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2022-03-31-accounts

Contents Page
Legal and Administrative Information 1-2
Report of the Board of Directors 3- 10
Board of Directors'
Annual
Review		 11 —13
Independent
Auditor's		 Report 14 —16
Statement
ofComprehensive
Income		 17
Statement
of Changes		 in Reserves 18
Statement
of Financial		 Position 19
Cashf low Statement 20
Notes to Accounts 21 —33

2022/21 2021/20
Development of New Properties (THP) 1,309,060
Newly
build		 properties acquired (THP)
Works to Existing (THP) 21,575 9,041
Divided
by:
Housing
Properties		 at net book value 10,177,538 9,183,526
Outcome
13O/o Oo/0

en acquired
or developed
in the
its owned at 31 March 2022.		 y ear as a pro portio n
oft		 otal social ho using
units and non-s		 ocial
housing
2022/21 2021/20
a.
Social Housing
Units
Total Social Housing
Units Developed		 or Newly Built Units
Acquired
In-Year
Divided
by Total Social Housing		 Units (inc. Shared Ownership) 194 194
Outcome 0~/0 00/o
b.
Non-Social
Housing
Units
Total Non-Social
Units Developed		 or Newly Built Units Acquired
In-Year (Owned). (Total non-social rental housing units owned,
non-social
leasehold
units owned,		 new outright sale units
developed
or acquired).
Divided
by Total and Non-Social		 Housing Units Owned
(Period
End). (Total social housing
units		 owned, total non-social rental
housing
units owned,
social leasehold		 units owned, non-social
leasehold
units owned
(Period end))
Outcome
00/o 00/0

debt finan ce.
2022/21 2021/20
Total of:
Short-Term Loans 18,981 41,005
Long-Term Loans 2,049,220 1,529,573
Less Cash and Cash Equivalents (398,819) (281,881)
Amounts
Owed to		 Group Undertakings
Finance Lease Obligations
1,669,382 1,288,697
Divided by:
Housing
Properties		 at net book value 10,177,538 9,183,526
Outcome
160/0 140/0

Metric 4 —Earnings Before Interest,
(EBITDA MRZ) Interest Cover
~/0		 Metric 4 —Earnings Before Interest,
(EBITDA MRZ) Interest Cover
~/0		 Metric 4 —Earnings Before Interest,
(EBITDA MRZ) Interest Cover
~/0		 Tax , De preciation,
 preciation,
 Amortis Amortis ation, Major Repairs In cluded
The EBITDA MRI interest cover measure is a key indicator for liquidity and investment
capacity.		 It seeks to
measure
the level ofsurplus
that a registered		 provider generates compared to interest
payable.
2022/21 2021/20
Operating
Surplus
/ (Deficit)		 (Overall) 8,517 150,838
Less Gain / (loss) on disposal of fixed assets (housing properties)
Less Amortised
Government		 grant (259,081) (266,235)
Plus Interest
receivable		 69 33
Less Capitalised
major repairs expenditure		 for period
Plus Total depreciation
charge for period		 370,240 370,796
119,745 255,432
Divided by:
Interest Capitalised
Plus Interest
payable
and financing		 costs 50,573 51,773
Outcome
2370/0 493O/0
Metric 5 —Headline Social Housing Cost Per Unit
2022/21 2021/20
Total of:
Management
and Staffing Costs		 1,060,710 1,084,446
Establishment
Running
Costs		 228,669 213,078
Routine
Maintenance
Costs		 79,716 119,744
Capitalised
Major Repairs Expenditure		 for Period 21,575 9,041
Other Social Housing
Letting		 Costs 143,756 255,340
1,534,426 1,681,649
Divided by:
Total Social Housing
Units Owned		 and Managed at the Period End 194 194
Outcome 7,909 8,668

2022/21 2021/20
a. Social Housing Lettings 16.04% 17.77%
b. Overall -0.44% 5.44%

2022/21 2021/20
Operating
Surplus
/ (Deficit) inc. Gain / (Loss) on Disposal ofFixed Assets
(Housing
Properties)		 8,517 150,838
Divided by:
Total Assets less Current Liabilities 11,389,398 10,389,984
Outcome 0.07% 1.45%

Notes 2022 2021
Turnover 2a 2I769g531 2,772,016
Operating costs 2a (2,781,708) (2,629,358)
Operating (deficit)/surplus 2a/6 (12,177) 142,658
General
donations
received		 2a 10,987 15,409
Restricted donations
received		 2a 23,967 5,230
Investment income (gross) 2a 69 33
Pension
fund contribution		 14/16 (14,329) (12,492)
Surplus for the year before tax 8,517 150,838
Taxation
Surplus for the year &,517 150,838
STATEMENT OF CHANGES IN STATEMENT OF CHANGES IN RESERVES
General Revaluation Total
Reserves Reserve Reserves
Balance as at 1 April 2020 1,045,245 790,807 1,836,052
Surplus/(Deficit)
Comprehensive		 from Statement
Income		 of 150,838 150,838
Balance at 31 March 2021 1,196,083 790,807 1,986,890
STATEMENT OF CHANGES IN RESERVES
General Revaluation Total
Reserves Reserve Reserves
Balance as at 1 April 2021 1,196,083 790,807 1,986,890
(Deficit)/surplus
Comprehensive		 from Statement
Income		 of 8,517 8,517
Balance at 31 March 2022 1,204,600 790,807 1,995,407
2022 2021
f f
Notes
FIXED ASSETS
Tangible
Fixed Assets
Housing
Association		 assets 10,177,538 9,183,526
Non Housing
Investment		 Property 8 1,025,000 1,025,000
Property,
Plant
fk Equipment		 9 275,610 297,392
TOTAL FIXED ASSETS 1ls478r148 10,505,918
CURRENT ASSETS
Stock
Debtors due
in less		 than one year 10il 2,143
274,147		 1,698
183,203
Cash and cash equivalents 12 398,819 281,881
675,109 466,782
CREDITORS
Amounts
falling
due		 within one year 13 (763,859) (582,716)
NET CURRENT LIABILITIES (88,750) (115,934)
TOTAL ASSETS LESS CURRENT 11,389,398 10,389,984
LIABILITIES
CREDITORS
Amounts
falling
due		 after more than one year 14 (9,393,991) (8,403,094)
NET ASSETS 1,995,407 1,986,890
ACCUMULATED
RESERVES
General
Reserves		 1,204,600 1,196,083
Revaluation
Reserve		 790,807 790,807
TOTAL RESERVES 1,995,407 1,986,890
2022 2021
E
Cashflows
from operating		 activities
Surplus/(Deficit)
for the		 financial year 8,517 150,838
Adjustments
for:
Depreciation
of tangible		 assets 370,240 370,796
Amortisation
of Grants		 received (259,085) (266,235)
Interest
Received		 (69) (33)
Interest
Paid		 50,573 51,773
Decrease/(Increase) in trade and other debtors (90,944) 36,209
(Increase)
in Stocks		 (445) (704)
(Decrease)/Increase in trade and other creditors 179,328 (53,679)
Net Cashflow from operating activities 258,115 288,965
Cashflows
from investing		 activities Ldonations
Purchase of tangible assets (1,342,743) (23,373)
Proceeds from sale of fixed assets
Loans received 1,800,000 50,000
Loans repaid (1,302,377)
Grants received 754,447
Interest
received		 69 33
Interest
paid		 (50,573) (51,773)
Net Cash from investing activities (141,177) (25,113)
Net Increase/(Decrease) in cash and cash equivalents 116,938 263,852
Cash and Cash Equivalents at the beginning of the year 281,881 18,029
Cash and Cash Equivalents at the end of the year 398,819 281,881
Other
At 1 non-cash At 31
April 2021 Cash flows changes March 2022
Analysis of changes in
net debt
Cash and cash
equivalents
Cash 281,881 116,938 398,819
Borrowings
Due within
one year		 (41,005) 22,024 (18,981)
Due after one year (1,529,573) (519,647) (2,049,220)
Total net debt: (1,288,697) (380,685) (1,669,382)
20

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The remuneration paid to officers ofthe Association officers ofthe Association excluding pension contributions was:
2022 2021
E E
Emoluments
to		 officer 70,624 70,100
Expenses
reimbursed		 to the aforementioned officer
Other officers' expenses reimbursed

2022 2021
Operating surplus/deficit is stated after charging: E E
—Officers' remuneration 70,624 70,100
—Officers' employer
pension
contribution		 5,650 5,608
—Depreciation
of tangible		 fixed assets 370,240 370,796
-Amortisation
of grant received		 (259,081) (266,235)
- Audit fee 7,850 6,900
—Operating Lease Rentals (note 18) 3,074 2,053
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7. TANGIBLE FIXED ASSETS (continued)
Social Housing Assistance 2022 2021
E
Total accumulated
social housing
grant receivable at 31 March 8,941,905 8,187,458
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10. STOCKS 2022
E		 2021f
Sports centre and Cafe 585 875
Cleaning 1,558 823
2,143 1,698
11. DEBTORS 2022 2021
E E
Trade debtors 72,054 25,635
Residents'
rents		 owed 869
Prepayments 146,023 70,953
Other debtors
due within		 one year
- Accrued Income 56,070 80,144
—Other 5,602
274,147 183,203
12. CASH AND CASH EQUIVALENTS 2022f 2021
E
Bank deposit account 398,819 281,373
Cash
in hand		 508
398,819 281,881
13. CREDITORS: Amounts falling due within one year 2022 2021
E
Trade Creditors 238,275 87,906
Other Creditors 124,916 63,484
VAT lk PAYE/NIC payable 39,993 25,761
YMCA Pension
deficit		 30,961 30,881
Holiday
Accrual		 15,753 40,086
Sundry
creditors		 and accruals 37,797 34,512
Deferred
Capital		 Grant —HE Vittoria Walk 101,614 101,614
Deferred
Capital		 Grant —HE St Michael's 16,843 16,843
Deferred
Capital		 Grant —GCC St Michael's 8,677 8,677
Deferred
Capital		 Grant —HE Dulverton Court 20,734 20,734
Deferred
Capital		 Grant —Dulverton Court 9,757 9,757
Deferred
Capital		 Grant —HE james Smith Row 13,118 13,151
Deferred
Capital		 Grant —james Smith Row 10,059 10,084
Deferred
Capital		 Grant —GCC Potters Place 3,819 3,911
Deferred
Capital		 Grant —HE Potters Place 72,560 74,310
Arle Road Sports Centre Loan 8,333 8,333
Potters Place GCC Loan 25,573
Government
Loan		 10,648 7,099
763,857 582,716

CREDITORS: Amounts CREDITORS: Amounts falling due after after after one year 2022
f		 2021
E
YMCA England
Pension
Deficit		 141,827 167,845
Deferred
Capital		 Grant —HE Vittoria Walk 2,373,051 2,474,664
Deferred
Capital		 Grant —HE St Michael's 411,138 427,981
Deferred
Capital		 Grant —GCC St Michael's 211,799 220,475
Deferred
Capital		 Grant —HE Dulverton Ct/james Smith Row 599,964 620,698
Deferred
Capital		 Grant —CBC Dulverton Court 282,336 292,093
Deferred
Capital		 Grant —HE james Smith Row 386,345 399,463
Deferred
Capital		 Grant —CBCjames Smith Row 296,243 306,302
Deferred
Capital		 Grant —GCC Potters Place 94,381 98,200
Deferred
Capital		 Grant —HE Potters Place 1,793,240 1,865,800
Deferred
Capital		 Grant —St Michael's 754,447
Arle Road Sports Centre Loan 217,368 225,701
Potters Place GCC Loan 1,260,971
Charity
Bank Loan		 1,800,000
Government
loan		 31,852 42,901
9,393,991 8,403,094
YMCA England Pension
Due in 1-2Years 36,847 31,729
Due in 2-5 Years 96,259 95,187
Due in &5 Years 8,721 40,929
141,827 167,845
Deferred Capital Grant
Due in 1-2Years 257,181 266,236
Due in 2-5 Years 771,543 798,708
Due in &5Years 6,174,220 5,640,732
Arle Road Sports Centre Loan 217,368 225,701
Potters Place Loan 1,260,971
Government
Loan		 31,852 42,901
Charity
Loan		 1,800,000
9,252,164 8,235,249
TOTAL 9,393,991 8,403,094