 128,442
407,968 11,345 (27,717) (2,284) (8,439) 380,873
Movement in funds
Balance at Income Expenditure Transfers Revaluations, Balance at
1 January 2019 gains snd
losses		 31 December
2019
8 2
Extraordinary repair fund 246,218 10,003 (19,796) 37,446 273,871
Cydical maintenance fund 127,030 3,128 (3,454) 7,393 134,097
373,248 13.131 (23,250) 44,839 407,968

Unrestricted Restricted Endowment Total
funds funds funds
2020 2020 2020 2020
8 8 8
Fund balances at 31 December 2020 are represented by:
Tangible assets 1,827 1,398,000 1,399,827
Investments 408,889 46,410 455,299
Current assets/(liabilities) 69,873 (28,016) 50,719 92,576
71,700 380,873 1,495,129 1,947,702
Unrestricted Restricted Endowment Total
funds funds funds
2019 2019 2019 2019
6 f f 6
Fund balances at 31 December 2019are represented by:
Tangible assets 1,398,000 1,398,000
Investments 8,306 412,915 51,533 472,754
Current assets/(liabilities) 58,310 (4,947) 50,618 103,981
66,616 407,968 1,500,151 1,974,735