2021-03-31-accounts

		Pages
Trustees'	Annual Report
Auditor's	Report
Statement of Financial Activities
Balance	Sheet
Statement ofCash flows		10
Notes to	the Accounts
Detailed	Statement of Financial Activities	19to 20

for the year ended 31March	2021
		Unrestdcted	Restricted
		funds	funds	Total funds	Total funds
		2021	2021	2021	2020
	Notes	E	6	E
Income and endowments
fram:
Donations and legacies		470		470	185
Other trading activities		243,362		243,362	256,423
Investments		151		151	923
Other		799		799	1,006
Total		244,782		244,782	258,537
Expenditure on:
Raising funds		18,300		18,300	4,950
Other		263,329		263,329	466,687
Total		281,629		281,629	471,637
Net gains/(losses) on investments		43,740		43,740	(26,895)
Net Income/(expenditure)		6,893		6,893	(239,995)
Transfers between funds		450,680	62,248	512,928
Net Income/(expenditure) before other gains/(losses)		457,573	62,248	519,821	(239,995)
Other gains and losses:
Net movement in funds		457573	62,248	519,821	(239,995)
Reconciliation offunds:
Total funds brought forward		126,471	9,035,012	9,161,483	9,401,478
Total funds carried forward		584,044	9,097,260	9,681,304	9,161,483

The Metropolitan Be BALANCE SHEET at 31March 2021	The Metropolitan Be BALANCE SHEET at 31March 2021	nefi	t Societies Almshouses
Charfty No. 293247					2021	2020
					f	E
Fixed assets
Tangible assets				11	9,273,092	8,798,073
Investments				12	203,515	159,775
					9,476,607	8,957,848
Current assets
Debtors				13	28,392	15,562
Cash at bank and		in hand			234,270	310,125
					262,662	325,687
Creditors: Amount	falling due within one year			14	(57,965)	(122,052)
Net current assets					204,697	203,635
Total assets less current			liabilities		9,681,304	9,161,483
Net assets excluding		pension asset or liabigty			9,681,304	9,161,483
Total net assets					9,681,304	9,161,483
The funds ofthe charity
Restricted funds				15
Restricted income		funds			9,097,260	9,035,012
					9,097,260	9,035,012
Unrestricted funds				15
General funds					584,044	126,471
					584,044	126,471
Reserves				15
Total funds					9,681,304	9,161,483

			2021	2020
			E	E
Cash fhws from operating	activities
Net income/(expenditure)	per Statement	of Financial Activities	519,821	(239,995)
Adjustments for:
Depreciation ot property, plant and equipment			74,980	71,001
Dividends, interest and	rents from investments		(950)	(1,929)
Other gains/losses			(556,668)	26,898
(Increase)/Decrease in	trade and other	receivables	(12,830)	4,767
(Decrease)/Increase in	trade and other	paya bles	(57,198)	85,912
Net cash used in operating	activities		(32,845)	(53,346)
Cash flows from investing	activities
Purchases of property,	plant and equipment		(37,072)	(6,361)
Dividends, interest and	rents from investments		950	1,929
Net cash used in investing	activities		(36,122]	(4,432)
Cash flows from f(nancing	activities
Repayment ofborrowings			(6,889)	(10,803)
Net cash used in financing	activities		(6,889)	(10,803)
Net decrease in cash and cash equivalents			(75,856)	(68,581)
Cash and cash equivalents	atthe beginning ofthe year		310,125	378,709
Cash and cash equivalents	at the end ofthe year		234,270	310,125
Components ofcash and cash equivalents
Cash and bank balances			234,270	310,125
			234,270	310,125

Fund accou	nting
Unrestricted	funds	These are available for use atthe discretion ofthe trustees in furtherance				ofthe
		general objects ofthe charity.
Designated	funds	These are unrestricted funds earmarked by the trustees	for particular purposes.
Revaluation	funds	These are unrestricted funds which include a revaluation		reserve representing			the
		restatement ofinvestment assets at their market values.
Restricted funds		These are available for use subject to restrictions imposed		by the donor	or	through
		terms ofan appeal.
Income
Recognition	of	Income is included in the Statement ofFinandal Activities		(SoFA) when	the	charity
income		becomes entitled to, and virtually certain to receive, the	income and the amount of
		the income can be measured with sufficient reliability.
Income with	related	Where income has related expenditure the income and	related expenditure				is
expenditure		reported gross in the SoFA.
Donations and		Voluntary income received by way of grants, donations and gifts is included				in the
legacies		the SoFA when receivable and only when the Charity has		unconditional
		entitlement to the income.
Tax reclaims	on	Income from tax reclaims is included in the SoFA at the same time as the
donations and gifts		gift/donation to which it relates.
Donated services		These are only included in income (with an equivalent amount in expenditure)
and facilities		where the benefit to the Charity is reasonably quantifiable,		measurable	and
		material.
Volunteer help		The value of any volunteer help received is not included	In the accounts.
Investment	income	This is included in the accounts when receivable.
Gains/(losses) on		This includes any gain or loss resulting from revaluing investments to market					value
revaluation	offixed	at the end ofthe year.
assets
Gains/(losses) on		This includes any gain or loss on thc sale ofinvestments.
investment assets

Expenditure	Expenditure
Itecognltion		of	Expenditure is recognised on an accruals	basis. Expenditure includes		any VAT which
expenditure			cannot be fully recovered, and is reported	as part ofthe expenditure		to which it
			relates.
Expenditure		on	These comprise the costs associated with	attracting voluntary	income, fundraising
raising funds			trading costs and investment management	costs.
Expenditure		on	These comprise the costs incurred by the	Charity in the delivery of its		activities and
charitable	activities		services in the furtherance of its obJects, including the making		ofgrants and
			governance costs.
Grants payable			All grant expenditure is accounted for on	an actual paid basis	plus an	accrual for
			grants that have been approved by the trustees at the end of		the year but not yet
			paid.
Governance		costs	These include those costs associated with	meeting the constitutional		and statutory
			requirements ofthe Charity, including any audit/independent		examination fees,
			costs linked to the strategic management	ofthe Charity, together with a share of
			other administration costs.
Other expenditure			These are support costs not allocated to a particular activity.

2	Stateme	nt ofFinancial	Activities -prior year
				Unrestrkted	Restrkted
				funds	funds	Total funds
				2020	2020	2020
					E	E
Income and		endowments	from:
	Donations and legacies			185		185
	Other trading activities			256,423		256,423
	Investments			923		923
	Other			1,006		1,006
Total				258,537		258,537
Expenditure		on:
	Raising funds			4,950		4,950
	Other			466,687		4ee,e87
Total				471,637		471,637
Net	gains on	investments		(26,895)		(26,895)
Net Income				(239,995)		(239,995)
Net	Income before other
gains/(losses)				(239,995)		(239,995)
Other gains and losses:
Net	movement in funds			(239,995)		(239,995)
Recondliation		offunds:
Total funds brought forward				366,466	9,035,012	9,401,478
Total funds carried forward				126,471	9,035,012	9,161,483
3	Income from donations		and legacies
				Unrestricted	Total	Total
					2021	2020
				E	E	E
	Donations			470	470	185
				470	470	185

4	Income	fro	m	other trading activities
					Unrestricted	Total	Total
						2021	2020
	Rent- flats				206,342	206,342	212,473
	Rent- villas				18,720	18,720	39,000
	Voids				18,300	18,300	4,950
					243,362	243,362	256,423
5	Income	from		investments
					Unrestricted	Total	Total
						2021	2020
	Investment		income		77	77	394
	Deposit	account interest			74	74	529
					151	151	923
6	Otherincome
					Unrestricted	Total	Total
						2021	2020
	Laundry	income			799	799	1,006
					799	799	1,006
7	Expenditure			on raising funds
					Unrestricted	Total	Total
						2021	2020
	Fundraising		trading casts
	Voids				18,300	18,300	4,950
					18,300	18,300	4,950

8	Other expenditure
						Unrestricted	Total	Total
							2021	2020
							E
	Bank loan and overdraft
	interest payable							1,718
	Employee costs					86,008	86,008	78,295
	Motor and travel costs					210	210	257
	Premises costs					77,578	77,578	286,740
	Amortisation, depreciation,
	impairment, profit/loss			on		74,980	74,980	71,001
	disposal offixed assets
	General administrative		costs			13,347	13,347	16,736
	Legal and professional		costs			10,646	10,646	11,940
						263,329	263,329	466,687
9	Net income/(expenditure)			before transfers
						2021		2020
	This is stated after chargmg:					6		6
	Depreciation ofowned		fixed assets			74,980		71,001
10	Staff costs
	Salaries and wages					79,465		71,715
	Social security costs					4,542		4,525
	Pension costs					1,960		1,783
						85,967		78,023
	No employee received		emoluments		in excess ofE60,000.
	The average monthly	number offull time equivalent
	employees during the	year was as follows:
						2021		2020
						Number		Number
	Administration							1
	Warden

11	Tangible Axed assets
		land and	Fixtures &
				Total
		buildings	fittings
	Cost or revaluation
	At 1April 2020	9,650,000	66,081	9,716,081
	Additions	37,072		37,072
	Revaluation	512,928		512,928
	At 31March 2021	10,200,000	66,081	10,266,081
	Depreciation and
	Impairment
	At 1April 2020	860,389	57,620	918,009
	Depreciation charge for the	72,404	2,576	74,980
	year
	At 31March 2021	932,793	60,196	992,989
	Net book values
	At 31March 2021	9,267,207	5,885	9,273,092
	At 31March 2020	8,789,611	8,461	8,798,073
12	Investments
			Other
			investments
				Total
	Cost or revaluation
	At 1April 2020		159,775	159,775
	Revaluation		43,740	43,740
	At 31March 2021		203,515	203,515
	Net book values
	At 31March 2021		203,515	203,515
	At31March 2020		159,775	159,775
13	Debtors
		2021		2020
		E		E
	Trade debtors	5,674		6,351
	Other debtors	90
	Prepayments and accrued income	22,628		9,211
		28,392		15,562

14	Creditors:	Creditors:	Creditors:	Creditors:
	amounts falling due vrithin one year
							2021		2020
							E		f
	Bank loans and overdrafts								6,889
	Trade creditors						42,106		97,851
	Other taxes and social	security							4,171
	Other creditors						1,979		741
	Accruals and deferred	income					13,880		12,400
							57,965		122,052
15	Movement ln funds
						Incoming
				At	1April	resources (Induding other	Resources expended	Gross transfers	At 31 March 2021
					2020	gains/losses)
						f
	Restricted funds:
	Restricted Income funds:
	Revaluation reserve			9,035,012				62,248	9,097,260
	Total			9,035,012				62,?48	9,097,260
	Unrestr(cted funds:
	General funds			126,471		288,522	(281,629)	450,680	584,044
	Revaluation Reserves:
	Total funds			9,161,483		288,522	(281,629)	512,928	9,681,304
	Purposes and restrictions		in relation to the funds:
	Restricted funds:
	Revaluation reserve			Land and buildings
16	Analysis ofnet assets between			funds
							Unrestncted	Restricted
							funds	funds
							f		f
	Fixed assets						5,885	9,267,207	9,273,092
	investments						203,515		203,515
	Net current assets						139,961	64,736	204,697
							349,361	9,331,943	9,681,304

			Unrestricte	Restricted	Total
			d funds	funds	funds	Total funds
			2021	2021	2021	2020
			E	E	f	E
Income and endowments		from:
Donations and legacies
Donations			470		470	185
			470		470	185
Other trading activities
Rent- flats			206,342		206,342	212,473
Rent- villas			18,720		18,720	39,000
Voids			18,300		18,300	4,950
			243,362		243,362	256,423
Investments
Investment income			77		77	394
Deposit account interest			74		74	529
			151		151	923
Other
Laundry income					799	1,006
			799		799	1,006
Total income and endowments			244,782		744,782	258,537
Expenditure on:
Costs ofother trading	activities
Voids			18,300		18,300	4,950
			18,300		18,300	4,950
Total ofexpenditure	on raising funds		18,300		18,300	4,950
Other expenditure
Bank loan and overdraft		interest
payable					560	1,718
					560	1,718
Employee costs
Salaries/wages			79,465		79,465	71,715
Employer's NIC			4,542		4,542	4,525
Pension costs			1,960		1,960	1,783
Staff welfare			41		41	272
			86,008		86,008	78,295
Motor and travel costs
Travel and subsistence			210		210	257
			210		210	257
Premises costs
Rates			10,488		10,488	9,231
Light, heat and power			10,455		10,455	12,537

Premises cleaning					2,937		2,937	1,735
Premises insurances					7,693		7,693	9,309
Premises repairs and	maintenance				42,659		42,659	249,951
Other premises costs					3,346		3,346	3,977
					77,578		77,578	286,740
General administrative	costs,
Including depreciation	and
amortisation
Depreciation of land	and buildings				72,404		72,404	66,904
Depreciation of Fixtures		lk	fittings		2,576		2,576	4,097
Funeralexpenses					175		175	441
Bank charges					107		107	121
Equipment expensed					901		901	1,411
Events and activities					2,642		2,642	1,704
Kitchen supplies					316		316	49
Central control service					1,417		1,417	6,052
Trustees meeting								58
Software, ITsupport costs	and related				271		271
Stationery and printing					1,402		1,402	1,674
Subscriptions					1,190		1,190	583
Sundry expenses					3,466		3,466	2,800
Telephone, fax, broadband licence			and tv		1,460		1,460
					88,327		88,327	87,737
Legal and professional	costs
Audit/Independent examination				fees	3,900		3,900	3,600
Accountancy and bookkeeping					2,880		2,880	2,520
Consultancy fees					2,906		2,906	3,156
Letting agent fees								1,704
Other legal and professional			costs		960		960	960
					10,646		10,646	11,940
Total ofexpenditure of	other		costs		263,329		263,329	466,687
Total expenditure					281,629		281,629	471,637
Net gains on investments					43,740		43,740	(26,895)
Net income/(expenditure)					6,893		6,893	(239,995)
Transfers between funds					450,680	62,248	512,928
Net Income/(expenditure)		before
other gains/(losses)					457,573	62,248	519,821	(239,995)
Other Gains
Net movement in funds					457,573	62,248	519,821	(239,995)