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2022-08-31-accounts

YORKSHIRE LADIES COUNCIL

(HOSTELS) LIMITED

DIRECTORS’ REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[ST] AUGUST 2022

YORKSHIRE LADIES COUNCIL (HOSTELS) LIMITED CONTENTS

Company information 1
Directors’ report 2-3
Reporting accountant’s report 4
Statement of comprehensive income 5
Balance sheet 6-7
Statement of change in reserves 8
Statement of cash flows 9
Notes to the cash flow statement 10
Notes to the financial statements 11-17
The following pages do not form part of the statutory accounts
Detailed income and expenditure account 18-20

Page 1

YORKSHIRE LADIES COUNCIL (HOSTELS) LIMITED COMPANY INFORMATION FOR THE YEAR ENDED 31[ST] AUGUST 2022

Directors
Mrs K M Hart
Mrs P C Hollis
Mrs S M Clarke
Mrs M Bradbury
Mrs G Roche
Mrs C Naylor
Mrs J Spencer
Mrs M J Pullan
Mrs S Shippey
Mrs V Saunders
Secretary
 Ms K Taylor
Company number 00547893 (England & Wales)
Charity Commission
Registered number 223653
Homes and Communities
Agency Registered number LH 1020
Registered Office Forest Hill
11 Park Crescent
Leeds
LS8 1DH
Reporting Accountant Thomas Coombs Limited
Chartered Accountants
3365 The Pentagon
Century Way
Thorpe Park
Leeds
LS15 8ZB

Page 2

YORKSHIRE LADIES COUNCIL (HOSTELS) LIMITED DIRECTORS REPORT FOR THE YEAR ENDED 31[ST] AUGUST 2022

The directors present their report and the financial statements for the year ended 31[st] August 2022.

PRINCIPAL ACTIVITY

The company’s principal activity continues to be a non-profit making charity, providing accommodation for elderly people.

PUBLIC BENEFIT

In setting and reviewing our aims the Board has given careful consideration to the Charity Commission’s guidance on public benefit.

DIRECTORS

The directors who served during the year were:-

Mrs K M Hart Mrs P C Hollis Mrs S M Clarke Mrs M Bradbury Mrs G Roche Mrs C Naylor Mrs J Spencer Mrs M J Pullan Mrs S Shippey Mrs V Saunders Mrs G Owen (Deceased 11 February 2022)

Page 3

YORKSHIRE LADIES COUNCIL (HOSTELS) LIMITED DIRECTORS REPORT FOR THE YEAR ENDED 31[ST] AUGUST 2022 (continued)

SMALL COMPANY RULES

These accounts have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

This report was approved by the board on 13[th] October 2022 and signed on its behalf by:

Mrs S M Clarke

Company number 00547893 (England & Wales)

Page 4

YORKSHIRE LADIES COUNCIL (HOSTELS) LIMITED

ACCOUNTANTS’ REPORT TO THE BOARD OF DIRECTORS ON THE UNAUDITED ACCOUNTS OF YORKSHIRE LADIES COUNCIL (HOSTELS) LIMITED

We report on the accounts of Yorkshire Ladies Council (Hostels) Limited for the year ended 31[st] August 2022 which are set out on pages 5 to 17.

Respective responsibilities of the Board of Directors and Reporting Accountants

The Board of the Yorkshire Ladies Council (Hostels) Limited is responsible for the preparation of the accounts, and they consider that the Yorkshire Ladies Council (Hostels) Limited is exempt from an audit. It is our responsibility to carry out procedures designed to enable us to report our opinion.

Basis of opinion

Our procedures consisted of comparing the accounts with the accounting records kept by the Yorkshire Ladies Council (Hostels) Limited, as Registered Social Housing Provider, and making such enquiries of the officers of the Yorkshire Ladies council (Hostels) Limited as we considered necessary for the purposes of this report. These procedures provide the only assurance expressed in our opinion.

Opinion

In our opinion:

Thomas Coombs Limited - Chartered Accountants

Reporting Accountants 3365 The Pentagon Century Way Thorpe Park Leeds LS15 8ZB

13[th] October 2022

Page 5

YORKSHIRE LADIES COUNCIL (HOSTELS) LIMITED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31[ST] AUGUST 2022

Notes 2022 2021
£ £
Turnover 217,815 208,993
Less: Operating costs (273,354) (199,310)
___ _____
Operating (deficit)/surplus 2 (55,539) 9,683
Interest receivable and other income 4 8,444 6,778
___ _____
(Deficit)/surplus on ordinary activities before 5 (47,095) 16,461
taxation
Tax on (deficit)/surplus on ordinary activities 6 - -
Unrealised
and
realised
gains/(losses)		 on 8 (23,980) 51,659
investments ___ _____
(71,075) 68,120
Revenue reserve brought forward 664,527 596,407
___ _____
Revenue reserve carried forward 593,452 664,527

The above results relate wholly to continuing activities

The notes on pages 11 to 17 form part of these financial statements.

Page 6

YORKSHIRE LADIES COUNCIL (HOSTELS) LIMITED BALANCE SHEET AS AT 31[ST] AUGUST 2022

2022
Notes
£
TANGIBLE FIXED ASSETS
Housing properties
575,808
Depreciation of housing properties
(286,380)
__
Other fixed assets
7
FIXED ASSET INVESTMENTS
Investments
8
CURRENT ASSETS
Stock
800
Debtors
9
3,088
Cash at bank and in hand
77,654
_
81,542
CREDITORS:
Amounts falling due within one year
10
(12,255)
_
NET CURRENT ASSETS
CREDITORS:
Amounts falling due after more than one year
11
TOTAL ASSETS LESS CURRENT LIABILITIES
CAPITAL AND RESERVES
Capital up share capital
12
Revenue reserves
– represented by tangible fixed assets
(and deferred income)
– represented by other assets (free reserves)		 2022
Notes
£
TANGIBLE FIXED ASSETS
Housing properties
575,808
Depreciation of housing properties
(286,380)
__
Other fixed assets
7
FIXED ASSET INVESTMENTS
Investments
8
CURRENT ASSETS
Stock
800
Debtors
9
3,088
Cash at bank and in hand
77,654
_
81,542
CREDITORS:
Amounts falling due within one year
10
(12,255)
_
NET CURRENT ASSETS
CREDITORS:
Amounts falling due after more than one year
11
TOTAL ASSETS LESS CURRENT LIABILITIES
CAPITAL AND RESERVES
Capital up share capital
12
Revenue reserves
– represented by tangible fixed assets
(and deferred income)
– represented by other assets (free reserves)		 2021
£
£
575,808
(269,821)
_
289,428
2,771
__
292,199
336,940
__
629,139
750_
4,011
119,382
_
124,143
(17,602)
___
69,287
(104,901)
__
593,525
73
182,423
411,029
_
593,525		 2021
£
£
575,808
(269,821)
_
289,428
2,771
__
292,199
336,940
__
629,139
750_
4,011
119,382
_
124,143
(17,602)
___
69,287
(104,901)
__
593,525
73
182,423
411,029
_
593,525		 £
305,987
6,237
_
312,224_
355,611
_
_667,835
106,541
(109,776)
_
664,600_
73
197,573
466,954
_
664,600

The notes on pages 11 to 17 form part of these financial statements.

Page 7

YORKSHIRE LADIES COUNCIL (HOSTELS) LIMITED BALANCE SHEET (Continued) AS AT 31[ST] AUGUST 2022

The directors consider that the company is entitled to exemption from the requirement to have an audit under the provision of s.477(1), of the Companies Act 2006. Members have not required the company under s.476 of the Companies Act 2006 to obtain an audit for the year ended 31[st] August 2022.

The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with s.386 and s.387 of the Companies Act 2006, and for preparing accounts which give a true and fair view of the state of affairs of the company as at 31[st] August 2022 and of its profits for the year ended in accordance with the requirements of s.396 and which otherwise comply with the requirements of the Act relating to the accounts so far as applicable to the company.

These financial statements were approved by the directors and authorised for issue by the Board on 13[th] October 2022

On behalf of the Board

Mrs K Hart Mrs S M Clarke Director Director

Company Number 00547893

The notes on pages 11 to 17 form part of these financial statements.

Page 8

YORKSHIRE LADIES COUNCIL (HOSTELS) LIMITED STATEMENT OF CHANGE IN RESERVES AS AT 31[ST] AUGUST 2022

At 31st August
2020
Surplus/(Deficit)
for the year
Share capital
issued
Dividends
At 31st August
2021
Surplus/(Deficit)
for the year
Total
comprehensive
income
Share capital
issued
Dividends
At 31st August
2022		 Called-up
share
capital
£
73
-
73
-
-
73
-
73
-
-
73		 Income and
expenditure
reserve
£
596,407
68,120
664,527
-
-
664,527
(71,075)
593,452
-
-
593,452		 Designated
reserve
£
-
-
-
-
-
-
-
-
-
-
-		 Total
£
596,480
68,120
664,600
-
-
664,600
(70,461)
593,525
-
-
593,525

The notes on pages 11 to 17 form part of these financial statements.

Page 9

YORKSHIRE LADIES COUNCIL (HOSTELS) LIMITED STATEMENT OF CASH FLOWS AS AT 31[ST] AUGUST 2022

Note
Cash (outflow) from operating activities
1
Net cash (outflow) from operating activities
Cash inflow (outflow) from investing activities
Payments to acquire tangible fixed assets
Payments to acquire investments
Receipts from sales of investments
Interest received and other income
Dividends received
Net cash inflow (outflow) from investing activities
Net (decrease)/increase in cash and cash equivalents
Cash and cash equivalents at the beginning of the reporting period
Cash and cash equivalents at the end of the reporting period		 2022
£
(44,863)
(44,863)
-
(30,474)
25,165
1,083
7,361
3,135
(41,728)
119,382
77,654		 2021
£
29,141
29,141
-
(34,165)
28,885
180
6,348
1,248
30,389
88,993
119,382

Page 10

YORKSHIRE LADIES COUNCIL (HOSTELS) LIMITED NOTES TO THE CASH FLOW STATEMENT AS AT 31[ST] AUGUST 2022

1. Reconciliation of operating surplus to cash (outflow) from operating activities

Surplus/(deficit) for the year
Depreciation and impairment of tangible fixed assets
Investment income
(Gains)/Loss on investments
(Increase) / decrease in trade and other debtors
Increase / (decrease) in trade and other creditors
(Increase) / decrease in stock
Net cash (outflow) from operating activities		 2022
£
(71,075)
20,025
(8,444)
23,980
923
(10,222)
(50)
(44,863)		 2021
£
68,120
20,448
(6,528)
(51,659)
(1,046)
(194)
-
29,141

The notes on pages 11 to 17 form part of these financial statements.

Page 11

YORKSHIRE LADIES COUNCIL (HOSTELS) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] AUGUST 2022

1 Accounting policies

The company is incorporated under the Companies Act 2006 and is a registered Charity under the Charities Act 2011 and a registered provider of Social Housing. The company is limited by shares incorporated in England & Wales within the United Kingdom. The address of the registered office is given in the company information on page 1 of these financial statements.

(a) Accounting basis

The financial statements have been prepared in accordance with applicable accounting standards including Financial Reporting Standard 102 The Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS 102), the Statement of Recommended Practice for Social Housing Providers 2014, and with the Accounting Direction for private registered providers of social housing in England 2015. The financial statements are also prepared under the requirements of the Housing and Regeneration Act 2008 and the Companies Act 2006. The financial statements have been prepared on a going concern basis under the historical cost convention. The financial statements are prepared in sterling, which is the functional currency of the RP, and rounded to the nearest £1.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

(b) Turnover

Turnover is measured at the fair value of the consideration received or receivable net of trade discounts. The policies adopted for the recognition of turnover are as follows:

Turnover represents rental and service charges income receivable in the year, net of rent and service charges and losses from voids, together with sundry rental income and charges.

(c) Income from investments

With the exception of bank interest this is credited in the accounts as received.

(d) Fixed assets and depreciation

Tangible fixed assets, except freehold land, are stated at cost, less accumulated depreciation. Depreciation is charged on a straight line basis over the expected economic useful lives of the assets at the following annual rates:

Housing properties 2% - 5%
Property and office furniture and equipment 10% - 20%

The useful economic lives of all tangible fixed assets are reviewed annually.

(e) Housing properties

Tangible fixed assets (including social housing properties) are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended such as the cost of acquiring land and buildings, developments costs, interest charges on loans during the development period and expenditure on improvements. Expenditure on improvements will only be capitalised when it results in incremental future benefits such as increasing rental income, reducing maintenance costs or resulting in a significant extension of the useful economic life of the property.

Page 12

YORKSHIRE LADIES COUNCIL (HOSTELS) LIMITED NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31[ST] AUGUST 2022

(f) Works to existing housing properties

Works are charged to the income and expenditure account unless they result in an enhancement of the economic benefits of the property in excess of the previously assessed standard of performance. This is measured by an increase in the net rental income, including a reduction in maintenance costs or result in a significant extension of the useful economic life of the property.

(g) Social housing grant

The grant is held as deferred income within creditors and released over the estimated useful life of the assets to which it relates. SHG received for items of cost written off in the Income and Expenditure account is matched against those costs as part of turnover. SHG can be recycled by the RSL under certain conditions if a property is sold, or if another relevant event takes place. In these cases the SHG can be used for projects approved by the Homes and Communities Agency. However SHG may have to be repaid if certain conditions are not met. In certain circumstances, SHG may be repayable, and, in that event is a subordinated unsecured repayable debt.

(h) Investments

Current and fixed asset investments are included at market value. All losses and gains are taken direct to the income and expenditure account (adjusted for other recognised gains and losses) as they arise.

Realised gains and losses on investments are calculated as the difference between sales proceeds and the opening market value (purchase date if later). Unrealised gains and losses are calculated as the difference between market value at the year end and opening market value (or purchase date if later).

(i) Value Added Tax (VAT)

Irrecoverable VAT which can be attributed to a capital item or revenue expenditure is added to the cost of the capital item or expenses where practicable and material.

(j) Pension costs

The company contributes to defined contribution pension schemes including the National Employment Savings Trust (NEST) scheme. Contributions payable to the schemes are charged to the income and expenditure account in the period to which they relate.

(k) Judgements in applying accounting policies and key sources of estimation uncertainty

No significant judgements have been made in applying the accounting policies adopted.

(l) Stocks

Stock is stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition.

(m) Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income in other administrative expenses.

Page 13

YORKSHIRE LADIES COUNCIL (HOSTELS) LIMITED NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31[ST] AUGUST 2022

2. Operating (deficit)/surplus

Operating (deficit)/surplus
2022 2021
£ £ £ £
General needs housing
Rent receivable net of identifiable service 133,797 129,121
charges
Service charge income 83,529 80,350
Other support services 11,728 13,642
(including lunches and dinners)
_ ___
Gross rent receivable 229,054 223,095
Less voids (12,161) 216,893 (14,247) 208,848
______ ___
Other rental income
Guest room 798 70
Yorkshire Ladies office 60 60
Wayleave 5 5
Sundry income 59 922
 10 145
__ _ ____ ___
Turnover – lettings 217,815 208,993
_ ___
Operating costs – lettings
Management 63,624 63,114
Service charge costs (including food) 89,763 94,322
Routine and planned maintenance 108,283 30,190
Depreciation of freehold property 16,559 16,559
Release of social housing grant for property (4,875) (4,875)
_ ___
(273,354) (199,310)
___ _____
Operating surplus/(deficit) – lettings (55,539) 9,683

Page 14

YORKSHIRE LADIES COUNCIL (HOSTELS) LIMITED NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31[ST] AUGUST 2022

3. Employee information

Total average weekly number of persons
employed during the year was:-
Office staff
Supervisor & household staff
Staff costs (for the above persons)
Wages and salaries
Social security costs
Pension costs		 2022
£
2
3
__
5
2022
£
68,764
-
3,702
__
72,466		 2021
£
2
3
____
5
2021
£
74,263
-
3,532
____
77,795

The key management personnel are considered to be the board of directors. No remuneration was received by the directors in either the current or previous year.

No employee earned more than £60,000 in either the current or previous year.

4. Interest receivable and similar income
Interest receivable
Donations, fund raising events and Trust income
Dividends received
5. Surplus/(Deficit) on ordinary activities before taxation
Surplus/(Deficit) on ordinary activities before taxation is stated after charging:-
Depreciation of tangible owned fixed assets		 2022
£
814
269
7,361
__
8,444
2022
£
20,025		 2021
£
180
250
6,348
____
6,778
2021
£
20,448

6. Taxation

The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.

Page 15

YORKSHIRE LADIES COUNCIL (HOSTELS) LIMITED NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31[ST] AUGUST 2022

7. Tangible fixed assets

7. Tangible fixed assets
Cost
1stSeptember 2021
Additions
Disposals
31st August 2022
Depreciation
1stSeptember 2021
Charge for the year
Elimination on disposals
31st August 2022
Net book value
31st August 2022
31st August 2021		 Housing
Land and
Buildings
For Letting
£
575,808
-
-
_
575,808
___
269,821
16,559
-
_____
286,380
___
289,428
305,987		 Fixtures
and
Fittings
£
115,453
-
-
_
115,453
__
109,216
3,466
-
__
112,682
__
2,771
_6,237		 Total
£
691,261
-
-
_
691,261
___
379,037
20,025
-
_
399,062
___
292,199
312,224

The cost of the freehold land has been estimated at £500.

Page 16

YORKSHIRE LADIES COUNCIL (HOSTELS) LIMITED NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31[ST] AUGUST 2022

8. Investments: long term 2022 2021
£ £
Quoted investments:
Market value at 1stSeptember 2021 355,611 298,673
Additions 35,095 28,053
Disposals (26,640) (25,513)
Net unrealised gains (losses) (22,505) 48,287
Movement in cash at bank awaiting re-investment (4,621) 6,111
(2022 : £20,515 2021 : £25,136)
__ ____
Market value at 31stAugust 2022 336,940 355,611

The investments are held in a portfolio consisting of 30 individual holdings together with cash awaiting reinvestment.

The investments representing more than 5% of the portfolio value are Old Mutual UK Alpha U1 Inc. Nav, Artemis Fund Managers Income Institutional, Brown Advisory Funds North American, Findlay Park Funds American Sterling and J P Morgan US Equity.

9. Debtors
Rental debtors
Prepayments
Other debtors
There were no rent losses in the current or previous years.
10. Creditors – amounts falling due within one year
Accruals
Other creditors
Deferred income
11. Creditors – amounts falling due after more than one year
Deferred income		 2022
£
33
2,915
140
__
3,088
2022
£
5,747
1,633
4,875
__
12,255
2022
£
104,901		 2021
£
116
2,913
982
____
4,011
2021
£
12,722
5
4,875
____
17,602
2021
£
109,776

Page 17

YORKSHIRE LADIES COUNCIL (HOSTELS) LIMITED NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31[ST] AUGUST 2022

12. Share capital
Authorised ordinary shares of £1 each
Allotted, issued and fully paid ordinary shares of £1 each		 2022
£
100
£
73		 2021
£
100
£
73

The shares provide members with the right to vote at General Meetings but do not carry any rights to a dividend or to distribution on a winding up.

13. Future major projects

The directors anticipate the need for the following funds for future major projects with replacement cycles between ten and fifty years. The directors have ear-marked an element of the revenue reserves to cover these amounts.

Future major works Future major works
2022 2021
£ £
Balance brought forward 155,075 150,850
Additional provision required 4,225 4,225
Relating to projects completed in the year (48,800) -
_____ _______
Balance carried forward 110,500 155,075

14. Ultimate parent undertaking

The company is a subsidiary of the Yorkshire Ladies Council of Education (Incorporated) a company incorporated in England, Registered charity number 529714.

15. Capital commitments

There were no capital contracts committed to, or authorised by the board, at the year end.

Page 18

YORKSHIRE LADIES COUNCIL (HOSTELS) LIMITED DETAILED INCOME & EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31[ST] AUGUST 2022

2022 2021
£ £ £ £
Rents & services receivable
Rent 133,797 129,121
Service charges 83,529 80,350
Less: voids (12,161) (14,247)
__ ____
205,165 195,224
Guest room 798 70
Office 60 60
Wayleave 5 5
Lunches & dinners 11,727 13,624
Sundry income 60 10
___ _____
217,815 208,993
Employee costs
Office manager (including NIC & Pension) 35,378 35,888
Finance officer 7,707 7,540
Residents support supervisor (including NIC & Pension) 19,441 16,470
Senior housekeeper (including NIC & Pension) 6,998 8,043
Ancillary staff (including NIC & Pension) 7,170 7,748
Employers NIC allowance (4,228) (3,769)
Staff Training 738 -
Agency Staff - 5,875
__ ____
73,204 77,795
__ ____

Page 19

YORKSHIRE LADIES COUNCIL (HOSTELS) LIMITED DETAILED INCOME & EXPENDITURE ACCOUNT (Continued) FOR THE YEAR ENDED 31[ST] AUGUST 2022

Operating costs 2022 2021
£ £ £ £
Rates – void flats 3,443 3,364
Rates – warden room 1,422 1,373
Rates – communal rooms 785 1,170
Light & heat 38,522 40,902
Insurance 7,264 5,728
General maintenance 77,763 15,411
Planned maintenance 5,090 3,960
Void flats repairs 25,430 10,819
Alarm, entry system & lifts 3,884 3,735
Gardening 3,677 2,863
Window cleaning 775 274
Cost of food & drink 4,737 5,788
Sundry household costs 816 929
Depreciation of freehold property 16,559 16,559
Release of social housing grant (4,875) (4,875)
Depreciation of fixtures & fittings 3,466 3,889
__ ____
261,962 111,889
__ ____

Page 20

YORKSHIRE LADIES COUNCIL (HOSTELS) LIMITED DETAILED INCOME & EXPENDITURE ACCOUNT (Continued) FOR THE YEAR ENDED 31[ST] AUGUST 2022

Administration costs
£
Telephone
1,781
Printing, post & stationery
606
Advertising & website
197
Computer expenses
1,738
Travel & subsistence
24
Independent examination and accountancy
2,482
Professional fees
Investment portfolio management fees
486
2,117
NFHA subscription
997
Bad debt write off
-
Sundry expenses
965
_
11,393
_
Rent losses from bad debts
-
_
(Deficit)/surplus before other income
Other income
Bank and other interest receivable
Dividend received
814
7,361
Trust Income
269
Donations, gifts and bequests
-
_
_
Net (deficit) for the year (before unrealised and realised gains
and losses)		 2022
£
£
1,501
822
-
1,735
-
2,334
478
1,070
989
(2)
699
_
9,626_
______
(273,354)
-
_
(55,539)
180_
6,348
250
8,444
-
_
______
____
(47,095)		 2021
£
(199,310)

9,683
6,778
_
_16,461