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||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|
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|
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|
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||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|||
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||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|
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||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|
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|(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|
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|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|
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|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|
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|lnterestreceivable andsimilarincome|||
|---|---|---|
||2024|2023|
||Ê|€|
|lnterestreceivable on bank deposits|10,194|4,596|
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|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|
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|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|
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|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|
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|Financialinstruments||||
|---|---|---|---|
|||2024|2023|
|||€|I|
|Garrying amountoffinancial assets
Debtinstrument measuredatamortisedcost||31,677|17,492|
|Carrying amountoffinancial liabilities
Measured at amortisedcost|::|(47.184\|(42,330)|
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||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|
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|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)|