2022-03-31-accounts

Charity Registration No. 1018920

Company Registration No. 02724141 (England and Wales)

GLEBE HOUSE (CHARNWOOD) LIMITED TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

GLEBE HOUSE (CHARNWOOD) LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees	Mr N Chiragh (Honorary Treasurer)
	Dr G Balasubramaniam
	Mrs S Elliott
	Mr D Frost (Resigned 30 July 2022)
	Mr B Higgins
	Mrs M Moore
	Mrs L Nicholls-Sykes
	Mr T Unsworth
Chief Executive	Mr P Warlow
Charity number	1018920
Company number	02724141
Principal address	Woodgate Chambers
	70 Woodgate
	Loughborough
	Leicestershire
	LE11 2TZ
Registered office	Woodgate Chambers
	70 Woodgate
	Loughborough
	Leicestershire
	LE11 2TZ
Auditor	Newby Castleman LLP
	West Walk Building
	110 Regent Road
	Leicester
	LE1 7LT
Bankers	Lloyds Bank plc
	37/38 High Street
	Loughborough
	Leicester
	LE11 2QG
Investment advisors	iib Financial Services Ltd
	Prospect House
	6 Brookside
	Ashby-de-la-Zouch
	Leicestershire
	LE65 1JW

GLEBE HOUSE (CHARNWOOD) LIMITED

CONTENTS

	Page
Trustees' report	1 - 7
Independent auditor's report	8 - 11
Statement of financial activities	12
Balance sheet	13
Statement of cash flows	14
Notes to the financial statements	15 - 30

GLEBE HOUSE (CHARNWOOD) LIMITED

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2022

The trustees who are also directors of the charitable company present their report and financial statements of the charity for the year ended 31 March 2022, which is also prepared to meet the requirements for a director’s report and accounts for Companies Act purposes.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements, and comply with the charity's governing document, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), Accounting and Reporting by Charities: Statement of Recommended Practice for charities applying FRS 102 (2019), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.

OBJECTIVES AND ACTIVITIES

Objectives

The charity’s objects are to promote any charitable purpose for the benefit of persons who have a learning disability and /or autism or who are caring for someone with a learning disability and/or autism.

The charity provides a wide range of services to children and adults (8-80) with a learning disability and /or autism. Our aim is to improve independency, develop skills and provide a high quality of care and support to those in the Charnwood area, although not exclusively, if they can travel to our location.

Services and support, which are not provided through an agreement with the local authority, are open to anyone who has sufficient funds to support their service. We do consider how to obtain funds for people who do not have resources to pay for services themselves. We make funding applications to funders independent of LCC and staff will regularly support families with help and signposting beyond any contract requirement.

Public benefit statement

The charity Trustees have considered the guidance on public benefit published by the Charity Commission in exercising their powers and duties. The charity has a range of policies and procedures, which are managed by the Quality and Care Manager, and updated and reviewed on a regular basis. A Diversity Statement provides guidance for the fair treatment for all stakeholders in the organisation.

Activities

Glebe House remains a unique provider of services to adults and children with learning disabilities and/or autism in the Charnwood area, offering a range of services and flexibility that is unmatched by any other local provider. Although pressures have increased on our clients’ personal budgets, we have retained our overall numbers across the charity over the past twelve months. We support over 140 adults and children with learning disabilities on a regular basis. All of our adult and children’s services are funded through individual’s personal budgets, which means that the primary source of income is Leicestershire County Council. Clients/carers can choose to manage this budget themselves or request that the Council manages the funding on their behalf.

Bryan Higgins stepped down as the Chair of Trustees after the November 2021 AGM although he remains a Trustee. No replacement Chair has been appointed, with meetings being chaired by a rotation of the Directors. Naveed Chiragh retains his role as Honorary Treasurer. The Board retained all of its members over the course of the year, with no new trustees and no resignations for the second year in succession. The Finance and General Purposes (“F&GP”) subcommittee, chaired by Naveed Chiragh, continues to meet online, on a regular basis to provide detailed support to the main Board. The other F&GP members in this year were, Geetha Bala, David Frost, Bryan Higgins, Peter Warlow (Chief Executive) and Kirstie Jackson (Finance Manager).

All of the Board meetings and F&GP meetings since January 2020 have been held online and this continued throughout 2021 and into 2022. Until such time as “face to face” meetings are restored, online meetings have become the standard format. Marie Moore has been a Board Member for over twenty years, and this is justified on the grounds that, she is one of two Trustees who have sons with a learning disability who use the services of Glebe House, providing a unique perspective on the charity’s governance and performance.

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GLEBE HOUSE (CHARNWOOD) LIMITED

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Adult Services: Based at Woodgate Chambers unless otherwise stated.

These are the services currently provided by Glebe House for over 140 adults and children.

• Community Life Choices supports adults between the ages of 18-80 each weekday and through a person-centred planning approach ensures that people have a choice of activities including access to community facilities, trips and leisure services. One client with profound learning disabilities who requires higher levels of care and support (PMLD) also attends Community Life Choices.

• Adult Home and Community Support service provides community-based support to adults to enable them to keep safe, healthy and happy either in their own homes or with their families. The extensive range of activities catered for within the service enables those supported to have a wider variety of activities and opportunities for friendships.

• The Weekend and Short Break service is provided at Glebe Cottage for those over 16 years old with a budget to support their stay. Each overnight stay is personalised to the client attending and is aimed at providing a short respite for both the client and the carers. This is a CQC registered service.

• Challenge days (also known as Adult Activity Days) are usually provided for 12 days a year throughout holidays during the year, for young adults and they choose a variety of ‘days out’ such as boat trips, theme parks or to places of local interest.

• The Autism service is delivered in three locations, Glebe Cottage, Woodgate Chambers and some of the group now attend The Old School in Shepshed. The service operates for five days a week, supports young adults with autism who have high levels of dependency. Many of the clients require at least a 1:1 staffing ratio.

• The Work Skills service operates every weekday from Glebe Workshop. This programme supports those who are looking to develop practical skills in the Workshop and the allotments. The prime areas of support are gardening and property maintenance and woodworking. The Work Skills team contributes to the overall maintenance and safety of Glebe House.

• The evening Social Clubs provide safe social interaction. Socialisation remains a key area of importance for those with learning disabilities, which is why the Glebe House Social clubs are so important. The activities of the Monday night Youth Club (ages 17-23) and the Wednesday evening Carry On Club (aged 24+) are planned by those attending but funded by fundraising by Glebe House, parents and carers and a small contribution made by clients. The Monday night disco remains a hugely popular monthly event, with more clients under one roof at the same time than for any other Glebe House service.

• The Transitions service aim is to enable young people to move seamlessly from our children’s service into one of our adult services. We encourage the young person to review all of their options, including attending college and other providers and help them to develop a package of support that will help them in the next stage of their life.

Children Services: Based at The Old School, Shepshed and Rawlins Community College

• An After School Club during term-time for up to 4 days a week.

• Holiday Play Scheme activities for up to 10 children a day during half terms and school holidays. The Play Scheme is on the voluntary Ofsted registration.

• Saturday respite days, every Saturday, for up to 20 children each weekend, providing a day full of activities and outings.

• Children’s Buddy sitting service is primarily a sitting service for children with learning disabilities, but overnight stays and trips out can also be provided. The service is funded from personal budgets and direct payments.

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GLEBE HOUSE (CHARNWOOD) LIMITED

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

The management and Board ensure that the services remain relevant to the clients and remain at a high standard by implementing client surveys once a year and having suggestion boxes in the venues. In previous years, the Chief Executive has attended a Client Representative meeting every quarter, which gave clients the opportunity to formally comment on current services, how they can be improved and also to make suggestions for new services. These meetings were suspended in March 2020 and due to social distancing, have not yet been reinstated.

ACHIEVEMENTS AND PERFORMANCE

Summary of Performance

In the 2020/21 annual review, Covid 19 dominated every aspect of the charity’s organisation and activities. In Spring 2022, there are signs that the last serious Covid control measures are coming to an end. However, the infection has once again been significant over the last 12 months, with capacity restrictions in our venues and constant absences by clients and staff due to self-isolation, disrupting the services. In early 2022, we lifted all capacity restrictions but the combination of staff shortages and some clients changing their service requirements means that the number of support hours provided has yet to return to the March 2020 levels.

The prevailing attitude in the past years has been one of caution, from the clients, carers and the charity, with all of us trying to ensure that the risk of passing on the infection is limited as much as possible. This cautious approach has muted much of the service delivery and prevented the team from putting into place the strategic plan that was signed off in the days just before the March 2020 lockdown.

During the course of the year, we successfully tendered for a new contract for Community Life Choices Adults Services with LCC and extended our lease for Glebe Workshop. We also extended our existing Children’s Framework agreement. We had a successful Ofsted inspection in August 2021 -there were no other third-party inspections. We subscribed to a Policy update service which keeps our policies and procedures legally compliant. As the Covid restrictions fade, we have returned to all of the past activities, including going to the gym, bowling, swimming, playing tennis, going to the cinema and attending shows and numerous other community events.

Financially, although Glebe House remains in a strong position for the next twelve months, there is no doubt that the fallout from the restricted attendance numbers had a major effect on our income and subsequently our annual surplus.

The roles played by the management team individually and collectively over the past 12 months is the primary reason why Glebe House has retained its reputation as a high-quality provider of services.

Support for Other Organisations

We have continued a strong association with Steps, which is a provider of services for children with disabilities as well as supporting many community venues in the area. All of our team leaders attend client reviews when requested and we provide a high level of feedback to all stakeholders to get the highest level of support available for those we support.

FINANCIAL REVIEW

The results for the year ended 31[st] March 2022 are shown in the Statement of Financial Activities on page 12. This, together with the balance sheet on page 13, should be read in conjunction with the related notes which have been prepared in accordance with the Charities SORP 2019 (FRS 102).

Total income for the year amounted to £837,608 (2021 - £1,031,160). The principal funding source continues to be charitable activity income from the Leicestershire County Council. However, many clients now have their own budgets (albeit that these are funded from the Council) which pay for the services that they choose and this includes allocated funds for overnight respite. The main children’s services are also funded from personal budgets paid from Leicestershire County Council.

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GLEBE HOUSE (CHARNWOOD) LIMITED

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Total expenditure for the year amounted to £896,012 (2021 - £914,821). A breakdown of expenditure is set out in notes to the financial statements.

Prior to the revaluation of tangible fixed assets, but after transfers between funds, there was a deficit on unrestricted funds totalling £53,709 and a surplus on restricted funds totalling £5,760 giving a combined deficit of £47,949. After revaluation gains of £25,000 (2021 - £25,000), there was a £22,949 decrease (2021 - £202,191 increase) in funds for the year. The funds for the charity at the year-end totalled £992,449 which comprise restricted funds of £16,822 and unrestricted funds of £975,627.

Reserves Policy

Reserves are needed to cover any immediate drop in income caused by external unforeseeable circumstances. The Trustees have set a reserves policy, which requires that reserves be maintained at a level, which ensures that Glebe House (Charnwood) Limited’s core activity could continue during a period of unforeseen difficulty and that a proportion of reserves be maintained in a readily realisable form. The Trustees consider readily realisable reserves to be the amount of reserves that are easily converted into cash should the need arise (‘free reserves’). The calculation of the required level of reserves is an integral part of Glebe House (Charnwood) Ltd’s planning, budgeting and forecasting cycle. It takes into account the risks associated with each stream of income and expenditure varying from budget; the planned activity level; and Glebe House (Charnwood) Limited’s future commitments or costs concerned with level of reserves needed in the event of the closure of the charity’s activities, including redundancy pay and the full cost of leases and commitments which would crystallise. The Trustees consider that the ideal level of reserves as at 31[st] March 2022 would be £346,000.

The balance of reserves at 31[st] March 2022 was £992,449, made up of £16,822 restricted funds and £975,627 of unrestricted funds. Current free reserves (unrestricted funds less tangible fixed assets and investments) are £319,421, which is slightly below the reserves policy.

Investment Policy and Performance

It is our policy that investments need to be readily accessible and that we maintain a balance between income and capital growth. iib Financial Services Ltd, who invest our funds according to our policy, manages the charity investments. The market value of investments has increased to be £245,804 at 31 March 2022 (2021 - £236,905). The F&GP group recommends the organisation that manages the investments to the Board after a selection process and this decision is reviewed annually.

Risk Management

The Trustees recognise the importance of Risk Management within the framework of governance and internal control. It remains the responsibility of the Chief Executive to provide the input for the risk management system, whilst the Trustees continue to review the major risks to which the charity is exposed and ensure that systems have been established to mitigate those risks. A risk management policy has been implemented which includes:

• An annual review of the risks which the charity may face and updating of the risk register.

• The establishment of systems and procedures to mitigate those risks identified in the review.

• The implementation of procedures designed to minimise any potential impact on the charity should any of these risks materialise. These are found in the Business Continuity Plan.

All staff members, together with Trustees, are involved in identifying the risks that the charity faces. The most serious risks, COVID 19 notwithstanding, remain overall social care budget cuts which will impact the level of individual personal budgets. In addition, the key risks are an imprecise pricing policy, poor cash flow, an incident or inspection that could cause a loss of reputation and increased competition. The accessibility of the

building is assessed and the identified risks are managed as far as reasonably possible alongside the requirements of the Disability Discrimination Act 1995 (DDA). Ongoing staff training takes place to maintain skills and knowledge levels. Glebe House is recognised as a Disability Confident Employer by the DWP.

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GLEBE HOUSE (CHARNWOOD) LIMITED

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Glebe House retains the services of Flint Bishop who provide Glebe House with a professional HR update service in addition to advice and guidance and reduce the risk of HR non-compliance. The services of LRB Consulting are retained to provide professional support and regular audits on matters of Health and Safety and Fire Safety.

The dilapidations matter that has continued since the ending of the lease at 190 Forest Road, in April 2013, continues without resolution. Funds have been allocated in previous accounts and despite requests for updated information, there has been no meaningful correspondence from LCC since April 2015 and the position remains unchanged.

PLANS FOR FUTURE PERIODS

The business plan that was created in early 2020 is yet to come to fruition as the Covid restrictions continue. The erosion of staff levels over lockdown means that as we reopen, we have an opportunity to bring new staff and new ideas to the charity and seek new funding to improve the client’s support. The most important aim is for the social distancing to end and to get all the clients back to the services that they were used to. We also need to successfully tender for the new Adults Framework and also purchase a replacement vehicle to transport our clients.

STRUCTURE GOVERNANCE AND MANAGEMENT

Governing Document

The organisation is a charitable company limited by guarantee, incorporated on 18[th] June 1992, and registered as a charity on 18[th] March 1993. The charitable company was formed in 1992 by members of the then Charnwood Mencap Society to take over the running of Glebe House. The charitable company was established under a Memorandum of Association that established the objects and powers of the charitable company and is governed under its Articles of Association.

Organisational structure

The Council of Management (Board of Trustees) is currently comprised of a cross-section of people, including parents of a sibling with learning disabilities and those with significant experience of the voluntary and the private sector. The Council of Management meets at least six times a year to set the strategic direction of the charity, ensure financial probity and constitutional compliance and ensure the charity is providing a high standard of services. In the event of the charitable company being wound up, members are required to contribute an amount not exceeding £1.

A Finance and General Purposes subcommittee meets to discuss the detail of finances on a regular basis to provide support to the main Board. Peter Warlow is the Chief Executive and is employed to oversee the dayto-day running of the charity.

Decision making

The Trustees consider the board of trustees and the Chief Executive as comprising the key management personnel of the charity in charge of directing and controlling the charity and running and operating the charity on a day-to-day basis. All Trustees give their time freely and no Trustee remuneration was paid in the year.

Trustees are required to disclose all relevant interests and register them with the Chief Executive and in accordance with the organisations policy, withdraw from decisions where a conflict of interest arises.

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GLEBE HOUSE (CHARNWOOD) LIMITED

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

Recruitment and Appointment of Trustees

In accordance with the Memorandum and Articles of Association the Board of Trustees, may from time to time elect any person, who agrees to hold office, to be a Trustee. The minimum number of Trustees is three and there is no maximum. Disclosure and Barring Service checks are carried out for all Trustees and renewed every three years.

Trustee Induction and Training

All new members of the Board of Trustees spend time with senior management to familiarise themselves with the workings of the organisation. They receive copies of the governing documents and a set of the latest accounts and the Charity Commission’s guidance “The Essential Trustee”. All Trustees are given a copy of the “Good Governance” code for the Voluntary and Community Sector and are provided with information on appropriate conduct. The senior staff occasionally attend the Trustees’ meetings to keep them informed of the current situation and future plans for each service. An annual skills analysis is used to identify gaps in the Board knowledge.

Staff Remuneration Policy

The Trustee Board carries salary reviews out each year. However, a review does not guarantee a pay rise and there is no contractual right to an annual pay rise. Staff will be informed of the result of the review in writing.

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The Trustees (who are also directors of Glebe House (Charnwood) Limited 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 for the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company 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 2019 (FRS 102);

• make judgements and estimates that are reasonable and prudent;

• state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

• prepare financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company, 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the Trustees are aware:

• there is no relevant audit information of which the charitable company’s auditors is unaware; and

• the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

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GLEBE HOUSE (CHARNWOOD) LIMITED

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

SMALL COMPANY PROVISIONS

This report has been prepared having taken advantage of the small companies’ exemption in the Companies Act 2006.

Approved by Board of Trustees on 14 October 2022 and signed on its behalf by

Mr N Chiragh – Honorary Treasurer

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GLEBE HOUSE (CHARNWOOD) LIMITED

INDEPENDENT AUDITOR'S REPORT

TO THE MEMBERS OF GLEBE HOUSE (CHARNWOOD) LIMITED

Opinion

We have audited the financial statements of Glebe House (Charnwood) Limited (the ‘charitable company’) for the year ended 31 March 2022 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 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 charitable company's affairs as at 31 March 2022 and of its 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.

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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’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 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 trustees' report. The trustees are responsible for the other information contained within the trustees' 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.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

• the information given in the trustees' report, incorporating the directors' report, for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• the directors' report has been prepared in accordance with applicable legal requirements.

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GLEBE HOUSE (CHARNWOOD) LIMITED

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF GLEBE HOUSE (CHARNWOOD) LIMITED

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

• adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

• the financial statements are not in agreement with the accounting records and returns; or

• certain disclosures of directors' 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 statement of trustees' responsibilities set out on page 6, the trustees, who are also the directors of the charitable company for the purpose 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 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 charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's 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 auditor's 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.

Extent to which the audit was considered capable of detecting irregularities

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion. However, responsibility for the prevention and detection of fraud ultimately rests with both those charged with governance and management of the charitable company.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, our procedures included the following:

• obtaining an understanding of the legal and regulatory framework applicable to the charitable company by considering the nature of the industry in which the charitable company operates and enquiring of management; and

• identifying the key laws and regulations considered to have a direct impact on the financial statements including the UK Companies Act 2006, UK Charities Act 2011, UK Generally Accepted Accounting Practice and UK tax legislation. Other regulations identified which were not considered to have a direct impact on the financial statements but which were considered central to the ability of the charitable company to operate were those of the Care Quality Commission and Ofsted; and

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GLEBE HOUSE (CHARNWOOD) LIMITED

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF GLEBE HOUSE (CHARNWOOD) LIMITED

• assessing how the charitable company is complying with the applicable legal and regulatory framework by making further enquiries of management and observing the company's control environment regarding compliance with regulations and fraud prevention; and

• assessing the susceptibility of the charitable company's financial statements to material misstatement, including how fraud might occur, by considering the effectiveness of the charitable company’s accounting systems and controls and how these were monitored by management. Where the risk of material misstatement was considered to be higher in certain areas, further audit procedures were designed to address this increased risk; and

• discussing amongst the engagement team how and where fraud might occur in the financial statements and any potential indicators of fraud.

Audit response to risks of irregularities identified

Our procedures to respond to risks identified included the following:

• reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations; and

• enquiry of charitable company staff responsible for compliance to identify any instances of non-compliance with laws and regulations; and

• reviewing supporting documentation confirming compliance with specific laws and regulations considered central to the ability of the company to operate; and

• enquiry of management, those charged with governance and other relevant parties around actual and potential litigation claims; and

• reviewing supporting documentation regarding actual and potential litigation claims; and

• reviewing minutes of meetings of those charged with governance; and

• 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; and

• communicating identified laws and regulations and potential fraud risks to all engagement team members and assessing whether there are any indications of fraud or non-compliance with laws and regulations throughout the audit.

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 is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditors/audit-assurance/auditor-s-responsibilities-for-the-audit-of-the-fi/description-of-the-auditor% e2%80%99s-responsibilities-for. This description forms part of our auditor's 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. 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 the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

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GLEBE HOUSE (CHARNWOOD) LIMITED

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF GLEBE HOUSE (CHARNWOOD) LIMITED

Paul Barnett FCCA (Senior Statutory Auditor) for and on behalf of Newby Castleman LLP Chartered Accountants Statutory Auditor West Walk Building 110 Regent Road Leicester LE1 7LT

27 October 2022

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GLEBE HOUSE (CHARNWOOD) LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2022

Unrestricted Restricted funds funds 2022 2022 Notes £ £ Income from: Donations and legacies 3 16,628 11,200 Charitable activities 4 806,455 - Other trading activities 5 1,830 - Investments 6 1,495 - Total 826,408 11,200 Expenditure on: Raising funds 7 2,891 - Charitable activities 8 859,613 1,019 Other 11 32,489 - Total 894,993 1,019 Net gains/(losses) on investments 12 10,455 - Net (expenditure)/income (58,130) 10,181 Transfers between funds 4,421 (4,421) Net (outgoing)/incoming resources (53,709) 5,760 Other recognised gains and losses Revaluation of tangible fixed assets 25,000 - Net movement in funds (28,709) 5,760 Reconciliation of funds Total funds brought forward - as restated 1,004,336 11,062 Total funds carried forward 975,627 16,822	Total Total as restated 2022 2021 £ £ 27,828 218,753 806,455 807,459 1,830 396 1,495 4,552 837,608 1,031,160 2,891 12,088 860,632 626,428 32,489 276,305 896,012 914,821 10,455 60,852 (47,949) 177,191 - - (47,949) 177,191 25,000 25,000 (22,949) 202,191 1,015,398 813,207 992,449 1,015,398	Total Total as restated 2022 2021 £ £ 27,828 218,753 806,455 807,459 1,830 396 1,495 4,552 837,608 1,031,160 2,891 12,088 860,632 626,428 32,489 276,305 896,012 914,821 10,455 60,852 (47,949) 177,191 - - (47,949) 177,191 25,000 25,000 (22,949) 202,191 1,015,398 813,207 992,449 1,015,398
		1,031,160
		12,088 626,428 276,305
		914,821
		60,852
		177,191 -
		177,191 25,000
		202,191 813,207
		1,015,398

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

• 12 -

GLEBE HOUSE (CHARNWOOD) LIMITED

BALANCE SHEET

AS AT 31 MARCH 2022

Notes Fixed assets Tangible assets 15 Investments 16 Current assets Debtors 17 Cash at bank and in hand Creditors: amounts falling due within one year 18 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 19 Provisions for liabilities 20 Total net assets Charity funds Restricted funds 24 Unrestricted funds: General funds Revaluation reserve 25 Total charity funds	2022 £ £ 411,227 245,804 657,031 78,336 413,844 492,180 (57,174) 435,006 1,092,037 (5,658) (93,930) 992,449 16,822 791,181 184,446 975,627 992,449	2021 as restated £ £ 382,482 236,905 619,387 113,019 439,463 552,482 (62,541) 489,941 1,109,328 - (93,930) 1,015,398 11,062 844,890 159,446 1,004,336 1,015,398

The financial statements were approved and authorised by the board of trustees on 14 October 2022 and are signed on its behalf by:

Mr N Chiragh (Honorary Treasurer) Trustee

Company Registration No. 02724141

The notes on pages 15 - 30 form part of these financial statements.

• 13 -

GLEBE HOUSE (CHARNWOOD) LIMITED

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MARCH 2022

Notes Cash flows from operating activities Cash (absorbed by)/generated from operations 29 Investing activities Purchase of tangible fixed assets Proceeds on disposal of tangible fixed assets Purchase of investments Proceeds on disposal of investments Investment income received Net cash (used in)/generated from investing activities Financing activities New finance leases Net cash generated from/(used in) financing activities Net (decrease)/increase in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year	2022 £ (19,725) - - 1,556 1,495 7,445	£ (16,390) (16,674) 7,445 (25,619) 439,463 413,844	2021 £ (4,746) 999 (28,604) 37,213 4,552 -	£ 148,015 9,414 -
				157,429 282,034
				439,463

• 14 -

GLEBE HOUSE (CHARNWOOD) LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

1 Accounting policies

Charity information

Glebe House (Charnwood) Limited is a private company limited by guarantee incorporated in England and Wales. The registered office and place of business is given in the legal and administrative information page of these financial statements.

1.1 Basis of preparation

The charity is a public benefit entity as defined by FRS 102. These financial statements have been prepared in accordance with: the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland ("FRS 102"), Accounting and Reporting by Charities: the Statement of Recommended Practice for charities applying FRS 102 (2019), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold property and to include certain financial instruments at fair value. The principal accounting policies adopted are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have 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 charity for particular purposes. The cost 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.

1.4 Income recognition

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured with reliability. If entitlement is not met, then the amounts are deferred.

Income from charitable activities includes income received from local authorities for the provision of services to adults and children with learning disabilities and/or autism. Income from these categories is recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured with reliability. If entitlement is not met, then the amounts are deferred.

• 15 -

GLEBE HOUSE (CHARNWOOD) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

1 Accounting policies

(Continued)

Investment income is earned through holding assets for investment purposes. It comprises bank interest and is recognised on an accruals basis.

1.5 Expenditure recognition

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs relating to the category. Expenditure is recognised when there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. It is recognised under the following headings:

• Costs of raising funds - includes fundraising and investment management costs.

• Expenditure on charitable activities - includes staff and associated costs to further the delivery of the objectives of the charity.

• Other expenditure - includes staff costs covered by income from the coronavirus job retention scheme.

1.6 Support costs

Support costs are those that assist the work of the charity but do not directly represent charitable activities and costs of raising funds and include office costs, governance costs and administrative payroll costs. They are incurred directly in support of expenditure in line with the objectives of the charity. Support costs are allocated to costs of raising funds and expenditure on charitable activities on a basis consistent with use of the resources.

The analysis of these costs is included in note 10.

1.7 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold property	Not depreciated
Freehold property improv'ts	10% straight line
Leasehold improvements	10% straight line
Fixtures and fittings	25% straight line
Motor vehicles	25% reducing balance

Freehold property whose fair value can be measured reliably is held under the revaluation model and is carried at a revalued amount, being the fair value at the date of valuation less any subsequent accumulated impairment losses. The fair value of the land and buildings is usually considered to be the market value.

1.8 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year.

• 16 -

GLEBE HOUSE (CHARNWOOD) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

1 Accounting policies

(Continued)

1.9 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset, or the asset’s cash generating unit, is estimated and compared to the carrying amount in order to determine the extent of the impairment loss (if any). Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in the Statement of Financial Activities (SOFA) unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

1.10 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less.

1.11 Financial instruments

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Debtors and creditors with no stated interest rate and receivable or payable within one year are measured at transaction price. Any losses arising from impairment are recognised in the SOFA.

1.12 Provisions

Provisions are recognised when the charity has a legal or constructive present obligation as a result of a past event, it is probable that the charity will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

1.13 Employee benefits

When employees have rendered service to the charity, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination payments are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.14 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.15 Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to net income/(expenditure) for the year so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged as an expense on a straight line basis over the term of the relevant lease.

• 17 -

GLEBE HOUSE (CHARNWOOD) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

1 Accounting policies

(Continued)

1.16 Taxation

Glebe House (Charnwood) Limited is a registered charity and no taxation provision is required as its income from charitable activities falls within the various exemptions available to registered charities.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Valuation of freehold property

The valuation of freehold property is reassessed annually by the trustees and, when necessary, amended to reflect current estimates.

3 Income from donations and legacies

Unrestricted Restricted funds funds 2022 2022 £ £ Donations 536 700 Grants 16,092 10,500 16,628 11,200	Total Unrestricted Restricted funds funds 2022 2021 2021 £ £ £ 1,236 1,793 - 26,592 216,210 750 27,828 218,003 750	Total 2021 £ 1,793 216,960
		218,753

4 Income from charitable activities

Unrestricted Restricted funds funds 2022 2022 £ £ Adult Services 679,758 - Children's Services 71,496 - Weekend and Short Breaks 55,201 - 806,455 -	Total Unrestricted Restricted funds funds 2022 2021 2021 £ £ £ 679,758 734,668 - 71,496 72,791 - 55,201 - - 806,455 807,459 -	Total 2021 £ 734,668 72,791 -
		807,459

• 18 -

GLEBE HOUSE (CHARNWOOD) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

5 Income from other trading activities

Unrestricted Restricted funds funds 2022 2022 £ £ Fundraising events 979 - Fees - - Letting and licensing arrangements 495 - Work skills project sales 356 - 1,830 - Income from investments Unrestricted Restricted funds funds 2022 2022 £ £ Income from listed investments - - Interest receivable 1,495 - 1,495 - Expenditure on raising funds Unrestricted Restricted funds funds 2022 2022 £ £ Fundraising costs 1,335 - Investment management 1,556 - 2,891 -		Total Unrestricted Restricted funds funds 2022 2021 2021 £ £ £ 979 - - - 100 - 495 - - 356 296 - 1,830 396 - Total Unrestricted Restricted funds funds 2022 2021 2021 £ £ £ - 2,071 - 1,495 2,481 - 1,495 4,552 - Total Unrestricted Restricted funds funds 2022 2021 2021 £ £ £ 1,335 1,408 - 1,556 10,680 - 2,891 12,088 -	Total 2021 £ - 100 - 296
			396
			Total 2021 £ 2,071 2,481
			4,552
			Total 2021 £ 1,408 10,680
			12,088

6 Income from investments

7 Expenditure on raising funds

• 19 -

GLEBE HOUSE (CHARNWOOD) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

8 Expenditure on charitable activities

Activities undertaken directly Note 9 £ Adult Services 506,402 Children's Services 68,304 Weekend and Short Breaks 46,168 620,874 Unrestricted funds Restricted funds	Support Costs Note 10 £ 201,291 22,642 15,825 239,758	Total 2022 £ 707,693 90,946 61,993 860,632 859,613 1,019 860,632	Total 2021 £ 527,997 87,811 10,620
			626,428
			625,373 1,055
			626,428

9 Expenditure on activities undertaken directly

Adult Services Children's Services Weekend and Short Breaks £ £ £ Staff costs 486,518 61,703 43,762 Activities 1,476 1,482 2,380 Room Hire 7,104 2,973 - Mileage (897) 133 26 Workshop Costs 12,201 - - Accomodation - 2,013 - 506,402 68,304 46,168	Total 2022 £ 591,983 5,338 10,077 (738) 12,201 2,013 620,874	Total 2021 £ 367,302 1,178 9,827 (2,363) 10,703 2,013
		388,660

• 20 -

GLEBE HOUSE (CHARNWOOD) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

10 Expenditure on support costs

Staff costs Depreciation & loss on disposal Other staff costs Household costs Premises costs Insurance Motor and travel Printing, postage and stationery Computer and telephone costs Legal and professional costs Repairs and maintenance Other costs Analysed between: Charitable activities	2022 £ 116,678 15,980 10,695 7,540 28,847 6,789 11,332 4,373 8,864 16,237 9,482 2,941 239,758 239,758	2021 £ 129,393 15,333 5,053 9,670 26,578 6,892 6,422 4,216 6,472 12,177 11,741 3,821
		237,768
		237,768

Support costs have been allocated to activities on a relevant basis to the nature of the underlying costs in proportion to resources used. Support costs include governance costs totalling £7,203 (2021: £3,764).

Governance costs includes payments to the auditors of £5,700 (2021- £4,750) for audit fees.

11 Other expenditure

	Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
	funds	funds		funds	funds
	2022	2022	2022	2021	2021	2021
	£	£	£	£	£	£
Wages	32,489	-	32,489	276,305	-	276,305

12 Net gains/(losses) on investments

Unrestricted Restricted funds funds 2022 2022 £ £ Revaluation of investments 10,840 - Gain/(loss) on sale of investments (385) - 10,455 -	Total Unrestricted Restricted funds funds 2022 2021 2021 £ £ £ 10,840 54,983 - (385) 5,869 - 10,455 60,852 -	Total 2021 £ 54,983 5,869
		60,852

• 21 -

GLEBE HOUSE (CHARNWOOD) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

13 Trustees

None of the trustees received nor waived any remuneration or benefits or reimbursements from the charity during the year, or in the previous year.

14 Employees

The average monthly number of employees during the year was:

The average monthly number of employees during the year was:
Total Employment costs Wages and salaries Social security costs Other pension costs Termination payments	2022 Number 67 2022 £ 682,238 38,886 16,099 3,927 741,150	2021 Number 63
		2021 £ 707,604 40,439 17,653 -
		765,696

There were no employees whose annual remuneration was more than £60,000.

• 22 -

GLEBE HOUSE (CHARNWOOD) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

15 Tangible fixed assets

Freehold property Freehold property improv'ts Leasehold improvements Fixtures and fittings Motor vehicles £ £ £ £ £ Cost or valuation At 1 April 2021 340,000 7,146 15,056 33,528 60,530 Additions - - 2,220 17,005 500 Disposals - - - (2,571) - Revaluation 25,000 - - - - At 31 March 2022 365,000 7,146 17,276 47,962 61,030 Depreciation and impairment At 1 April 2021 - 2,157 5,636 16,914 49,071 Depreciation charged in the year - 1,787 1,562 10,073 2,558 Eliminated in respect of disposals - - - (2,571) - At 31 March 2022 - 3,944 7,198 24,416 51,629 Carrying amount At 31 March 2022 365,000 3,202 10,078 23,546 9,401 At 31 March 2021 340,000 4,989 9,420 16,614 11,459

Total £ 456,260 19,725 (2,571) 25,000 498,414 73,778 15,980 (2,571) 87,187 411,227 382,482

Freehold property was revalued on 25 May 2022 by Alexanders, independent valuers not connected with the charity, on the basis of market value. The valuation conforms to International Valuation Standards and was based on recent market transactions on arm's length terms for similar properties.

At 31 March 2022, had the revalued assets been carried at historic cost less accumulated depreciation and accumulated impairment losses, their carrying amount would have been approximately £180,554 (2021 - £180,554).

• 23 -

GLEBE HOUSE (CHARNWOOD) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

16 Fixed asset investments

Cost or valuation At 1 April 2021 Unrealised gain/(losses) Movement in cash awaiting investment Disposals At 31 March 2022 Carrying amount At 31 March 2022 At 31 March 2021 17 Debtors Amounts falling due within one year: Trade debtors Other debtors Prepayments and accrued income 18 Creditors: amounts falling due within one year Notes Obligations under finance leases 21 Other taxation and social security Trade creditors Other creditors Accruals and deferred income 19 Creditors: amounts falling due after more than one year Notes Obligations under finance leases 21

Listed investments £ 236,905 10,840 494 (2,435) 245,804 245,804 236,905 2022 2021 £ £ 59,317 88,038 1,128 14,774 17,891 10,207 78,336 113,019 2022 2021 as restated £ £ 1,787 - 8,923 6,827 4,968 6,288 7,021 9,762 34,475 39,664 57,174 62,541 2022 2021 £ £ 5,658 -

• 24 -

GLEBE HOUSE (CHARNWOOD) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

20 Provisions for liabilities Dilapidation provision Movements on provisions: At 1 April 2021 and 31 March 2022 21 Finance lease commitments Future minimum lease payments due under finance leases: Within one year Within two and five years	2022 2021 £ £ 93,930 93,930 Dilapidation provision £ 93,930 2022 2021 £ £ 1,787 - 5,658 - 7,445 -	2021 £ 93,930
		2021 £ - -
		-

The charity has leased a Quality Compliance System. The lease term is 5 years with and is on a fixed repayment basis.

22 Operating lease commitments

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Within one year Between two and five years	2022 £ 25,209 470 25,679	2021 £ 18,518 1,098
		19,616

Lease payments totalling £18,518 (2021 - £7,706) have been recognised as an expense during the year.

23 Retirement benefit schemes

Defined contribution schemes

The charity operates a defined contribution pension scheme for all qualifying employees.

The charge to the SOFA in respect of defined contribution schemes was £16,099 (2021 - £17,653). This expenditure has been allocated to support costs and unrestricted general funds.

• 25 -

GLEBE HOUSE (CHARNWOOD) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

24 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

		Movement in funds	Movement in funds	Movement in funds
	Balance at	Incoming	Resources		Transfers	Balance at
	1 April 2021	resources	expended			31 March 2022
	as restated
	£	£		£	£	£
Capital grants - short breaks for
Charnwood borough council	1,062	-		(237)	-	825
Loughborough Greenfields	-	700		(700)	-	-
National Lottery Community
Fund	10,000	-		-	-	10,000
BFSS grant	-	7,500		(82)	(4,421)	2,997
SHIRE Community grant	-	3,000		-	-	3,000
	11,062	11,200	(1,019)		(4,421)	16,822
		Movement in funds
	Balance at	Incoming	Resources		Transfers	Balance at
	1 April 2020	resources	expended			31 March 2021
	as restated					as restated
	£	£		£	£	£
Capital grants - short breaks for
Charnwood borough council	1,367	-		(305)	-	1,062
Social club	-	750		(750)	-	-
National Lottery Community
Fund	10,000	-		-	-	10,000
	11,367	750	(1,055)		-	11,062

• 26 -

GLEBE HOUSE (CHARNWOOD) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

24 Restricted funds

(Continued)

Capital grants – Short Breaks for Charnwood Borough Council

This fund is represented by fixed assets, and relates to a grant to provide a Vauxhall Zafira vehicle for the use of Glebe House.

Loughborough Greenfields Sports and Social Club

This fund relates to a donation towards the costs of running the Youth Club.

National Lottery Community Fund

This fund is represented by cash, and relates to a grant towards the purchase of a wheelchair adapted vehicle.

BFSS

This fund is represented by cash and relates to a grant towards the purchase of sensory equipment. Transfers have been made from restricted funds into unrestricted funds to transfer the value of fixed assets purchased where the restriction has lapsed.

SHIRE Community Grant.

This fund is represented by cash, and relates to a grant toward the purchase of a wheelchair adapted vehicle.

25 Unrestricted funds

The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:

			Movement	in funds
	Balance at	Incoming	Resources	Transfers	Revaluations,	Balance at
	1 April 2021	resources	expended		gains and	31 March 2022
	as restated				losses
	£	£	£	£	£	£
General funds	844,890	826,408	(894,993)	4,421	10,455	791,181
Revaluation
reserve	159,446	-	-	-	25,000	184,446
	1,004,336	826,408	(894,993)	4,421	(9,545)	930,627
			Movement	in funds
	Balance at	Incoming	Resources	Transfers	Revaluations,	Balance at
	1 April 2020	resources	expended		gains and	31 March 2021
	as restated				losses	as restated
	£	£	£	£	£	£
General funds	667,394	1,030,410	(913,766)	-	60,852	844,890
Revaluation
reserve	134,446	-	-	-	25,000	159,446
	801,840	1,030,410	(913,766)	-	85,852	1,004,336

• 27 -

GLEBE HOUSE (CHARNWOOD) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

26 Analysis of net assets between funds

Unrestricted funds Restricted funds 2022 2022 £ £ Fund balances at 31 March 2022 are represented by: Tangible assets 410,402 825 Investments 245,804 - Current assets/(liabilities) 419,009 15,997 Long term liabilities (5,658) - Provisions (93,930) - 975,627 16,822 Unrestricted funds Restricted funds 2021 2021 £ £ Fund balances at 31 March 2021 are represented by: Tangible assets 381,420 1,062 Investments 236,905 - Current assets/(liabilities) 479,941 10,000 Provisions (93,930) - 1,004,336 11,062

Total 2022 £ 411,227 245,804 435,006 (5,658) (93,930) 992,449 Total 2021 £ 382,482 236,905 489,941 (93,930) 1,015,398

27 Related party transactions

During the year, M Nicholls-Sykes, the daughter of Mrs L Nicholls-Sykes, was paid £442 (2021 - £1,817) for her services as an employee.

There were no other disclosable related party transactions during the year (2021 - none).

28 Contingent liabilities

There exists a contingent liability for £102,755 in respect of a claim made by Leicestershire County Council ('The Council'). In March 2013 the charity vacated premises owned by the council. In January 2014 the council made a claim for £95,000 based on the assumption of the work required and estimated costs in respect of dilapidations. The charity instructed surveyors to carry out a survey of the building, however the council let the building and carried out the work before an independent survey could be carried out. This is not in accordance with the Royal Institute of Chartered Surveyors protocols. The anticipated costs of £95,000 were provided for in the accounts for the year ended 31 March 2013. In February 2015, the council made a revised claim on a costs incurred basis for £197,755. The charity has requested further information from the council but none has been forthcoming. Based on the advice of an independent surveyor the difference in the two claims relates to building works necessary for statutory compliance which cannot be claimed as dilapidations.

Following the advice received the trustees consider that no additional provision is necessary.

• 28 -

GLEBE HOUSE (CHARNWOOD) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

29	Cash generated from operations		2022	2021
			£	£
	(Deficit)/surpus for the year		(47,949)	177,191
	Adjustments for:
	Investment income recognised in statement of financial activities		(1,495)	(4,552)
	(Gain)/loss on disposal of tangible fixed assets		-	1,179
	Loss/(gain) on disposal of investments		385	(5,869)
	Fair value gains and losses on investments		(10,840)	(54,983)
	Depreciation and impairment of tangible fixed assets		15,980	14,153
	Movements in working capital:
	Decrease in debtors		34,683	909
	(Decrease) in creditors		(7,154)	(73,943)
	(Decrease) in provisions		-	93,930
	Cash (absorbed by)/generated from operations		(16,390)	148,015
30	Analysis of changes in net funds
		At 1 April	Cash flows	At 31 March
		2021		2022
		£	£	£
	Cash at bank and in hand	439,463	(25,619)	413,844
	Obligations under finance leases	-	(7,445)	(7,445)
		439,463	(33,064)	406,399

• 29 -

GLEBE HOUSE (CHARNWOOD) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

31 Prior period adjustment

The prior period adjustment relates to a restatement of the previously reported statement of financial activities and balance sheet figures in relation to:

1) grant income totalling £10,000 that should have been released from deferred income and recognised in the statement of financial activities as restricted income in the year to 31 March 2020, and

2) a holiday pay accrual totalling £15,805 that should have been recognised on the balance sheet as at 31 March 2020, plus the increase in this accrual of £11,600 in the year to 31 March 2021.

3) revaluation gains on freehold property totalling £20,000 at 31 March 2020 and £25,000 at 31 March 2021.

The comparative figures, have been adjusted as follows:

Changes to the balance sheet

Changes to the balance sheet
	At	31 March 2021
	As previously	Adjustment	As restated
	reported
	£	£	£
Fixed assets
Tangible assets	337,482	45,000	382,482
Creditors due within one year
Accruals and deferred income	(116,189)	(17,405)	(133,594)
Funds
Restricted funds	1,062	10,000	11,062
Unrestricted funds - revaluation reserve	114,446	45,000	159,446
Unrestricted funds - general funds	872,295	(27,405)	844,890
Total	987,803	27,595	1,015,398

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