##
|Trustees report|2 to 7|
|---|---|
|Trustees responsibilities
statement||
|Independent
auditors report|9 toll|
|Introduction
to the financial statements|12|
|Group statement offinancial activities|13|
|Group balance sheet|14|
|Trust balance sheet|15|
|Group cash flow statement|16|
|Notes to the cash flow statement|17|
|Notes to the financial statements|18to49|
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
||||2021|2020|
|---|---|---|---|---|
||||8000|f000|
|INCOME|AND ENDOWMENTS FROM:||||
|Donations|and legacies||2,996|1,790|
|Investment|income||122|125|
||||3,118|1,915|
|EXPENDITURE ON:|||||
|Raising funds|||98|74|
|Charitable|activitiesi||||
|Financial assistance||to Water Park Ltd|743|681|
|Grant to institutions||other than Water Park Ltd|1,266|334|
||||2,107|1,089|
|Operating|surplus||1,011|826|
|Net gains|on investments||10,061|2,907|
|NKT MOVKMKNT||IN FUNDS|11,072|3733|
##
##
||||2021|2020|
|---|---|---|---|---|
||||Total funds|Total funds|
|||Notes|g'000|5'000|
|INCOME AND ENDOWMENTS|FROM||||
|Donations
and legacies|||I||
|Commercial
trade operation|||176,498|219,167|
|Charitable
activities|||||
|Third party fee income paid to Water Park|||200|145|
|Other income|||46|174|
|Investment
income|||42|45|
|Total incoming resources|||176,787|219,531|
|RESOURCES EXPENDED|||||
|Costs ofgenerating
funds|||||
|Raising funds|||22|1|
|Commercial
trade operation|||171,285|212,103|
|Charitable
activities|||||
|Grants to other Charitable
bodies|||1,266|334|
|Costs ofoperating
Water Park and|governance||||
|activities|||985|993|
|Total resources expended|||173,558|213,431|
|Gain on revaluation
ofinvestment|property||4,965|347|
|Net gains on investments|||327|235|
|NET INCOME|||$5521|6,682|
|Other recognised
(losses)/gains|||||
|Re-measurement
ofthe net defined|benefit liability||296|(367)|
|Share ofcomprehensive
loss ofjoint ventures||dt associates|(1877)|(1,999)|
|Effective portion ofchanges in fair value ofcash flow hedge
Deferred tax on other comprehensive
(income)/loss|||3,713
~81|(1,049)
466|
||||2,551|(2,949)|
|Total income for the year|||11,072|3,733|
|RECONCILIATION
OF FUNDS|||||
|Total funds brought forward|||$1,762|78,029|
|TOTAL FUNDS CARRIED FORWARD|||9~2834|81,762|
##
##
|||At 31December 2|021||
|---|---|---|---|---|
||||2021|2020|
||||Total funds|Total funds|
|||Notes|8'000|OOOO|
|FIXEDASSETS|||||
|Goodwill||15|1,406|1,181|
|Tangible assets||16|4,081|4,202|
|Investments|||||
|Investments||17|9,473|7,642|
|Investment
property||18|8~6335|78,132|
||||101,295|91,157|
|CURRENT ASSETS|||||
|Stocks||19|25,048|24,447|
|Debtors||20|84,040|80,662|
|Cash at bank|||2~3270|27,628|
||||132458|132,737|
|CREDITORS|||||
|Amounts
falling due within one year||21|(63,490)|(61,759)|
|NET CURRENT ASSETS|||68,868|70,978|
|TOTAL ASSETSLESSCURRENT|||||
|LIABILITIES|||170,163|162,135|
|CREDITORS|||||
|Amounts
falling due after more than one year||22|(67,256)|(72,393)|
|PROVISIONS FORLIABILITIES|||||
|Deferred tax liability||26|(6,407)|(3,786)|
|Pensions and sinular obligations||27|(3,594)|(4,104)|
|Other provisions||28|('72)|(90)|
|NET ASSETS|||9~2834|81,762|
|FUNDS||29|||
|Unrestricted
funds|||9~2834|81,762|
|TOTALFUNDS
The financial
statements|were approved by the|9~2834
Board ofTrustees on~~~6||81,762|
##
##
|TR|UST BALANCE SHEET|||
|---|---|---|---|
||31December 2021|||
|||2021|2020|
|||Total funds|Total funds|
||Notes|I'000|8000|
|FIXEDASSETS||||
|Tangible assets|16|21|24|
|Investments||||
|Investments|17|86351|76,269|
|Investment
property|18|2,250|2,250|
|||88,622|78,543|
|CURRENT ASSETS||||
|Debtors|20|294|314|
|Cash at bank||4,107|3,142|
|||4,401|3,456|
|CREDITORS||||
|Amounts
falling due within one year|21|(189)|(237)|
|NET CURRENT ASSETS||~4212|3,219|
|TOTAL ASSETSLESSCURRENT||||
|LIABILITIES||92,$34|81,762|
|CREDITORS||||
|Amounts
falling due after more than one year|22|||
|NET ASSETS||92,$34|81,762|
|FUNDS|29|||
|Unrestricted
funds||92,834|81,762|
|TOTAL FUNDS||92,$34|81,762|
##
||||||2021||2020||
|---|---|---|---|---|---|---|---|---|
||||Notes||8'000||f.'000||
|Cash flows from operating|activities:||||||||
|Cash generated
from operations||||||6,334||11,956|
|Other comprehensive
income (non-cash)||||||(2,551)||2,949|
|Moveinent
in provisions||||||(47$)||(528)|
|Tax paid||||||~555||68|
|Net cash received by operating||activities||||2,750||14,445|
|Cash flows from investing|activities:||||||||
|Purchase ofintangible
fixed|assets|||||(371)||(1,066)|
|Purchase oftangible fixed assets||||||(227)||(183)|
|Purchase offixed asset investments||||||(21)||(24)|
|Purchase ofinvestment
property||||||(3,238)||(3,983)|
|Acquisition ofjoint venture|||||||||
|Saleoftangible fixed assets||||||66|||
|Saleofinvestment
property||||||||470|
|Saleofinvestment
in associate||||||||1,439|
|Repayment ofloans||||||407||4,265|
|New loans||||||(1,480)||(1,161)|
|Interest received||||||||3|
|Dividends
received||||||41||192|
|Net cash used in investing|activities|||||4 $23||~48)|
|Cash flows from financing|activities:||||||||
|New loans in year||||||||2,500|
|Loan repayments
in year||||||(2,095)||(9,144)|
|Decrease in directors loan||||||~190||(380)|
|Net cash used in financing|activities|||||(2,285)||(7,024)|
|Change in cash and cash equivalents|||in the||||||
|reporting
period||||||(4,358)||(7,373)|
|Cash and cash equivalents|at the beginning|||of|||||
|the reporting
period||||||27,628||20,255|
|Cash and cash equivalents|at the end||ofthe||||||
|reporting
period||||||2~3270||27,628|
##
##
|||||||2021|2020|
|---|---|---|---|---|---|---|---|
|||||||8'000|8'000|
||Net income for the reporting||period (as per the statement||offinancial|11,072|3,733|
||activities)|||||||
||Adjustments
for:|||||||
||Depreciation
charges|||||437|379|
||Gain on investments|||||(320)|(1,666)|
||Loss on disposal offixed|assets|||||96|
||Interest received||||||(3)|
||Dividends
received|||||(41)|(42)|
||Revaluation
ofinvestment|properties||||(4,972)|(340)|
||Operating
profit ofjoint ventures|||&associates||(1,550)|(2,142)|
||Taxation|||||3,011|556|
||(Increase)/decrease
in stocks|||||(601)|1,069|
||(Increase)/decrease
in debtors
Increase/(decrease)
in creditors|||||(3,150)
~2448|14,255
~3939|
||Net cash provided
by operating|||activities||~6334|11,956|
|2.|ANALYSIS OFCASH|AND CASH EQUIVALENTS||||||
|||||||2021|2020|
|||||||f.'000|f.'000|
||Cash &cash equivalents|||||23,270|27,628|
||Total cash and cash equivalents|||||23,270|27,628|
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|-Freehold buildings|4%on cost||
|---|---|---|
|-Leasehold
land and buildings|4%on cost||
|-Plant, machinery
and scaffolding|15%on reducing|balance|
|-Fixtures and fittings|15%on reducing|balance|
|-Motor vehicles|25%on reducing|balance|
|-Computer
equipment|33%on cost||
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|||||2021|2020|
|---|---|---|---|---|---|
|||||8'000|f'000|
|Group turnover||||163,853|204,611|
|Other operating|income —rental||income|6,105|5,668|
|Other operating|income —CJRS||income|501|755|
|Share ofprofit|in|Joint Ventures||1,548|2,160|
|Share ofprofit|(loss) in Associates|||2|(18)|
|Profit on disposal
Interest receivable||ofinvestment
in associate
and similar income||~4489|1,424
4,567|
|||||176,498|219,167|
##
|4.|INCOME FRO|M CHARITA|BLE ACTIVITIES|||
|---|---|---|---|---|---|
|||||2021|2020|
||||Activity|8'000|I'000|
||Water Park fees|received|Third party fee income paid to Water Park|200|145|
|5.|OTHER INCOME|||||
|||||2021|2020|
|||||8'000|f.'000|
||Local authority|grants|||27|
||CJRS grant income received|||46|147|
|||||46|174|
|6.|INVESTMENT|INCOME||||
|||||2021|2020|
|||||8'000|I'000|
||Other fixed asset investment|||42|42|
||Deposit account|interest|||3|
|||||42|45|
##
##
##
##
|Other trading activi|ties||||
|---|---|---|---|---|
||||2021|2020|
||||X'000|8000|
|Purchases|||22|1|
|COMMERCIAL TRADE OPERATION EXPENDITURE|||||
||||2021|2020|
||||g'000|I'000|
|Cost ofsales|||143,377|187,297|
|Administrative
expenses|||21,979|21,070|
|Interest payable and|similar expenses||2,912|3,171|
|Tax on profit on ordinary||activities|3,011|556|
|Dividend to minority|interest||6|9|
||||171,285|212,103|
##
||||||Grant funding|||
|---|---|---|---|---|---|---|---|
|||||Direct costs|ofactivities|Supportcosts|Totals|
||||||(Seenote 10)|(Seenote 11)||
|||||f.'000|f'000|f,'000|I'000|
|Costs ofoperating||Water|Park|887|||887|
|Governance|costs|||||98|98|
|Grants to other Charitable|||bodies||1,266||1,266|
|||||887|1,266|98|2,251|
##
##
|GRANTS|PAYABLE||||||
|---|---|---|---|---|---|---|
||||||2021|2020|
||||||I'000|f,'000|
|Grants to other Charitable|||bodies||||
||||||1,266|334|
||||||2021|2020|
||||||g'000|8000|
|Grants paid to institutions|||other than Water Park Limited are categorised|into the|||
|following sectors:|||||||
|Health|||||272|30|
|Caters|||||200|43|
|Youth|||||196|33|
|Elderly|||||180|25|
|Child and Family Support|||||154|10|
|Mental Health|||||112||
|Community|Voluntary|Services|||74|90|
|Education|dt Training||||61|86|
|Other|||||17|12|
||||||1,266|334|
##
||||||2021|2020|
|---|---|---|---|---|---|---|
||||||g'000|f'000|
|Recharge|ofadministrative||resources||52|31|
|Auditors'|remuneration||||16|14|
|Accountancy
and||legal fees|||30|28|
|Trustees|&sundry|expenses||||I|
||||||98|74|
|Audit fees across the group|||are disclosed as:||||
||||||2021|2020|
||||||K'000|8000|
|Trust auditor (Fairhurst):|||||||
|Audit of|Trust and Water Park subsidiary||||16|14|
|Hemnead|Limited|auditor:|||||
|Audit of|Henmead|Limited|financial statements||6|6|
|Audit of|financial|statements|ofsubsidiaries ofHenmead|Limited|129|121|
|Taxation|advisory|services|||23|15|
||||||174|156|
##
##
##
##
##
||||2021|2020|
|---|---|---|---|---|
||||f'000|f'000|
|Directors'|reinuneration||14958|1,701|
|Benefits in kind|||2|3|
|Company|contributions|to money purchase pension plans|31|28|
||||1,991|1,732|
|Information|regarding|the highest paid director is as follows:|||
||||2021|2020|
||||f'000|f'000|
|Remuneration|||1,114|863|
|Benefits in kind||||23|
||||1114|886|
|2021|2020|
|---|---|
|f'000|f'000|
|1,201|1,022|
##
##
##
||||2021|2020|
|---|---|---|---|---|
||||No.|No.|
|Direct labour|||321|310|
|Administration|||389|406|
||||925|716|
|The aggregate|payroll costs ofthese|persons were as follows:|||
||||2021|2020|
||||8'000|8000|
|Wages and salaries|||29,911|30,762|
|Social security|costs||3,040|2,562|
|Contributions|to defined contribution|plans|2 925|2,870|
||||25596|36,194|
##
##
|INTANGIBLE ASSETS||
|---|---|
|Group|Software|
||8'000|
|COST||
|At 1 January 2021|1,198|
|Additions|371|
|At 31December 2021|1,569|
|AMORTISATION||
|At 1 January 2021|17|
|Amortisation
charge for year|146|
|At 31December 2021|163|
|NET BOOKVALUE||
|At 31December 2021|1,406|
|At 31December 2020|1,181|
##
||for the Year En|for the Year En|ded 31December 2021|||
|---|---|---|---|---|---|
|16.|TANGIBLE FIXEDASSETS|||||
||||Freehold|Long|Plant and|
||Group||property|leasehold|machinery|
||||5'000|5'000|6'000|
||COST|||||
||At 1 January 2021||3,586|515|2,479|
||Additions||||107|
||Disposals||||~156)|
||At 31December 2021||3,586|515|2,430|
||DEPRECIATION|||||
||At 1 January 2021||303|295|2,067|
||Charge for year||34|24|114|
||Eliminated
on disposal||||(107)|
||At 31December 2021||337|319|2,074|
||NKT BOOK VALUE|||||
||At 31December 2021||3,249|196|356|
||At 31December 2020||3,283|220|412|
||||Fixtures and|Motor||
||||tittings|vehicles|Totals|
||||g'000|g'000|g'000|
||COST|||||
||At 1 January 2021||2,179|300|9,059|
||Additions||32|88|227|
||Transfers to intangible|assets||||
||Disposals||(16)||(172)|
||At 31December 2021||2,195|388|9,114|
||DEPRECIATION|||||
||At 1 January 2021||1,933|259|4,857|
||Charge for year||87|24|283|
||Eliminated
on disposal||||(107)|
||At 31December 2021||2,020|283|5,033|
||NKT BOOK VALUE|||||
||At 31December 2021||175|105|4,081|
||At 31December 2020||246|41|4,202|
##
##
##
##
|The net book value ofl|and and b|uildings
in|tangible fixe|d assets and|inve|stment
prop|erties
comprises:||
|---|---|---|---|---|---|---|---|---|
||||||||2021|2020|
||||||||5'000|8000|
|Freehold|||||||57,072|49,033|
|Long leasehold|||||||32,512|32,382|
|Short leasehold|||||||196|220|
||||||||89,780|81,635|
|Trust|||||||Fixtures and||
|||||||||fittings|
|||||||||8000|
|COST|||||||||
|At 1 January 2021 and|31Deceinber 2021|||||||204|
|DEPRECIATION|||||||||
|At 1 January 2021||||||||180|
|Charge for year||||||||3|
|At 31December 2021||||||||183|
|NET BOOK VALUE|||||||||
|At 31Deceinber 2021||||||||21|
|At 31December 2020||||||||24|
|FIXEDASSETINVESTMENTS|||||||||
|Group||Loans to|Interests||||Cash and||
|||Joint|in Joint|Investment|in|Share|settlements||
|||Ventures|Ventures|associates||portfolio|pending|Total|
|||5'000|5'000|5'000||5'000|5'000|8'000|
|COST OR MARKET|VALUE||||||||
|At 1 January 2021||15,000|(158)||(2)|3,043|99|17,982|
|Additions||1,118||362||1|40|1,521|
|Disposals|||||||(20)|(20)|
|New loans provided|||||||||
|Repayment ofloans||(407)||||||(407)|
|Revaluation||||||327||327|
|Share ofprofit|||13|||||15|
|At 31December 2021||15,711|(145)|362||3,371|119|19,418|
|PROVISIONS|||||||||
|At 1January 2021||(10,340)||||||(10,340)|
|Moveinent
in provision||395||||||395|
|At 31December 2021||(9,945)||||||~9,945)|
|NET BOOK VALUE
AT 31DECEMBER|2021|5,766|~145)|362||~371|119|9473|
|At 31December 2020||4,660|~158)|~2)||3,043|99|7,642|
##
##
|Trust|||||
|---|---|---|---|---|
||||Cash and||
||Share|Unlisted|settlements||
||portfolio|investments|pending|Totals|
||0'000|0'000|0'000|0'000|
|FAIRVALUE|||||
|At 1 January 2021|3,019|73,151|99|76,269|
|Additions|2||41|43|
|Dispoasis|||(22)|(22)|
|Revaluations|320|9,741||10,061|
|At 31December 2021|3 361|82 892|118|86331|
|NET BOOK VALUE|||||
|At 31December 2021|3441||||
|At 31December 2020|3019|73,151|99|76269|
|||Percentage|Country of|Nominal|value|
|---|---|---|---|---|---|
|Company||holding|incorporation|||
|Henmead|Limited|100|England||100|
|Water Park Limited||100|England||1|
##
##
##
##
##
|19.|STOCKS||||||
|---|---|---|---|---|---|---|
||||Group|Group|Trust|Trust|
||||2021|2020|2021|2020|
||||5000|f000|5000|f000|
||Work in progress||25,048|24,447|||
||||25,048|24,447|||
|20.|DEBTORS||||||
||||Group|Group|Trust|Tilts t|
||||2021|2020|2021|2020|
||||8000|f000|8000|f000|
||Amounts falling due|within one year|||||
||Finance lease debtor|receivable|1,746|2,015|||
||Trade debtors||20,515|19,676|||
||Amounts
recoverable|on long term contracts|14,909|13,377|||
||Amounts
due tram subsidiaries||||279|308|
||Corporation
tax||||||
||VAT||||15||
||Prepayments||4,421|4,263|||
||Deferred tax||2,617|2,577|||
||Financial Instruments||165||||
||Other debtors||3.237|1,549|||
||||47,610|43,457|294|314|
||Due after more than|one year|||||
||Finance lease debtor|receivable|35,126|37,205|||
||Trade debtors||1,304||||
||||84,040|80,662|294|314|
##
##
##
|CREDIT|ORS: AMOUNTS FALLING|DUE WITHIN ONE YE|AR|||
|---|---|---|---|---|---|
|||Group|Group|Trust|Trust|
|||2021|2020|2021|2020|
|||f000|f000|f000|f000|
|Bank loans and overdraft||2,351|2,093|||
|Payments|on account|6,689|4,082|||
|Trade creditors||21,230|26,691|||
|Amounts|due to subsidiaries|||72|90|
|Taxation|and social security|4,846|4,308|||
|Other creditors||14,725|11,180|||
|Accruals|and deferred income|8,616|8,181|117|147|
|Director's|loan accounts|5,033|5,224|||
|||63,490|61,759|189|237|
##
||Group|Group|Trust|Trust|
|---|---|---|---|---|
||2021|2020|2021|2020|
||f000|f000|f000|fOOO|
|Bank loans|54,557|56,909|||
|Deferred Income|5@37|4,574|||
|Financial instruments|7@62|10,910|||
||67,256|72,393|||
##
||||2021|2020|
|---|---|---|---|---|
||||f.'000|f'000|
|Loans and overdrafts|can be analysed|as falling due:|||
|In one year or less|||2,351|2,093|
|Between one and two|years||17,107|17,351|
|Between two and five years|||17,953|18,608|
|In five years or more|||19 499|20,950|
||||56,908|59,002|
|Secured creditors can|be analysed as|follows:|||
||||2021|2020|
||||f'000|f'000|
|Creditors falling due in less than one||year|||
|Secured bank loans and overdraft|||2 51|2,093|
##
##
|Group||Currency|Nomiasl interest|Year of|Repayment|||2021|2020|
|---|---|---|---|---|---|---|---|---|---|
|||||maturity|schedule|||5000|f000|
|Term loan|1|5GBP|Libor+ 2.7%|2024|Amortising|||13,200|13,600|
|Revolving|||||Revolving|Credit||||
|Credit Facility||6GBP|Libor+ 2%|2025|Facility|||15,000|15,000|
|Debenture|loans|6GBP|Libor + 2%||Subordinated||debt|67|67|
|Term loan|2|fGBP|Libor+ 1%|2024|Amortising|||1&979|2,585|
|Term loan|3|6GBP|Libor+ 0.97%|2030|Amorlising|||4,907|5,350|
|Term loan|4|fGBP|Libor +2.1%|2037|Amortising|||21,755|22,400|
|||||||||56,908|59,002|
##
|||||||||||||Group|Group|Trust|Tillst|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||||2021|2020|2021|2020|
|||||||||||||f000|f000|f000|f000|
||Amounts||fafiing due|||after more||than one||year||||||
||Other|financial||liabilities|||designated||as fair|value||||||
||through
other comprehensive
income|||||||||||7,362|10,910|||
|||||||||||||7,362|10,910|||
|||||||||||||Group|Group|Company|Company|
|||||||||||||2021|2020|2021|2020|
||Assets|||||||||||f000|f000|f000|f000|
||Amounts
recoverable|||||after more||than one year||||||||
||Other|financial||assets||designated||as|fair value||through|||||
||other comprehensive||||income|||||||165||165||
|||||||||||||165||165||
|25.|FINANCIAL INSTRUMENTS|||||||||||||||
||(a) Carrying
amount|||||of|financial|instruments||||||||
||The carrying||amounts||ofthe financial||||assets and||liabilities|include:||||
|||||||||||Notional||||Fair value|Fair value|
|||||||||||amount
f'000||Maturity
year|Fixed rate
'/o|2021
f'000|2020
f'000|
||Liabilities measured||||at amortised|||cost||||||||
||Interest|rate|swap|1|||||||1,986|2024|5.865|(168)|(343)|
||Interest|rate|swap|2|||||||4,865|2030|5.400|(979)|(1,498)|
||Interest|rate|swap|3|||||||21,754|2037|4.400|(6,215)|(8,980)|
||Interest|rate|swap|4|||||||9,000|2024|0.545||(179)|
|||||||||||||||~3362|~39,919|
|||||||||||||||Fair value asset||
|||||||||||Notional|||Fixed|||
|||||||||||amount||Maturity|Rate|2021|2020|
||||||||||||f000|Year||f000|f000|
||Assets|measured||at amortised cost||||||||||||
||Interest|rate|swap|4|||||||9,000|2024|0.545|165||
##
##
##
##
|expected|to occur a|s require|d by FRS 1|02.29(a)f|or the cash|flow hedg|e accounting|mode|ls:|||
|---|---|---|---|---|---|---|---|---|---|---|---|
||||202t||||||2020|||
|Carrying
Amount
fuss|Expected
ceeh
flewe
OOOO|lycee
or less
5OOO|Its
&2yeere
fOOO|2te
&Syeeee
fOOO|5years
esd
over
8000|Carrying
amount
f000|Expected
cash
flows
f000|I year
or less
f000|I ic
&2yeerx
8000|2tc
&Syeere
f000|5yeeix
eiid
cvlx
f000|
|37,605|15,714|1,907|1,775|4,453|7,579|39,301|17,739|2,025|1,907|4,875|8,932|
|37,605|15,714|1,907|1,775|4,453|7,579|39,301|17,739|2,025|1,907|4,875|8,932|
##
##
|Deferred tax assets|and liabilities
are at|tributable
to|the following:||||
|---|---|---|---|---|---|---|
||||Group|Group|Trust|Tmst|
|Held in provisions|for liabilities and charges||2021
f000|2020
f000|2021
f000|2020
f000|
|At I January|||3,786|3,262|||
|Profit and loss account charge|||2,482|576|||
|Ainount recognised|in other comprehensive|income|139|(52)|||
|At 31 December|||6,407|3,786|||
##
##
|Held in debtors||||2021|2020|2021|2020|
|---|---|---|---|---|---|---|---|
|||||8000|OOOO|8000|6000|
|At 1 January||||(2,577)|(2,064)|||
|Pmfit sod loss accounts charge/(credit)||||18|(99)|||
|Amount recognised
in other compmheusive|||income|(58)|(414)|||
|At 31 December||||(2,617)|(2,577)|||
|||||Group|Group|Tl'Ust|Trust|
|Deferred rax liability||||2021|2020|2021|2020|
|||||f000|OOOO|5000|8000|
|Accelerated
capital allowances||||3&489|2,576|||
|Other timing differences||||105|(52)|||
|Short term timing differences|financial|instruments||(299)|350|||
|Other short term timing differences||||3,112|1,612|||
|||||6,407|3,786|||
|Deferred lax asset||||2021|2020|2021|2020|
|||||8000|OOOO|5000|F000|
|Accelerated
capital allowances||||35|30|||
|Other timing difFerences||||129|59|||
|Short term timing differences|relating|to pension||||||
|provision||||899|799|||
|Short tenn timing difference|-financial|||||||
|instnuneuts||||1&554|1,689|||
|||||2,617|2,577|||
##
|pension scheme|liability is|recognised
in full in the balance sheet and detailed below.|recognised
in full in the balance sheet and detailed below.||
|---|---|---|---|---|
|The information|disclosed|below is in respect ofthe whole ofthe plan and for which Henmead||Limited is legally|
|responsible.|||||
||||2021|2020|
||||8'000|f000|
|Defined benefit|obligation||3,594|4,104|
|Plan assets|||||
|Net pension liability|||~3594|4,104|
||||2021|2020|
|Movements
in|resent value ofdefined benefit obli ation||8'000|X,'000|
|At 1 January|||4,104|3,993|
|Interest expense|||82|40|
|Remeasurement:
Benefits paid|actuarial|(gains)/losses|(296)
~296|367
(296)|
|Net pension liability|||~3594|4,104|
##
##
|||||||2021|2020|
|---|---|---|---|---|---|---|---|
|E
ense reco nised in the SOFA||||||8'000|f'000|
|Net interest on net defined benefit liability||||||82|40|
|Total expense recognised|in the SOFA|||||82|40|
|Principal
actuarial
assumptions||(expressed as weighted||averages) at the year-end were||as follows:||
|||||||2021|2020|
|||||||%%||
|Discount mte||||||2.00|1.00|
|The last full actuarial valuation||was performed on 31December 2021.The amount forthe current and|||||four previou|
|periods are as follows:||||||||
||||2021|2020|2019|2018|2017|
||||f000's|f000's|f.000's|8000's|f000's|
|Present value ofscheme|liabilities||(3,594)|(4,104)|(3,993)|(3,902)|(3,999)|
|Experience adjustments|on scheme|||||||
|liabilities|||(296)|(367)|(319)|(97)|(34)|
|The assu|mptions
are e|quivalent
to expending
a75 year ol|d to live for a number ofyears as follows:||
|---|---|---|---|---|
||||2021|2020|
||||Years|Years|
|Female|||14|14|
|Male|||12|12|
|Defined|contribution|plans|||
##
##
##
|MOVEMENT|IN FUNDS||||||
|---|---|---|---|---|---|---|
||||||Net movement||
|||||At 1/1/21|in funds|At 31/12/21|
|||||6'000|f.'000|8000|
|Unrestricted|funds||||||
|General fund||||79,480|11,075|90,555|
|Designated
fund||||2,268||2,268|
|Designated
(Stoves)
Wright Lodge fit out costs||||2
12|~(3|2
9|
|||||81,762|11,072|92,834|
|TOTAL FUNDS||||81,762|11,072|92,834|
|Net movement|in funds, included||in the above are as follows:||||
||||Incoming|Resources|Gains and|Movement
in|
||||resources|expended|losses|funds|
||||6'000|E000|f'000|g'000|
|Unrestricted|funds||||||
|General fund|||176,787|(173,555)|7,843|11,075|
|Wright Lodge|fn out costs|||(3)||(3)|
||||176,787|(173,558)|7,843|11,072|
|TOTAL FUNDS|||176,787|(173,558)|7,843|11,072|
|Comparatives|for movement|in|funds||||
||||||Net movement||
|||||At 1/I/20|infunds|At 31/12/20|
|||||f,'000|I'000|f.'000|
|Unrestricted|Funds||||||
|General fund||||75,746|3,734|79,480|
|Designated
fund||||2,268||2,268|
|Designated
(Stoves)||||2||2|
|Wright Lodge|fit out costs|||13||12|
|||||78,029|3,733|81,762|
|TOTAL FUNDS||||78,029|3,733|81,762|
##
##
##
|||Incoming|Resources|Gains and|Movement
in|
|---|---|---|---|---|---|
|||resources|expended|losses|funds|
|||f.'000|f'000|f'000|f'000|
|Unrestricted|funds|||||
|General fund||219,531|(213,430)|(2,367)|3,734|
|Wright Lodge|fit out costs||(1)||(1)|
|||219,531|(213,431)|(2,367)|3,733|
|TOTAL FUNDS||219,531|~213,431)|~2,367)|3733|
##
|on-cancellable
operating
lease rentals a|re payable as follows:||||
|---|---|---|---|---|
||Group|Group|Trust|Tfllst|
||2021|2020|2021|2020|
||f000|f000|f000|fOOO|
|Less than one year|1,275|1,107|||
|Between one sud five years|2,617|2,465|||
|More than five years|19,595|22,526|||
||23,487|26,098|||
##
##
##
|ayments
receivable
under non-cancellabl|e
leases are as follows:||||
|---|---|---|---|---|
||Group|Group|Trust|Trust|
||2021|2020|2021|2020|
||f000|fOOO|f000|fOOO|
|Less than one year|5,571|5,442|||
|Between one aud five years|15,022|16,645|||
|More than five years|54,025|45,159|||
||74&618|67,246|||
##
##
|eceivab|le at|the e|nd of|the reporting pe|riod are as follo|ws:||||
|---|---|---|---|---|---|---|---|---|---|
|||||Minimum|||Minimum|||
|||||lease|||lease|||
|||||receivable|Interest|Principal|receivable|Interest|Principal|
|||||2021|2021|2021|2020|2020|2020|
|||||f000|f000|5000|fOOO|f000|6OOO|
|Within|one year|||4,630|2,884|1,746|5,016|3,001|2,015|
|Greater|than|one|year|||||||
|and less than||two years||4,769|2&737|2,032|4,656|2,857|1,799|
|Greater|than|two|years|||||||
|and less than||five years||14,909|7,080|7&829|14,768|7,585|7,183|
|Greater|than|five years||36485|11,120|25465|41,280|13,057|28,223|
|||||60,693|23&821|36,872|65,720|26,500|39,220|
##
##
##
##
##
|RELATED PARTY DISCL
R~ld|RELATED PARTY DISCL
R~ld|OSURE|S|||
|---|---|---|---|---|---|
|The following
is the identity||ofrelated|parties ofthe Group.|||
|Company/entity|||Portion ofordinary|shares beld||
|Subsidiary
undertakings||||||
|Henmead Liraited"||||100%||
|Eric Wright Gmup Limited||||100%||
|Eric Wright Construction
Limited||||100%||
|Eric Wright Partnerships|Limited (formerly Eric|||100%||
|Wright Health and Care Limited)||||||
|Eric Wright Civil Engineering||Limited||100%||
|Maple Grove Developments||Limited||100%||
|Eric Wright Investments
Limited||||10P'/|Dormant|
|Maple Grove Investments|Limited|||100%||
|Stonecross Enterprises
Limited||||100%||
|Elltech Limited||||95%||
|Sceptre Nursery
Limited||||100%||
|Eric Wright Commercial|Limited|||100%|Dormant|
|Skemtech Limited||||95%||
|Fleetwood PPP Limited||||100%||
|Cobco 494 Limited||||100%||
|Cobco 450 Limited||||100%||
|Eric Wright FM Lunited||||100%||
|Eric Wright Homes Limited||||100%||
|Maple Grove Residential|Limited|||100%||
|Applethwaite
Limited||||100%||
|Eric Wright Developments||||100%||
|Eric Wright Water Limited||||1PP%||
|EWGN Blackpool PSPLimited||||8P%|Dormant|
|Blackpool LEP Limited||||64%||
|Highfield PFIHoldco Linuted||||72%|Dounant|
|Highfield PFI SPVLimited||||72%||
|Samlesbury
Developments|Limited|||100%|Dormant|
|Joint ventures||||||
|Foundation
for Life Limited||||60%||
|Leigh Holdco Limited||||60%|Dormant|
|Leigh Fundco Limited||||60%||
|Pacific Shelf 888 Limited||||60%||
|Pemberton
Care Limited||||60%||
|Pinco 2033 Limited||||60%||
|Pinco 2206 Limited||||60%||
|Pimco 2401 Liiuited||||60%||
|FFLCapital Projects Limited||||60%|Dormant|
|East Lancashire Building|Partnership||Limited|60%||
|Blackburn Holdco Limited||||60%|Dormant|
|Blackburn Fundco Limited||||60%||
|Rossendale LIFT Limited||||60%||
|Pinco 2223 Limited||||60%||
|Pimco 2297 Linuted||||60%||
|Inhoco 2952 Limited||||60%||
|Pimco 2451 Limited||||60%||
|East Lancashire
Capital Projects Limited||||60%||
|Brahm LIFT Linuted||||60%||
##
##
|RELATED PARTY DISCL|OSURES —|continued||||
|---|---|---|---|---|---|
|Company/entity|||Portion ofordinary|shares held||
|Subsidiary
undertakings||||||
|Brahm Intermediate
Holdco|1 Limited|||60%|Dormant|
|Brahm Fundco
1 Limited||||60%||
|Brahm Intermediate
Holdco|2 Limited|||60%|Dormant|
|Brahm Fundco 2 Limited||||60%||
|Bolton Holden
1 Liinited||||60%|Dormant|
|Bolton Fundco
1 Limited||||60%||
|Brahm Capital Projects Limited||||60%|Dormant|
|Booths Partnership
Limited||||50%||
|Regional
and Local Education Partnership||Limited||26%|Dormant|
|Tri link 140Holdings
I LLP||||50%||
|Tri Link 140Holdings
2 LLP||||50%||
|Winsford Holdings
1LLP||||50%||
|Winsford Holdings 2LLP||||50%||
|Holbeck Homes (Cartmel) Limited||||50%||
|Glenholme
Wrightcare
Limited||||50%||
|Glenholme
Senior Living (Bispham Gardens)||||||
|Limited||||50%||
|Associates||||||
|Deeside Regeneration
Limited||||24.9%||
##
##
|Henmead|Goods and services|Goods and services|Balance outstanding|
|---|---|---|---|
|shareholding|supplied||at the end ofthe year|
||2021|2020|2021
2020|
||8000's|fpptys|8000's
OOOO's|
|During
the year subsidiaries|of Henmead|of Henmead|Limited|Limited|supplied|supplied|construction|construction|services to the following|services to the following|companies|companies|in|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|which the Group has an interest. These services||||were||provided||by Eric Wright Construction||Limited.||||
|Blackpool Local Education|Partnership|Limited||||64%||1,090|2,994|149||||
|During the year subsidiaries|ofHenmead||Limited||supplied||hard|FM services to the following||companies||in which||
|Eric Wright Group Limited|has an interest. These||||services||were|provided|by Eric Wright FM Limited.|||||
|Blackpool Local Educagon|Partnership|Limited||||64%|||94|||||
|Blackbum Fundco Limited||||||60%||422|276|||||
|Bolton Fundco
1 Limited||||||60%||340|321|||||
|Brahm Fundco
1 Limited||||||p||667|654|||||
|Brahm Fundco 2 Liinited||||||60%||528|483|||||
|Highfield PFI SPV Limited||||||72%||512|403|||||
|Inhoco 2952 Limited||||||6P%||911|911|||||
|Leigh Fundco Limited||||||60%||273|269|||||
|Pacific Shelf 888Limited||||||60%||36|35|15||||
|Pemberton
Care Limited||||||60%||111|110|22||||
|Pimco 2297 Limited||||||60%||80|98|||||
|Pimco 2401 Limited||||||60%||148|145|||||
|||||Page||48||||||||
##
##
##
|Related
art
transactions||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
||||Henmead||Goods|and services|||Balance outstanding|||
||||shareholdlng|||supplied|||at the end ofthe year|||
||||||2021||2020||2021|2020||
||||||8000's||f000's||8000's|$000's||
|Pimco 2451 Limited||||60%||479|404|||||
|Pinco 2033 Limited||||60%||483|474|||||
|Pinco 2206 Limited||||6Q%||289|286|||||
|Pinco 2223 Limited||||6Q%||634|555|||||
|Rossendale Lift Limited||||60%||411|404|||||
|During the year subsidiaries|ofHenmead||Limited|provided|management||services|to the following||companies|in|
|which Eric Wright
Group|Limited has||an interest.|These|services|were|provided|by|Eric Wright|Partnerships||
|Limited.||||||||||||
|Blackbum Fundco Limited||||60%||20||20||||
|Blackpool Local Education|Partnership|||64%||||26||||
|Limited||||||||||||
|Bolton Fundco
1 Limited||||60%||118||72||||
|Brahm Fundco
1 Limited||||60%||195||125||||
|Brahm Fundco 2 Limited||||60%||162||97||||
|Brahm Lift Limited||||60%||111||94||||
|lnhoco 2952 Limited||||60%||290||132||||
|Leigh Fundco Limited||||6Q%||50||49||||
|Pacific Shelf Limited||||6Q%||9||9||||
|Pemberton
Care Limited||||60%||31||30||||
|Pimco 2297Limited||||60%||10||9||||
|Pimco 2401 Limited||||60%||72||46||||
|Pimco 2451 Limited||||60%||85||78||||
|Pinco 2033 Limited||||60%||224||108||||
|Pince 2206 Limited||||60%||115||88||||
|Pinco 2223 Limited||||60%||86||81||||
|Rossendale
Lift Limited||||60%||28||25||||
|East Lancashire
Building Partnership||Limited||60%||77||15||||
|Foundation
for Life Limited||||60%||90||28||||
|Glenhome
Wrightcare
Ltd||||50%||16||79||||
##