2022-03-31-accounts - The Exaireo Trust Limited

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Reference	and Administrative Details
Trustees'	Report	2 to 4
Statement	ofTrustees' Responsibilities
Independent's Examiner's Report
Statement	of Comprehensive Income
Statement	ofChanges in Reserves
Statement	of Financial Position
Statement	ofCash Flows	10
Notes to the Financial Statements		11 to 26

Charity registration	Charity registration	number	1125402
Company	registration	number	6595498
Principal office			5The Coneries
			Loughborough
			Leicesters hire
			LE11 1DZ
Registered	office		Northgate House
			North Gate
			New Basford
			Nottingham
			NG7 7BQ
Trustees			Mr M Millman -Chairman
			Mr G Bradshaw-Mays
			Mrs BWallington
			Mr T Farrar —resigned	14	May 2021
			Mr J Harper
			Mrs C Brady
			Mr SScoggins —appointed		15 March 2022
Secretary			Mr C York
Bankers			CAF Bank Ltd
			25 Kings Hill Avenue
			Kings Hill
			West Mailing
			Kent
			ME194JQ
Accountants			RWB CA Ltd
			Northgate House
			North Gate
			New Basford
			Notting ham
			NG7 7BQ

	Note	2022	2021f
Turnover Operating Expenditure Other Income	3 3 3	798,441 (1,015,586) 178,761	748,474 (774,896) 164,966
Operating Surplus		(38,384)	138,544
Profit on disposal offixed assets Interest receivable Interest and financing costs	3	~8,599	~9,745
Surplus/(Deficit) before tax		(46,983)	128,799
Taxation
Total comprehensive income for the year		(46,983)	128,799

		Unrestricted
		Income &
		Expenditure	Restricted
		Resewe	Reserve	Total
			F
Balance as at 1 April	2020	200,991	309	201,300
Total comprehensive	income for the year	128,799		128,799
Balance as at 31 March 2021		329,790	309	330,099
Total comprehensive	income for the year	47,762	779	~46,963
Balance as at 31 March 2022
		282,028	1,088	283,116

						2022	2021
							F
Net cash generated from		operating		activities		(26,502)	130,057
Cash flow from investing Purchase oftangible fixed		activities assets				(20,737)	(3,511)
Sale oftangible	fixed assets
						(20,737)	(3,511)
Cash flow from	financing		activities
Interest paid New loans Repayments of	borrowings					(8,599) (1,500) 1,200 ~3,702 (12,601)	(9,745) 56,357 (66,102)
Net change in	cash and	cash equivalents				(59,840)	60,444
Cash and cash	equivalents		at beginning		ofthe year	157,107	96,663
Cash and cash	equivalents		at end	ofthe	year	97,267	157,107

				2022
			Cost of	Operating	Operating
		Turnover	Sales	expenditure	(deficit)
			F		F
Social housing	lettings	798,441	(250,746)	(624,613)	(76,918)
Other social housing
activities
Charges for support services
Other
Activities other	than social	178,761	(216)	(148,610)	29,935
housing
		977,202	(250,962)	(773,223)	(46,983)
				2021
			Cost of	Operating	Operating
		Turnover	Sales	Expenditure	surplus
			F	F	F
Social housing	lettings	748,474	(227,064)	(417,592)	103,818
Other social housing
activities
Charges for support services
Other
Activities other housing	than social	164,966	216	139,769	24,981
		913,440	(227,280)	(557,361)	128,799

Particulars ofturnover, cost ofsales, operating costs and operating	Particulars ofturnover, cost ofsales, operating costs and operating	surplus (continued)
Homeless needs supported housing		2022f	2021
Rent receivable net of identifiable	service charges	798,441	748,474
Donations
Grant
Turnover from social housing	lettings	798,441	748,474
Direct costs
Rent Rates and water Light, heat and power Repairs and maintenance Other direct costs		132,884 24,566 45,035 31,587 16,674	149,021 16,158 37,540 13,459 10,886
		250,746	227,064
Other operating expenditure
Wages and salaries Staff NIC Staff pensions Trustee remuneration Trustee NIC Trustee pension Travelling Advertising Rent Rates and water Light, heat 8 power Insurance Other expenses Repairs & maintenance Telephone Office expenses Motor expenses Training Accountancy costs Independent examiners fees Legal and professional fees Depreciation ofhousing properties Loan and mortgage interest paid Other interest paid Bank fees		395,311 21,385 7,611 59,816 5,815 925 10,001 15,000 1,001 (1,316) 10,160 23,386 18,330 11,579 18,715 5,012 1,508 2,056 3,000 2,400 3,627 8,580 19 692	256,884 12,454 4,917 36,369 3,543 847 3,812 50 15,100 1,006 1,230 9,900 9,209 12,481 10,006 13,920 3,229 457 3,082 2,880 2,425 3,627 9,745 419
		624,693	417,592

Particulars ofturnover, cost ofsales, operating costs and operating	surplus (continued)
Activities other than social housing	2022f	2021 F
Donated goods and services Donation income Grants Other revenue	31,427 68,561 32,376 46,397	20,275 61,645 66,171 16,875
Turnover from other activities	178,761	164,966
Fundraising costs	216	216
Wages and salaries Staff NIC Staff pensions Depreciation ofother fixed assets	59,409 1,948 614 9,746	71,921 2,738 1,013 8,274
Profit on disposal of fixed asset Rent, rates and water Light, heat and power Personal support costs	42,835 3,779 30,279	42,718 2,716 10,389
	148,610	139,769

Operating surplus
The operating surplus/(deficit)	is arrived at after charging/(crediting)	2022f	2021
Depreciation of housing properties Depreciation oftangible fixed assets		3,627 9,746	3,627 8,274
Surplus on disposal tangible	fixed assets
Operating lease rentals Land and buildings		185,852	203,429

he average nu	mber of persons employed by the charity (including tr	ustees) during the ye	ar was:
		2022	2021
		No.	No.
Administration Housing, support and care		7 33	6 26
		40	32
The aggregate	payroll costs of these persons were as follows:
Wages and salaries Social security costs Other pension costs		514,536 29,148 9,150	365,174 18,735 6,777
		552,834	390,686

Tangible fixed assets	Social	Plant and
	Housing	machinery
	Properties	including
	for letting	motor
		vehicles
Cost As at 1 April 2021 Additions	256,345	49,161 20,737
Disposa Is
As at 31 March 2022	256,345	69,898
Depreciation As at 1 April 2021 Charge for the year	14,508 3,627	25,068 9,746
Disposals
As at 31 March 2022	18,135	34,814
Net book value
As at 31 March 2022	238,210	35,084
As at 1 April 2021	241,837	24,093
The number of units managed	by the charity at the start and end ofthe period were:

	The number o	f units manag	ed by the charity at the star	t and end ofthe period were:
				2022	2021
				No.	No.
	Homeless needs supported		housing	50	46
8.	Debtors			2022	2021f
	Trade debtors Other debtors Prepayments	and accrued	income	58,999 12,187 20,607	47,788 12,169 24,147
				91,793	84,104
	included within Trade debtors are:
	Rent and service charges			50,069	38,858
	Less provision	for bad debts
				50,069	38,858

Creditors: Amounts
	2022	2021
Bank and other loans Trade creditors Taxation and social security Other creditors Accruals and deferred income	3,700 3,869 8,468 1,837 12,816	3,300 1,032 5,668 1,386 13,006
	30,690	24,392

	Accruals and deferred income include the following	Accruals and deferred income include the following
	As at 01 April 2021 Resources deferred in the period Amounts released from previous	periods	3,143 779 ~3,143	10,526 3,143 ~10,526
	As at 31 March 2022		779	3,143
10.	Creditors: amounts falling due	after more than one year	2022	2021
			F	F
	Bank and other loans		148,548	152,650
	The bank loan is repayable as follows: Within one year Within one to two years Within two and five years Five years or more		3,700 3,700 11,100 133,748	3,300 3,300 9,900 139,450
			152,248	155,950

As at 31 M follows:	arch 2022 the charity has annual commitm	ents under non-cancellable opera	ting leases as
Operating	leases which expire:	Land and 2022	buildings 2021
		F
Within one Within two	year and five years	44,950 26,208	57,063 71,158
More than	five years
		71,158	128,221

Funds analysis		At 1 April	Incoming	Resources	At 31 March
General funds		2021	Resourcesf	Expended F	2022f
Unrestricted income fund		329,790	974,702	(1,022,464)	282,028
Total unrestricted	funds	329,790	974,702	(1,022,464)	282,028
Restricted funds
Residents fishing LCC Communities	club Fund	309	2,5 DO	~1,721	309 779
		309	2,500	(1,721)	1,088
		330,099	977,202	(1,024,185)	283,116

Cash flow from operating activities		2022f	2021f
Surplus for the year		(46,983)	128,799
Adjustments for non-cash items: Depreciation oftangible fixed assets (Increase) in trade &other debtors Increase/ (decrease) in trade &other creditors Adjustments for investing or financing activities:		13,373 (7,389) 5,898	11,901 (11,523) (8,865)
Net gain on sale offixed assets Interest payable		8,599	9,745
Net cash generated from operating	activities	(26,502)	130,057

Introduction
As part of the Value for Money Standard: The Regulator regulatory metrics as a tool to keep a consistent measure of	of Social Housing Value for Money	has adopted a series of (VFM) across all providers.
Metric to Measure		Outcome
Reinvestment% (due to the nature ofthe project we		NIA
have not developed new stock during this financial year)
New Supply Delivered %(due to the nature ofthe project we have not developed new stock during this		NIA
financial year)
Gearing (Housing Properties at cost)		594%
Earnings before interest, tax, depreciation, amortisation,		(39086)%
major repairs included Interest Cover %
Headline social housing cost per unit		F17,436
Operating Margin % - social housing only		(8.1)%
Operating Margin % -overall		(4.8)%
Return on capital employed		(10 9)o/