2024-03-31-accounts

	Pages
Reference and administrative details of the charity,
its directors and advisers	1 - 2
Strategic report of the directors	3 -11
Directors’ report	12 - 13
Independent auditor’s report	14 - 17
Statement ofcomprehensive 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

The following pages do not form part of the statutory financial statements:
Detailed income and expenditure account 37 - 40

		Unrestricted	Restricted	Total	Total
		funds	funds	funds	funds
		2024	2024	2024	2023
		£	£	£	£
	Notes
Turnover	3	3,835,629		3,835,629	3,196,958
Operating expenditure	3	(3,597,055)	-	(3,597,055)	(3,405,225)
Operating surplus	3,4	238,574		238,574	(208,267)
Other income	5
Other interest receivable and
similar income		23,877		23,877	5,675
Donations		9,856		9,856	4,804
Sundry income		21,296		21,296	17,353
Total comprehensive income
for the year	13	293,603		293,603	(180,435)
Net transfer to designated
reserves	13	(109,177)		(109,177)	(155,342)
Total comprehensive income
for the year after transfers		£ 184,426	£ -	£ 184,426	£ (335,777)

		Unrestricted
	Unrestricted	Income and
	Designated	expenditure	Restricted
	reserves	account	reserves	Total
	£	£	£	£
At 1 April 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	3,760,159	1,800,000	-	5,560,159
(Deficit)/surplus for 2023/24	(92,554)	386,157	-	293,603
Transfers between funds for
2023/24	109,177	(109,177)	-	-
At 31 March 2024	£ 3,776,782	£ 2,076,980	£ -	£ 5,853,762

BALANCE SHEET AS AT 31 MARCH 2024
	Notes
		2024	2023
		£	£
Fixed assets
Housing properties	7	30,210,309	30,711,313
Other fixed assets	7	111,479	27,573
Total tangible fixed assets		30,321,788	30,738,886
Current assets
Investments	8	905,903	700,000
Debtors falling due within one year	9	202,863	131,498
Debtors falling due after more than one year	9	418,801	446,721
Cash at bank and in hand		574,063	900,836
		2,101,630	2,179,055
Creditors: amounts falling due
within one year	10	(1,110,148)	(781,274)
Net current assets		991,482	1,397,781
Total assets less current liabilities		31,313,270	32,136,667
Creditors: amounts falling due
after more than one year	11	(25,459,508)	(26,576,508)
		£ 5,853,762	£5,560,159
Capital and reserves
Designated reserves	13	3,776,782	3,760,159
Revenue reserve	13	2,076,980	1,800,000
Total unrestricted reserves		5,853,762	5,560,159
Restricted reserves	13	-	-
		£ 5,853,762	£ 5,560,159

		2024	2023
	Note	£	£
Cash flows from operating activities
Surplus(deficit)/ for the financial year		293,603	(180,435)
Depreciation		573,026	589,690
Social Housing Grant release		(52,945)	(52,945)
Polly’s Field Grant release		(53,267)	(362,267)
Deferred income release		(157,980)	(140,899)
Interest received		(23,877)	(5,675)
Increase in debtors		(43,445)	(531,909)
(Decrease)/increase in creditors		(523,934)	6,256,094
Net cash inflow from operating activities		11,181	5,571,654
Cash flows from investing activities
Interest received		23,877	5,675
Fixed asset additions		(155,928)	(687,229)
Grants received			647,500
Net cash outflow from investing activities		(132,051)	(34,054)
Cash flows from financing activities
Decrease in loans			(4,214,800)
Net cash outflow from financing activities			(4,214,800)
(Decrease)/increase in cash and cash
equivalents		(120,870)	1,322,800
Cash and cash equivalents at the beginning of
the year		1,600,836	278,036
Cash and cash equivalents at the end of year		£ 1,479,966	£ 1,600,836
Cash at bank at the end of the year		574,063	900,836
Cash equivalents at the end of the year		905,903	700,000
Cash and cash equivalents at end of year	22	£ 1,479,966	£ 1,600,836

	2024	2023
	£	£
Income from lettings and care
Rent/service charges (net of bad debts)	3,013,925	2,320,632
Voids	(246,414)	(199,570)
Social Housing Grant release	52,945	52,945
Polly’s Field deferred income release	157,980	140,899
Polly’s Field Grant release	53,267	362,267
	3,031,703	2,677,173
Care package fees	681,896	433,720
Other services from Care	122,030	86,065
Turnover	£ 3,835,629	£ 3,196,958
Service costs	2,309,139	1,955,143
Management costs	540,092	750,258
Repairs and maintenance costs	173,189	115,581
Depreciation	573,026	589,690
Other costs (net)	1,609	(5,447)
Operating expenditure	£ 3,597,055	£ 3,405,225
Operating surplus/(deficit)	£ 238,574	£ (208,267)

	2024	2023
	**£ **	£
Depreciation	**573,026 **	589,690
Auditor’s remuneration	9,500	8,950

	2024	2023
	£	£
Wages and salaries	1,570,241	1,326,392
Social security costs	111,669	89,449
	**£1,681,910 **	£ 1,415,841

	No	No
Executive Committee	8	9
Operations Manager	1	1
Senior Personnel	7	7
Housekeepers, Support workers, Carers
and Domestic Helpers	99	90
	115	107

	Freehold	Fixtures,
	land and	fittings and
	buildings	equipment	Total
	£	£	£
Cost or valuation
At 1 April 2023	33,575,611	765,362	34,340,973
Additions	60,570	95,358	155,928
At 31 March 2024	33,636,181	860,720	34,496,901
Depreciation
At 1 April 2023	2,864,298	737,789	3,602,087
Charge for the year	561,574	11,452	573,026
At 31 March 2024	3,425,872	749,241	4,175,113
Net book values
At 31 March 2024	£30,210,309	£ 111,479	£30,321,788
At 31 March 2023	£30,711,313	£ 27,573	£30,738,886

		2024		2023
Cash deposits	**£ **	905,903	£	700,000

	2024	2023
	£	£
Prepayments	57,847	12,932
Rent debtors	107,422	81,111
Other debtors	7,673	7,674
Loan discounting falling due within one year	29,921	29,781
Loan discounting falling due after more than one year	418,801	446,721
	£621,664	£ 578,219

	2024	2023
	£	£
Trade creditors	385,904	370,673
Other taxes and social security costs	44,529	43,136
Accruals and deferred income	629,483	337,997
Other creditors	50,232	29,468
	£ 1,110,148	£ 781,274

	2024	2023
	£	£
Deferred income	21,259,508	22,376,508
GB Social Housing loan	4,200,000	4,200,000
	**£ 25,459,508 **	£ 26,576,508

		(Deficit)/
		surplus
	Balance	for the		Balance
	1.4.23	year	Transfers	31.3.24
	£	£	£	£
Designated funds
Polly’s Field	732,086	(92,554)	.	639,532
Major Repairs - Felsted House	207,742	-	20,000	227,742
Refurbishment of
Great Bradfords House	434,730		30,000	464,730
Refurbishment of Wickham
House	367,960		20,000	387,960
Polly’s Field maintenance fund	-	-	50,000	50,000
Upgrade of bathrooms	250,000	-	-	250,000
Fixed Asset Fund	1,767,641	-	(10,823)	1,756,818
	3,760,159	(92,554)	109,177	3,776,782
Income and expenditure account
Revenue Reserve	1,800,000	386,157	(109,177)	2,076,980
Total reserves	£ 5,560,159	£ 293,603	£ -	£ 5,853,762
Polly’s Field	Designated reserve	is in respect of further development of
	the scheme.

	Unrestricted	Restricted	Total
	2024	2024	2024
	£	£	£
Fixed assets	30,321,788	_	30,321,788
Current assets	2,101,630	-	2,101,630
Current liabilities	(1,110,148)	-	(1,110,148)
Long term liabilities	(25,459,508)	-	(25,459,508)
	£ 5,853,762	£ -	£ 5,853,762

	2024	2023
	£	£
Great Bradfords House	1,943,671	1,989,948
Wickham House	193,333	200,000
Felsted House	350,315	350,315
Polly’s Field	4,125,481	4,178,751
	£6,612,800	£6,719,014
	2024	2023
Included within:	£	£
Deferred income within one year	104,436	105,324
Deferred income two to five years	624,944	680,295
Deferred income after five years	5,883,420	5,933,395
	£6,612,800	£6,719,014

	2024	2023
	£	£
I Norgett	66
A Cramphorn	431	253

	2024	2023
Numberofunits of housing accommodation
At 1 April 2023 and 31 March 2024	165	165

	2024	2023
Financial assets measured at the transaction price	£563,817	£ 565,287
Financial liabilities measured at the transaction price	£26,521,660	£27,311,177

	Balance at		Other	Balance at
	1 April		non-cash	31 March
	2023	Cash flows	changes	2024
	£	£	£	£
Cash	900,836	(326,773)	-	574,063
Cash equivalents	700,000	205,903		905,903
Cash and cash equivalents	1,600,836	(120,870)	-	1,479,966
Loans	(4,200,000)	-	-	(4,200,000)
	£ (2,599,164)	£(120,870)	£ -	£ (2,720,034)

	Unrestricted	Restricted	Total
	funds	funds	funds
	2023	2023	2023
	£	£	£
Turnover	3,196,958		3,196,958
Operating expenditure	(2,529,672)	(875,553)	(3,405,225)
Operating surplus	667,286	(875,553)	(208,267)
Other income
Other interest receivable and
similar income	5,675	-	5,675
Donations	4,804	-	4,804
Sundry income	17,353	-	17,353
Total comprehensive income	695,118	(875,553)	(180,435)
for the year
Net transfer to designated
reserves	(155,342)	-	(155,342)
Total comprehensive income
for the year after transfers	£ 539,776	£ (875,553)	£ (335,777)

	Great
	Bradfords	Wickham	Felsted	Polly’s	Total
	House	House	House	Field	2024	2023
	£	£	£	£	£	£
Income
Rent/service charges to residents	709,733	419,019	372,978	1,512,195	3,013,925	2,320,632
Voids	(30,188)	(136,056)	(72,618)	(7,552)	(246,414)	(199,570)
Polly’s Field Grant Release	-	-	-	53,267	53,267	362,267
Release of Polly’s Field
deferred income				157,980	157,980	140,889
Social Housing Grant Release	-	-	-	52,945	52,945	52,945
	679,545	282,963	300,360	1,768,835	3,031,703	2,677,173
Care package fees	322,314	_	_	359,582	681,896	433,720
Other services from Care	118,004	-	-	4,026	122,030	86,065
Total income	1,119,863	282,963	300,360	2,132,443	3,835,629	3,196,958
Expenditure
Management and	74,866	24,831	25,716	414,679	540,092	750,258
administration
Depreciation	86,173	21,745	19,942	445,166	573,026	589,690
Repairs and maintenance	57,494	22,890	19,552	73,253	173,189	115,581
Service costs	1,263,982	239,390	213,496	592,271	2,309,139	1,955,143
Other costs (net)	1,609	-	-	-	1,609	(5,447)
Total Expenditure carried forward	1,484,124	308,856	278,706	1,525,369	3,597,055	3,405,225

		Great
		Bradfords	Wickham	Felsted	Polly’s	Total
		House	House	House	Field	2024	2023
		£	£	£	£	£	£
Total Expenditure		1,484,124	308,856	278,706	1,525,369	3,597,055	3,405,225
Surplus/(deficit) for the year before						238,574	(208,267)
additional Society income						**-------------- **	--------------
Additional Society income
Bank deposit interest	received					23,877	5,675
Sundry income						21,296	17,353
Donations						9,856	4,804
Total additional net	income					55,029	27,832
Surplus/(deficit) for the year
(before transfers)						£293,603	£(180,435)

	Great
	Bradfords	Wickham	Felsted	Polly’s	Total
	House	House	House	Field	2024	2023
	£	£	£	£	£	£
Management and
administration
Rates and water	9,563	3,036	3,612	32,789	49,000	42,186
Property insurance	14,552	8,316	6,930	26,333	56,131	55,260
Audit and accountancy	4,133	2,362	1,968	7,478	15,941	10,994
Affiliation fee	6,530	3,767	3,265	11,553	25,115	25,797
Telephone	2,690	1,710	1,679	3,760	9,839	5,710
Advertising	1,297	1,709	2,818	2,542	8,366	28,513
Travel	194	94	106	242	636	103
Printing, postage and
stationery	446	289	324	1,127	2,186	5,725
Legal and professional fees	184	90	74	11,964	12,312	7,007
General	3,330	758	1,071	8,008	13,167	21,268
Bank charges	377	258	248	28,567	29,450	396,570
Garden upkeep	2,152	2,417	3,524	18,624	26,717	17,144
Loan fees and interest	-	-	-	261,667	261,667	99,919
Training	25	25	97	25	172	3,361
Bookkeeping	-	-	-	-	-	1,505
Care costs
(excluding staff costs)	29,393		.	_	29,393	29,196
	74,866	24,831	25,716	414,679	540,092	750,258

	Great
	Bradfords	Wickham	Felsted	Polly’s	Total
	House	House	House	Field	2024	2023
	£	£	£	£	£	£
Depreciation	86,173	21,745	19,942	445,166	573,026	589,690
Repairs and maintenance	57,494	22,890	19,552	73,253	173,189	115,581
Service costs
Wages and national insurance	190,911	189,222	169,487	252,884	802,504	635,167
Wages and national insurance - care
staff	870,567				870,567	674,100
Recruitment expenses	9	29	16	64	118	-
Housekeeping and catering	45,565	16,569	20,094	-	82,228	183,583
Tunstall	3,161	-	-	-	3,161	600
Light and heat	43,028	18,441	10,628	145,515	217,612	213,118
Cleaning	4,282	3,072	2,219	15,425	24,998	52,294
Support costs	106,459	12,057	11,052	178,383	307,951	196,281
	1,263,982	239,390	213,496	592,271	2,309,139	1,955,143