OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2022-03-31-accounts

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

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
Mr A Nurbhai
Registered office 1 Sopwith Crescent
Wickford Business Park
Wickford
Essex SS118YU
Places of business Abbeyfield
House
200 Timberlog
Lane
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

2022 2021
Metric 1:Reinvestment 1% 1%
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 -157% -159%
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) E10,741 611,424
Metric 6a:Operating
Margin (social housing		 lettings) -3% 14%
Metric 6b: Operating
Margin (overall)		 -1% 16%
Metric 7:return on Capital Employed 0% 2%

2022 2021
Note F
Turnover 264,079 335,280
Social housing
activity		 expenditure 237,547 257,260)
Gross surplus 26,532 78,020
Administrative
expenditure		 (29,081) (25,793)
Operating
surplus		 (2,549) 52,227
Interest receivable
and		 similar income 2,104 5,651
Surplus
on ordinary
activities for the year (445) 57,878
Revaluation
offixed asset investments		 (14,378) 3,263
Total comprehensive income
for the year (14,823) 61,141

Year Ended 31 March Year Ended 31 March Year Ended 31 March 2022 2022
2022 2021
Note 6 6
Fixed assets
Tangible fixed assets - housing
properties		 8 841,811 842,789
Tangible fixed assets - other 9 2,960 3,482
Investments 10 404,364 18,742
1,249,135 865,013
Current assets
Debtors 460
Cash at bank and
in hand		 940,546 1,341,465
940,546 1,341,925
Creditors: amounts falling due
within one year 12 30,360) 26,874
Net current assets 910,186 1,315,051
Total assets less current
liabilities		 2,159,321 2,180,064
Creditors: amounts
after more than one		 falling
year		 due 13 ~353,637) ~7356,557
Total net assets 1,808,684 1,823,507
Reserves
Income and expenditure account 14 1,808,684 1,823,507
Total reserves 1,808,684 1,823,507
These financial statements have been prepared in accordance with the special provisions relating
to
companies
subject to the		 small companies regime within Part 15of the Companies Act 2006.
yh
5
tl tt		 t dd d d th t dl *67th 6
d		 ~fftl 1iy-
Signed on behalf of the board
MrMStanton-Dunne Mr R Thomson

Income and
expenditure
reserve Total
F E
At 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 and 1 April 2021 1,823,507 1,823,507
Surplus
for the year
Revaluation
offixed asset investments		 (445)
~74.378)		 (445)
~74,378)
Total comprehensive income ~)4,823) 14,823)
At 31 March 2022 1,808,684 1,808,684

Social housing turnover
and cost		 s
2022 2021
6 E
Rents receivable
excluding
service		 charges 58,874 108,556
Service charges receivable 199,285 220,804
Amortised
government
grants		 5,920 5,920
Social housing activity expenditure —Service costs 199,285 220,804
Social housing activity expenditure —Repairs and
maintenance 29,406 27,581
Social housing activity expenditure —Depreciation 8,856 8,875
Operating
surplus
from social housing		 activities 26,532 78,020
Social housing activity expenditure —Administrative
expenditure 29,081 25,793
Net (deficit)/surplus
from social housing		 activities (2,549) 52,227
Losses from vacancies 139,405 66,568
Accommodation owned and in management
Number Number
of
of units at units at
1 April 31 March
2021 2022
Completed
units:
Housing
for		 older people 24 24
There are no units under development
24 24

2022 2021
Donations
received		 1,025
Other miscellaneous income
Bank interest receivable 1,079 5,651
2,104 5,651
5 Surplus
on ordinary		 activities
Surplus
on ordinary		 activities is stated after charging/(crediting):
2022f 2021f
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 8,856 8,875

Housing
properties
for letting Total
E
Cost:
At 1 April 2021 1,065,680 1,065,680
Additions —improvements to properties 7,356 7,356
At 31 March 2022 1,073,036 1 073 036
Depreciation:
At 1 April 2021 222,891 222,891
Charge for year 8,334 8,334
At 31 March 2022 231,225 231,225
Net book value:
At 31 March 2022 841,811 841,811
At 31 March 2021 842,789 842,789
The net book value of land and buildings comprised:
2022
L		 2021f
Land and buildings:
Freehold 1,073,036 1,065,680
1,073,036 1,065,680

Tangible fixed assets —other
Fixtures,
fittings and
equipment
F		 Totalf
Cost:
At 1 April 2021 120,988 120,988
Additions
At 31 March 2022 120,988 120,988
Depreciation:
At 1 April 2021 117,506 117,506
Charge for year 522 522
At 31 March 2022 118,028 118,028
Net book value:
At 31 March 2022 2,960 2,960
At 31 March 2021 3,482 3,482
Fixed asset investments
Listed
investments Total
f F
Valuation:
At 1 April 2021 18,742 18,742
Additions
Revaluation		 400,000
~14,378		 400,000
~14,378
At 31 March 2022 404,364 404,364
Impairment:
At 1 April 2021
At 31 March 2022
Carrying
amount:
At 31 March 2022 404,364 404,364
At 31 March 2021 18,742 18,742

11 Debtors
2022f 2021f
Trade debtors (gross social housing rent arrears)
Payments
on account
Prepayments and accrued income 460
460
12 Creditors: amounts falling due within one year
2022f 2021f
Trade creditors 6,835 2,847
Other tax and social security 782 1,678
Government grants 5,920 5,920
Accruals and deferred income 16,823 16,429
30,360 26,874
13 Creditors: amounts falling due after more than one year
2022 2021
f.
Government grants 350,635 356,555
Other loans 2 2
350,637 356,557

2022 2021
6
Income
Residents'
charges and other		 rental income 397,564 395,928
Amortisation
of government
grants
Losses arising from vacantxes		 5,920
~56		 5,920
~66,566
Turnover
- net property		 income 264,079 335,280
Expenditure
Administrative
expenditure
Insurance 3,478 3,546
Telephone 2,240 2,054
Membership
fee - The		 Abbeyfield Society 6,772 6,705
Auditor's
remuneration		 3,840 3,840
Bookkeeping 2,000 2,808
Travelling
expenses		 250 73
Advertising 5,527 3,645
Training
and conferences		 1,573 813
Other expenditure 1,615 753
Legal and professional fees 575 35
Careline 1,211 1,521
Total administrative expenditure 29,081 25,793
Repairs and maintenance
Alarm costs and maintenancre 2,133
Day-to-day
repairs		 12,650 19,632
Cyclical repairs 14,623 7,949
29,406 27,581
Service costs
Care and catering:
Employee costs 142,472 157,023
Food costs and cleaning materials 24,013 30,205
Window cleaning 905 530
Garden
maintenance		 1,873 2,004
Council tax/rates 5,980 5,950
Water rates 3,859 4,233
Heating 10,975 6,038
Lighting 6,486 11,238
Waste disposal 570 954
Pest control 716 502
Uniforms
and PPE		 204 638
Sundry expenses 1,232 1,489
199,285 220,804
Depreciation
Housing
properties		 8,334 8,260
Fixtures, fittings and equipment 522 615
8,856 8,875
Total social housing activity expenditure 237,547 257,260
Operating
surplus		 (2,549) 52,227