|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| ##