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2023-03-31-accounts

Contents Page No
Legal and Administrative
Details
Board Report 2 —15
Statement of Corporate Governance and Internal Controls 16
Independent Auditor's Report 17- 19
Statement of Comprehensive
Income		 and Retained Earnings 20
Statement of Financial Position 21
Statement of Cash Flows 22
Notes to the Financial Statements 23 —32

Regulator ofSocial Housing (RSH) ofSocial Housing (RSH) H4058
Registered Charity Number 1030782
Company Registration Number 2875065
Board Directors: Ms JTurley (Chair) (resigned 29+ November 2022)
Mr P Pitcher
Ms A Morgan (resigned January 2023)
Ms S Ward (Chair) (appointed November 2022)
Ms RAdams
Ms BHurst
Ms BBanks
Ms STothill
Mr A Veate
Executive Director: Mr M Hills Chief Executive Officer
Company Secretary: Ms SBishop (Deputy CEO)
Registered Office: 189Gresty Road
Crewe
Cheshu e
CW2 6EL
External Auditors: Beever and Struthers
One Express
1 George Leigh Street
Manchester
M4 5DL
Bankers: Barclays Bank pic
Crewe Branch
38Market Street
Crewe
CW1 2ET
Principal Solicitors'. Bowcock Cuerden LLP
South Cheshire House
Manor Road
Nantwich
Cheshire
CW5 5LX

Housing and Support Number ofService Positive Outcomes Positive Outcomes
Service Users that moved
out in the last
annum
Gresty Road. Generic 63 22 people moved into their own home either through social
and Foyer Service housing
or the private rented sector.
22 people moved in with a partner, family or fi'iend.
9people moved to other supported acconunodation.
1person moved into student
halls		 at university
Housing Related Suppoit 13young people moved
out of our		 emergency accommodation 10
Service (HRS 165 h 22 moved into supported
accommodation
and 3moved in with family.
commissioned
by
Cheshire East Council

9 people moved out of our suppoited suppoited accommodation, accommodation, 3 moved
into
theu'
own		 tenancy, 5 moved into other supported
acconunodation and 1 moved in with family.

YMCA Creive YMCA StHelens
2021-22 2023-24 2022-2023
Actual 2022-2023 Target
Target Actual
Re-Investment 3.88% 5.41% 0.00% 5.26% 2.51%
New Supply delivered —social housing 6.49% 6.49% 0.00% 3.75% 0.0%
New Supply delivered - non-social housing 0.00% 0.00% 0.00% 0.00% 0.0%
Gearing -8.33% -2.43% -11.90% -4.98% -3.49%
EBITDA-MRI Interest Cover 2,468.8% 1,627.25% 5,635.51% 1,201.68% 1,068.36%
Headline social housing cost per unit $11,488 $15,882 X]2,956 813,456 811,012
Operating margin (social housing units) 13.68% 9.07% 12.84% 13.07% 16.93%
Operating margin (overall) 5.4% 3.12% 6.75% 6.12% 6.96%
Return of capital employed
(ROCE)		 1.73% 1% 2.39% 2 72% 1.66%

+ Operating
Surplus (Overall)		 146,199
Gain on Fixed Asset Disposal (Housing Properties)
Amortised
Government
Grant		 139,664
Goverrunent
Grants Taken to Income
+ Interest Receivable
Capitalised
Major Repaus Expenditure		 for Period
+ Total Depreciation
Charge for		 Period 216,372
Divided by
Interest Capitalised
+ Interest Payable and Financing Costs f, 3,934
KBITDA MRI Interest Cover % 5,635.15%
+ Operating
Expenditure		 from Social Housing from Social Housing from Social Housing Lettings 5 1,263,970
Depreciation
Charge —Housing		 Propetries 162,677
Bad Debts 25,903
Divided by
189Gresty Road 67
+ 186Holland
Street
+ 102 Minshull
New Road
+ 14Broad Street
+ 20 Broad Street
+ 116Lord Street
+ 140A Rolls Avenue
+ 142 Rolls Avenue
+ 140Rolls Avenue
Total Social Housing Units Owned/Managed at Period End 83
Headline
Social Housing		 Cost Per Unit 12,956

Notes 2023 2022
f
Turnover 2,147,156 1,885,398
Operating cxpcndlturc I 997,023 1.765,4751
Operating surplus 1509133 119,923
Interest payablc and linancing costs ~934 9,154)
Totnl surplus for the year and total comprehensive income 7 146 99 I 777.769
Rctainnl comings at thc start ol'the year 1,084
97		 973,628
Retained earnings at thc ead ofthc year 96 4397.

Notes 2023 2022
8
Fixed assets
Tongible fixed assets 5,408,638 5,593,896
Current assets
l)ebtom 10 68,910 76,878
Cosh at bunk and in hand 706,765 518.057
775,675 594,935
Creditors:
Amounts I'ailing due within (297,431) (295,273)
one year
Net current assets 478,244 299,662
5,886,882 5,893,558
Creditors:
Amounis
ycal'		 fulling due cher one 12 (4,656386) (4,809,161)
Net assets ~1230596 1.084,397
Capital snd reserves
Income and expcnditurc 15 1,230496 1,084,397
reserve
2023 2022
8
Net
cash
generated
from		 operating activities (see
note below) 223,758 123,937
Cash flow from investing activities
Purchase oftangible
fixed assets		 3111 319013
(313116) (319,013)
Cash flow from financing activities
Interest paid
Repayment
ofbonowings		 (35934) (2,918)
~6258
(35934) (9,176)
Net change
in cash and cash equivalents		 1885708 (204,252)
Cash and cash equivalents at beginning ofthe year ~518057 722 309
Cash and cash equivalents at end ofthe year ~706 765 5111057
Cash flow from operating activities 2023 2022
Surpitts for the year 146,199 110,769
Adjustments
for non-cash		 items:
Depreciation ofhousing
properties		 162,677 164,774
Depreciation ofother fixed assets 53,697 61,222
Amodisation
ofGovernment		 grants (139,664) (139,664)
Decrease in trade and other debtors 7,968 4,388
Increase tn trade and other creditors (11,053) (86,706)
Adjustment
for investing or financing
Interest payable		 activities: ~3934 9 154
~223 758 123 937

Years
Shucture 50 —70
Boiler 15
Electrical 25 —40
Kitchens and Bathrooms 5 —20
Windows 20 —30
Roofs 15 —70
Lift 20
Hostel and Recreational 25
Motor Vehicles 25
Computer
Equipment		 25
Gym Equipment 25

2023 2022
Operating Surplus/ Operating Surplus/
Notes Turnover Expenditure (Deficit) Turnover Expenditure (Deflcit)
Turnover
and
expenditure from
lettings
Special needs 3 1,6311879 (1,505,990) 125,889 1,297,719 (1,101,994) 195,725
accommodation
Other turnover and
expenditure
CJRS Income
Other income		 515277 ~494967 211,3111 5,684
581995		 (7,626)
~665 2tl9		 (1,942)
~83214
2 147156 ~2848 957 146 199 I 885 398 ~1774 829 Iltl,769
3. Turnover from lettings
2023 2022
Rents receivable net of voids 29007,492 1,158,055
Amortisation of govenunent grants 139 664 139 664
2 147156 1 297 719
Rent losses from voids ~65
4. Interest payable and similar charges
2023 2022
8
On bank loans payable wholly or
paitly in more
instahnents		 than five years by 3,934 2,918
Unwinding ofYMCA pension 6,236
liability discount
~3934 ~9154

Staft'
2023 2022
Number Number
The average number of persons employed during the year including the
Chief Executive Oflicer expressed in full thue equivalents was (based
on a 40 hour week): 28 34
2023 2022
8
Staff costs for the above
Wages and salaries 925,011 856,027
Social security costs 79,714 65,348
Other pension costs 89105 19,498
1033880 940,1173
One full time equivalent staff was paid remuneration ofover f60,000(2022: none).
Directors'
emoluments		 and key management personnel
2023 2022
Total key management personnel remuneration
Emoluments 64)146 57,120
Employer's
pension		 contributions 21488 1,714
Employers
national		 insurance
contributions		 7,788 6 524
74,422 65 358
The emoluments
paid to		 the highest paid Director (Chief Executive)
(excluding
pension		 conn ibutions) ~64 146 ~57 120

2023 2022
Auditors
remuneration		 (excluding VAT) 9,500 8,248
Operating
lease charges		 1,800 5,955
Depreciation ofhousing prope)ties 162)677 164,774
Depreciation ofother fixed assets 53,697 61,222
Amortisation ofgoverrunent grants (139,664) (139,664)

9. Tangible
fixed a		 sse ts
Hostel
Housing Computer Fixtures and
Motor		 Gym Total fixed
Properties Equipment Fittings
Vehicles		 Equipment assets
Cost
At
1 April 2022		 7,353,610 279,389 540,299
38,432		 50,466 8,262, 195
Additions 5 109 22 307
3 700		 31 116
At 31 March 2023 735361)l ~28449II ~562 606
42,132		 511 466 8 293 311
Depreciation
At 1 April 2022
Charge for year		 1,943,378
162677		 221,423
~15768		 436,082
31 631
30,453
2 920		 36,964
~3378		 2,668,299
216374
4At 31 March
2023		 2,106&055 237,191 467,713
33)373		 40,340 2)884)673
Net book value
At 31 March 2023 5,247 555 47 307 )
94,893
8 759		 11),126 5400630
0 31M
I 2022		 5 410,232 57 966 104,217
~7979		 11361 5 593896
2023 2022
Housing
properties
Freehold land and		 comprises:
buildings		 5 247 555 5'10232
10. Debtors
2023 2022
Rent an ears
Provision for bad debts		 111,798
~57526
104,440
~31,623
Net rent anears 54,272 72,817
Prepayments
and accrued income		 I~ 63)l 4,061
68 910 76 878
11. Creditors:
Amounts
falling		 due within
one year:
2023f 2022
Bank loan 6,117 6,117
Trade creditors 1)819 5,706
Rents in advance 7,581 14,324
Social security and other taxes 26,243 19,086
Accruals and defen ed income 84,945 78,382
Pension agreement plan (note 13) 31,062 31,994
Deferred capital grant (note 14) 139664 139664
297 431 293 273

Deferred capital grant
2023 2022
As at I April 4)714,731 4,854,395
Released to income in the year ~139664 ~139664
As at 31 March ~4575 067 4 714731
2023 2022
Due within one year 139,664 139,664
Due within two to five years 418,992 558,656
Due in over five years ~4016411 4 016411
4,575,067 ~4,714731

The Association The Association holds office equipment under non-cancellable under non-cancellable operating operating leases.
At the end ofthe year the		 leases.
At the end ofthe year the
Association had commitments oftotal future minimum lease payments as follows:-
2023f
Expu ing:
Not later than one year 450 900
Later than one year and not later than five years
450 900
18. Units/Bedspaces
2023 2022
Number Number
Uuder management
at end		 ofthe year
Suppoited hostel accommodation 83
19. Grant and financial assistance

2023 2022
f
Held as deferred grant —housing 4&575,067 4,714,731
Recognised as income in Statement ofComprehensive Income —housing 1,519,492 1,379,828
Recognised as income in Statement ofComprehensive Income —other 25,615 25,615
~6120 174 6,120,174

Analy sis ofchanges
in net debt
At I Other At 31
April Cash non-cash March
2022 flows changes 2023
Cash at bank 518,057 188,708 706,765
Loans
Loans		 Due in One Year
Due After One Year		 (6,117)
~60 774		 5,458 (6,117)
~55 316
451,166 ~194 166 645 332