YHN Annual Report 2009-10 - Your Homes Newcastle

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Financial accounts Notes to the financial statements at 31 March 2010 15. Notes to the cash flow statement (continued) Capital expenditure 2010 2009 £’000 £’000 Fixed assets (2,688 ) - Capital grant income 4,008 - 1,320 - Returns on investing and servicing of finance (53 ) (51 ) Increase in cash 38 (1 ) b) Reconciliation of net cash flow to movement in net funds 2010 2009 £’000 £’000 Increase in cash in year 38 (1 ) Change in net debt resulting from cash flows 38 (1 ) Net funds at start of year 2 3 Net funds at end of year 40 2 c) Analysis of changes in net funds At 31 Cash At 31 March 2009 flows March 2010 £’000 £’000 £’000 Cash 2 38 40 Net funds 2 38 40 page 40
Financial accounts Notes to the financial statements at 31 March 2010 16. Related party disclosures Your Homes Newcastle Limited is a local authority controlled company of Newcastle City Council established with no share capital and limited by guarantee. The Council has delegated responsibility for overseeing the management and maintenance of its residential stock, and of Housing Revenue Account services provided to the City’s housing tenants. £30.1m was earned from the Council in management fees in relation to these activities throughout the year (2009: £29.4m). In addition, transactions totalling £4.7m took place with Newcastle City Council (2009: £1.3m). This related to support services such as temporary staffing, general office supplies, legal services, human resources management, IT, exchequer services and other centrally administered services. These transactions are included within operating costs. With the exception of petty cash transactions, all cash book payments and receipts are made via Newcastle City Council’s banking intermediaries with the net balance owing to or from the City Council being disclosed as a current asset or liability as appropriate. Leazes Homes Limited is a charitable subsidiary wholly owned by Your Homes Newcastle Limited. In 2009- 10 transactions totalling £38k took place between Your Homes Newcastle and Leazes Homes Limited. This was related to a gift aid payment made by the company. 17. Pensions The company participates in the Tyne and Wear Pension Fund, which is a funded defined benefit scheme where contributions payable are held in a trust separately from the company. The main results and assumptions of the most recent valuation of the Tyne and Wear Pension Fund are as follows: Contributions to the scheme have been charged to the profit and loss account on a cash basis. A qualified actuary has determined contribution rates on the basis of triennial valuations using the projected unit method. The actuaries determined that in order to meet the funding target, the contribution rate would be set at 17.3% for 2009/10 (2008/09: 17.3%). www.yhn.org.uk page 41
Page 1 and 2: the National Standard Your Homes Ne
Page 3 and 4: Contents Chair’s statement 4 Chie
Page 5 and 6: Look out for what is happening at:
Page 7 and 8: • we have been an active part of
Page 9 and 10: housing needs and aspirations of te
Page 11 and 12: and maintenance of homes and commun
Page 13 and 14: urhood and community partnership wi
Page 15 and 16: volvement and empowerment diverse n
Page 17 and 18: money quality services and homes to
Page 19 and 20: e and financial viability to tenant
Page 21 and 22: YHN Management structure John Lee C
Page 23 and 24: 73.1% 81% 7683 79.1% 5885 6137 08/0
Page 25 and 26: Financial accounts Independent audi
Page 27 and 28: Financial accounts Company income a
Page 29 and 30: Financial accounts Company balance
Page 31 and 32: Financial accounts Notes to the fin
Page 39: Financial accounts Notes to the fin

YHN Annual Report 2009-10 - Your Homes Newcastle

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