## ## ## |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|||