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|||||Page|
|---|---|---|---|---|
|Strategic Report||||1 —9|
|Statement|of Trustees|||10|
|Independent|auditors|report|||
|Statement|of Comprehensive||Income|14|
|Balance Sheet||||15|
|Statement|in changes|in reserves||16|
|Statement|of Cash flows||||
|Notes to Financial Statements|||||
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|Metric|||||Result|VfM Measure|VfM Measure|||
|---|---|---|---|---|---|---|---|---|---|
|Metric|1 -|Reinvestment|||Q 14'/|Efficienc||||
|Metric|2a|—New||Su
I
Social|0.00%|Effectiveness||||
|Metric|2b|—New||Su
I
Non-Social|0.00%|Effectiveness||||
|Metric|3 -|Gearin|||56 4Q'/|Efficienc||||
|Metric|4 —EBITDA MRI Interest Rate Cover||||118.42%|Efficienc||||
|Metric|5 —Headline Social Housin
Cost
er Unit||||P3,208|Econom||||
|Metric|6a|—0|eratin
Mar
in
SHL||38.60%|Efficienc||||
|Metric|6b|—O|eratin
Mar
in
Overall||3323%|Efficienc||||
|Metric|7 —Return|||on Ca
ital Em
lo ed
ROCE|2.00%|Efficienc||||
|Performance|||Indicators|||||||
|Service Area||||Performance
Indicator|Year End||Year|End|Target|
||||||2022/23 Tar et||2022/23 Actual||Achieved|
|Anti-Social||||%of ASBcases responded
to 8||||||
|Behaviour
Managing||and||investigations
begun
in timescale
(24 hrs —high priority, 5 working|92%|||75%||
|Tenancies||||da s —other cases||||||
|Asset||||Energy Efficiency: Average SAP
ratin
of dwellin
s||77||77||
|||||%of emergency
(24 hrs), urgent||||||
|Home|Repairs|||(3days) and routine (20days)||94%||74.97%||
|||||re airs corn
leted within timescale||||||
|||||Keelman
Homes Rent collected||||||
|||||from current tenants as a%of rent||||||
|Rent||||owed||98%||102.33%||
|||||(excluding
arrears brought||||||
|||||f0rwal d||||||
|Rent||||Rent arrears of current tenants as
a% of the rent roll due||4%||5.17%||
|Voids||||Rent lost through
empty properties
as a io of rent due||1 0/||326%||
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|Charity Reference Number|Charity Reference Number|1133321|||
|---|---|---|---|---|
|Company|Reference Number|06972673|||
|Registered|Provider Number|4647|||
|Registered|Address|Offices 19-20|||
|||Gateshead
International||Business Centre|
|||Mulgrave Terrace|||
|||Gateshead|||
|||NE8 1AN|||
|Directors||Stuart Green —Resigned||02/02/2023|
|||Calum Willis —Resigned||27/09/2022|
|||Jennifer
Elliot —Resigned||12/05/2023|
|||John Adams|||
|||Alistair Wylie|||
|||Joanne Giles|||
|||Tom Winter|||
|||Scott Robinson|||
|||Iftekar Alom|||
|Secretary||Anne-Marie
Pearce|||
|Auditor||Haines Watts|||
|||17Queens Lane|||
|||Newcastle
upon Tyne|||
|||NE1 1RN|||
|Banker||The Co-operative
Bank
1"Floor, Norfolk House|||
|||90Grey Street|||
|||Newcastle
upon Tyne|||
|||NE1 1HH|||
|Solicitor||Weightmans
LLP|||
|||1 StJames' Gate|||
|||Newcastle
upon Tyne|||
|||NE1 4AD|||
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||||2023|2022|
|---|---|---|---|---|
|||Notes|f000|f000|
|Turnover|||1,778|2,360|
|Operating
costs|||(1,231 )|(1,671 )|
|Operating
surplus|||547|689|
|Interest payable|||(673)|(659)|
|(Deficit)/Surplus|before tax||(126)|30|
||||14|(1)|
|(Deficit)/Surplus|for|the year|(112)|29|
|Total comprehensi|ve|income for the year|(112)|29|
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||||Notes|2023|2022|
|---|---|---|---|---|---|
|||||f000|OOOO|
|Fixed assets||||||
|Tangible assets||||27,352|27,840|
|Current assets||||||
|Debtors||||641|348|
|Cash at bank and in||hand||573|1,057|
|||||1,214|1,405|
|Liabilities||||||
|Creditors: amounts|falling due|||||
|within one year|||10|( 1,258 )|( 1,291)|
|Net current assets/||(liabilities)||(44)|114|
|Creditors: amounts|falling due after|||||
|one year||||( 27,217 )|( 27,751 )|
|Net assets||||91|203|
|Reserves||||||
|Income 8 Expenditure||Reserve||91|203|
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||Income|&|
|---|---|---|
||Expenditure|Reserve|
||f000||
|Balance at 1 April 2021|174||
|Surplus for year|||
|Balance at 31 MarcH 2022|203||
|Balance at 1 April 2022|203||
|Deficit for year|( 112 )||
|Balance at 31 March 2023|91||
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|Statement
of Cashflowe
As at 31 March 2023|||||||
|---|---|---|---|---|---|---|
|||||Notes|2023|2022|
||||||f000|FOOO|
|Cash flows from operating|activities||||||
|Net cash (usedin)lprovided|by operating||activities||( 139 )|494|
|Cash flows from investing|activities||||||
|Purchase
of tangible fixed assets|||||( 42 )|( 2,062 )|
|Proceeds from disposal
of tangible fixed||assets|||55||
|Proceeds from the receipt of government||grants|||11|646|
|Net cash provided byinvesting
activities|||||24|( 1,416 )|
|Cash flows from financing|activities||||||
|Repayment
of borrowings|||||(369)|(347)|
|Proceeds from new loan||||||1,550|
|Net cash used in financing|activities||||( 369 )|1,203|
|Change
in cash and cash|equivalents||||(484)|281|
|Cash and cash equivalents|at the beginning||of the year||1,057|776|
|Cash and cash equivalents|at the end|of|the year||573|1,057|
|Breakdown
ofcash and cash equivalents|||||||
|Cash at bank and in hand|||||573|1,057|
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|Roof||50years|
|---|---|---|
|Heating systems||40 years|
|Electrics||30years|
|Windows|and external doors|25 years|
|Structure||100years|
|Bathroom||30years|
|Kitchen||20 years|
|Gas boiler||15years|
|Land||Not depreciated|
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|2.|Turnover|||||||||
|---|---|---|---|---|---|---|---|---|---|
|||||||||2023|2022|
|||||||||OOOO|f000|
||Rental and|service charge|||income receivable|||1,557|1,435|
||Management||fee income||||||95|
||Amortisation||of government||grants|||127|127|
||Shared Ownership
Sales Income|||||||94|703|
|||||||||1,778|2,360|
|3.|Operating|surplus||||||||
||The operating||surplus|is arrived||at after charging/(crediting):||||
|||||||||2023|2022|
|||||||||f000|f000|
||Depreciation||of owned|tangible||fixed assets||465|476|
||Amortisation||of government||grants and donated||land|( 127 )|( 127 )|
||Auditor's
remuneration|||||||||
||- audit|||||||15|13|
||- other services relating|||to|taxation|||2|2|
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|||||2023|2022|
|---|---|---|---|---|---|
|||||f000|OOOO|
|Loans|from|Gateshead|Council|673|659|
|7.|Taxation|||
|---|---|---|---|
||Total tax expense recognised|in the income and expenditure|account|
||||||2023|2022|
|---|---|---|---|---|---|---|
||||||f000|OOOO|
||Current tax||||(14)||
|7.1.|Reconciliation|ofthe|effective tax rate||||
||||||2023|2022|
||||||f000|P.OOO|
||(Deficit)/Surplus||||(112)|586|
||Total tax (credit)/ expense||||(14)|1|
||(Deficit)/Surplus|before|tax||(126)|587|
||Tax using the|UK corporation||tax rate of 19%(2021:19to)|(24)|112|
||Tax exempt revenues||||||
||Non-deductible|expenses|||10|( 111 )|
||Total (credit)/expense||included|in the income statement|(14)||
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|8|Tangible fixed assets|||||||
|---|---|---|---|---|---|---|---|
|||||Shared|Housing|||
|||||Ownership|Properties|||
|||Housing||Housing|Under|Computer||
|||Properties|Land|Properties|Construction|Equipment|Total|
|||f000|f000|f000|f000|f000|f000|
||Cost|||||||
||At 1 April 2022|25,038|3,255|1,315|1,024||30,632|
||Additions|39||||3|42|
||Transfers|976|||(976)|||
||Disposals|(79)||(62)|||(141 )|
||At 31 March 2023|25,974|3,255|1,253|48|3|30,533|
||Depreciation|||||||
||At 1 April 2022|2,723||69|||2,792|
||Charge for year|455||12||1|468|
||Eliminated
on disposal|(73)||(6)|||(79)|
||At 31 March 2023|3,105||75||1|3 181|
||Net book value|||||||
||At 31 March 2023|22,869|3,255|1,178||2|27,352|
||At 31 March 2022|22,315|3,255|1,246|1,024||27,840|
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|Debtors||||
|---|---|---|---|
|||2023|2022|
|||f000|OOOO|
|Trade debtors||243|228|
|Prepayments|and accrued income|384|120|
|Corporation|tax|14||
|||641|348|
|10.|Creditors: Amounts|Creditors: Amounts|falling due within one year|||
|---|---|---|---|---|---|
|||||2023|2022|
|||||f000|OOOO|
||Trade Creditors|||30|4|
||Accruals|||684|790|
||Loans from|Gateshead|Council|369|369|
||Corporation|tax|||1|
||Recycled capital grant||fund|||
||Government|grants||175|127|
|||||1,258|1,291|
|11.|Creditors: Amounts||falling due after one year|||
|||||2023|2022|
|||||OOOO|OOOO|
||Loans from|Gateshead|Council|15,583|15,953|
||Government|grants||11,634|11,798|
|||||27,217|27,751|
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||||2023|2022|
|---|---|---|---|---|
||||OOOO|f000|
|Assets measured|at|cost less impairment|||
|Trade debtors|||243|118|
|Liabilities measured||at amortised cost|||
|Loans from Gateshead||Council|15,952|16,322|
|Cash from operating||activities|||
||||2023|2022|
||||OOOO|f000|
|Deficit for the year|||(112)|29|
|Adjustment
for:|||||
|Depreciation
and amortisation|||468|470|
|Loss on disposal of|fixed assets||6||
|Interest payable
and|similar charges||673|659|
|Deferred government|grant||(127)|(127)|
|Taxation|||(14)|1|
||||894|1,032|
|Decrease/(increase)|in|trade and other debtors|(293)|21|
|Increase/(decrease)|in|trade and other creditors|(81 )|101|
|Interest paid|||( 673)|(659)|
|Tax paid|||14|(1)|
|Net cash from operating
activities|||(139)|494|
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