**Charity Registration No. 1029448**
**Company Registration No. 02733012 (England and Wales)**
# **STROUD COURT COMMUNITY TRUST LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **STROUD COURT COMMUNITY TRUST LIMITED**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 7|
|Statement of Trustees' responsibilities|8|
|Independent auditor's report|9 - 12|
|Statement of financial activities|13|
|Balance sheet|14|
|Statement of cash flows|15|
|Notes to the financial statements|16 - 33|
## **STROUD COURT COMMUNITY TRUST LIMITED**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 MARCH 2021**_
The Trustees present their report and financial statements for the year ended 31 March 2021.
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 Trust's Memorandum and Articles of Association, the Companies Act 2006 and "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) (effective 1 January 2019)".
## **Objectives and activities**
## **Objects and aims**
The objects and aims of the Trust is to provide welfare services to resident and non-resident autistic adults .
## **Objectives, strategies and activities**
The Trust via its Chief Executive and senior management team monitors, evaluates and where appropriate adopts new approaches and interventions as and when required. When vacancies arise the Trust assesses potential candidates in line with the admissions policy and procedure and determines whether services and support can be delivered to that individual as required.
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Trust should undertake.
## **Public benefit**
The Trust is established for the provision of welfare and care services to autistic adults . This is primarily achieved through care of autistic adults through registered care homes.
The Trustees have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the aims and objectives and in planning future activities.
Services provided in care facilities are expensive. The funding capacity would be outside the scope of all but a very few families. However, those fees are almost invariably fully paid, directly or indirectly, by the State. The Trustees confirm that they have complied with the requirements of section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
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## **STROUD COURT COMMUNITY TRUST LIMITED**
## **TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 MARCH 2021**_
## **Achievements and performance**
The Trust continued to deliver services during the financial period 2020-21 in line with significant restrictions and requirements imposed in response to the Covid-19 pandemic. The longer term impact of the pandemic is yet to be determined, however, the Trust is grateful for and acknowledges the flexibility, commitment, and dedication of all staff, families, and trustees in ensuring client safety and wellbeing was prioritised and maintained so effectively.
During the year the Trust provided care for 3 4 full-time residents. It has updated several of its policies in line with current regulations and best practice requirements.
The Trust has continued to review, and where possible improve, the terms and conditions of employment for staff in order to attract and retain sufficient numbers of high quality individuals.
The Trust recognises that environmental factors have a significant impact on the well being of all clients, and has determined to improve the quality of all accommodation across site in line with improved autism understanding and best evidence-based practice. This is a long term commitment requiring a long term fund raising strategy. The nature of long term fund raising is that it is not restricted to financial periods. The trustees believe the overall performance year on year to be satisfactory.
The fundraising performance is considered satisfactory as in addition to donations received, a total of £ 177 , 52 0 has been secured from trust funds towards development costs.
In responding to the changing requirements and expectations of potential new clients and commissioners, the Trust continues to revise its Development Plan to take account of the growing need to provide personalised and individualised single person accommodation within its range of services. The first two of these individualised single person facilities is now fully operational, and a further two a re nearing completion with an expected opening date early in 2021. This enables the Trust to support additional clients within effective, efficient, person-centred environments.
## Volunteers
The organisation is grateful for the ongoing support by volunteers from The Rotary Club of Nailsworth, who continue to offer support for horticultural projects despite continuing restrictions due to the ongoing Covid-19 pandemic.
Details of donations received are shown in note 3 to the accounts.
The Trust has limited investments which were placed on short term deposit without taking significant risk. The fund is retained to protect against unforeseen operating circumstances and for use in the ongoing development.
The Trust provides long term residential care and as such seeks to fill any vacancy arising as soon as possible with a suitable individual. Quality of care with financial stability are key measures. In addition to independent assessments, key performance indicators are employee absence rates and staff turnover.
In common with other organisations in the care sector recruitment remains a significant challenge. This is an area in which the trustees and management team have and continue to take positive actions. On a positive note, once employed, retention rates remain high.
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## **STROUD COURT COMMUNITY TRUST LIMITED**
## **TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 MARCH 2021**_
## **Consideration of the impact of Coronavirus**
At the date of these accounts 31 March 2021 there had been little impact from Coronavirus on the Trust. Since that time the Trust has taken extensive steps to keep Stroud Court free from Covid 19. Part of the impact has been to restrict access from the outside and keep residents on site. The extensive facilities available at Stroud Court, including over 17 acres of secure grounds, have been invaluable in helping to maintain activities and provide outdoor access to all of our clients. Where possible the use of agency staff has been curtailed to ensure only known members of staff are on site, and staff movement between residential facilities has been minimised. Many staff have supported us by not taking leave - the impact of this will be delayed as we will need to make suitable arrangements towards the end of the year to allow staff to take adequate time off to recoup and recover from the stresses of the adjusted working practices necessary to protect clients and colleagues.
The potential financial impact is loss of income should a resident die however and current government restrictions on new admissions complicates the transition planning necessary to make new placements. We do not anticipate this to be a significant risk at this time however as the management team maintain an ongoing system of identifying and processing potential new clients and are currently aware of 12 likely candidates should a placement become available. The actual financial impact so far has been increased costs relating to personal protective equipment and sanitising products. Some Local Authorities have provided additional income to cover the additional costs. Given the strong financial status of the Trust no immediate impact on the ability to maintain service delivery and remain financially viable is anticipated.
The impact on fund raising from trusts for ongoing development work is that, inevitably, some trusts have turned their focus away from capital projects to provide more immediate help as a response to Coronavirus. Despite this, some capital funds have been secured.
## **Going concern**
In response to the covid pandemic, the Trust has exercised caution in its expenditure and focussed its attention on activities essential to the safe operation of the service. Additional costs related to covid-19 have been considered in preparing the 2021-22 budget. Costs incurred on infection control measures have been recovered in full through central government covid-19 relief schemes. The national impact of the covid pandemic will lead to further pressure on public spending in 2021-22 and beyond, and this will limit the ability of local government to fund services to the required level. We are confident however, given the specialised nature of the services at Stroud Court, that demand for placements will remain high and therefore future revenue streams will not be compromised.
We acknowledge the historic but increasing difficulties with recruitment faced by all adult social care sector providers and have reviewed and adjusted our recruitment and retention strategy accordingly
## **Financial review**
## **Policy on reserves**
Reserves are set aside to provide financial stability and to support long term strategic aims of the Trust. The Trustees have identified two levels of reserves as being necessary.
The Trustees consider it prudent that unrestricted reserves should be sufficient to cover short term working capital. £ 700 ,000 will be retained in line with Stroud Court Community Trust's Reserves Policy Statement to cover three months operational activity.
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## **STROUD COURT COMMUNITY TRUST LIMITED**
## **TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 MARCH 2021**_
## **Principal funding sources**
Fees are obtained from local authorities and primary care trusts. Fees are used to fund the day to day operations of the Trust. The Trust does not allocate donations to operational costs but always seeks to recover in full the cost of services from statutory purchasers. Donations and other income are used to enhance the quality of life of clients by providing funding for specific equipment, capital items and services that are not normally recoverable through fees.
The present level of funding and assets held are adequate to support the continuation of the Trust and the Trustees consider the financial position of the charity to be satisfactory.
## **Financial instruments**
## **Objectives and policies**
The Charity's activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity’s policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes.
## **Major risks and management of those risks**
Operations and finance
The Trustees have assessed the major risks to which the Trust is exposed, in particular those related to the operations and finances of the Trust and are satisfied that systems and procedures are in place to manage exposure to the major risks. A report is produced each year of the major risks, what the implications maybe, whether it is significant and who is responsible for m onitoring it.
## _**Credit risk**_
The Charity’s principal financial assets are bank balances and cash, trade and other receivables, and investments.
The Charity’s credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows.
The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies.
The Charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers.
## _**Liquidity risk**_
In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the Charity uses a mixture of long-term and short-term debt finance. Further details regarding liquidity risk can be found in the Statement of accounting policies in the financial statements.
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## **STROUD COURT COMMUNITY TRUST LIMITED**
## **TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 MARCH 2021**_
## **Structure, governance and management**
## **Nature of governing document**
The charity is controlled by its governing document, a deed of trust, and constitutes a charitable company, limited by guarantee, as defined by the Companies Act 2006.
The Trust is registered as a charitable company limited by guarantee and was constituted under a Memorandum of Association dated 21 July 1992, and is a registered charity number 1029448. Also the company is regulated under the Health and Social Care Act 2008 (Regulated Activities) Regulations 2014 and the Care Quality Commission (Registration) Regulations 2009.
The principal object of the Trust is to provide welfare services to resident and non-resident people with autistic spectrum conditions . Work is undertaken by the Chief Executive and the management team to enhance and develop the care environment that has been established during the past twenty eight years.
There have been no changes in the objectives since the last annual report.
The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Mrs J.W. Lusty Mr A.D E. Bateson Mrs V.J. Fenwick Mr G Slade Mrs J Lewis (Resigned 7 December 2020) Mr P Cadle Mrs M Bruton-Cox Mrs E. Blundell Mrs B Derrett
## **Recruitment and appointment of Trustees**
The management of the Trust is the responsibility of the Trustees who are elected and co-opted under the terms of the Memorandum and Articles of Association.
The Memorandum states that one third of the Trustees are required to retire by rotation. This year J. Lusty, P. Cadle and M. Bruton-Cox retire and will offer themselves for re-election depending on support from at least two members of the remaining trustees.
None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
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## **STROUD COURT COMMUNITY TRUST LIMITED**
## **TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 MARCH 2021**_
## **Organisational structure**
The charity is organised so that the Trustees and management team meet regularly to manage its affairs. In total there are nine Trustee positions , fourteen administration staff, t wo household staff and four maintenance staff. All the remaining employees work directly with service users to fulfil the charity's objectives.
The day-to-day management of the charity is delegated to C Atkins (Chief Executive), S Barnard (Registered Manager), A Palmer (Facilities Manager). S Timbrell (Care Coordinator) and R Staines (Financial Controller).
Trustees set and monitor the strategic aims whilst the senior management team (SMT) carry out the day to day operations. The trustees formally meet quarterly to review and assess performance. The SMT, in addition to daily activity, meet monthly to review and assess matters.
## **Induction and training of trustees**
The Trust works in partnership with the National Autistic Society and follows their guidelines for the induction and training of Trustees.
## **Key management personnel remuneration**
Remuneration is set in accordance with market rates.
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STROUD COURT COMMUNITY TRUST LIMITED
TRUSTEES, REPORT (CONTINUED){INCLUDING DIRECTORS, REPORT)
FOR THE YEAR ENDED 31 MARCH 2021
Audltor
The auditors, Burton Sw88t Bristol, will be proposed for appointment at the annual general meeliry.
The Directors, report has been prepared in a(xordance wlh the special provisions relating lo small eompanies
hin Part t5 of the Compar*ies AGt 20(.
Dl$elosur• of Inforniatlon to audltor
Each of the Trustees has confimied that there is no information of which they are aware which is relevant lo
the audrt, bul of which the auditor is unaware. They have further confirnied th* they have taken appropriate
steps to iijentify such ielevant information and to establish that the auditor is aware of such information.
The Trustees, report was approved by the Board of Trustees.
Mrs
J. Fenwlck
Trustee
Dated.. 9 September 2021
## **STROUD COURT COMMUNITY TRUST LIMITED**
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES**
## _**FOR THE YEAR ENDED 31 MARCH 2021**_
The Trustees, who are also the directors of Stroud Court Community Trust Limited for the purpose 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 which give a true and fair view of the state of affairs of the Trust and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
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 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; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Trust 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 Trust 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 Trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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## **STROUD COURT COMMUNITY TRUST LIMITED**
## **INDEPENDENT AUDITOR'S REPORT**
## **TO THE TRUSTEES OF STROUD COURT COMMUNITY TRUST LIMITED**
## **Opinion**
We have audited the financial statements of Stroud Court Community Trust Limited (the ‘Trust’) for the year ended 31 March 2021 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 2021 and of its incoming resources and application of resources, 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 Trust 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 Trust’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 auditor's 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.
## **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' r eport, which includes the d irectors ' r eport prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the d irectors ' r eport included within the Trustees' r eport has been prepared in accordance with applicable legal requirements.
- 9 -
## **STROUD COURT COMMUNITY TRUST LIMITED**
## **INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF STROUD COURT COMMUNITY TRUST LIMITED**
## **Matters on which we are required to report by exception**
In the light of the knowledge and understanding of the Trust and its environment obtained in the course of the audit, we have not identified material misstatements in the d irectors ' r eport included within the Trustees' r eport.
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 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' r eport and from the requirement to prepare a s trategic r eport.
## **Responsibilities of Trustees**
As explained more fully in the s tatement of Trustees' r esponsibilities, the Trustees, who are also the directors of the Trust 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 Trust’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.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: http s :// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
- 10 -
## **STROUD COURT COMMUNITY TRUST LIMITED**
## **INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF STROUD COURT COMMUNITY TRUST LIMITED**
## **Extent to which the audit was considered capable of detecting irregularities, including fraud**
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.
We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.
In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:
- Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud;
- Reviewing minutes of meetings of those charged with governance;
- Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the entity through enquiry and inspection;
- 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 bias and 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 indicators of potential 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 noncompliance. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
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STROUD COURT cofvrMUNITY TRUST LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF STROUD COURT COMMUNITY TRUST LIMITED
Use of our report
This report Is rriade sole,y Ic the charitable -ompan,y's members 8S 3 body In accordance with C.hapler 3 01 Part
18 of the Compaiiies Act 2J06. OJI aJdi. work has keen undertaken so that we mighl state to the chsritable
company's ry,embers those matters we are reqiiired to stale to thefn In an auditors. report and lor no other
PLJrpose. To the fulleql extent permitle(J ky law. we do not 3ccept gr assume r>sponsibility lo anyone other than
th.e charitable cory.yansr and t.le ch,arilable compaiiy s members as a body for oar 3udil work, lor this report, or
for ihe opinions we have lormee
Mark Handscombe (Senior Ststutory Auditor)
for and on bèhalf of Aiets Audit Service5
Chartered Accountsnts
Statutory Auditor
Pr05ped, House
5 May Lane
Dursley
Gloucestershire
UDiled Kingdom
GL11 4JH
12
## **STROUD COURT COMMUNITY TRUST LIMITED**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 31 MARCH 2021**_
|**Current financial year**
**Unrestricted Unrestricted**
**Restricted**
**funds**
**funds**
**funds**
**general d esignated**
**2021**
**2021**
**2021**
**Notes**
**£**
**£**
**£**
**Income and endowments from:**
Donations and legacies
**3**
958
39,605
57,989
Charitable activities
**4**
3,205,706
-
64,218
Investments
**5**
1,117
-
-
Other income
**6**
1,418
-
-
**Total income**
3,209,199
39,605
122,207
**Expenditure on:**
Raising funds
**7**
26,930
-
-
Charitable activities
**8**
2,826,243
4,905
18,314
**Total resources expended**
2,853,173
4,905
18,314
**Net income for the year/**
**Net incoming resources**
356,026
34,700
103,893
**Net income for the year/**
**Net incoming resources**
356,026
34,700
103,893
**Other recognised gains and losses**
Actuarial (loss)/gain on defined
benefit pension schemes
(1,000)
-
-
**Net movement in funds**
355,026
34,700
103,893
Fund balances at 1 April 2020
1,501,405
426,212
399,170
**Fund balances at 31 March 2021**
1,856,431
460,912
503,063|**Total**
**2021**
**£**
98,552
3,269,924
1,117
1,418
3,371,011
26,930
2,849,462
2,876,392
494,619
494,619
(1,000)
493,619
2,326,787
2,820,406|Total
2020
**£**
23,049
2,768,822
15,157
9,840
2,816,868
26,930
2,755,477
2,782,407
34,461
34,461
343,000
377,461
1,949,326
2,326,787|
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
- 13 -
##
##
##
|||2021||2024|
|---|---|---|---|---|
||Notes||t|f€|
|Fixed assets|||||
|Tangibleassets|13||1,234,943|916,437|
|Current assets|||||
|Debtors|14|108,300||111,136|
|Cash at bank and inhand||1,680,757||1.431 ,731|
|||1,789 057||1,542,867|
|Creditors:amountsfallingduewithin|||||
|oneyear|15|(183594)||(119,517)|
|Netcurrent assets|||1,605,463|1,423,350|
|Total assets lesscurrent liabilities|||2,840,406|2,339,787|
|Creditors:amountsfallingdueafter|||||
|morethanoneyear|16||(160,000)|(160,000)|
|Netassetsexcludingpensionsurplus|||2,680,406|2,179,787|
|Definedbenefitpensionsurplus|17||140,000|147,000|
|Netassets|||2,820,406|2,326,787|
|lncomefunds|||||
|Restricted funds|18||4n?nA?|'Loo17al|
|Unrestricted funds|||||
|Designated funds|19|460,912||426,212|
|General unrestricted funds||1,856,431||1,501,405|
||||2.317,343|1,927,617|
||||2,820,406|2,326,787|
## **STROUD COURT COMMUNITY TRUST LIMITED**
## **STATEMENT OF CASH FLOWS** _**FOR THE YEAR ENDED 31 MARCH 2021**_
|**Notes**
**Cash flows from operating activities**
Cash generated from operations
**24**
**Investing activities**
Purchase of tangible fixed assets
Proceeds on disposal of tangible fixed
assets
Interest received
**Net cash used in investing activities**
**Net cash used in financing activities**
**Net increase/(decrease) in cash and cash**
**equivalents**
Cash and cash equivalents at beginning of year
**Cash and cash equivalents at end of year**|**2021**
**£**
**£**
604,004
(356,295)
200
1,117
(354,978)
-
249,026
1,431,731
1,680,757|**2020**
**£**
**£**
55,210
(78,101)
-
15,157
(62,944)
-
(7,734)
1,439,465
1,431,731|
|---|---|---|
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## **STROUD COURT COMMUNITY TRUST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2021**_
## **1 Accounting policies**
## **Charity information**
Stroud Court Community Trust Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Stroud Court, Longfords, Minchinhampton, Gloucestershire, GL6 9AN, United Kingdom.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the Trust's Memorandum and Articles of Association , the Companies Act 2006 and "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) (effective 1 January 2019)". The Trust is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling , which is the functional currency of the Trust. Monetary a mounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the Trustees have a reasonable expectation that the Trust 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**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes, The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with the specific restrictions i mposed by donors which have been raised by the Charity for particular purposes. The cost o f 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 Incoming resources**
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the Charity has entitlement to the funds, certainty or receipt and the amount can be measured with sufficient reliability.
Donations and legacies are recognised on a receivable basis where there is certainty of receipt and the amount can be reliably measured.
- 16 -
**STROUD COURT COMMUNITY TRUST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2021**_
## **1 Accounting policies**
**(Continued)**
## **1.5 Resources expended**
## **Expenditure**
All expenditure is recognised in the period in which a liability is incurred and has been classified under headings that aggregate all costs relating to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs.
## **Raising funds**
These are costs associated with attracting voluntary income and the costs of trading for fundraising purposes.
## **Charitable activities**
Charitable expenditure comprises those costs incurred by the Charity in the delivery of its activities and services for beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
## **Support costs**
Support costs are those costs incurred in support of expenditure on the objects of the Charity and include project management and governance carried out at headquarters. These have been allocated entirely to the main charitable activity of the Charity.
## **1.6 Tangible fixed assets**
Individual fixed assets costing £1,000 or more are initially recorded at cost and include any incidental expenses of acquisition.
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 land and buildings 2% on cost Furniture and equipment 20% on cost Motor vehicles 25% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.
## **1.7 Impairment of fixed assets**
At each reporting end date, the Trust 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 is estimated in order to determine the extent of the impairment loss (if any ) .
## **1.8 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 twelve months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
- 17 -
**STROUD COURT COMMUNITY TRUST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2021**_
## **1 Accounting policies**
**(Continued)**
## **1.9 Financial instruments**
The Trust has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Trust's balance sheet when the Trust becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the Trust’s contractual obligations expire or are discharged or cancelled.
## **1.10 Employee benefits**
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the Trust is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
- 18 -
**STROUD COURT COMMUNITY TRUST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2021**_
## **1 Accounting policies**
## **(Continued)**
## **1.11 Retirement benefits**
## **Pensions and other post retirement obligations**
The Trust operates a defined contribution pension scheme. Contributions to this scheme are charged to the SOFA in the period in which they become payable.
The Trust operates a defined benefit scheme, which is closed to new members. This scheme is part of the Gloucestershire County Council Pension Fund, which is a multi-employer scheme whereby the Trusts shares of the underlying assets and liabilities are identified at the date of the latest triennial valuation undertaken by the scheme's actuary. The scheme is accounted for as a defined benefit scheme in accordance with FRS 102.
The scheme is funded and the assets are held separately from those of the Trust in separate trustee administered funds. Pension scheme assets are measured at fair value and liabilities are measured on an actuarial basis. The actuarial valuations are obtained triennially and are updated at each balance sheet date. The amounts charged to operating results are the current service costs and gains and losses on settlements and curtailments. They are included as part of staff costs. Past service costs are recognised immediately, the costs are recognised over the period until vesting occurs. The expected return on assets and the interest cost are shown as a net finance amount. Actuarial gains and losses are recognised immediately in other gains and losses.
## **2 Critical accounting estimates and judgements**
In the application of the Trust’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.
The Trustees have applied the actuarial assumptions in accounting for the multi-employer pension scheme.
- 19 -
## **STROUD COURT COMMUNITY TRUST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2021**_
## **3 Donations and legacies**
|**Unrestricted Unrestricted**
**Restricted**
**general**
**funds**
**funds**
**funds d esignated**
**£**
**£**
**£**
Donations and gifts
958
39,605
57,989
**For the year ended 31 March 2020**
2,191
14,042
6,816
**Donations and gifts**
Albert Hunt Trust
-
25,000
-
Screwfix Foundation
-
5,000
-
D'Oyly Carte Charitable Trust
Rowlands Trust
-
2,500
-
The Wolfson Foundation
-
-
50,000
Charles Irving
-
-
-
Langtree Trust
-
-
-
Mayfield Trust
-
-
-
David Thomas Charitable Trust
-
-
-
Other
958
7,105
7,989
958
39,605
57,989
**Legacies receivable**
-
-
-|**Total**
**2021**
**£**
98,552
25,000
5,000
2,500
50,000
-
-
-
-
16,052
98,552
-|**Total**
**2020**
**£**
23,049
23,049
-
-
3,000
-
-
500
750
2,500
5,000
24,318
23,049
-|
|---|---|---|
- 20 -
## **STROUD COURT COMMUNITY TRUST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2021**_
## **4 Charitable activities**
|**2021**
**£**
Fees received
3,024,565
Covid 19 support
245,359
3,269,924
Analysis by fund
Unrestricted funds - general
3,205,706
Restricted funds
64,218
3,269,924
**For the year ended 31 March 2020**
Unrestricted funds - general
Restricted funds
**5**
**Investments**
**Unrestricted**
**funds**
**general**
**2021**
**£**
Interest receivable on bank deposits
1,117
**6**
**Other income**
**Unrestricted**
**funds**
**general**
**2021**
**£**
Net gain on disposal of tangible fixed assets
200
Other income
1,218
1,418|**2020**
**£**
2,768,822
-
2,768,822
2,707,441
61,381
2,768,822
Total
2020
£
15,157
Total
2020
£
-
9,840
9,840|
|---|---|
- 21 -
## **STROUD COURT COMMUNITY TRUST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2021**_
|**7**
**8**|**Raising funds**
Fundraising and publicity
Staff costs
Other trading activities
**Charitable activities**
Staff costs
Food
Resident costs
Medical
Registration fees
Therapists
Agency staff
Training
Welfare
Recruitment
Motor and travel
Legal and professional fees
Interest on defined benefit pension scheme
Expected return on pension scheme assets
Subscriptions and books
Other expenditure - mobility
Share of support costs (see note 9)
Share of governance costs (see note 9)|**2021**
**£**
26,930
-
26,930
**2021**
**£**
2,265,695
89,484
15,173
53,721
5,814
-
28,149
5,151
10,293
1,524
18,847
26,276
77,000
(80,000)
1,406
11,315
2,529,848
309,626
9,988
2,849,462|**2020**
**£**
26,930
-
26,930
**2020**
**£**
2,032,971
95,220
22,747
4,501
5,838
32,097
142,616
22,554
10,902
6,019
21,019
23,823
93,000
(89,000)
1,870
16,191
2,442,368
304,709
8,400
2,755,477|
|---|---|---|---|
- 22 -
## **STROUD COURT COMMUNITY TRUST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2021**_
|**8**
**Charitable activities**
**Analysis by fund - for the year ended 31 March 2021**
Unrestricted funds - general
Unrestricted funds - designated
Restricted funds
**For the year ended 31 March 2020**
Unrestricted funds - general
Unrestricted funds - designated
Restricted funds|**(Continued)**
2,826,243
4,905
18,314
2,849,462
2,721,973
2,364
31,140
2,755,477|
|---|---|
## **9 Support costs**
|Depreciation
Light and heat
Rates and water
Insurance
Maintenance
Household equipment
and furniture
Telephone
Printing, postage and
stationery
Sundry expenses
Cleaning
Garden
Admin fees
Bank charges
Audit and accountancy fees
Analysed between
Charitable activities|**Support**
**costs**
**Governance**
**costs**
**£**
**£**
37,789
-
43,359
-
17,032
-
29,243
-
63,893
-
17,711
-
17,204
-
10,538
-
-
-
31,180
-
14,333
-
27,192
-
152
-
-
9,988
309,626
9,988
309,626
9,988|**2021**
**£**
37,789
43,359
17,032
29,243
63,893
17,711
17,204
10,538
-
31,180
14,333
27,192
152
9,988
319,614
319,614|**2020 Basis of allocation**
**£**
45,552 Estimated usage
46,590 Estimated usage
17,999 Estimated usage
25,651 Estimated usage
71,732 Estimated usage
22,554 Estimated usage
16,221 Estimated usage
9,717 Estimated usage
18 Estimated usage
17,676 Estimated usage
1,695 Estimated usage
27,957 Estimated usage
1,347 Estimated usage
8,400 Governance
313,109
313,109|
|---|---|---|---|
Governance costs includes payments to the auditors of £ 4,000 (2020- £ 3,800 ) for audit fees and £5,988 for non-audit services (2020 - £4,600).
- 23 -
## **STROUD COURT COMMUNITY TRUST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2021**_
## **10 Trustees**
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Trust during the year.
No trustees have received any reimbursed expenses from the charity during the year,
## **11 Employees**
The average monthly number of employees during the year was:
|Administration
Household
Maintenance
Residential/Day care
Total
**Employment costs**
Wages and salaries
Social security costs
Other pension costs
The number of employees whose annual remuneration was £60,000 or
more were:
£60,000 - £70,000
£70,000 - £80,000
£80,000 - £90,000|**2021**
**Number**
14
2
4
50
70
**2021**
**£**
1,992,166
163,939
136,520
2,292,625
**2021**
**Number**
1
-
1|**2020**
**Number**
15
2
4
53
74
**2020**
**£**
1,764,241
138,349
157,311
2,059,901
**2020**
**Number**
-
1
-|
|---|---|---|
## **12 Taxation**
The Charity is a registered charity and is therefore exempt from taxation.
- 24 -
## **STROUD COURT COMMUNITY TRUST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2021**_
|**13**
**Tangible fixed assets**
**Freehold land**
**and buildings**
**Furniture and**
**equipment**
**Motor vehicles**
**£**
**£**
**£**
**Cost**
At 1 April 2020
1,300,863
393,596
151,638
Additions
339,800
-
16,495
Disposals
-
-
(14,949)
At 31 March 2021
1,640,663
393,596
153,184
**Depreciation and impairment**
At 1 April 2020
414,279
384,574
130,807
Depreciation charged in the year
24,955
3,669
9,165
Eliminated in respect of disposals
-
-
(14,949)
At 31 March 2021
439,234
388,243
125,023
**Carrying amount**
At 31 March 2021
1,201,429
5,353
28,161
At 31 March 2020
886,584
9,022
20,831
**14**
**Debtors**
**2021**
**Amounts falling due within one year:**
**£**
Trade debtors
18,788
Other debtors
13,317
Prepayments and accrued income
76,195
108,300
**15**
**Creditors: amounts falling due within one year**
**2021**
**£**
Other taxation and social security
42,907
Trade creditors
49,570
Other creditors
574
Accruals and deferred income
90,543
183,594|**Total**
**£**
1,846,097
356,295
(14,949)
2,187,443
929,660
37,789
(14,949)
952,500
1,234,943
916,437
**2020**
**£**
72,928
12,483
25,725
111,136
**2020**
**£**
-
46,185
2,396
70,936
119,517|
|---|---|
Accruals and deferred income includes £15,716 in respect of deferred income (2020 - £651).
- 25 -
## **STROUD COURT COMMUNITY TRUST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2021**_
## **16 Creditors: amounts falling due after more than one year**
||**2021**|**2020**|
|---|---|---|
||**£**|**£**|
|Other creditors|160,000|160,000|
## **Other loans after five years**
By an agreement dated 5 August 1982, the Secretary of State for Health agreed that if, and so long as, Stroud Court is occupied and used by the Trust for the purposes of a residential community for autistic people, the Secretary of State will not require the Trust to repay the £160,000 loan and interest covenanted to be paid secured by way of a second charge on the property, Stroud Court, dated 5 August 1982.
It is considered by the Board that the property will remain a residential community for autistic people for the foreseeable future. The estimated interest accrued at 31 March 2021, for which no provision has been made in the financial statements as a result, amounted to £464,000 (2020 - £460,000).
The aggregate amount of debts, at the balance sheet date, in respect of which security has been given by the company is as shown above. The deferred loan is secured against the freehold property as described above.
## **17 Retirement benefit schemes**
The Trust operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the Trust in an independently administered fund.
## **Defined benefit schemes**
The Trust operates a funded defined benefit pension scheme, which is now closed to new members. the Trust also operates a defined contribution pension scheme. The assets of both schemes are held independently of the Trust.
The defined benefit scheme is part of the Gloucestershire County Council Pension Fund, which is a multiemployer scheme whereby the Trust's share of the underlying assets and liabilities are identified by the scheme actuary at the date of each triennial valuation.
The LPGS is a funded defined-benefit scheme, with the assets held in separate trustee-administered funds. The total contribution made for the year ended 31 March 20 21 was £ 99 ,000 (20 20 - £ 87 ,000), of which employer's contributions totalled £ 79 ,000 (20 20 - £ 69 ,000 ) and employee's contributions totalled £ 20 ,000 (20 20 - £ 18 ,000)
Contributions payable to the scheme at the end of the year are Nil (20 20 - Nil). The total employer contributions in the next year are expected to be £ 79 ,000
## _Key assumptions_
|_Key assumptions_|||
|---|---|---|
||**2021**|**2020**|
||**%**|**%**|
|Discount rate|2.0|2.30|
|Expected rate of increase of pensions in payment|2.85|1.90|
|Expected rate of salary increases|3.15|2.20|
- 26 -
## **STROUD COURT COMMUNITY TRUST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2021**_
## **17 Retirement benefit schemes**
## **(Continued)**
## _Mortality assumptions_
|T he assumed life expectations on retirement at age 65 are:|||
|---|---|---|
||**2021**|**2020**|
||**Years**|**Years**|
|Retiring today|||
|- Males|22|22|
|- Females|24|24|
|Retiring in 20 years|||
|- Males|23|22|
|- Females|26|25|
|Amounts recognised in the profit and loss account:|||
||**2021**|**2020**|
||**£**|**£**|
|Current service cost|88,000|101,000|
|Net interest on defined benefit liability/(asset)|(3,000)|4,000|
|Other costs and income|-|9,000|
|Total costs|85,000|114,000|
|Amounts taken to other comprehensive income:|||
||**2021**|**2020**|
||**£**|**£**|
|Actual return on scheme assets|(928,000)|204,000|
|Less: calculated interest element|80,000|89,000|
|Return on scheme assets excluding interest income|(848,000)|293,000|
|Actuarial changes related to obligations|849,000|(636,000)|
|The amounts included in the balance sheet arising from the Trust's|||
|obligations in respect of defined benefit plans are as follows:|||
||**2021**|**2020**|
||**£**|**£**|
|Present value of defined benefit obligations|4,280,000|3,352,000|
|Fair value of plan assets|(4,420,000)|(3,499,000)|
|Surplus in scheme|(140,000)|(147,000)|
- 27 -
## **STROUD COURT COMMUNITY TRUST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2021**_
## **17 Retirement benefit schemes**
**(Continued)**
Movements in the present value of defined benefit obligations:
|Liabilities at 1 April 2020
Current service cost
Benefits paid
Contributions from scheme members
Actuarial gains and losses
Interest cost
At 31 March 2021|**2021**
**£**
3,352,000
88,000
(106,000)
20,000
849,000
77,000
4,280,000|
|---|---|
Movements in the fair value of plan assets:
|Fair value of assets at 1 April 2020
Interest income
Return on plan assets (excluding amounts included in net interest)
Benefits paid
Contributions by the employer
Contributions by scheme members
At 31 March 2021|**2021**
**£**
3,499,000
80,000
848,000
(106,000)
79,000
20,000
4,420,000|
|---|---|
The fair value of plan assets at the reporting period end was as follows:
|Equity instruments
Debt instruments
Property
Cash and cash equivalents|**2021**
**£**
2,961,400
972,400
353,600
132,600
4,420,000|**2020**
**£**
2,239,360
909,740
314,910
34,990
3,499,000|
|---|---|---|
- 28 -
**STROUD COURT COMMUNITY TRUST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2021**_
## **18 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**|**Movement in funds**|||
|---|---|---|---|---|---|---|---|---|
||**Balance at**|**Incoming**|**Resources**|**Balance at**|**Incoming**|**Resources**||**Balance at**|
||**1 April 2019**|**resources**|**expended**|**1 April 2020**|**resources**|**expended**|
**31**|**March 2021**|
||**£**|**£**|**£**|**£**|**£**|**£**||**£**|
|Mobility|170,590|61,381|(17,649)|214,322|64,218|(15,690)||262,850|
|The Quality|||||||||
|Care appeal|125,159|3,020|-|128,179|52,775|-||180,954|
|Other|||||||||
|restricted|||||||||
|funds|60,768|3,796|(10,760)|53,804|5,214|(759)||58,259|
|Pool light and|||||||||
|sound|||||||||
|system|2,596|-|(1,731)|865|-|(865)||-|
|Interactive|||||||||
|projector|3,000|-|(1,000)|2,000|-|(1,000)||1,000|
||362,113|68,197|(31,140)|399,170|122,207|(18,314)||503,063|
The Mobility fund represents income received from residents to pay for their travel and trip c osts.
The Quality Care appeal represents income raised in order to carry out redevelopment work to buildings and grounds.
Other restricted funds are donations received in order to purchase equipment or provide s upport to the residents of Stroud Court.
The pool light and sound system fund represents the grant received specifically to purchase equipment for the pool.
The interactive projector fund represents the grant received specifically to purchase the interactive projector.
- 29 -
## **STROUD COURT COMMUNITY TRUST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2021**_
## **19 Designated 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:
|**Balance at**
**1 April 2019**
**£**
Development fund
403,311
Flatlets development fund
-
Other designated funds
4,127
Wellbeing and opportunities fund
7,096
414,534|**Movement in funds**
**Movement in funds**
**Incoming**
**resources**
**Resources**
**expended**
**Transfers**
**Balance at**
**1 April 2020**
**Incoming**
**resources**
**Resources**
**expended**
**Balance at**
**31 March 2021**
**£**
**£**
**£**
**£**
**£**
**£**
**£**
-
-
(200,000)
203,311
-
-
203,311
5,000
-
200,000
205,000
32,500
-
237,500
-
-
-
4,127
-
-
4,127
9,042
(2,364)
-
13,774
7,105
(4,905)
15,974
14,042
(2,364)
-
426,212
39,605
(4,905)
460,912|
|---|---|
The development fund represents monies raised through events and donations specifically for capital improvements to the facility and in support of the ten year development plan to transform Stroud Court into a future proof specialist centre with thirty nine full time residential places.
During the previous year, it was agreed that £200,000 from the development fund would be allocated to the Flatlets development fund. During the year ended 31st March 2021, a further £32,500 was raised.
Other designated funds represent unrestricted donations received which have been set aside by the Trustees for particular purposes.
The wellbeing and opportunities fund represents the collection of smaller donations, which are then used specifically to benefit the clients.
- 30 -
## **STROUD COURT COMMUNITY TRUST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2021**_
|**20**
**Analysis of net assets between funds**
**General**
**funds**
**Development**
**(including**
**Flatlets)**
**designated**
**fund**
**Other**
**designated**
**funds**
**Restricted**
**funds**
**2021**
**2021**
**2021**
**2021**
**£**
**£**
**£**
**£**
Fund balances at 31
March 2021 are
represented by:
Tangible assets
833,215
369,529
-
32,199
Current assets/
(liabilities)
1,043,216
71,282
20,101
470,864
Long term liabilities
(160,000)
-
-
-
Provisionsand
pensions
140,000
-
-
-
1,856,431
440,811
20,101
503,063|**Total**
**2021**
**£**
1,234,943
1,605,463
(160,000)
140,000
2,820,406|General
funds
Development
(including
Flatlets)
designated
fund
Other
designated
funds
2020
2020
2020
£
£
£
893,734
-
-
620,671
408,311
17,901
(160,000)
-
-
147,000
-
-
1,501,405
408,311
17,901|Restricted
funds
2020
£
22,703
376,467
-
-
399,170|Total
2020
£
916,437
1,423,350
(160,000)
147,000
2,326,787|
|---|---|---|---|---|
- 31 -
## **STROUD COURT COMMUNITY TRUST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2021**_
## **21 Charity status**
The Charity is a Company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the Company in the event of liquidation.
## **22 Capital commitments**
At the balance sheet date the Trust had contracted to spend £46,505 on property development.
## **23 Related party transactions**
## **Remuneration of key management personnel**
The remuneration and benefits of key management personnel is as follows.
||**2021**|**2020**|
|---|---|---|
||**£**|**£**|
|Aggregate compensation|384,166|353,747|
## **Transactions with related parties**
During the year the Trust entered into the following transactions with related parties:
## **Michael Pain**
During the year the Charity was invoiced £11,765 inclusive of VAT (20 20 : £11,765) for consultancy work carried out by Amber Business Services Limited, a company in which Michael Pain is a director. At the balance sheet date the amount due Michael Pain was £Nil (20 20 - £Nil).
During the year, the following Trustees had relatives who were clients at Stroud Court:
J.W. Lusty A.D.E. Bateson G. Slade M. Bruton Cox
P. Cadle
- 32 -
## **STROUD COURT COMMUNITY TRUST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2021**_
|**24**
**Cash generated from operations**
Surplus for the year
Adjustments for:
Investment income recognised in statement of financial activities
Gain on disposal of tangible fixed assets
Depreciation and impairment of tangible fixed assets
Difference between pension charge and cash contributions
Movements in working capital:
Decrease/(increase) in debtors
Increase/(decrease) in creditors
**Cash generated from operations**
25
**Analysis of changes in net funds**
The Trust had no debt during the year.|**2021**
**£**
494,619
(1,117)
(200)
37,789
6,000
2,836
64,077
604,004|**2020**
**£**
34,461
(15,157)
-
45,552
45,000
(16,847)
(37,799)
55,210|
|---|---|---|
- 33 -