2023-03-31-accounts

Company	Information
Report of	the Board (including Strategic Report)		2 to 9
Independent Auditor's Report			10to 13
Statement	ofComprehensive Income		14
Statement	of Financial Position		15
Statement	ofChanges in Reserves	and Equity	16
Statement	ofCash Flows		17
Notes to the Financial Statements			18to 31

Metric	Metric Title		TCUK Homes	TCUK Homes	TCUK Homes
No			2020/21	2021/22	2022Q3
	Reinvestment %		0%	0'/o	0'/o
2A	New supply delivered '/			39%	1%
	Social Housin Units
2B	New supply delivered %		0%	2o/o	-7%
	Non-Social Housin Units
	Gearin		47%	42%	47
	Earnings pre interest, tax,		133%	152%	166%
	depreciation, amortisation:
	major repairs induded
	interest cover
	Headline Social Housing		E8,043	K8,790	K8,857
	Cost er Unit
	Operating Margin (social		18%	6%	9'/o
	housin lettin s %
6B	0 eratin Mar in overall	%	19%	10%	11%
	Return on Ca ital Em lo ed			5%	5'/o

State 2023	ment	of Comprehensive Inc	ome for the Y	ear Ended 3	1 March
				2023	2022
			Note
Turnover				4,794,436	4,225,866
Operating expenses				(4,339,360)	(3,977,672)
Other operating		income		25,396	93,649
Operating surplus				480,472	341,843
Interest	payable	and similar expenses		(436,481	(300,185)
Surplus	before	tax		43,991	41,658
Taxation			10		(24,000)
Surplus	for the	financial year		43,991	17,658

Statement of	Financial Position as at 3	1 March	2023
			2023	2022
		Note		E
Fixed assets
Tangible assets			8,871,407	9,327,513
Current assets
Debtors		12	835,327	577,023
Cash at bank and in	hand		342,065	995,660
			1,177,392	1,572,683
Creditors: Amounts	falling due within one year	14	775,425	1,351,945
Net current assets			401,967	220,738
Total assets less current liabilities			9,273,374	9,548,251
Creditors: Amounts	falling due after more than one year	14	9,256,410	9,575,278
Net assets/(liabilities)			16,964	(27,027
Capital and reserves
Profit and loss account			16,964	(27,027
Total equity			16,964	27,027

31 March 202	3
		Profit and
		loss account	Total
		E
At 1 April 2021		(44,685)	(44,685)
Total comprehensive	income	17,658	17,658
At 31 March 2022
		Profit and
		loss account	Total
			E
At 1 April 2022		(27,027)	(27,027)
Total comprehensive	income	43,991	43,991
At 31 March 2023		16,964	16,964

Statement ofCash Flows fo	r the Year	Ended 3	1 March 202	3
		Note	2023f	2022f
Cash flows from operating activities
Surplus for the year			43,991	17,658
Adjustments to cash flows from non-cash	items
Social housing grant recognised in income			(113,179)	(156,734)
Depreciation and amortisation		6	355,298	329,642
Finance costs		7	436,481	300,185
Income tax expense		10		24,000
			722,591	514,751
Working capital adjustments
(Increase)/decrease in debtors		12	(258,304)	228,990
(Decrease)/increase in creditors		14	(575,694)	539,848
Cash generated from operations			(111,407)	1,283,589
Income taxes paid		10		57,109
Net cash flow from operating activities			(111,407)	1,226,480
Cash flows from investing activities
Acquisitions oftangible assets			(7,960)	(154,569)
Proceeds from sale oftangible assets			108,768
Net cash flows from investing activities			100,808	(154,569
Cash flows from financing activities
Interest paid			(436,481)	(300,185)
Payments to finance lease creditors			(142,515)	(31,117)
Proceeds/(repayments) from advance ofgovernment
grants			(64,000)	136,471
Net cash flows from financing activities			(642,996	194,831)
Net (decrease)/increase in cash and cash	equivalents		(653,595)	877,080
Cash and cash equivalents at 1 April			995,660	118,580
Cash and cash equivalents at 31 March			342,065	995,660

					Operating
				Operating	surplus
			Turnover	costs	2022
			F		F
Social	housing	lettings	4,225,866	(3,977,672)	248,194
Other			93,649		93,649
			4,319,515	(3,977,672)	341,843

4 Analysis of	4 Analysis of	Turnover,	Turnover,	Operating	Operating	Costs and Operating Surplus for the year	Costs and Operating Surplus for the year
						General
						needs
						housing	2023	2022
						F	E	F
Turnover
Rent receivable		net of	identifiable		service
charges Amortised	government		grants			4,679,757 113,179	4,679,757 113,179	4,067,434 156,734
Other grants						1,500	1,500	1,698
Total turnover						4,794,436	4,794,436	4,225,866
Voids						708,553	(708,553	(741,903)

4 Analysis of	Tu	rnov	er, Operating	Costs and	Operating Surplus	for the year (con	tinued)
					General
					needs
					housing		2022
Operating Expenditure
Management charges payable					152,082	152,082	297,924
Routine maintenance					491,104	491,104	306,586
Bad debts					239,646	239,646	206,654
Depreciation of	housing		properties		355,298	355,298	331,561
Other staff costs					1,333,036	1,333,036	1,287,775
Other hire							3,139
Motor expenses					15,829	15,829	17,662
Travelling and subsistence					1,153	1,153	1,461
Rent and rates					1,235,965	1,235,965	1,164,936
Light, heat and	power				325,244	325,244	159,994
Insurance					33,914	33,914	46,297
Telephone and	fax				15,576	15,576	18,005
Office expenses					8,133	8,133	10,161
Other costs					9,869	9,869	8,145
Legal and professional			fees		33,837	33,837	37,925
Computer software		and	maintenance	costs	4,608	4,608	9,658
Cleaning					24,447	24,447	31,634
Auditor's remuneration					8,150	8,150	7,260
Food and welfare					51,469	51,469	30,895
Total operating	expenditure				4,339,360	4,339,360	3,977,672
					General
					needs
					housing	2023	2022
					E
Operating surplus		from	social housing	lettings	455,076	455,076	248,194

												2023	2022
Other	operating	income										25,396	93,649
Other	operating	income	includes	The	Fells	crash	pad	income	as	well	as	other miscellaneous	income.

6 Operating surplus	6 Operating surplus	6 Operating surplus
Arrived at after charging/(crediting)
				2023	2022
Amortised government		grants		(113,179)	(156,734)
Depreciation	expense			355,298	329,642
7 Interest	payable	and similar	expenses
				2023	2022
Interest on	obligations	under finance leases and hire purchase
contracts				187,005	187,833
Interest expense on other finance			liabilities	249,476	112,352
				436,481	300,185

Current taxation
UK corporation tax
11Tangible assets

11Tangible assets
	Housing	Furniture,
	properties for	fittings and
	let	equipment	Total
		F
Cost or valuation
At 1 April 2022	10,586,355	222,089	10,808,444
Additions Disposals	(181,551	7,960	7,960 ~(181,551
At 31 March 2023	10,404,804	230,049	10,634,853
Depreciation
At 1 April 2022	1,415,931	65,000	1,480,931
Charge for the year	286,789	68,509	355,298
Eliminated on disposal	(72,783)		(72,783)
At 31 March 2023	1,629,937	133,509	1,763,446
Carrying amount
At 31 March 2023	8,774,867	96,540	8,871,407
At 31 March 2022	9,170,424	157,089	9,327,513

12 Debtors
				2023	2022
					F
Trade debtors (gross rent arrears)				830,521	668,629
Bad debt provision				90,928	(145,879
Net rent arrears				739,593	522,750
Other debtors				12,283	3,262
Prepayments and accrued income				83,451	51,011
				835,327	577,023
13Cash and cash equivalents
				2023	2022
				E
Cash at bank				342,065	995,660
14Creditors
				2023	2022
			Note	E	E
Due within one year
Loans and borrowings			15	30,291	31,117
Trade creditors				79,282	193,663
Amounts owed to group undertakings			18	391,204	995,257
Other creditors				6,259	1,786
Accrued expenses				181,697	107,430
Corporation tax liability				22,692	22,692
Deferred income - Recycled social	housing	grant		64,000
				775,425	1,351,945
Due after one year
Loans and borrowings			15	4,225,788	4,367,477
Deferred income - Social housing	grant		16	5,030,622	5,207,801
				9,256,410	9,575,278

15Loans and borrowings	15Loans and borrowings
		2023	2022
Current loans and	borrowings
Finance lease liabilities		30,291	31,117
		2023	2022
Non-current loans	and borrowings
Finance lease liabilities		4,225,788	4,367,477
16Social housing	grant
		Social
		housing
		grant	Totalf
Gross grant creditor At 1 April 2022		5,852,769	5,852,769
Disposals
At 31 March 2023		5,788,769	5,788,769
Amortisation
At 1 April 2022		644,968	644,968
Grant release		113,179	113,179
At 31 March 2023		758,147	758,147
Carrying amount
At 31 March 2023		5,030,622	5,030,622
At 31 March 2022		5,207,801	5,207,801

17Obligations u	nder leas	es and hire pu	rchase contra	cts
Operating leases
The total offuture	minimum	lease payments	is as follows:	.
					2023f	2022f
Not later than one	year				315,924	153,236
Later than one year and not		later than five	years		198,284	598,073
					514,208	751,309

19Accommodation	19Accommodation	in	management
				2023	2022
				No.	No.
General needs				78	84
Supported	accommodation			331	331
				409	415
20 Parent	and ultimate		parent undertaking