2021-03-31-accounts - Plus (Providence Linc United Services)

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Contents	Contents			Page no.
Cl	Reference and Administrative		details
0	Objects and Values
Ct	Structure, Governance	and Management
	- Induction ofTrustees
	- Consultation with Service Users
	- Employee Consultation
Cl	Impact Report
	- Public Benefit
Cf	Strategic Report
	-Achievements in 2020-21
	—Business Aims for 2021-22
	- Financial Review
	- Risk Management
	- Review of Reserves
	—Remuneration
Cf	Investment Policy			18
	Trustees' Responsibilities			21
Cf	Independent Auditor's	Report		23
Ct	Statement of Financial Activities			29
Cf	Balance Sheet			30
Ct	Statement of Cash Flows			31
Cf	Notes forming part ofthe financial statements			32 - 43

					Restricted	Unrestricted	Totalpunds	Totalpunds
					Funds	Funds	2021	2020
Statement ofFinancial Activities			Note		E	E		E
Income and endowments
Investment income						42,759	42,759	64,929
Charitable activities
Care &Support			3		59,377	5,021,486	5,080,863	4,540,191
Housing &Rental			3			46,623
Total income
Expenditure
Costofraising funds
Investment manager		fees
				)		31,890	31,890	31,518
Charitable activities
Care &Support					36,084	4,722,072	4,758,156	4,438,992
Housing &Rental
Total expenditure			4		36084	5047382	5,083,466	4 853981
Net operating expenditure					23,293	63,485	86,778	(200,943)
Net gains/(losses) on	investmentassets
Net income /(expenditure)					23,293	1,079,551	1,102,844	(545,801)
Other recognised gains and losses
Gains on revaluation	of	fixed assets	10			370526	370,526
					23,293	1,450,077	1,473,370	(545,801)
Reconciliation offunds
Funds brought forward	at 1April 2020							~766111
Funds carried forward	at	31March 2021						6 746 616

PLUS	Fo	r the		yea	r	e	nded 31s	tMarch 2021
									2021	2020
									6	E
Cash flow/(outflow) from	operating		activities
Net cash(used in)/ provided	by operating			activities
Cash flows from investing	activities
Investment income and interest		received							42,759	64,929
Proceeds from disposal offixed		asset		investments					2,074,517	670,334
Acquisition offixed asset	investmsnts								(1,878,439)	(710,796)
Payments to acquire tangible fixed assets									(21,578)	(119,332)
Payments to acquire intangible		fixed		assets
Net cash flows from investing actidties
Net decrease in cash and	cash	equivalents							180,335	(297,181)
Cash and cash equihelents	at beginning			ofyear
Cash and cash equivalents	at end ofyear
Reconciliation ofnet incomel (expenditure)						to	net cash flow from operating		activities
									2021	2020
									E	E
Net incomel(expenditure)	including			endowments					1,102,844	(545,801)
Adjustments for:
Net losses/(gains) on investments									(1,016,066)	344,858
Amortisation charge									616	951
Depreciation charge									74,277	66,850
Investment income									(42,759)	(64,929)
(Increase)/decrease in debtors									(238,171)	50,112
(Decrease)/Increase in creditors									82,334	(54,357)
Net cash (used in)l provided by		operating			activities
Net debt
							01-Apr	Cash flows	Other	31-Mar
Cash at bank and in hand							918,667

	the be	st estimate of fair value at the balance	sheet date.
2	Investment	Income	2021	2020
			B	E
	Bank interest		143	4,139
	Investment	income	42,615	60,790
			42,759	64,929
	Income from Charitable
3	Activities			2021

			Restricted	Unrestricted	Total
			6	8	6
London	Borough of	Lewisham		3,746,049	3,746,049
London	Borough of	Southwark		867,485	867,485
London	Borough of	Croydon		38,637	38,637
London	Borough of	Sutton		110,820	110,820
Lewisham Supporting People
Team
Direct Charges Outreach
Other income				17,898	17,898
Direct Charges leisure
Tenant	charges			46,623	46,623
Housing	Assocation	charges		906	906
NHS Lambeth				154,312	154,312
Other grants				40,608	40,608
COVID	FUND		59,377	44,772	104,149
			59.577		5.» . 55
					2020
			Restricted	Unrestricted	Total
			6	6	6
London	Borough of	Lewisham		3,267,925	3,267,925
London	Borough of	Southwark		1,019,046	1,019,046
London	Borough of	Croydon		39,170	39,170
London	Borough of	Sutton		142,124	142,124
Lewisham Supporting people				559	559
Team
Direct Charges Outreach				44,036	44,036
Other income				9,503	9,503
Direct Charges leisure				16,922	16,922
Tenant	charges			47,918	47,918
Housing	Assocation	charges		906	906
				4,588,109	4,588,109

Total Expenditure
	Care &	Housing			2021
	Support	&Rental	Governance	Central costs	Total
	E			E	E
Staffsalaries	3,695,046			228,805	3,923,852
Covi d sa Ia ry costs	36,084				36,084
Agencystaff	402,674				402,674
CSV, trave I a nd sundry expe nd itu re	580			332	912
Food and provisions	62,936			4,740	67,676
Propertyexpenditure	35,127	158,181		91,478	284,786
Housing Assoc charges		60,571			60,571
Day services &Art Therapy	169				169
Legal and professional	13,502			32,686	46,188
Audit and consultancy			11,700	193	11,893
Support costs	61,870	35,523		119,378	216,771
Tote I direct costs 4,307,988 eu,		254,276 ,	11,700 ~ll 7D0	477,613	5,051,577

Total Expenditure
		Care &	Housing			2020
		Support	&Rental	Governance	Central costs	Total
		E		E	E	E
Staff salaries		3,259,931			175,510	3,435,441
Agencystaff		551,255			15,276	566,531
CSV, trave I a nd sundry	expe	3,324			1,143	4,467
Food and provisions		58,112			3,884	61,996
propertyexpenditure		29,547	269,430		69,686	368,663
Housing Assoc charges			60,070			60,070
Dayservices &Art Therapy		21,986				21,986
Legal and professional		21,108			72,477	93,585
Audit and consultancy				10,800		10,800
Support costs		93,097	36,852		68,975	198,924
Total direct costs		4,038,360	366,352	10,800	406,951	4,822,463
Eu
Total resources expended:		4438,992	~383471

5	Net Incoming Resour	ces for the	Year
					2021	2020f
	This is stated afier charging/(crediting):
	Auditors' remuneration				11,700	10,800
	Auditors' remuneration	- prior year	(over)/under	provision		4,514
	Auditors' remuneration	-accounting	senices			2,568
	Amortisation				616	951
	Depreciation				74,277	66,850
	Operating lease rentals	- property			78,750	78,750
	Operating lease rentals	- other			2,495	3,833
6	Staff Salaries and Numbers				2021	2020
					f	f
	Staif emoluments during	the year:
	Salaries and wages				3,529,153	3,117,647
	Pension costs				76,242	66,368
	Total emoluments				3,605,395	3,184,015
	Social security costs				304,048	251,427
	Total stair costs				3,999,414	3,435,442

Average weekly
Operational Senices	97	93
Central Senices	18	21
Bank stafi	66	61
	191	115

					Computer	Computer
					Software	Software
					2021	2020
Cost					6	6
At 1st April	2020				12,841	12,840
Accumulated Amortisation
At 1st April	2020				12,155	11,204
Charge for	the year				616	951
At 31st March 2021					12,771	12,155
Net Book	Value
At 31st March 2021					76	686
At 31st March 2020					686	1,668
Tangible	Fixed Assets
		Freehold	Furniture
		Land and	and	Motor	Computer
CostIMarket Value		Buildingsf	Equipment 6	Vehicle	Equipment 5	Total E
At 1st April	2020	1,394,474	400,414	36,994	21,731	1,853,613
Additions			21,578			21,578
Disposal			(14,060)			(14,060)
Reeluation		370,526				370,526
At 31st March 2021		1,765,000	407,932	36,994	21,731	2,231,657
Accumulated Depreciation
At 1st April	2020		259,282	8,551	19,146	286,979
Charge for	the year		62,444	9,249	2,585	74,277
Eliminated	on disposal		(14,060)			(14,060)
At 31st March 2021			307,666	17,799	21,731	347,197
Net Book	Value
At 31st March 2021		1,765,000	100,266	19,195	767	1,884,466
At 31st March 2020		1,394,474	141,132	28,443	2,584	1,566,634


Fixed Asset Investments					2021	2020
					8	6
UK Quoted investments
Market value at 1st April					3,472,670	3,777,066
Purchases					1,878,439	710,796
Proceeds on disposals					(2,074,517)	(670,334)
Net realised investment gain	/	(loss)			238,170	(69,313)
Net unrealised investment gain		/ (loss)			712,078	(275,545)
Market value at 31st March					4,226,839	3,472,670
Properties
Market value at 1st April 2020
Unrealised gain					1,059,181	500,000
					65,819	559,181
					1,125,000	1,059,181
Total Investments at 31 March					5,351,839	4,531,851
Geographical Analysis
United Kingdom investments					3,300,716	2,492,622
Overseas Investments					3,176,125	2,039,229
					6,476,671
Investment Assets comprising		over 57% ofthe	portfolio:
					2021	2020
Vanguard S+P 500 ETF-GBP-Dis					308,394	237,613
iShares FTSE100Index Fund	ETF GBP					228,720
JO Hambro UK Equity Income		Accumulation	Units	I		231,478
UBS ETF-MSCI EMU UCITS	ETF GBP
William Blair US SM Gwt J43BP-Drs					243,996
Trolan Income Fund -X-GBP-inc.					216,740
Robeco BP Global Premium	Equities				251.180
Market value at 31st March						66,6

12	Debtors			2021	2020
				f	f
	Trade debtors			258,010	147,237
	Prepayments	and accrued income		204,954	83,073
	Other debtors			1D,3DD	4 783
				473,284	235,393
13	Creditors: Amounts		falling due	2021	2020
	within one year			E	F.
	Trade creditors			146,305	72,695
	Taxation &social security			89,679	69,081
	Accruals and	other	creditors	358 96	370,835
				594,948	512,611

						Land and Buildings	Land and Buildings	Other Operating	Leases
						2021	2020	2021	2020
						f	E	f	f
Operating	lease		which	expires;
Less than	1	year				78,750	78,750	2,495	3,833
Between two and five				years		315,000	315,000	9,989
Over five years						457,124	536,250
						850,874	930,000	12,484	3,833
At the reporting			data the charity		had outstanding minimum		future	receipts from non-
cancellable		operating		lease, which fall		due as follows:
								2021	2020
								E	E
Falling due:
Less than	1	year						9454	14,714

												Restricted	Restricted	Designated	Designated	General
													Funds		Funds	Funds		Tots I
													f		8	8
Intangible fixed assets															70			70
Tangible fixed	assets														1,884,460			1,884,460
Investments															2,029,600	3,322,238	5,351,838
Current assets													99,624			1,472,642		1,572,266
Creditors																(594,948)		(594,948)
Total Assets less		Current			liabilities								99,624		3,913,990	4,199,932	8,213,68tr
Fund balances	at	31st		March 2020 are				represented		by:
												Restricted		Designated		General
													Funds 8		Funds	Fundsf		Tots I 8
Intangible fixed	assets														685			685
Tangible fixed assets															1,566,633		1,566,633
Investments															1,800,446	2,731,404	4,531,850
Current assets													76,331			1,077,429	1,153,760
Creditors																(512,612)		(512,612)
Tots I Assets less		Current			liabilities								76,331		3,367,764	3,296,221	6,740,316
Restricted Funds
The restricted	funds		of the		company		comprise		the following		unexpended		balances		of donations and grants			held on
trust to be applied		for	specific purposes.					'
										Balance		Movement in		Resources:		Transfers		Balance
										01.04.20 8		Incoming 8			Outgoing 8	f		31.03.21 8
a) Carers respite senice (Southwark							8	Lewisham)		76,331								76,331
												59,377			(36,084)			23,293
b) Infection Pmvention				& Control		and	LFD Testing			Fund
										76,331		59,377			(36,084)			99,624
										Balance		Movement in		Resources:		Transfe rs		Balanca
										01.04.19		Incoming		Outgoingf		8		31.03.20 8
a) Carers respite senice (Southwark							&	Lewisham)		76,331								76,331
										76,331								76,331

				Balance	Movement	Movement	in resources	lnvesbnent		Balance
				01.04.20 f	Incoming	6	Outgoing 8	Gains 6	Transfem 6	31.03.21 6
	Designated Funds
a)	Capital fund			1,434,047					(53,314)	1,380,733
b)	Reurluation resene	-2069		1,192,452					436,345	1,628,797
c)	Property management		fund 2038	77,107			(9,847)		18,500	85,760
d)	Detnlopment fund -	Property -2076		268,443			(1,814)		165,734	432,363
e)	Detnlopment fund -	Semess -2075		189,322						189,322
f)	Voids fund - 2070			186,277						186,277
g)	Soaal fund 2071			11,766			(900)		(128)	10,738
h)	Rowntree fund -2067			8,350					(8,350)
	Total Designated Funds			3,367,764			(12,561)		558,787	3,913,990
	General Funds			3,296,221	5,110,867		(5,034,821)	1,386,592	(558,787)	4,200,072
	Tots I Unrestricted	Funds		6,663,985	5,110,867		(5,047,382)	1,386,592		8,114,062
				Balance	Movement		in resources	investment		Balance
				01 04 19 6	Incoming	f	Outgoing 6	Gains 6	Transfs m 6	31.03.20f
	Designated Funds
a)	Capital fund			1,434,656					(609)	1,434,047
b)	Reurluation resene	-2069		1,192,452						1,192,452
c)	Property management		fund 2038	107,070			(49,983)		20,000	77,107
d)	Deinlopment fund -	Property -2076		105,295			(36,852)		200,000	268,443
e)	Deinlopment fund -	Senices -2075		182,102			(3,780)		11,000	189,322
f)	Voids fund - 2070			215,277			(29,000)			186,277
g)	Social fund 2071			12,381			(615)			11,766
h)	Rowntree fund -2067			8,350						8,350
	Total Designated Funds			3,257,583			(120,210)		230,391	3,367,764
	GeneralFunds			3,952,203	4,653,038		(4,733,771)	(344,858)	(230,391)	3,296,221
	Total Unrestricted	Funds		7,209,786	4,653,038		(4 853,981)	(344,858)		6,663,985