| Contents | Page | |
|---|---|---|
| Officers and Advisers | ||
| Board Report incorporating the Strategic Report |
||
| and Value for Money | statement | 2-9 |
| Independent Auditors' |
Report | 11- 13 |
| Statement of Comprehensive Income |
||
| Statement of Finandal | Position | 15 |
| Statement of Changes | in Reserves | 16 |
| Statement of Cash Rows | 17 | |
| Notes to the Rnancial | Statements | 18 —26 |
| YMCA St Helens | YMCA St Helens | YMCA Crewe | |||||||
|---|---|---|---|---|---|---|---|---|---|
| 2021-22 | 2022-23 | 2023-24 | |||||||
| Actual | Target | Actual | Target | ||||||
| Re-investment N |
1.28% | 4.20% | 2.51% | 4.149o | 0.00% | ||||
| New Supply - social housing | N | 0.00% | 0.009o | 0.009o | 0.00% | 0.00%o | |||
| New Supply —non-social | housing | N | 0.009o | 0.00% | 0.00% | 0.009o | 0.009o | ||
| Gearing | -4.22N | -3.49N | -1.229o | -11.909o | |||||
| EBITDA-MRI mterest cover | 3361.11%o | 1687.73% | 1068.369o | 585.849o | 5,666.169o | ||||
| Headline social housing |
cost | per | unit | E10,189 | E11,508 | E11,012 | E12,691 | E12,956 | |
| Operating margin |
(social | housing | units) | 16.24% | 1142% | 16.93%o | 10.10% | 12.84%o | |
| Operating margin |
(overall) | 15.639o | 6.11% | 6.969o | 2.68% | 6.80% | |||
| Return on capital | employed | (ROCE) | 3.519o | 1.66% | 0.71% | 2.41%o |
| YMCA St Helens | YMCA St Helens | |||||
|---|---|---|---|---|---|---|
| 2021-22 | 2022-23 | 2023-24 | ||||
| Actual | Target | Actual | Target | |||
| Percentage | of rent collected | 98.2% | 98.53/o | 98.94% | 98.55/0 | |
| Voids and | bad debts percentage | 10.43% | 685% | 5 94% | 6.24% | |
| Customer | satisfaction | 969o | 100% | 97% | 100%o | |
| Throughput | ofresidents | 277% | 300% | 205% | 300%o | |
| Proportion | of planned | moves | 779' | 76% | 73% | 769o |
| Restated | |||||||
|---|---|---|---|---|---|---|---|
| Year Ended | Year Ended | ||||||
| Notes | 31-Mar-23 | 31-Mar-22 | |||||
| 6 | I | ||||||
| Turnover | 2,784,579 | 2,649944 | |||||
| Operating expenditure |
2 | 716602 | 2,432,273 | ||||
| 67,977 | 217,671 | ||||||
| Other income | |||||||
| Operating surplus |
249,380 | 414,296 | |||||
| Interest receivable | 7,062 | 3,123 | |||||
| Interest payable | and financing | costs | (32,328) | (16,508) | |||
| Surplus before | Taxation | ||||||
| Total comprehensive | income for the year | 400,911 |
| At | Restated At |
|||
|---|---|---|---|---|
| Notes | 31-Mar-23 | 31-Mar-22 | ||
| 6 | 5 | |||
| Fixed Assets | ||||
| Tangible fixed assets |
10 | 11,077,983 | ||
| 11,077,983 | 11,133,571 | |||
| Current Assets | ||||
| Trade and other debtors | 11 | 242,026 | 200,463 | |
| Cash and cash equivalents | 12 | 1,196,011 | ||
| 1,176,593 | 1,396,474 | |||
| Less: Creditors: | ||||
| Amounts falling due viithin one year |
13 | (589,481) | (709,850) | |
| Net Current Assets | 587,112 | 686,624 | ||
| Total Assets Less Current Liabilities | 11,665,096 | 11,820,195 | ||
| Creditors: | ||||
| Amounts falhng due alter |
more than one year | 13a | (6,644,987) | (7,025,210) |
| Tote Inet assets | 5,020,109 | 4,794,985 | ||
| Reserves | ||||
| income and expenditure | reserve | 20 | 5,020,109 | 4,794,985 |
| Total reserves | 5,020,109 | 4,794,985 |
| Income | and | 2023 | 2023 | 2022 | |
|---|---|---|---|---|---|
| expenditure | reserve | Total | Total | ||
| 6 | 6 | 6 | |||
| Restated at 1 April 2022 | 4,794,9&5 | 4,794,985 | 4,394,074 | ||
| Surplus for the year | 225,124 | 225,124 | 400,911 | ||
| At 31March 2023 | 5 | 020 109 | 5 | 020,109 |
| Restated | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Year Ended | Year Ended | ||||||||||
| 31-Mar-23 | 31-Mar-22 | ||||||||||
| I | |||||||||||
| Net cash flow from | operating | activities | 99,962 | 600,275 | |||||||
| Cash flow from Investing | acdvltles | ||||||||||
| Purchase of tangible | fixed assets | (188,047) | (90,918) | ||||||||
| Interest received | 7,062 | 3,123 | |||||||||
| (180,985) | (87,795) | ||||||||||
| Cash tlow from financlng | acthdtles | ||||||||||
| Interest pakl |
(30,419) | (16,522) | |||||||||
| New borrowings receored |
|||||||||||
| Repayrnant of borroviings |
(150,000) | (200,000) | |||||||||
| (180,419) | (216,522) | ||||||||||
| Net change in cash | and cash | equivalents | (261,442) | 295,958 | |||||||
| Cash and cash equivalents | at the beginning | ofthe year | 1,196,011 | 900,052 | |||||||
| Cash and cash equivalents | at the end ofthe | year | 934,569 | 1,196,011 | |||||||
| Year Ended | Year Ended | ||||||||||
| 31-Mar-23 | 31-Mar-22 | ||||||||||
| 6 | E | ||||||||||
| Cash flow from operating | activities | ||||||||||
| Surplus for the year | 225,124 | 400,911 | |||||||||
| Adjustments for non-cash |
items; | ||||||||||
| Depreciation of tangible |
fixed assets | 243,635 | 247,339 | ||||||||
| Amorbsabon ofgrant |
(109,906) | (109,906) | |||||||||
| Decrease in trade and other |
debtors | (41,563) | 60,927 | ||||||||
| (Decrease)/Increase | in | trade | and other | creditors | (112,416) | 32,906 | |||||
| Increase/(Decrease) | in | acouals | and deferred | lnmme | (83,168) | 5,IH3 | |||||
| Increase/(Decrease) | in | pension | creditor | (46,001) | (51,130) | ||||||
| Adjustments for investing |
or fiinandng | activities: | |||||||||
| interest payable |
31@18 | 16,508 | |||||||||
| interest receivable |
(7,062) | (3,123) | |||||||||
| Net cash generated | from | operating | acdvltles | 99,962 | 600,275 | ||||||
| At 01-Apr-22 | Cash flows | At 31-Mar-23 | |||||||||
| E | E | E | |||||||||
| Analysis ofchanges | in net debt | ||||||||||
| Cash | 1,196,011 | (261,444) | 934+67 | ||||||||
| Bank loans due within | one year | (150,000) | (150,000) | ||||||||
| Bank loans due greater | than | one year | (749,999) | 150,000 | (599,999) | ||||||
| Total | 296,012 | (111,444) | 184,568 |
| Turnover, | cost | ofsal | es, operating expenditure and operating su |
rplus | ||
|---|---|---|---|---|---|---|
| 2023 | ||||||
| Operating | Operating | |||||
| TUITI- | expendi- | sUIBIUs/ | ||||
| over | ture | (deficit) | ||||
| E | 6 | 6 | ||||
| Sodal housing | lmfings (note 3a ) | 1,843,193 | 1,531,119 | 312,074 | ||
| Other sodal housing | activities (note 3a) | |||||
| Suppordng | people | 240,192 | 240,192 | |||
| Actlvides other | than | sodal housing (note 3b) | ||||
| Letdngs | 182@99 | 121,585 | 59,814 | |||
| Nurmiy | 302,764 | 396,611 | (93,847) | |||
| Other | 398,432 | 427,096 | (28,664) | |||
| Total | 29 5 80 |
2716,602 | 249878 | |||
| Restated - 2022 | ||||||
| Operating | Opera bug |
|||||
| Turn- | expendi- | surplus | ||||
| over | tUIS | |||||
| E | 6 | |||||
| Social housing | lettings (note 3a) | 1,674,444 | 1,402,482 | 271,962 | ||
| Other sodal housfng | activities (note 3a) | |||||
| Supp o rung | people | 240,192 | 240,192 | |||
| Activities other | than | social housing (note 3b) | ||||
| Letbngs | 196,624 | 98,183 | 98,441 | |||
| NUIsery | 272,508 | 343,797 | (71,289) | |||
| Other | 462,802 | 347,620 | 115,183 | |||
| Total | 2,432 274 | 414,296 |
| Tangible | fixed assets | |||||||
|---|---|---|---|---|---|---|---|---|
| Housfrrg | Properties | Other Fixed Assets | Total | |||||
| Ecdaf Housulg | Rxlul A55et5 | |||||||
| Propertles | fw | Total | ||||||
| Lettmg | Houung | Fumres | and | Other Freehokl | ||||
| Completed | PIoparti 55 | Eon f ps | to IIt | land and Buildings | ||||
| E | E | E | E | |||||
| Cost | ||||||||
| At the start ofthe year | 7,704,824 | 7,704,824 | 459,040 | 6,484,752 | 24,648,616 | |||
| Addltkms | 55,506 | 188047 | ||||||
| At the end | of 0e year | 514546 | 6,484,752 | 14,836663 | ||||
| Depredation and impairment |
||||||||
| At the start ofthe year | 2,417,714 | 2,417,714 | 351,032 | 746,299 | 3,515,045 | |||
| Charge for the year | 133,591 | |||||||
| At the end | ofthe year | 551 | 305 | 2,551,305 | 3,758,680 | |||
| Net BookValue | ||||||||
| At the end | ofthe year | 11,077,983 | ||||||
| At the start of the year | 11,133571 | |||||||
| 2023 | 2022 | |||||||
| Housing | Properties comprises: | 6 | E |
| li. | Trade and other debtors | Trade and other debtors | 2023 6 |
2022 E |
|---|---|---|---|---|
| Rent arrears | 153,862 | 57,210 | ||
| Less: prowsion for bad debts |
||||
| 135,988 | 36,432 | |||
| Other debtors | 62,129 | 72,964 | ||
| Prepayments and accrued |
income | |||
| Debtors are all due within | one year. | |||
| 2023 | 2022 | |||
| 12. | Cash and cash equivalents | 6 | E | |
| Cash at bank and in hand | ||||
| 13. | Creditors: amounts falling |
due wrihin one year | 2023 | 2022 |
| 6 | E | |||
| Trade credkors | Bqrit26 | 120,211 | ||
| Rent in advance | 47,167 | 47,167 | ||
| Rents and sennce charges | paid in advance | 9,267 | 7,153 | |
| Taxatlon and sooal security | 27,681 | 32,141 | ||
| Accruals and deferred income |
116,570 | 198,833 | ||
| Deferred Capital Grants (Note 14) Pension liabgay (Note 10) |
108,716 30,860 |
108,716 31,220 |
||
| Obwr creditors | 14,394 | 14,409 | ||
| Bank Loans (Note lrib) | ||||
| 13a. | Creditors: amounts falling |
due in more than one year | 2023 | 2022 |
| 6 | E | |||
| Rent in advance | 377,334 | 424,500 | ||
| Provision for dilapidabon costs |
55,581 | |||
| Sinbng fund | 215,489 | 187,411 | ||
| Deferred Caprial Grant (Note 15) |
5,312,180 | 5,422,086 | ||
| Pension liability (Note 10) |
139,985 | 185,633 | ||
| Bank Loans (Note lab) | ||||
| 7,025,210 |
| Debt analysis | |||
|---|---|---|---|
| 2023 | 2022 | ||
| E | E | ||
| Loans repayable by |
instalments: | ||
| Wfthin one year | 150,000 | 150,000 | |
| In one year or more but less than two yeats | 150,000 | 150,000 | |
| In two years or more but less than five years | 449,999 | 450,MO | |
| In five years or more | 0 | ||
| Deferred capital grants | |||
| 2023 | 2022 | ||
| E | E | ||
| At the start ofthe year | 5,731,518 | 5,841,424 | |
| Released to income in |
the year | (109,906) | (109,906) |
| At the end ofthe year | |||
| Amount to be released |
in less than one year | 109,906 | 109,906 |
| Amount to be released |
in more than one year | 5,511,706 | 5,621,612 |
| 2023 6 |
2022I | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Not later than one year | 10,091 | 10,201 | ||||||||
| Later than one year and not | later than | five years | 9,575 | 16,463 | ||||||
| 17.Grant and financial assistance | ||||||||||
| 2023 E |
2022I | |||||||||
| The total accumulated government |
grant and financial assistance | received | ||||||||
| at 31 March: | ||||||||||
| Held as deferred grant - housing |
2,700,895 | 2,777,611 | ||||||||
| Held as deferred grant - other |
2,920,716 | 2,953,906 | ||||||||
| Recognised as income in the Statement | of Comprehensive | Income | - housing | 1,764,464 | 1,687,748 | |||||
| Recognised as income in the Statement | of Comprehensive | Income | —other | 517,316 | 484,126 | |||||
| 18.Capital Commitments | ||||||||||
| 2023 E |
2022I | |||||||||
| Capital expenditure that has |
been | contracted | for but | |||||||
| has not been provided for in the finandal statements |
||||||||||
| Capital expenditure that has |
been | approved | by the | |||||||
| Board but has not yet been | contracted | for | ||||||||
| 19.Related Party Transactions | ||||||||||
| During the current and previous year, there |
were no related | party | transactions | |||||||
| No remuneration was paid |
to any | trustee for services as a | trustee | |||||||
| 20. Prior Period Adjustment | ||||||||||
| 01-Apr-21 | 31-Mar-22 | |||||||||
| Reconciliation offunds |
Notes | E. | 6 | |||||||
| Funds as previously reported |
4,193,358 | 4,794,985 | ||||||||
| Adjustments arising: |
||||||||||
| Decrease in deferred capital |
grants | 200,716 | ||||||||
| Funds as restated | 4,794,985 | |||||||||
| Notes to restatement |
| Moveme | nt on Reserves |
||||||
|---|---|---|---|---|---|---|---|
| Restricted Reserve | Deslpnated Resenres |
Total | |||||
| Nadcod IDBery | Warnngkm | Future Major | |||||
| General | CommUAIIY Fuftd | YMCA | Repairs Reserve | ||||
| E | E | 6 | |||||
| Restated | At I April 2021 | 'I,125,442 | 101,760 | 166,872 | 4,394,074 | ||
| Surplus/(Delklt) for the year |
335,357 | 33,804 | 13,190 | 18,560 | 400,911 | ||
| Restated | At 31March 2022 | 4,460,799 | 33,804 | 114,950 | 185,432 | 4,794,985 | |
| Surplus/(Defi dt) fcv the year | 274,012 | 12,513 | (33,804) | (47,109) | 19r511 | 225,124 | |
| At 31 Mar«h 2023 | ~4734811 | ~22 513 | ~67 841 | ~204 944 | ~5020,209 |