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2021-03-31-accounts

Avante's Values are:- Values are:-
Supporting -providing supportive communities &services
Personal —providing individual care and support
Attentive -nurturing indiv idua I needs
Relationship Centred —forming and maintaining important relationships
Kind —selfless, supportive care
Listening —everybody matters
Enabling —everybody to reach their full potential

Forthe future, Avante aims to include energy efficient measures in it new developments and will make use ofthe most energy efficient methods of heating
and lighting
including
solar panels and ground		 heat sources where possible.
Year-Ended
March 2021
2021 2020
UK energy use
kWh 8,882,430 8,533,124
Associated greenhouse
gas emissions
Tonnes C02 equivalent 1,789,649 1,725,507
Intensity
ratio
Emissions
per 81 ofturnover		 17.3 18.4

3.All homes and services to be 3.All homes and services to be All 12services to be rated Good or Director ofCare Operations Director ofCare Operations
rated Good or Outstanding
by CQC		 Outstanding;
%of KLOEs Good or		 Director of Quality
Outstanding
to increase from 93%		 to
95%(each home and service should
achieve 100%;95%allows for 3
individual
KLOEs to be Rl or I)
4.We will introduce
electronic care		 Electronic care planning
to be rolled		 Director of Quality
planning,
electronic medicines		 out successfully
across Avante
by
management
and acoustic		 31/3/22
monitoring
rovi ng
financial perfonnance
3YEAR PLAN TO 31 MARCH 2024 ANNUAL BUSINESS PLAN TO RESPONSIBILITY
31 MARCH 2022
1. We will achieve occupancy of Achieve budgeted
occupancy of		 Director ofCare Operations
95%on a sustainable
basis		 80.2%for 2021-22
Head of Marketing and Sales
2. We will achieve industry Achieve budgeted
EBITDAof		 Director of Finance
standard
levels of EBITDA		 of 12.2%(care homes) and 10.6%
between 25-35%(care homes (home care) in 2021-22 Director of Care Operations
depending
on standard)
and
15%(home care)
3. Through a robust Procurement Procurement
Strategy to be		 Director of Finance
Strategy, we will ensure best written
by 31 December and
value is achieved
in contracts		 implemented
from Q4
for goods and services
4. We will meet our Reserves We viill establish
the financial		 Director of Finance
Policy and build a Development requirements
for a development
Fund to enable Avante to take fund that will deliver one new Director ofProperty and
advantage
of opportunities		 as home or service every 18 Development
they arise and to grow months,
using a mix offreehold
sustainably and leasehold
acquisitions

3YEAR PLAN TO 31 3YEAR PLAN TO 31 MARCH 2024 ANNUAL BUSINESS PLAN TO ANNUAL BUSINESS PLAN TO RESPONSIBILITY RESPONSIBILITY RESPONSIBILITY
31 MARCH 2022
1.Avante
will be known		 for a culture We will introduce a programme of Director ofHR/People and
of creativity and innovation training
and development		 Organisational Change
demonstrated through the press and designed
to stimulate
creativity
winning
awards		 and innovation
We will create a system of
recognition
and reward
that
celebrates
creativity
and
innovation.
2.Avante
will be recognised as a		 We will overhaul
our recruitment		 Director of HR/People and
best in class employer through
the		 process from advertising
to		 Organisational Change
press and v/inning
awards		 appointment
to increase the focus
our USP, brand,
diversity,		 Director ofCare Operations
innovation
and creativity
Head of Marketing
and		 Sales

Identified Identified Identified Risk Risk Management/Actions
Legal Action against the organisation; a) Training
and coaching for Home Managers
b) Ongoing
Management
Health
&Safety Training
~ Losing Employment Tribunal c) Fire and H&S action plans implemented
~ Breach of Health &Safety Regulations d) CQls to monitor compliance
~ Legal Action or other claims taken by e) In house programme
ofaudits and inspections
~ Families f)Trustees and Officers Liability cover incl abuse in place
~ GDPR g) Annual
BOT and EMT declarations
~ Claims due to Covid h) Central coordination
ofresponses
to legal action
i) QCS quality system
in place
j) Quality Improvement
programme
in place
k) All Registered
Managers
have completed
"Well		 Led" training
I) Duty of Candour
training
for RMs delivered
m) Infection Control (IC) training
n) Monitoring
ofsocial media to prevent
Covid related
complaints
o) monitoring
of PPE and IC compliance
Action:
Insurers
undertaking
pre-emptive
review of potential		 claims
risk areas
Failure to meet bank loan covenants as a consequence of a) Monthly
reporting,
scrutiny
and review ofmanagement
another primary riski accounts.
b) Quarterly/monthly
updated
y/e &5yr forecasts
~ Bank would have right to recall/renegotiate terms c) Continuous
Improvement
Plans for each service, home and
of loans. department.
~ Risk of need to dispose ofassets to repay d) Forecasting
& Managing
cash flow
~ Increased future borrowing costs e) Controlling
debtors/creditors
~ Technical insolvency due to bank not f) EMT oversight ofincome, costs and cash flow
waiving rights under breach g) Strategic KPls —compiled
monthly
and sent to		 Board and
Bank
h) Operational
KPls and KMls available
on intranet
i) Setting ofbudget to enable covenant compliance
' Finance Strate
in Place
k) new tests set for 2021/22 during
recovery		 period period period
I) maintain
dialogue
with the bank
Effects of Noncompliance (Organtsafional) a) Internal
Audit processes
b) Annual
Financial
Audit
Breaches of: c) QCS quality system
in place
GDPR d) Legal Advice
Environmental Health e) Fire safety inspections
HSE f) Centralised
database
of relevant certification—
Employment Law M&C Schedule
Fire Regulations g) Planned
programme
of property
maintenance
Poor Governance h) ICT policy and security measures
in place
Cyber Security
CQC Compliance
Current
medication
unavailable
leading		 systems and supplier become
to higher levels of medication		 i) Fit and Proper Persons policy and procedures
for Trustees
and Trustee recruitment
j) The Board ofTrustees have reviewed
Governance
k) F&Rreview of GDPR
I) Cyber Security —Regular review ofmeasures
in		 Code
place
errors
Fraud		 m) Audit programme
both are service level and through
Quality Team		 QIP by
n) Staff trained
in medication
procedures
Actions:
Review alternative
systems and increase training		 in
personalised
medication
for care staff.
Explore availability
/ compatibility
of EMAR		 systems
Review of Fire Safety compliance - more intrusive high level
Fire RA being carried out
Governance
Review
Debt crystafiisation - regarding last man standing or a) Prudent
assumptions
in business
plan &		 budget.
unaffordability
of pensions		 schemes: b) SHPS DC scheme providing
protection
for CARE &FSDB
schemes
~ Increase in contribution rates and take up. c) Provide for increased costs
~ Brexit - Impact on costs e)Awareness
of risk timelines
for members
~ Increase in NLW over business
plan projections		 f) First Actuarial
engaged as an advisor to assist		 with strategy
~ LGPS - McCloud and GMP issues - potential development
and providing
ongoing
support		 and keeping us
additional contributions under abreast ofdevelopments
g) Pension Strategy agreed and in place.
h) FSscheme closed 30/06/2019 and staff moved to CARE
scheme.
i) Remain vigilant to any deterioration
in our		 pension
deficits
j) Maintain
membership
numbers
Actions:
Carry out next phase ofLGPS negotiations with FA- awaiting
LA revised policies
Disaster
in a service		 location where people live &work: a) Insurance
maintained
for building
&business		 interruption
~ Fire b) Fire plans
in place and regularly
reviewed		 and audited
~ Flood c) Business Continuity
Plan
in place and tested with scenariio
~ Explosion planning
and training
~ Gas Leak d) Contractor contingency
plans
~ Legionefia e) Central Register ofcertificates and compliance in place
~ Loss of utilities for 8 hours or more t) Training,
inspections
and audits regarding		 Health &Safety
~ Asbestos compliance
g) Planned
installation
ofsprinklers
in all homes		 to be
completed
when major refurbishments
are undertaken.
Action:
User friendly
action plans for Fire RA recommendations
Fire Drill audit
Induction
manuals
and kitchen floor plans
S rinklers
stems to be installed
in kitchens
Supply Side Risks Good recruitment
procedures
~ Staffing New Director of People &Organisational
Development
~ Day to Day Supplies recruited
Actions:
More recruitment
fairs
Improve
recruitment
process from advert to mobilisation
Review su
liars
Serious infection outbreak: a) Maintaining
infection control systems
&audit thereof
b) Legionella
Policy with planned
inspections
~ Viral/ Bacterial c) ASB staff cover to maintain
continuity
ofpractice delivery
~ Loss ofincome d) Regular updates
on Best Practice
~ Loss of Reputation e) BiAnnual
Kitchen deep clean
~ Reduction in staff/residents f) Chlorine dosing system
roll out in progress —4 homes
complete
g) Proactive action plan and core competencies
for improved
infection
control (hand washing,
MT Checks etc.)implemented
h) Annual
Infection control statement
completed
for C&CQ
(report on reviews and audits)
i) Added
to service visit to ensure that any audit findings		 are
monitored.
k) Corona Virus -following
government
and NHS
recommendations
and keeping
up to date on these.
I) Regular COVID 19meetings
are being held at EMT level
m)Ensuring
staff have adequate
PPE
n) Operational
measures
to minimise
the spread ofinfection
(isolation suites, safe deployment
ofstaff, closing offices)
o)Regular testing ofstaff and residents
and service users
p)Monitoring
ofavailable
government
funding
and ensuring
that we meet the conditions
to receive this
Actions:
q) Preparing
for vaccination
legislation
deadline-
staff and
visitors
r) Lessons learned
reporting
Damage to reputation: a) Quality Audit and inspection
programme
and procedures
b) Agreed HR policies and training
~ Social media 'attack' c) Good Communications,
social media and Marketing		 Policy
~ Adverse reporting on the organisation d) Infection control measures
~ Untoward death or abuse e) incident
reporting
and EMT and Board oversight
~ Service closure / transfer I) Head ofSales &Marketing
recruited —more senior oversight
~ Increased CQC scrutiny for communications
~ increased Public Health scrutiny
Loss of income; a) Marketing
ofservices
b) Seeking growth
opportunities
and diversihcation
LA retendering ofcommissioned services Kent & c) EMT monitoring
ofperformance
via KPls
Bexley at uneconomic rates d) Quality control inspections
including
external/
Mock
Unable to provide LA reconfigured services inspections
LA/ CQC sanctions re Safeguarding /Compliance e) Proactive management-
Needs Assessment
tool in		 place to
causing embargos ensure that changes
in needs are being recorded correctly
Closure ofhomes or reduction of beds/loss of within the assessments
to achieve appropriate
fees.
services f) Networking
and relationships
with Commissioners
Reduction
in private income
More competition
in the market		 g) Review of potential
new business
opportunities.
h) Ongoing research
into private market and health and social
Failure to adapt to changing
market requirements
Further public spending
cuts due to Brexit
implications,
resulting
in lower fee levels
Reduction
in placements
due to COVID		 care integration
i) Service development
plan for each home
j) Care and home care strategy
and workforce development
strategy
in place.
k) Continue
to improve our financial
performance
through
increasing
occupancy
and the number
of self-funding
residents
—budget management
—new targets set each
year
I) Close the gap between
our pay rates and those ofour
competitors
in order to recruit and retain staff —pay strategy		 in
lace to hei
usreachthe
NCFavera
eb
A ril2022
m) Continued
investment		 in our homes to ensure that to ensure that they they
remain
attractive to self-funding		 residents. Increasing annual
PMP budget to complete improvement plan
n) Quality strategy
o) minimise costs where appropriate
p) new enquiry
framework		 and Family Liaison Manager in
place
q) Properly strategy
r) Virtual tours
in place
Aetio nm
Implement
revised Needs		 Assessment Tool policy to achieve
a
ro riate fees

2021 2020
Charitable
activities		 Note f
Income from Care Homes services 2 24,646,155 24,386,434
Expenditure
on Care Home services		 3 (26,123,576) (23,84/, 957/
(Deficit)/Surplus
on Care Home services		 (Deficit)/surplus (1,477,421) 544,477
Income from Homes Care & Support services 2 3,988,838 4,028,952
Expenditure
on Home Care &Support services		 3 (4,058,895) (4,061,206)
(Deficit)/Surplus
on Home Care &Support seniices		 (70,057) (32,254)
(Deficit)/Surplus
from charitable
activities		 (1,547,478) 512,223
Voluntary
and other activities
Income from donations,
legacies and grants		 2,335,254 51,981
Other trading
income		 7,312 69,294
Miscellaneous
income		 612,889 45,979
Profit on sale offixed assets 7,300 2,577,757
Income from voluntary
and other activities		 2,962,755 2,745,011
Surplus/(deficit)
from voluntary
and other activities		 2,962,755 2,745,011
Net income/(expenditure)
before other recognised		 gains/losses 1,415,277 3,257,234
This Simplified
Operating
Statement
should be read in		 conjunction with Note 6.

Unrestricted Restriicted Total Unrestricted Restricted Total
funds funds 2021 funds funds 2020
Income from: f 6 8 f
Donations,
legacies and grants		 2,335,254 2,335,254 51,981 51,981
Charitable
activities		 2 28,634,993 28,634,993 28,415,386 28,415,386
Other trading
income		 7,312 7,312 69,294 69,294
Other income 17,535 17,535 45,979 45,979
Other income - furlough 595,354 595,354
Proceeds on sale offixed assets 7,300 7,300 2,577,757 2,577,757
Total income 29,262,494 2,335,254 31,597,748 31,108,416 51,981 31,160,397
Expenditure
on:
Charitable
activities
-Care Home services 24,027,085 2,096,491 26,123,576 23,806,260 35,697 23,841,957
-Home Care & Support services 3,815,876 243,019 4,058,895 4,061,206 4,061,206
Total expenditure 3 27,842,961 2,339,510 30,182,471 27,867,466 35,697 27,903,163
Net income/(expenditure) 1,419,533 (4,256) 1,415,277 3,240,950 16,284 3,257,234
Other recognised
gains(losses
Act'I gain/(loss)
on pension		 liability 16 632,704 632,704 802,000 802,000
Net movement
in funds		 2,052,237 (4,256) 2,047,981 4,042,950 16,284 4,059,234
Balance bifwd at 01 April 2020 52,231,788 72,084 52,303,872 48,188,838 55,800 48,244,638
Balance c/fwd at 31 March 2021 54,284,025 67,828 54,351,853 52,231,788 72,084 52,303,872

2021 2020
Consolidated Charity Consolidated Charity
Only Only
Fixed assets Note f 6 f f
Tangible fixed assets 6 62,776,963 62,776,963 60,352,494 60,352,494
Investment 1 1
62,776,963 62,776,964 60,352,494 60,352,495
Current assets
Debtors 7 2,222,583 1,564,557 2,335,242 1,518,696
Amounts
owed by group undertakings		 17 1,595,311 1,636,122
Short term deposits 1.11 2,694,684 2,694,684 7,541,087 T,541,087
Cash at bank and in hand 1.11 3,684,734 2,747,448 851,814 32,23T
8,602,001 8,602,000 10,728,143 10,728,142
Creditors: amounts falling due within one year
Creditors
falling due		 within one year 8 4,794,121 4,794,121 4,607,235 4,480,478
Capital repayments due within one year
on long term loans 10 699,189 699,189 699,189 699,189
5,493,310 5,493,310 5,306,424 5,179,66T
Net current assets 3,108,691 3,108,690 5,421,719 5,548,475
Total assets less current liabilities 65,885,654 65,885,654 65,774,213 65,900,970
Creditors: amounts falling due affer one year
Interest rate swap liability (692,586) (692,586) (1,100,553) (1,100,553)
Bank loan accounts 10 (8,040,676) (6,040,676) (8, 739,865) (8,739,865)
Net assets excluding pension liability 57,152,392 57,152,392 55,933,795 56,060,552
Pension Asset 16 731,000 731,000
Pension
liability		 16 (3,531,539) (3,531,539) (3,629,923) (3,629,923)
Net assets 54,351,853 54,351,853 52,303,872 52,430,629
Represented
by:
Unrestdicted
funds excluding		 pension liability 41,945,891 41,945,891 40,723,038 40,849,795
Pension
liability		 (2,800,539) (2,600,539) (3,629,923) (3,629,923)
Revaluation
reserve		 15,138,673 15,138,673 15,138,673 15,138,673
Total unrestdicted funds 54,284,025 54,284,025 52,231,788 52,358,545
Restricted funds 67,828 67,828 72,084 72,084
Balance carried forward at 31.03.2021 54,351,853 54,351,853 52,303,872 52,430,629

2021 2020
Cash flows from operating
activities		 Notes
Net income/(expenditure) 1,415,277 3,257,234
Pension
contribution
less current		 service and finance cost 16 (196,681) 235,681
Interest paid 4 516,364 557,047
Revaluation
Depreciation
charge		 6 1,003,011 933,405
(Profit) on sale offixed assets 1,588 (2,577,757)
Fixed asset costs transferred
to		 revenue
Decrease/(increase)
in debtors		 112,659 162,593
(Decrease)/increase
in creditors		 (221,080) 251,791
Net cash generated
from operating		 activities 2,631,138 2,819,994
Cash flows from investing
activities
Payments
to acquire tangible
fixed assets		 6 (3,473,039) (1,644,769)
Receipts
on disposal oftangible		 fixed assets 7,300 3,970,342
Revaluation
(gain)/loss
on Property
Net cash generated
from investing		 activities (3,465,739) 2,325,573
Cash flows from financing
activities
Loans repaid (699,189) (699,189)
Interest paid on long-term
loans		 4 (516,364) (557,047)
Net cash used by financing
activities		 (1,215,553) (1,256,236)
Reconciliation
of net cash flow to movement		 in net debt
Increase/(decrease)
in cash		 (2,050,154) 3,889,331
Cash inflow from change
in debt		 699,189 699,189
(Increase)
in net debt from cash		 flows (1,350,965) 4,588,520
Net debt at01.04.2020 (1,009,483) (6,200, 058)
Net cash generated
from investing		 activities (2,360,448) (1,611,538)
Analysis ofnet debt At31.03.2020 Cash flow At31.03.2021
Short-term
deposits		 7,577,758 (4,883,074) 2,694,684
Cash at bank and in hand 851,814 2,832,920 3,684,734
Net cash 8,429,572 (2,050,154) 6,379,418
Changes
in debt; bank loan		 (9,439,055) 699,189 (8,739,866)
Changes
in net debt		 (1,009,483) (1,350,965) (2,360,448)

Notes to the Accounts Notes to the Accounts
for the year ended 31 March 2021
2021 2020
Financial assets held at amortised cost E
Debtors 2,222,583 2,335,242
Short-term
deposits		 2,694,684 7,541,087
Cash at bank and in hand 3,684,734 851,814
Less prepayments (352,287) (367,733)
8,249,714 10,360,410
2021 2020
Financial
liabilities
held at amortised cost		 E f
Current creditors and accruals 3,690,339 3,621,903
Less deferred
income		 (361,277) (215,147)
Bankloans 8,739,865 9,439,054
12,068,927 12,845,810
2021 2020
Financial
liabilities
held at valuation		 f f
Interest rate swap liability 1,010,023 1,403,779
1,010,023 1,403,779
1.12 Government Grants

21ncome
2021 2020
Charitable activities f f
Care Homes 24,646,155 24,386,434
Home Care &Support 3,988,838 4,028,952
28,634,993 28,415,386
2021 2020
Government grants 8
Covid-1 9 grant income - Infection Control, LFD Testing and Workforce Capacity 2,313,461
Furlough grants 595,354
2,908,815

Staff Other direct Support
costs costs costs Governance Total 2021
Charitable activities E E E E E
Care Homes 18,225,041 5,355,971 2,113,434 429,130 26,123,576
Home Care &Support 3,155,929 471,450 362,064 69,452 4,058,895
21,380,970 5,827,421 2,475,498 498,582 30,182,471
Sfe» Other direct Support
costs costs costs Governance Total 2020
Charitable activities f f
Care Homes 16,151,460 5,195,411 2,005,063 490,003 23,841,957
Home Care &Support 3,150,426 432,932 396,893 80,955 4,061,206
19,301,886 5,628,343 2,401,976 570,958 27,903,163
3.2 Analysis of support costs
Home Care & Home Care 8
Care Homes Support Total 2021 Care Homes Support Total 2020
E E E f f
Staff costs 1,528,087 261,785 1,789,872 1,379,600 273,083 1,652,683
Premises 54,966 9,416 64,382 75,397 14,924 90,321
Operating costs 518,429 88,815 607,244 538,399 106,573 644,972
Depreciation 11,952 2,048 14,000 11,687 2,313 14,000
2,113,434 362,064 2,475,498 2,006,083 396,893 2401,976
3.3Analysis of governance costs
Home Care & Home Care &
Care Homes Support Total 2021 Care Homes Support Total 2020
E E E f f
Supportcosts 193,887 31,380 225,267 177,783 29,372 207,155
Audit 33,963 5,497 39,460 29,591 4,889 34,480
Valuations 9,536 1,543 11,079 820 136 956
Trustee expenses 6,259 1,013 7,272 2,908 481 3,389
Other (18,957) (3,063) (22,025) 98,050 16,199 114,249
Strategy 204,442 33,088 237,530 180,850 29,879 210,729
429,130 69,453 498,583 490,002 80,956 570,958

2021 2020
Total remuneration payable to the charity's auditor in the period: f
Statutory audit: Charity 24,150 30,900
Subsidiary 2,950 2,500
27,100 33,400
Non-audit services: 19,372 12,865
3.5 Net Income
2021 2020
Net income is stated after charging: f
Operating lease payments 110,392 102,762
Profit on sale offixed assets 1,588 (2,577, 757)
Depreciation 1,003,011 933,405
Auditors remuneration Audit 27,100 33,400
Corpt Tax Additional work 2,775 1,865
I/AT Advice Additional work 1,059 1,076
Land and Property Tax advice
Additional		 work 15,538 9,925
1,161,463 (1,495,325)
4 Interest payable
2021 2020
f f
On bank loans and overdrafts 516,364 557,047
516,364 557,047
5 Operating
leases
These are the commitments for operating leases during the coming year in respect ofleases terminating:
2021 2020
f f
Under
1		 year: Land and buildings 588,887 60,548
Others (motor vehicles, photocopiers, franking machines) 75,808 85,654
Within 2 to 5years: Land and buildings 2,417,092 2,296,004
Others (motor vehicles, photocopiers, franking machines) 169,682 245,488
Over 5years: Land and buildings 19,183,392 14,550,123
Others (motor vehicles, photocopiers, franking machines)
22,434,861 17,237,817

6.1 Analysis
of movement		 offixed assets
Freehold Leasehold Computer Fixtures 8 Motor Work in
Property Improv'ts Equipment Fittings Vehicles Progress Total
Cost(valuation E E E E E E
At01.04.2020 60,024,188 25,969 701,009 1,463,961 194,751 154,142 62,564,020
Additions 72,433 117,198 449,126 7,475 2,826,807 3,473,039
Disposals (68,215) (158,692) (9,356) (236,263)
Revaluations/Impairments (36,671) (36,671)
Transfers 2,898,623 (2,898,623)
At31.03.2021 62,995,244 25,969 749,992 1,754,395 192,870 45,655 65,764,125
Depreciation
At01.04.2020 659,792 9,355 484,438 889,095 168,846 2,211,526
Charge for year 671,486 5,323 92,696 228,813 4,693 1,003,011
Disposals (68,215) (158,692) (468) (227,375)
Revaluations/Impairments
At 31.03.2021 1,331,278 14,678 508,919 959,216 173,071 2,987,162
Net book value
As at 31.03.2021 61,663,966 11,291 241,073 795,179 19,799 45,655 62,776,963
As at01.04.2020 59,364,396 16,614 216,571 574,866 25,905 154,142 60,352,494

2021 2020
E f
Cost 50,301,625 47,402,380
Accumulated depreciation (9,959,457) (9, 105,782)
Net book value 40,342,168 38,296,598

7 Current debtors
2021 2020
Consolidated
E		 Charity Only
E		 Consolidatedf Charity Onlyf
Trade debtors 1,272,972 1,043,441 1,692,053 1,060,693
Other debtors 6,876 6,876 9,246 9,246
Prepayments 352,287 352,287 367,733 367,733
Accrued income 590,448 161,953 266,210 81,024
2,222,583 1,564,557 2,335,242 1,518,696

2021 2020
Consolidated
E		 Charity Only
E		 Consolidated
f		 Charity Only
317,437 317,437 303,226 303,226
762,232 762,232 816,342 816,342
786,345 786,345 682,106 682,106
1,331,754 1,331,754 1,641,810 1,550,676
1,235,076 1,235,076 948,604 948,604
361,277 361,277 215,147 179,524
4,794,121 4,794,121 4,607,235 4,480,478

9 Deferred income a ccr uals
Cash in
Care fees advance Others T'otal 2021
E E E f
Brought forward at01.04.2020 186,716 25,948 2,483 215,147
Released
in current year		 (49,716) (25,948) (282) (75,946)
Arising at31.03.2021 73,984 84,846 63,246 222,076
210,984 84,846 65,447 361,277
Entity only at 31.03.2021 159,668 32,319 2,201 194,189
Cashin
Care fees
f		 advancef Othersf Total2020f
Brought forward at 01.04.2019 260,342 83,359 2,201 345,902
Released
in current year		 (123,342) (83,359) 282 (206,419)
Arising at31.03.2020 49,716 25,948 75,664
186,716 25,948 2,483 215,147
Entity only at 31.03.2020 171,410 5,631 2,483 179,524
Ag deferred
income at		 31.03.2021 is in respect offees or grants invoiced on or prior to 31.03.2021 but relating to periods aRer 31.03.2021,or
payments
in advance		 pending invoicing or contract reconciliation.
10Creditors: Amounts falling due after more than one year
2021 2020
E f
Interest rate swap liability 692,586 1,100,553
Bank loans 8,040,676 8,739,865
8,733,262 9,840,418
Contractual obligation
at 31.03.2021 at31.03.2020
The total bank loans are repayable as follows: E f
Within one year 699,189 699,189
Between one and two years 699,189 699,189
Between two and five years 2,097,568 2,097,568
ARer five years 5,243,919 5,943,108
8,739,865 9,439,054

Unrestricted Restricted 2021
funds funds Total
f f f
Tangible fixed assets 62,776,963 62,776,963
Net current assets (excluding bank loans and swaps liability due) 4,057,489 67,828 4,125,317
Interest rate swap liability (1,010,023) (1,010,023)
Bankloans (8,739,865) (8,739,865)
Pension liabilities (2,800,539) (2,800,539)
54,284,025 67,828 54,351,853
Unrestricted Restricted 2020
funds funds Total
f f f
Tangible fixed assets 60,352,494 60,352,494
Net current assets (excluding bank loans and swaps liability)* 6,352,050 72,084 6,424,134
Interest rate swap liability * (1,403, 779) (1.403.779)
Bank loans (9,439,054) (9,439,054)
Pension liabilities (3,629,923) (3.629,923)
52,231,788 72,084 52,303,872

14Funds analysis
Unrestricted Revaluationl Restricted 2021
funds * Capital funds Total
E reserveE E E
Brought forward at 01.04.2020 37,093,115 15,138,673 72,084 52,303,872
Net income/(Expenditure) 1,419,533 (4,256) 1,415,277
Revaluation
gain/(loss)
on		 Property
Actuarial
gain on pension		 liability 632,704 632,704
Carried forward at 31.03.2021 39,145,352 15,138,673 67,828 54,351,853
Revaluation/
Unrestricted Capital Restricted 2020
funds * reserve funds Total
f f f
Brought forward at 01.04.2019 32,452,971 15,735,867 55,800 48,244,638
Net income/(Expenditure) 3,838,144 (597,/94) 16,284 3,257,234
Revaluation
gain/(loss)
on		 Property
Other adjustments to pension liability
Actuarial
gain on pension		 liability 802,000 802,000
Movement
between		 reserves
Camed forward at 31.03.2020 37,093,115 15,138,673 72,084 52,303,872

15.2 Employee
infor		 mation
2021 2020
Em
lo eecostsdurin		 the earwere
Salaries and wages 20,344,527 18,300,662
Agency costs 1,303,309 897,009
Staff recruitment
and		 training 180,787 273,402
Employer's
social security costs		 1,362,348 1,131,809
Employer's
pension costs		 589,590 913,894
23,780,561 21,516,776
~Anal sed as;
Chariitable
activities		 21,527,892 19,446,209
Support costs 1,789,872 1,652,683
Governance
costs		 462,797 417,884
23,780,561 21,516,776
included
in employee		 costs above are redundancy payments of: 62,202

Number of employees
Emoluments: 2021 2020
E60,000to E70,000
E70,000to E80,000
E80,000toE90,000
E90,000toE100,000
E100,000toE110,000
E110,000to E120,000
E120,000to E130,000

2021 2020
Care &Support 1,095 1,036
Home Care &Support 228 236
Corporate 54 53
1,377 1,325

2021 2020
Care & Support 715 768
Home Care &Support 135 147
Corporate 47 43
897 958

Other Actuarial
2020 Movements (gain)/loss 2021
6 6 f
Kent County
Council		 2,387,000 48,000 (697,000) 1,738,000
London Borough of Bexley' (153,000) (578,000) (731,000)
Royal Borough ofGreenwich 660,923 36,319 (95,703) 601,539
Social Housing Pension Scheme 582,000 (128,000) 738,000 1,192,000
3,629,923 (196,681) (632,703) 2,800,539

31.03.2021 31.03.2020 31.03.2019
Financial assumptions % pa % pa % pa
Pension increase rate 2.85 2.00 2.45
Salary increases 3.85 3.00 3.95
Discount rate 1.90 2.35 2.35

31.03.2021 31.03.2021 31.03.2020
AFTER BEFORE
CMI 2020 update CMI 2020 update
Retiring today
Males 21.6 21.9 21.8
Females 23.6 23.8 23.7
Retiring in 20years
Males 22.9 23.3 23.2
Females 25.1 25.3 25.2

31.03.2021 31.03.2020
Fairvalueofem lo erassets f'000s f'000s
Equities 6,205 4,765
Gilts 57 60
Bonds 1,203 1,009
Property 997 1,054
Cash 478 203
Target return portfolio 695 654
9,635 7,745
Balance sheet f'0006 f'000s
Fair value of employer assets 9,635 7,745
Present value of funded liabilities (11,373) (10,132)
(1,738) (2,387)

Yearto: 31.03.2021 31.03.2020
Revenue account reco
nition		 f'0006 f'000s
Current service cost 52 63
Net interest on the defined liability (asset) 55 52
Administration
expenses		 6 5
113 120
Yearto: 31.03.2021 31.03.2020
Reconciliation
ofdefined		 benefit obli ation f'000s f'000s
Opening
defined benefit obligation		 10,132 11,158
Current service cost 52 49
Interest cost 233 256
Contributions
by members		 9 8
Experience
loss/(gain)
on		 defined benefit obligation (166) (42)
Past service costs, including
curtailments		 14
Changes
in financial
assumptions		 1,680 (641)
Change
in demographic
assumption		 (118) (156)
Estimated
benefits
paid		 (449) (514)
Closing defined
benefit obligation		 11,373 10,132
Yearto: 31.03.2021 31.03.2020
Reconciliation
ofo enin		 &closin balances ofthe fair value of Fund assets f'0006 f'000s
Opening
fair value of Fund		 assets 7,745 8,901
Interest on assets 178 204
Return
on assets less interest		 2,093 (849)
Other actuarial gains/(losses) (57)
Contributions
by Scheme		 participants and other employers 9 8
Contributions
by employer		 including unfunded 65 57
Estimated
benefits
paid plus unfunded		 net oftransfers in (449) (514)
Administration
expenses		 (6) (5)
Closing fair value of Fund assets 9,635 7,745
31.03.2021 31.03.2020 31.03.2019 31.03.2018 31.03.2017
Amounts
for current 8		 revious eriods f'0006 f'0006 f'0006 f'000s f'0006
Defined benefit obligation (11,373) (10,132) (11,158) (11,497) (11,976)
Scheme assets 9,635 7,745 8,901 8,639 8,708
Surplus/(deficit) (1,738) (2,387) (2,257) (2,858) (3,268)

Yearto: 31.03.2022
~pr
d		 f'000s
Service cost 67
Net interest on the defined liability (asset) 32
Administration expenses 8
107
Employer contributions 65

Yearto: 31.03.2021
f'000s
Ad'ustment
to discount rate		 +0.1% 00 (0.1%)
Present value total obligation 11,220 11,373 11,528
Projected service cost 65 67 68
Ad'ustment
to ion
term sale		 increase +0.1% 0.0% (0.1%)
Present value total obligation 11,377 11,373 11,369
Projected service cost 67 67 67
Ad'ustment
to
ension increases and		 deferred revaluation +0.1% 0.0% (0.1%)
Present value total obligation 11,523 11,373 11,225
Projected service cost 68 67 66
Ad'ustment
to life ex ectanc		 assum tions +1 Year None -1Year
Present value total obligation 11,994 11,373 10,785
Projected service cost 70 67 64
31.03.2021 31.03.2020
Remeasurement
ofthe net assets / (defined		 liability) f'000s f'000s
Return
on Fund assets
in excess ofinterest		 2,093 (849)
Other actuarial
gains/(losses)		 on assets (57)
Change
in financial assumptions		 (1,680) 641
Experience gain/(loss)
on defined benefit obligation		 166 42
Change
in demographic
assumptions		 118 156
Remeasurement
ofthe net		 assets I(defined liability) 697 (e'7)

31.03.2021 31.03.2020 31.03.2019
Financial assumptions %pa %pa %pa
CPI inflation rate 2.7 2.1 2.3
Pension increase rate 2.8 2.2 2.4
Salary increases 4.2 3.6 3.8
Discount rate 2.1 2.4 2.4

Males Females
Current pensioners 22.5 25.2
Future pensioners 24.1 27.2
Balance sheet disclosures
31.03.2021 31.03.2020
Fairvalueofem lo erassets 6"000s 6'0006
Equities 5,693 5,967
Government bonds 2,000 1,301
Other bonds 2,126 1,426
Property 1,511 1,376
Cash/liquidity 1,301 38
Other 1,357 2,402
13,988 12,510

Balance sheet
Fair value ofemployer assets
Present value offunded
liabilities
Revenue account costs
Revenue account reco nition
Current service cost
Net interest cost
Administration
expenses
Past service cost (gain)
Statement of other com rehensive income
Remeasurements
(liabilities and		 assets)
Total remeasurements
included		 in SOCI
Reconciliation
of defined benefit obli		 ation
Opening
defined benefit obligation
Current service cost
Interest cost
Contributions
by members
Past service costi(gain)
Experience
(gain)/loss
Actuarial losses/(gains)
Estimated
benefits
paid
Closing defined benefit obligation
Reconcglatlon
offair value of		 em lo erassets
Opening
fair value ofemployer assets
Expected return
on assets
Contributions
by members
Contributions
by employer
Actuarial
gain/(loss)
Benefits paid
Administration
expenses
Closing fair value ofemployer assets
f'000s f'000s
13,988 12,510
(13,257) (12,316)
731 194
Yearto: 31.03.2021 31.03.2020
f'0006 f'000s
43 47
(3) (1)
1 1
51
41 98
Yearto. 31.03.2021 31.03.2020
f'0006 f'000s
(578) (174)
(578) (I74)
Yearto: 31.03.2021 31.03.2020
f'000s f'000s
12,316 13,241
43 47
291 312
8 9
51
(278) 69
1,402 (835)
(525) (578)
13,257 12,316
Yearto: 31.03.2021 31.03.2020
f'000s f'000s
12,510 13,327
294 313
8 9
32
1,702 (592)
(525) (578)
u) (I)
13,988 12,510

Yearto: 31.03.2021
E'0006
Increase in life
Central Discount rates Inflation Pay Growth expectancy
Adjustment to rate +0 1o/o +0.1 /o +0.1 /o 1 Year
Present value total obligation 13,257 13,097 13,419 13,266 13,675
Projected service cost 52 51 54 52 54

~nnI I
Pension increase rate
Salary increases
Discount rate
31.03.2021 31.03.2020 31.03.2019
% pa % pa % pa
2.85 1.95 2.50
3.85 2.95 4.00
1.90 2.30 2.30

31.03.2021 31.03.2021 31.03.2020
AFTER BEFORE
CMI 2020 update CMi 2020 update
Retiring today
Males 20.5 20.9 20.8
Females 23.3 23.6 23.5
Retiring in 20years
Males 21.9 22.4 22.3
Females 24.9 25.2 25.1

31.03.2021 31.03.2020
Estimated asset allocation for Avante Care &Su ort f'000s f'000s
UK Equities 137.4 114.7
Other bonds 248.3 238.0
Property 131.5 140.7
Cash 18.5 20.1
Unitised insurance
policies		 579.7 466.2
UK &overseas unit trusts 369.1 273.8
1,484.4 1,253.5
Balance sheet f'000s f'OOOs
Fair value ofemployer assets 1,484.4 1,253.5
Present value of funded liabilities (2,086.0) (1,914.4)
(601.5) (660.9)

Year to: 31.03.2021 31.03.2020
Revenue account reco nition 6'000s f'000s
Service cost 37.4 33.7
Net interest on the defined
liability (asset)		 15.0 10.8
Administration
expenses		 1.2 1.6
53.6 46.1
Yearto: 31.03.2021 31.03.2020
Reconciliationofo
enin
andclosin		 balancesof resentvalueofthedefinedbenefitobli ation f.'000s f'000s
Opening
defined benefit obligation		 1,914.4 2,289.2
Current service cost 37.4 25.3
Interest cost 43.1 50.0
Change
in financial
assumptions		 233.1 (111.3)
Change
in demographic
assumptions		 (30.8) (141.8)
Experience
loss/(gain)
on defined benefit		 obligation (30.8) 30.1
Estimated
benefits
paid net oftransfers		 in (86.0) (239.5)
Past service costs, including
curtailments		 8.4
Contdibutions
by scheme participants		 and other employers 5.6 4.0
Closing defined benefit obligation 2,086.0 1,914.4
Yearto: 31.03.2021 31.03.2020
Reconciliation ofo enin
and closin		 balancesof resentvalueofthefairvalueofFund assets f'000s f'000s
Opening
fair value of Fund assets		 1,253.5 1,814.2
Interest on assets 28.1 39.1
Return
on assets less interest		 267.2 (150.8)
Other actuarial
gains/(losses)		 (220.3)
Administration
expenses		 (1 2) (I.6)
Contributions
by employer
including		 unfunded 17.3 8.2
Contributions
by Scheme participants		 and other employers 5.6 4.0
Estimated
benefits paid plus unfunded		 net oftransfers in (86.0) (239.4)
Closing fair value ofFund assets 1,484.4 1,253.5
31.03.2021 31.03.2020 31.03.2019 31.03.2018 31.03.2017
Amountsforcurrent8
revious		 eriods f'000s f'000s f'000s f'000s 6'000s
Defined benefit obligation (2,086) (1,914) (2,291) (2,176) (2,241)
Scheme assets 1,484 1,253 1,817 1,734 1,763
Surplus/(deficit) (602) (661) (474) (442) (477)

Yearto: 31.03.2022
~PI
d		 8'0005
Service cost 44.7
Net interest on the defined
liability (asset)		 11.3
Administration
expenses		 1.4
57.3
Employer contributions 17.3
Sensitivity
analysis
The following tables set out the impact of a small change in the rates on the defined benefit obligation and projected service cost:
Year to: 31.03.2021
8'0005
Ad'ustment
to discount rate		 +0.1% 00 (0.1%)
Present value total obligation 2,060 2,086 2,112
Projected service cost 44 45 45
Ad'ustment
to lon
term sala		 increase +0.1% 0.0% (0 1%)
Present value total obligation 2,086 2,086 2,086
Projected service cost 45 45 45
Ad'ustment
to
ension increases		 and deferred revaluation +0.1% 0.0% (0 1%)
Present value total obligation 2,112 2,086 2,061
Projected service cost 45 45 44
Ad'ustment
to life ex ectanc
assam		 tions +1Year None -1Year
Present value total obligation 2,236 2,086 1,946
Projected service cost 47 45 42
31.03.2021 31.03.2020
Remeasurement
ofthe net assets		 / defined liabili 8'000s f'0005
Return
on Fund assets
in excess		 of interest 267.2 (150.8)
Other actuadial
gains/(losses)
on		 assets (220.2)
Change
in financial assumptions		 (233.1) 111.3
Change
in demographic
assumptions		 30.8 141.8
Experience
gain/(loss)
on defined		 benefit obligation 30.8 (30.1)
Remeasurement
ofthe net assets		 / (defined liability) 95.7 (148.0)

The total contribution
made		 for the year ended ended 31 March 2021 was f381,000 (2020:6352,000),of which employer's (2020:6352,000),of which employer's contributions contributions totalled
f378,000 (2020:f321,000) and employees contributions totalled 63,000 (2020; 631,000). The agreed contribution rates for future years are
9.8% - 13.0%for employers and 6.9% - 9.1%for employees.
Yearto: 31.03.2021 31.03.2020
Fairvalueof
lan assets		 resentvaluesof DBobli ation and DBasset liabili 6'000s 8'000s
Fair value of plan assets 6,421 5,913
Present value of defined benefit obligation 7,613 6,495
Surplus
(deficit) in plan		 (1,192) (582)
Defined benefit asset (liability) to be recognised (1,192) (582)
Yearto: 31.03.2021
Reconciliation
of o enin		 and closin balances ofthe defined benefit obli ation 8'000s
Defined benefit obligation
at		 start of period 6,495
Current service cost 231
Expenses 6
Interest expense 153
Contributions
by plan participants		 3
Actuarial losses (gains) due to scheme experience (142)
Actuarial losses (gains) due to changes in demographic assumptions 27
Actuarial losses (gains) due to changes in financial assumptions 1,343
Benefits paid and expenses (503)
Defined benefit obligation at end of period 7,613

Notes to the Aocounts Notes to the Aocounts
for the year ended 31 March 2021
Year to: 31.03.2021
Reconciliation
of6 enin
and closin		 balances of the fair value of lan assets 6'000s
Fair value of plan assets at start of period 5,913
Interest income 140
Experience on plan assets (excluding amounts included in interest income) - gain (loss) 490
Contributions
by the employer		 378
Contributions
by plan participants		 3
Benefits paid and expenses (503)
Fair value ofplan assets at end of period 6,421
The actual return
on the plan assets		 (including any changes in share of assets) over the period ended 31 March 2021 was 6630,000.
Yearto: 31.03.2021
Defined benefit costs reco nised in Statement ofCom rehensive Income
SOCI		 6'0006
Current service cost 231
Expenses 6
Net interest expense 13
Defined benefit costs recognised in Statement ofComprehensive Income (SoCI) 250
Yearto: 31.03.2021
Defined benefit costs reco nised in Other Com rehensive Income OCI 6'0006
Experience on plan assets (excluding amounts included in net interest cost) - gain (loss) 490
Experience gains and losses arising on the plan liabilities - gain (loss) 142
Effects ofchanges
in the demographic		 assumptions underlying the present value ofthe DB obligation - gain (loss) (27)
Effects ofchanges
in the financial assumptions		 underlying the present value ofthe DBobligation - gain (loss) (1,343)
Total actuarial
gains and losses (before		 restriction due to some ofthe surplus not being recognisable) - gain (loss) (738)
Total amount recognised
in Other		 Comprehensive Income ~gain (loss) (738)

Year to: Year to: 31.03.2021 31.03.2020
Assets 6'000s 6'000s
Global Equity 1,024 865
Absolute
Return		 355 308
Distressed
Opportunities		 185 ff4
Credit Relative Value 202 162
Alternative
Risk Premia		 242 414
Fund of Hedge Funds 1 3
Emerging
Markets Debt		 259 179
Risk Sharing 234 200
Insurance-Linked
Securities		 154 182
Property 133 130
Infrastructure 428 440
Private Debt 153 ff9
Opportunistic
gliquid		 Credit 163 143
High Yield 192
Opportunistic
Credit		 176
Corporate
Bond Fund		 379 337
Liquid Credit 77 2
Long Lease Property 126 102
Secured Income 267 224
Liability
Driven Investment		 1,632 1,964
Net Current Assets 39 25
Total assets 6,421 5,913
None ofthe fair values ofthe assets shown above include any direct investments in the employer's own financial instruments or any Property
occupied by, or other assets used by, the employer.

Yearto: 31.03.2021 31.03.2020
~KA
e		 %pa % pa
Discount Rate 2.12 2.40
Inflation (RPI) 3.31 2.67
Inflation (CPI) 2.84 1.67
Salary Growth 3.84 2.67
Allowance
for commutation		 ofpension for cash at retirement 75%ofmax
allowance		 75%ofmax
allowance
Yearto: 31.03.2021
Mortali
assum		 tionsado tedat310321im I thefogowin lifeex ectanciesata e65 Expectancy
Male retiring
in		 2021 21.6
Female retiring in 2021 23.5
Male retiring
in		 2041 22.9
Female retiring in 2041 25.1
17 Related parties
Transact ions
as below:
Avante Care Services Ltd
2021 2020
f f
Balance at 01.04.2020 1,636,122 2,211,600
Recharges to Subsidiary 16,756,084 13,830,952
Management
charge to Subsidiary		 167,561 138,310
Repayments
from Subsidiary		 (17,315,125) (14,834,19/)
GIR Aid due to parent 350,669 289,451
Balance at31.03.2021 1,595,311 1,636,122
Avante Care Services Ltd
Summa of Balance Sheet 2021
f		 2020
f
Current assets 1,595,312 1,636,123
Current liabilities (1,595,311) (1,636,122)
Net current assets/(liabilities)
Capital and reserves 1 1

Avante Care Services Ltd
Summa
of		 Income and Retained Eamin s 2021
f		 2020
f
Turnover 17,274,314 14,258,713
Cost ofsales (16,756,084) (13,830,952)
Management fee (167,561) (138,310)
Giff Aid donation (350,669) (289,451)
Retained earnings at end of period

Year to: 31.03.2021 31.03.2020
Balance held as an agent at31.03.2020 540,402 519,279
Amount
invoiced		 as an agent during the year 609,045 834,689
Amount passed over to the London Borough of Bexley duding the year (592,502) (813,566)
Balance held as an agent at31.03.2021 556,945 540,402
a~ll fr I r Ir
Debtors outstanding
at year-end		 321,835 329,322
Funds awaiting transfer to London Borough of Bexley 235,110 211,080
Balance at 31.03.2021 556,945 540,402