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|||||Pages|
|---|---|---|---|---|
|Reference and administrative
its directors
and advisers||details|ofthe charity,|1-2|
|Strategic report of the|directors|||3 -11|
|Directors'
report||||12 - 13|
|Independent
auditor's|report|||14 - 17|
|Statement
of comprehensive||income|||
|(including
income|and expenditure||account)|18|
|Statement
of changes|in equity|||19|
|Balance sheet||||20|
|Statement
of cash flows||||21|
|Notes to the financial|statements|||22-35|
##
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|Michele Quaife MBE|- Operations|Manager|
|---|---|---|
|Dot Wheeler|- Registered|Care Manager|
|Diane Fitzgerald|- Marketing|Manager|
|Lyndsay
Parker|- Manager,|Polly's Field|
|Alison Goldstein|- Manager,|Great Bradfords House|
|Sandra
Ryder|- Manager,|Wickham
House|
|Cass Murray|- Manager,|Felsted House|
|Dionne Hayes|- Finance Manager||
##
|Registration|Registration|Numbers:||||
|---|---|---|---|---|---|
|Company|||00945603|||
|Charity|||257782|||
|Housing||Corporation|H0340|||
|Bankers|||Barclays Bank pic|||
||||London Corporate||Banking|
||||93Baker Street|||
||||Marylebone|||
||||London|||
||||W1U 8ED|||
|Statutory|Auditor||SBAudit LLP|||
||||Chartered|Accountants||
||||820 The Crescent|||
||||Colchester|Business Park||
||||Colchester|||
||||Essex|||
||||CO4 9YQ|||
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|||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|---|
|||||funds|funds|funds'|funds|
|||||2023
f|2023
6|2023|2022|
||||Notes|||||
|Turnover|||3|3,196,958||3,196,958|1,672,306|
|Operating
expenditure|||3|(2,529,672)|(875,553)|(3,405,225)|(1,514,799)|
|Operating
surplus|||3,4|667,286|(875,553)|(208,267)|157,507|
|Other income||||||||
|Other interest
receivable||and||||||
|similar income|||5|5,675||5,675||
|Donations|||5|4,804||4,804|47,977|
|Sundry income|||5|17,353||17,353|2,814|
|Total comprehensive|Income|||||||
|for the year|||13|695,118|(875,553)|(180,435)|208,298|
|Net transfer to designated||||||||
|reserves|||13|(155,342)||(155,342)|432,071|
|Total comprehensive|Income|||||||
|for the year after|transfers|||8539,776|6 (875,553)|6(335,777)|f 640,369|
##
|||||Unrestricted|||
|---|---|---|---|---|---|---|
||||Unrestricted|Income and|||
||||Designated|expenditure|Restricted||
||||reserves
6|account
6|reserves
6|Totalf|
|At 1 April 2021|||4,547,112||985,184|5,532,296|
|Surplus/(deficit)|for|2021/22||317,929|(109,631)|208,298|
|Transfers
between||funds for|||||
|2021/22|||(432,071)|432,071|||
|At 31 March 2022|||4,115,041|750,000|875,553|5,740,594|
|(Deficit)/surplus|for|2022/23|(510,224)|1,205,342|(875,553)|(180,435)|
|Transfers
between||funds for|||||
|2022/23|||155,342|(155,342)|||
|At 31 March 2023|||63,760,159|61,800,000|6 -|65,560,159|
##
##
||AS AT 31 MARCH|2023|||||
|---|---|---|---|---|---|---|
|||||Notes|||
||||||2023|2022|
||Fixed assets||||||
||Housing
properties||||30,711,313|30,615,395|
||Other fixed assets||||27,573|25,952|
||Total tangible
fixed assets||||30,738,886|30,641,347|
||Current assets||||||
||Investments||||700,000||
||Debtors falling due within one year||||131,498|46,310|
||Debtors
falling due after more than one year||||446,721||
||Cash at bank and in|hand|||900,836|278,036|
||Creditors: amounts|falling due|||2,179,056|324,346|
||within one year|||10|(781,274)|(9,580,502)|
||Net current assets||||1,397,781|(9,256,156)|
||Total assets less current||liabilities||32,136,667|21,385,191|
||Creditors: amounts|falling due|||||
||after more than one year||||(26,576,508)|(15,644,597)|
||||||6 5,560,159|65,740,594|
||Capital and reserves||||||
||Designated
reserves|||13|3,760,159|4,115,041|
||Revenue
reserve|||13|1,800,000|750,000|
|.|Total unrestricted
reserves||||5,560,159|4,865,041|
||Restricted reserves|||13||875,553|
||||||E. 5,560,159|F.5,740,594|
##
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|YEAR ENDED 31 MARCH|202|3|||||
|---|---|---|---|---|---|---|
||||||2023|2022|
|||||Note|||
|Cash flows from operating|activities||||||
|(Deficit)/surplus
for the financial year|||||(180,435)|208,298|
|Depreciation|||||589,690|131,048|
|Social Housing
Grant release|||||(52,945)|(52,945)|
|Polly's Field Grant release|||||(362,267)||
|Deferred income release|||||(140,899)||
|Interest received|||||(5,675)||
|Increase
in debtors|||||(531,909)|(275)|
|Increase
in creditors|||||6,256,094|10,209,545|
|Net cash inflow from operating||activities|||5,571,654|10,495,671|
|Cash flows from investing|activities||||||
|Interest received|||||5,675||
|Fixed asset additions|||||(687,229)|(9,436,092)|
|Grants received|||||647,500|387,500|
|Net cash outflow from investing||activities|||(34,054)|(9,048,592)|
|Cash flows from financing|activities||||||
|Decrease
in loans|||||(4,214,800)|(1,203,355)|
|Net cash outflow from financing||activities|||(4,214,800)|(1,203,355)|
|Increase
in cash and cash|equivalents||||1,322,800|243,724|
|Cash and cash equivalents
the year|at the beginning||of||278,036|34,312|
|Cash and cash equivalents|at the end ofyear||||61,600,836|L 278,036|
|Cash at bank at the end of|the year||||900,836|278,036|
|Cash equivalents
at the end of||the year|||700,000||
|Cash and cash equivalents|at end ofyear|||22|6 1,600,836|6278,036|
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|TURNOVER||||||
|---|---|---|---|---|---|
|||||2023|2022|
|||||6|6|
|Income from lettings||and|care|||
|Rent/service|charges|(net of bad debts)||2,320,632|1,297,366|
|Voids||||(199,570)|(102,882)|
|Social Housing
Grant||release||52,945|52,945|
|Polly's Field|deferred|income release||140,899||
|Polly's Field|Grant release|||362,267||
|||||2,677,173|1,247,429|
|Care package fees
Other services from Care||||433,720
86,065|287,180|
|Other income: Polly's||Field|||137,697|
|Turnover||||63,196,958|6 1,672,306|
|Service costs||||1,955,143|1,091,274|
|Management|costs|||750,258|108,302|
|Repairs and|maintenance||costs|115,581|75,766|
|Depreciation||||589,690|131,048|
|Other costs|(net)|||(5,447)|(1,222)|
|||||3,405,225|1,405,168|
|Polly's Field development|||costs||109,631|
|Operating|expenditure|||E 3,405,225|5 1,514,799|
|Operating|(deficit)/surplus|||6(208,267)|6 157,507|
##
|||2023
6|2022f|
|---|---|---|---|
|Depreciation||589,690|131,048|
|Auditor's|remuneration|8,950|6,530|
##
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##
|||2023f|2022f|
|---|---|---|---|
|Wages|and salaries|1,326,392|876,485|
|Social|security costs|89,449|52,290|
|||f 1,415,841|f 928,775|
||||No|No|
|---|---|---|---|---|
|Executive|Committee||9|8|
|Operations|Manager||1|1|
|Senior Personnel|||7|6|
|Housekeepers,||Support workers, Carers and Domestic Helpers|90|67|
||||107|82|
##
##
|TANGIBLE FIXEDASSETS||||
|---|---|---|---|
||Freehold|Fixtures,||
||land and|fittings
and||
||buildings|equipment|Total|
|||E|E|
|Cost or valuation||||
|At 1 April 2022|32,898,157|755,587|33,653,744|
|Additions|677,454|9,775|687,229|
|At 31 March 2023|33,575,611|765,362|34,340,973|
|Depreciation
At 1 April 2022|2,282,762|729,635|3,012,397|
|Charge for the year|581,536|8,154|589,690|
|At 31 March 2023|2,864,298|737,789|3,602,087|
|Net book values||||
|At 31 March 2023|F 30,711,313|E.27,573|E30,738,886|
|At 31 March 2022|E 30,615,395|E25,952|E 30,641,347|
##
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|DEBTORS||||||
|---|---|---|---|---|---|
|||||2023|2022|
|||||6|6|
|Prepayments||||12,932|7,885|
|Rent debtors||||81,111|30,751|
|Other debtors||||7,674|7,674|
|Loan discounting|falling|due within one year||29,781||
|Loan discounting|falling|due after more than one year||446,721||
|||||6 578,219|646,310|
|CREDITORS: AMOUNTS|||FALLING DUE WITHIN ONE YEAR|||
|||||2023|2022|
|||||6|6|
|Trade creditors||||370,673|899,076|
|Other taxes and|social|security costs||43,136|44,228|
|Accruals and deferred||income||337,997|193,243|
|Other creditors||||29,468|29,155|
|Bank loan (secured)|||||8,414,800|
|||||6781,274|6 9,580,502|
##
##
|||2023|2022|
|---|---|---|---|
|||6|6|
|Deferred income||22,376,508|15,644,597|
|GBSocial Housing|loan|4,200,000||
|||6 26,576,508 6 15,644,597||
##
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##
||||||(Deficit)l|||
|---|---|---|---|---|---|---|---|
||||||surplus|||
|||||Balance|for the||Balance|
|||||1.4.22|year|Transfers|31.3.23|
|||||f.|f.|f|f|
|Restricted funds||||||||
|Polly's Field||||875,553|(875,553)|||
|Designated|funds|||||||
|Polly's
Field||||1,106,949|(510,224)|135,361|732,086|
|Major Repairs||- Felsted House||187,742||20,000|207,742|
|Refurbishment||of||||||
|Great Bradfords House||||434,730.|||434,730|
|Refurbishment||of Wickham||||||
|House||||347,960||20,000|367,960|
|Upgrade
of bathrooms||||250,000|||250,000|
|Fixed Asset Fund||||1,787,660||(20,019)|1,767,641|
|||||4,115,041|(510,224)|155,342|3,760,159|
|Income and|expenditure||account|||||
|Revenue
Reserve||||750,000|1,205,342|(155,342)|1,800,000|
|Totalreserv|s|||f 5,740,594|f(180,435)|E -|6 5,560,159|
##
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|||Unrestricted|Restricted|Total|
|---|---|---|---|---|
|||2023|2023|2023|
|||||8|
|Fixed assets||30,738,886||30,738,886|
|Current|assets|2,179,055||2,179,055|
|Current|liabilities|(781,274)||(781,274)|
|Long term liabilities||(26,576,508)||(26,576,508)|
|||65,560,159|6 -|6 5,560,159|
##
|||2023|2022|
|---|---|---|---|
|||6|F|
|Great Bradfords House||1,989,948|2,036,227|
|Wickham|House|200,000|206,666|
|Felsted|House|350,315|350,315|
|Polly's Field||4,178,751||
|||6 6,719,014|B2,593,208|
|Included|within:|2023
6|2022f|
|Deferred|income within one year|105,324|52,945|
|Deferred|income two to five years|680,295|211,778|
|Deferred|income after five years|5,933,395|2,328,485|
|||6 6,719,014|L 2,593,208|
##
##
|RELATED PARTY TRANSACTIONS|RELATED PARTY TRANSACTIONS|RELATED PARTY TRANSACTIONS||||
|---|---|---|---|---|---|
|The Society paid travel expenses
in respect|||of the|following Trustees:||
|||||2023|2022|
|A Cramphom||||f 253|f 264|
|No Trustee received|any other|remuneration|during|the year (2022 - fNil).||
|All transactions
are|conducted|on an arm's|length|basis.||
|Senior management|team remuneration
totalled f234,875 (2022 - f196,732).|||||
|CONTROL||||||
|The Society is controlled
by its||Board.||||
##
|18|ACCOMMODATION|ACCOMMODATION|IN MANAGEMENT|||
|---|---|---|---|---|---|
|||||2023|2022|
||Number|of units of|housing
accommodation|||
||At 1 April|2022 and|31 March 2023|165|66|
||Wickham|House provides
17(2022- 17)studios.||||
##
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||||||2023|2022|
|---|---|---|---|---|---|---|
|Financial|assets measured||at the transaction|price|8565,287|831,001|
|Financial|liabilities|measured|at the transaction|price|8 27,311,177|L 25,177,404|
##
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|||Balance at||Other|Balance at|
|---|---|---|---|---|---|
|||1 April||non-cash|31 March|
|||2022|Cash flows|changes|2023|
||||8||8|
|Cash||278,036|622,800||900,836|
|Cash|equivalents||700,000||700,000|
|Cash|and cash equivalents|278,036|1,322,800||1,600,836|
|Loans||(8,414,160)|4,214,160||(4,200,000)|
|||8 (8,136,124)|8 5,536,960|8 -|6(2,599,164)|
##
##
|||Unrestricted|Restricted|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2022|2022|2022|
|||f.|6|f.|
|Turnover||1,672,306||1,672,306|
|Operating
expenditure||(1,405,168)|(109,631)|(1,514,799)|
|Operating
surplus||267,138|(109,631)|157,507|
|Other income|||||
|Donations||47,977||47,977|
|Sundry
Income||2,814||2,814|
|Total comprehensive|income||||
|for the year||317,929|(109,631)|208,298|
|Net transfer lo designated|||||
|reserves||432,071||432,071|
|Total comprehensive|income||||
|for the year after|transfers|6750,000|6(109,631)|E640,369|