2021-03-31-accounts - The Abbeyfield Basildon Society Limited

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Value for money
The Society is affiliated to The Abbeyfield Society and f ylt t bdt~bb money throughout all of its activities. The Value for Money	operates fld. Metrics	within .yhb are:	its guidelines tyt	and principles. tdll I			The f
			2021			2020
Metric 1:Reinvestment			1%			9%
Metric 2a: New Supply (Social Housing Units)
During the year the Society did not develop nor acquire
any social housing units (leasehold or other).			0%			0%
Metric 2b: New Supply (Non-social Housing Units)
During the year the Society did not develop nor acquire
any non-social housing units (leasehold or other).			0%			0%
Metric 3:Gearing			-159%		-154%
Metric 4: Earnings Before Interest, Tax, Depreciation,
Amortisation, Major Repairs Included (EBITDA MRI)
Interest Cover
During the year the Society did not capitalise nor pay any
interest or other financing costs.			N/A			N/A
Metric 5:Headline Social Housing Cost (per unit)			511,424		F14,950
Metric 6a: Operating Margin (social housing lettings)			14%			3%
Metric 6b: Operating Margin (overall)			16%			5%
Metric 7:return on Capital Employed			2%			1%

Year Ended 31	INarch 2021	INarch 2021
					2021	2020
				Note	6	F
Fixed assets
Tangible fixed assets		- housing	properties	8	842,789	840,167
Tangible fixed assets		- other		9	3,482	4,097
Investments				10	18,742	15,479
					865,013	859,743
Current assets
Debtors					460	2,094
Cash at bank and	in	hand			1,341,465	1,290,716
					1,341,925	1,292,810
Creditors: amounts		falling due
within one year				12	26,874)	(27,710)
Net current assets					1,315,051	1,265,100
Total assets less	current liabilities				2,180,064	2,124,843
Creditors: amounts		falling due
after more than one		year		13	(356,557)	362,477)
Total net assets					1,823,507	1,762,366
Reserves
Income and expenditure account				14	1,823,507	1,762,366
Total reserves					1,823,507	1,762,366

		Income and
		expenditure
		reserve t.'	Total
At 1 April 2019		1,738,952	1,738,952
Surplus for the year Revaluation offixed asset investments		27,459 ~4,045)	27,459 (4,045)
Total comprehensive	income	23,414	23,414
At 31 March 2020 and	1 April 2020	1,762,366	1,762,366
Surplus for the year		57,878	57,878
Revaluation offixed asset investments		3,263	3,263
Total comprehensive	income	61,141	61,141
At 31 March 2021		1,823,507	1,823,507

2	Social housing	turno	ver and	co	sts
							2020		2019
							6		E
	Rents receivable	excluding service charges					108,556		138,445
	Service charges	receivable					220,804		241,599
	Amortised government		grants				5,920		5,920
	Social housing activity		expenditure		—Service costs		220,804		241,599
	Social housing activity		expenditure		—Repairs and
	maintenance						27,581		88,510
	Social housing activity		expenditure		—Depreciation		8,875		8,874
	Operating surplus	from	social housing			activities	78,020		46,981
	Social housing activity		expenditure		—Administrative
	expenditure						25,793		28,689
	Net surplus from	social	housing	activities			52,227		18,292
	Losses from vacancies						66,568		14,948
3	Accommodation	owned and		in management
							Number		Number of
							of units	at	units at
							1 April		31 March
							2020		2021
	Completed units:
	Housing for older people							24	24
	There are no units under development
								24	24

4	Interest	and other finance	income and charges	income and charges	income and charges
	a) Interest receivable and similar income
						2021	2020
						f:
	Donations received						20
	Other miscellaneous income
	Bank interest receivable					5,561	9,147
						5,651	9,167
5	Surplus	on ordinary activities
	Surplus	on ordinary activities	is stated after		charging/(crediting):
						2021 8	2020f
	Auditor's	remuneration (including		expenses	and
	benefits	in kind) for audit				3,840	3,840
	Auditor's	remuneration (including		expenses	and
	benefits	in kind) for non-audit
	Depreciation oftangible fixed		assets			8,875	8,874

					2021f	2020f
Trade debtors (gross		social	housing	rent arrears)
Payments	on account
Prepayments and accrued			income		460	2,094
					460	2,094
Creditors:	amounts	falling	due within one year
					2021f	2020
Trade creditors					2,847	502
Other tax and social security					1,678	3,433
Government	grants				5,920	5,920
Accruals and deferred		income			16,429	17,855
					26,874	27,710
Creditors:	amounts	falling	due after more than one year
					2021f	2020 f
Government	grants				356,555	362,475
Other loans					2	2
					356,557	362,477

						2021f	2020 f
Income
Residents' charges and other				rental income		395,928	394,992
Amortisation of government			grants			5,920	5,920
Losses arising from vacancies						~66,568)	(14,948)
Turnover - net property		income				335,280	385,964
Expenditure
Administrative expenditure
Insurance						3,546	3,916
Telephone						2,054	2,298
Membership fee - The	Abbeyfield				Society	6,705	6,606
Auditor's remuneration						3,840	3,840
Travelling expenses						73	547
Advertising						3,645	3,673
Training and conferences						813	1,613
Other expenditure						753	807
Legal and professional	fees					2,843	3,658
Careline						1,521	1,731
Total administrative	expenditure					25,793	28,689
Repairs and maintenance
Day-to-day repairs						19,632	20,673
Cyclical repairs						7,949	67,837
						27,581	88,510
Service costs
Care and catering:
Employee costs						157,023	170,176
Food costs and cleaning				materials		30,205	34,494
Window cleaning						530	636
Garden maintenance						2,004	3,591
Council tax/rates						5,950	6,493
Water rates						4,233	3,062
Heating						6,038	7,335
Lighting						11,238	12,430
Sundry expenses						3,583	3,382
						220,804	241,599
Depreciation
Housing properties						8,260	8,151
Fixtures, fittings and equipment						615	723
						8,875	8,874
Total social housing	activity			expenditure		257,260	338,983
Operating surplus						52,227	18,292