## 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 1. 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.