##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|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|