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|||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|
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|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||||
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|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|||||||||
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##
||||||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|
##
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||||||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|
##
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|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|
##
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##
|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|