|||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)|