## |CONTENTS|CONTENTS||||PAGE| |---|---|---|---|---|---| |Members of|the Board and professional|||advisers|| |Members of|the Board's report
(including|||Strategic Report on pages 5 to 18)|2to22| |Independent|Auditor's
report||||23 to 25| |Consolidated|Income and Expenditure||Account and||| |Statement
of Comprehensive
Income|||||26| |Consolidated|and Association
Balance||Sheets||27| |Consolidated|Statement
of Changes|in|Reserves||28| |Association|Statement
of Changes
in|Reserves|||| |Consolidated|Statement
of Cash Flows||||30| |Notes to the|financial
statements||||31to 51| ## ## ## ## ## ## ## ## ## ## ## # ## # ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |EMBERS OF THE B|OARD'S REPORT (includi||g
S|TRA|TE|GIC RE|PORT)| |---|---|---|---|---|---|---|---| |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.||| ||Everyone
should have a fair chance|||to discover who they are|||| |Purpose statement|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||||||| ## ## ## ## # ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |Regulator ofSocial Housing
Metrics 2023|Regulator ofSocial Housing
Metrics 2023||||||2022-23|2021-22| |---|---|---|---|---|---|---|---|---| |Metric 1(Efficiency)|Reinvestment
%||||||090|0| ||(Investment
in properties,
existing||&|new,|as a %ofthe|value||| ||oftotal properties
held)|||||||| |Metric 2 (Effectiveness)|New supply delivered
9o|||||||| ||(No. of new social and non-social||housing||units, acquired|or||| ||developed
in the year as a proportion|||oftotal social and||non-||| ||social housing
units owned at|period||end.|)|||| |Cele A|For social housing
units||||||0%|090| |Cele B|For non-social
housing
units||||||OY0|0%| |Metric 3 (Efficiency)|Gearing
9'o||||||4%|4Yo| |Metric 4(Efficiency)|EBITDA MRI interest cover %||||||1236%|2630%| |Metric 5 (Economy)|Headline
social housing cost|per|unit||||614,019|612,868| |Metric 6(Efficiency)|Operating
Margin %|||||||| |Calc A|Operating
Margin (social housing||only) %||||7%|12%| |Calc 8|Operating
Margin (overall) %||||||1'Yo|4%| |Metric 7 (Efficiency)|Return on Capital Employed|(ROCE) %||||||2YO| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||STATEMENT|OF COMPRE|HENSIVE
INCOME|| |---|---|---|---|---|---| ||||Note|Year|Year| |||||ended|ended| |||||31March|31March| |||||2023|2022| |||||E|E| |TURNOVER||||3,520,295|3,629,971| |Operating
costs||||(3,470,807)|(3,483,652)| |OPERATING SURPLUS||||49,488|146,319| |Interest
receivable
income||and similar||14,356|13,550| |Interest
payable
charges|and similar|||(25,047)|(20I879)| |Change
in fair value||of investment|||| |properties|||12||| |Change
in fair value||of investments|13|(22,699)|22,300| |SURPLUS FOR|THE YEAR||||| |BEFORE TAX||||16,098|161,290| |Taxation|||||| |SURPLUS FOR|THE YEAR AND||||| |TOTAL COMPREHENSIVE
INCOME FOR THE YEAR||||16,098|161,290| ## ## ## |CONSO|LIDATED|AND A|SSOCIATIO|N
BALANCE|SHEETS|SHEETS| |---|---|---|---|---|---|---| |||||Group|Association|| ||||2023|2022|2023|2022| ||||E|E|E|| |FIXED ASSETS||||||| |Intangible
assets||10|15,644||15,644|| |Housing
properties||11|3,126,953|3,366,593|3,126,953|3,366,593| |Other tangible assets||11|458,939|350,005|436,918|325,081| |Investment
properties||12|1,570,000|1,570,000|1,570,000|1,570,000| ||||5,171,536|5,286,598|5,149,515|5,261,674| |Other investments||13|439,178|465,457|439,179|465,457| ||||5,610,714|5,752,055|5,588,694|5,727,131| |CURRENT ASSETS||||||| |Stocks||14|3,817|4,781||| |Debtors||15|362,187|353,262|376,377|433,097| |Cash and cash equivalents||23|860,035|959,032|847,982|919,327| ||||1,226,039|1,317,075|1,224,359|1,352,424| |CURRENT LIABILITIES||||||| |Creditors:
Amounts
falling due||||||| |within
one year||16|876,443|871,799|864,049|861,885| |NET CURRENT||||||| |ASSETS /(LIABILITIES)|||349,596|445,276|360,310|490,539| |TOTAL ASSETS LESS||||||| |CURRENT LIABILITIES|||5,960,310|6,197,331|5,949,004|6,217,670| |Creditors:
Amounts
falling due||||||| |after one year||17|2,283,319|2,491,868|2,283,319|2,491,868| |Provisions
for liabilities||18|335910|380480|335910|380,480| |TOTAL NET ASSETS|||3,341,081|3,324,983|3,329,775|3,345,322| |RESERVES||||||| |UNRESTRICTED FUNDS||||||| |Designated
8r general|reserves|19|3,325,738|3,341,285|3,325,738|3,341,285| |Non-charitable
trading|reserves|19|11,306|(20,339)||| ||||3,337,044|3,320,946|3,325,738|3,341,285| |RESTRICTED FUNDS||19|4,037|4,037|4,037|4,037| |TOTAL RESERVES|||3,341,081|3,324,983|3,329,775|3,345,322| |Ul
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lO| ||||||IS|III|I—|IS|(D||IS| ## ## ||Note||| |---|---|---|---| |||2023f|2022f| |OPERATING ACTIVITIES|||| |Net cash generated
from operations|22|126,476|59,276| |NET CASH GENERATED FROM OPERATING|||| |ACTIVITIES||126,476|59,276| |CASH FLOW FROM INVESTING ACTIVITIES|||| |Interest and dividends
received||14,356|13,550| |Payments
to acquire tangible
fixed assets||(187,089)|(85,596)| |NET CASH USED IN INVESTING|||| |ACTIVITIES||(172,733)|(72,046)| |CASH FLOW FROM FINANCING
ACTIVITIES|||| |Payments
to acquire fixed asset investments||(40,094)|(64,933)| |Receipts on sale of fixed asset investments||43,674|66,041| |Interest
paid||(25,047)|(20,879)| |Repayment
of borrowings||(31,273)|(30,833)| |NET CASH (USED IN)/FROM
FINANCING|||| |ACTIVITIES||(52,740)|(50,604)| |NET (DECREASE)/INCREASE
IN CASH AND|||| |CASH EQUIVALENTS||(98,997)|(63,374)| |CASH AND CASH EQUIVALENTS AT THE|||| |BEGINNING OF THE YEAR||959,032|1,022,406| |CASH AND CASH EQUIVALENTS AT END OF|||| |YEAR|23|860,035|959,032| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## # ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |Year to 31March 2023|||Operating| |---|---|---|---| |||Operating|surplus/| ||Turnover|costs|(deficit)| ||E|E|E| |Social Housing|2r145r945|(1997 105)|148,840| |Non Social Housing|||| |activities|1,374,350|(1,473,702)|(99,352)| |Total|3,520,295|(3,470,807)|49,488| |Year to3I March 2022|||Operating| |---|---|---|---| |||Operating|surplus/| ||Turnover|costs|(deficit)| |||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| ## ## ## ||NOTES TO THE FINANCIAL
|STATEMENTS (continued)|STATEMENTS (continued)|STATEMENTS (continued)| |---|---|---|---|---| |.|TURNOVER
COST OF SALES, OPERATING|COSTS AND OPERATING SURPLUS||| ||Particulars
of Group income and expenditure|from social housing|lettings|| |||General||General| |||Housing||Housing| |||2023||2022| |||E||| ||TURNOVER
FROM SOCIAL|||| ||HOUSING
LETIINGS|||| ||Rent receivable
net of voids|1096,880||1005,086| ||Service charges
receivable|495,423||458,891| ||NET RENTAL INCOME|1,592,303||1,463,977| ||Supporting
people contract|||| ||income|359,619||428,630| ||Other revenue
grants|49||639| ||Grant amortisation|193,974||213,986| ||TURNOVER
FROM SOCIAL|||| ||HOUSING
LETTINGS|2,145,945||2,107,232| ||EXPENDITURE ON SOCIAL|||| ||HOUSING
LETTINGS|||| ||Direct costs|1,822||| ||Staffing|1,033,332||990,999| ||Administration|203,774||173,384| ||Depreciation
and amortisation|176,869||194,641| ||Maintenance|45,422||20,761| ||Services|31,313||49,929| ||Service charge costs|504,573||425,833| ||OPERATING COSTS ON|||| ||SOCIAL HOUSING
LETTINGS|(1,997,105)||(1,855,547)| ||OPERATING
SURPLUS ON|||| ||SOCIAL HOUSING
LETTINGS|148,840||251,685| ||Rent losses on voids|50,195||77,417| |Supported
Housing
Accommodation||2023||2022| |owned and managed||No. of units||No. of units| |Let|at social rent|104||104| ## ## ## |he operati|ng|sur|plus
is|s|tated a|fter|charging/(crediti|ng):|| |---|---|---|---|---|---|---|---|---|---| ||||||||||Group| |||||||||2023|2022| |||||||||E|6| |Depreciation||of housing|||properties|||239,640|252,232| |Depreciation||of|other|tangible||fixed|||| |assets||||||||61,239|61,472| |Amortisation||of intangible|||fixed|assets||1,272|2,444| |Amortisation||of grants||||||(193,974)|(213,986)| |Auditor's||remuneration|||||||| |services)||||||||12,500|12,500| |Auditor's||remuneration|||(non-audit||||| |work)||||||||1,000|1,000| |Operating|lease||rentals|||||57,073|76,611| |Cost
of|stocks||recognised|||as|an||| |expense||||||||32,778|19,108| ## ## |NTERE|ST RECEIVABLE AND SIMILAR INCOM|E|| |---|---|---|---| ||||Group| |||2023|2022| |||6|6| |Interest|on bank deposits|39|12| |Income|from listed investments|14,317|13,538| |||14,356|13,550| ## ## ## ## ||||||Group| |---|---|---|---|---|---| |||||2023
f|2022
f| |YMCA pension||notional|finance charge (Note 18)|11,415|10,870| |Interest|on bank loan|||13,632|10,009| |||||25,047|20,879| ## ## |||||||2023
f|2022
f| |---|---|---|---|---|---|---|---| |Basic salary||||||271,671|260,584| |Pension|contributions|||||13,421|13,040| |||||||285,092|273,624| |||||||2023|2022| |Number|of Directors|accruing|benefits|in the|pension||| |scheme|||||||| |Emoluments|disclosed above include the following|disclosed above include the following|amounts|paid to the|highest| |---|---|---|---|---|---| |paid director:|||||| |||||2023f|2022f| |Emoluments|for qualifying|services||107,822|113,700| |Pension contributions||||6,775|6,642| ## ## ## |||||||||2023|2022| |---|---|---|---|---|---|---|---|---|---| |||||||||No.|No.| |Average|number||of|persons|(including|part-time|||| |employees|and|the|Chief Executive||but excludes||Casual||| |Staff) employed||during||the year||||74|74| |Full time|equivalent||(40 hours per week)|||||61|65| ## |here were f58 travel expenses
reclaimed
by
NTANGIBLE FIXED ASSETS|Board members
in 2023. (2022: EO)| |---|---| |Group and Association|Website costsf| |Cost|| |At 1 April 2022|12,204| |Additions|16,916| |At 31 March 2023|29,120| |Amortisation|| |At 1 April 2022|12,204| |Charge for the year|1,272| |At 31 March 2023|13,476| |Net Book Value|| |At 31 March 2023|15,644| |At 31 March 2022|| ## ## ## |ANGIBLE FIXEDASSE|ANGIBLE FIXEDASSE|TS||| |---|---|---|---|---| |Group and Association||||Social Housing
Properties| |||||held for lettingf| |Cost||||| |At 1 April 2022||||7,486,285| |Properties
acquired||||| |Works to existing|properties|||| |Disposals —component||write-off||| |At 31 March 2023||||7,486,285| |Depreciation||||| |At 1 April 2022||||4,119,692| |Charge for the year||||239,640| |Eliminated
on disposals||—component|write-off|| |At 31 March 2023||||4,359,332| |Net BookValue||||| |At 31 March 2023||||3,126,953| |At 31 March 2022||||3,366,593| |Depreciation|charge for the year||2023|2022f| |---|---|---|---|---| |Annual
depreciation
charge|||239,640|252,232| |Accelerated|depreciation
on component|write||| |off||||| ||||239,640|252,232| ## ## |11.|TANGIBLE FIXED ASSETS|(continued)|||||| |---|---|---|---|---|---|---|---| ||Group|Freehold||Furniture|||| |||Land|Br|Fixtures|Ik||| |||Buildingsf||Fittingsf||Lift|TOTAL| ||COST||||||| ||At 1 April 2022|918,914||641,758||299,936|1,860,608| ||Additions|||170,173|||170,173| ||Disposals||||||| ||At 31 March 2023|918,914||811,931||299,936|2,030,781| ||DEPRECIATION||||||| ||At 1 April 2022|789,727||420,940||299,936|1,510,603| ||Charge for the year|18,764||42,475|||61,239| ||Disposals||||||| ||At 31 March 2023|808,491||463,415||299,936|1,571,842| ||NET BOOK VALUE||||||| ||At 31 March 2023|110,423||348,516|||458,939| ||At 31 March 2022|129,187||220,818|||350,005| ||Association|Freehold||Furniture|||| |||Land
8i.||Fixtures
fk|||| |||Buildingsf||Fittingsf||Liftf|TOTALf| ||COST||||||| ||At 1 April 2022|918,914||602,034||299,936|1,820,884| ||Additions|||169,903|||169,903| ||Disposals||||||| ||At 31 March 2023|918,914||771,937||299,936|1,990,787| ||DEPRECIATION||||||| ||At 1 April 2022|789,727||406,140||299,936|1,495,803| ||Charge for the year|18,764||39,302|||58,066| ||Dlsposals||||||| ||At 31 March 2023|808,491||445,442||299,936|1,553,869| ||NET BOOK VALUE||||||| ||At 31 March 2023|110,423||326,495|||436,918| ||At 31 March 2022|129,187||195,894|||325,081| ## ## ## |Group and Association|2023f|2022f| |---|---|---| |At 1 April|1,570,000|1,570,000| |Increase
in fair value||| |At 31 March|1,570,000|1,570,000| ## ## ## |ding
results|is shown
bel|ow:|||| |---|---|---|---|---|---| |||||2023f|2022f| |Profit and loss account|||||| |Turnover||||93,394|53,099| |Cost of sales||||(52,336)|(30,999)| |Gross profit/(loss)||||41,058|22,100| |Administrative|expenses|||(9,413)|(8,763)| |Profit/(Loss)|on ordinary|activities|before and after tax|31,645|13,337| |and retained|||||| |Capital and|reserves|||11,307|(20,339)| ## ## ## ## ||||2023f|2022f| |---|---|---|---|---| |Group and Association||||| |Other investments|—listed at fair value|||| |At 1 April|||465,457|444,265| |Additions|||40,094|64,933| |Disposals|||(43,674)|(66,041)| |Realised
gain on disposal|||1,399|20,841| |Unrealised
gain/(deficit)|||(24,098)|1,459| |At 31 March|||439,178|465,457| |Historical cost|||373,763|376,027| |STOCKS||||| ||Group
2023|2022f|Association
2023
2022
f
f|| |Goods for resale|3,817|4,781||| |DEBTORS||||| ||Group
2023|2022f|Association
2023
2022
f
f|| |Housing
debtors
Other trade debtors|231,023
107,293|158,897
151,593|231,023
107,293|158,897
151,593| |Bad debt provision|(18,940)|(18,940)|(18,940)|(18,940)| |Amount
owed from||||| |subsidiary
company
Other debtors|2,517|6,659|14,190
2,517|79,835
6,659| |Prepayments
&accrued||||| |income|40,294|55,053|40,294|55,053| ||362,187|353,262|376,377|433,097| ## ## ## |16.|CREDIT|ORS Amounts|falling d|ue within|one year||| |---|---|---|---|---|---|---|---| |||||2023|Group
2022|Association
2023
2022|| ||||||E|E|E| ||Trade creditors|||227,054|285,541|220,983|281,363| ||Bank loan|||20,976|30,270|20,976|30,270| ||Taxation
Accruals|8r Social Security||(2,500)
91,346|54,319
78,154|(5,343)
91,346|52,064
76,904| ||Deferred|income||339,209|223,418|339,209|223,418| ||Other creditors|||9,906|2,241|6,426|10| ||Deferred|capital grant (see note||190,452|197,856|190,452|197,856| ||17)||||||| |||||876,443|871,799|864,049|861,885| |17.|CREDITORS Amounts||falling due after one year||||| |||||Group
2023
2022||Association
2023
2022|| |||||||E|E| ||Bank loan|||269,885|291,864|269,885|291,864| ||Deferred|capital grant||2,013,434|2,200,004|2,013,434|2,200,004| |||||2,283,319|2,491,868|2,283,319|2,491,868| ||The bank loan is secured||by a legal|charge over 7 East Street Leicester,|||LE1 6EY.| |||||||Group and|Association| ||Deferred|capital grant||||2023|2022| |||||||E|E| ||As at 1 April|||||2,397,860|2,611,846| ||Amortisation|||||(193,974)|(213,986)| ||As at 31 March|||||2,203,886|2,397,860| ||Less: due|in less than one year||||(190,452)|(197,856)| ||Due after|more than one|year|||2,013,434|2,200,004| |||||||Group and|Association| ||Bank Loan|||||2023|2022| |||||||E|E| ||Amounts|falling due by instalments||after more than|||| ||five years|||||89,523|142,516| ## ## |NOT|NOT|NOT|ES|TO THE FINANCIAL
STA|TEMENTS (continued)|| |---|---|---|---|---|---|---| |18.PENSION PROVISION||||||| |Group|and|Association|||YMCA|Pension| ||||||2023|2022| ||||||E|E| |1 April|||||380,480|362,317| |Paid
in|the|year|||(55,985)|(46,648)| |Unwinding||of discount||(Note 7)|11,415|10,870| |Change|in|funding|deficit arrangements|||53,941| |31 March|||||335,910|380,480| ||GI
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I0I-| ## ## ## ## ## ## ||organisation.
At 31 March 2
leases were as follows:|0|23 the|total f|uture|co|mmitm|ent|s
un|der
non-canc|ellable
oper| |---|---|---|---|---|---|---|---|---|---|---|---| ||Group and Association||||||||||| |||||||||||Other|| |||||||||||2023f|2022| ||Within one year|||||||||88,416|72,103| ||Within
2 to 5 years|||||||||540,747|141,939| |||||||||||629,163|214,042| |22.|RECONCILIATION
OF SURPLUS AFTER||||TAX|TO|NET|CASH|||| ||GENERATED FROM OPERATIONS||||||||||| |||||||||||2023f|2022f| ||Surplus
for the year|||||||||16,098|161,290| ||Adjustments
for:||||||||||| ||Depreciation
of tangible||fixed assets||||||300,879||313,704| ||Amortisation
of intangible||fixed assets|||||||1,272|2,444| ||Grant amortisation||||||||(193,974)||(213,986)| ||Interest
and dividends|receivable|||||||(14,356)||(13,550)| ||Interest
payable|||||||||25,047|20,879| ||Accelerated
depreciation||||||||||| ||Fair value deficit/(gain)|on investments||||||||22,699|(22,300)| ||Operating
cash
flow|before||movements||in|working||157,665||248,481| ||capital||||||||||| ||Decrease/(Increase)
in|stocks||||||||964|(3,731)| ||(Increase)
in debtors
Increase
in creditors|||||||||(8,925)
21,342|(208,288)
4,651| ||(Decrease)/Increase
in|provisions|||||||(44,570)||18,163| ||Cash generated
from|operations|||||||126,476||59,276| |23.|CASH AND CASH EQUIVALENTS||||||||||| |||||||Group
2023
f|||2022
f|Association
2023
2022
f
f|| ||Cash and cash equivalents||represent:||||||||| ||Cash at bank||||860 035|||959032||847 982|919~327| ## ## ## |||At I April|Cash
flows|Other
non-cash
changes|At 31
March| |---|---|---|---|---|---| |||2022|||2023| ||||||E| |Cash and cash|equivalents||||| |Cash||959,032|(98,997)||860,035| |||959,032|(98,997)||860,035| |Borrowings|||||| |Bank loan|||||| |Debt due within|1 year|(30,270)|9,294||(20,976)| |Debt due after 1year||(291,864)|21,979||(269,885)| |||(322,134)|31,273||(290,861)| |Total||636,898|(67,724)||569,174| ##