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2023-03-31-accounts

2023 2022 2021
UK energy use
kwli 8,426,548 8,907,503 8,882,430
Associated greenhouse gas emissions
Tonnes C02 equivalent 1,697,945 1,786,873 1,789,649
Intensity
ratio
Emissions perf1 ofturnover 19.0 17.38 17.32

Identified
Risk		 Management/Actions Management/Actions
Strategic - 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 Itransfer t) Marketing
Team responsible
for		 communications
Increased CQC scrutiny g) Fire risk assessments,
additional		 training and plans for fire
Increased
Public Health
scrutiny		 safety improvements
Increased
Police scrutiny
Increased Safeguarding
scrutiny		 Actions: Media Training,
Fire Safety Training
Increased
Fire Safety scrutiny
Staff Behaviour
Inappropriate
use of Social Media
Strategic - Loss ofincome; a) Marketing
ofservices
b) Seeking growth
opportunities
and diversification
~ LA retendering
ofcommissioned		 services at c) EMT monitoring
ofperformance		 via KPls
uneconomic
rates or reduction		 in contracted d) Quality control inspections
including
external		 / Mock
selvlces Inspections
~ Unable to provide
LA reconh		 red services
~ LA / CQC sanctions LA / CQC sanctions LA / CQC sanctions LA / CQC sanctions LA / CQC sanctions LA / CQC sanctions re Safeguarding re Safeguarding re Safeguarding /Compliance e) Proactive management
—Needs Assessment		 tool tool in place to
causing embargos ensure that changes
in needs are being recorded correctly to
~ Closure of homes or reduction of beds/ loss of achieve appropriate
fees.
seNioes f) Networking
and relationships
with Commissioners
~ Reduction in private income i) Service development
plan for each home
~ More competition in the market j) Care and home care strategy
and workforce development
~ Failure to adapt to changing market requirements strategy
in place.
~ Fair Cost of Care Exercise & Funding Reforms k) Continue
to improve
our financial performance
through
increasing
occupancy
and the number ofself-funding
residents
—budget management-
new targets set each year
n) Quality strategy
o) minimise costs where appropriate
p) new enquiry
framework
and assessment
officer		 in place
Flexible Recruitment
Service to deliver resources
q) Property strategy
r) Virtual tours
in place
Actions:
Implement
revised Needs Assessment
Tool and		 room banding
lic
to achieve
r
riate fees
Strategic - Changing World; a) Forecast in place to enable scenario planning and stress
testing to be completed.
~ Keeping up with competitors in terms of b) Strategy and 3year business
plan
in place from		 Apr 21.
technology. Monitored
monthly
by EMT
~ Recruitment of Staff c) Engaging
with extra care suppliers
~ Ukraine d) Keeping
in touch with networks
to spot opportunities
~ Government impact on economy Actions:
Innovations
Group investigating
new technologies		 in care—
implementations
and pilots ongoing
Operational
-Effects		 ofNoncompliance (Organisational) 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
ofproperty
maintenance
~ Poor Governance h) ICT policy and security measures
in place
~
~
~		 Cyber Security
CQC Compliance
Fraud		 i) Fit and Proper Persons policy and procedures
for Trustees and Trustee recruitment
j) The Board ofTrustees have reviewed
and adopted
Governance
Code		 the
k) Board have delegated
to F&Rthe review of GDPR
I) Cyber Security- Regular review ofmeasures in place
m) Audit programme
both are service level and		 through QIP by
Quality Team
n) Staff trained
in medication
procedures
o) Fire Safety Works programme
commenced
Actions:
Implement
EMAR system
Operational
-Serious		 infection outbreak: a) Maintaining
infection
control systems
& audit		 thereof
b) Legionella
Policy with planned
inspections
~ Viral/ Bacterial c) ASBstaff cover to maintain
continuity
ofpractice		 delivery
~ Loss ofincome d) Regular updates
on Best Practice
~ Loss ofReputation e) BiAnnual
Kitchen deep clean
~ Reduction in staff / residents f) Chlorine
dosing system
roll out
g) Proactive action plan and core competencies for infection
control
h) Annual
Infection
control statement
completed		 for C&CQ
k) Corona Virus -following
government
and NHS
recommendations
and keeping
up to date on these.
m Ensudin
staffhaveade
uate PPE

Simplified
Operating
Statement
for the year ended 31 March 2023
2023 2022
Charitable
activities		 Note
Income from Care Homes services 2 29,975,164 25,264,104
Expenditure
on Care Home services		 3 (27,900,911) (25,209,367)
Surplus/(Deficit)
on Care Home services		 2,074,253 54,737
Income from Homes Care 8 Support services 2 2,577,493 3,572,216
Expenditure
on Home Care &Support services		 3 (2,983,416) (3,838,141)
Deficit on Home Care &Support services (405,923) (265,925)
Surplus/(Deficit)
from charitable
activities		 1,668,330 (211,188)
Voluntary
and other activities
Income from donations,
legacies and grants		 25,127 1,891,134
Other trading
income		 52,888 8,554
Miscellaneous
income		 5,366 64,899
Profit on sale offixed assets
Income from voluntary
and other activities		 83,381 1,964,587
Surplus from voluntary
and other activities		 83,381 1,964,587
Net income before other recognised
gains/losses		 1,751,711 1,753,399

Unrestricted Restricted Total Unrestricted Restricted Totalas
Restated
funds funds 2023 funds funds 2022
Income from: f
Donations,
legacies and grants		 25,127 25,127 1,891,134 1,891,134
Charitable
activities		 2 32,552,657 32,552,657 28,836,320 28,836,320
Other trading
income		 52,888 52,888 8,554 8,554
Other income 5,366 5,366 8,760 8,760
Other income - furlough 56,139 56,139
Total income 32,610,911 25,127 32,636,038 28,909,773 1,891,134 30,800,907
Expenditure
on:
Charitable
activities
-Care Home services 27,870,312 30,599 27,900,911 23,591,025 1,618,342 25,209,367
- Home Care &Support services 2,982,921 495 2,983,416 3,568,859 269,282 3,838,141
Total expenditure 3 30,853,233 31,094 30,884,327 27,159,884 1,887,624 29,047,508
Net incomei(expenditure) 1,757,678 (5,967) 1,751,711 1,749,889 3,510 1,753,399
Other recognised
gains(losses
Act'I gain/(loss)
on pension		 liability 16 1,587,825 1,587,825 1,189,968 1,189,968
Net movement
in funds		 3,345,503 (5,967) 3,339,536 2,939,857 3,510 2,943,367
Balance bifwd at 01 April
As Previously
Reported		 55,832,882 71,338 55,904,220 54,284,025 67,828 54,351,853
Prior Year Adjustment (1,391,000) (1,391,000)
As Restated 55,832,882 71,338 55,904,220 52,893,025 67,828 52,960,853
Balance cifwd at 31 March 59,178385 65,371 59,243,756 55,832,882 71338 55,904,220

Total as Restated Total as Restated
2023 2022
Consolidated Charity Consolidated Charity
Only Only
Fixed assets Note 6 6
Tangible fixed assets 6 63,267,348 63,267,348 62,671,165 62,671,165
Investment 1 1
63,267,348 63,267,349 62,671,165 62,671,166
Current assets
Debtors 7 3,327,624 2,026,397 2,568,910 1,428,863
Amounts
owed by group undertakings		 17 2,362,100 2,201,725
Short term deposits 1.11 3,031,066 3,031,066 2,853,555 2,853,555
Cash atbank andin hand 1.11 2,988,258 1,927,384 4,120,132 3,058,453
9,346,948 9,346,947 9,542,597 9,542,596
Creditors: amounts falling due within one year
Creditors
falling due		 within one year 8 4,891,433 4,891,433 4,949,725 4,949,725
Capital repayments due within one year
on long term loans 10 699,189 699,189 699,189 699,189
Creditors: amounts falling due within one year 5,590,622 5,590,622 5,648,914 5,648,914
Net current assets 3,756,326 3,756,325 3,893,683 3,893,682
Total assets less current liabilities 67,023,674 67,023,674 66,584,848 66,564,848
Creditors: amounts falling due after one year
Interest rate swap liability (14,849) (14,849) (281,430) (281,430)
Bank loan accounts 10 (6,642,297) (6,642,297) (7,341,487) (7,341,487)
Net assets excluding pension liability 60,366,528 60,366,528 58,941,931 58,941,931
Pension Asset 16 93,000 93,000
Pension
liability		 16 (1,215,772) (1,215 772) (3037,711) (3037,711)
Net assets 59,243,756 59,243 756 55904220 55,904,220
Represented
by:
Unrestricted
funds excluding		 pension liability 45,162,484 45,162,484 43,731,920 43,731,920
Pension
liability		 (1,122772) (1,122,772) (3,037,711) (3037,711)
Revaluation
reserve		 15,138,673 15,138,673 15,138,673 15,138,673
Total unrestricted funds 59,178,385 59,178,385 55,832,882 55,832,882
Restricted funds 65,371 65,371 71,338 71,338
Balance carried forward at 31.03.2023 59,243,756 59243 756 55904,220 55,904,220
tots/as
2023 Restated
2022
Cash flows from operating activities Notes
Net income/(expenditure) 1,751,711 1,753,399
Pension
contribution
less current service		 and finance cost 16 (327,114) 36,141
Interest paid 4 349,788 473,325
Depreciation
charge		 6 1,179,756 1,078,967
Decrease/(increase)
in debtors		 (758,714) (346,327)
(Decrease)/increase
in creditors		 (324,873) (255,552)
Net cash generated
from		 operating activities 1,870,554 2,739,953
Cash flows from investing activities
Payments
to acquire tangible		 fixed assets 6 (1,775,937) (973,169)
Net cash generated
from		 investing activities (1,775,937) (973,169)
Cash flows from financing activities
Loans repaid (699,189) (699,189)
Interest paid on long-term loans 4 (349,788) (473,325)
Net cash used by financing activities (1,048,977) (1,172,514)
Net Increase/(decrease)
in		 cash (255,174) 1,293,459
Cash and cash equivalents at beginning ofyear (1,066,990) (2,360,448)
Cash and cash equivalents at the end of the year (1,322,164) (1,066,989)
Analysis
of net debt		 At 31.03.2022 Cash flow At 31.03.2023
Short-term
deposits		 2,853,555 177,511 3,031,066
Cash at bank and in hand 4,120,132 (1,131,874) 2,988,258
Netcash 6,973,687 (954,363) 6,019,324
Changesin
debt; bankloan		 (8,040,677) 699,189 (7,341,488)
Changes
in net debt		 (1,066,990) (255,174) (1,322,164)

2 Income
2022 total as
restated
Charitable activities f f
Care Homes 29,975,164 25,264,104
Home Care &Support 2,577,493 3,572,216
32,552,657 28,836,320
2022 total as
restated
Government grants f
Covid-19 grant income - Infection Control, LFD Testing and Workforce Capacity (131) 1,870,041
Furlough grants 56,139
(131) 1,926,180

Sta« Other direct Support
costs costs costs Governance Total 2023
Charitable activities f f f f f
Care Homes 18,820,455 5,519,631 3,006,619 554,206 27,900,911
Home Care &Support 2,184,878 407,805 343,078 47,655 2,983,416
21,005,333 5,927,436 3,349,697 601,861 30,884,327
Staff Other direct Support Total as
costs costs costs Governance Restated 2022
Charitable activities f f f
Care Homes 17,303,984 5,130,557 2,320,512 454,314 25,209,367
Home Care & Support 2,960,153 415,954 397,796 64,238 3,838,141
20,264,137 5,546,511 2,718,308 518,552 29,047,508
3.2Analysis of support costs
Home Care & Home Care 8 Total as
Care Homes Support Total 2023 Care Homes Support Restated 2022
f f f' f
Staffcosts 2,098,837 239,493 2,338,330 1,722,664 295,309 2,017,973
Premises 102,973 11,750 114,723 91,356 15,661 107,017
Operating costs 792,243 90,401 882,644 494,541 84,777 579,318
Depreciation 12,566 1,434 14,000 11,951 2,049 14,000
3,006,619 343,078 3,349,697 2,320,512 397,796 2,718,308
3.3Analysis ofgovernance costs
Home Care & Home Care & Total as
Care Homes
f		 Support
f		 Total 2023
f		 Care Homes Supportf Restated 2022
Support costs 267,965 23,042 291,007 219,425 31,026 250,451
Audit 36,234 3,116 39,350 29,096 4,114 33,210
Valuations 10,122 870 10,992 9,584 1,355 10,939
Trustee expenses 17,352 1,492 18,844 9,206 1,302 10,508
Other (35,970) (3,093) (39,063) (19,836) (2,805) (22,641)
Strategy 258,502 22,228 280,730 206,839 29,246 236,085
554,205 47,655 601,860 454,314 64,238 518,552

2023 2022as
Restated
Total remuneration payable tothe charity's auditor in the period: f
Statutory audit: Charity 30,250 25,850
Subsidiary 4,250 3,150
34,500 29,000
Non-audit services: 6,864 1,416
3.5 Net Income
2023 2022as
Restated
Net income is stated after charging:
Operating lease payments 684,372 654,988
Profit on sale offixed assets
Depreciation 1,179,756 1,078,967
Auditors remuneration Audit 34,500 29,000
VAT Advice Additional work 6,864 1,416
1,905,492 1,764,371
4 Interest payable
2022as
2023 Restated
f
On bank loans and overdrafts 349,788 473,325
349,788 473,325
5Operating
leases
These are the commitments for operating leases during the coming year in respect ofleases terminating:
2023 2022as
Restated
f f
Under 1 year: Land and buildings 632,609 611,419
Others (motor vehicles, photocopiers, franking machines) 70,804 75,808
Within 2 to 5years: Land and buildings 2,561,428 2,486,244
Others (motor vehicles, photocopiers, franking machines) 23,070 93,874
Over 5years: Land and buildings 18,636,986 18,925,400
Others (motor vehicles, photocopiers, franking machines)
21,924,897 22,192,745
During the year costs ofF684,372 were incurred against the operating leases listed above (2022:f650,532).

6 Fixed assets
Consolidated
and Charity
6.1 Analysis
of movement		 offixed assets
Freehold Leasehold Computer Fixtures & Motor Work in
Property Improv'ts Equipment Fittings Vehicles Progress Total
Cost/valuation 6 Z 6 6 f 6
At 01.04.2022 63,223,078 158,714 788,410 1,843,227 192,870 134,107 66,340,406
Additions 146,415 268,853 52,328 998,615 309,726 1,775,937
Disposals
Revaluations/Impairments
Reclassification (225,250) 225,250
At 31.03.2023 63,144,243 652,817 840,738 2,841,842 192,870 443,833 68,116,343
Depreciation
At 01.04.2022 2,008,892 20,029 583,585 878,531 178,202 3,669,239
Charge for year 674,735 22,014 100,360 377,518 5,129 1,179,756
Disposals
Revaluations/Impairments
At 31.03.2023 2,683,627 42,043 683,945 1,256,049 183,331 4,848,995
subjecttoa
Net book value
As at 31.03.2023 60,460,616 610,774 156,793 1,585,793 9,539 443,833 63,267,348
porffolioofpropertieswas
As at 01.04.2022 61,214,186 138,685 204,825 964,696 14,668 134,107 62,671,167

2023 2022as
Restated
6
Cost 51,147,393 50,654,580
Accumulated depreciation (11,688,703) (10,822,209)
Net book value 39,458,690 39,832,371

7Current debtors
2023 2022 total as restated
Consolidated Charity
Only		 Consolidated Charity Only
6
Trade debtors 1,781,781 856,349 1,668,825 914,764
Other debtors 9,576 9,576 6,876 6,676
Prepayments 489,147 489,147 453,149 453,149
Accrued income 1,047,120 671,325 440,060 54,074
3,327,624 2,026,397 2,568,910 1,428,863
Consolidated Charity Only Consolidated Charity Only
f
Interest rate swap asset/(liability) (88,594) (88,594) 120,735 120,735
Trade creditors 668,436 668,436 1,043,849 1,043,849
Other taxes and social security 738,274 738,274 768,473 768,473
Other creditors 1,433,085 1,433,085 1,267,531 1,267,531
Accru ale 1,788,002 1,788,002 1,581,971 1,581,971
Deferred income (note 9) 352,230 352,230 167,169 167,169
4,891,433 4,891,433 4,949,728 4,949,728

13Anal ysis
of net assets b		 etween funds
Unrestricted Restricted 2023
funds funds Total
6
Tangible fixed assets 63,267,348 63,267,348
Net current assets (excluding bank loans and swaps liability due) 4,301,550 65,371 4,366,921
Interest rate swap asset 73,745 73,745
Bankloans (7,341,486) (7,341,486)
Pension assets (1,122,772 (1,122,772)
59,178,385 65,371 59,243,756
2022
Unrestricted Restricted Total as
funds funds Restated
f
Tangible fixed assets 62,671,165 62,671,165
Net current assets (excluding bank loans and swaps liability) 4,642,269 71,338 4,713,607
Interest rate swap liability (402,165) (402,165)
Bank loans (8,040,676) (8,040, 676)
Pension liabilities (3,037,711) (3,037,711)
55,632,862 71,338 55,904,220

14Funds analysis
Revaluation/
Unrestricted Capital Restricted 2023
funds * reserve funds Total
f f
Brought forward
at		 01.04.2022 40,694,209 15,138,673 71,338 55,904,220
Net income/(Expenditure) 1,757,678 (5,967) 1,751,711
Revaluation
gain/(loss)
on		 Property
Actuarial
gain on pension		 liability 1 587825 1 587825
Carried forward
at		 31.03.2023 44,039,712 15,138,673 65,371 59,243,756
Revaluation/ 2022
Unrestricted Capital Restricted Totalas
funds * reservef fundsf Restated
f
Brought forward at 01.04.2021 39,145,352 15,138,673 67,828 54,351,853
Net income/(Expenditure) 1,749,889 3,510 1,753,399
Revaluation
gain/(loss)
on		 Property
Actuarial
gain on pension		 liability (201,032) (201,032)
Movement
between		 reserves
Carried forward at 31.03.2022 40,694,209 15,138,673 71,338 55,904,220

2022
Em
lo eecostsdurin		 the earwere 2023 as Restatedf
Salaries and wages 18,875,693 19,032,339
Agency costs 2,779,010 1,437,502
Staff recruitment
and		 training 349,526 315,568
Employer's
social security costs		 1,431,976 1,305,996
Employer's
pension		 costs 606,570 794,765
24,042,775 22,886,170
A~Id
Charitable
activities		 21,132,709 20,381,661
Support costs 2,338,330 2,017,973
Governance
costs		 571,736 486,536
24,042,775 22,886,170
Included
in employee		 costs above are redundancy payments of: 40,471 23,912
~d
The number ofemployees whose emoluments for the year fell within each ofE10,000from E60,000 upwards was as follows:
Number ofemployees
Emoluments: 2023 2022
f60,000to E70,000
f70,000to E80,000
f80,000tof90,000
f90,000tof100,000
f100,000 to f110,000
E110,000 to E120,000
f120,000 to E130,000
f130,000 to f140,000

As Restated Other Actuarial
2022 Movements (gain)/loss 2023
6 6 6
Kent County
Council (KCC LGPS)		 1,381,000 40,000 (1,421,000)
London Borough ofBexley (LBBLGPS) (171,000) 78,000 (93,000)
Royal Borough ofGreenwich
(RBG LGPS)		 533,711 37,886 (439,825) 131,772
Social Housing
Pension Scheme (SHPS)		 1,123,000 (234,000) 195,000 1,084,000
3,037,711 (327,114) (1,587,825) 1,122,772

E'ees in scheme
Rate of Contribution 2023cost at 31.03.23
Employer's Employee's 6
SHPS CARE/60th
(commenced 01.07.2020)		 13 Oo/o 9 1'/o 175,822 6
SHPS CARE/80th 9 8'/ 6 go/o 308,921 12
SHPS FRP auto-enrolment 3 Oo/o 5.0'/o 275,137 737
SHPS defined
contribution		 scheme up to 5.55'/o Variable 29,571 13
KCC pensions
(LGPS)		 46 5'/ 5.8'/o, 6.5,6.8 '/o 63,010 2
RBG pensions
(LGPS)		 16.5'/o 6.8'/o 17,261 2
LBBpensions
(LGPS)		 19.9'/o 5.5/o 5.8/o &6.5/o 28,931 3
898,653 775
Anal
isofschemecostsb		 schemet
- Defined
Contribution		 304,708
- Defined Benefit 593,945
898,653

31.03.2023 31.03.2022 31.03.2021
%pa %pa % pa
2.90 3.35 2.85
3.90 4.35 3.85
4.80 2.60 1.90

31.03.2023 31.03.2023 31.03.2022
AFTER BEFORE
CMI 2020 update CMi 2020 update
Retiring today
Males 21.1 21.6 21.6
Females 23.5 23.7 23.7
Retiring in 20years
Males 22.3 23.0 23.0
Females 25.0 25.1 25.1
Balance sheet disclosures
31.03.2023 31.03.2022
Fairvalueofem 0 erassetsasRestated 6'0006 E'0006
Equities 5,815 6,107
Gilts 50 58
Bonds 1,197 1,303
Property 910 1,111
Cash 163 201
Target return porffolio 668 698
Infrastructure 310
9,113 9,478
Balance shee Restated 6'000s 8'000s
Fair value ofemployer assets 9,113 9,478
Present value of funded liabilities (8,122) (10,859)
Restriction of Asset to Pension Asset Ceiling (991)
(1,381)

Yearto: 31.03.2023 31.03.2022
Revenue account reco nition f'000s f'000s
Current service cost 41 59
Net interest on the defined liability (asset) 35 33
Administration
expenses		 6 6
82 98
Year to: 31.03.2023 31.03.2022
Reconciliation
ofdefined benefit		 obli ation f'000s f'000s
Opening
defined benefit obligation		 10,859 11,373
Current service cost 41 59
Interest cost 275 212
Contributions
by members		 6 6
Experience loss/(gain)
on		 defined benefit obligation 775 26
Past service costs, including
curtailments
Changes
in financial
assumptions		 (3,081) (361)
Change
in demographic
assumption		 (198)
Estimated
benefits paid		 (555) (458)
Closing defined
benefit obligation		 8,122 10,859
Year to: 31.03.2023 31.03.2022
Reconciliation
ofo enin		 &closin balances ofthe fair value of Fund assets f'0006 f'000s
Opening
fair value of Fund assets		 9,478 9,635
Interest on assets 240 179
Return on assets less interest (120) 63
Other actuarial gains/(losses) 28
Contributions
by Scheme		 participants and other employers 8
Contributions
by employer		 including unfunded 42 57
Estimated
benefits
paid plus unfunded		 net oftransfers in (555) (458)
Administration
expenses		 (6) (6)
Closing fair value of Fund assets 9,113 9,478
31.03.2023 31.03.2022 31.03.2021 31.03.2020 31.03.2019
Amounts for current & revious eriods as Restated f'000s f'000s f'000s f'0006 f'000s
Defined benefit obligation (8,122) (10,859) (11,373) (10,132) (11,158)
Scheme assets 9,113 9,478 9,635 7,745 8,901
Surplus/(deficit) ggl (1,381) (1,738) (2,387) (2,257)

Yearto: 31.03.2023
6'000s
Ad ustment
to discount
rate		 +0 1% 0.0% (0.1%)
Present value total obligation 7,331 8,122 9,071
Projected service cost 16 20 26
Ad ustment
to ion
term sais		 increase +0.1% 0.0% (0.1%)
Present value total obligation 8,140 8,122 8,104
Projected service cost 21 20 20
Ad ustment
to
ension increases		 and deferred revaluation +0.1% 0.0% (0.1%)
Present value total obligation 9,062 8,122 7,329
Projected service cost 26 20 15
Ad ustment
to life ex
ctanc		 assum 'ons +1 Year None -1 Year
Present value total obligation 8,525 8,122 7,740
Projected service cost 21 20 20
31.03.2023 31.03.2022
Remeasurement
ofthe net assets		 / (defined liability) 8'000s 6'000s
Return on Fund assets
in excess		 ofinterest (120) 63
Other actuarial
gains/(losses)		 on assets 28
Change
in financial
assumptions		 3,081 361
Experience gain/(loss)
on defined		 benefit obligation (775) (26)
Change
in demographic
assumptions		 198
Remeasurement
ofthe net		 assets / (defined liability) 2,412 398

31.03.2023 31.03.2022 31.03.2021
Financial assumptions %pa %pa %pa
CPI inflation
rate		 2.7 3.5 2.7
Pension increase rate 2.8 3.6 2.8
Salary increases 4.2 5.0 4.2
Discount rate 4.9 2.8 2.1

Fair value ofem Fair value ofem I er assets
Equities
Government bonds
Other bonds
Property
Cash/liquidity
Other
Males Females
22.9 25.7
21.8 24.0
31.03.2023 31.03.2022
6'0005 E'000s
4,080 4,443
3,698 1,939
3,329
1,785 1,607
1,020 970
2,168 2,185
12,751 14,473
Balance sheet as Restat 8'000s 6'000s
Fair value ofemployer assets 12,751 14,473
Present value offunded
liabilities		 (9,148) (13,082)
Restriction ofAsset to Pension Asset Ceiling (3,510) (1,391)
93
Revenue account costs
Yearto: 31.03.2023 31.03.2022
Revenue account reco
nition		 K'000s 8'0006
Current service cost 27 35
Net interest cost (39) (15)
Administration
expenses		 1 1
Past service cost (gain)
21
Yearto: 31.03.2023 31.03.2022
Statement ofother com rehensive income 8'000s E"000s
Remeasurements
(liabilities		 and assets) (2,041) (681)
Total remeasurements
included		 in SOCI (2,041) (681)
Year to: 31.03.2023 31.03.2022
Reconciliation
of defined		 benefit obli ation Z'0006 6'000s
Opening
defined benefit obligation		 13,082 13,257
Current service cost 27 35
Interest cost 360 273
Contributions
by members		 4 7
Past service cost/(gain) (604)
Experience
(gain)/loss		 419 35
Actuarial
losses/(gains)		 (3,787) 61
Estimated
benefits paid		 (353) (586)
Closing defined benefit obligation 9,148 13,082
Year to: 31.03.2023 31.03.2022
Reconciliation
offair value of		 em lo erassets 6'0006 8'000s
Opening
fair value ofemployer assets		 14,473 13,988
Expected return
on assets		 399 288
Contributions
by members		 4 7
Contributions
by employer		 160
Actuarial
gain/(loss)		 (1,680) 7TT
Benefits paid (604) (586)
Administration
expenses		 (1) (1)
Closing fair value of employer assets 12,751 14,4T3

31.03.2023 31.03.2022 31.03.2021 31.03.2020 31.03.2019
Amounts for current & revious rinds 8'000s 6'000s 8'0006 E'0006 F.'000s
Defined benefit obligation (9,148) (13,082) (13,257) (12,316) (13,241)
Scheme assets 12,751 14,473 13,988 12,510 13,327
Surplus/(deficit) 3,603 1,391 731 194 86
Experience adj on scheme assets (1,680) 777 1,702 (592) 909
Experience adj on scheme liabilities (3,787) 61 1,402 (835) 686
Year to: 31.03.2024
~nd E'000s
Service cost 14
Interest cost (177)
Administration expenses 1
(162)
Year to: 31.03.2023
E'000s
Discount Increase in life
Central rates Inflation Pay Growth expectancy
Adjustment to rate +0.5% 025% +0.25% 1 Year
Present value total obligation 9,148 8,657 9,406 9,157 9,348
Projected service cost 14 12 14 14 14

n~ii
I		 r
Pension increases (CPI)
Salary increases
Discount rate
31.03.2023 31.03.2022 31.03.2021
%pa %pa %pa
2.90 3.40 2.85
3.90 4.40 3.85
4.80 2.60 1.90

31.03.2023 31.03.2022
Retiring today
Males 19.6 20.5
Females 23.0 23.4
Retiring in 20 years
Males 21.0 22.0
Females 24.5 25.0
Balance sheet disclosures
31.03.2023 31.03.2022
Estimated asset allocation for Avante Care 8Su rt 6'0005 f'000s
UK Equities 818.8 950.1
Other bonds 351.2 287.9
Property 154.2 181.4
Cash 26.5 41.7
Unitised insurance
policies
UK &overseas unit trusts 192.8 204.6
1,543.5 1,665.7
Balance sheet 8'000s 6'0005
Fair value ofemployer assets 1,543.5 1,665.7
Present value offunded liabilities (1,675.3) (2,199.4)
(131.8) (533.7)

Year to 31.03.2023 31.03.2022
Revenue account reco nition f'000s f'000s
Service cost 46.7 69.9
Net interest on the defined liability (asset) 13.6 11.2
Administration
expenses		 1.1 1.1
61.3 82.2
Year to: 31.03.2023 31.03.2022
Reconciliation
ofo
nin
and closin		 balances of resent value ofthe defined benefit obli ation f'0006 f"000s
Opening
defined benefit obligation		 2,199.4 2,086.0
Current service cost 46.7 69.9
Interest cost 56.2 40.1
Change
in financial
assumptions		 (787.0) (49.0)
Change
in demographic
assumptions		 (112.6)
Experience loss/(gain)
on		 defined benefit obligation 352.4 5.3
Estimated
benefits paid net oftransfers		 in (87.7) 38.0
Past service costs, including
curtailments
Contributions
by scheme		 participants and other employers 7.9 9.3
Closing defined benefit obligation 1,675.3 2,199.4
Year to: 31.03.2023 31.03.2022
Reconciliation
ofo
nin
and closin		 balances of resent value ofthe fair value of Fund assets f'0006 f'000s
Opening
fair value of Fund assets		 1,665.7 1,484.4
Interest on assets 42.6 28.9
Return
on assets less interest		 (85.8) 79.2
Other actuarial
gains/(losses)		 (21.6)
Administration
expenses		 (1.1) (1.1)
Contributions
by employer		 including unfunded 23.4 27.0
Contributions
by Scheme		 participants and other employers 7.9 9.3
Estimated
benefits paid plus unfunded		 net oftransfers in (87.7) 38.0
Closing fair value of Fund assets 1,543.5 1,665.7
31.03.2023 31.03.2022 31.03.2021 31.03.2020 31.03.2019
Amount
for current 8		 revious riods f'000s f'0006 f'000s f'000s f'000s
Defined benefit obligation (1,675) (2,199) (2,086) (1,914) (2,291)
Scheme assets 1,543 1,666 1,484 1,253 1,817
Surplus/(deficit) (132) (534) (602) (661) (474)

Year to: 31.03.2024
~rt
d		 8'0006
Service cost 21.0
Net interest on the defined
liability		 (asset) 5.8
Administration
expenses		 1.0
27.8
Employer
contdibutions		 23.4
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:
Yearto: 31.03.2023
6'0006
Ad ustment to discount
rate		 +0 1% 0.0% (0.1%)
Present value total obligation 1,656 1,675 1,695
Projected service cost 20 21 22
Ad ustment to ion
term sale		 increase +0 1% 0.0% (0.1%)
Present value total obligation 1,677 1,675 1,673
Projected service cost 21 21 21
Ad ustment to
nsion increases		 and deferred revaluation +0.1% 00 (0.1%)
Present value total obligation 1,694 1,675 1,657
Projected service cost 22 21 20
Ad'ustment
to life ex ectanc		 assum tions +1 Year None -1 Year
Present value total obligation 1,771 1,675 1,585
Projected service cost 22 21 20
31.03.2023 31.03.2022
Remea
r mentofthenetassets/		 definedliabili 6'000s 6'000s
Return on Fund assets in excess of interest (85.8) 79.2
Other actuarial gains/(losses)
on		 assets (21.6)
Change
in financial
assumptions		 787.0 49.0
Change
in demographic
assumptions		 112.6
Experience gain/(loss)
on defined		 benefit obligation (352.4) (5.3)
Remeasurement
ofthe net assets		 / (defined liability) 439.8 123.0

Notes to the Accounts
for the year ended 31 March 2023
Yearto: 31.03.2023
Reconciliation
ofo
nin
and closin		 balances ofthe fair value of lan assets 6'0006
Fair value of plan assets at start ofperiod 6,350
Interest income 181
Experience
on plan assets (excluding		 amounts included in interest income) - gain (loss) (2,340)
Contributions
by the employer		 475
Contributions
by plan participants		 2
Benefits paid and expenses (192)
Fair value of plan assets at end of period 4,476
The actual
return
on the plan assets		 (including any changes in share of assets) over the period ended 31 March 2023 was 6630,000.
Yearto: 31.03.2023
Defined benefit costs reco nised in Statement ofCom rehensive Income
SOCI		 6'0006
Current service cost 206
Expenses 7
Net interest expense 28
Defined benefit costs recognised in Statement ofComprehensive Income (SoCI) 241
Yearto: 31.03.2023
Defined benefit costs rec
nised		 in Other Com rehensive Income OCI 6'0006
Experience on plan assets (excluding amounts included in net interest cost) —gain (loss) (2,340)
Experience gains and losses arising on the plan liabilities - gain (loss) 259
Effects ofchanges
in the demographic		 assumptions underlying the present value ofthe DB obligation - gain (loss) 13
Effects ofchanges
in the linancial
assumptions		 underlying the present value ofthe DBobligation - gain (loss) 1,873
Total actuarial
gains and losses (before		 restriction due to some ofthe surplus not being recognisable) - gain (loss) (195)
Total amount recognised
in Other		 Comprehensive Income - gain (loss) (195)

Yearto: 31.03.2023 31.03.2022
Assets 6'0006 8'000s
Global Equity 84 1,218
Absolute
Return		 48 255
Distressed
Opportunities		 135 227
Credit Relative Value 169 211
Alternative
Risk		 Premia 8 209
Fund ofHedge Funds
Emerging
Markets Debt		 24 185
Risk Sharing 330 209
Insurance-Linked Securities 113 148
Property 193 171
Infrastructure 511 452
Private Debt 199 163
Opportunistic
llliquid		 Credit 192 213
High Yield 16 55
Opportunistic
Credit		 23
Cash 32 22
Corporate
Bond Fund		 424
Liquid Credi'
Long Lease Property 135 163
Secured Income 205 237
Liability
Driven		 Investment 2,062 1,772
Currency
Hedging		 9 (25)
Net Current Assets 11 18
Total assets 4,476 6,350
Yearto: Yearto: 31.03.2023 31.03.2022
~Ke
A
9		 %pa %pa
Discount Rate 4.89 2.79
Inflation (RPI) 3.20 3.66
Inflation (CPI) 2.72 3.23
Salary Growth 3.72 4.23
75%ofmax 75%ofmax
Allowance
for commutation		 of pension for cash at retirement allowance allowance
Year to: 31.03.2023
rtali
assu
ionsado		 edat310323im I
thefollowi		 lifee ectanciesata e65 Expectancy
Male retiring
in 2023		 21.0
Female retiring
in 2023		 23.4
Male retiring
in 2043		 22.2
Female retiring
in 2043		 24.9
17 Related parties
There have been no related party transactions that require disclosure other than transactions with the wholly owned subsidiary company, Avante
Care Services Ltd (a limited company that carries out trading activities on behalf ofthe charity registered in England &Wales no. 09402720).
Transactions
as below:
Avante Care Services Ltd
2023 As Restated
2022f
Balance at 01.04.2022 2,201,725 1,595,311
Recharges
to Subsidiary		 15,199,849 16,861,336
Management
charge to Subsidiary		 151,999 168,613
Repayments
from Subsidiary		 (15,509,573) (16,858,624)
Gift Aid due to parent 318,100 435,088
Balance at31.03.2023 2,362,100 2,201,724
Avante Care Services Ltd
Summa
of Balance Sheet		 2023 As Restated
2022
Current assets 2,362,100 2,201,725
Current
liabilities		 (2,362,100) (2,201,724)
Net current assets/(liabilities)
Capital and reserves

Avante Care Services Ltd
As Restated
Summa
of		 Income nd Retained Earnin s 2022
Turnover 15,669,948 17,465,037
Cost ofsales (15,199,849) (16,861,336)
Management fee (151,999) (168,613)
Gift Aid donation (318,100) (435,088)
Retained
earnings		 at end of period

As Restated
2022f
Balance held as an agent at 31.03.2022 25,539 556,945
Amount invoiced as an agent during the year (25,089) (20,483)
Amount passed over to the London Borough of Bexley during the year (450) (510,923)
Balance held as an agent at 31.03.2023 (0) 25,539
~hit
fh		 I h
Id:
Debtors outstanding
at year-end		 (0) 25,479
Funds awaiting transfer to London Borough ofBexley 60
Balance at 31.03.2023 (0) 25,539