THE PASS HOUSING ASSOCIATION LIMITED (LIMITED BY GUARANTEE) (UNAUDITED ACCOUNTS)
Annual Report and Accounts for the year ended 31st December, 2021
Company Number 970913
Charity Number 260607
THE PASS HOUSING ASSOCIATION LIMITED (LIMITED BY GUARANTEE) (UNAUDITED ACCOUNTS)
| CONTENTS Legal and Administrative Information Trustee's Report Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Account |
PAGE |
|---|---|
| 1 2-3 4 5 6 7-9 |
THE PASS HOUSING ASSOCIATION LIMITED (LIMITED BY GUARANTEE)
(UNAUDITED ACCOUNTS) LEGAL AND ADMINISTRATIVE INFORMATION
CHARITY NAME - The Pass Housing Association Limited CHARITY REGISTRATION NUMBER - 260607 REGISTERED OFFICE - First Floor Suite Drapers House Market Place Sturminster Newton Dorset DT10 1AS REGISTERED NUMBER - 970913
TRUSTEES AND OFFICERS -
Chairman - Mr A Stevens Vice-Chairman - Mrs J Legg Other Trustees - Mr C Kennedy Mr J Snook Ms E Daros Mr R Laverton Secretary - Mrs M Brooks
During the year the following officers ret rotation and were re-elected - Mrs J Legg Ms E Daros
THE PASS HOUSING ASSOCIATION LIMITED (LIMITED BY GUARANTEE) (UNAUDITED ACCOUNTS) TRUSTEES' REPORT
The trustees present their report and the accounts for the year ended 31st December 2021
The legal and administrative information set out on page 1 forms part of this report. The a current statutory requirements, the memorandum and articles of association and the State Recommended Practice "Accounting and Reporting by Charities" SORP (FRS 102).
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Association was incorporated on 26th January 1970. It is limited by guarantee and is r charity with the Charity Commission. The affairs of the Association are governed by its me articles of association. The liability of the members in the event of the Association being w to a sum not exceeding £5.
Responsibility for the management of the Association and its assets is vested in the Board o are six members (listed on page 1), all of whom act in a voluntary capacity and were electe Trustee turnover is low and therefore no formal policy for the current recruitment and appointment of trustees is considered necessary. No staff are employed by the Association
OBJECTIVES AND ACTIVITIES FOR THE PUBLIC BENEFIT
The Association continued its policy of providing accommodation to cater for the special ne needing care and attention through age, infirmity, sickness, disability or poverty and either the parish of Wootton Fitzpaine or having resided in the parish or the immediate vicinity fo years. The trustees confirm that they have referred to the guidance contained in the Chari general guidance on public benefit when reviewing the Trust's aims and objectives and in p activities.
ACHIEVEMENTS AND PERFORMANCE
Eleven of the Association's twelve properties in Wootton Fitzpaine were let throughout the One was empty for the final nine months of 2021. The Association continued to charge rent receive bank interest, total income for the year being £76,532 compared with £81,792 in the previous year. General property repairs and maintenance works were carried out in the year amounting to £14,497 (2020:- £11,953).
FINANCIAL REVIEW AND RESERVES POLICY
Decreased rental income and decreased repairs expenditure resulted in a surplus of £34,20 £42,687), funds now standing at £384,574 (2020:- £350,372). The trustees consider the sta Association's affairs to be satisfactory.
All the Association's funds are unrestricted and therefore expendable at the trustees' discre charitable purposes of the Association. Reserves are required to meet both general mainte and to set aside any excess towards major repairs or furture property improvements.
THE PASS HOUSING ASSOCIATION LIMITED (LIMITED BY GUARANTEE) (UNAUDITED ACCOUNTS) TRUSTEES' REPORT (CONTINUED)
TRUSTEES RESPONSIBILITIES
The trustees (who are also the directors of The Pass Housing Association Limited for the pu law) are responsible for preparing the annual report and the financial statements in accord law and regulations.
Company law requires the trustees to prepare financial statements for each financial year. directors have elected to prepare the financial statements in accordance with United Kingd Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the trustees must not approve the financial statements unless they are give a true and fair view of the state of affairs of the charitable company and the net incom the charitable company for that period.
In preparing these financial statements, the trustees are required to:
-
Select suitable accounting policies and then apply them consistently;
-
Make judgements and estimates that are reasonable and prudent; and
-
Prepare the financial statements on the going concern basis unless it is inappropriat that the charity will continue in business.
The trustees are responsible for maintaining proper accounting records which disclose with at any time the financial position of the charity and enables them to ensure that the financi with the Companies Act 2006. The trustees are also responsible for safeguarding the asset and hence for taking reasonable steps for the prevention and detection of fraud and other i
This report has been prepared in accordance with Charities SORP (FRS102).
Approved by the trustees on 16th May 2022
and signed on their behalf by Mr A Stevens
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES ON THE UNAUDITED FINANCIAL STATEMENTS OF THE PASS HOUSING ASSOCIATION LIMITED
(LIMITED BY GUARANTEE)
I report on the accounts of the Pass Housing Association Limited for the year ended 31st D which are set out on pages 5 to 9.
RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER
The trustees (who are also directors of the company for the purposes of company law) are r preparation of the accounts. The trustees consider that an audit is not required for this yea 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is nee
Having satisfied myself that the charity is not subject to audit under company law and is el independent examination, it is my responsibility to:
-
examine the accounts under section 145 of the 2011 Act;
-
follow the procedures laid down in the general Directions given by the Charity Comm under section 145(5)(b) of the 2011 Act; and
-
state whether particular matters have come to our attention
BASIS OF INDEPENDENT EXAMINER'S REPORT
My examination was carried out in accordance with the general Directions given by the Ch the accounts, and seeking explanations from you as trustees concerning any such matters. accounts presented with those records. It also includes consideration of any unusual items the accounts, and seeking explanations from you as trustees concerning any such matters. undertaken do not provide all the evidence that would be required in an audit and consequ given as to whether the accounts present a 'true and fair view' and the report is limited to t in the statement below.
INDEPENDENT EXAMINER'S STATEMENT
In connection with my examination, no matter has come to my attention:
-
(1) which gives me reasonable cause to believe that in any material respect the requirem
-
to keep accounting records in accordance with Charities SORP (FRS 102); and
-
to prepare accounts which accord with accounting records, comply with the account requirements of Charities SOPRP (FRS 102) and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities
-
have not been met: or
-
(2) to which, in my opinion, attention should be drawn in order to enable a proper unders accounts to be reached.
S J Christopher BA (hons) Econ FCA CTA
Chartered Accountant First Floor Suite Drapers House Market Place STURMINSTER NEWTON, Dorset.
16th May 2022
4
THE PASS HOUSING ASSOCIATION LIMITED (LIMITED BY GUARANTEE) (UNAUDITED ACCOUNTS) STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31ST DECEMBER, 2021
| Note INCOME FROM Rent Receivable Bank Interest TOTAL INCOME EXPENDITURE ON Charitable Activities Property Costs 2 Other Costs 3 TOTAL EXPENDITURE NEW MOVEMENT IN FUNDS 4 RECONCILLIATION OF FUNDS Funds Brought Forward FUNDS CARRIED FORWARD |
2021 (unrestricted) 76,532 13 |
|---|---|
| 76,545 | |
| 39,518 2,825 |
|
| 42,343 | |
| 34,202 | |
| 350,372 | |
| 384,574 |
5
THE PASS HOUSING ASSOCIATION LIMITED
(LIMITED BY GUARANTEE) (UNAUDITED ACCOUNTS) BALANCE SHEET AS AT 31ST DECEMBER, 2021
| Note TANGIBLE FIXED ASSETS 5 INTANGIBLE FIXED ASSETS CURRENT ASSETS Debtors 6 Cash at Bank CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 7 NET CURRENT ASSETS CREDITORS: AMOUNTS FALLING DUE AFTER ONE YEAR 8 NET ASSETS FUNDS Unrestricted Funds |
2021 | |
|---|---|---|
| 255,071 | ||
| 1,036 | ||
| 19,531 165,388 |
||
| 184,919 | ||
| (19,452) | ||
| 165,467 | ||
| (37,000) | ||
| 384,574 | ||
| 384,574 |
For the year in question, the charitable company was entitled to exemption from an audit u the Companies Act 2006.
The members have not required the charitable company to obtain an audit of its accounts f question in accordance with section 476 of the Act.
The trustees/directors acknowledge their responsibilities for complying with the requireme Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared in accordance with the special provisions fo under part 15 of the Companies act 2006.
Approved by the trustees on 16th May 2022
Company Number 970913
and signed on their behalf by Mr. A. Stevens
THE PASS HOUSING ASSOCIATION LIMITED (LIMITED BY GUARANTEE) (UNAUDITED ACCOUNTS) NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31ST DECEMBER, 2021
1 ACCOUNTING POLICIES
The principal accounting policies adopted, judgements and key sources of estimation u preparation of the financial statements are as follows:
1.1 Basis of preparation
The financial statements have been prepared in accordance with Accounting and Repo Statement of Recommended Practice applicable to charities preparing their accounts i the Financial Reporting standard applicable in the UK and republic of Ireland (FRS 10 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applica Republic of Ireland (FRS 102) and the Companies Act 2006.
The Pass Housing Association Limited meets the definition of a public entity under FR Assets and liabilities are initially recognised at historical cost or transaction value unle stated in the relevant accounting policy notes.
The trustees consider that there are no material uncertainties about the Charity's abili going concern.
1.2 Incoming Resources
Rental income represents amounts receivable as rent from properties owned by the As Income is accounted for on the accruals basis. Income includes income tax recoverabl
1.3 Resources Expended
Expenditure is recognised on an accruals basis as soon as there is a legal or construct obligation committing the charity to the expenditure, it is probable that settlement wil amount of the obligation can be measured reliably. Expenditure includes any VAT whi recovered, and is reported as part of the expenditure to which it relates.
1.4 Tangible Fixed Assets
All tangible fixed assets for continuing use by the Association are intially recorded at c Depreciation of fixed assets is provided at the following annual rates in order to write the cost less any residual value of each asset over its estimated useful life:
Freehold Buildings over 50 years
1.5 Fund Accounting
The Association's funds comprise only general, unrestricted funds, expendable at the d the trustees in furtherance of the objects of the Association. Such funds may be held i finance both working capital and capital investment.
1.6 Financial Instruments
The charity only has financial assets and financial liabilities of a kind that qualify as ba instruments. Basic financial instruments are initially recognised at transaction value a
measured at their settlement value.
THE PASS HOUSING ASSOCIATION LIMITED (LIMITED BY GUARANTEE) (UNAUDITED ACCOUNTS)
NOTES TO THE ACCOUNTS - (CONTINUED) FOR THE YEAR ENDED 31ST DECEMBER, 2021
2 PROPERTY COSTS
| 3 4 |
2021 Agent's Rent Collection Charges 11,434 Insurance 2,921 Repairs and Maintenance 14,497 Electricity and Heating Oil 344 Loan Interest 2,376 Depreciation 7,946 39,518 OTHER COSTS 2021 Accountancy 775 Secretarial Fees and Expenses 1,750 Companies House Fees 13 Sundries 287 2,825 NET MOVEMENT IN FUNDS 2021 The net movement in funds for the year is stated after charging: Depreciation 7,946 Accountants' Fees Independent Examination 220 Other Services 555 8,721 |
2021 11,434 2,921 14,497 344 2,376 7,946 |
2021 |
|---|---|---|---|
| 39,518 | |||
| 2021 775 1,750 13 287 |
2021 | ||
| 2,825 | |||
| 2021 | |||
| 8,721 |
No trustee received remuneration or were reimbursed for expenses in the current or p The company secretary receives an annual fee for secretarial services and expenses.
- 5 TANGIBLE FIXED ASSETS
| Cost At 1st January 2021 Addition: At 31st December 2021 Depreciation At 1st January 2021 Charge for the year At 31st December 2021 Net Book Value At 31st December 2021 At 31st December 2020 |
397,294 0 Freehold Buildings |
|---|---|
| 397,294 | |
| 134,277 7,946 |
|
| 142,223 | |
| 255,071 | |
| 263,017 |
8
THE PASS HOUSING ASSOCIATION LIMITED
(LIMITED BY GUARANTEE)
(UNAUDITED ACCOUNTS)
NOTES TO THE ACCOUNTS - (CONTINUED) FOR THE YEAR ENDED 31ST DECEMBER, 2021
| 6 7 8 |
DEBTORS Debtors Prepayments and Accrued Income CREDITORS : AMOUNTS FALLING DUE WITHIN ONE YEAR Accrued Expenditure Loan CREDITORS : AMOUNTS FALLING DUE AFTER ONE YEAR Loans DEBT DUE AFTER MORE THAN ONE YEAR Repayable between one and fve years Repayable in fve or more years |
2021 18,698 833 |
2021 |
|---|---|---|---|
| 19,531 | |||
| 2021 12,452 7,000 |
2021 | ||
| 19,452 | |||
| 2021 | |||
| 37,000 | |||
| 28,000 9,000 |
|||
| 37,000 |
9 RELATED PARTY TRANSACTIONS
During the year ended 31st December 2013 a trustee, Mr Colin Kennedy, advanced a l the Association in order to provided funding for the redevelopment of a former farm bu additional affordable housing unit.
The loan is being repaid in instalments over a 14 year period finishing in 2027, and is The amount outstanding at the year end was £37,000 (2020:- £44,000). Interest is pay the rate of 5%.
Interest payable in the year amounted to £2,376 (2020:- £2,733).
The Trust is constituted as a charitable company limited by guarantee with no share c Control of the company is therefore vested in the trustees.
10 CONTROL
ired by
accounts comply with ment of
registered as a emorandum and wound up is limited
of Trustees. There ed by the Board.
n.
eeds of persons r having been born in or not less than five ity Commission's planning future
year. ts and
02 (2020:- surplus of ate of the
etion on the enance expenses
urposes of company dance with applicable
. Under that law the dom Generally
. e satisfied that they me or expenditure of
te to presume
h reasonable accuracy ial statements comply ts of the charity irregularities.
ecember 2021
responsible for the ar under section eded.
ligible for
mission
harity Commission, The procedures s or disclosures in The procedures uently no opinion is those matters set out
ments:
ting
standing of the
2020
(unrestricted)
81,712 80
81,792
37,192 1,913
39,105
42,687
307,685 350,372
2020
263,017
0
21,525 123,828 145,353
(13,998) 131,355
(44,000) 350,372 350,372
under section 477 of
for the year in
ents of the Companies
or small companies
uncertainty in the
orting by Charities: in accordance with 02) (effective 1 able in the UK and
S 102. ess otherwise
ity to continue as a
ssociation. le.
tive
ll be required and the ch cannot be fully
cost. off
discretion of in order to
asic financial and subsequently
2020
12,160 2,124 11,953 276 2,733 7,946 37,192
2020 775 1,000 13 125 1,913
2020 7,946 220 555 8,721
preceding year.
2020
20,692 833 21,525
2020 6,998 7,000 13,998
2020 44,000 28,000 16,000 44,000
loan of £100,000 to uilding into an
secured on a property. yable on the loan at
apital.