**Registered number: 2769300 Charity number: 1015652**
## **THE PADLEY GROUP**
**(A company limited by guarantee)**
**Trustees' report and financial statements**
**For the year ended 31 March 2022**
## **THE PADLEY GROUP**
## **(A company limited by guarantee)**
## **Contents**
||Page|
|---|---|
|**Reference and administrative details of the Charity, its Trustees and advisers**|1|
|**Trustees' report**|2 - 6|
|**Independent auditors' report on the financial statements**|7 - 9|
|**Consolidated statement of financial activities**|10|
|**Consolidated balance sheet**|11|
|**Charity balance sheet**|12|
|**Consolidated statement of cash flows**|13|
|**Notes to the financial statements**|14 - 29|
## **THE PADLEY GROUP**
## **(A company limited by guarantee)**
## **Reference and administrative details of the Charity, its Trustees and advisers For the year ended 31 March 2022**
## **Trustees**
A Shaw, Chair
M Connell, Vice Chair
A Layzell, Secretary
P Inman, Treasurer
G Bennett, Vice Chair (resigned 18 May 2022)
A Tudor (appointed 14 July 2021)
B Samra E Thomson (resigned 12 May 2021)
J Gratton (resigned 9 October 2021)
R Gourlay (appointed 18 May 2022) T Harrison (resigned 30 November 2021) V Miller (resigned 9 November 2021)
## **Company registered number**
2769300
## **Charity registered number**
1015652
## **Registered office**
27 East Street Derby Derbyshire DE1 2AL
## **Company secretary**
A Layzell
## **Business Manager**
D Litchfield
## **Independent auditors**
Bates Weston Audit Ltd Statutory Auditors Chartered Accountants The Mills Canal Street Derby DE12RJ
## **Bankers**
Lloyds TSB plc 43 Irongate Derby DE1 3FT
Page 1
## **THE PADLEY GROUP (A company limited by guarantee)**
## **Trustees' report For the year ended 31 March 2022**
## **OUR AIMS AND OBJECTIVES**
The Padley Group, a registered charity, was founded in 1985 to provide relief of homelessness and related poverty.
- To provide or assist in the provision of facilities for persons who are homeless, destitute and distressed which are necessary to relieve such persons who by reason of their condition are in necessitous circumstances.
- To provide residential accommodation, including social housing, for people of all ages, who are in need, hardship or distress by reason of their social, physical, emotional, spiritual or economic circumstances.
- To help such persons in such circumstances to regain a sense of personal worth through the provision of support, training and encouragement.
- To provide opportunities for care to be expressed to those who often experience rejection.
- To meet basic needs of such persons who have next-to-nothing in order to enhance the quality of their lives.
- To provide the opportunity for such persons to share in a caring community in order to help break down feelings of isolation. The Company shall be non-party in politics and non-sectarian in religion.
A twelve room all-male Hostel above the Day Centre was provided until 5 March 2021 at which time, following consultations with City partners including discussions regarding the redevelopment of Becket Street, and informed by the recognition of a challenging safeguarding environment, Trustees made a decision to permanently close the Hostel. This provision is being replaced, in conjunction with Derby Homes, by 18 selfcontained dispersed housing units, a transition which will be completed during 2022. This provision will offer support and assistance to residents whilst developing their skills to enable them to move on to their own permanent accommodation. Other than the benefits to the resident of personal esteem, having a front door key and personal address- hugely important when seeking employment- this new accommodation provision enables Padley to provide direct housing support to females as well as males.
The charity (The Padley Group) and its trading subsidiary (Padley Trading) also provide opportunities for work placements.
## **Public Benefit**
Padley’s charitable objects as stipulated in the Memorandum and Articles of Association are shown above. During 2021/22, the public benefit achieved in meeting these objectives were through:
- The provision of self-contained accommodation to those who are homeless, giving them support, referrals, signposting and assistance to move on in their lives and move into shared or their own permanent accommodation.
- The provision at the Day Centre of facilities, including toilets, shower, laundry facilities, food, clothing, hairdressing, a chiropodist, an optician, access to specialist support services and professionals which tend to the basic needs of those who are not in permanent accommodation.
- The provision at the Day Centre of activities to increase wellbeing, self-confidence, increase skills, and education alongside support, signposting and encouragement to help those affected by homelessness, or poverty regain or achieve for the first time a sense of personal worth.
- The provision of facilities and services which offer opportunities for people who are homeless or in danger of becoming homeless and others in need to interact with others and to share in a caring community, consequently breaking down feelings of isolation and distress.
- The provision of learning opportunities and training through activities, work experience and volunteering routes within the different operations.
All of the facilities we offer are to improve the quality of life and well-being of those who are disadvantaged in our society. We are ecumenical, non-party political and non-sectarian in religion in all of our operations.
The Trustees have taken into account the Charity Commission guidance on Public Benefit in accordance with section 4 of the Charities Act 2006.
Page 2
## **THE PADLEY GROUP (A company limited by guarantee)**
## **Trustees' report (continued) For the year ended 31 March 2022**
## **ACHIEVEMENTS AND PERFORMANCE**
2021/22 was very much a year of transition. Two external factors impacted upon the charity’s activities.
1. The prolonged consequences of the COVID-19 pandemic.
- The on-going restrictions on social distancing and lack of confidence within the public at large, severely limited the capacity to raise funds through events. Traditionally, valuable income (as well as important public relations and profile raising) has been raised through summer fetes, coffee mornings etc as well as Padley sponsored events, for example the Ladies’ Lunch, Bollywood Ball, the great majority of which had to be cancelled.
- The success of the government-led initiative ‘Everyone In’ has led to a significant reduction of rough sleeping, though not a reduction in those living in temporary accommodation without a permanent home and consequently those at risk of being homeless.
2. The requirement by Derby City Council that Padley relocate from its long-held premises in Beckett St in order to fulfil a major redevelopment project.
As a consequence:
- The overall loss against both income and budget was significant. The charity had been singularly successful in achieving grant funds during the first few months of the pandemic which compensated for the operational losses during 2021/22 such that the end of year balance sheet of the charity was broadly similar to that preCovid. Following the sale of assets in Beckett St for £250k, the cash reserves were greater, these funds being placed in a restricted reserve for longer term facility investment, the capital assets owned by the charity were similarly reduced.
- Much Trustee and senior management energy was engaged in negotiating terms for the disposal of the Becket St assets and for the transfer of the Day Centre to leased, re-furbished premises in Liversage St, Derby. This transfer was successfully completed in February 2022.
However, despite these challenges, the charity maintained its work for public benefit. During 2021/22, 966 visits were made to our day centre sessions from those seeking support. Over 2220 hot meals were provided for people attending our sessions and for others out in the community who do not have access to cooking facilities. The charity provided 1310 emergency food parcels, 239 clothing parcels and 387 toiletry parcels. Padley also shared 126 industrial trays of food with other food banks across Derby and Derbyshire when they had shortages of specific products. Staff are to be congratulated on their professional and flexible response to the ongoing pandemic and re-location challenges. Services were maintained to the maximum possible and our charitable objectives fulfilled at a time when circumstances were changing on an almost daily basis.
Following the closure of the Hostel during March 2021, all aspects of the Group’s services were reviewed in order to secure the safest possible environment for both service users and staff. An action plan was put in place which led to the revision of relevant policies and procedures alongside a comprehensive staff training programme.
The annual Harvest campaign is crucial in maintaining and expanding the Padley food offer. In 2021 it was again challenging as produce needed to be collected in a way that ensured those who donated felt safe and were kept safe. Many churches were just starting to reopen for community worship and schools were educating in a mixed model of in-school and home education. Consequently, we received fewer donations of food from Harvest celebrations than pre-Covid, but did collect more than the previous year. During Harvest 2021, 129 organisations contributed, including Churches, schools, a scout group and a Health Club. One Nursery School provided 12 Food hampers. Overall, we received around three quarters of our normal pre-pandemic levels. We also received almost £300 in cash donations. Our food supply costs were kept low thereby enabling the continuing production of high-quality nutritious meals for a fraction of what would be charged elsewhere. The Harvest operation was supported by two temporary staff providing valuable work experience and qualifications to beneficiaries who had recently been homeless and who had been supported to be ready for work. Our food operation during the Covid period was also supported by regular donations of fresh produce from individuals and local companies, including Morrisons, Griffith, Sainsbury’s (Chaddesden), St Peter’s Church (Edensor) and through our partnerships with Food4Thought Alliance, Rolls Royce and Fairshare.
Page 3
**THE PADLEY GROUP**
## **(A company limited by guarantee)**
## **Trustees' report (continued) For the year ended 31 March 2022**
## **PLANS FOR FUTURE PERIODS**
Working with St James’ Securities of Leeds, the Derby City Council announced in July 2020 that the Becketwell Development in Victoria Street, Derby, was to acquire property and land in Becket Street in order to provide access to an Arena. This has involved the demolition of Padley House, our Centre for Homeless People, and the re-purposing of the adjoining warehouse. A grant agreement with the City Council will enable the charity to find suitable alternative accommodation, at no additional cost and with at least equivalent facilities. The day centre is currently in temporary premises leased from the City Council. The charity has undertaken a root and branch review of its services and partnership arrangements and is considering the nature of accommodation requirements to fulfil this work. Once this has been completed permanent premises will be sought. The Warehouse was not required for re-development until some months into the 22/23 year and was used for normal operations during 21/22.
In accordance with our values, the charity is seeking to work ever more closely with other agencies, both statutory and voluntary, who share the same objectives. Partnership working with Derby Homes and the Food4Thought Alliance are very much part of future strategies. We recognise that only by working together can some of the major challenges surrounding people who are homeless and those in danger of being homeless be effectively addressed.
## **FINANCIAL REVIEW**
The financial result for the year is detailed in the following Financial Statements. Padley continues to adapt to a changing environment, but inevitably, funding remains a constant challenge.
## **Principal sources of funding**
Total income at £590,723 showed a significant decrease over the previous year. This was a result firstly, of a reduction in voluntary and fundraising income during the year and secondly, the exceptionally high COVID-19 related grant funding achieved by the charity in the previous year.
Fifty-five percent of income came from voluntary income and fundraising activity. Almost 25% came from Housing Benefit to support the new self-contained accommodation and a further 10% from shop sales. Grants and legacies made up the remainder.
## **Resources expended**
Careful management led to a reduction in operational expenditure of some 18%. The overdraft facility did not need to be utilised during the year.
## **Reserves policy**
The unrestricted undesignated reserves at 31 March 2022 were £158,875, this represents around 4 months operating costs. The reserves policy is to have six months operating costs and we continue to work towards that objective over time.
During January 2022 Trustees determined to place the £250,000 from the sale of the Becket St assets within a designated reserve to cover the costs of accommodation to replace those lost during the enforced re-location. This capital, plus the agreed grant from Derby City Council will enable suitable alternative facilities to be provided.
## **Investments powers, policy and performance**
The Trustees' investment powers are governed by the Memorandum and Articles of Association, which permits the charity's funds to be invested in such investments, securities or property as thought fit.
## **Fixed Assets**
Details of movements in Fixed Assets are shown in Note 10 of the Accounts.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document**
The organisation is a charitable company limited by guarantee, governed by its Memorandum and Articles of Association as amended on 17 June 1996. It is registered as a charity with the Charity Commission.
Page 4
## **THE PADLEY GROUP (A company limited by guarantee)**
## **Trustees' report (continued) For the year ended 31 March 2022**
## **Induction and training of Trustees**
Padley advertises as necessary to recruit new Trustees, seeking to maintain a balance of skill-sets within the Board. The organisation normally operates with 8 to 12 Trustees, all being subject to re-election by rotation at the Annual General Meeting. When a new Trustee is appointed they receive an appropriate induction from the Chair and are supported effectively by existing Trustees.
## **Organisational structure**
The Board of Trustees now administers the charity through bi-monthly meetings and three committees: Operations, Performance and People; Finance; and Fund-raising, Marketing and Communication.
The Charity's wholly owned subsidiary, Padley Trading Limited, was established in 1991 to operate one or more retail shops including a textile recycling project. The subsidiary gift-aids any operating surplus to the charity.
## **Principal risks and uncertainties**
The Trustees examine the major risks that the charity faces when preparing the annual budget and business plan and when updating the strategic plan. Systems have developed to monitor and control these risks and mitigate any impact that they may have on the charity in the future. There are three particular categories of risk: the first relates to voluntary and trading income, which by their nature can fluctuate. The Charity is now entirely reliant on funds directly raised through provision of services and fundraising activities without the ‘safety net’ of public funding. The Board and Finance Committee received regular budgetary control and cash flow reports to ensure financial risks are monitored. The second is concerned with Health and Safety, including Safeguarding, which is particularly important in view of the different categories of client Padley seeks to help. Regular reviews of operating policies and procedures are carried out to ensure mitigation of operational risks and regular risk assessment of properties and equipment are carried out to minimise health and safety risks. Finally, Trustees are concerned with minimising reputational risk. For many reasons, including those relating to fundraising and partnership working, the positive local and national reputation of Padley and its work is essential in enabling it to fulfil its aims and objectives.
## **TRUSTEES’ APPRECIATION**
The Board would like to publicly acknowledge their appreciation of the Padley staff and volunteers without whom our achievements would not have been possible. Staff and volunteers continue to go beyond ‘the call of duty’ to support our many clients which has enabled the service to function effectively. This has been particularly the case during 2021/22 when the challenges of Covid-19 have been immense.
The year was indeed very difficult for our Events and Fundraising programme. As a result of Covid restrictions, our shop remained closed for much of the year, events were cancelled and the lockdowns prevented many of our supporters from undertaking their traditional fundraising activities. Many local businesses and individuals helped us get through this most challenging of years including: Griffith Foods; Institute of our Lady of Mercy; Countess of Meath Hill Trust; Lloyds Band Foundation; Homeless Link; Muggington PCC; Central United Reform Church; NFU Mutual; Dignity Crematorium; the Loughborough Building Society; M&S Gregory and Mr and Mrs Cresswell.
We would also like to acknowledge with gratitude the on-going support we receive from the Churches in Derby and Derbyshire who continue to support so strongly the organisation that they founded.
We are also grateful to the schools in Derby and Derbyshire and the many businesses, organisations and individuals that are established contributors to the running of the services we deliver through funding, donations and volunteering their time. We are also grateful for the support of Derby City Council and Public Health who continue to work with us to offer services to the most vulnerable in our society. Our thanks must also go to the NHS both nationally and locally and the Police and many other statutory bodies with whom we seek to work on a daily basis to rebuild shattered lives.
Finally, we would like to acknowledge specifically the Rotary Clubs across Derbyshire, the Lions, members of Women’s Institutes, businesses, organisations and groups of all kinds who responded to the Padley4000 Campaign when it was launched and have continued to support it. We will always be enormously grateful for your wonderful, generous and caring response to our need for help.
Page 5
**THE PADLEY GROUP (A company limited by guarantee)**
## **Trustees' report (continued) For the year ended 31 March 2022**
Without such support the work of Padley would not take place. Thank you all!
## **TRUSTEES’ RESPONSIBILITIES**
The Trustees (who are also the directors of The Padley Group for the purposes of company law) are responsible for preparing the Trustees’ report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and the group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently
- observe the methods and principles in the Charities SORP
- make judgments and accounting estimates that are reasonable and prudent
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable group will continue in operation,
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company and the group's transactions and disclose with reasonable accuracy at any time the financial position of the charitable group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Each of the persons who are Trustees at the time when this Trustees report is approved has confirmed that:
- so far as that the Trustee is aware, there is no relevant audit information of which the charitable group's auditors are unaware
- Trustees have taken all the steps that ought to have been taken in order to be aware of any relevant audit information and to establish that the charitable group's auditors are aware of that information.
Approved by order of the members of the board of Trustees and signed on their behalf by:
## **A Shaw**
Date: 16 November 2022
Page 6
**THE PADLEY GROUP**
## **(A company limited by guarantee)**
## **Independent auditors' report to the Members of The Padley Group**
## **Opinion**
We have audited the financial statements of The Padley Group (the 'parent charitable company') and its subsidiaries (the 'group') for the year ended 31 March 2022 which comprise the Consolidated statement of financial activities, the Consolidated balance sheet, the Charity balance sheet, the Consolidated statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
- give a true and fair view of the state of the Group's and of the parent charitable company's affairs as at 31 March 2022 and of the Group's incoming resources and application of resources, including its income and expenditure for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities Act 2011.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
## **Other information**
The other information comprises the information included in the Annual report other than the financial statements and our Auditors' report thereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Page 7
**THE PADLEY GROUP**
**(A company limited by guarantee)**
## **Independent auditors' report to the Members of The Padley Group (continued)**
## **Opinion on other matters prescribed by the Companies Act 2006**
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Trustees' report for the financial year for which the financial statements are prepared is consistent with the financial statements.
- the Trustees' report has been prepared in accordance with applicable legal requirements.
## **Matters on which we are required to report by exception**
In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' report.
We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:
- the parent charitable company has not kept adequate and sufficient accounting records, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent charitable company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of Trustees' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Trustees' report and from the requirement to prepare a Strategic report.
## **Responsibilities of trustees**
As explained more fully in the Trustees' responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the Group's and the parent charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.
## **Auditors' responsibilities for the audit of the financial statements**
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Based on our understanding of the charity and sector in which it operates, we considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006.
Audit procedures performed by the engagement team included:
- Enquiry of management around actual and potential litigation and claims;
Page 8
## **THE PADLEY GROUP**
## **(A company limited by guarantee)**
## **Independent auditors' report to the Members of The Padley Group (continued)**
- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
- Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.
## **Use of our report**
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, and to the charitable company's trustees, as a body, Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.
## **Wayne Thomas ACA (Senior Statutory Auditor)**
for and on behalf of
## **Bates Weston Audit Ltd**
Statutory Auditors Chartered Accountants The Mills Canal Street Derby DE12RJ
24 November 2022
Page 9
## **THE PADLEY GROUP**
## **(A company limited by guarantee)**
## **Consolidated Statement of financial activities (incorporating income and expenditure account) For the year ended 31 March 2022**
|**Note**
**Income from:**
Donations and legacies
2
Charitable activities
3
Other trading activities
4
Investments
5
Other income
6
**Total income**
**Expenditure on:**
Raising funds
Charitable activities
**Total expenditure**
**Net (expenditure)/income**
Transfers between funds
15
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Restricted**
**funds**
**2022**
**£**
**76,745**
**21,000**
**-**
**-**
**-**
**97,745**
**-**
**109,677**
**109,677**
**(11,932)**
**(124,726)**
**(136,658)**
**136,658**
**(136,658)**
**-**|**Unrestricted**
**funds**
**2022**
**£**
**257,648**
**64,482**
**76,904**
**41**
**93,903**
**492,978**
**46,785**
**480,190**
**526,975**
**(33,997)**
**124,726**
**90,729**
**368,146**
**90,729**
**458,875**|**Total**
**funds**
**2022**
**£**
**334,393**
**85,482**
**76,904**
**41**
**93,903**
**590,723**
**46,785**
**589,867**
**636,652**
**(45,929)**
**-**
**(45,929)**
**504,804**
**(45,929)**
**458,875**|_Total_
_funds_
_2021_
_£_
_246,737_
_433,591_
_133,146_
_110_
_4,000_|
|---|---|---|---|---|
|||||_817,584_|
|||||_43,819_
_581,186_|
|||||_625,005_|
|||||_192,579_
_-_|
|||||_192,579_|
|||||_312,225_
_192,579_|
|||||_504,804_|
The notes on pages 14 to 29 form part of these financial statements.
Page 10
## **THE PADLEY GROUP (A company limited by guarantee) Registered number: 2769300**
## **Consolidated balance sheet As at 31 March 2022**
|**Note**
**Fixed assets**
Tangible assets
10
**Current assets**
Debtors
12
Investments
13
Cash at bank and in hand
Creditors: amounts falling due within one
year
14
**Net current assets**
**Total assets less current liabilities**
**Total net assets**
**Charity funds**
Restricted funds
15
Unrestricted funds
15
**Total funds**|**54,530**
**133,748**
**411,715**
**599,993**
**(141,118)**|**2022**
**£**
**-**
**-**
**458,875**
**458,875**
**458,875**
**-**
**458,875**
**458,875**|_27,903_
_133,707_
_242,884_
_404,494_
_(61,409)_|_2021_
_£_
_161,719_|
|---|---|---|---|---|
|||||_161,719_
_343,085_|
|||||_504,804_|
||||||
|||||_504,804_|
|||||_136,658_
_368,146_|
||||||
|||||_504,804_|
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
## **A Shaw**
Date: 16 November 2022
The notes on pages 14 to 29 form part of these financial statements.
Page 11
## **THE PADLEY GROUP (A company limited by guarantee) Registered number: 2769300**
## **Charity balance sheet As at 31 March 2022**
|**Note**
**Fixed assets**
Tangible assets
10
Investments
11
**Current assets**
Debtors
12
Investments
13
Cash at bank and in hand
Creditors: amounts falling due within one
year
14
**Net current assets**
**Total assets less current liabilities**
**Total net assets**
**Charity funds**
Restricted funds
15
Unrestricted funds
15
**Total funds**|**42,190**
**133,748**
**410,383**
**586,321**
**(149,217)**|**2022**
**£**
**-**
**2**
**2**
**437,104**
**437,106**
**437,106**
**-**
**437,106**
**437,106**|_14,335_
_133,707_
_239,363_
_387,405_
_(75,988)_|_2021_
_£_
_123,915_
_2_|
|---|---|---|---|---|
|||||_123,917_
_311,417_|
|||||_435,334_|
||||||
|||||_435,334_|
|||||_136,658_
_298,676_|
||||||
|||||_435,334_|
The Charity's net movement in funds for the year was _£_ 1,772 _(2021 - £189,666)_ .
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
## **A Shaw**
Date: 16 November 2022
Page 12
## **THE PADLEY GROUP**
## **(A company limited by guarantee)**
## **Consolidated statement of cash flows For the year ended 31 March 2022**
|**Cash flows from operating activities**
Net cash used in operating activities
**Cash flows from investing activities**
Proceeds from the sale of tangible assets
**Net cash provided by investing activities**
**Change in cash and cash equivalents in the year**
Cash and cash equivalents at the beginning of the year
**Cash and cash equivalents at the end of the year**
The notes on pages 14 to 29 form part of these financial statements|**2022**
**£**
**(81,128)**
**250,000**
**250,000**
**168,872**
**376,591**
**545,463**|_2021_
_£_
_189,595_|
|---|---|---|
|||_-_|
|||**-**|
|||**189,595**
_186,996_|
||||
|||_376,591_|
||||
Page 13
**THE PADLEY GROUP**
## **(A company limited by guarantee)**
**Notes to the financial statements For the year ended 31 March 2022**
## **1. Accounting policies**
## **1.1 Basis of preparation of financial statements**
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The Padley Group meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The Consolidated statement of financial activities (SOFA) and Consolidated balance sheet consolidate the financial statements of the Charity and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis.
The Charity has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of financial activities in these financial statements.
## **1.2 Income**
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Charity has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Charity, can be reliably measured.
Grants are included in the Consolidated statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Donated services or facilities are recognised when the Charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the Charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time is not recognised and refer to the Trustees' report for more information about their contribution.
On receipt, donated professional services and facilities are recognised on the basis of the value of the gift to the Charity which is the amount it would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
Page 14
**THE PADLEY GROUP**
## **(A company limited by guarantee)**
**Notes to the financial statements For the year ended 31 March 2022**
## **1. Accounting policies (continued)**
## **1.3 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Support costs are those costs incurred directly in support of expenditure on the objects of the Charity and include project management carried out at Headquarters.
Expenditure on raising funds includes all expenditure incurred by the Group to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
## **1.4 Government grants**
Government grants are recognised when the grant is receivable and conditions have been met.
## **1.5 Tangible fixed assets and depreciation**
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
At each reporting date the Charity assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined to be the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following bases:
- Long-term leasehold property over the period of the lease Motor vehicles - 25% per annum straight line basis
## **1.6 Investments**
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment.
Investments in subsidiaries are valued at cost less provision for impairment.
Page 15
**THE PADLEY GROUP**
**(A company limited by guarantee)**
## **Notes to the financial statements For the year ended 31 March 2022**
## **1. Accounting policies (continued)**
## **1.7 Debtors**
Trade and other debtors are recognised at the settlement amount. Prepayments are valued at the amount prepaid.
## **1.8 Operating leases**
Rentals paid under operating leases are charged to the Consolidated statement of financial activities on a straight line basis over the lease term.
## **1.9 Pensions**
The Group operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Group to the fund in respect of the year.
## **1.10 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Group and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Group for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
## **2. Income from donations and legacies**
|**Government grants**
Coronavirus Job Retention Scheme
Derby City Council
Donations
Legacies
_Total 2021_|**Restricted**
**funds**
**2022**
**Unrestricted**
**funds**
**2022**
**£**
**£**
-
-
76,745
47,799
76,745
47,799
-
189,768
-
20,081
76,745
257,648
_-_
_246,737_|**Total**
**funds**
**2022**
**£**
**-**
**124,544**
**124,544**
**189,768**
**20,081**
**334,393**
_246,737_|_Total_
_funds_
_2021_
_£_
_23,775_
_-_|
|---|---|---|---|
||||_23,775_|
||||_208,528_
_14,434_|
||||_246,737_|
|||||
Page 16
## **THE PADLEY GROUP**
## **(A company limited by guarantee)**
## **Notes to the financial statements For the year ended 31 March 2022**
## **3. Income from charitable activities**
|Hostel income
Grant income
_Total 2021_|**Restricted**
**funds**
**2022**
**Unrestricted**
**funds**
**2022**
**£**
**£**
-
61,282
21,000
3,200
21,000
64,482
_141,267_
_292,324_|**Total**
**funds**
**2022**
**£**
**61,282**
**24,200**
**85,482**
_433,591_|_Total_
_funds_
_2021_
_£_
_192,344_
_241,247_|
|---|---|---|---|
||||_433,591_|
|||||
## **4. Income from other trading activities Income from fundraising events**
|**Unrestricted**
**funds**
**2022**
**£**
Fundraising
19,757
Other trading income
92
Shop trading income
50,210
Sale of food and products
6,845
76,904|**Total**
**funds**
**2022**
**£**
**19,757**
**92**
**50,210**
**6,845**
**76,904**|_Total_
_funds_
_2021_
_£_
_94,295_
_6,013_
_17,904_
_14,934_|
|---|---|---|
|||_133,146_|
## **5. Investment income**
||**Unrestricted**|**Total**|_Total_|
|---|---|---|---|
||**funds**|**funds**|_funds_|
||**2022**|**2022**|_2021_|
||**£**|**£**|_£_|
|Interest on cash deposits|41|**41**|_110_|
Page 17
## **THE PADLEY GROUP**
## **(A company limited by guarantee)**
## **Notes to the financial statements For the year ended 31 March 2022**
## **6. Other incoming resources**
|Employment allowance
Profit on sale of fixed assets|**Unrestricted**
**funds**
**2022**
**£**
4,000
89,903
93,903|**Total**
**funds**
**2022**
**£**
**4,000**
**89,903**
**93,903**|_Total_
_funds_
_2021_
_£_
_4,000_
_-_|
|---|---|---|---|
||||_4,000_|
## **7. Analysis of expenditure by activities**
|Hostel and centres
Grants|**Activities**
**undertaken**
**directly**
**2022**
**£**
232,301
487
232,788|**Support**
**costs**
**2022**
**£**
357,079
-
357,079|**Total**
**funds**
**2022**
**£**
**589,380**
**487**
**589,867**|_Total_
_funds_
_2021_
_£_
_574,244_
_6,942_|
|---|---|---|---|---|
|||||_581,186_|
## **Analysis of direct costs**
|Staff costs
Depreciation
Grants
Kitchen and collection costs
Service user costs|**Total**
**funds**
**2022**
**£**
**229,972**
**1,623**
**487**
**336**
**370**
**232,788**|_Total_
_funds_
_2021_
_£_
_312,698_
_15,054_
_6,942_
_1,761_
_2,509_|
|---|---|---|
|||_338,964_|
Page 18
**THE PADLEY GROUP (A company limited by guarantee)**
## **Notes to the financial statements For the year ended 31 March 2022**
## **7. Analysis of expenditure by activities (continued)**
## **Analysis of support costs**
|Staff costs
Maintenance
Relocation costs
Legal and professional fees
Training and personnel
Administration
Auditors remuneration
Cleaning and premises expenses
Utilities
Fundraising and publicity
Rent, rates and insurance|**Total**
**funds**
**2022**
**£**
**135,713**
**7,806**
**124,544**
**3,859**
**3,531**
**10,263**
**4,240**
**15,288**
**6,280**
**2,867**
**42,688**
**357,079**|_Total_
_funds_
_2021_
_£_
_112,054_
_22,356_
_-_
_5,738_
_1,063_
_9,927_
_4,050_
_23,326_
_14,393_
_5,150_
_44,165_|
|---|---|---|
|||_242,222_|
## **8. Staff costs**
|Wages and salaries
Social security costs
Contribution to defined contribution pension
schemes|**Group**
**2022**
**£**
**333,406**
**23,067**
**9,212**
**365,685**|_Group_
_2021_
_£_
_399,681_
_16,866_
_8,205_
_424,752_|**Charity**
**2022**
**£**
**333,406**
**23,067**
**9,212**
**365,685**|_Charity_
_2021_
_£_
_399,681_
_16,866_
_8,205_|
|---|---|---|---|---|
|||||_424,752_|
The average number of persons employed by the Charity during the year was as follows:
||**Group**|_Group_|
|---|---|---|
||**2022**|_2021_|
||**No.**|_No._|
|Average number of employees|**21**|_23_|
Page 19
**THE PADLEY GROUP (A company limited by guarantee)**
## **Notes to the financial statements For the year ended 31 March 2022**
## **8. Staff costs (continued)**
No employee received remuneration amounting to more than £60,000 in either year.
Key management personnel are considered to be the Business Manager and Finance Co-ordinator who received total remuneration of £48,552 (2021: £45,155).
## **9. Trustees' remuneration and expenses**
During the year, no Trustees received any remuneration or other benefits _(2021 - £NIL)_ .
During the year ended 31 March 2022, no expenses were reimbursed or paid directly to Trustees _(2021 - £_ Nil).
## **10. Tangible fixed assets**
## **Group**
|**Cost**
At 1 April 2021
Disposals
At 31 March 2022
**Depreciation**
At 1 April 2021
Charge for the year
On disposals
At 31 March 2022
**Net book value**
At 31 March 2022
_At 31 March 2021_|**Long-term**
**leasehold**
**property**
**£**
**426,251**
**(426,251)**
**-**
**266,155**
**-**
**(266,155)**
**-**
**-**
_160,096_|**Motor**
**vehicles**
**£**
**6,495**
**-**
**6,495**
**4,872**
**1,623**
**-**
**6,495**
**-**
_1,623_|**Total**
**£**
**432,746**
**(426,251)**
**6,495**
**271,027**
**1,623**
**(266,155)**
**6,495**
**-**
_161,719_|
|---|---|---|---|
Page 20
**THE PADLEY GROUP (A company limited by guarantee)**
## **Notes to the financial statements For the year ended 31 March 2022**
|**10.**
**Tangible fixed assets (continued)**
**Charity**
**Cost**
At 1 April 2021
Disposals
At 31 March 2022
At 1 April 2021
On disposals
At 31 March 2022
**Net book value**
At 31 March 2022
_At 31 March 2021_
**11.**
**Fixed asset investments**
**Charity**
**Cost**
At 1 April 2021
At 31 March 2022|**Long-term**
**leasehold**
**property**
**£**
**312,547**
**(312,547)**
**-**
**188,632**
**(188,632)**
**-**
**-**
_123,915_
**Investments**
**in**
**subsidiary**
**companies**
**£**
**2**
**2**|
|---|---|
Page 21
## **THE PADLEY GROUP (A company limited by guarantee)**
## **Notes to the financial statements For the year ended 31 March 2022**
## **11. Fixed asset investments (continued)**
## **Principal subsidiaries**
The following was a subsidiary undertaking of the Charity:
**Name Company Registered office or principal Principal activity number place of business** Padley Trading Ltd 02635560 27 East Street, Derby, DE1 2AL Charity Shop **Class of Holding Included in shares consolidation** Ordinary 100% Yes
The financial results of the subsidiary for the year were:
|**Name**
**Income**
**£**
**Expenditure**
**£**
**Loss for the**
**year**
**£**
Padley Trading Ltd
**50,210**
**97,911**
**(47,701)**
**12.**
**Debtors**
**Group**
_Group_
**Charity**
**2022**
_2021_
**2022**
**£**
_£_
**£**
**Due within one year**
Trade debtors
**3,562**
_3,184_
**3,542**
Other debtors
**5,596**
_5,438_
**3,667**
Prepayments and accrued income
**45,372**
_19,281_
**34,981**
**54,530**
_27,903_
**42,190**
**13.**
**Current asset investments**
**Group**
_Group_
**Charity**
**2022**
_2021_
**2022**
**£**
_£_
**£**
Short term deposits
**133,748**
_133,707_
**133,748**|**Net assets**
**£**
**21,771**
_Charity_
_2021_
_£_
_3,184_
_3,591_
_7,560_|
|---|---|
|||
||_14,335_|
||_Charity_
_2021_
_£_
_133,707_|
Page 22
## **THE PADLEY GROUP**
## **(A company limited by guarantee)**
## **Notes to the financial statements For the year ended 31 March 2022**
## **14. Creditors: Amounts falling due within one year**
|Trade creditors
Amounts owed to group undertakings
Other creditors
Accruals and deferred income
Deferred income at 1 April 2021
Resources deferred during the year
Amounts released from previous periods|**Group**
**2022**
**£**
**82,446**
**-**
**9,344**
**49,328**
**141,118**
**Group**
**2022**
**£**
**10,095**
**4,325**
**(10,095)**
**4,325**|_Group_
_2021_
_£_
_22,807_
_-_
_8,515_
_30,087_
_61,409_
_Group_
_2021_
_£_
_18,347_
_10,095_
_(18,347)_
_10,095_|**Charity**
**2022**
**£**
**79,567**
**15,931**
**7,411**
**46,308**
**149,217**
**Charity**
**2022**
**£**
**10,095**
**4,325**
**(10,095)**
**4,325**|_Charity_
_2021_
_£_
_21,801_
_19,225_
_8,515_
_26,447_
_75,988_
_Charity_
_2021_
_£_
_18,347_
_10,095_
_(18,347)_
_10,095_|
|---|---|---|---|---|
Deferred income at 31 March 2022 relates to grant income received by the Charity in accordance with their respective funding agreements.
Page 23
**THE PADLEY GROUP**
## **(A company limited by guarantee)**
## **Notes to the financial statements For the year ended 31 March 2022**
## **15. Statement of funds**
## **Statement of funds - current year**
|**Unrestricted funds**
**Designated funds**
Transition Fund
Property Fund
**General funds**
General Funds
**Total Unrestricted funds**
**Restricted funds**
Day centre refurbishments
EMDA - Recycling centre
capital grant
Lloyds Bank Foundation
Jeff Wellor Community Grant
WoRTH
DCC ARG
**Total of funds**|**Balance at 1**
**April 2021**
**£**
**150,000**
**-**
**150,000**
**218,146**
**368,146**
**65,977**
**52,976**
**11,932**
**773**
**5,000**
**-**
**136,658**
**504,804**|**Income**
**£**
**-**
**-**
**-**
**492,978**
**492,978**
**-**
**-**
**21,000**
**-**
**-**
**76,745**
**97,745**
**590,723**|**Expenditure**
**£**
**(95,968)**
**-**
**(95,968)**
**(431,007)**
**(526,975)**
**-**
**-**
**(32,932)**
**-**
**-**
**(76,745)**
**(109,677)**
**(636,652)**|**Transfers**
**in/out**
**£**
**(54,032)**
**300,000**
**245,968**
**(121,242)**
**124,726**
**(65,977)**
**(52,976)**
**-**
**(773)**
**(5,000)**
**-**
**(124,726)**
**-**|**Balance at**
**31 March**
**2022**
**£**
**-**
**300,000**|
|---|---|---|---|---|---|
||||||**300,000**|
||||||**158,875**|
||||||**458,875**|
||||||**-**
**-**
**-**
**-**
**-**
**-**|
||||||**-**|
||||||**458,875**|
Page 24
## **THE PADLEY GROUP**
## **(A company limited by guarantee)**
## **Notes to the financial statements For the year ended 31 March 2022**
## **15. Statement of funds (continued)**
## **Statement of funds - prior year**
|**Unrestricted funds**
**Designated funds**
Transition Fund
**General funds**
General Funds - all funds
**Total Unrestricted funds**
**Restricted funds**
Day centre refurbishments
EMDA - Recycling centre
capital grant
Lloyds Bank Foundation
Jeff Wellor Community Grant
WoRTH
Community Action Derby
Derbyshire Community
Foundation
Tesco
Big Lottery
**Total of funds**|_Balance at_
_1 April 2020_
_£_
_-_
_176,115_
_176,115_
_66,836_
_59,405_
_-_
_773_
_9,096_
_-_
_-_
_-_
_-_
_136,110_
_312,225_|_Income_
_£_
_-_
_678,037_
_678,037_
_-_
_-_
_52,932_
_-_
_25,579_
_250_
_6,367_
_500_
_55,639_
_141,267_
_819,304_|_Expenditure_
_£_
_-_
_(486,006)_
_(486,006)_
_(859)_
_(6,429)_
_(41,000)_
_-_
_(29,675)_
_(250)_
_(6,367)_
_(500)_
_(55,639)_
_(140,719)_
_(626,725)_|_Transfers_
_in/out_
_£_
_150,000_
_(150,000)_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_|_Balance at_
_31 March_
_2021_
_£_
_150,000_|
|---|---|---|---|---|---|
||||||_218,146_|
||||||_368,146_|
||||||_65,977_
_52,976_
_11,932_
_773_
_5,000_
_-_
_-_
_-_
_-_|
||||||_136,658_|
||||||_504,804_|
Page 25
**THE PADLEY GROUP**
**(A company limited by guarantee)**
**Notes to the financial statements For the year ended 31 March 2022**
## **16. Description of funds**
## **Restricted Funds**
Day Centre refurbishment represents funds received of £50,000 from Derby City Council and £174,000 from the National Lottery to acquire the lease of the Day Centre. The fund is being written off over the useful life of the asset in accordance with its depreciation policy.
East Midlands Development Agency fund relates to £24,638 received in 2002 to purchase the freehold building now forming the Recycling Centre, and £62,462 received in 2003 towards the cost of refurbishing that building.
Lloyds foundation funding is to support staff costs in the delivery of Housing support to reduce homelessness and prevent repeat homelessness. This funding is part of the Enhance programme providing additional support from consultants to undertake: Governance Review; achieve Registered Provider status; Business Manager’s skill development and many more dependent on need.
WoRTH funding provided by MHCLG from Tampon Tax funding to support the “Ending of risk to Women through Homelessness”, Padley is the lead partner of a tripartite arrangement with Mid Mercia CAB and Women’s Work. We have appointed a Women’s Champion who is being supported and mentored by Women's Work and supported with advise surgeries by MMCAB. The aims of the project are to upskill our own staff in delivering Trauma Informed gender specific services and provide a gender informed space for the delivery of our services. We are to map provision for Women at Risk in derby and share those pathways with all relevant sectors. We will also train 40 staff across organisations in the City to also deliver trauma informed gender specific services.
The DCC Grant related to the relocation of the Day Centre at Becket Street to Liversage Street due to the Becketwell site development.
## **Transfers**
The transfers made during the year were in relation to balances for the Day Centre Refurbishments and East Midlands Development Agency. These funds were held in for the property which has now been sold, with the only expenditure against the fund balances being depreciation. As a result of the disposal during the year, no further funds will be allocated to this development.
## **Designated Funds**
The transition fund has been created to cover the costs of the enforced re-location of the Padley Centre and Warehouse from Beckett Street, Derby in order to enable the major City centre Becketwell Development to take place, and specifically the proposed Arena. This reserve will support the costs of transition management, the change over a period of time from hostel type accommodation to selfcontained dispersed housing units.
The property fund has been designated for the contribution towards developments of the new Padley Centre at an alternative site. This is made up of the £50,000 remaining from the transition fund designated in 2021 and another £250,000 designated from the general reserves in the year.
Page 26
## **THE PADLEY GROUP**
## **(A company limited by guarantee)**
## **Notes to the financial statements For the year ended 31 March 2022**
## **17. Summary of funds**
## **Summary of funds - current year**
|Designated funds
General funds
Restricted funds|**Balance at 1**
**April 2021**
**£**
**150,000**
**218,146**
**136,658**
**504,804**
_Balance at_
_1 April 2020_
_£_
_-_
_176,115_
_136,110_
_312,225_|**Income**
**£**
**-**
**492,978**
**97,745**
**590,723**
_Income_
_£_
_-_
_678,037_
_141,267_
_819,304_|**Expenditure**
**£**
**(95,968)**
**(431,007)**
**(109,677)**
**(636,652)**
_Expenditure_
_£_
_-_
_(486,006)_
_(140,719)_
_(626,725)_|**Transfers**
**in/out**
**£**
**245,968**
**(121,242)**
**(124,726)**
**-**
_Transfers_
_in/out_
_£_
_150,000_
_(150,000)_
_-_
_-_|**Balance at**
**31 March**
**2022**
**£**
**300,000**
**158,875**
**-**|
|---|---|---|---|---|---|
||||||**458,875**|
||||||_Balance at_
_31 March_
_2021_
_£_
_150,000_
_218,146_
_136,658_|
|**Summary of funds - prior year**||||||
|Designated funds
General funds
Restricted funds||||||
||||||_504,804_|
## **18. Analysis of net assets between funds Analysis of net assets between funds - current year**
|**Unrestricted**
**funds**
**2022**
**£**
Current assets
599,993
Creditors due within one year
(141,118)
**Total**
458,875|**Total**
**funds**
**2022**
**£**
**599,993**
**(141,118**|
|---|---|
||**458,875**|
Page 27
## **THE PADLEY GROUP**
## **(A company limited by guarantee)**
## **Notes to the financial statements For the year ended 31 March 2022**
## **18. Analysis of net assets between funds (continued)**
## **Analysis of net assets between funds - prior year**
|Tangible fixed assets
Current assets
Creditors due within one year
**Total**|_Restricted_
_funds_
_2021_
_£_
_118,801_
_37,857_
_(20,000)_
_136,658_|_Unrestricted_
_funds_
_2021_
_£_
_42,918_
_366,637_
_(41,409)_
_368,146_|_Total_
_funds_
_2021_
_£_
_161,719_
_404,494_
_(61,409)_|
|---|---|---|---|
||||_504,804_|
## **19. Reconciliation of net movement in funds to net cash flow from operating activities**
|Net income/expenditure for the year (as per Statement of Financial
Activities)
**Adjustments for:**
Depreciation charges
Loss/(profit) on the sale of fixed assets
Movement in debtors
Movement in creditors
**Net cash provided by/(used in) operating activities**|**Group**
**2022**
**£**
**(45,929)**
**1,623**
**(89,904)**
**(36,655)**
**89,737**
**(81,128)**|_Group_
_2021_
_£_
_192,579_|
|---|---|---|
|||_15,054_
_-_
_(188)_
_(17,850)_|
||||
|||_189,595_|
## **20. Analysis of cash and cash equivalents**
|Cash in hand
Current asset investments
**Total cash and cash equivalents**|**Group**
**2022**
**£**
**411,715**
**133,748**
**545,463**|_Group_
_2021_
_£_
_242,884_
_133,707_|
|---|---|---|
||||
|||_376,591_|
Page 28
## **THE PADLEY GROUP**
## **(A company limited by guarantee)**
## **Notes to the financial statements For the year ended 31 March 2022**
## **21. Analysis of changes in net debt**
|Cash at bank and in hand
Liquid investments|**At 1 April**
**2021**
**£**
**242,884**
**133,707**
**376,591**|**Cash flows**
**£**
**168,831**
**41**
**168,872**|**At 31 March**
**2022**
**£**
**411,715**
**133,748**|
|---|---|---|---|
||||**545,463**|
## **22. Pension commitments**
The group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the group to the fund and amounted to £9,212 (2021 - £8,205). Contributions totaling £1,761 (2021 - £3,533) were payable to the fund at the balance sheet date and are included in creditors.
## **23. Operating lease commitments**
At 31 March 2022 the Group and the Charity had commitments to make future minimum lease payments under non-cancellable operating leases as follows:
|Not later than 1 year
Later than 1 year and not later than 5 years|**Group**
**2022**
**£**
**23,022**
**67,500**
**90,522**|_Group_
_2021_
_£_
_23,820_
_522_|
|---|---|---|
||||
|||_24,342_|
## **24. Related party transactions**
The Charity has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the Charity at 31 March 2022.
Page 29