## ## |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 R Thomson| ||||||Mrs P Griffiths| ||||||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| ## ## ## ## ## ## ## ## ## ## ## |Value for money|Value for money||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---| |The Society is affiliated to The Abbeyfield
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all of its activities. The Value for Money Metrics|||are:||||||||| |||||||||2023||2022|| ||Metric 1:Reinvestment|||||||0%||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|||||||-56%||-112%|| ||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)|||||614,016||610,741||| ||Metric 6a: Operating
Margin (social housing|lettings)||||||-35%||-3%|| ||Metric 6b: Operating
Margin (overall)|||||||-32%||-1%|| ||Metric 7:return on Capital Employed|||||||-4%||0%|| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |Year Ended 31 March 2023|Year Ended 31 March 2023|||| |---|---|---|---|---| ||||2023|2022| |||Note||f| |Turnover|||262,452|264,079| |Social housing
activity|expenditure||~378,773|237,547| |Gross surplus|||(55,721)|26,532| |Administrative
expenditure|||~27,214|(29,081)| |Operating
surplus|||(82,735)|(2,549)| |Interest receivable
and|similar income||10,288|2,104| |Interest payable
and similar expenses|||~772.228|| |Surplus on ordinary||||| |activities for the year|||(84,675)|(445)| |Revaluation
offixed asset investments|||2,285|14,378)| |Total comprehensive|income|||| |for the year|||(82,390)|(14,823)| ## ## |Year Ended 31|March 2023|March 2023||||| |---|---|---|---|---|---|---| ||||||2023|2022| |||||Note|f|| |Fixed assets||||||| |Tangible fixed assets||- housing|properties|8|836,520|841,811| |Tangible fixed assets||- other||9|2,516|2,960| |Investments||||10|800,385|404,364| ||||||1,639,421|1,249,135| |Current assets||||||| |Debtors||||||| |Cash at bank and|in|hand|||470,707|940,546| ||||||470,707|940,546| |Creditors: amounts||falling due||||| |within one year||||12|(39,117|(30,360)| |Net current assets|||||431,590|910,186| |Total assets less|current
liabilities||||2,071,011|2,159,321| |Creditors: amounts||falling due||||| |after more than one||year||13|(344,717)|(350,637)| |Total net assets|||||1,726,294|1,808,684| |Reserves||||||| |Income and expenditure
account||||14|1,726,294|1,808,684| |Total reserves|||||1,726,294|1,808,684| ## ## ## |||Income and|| |---|---|---|---| |||expenditure|| |||reserve
f|Totalf| |At 1 April 2021||1,823,507|1,823,507| |Surplus for the year
Revaluation
offixed asset investments||(445)
~(14,378|(445)
~14,3787| |Total comprehensive|income|(14,823)|(14,823)| |At 31 March 2022 and|1 April 2022|1,808,684|1,808,684| |Surplus
for the year||(84,675)|(84,675)| |Revaluation
offixed asset investments||2,285|2,285| |Total comprehensive|income|(82,390)|(82,390)| |At 31 March 2023||1,726,294|1,726,294| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||||||||| |---|---|---|---|---|---|---|---|---| |2|Social housing|turnover
and costs||||||| |||||||2023||2022| |||||||E||6| ||Rents receivable
excluding
service||charges|||38,189||58,874| ||Service charges receivable|||||224,263||199,285| ||Amortised
government
grants|||||5,920||5,920| ||Social housing|activity expenditure|—Service||costs|224,263||199,285| ||Social housing|activity expenditure|—Repairs||and|||| ||maintenance|||||85,101||29,406| ||Social housing|activity expenditure|—Depreciation|||8,809||8,856| ||Operating
(deficit)/surplus
from social housing||||activities|(55,721)||26,532| ||Social housing|activity expenditure|—Administrative|||||| ||expenditure|||||27,014||29,081| ||Net (deficit)/surplus
from social housing|||activities||(82,735)||(2,549)| ||Losses from vacancies|||||147,196||139,405| |3|Accommodation|owned and in management||||||| |||||||Number||Number of| |||||||of units|at|units at| |||||||1 April||31 March| |||||||2022||2023| ||Completed
units:|||||||| ||Housing
for|older people|||||24|24| ||There are no units under development|||||||| ||||||||24|24| ## ## ## ## |4|Interest|and other finance income and charges|and other finance income and charges|and other finance income and charges|and other finance income and charges|and other finance income and charges|and other finance income and charges||| |---|---|---|---|---|---|---|---|---|---| ||a)
Interest||receivable||and similar||income||| |||||||||2023|2022| |||||||||f|F| ||Donations||received|||||3,440|1,025| ||Other miscellaneous||||income||||| ||Interest|receivable||and returns||from investments||6,848|1,079| |||||||||10,288|2,104| ||b)
Interest||payable|and similar||expenses|||| |||||||||2023|2022| |||||||||5|5| ||Investment||charges|and commissions||||10,892|| ||Other miscellaneous||||charges|||1,336|| |||||||||12,228|| |5|Surplus|on|ordinary||activities||||| ||Surplus
on||ordinary|activities
is||stated after charging/(crediting):|||| |||||||||2023|2022| |||||||||f.|| ||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||||2,000|2,000| ||Depreciation
oftangible
fixed assets|||||||8,809|8,856| ## ## ## ## ## ||||Housing|| |---|---|---|---|---| ||||properties|| ||||for letting|Total| ||||8|8| |Cost:||||| |At 1 April 2022|||1,073,036|1,073,036| |Additions —improvements|to properties||3,074|3,074| |At 31 March 2023|||1,076,110|1,076,110| |Depreciation:||||| |At 1 April 2022
Charge for year|||231,225
8,365|231,225
8,365| |At 31 March 2023|||239,590|239,590| |Net book value:||||| |At 31 March 2023|||836,520|836,520| |At 31 March 2022|||841,811|841,811| |The net book value ofland|and buildings|comprised:||| ||||2023|2022| ||||f|8| |Land and buildings:||||| |Freehold|||1,076,110|1,073,036| ||||1,076,110|1,073,036| ## ## ## |Tangible fixed assets —other||| |---|---|---| ||Fixtures,|| ||fittings and|| ||equipment|Total| ||8|8| |Cost:||| |At 1 April 2022|120,988|120,988| |Additions||| |At 31 March 2023|120,988|120,988| |Depreciation:||| |At 1 April 2022|118,028|118,028| |Charge for year|444|444| |At 31 March 2023|118,472|118,472| |Net book value:||| |At 31 March 2023|2,516|2,516| |At 31 March 2022|2,960|2,960| |Fixed asset investments||| ||Listed|| ||investments|Total| ||6|| |Valuation:||| |At 1 April 2022|404,364|404,364| |Additions|411,846|411,846| |Disposals|(18,110)|(18,110)| |Revaluation|2,285|2,285| |At 31 March 2023|800,385|800,385| |Impairment:||| |At 1 April 2022||| |At 31 March 2023||| |Carrying
amount:||| |At 31 March 2023|800,385|800,385| |At 31 March 2022|404,364|404,364| ## ## |||||||||2023|2022| |---|---|---|---|---|---|---|---|---|---| |||||||||E|6| ||Trade debtors||(gross||social|housing|rent arrears)||| ||Payments
on||account||||||| ||Prepayments||and accrued|||income|||| |12|Creditors: amounts|||falling||due within one year|||| |||||||||2023|2022| |||||||||6|6| ||Trade creditors|||||||12,215|6,835| ||Other tax and||social security|||||1,926|782| ||Government|grants||||||5,920|5,920| ||Accruals and|deferred|||income|||19,056|16,823| |||||||||39,117|30,360| |13|Creditors: amounts|||falling||due after|more than one year||| |||||||||2023|2022f| ||Government|grants||||||344,715|350,635| ||Other loans|||||||2|2| |||||||||344,717|350,637| ## ## ## ## ## ## |||||||2023f|2022f| |---|---|---|---|---|---|---|---| |Income|||||||| |Residents'
rental and|other income|||||403,728|397,564| |Amortisation
ofgovernment|||grants|||5,920|5,920| |Losses arising
from vacancies||||||+147,196)|~139,495| |Turnover - net property||income||||262,452|264,079| |Expenditure|||||||| |Administrative
expenditure|||||||| |Insurance|||||||3,478| |Telephone||||||2,737|2,240| |Membership
fee - The|Abbeyfield||||Society|6,772|6,772| |Auditor's
remuneration||||||3,840|3,840| |Bookkeeping||||||2,000|2,000| |Travelling
expenses||||||262|250| |Advertising||||||6,145|5,527| |Training
and conferences||||||1,373|1,573| |Other expenditure||||||1,997|1,615| |Legal and professional|fees|||||690|575| |Careline||||||1,198|1,211| |Total administrative|expenditure|||||27,014|29,081| |Repairs and maintenance|||||||| |Alarm costs and maintenancre||||||1,986|2,133| |Day-to-day
repairs||||||18,904|12,650| |Cyclical repairs||||||64,211|14,623| |||||||85,101|29,406| |Service costs|||||||| |Care and catering:|||||||| |Employee costs||||||154,996|142,472| |Food costs and cleaning||||materials||22,627|24,013| |Window cleaning||||||955|905| |Garden
maintenance||||||2,448|1,873| |Council tax/rates||||||6,203|5,980| |Water rates||||||3,971|3,859| |Heating||||||18,899|10,975| |Lighting||||||10,487|6,486| |Waste disposal||||||630|570| |Pest control||||||690|716| |Uniforms
and PPE||||||212|204| |Sundry expenses||||||2,145|1,232| |||||||224,263|199,285| |Depreciation|||||||| |Housing
properties||||||8,365|8,334| |Fixtures, fittings and equipment||||||444|522| |||||||8,809|8,856| |Total social housing|activity|||expenditure||318,173|237,547| |Operating
surplus||||||(82,735)|(2,549)|