Beyond Housing Ltd Half-year Report (3045I)

TIDM63SQ

RNS Number : 3045I

Beyond Housing Ltd

13 April 2022

Beyond Housing 6months financial report 2021.22 (Draft and Unaudited)

Income & Expenditure

 
                             Actual Sept 2021   Budget    Variance to budget 
                                   GBPm          GBPm            GBPm 
                            -----------------  --------  ------------------- 
 Turnover                         38.636        38.274          0.362 
                            -----------------  --------  ------------------- 
 Operating Costs                  29.101        28.831          0.270 
                            -----------------  --------  ------------------- 
 Operating Surplus                9.535          9.443           0.92 
                            -----------------  --------  ------------------- 
 Net Interest Payable             15.087        10.603          4.484 
                            -----------------  --------  ------------------- 
 Disposal of Fixed Assets        (0.242)         0.786          1.028 
                            -----------------  --------  ------------------- 
 Net Deficit                     (5.794)        (0.374)         5.420 
                            -----------------  --------  ------------------- 
 

Balance Sheet

 
                         Actual Sept 2021   Actual March 2021    Movement 
                               GBPm               GBPm            GBPm 
                        -----------------  ------------------  ---------- 
 Fixed Assets                380.813             371.688          9.125 
                        -----------------  ------------------  ---------- 
 Current Assets               57.340             35.583          21.757 
                        -----------------  ------------------  ---------- 
 Current Liabilities          9.856              42.512          32.656 
                        -----------------  ------------------  ---------- 
 Net Current Assets           47.484             (6.929)         54.413 
                        -----------------  ------------------  ---------- 
 Long term Labilities        324.628             260.687         63.941 
                        -----------------  ------------------  ---------- 
 Capital & Reserves          103.669             104.072          0.403 
                        -----------------  ------------------  ---------- 
 

Treasury

 
                                Golden rule             Performance (as at Sept 2021) 
  EBITDA-MRI interest               121%                            299% 
   cover 
                                                                (all lenders) 
                        --------------------------  ----------------------------------- 
  Asset cover ratio                126.5%                           160% 
                                                                (all lenders) 
                        --------------------------  ----------------------------------- 
  Net borrowing: 
   Housing assets 
   at cost                          <63%                             41% 
                        --------------------------  ----------------------------------- 
  Net debt per                   <GBP22,500                       GBP12,896 
   unit 
                        --------------------------  ----------------------------------- 
  Cash and cash             To cover at least 21             more than 36 months 
   equivalents             months or requirements 
                        --------------------------  ----------------------------------- 
  Current ratio                     >1.0                             6.0 
                                                       (cash high due to bond proceeds) 
                        --------------------------  ----------------------------------- 
  Open market sales        <20% of turnover p.a.                     0% 
                        --------------------------  ----------------------------------- 
 

Lending

 
 Lender - Sept        RCF       Fixed/drawn    Sub total      Undrawn        Total 
  2021 
                      GBP           GBP           GBP           GBP           GBP 
 Lloyds           20,000,000    12,300,000    32,300,000    20,000,000    32,300,000 
 RBS              30,000,000    28,300,000    58,300,000    30,000,000    58,300,000 
 Nationwide       54,000,000    29,300,000    83,300,000    54,000,000    83,300,000 
 Bond (issued 
  May 2021)            0        165,000,000   165,000,000   85,000,000    250,000,000 
 Total            104,000,000   234,900,000   338,900,000   189,000,000   423,900,000 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

IR FLFLFSEIVLIF

(END) Dow Jones Newswires

April 13, 2022 08:20 ET (12:20 GMT)