2022-07-31-accounts - Unipol Student Homes

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Contents
Legal and Administrative		Information
Trustees' Report
Statement of	Trustees'	Responsibilities	22
Independent	Auditor's	Report to the Members ofUnipol 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	2022	2021
			5	6
Income
Charitable activities		4	15,357,294	84,353	15,441,647	13,064,764
Other trading activities				18,000	18,000	18,000
Investments			655		655	97
Total Income			15,357,949	102,353	15,460,302	13,082,861
Expenditure
Charitable activities		7	15,339,743	102,353	15,442,096	13,000,901
Total Expenditure			15,339,743	102,353	15,442,096	13,000,901
Gain on disposal ofFixed	Asset	14	197,789		197,789	257,822
Net IDeflcit)/Surplus		10	215,995		215,995	339,782
Net Income to Designated	funds		162,024		182,024	239,242
Net Gain on disposal ofFixed Assets			197,789		197,789	257,822
Net Ex enditure to Other	Charltablefunds		143818		143818	157,282
NET MOVEMENT IN FUNDS			215,995		215,995	339,782
Total funds brought forward at 1August		21/22	5,396,759		5,396,759	5,056,977
Total funds carried forward	at 31July	21/22	5,612,754	-	5,612,754	5,396,759

				Note	2022	2021	2022	2021
					Group 6	Group 5	Charity 6	Charity 6
FIXEDASSETS
Tangible assets				14	14,026,624	14,178,255	14,026,624	14,178,255
Investment				15	-	-	1	1
					14,026,624	14,178,255	14,026,625	14,178,256
CURRENT ASSETS
Stock				16	5,677	415	5,577	415
Debtors				17	1,248,294	1,390,264	1,251,481	1,393,451
Cash at bank	and	in hand			224,713	675,808	224,713	675,808
					1,478,684	2,066,487	1,481,871	2,069,674
CREDITORS:	amounts		falling due within
one year				18	(4,805,870)	(5,860,694)	(4,805,870)	(5,860,694)
NET CURRENT LIABILITIES					(3,327,186)	(3,794,207)	(3,323,999)	(3,791,020)
TOTAL ASSETS LESS			CURRENT		10,699,438	10,384,048	10,702,626	10,387,236
LIABILITIES
CREDITORS:	amounts		falling due after	19	(5,086,684)	(4,987,289)	(5,086,684)	(4,987,289)
more than one year
					5612754	5396759	5615)942	5399947
FUNDS
Unrestricted funds:
Designated	funds			20/21/22	1„000,819	838,795	1,000,819	838,795
Other Charitable		funds		20/21/22	4,611,935	4,557,964	4,615,123	4,561,152
					5,612,754	5,396,759	5,615,942	5,399,947

					Note	2022 8	2021f
Net	cash inflow from operating activities				A	1,170,860	2,649,826
Returns on investments		and servicing		offinance	B	(189,005)	(209,637)
Capital expenditure					C	(1,118,700)	(1,148,347)
Net	cash inflow/(outflow)		before use offinancing			(136,845)	1,291,842
Management offinancing						(314,251)	(719,554)
Increase in cash						(451,096)	572,288
NOTES TO CASH FLOW		STATEMENT:
A.	RECONCILIATION	OF NET INCOMING RESOURCES TO NET CASH INFLOW FROM
	ACTIVITIES
						2022	2021
						6	F
	Incoming/(Outgoing)		resources for the year before			215,995	339,782
	unrealised gains
	Interest receivable					(655)	(97)
	Interest payable					200,860	206,833
	Depreciation charges					1,100,634	1,072,521
	Disposal offixed asset					169,697	250,680
	(Increase)/Decrease		in stock			(5,262)	1,623
	Decrease/(Increase)		in debtors			141,970	(39,643)
	(Decrease)/Increase		in creditors			(652,379)	818,127
	Net cash inflow from operating			activities		1,170,860	2,649,826
B.	RETURNS ON INVESTMENTS AND SERVICING OF FINANCE
						2022	2021
						6	5
	Interest received					655	97
	Interest paid					(189,660)	(209,734)
	Net cash oufflow on investments			and servicing offinance		(189,005)	(209,637)
C.	NET CAPITAL EXPENDITURE
						2022	2021
						6	F
	Purchase offixed assets					(1,118,700)	(1,148,347)
						(1,110,700)	(1,140,347)
D.	MANAGEMENT OF		FINANCING
						2022 6	2021f
	Increase/(Decrease)		in overdraft			144,593	(914,645)
	(Decrease)/Increase		in bank loans			(458,844)	195,091
	Net cash oufflow from financing					(314,251)	(710,554)

RECONCI	LIATION O	F NET CA	SH FLOW TO MOVE	MENT IN NET	DEBT
					2022	2021
					6	F
(Decrease)/Increase		in cash in the year			(451,096)	572,288
Cash inflow from financing					314,251	719,554
Movement	in debt in	the year			(136,845)	1,291,842
Net debt at 1 August					(5,446,578)	(6,738,420)
Net debt	at 31July				(5,583,423)	(5,446,578)
Analysis	ofnet debt
			1 August		Non-Cash	31July
			2021	Cash flow	Movement	2022
					5	6
Cash at bank and in hand			675,808	(451,095)		224,713
Decrease	in overdraft			(144,593)		(144,593)
Debt due	within one year		(1,641,173)	659,866		(981,307)
Debt due	after one year		(4,481,213)	(201,023)		(4,682,236)
			(5,446,578)	(136,845)		(5,583,423)

		Total	Total
		2022	2021
Income
Charitable activities		15,441,847	13,064,764
Other trading	activities	18,000	18,000
Investments		655	97
Total Income		15,460,302	13,082,861
Expenditure
Chaditable	activities	(15,442,098)	(13,000,901)
Total Expenditure		(15,442,096)	(13,000,901)
Net Income/(Expenditure)		18,206	81,960
Gain on disposal oftangible assets		197,789	257,822
NET MOVEMENT IN FUNDS		215,995	339,782
Total funds	brought forward at 1August	5,399,947	5,060,165
Total funds	carried forward at 31July	5,615,942	5,399,947
Represented	by:
Unrestricted	income funds	5,615,942	5,399,947
		5,615,942	5,399,947

	Unrestricted 6	Restricted 6	2022 8	Unrsstdicted E	Restdictedf	2021 6
Unipol Housing	13,924,917		13,924,917	11,680,094		11,680,094
Housing Hubs	430,030	40,000	470,030	350,491	55,000	405,491
Code of	106,658	44,353	151,011	95,372	39,100	134,472
Standards
National Code of	613,814		613,814	581,482		581,482
Standards
Property	254,887		254,887	246,112		246,112
Management Conference	~26988		36666	17113		17113
	15,357,294	84,353	15,441,647	12,970,664	94,100	13,064,764

ANALYSIS	OF EXPENDITURE	ON CHA	RITABLE AC	TIVITIES
				National
	Unipol	Housing	Code of	Code of	Property			2022
	Housingf	Hubsf	Standardsf	Standards f	Management f	Conference f		Totalf
Direct Costs	2,732,282	24,052	23,742	238,255	26,280		14,560	3.059.171
Repairs &	2,047,557				50		124	2,047,731
Refurbs
Staffing	$34,214	167,330	47,987	192,632	152,543		19,994	1,514,700
Lease &	5,682,476							5,682,476
Management
charges
Major Works	233,520							233,520
Loan interest	191,437	3,448	aaa	3,677	1,379		230	200,860
Depreciation	1,022,226							1,022,226
Support Governance	a64,aoa ~39515	374,927 ~12668	76,495 ~4586	172,649 ~25693	67,681 5232		33,997 3461	1,590,257 ~91155
				National
	Unipol	Housing	Cods of	Code of	Property			2021
	Housingf	Hubs 5	Standards f	Standards f	Management f	Conference f		Total f
Direct Costs	2,378,872	46,675	19,161	186,837	19,047		6,343	2,656,935
Repairs 8	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 &	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	208,833
Depreciation	947,875							947,875
Support	841,179	398,157	75,819	142,704	65,508		28,634	1,550,001
Governance	3976	12786	4520	25522	5354		2 471	90437
	~3L()20
Expenditure	on charitable activities was		f15,442,096	(2021:f13,000,901) of which			615,339,743
(2021:f12,888,801)was unrestricted and			6102,353(2021:f112,100)		was restricted.

					National	National
		Unipol	Housing	Code of	Code of		Property		2022
		Housingf	Hubsf	Standardsf	Standards	f	Management f	Conference f	Total f
Costs		(13,747,735)	(582,425)	(153,499)	(6321906)		(253,165)	(72,366)	(15,442,006)
Rent		13,059,783					(1,525)		13,658,258
Covid Net		420							420
Rebate
Subventions	&		227,244	44,353					271,597
College Fees
Fees			148,598	108,858	561,285		20,914	26,371	861,824
Membership			32,533					617	33,150
Fees
Commission Sundry Income		264 714	63651		52525		231,832 ~3866		231,832 354 566
Net Cost
					National
		Unipol	Housing	Code of	Code of		Property		2021
		Housingf	Hubsf	Standardsf	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		(496,750)							(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							222,242		222,242
Sundry Income		237241	1 457		54668		3308		312674
Net Income

overnance costs and th	e comments	beneath for th	e basis ofapp	ortionment.
			2022			2021
	Support 6	Governance	Total	Supportf	Governance f	Total f
General Office Costs	377,183		377,183	239,096		239,096
IT Expenditure	283,034		283,034	357,787		357,787
Staff Costs	765,777	68,105	831,882	781,435	64,844	846,279
Depreciation	78,408		78,407	124,644		124,644
Other Finance Charges Audit	85,855	~25050	85,855 ~25 050	47,039	~25593	47,039 ~25593
Net Cost

NET INCOME/(EXPENDITURE) F	OR THE YEAR
This is stated after charging:		2022	2021
		E	F
Auditor's remuneration: audit ofthese financial statements		25,050	25,593
Interest payabls		200,860	206,833
Operating leases and management	agreements	5,774,826	4,309,564
Depreciation on tangible fixed assets		1,100,634	1,072,521
Directors' liability insurance		3,136	3,136
Interest receivable		(655)	(97)

STAFF	NUNIBERS AND COSTS
			2022	2021
			No	No
Average	number offull-time equivalent	employees	57	53
BREAKDOWN OF STAFF PER SECTION
Housing			35	33
Housing	Hubs &Code ofStandards		11	10
National	Code		5	5
Property	Management		5	4
Conferences and ANUK			1	1
TOTAL			57	53

Average number ofemployees	Average number ofemployees				81	72
BREAKDOWN OF STAFF PER SECTION
Housing					51	47
Housing Hub &Code	ofStandards				17	15
National Code					5	5
Property Management					7	4
Conferences and ANUK					1	1
TOTAL					81	72
					2022 E	2021f
Staff costs
Wages and salaries					1,818,848	1,802,003
Employer's National	Insurance				188,188	148,417
Employer's pension costs (see note			26)		238,888	228,493
Sub-total before administration			charge		2,324,828	2,178,913
Administration Charge					22,555	24,999
TOTAL					2,348,582	2,203,912
Employees receiving	remuneration	amounting		to more than 660,000	2022	2021
					No	No
660,000 - f69,999					1	1
f70,000 - 679,999						1
660,000 - f69,999						1
6120,000 - 6129,999						1
f140000 - 6149999					1

		2022f	2021f
Andrew	Welsh —Consultancy		6,720
Michael	Wilkinson —Travel expenses as a Board Member	385

Group an	d charity
			2022f	2021f
Included	in Unipol Housing	expenditure:
Bank and	other loans		200,860	206,833

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are given belo	w.
			2022 f	2021 f
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:
			2022 f	2021 f
Total assets
Total liabilities			(3,187)	(3,187)
			(3,187)	(3,187)
Represented	by:
Called up share capital
			(3,188)	(3,188)
			(3,187)	(3,187)

STOCKS
		Group			Charity
	2022 f		2021 f	2022		2021f
Furniture	5,877		415	5,877		415
	5,677		415	5,677		415

DEBTORS
					Group		Charity
				2022 E	2021	2022 f	2021 F
Owed from	subsidiary		undertaking			3,187	3,187
Rents receivable				40,304	557	40,304	557
Other debtors				325,486	749,604	325,486	749,604
Prepayments		and accrued income		882,504	640,103	882,504	640,103
				1,248,294	1,390,264	1,251,481	1,393,451
CREDITORS:		AMOUNTS FALLING DUE WITHIN ONE YEAR
					Group		Charity
				2022 E	2021f	2022 E	2021
Overdraft				144,593		144,593
Loans (see	nots 19)			981,307	1,641,173	981,307	1,641,173
Returnable	deposits			156,400	339,290	158,400	339,290
Trade creditors				953,509	1,695,537	953,509	1,695,537
Taxation and		social security costs		17,468	13,650	17,468	13,650
Other creditors				512,515	393,593	512,515	393,593
Accruals				1,353,177	836,580	1,353,177	636,560
Deferred income (see below)				886,901	940,871	686,901	940,871
				4,805,870	5,660,694	4,805,870	5,660,694
ANALYSIS	OF DEFERRED INCOME
					Group		Charity
				2022	2021	2022	2021
				E	E	E	E
Rental income				363,493	616,773	363,493	618,773
Contribution	from Landlords
towards capital works				101,040	102,084	101,040	102,084
Subventions,		fees and	funding
income				222,388	220,014	222,368	220,014
				686,901	940,871	686,901	940,871

			Group		Charity
		2022 f	2021 F	2022 E	2021
Bankloans		4,682,236	4,481,213	4,682,236	4,481,213
Deferred	Income	404,448	506,076	404,448	506,076
		5,086,684	4,987,289	5,086,684	4,987,289

ofthe leases in line with the rate	ofdepreciation
		Group and Charity
		2022	2021
Analysis ofloan repayments		Z	E
Bank loans and other loans
Within one year or on demand	(see note 18)	981,307	1,641,173
Between one and two years		885,899	787,280
Between two and five years		3,139,858	2,231,871
After five years		656,479	1,462,062
		5,663,543	6,122,386

ANALYSI	S OF GR	OUP ASSETSAND	LIABILITIES BET	WEEN FUNDS
			Unrestricted	funds
			Designated Undesignated		Total	Total
			funds f	funds F	2022 6	2021 F
Fixed assets				14,026,624	14,026,624	14,178,255
Current assets			1,000,819	477,503	1,478,684	2,066,487
Creditors:	amounts	falling due within		(4,805,870)	(4,805,870)	(5,860,694)
one year
Creditors:	amounts	falling due after		(5,086,684)	(5,086,684)	(4,987,289)
more than	one year
			1,000,819	4,611,935	5,612,754	5,396,759

STATEMENT	OF MOVEMENT ON RESE	RVES
Chadty as at	31July 2022	Unrestricted	Unrestricted
		funds:	funds: Other
		Designated	charitable	Total
		funds	funds	funds
		F	E	5
At 1 August 2021		838,795	4,561,152	5,399,947
Net movement	in funds	(233,520)	449,515	215,995
Transfers		395,544	(395,544)
At 31July 2022		1,000,819	4,615,123	5,615,942
Charity as at	31July 2021	Unrestricted	Unrestricted
		funds:	funds: Other
		Designated	charitable	Total
		funds 2	fundsf	funds E
At 1 August 2020		599,553	4,460,612	5,080,165
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
Group as at 31July 2022		Unrestricted	Unrestricted
		funds:	funds: Other
		Designated	charitable	Total
		funds	funds	funds
		2	E	5
At 1 August 2021		838,795	4,557,964	5,396,759
Net movement	in funds	(233,520)	449,515	215,995
Transfers		395,544	(395,544)
At 31July 2022		1,000,819	4,611,935	5,612,754
Group as at 31July 2021		Unrestricted	Unrestricted
		funds:	funds: Other
		Designated	charitable	Total
		funds	funds	funds
		E	F	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

				Balance				Gain on	Balance
				31 July				Sale of	31July
				2021	Income	Expenditure	Transfers	Fixed	2022
								Assets
					6		F	E	E
Unrestricted		funds
Designated	funds:
Major works Dispersed reserve	reserve Houses			638,795 ~200 000 838,795		(233,520) (233,520)	355,546 39998 395,544		760,821 ~239998 1,000,819
Undesignated		funds:
Other unrestricted			funds	4,557,964	15,357,949	(15,106,223)	(395,544)	197,789	4,611,935
Total unrestricted			funds	5,396,759	15,357,949	(15,339,743)		197789	5)612)754
Restricted funds
Housing Hubs		and	Code
ofStandards:
Bradford					25,000	(25,000)
Nottingham					59,353	(59,353)
Sponsorship					18,000	(18,000)
Total restricted		funds			102,353	(102,353)
Total funds				5,396,759	15,460,302	(15,442,096)		197,789	5,612,754
As at 31 July 2021
				Balance				Gain on	Balance
				31 July				Sale of	31July
				2020	Income	Expenditure	Transfers	Fixed	2021
								Assets
								F
Unrestricted		funds
Designated	funds:
Major works	reserve			439,553		(89,974)	289,216		638,795
Dispersed reserve	Houses			160000 599,553		(89,974)	40000 329,216		~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)
Notting ham					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

The Cha	rity	has operating lease commitments due over th	e lease term as follows:
			2022	2021
			6	F
Amount	due	within one year	6,601,373	5,807,103
Amount	due	between one and five years	27,271,930	25,336,804
Amount	dus	after more than five years	93,834,125	93,099,912
			127,797,428	124,243,819