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|Contents|||||||
|---|---|---|---|---|---|---|
|||||||Page|
|Registered|Social Housing|||Provider|Information||
|Board Report||||||4-7|
|Independent||Auditor's|Report|||8-10|
|Statement|of|Comprehensive||Income|||
|Balance Sheet||||||12|
|Statement|of|Changes|in Reserves|||13|
|Notes to the||Financial|Statements|||14 —22|
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|Company|registration|registration|number|number|1005700|
|---|---|---|---|---|---|
|Charity registration||number|||262505|
|Homes and Communities||||Agency registration|H0552|
|number||||||
|Members|ofthe board||||Mr M Stanton-Dunne|
||||||Mr RThomson|
||||||Mrs P Griffiths|
||||||Mrs R Blake|
||||||Mrs P Edwards|
||||||Mr A Nurbhai|
|Registered|office||||1 Sopwith Crescent|
||||||Wickford Business Park|
||||||Wickford|
||||||Essex SS118YU|
|Places of|business||||Abbeyfield
House|
||||||200 Timberlog
I ane|
||||||Basildon|
||||||Essex SS141PG|
||||||The Octagon|
||||||41 Bridge Street|
||||||Basildon|
||||||Essex SS154AY|
|Auditor|||||Sygma|
||||||Chartered
Accountants|
||||||Wickford Business Park|
||||||1 Sopwith Crescent|
||||||Wickford|
||||||Essex SS118YU|
|Bankers|||||Lloyds Bank pic|
||||||89 High Street|
||||||Billericay|
||||||Essex CM12 9AT|
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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%||
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|Year Ended|31 March 2021|31 March 2021||||
|---|---|---|---|---|---|
|||||2021|2020|
||||Note|6|E|
|Turnover||||335,280|385,964|
|Social housing|activity|expenditure||(257,260)|338,983|
|Gross surplus||||78,020|46,981|
|Administrative|expenditure|||(25,793)|28,689|
|Operating
surplus||||52,227|18,292|
|Interest receivable
and||similar income||5,651|9,167|
|Surplus on ordinary||||||
|activities for the year||||57,878|27,459|
|Revaluation
of|fixed asset investments|||3,263|(4,045|
|Total comprehensive||income||||
|for the year||||61,141|23,414|
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|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|
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|||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|
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|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|
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|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|
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|Tangible fixed assets —c|ompleted
ho|using
properties|||
|---|---|---|---|---|
||||Housing||
||||properties||
||||for letting|Total|
||||E|E|
|Cost:|||||
|At 1 April 2020|||1,054,798|1,054,798|
|Additions —improvements|to properties||10,882|10,882|
|At 31 March 2021|||1,065,680|1,065,680|
|Depreciation:|||||
|At 1 April 2020|||214,631|214,631|
|Charge for year|||8,260|8,260|
|At 31 March 2021|||222,891|222,891|
|Net book value:|||||
|At 31 March 2021|||842,789|842,789|
|At 31 March 2020|||840,167|840,167|
|The net book value of land|and buildings|comprised:|||
||||2021|2020|
||||E|L|
|Land and buildings:|||||
|Freehold|||1,065,680|1,054,798|
||||1,065,680|1,054,798|
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|9|Tangible fixed assets —other|||
|---|---|---|---|
|||Fixtures,||
|||fittings and||
|||equipment
f|Totalf|
||Cost:|||
||At 1 April 2020|120,988|120,988|
||Additions|||
||At 31 March 2021|120,988|120,988|
||Depreciation:|||
||At 1 April 2020|116,891|116,891|
||Charge for year|615|615|
||At 31 March 2021|117,506|117,506|
||Net book value:|||
||At 31 March 2021|3,482|3,482|
||At 31 March 2020|4,097|4,097|
|10|Fixed asset investments|||
|||Listed||
|||investments|Total|
|||F||
||Valuation:|||
||At 1 April 2020|15,479|15,479|
||Revaluation|3,263|3,263|
||At 31 March 2021|18,742|18,742|
||Impairment:|||
||At 1 April 2020|||
||At 31 March 2021|||
||Carrying
amount:|||
||At 31 March 2021|18,742|18,742|
||At 31 March 2020|15,479|15,479|
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||||||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|
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|||||||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|