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2021-07-31-accounts

Contents
Legal and Administrative Information
Trustees'
Report
Statement of Trustees' Responsibilities 22
Independent Auditor's Report to the Members of Unipol Student Homes 23
Consolidated Statement of Financial Activities 27
Consolidated and Charity Balance Sheet 28
Consolidated Cash Flow Statement 29
Notes to the Financial Statements 31

Unrestricted Restricted Total Total
Note funds funds 2021 2020
Income
Charitable
activities		 4/27 12,970,664 94,100 13,064,764 11,650,807
Other trading
activities		 18,000 18,000 18,000
Investments 97 97 2 151
Total Income 12.970,761 112,100 13,082,861 11,670,958
Expenditure
Charitable
activities		 7/27 12.888,801 112,100 13,000,901 11.840,776
Total Expenditure 12,888,801 112,100 13,000,901 11,840,776
Gain on disposal ofFixed Asset 14 257,822 257,822
Net (Deficit)/Surplus 10/27 339,782 339,782 (169,818)
Net Income to Designated funds 239,242 239,242 173,933
Net Gain on disposal ofFixed Assets 257,822 257,822
Net Ex enditure
to Other		 Charitable funds 157,282 157,282 343,751
NET MOVEMENT
IN FUNDS		 339,782 339,782 (169,818)
Total funds brought forward at 1August 21,22 5,056,977 5,056,977 5,226,795
Total funds carried forward at 31July 21,22 5,396,759 5,396,759 5,056,977

Note 2021 2020 2021 2020
Group
6		 Groupf Charity Charity
FIXEDASSETS
Tangible assets 14 14,178,255 14,353,109 14,178,255 14,353,109
Investment 15 - - 1 1
14,178,255 14,353,109 14,178,256 14,353,110
CURRENT ASSETS
Stock 16 415 2,038 415 2,038
Debtors 17 1,390,264 1,350,521 1,393,451 1,353,808
Cash at bank and in hand 675,808 103,520 675,808 103,520
2,066,487 1,456,179 2,069,674 1,459,366
CREDITORS: amounts falling due within
one year 15 (5,860,694) (5,089,275) (5,860,694) (5,089,276)
NET CURRENT LIABILITIES (3,794,207) (3,633,097) (3,791,020) (3,629,910)
TOTAL ASSETSLESS CURRENT 10,384,048 10,720,012 10,387,236 10,723,200
LIABILITIES
CREDITORS: amounts falling due after 19 (4,987,289) (5,663,035) (4,987,289) (5,653,035)
more than one year
5,396,759 5,056,977 5,399,947 5,050,165
FUNDS
Unrestricted
funds:
Designated
funds		 20/21/22 838,795 599,553 838,795 599,553
Other Charitable funds 20/21/22 4,557,964 4,457,424 4,561,152 4,460,612
5,396,759 5,056,977 5,399,947 5,060.165

Note 2021 2020
K F
Net cash inflow from operating activities A 2,649,826 983,106
Returns on investments and servicing offinance B (209,637) (213,037)
Capital expenditure C (1,148,347) (920,285)
Net cash inflow/(oufflow) before use offinancing 1,291,842 (150,216)
Management
offinancing		 (719,554) 176,220
Increase
in cash		 572,288 26,004
NOTES TO CASH FLOW STATEMENT:
A. RECONCILIATION OF NET INCOMING RESOURCES TO NET CASH INFLOW FROM
ACTIVITIES
2021 2020
5
Incoming/(Outgoing) resources for the year before 339,782 (169,818)
unrealised
gains
Interest receivable (97) (2,151)
Interest payable 206,833 216,342
Depreciation
charges		 1,072,521 1,079,958
Disposal offixed asset 250,680
Decrease
in stock		 1,623 20,700
(Increase)
in debtors		 (39,643) (238,315)
Increase
in creditors		 818,127 76,390
Net cash inflow from operating activities 2,649,826 983,106
RETURNS ON INVESTMENTS AND SERVICING OF FINANCE
2021
E		 2020f
Interest received 97 2,151
Interest paid (209,734) (215,188)
Net cash oufflow on investments and servicing offinance (200,037) (213,037)
C. NET CAPITAL EXPENDITURE
2021 2020
6 E
Purchase
offixed assets		 (1,148,347) (920,285)
(1,148,347) (920,285)
D. MANAGEMENT
OF		 FINANCING
2021 2020
6 5
(Decrease)
in overdraft		 (914,645) (410,038)
Increase
in bank loans		 195,091 586,258
Net cash inflow from financing (719,554) 176,220

RECONCI LIATION
O		 F NET CA SH FLOW TO MOVE MENT
IN NET		 DEBT
2021 2020
F 6
Increase/(Decrease) in cash in the year 572,288 26,004
Cash inflow from financing 719,554 (176,220)
Movement in debt in the year 1,291,842 (150,216)
Net debt at 1 August (6,738,420) (6,588,204)
Net debt at 31July (5,446,578) (6,738,420)
Analysis ofnet debt
1 August Non-Cash 31July
2020 Cash flow Movement 2021
6 6 F 6
Cash at bank and
in hand		 103,520 572,288 675,808
Decrease in overdraft (914,645) 914,645
Debt due within one year (876,772) (764,401) (1,641,173)
Debt due after one year (5,050,523) 569,310 (4,481,213)
(6,738,420) 1,291,842 5,446,578

Total Total
2021 2020
Income
Charitable
acfivlties		 13,064,764 11,650,807
Other trading activities 18,000 18.000
Investments 97 2.151
Total Income 13,082,861 11,670.956
Expenditure
Charitable activittes (13,000,901) (11,640,776)
Total Expenditure (13,000,901) (11,806,137)
Net Income/(Expenditure) 81,960 (169,918)
Gain on disposal oftangible assets 257,822
NET MOVEMENT
IN FUNDS		 339,782 (169,918)
Total funds brought forward at 1August 5,060,165 5,229,983
Total funds carried forward at 31 July 5,399,947 5,060,165
Represented by:
Unrestricted income funds 5,399,947 5.060,165
5,399,947 5,060.165

Unrestrictedf Restrictedf 2021f Unrestricted Restrictedf 2020f
Unipol Housing 11,680,094 11,680,094 10,283,507 10,283.507
Housing
Hubs		 350,491 55,000 405,491 412,847 55,000 467.647
Code of 95,372 39,100 134,472 67,054 39,100 105.164
Standards
National Code of 581,482 581,482 526,968 526.968
Standards
Property 246,112 246,112 228.368 228,368
Management
Conference		 11113 ~17113 37953 37953
12,970,664 94,100 13,064,764 11,556,707 94,100 11,650,807

ANALYSIS OF EXPENDITURE ON CHARI TABLE ACT IVITIES
National
Unipol Housing Code of Code of Property 2021
Housingf Hubs
E		 Standards
E		 Standards
E		 Management
6		 Conference
6		 Total
E
Direct Costs 2,378,872 46,675 19,161 186,837 19,047 6,343 2,656,935
Repairs
&		 1,877,121 1,055 1,878,176
Refurbs
Staffing 833,817 138,177 49,948 179,751 144,845 11,095 1,357,633
Lease 3 4,223,037 4,223,037
Management
charges
Major Works 89,974 89,974
Loan interest 198,391 3,089 618 3,294 1,235 206 206,833
Depreciation 947,675 947,875
Support
Governance		 841,179
39 754		 398,157
~12786		 75,819
~4520		 142,704
~25 522		 65,508
~5384		 26,634
2471		 1,550,001
9D437
National
Unipol Housing Code of Code of Property 2020
Housing Hubs Standards Standards Management Conference Total
E E E 6 6 E
Direct Costs 2,131,732 46,283 22,539 168,983 25,532 20,000 2,415,069
Repairs & 1,722,604 2,867 1,725,471
Refurbs
Staffing 790,911 125,123 51,405 149,016 135,398 20,029 1,271,882
Lease & 3,530,341 3,530,341
Management
charges
Major Works 108,865 108,865
Loan interest 216,342 216,342
Depreciation 957,180 957,180
Support 812,278 435,765 76,162 120,142 62,751 21,892 1,528,990
Governance 44337 12148 3831 19187 53D7 1 426 86636
JIL2tdelgg

National
Unipol Housing Code of Code of Property
Housingf Hubsf Standards
6		 Standards f Management
f		 Conference
f		 Total
f
Costs (11,430,020) (598,884) (150,066) (538,108) (237,074) (46,749) (13,000,901)
Rent 11,939,603 (1,905) 11,937,698
Covid Net (496,760) (496,750)
Rebate
Subventions & 226,205 54,100 280,305
College Fees
Fees 131,182 80,372 526,814 22,467 17,013 777,848
Membership 30,647 100 30,747
Fees
Commission
Sundry
Income		 237241 11451 ~54668 222,242
~3308		 222,242
312674
Net Cost

2021 2020
Support
f		 Governance
f		 Total
f		 Support Governance
f		 Total
f
General
Office Costs		 239,096 239,096 312,187 312,187
IT Expenditure 357,787 357,787 299,092 299,092
Staff Costs 781,435 64,844 846,279 735,331 61,763 797,094
Depreciation 124,644 124,644 122,778 122,778
Other Finance Charges 47,039 47,039 59,602 59,602
Audit ~25593 ~25593 24 873 24 873
Net Cost

NET INCOME/(EXPENDITURE)
FOR		 NET INCOME/(EXPENDITURE)
FOR		 NET INCOME/(EXPENDITURE)
FOR		 THE YEAR THE YEAR
This is stated after charging: 2021 2020
E F
Auditor's
remuneration:		 audit ofthese financial statements 25,593 24,873
Interest payable 206,833 216.342
Operating
leases and management		 agreements 4,309,564 3,634,899
Depreciation
on tangible		 fixed assets 1,072,521 1,079.958
Directors'
liability insurance		 3,136 3,136
Interest receivable (97) (2,151)
STAFF NUMBERS AND COSTS
2021 2020
No No
Average
number
of full-time equivalent		 employees 53 53
BREAKDOWN OF STAFF PER SECTION
Housing 33 33
Housing
Hubs &Code of Standards		 10 11
National Code 5 4
Property
Management		 4 4
Conferences
and ANUK		 1 1
TOTAL 53 53
Average
number
of employees		 72 73
BREAKDOWN OF STAFF PER SECTION
Housing 47 48
Housing
Hub &Code of		 Standards 15 16
National
Code		 5 4
Property
Management		 4 4
Conferences
and ANUK		 1 1
TOTAL 72 73
2021 2020
E E
Staff costs
Wages and salaries 1,802,003 1,689.264
Employer's
National
Insurance		 148,417 140,476
Employer's
pension costs (see note		 25) 228,493 214,237
Sub-total before administration charge 2,178,913 2,043,977
Administration
Charge		 24,999 24,999
TOTAL 2,203,912 2,068,976

Paymen ts
to Board Members
2021 2020
E 6
Andrew Welsh —Consultancy 6,720 1,022
Michael Wilkinson —Travel expenses as a Board Member 19

Group an d charity
2021 2020
E
Included in Unipol Housing expenditure:
Bank and other loans 206,633 216,342
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are given bel o w.
2021 2020
E 5
Turnover
Interest receivable
Administrative expenses
Operating
(loss)/profit
Deed of gift to Unipol Student Homes
(Loss)/Profit for the financial year
The aggregate ofthe assets. liabilities and funds was:
2021 2020
E 5
Total assets
Total liabilities (3,187) (3,187)
(3,187) (3,187)
Represented by:
Called up share capital 1 1
Profit and loss account (3,188) (3,188)
(3,187) (3,187)
Turnover
Interest receivable
Administrative
expenses
Operating
(loss)/profit
Deed of gift to Unipol Student Homes
(Loss)/Profit
for the financial		 year
The aggregate
ofthe assets.		 liabilities and funds was:

Group Charity
2021 2020 2021 2020
E E 5 F
415 2,038 415 2,038
415 2,038 415 2,038

DEBTORS
Group Charity
2021 2020 2021 2020
2 2 2
Owed from subsidiary undertaking 3,187 3,187
Rents receivable 557 65,963 557 65,963
Other debtors 749,604 861,604 749,604 861,604
Prepayments and accrued income 640,103 423,054 640,103 423,054
1,390,264 1,350,621 1,393,451 1,353,808
CREDITOR S: AMOUNTS FALLING DUE WITHIN ONE YEAR
Group Charity
2021 2020 2021 2020
2 2 2 2
Overdraft 914,645 914,645
Loans (see note 19) 1,641,173 876,772 1,641,173 876,772
Returnable deposits 339,290 411,060 339,290 411,060
Trade creditors 1,695,537 561,134 1,695,537 561,134
Taxation and social security costs 13,650 29,714 13,650 29,714
Other creditors 393,593 317,052 393,593 317,052
Accruals 836,580 962,714 836,580 962,714
Deferred income (see below) 940,871 1,016,185 940,871 1.016,185
5,860,694 5,089,276 5,860,694 5,089,276
ANALYSIS OF DEFERRED INCOME
Group Charity
2021 2020 2021 2020
2 2 2 2
Rental income 618,773 624,373 618,773 624,373
Contribution from Landlords
towards capital works 102,084 102,398 102,084 102,398
Subventions, fees and funding
income 220,014 289,414 220,014 289,414
940,871 1,016,185 940,871 1,016,185

Group Charity
2021 2020 2021 2020
5 E E E
Bank loans 4,481,213 5,050,523 4,481,213 5,050,523
Deferred Income 506,076 612,512 506,076 612,512
4,987,289 5,663,035 4,987,289 5,663,035
agreements
for refurbishment
ofthe properties.
These amount
ofthe leases
in line with the rate of depreciation		 s
will be released
over the duration		 s
will be released
over the duration
Group and Charity
2021 2020
Analysis
of loan repayments		 5 E
Bank loans and other loans
Within one year or on demand (see note 18) 1,641,173 876,772
Between one and two years 787,280 862,380
Between two and five years 2,231,871 2,105,854
After five years 1,462,062 2,082,289
6,122,386 5,927,295
ANALYSIS OF GRO UP ASSETS AND LIABILITIES BET LIABILITIES BET WEEN FUNDS
Unrestricted funds
Designated Undesignated Total Total
funds funds 2021 2020
E E F 0
Fixed assets 14,178,255 14,178,255 14,353,109
Current assets 838,795 1.227,692 2,066,487 1,455,179
Creditors: amounts falling due within (5,860,694) (5,860,694) (5,089,276)
one year
Creditors: amounts falling due after (4,987,289) (4,987,289) (5,663,035)
more than one year
838,795 4,557,964 5,396,759 5,056,977

STATEMENT
OF MOVEMENT ON RESE
 RVES
Charity as at 31July 2021 Unrestricted Unrestricted
funds: funds; Other
Designated charitable Total
funds funds funds
E E
At 1 August 2020 599,553 4,460,612 5,060,165
Net movement in funds (89,974) 429,756 339,782
Transfers 329,216 (329,216)
At 31July 2021 838,795 4,561,152 5,399,947
Charity as at 31July 2020 Unrestricted Unrestricted
funds: funds: Other
Designated charitable Total
funds funds funds
E E E
At 1 August 2019 425,620 4,804,363 5,229,983
Net movement in funds (108,865) (80,953) (169,818)
Transfers 282,798 (282,798)
At 31July 2020 599,553 4,460,612 5,060,165
Group as at 31July 2021 Unrestricted Unrestricted
funds: funds: Other
Designated charitable Total
funds funds funds
E E E
At 1 August 2020 599,553 4,457,424 5,056,977
Net movement in funds (89,974) 429,756 339,782
Transfers 329,216 (329,216)
At 31July 2021 838,795 4,557,964 5,396,759
Group as at 31July 2020 Unrestricted Unrestricted
funds: funds: Other
Designated charitable Total
funds funds funds
E
At 1 August 2019 425,620 4,801,175 5,226,795
Net movement in funds (108,865) (60,953) (169,818)
Transfers 282,798 (282,798)
At 31July 2020 599,553 4,457,424 5,056,977

Balance Gain on Balance
31 July Sale of 31July
2020 Income Expenditure Transfers Fixed 2021
Assets
E
Unrestricted funds
Designated funds:
Major works
Dispersed
reserve		 reserve
Houses		 439,553
160000
599,553		 (89,974)
(89,974)		 289,216
40000
329,216		 638,795
~200 000
838,795
Undesignated funds:
Other unrestricted funds 4,457,424 12,970,761 (12,798,827) (329,216) 257,822 4,557,964
Total unrestricted funds 5,056,977 12,970,761 (12,888,801) 257.822 5,396,759
Restricted funds
Housing
Hubs and		 Code
ofStandards:
Bradford 25,000 (25,000)
Nottingham 69,100 (69,100)
Sponsorship 18,000 (18,000)
Total restricted funds 112,100 (112,100)
Total funds 5,056,977 13,082,861 (13,000,901) 257,822 5,396,759
As at 31July 2020 Balance Balance
31 July 31 July
2019 Income Expenditure
Transfers		 2020
E E E E E
Unrestricted funds
Designated funds:
Major works
Dispersed		 reserve
Houses reserve		 305,620
120000
425,620		 (108.865)
(108,865)		 242,798
40000
282,798		 439,553
~160000
599,553
Undesignated
funds:
Other unrestricted funds 4,801,175 11,558,858 (11,619,811) (282,798) 4,457,424
Total unrestricted funds 5,226,795 11,558,858 (11,728,676) 5,056,977
Restricted funds
Housing
Hubs and		 Code of
Standards:
Bradford 25,000 (25.000)
Nottingham 69,100 (69,100)
Sponsorship 18,000 (18,000)
Total restricted funds 112,100 (112,100)
Total funds 5,226,795 11,670,958 (11,840,776) 5,056,977

2021 2020
E E
Unipol had contracted
commitments		 at 31st July for future 152,139
capital projects totalling
LEASE COMMITMENTS
The Charity has operating lease commitments due over the lease term as follows:
2021 2020
E E
Amount due within one year 5,807,103 3.408.346
Amount due between
one		 and five years 25,335,804 13,303,448
Amount due after more than five years 93,099,912 11.664.923
124,243,819 28.376.717

F
Rent Rebate 496,750
Tenants released
early from contract		 164,254
Loss of Rental Income 661,004
Lease cost reductions (152,100)
Additional
Support Costs		 19,499
Property Related Costs 39,042
Net reduction
in costs		 93559
Cost to the Charity 567,445