2022-03-31-accounts

CONTENTS			PAGE
Members of	the Board and professional	advisers
Members of	the Board's report (incorporating Strategic Report on pages 5 to 16)		2 to 20
Independent	Auditor's report		21 to 23
Consolidated	Income and Expenditure	Account and
Statement of Comprehensive Income			24
Consolidated	and Association Balance	Sheets	25
Consolidated	Statement of Changes in	Reserves	26
Association	Statement of Changes in Reserves		27
Consolidated	Statement of Cash Flows		28
Notes to the	financial statements		29 to 49

	YEAR ENDED 31 MARCH 2022	YEAR ENDED 31 MARCH 2022
STRATEGIC REPORT	(continued)
Vision	Our vision is for every young	person to	have a safe place to
	call home and the support they need to		create lasting		change
	in their lives.
	Our mission is to create supportive and		inspiring places where
Mission	young people and communities can belong,			contribute	and
	thrive. We do this through accommodation,			care, support,
	advice, skills for life, theatre	and cultural	activities.
Purpose statement	Everyone should have a fair	chance to	discover who they are
	and what they can become.
	Values
We welcome	We work with kindness and integrity so		that	everyone	can feel
	secure, respected and heard
We support	We build trusting relationships	and nurture		personal strengths
	to help people find their path	to independence
We empower	We work alongside people to grow their		skills and self-belief to
	enable them to thrive
We enrich	We create inspiring activities	that give people a sense			of
	connection and wellbeing
We seek out	We look for opportunities to collaborate		and	make an	impact	in
	the communities we serve
Strategic Nleasures
We will achieve this by:

ring 2021	/22 The Y received the	following large contracts and gra	nts;
Leicester	City Council Supporting	People	2428,630
Leicester	City Council Homelessness		F60,487
Leicester	Health		f36,746
Heritage	Lottery Fund		F243,739
Arts Council —COVID grant			F54,056
Paul Hamlyn Charity			F30,000

Regulator ofSocial	Housing Metrics 2022	Housing Metrics 2022					2021-22	2020-21
Metric 1(Efficiency)		Reinvestment %					0%	0%
		(Investment in properties, existing		5 new,		as a %ofthe value
		oftota I properties held)
Metric 2 (Effectiveness)		New supply delivered%
		(No. of new social and non-social		housing		units, acquired or
		developed in the year as a proportion			of	total social and non-
		social housing units owned at	period		end.	)
	Calc A For social housing units						0%	0%
	Calc B For non-social housing units						0%	0%
Metric 3(Efficiency)		Gearing %					4%	5%
Metric 4 (Efficiency)		EBITDA MRI interest cover%					2630%	2082%
Metric 5 (Economy)		Headline social housing cost	per	unit			f12,868	E13,641
Metric 6(Efficiency)		Operating Margin %
	Calc A Operating Margin (social housing			only) %			12%	13%
	Calc B Operating Margin (overall) %						4%	3%
Metric 7 (Efficiency)		Return on Capital Employed	(ROCE)		%		2%	2%

				Note	Year	Year
					ended	ended
					31 March	31 March
					2022f	2021 E
TURNOVER					3,629,971	3,674,604
Operating	costs				(3,483,652)	(3,574,978)
OPERATING SURPLUS					146,319	99,626
Interest receivable and similar income					13,550	12,199
Interest payable		and similar	charges		(20,879)	(18,229)
Change in	fair value of investment
properties				12		264,328
Change in	fair value of investments			13	22,300	68,561
SURPLUS	FOR	THE YEAR	BEFORE
TAX					161,290	426,485
Taxation
SURPLUS	FOR	THE YEAR	AND
TOTAL COMPREHENSIVE FOR THE YEAR			INCOME		161,290	426,485

CO	NSOLIDATED	AND ASS	OCIATION BAL	ANCE SHEETS
		AS AT 31	INARCH 2022
				Group	Association
			2022	2021	2022	2021
				F
FIXEDASSETS
Intangible assets		10		2,444		2,444
Housing properties		11	3,366,593	3,618,825	3,366,593	3,618,825
Other tangible assets		11	350,005	325,881	325,081	311,299
Investment properties		12	1,570,000	1,570,000	1,570,000	1,570,000
			5,286,598	5,517,150	5,261,674	5,502,568
Other investments			465,457	444,265	465,457	444,266
			5,752,055	5,961,415	5,727,131	5,946,834
CURRENT ASSETS
Stocks		14	4,781	1,050
Debtors		15	353,262	144,974	433,097	205,029
Cash and cash equivalents		23	959,032	1,022,406	919,327	1,013,416
			1,317,075	1,168,430	1,352,424	1,218,445
CURRENT LIABILITIES
Creditors: Amounts falling due within
one year		16	871,799	927,776	861,885	929,534
NET CURRENT
ASSETSl(LIABILITIES)			445,276	240,654	490,539	288,911
TOTAL ASSETS LESSCURRENT
LIABILITIES			6,197,331	6,202,069	6,217,670	6,235,745
Creditors: Amounts falling due after
one year		17	2,491,868	2,676,059	2,491,868	2,676,059
Provisions for liabilities			380,480	362,317	380,480	362,317
TOTAL NET ASSETS			3,324,983	3,163,693	3,345,322	3,197,369
RESERVES
UNRESTRICTED FUNDS
Designated 8 general	reserves	19	3,341,285	3,193,332	3,341,285	3,193,332
Non-charitable trading	reserves	19	(20,339)	(33,676)
Joint venture reserve		19
			3,320,946	3,159,656	3,341,285	3,193,332
RESTRICTED FUNDS		19	4,037	4,037	4,037	4,037
TOTAL RESERVES			3,324,983	3,163,693	3,345,322	3,197,369

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			Note
				2022	2021
				E	E
OPERATING ACTIVITIES
Net cash generated from operations			22	59,276	488,743
NET CASH GENERATED FROM OPERATING
ACTIVITIES				59,276	488,743
CASH FLOW FROM INVESTING ACTIVITIES
Interest and dividends received				13,550	12,199
Payments to acquire tangible fixed		assets		(85,596)	(72,063)
Proceeds on disposal of Joint Venture
NET CASH USED IN INVESTING	ACTIVITIES			(72,046)	(59,864)
CASH FLOW FROM FINANCING	ACTIVITIES
Payments to acquire fixed asset investments				(64,933)	(101,305)
Receipts on sale of fixed asset investments				66,041	107,879
Interest paid				(20,879)	(18,229)
Repayment of borrowings				(30,833)	(31,799)
NET CASH (USED IN)/FROM FINANCING
ACTIVITIES				(50,604)	(43,454)
NET (DECREASE)/INCREASE IN		CASH AND CASH
EQUIVALENTS				(63,374)	385,425
CASH AND CASH EQUIVALENTS		AT THE
BEGINNING OF THE YEAR				1,022,406	636,981
CASH AND CASH EQUIVALENTS		AT END OF
YEAR			23	959,032	1,022,406

Year to 31 March 2022			Operating
		Operating	surplus/
	Turnover	costs	(deficit)
		E	E
Social Housing	2,107,232	(1,855,547)	251,685
Non Social Housing
activities	1,522,739	(1,628,105)	(105,366)
Total	3,629,971	(3,483,652)	146,319
Year to 31 March 2021			Operating
		Operating	surplus/
	Turnover	costs	(deficit)
	E	E
Social Housing	2,228,900	(1,937,110)	291,790
Non Social Housing
activities	1,445,704	(1,637,868)	(192,164)
Total	3,674,604	(3,574,978)	99,626

Particulars of Group income and expe	nditure from s	ocial housing lettings
		General	General
		Housing	Housing
		2022	2021
		E
TURNOVER FROM SOCIAL
HOUSING LETTINGS
Rent receivable net ofvoids		1005,086	925,927
Service charges receivable		458,891	445,224
NET RENTAL INCOME		1,463,977	1,371,151
Supporting people contract income		428,630	428,630
Other revenue grants		639	170,379
Grant amortisation		213,986	258,740
TURNOVER FROM SOCIAL
HOUSING LETTINGS		2,107,232	2,228,900
EXPENDITURE ON SOCIAL
HOUSING LETTINGS
Direct costs			6,487
Staffing		990,999	1,023,851
Administration		173,384	175,053
Depreciation and amortisation		194,641	237,920
Maintenance		20,761	25,583
Services		49,929	43,829
Service charge costs		425,833	424,387
OPERATING COSTS ON SOCIAL
HOUSING LETTINGS		(1,855,547)	(1,937,110)
OPERATING SURPLUS ON
SOCIAL HOUSING LETTINGS		251,685	291,790
Rent losses on voids		77,417	41,862
Supported Housing Accommodation	owned	2022	2021
and managed		No. of units	No. of units
Let at social rent		104	103

				Group
			2022	2021
Depreciation of housing	properties		252,232	296,857
Depreciation of other tangible		fixed assets	61,472	58,688
Amortisation of intangible fixed assets			2,444	2,440
Amortisation of grants			(213,986)	(258,740)
Auditor's remuneration	(audit	services)	'I2,500	12,500
Auditor's remuneration	(non-audit work)		1,000	1,000
Operating lease rentals			76,611	59,073
Cost ofstocks recognised as		an expense	19,108	98

NTERE	ST RECEIVABLE AND SIMILAR INCOME
			Group
		2022	2021
Interest	on bank deposits	12
Income	from listed investments	13,538	12,199
		13,550	12,199

				Group
				2022	2021
					E
YMCA	pension	notional	finance charge (Note 18)	10,870	9,234
Interest	on bank	loan		10,009	8,995
				20,879	18,229

				2022	2021
				F
Emoluments		for qualifying	services	113,700	107,260
Pension	contributions			6,642	6,598

											2022	2021
											No.	No.
Average	number	of	persons	(including		part-time		employees		and
the Chief	Executive		but excludes		Casual		Staff)	employed	during
the year											74	79
Full time	equivalent		(40 hours	per	week)						65	66

The Group also holds a bank ofcasual staff (sessional) who can be called on to cover	The Group also holds a bank ofcasual staff (sessional) who can be called on to cover	short term
unexpected absences.	During the year the Group had 21 casual staff on its books (2021:23).
	2022	2021
		f.
Staff costs (for the above persons)
Wages and salaries	1,858,826	1,898,856
Social security costs	158,149	155,031
Other pension costs	42,533	43,051
	2,059,508	2,096,938

Group and Association	Website costs
Cost
At 1 April 2021	12,204
Additions
At 31 March 2022	12,204
Amortisation
At 1 April 2021	9,760
Charge for the year	2,444
At 31 March 2022	12,204
Net Book Value
At 31 March 2022
At 31 March 2021	2,444

ANGIBLE FIXEDASSE	TS
Group and Association			Social Housing	Properties
			held	for letting
				E
Cost
At 1 April 2021				7,486,285
Properties acquired
Works to existing properties
Disposals —component	write-off
At 31 March 2022				7,486,285
Depreciation
At 1 April 2021				3,867,460
Charge for the year				252,232
Eliminated on disposals	—component	write-off
At 31 March 2022				4,119,692
Net Book Value
At 31 March 2022				3,366,593
At 31 March 2021				3,618,825

Depreciation	charge for	the year		2022	2021
				E	E
Annual depreciation charge				252,232	296,857
Accelerated	depreciation	on component	write off
				252,232	296,857

TANGIBLE FIXEDASSETS	(continued)
Group	Freehold	Furniture
	Land &	Fixtures &
	Buildings	Fittings	Lift	TOTAL
	E	E
COST
At 1 April 2021	918,914	556,162	299,936	1,775,012
Additions		85,596		85,596
Disposals
At 31 March 2022	918,914	641,758	299,936	1,860,608
DEPRECIATION
At 1 April 2021	770,963	386,961	291,207	1,449,131
Charge for the year	18,764	33,979	8,729	61,472
Disposals
At 31 March 2022	789,727	420,940	299,936	1,510,603
NET BOOK VALUE
At 31 March 2022	129,187	220,818		350,005
At 31 March 2021	147,951	169,201	8,729	325,881
Association	Freehold	Furniture
	Land &	Fixtures &
	Buildings	Fittings	Lift	TOTAL
	E		E	F
COST
At 1 April 2021	918,914	530,048	299,936	1,748,898
Additions		71,986		71,986
Disposals
At 31 March 2022	918,914	602,034	299,936	1,820,884
DEPRECIATION
At 1 April 2021	770,963	375,429	291,207	1,437,599
Charge for the year	18,764	30,711	8,729	58,204
Disposals
At 31 March 2022	789,727	406,140	299,936	1,495,803
NET BOOK VALUE
At 31 March 2022	129,187	195,894		325,081
At 31 March 2021	147,951	154,619	8,729	311,299

Group and Association	2022	2021
	F
At 1 April	1,570,000	1,305,672
Increase in fair value		264,328
At 31 March	1,570,000	1,570,000

blic. The com ults is shown	pany will gift below:	aid any t	axable p	rofits	to Leicester YM	CA. A summary	of its trading
						2022	2021
							F
Profit and loss account
Turnover						53,100
Cost ofsales						(31,000)	(6,227)
Gross profit/(loss)						22,100	(6,227)
Administrative	expenses					(8,763)	(5, 1 02)
Profit/(Loss)	on ordinary	activities	before	and	after tax and	13,337	(11,329)
retained
Capital and	reserves					(20,339)	(33,676)

				2022	2021
				f.
Group and		Association
Other investments			—listed at fair value
At 1 April				444,265	382,278
Additions				64,933	101,305
Disposals				(66,041)	(107,879)
Realised	gain on disposal			20,841	7,700
Unrealised		gain/(deficit)		1,459	60,861
At 31 March				465,457	444,265
Historical	cost			376,027	377,216

		Group		Association	Association
		2022	2021	2022	2021
Goods for resale		4,781	1,050
DEBTORS
		Group		Association
		2022	2021	2022	2021
		E	E
Housing debtors		158,897	98,438	158,897	98,438
Other trade debtors		151,593	23,369	151,593	23,369
Bad debt provision		(18,940)	(18,940)	(18,940)	(18,940)
Amount owed	from subsidiary
company				79,835	60,055
Other debtors		6,659	350	6,659	350
Prepayments	8 accrued income	55,053	41,757	55,053	41,757
		353,262	144,974	433,097	205,029

CREDIT	ORS Amounts	falling due	within one y	ear	ear
				Group		Association
			2022		2021	2022	2021
			F		E'	E
Trade creditors			285,541		325,690	281,363	325,690
Bank loan			30,270		30,930	30,270	30,930
Taxation	8 Social Security		54,319		40,316	52,064	43,220
Accruals			78,154		70,903	76,904	70,903
Deferred	income		223,418		195,305	223,418	195,305
Other creditors			2,241		6,808	10	5,662
Deferred	capital grant (see note 17)		197,856		257,824	197,856	257,824
			871,799		927,776	861,885	929,534
CREDITORS Amounts		falling due	after one year
				Group		Association
			2022		2021	2022	2021
			E			E
Bank loan			291,864		322,037	291,864	322,037
Deferred	capital grant		2,200,004	2,354,022		2,200,004	2,354,022
			2,491,868	2,676,059		2,491,868	2,676,059

			Group and	Association
Deferred	capital grant		2022	2021
			F	F
As at 1 April			2,611,846	2,870,586
Amortisation			(213,986)	(258,740)
As at 31 March			2,397,860	2,611,846
Less: due	in less than one year		(197,856)	(257,824)
Due after	more than one year		2,200,004	2,354,022
			Group and	Association
Bank Loan			2022	2021
			F
Amounts	falling due by instalments	after more than five
years			142,516	179,810

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	Group and Associatio	n
							Other
							2022	2021
								E
	Within one year						72,103	77,693
	Within 2 to 5 years						141,939	276,672
							214,042	354,365
22.	RECONCILIATION OF		SURPLUS AFTER TAX TO			NET CASH
	GENERATED FROM	OPERATIONS
							2022	2021
							E
	Surplus for the year						161,290	426,485
	Adjustments for:
	Depreciation of tangible		fixed assets				313,704	355,545
	Amortisation of intangible			fixed assets			2,444	2,440
	Grant amortisation						(213,986)	(258,740)
	Interest and dividends		receivable				(13,550)	(12,199)
	interest payable						20,879	18,229
	Accelerated depreciation
	Fair value (gain)/deficit		on	investments			(22,300)	(68,561)
	Fair value (gain)/deficit		on	investment	properties			(264,328)
	Operating cash flow	before movements			in working	capital	248,481	198,871
	(increase)/decrease	in	stocks				(3,731)	603
	(Increase)/decrease	in	debtors				(208,288)	142,875
	Increase in creditors						4,651	91,871
	Increase in provisions						18,163	54,523
	Cash generated from		operations				59,276	488,743
23.	CASH AND CASH EQUIVALENTS
							Group	Association
						2022f	2021	2022 2021 E E
	Cash and cash equivalents			represent:
	Cash at bank					959,032	1,022,406 919,327 1,013,416

ANALYSIS OF		CHANGES IN NET DE	BT
			At 1 April	Cash flows	Other non-cash changes	At 31 March
			2021			2022
			F
Cash and cash		equivalents
Cash			1,022,406	(63,374)		959,032
			1,022,406	(63,374)		959,032
Borrowings
Bank loan
Debt due within		1 year	(30,930)	660		(30,270)
Debt due after	1 year		(322,037)	30,173		(291,864)
			(352,967)	30,833		(322,134)
Total			669,439	(32,541)		636,898