Company registration number: 02868934 Charity registration number: 1040801
## Nottinghamshire Deaf Society
known as
NDS
(A company limited by guarantee) Annual Report and Financial Statements
for the Year Ended 31 March 2021
Community Accounting Plus Units 1 & 2 North West 41 Talbot Street Nottingham NG1 5GL
## **Nottinghamshire Deaf Society**
## **known as NDS**
## **Contents**
|Reference and Administrative Details|1|
|---|---|
|Trustees' Report|2 to 11|
|Independent Examiner's Report|12|
|Statement of Financial Activities|13 to 14|
|Balance Sheet|15 to 16|
|Statement of Cash Flows|17|
|Notes to the Financial Statements|18 to 34|
## **Nottinghamshire Deaf Society**
## **known as NDS**
## **Reference and Administrative Details**
## **Trustees**
**Senior Management Team Registered Office**
**Company Registration Number Charity Registration Number**
Tim Hastings, Chair John Leslie Townend Lindsey Harrison-Grimes Anne Darby Carol Grace Rachel Kolebuk Simon Peacock Kirstin Greenhill Jon Giles, Chief Executive
22 Forest Road West Nottingham NG7 4EQ 02868934
1040801
**Independent Examiner**
John O'Brien, employee of Community Accounting Plus Units 1 & 2 North West 41 Talbot Street Nottingham NG1 5GL
Page 1
## **Nottinghamshire Deaf Society**
## **known as NDS**
## **Trustees' Report**
The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 March 2021.
## **Trustees**
Tim Hastings, Chair
John Leslie Townend
Natalie Sellears (resigned 4 December 2020)
Lindsey Harrison-Grimes
Anne Darby Carol Grace
Rachel Kolebuk
Simon Peacock
Kirstin Greenhill
## **Structure, governance and management**
## _**Nature of governing document**_
Memorandum and Articles of Association incorporated 4 November 1993 as amended 29 September 2010 and registered at Companies House 5 January 2011.
Nottinghamshire Deaf Society is a company limited by guarantee governed by its Memorandum and Articles of Association, as above. The company commenced activities on 1st January 1995. It took over all the assets and activities of the unincorporated Nottingham and Nottinghamshire Society for the Deaf, which had been in existence since 1890. It is registered as a charity with the Charity Commission. Anyone over the age of 18 can become a member of the Company and there are currently 28, each whom agree to contribute £1 in the event of the charity winding up. Each member has one vote and the rights and privileges of members cannot be transferred.
## _**Recruitment and appointment of trustees**_
As set out in the Articles of Association, Directors of the company cannot number less than three, or (unless otherwise determined by a General Meeting) more than ten. The Directors (who are the Trustees of the Charity) shall nominate the Chair of the Directors. The Directors have the power to appoint any person to be a member of the Board of Directors, either to fill a casual vacancy or add to the existing Committee, up to the determined maximum number.
The Board of Directors may therefore wish to co-opt Company Members or other persons who possess the necessary skills and knowledge required by the Board. All co-opted Directors will be subject to nomination and election at the following AGM.
All Company Members are circulated details of retiring Directors and newly-proposed Directors prior to the AGM. Every newly-proposed Director, and every Director seeking re-election, is required to prepare and present information about his or her background, experience and reasons for wanting to be a Director of the Charity.
Page 2
## **Nottinghamshire Deaf Society**
## **known as NDS**
## **Trustees' Report**
## **Objectives and Activities**
Nottinghamshire Deaf Society (NDS) works for the benefit of deaf, deafened and hard of hearing people in the City and County of Nottinghamshire and across the East Midlands region.
Our purpose is to empower people so that their lives are enriched. Our long term vision is for a society in which all deaf people can fully participate.
We do this by providing information, education and insight into hearing loss; by supporting, assisting and encouraging others; by challenging the status quo; by collaborating, engaging and consulting with others and by setting high standards and valuing quality in all we do.
Our main activities which support these aims and provide a public benefit are:
- Provision of a Sign Language Interpreting and Lip-speaking service for deaf people. We support deaf
- • people in day-to-day communications with British Sign Language (BSL)/English interpretation. This is provided through a number of contracts and direct service provision.
- Training in BSL, Deaf Awareness and Lip-reading. By training people in these skills we reduce barriers between hearing and deaf people and enable better communications.
- Maintain links with the deaf community, statutory bodies, other voluntary sector groups and partners in order to network and influence policy and decision makers.
- Raising awareness of issues relating to deafness and hearing loss.
- Provide a deaf-led Welfare Rights Advice and Information service, supporting deaf and hard of hearing people with benefits and welfare issues.
- Offering a volunteer befriending scheme for older deaf people at risk of isolation and loneliness.
- Providing a community space for the deaf people to access social and community groups as well as providing a space for the wider community to access.
- Supporting and enabling community and social groups to grow and flourish.
Services are not unreasonably restricted; and certainly not by ability to pay, as many of our services are commissioned. We deliver services to deaf people funded through commissioned contracts and grants, and through income generated from trading activities and charitable donations.
Our vision for the next five years is that:
By 2025
we will **work with people across the whole age range**
- We will **work with people with every type and experience of deafness** … from mild to profound loss and everything in between
- We will have engaged in **new partnerships** to further our mission and purpose
- We will be able to **expand our work** into the East Midlands
We will continue to **value both voluntary activities and income generation** through provision of services
The trustees have set out a strategic plan for calendar years 2021-2022 with the main objective being recovery and consolidation of the charity after the events of the COVID-19 pandemic and strengthening the position of the charity through partnerships.
Page 3
## **Nottinghamshire Deaf Society**
## **known as NDS**
## **Trustees' Report**
## **Public Benefit**
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.
## **Summary of main achievements during the period**
## **COVID-19 Pandemic**
The onset of a global pandemic at the very beginning of the period caused significant disruption to the charity as it did in wider society.
The restrictions caused by government lockdowns and public health measures forced the charity to operate in a dramatically different way. This meant that all staff were initially working from home and delivering services using remote video technology. Services normally delivered at our building or in the community were suspended initially and only later resumed as lockdown restrictions were lifted.
The pandemic forced us to adopt new working practices and to take a flexible approach to staff many of whom balanced commitments to dependents with their work. The Coronavirus Job Retention Scheme enabled the charity to recover some of the operating expense of the charity by placing some job roles on furlough. These were for individuals who had no work for a period of time because of the pandemic restrictions or because of a temporary loss of activity. No employees were furloughed where their role continued to be funded by public funds. All employees had returned to work by September 2020 although some have been paid using the Flexible Furlough Scheme since that time.
We provided increased levels of video interpreting to Sign Language Interactions. This was initially for the NHS 111 BSL service but latterly to a new BSL Health Access video interpreting service and the NHS 119 Pandemic BSL service. The pandemic forced the adoption of new ways of providing interpreting though video communication technology which we anticipate will enable us to make better use of technology in the future.
Over the year we have adapted to the changing guidance and legislation. In October 2020, in response to the threat of localised lockdown restrictions we resumed BSL training and lip-reading classes using video conferencing technology. This was a useful learning experience which has enabled us to continue to offer BSL teaching at lower and introductory levels. The building was made available for appointments only but remained closed for external room bookings.
Since January 2021, with the imposition of a new national lockdown we suspended activities in our building and have worked through the government timetable for removal of restrictions to gradually restart activity.
We have supported the national COVID-19 vaccination programme by circulating information to deaf people in BSL and working with the Nottingham and Nottinghamshire Clinical Commissioning Group (CCG) to support access for deaf people. This has included training, provision of advice and booking Sign Language interpreters where requested.
The financial projections early in the pandemic were extremely concerning, in common with many charities. As time progressed and different funding became available the situation improved.
We are grateful to the support of the following funders in the period:
- Nottingham City Council Discretionary COVID-19 relief grants: for contributions to cover lost incomethrough closure of the building.
- NETworking.Coronavirus Response Fund: to fund the purchase of additional laptops to support remote
Page 4
## **Nottinghamshire Deaf Society**
## **known as NDS**
## **Trustees' Report**
- National Lottery Coronavirus Community Response Fund: to fund a temporary expansion of the
- - volunteer befriending service and purchase tablet computers to start a loan scheme for isolated deaf people.
- Additional loss of income due to the COVID-19 pandemic.
- Loss or non-renewal of a major grant or contract.
- Increased operating costs due to labour shortages.
As a further measure the Trustees approved the application for a Bounce Back Loan and deferral of VAT payments as permitted by government legislation. These measures were taken to support management of cash flow. The VAT liability will be paid back in line with HMRC requirements.
Following the announcement of further flexible repayment options the charity has extended the loan term to ten years and opted to delay capital repayments until February 2022. This will allow further time to assess the financial position of the charity and, in the meantime, improves the short term free cash reserve position of the charity.
## **Provision of Services and Activities for Deaf People**
NDS provided a wide range of communication support, including BSL/English interpreting and lip-speaking. During 2020/21 we undertook 4,538 face to face and remote communication service assignments. All together we have provided over 11,400 hours of BSL/English interpretation. There were no drop in duty time sessions delivered because of lock down restrictions. We provided an alternate video “duty time” service for deaf people. This replaced the hours normally allocated to a face to face service. Remote video Drop in services were accessed by 46 individuals. Interpreting services were provided to 53 different individuals and organisations through fixed contracts, Access to Work and ad hoc purchasing.
NDS offered training programmes in support of deaf awareness and hearing loss. Our training was provided by deaf tutors, in keeping with our vision of enabling deaf people to participate fully in society. It is also acknowledged that this approach delivers a greater impact to a ‘hearing’ audience. We experienced a dramatic reduction in training activity in the period. In 2020/21 NDS delivered five Deaf Awareness and BSL training sessions to a range of corporate and statutory partners. Many of the courses we had planned for the year were deferred to the current year or were moved to online platforms. We migrated our specialist lip-reading course to an online video platform. During the period we offered six online lip-reading courses across daytime and evening to a total of 23 individual students.
NDS continued to provide BSL courses accredited by Signature (the awarding body for BSL qualifications) to fee paying students. 74 students participated in courses during the year which resulted in an accredited qualification. Due to delays caused by the pandemic none of these were able to take assessments until the summer of 2021. We are pleased to report that we had a 100% pass rate for all assessments attempted which is a fantastic outcome. Given the constraints of the pandemic we were not able to offer our normal programme of introductory or taster sessions. Instead we developed short taster sessions and began a nine week introductory course delivered online.
NDS has a role to facilitate consultation between deaf people and commissioning organisations, representing the views and needs of deaf people on various committees across the City and County of Nottinghamshire. In 2020/21 we predominantly engaged with groups focused on supporting people through the pandemic. We had representation in the year on the following groups: Nottingham Together Board, the Disability Involvement Group and the Childrens’ Hearing Services Working Group.
Page 5
## **Nottinghamshire Deaf Society**
## **known as NDS**
## **Trustees' Report**
NDS is also a founder member of the British Deaf Association BSL Charter Partnership Group, with representatives of all the major local authorities, clinical commissioning groups and the police and fire authorities participating. We remained an associate member of the Nottinghamshire Deaf Wellbeing Action Partnership, a user-led group campaigning for equal access to health services for deaf people.
NDS also engaged with decision makers, particularly in reference to issues created by the pandemic. The primary issue has been the use of opaque face masks/coverings and the additional barriers this creates for those with hearing loss. The limited availability of appropriate alternatives coupled with a lack of awareness around the issues of deafness exacerbated existing barriers for deaf people. Working in consultation with local authority and health partners we have helped to raise awareness of this issue
NDS provided a Deaf Welfare Rights and Information service that is delivered by deaf staff using BSL. This service is funded by contracts from Nottingham City Council, as part of a preventative services contract from the County Council and through grant income. This service has been delivered remotely with staff home working. Latterly we have been able to hold limited face to face appointments for those who cannot access video technology. In 2020/21 we handled 551 cases of support or information provision for 116 individuals.
Due to the pandemic many people have experienced extensions to their benefit claims and appeals and tribunals have been delayed. In monetary terms, NDS supported the return of lump sum and annualised benefit payments totalling £227,090 (of which £27,793 was lump sum benefit payments).
In contrast to normal times we have not operated any social activities from our building. The deaf social groups have either not been permitted to operate or have chosen not to in preference to their members. We would normally expect in the region of 4000 individual visits to the building in a typical year and so it has been a very unusual to not have the building in normal use.
The deaf social groups have used social media and online video platforms to maintain some connection but for many older more isolated deaf people the lack of face to face connection with peers has resulted in significant detriment to their mental health and wellbeing.
We continue to grow our befriending service, supported by our Deaf Community Link Worker through funding from Nottinghamshire County Council. Overall the preventative service supported 99 individuals. Our volunteer befrienders continued to provide support to isolated deaf people largely using video calling and SMS. We trained and supported a team of deaf and hearing volunteers during the year to help us extend our befriending service to the most vulnerable members of the deaf community who can no longer attend sessions at our building.
In addition to the provision of quality services, projects and activities as described above, the Board would like to highlight the following areas of activity:
## **Pilotlight Programme (Weston Charity Awards)**
The Charity had begun engaging with the Pilotlight programme in late 2019 following successful award of a place through the Weston Charity Awards. Prior to the pandemic and at the end of 2019-20, we had set out objectives for this programme focused on developing a new five year strategy. With the onset of the pandemic we reviewed this with the team and determined that a two year window would be more appropriate given the increased uncertainty for the charity.
Over the remainder of the programme the Charity worked with the Pilotlight team to develop the new two year strategy.
Page 6
## **Nottinghamshire Deaf Society**
## **known as NDS**
## **Trustees' Report**
The programme concluded in October 2020. A six month progress review took place in April 2021 to monitor progress and review the programme. The trustees are grateful to the team from Pilotlight for their input and support during the whole programme.
## **Governance**
The board of Trustees continue to meet regularly, supported by two sub groups: One focused on Finance and the second on Risk and Human Resources. A new strategy steering group has recently been formed as a result of the Pilotlight process. The sub groups meet at least quarterly to consider relevant areas in detail in order to report back their recommendations to the board.
The Annual General Meeting was held using video technology in December 2020. It was not possible to hold this in person and so the board resolved to call the meeting using video technology. Despite the additional challenge of providing BSL interpreters in the meeting all company members who attended were able to access the event and a small number of non-members participated via the livestream.
The board would like to attract more deaf Trustees, particularly those who use BSL as their first language. The Board have been engaging with the local deaf community to explain the role of Company membership with the aim of increasing engagement with the Charity and targeting suitable members as potential Trustees.
In January 2021, the trustees reviewed their commitment to the Charity Governance Code. The review found that in nearly all areas the charity is working towards improvement and is showing competence in some areas. An action plan for the calendar year was set with a review due in 2022.
## **Equality and Diversity**
The Trustees are mindful of the events in 2020 which have contributed to a heightened awareness of issues of equality and diversity. NDS remains committed to promoting equality and diversity in its work through employment, volunteering and service provision.
## **Fundraising**
The Charity is very grateful to all of its supporters and funders. In the financial year to March 2021 we received generous grants and donations from the following organisations:
- National Lottery Community Fund (COVID Relief Fund)
- Nottinghamshire Community Foundation (NET COVID relief fund)
- Garfield Weston Foundation
- Nottingham City Council (Discretionary COVID Relief funding)
- Nottinghamshire County Council (Local Improvement Scheme 2019-21)
## **Workforce**
The Board recognises and give thanks for the ongoing work and commitment by the staff team in what was and continues to be a very challenging time. The Charity continues to benefit from the professionalism and expertise present in the staff team. Their willingness to continue to support service users, beneficiaries and the wider community is second to none.
The Trustees would also like to place on record its thanks for the many volunteers who gave their time willingly and freely in support of the deaf community and those with hearing loss during the period.
Page 7
## **Nottinghamshire Deaf Society**
## **known as NDS**
## **Trustees' Report**
## **Financial Review**
## **Financial position at the end of period**
Income for the year was £734,462 (2020: £674,686). Expenditure for the same period was £703,730 (2020: £807,950) giving an operating surplus of £30,732 (2020: (£133,264)). After gains/losses on investment assets and before other recognised gains/losses, the net income for the period was £42,512 (2020: (£154,700)).
Given the impact of the COVID-19 pandemic, income was better than expected compared to the previous year. The main reasons are the support provided by the CJRS, additional grants received and increased income from interpreting services.
Expenditure reduced partly due to savings from the previous year restructure, reduced use of the building and delays to cost of training assessment fees.
## **Investment Policy**
The Trustees have the power to invest in such assets as they see fit. The board have considered the current investments and consider them to be suitable for our current plans and risk profile.
## **Reserves Policy**
This policy should be seen as part of the financial management of the Charity. It forms one of the bases for the budget process. It is not sufficient to leave the level of Reserves to chance. The Charity needs to clarify its needs with regard to Reserves and have a clear policy to ensure those needs are met.
Reserves are required for the following reasons:
- Cash Flow Management: The charity receives income from multiple sources and each has different
- • systems for payment. Funding which is in arrears or simply late, must be covered from Reserves. While the expenditure of the charity is fairly predictable, fluctuations in expenditure may not coincide with fluctuations in income.
- Unexpected expenditure or changes in funding: The Charity is particularly vulnerable to cuts in
- • statutory funding and in variability of service provision. Sudden cuts will leave the Charity with commitments to honour - not least contracts of employment and agreements to provide services.
- To enable Trustees to meet their legal obligations: The lack of sufficient Reserves would indicate the
- • failure of the Trustees of the Charity to honour their duty under charity law to manage the finances of the charity `prudently'.
It is the policy of the Charity that free cash reserves (unrestricted funds which have not been designated or restricted for a specific purpose) should be maintained at a level equivalent to a 50% reduction in total income over a four month period. Based on current projected expenditure this is £115,000.
The Trustees consider that reserves at this level will ensure that in the event of a significant drop in funding they will be able to continue the Charity’s current activities while consideration is given to raising additional funds or reducing expenditure. This is a minimum required level and in the long term the Charity aims to have uncommitted reserves equivalent to between three and six months average expenditure.
At the end of the period the free cash reserves (net current assets plus investments less restricted funds) were £136,697 against a target level of £115,000. (Investments identified in Note 14 to the accounts are accessible within three working days and so are considered cash like.)
Page 8
## **Nottinghamshire Deaf Society**
## **known as NDS**
## **Trustees' Report**
## **Pension Liability**
The pension liability for the Charity is represented by the share of the Nottinghamshire County Council Local Government Pension Scheme (the Scheme) which is a defined benefit pension liability. The Scheme relates to fourteen past and current employees of NDS who qualified to receive a pension from the Scheme. Entry to the Scheme closed in 2002 and as at 31st March 2021, there is one active member, seven pensioners (average age of 70) and six deferred pensioners (average age of 53) who had previously worked for the Charity.
The defined benefit pension liability was last valued at 31st March 2019. The Charity’s liability as at 31st March 2021 was reassessed based on data from the 2019 valuation. The net defined benefit liability at 31st March 2021 is £1.025m (2020: £836,000).
The pension liability continues to be a significant factor in the overall fund position of the Charity. Total funds excluding the pension liability amount to £437,934 (2020: £361,422) but are in deficit by £587,066 (2020: £474,578) after the liability is included.
In 2019 the Board reviewed the risk profile of the Scheme after considering what would happen if there were no longer any Active members of the Scheme. The Charity would not be able to leave the scheme without a substantial cessation cost. Therefore the Board resolved that the Charity should remain in the scheme, continuing the policy of new admissions but ensure that a single active member should remain to avoid this situation. Should the active member leave the scheme a plan is in place to maintain our membership. Otherwise the Board is satisfied that provided the Charity maintains membership of the Scheme the risk to the Charity is limited to the potential increased cost of contributions. The next triannual valuation will be at 31st March 2022. Contributions will not be reviewed before that time.
The charity provides a Defined Contribution scheme for employees who are automatically enrolled in line with the requirements of the auto enrolment workplace pension scheme.
## **Going Concern**
The Board continue to adopt going concern principles in the financial statements.
## **Financial Risks**
After considering the main financial risks to the organisation in the current and future financial years the following are identified:
The Finance Sub-Committee of the board continues to review financial performance and the above risks. Throughout the COVID-19 pandemic, the sub-committee has met more regularly to provide additional support to the CEO and give the wider board confidence that the financial performance is being managed closely.
The Charity retained a comprehensive suite of insurances to cover for all foreseeable eventualities including Business Interruption cover. The widely publicised High Court case brought by the Financial Conduct Authority in September 2020 sought to clarify if the policy wording for one of our policies allowed for a Business Interruption claim due to COVID-19. The finding of the court was that it did not. Following renewal there are new specific exclusions in our Business Interruption cover including pandemics and all communicable diseases.
## **Future performance**
The Board continues to monitor the financial performance and cash position. While there is significant uncertainly about long term financial performance, the security of contracts and reliability of the majority of our income provides a solid foundation.
Page 9
## **Nottinghamshire Deaf Society**
## **known as NDS**
## **Trustees' Report**
The adoption of a new strategic plan for 2021-2022 is focused on financial recovery and consolidation of our current offer so that we have a stronger base to develop from in the longer term.
Based on current assumptions and taking into account funding awarded to date, the projection for the current year shows a break even position in our operating income and expenditure.
## **Plans for the Future**
As a result of the COVID-19 pandemic and the work with Pilotlight, the Board have agreed a new strategic plan for the period 2021-22 calendar years.
The broad themes for the next two years will be:
- 2021: Consolidation of existing income streams, enhancing our service value through technology, staff development and stakeholder engagement
- 2022: Development/Growth of existing services supported by a drive towards partnerships to achieve further integration into a broader offer for deaf people.
The priorities to achieve this will be:
- 1) To provide best in class Sign Language Interpreting and Training services
- 2) To improve and enhance our Monitoring and Evaluation systems to better demonstrate our Impact
- 3) To broaden service offer for deaf and hard of hearing people through partnerships with others
- 4) To broaden the engagement of everyone we work with in our purpose and vision
- 5) To invest more in the development and recognition of our staff and volunteers
## **Risk Management**
The Trustees recognise that the effective achievement of the charity's mission and purpose are linked to a healthy and thorough approach to risk. There are a multitude of risks that the charity faces. We should evaluate and monitor risks, taking action where necessary. If we do not, there will be a negative effect on the success of the charity.
The Trustees are committed to ensuring there is a proper and rigorous risk management process and policy in place.
## **Culture and Structure**
The board of Trustees role is to provide oversight of risk management. The Board should engage in monitoring risk with other key staff members on a regular basis.
The HR and Risk sub-committee works with senior staff to ensure that our risk management processes are effective and we are transparent about the risks we face. We communicate clearly with Trustees and senior staff about the risks we face so that everyone can participate in ensuring risk is managed appropriately.
## **Risk Appetite and Process**
The Trustees prefer to ensure that risks are not left unmanaged or unmonitored. The Trustees are critically aware of the impact of many types of risk and so their appetite for risk on behalf of the organisation is characterised as low.The Trustees have agreed to adopt the standard model as recommended in Charity Commission guidance CC26: Charities and Risk management. Risk assessments are documented in a Risk Management Register and are reviewed annually or sooner if circumstances change.
Page 10
## **Nottinghamshire Deaf Society**
## **known as NDS**
## **Trustees' Report**
## **Statement of Trustees' Responsibilities**
The trustees (who are also the directors of Nottinghamshire Deaf Society for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and 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 charitable company will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and 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.
## **Small companies provision statement**
This report has been prepared in accordance with the small companies regime under the Companies Act 2006.
The annual report was approved by the trustees of the charity on .................... and signed on its behalf by:
......................................... Tim Hastings Trustee
Page 11
## **Nottinghamshire Deaf Society**
## **known as NDS**
## **Independent Examiner's Report to the trustees of Nottinghamshire Deaf Society**
## **Independent examiner’s report to the trustees of Nottinghamshire Deaf Society ('the Company')**
I report to the charity trustees on my examination of the accounts of the company for the year ended 31 March 2021.
## **Responsibilities and basis of report**
As the charity's trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
## **Independent examiner’s statement**
Since the Company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member and Fellow of the Association of Charity Independent Examiners, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
...................................... John O'Brien MSc, FCCA, FCIE, employee of Community Accounting Plus Fellow of the Association of Charity Independent Examiners
Units 1 & 2 North West 41 Talbot Street Nottingham NG1 5GL
Date:.............................
Page 12
## **Nottinghamshire Deaf Society**
## **known as NDS**
## **Statement of Financial Activities for the Year Ended 31 March 2021 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)**
|**Note**
**Income and Endowments from:**
Donations and legacies
2
Charitable activities
3
Other trading activities
5
Investment income
6
Total Income
**Expenditure on:**
Charitable activities
7
Total Expenditure
Gains/losses on investment
assets
Net income/(expenditure)
**Other recognised gains**
**and losses**
Actuarial gains on defined
benefit pension schemes
Net movement in funds
**Reconciliation of funds**
Total funds brought
forward
Total funds carried forward
21|**Unrestricted**
**funds**
**£**
96,762
587,854
3,500
916
689,032
(624,300)
(624,300)
11,780
76,512
-
76,512
358,232
434,744|**Restricted**
**funds**
**£**
-
45,430
-
-
45,430
(45,430)
(45,430)
-
-
-
-
3,190
3,190|**Pension**
**reserve**
**fund**
**£**
-
-
-
-
-
(34,000)
(34,000)
-
(34,000)
(155,000)
(189,000)
(836,000)
(1,025,000)|**Total**
**2021**
**£**
96,762
633,284
3,500
916
734,462
(703,730)
(703,730)
11,780
42,512
(155,000)
(112,488)
(474,578)
(587,066)|**Total**
**2020**
**£**
24,601
612,553
32,490
5,042|
|---|---|---|---|---|---|
||||||674,686|
||||||(807,950)|
||||||(807,950)
(21,436)|
||||||(154,700)
72,000|
||||||(82,700)
(391,878)|
||||||(474,578)|
All of the charity's activities derive from continuing operations during the above two periods.
Page 13
## **Nottinghamshire Deaf Society**
## **known as NDS**
## **Statement of Financial Activities for the Year Ended 31 March 2021 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)**
## **These are the figures for the previous accounting period and are included for comparative purposes**
|**Note**
**Income and Endowments from:**
Donations and legacies
2
Charitable activities
3
Other trading activities
5
Investment income
6
Total Income
**Expenditure on:**
Charitable activities
7
Total Expenditure
Gains/losses on investment
assets
Net expenditure
**Other recognised gains and**
**losses**
Actuarial gains on defined
benefit pension schemes
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward
21|**Unrestricted**
**funds**
**£**
24,601
573,263
32,490
5,042
635,396
(713,043)
(713,043)
(21,436)
(99,083)
-
(99,083)
457,315
358,232|**Restricted**
**funds**
**£**
-
39,290
-
-
39,290
(45,907)
(45,907)
-
(6,617)
-
(6,617)
9,807
3,190|**Pension**
**reserve fund**
**£**
-
-
-
-
-
(49,000)
(49,000)
-
(49,000)
72,000
23,000
(859,000)
(836,000)|**Total**
**2020**
**£**
24,601
612,553
32,490
5,042|
|---|---|---|---|---|
|||||674,686|
|||||(807,950)|
|||||(807,950)
(21,436)|
|||||(154,700)
72,000|
|||||(82,700)
(391,878)|
|||||(474,578)|
Page 14
## **Nottinghamshire Deaf Society**
## **known as NDS**
## **(Registration number: 02868934) Balance Sheet as at 31 March 2021**
|**Note**
**Fixed assets**
Tangible assets
13
Investments
14
**Current assets**
Debtors
15
Cash at bank and in hand
16
**Creditors: Amounts falling due within one year**
17
**Net current assets**
**Total assets less current liabilities**
**Creditors: Amounts falling due after more than one year**
18
**Net assets excluding pension liability**
**Pension scheme liability**
19
**Net liabilities including pension liability**
**Funds of the charity:**
**Pension reserve fund**
**Restricted funds**
**Unrestricted income funds**
Unrestricted funds
**Total funds**
21|**2021**
**£**
298,047
57,100
355,147
87,578
143,268
230,846
(98,688)
132,158
487,305
(49,371)
437,934
(1,025,000)
(587,066)
(1,025,000)
2,140
435,794
(587,066)|**2020**
**£**
295,922
45,319|
|---|---|---|
|||341,241|
|||65,548
36,241|
|||101,789
(81,608)|
|||20,181|
|||361,422
-|
|||361,422
(836,000)|
|||(474,578)|
|||(836,000)
3,190
358,232|
|||(474,578)|
For the financial year ending 31 March 2021 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
## Directors' responsibilities:
- The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
Page 15
## **Nottinghamshire Deaf Society**
## **known as NDS**
## **(Registration number: 02868934) Balance Sheet as at 31 March 2021**
The financial statements on pages 13 to 34 were approved by the trustees, and authorised for issue on .................... and signed on their behalf by:
......................................... Tim Hastings Trustee
Page 16
## **Nottinghamshire Deaf Society**
## **known as NDS**
## **Statement of Cash Flows for the Year Ended 31 March 2021**
|**Note**
**Cash flows from operating activities**
Net cash expenditure
**Adjustments to cash flows from non-cash items**
Depreciation
Investment income
6
Actuarial gains on defined benefit pension schemes
Permanent Funds - Resources expended
General Funds - Other recognised gains/losses
Charifund investment income
**Working capital adjustments**
Increase in debtors
15
Increase in creditors
17
Net cash flows from operating activities
**Cash flows from investing activities**
Interest receivable and similar income
6
Purchase of tangible fixed assets
13
Sale of investments
Net cash flows from investing activities
**Cash flows from financing activities**
Loans and borrowings
17
Net increase/(decrease) in cash and cash equivalents
Cash and cash equivalents at 1 April
Cash and cash equivalents at 31 March
**Reconciliation of net cash flow to movement in net funds**
Decrease in cash
Net funds at 1 April 2020
Net funds at 31 March 2021|**2021**
**£**
(112,488)
14,072
(916)
155,000
34,000
(11,780)
885
78,773
(22,031)
16,451
73,193
31
(16,197)
-
(16,166)
50,000
107,027
36,241
143,268
107,027
36,241
143,268|**2020**
**£**
(82,700)
12,964
(5,042)
(72,000)
49,000
21,436
4,940|
|---|---|---|
|||(71,402)
(4,280)
5,257|
|||(70,425)|
|||102
-
46,545|
|||46,647
-|
|||(23,778)
60,019|
|||36,241|
|||(23,778)
60,019|
|||36,241|
All of the cash flows are derived from continuing operations during the above two periods.
Page 17
## **Nottinghamshire Deaf Society**
## **known as NDS**
## **Notes to the Financial Statements for the Year Ended 31 March 2021**
## **1 Accounting policies**
## **Summary of significant accounting policies and key accounting estimates**
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
## **Statement of compliance**
The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 2011.
## **Basis of preparation**
Nottinghamshire Deaf Society meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
## **Going concern**
The financial statements have been prepared on a going concern basis.
The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees make this assessment in respect of a period of one year from the date of approval of the financial statements.
## **Income and endowments**
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 income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
## _**Donations and legacies**_
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.
## _**Grants receivable**_
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.
Page 18
## **Nottinghamshire Deaf Society**
## **known as NDS**
## **Notes to the Financial Statements for the Year Ended 31 March 2021**
## **Expenditure**
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs 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.
## _**Charitable activities**_
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
## **Government grants**
Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.
## **Taxation**
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
## **Tangible fixed assets**
Individual fixed assets costing £1000 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
## **Depreciation and amortisation**
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
**Asset class Depreciation method and rate** Buildings 2% straight line IT & Office equipment 33% straight line Fixtures & fittings 10% straight line
Page 19
## **Nottinghamshire Deaf Society**
## **known as NDS**
## **Notes to the Financial Statements for the Year Ended 31 March 2021**
## **Fixed asset investments**
Fixed asset investments, other than programme related investments, are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal.
Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end.
## **Trade debtors**
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.
## **Cash and cash equivalents**
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
## **Trade creditors**
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
## **Fund structure**
Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity.
Restricted income funds are those grants for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
Page 20
## **Nottinghamshire Deaf Society**
## **known as NDS**
## **Notes to the Financial Statements for the Year Ended 31 March 2021**
## **Pensions and other post retirement obligations**
The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
The charity also operates a defined benefit pension scheme. Typically defined benefit plans define an amount of pension benefit that an employee will receive on retirement, usually dependent on one or more factors such as age, years of service and compensation.
The liability recognised in the Balance Sheet in respect of defined benefit pension plans is the present value of the defined benefit obligation at the reporting date minus the fair value of plan assets. The defined benefit obligation is measured using the projected unit credit method. The present value of the defined benefit obligation is determined by discounting the estimated future payments by reference to market yields at the reporting date on high-quality corporate bonds that are denominated in the currency in which the benefits will be paid, and that have terms to maturity approximating to the terms of the related pension liability. Actuarial gains and losses are charged or credited to other comprehensive income in the period in which they arise.
## **2 Income from donations and legacies**
|Donations and legacies;
Donations from companies, trusts and similar proceeds
Grants, including capital grants;
Government grants
Grants from other charities|**Unrestricted**
**funds**
**General**
**£**
-
87,612
9,150
96,762|**Total**
**2021**
**£**
-
87,612
9,150
96,762|**Total**
**2020**
**£**
4,501
-
20,100|
|---|---|---|---|
||||24,601|
Page 21
## **Nottinghamshire Deaf Society**
## **known as NDS**
## **Notes to the Financial Statements for the Year Ended 31 March 2021**
## **3 Income from charitable activities**
|Interpreting fees
Training fees
Sundry receipts
Grants
Contracts|**Unrestricted**
**funds**
**General**
**£**
336,589
10,353
744
-
240,168
587,854|**Restricted**
**funds**
**£**
-
-
-
45,430
-
45,430|**Total**
**2021**
**£**
336,589
10,353
744
45,430
240,168
633,284|**Total**
**2020**
**£**
192,632
78,341
8,260
39,290
294,030|
|---|---|---|---|---|
|||||612,553|
## **4 Grants & donations**
|HMRC (CJRS)
National Lottery Community Fund
Nottinghamshire County Council
Nottinghamshire Community Foundation
Garfield Weston Foundation|**Unrestricted**
**funds**
**£**
87,612
-
-
7,150
2,000
96,762|**Restricted**
**funds**
**£**
-
30,030
15,400
-
-
45,430|**Total**
**£**
87,612
30,030
15,400
7,150
2,000|
|---|---|---|---|
||||142,192|
Page 22
## **Nottinghamshire Deaf Society**
## **known as NDS**
## **Notes to the Financial Statements for the Year Ended 31 March 2021**
## **5 Income from other trading activities**
|Trading income;
Other trading income
**6**
**Investment income**
Interest receivable and similar income;
Interest receivable on bank deposits
Other income from fixed asset investments|**Unrestricted**
**funds**
**General**
**£**
3,500
3,500
**Unrestricted**
**funds**
**General**
**£**
31
885
916|**Total**
**2021**
**£**
3,500
3,500
**Total**
**2021**
**£**
31
885
916|**Total**
**2020**
**£**
32,490|
|---|---|---|---|
||||32,490|
||||**Total**
**2020**
**£**
102
4,940|
||||5,042|
Page 23
## **Nottinghamshire Deaf Society**
## **known as NDS**
## **Notes to the Financial Statements for the Year Ended 31 March 2021**
## **7 Expenditure on charitable activities**
|Wages, NI & pensions
Recognised pension costs
(FRS102)
Travel & expenses
Freelance interpreting
Other staff costs
Volunteer Expenses
Training
Payroll & bookkeeping
Legal & professional fees
Other finance costs
Telephone & internet
Office consumables & equipment
Licences & maintenance
Fees & subscriptions
Cleaning
Building maintenance & repairs
Utilities
Insurance
Building consumables &
equipment
Catering & refreshments
Project costs
Advertising & marketing
Sundry expenses
Bad debts
Depreciation|**General**
**funds**
**£**
494,197
-
5,587
59,545
2,698
-
265
1,525
1,600
1,211
3,011
3,114
5,916
1,692
2,800
6,664
6,463
7,022
918
5
3,513
107
2,335
40
14,072
624,300|**Restricted**
**funds**
**£**
40,971
-
79
-
-
1,734
-
-
-
-
189
2,457
-
-
-
-
-
-
-
-
-
-
-
-
-
45,430|**Pension**
**fund**
**£**
-
34,000
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
34,000|**Total**
**2021**
**£**
535,168
34,000
5,666
59,545
2,698
1,734
265
1,525
1,600
1,211
3,200
5,571
5,916
1,692
2,800
6,664
6,463
7,022
918
5
3,513
107
2,335
40
14,072
703,730|**Total**
**2020**
**£**
579,283
49,000
17,231
51,558
2,860
1,119
3,071
1,433
2,075
2,807
4,497
2,909
6,348
1,409
12,490
12,802
12,572
5,867
2,085
3,520
12,739
635
6,357
319
12,964|
|---|---|---|---|---|---|
||||||807,950|
Page 24
## **Nottinghamshire Deaf Society**
## **known as NDS**
## **Notes to the Financial Statements for the Year Ended 31 March 2021**
## **8 Net incoming/outgoing resources**
Net incoming/(outgoing) resources for the year include:
|Depreciation of fixed assets|**2021**
**£**
14,072|**2020**
**£**
12,964|
|---|---|---|
## **9 Trustees remuneration and expenses**
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No trustees have received any reimbursed expenses or any other benefits from the charity during the year.
## **10 Fees payable to independent examiner**
During the period, the fees payable (excluding VAT) to the charity’s independent examiner Community Accounting Plus are analysed as follows:
|Independent examination
Other financial services|**2021**
**£**
1,600
1,420
3,020|**2020**
**£**
1,600
1,433|
|---|---|---|
|||3,033|
Page 25
## **Nottinghamshire Deaf Society**
## **known as NDS**
## **Notes to the Financial Statements for the Year Ended 31 March 2021**
## **11 Staff costs**
The aggregate payroll costs were as follows:
|**Staff costs during the year were:**
Wages and salaries
Social security costs
Pension costs
FRS Costs|**2021**
**£**
471,062
40,517
23,589
34,000
569,168|**2020**
**£**
521,723
38,354
19,206
49,000|
|---|---|---|
|||628,283|
The monthly average number of persons (including senior management team) employed by the charity during the year was as follows:
|Average number of employees|**2021**
**No**
22|**2020**
**No**
26|
|---|---|---|
18 (2020 - 19) of the above employees participated in the Defined Contribution Pension Schemes.
1 (2020 - 1) of the above employees participated in the Defined Benefit Pension Schemes.
Contributions to the employee pension schemes for the year totalled £23,589 (2020 - £19,206).
During the year, the charity made redundancy and/or termination payments which totalled £Nil (2020 - £13,730).
No employee received emoluments of more than £60,000 during the year.
The total employee benefits of the key management personnel of the charity were £50,116 (2020 - £50,417).
## **12 Taxation**
The charity is a registered charity and is therefore exempt from taxation.
Page 26
## **Nottinghamshire Deaf Society**
## **known as NDS**
## **Notes to the Financial Statements for the Year Ended 31 March 2021**
## **13 Tangible fixed assets**
|**Cost**
At 1 April 2020
Additions
At 31 March 2021
**Depreciation**
At 1 April 2020
Charge for the year
At 31 March 2021
**Net book value**
At 31 March 2021
At 31 March 2020|**Buildings**
**£**
582,616
-
582,616
289,047
11,652
300,699
281,917
293,569|**IT & Office**
**equipment**
**£**
153,918
16,197
170,115
153,335
2,125
155,460
14,655
583|**Fixtures &**
**fittings**
**£**
130,814
-
130,814
129,044
295
129,339
1,475
1,770|**Total**
**£**
867,348
16,197|
|---|---|---|---|---|
|||||883,545|
|||||571,426
14,072|
|||||585,498|
|||||298,047|
|||||295,922|
## **14 Fixed asset investments**
## **Other investments**
|**Cost or Valuation**
At 1 April 2020
Revaluation
At 31 March 2021
**Net book value**
At 31 March 2021
At 31 March 2020|**Unlisted**
**investments**
**£**
45,319
11,781
57,100
57,100
45,319|**Total**
**£**
45,319
11,781|
|---|---|---|
|||57,100|
|||57,100|
|||45,319|
At the year end the charity held the follwing investments: M&G Charifund Accumulation Units, 217 units with a market value of £57,100.
Page 27
## **Nottinghamshire Deaf Society**
## **known as NDS**
## **Notes to the Financial Statements for the Year Ended 31 March 2021**
## **15 Debtors**
|Trade debtors
Prepayments
**16 Cash and cash equivalents**
Cash on hand
Cash at bank
**17 Creditors: amounts falling due within one year**
Bank loans
Trade creditors
Other taxation and social security
Accruals|**2021**
**£**
66,303
21,275
87,578
**2021**
**£**
159
143,109
143,268
**2021**
**£**
629
25,302
54,093
18,664
98,688|**2020**
**£**
63,959
1,589|
|---|---|---|
|||65,548|
|||**2020**
**£**
160
36,081|
|||36,241|
|||**2020**
**£**
-
25,836
35,502
20,270|
|||81,608|
Page 28
## **Nottinghamshire Deaf Society**
## **known as NDS**
## **Notes to the Financial Statements for the Year Ended 31 March 2021**
## **Bank borrowings**
Nat West Bounce Bank Loan is denominated in Sterling with a nominal interest rate of 0% (2020 - £Nil), and the final instalment is due on 10 July 2030. The carrying amount at year end is £50,000 (2020 - £Nil).
Repayments commence 10th February 2022. Prior to this date, interest only is charged of £613.40. Thereafter the effective interest rate is 2.15%. Repayments will be at £544.63 per month, ending 10th July 2030.
## **18 Creditors: amounts falling due after one year**
Bank loans
**----- Start of picture text -----**
2021
£
49,371
**----- End of picture text -----**
## **19 Pension and other schemes**
## **Defined benefit pension schemes Nottinghamshire County Council Pension Fund**
The charity participates in the Nottinghamshire County Council Pension Fund, a multi-employer defined benefit final salary scheme. The scheme is administered for the benefit of Local Authority employees and other bodies and is managed in accordance with the Local Government Pension Scheme Regulations 2013. The administering authority for the Fund is Nottinghamshire County Council.
Contributions to the scheme are determined with advice of independent qualified actuaries on the basis of triennial valuations using the projected unit method.
The date of the most recent comprehensive actuarial valuation was 31 March 2019. In accordance with Financial Reporting Standard 102 (FRS 102), the actuaries have undertaken a valuation of the assets and liabilities of the scheme at 31 March 2021. Pension scheme assets are measured using market values. Pension scheme liabilities are measured using a projected unit method. The “present value of scheme liabilities” has been arrived at by projecting the results of the last full valuation as at 31 March 2019 forward to 31 March 2021.
The total cost relating to defined benefit schemes for the year recognised in profit or loss as an expense was 34,000 (2020 - £49,000).
The total cost relating to defined benefit schemes for the year included in the cost of an asset was £nil (2018: £nil).
## _**Reconciliation of scheme assets and liabilities to assets and liabilities recognised**_
The amounts recognised in the statement of financial position are as follows:
Page 29
## **Nottinghamshire Deaf Society**
## **known as NDS**
## **Notes to the Financial Statements for the Year Ended 31 March 2021**
|Fair value of scheme assets
Present value of defined benefit obligation
Defined benefit pension scheme deficit|**2021**
**£**
1,473,000
(2,498,000)
(1,025,000)|**2020**
**£**
1,240,000
(2,076,000)|
|---|---|---|
|||(836,000)|
## _**Defined benefit obligation**_
Changes in the defined benefit obligation are as follows:
|Present value at start of year
Current service cost
Interest cost
Actuarial gains and losses
Benefits paid
Contributions by scheme participants
Present value at end of year|**2021**
**£**
2,076,000
14,000
48,000
402,000
(45,000)
3,000|
|---|---|
||2,498,000|
## _**Fair value of scheme assets**_
Changes in the fair value of scheme assets are as follows:
|Fair value at start of year
Interest income
Return on plan assets, excluding amounts included in interest income/(expense)
Employer contributions
Contributions by scheme participants
Benefits paid
Administration expenses
Fair value at end of year|**2021**
**£**
1,240,000
29,000
236,000
11,000
3,000
(45,000)
(1,000)|
|---|---|
||1,473,000|
Page 30
## **Nottinghamshire Deaf Society**
## **known as NDS**
## **Notes to the Financial Statements for the Year Ended 31 March 2021**
## _**Analysis of assets**_
The major categories of scheme assets are as follows:
|Cash and cash equivalents
Equity instruments
Debt instruments
Property
Investment funds|**2021**
**£**
67,000
955,000
150,000
150,000
151,000
1,473,000|**2020**
**£**
51,000
715,000
166,000
185,000
123,000|
|---|---|---|
|||1,240,000|
_**Return on scheme assets**_
|Return on scheme assets|**2021**
**£**
265,000|**2020**
**£**
(113,000)|
|---|---|---|
The pension scheme has not invested in any of the charity's own financial instruments or in properties or other assets used by the charity.
## _**Principal actuarial assumptions**_
The principal actuarial assumptions at the statement of financial position date are as follows:
|Discount rate
Future salary increases
Future pension increases
**_Post retirement mortality assumptions_**
Current UK pensioners at retirement age - male
Current UK pensioners at retirement age - female
Future UK pensioners at retirement age - male
Future UK pensioners at retirement age - female|**2021**
**%**
2.00
3.85
2.85
**2021**
**Years**
22.00
24.00
23.00
26.00|**2020**
**%**
2.35
2.95
1.95|
|---|---|---|
|||**2020**
**Years**
22.00
25.00
23.00
26.00|
Page 31
## **Nottinghamshire Deaf Society**
## **known as NDS**
## **Notes to the Financial Statements for the Year Ended 31 March 2021**
## **20 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 charity in the event of liquidation.
## **21 Funds**
|**Unrestricted funds**
**_General_**
General fund
**Restricted funds**
Community space
improvements
Community Centre
Domestic Violence Project
Big Lottery Community Fund
(Covid)
**Total restricted funds**
**Other funds**
Pension reserve
**Total funds**|**Balance at 1**
**April 2020**
**£**
358,232
2,140
-
1,050
-
3,190
(836,000)
(474,578)|**Incoming**
**resources**
**£**
700,812
-
15,400
-
30,030
45,430
-
746,242|**Resources**
**expended**
**£**
(623,250)
-
(15,400)
(1,050)
(30,030)
(46,480)
(34,000)
(703,730)|**Other**
**recognised**
**gains/(losses)**
**£**
-
-
-
-
-
-
(155,000)
(155,000)|**Balance at**
**31 March**
**2021**
**£**
435,794
2,140
-
-
-|
|---|---|---|---|---|---|
||||||2,140
(1,025,000)|
||||||(587,066)|
Page 32
## **Nottinghamshire Deaf Society**
## **known as NDS**
## **Notes to the Financial Statements for the Year Ended 31 March 2021**
|**Unrestricted funds**
**_General_**
General fund
**Restricted funds**
Community space
improvements
Community Centre
Welfare rights
Domestic Violence Project
**Total restricted funds**
**Other funds**
Pension reserve
**Total funds**|**Balance at 1**
**April 2019**
**£**
457,315
2,339
7,468
-
-
9,807
(859,000)
(391,878)|**Incoming**
**resources**
**£**
635,396
4,280
20,400
5,250
9,360
39,290
-
674,686|**Resources**
**expended**
**£**
(713,043)
(4,479)
(27,868)
(5,250)
(8,310)
(45,907)
(49,000)
(807,950)|**Other**
**recognised**
**gains/(losses)**
**£**
(21,436)
-
-
-
-
-
72,000
50,564|**Balance at**
**31 March**
**2020**
**£**
358,232
2,140
-
-
1,050|
|---|---|---|---|---|---|
||||||3,190
(836,000)|
||||||(474,578)|
The specific purposes for which the funds are to be applied are as follows:
Community Space Improvement - For the improvement or renewal of fixtures and fittings in community and social use spaces in the premises.
Community Centre - For provision of community space and activities for deaf and hard of hearing people and community groups.
Domestic Violence Project - For partnership working with local Domestic Violence organisations to improve awareness amongst staff and deaf people of issues relating to domestic violence and abuse. The amount shown was an underspend which was returned to the funder in the year.
Welfare rights - For provision of a welfare rights support, advice and advocacy service for those who are deaf or hard of hearing.
Big Lottery Community Fund (Covid) - Provision of additional volunteer befriending support for deaf and hard of hearing people. Provision of a tablet computer loan scheme for isolated deaf people.
Page 33
## **Nottinghamshire Deaf Society**
## **known as NDS**
## **Notes to the Financial Statements for the Year Ended 31 March 2021**
## **22 Analysis of net assets between funds**
|Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
Creditors over 1 year
Pension scheme liability
Total net assets
Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
Pension scheme liability
Total net assets|**Unrestricted**
**funds**
**General**
**£**
298,047
57,100
227,656
(98,688)
(49,371)
-
434,744
**Unrestricted**
**funds**
**General**
**£**
295,922
45,319
98,599
(81,608)
-
358,232|**Restricted**
**funds**
**£**
-
-
3,190
-
-
-
3,190
**Restricted**
**funds**
**£**
-
-
3,190
-
-
3,190|**Pension fund**
**reserve**
**£**
-
-
-
-
-
(1,025,000)
(1,025,000)
**Pension fund**
**Reserve**
**£**
-
-
-
-
(836,000)
(836,000)|**Total funds**
**£**
298,047
57,100
230,846
(98,688)
(49,371)
(1,025,000)|
|---|---|---|---|---|
|||||(587,066)|
|||||**2020**
**Total funds**
**£**
295,922
45,319
101,789
(81,608)
(836,000)|
|||||(474,578)|
## **23 Related party transactions**
There were no related party transactions in the year.
Page 34