SAXON WEALD HOMES LIMITED

Charity number: 1114158
Removed charity

Charity overview

Activities - how the charity spends its money

Saxon Weald provides social housing in Sussex and Hampshire and currently owns 6,606 homes. Housing for older people in retirement (normally referred to as sheltered housing) and extra care properties makes up about 29% of the social rented homes managed.

Income and expenditure

Data for financial year ending 31 March 2018

Total income:
£48,308,778

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Donations and legacies £0
Charitable activities £47.18m
Other trading activities £0
Investments £1.13m
Other £0

Total expenditure:
£43,060,274

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Raising funds £0
Charitable activities £31.10m
Other £11.96m

-£268,252 investments gains (losses)

Total income includes £138,650 from 2 government contract(s) and £580,441 from 2 government grant(s)

Charitable expenditure

Charitable expenditure

Some charities generate all, or a substantial part, of their income from investments which may have been donated to the charity as endowment or set aside by the charity from its own resources in the past. Such investments usually take the form of stocks and shares but may include other assets, such as property, that are capable of generating income and/or capital growth.

In managing their spending and investments charities need to strike a balance between the needs of future and current beneficiaries. They also need to take account of spending commitments that may stretch over a number of future years. To do this, charities will normally adopt an investment strategy designed to generate both income and capital growth. To maximise returns trustees may commit to investment strategies for several years.

Investments can experience large swings in value so trustees may, in a particular year, decide to realise and spend part of their charity’s capital or to invest part of its income.

By clicking the investment gains checkbox the charitable spending bar is adjusted to take account of capital growth as well as income. This shows the balance the charity is striking, between spending on current beneficiaries and retaining resources for future beneficiaries.

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Raising funds and other expenditure £11.96m
Charitable expenditure £31.10m
Retained for future use £5.25m

Fundraising

This charity does not raise funds from the public

Trading

One or more trustees are also directors of the subsidiaries

Trustee payments

One or more trustees receive payments or benefits from the charity for being a trustee.

What, who, how, where

What the charity does:
  • Disability
  • The Prevention Or Relief Of Poverty
  • Accommodation/housing
  • Economic/community Development/employment
Who the charity helps:
  • Children/young People
  • Elderly/old People
  • People With Disabilities
  • Other Charities Or Voluntary Bodies
How the charity helps:
  • Makes Grants To Organisations
  • Provides Buildings/facilities/open Space
  • Provides Services
Where the charity operates:
  • Throughout England

Governance

Registration history:
  • 11 May 2006: Standard registration
  • 18 April 2019: Removed (Exempt charity)
Organisation type:
Charitable company
Other names:

No other names

Gift aid:
Not recognised by HMRC for gift aid
Other regulators:
No information available
Policies:
  • Complaints handling
  • Conflicting interests
  • Investment
  • Paying staff
  • Risk management
  • Safeguarding vulnerable beneficiaries
Land and property:
This charity owns and/or leases land or property

Financial history

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Financial period end date

Income / Expenditure 31/03/2014 31/03/2015 31/03/2016 31/03/2017 31/03/2018
Total gross income £36.57m £43.64m £45.67m £45.10m £48.31m
Total expenditure £24.80m £39.76m £41.66m £38.75m £43.06m
Income from government contracts N/A £480.00k £305.00k £219.87k £138.65k
Income from government grants N/A £1.86m £2.74m £293.75k £580.44k
Income - Donations and legacies £0 £0 £0 £0 £0
Income - Other trading activities £0 £0 £0 £0 £0
Income - Charitable activities £36.57m £38.27m £42.96m £43.92m £47.18m
Income - Endowments £0 £0 £0 £0 £0
Income - Investment £536.96k £284.03k £764.27k £1.18m £1.13m
Income - Other £4.47m £5.08m £1.95m £0 £0
Income - Legacies £0 £0 £0 £0 £0
Expenditure - Charitable activities £36.54m £36.98m £28.92m £27.26m £31.10m
Expenditure - Raising funds N/A N/A £0 £0 £0
Expenditure - Governance £0 £0 £137.24k £151.07k £158.77k
Expenditure - Grants institution £0 £0 £0 £0 £0
Expenditure - Investment management £0 £0 £0 £0 £0
Expenditure - Other £1.34m £2.78m £12.75m £11.49m £11.96m

Assets and liabilities

Definitions for assets and liabilities
Own use assets

These are assets, other than investments, which are held for more than 12 months and used to run and administer the charity such as buildings, offices, exhibits and fixtures and fittings.

Long term Investments

Investments are assets held by the charity with the sole aim of generating income which will be used for their charitable purposes such as deposit accounts, shares, rental property and unit trusts.
Investment assets are re-valued every year and included in the balance sheet at their current market value.
Long term investments are held for more than 12 months.

Other assets

These are assets held generally for less than 12 months such as cash and bank balances, debtors, investments to be sold within the coming year and trading stock.

Defined benefit pension scheme asset or liability

This is a surplus or deficit in any defined benefit pension scheme operated and represents a potential long-term asset or liability.

Total liabilities

These are all the amounts owed by the charity at the balance sheet date to third parties such as bills due but not yet paid, bank overdrafts and loans and mortgages.

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Asset / Liability 31/03/2014 31/03/2015 31/03/2016 31/03/2017 31/03/2018
Own use assets £199.43m £220.27m £282.75m £291.84m £302.45m
Long-term investments £50.00k £50.00k £6.66m £23.92m £23.73m
Other assets £60.13m £44.09m £43.38m £23.78m £19.83m
Defined benefit pension scheme asset or liability -£2.70m -£4.62m -£3.02m -£3.41m -£2.67m
Total liabilities £233.38m £236.44m £293.56m £292.07m £292.44m

Accounts and annual returns

This table shows the charity's record of submitting annual returns, accounts and trustees' annual report (TAR) for the last five financial periods.
Title Reporting year Date received Received Download
Annual return 31 March 2019 Not submitted
Accounts and TAR 31 March 2019 Not submitted
Annual return 31 March 2018 13 December 2018 On Time
Accounts and TAR 31 March 2018 13 December 2018 On Time
Annual return 31 March 2017 31 January 2018 On Time
Accounts and TAR 31 March 2017 31 January 2018 On Time
Annual return 31 March 2016 27 January 2017 On Time
Accounts and TAR 31 March 2016 27 January 2017 On Time

Governing document

Details of the type of governing document the charity has and when it was established.
It is not the full text of the charity's governing document.

MEMORANDUM AND ARTICLES INCORPORATED 24/09/1999 AS AMENDED BY SPECIAL RESOLUTION(S) DATED 02/11/1999 AS AMENDED BY SPECIAL RESOLUTION(S) DATED 24/04/2006 AS AMENDED BY SPECIAL RESOLUTION(S) DATED 28/09/2009 AS AMENDED BY SPECIAL RESOLUTION(S) DATED 16/04/2012 NOW ARTICLES ADOPTED BY SPECIAL RESOLUTION DATED 08/11/2013 AS REGISTERED AT COMPANIES HOUSE ON 08/10/2013

Charitable objects

THE OBJECTS OF THE COMPANY SHALL BE (A) TO PROVIDE SOCIAL HOUSING, OTHER HOUSING, ACCOMMODATION AND ASSISTANCE TO HELP HOUSE PEOPLE AND ASSOCIATED FACILITIES, SERVICES AND AMENITIES FOR POOR PEOPLE AND FOR THE RELIEF OF ELDERLY, DISABLED (WHETHER PHYSICALLY OR MENTALLY OR LEARNING DISABLED) OR CHRONICALLY SICK PEOPLE; AND (B) ANY OTHER CHARITABLE OBJECT NOT PROHIBITED FOR A COMPANY REGISTERED WITH THE REGULATOR AS A PRIVATE REGISTERED PROVIDER OF SOCIAL HOUSING.

Area of benefit

The area the charity can operate in, as set out in its governing document.

THE DISTRICT OF HORSHAM.