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|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|
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||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:|||||||
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|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|
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|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%|
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|||||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|
##
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|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|
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|||||
|---|---|---|---|
|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|
##
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##
|||||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|
##
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##
|||||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|
##
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||||||||||||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|
##
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|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|
##
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##
|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|
##
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##
|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)|
##
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##
|||||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|
##