2022-09-30-accounts

	Executive	and Advisors
	Strategic	Report
12	Report of	the Board of Directors
20	Report of	the Independent Auditor
24	Statement	ofComprehensive Income
25	Statement	of Financial Position
	Statement	ofChanges in Reserves
27	Statement	ofGash Flows
28	Notes to	the Financial Statements

Risk							Mitigation	Mitigation
Inability to effectively				engage with our customers			~	Cornrnunications Strategy in plaoe.
and/or	deliver good		quality services			or manage	~	Self-assessment against Ombudsman		Code
customer		expectations		resulting	in poor			completed and circulated to Board.
customer		satisfaction		and increased		number of	~	New Complaints and Compensation		Policies
customer		complaints		upheld.				in place and rolled out to all staff.
							~	Board and ETReport on Complaints		revised
								to include improved analysis and themes.
							~	Customer Services Team now in place.
							~	All staff to be trained in customer services.
							~	Acuity Satisfaction surveys in plaos.
							~	Customer Satisfaction improvement		plan	in
								place.
							~	Procurement and outsourcing of Repairs
								service to MCP.
Failure	to manage		all	aspects of	the	remediation	~	Project Board in place.
ofour Childers Street				development.			~	Legal advisor and Bamsters appointed,
							~	Legal Claim made together with Insurers.
							o	Quarterly reports to Board together	with
								project risk register review.
							~	Communications Plan in place.

Risk						Mitigation
Failure	to comply with required	Health		&		H&S consultant in place
Safety	and Safeguarding					H&S Policy & procedure reviewed,	and		staff
policies/legislation.						briefed.
						Compliance Policies reviewed and	in place,
						Compliance Manager and Compliance			officer
						in place reducing reliance on external.
						consultants and improving knowledge		transfer.
						Reporting governanos in plaos with
						performance reported in Board, Audit		&Risk
						Committee and ET.
						Single source data management system-
						C365 in plaos.
						Safeguarding policies and procedures			in
						place.
						Established liaison with Local Authority
						Safeguarding teams.
						Staff and Volunteers 066Checked.
						Staff trained in Safeguarding procedures,
						Safeguarding forum established.
Failure	to recruit and retain good		quality			Internal recruiter in post.
people	in some areas ofthe organisation				in	Recruitment and selection policy in	place.
a market where strong candidates			are	in		All managers trained in recruitment.
short supply,						Improved induction process in place.
						Wellbeing policies and procedures	in place.
						Salary benchrnarking complete and	new pay
						policy implemented.
						Enhanced menu ofbenefits,
						Exit interviews being carried out by	HR
						consultant.
						Staff retention plan completed and	reviewed.
						by People and Customer Committee.
concerns,						Staff Engagement survey to be cerned			out
						regularly.

								Median
Indicator					2019/20	2020/21	2021/22	BM 320
								Benchmark
Regulatory	metrics:
								2.3
Reinvestment	%
New supply	delivered		(social
housing) %
New supply	delivered		(non-social
housing) %
Gearing %					18	20	25	37
EBITDA MR	I interest		cover	%	-114	-195		182
Headline social housing cost per unit 8					8,788	8,997	11,141	4.880
Operating margin lettings) %		(social housing			5.9		-5.8	19.3
Operating margin		(overall)		%	6.9	0.4	A8	17
Return on capital		employed		%	0.74	0.D4	-0.51	1.87

(A company limited by guarantee	having no s	hare capital)
Local key cost and performance
metrics:
Financial and overheads
Overhead as % turnover	23.5	26.2	22.2	23.D
Housing management
Cost per property	3,364	4,008	5,340	627
set management
Cost per property of maior orkslcyclical maintenance	2,582	2,208	3,4D1	87D
Cost per property of responsive repairs and void works	1,441	1,256	841	830
Invest in our people
Beffturnover	36.8	29.7	32.8	Not measured

		Note	2022	2021
				f
TURNOVER		4	8,415,420	7,885,230
Operating expenditure		4	(8,823,115)	(7,857,139)
Surplus on sale offixed	assets
OPERATING
(LOSS)/SURPLUS		4	(407,895)	28,091
Exceptional item - uninsured losses			(1,016,372)	(1,582,652)
Surplus on revaluation investment properlies	of		380,000	771,174
Bank interest receivable			20,098	22,884
Interest and other financing costs			(717,846)	(359,288)
DEFICIT FOR THE YEAR		8	(1,741,817)	(1,119,782)
TOTAL COMPREHENSIVE
INCOME FOR THE YEAR			(1,741,817)	(1,119,782)

					2022
				Revenue	Endowment
				Reserve	Reserve
			Note			6
At the beginning	ofthe	year		13,462,434	486,377	13,948,811
Surplus from Statement Comprehensive Income		of for the year		(1,741,817)		(1,741,817)
At the end ofthe year				11,720,617	488,377	12,206,984
					2021
				Revenue Reserve	Endowment Reserve	Total
At the beginning	ofthe	year		14,582,218	486,377	15,068,593
Surplus from Statement		of		(1,119,782)		(1,119,782)
Comprehensive	Income	for the year
At the end ofthe year				13,462,434	486,377	13,948,811

			2022		2021
		Note
Net cash generated from		24		(1,751,027)		(1,770,075)
operating activities
Cash flow from Investing
Activities
Purchase ofhousing properties			(2,325,031)		(1,194,471)
Interest received			20,095		22,894
Proceeds from Sale of Property
Purchase ofother property, &equipment	plant		(32,115)		(15,042)
Net cash used in investing				(2,337,051)		(1,108,019)
activities
Cash flow from Financing
activities
Repayment of borrowings
Grant funding
New borrowing			11,354,700
Loan agreement fees
Interest paid			(717,845)		(359,288)
Net cash used in financing				10,03a,aso		(359,288)
activities
Net change in cash and cash equivalents				0,548,182		3,315,982
Cash and cash equivalents	at:
Beginning ofthe year				3,413,735		6,729,719
End ofthe year		13		9,901,918		3,413,736

charge. The components selecte are managed.	charge. The components selecte are managed.	charge. The components selecte are managed.	d are those which refle	ct how the ma	jor repairs	to the property
Housing for Women depreciates			the major components	of its housing	properties	at the following
annual rates:
Components	identified	within	housing properties:
Roof and Structure				100years
Windows and	External doors			30years
Kitchens				20 years
Bathrooms				30years
Heating				15years
Mechanical and electrical				40 years
Lifts				25 years

					2022			2021
						Operating			Operating
					Operating	surplus I		Operating	surplus (
				Turnover	expenditure	(deficit)	Turnover	expenditure	(deficit)
				6	6	6	K	6	6
Social housing		lettings (Note 4b)		8,336,484	8,823,115	(486,621)	7,769,724	7,857,139	(87,415)
Other social housing activities
Development	administration
Other charitable		income		50,$63		$0,$63	79,432		79.432
Other				28,363		28,363	36,073		36,073
				8,41$,420	8,823,115	(407,69$)	7,885,229	7,857,139	28.090
Surplus on	sale	offixed assets
Exceptional	item	- uninsured	tosses		1,016,372	(1,016,372)		1,582,652	(1,582,652)
				8,415,420	9,839,487	(1,424,8$7)	7,885,229	9,439,791	(1,554,562)

4(h) Parti	culars	a	ft	urno	ver	and opera	ting expe	nditure fr	am social hausing	lettings
											2022			2021
									General Needs	Refuges		Other Supported Housing	Total	Total
												6
Income
Rents receivable net of	identifiable			service		charges			4,943,353	244,956		8,348	5,196,657	5,256,127
Service charges reoeivable									756,236	377,018		30,215	1,1$3,4$9	868,231
Revenue grants										1,071,324		410,303	1,481,627	1,065,259
Amorlised government	grants								407,785				497,785	497,785
Other Income									(5,505)			2,461	(3,044)	82,322
Turnover from social	housing		lettlngs						6,101,089	1,803,298		451,327	8,336,494	7,789,724
Operating expenditure
Servioe charges coals									652,849	242,048		47,512	042,209	1,090,798
Management									3,423,906	1,138,571		385,291	4,918,168	3,659,323
Routine maintenance									774,019	171		884	774,874	1,147,128
Planned maintenance									806,253				8I05,253	821,192
Major repairs														0
Bad debts									124,668	40,305		4,133	169,106	(47.543)
Leasing costs									109,852	175,153		3I6,250	321,255	347,890
Depreciafion charge									887,$03				887,6I03	837,410
Loss on disposal ofoomponenls													0	0
Insured costs													0	0
Other casts												2,709	3,647	941
Operating expenditure	on social			housing		lettlngs			6,779,552	1,596,084		446,579	8,823,115	7,857,139
Operating surplus on	social	housing			lettlngs before		exceptions	I items	(507,603)	06,313		4,748	(486,822)	(87,415)
ExcepQonal item —uninsured		losses							(1,I016,372)				(1,016,372)	(1,582,652)
Operating surplus on	social	housing			lettings				(1,604,055)	96,313		4,748	(1,502,093)	(1,670,067)
Rent losses from voids (included in net of identifiable service charges)				Rents receivable					(292,53$)	(92,300)		(28,118)	(412,980)	(255.000)

				2622	2021
				r.
Remuneration payable to key management personnel iinduding benefits in kind)				423,230	365.669
Employers pension contributions				31,373	30,145
Employers national insurance				52,259	43,328
				506,862	439,142
The highest paid Executive:
Remuneration (excluding pension	contributions)			118,780	108,418
Pension contributions				12,417	12.392
				131,197	120.810
The remuneration and pension	contributions		relate to the Chief Executive.
The Chief executive participates	as	an ordinary		member ofthe group ofdefined contribution
pension plan and received a pension		contribution		of10.5%ofpensionable	salary,

	2022	2021
Wages and salaries	2,294,159	2,236,107
Social security costs	240,434	228,307
Other pension costs	133,195	129,081
	2,667,788	2,593,475

								2022	2021
								Number	Number
More	than	f60,000	but	not	more	than	870,000	4	3
More	than	670,000	but	not	more	than	f60,000		1
More	than	280,000	but	not	more	than	E90,000
More	than	f90,000	but	not	more	than	2100,000
More	than	6100,00	but	not	more	than	K110,000
More	than	f110,00	but	not	more	than	9120,000
More	than	E120,00	but	not	more	than	E130,000
More	than	f130,00	but	not	more	than	8140,000
								7	7

					2022	2021
					g
Interest	payable	on	bank	loans	717,846	359,288
					717,846	359,288

. Deficit in current y	e	ar
							2022			2021f
la stated alter charging:
Depreciation ofhousing		properties					944,465		906.977
Depreciation ofother tangible				fixed assets			47,909		36.278
Amortisation ofgovernment			grants				(497,706)		(497,785)
Operating lease payments
Land &Buildings							168,716		196,191
Auditors remuneration	(excluding				VAT):
In their capacity as auditors							20,000		19.125
In respect ofother services
. Property, plant and		equipment
			Housing Properties			Property equipment, fixtures and commercial premises	Leasehold Offic premises	Office equipment and furniture		Total
						f
Cost
At 1 October 2021				83,287,706		91,804	136,010	362,878		83,878,398
Additions				2,325,631				32,116		2,357,747
Transfer to Investment
Properties
Disposals						14436					14436
At 30September 2022				85	613,337	77368	136010	394 994		86	221,709
Depreciation
At 1 October 2021				14,048,507		79,744	132,588	275,993		14,536,832
Charge for year					944,465	30		47,929			992,424
Transfer to Investment
Properties
Disposals						2406					2406
At 30September 2022				14,992,972		77,368	132,588	323,922		15,526,850
Net book value
At 30September 2022				70	620305		3422	71 072		70	694059
At 30September 2021				60	230 100	12060	3422	86885		60	341 566

	Included within the housing	properties balances isfnil	properties balances isfnil	properties balances isfnil	ofcapitalised interes	t (2021:f36,000)
	Housing properties book	value, net ofdepreciation			comprises:
					2022f	2021 f
	Freehold land and buildings				84,818,035	63,266,492
	Long leasehold land and buildings				5,311,314	5.469.677
	Short leasehold land and buildings				491,016	483.069
					70,620,365	69.239.238
10.	Investment properties
						f
	At 1 October 2021					870,000
	Transfer from property,	plant	and equipment
	Net gain on revaluation					380,000
	At 30September 2022					1,250,000
11.	Investments
						f
	As at 1 October 2021					5,460
	Fair value adjustment					(878)
	Market value at 30September		2022			4,562
12.	Debtors
					2022	2021
	Amounts receivable within		one year
	Arrears ofrent and service Less: provision for bad and		charges doubfful debts	783,423 ~362,466		793,882 ~242,046
					420,934	551,837
	Prepayments and accrued		income		737,789	303,313
	Other debtors				794,946	353,912
					1,953,669	1,209,062

13.	Cash and cash equivalents	Cash and cash equivalents	Cash and cash equivalents
								2021
							9,739,478	3,192,286
	Cash held on current		account or in		hand
	The Charities Official		Investment Deposit Fund				222,440	221,438
							9,961,918	3,413,724
14.	Creditors —amounts	falling due within one year
								2021
						Note
	Amounts falling due	within		one year:
	Loan instalments repayable			within	12 months	16	807,420	708,448
	Deferred govemrnent		grant	income		17	497,785	497,785
	Trade creditors						326	84,179
	Rent and service charges received				in advance		445,050	405,518
	Other creditors						152,768	95,053
	Accruals and deferred		income				1,870,872	1,323,354
							3,774,221	3,114,337
15.	Creditors - amounts	falling		due after more than		one year
						Note	2022	2021
							E
	Housing loans					16	30~4,788	19,879,852
	Deferred government	grant income				17	36,199,028	36,696,812
	Other deferred grant income						1,200,000	1,200,000
							67,883,813	57,776,664

	are repayable at varying		rates ofinterest between 0.6%	and 10.8%, in instalrne	nts due as foll
				2022	2021
	Due within one year			807,420	708,448
	Due after more than one		year.
	One to two years			853,337	749,773
	Two to five years			2,796,001	2,533,498
	Five or more years			26,834,646	16,596,582
				30,484,784	19,879,853
				31,292,204	20,588,301
17.	Deferred government	grant inoorne
				2022	2021
				K
	Grant received At 1October			49,724,243	49,724,243
	Grant received during	the year
	At 30September			49,724,243	49,724,243
	Grant amortised
	At 1October			12,529,648	12,031,863
	Arnortised to income	in	the year	497,785	497,785
	At 30September			13,027,433	12,529,648
	Carrying amount
	Amounts to be released		within one year	497,785	497,785
	Amounts to be released		in more than one year	36,199,028	36,696,812
				36,696,813	37,194,597

					2022	2021
					E
Government	grant	previously	amortised	to income	13,027,428	12,529,643
Government	grant	included	in deferred	income	36,696,812	37,194,597
Total government		grant received			49,724,240	49,724,240

omen	is the	trustee:
					Investment
				Balance	income		Balance
			1	October	transfers from	30	September
					Revenue
				2021	reserve		2022
					E		E
Mary	Curzon	Charity		486,377			486,377
				486,377			486,377

Fund balance	s at 30Septe	mb	er are	rep	resented by:
			2022				2021
	Unrestricted	Endowment			Total	Unrestricted Endowment		Total
			6		E	6	E
Property, plant and equipment	70,694,859				70,694,859	69,341,603		69.341.603
Investment property	1,250,WO				1,250,000	870,DOO		87D,OOD
Imreelrnenla	4,582				4,582	5,460		5,46D
Current assets	11329,210		486,377		11,915,587	4,136,409	486,377	4,622,786
Cunnnt liabilities	(3,774,221)				(3,774,221)	(3,114,337)		(3,114,337)
Creditors-
amounta falling due after more	(67,883,813)				(67,809,819)	(57,776,664)		(57.776.664)
than one year
	11,720,617		486,377		12,206,994	13,462,471	486,377	13,948,848
20.Revenue Reserves
Revenue reserves include		amounts		earmarked for future		anticipated major	works (Major	Work
funds) to Housing for Women			owned	properties; service chargeable items			replacement
(replacement	funds) and funding for			non-externally funded		periods in supported housing		projects
(charitable funds), As at 30September					2022 the amounts	earmarked are;
							E
Charitable							101,062
Major Works						5,614,206
Replacement							534,900
						6,250,168

	2022	2021
	Propertyf	Property
Within one year	131,800	173,697
Between two and five years	339,745	438,507
After five years	231,263	231,263
	702,808	643,467

			2022	2021
			No	No
Genera	I needs housing			857
Supported		housing		56
			921	913

24. Notes tothe statement ofcash flows	24. Notes tothe statement ofcash flows	24. Notes tothe statement ofcash flows
			Note		2021
					f
Operating surplus for the year				(407,695)	28,091
Exceptional item - uninsured losses				(1,016,372)	(1,582,652)
Adjustments for non-cash items
Depreciation oftangible fixed assets			9	990,018	943,255
Amortisation ofgrants			8	(1,956,005)	(497,786)
Loss on disposal ofcomponents	and	other fixed		15,314	88,305
assets
Non-cash accruals/prepayments				173,969	(188,529)
Movement in working capital
(Decrease)fincrease in debtors				(371,058)	103,530
(Increase)/decrease in creditors				820,802	(664,288)
Net cash generated from operating		activities		(1,751,027)	(1,770,074)
25. Exceptional Item
				2022f	2021f
Uninsured Losses				1,016,372	1,582,652

TES	TO THE FINANCIAL STAT	E	MEN	T	S
26.	Financial instruments
	The carrying values of Housing		for	Women's		financial	assets and liabilities are
	summaries by category below:
								2022	2021
								E	6
	Financial assets
	Measured at undiscounted amounts				receivable
	Cash and cash equivalents							9,961,918	3,413,724
	Gross debtors							783,423	793,882
	Other debtors							829,946	353,912
	Measured at fair value through		profit		and loss
	Investments							4,582	5,460
	Financial IlablINes
	Measured at amortised cost
	Loans repayable							31,292,205	20,588,300
	Measured at undiscounted amounts				payable
	Trade and other creditors							156,040	179,232
	Housing for Women's income,		expense, gains			and losses in respect ofthe financial
	instruments are surnmarised	below:
								2022	2021
								K	6
	Fair value gains and losses	on investments						(878)	(8,936)
	Interest Income and expense
	Total interest income for financial assets at arnortised						cost	20,096	22,894
	Total interest expense for financial cost			liabilities at a mortised				717,846	359,288