# 



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||**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<br>37 - 40|





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|||**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**<br>**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|





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||**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|





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||**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|





## 

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||**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.||||





## 

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||**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|





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||**2024**|**2023**|
|---|---|---|
||£|£|
|I Norgett|66||
|A Cramphorn|**431**|253|



## 

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





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||**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|



## 

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||**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)|





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||**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|





## 

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||**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|