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2020-09-30-accounts

Page
Information
Board Report 2-7
Independent Auditors' Report 8-10
Statement of Comprehensive Income
Balance Sheet
Statement of Changes in Reserves 13
Statement of Cash Flows 14
Notes to the Financial Statements 15-25

VICE PRESIDENTS M L Brooks
M Dickman
J Grenfell
R H Nash
E Langston
(Chair)
DIRECTORS STouzel (Vice Chair) (resigned '12 March 2020)
M D Innes
G D M Oakhill (resigned 27 November 2019)
H Richards
(appointed		 20 March 2020)
A C Smith (appointed 12 March 2020)
D FWood (appointed 12 March 2020)
CHIEF EXECUTIVE Ms F Stretton
COMPANY SECRETARY Mrs F Meaking
REGISTERED NUMBER 00872566
REGISTERED OFFICE 29Alma Vale Road
Clifton
Bristol
BS82HL
INDEPENDENT AUDITORS Bishop Fleming LLP
Chartered
Accountants		 8 Statutory Auditors
10Temple Back
Bristol
BS16FL
SOLICITORS Cook 8 Co
77-81 Alma Road
Clifton
Bristol
BS82DP

ZC I&
Trcrrrovor 4 1,844,948 1,857,217
Oporatng cos' (1,813,430) (1,778,163)
GROSS (DEFIC~SURPLUS (88,385) 79.954
Qrhar oparartng
irrcorrw		 36,295 211
OPERATING (DEFICIT)lSURPLUS (39,189) 79„265
interest receivable
and err)iiar		 iniorr'ro 7 2821 2 5~4
Irilerest poyablo arid expense ' (4„458) f,5,403)
(DEFICIT)SURPLUS (49,718) 75,395

2020 20ig
Note 6
FIXED ASSETS
Tangible asM,ts 8,192,080 6,393,60&
CURRENT ASSETS
Debtors: amounts felling due within onc year 13 48.112 36,162
cash at beni' and in hand 808,866 660,957
856,978 733,129
Creditor=: amounts falling due within cne
veal {247,170} {180,761)
NET CURRENT ASSETS 609,808
TOTAL ASSETSLESSCURRENT
LIABILITIES 8„801,888 8,936,977
Creditors. amounts
than one year		 failing due atter more {3,229,494} (3,323,868)
NET ASSETS 5,572,394 5.613,109
CAPtTAL ANO RESERVES
income end eigienditure
reserve		 6,572,394 5,813,109
5,572,394 5b13109

Income and
expenditure
reserve Total
E
At 1 October 2016 5,536,714 5,536,714
COMPREHENSIVE INCOME FOR THE YEAR
Surplus for the year 76,395 76,395
At 1 October 2019 5,613,109 5,613,109
COMPREHENSIVE INCOME FOR THE YEAR
Deficit for the year (40,715) (40,715)
AT 30SEPTEMBER2020 5,572,394 5,572,394

2020 2019
E E
CASH FLOWS FROM OPERATING ACTIVITIES
Surplus/(deficit)
for the financial year		 (40,715) 76,395
ADJUSTMENTS FOR:
Depreciation
oftangible assets		 212,977 218,433
Interest paid 4,457 5,403
Interest received (2,921) (2,533)
(Increase)/decrease
in debtors		 (11,950) 7,568
(Decrease)
in creditors		 (13,280) (51,444)
NET CASH GENERATED FROM OPERATING ACTIVITIES 148,568 253,&22
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase oftangible
fixed assets		 (11,448) (49,751)
Interest received 2,921 2,533
NET CASH FROM INVESTING ACTIVITIES (8,527) (47,218)
CASH FLOWS FROM FINANCING ACTIVITIES
Repayment
ofloans		 (23,596) (23,595)
Repayment
ofother loans		 (89) (82)
Interest paid (4,457) (5,403)
NET CASH USED IN FINANCING ACTIVITIES (28,142) (29,080)
INCREASE IN CASH AND CASH EQUIVALENTS 111,899 177,524
Cash and cash equivalents
at beginning		 ofyear 696,967 519,443
CASH AND CASH EQUIVALENTS AT THE END OF YEAR 808,866 696,967
CASH AND CASH EQUIVALENTS AT THE END OF YEAR COMPRISE:
Cash at bank and
in hand		 808,866 696,967
80&,866 696,967

SOCIAL HOU SING T URNOV ER AND CO STS
2020 2019
F E
Gross social housing rent 2,058,922 1,973,513
Voids (285,793) (191,499)
Resident subsidies (3,793) (2,282)
Other income from residents 4,454 6,795
Net rent receivable 1,773,790 1,786,527
Capital grant income (through accruals model) 70,255 70,690
Turnover 1,844,045 1,857,217
Social housing activity expenditure (1,913,430) (1,778,163)
Net (deficit)/surplus from social housing activities (69,385) 79,054

5. ACCOMIIODATION ACCOMIIODATION UNITS UNITS
The Society owned the following bed spaces available for occupation and in development:
2020 2019
No No
Social Housing
Lettings
Supported sheltered 89 89
6. OTHER OPERATING INCOME
2020 2019
F F
Donations 50 211
Covid Job Retention Scheme income and other related grants 30,155
30,205 211
7. INTEREST RECEIVABLE
2020 2019
E E
Bank interest receivable 2,921 2,533
8. INTEREST PAYABLE AND SIMILAR EXPENSES
2020f 2019
Bank interest payable 2,950 3,889
Other loan interest payable 1,506 1,514
4,456 5,403
9. SURPLUS/(DEFICIT) ON ORDINARY ACTIVITIES
The surplus/(deficit)
on		 ordinary activities is stated after charging:
2020f 2019
Depreciation oftangible fixed assets 212,977 218,433
Operating
lease rentals		 19,135 19,135

Social
housing Motor Fixtures and
property vehicles fittings Total
F F F K
COST
At 1 October 2019 10,110,213 23,156 356,649 10,490,018
Additions 8,448 3,000 11,448
At 30September 2020 10,118,661 23,156 359,649 10,501,466
DEPRECIATION
At 1 October 2019 1,821,051 7,772 267,586 2,096,409
Charge for the year on owned assets 190,929 3,846 18,202 212,977
At 30September 2020 2,011,980 11,618 285,788 2,309,386
NET BOOK VALUE
At 30September 2020 8,106,681 11,538 73,861 8,192,080
At 30September 2019 8,289,162 15,384 89063 8393609

DEBTORS
2020 2019
Trade debtors 19,934 8,177
Other debtors 265 265
Prepayments and accrued income 27,913 27,720
48,112 36,162

CREDITORS: AMOUNTS
FALLING DUE WITHIN ONE		 YEAR
2020 2019
F F
Bank loans 23,595 23,595
Mortgage
loan		 70 70
Trade creditors 88,764 59,485
Other taxation and social security 15,950 13,939
Other creditors 16,450 16,438
Accruals 102,341 76,234
247,170 189,761

CREDITORS: AMOUNTS
FALLING DUE AFTER M		 ORE THAN ONE YEAR
2020 2019
K
Bank loans 106,180 129,775
Mortgage
loan		 17,078 17,167
Deferred grant income 3,106,236 3,176,926
3,229,494 3,323,868
2020 2019
f E
Deferred grant income
Balance at 1 October 3,176,926 3,247,616
Grants received
Amortisation (70,690) (70,690)
Balanceat30September 3,106,236 3,176,926

2020f 2019
E
AMOUNTS FALLING DUE WITHIN ONE YEAR
Bank loans 23,595 23,595
Mortgage
loan		 70 70
23,665 23,665
AMOUNTS FALLING DUE 1-2YEARS
Bank loans 23,595 23,595
Mortgage
loan		 70 70
23,665 23,665
AMOUNTS FALLING DUE 2-5YEARS
Bank loans 70,785 70,785
Mortgage
loan		 210 210
70,995 70,995
AMOUNTS FALLING DUE AFTER MORE THAN 5YEARS
Bank loans 11,800 35,395
Mortgage
loan		 16,798 16,887
28,598 52,282
146,923 170,607

2020 2019
E
FINANCIAL ASSETS
Financial assets that are debt instruments measured at amortised cost &29,484 705,409
FINANCIAL LIABILITIES
Financial liabilities measured at amortised cost (337,506) (306,326)

At 30 September
2020 the Society had
future
minimum
lease
operating
leases for each ofthe following
periods:		 payments
due
under
non-		 cancellable
2020 2019
F
Not later than one year 19,135 19,135
Later than one year and not later than five years 12,375 31,510
31,510 50,645