##
#
##
|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|
##