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|Contents||||Page|
|---|---|---|---|---|
|Company
information|||||
|Board report||||2-10|
|Statement
ofBoard's|responsibilities||||
|Independent
auditors'|report|||12 —15|
|Accounting
policies||||16—18|
|Income and Expenditure||Account|||
|Statement
of Comprehensive|||Income|20|
|Balance sheet|||||
|Cash flow statement||||22|
|Notes to the financial|statements|||23-32|
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|value, ofeach asset on a|systematic
basis o|ver|
|---|---|---|
|Housing
properties|2% straight|line|
|Motor vans|25% straight|line|
|Computer
equipment|25% straight|line|
|Office equipment|25% straight|line|
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|||Note|2021|2020|
|---|---|---|---|---|
||||6|f|
|Turnover|||10,122,921|8,190,684|
|Less: Operating
costs|||(9,070,236)|(7,628,032)|
|Operating
surplus||1|1,052,685|562,652|
|Interest receivable
and similar income||5|56|226|
|interest payable and similar charges||6|(61,113)|(71,239)|
|Surplus on ordinary|activities for the year||991,628|491,639|
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|||||Note|2021|2020|
|---|---|---|---|---|---|---|
|Surplus|for the year||||991,628|491,639|
|Actuarial|gains/(losses)|in respect of defined|benefit pension||(270,000)|259,000|
|scheme|||||||
||||||721,628|750,639|
|Total comprehensive||income for the year|||721,628|750,639|
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|||||Note|2021|2020|
|---|---|---|---|---|---|---|
||||||6||
|Fixed assets|||||||
|Properties at depreciated|||cost|7|4,378,564|2,694,120|
|Other fixed assets||||8|71,929|99,769|
|Total fixed assets|||||4,450,493|2,793,889|
|Current assets|||||||
|Debtors||||10|719,517|748,470|
|Cash at bank and|in hand|||9|2,773,546|961,909|
||||||3,493,063|1,710,379|
|Creditors —amounts||falling due within one year||11|~993219|640,533|
|Net current assets|||||2,689,844|1,069,846|
|Total assets less|current||liabilities||7,140,337|3,863,735|
|Creditors —amounts||falling due after one year||12|(3,949,462)|(1,626,488)|
|Defined benefit liability||||18|(423,000)|(191,000)|
|Total net assets|||||2,767,875|2,046,247|
|Capital and reserves|||||||
|Revenue reserve||||16|2,753,623|2,025,923|
|Restricted reserves||||16|14,252|20,324|
||||||2,767,875|2,046,247|
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|||||Note|2021|2020|
|---|---|---|---|---|---|---|
|||||||r|
|Cash flow from operating|activities|||17|1,447,196|614,508|
|Cash flow from investing|activities||||||
|Payments
to acquire tangible||fixed assets|||(1,955,901)|(276,709)|
|Receipts from sales oftangible fixed assets|||||56,058|2,654|
|Interest received|||||56|226|
|Net cash flow from investing||activities|||(1,899,787)|(273,829)|
|Cash flow from financing|activities||||||
|Interest paid|||||(61,113)|(71,239)|
|Repayment
of long term loans|||||(224,659)|(59,629)|
|Cash intlow from new borrowings|||||2,550,000|300,000|
|Net cash flow from financing||activities|||2,264,228|169,132|
|Net increase in cash and cash equivalents|||||1,811,637|509,811|
|Cash and cash equivalents||at the beginning|ofthe||961,909|452,098|
|reporting
period|||||||
|Cash and cash equivalents||atthe end ofthe|||||
|reporting
period|||||2,773,546|961,909|
|Cash and cash equivalents||consists of:|||||
|Cash at bank and in hand||||9|2,773,546|961,909|
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|Social housing income and expenditure|||
|---|---|---|
||2021|2020|
||6|6|
|Gross rents receivable|5,098,627|3,993,760|
|Supporting
People income
Revenue grants receivable
AASCincome
Other income|805.398
216,731
3,600,926
401,239|823,974
110,056
3,108,758
154,136|
||10,122,921|8,190,684|
|Social housing
operating costs|(9,070,236)|(7,606,052)|
|Operating
surplus|1,052,685|584,632|
|Operating
surplus|||
|Operating
surplus
is stated after charging:|||
||2021f|2020
E|
|Auditors
remuneration|||
|-as auditors
-for non audit services
Depreciation|3,700
6,362
249,257|3,600
7,362
220,407|
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|The ave|rage
n|umber||ofpersons employed
during th|e year expressed
in full time equivalent|s
was:|
|---|---|---|---|---|---|---|
||||||2021|2020|
||||||No.|No.|
|Administration||staff|||22|14|
|Housing|development|||staff|96|90|
||||||118|104|
|Total employee||emoluments:|||2021|2020|
||||||6|E|
|Gross salaries|||||2,483,392|2,003,135|
|Employers
national|||insurance||198,916|156,387|
|Pension|contributions||||125,807|162,418|
||||||2,808,115|2,321,940|
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|5.|Interest|receivable|||
|---|---|---|---|---|
||||2021|2020|
|||||6|
||Bank deposits||56|226|
|6,|Interest|payable|||
||||2021|2020|
|||||6|
||Mortgage|interest|61,113|71,239|
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|Tangible fixed assets —housing|properties|(for letting)||
|---|---|---|---|
||||Properties|
|Cost||||
|As at 1 April 2020|||3,386,355|
|Additions|||1,888,719|
|Disposals||||
|As at 31 March 2021|||5,275,074|
|Depreciation||||
|As at 1 April 2020|||692,235|
|Charge for the year|||204,275|
|Eliminated
on Disposals||||
|As at 31 March 2021|||896,510|
|Net book value||||
|As at 31 March 2021|||4,378,564|
|As at 31 March 2020|||2,694,120|
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|9,|Cash and cash equivalents|Cash and cash equivalents|Cash and cash equivalents|||2021|2020f|
|---|---|---|---|---|---|---|---|
||Cash at bank and|in hand||||2,773,546|961,909|
|10.|Debtors|||||2021|2020|
||All receivable
within one year:|||||6||
||Rents receivable|||||208,108|139,974|
||Other trade debtors|||||421,402|536,851|
||Prepayments
and|accrued income||||90,007|71,645|
|||||||719,517|748,470|
||Included
within rents||receivable|is a provision||off204,868(2020:6228,351) in respect of bad and||
||doubtful
debts
in|relation to social housing|||rent|arrears.||
|11.|Creditors|||||2021|2020|
||Amounts
falling due within one|||year:||6|F|
||Trade creditors|||||376,597|295,408|
||Accruals and deferred||income|||298,489|217,404|
||Bank loans|||||116,201|116,373|
||Other loans|||||11,932|11,348|
|||||||803,219|640,533|
|12.|Creditors|||||2021|2020|
||Amounts
falling due after one year:|||||||
||Accruals and deferred||income|||1,464|3,419|
||Bank loans|||||1,466,266|1,520,404|
||Otherloans|||||2,481,732|102,665|
|||||||3,949,462|1,626,488|
|ears:||
|---|---|
|2021|2020|
|8||
|3,421,264|1,097,379|
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||||||2021|2020|
|---|---|---|---|---|---|---|
||||||8||
||Operating
leases||which|expire:|||
||Within one year||||216,832|89,533|
||Within two to five||years||618,557|288,106|
||After five years||||30,986|42,000|
||||||866,375|419,639|
|14.|Accommodation||in management||2021|2020|
||Social housing|properties||owned|||
||General||needs housing||51|33|
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|||B/fwd|Income|Expendituref|Pension|C/fwd
8|
|---|---|---|---|---|---|---|
|Restricted funds|||||||
|SMITF Welcome|Fund|1,667||||1,667|
|BLF Hull EU Revenue||8,517||||8,517|
|SYCFCSE||70||||70|
|SYFSprinklers|||1,955|(1,955)|||
|BLFCapital Match|||1,489|(1,489)|||
|Children
in Need||3,998||||3,998|
|Clothworkers|||1,000|(1,000)|||
|Efficiency North|||1,000|(1,000)|||
|Kiln Match|||375|(375)|||
|SMITF||6,072|214|(6,286)|||
|RMBC Adult care|||45,833|(45,833)|||
|Lottery grant training|||9,325|(9,325)|||
|IPC grant|||8,378|(8,378)|||
|Small individual|grants||5,498|(5,498)|||
|Unrestricted
funds||2,025,923|10,047,910|~0,320,210||2,753,623|
|||2,046,247|10,122,977|(9,401,349)||2,767,675|
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|Reconciliation
ofop|erating
surplus to cash flows|from operating
activities||
|---|---|---|---|
|||2021|2020|
|||8||
|Surplus for the year||721,628|750,639|
|Interest payable||61,113|71,239|
|Interest receivable||(56)|(226)|
|Depreciation||249,257|220,407|
|Loss/(Profit)
on disposal||(6,018)|2,965|
|Decrease/(Increase)|in debtors|28,953|(271,224)|
|(Decrease)/Increase|in creditors|392,319|(159,292)|
|Net cash flow from|operating|1,447,196|614,508|
|activities||||
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|Changes|in the defined
benefit obligation
are as follows:||
|---|---|---|
|||2021|
|||ROOOs|
|Obligation|at the start ofthe year|1,576|
|Service cost||30|
|Interest expense||38|
|Actuarial|gains and losses|468|
|Benefits paid||(36)|
|Other||28|
|Obligation|at the end ofthe year|2,104|
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|||||2021|
|---|---|---|---|---|
|||||0000s|
|Fair value at start ofthe year||||1,385|
|Interest income||||34|
|Return on plan assets, excluding|amounts|included|in net interest|198|
|Contribution
by scheme participants||||100|
|Deficit contributions||||(36)|
|Fair value at the end ofthe year||||1,681|
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|||||2021|
|---|---|---|---|---|
|||||KOOOs|
|Deficit funding||liability at 1 April 2020||191|
|Actuarial|movements||during the year|270|
|Current|service|cost|during
the year|38|
|Deficit contributions|||paid during the year|(76)|
|Defined|benefit|liability at 31 March 2021||423|
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|The principle
actuarial assu|mptions
used are as follows:|||
|---|---|---|---|
|||2021|2020|
|||%per annum|%per annum|
|Discount rate||2.17|2.38|
|Inflation (RPI)||3.28|2.63|
|Inflation (CPI)||2.86|1.63|
|Salary Growth||3.86|2.63|
|||75%of|75%of|
|Allowance for commutation|of pension for cash at retirement|maximum|maximum|
|||allowance|allowance|
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||||Life|
|---|---|---|---|
||||expectancy at|
||||age 65|
||||(Years)|
|Male retiring|in|2021|21.6|
|Female retiring||in 2021|23.5|
|Male retiring|in|2041|22.9|
|Female retiring||in 2041|25.1|
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