2022-03-31-accounts - Thrive Social Housing

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			Page
Report ofthe	Trustees	and Strategic Report	3-16
Statement ofTrustees'		responsibilities for the Financial Statements	17
Independent	Auditors'	report	18-21
Consolidated	Statement	of Financial Activities	22
Consolidated	and Charity Balance sheets		23
Consolidated	Statement	ofcash flows	24 - 25
Notes to the Consolidated Financial Statements			26-38

	Risk				Mitigation and management
Death of residents		and	service		Business processes and practices and staff training in place including
users					SUI policy to manage clients;
Organisational	financial				Detailed and ongoing operational and financial monitoring by the
performance	and	cash	flow		Board and Senior Management Team offinancial position and project
impact					performance on community and housing projects. Focus on
					occupancy levels to ensure full cost recovery.
					Implementation ofthe new Workforce Development Program
Recruitment	and	maintaining			including promoting the benefits of working for EFas an being
an appropriately trained				and	employer of choice in the sector, on-Boarding and a sound Well Being
developed workforce					Offer including being less prescriptive about experience in this sector
					and looking at transferable skills from other sectors.
The need for diversification	growth and				The Strategic review considers expansion into other areas such as families and concerned others and expanding opportunities with
					social investors; ensuring current business is viable and delivering
					outcomes effectively to underpin growth.
Impact measurement and quality ofservice delivery					Ongoing development ofour impact measurement using both internal and externalcase management systems to ensure we can report reliably on the impact ofthe group's service delivery.

Trustee	Role
David Royce	Chair	(appointed	17	December 2020)
Mare Giraudon	Trustee	(appointed	25	March 2021)
Janice Horsman	Trustee	(appointed	25	March 2021)
Ray Jenkins	Trustee	(appointed	17	December 2020; resigned 25 March 2021)
Chris Hill	Trustee	(appointed	17	December 2020; resigned 25 March 2021)
Executives ofEmerging Futures CIC:
Executive	Role
Ray Jenkins	Chief Executive
Hayden Duncan	Managing	Director
Chris Hill	Finance Director
Nahim Yakub	National	Housing and Property		Lead

									Group
									Tatel
						if»restricted	Restricted		Funds
						Funds	Funds	I'	2022
							5		6
Interne end endawments			fram:
f7onatfons and legacies
i ave s ttl'Ie I'Its
Charitable aciivities:
Healtfl and social	rme'		services
Other income
Total lncalrle									7,656,080
gxpenegiture an".
gllmitable activities.	"
Health and social	caro		services			6,956,974	96,610		7,053,584
Tatel expenditure						6,956,974	96,620		7,053„584
Net income						602,496			602,496
Tox poyebfe									(2,232f
Trailsfeis between		funds
Net Incoming mao»ress			before ether recagnised	gains/(l	ossa sf	600,365
Net movement in funds						600,365
Reconcilietian af funds
Iotsf funds brought	forward
Total funds serried farwerd						600,365

					Group	Charity
				Notes	2022	2022
						f
Fixed assets
intangible assets					3,944
Tangible assets					132,829	132,829
						132,829
Current assets
Debtors					806,285	51,329
Cash at bank and in		hand			1„017,722	289,282
					1,824'007	340,611
Creditors: amounts		failing due
within one	year			10	(1,049,415)	(8,255)
Net current	assets				774,592	332,356
Creditors: amounts		falling due
after more	than one year				(311,000)	(311,000)
Net assets					Q$,365	1~185
Funds
Unrestricted				12
Restri cted				13
					600,365	154,185
Aseparate	Statement ofFinancial Activities			is not presented forthe Charity itself as it has taken
advantage	ofthe exemptions		afforded by section 408ofthe Companies		Act 2006.

					Group	Charity
				Notes	2022	2022
						t
Cash flows from opemting	activities:
Net cash provided by operating activities					10,933	111.111
Cash flows from investing	activities:
Dividends, interest and rents from investments
Cash Qn acqufsltlon of subsdiary
Purchase of intangible fixed assets
Purchase of tangible fixed	assets				(132,829)	(132,829)
Net cash used by investing	activities				695,789	(132,829)
Cash flows from financing	activities:
New loans in year					311,000
Repayments of borrowing
Net cash used by financing	activities
Change in cash and cash equivalents		in the	period
Cash and cash equivalents	at the beginning		ofthe period
Cash and cash equivalents	at the end	ofthe	year

					Group	Charity
					2022	Z022
Reconciliation ofnet	cash flow to movement		in net debt		F.
Increase/(decrease)	ln cash in the yeal				1„017,722	289,28Z
(increase)/Decrease	in net	debt
Cash and cash equivalents		at the beginning	ofthe period
Cash and cash equivalents		atthe end ofthe	period			289,282
					Group
Reconciliation ofnet	income to				2022
net cash inflow from	operating activities:				f
Net income for the year					16,525
Acquisition of subsidiary
Dividends, interest and rents from investments					(41)
Amortisation charges					6,408
Profit/(loss) on fixed	asset	disposal
Increase in debtors					(222,160)	(51,329)
increase in creditors					210,201
Net cash pmvided by operating activities					19,933	111*111
				At 17		At 31st
				December	Cash	March
Analysis of changes in net		debt		2M0	Flow	2022
				F
Cash at bank and in hand					1,017,722	1p017,722
Bank and other loans					(31],000)	(311,000)
					706,722	706,722

3Analysis ofincome from generated	funds			Group
			Restricted	Total
			Funds	2022
			6
			3,307	3,307
hsvestrnent Income
Interest on UKcash deposits
Incoming resources from charitable	activities
Contract income				3,008,724
Grants and donations				93,303
Othe' income		238,578		238 578
Rent receivable		3,703,287		3,703,287
		6,950,589		7,043,892
Otherlncome.
Otherincome				608,840
Yotal income			96,6M	7,656,080

Emerging Futures CIC(s	ee note 195ubsi diary company).
		6roup
		2022
Net incoming resources	is stated after charging.
Audt tor sremuneration:
Audit services		17„116
Non-audit services		2,489
Operating lease rentals:
Plant and machinery
Land and buildings
Depreciation and arnortisation

4Analysis ofresources expended	4Analysis ofresources expended	4Analysis ofresources expended				Isestrl cted	Isestrl cted	Total
						Funds		2022
								f
I osf of charitable adivilies,
Payroll costs								4,136,006
Non-payroll costs								2,90,978
Total cost of charitable	activiiies							7,053,584
Tat@I Expenditure
									Gcoup
									Total
Analysis ofresources expended					Staff costs	ftousing costs		Other	2022
					f		f	f	f
Provision of Colnfnunity		Guntrads			1,441,1.93			162,406	1li93 SII9
Provisie n AfTransition	II	Ilousing			7,/0/„76"a	/, Affg, 939		3/S/I/4	4,616,8/8
Supporl costs					453,766			289,34'll	/43, 1(//
					4:,097,724	2„088„939		866,921
9Staff costs, Trustee remuneration			and	expenses,	and the cost ofIfey	management	personnel		Group
									Total
									2022
Wages and salary costs									3,637,174
Sot fal security costs									301,640
Tf'al AIAg Costs									61,4/3
gael'ultfnent and general	payl'oil costs								26,336
PCAsion costs fof' defiAecl	conti'lbution			pe nsfon sche Ale					/1,2$)
									4,097,729

half ofth	ese employees.
			Group
Employee	numbers:		2822
			Number
			167
Average	nurnbet of full time equivalents		159
Average	number offull time equivalents	split between:
Direct project staff
Operational support staff
Central	support staff

7	intangible fixed assets	ITSoftware
		costs
	GroUp
	Cost
	On acquisition ofSubsidiary	19,224
		19,224
	Amortisation and impairment
	On acquisition ofSubsidiary
	Amori. isation charged for the year
	Carrying arnclUAt
	At31March 2022

							Charity
							2022
9Debtors							f
Amounts	falling	due within			one year
Trade debtors						421,717
Gther debtors						384,568	3,570
Amounts	owed	by	5ubsidiary		company		47,759
							Charity
							2022
10Creditors:	amounts		falling due within one year
Trade creditors						105,633
Defe rred	income					662,953
Taxation	and social		security			77,229
Other creditors						203,600
						1,049,415
Movements in		deferred		income
At 1April	2021					478,286
Released	in the	year				I478,286)
Deferred						662,953
At 31March 2022

R THE PERIOD	ENDED 31MARCH 2022
		Group	Charity
		2022	2022
11Creditors: amounts	falling due after more than one year	g	g
Secured loans		311,000	311000
			311~000

				Group
				2022
12Unrestricted funds
At 1April 2021
Retained surplus/(deficit)		for	the year
Transfers from /(to)	restricted		funds
At 31March 202Z
					Charity
					2022
13Restricted funds					E
At 1April 2021
Inconldng resources
Resources expended
Transfers from/(to)	Restricted		funds

Unrestricted funds
At 1April 2021
Retained surplus/(deficit)		for	the year
Transfers from /(to)	restricted		funds
At 31March 202Z

F	OR TH	E	PERIOD E	NDED 31	MARCH 202	2
14	Analysis	of	net assets between	funds			Creditors:
					intangib Ie		afAouAts
					and tangible		fatling due
					fixed		after more	Total
					assets		than one year	2022
					f.			f.
	Linrestricted		funds		136,773		(311,0')	600,365
	Restricted	funds
	Total						(311,000)
	Analysis of		net assets between	funds	intangible		BFAouAts
					and taAgdsle		falling due
					fixed	ittet curreAt	after more	Total
					assets	esse'ts	than one year	2022
							6
	LInrestricted		funds				(311,000)	154„189
	Restricted	funds
	Total

				Land and
				buil dlngs	Other
				Group	Group
				2022	2022
				6
Gross obligations		repayable	on leases
expiring	within one year			1,M7,346	33„991
expiring	between two and		five years	629,797	25,221
expiring	in more	than five	years	106„643
				1,743,786

intangible	fixed assets	10,352
Debtors		584,125
Cash at bank		828,577
Creditors		(839,214I
Net assets	acquired atacquisition	583,840

			25,03,2023.to
			31.03.2022
Profit and Loss Account
Turnover			7,046,943
Cost of sales			(6,237,013)
Gross profit			809,930
Administrative expenses			(755,661)
Other operating	income
Operating profit			54,269
Investment income			41
Profit before taxation			54,310
Tax on profit			l2,131)
Retained earnings		in period	52,179
			31.03.2022
Balan«e Sheet
intangible fixed	assets		3,944
Itiet current assets			442,235
Net assets			446,179
Reserves			446,179

Iri:1 F211VE SOCIAL HOUSING Registered office.. 6 First Avenue, Worthing, West Sussex, BN14 9NH Company Registration No.13088737 (England and Wales) Registered Charity Number No.1193172 (England and Wales)