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|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|
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|||||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|
##
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|||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|
##