## |||Pages| |---|---|---| |Legal and Administrative|Information|| |Report ofthe Trustees||2-5| |Report ofthe Auditors||| |Income and Expenditure|Account|10| |Balance Sheet||| |Cash Flow Statement||12| |Notes to the Cash Flow|Statement|| |Notes to the Financial Statements||14-20| ## ## ## ## ## ## |Secretary:|Secretary:||S.Harris|S.Harris|S.Harris|| |---|---|---|---|---|---|---| |The trustees||serving|during the year and since the year end are|||as follows:| |Directors and Members||||ofthe Board||| |Treasurer:|||||A.J.Sansom|| |Members:|||||V. Rigby|| ||||||A. E.Valentine|| ||||||S.Trimby|| ||||||D. Martin (Appointed 24 August 2021)|| |No members||ofthe Board||have any contractual|ties with the Society|| |Administrative||Nlanager:|||Mrs S.Harris|| |Finance Manager:|||||Ms S.M. Kelly|| |Registered|Office:||||2-6 Marshall
Drive|| ||||||Hayes|| ||||||Middlesex|| ||||||UB4 OSW|| |Architects|and Quantity|||Surveyors|RJA Partnership|| ||||||1/3 High Brooms|Road| ||||||Tunbridge
Wells|| ||||||Kent
TN4 9DA|| ||||||Hazle McCormack Young LLP|| ||||||Leap House, Frog Lane|| ||||||Tunbridge
Wells|| ||||||Kent
TN1 1YT|| |Auditors|||||Moore Kingston|Smith LLP| ||||||The Shipping
Building|| ||||||The Old Vinyl Factory|| ||||||Blyth Road|| ||||||Hayes, London|| ||||||UB3 1HA|| |Bankers|||||Barclays Bank pic|| ||||||High Street|| ||||||Hounslow|| ||||||Middlesex|| ||||||TW3 1DL|| ||||||Metro Bank|| ||||||The Pavilions|| ||||||50 High Street|| ||||||Uxbridge|| ||||||UB8 1JP|| ## ## ## ## ## ## ## ## ## ## ## ## |to residents. The Society's metrics f|or the year are as follows:| |---|---| |Reinvestment|1 8%| |New supply
delivered|None| |Gearing %is not applicable since there is no debt finance.|| |EBITDA MRI interest cover measure|is not applicable
since there is no interest payable.| |Headline
social housing cost per unit|F14,167| |Operating
margin|-28.9%| |Return
on capital employed|| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||Notes|2022|2021| |---|---|---|---|---| ||||6|| |Turnover|||329,694|316,204| |Operating
costs|||(425,020)|(404,714)| |Operating
Surplus/(Deficit)|||(95,326)|(88,510)| |Interest receivable
and similar|income||77|1,498| |(Deficit)/Surplus
on ordinary
and deficit forthe year|activities before and after taxation||~$$$$$|~i$$,$1$| |Reserves at 1 April 2021||14|2,557,632|2,644,644| |Surplus/(Deficit)
for the year||14|(95,249)|(87,012)| |Reserves at 31March 2022||14|2,462,383|2,557,632| ## ## |||Notes||2022||2021| |---|---|---|---|---|---|---| |||||6||6| |Fixed Assets||||||| |Tangible assets||||2,235,788||2,302,859| |||||2,235,788||2,302,859| |Current Assets||||||| |Debtors||10|33,327||32,035|| |Investments||11|198,500||327,305|| |Cash at bank and in hand|||449,241||364,638|| ||||681,068||723,978|| |Creditors: Amounts|falling due|||||| |within one year||12|(69,093)||(61,442|| |Net current assets||||611,975||662,536| |Total assets less current liabilities||||2,847,763||2,965,395| |Creditors: Amounts
after one year|falling due|13||(385,380)||(407,763)| |Net assets||||2,462,383||2,557,632| |Represented
by:||||||| |Capital and Reserves
Revenue reserves||14||374,358||424,917| |Designated
reserves
Restricted
reserves||14
14||2,078,025
10,000||2,122,715
10,000| |||||2,462,383||2,552,532| ## |||Notes|2022|2021| |---|---|---|---|---| |||||0| |Net cash (outflow)/inflow|from operating|||| |activities||(a)|(44,279)|(44,084)| |Returns on investments|and servicing of|||| |finance||(b)|77|1,498| |Capital expenditure||||| |Decrease in net funds||(c)|(44,262)|(42,666)| ## ## |(a)|Reconciliation
ofdeficit
activities|Reconciliation
ofdeficit
activities|for the year to net cash inflow from operating|for the year to net cash inflow from operating|for the year to net cash inflow from operating|2022
6|2021
6| |---|---|---|---|---|---|---|---| ||Deficit for the year|||||(95,249)|(87,012)| ||Depreciation|||||67,071|67,749| ||Interest receivable|||||(77)|(1,498)| ||(Increase)/Decrease
in|debtors||||(1,292)|18,052| ||Decrease
in creditors|||||(14,732)|(41,355)| ||Net cash outflow from operating|||activities||~44,278)|)44,00 )| |(b)|Gross Cash flows|||||2022|2021| ||Returns on investment||and servicing offinance|||6|6| ||Interest received|||||77|1,498| |(c)|Reconciliation
ofnet
funds (note (d))|cash flow to movements|||in net|2022|2021
6| ||Decrease
in net funds|in|the year|||(44,202)|(42,566)| ||Net funds at 1 April 2021|||||691.943|734,509| ||Net funds at 31 March|2022||||647,741|691,943| |(d)|Analysis ofchanges
in||net funds||Balance at 1|Cash flows|Balance at 31| ||||||April 2021||March 2022| ||||||6|6|6| ||Cash at bank
Current asset investments||||364,638
327,305|84,603
~128,805|449,241
198,500| ||||||691,943|(44,202)|647,741| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |Turnover||||||||| |---|---|---|---|---|---|---|---|---| ||||||||2022|2021| ||||||||6|| |Income from lettings:|(supported||sheltered||accommodation)|||| |-Gross rents receivable|||||||417,769|404,190| |-Less rent losses from|voids and||rebates||||(112,022)|(110,641)| |Net rentals receivable|||||||305,747|293,549| |Other income:||||||||| |-Capital grant income
- Miscellaneous
income|||||||22,382
1,565|22,381
274| ||||||||329,694|316,204| |The turnover arose from activities|||wholly|in|the United|Kingdom.||| |Units in management|||||||2022|2021| |Supported
housing
and|housing|for older||people|||30|30| |Operating
Deficit||||||||| |Operating
deficit forthe year is stated after|||||charging/(crediting):||2022|2021| ||||||||6|6| |This is stated after charging;||||||||| |Depreciation
ofowned|tangible fixed assets||||||67,071|67,749| |Auditors
remuneration|- Audit||||||7,380|6,900| |Auditors
remuneration|-Other services||||||4,271|3,480| ## ## ## |Employees||||| |---|---|---|---|---| |The average
monthly
number of persons (excluding|members|ofthe Board) employed|during the pediod was:
2022
2021|| |Office staff||||| |Housekeepers,
caretakers
and cleaners||||| |Their aggregate
remuneration
for the above persons|comprised:||2022
6|2021
5| |Wages and salaries
Social security costs|||141,990
6,185|156,103
7,838| |Pension costs - defined contribution|||3,183|4,585| ||||151,358|68,526| ## |Interest|receivable|and similar income||| |---|---|---|---|---| ||||2022|2021| |||||8| |Interest|receivable|on bank deposits|77|1,498| ## ## |9|Tangible Fixed Assets|Freehold|Furniture,|| |---|---|---|---|---| |||housing|fixtures,|| |||properties-|fittings and|Total| |||6||6| ||Cost|||| ||At 1 April 2021|3,516,269|149,041|3,665,310| ||Additions|||| ||At 31 March 2022|3,516,269|149,041|3,665,310| ||Depreciation|||| ||At 1 April 2021|1,251,367|111,084|1,362,451| ||Charge forthe year|62,326|4,745|67,071| ||At 31 March 2022|1,313,693|115,829|1,429,522| ||Net Book Value|||| ||At 31 March 2022|2,202,576|33,212|2,235,788| ||At 31 March 2021|2,264,902|37,957|2,302,859| |10|Debtors|||| ||||2022|2021| ||||6|| ||Amounts
falling due within one year:|||| ||Residential
debtors||7,426|7,605| ||Prepayments
Other debtors||16,389
9,512|15,066
9,364| ||||33,327|32,035| |11|Investments|||| ||||2022|2021| ||Shorttermdeposits||198,500|327,305| ## ## ## ## ## |Creditors: Amounts|falling due within one year||| |---|---|---|---| |||2022|2021| ||||8| |Trade creditors||20,566|12,124| |Residential
creditors||1,188|2,078| |Taxation and social security||1,685|1,619| |Pension creditor||1,123|1,091| |Accruals and deferred|income|22,149|22,149| |Government
grants||22,382|22,381| |||69,693|61.442| |13|Creditors: Amounts
falling|due after more than one year|2022|2021| |---|---|---|---|---| ||Government
grants
Social Housing
Grant
Department
of Environment|grant|154,919
230,461
385,380|159,572
248,191
407,763| ||Movement
on government|grants:||| ||Opening
balance
Amortisation
to be recognised as turnover||430,144
(22,382)|452,525
(22,381)| ||Closing balance||407,762|430,144| ||This balance will be released as follows:|||| ||Within one year
After one year||22,382
385,380|22,381
407,763| ||||407,762|430,144| ## ## |Resewes|||||| |---|---|---|---|---|---| |||Designated|||| |||Reserve for|||| ||Income and|future|||| ||Expenditure|Maintenance/|Fixed Asset|Restricted|| ||Account
6|Major Repairs
6|Reserve
6|Resewes|Total
8| |At 1 April 2020|466,561|250,000|1,918,083|10,000|2,644,644| |Net income/(expenditure)|(41,644)||(45,368)||(87,012)| |Transfer|||||| |At 1 April 2021|424,917|250,000|1,872,715|10,000|2,557,632| |Net income/(expenditure)|(50,559)||(44,690)||(95,249)| |Transfer|||||| |At 31 March 2022|374,358|250,000|1,828,025|10,000|2,462.383| ## |Financial|instruments||||| |---|---|---|---|---|---| |||||2022|2021| |Carrying
amount offinancial
Debt instrument
measured
at||assets
amortised|cost|16,938|16,969| |||||16,938|16,969| |Carrying
Measured|amount offinancial
at amortised cost|liabilities||45,026|37,442| |||||45,026|37,442|