2023-03-31-accounts

Trustees	and Advisors. .......................... .................... ...... ....................	...2
Report of	the Trustees ........ ................. . .................... ...... ....................	.3
Statement	ofthe Responsibilities ofthe Trustees in Respect ofthe Accounts.
Report of Statement	the Auditors. ........ ................. ..............................„. ..,.„. .„. . of comprehensive income for the year ended 31"March 2023	........6 9
Statement	of changes in reserves for the year ended 31"March 2023 .	......... 10
Statement	of financial position as at 31st March 2023 ... ............... ... ........	......... 11
Notes ....... ........................... ..... ...... ...... ........ . ..... ...		..12- 19

Metric								2023	2022
Reinvestment								0.900/0	N/a
New Supply		delivered:
		a)Social	housing		units			N/a	N/a
		s)Non-social		housing		units		N/a	N/a
Gearing								0%	00/0
Earnings before interest, amortisation			taxation,			depreciation	and	00/o	00/o
Headline	social housing		cost	per	unit			ES,309	E4,291
Operating	margin:
		a) Social lettings		only				-38.17%	-22.30%
		b) Overall						-39.900/0	-22.30%
Return on capital employed								-1.740/o	-0.960/o

Statement of Comprehensive	1ncome
for the year ended 31'"March	2023
		Notes	2023	2022
Turnover			44,460	44,762
Operating Costs			(51,172)	(42,908)
Depreciation			(9,146)	(11,829)
Operating (Deficit)/Surplus			(15,858)	(9,975)
Loss on disposal of Fixed Assets			(803)
Interest receivable			24,300	20,855
Total Comprehensive Income for	the year		7,639	10,880
Transfer from Designated Reserves
Income and Expenditure Reserve at	1 April 22		505,860	494,980
Income and Expenditure Reserve	at 31March 23		513,499	505,860

or the year	ended	31March 202	3
			Investment
		Permanent	Revaluation	Designated	Revenue	Total
		Reserve	Reserve e	Reserve E	ReserveI	Reserves E
Balance as at 1"April 2022		126,385	41,981	363,271	505,860	1,037,497
Total comprehensrve					7,639	7,639
income/(Defiot)	for
the year
Revaluation surplus		(2,575)	(4,874)	(12,106)		(19,555)
ansmg dunng	the
year
Balance as at
31"March 2023		123,810	37,107			0 5,5

Statement of Financial	Statement of Financial	Statement of Financial	Statement of Financial	Position	Position
as at 3V' March	2023
						Notes	2023	2023	2022	2022
Fixed Assets
Tangible Assets						6a		430,253		434,728
Investments						7		617,143		619,184
								1,047,396		1,053,912
Current Assets
Debtors							1,430		1,473
Cash at bank and	in	hand					84,331		92,764
							85,761		94,237
Creditors: Amounts		falling
due within one	year						(3,204)		(5,088)
Net Current Assets								82,557		89,149
Total Assets								1,129,953		1,143,061
Creditors: Amounts		falling
due after more	than		one		year	6I3		(104,372)		(105,564)
Total Net Assets								1,025,581		1,037,497
Reserves
Permanent Endowments								123,810		126,385
Investment Revaluation			Reserve					37,107		41,981
Designated Reserves:
Cyclical Maintenance					Fund			72,151		72,151
Extraordinary		Repairs			Fund			279,014		291,120
Revenue Reserve								513,499		505,861
								1,025,581		1,037,497

Depreciation is charged	Depreciation is charged	at the	rates applied below to write	rates applied below to write	off the cost of the asset over their
expected useful	economic lives.
Land			Not Depreciated
Main Fabric			100years straight	line
Roof			40 years straight	line
Electricals			30 years straight	line
Windows			25 years straight	line
External	Doors		25 years straight	line
Bathroom			20 years straight	line
Kitchen			15years straight	line

Turnover and Operating	Turnover and Operating	Surplus for the Year by Class of Business	Surplus for the Year by Class of Business
				2023	2022
Turnover from lettings
Rents and service	charges receivable			45,383	43,571
Amortised government		grants		1,191	1,191
				46,574	44,762
Operating Expenditure
Bad debts written	off
Management				18,693	18,263
Day to day repairs	$.maintenance			28,354	18,830
Services (including	Water Rates)			6,045	5,815
Depreciation				9,146	11,830
Total Expenditure	on	Social Housing	Lettings	62,238	54,738
Void Losses				(2,114)
Senior Executives

								2023	2022
								E	E
Investment		income						24,300	20,855
Surplus	on Ordinary			Activities
								2023	2022
								E
The Surplus		on	ordinary		activities	is stated	after charging:
	Auditor's		remuneration					3,176	3,424

ngible Assets
	Housing	Housing
	Properties	Properties
	2023	2022
Cost:
At 1st April 2022	609,371	609,371
Additions	5,475
Disposals	(4,013)
At 31st March 2023	610,833	609,371
Less: Depreciation
At 1"April 2022	174,643	162,814
Charge for the year	9,146	11,829
Disposals	(3,209)
At 31"March 2023	180,580	174,643
Net BookValue:
31"March 2023	E 430,253	E434,728

6b.	Social Housing	Assistance	Assistance	—Creditors falling	—Creditors falling	due after more	than one year
							2023	2022
							E	E
	Total accumulated		social housing		grant received	at 31 March 22	119,112	119,112
	Recognised in	the	statement	of	comprehensive	income	(14,740)	(13,548)
	Held as deferred		income				104,372	105,564

7.	Fixed Asset Investments	Fixed Asset Investments
						2023	2022
	Valuation at 1"April	2021				E 619,184	S 562,316
	Additions					17,514	14,720
	Disposals
	Surplus arising on revaluation					(19,555)	42,148
	At 31 March 2022					617,143	619,184
7a	Restricted or Designated		Fund Investments
	Endowment Funds
					Nominal	2023	2022
					Holding	e
	Thomas Pye's Charity,	(Incorporating		Charles
	Anderson's Bequest)
	Special Range Unit Trust NAACIF, Income Units				1,836	1,640	1,686
	Market Value					1,640	1,686
	The Hunter Memorial	Homes Trust
	Special Range Unit Trust NAACIF, Income Units				24,750	22,107	22,740
	Charifund Income Units				1,962	29,100	30,994
	Market Value					51,207	53,734
	Designated Funds —Extraordinary			Repairs Fund
					Nominal
					Holding
	Special Range Unit Trust
	NAACIF, Accumulation	Units			4,539	488,671	483,264
	Market Value					488,671	483,264

						Nominal
						Holding
	National Savings		Account				740	740
	Charifund Income Units					5,049	74,885	79,760
	Market Value						75,625	80,500
	Total Market	Value		at End ofYear (As Above)			617,143	619,184
	Historic Cost
	As at 1"April						290,983	290,983
	Additions
	Disposals
	As at 31"March						290,983	290,983
8.	Debtors
							2023	2022
							E
	Rental debtors						449	439
	Prepayments	and accrued			income		981	1,034
							1,430	1,473
9.	Creditors: Amounts			falling due within		one year
							2023	2022
								E
	Prepaid rents						698	193
	Trade creditors		and	accruals			1,172	1,558
	Other creditors						1,334	3,337
							3,204	5,088

2023	2022
E
104,371	105,563
104,371	105,563