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2022-03-31-accounts

Page Page
Report of the Management Board 1 to 20
Report of the Independent Auditors 21 to 24
Statement of Comprehensive Income 25
Statement ofChanges
in Reserves		 26
Statement of Financial Position 27
Statement of Cash Flows 28
Notes to the Statement of Cash Flows
Notes to the Financial Statements 30 to 53

Value Belief Behaviour
Aspirational We believe everyone
can be the best they		 Believe in the good in everyone.
Support every person to focus on their strengths.		 Support
can be and dream big every person to achieve positive outcomes.
dreams. Support every person to reach their full potential. Lead by
example.
Caring We believe everyone Show kindness.
should be cared for. Beempathetic,
Show an interest.
Beforgiving.
Give encouragement. Listen.
Be patient.
Empowering We believe we should Tolerant.
support
and encourage		 Positive.
people to take Persevere.
ownership
oftheir		 Provide a safe environment.
issues to enable them
to achieve positive
change.

IMPAKT Housing
8t		 Support reserves position; reserves position;
Fund Description Current Previous Year
Year
2021-22 2020-21 Inc/(Dec)
General
Fund		 f1,045,369 f796,029 31%
Designated-building fund-leased properties f305,660 f241,333 27%
Designated-building fund-owned properties f40,012 f24,467 64%
Other Designated funds f0 f.0 Nil
Total Unrestricted Funds (Reserves) F1,391,041 f1,061,830 31%
Restricted funds f52,166 f162,974 (68)%
Total Funds f1,443,207 F.1,224,804 18%
Annual
Operating		 Expenditure f4,390,408 f4,375,361 03%
Percentage of Unrestricted Reserves to 32% 24% 31%
Annual
Operating		 Expenditure

31.3.22 31.3.21
Notes
Turnover 16 4,645,954 4,592,641
Operating
costs		 8 (4,339,810) (4,328,635)
Other operating income 2 1,807
Operating
Surplus		 306,144 265,813
Donations 4,142 3,981
Interest receivable 2,897 5,354
Interest payable (50,598) (46,725)
Surplus forthe year 262,585 228,423
Total comprehensive income forthe year 27 262,585 228,423

Income & Restricted
Expenditure
Reserve		 Reserve TOTAL
6 8
At 1 April 2020 856,249 140,132 996,381
Surplus/Deficit from Statement of
Comprehensive Income 205,580 22,843 228,423
Total Comprehensive Income 1,061,829 162,975 1,224,804
Transfers
At 31 March 2021 1,061,829 162,975 1,224,804
Surplus/(Deficit) from Statement of
Comprehensive Income 335,644 (73,059) 262,585
Total Comprehensive Income 1,397,473 89,916 1,487,389
Transfers (6,432) (37,750) (44,182)
At 31 March 2022 1,391,041 52,166 1,443,207

31 MARCH 2022
312L22 31.3,21
Notes
FIXED ASSETS
Tangible assets 4,064,879 2,340,238
CURRENT ASSETS
Stocks 19 19,368 11,158
Debtors: amounts falling due within one year 20 352,427 607,492
Debtors: amounts falling due after more than
one year
Cash at bank and in hand		 20 3,400
1,184,478		 15,000
1,164,683
1,559,673 1,798,333
CREDITORS
Amounts
falling due within		 one year 21 (1,017,139) (917,645)
NET CURRENT ASSETS 542,534 880,688
TOTAL ASSETS LESS CURRENT LIABILITIES 4,607,413 3,220,926
CREDITORS
Amounts
falling due after		 more than one year 22 (3,164,206) (1,996,122)
NET ASSETS 1,443,207 1,224,804
FUNDS 27
Unrestricted
funds		 1,391,041 1,061,829
Restricted funds 52,166 162,975
TOTALFUNDS 1.440.207 1,224, 004

STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2022
31.3.22 31.3.21
Notes
Cash flows from operating activities
Cash generated
from operations		 811,790 555,913
Interest paid (50,827) (47,308)
Finance costs paid 748 599
Net cash provided
by operating
activities		 761,711 509,204
Cash flows from investing activities
Purchase oftangible fixed assets (1,887,314) (140,609)
Sale oftangible
fixed assets		 6,802
Interest received 2,897 5,354
Net cash provided
by (used		 in) investing activities (1,877,615) (135,255)
Cash flows from financing activities
Bank loan repayments
in year		 (65,369) (829,522)
New bank loans 1,977,514 783,834
Loans redeemed (768,820)
Capital repayments
on finance leases		 (7,626) (7,476)
Finance leases taken out during the year
Net cash (used in)/provided by financing activities 1,135,699 (53,164)
Change
in cash and cash equivalents		 in
the reporting
period		 19,795 320,785
Cash and cash equivalents at the
beginning
ofthe reporting		 period 1,164,683 843,898
Cash and cash equivalents at the end of
the reporting
period		 1,184,478 1,164,683

31.3.22 31.3.21
Net income forthe reporting period (as per the Statement of
Financial Activities) 262,585 228,423
Adjustments
for:
Depreciation
charges		 156,417 149,845
(Profit)/Loss
on disposal of fixed assets		 (694) 4,207
Interest received (2,897) (5,354)
Interest paid 51,346 47,324
Finance costs (748) (599)
Funds transferred
to		 F4YP Ltd (44,182)
Government
grants		 utilised in the year (25,044) (19,044)
Increase
in stocks		 (8,210) (131)
Decrease
in debtors		 266,665 1,769
Increase
in creditors		 2,134,066 933,307
New loans (1,977,514) (783,834)
Net cash provided by / (used in) operations 811,790 555,913

At 1.4.21 Cash flows Non-cash At 3'1.3.22
f, s 6 E
Cash and cash equivalents
Cash at bank
and
in hand		 1,164,683 19,795 1,184,478
Cash equivalents
1,164,683 19,795 1,184,478
Borrowings
Finance leases (27,766) 7,626 (20,140)
Debts falling due
within one year (51,817) (460,111) (511,928)
Debts falling due
after one year (1,393,439) (684,761) (2,078,200)
(1,473,022) (1,137,246) (2,610,268)
Total (308,339) (1,117,451) (1,425,790)

2.
STATEMENT OF		 2.
STATEMENT OF		 FINANCIAL ACTIVITIES FINANCIAL ACTIVITIES
31.3.22 31.3.21
Unrestdcted Restricted Total Total
funds funds funds funds
Notes
INCOME AND ENDOWMENTS FROM
Donations
and		 legacies 3 4,142 4,142 3,981
Charitable
activities
Housing
and supported		 costs 4,293,877 69,853 4,363,730 4,142,135
Trading 56,465 25,985 82,450 152,145
Non-housing 5,609 177,792 183,401 296,689
Other trading
activities		 4 16,373 16,373 1,673
Investment
income		 5 2,897 2,897 5,354
Other operating income 1,807
Total 4,379,363 273,630 4,652,993 4,603,784
EXPENDITURE ON
Raising funds 7 1,186 1,186 200
Charitable
activities
Housing and supported costs 3,720,105 78,400 3,798,505 3,802,854
Trading 204,878 36,001 240,879 222,869
Non-housing 117,551 232,288 349,839 349,438
Total 4,043,719 346,689 4,390,408 4,375,361
NET INCOME 335,644 (73,059) 262,585 228,423
Transfer offunds to Fun4YP Ltd 27 (44,182) (44,182)
Internal transfer offunds 27 (6,433) 6,433
Net movement in funds 329,211 (110,808) 218,403 228,423
RECONCILIATION
OF FUNDS
Total funds brought forward 1,061,830 'I62,974 1,224,804 996,381
TOTAL FUNDS CARRIED FORWARD 1,391,041 52,166 1,443,207 1,224,804

Comparatives
for t		 he Statemen t of Financial Act ivities
Unrestricted Restricted Total
funds funds funds
f.
INCOME AND ENDOWMENTS FROM
Donations
and legacies		 3,981 3,981
Charitable
activities
Housing
and supported		 costs 4,069,666 72,469 4,142,135
Trading 34,569 117,576 152,145
Non-housing 2,489 294,200 296,689
Other trading
activities		 1,673 1,673
Investment
income		 5,354 5,354
Other income 1,807 1,807
Total 4,119,539 484,245 4,603,784
EXPENDITURE ON
Raising funds 200 200
Charitable
activities
Housing
and supported		 costs 3,771,212 31,642 3,802,854
Trading 101,310 121,559 222,869
Non-housing 41,237 308,201 349,438
Total 3,913,959 461,402 4,375,361
NET INCOME 205,580 22,843 228,423
Internal
Transfer between funds
Net movement
in		 funds 205,580 22,843 228,423
RECONCILIATION OF FUNDS
Total funds brought forward 856,250 140,131 996,381
TOTAL FUNDS CARRIED FORWARD 1,061,830 162,374 1,224.804

3. DONATIONS
AND LEGACIES
31.3.22 31.3.21
Donations 4,142 3,981
4. OTHER TRADING ACTIVITIES
31.3.22 31,3.21
Fundraising
events		 4,346 1,279
Electricity and laundry
income		 358 303
Government
Apprentice		 scheme income 10,529
Other income and trading activities 1,142 91
16,373 1,673
5. INVESTMENT INCOME
31,3.22 31.3.21
Deposit account interest 2,897 5,354
INCOME FROM CHARITABLE ACTIVITIES
31.3.22 31.3.21
Activity
Room charges Housing and supported costs 3,636,534 3,478,206
Rent - Supported
lodgings		 Housing and supported costs 51,198 47,760
General
counselling
and		 support:
-Supporting
People		 Housing and supported costs 178,292 178,780
- Lodgings Housing and supported costs 29,872 29,951
Grants Housing and supported costs 69,853 72,469
Social Housing
Grant		 Housing and supported costs 25,044 19,044
Student placement fee Housing and supported costs (426) 2,634
Local Authority
support		 contracts - other Housing and supported costs 373,364 313,123
Grants Trading activities 25,985 117,756
Sale ofdonated
goods		 Trading activities 20,929 8,730
4mation sales 8t services (non-donated) Trading activities 35,535 25,838
Grants Non-housing 177,792 294,201
Contributions
to F4YP course		 Non-housing 5,609 1,988
Unrestricted
grant —TK		 Maxx Non-housing 500
Other training
income		 Non-housing 167
Other trading
income (Note 4)		 Other trading activities 16,373 1,673
Investment
income (Note		 5) 2,897 5,354
Other operating
income		 1,807
4,648,851 4,599,982

INCOME FROM CHARI INCOME FROM CHARI TABLE ACTIVITIES—continued TABLE ACTIVITIES—continued TABLE ACTIVITIES—continued
Included
in the figures		 for "Grants", above, are amounts received under both
national		 and local
government
initiatives		 in response to the global COVID-19 pandemic, as follows:
31.3.22 31.3.21
6
Bedford Borough Council Covid relief 7,905 85,241
WRAP Covid emergency fund 20,000
Coronavirus
Job Retention		 Scheme 26,678
Winter support
grant		 4,000
7,905 137,919
RAISING FUNDS
Raising donations and legacies
31.3.22 31.3.21
Fundraising
event		 costs 1,186 200
CHARITABLE ACTIVITIES COSTS
Support
Direct costs costs Totals
(Seenote 9)
6
Housing
and supported		 costs 3,781,396 17,109 3,798,505
Trading
activities		 239,794 1,085 240,879
Non-housing 348,263 1,576 349,839
4,369,453 19.770 4,389,223
Included
in the above are		 charges for Interest payable, as follows:
31.3.22 31.3.21
Mortgage
interest		 50,827 47,308
Finance charges (NPV) vehicles (748) (599)
Other interest 518 16
50,597 46,725

SUPPORT COSTS
Governance
costs
31.3.22 31,3.21
Housing
and supported		 costs 17,109 16,965
Trading activities 1,085 975
Non-housing 1,576 1,560
19,770 19,500
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
31.3.22 31.3.21
Auditors'
remuneration		 10,470 10,800
Auditors'
remuneration		 for non-audit work 9,300 8,700
Depreciation
- owned assets		 150,498 143,926
Depreciation - assets on hire purchase contracts and finance leases 5,919 5,919
Other operating
leases		 981,848 974,757
Surplus on disposal offixed assets 694 (4,207)
Bad debts 29,995 (2,041)
BOARD AND KEY MANAGEMENT PERSONNEL REMUNERATION AND BENEFITS
31.3.22 31.3.21
Key management
personnel		 remuneration 226,105 224,567
Key management
personnel		 pension contributions to money purchase 4,851 5,505
schemes
230,956 230,072

STAFFCOST S
31,3.22 31.3.21
Wages and salaries 1,642,970 1,605,216
Social security costs 140,371 135,234
Other pension costs 38,422 39,548
1,821.788 1,779,998
The average monthly number ofemployees during the year was as follows:
31.3.22 31.3.21
Management 3 4
Administration 10 10
Housing
and		 support 35 34
Trading 7 6
Training 2 2
Maintenance 7 8
Youth participation 2 4
Fundraising 1 1
Re-cycling 4 4
71 73
The number of employees whose employee benefits (excluding employer pension costs) exceeded
f60,000was:
31.3.22 31.3.21
f90,001 - f100,000 1
f80,00'I - f90,000
f70,001 - f80,000

INCOME F ROM LETTING5
31.3.22 31.3.21
Hostel rents receivable
excluding		 service charges 3,564,099 3,411,388
Service charges 120,647 114,111
Total hostel rents receivable 3,684,746 3,525,499
Hostel rent losses - voids (46,254) (47,293)
Total hostel rents receivable 3,638,492 3,478,206
Supported lodgings
—rents receivable		 51,198 47,760
Total rents receivable 3,689,690 3,525,966

SURPLUS/(DEFICIT)
ON		 HOUSING
31.3.22 31.3,21
INCOME
Total rents receivable 3,687,731 3,525,966
Support contracts —Housing 178,292 178,780
Support contracts —Domestic abuse and Refuges 373,364 313123
Support contracts- Lodgings 29,872 29,951
Total support
contracts		 581,528 521,854
Grants 69,853 72,469
Student placement
fees		 (426) 2,634
Social housing
grant		 25,044 19,044
Total charitable
income		 attributable to housing 4,363,730 4,141,967
Other income including donations 16,373 3,479
Total income attributable to housing 4,380,103 4,145,446
Costs including
allocated		 overheads (Note 8) 3,798,505 3,802,854
Surplus
on housing		 581,598 342,592

TURNOVER
31.3.22 31.3.21
Total reported turnover 4,652,993 4,602,109
Trading activities - other 1,673
4,652,993 4,603,782
SOCIAL HOUSING
GRANT
31.3.22 31.3.21
Social housing grant amortised during the year 25,044 19,044
Total amount amortised at the beginning ofthe year 514,213 495,169
Total amortised at the end ofthe year 539,257 514,213
Deferred social housing grant at the end ofthe year 438,053 438,053
Total amount ofsocial housing grant received 1,487,266 952,266

TANGIBLE FIXEDASSETS
Fixtures
Freehold and Motor
property fittings vehicles Totals
COST
At 1 April 2021 2,802,533 412,751 81,471 3,296,755
Additions 1,844,117 26,198 16,999 1,887,314
Disposals (671) (71,949) (15,432) (88,052)
At 31 March 2022 4,645,979 367,000 83,038 5,096,017
DEPRECIATION
At 1 April 2021 625,972 302,107 28,438 956,517
Charge for year 94,000 49,992 12,425 156,417
Eliminated
on disposal		 (671) (71,663) (9,462) (81,796)
At 31 March 2022 719,301 280,436 31,401 1,031,138
NET BOOK VALUE
At 31 March 2022 3,926,678 86,564 51,637 4,064,879
At 31 March 2021 2,176,561 110,644 53,033 2,340,238

Fixed assets, included in the above, which are held under finance leases are as follows;
Motor
vehicles
E
COST
At 1 April 2021 and 31 March 2022 45,080
DEPRECIATION
At 1 April 2021 7,876
Charge for year 5,919
At 31 March 2022 13,795
NET BOOKVALUE
At 31 March 2022 31,285
At 31 March 2021 37,204
19. STOCKS
31.3.22 31.3.21
Stocks 19,368 11,158

20. DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
Trade debtors 4,975 43,570
Rental debtors 193,567 191,657
Other debtors (529) 3,388
Value Added Tax 4,392 387
Accrued Income 46,125 192,969
Prepayments 103,897 175,521
352,427 607,492
Amounts
falling due after		 more than one year
Prepayments
and accrued		 income 3,400 15,000
Aggregate
amounts		 355,827 622,492
Rental debtors are net of bad debt provision ofE43,260 (2021:f37,851).
21. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
Bank loans and overdrafts (see note 23) 511,928 51,817
Finance leases (see note 24) 8,021 8,021
Trade creditors 45,288 335,734
Other creditors 104,806 71,024
Accruals and deferred income 317,351 432,004
Deferred
government		 grants 29,745 19,045
1,017,139 917,645
22. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.22 312k21
Bank loans (Note 23) 2,078,200 1,393,439
Hire purchase contracts and finance leases (see note 24) 12,119 19,745
Accruals and deferred income 155,623 163,930
Deferred government grants 918,264 419,008
3,164,206 1,996,122

An analysis ofthe maturity of loans is given below:
31.3.22 312L21
Amounts
falling due within one year on demand:
Bank loans 511,928 51,817
Amounts
falling between		 one and two years:
Bank loans - 1-2years 108,248 51,817
Amounts
falling due between		 two and five years:
Bank loans -2-5 years 1,969,952 1,341,622

Minimum
leas		 e payments
fall due as follo		 ws;
Finance leases
31.3.22 31.3.21
6
Net obligations repayable:
Within one year 8,021 8,021
Between one and five years 12,119 19,745
20,'140 27,766
Non-cancellable
operating leases
31.3.22 31.3.21
Within one year 915,684 968,952
Between one and five years 2,735,560 1,952,135
In more than five years 8,690,466 6,923,974
12,341,711 9,845,061
SECURED DEBTS
The following secured debts are included within creditors:
31.3.22 313.21
Bankloans 2,590,128 1,445,256
Finance leases 20,140 27,766
2,610,268 1,473,022

31.3.22 31.3.21
Unrestricted Restricted Total Total
funds funds Funds Funds
E
Fixed assets 4,064,876 4,064,876 2,340,238
Current assets 1,507,507 52,166 1,559,673 1,798,333
Current
liabilities		 (1,017,136) (1,017,136) (917,645)
Long term liabilities (3,164,206) (3,164,206) (1,996,122)
1,391,041 52,166 1843,207 1,224,804
27. MOVEMENT IN FUNDS
Net Transfers
movement between At
At 1.4.21 in funds funds 31.3.22
Unrestricted funds
General fund 791,037 334,458 (84,489) 1,041,006
Major Property Repairs Reserve 265,801 79,871 345,672
F4YP / Young People 1,815 (1,815)
Welcome packs 2,151 (629) 1,522
PIE Fund 2,841 2,841
Impakt Trust Fund
1,061,830 335,644 (6,433) 1,391,041
Restricted funds
F4YP / Young People (1) 30,332 10,763 3,087
Skills4 16,412 (10,743) 851 6,520
4mation-charitable 13,099 822 (7,275) 6,646
Retail (C OVID) (7,275) 7,275
Domestic Abuse projects 54,236 (38,597) 15,639
Food4 47,395 (44,550) 2,308 5,153
Housing
(inc,		 Furlough) 1,500 16,521 187 18,208
162,974 (73,059) 6,433 52,166
TOTAL FUNDS 1,224,804 262,585 1,443,207

Net
Incoming Resources Movement
resources expended in funds
6
Unrestricted funds
General fund 4,372,574 (4,045,179) 327,396
Young People 6,787 (4,972) 1,815
Impakt Trust Fund
4,379,362 (4,050,151) 329,211
Restricted funds
F4YP/ Young People 151,528 (181,860) (30,332)
Skills4 22,873 (32,765) (9,892)
4mation-charitable 18,080 (24,533) (6,453)
Domestic Abuse projects 16,576 (55,173) (38,597)
Food4 2,500 (44,742) 42,242
Housing 54,169 (37,461) 16,708
273,631 (384,439) (110,808)
TOTAL FUNDS 4,652,993 (4,434,590) 218,403
Comparative Net movement in funds
Net Transfers
Movement between
1.4.20 in funds funds At 31.3.21
Unrestricted funds
General fund 635,865 257,735 (97,571) 796,029
Major Property Repairs Reserve 219,002 46,799 265,801
F4YP (49,505) 49,505
Impakt Trust Fund 1,383 (2,650) 1,267
856,250 205,580 1,061,830

Net Transfers
Movement between
1.4.20 in funds funds At 31.3.21
f
Restricted funds
F4YP 81,995 (51,663) 30,332
Skills4 26,144 (9,732) 16,412
4mation-charitable 17,082 (3,983) 13,099
Domestic Abuse projects 12,160 42,076 54,236
Food4 47,395 47,395
Other 2,750 (1,250) 1,500
140,131 22,843 162,974
TOTAL FUNDS 996,381 228,423 1,224,804
Incoming Resources Movement
resources expended in funds
Unrestricted funds
General fund 4,027,447 (3,769,711) 257,736
F4YP 1,896 (51,401) (49,505)
Impakt Trust Fund (2,650) (2,650)
4,029,343 (3,823,762) 205,581
Restricted funds
F4YP 141,151 (191,330) (50,179)
Skills4 28,898 (41,115) (11,217)
4mation-charitable 117,576 (121,559) 3,983
Domestic Abuse projects 47,850 (5,773) 42,077
Food4 123,151 (75,757) 47,395
Restricted donations (other) 24,619 (25,869 (1,250)
484,245 (461,402) 22,843
TOTAL FUNDS 4,513,588 (4,285,164) 228,424

31.3.22 31.3.21
Financial assets - measured at amortised cost:
Debt instruments
Debtors 248,530 431,971
Financial liabilities —measured at amortised cost
Bank loans and overdrafts 2,590,128 1,445,256
Creditors —other 170,234 434,524
2,766,362 1,879,780