2021-03-31-accounts - Adferiad Recovery Limited

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				Page
A message from the Chief		Executive
Report ofthe Trustees			2	to	13
Report ofthe Independent		Auditors	14	to	16
Statement ofFinancial	Activities			17
Balance Sheet				18
Notes to the Financial	Statements		19	to	32

						2021	2020
				Unrestricted	Restncted	Total	Total
				funds	funds	funds	funds
			Notes	f	f.	f	6
INCOME	AND ENDOWMENTS FROM
Donations	and legacies		2	6,626		6,626	23,757
Charitable	activities		4
Community	Services			6~7,084		6487,084	6,337,819
Residential	Services			3,385,742	5,738	3391,480	3,582,492
Investment income Other income			3	(9,268) ~184 32		(9v268) 184432	(4,752)
Total				9,954416	5,738	9,960,254	9,939,316
EXPENDITTIRE ON
Charitable	activities
General
Community	Services			5,662,794		5,662,794	5,879,569
Residential	Services			4,006,419	10,163	4,016,582	3,857,820
Governance				170,038		170,038	146,301
Total				9,839451	10,163	9,849,414	9,883,690
NET INCOME/(EXPENDITURE)				I I5v265	(4,425)	110,840	55,626
Other recognised gains/(losses)
Actuarial gains on defined benefit schemes				49,000		49,000	103,000
Net movement in funds				164465	(4,425)	159,840	158,626
RECONCILIATION		OF FUNDS
Total funds	brought	forward		891,165	340,415	1,231,580	1,072,954
TOTAL FUNDS CARRIED FORWARD				1,055,430	335,990	1,391,420	1,231,580

				2021	2020
		Unrestricted	Restricted	Total	Total
		funds	funds	funds	funds
	Notes	f	f		f,
FIXEDASSETS
Tangible assets	12	2,096,653	191,728	2,288,381	2,085,726
Investments	13	2		2	2
		2,096,655	191,728	2,288483	2,085,728
CURRENT ASSETS
Debtors	14	1,627411		1,627,511	1,689,522
Cash at bank		~2370492	144,262	2,514,754	1,425,596
		3,998,003	144462	4,142465	3,115,118
CREDITORS
Amounts falling due within one year	15	(3371416)		(3,371416)	(2,531,866)
NET CURRENT ASSETS		626,787	144462	771,049	583,252
TOTAL ASSETSLESSCURRENT
LIABILITIES		2,723,442	335,990	3,059,432	2,668,980
CREDITORS
Amounts falling due aRer more than one year	16	(867,012)		(867,012)	(890.400)
PROVISIONS FORLIABILITIES	19	(334,000)		(334,000)	(50,000)
PENSION LIABILITY	21	(467,000)		(467,000)	(497,000)
NET ASSETS		1,055,430	~335990	~1,391420	1,231,580
FUNDS	20
Unrestricted funds				1,055,430	891,165
Restricted funds				335,990	340,415
TOTAL FUNDS				1891,420	1.231 580

DONATIONS AND LEGACIES	DONATIONS AND LEGACIES	DONATIONS AND LEGACIES
				2021f	2020 6
Donations				~6626	~23 757
INVESTMENT INCOME
				2021f	2020 f
Investment income				~9468)	(4,752)
INCOME FROM	CHARITABLE ACTIVITKS
				2021	2020
		Activity
Residents Income		Community	Services	439,157	36,186
Other incoming resources		Community	Services	170,820	82,363
Grants &Contracts		Community	Services	5,777,107	6,219,270
Residents Income		Residential	Services	33470	354,11$
Other incoming resources		Residential	Services	1,288,033	1,204,845
Grants &Contracts		Residential	Services	2,070,077	2,023,529
				~9778464	~9,920311
Grants received, included		in the above, are	as follows:
				2021f	2020 f
Welsh Government				185,679	141,412
Probationary/Prison	Services			159,000	$8,452
Local/Unitary Authorities				2,535,055	2,470,545
Health Service				1,877,887	1,943,2$7
WEFO				1,991,055	2,854.584
Other				~1098508	744,519
				7,847,184	~$242 799

	Raising do	nations and legacies
				2021f	2020 f.
6.	CHARITABLE ACTIVITIES COSTS
				Support
			Direct	costs (see
			Costs f	note 7) f	Totals f
	Community	Services	4,864430	798,564	5,662,794
	Residential	Services	3,507,449	509,133	4,016,582
	Governance			170,038	170,038
			8371,679	~1,477735	9W9,414
7.	SUPPORT	COSTS
				Governance
			Management f	costs f	Totals f
	Community	Services	794,784	3,780	798,564
	Residential	Services	506,853	2480	S09,133
	Governance		170,038		170,038
			1,471,675	6,060	1,477,735

2021	2020f
6,060	7,860
64,938	48,316
~184432)

Trustees received reimbu STAFFCOSTS	rsement for expenses incu	rred in the year, which amounted to f	434 (2020f2,257).
		31.321	31.3.20
			f
Wages and salaries		4,799,110	4,559,628
Social security costs		380,082	364,518
Pension costs		165,069	162,371
IAS19pension valuation	adjustment	90	23,000
			.5 7

			2021	2020
Support staff			249	255
Governance	(including	Chief Otyicers)	2	2
			251	257

	The numbe	r ofemployees whose employee benefits (excl	uding employer pension co	sts) exceeded	f60,000was;
				2021	2020
	f70,001 -	680,000		I	1
11.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
			Unrestricted	Restricted	Total
			funds	funds	funds
			f	f	I
	INCOME	AND ENDOWMENTS FROM
	Donations	and legacies	23,757		23,757
	Charitable	activities
	Community	Services	6,337,819		6,337,819
	Residential	Services	3,582,492		3,582,492
	Investment	income	~4,752)		~4,752)
	Total		9,939,316		9,939,316
	EXPENDITURE ON


11.	COMPARATIVES		FOR THE STATEMENT OF FINANCIAL ACTIVITIES -continued
				Unrestricted	Restricted	Total
				funds f	funds f	fundsf
	Charitable activities
	Community Services			5,866,801	12,768	5,879,569
	Residential Services			3,857,820		3,857,820
	Governance			146,301		146,301
	Total			9,870,922	12,768	9,883,690
	NKT INCOME/(EXPENDITURE)			68,394	(12,768)	55,626
	Other recognised	gains/(losses)
	Actuarial gains on	defined henefn schemes		103,000		103,000
	Net movement in	funds		171,394	(12,768)	158,626
	RECONCILIATION		OF FUNDS
	Total funds brought		forward	719,771	353,183	1,072,954
	TOTAL FUNDS	CARRIED FORWARD		891,165	340,415	~I,231 580
12.	TANGIBLE FIXED		ASSETS
			Freehold	Plant and	Motor
			property f	machinery f	vehicles f	Totals
	COST
	At I April 2020		2,193421	559,944	143,013	2,896,278
	Additions Disposals		330471 ~128,772)	2,990 ~369,413)	~27 30)	333,261 ~525515)
	At 31 March 2021		~2394 20	193,521	115,683	~2704,024
	DEPRECIATION
	At I April 2020		253338	428,667	128,547	810,552
	Charge for year Eliminated on disposal		32,939 ~63,104)	20496 ~369,413)	11,703 ~27430)	64,938 ~459S47)
	At 31March 2021		223,173	79450	112,920	415,643
	NKT BOOK VALUE
	At 31March 2021		2,171,647	~113971	~2763	2,288381
	At 31 March 2020		1,939,983	~131277	14,466	2,085,726

Class ofshare:					holding
Ordinary					100
						2021	2020
							f
Aggregate capital and reserves						(90,439)	(96,982)
Profit/(loss) for the	year					6,543	~17,056
The Jigsaw Organisation		Ltd
Registered oAice:
Nature ofbusiness;	Dormant		Company
Class ofshare:					holding
Ordinary					100
DEBTORS
						2021	2020
							f.
Amounts falling due within			one	year:
Operating debtors						566,625	765,864
Amounts owed by intercompany				subsidiary		70,018	70,018
Other debtors						256,073	4,100
Accrued income Prepayments and other debtors						564,043 ~95752	682,332 92,208
						1,552,511	~I,614522

14.	DEBTO		RS - continued
					2021	2020
					f	f
	Amounts		falling due atter more	than one year:
	Amounts		owed by group undertakings		75,000	75,000
	Aggregate		amounts		1,62781I	1,689,522
15.	CREDITORS: AMOIJNTS FALLING DIJEWITHIN ONE YEAR
					2021	2020
					f
	Operating		creditors		265,799	169,434
	Social security and other taxes				96,122	91,377
	Other creditors				119,806	6,824
	Accruals		and deferred income		2,889,489	~2264 231
					3371416	2,531,866
16	CREDITORS: AMOUNTS FALLING DIJEAFTER MORE THAN ONE YEAR
					2021 f	2020 f
	Other loans (see note 17)				583312	600,000
	Defened		income- capital grant		~283800	290,400
					867,012	890,400
	Deferred	income from Wrexham		County Borough Council for the purchase	ofChampions House.
17.	LOANS
	An analysis ofthe maturity ofloans is given below:
					2021	2020
						6
	Amounts	falling due in more than		five years:
	Repayable		by instalments:
	Other loans more 5yrs instal				583412	600,000

							2021	2020
							f	f
Within one year							227,496	246,428
Between one	and five years						481476	~393487
							708,772	639,915
The following	operating	lease payments	are committed	to be paid within one		year:
			Land	& Buildings		Other	Operating	Leases
			31.321 f		31.3.20 f	31.3.21 f		31.3.20 f
Expiring:
Within one year			219,987		233,169		7,509	7,509
Between one	and five years		479917		668 067		1459	4621
			699,904		901,236		8,868	12,129

19.	PROVISIONS FOR LIABILITIES
			2021	2020
	Provisions		~334000	~50 000
20.	MOVEMENT IN FUNDS
			Net
			movement	At
		At 1.4.20	in funds	31.3.21
		f	f	f
	Iinrestricted funds
	General fund	1488,165	134,265	1,522,430
	Pension Fund	~497,000)	30,000	~467,000)
		891,165	164365	1,055,430
	Restricted funds
	SMAT Funded Dawn Centre	46,437	(1,154)	45483
	Community Funded Dawn Centre CAMRE Bursary Fund / APB	151,256 ~142722	(4,811) 1,540	146,445 ~144 62
		340,415	4,425	335,990
	TOTAL FUNDS	1,231,580	159,840	1491,420

Net movement	in funds,	in the above are as follows:
		Incoming	Resources	Gains and	Movement
		resources f	expended f	losses f	in funds f
Unrestricted	funds
General fund Pension Fund		9,973%16 ~19,000)	(92)39351)	49,000	134,265 30,000
		9,9544)6	(9,839,251)	49,000	164,265
Restricted funds
SMAT Funded	Dawn Centre		(1,154)		(1,154)
Community Funded Dawn Centre CAMRE Bursary Fund / APB		5,738	(4,811) ~4198)		(41811) 1,540
		5,738	~10,163		~4425
TOTAL FUNDS		9,960454	~9,849,414)	49,000	~159840

			Net
			movement	At
		At 1.4.19	in funds	31.3.20
		f	f	f
Unrestricted	funds
General fund		1,296,771	91,394	1,388,165
Pension Fund		~577000)	80,000	~497,000
		719,771	171,394	891,165
Restricted funds
SMAT Funded	Dawn Centre	47,591	(1,154)	46,437
Community Funded Dawn Centre CAMRE Bursary Fund / APB		156,067 ~149525	(4,811) ~6,803)	151,256 ~142722
		353,183	12768	340,415
TOTAL FUNDS		1,072,954	158,626	1,231,580

	Incoming	Resources	Gains and	Movement
	resources f.	expended I	losses f	in funds f
Unrestricted funds
General fund Pension Fund	9,962,316 ~23,000)	(9,870,922)	103,000	91,394 80,000
	9,939,316	(9,870,922)	103,000	171,394
Restricted funds
SMAT Funded Dawn Centre		(1,154)		(1,154)
Community Funded Dawn Centre CAMRE Bursary Fund / APB		(4,811) ~6,803)		(4,811) ~6,803)
		~12,768		12,768
TOTAL FUNDS	~9,939316	~9,883,690)	103,000	158,626

		Defined	benefit
		pension	plans
		2021	2020
		6	f.
Present value offunded obligations Fair value ofplan assets		(467,000)	(497,000)
		(467,000)	(497,000)
Present value ofunfunded	obligations
Deficit		(4467,000	~497,000
Net liability		467000	(4497 000

The amounts	recognised in the Statement ofFinancial Activiti	es are as follows:
		Defined	benefit
		pension	plans
		2021	2020
			I,
Current service cost		8,000	9,000
Net interest	from net defined benefit
asset/liability		11,000	14,000
Past service	cost
		19,000	23,000
Actual return	on plan assets

Opening	defined benefit obligation
Current	service cost
Interest	cost
Actuarial	losses/(gains)

Defiaed	benefit
pension	plans
2021	2020
f	f
497,000	577,000
8,000	9,000
11,000	14,000
~49,000	~103,000
~467000	497,000

Defined	Defined	benefit
	pension	plans
2021		2020
f		f
~49	000	103,000
~49	000	~103000

The major	categories ofscheme assets as a percentage ofto	tal scheme assets are as follows:
		Defined	benefit
		pension	plans
		2021	2020
Private Equity		6o/o	6'/o
Real Estate		&o/o	10/0
Investment	Funds &Unit Trusts	ggo/o	83o/o
Cash and Cash Equivalents		I o/o	I'/o
		IPP /o	10P'/o

EMPLO	YEE B	ENEFITOB	LIGAllONS - continued
Principal	actuarial	assumptions	at the Balance Sheet date (expressed as weighted	averages):
				2021	2020
Discount	rate			2.00%	2.30%
Pension	Increase	Rate		285%	1.90%
Salary Increase Rate				3.15%	2.20%

				Sales to	Purchases	Amounts	owed	Amount	owed
				related party	from related	from related		to related
					party		party		party
Entities over which		the group has joint
control or significant		influence
CAIS Social Enterprises			(06354260)
2020				222,088	31,981	122,764
2021				62,601	19,467	38,726
Adferiad	Recovery	(1175085)
2020				56,088		149,030
2021				13,477	33,903