| Pages | |
|---|---|
| Legal andAdministrativelnformation | ,l |
| Report of theTrustees | 2-5 |
| Report of theAuditors | 6-9 |
| lncomeandExpenditureAccount | 10 |
| BalanceSheet | 't1 |
| Cash FlowStatement | 12 |
| Notes to theCashFlowStatement | 13 |
| Notes totheFinancial Statements | 't+20 |
S.KellY(Resigned3010412024 |
S.KellY(Resigned3010412024 |
|---|---|
| The trustees serving during theyear and since theyearendare asfollows: | |
| Directors andMembersof the Board | |
| Members: | A.E.Valentine |
| S.Trimby | |
| D.Martin | |
| No membersofthe Board have anycontractual ties with the Society | |
| Admin¡strativeManager | Mrs S. Harris |
| FinanceManager: | Ms S. M. Kelly |
| Registered Office | 2-6MarshallDrive |
| Hayes | |
| Middlesex | |
| UB4OSW | |
| Architectsand Quantity Surveyors | RJA Partnership |
| 1/3High Brooms Road | |
| Tunbridge Wells | |
| KentTN4 9DA | |
| Hazle McCormack Young LLP | |
| Leap House, Frog Lane | |
| Tunbridge Wells | |
| KentTN11YT | |
| Auditors | Moore Kingston SmithLLP |
| The Shipping Building | |
| The Old Vinyl Factory | |
| BlythRoad | |
| Hayes, London | |
| UB31HA | |
| Bankers | Barclays Bankplc |
| High Street | |
| Hounslow | |
| Middl€sex | |
| TW3lDL | |
| Metro Bank | |
| The Pavilions | |
| 50 High Street | |
| Uxbridge | |
| UBS,IJP |
| Notes | 2024 f, |
2023 I |
|
|---|---|---|---|
| Turnover | 3 | 381.928 | 407,003 |
| Operaiing cosls | gza.u4) | 761) | |
| Operating SurPlus{Deficit) | 4 | (38,886) | (1,758i |
| lnterest receivableand similar income | 7 | '1CI,194 | 4,596 |
| Surplusl{Deficit) onordinary activitiesbefore and after taxationanddeficitîorlheYear |
(28,692] | 2.838 | |
| Reseryes at1APril2023 | 14 | 2,4ö5,221 | 2,462,383 |
| Surplus/(Deficit)foriheYear | 't4 | (28,692) | 2,838 |
| ReEervesal31March 2424 | 14 |
| Notes | 2024 | 2A23 | |||
|---|---|---|---|---|---|
| ¿ | s, | r. | |||
| Fixed Assets Tangible assets |
I | /luó.o¿o | 2.169,31û | ||
| 2. r03,626 | 2.169.31û | ||||
| Current Assets Debtors lnvestments Cash at bank andinhand |
10 11 |
56.810 2A5.2A5 482.961 |
33,307 199.204 492.980 |
||
| 744.976 | 725.49i | ||||
| Greditors:Amountsfalllngdue withinoneyear |
12 | t714tþ) | (66.582) | ||
| Net curfent assets | b/J.c¿I | 658,909 | |||
| Total assets lesscurrent liabilities | 2,828,219 | ||||
| Cred¡tors:Amounlsfallingdue afleroneyear |
13 | (340,618) | (362.998) | ||
| Netassets | 2.436.529 | 2,465,221 | |||
| RepresentedbY | |||||
| Capital and Reserves Revenue reserves Designatedreserves Restricted reserves |
14 14 14 |
435.902 4ûonÂt7 10.000 |
421.294 2,A33.92'-7 10.00c |
||
| 529 | 2,465,221 |
| Notes | 2024 | 2023 | |
|---|---|---|---|
| € | € | ||
| Netcash(outflow/inflowfromoperating | |||
| activities | (a) | (13,937) | 39,847 |
| Returns on investmentsandservicingof | |||
| finance | (b) | 10,194 | 4,596 |
| Capitalexpenditure | (275) | ||
| lncrease/(Decrease)innetfunds | (c) | (4,018) | 44,443 |
| (a) | Reconciliation of deficit fortheyeartonetcash inflow from operating activities |
Reconciliation of deficit fortheyeartonetcash inflow from operating activities |
2024 € |
2023 I |
|---|---|---|---|---|
| Deficitfortheyear | (28,6e2) | 2,838 | ||
| Depreciation lnterest receivable |
65,959 (10,1e4) |
66,478 (4,5e6) |
||
| (lncrease)/Decreasein debtors Decreaseincreditors |
(23,503) (17,507) |
20 (24,8e3) |
||
| Netcashinflow(outflow)fromoperat¡ngact¡vities | (13,e37) | 39,847 | ||
| (b) | GrossCashflows | 2024 | 2023 | |
| Returnson investmentandservicingoffinance | Ê | I | ||
| lnterestreceived | 10,194 | 4,596 | ||
| (c) | Reconciliation ofnetcashflow to movements innet funds (note(d)) |
2024 Ê |
2023 c |
|
| lncrease/(Decrease)in netfundsin theyear Netfundsat1April2023 |
(4,018) 692,184 |
44,443 647 741 |
||
| Netfunds at31Ma¡ch 2024 | 688,166 | 692,184 | ||
| (d) | Analysis of changes innetfunds | Balance atI April2023 € |
Cashflows t |
Balance at31 March2O24t |
| Câsh atbank | 492,980 | (r0,01e) | 482,961 | |
| Currentasset investments | 199,204 | 6,001 | 205,205 | |
| 692,184 | (4,018) | 688,166 |
| 3 | assessed annually. Theyareamendedwhennecessary to reflect current advancement,future investments,economicutilisation andthephysical co the carrying amount oftheproperty, plantandequ¡pmentand note1.4for class of asset. Turnover |
estimates, based on tech ndition of theassets' Se theusefuleconomiclives |
estimates, based on tech ndition of theassets' Se theusefuleconomiclives |
nological enoteIfor foreach |
|---|---|---|---|---|
| 2024 | 2023 | |||
| t | € | |||
| lncomefrom lett¡ngs:(supportedshelteredaccommodation) | ||||
| -Gross rentsreceivable | 470,778 | 438,278 | ||
| - Less rent lossesfromvoidsandrebates | (111,490) | |||
| - Net rentalsreceivable | 359,288 | 382,615 | ||
| Otherincome: | ||||
| - Capitalgrantincome | 22,381 | 22,381 | ||
| -Miscellaneous income | 259 | 2.OO7 | ||
| 381,928 | 407,003 | |||
| Theturnover arosefromactivitieswhollyinthe United Kingdom' | ||||
| Units inmanagement | 2024 | 2023 | ||
| Supported housingandhous¡ngforolderpeople | 30 | 30 | ||
| 4 | Operating Surplus(Deficit) | |||
| Operatingdeficit for theyear is statedaftercharging/(crediting): | 2024 | 2023 | ||
| € | € | |||
| Thisisstatedaftercharging; | ||||
| Depreciation of owned tangiblefixed assets Auditorsremuneration-Audit |
65 I |
959 840 |
66,478 7,380 |
|
| Auditorsremuneration-Otherservices | 2 | 832 | 3,415 |
| The average monthly numberofpersons (excluding members oftheB | oard) employed duringtheper | iod was |
|---|---|---|
| 2024 | 2023 | |
| Officestaff | 2 | 2 |
| Housekeepers, caretakers and cleaners | b | b |
| I | I | |
| Theiraggregate remuneration for theabove persons comprised | 2024 | 2023 |
| Ê | € | |
| Wagesand salaries | 159,584 | 147,062 |
| Social security costs | 6,975 | 6,415 |
| Pension costs-defined contribution | 3,815 | 3,429 |
| 170,374 | 156,906 |
| lnterestreceivable andsimilarincome | ||
|---|---|---|
| 2024 | 2023 | |
| Ê | € | |
| lnterestreceivable on bank deposits | 10,194 | 4,596 |
| 9 | TangibleFixedAssets | ||||
|---|---|---|---|---|---|
| Freehold | |||||
| housing | Furniture, | ||||
| properties- | fixtures, | ||||
| heldfor | fittingsand | ||||
| lettings â |
equipmentI | Total t |
|||
| Cost | |||||
| AtIApril 2023 Additions |
3,516,269 | 149,041 275 |
3,665,310 275 |
||
| Al31March 2024 | 3,516,269 | 149,316 |
|||
| Depreciation At1April2023 Charge for theyear |
1,376,019 62,326 |
119,981 3.633 |
1,496,000 65 959 |
||
| At31 March 2024 | 1,438,346 | 123,614 | 1,56r,959 | ||
| NetBookValue | |||||
| Al31 March2024 | 2,077,923 | 25,702 | 2,103,626 | ||
| At31 March 2023 | 2,140,250 | 29,060 | 2,169,310 | ||
| 10 | Debtors | 2024 | 2023 | ||
| € | € | ||||
| Amounts fallingduewithinoneyear | |||||
| Residential debtors | 13,723 | 4,022 | |||
| Prepayments Otherdebtors |
25,133 17.954 |
15,815 13,470 |
|||
| 56,810 | 33,307 | ||||
| 11 | lnvestments | ||||
| 2024 | 2023 | ||||
| € | € | ||||
| Shortterm deposits | 205,205 | 199,204 |
| 12 | Creditors:Amountsfallingduewithinone year | ||
|---|---|---|---|
| 2024 | 2023 | ||
| Ê | € | ||
| Tradecreditors | 20,975 | 14,678 | |
| Residential creditors | 1,507 | 1,507 | |
| Taxation and social secur¡ty Pensioncreditor |
1,890 650 |
1,870 628 |
|
| Accrualsanddeferredincome | 24,052 | 25,517 | |
| Governmentgrants | 22,381 | 22,382 | |
| 71,455 | 66,582 | ||
| '13 | Creditors:Amounts falling dueafter morethanone year | 2024 | 2023 |
| Governmentgrants | € | € | |
| SocialHousing Grant Department of Environmentgrant |
'145,612 195,006 |
150,265 212,733 |
|
| -4õ.618- | --362-' | ||
| Movement ongovernment grants: | |||
| Openingbalance Amortisationto berecognisedasturnover |
385,380 (22,381) |
407,762 22,382 |
|
| Closing balance | 362,999 | 385,380 | |
| Thisbalancewillbe releasedasfollows: | |||
| Withinoneyear | 22,381 | 22,382 | |
| Afteroneyear | 340,618 | 362,998 | |
| 362,999 | 385,380 |
| Reserves | ||||
|---|---|---|---|---|
| Designated | ||||
| Reservefor | ||||
| lncomeand future |
||||
| ExpenditureMaintenance/ | FixedAsset | Restricted | ||
| AccountMajor Repairs €€ |
Reservet | Reserves e |
Total Ê |
|
| Al1April2022 | 374,358250,000 | 1,828,025 | 10,000 | 2,462,383 |
| Net income/(expenditure) | 46,936 | (44,0s8) | 2,838 | |
| Transfer | ||||
| At1April 2023 | 421,294 250,000 |
1,783,927 | 10,000 | 2,465,221 |
| Net income/(expenditure) | r4,608 | (43,300) | (28,692) | |
| Transfer | ||||
| At 31March 2024 | 435,902 250,000 |
1,740,627 | 10,000 | 2 |
| Financialinstruments | |||
|---|---|---|---|
| 2024 | 2023 | ||
| € | I | ||
| Garrying amountoffinancial assets Debtinstrument measuredatamortisedcost |
31,677 | 17,492 | |
| Carrying amountoffinancial liabilities Measured at amortisedcost |
:: | (47.184|(42,330) |
| 2024 | 2023 | |
|---|---|---|
| € | € | |
| lncome | ||
| lntereston investments | 10,194 | 4,596 |
| Capitalgrantincome Miscellaneousincome |
22,381 259 |
22,381 2,007 |
| Housekeepingincome | ||
| _32,8U | 28,984 | |
| Surplusongeneralaccount | 32,834 | 28,984 |
| Deficit onpropertyincomeaccount | (61,526) | (26,146) |
| Surplus/(Deficit) onincome andexpenditure account | (28,692) | 2,838 |
| Balance broughtfonrvard | 2,465,221 | 2,462,383 |
| Balance carriedforward | 2,436,529 | 2,465,221 |
| PROPERTYINCOMEACCOUNT FORTHEYEARENDED31MARCH 2024 |
||
|---|---|---|
| 2024 | 2023 | |
| € | Ê | |
| lncome | 470,778 | 438,278 |
| Less:Voids | (111,490) | (s5,663) |
| Netchargesreceivable | 359,288 | __382,615_ |
| Expenditure | ||
| Management (operatingcosts): Salaries and N.l. |
40,204 | 39,530 |
| Pensioncost | 727 | 706 |
| Staff Training | 180 | 360 |
| lnsurance | 8,953 | 10,210 |
| Stationery andpostage Membershipfee Auditors' remuneration-audit services |
1,026 7,960 9,840 |
937 10,160 7,380 |
| Auditors' remuneration-non-audit services | 2,832 | 3,415 |
| Bad debt expense | ||
| Miscellaneous | 1,817 | 1,159 |
| Legal andprofessionalfees | 3,063 | 2,075 |
| Advertising | 157 | 166 |
| 76,759 | 76,098 | |
| Repairs and maintenance(operating costs) Repairs to buildings Repairs to equipment and fixtures |
23,925 5,426 |
13,542 13.618 |
| 29,351 | 27,'160 | |
| Servicecosts(operatingcosts): | ||
| Employee costs Pension costs |
126,355 3,088 |
113,947 2,723 |
| Housekeeping(includingCatering) Cleaning Gardening Heating and lighting Telephone Health and safety |
30,862 2,973 5,418 55,343 9,353 9,958 |
35,395 3,272 4,769 49,306 7,930 3,518 |
| Depreciation Bank Charges |
65,959 811 |
66,478 1,936 |
| Waterrates, community charge andcouncil tax | 4,584 | 16,229 |
| 314,704 | 305,599 | |
| TotalExpenses | 420,814 | 408,761 |
| Deficit for theyearandbalance carriedto general income and expenditure account |
(61,526) | (26,146) |