2022-03-31-accounts

Hollybank Trust Annual report and accounts for the year ended 31 March 2022

Registered charity number 1043129

Contents

1

Welcome to Hollybank	2
What we do	3
A message from our Chair	4
A message from our CEO	5
Our people	6
Our finances at a glance	7
Hollybank highlights	8-11
Powerful partnerships	12-14
Objectives and activities	15
How we are structured	16
How we are governed	17-19
Our strategy	20
Financial review	21-22
Trustee responsibilities	23
Independent auditor’s report and accounts 2021 / 2022	24-31
Other notes	32-46

Hollybank Trust Report and Accounts 2021 / 2022

Welcome to Hollybank

2

Keeping people safe and well

As a charity, we pride ourselves on placing the children, young people and adults we care for at the heart of everything we do – and we were determined not to let a global pandemic stop us!

We have navigated our way through the pandemic by keeping our focus on one thing: keeping the people who live and learn with us, safe and healthy. Everyone pulled together because we wanted the same thing.

Improving quality of life during a pandemic

Of course, keeping people physically well is only half of our story. Hollybank’s ethos is about providing quality of life, for life and we know that providing exceptional care is about more than just meeting people’s daily needs. We continue to give people the opportunity to explore their interests and enjoy life - despite the many restrictions placed upon us because of the pandemic.

Being unable to see loved ones for extended periods of time has been extremely challenging for everyone who lives with us. We have turned to technology to help us keep these lines of communication open – using video calling when face to face family visits have not been possible.

We would like to extend our gratitude to friends and family for their unwavering support. We cannot give people back the time that they have lost, but we will continue to do all that we can to keep everyone who lives and learns here safe and reconnect everyone.

Although Covid-19 was extremely difficult to navigate at Hollybank, we are so grateful to feel that we are now returning to the fun and happy atmosphere we are used to here. It feels great to be able to organise Trust wide events to bring our whole organisation together for the first time since the pandemic.

Parent quotes from our 2021 annual survey:

“I’d like to say how amazing the care is at Hollybank, it has lifted a lot of my worries. Communication is efficient, all staff are approachable, and we appreciate that staff keep us involved with our (adult’s) day to day life.”

“We noticed for the first time in months that staff were relaxed, upbeat and there were people in the carpark going off to the cinema etc., laughing and smiling full of anticipation - just like the good old days.”

Hollybank Trust Report and Accounts 2021 / 2022

3

What we do

Living

We have ten residential homes providing 24/7 care for people with a range of profound and multiple disabilities and sensory impairments across Yorkshire. Seven of these homes are on our main site in Mirfield, one is in Holmfirth, one in Barnsley and one near Wakefield. We currently have 104 children, young people and adults living at Hollybank across these ten homes and work with 40 Local Authorities. p

Most of the people we care for were required to shield and we had to restrict movement across all our homes through the Covid-19 pandemic. We quickly adopted new ways of working, which included allocating dedicated enrichment and therapy specialists to each of our homes, so that our children, young people, and adults could continue to take part in the activities and pastimes they enjoy throughout the pandemic. This continued throughout 2021.

The people who live with us have complex medical needs and very few can communicate verbally. We are extremely humbled by the way everyone has adapted to these unprecedented circumstances, the changes to their usual routines and for accommodating the necessary hygiene protocols - including the wearing of PPE - that we had to introduce and continue to use to help keep people safe.

Learning

We can offer fully flexible educational placements, ranging from free nursery places through to full 52-week placements. At 31 March 2022, 25 ( 2021: 21) school children and 9 (2020: 11) nursery children attended Hollybank school; and a further 9 children and young people accessed the short break service during the year. Occupancy in the children’s home was 92% for the year (2021: 75.4%) .

We continue to work with families using the ‘Evidence for Learning’ app to share resources and updates with parents, and video technology to ‘see’ our pupils.

Our family support officer continues to be on hand, providing both physical and virtual support to not only our school families, but also the parents involved in our Little Pips support group for families with babies and toddlers with profound disabilities. There are currently 35 pupils in our school and nursery, with a growing waiting list of families wanting to join us.

ELMS

For people aged over 18 years, we offer our ELMS enrichment service. Our skilled teams work together with the individual, parents, families, and community agencies to provide the best care and learning experience in a diverse and inclusive environment. Throughout the pandemic, ELMS has been delivered in several different ways, but we were so glad to be able to welcome everyone back together again this year as part of a connected local community.

Hollybank Trust Report and Accounts 2021 / 2022

A message from our Chair

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Here at Hollybank, we are continuing to implement our plans to reopen all our services and get back to life as we knew it before the pandemic.

As both a parent and the chair of the Trustees, it has been a pleasure to see so many of the children, young people, and adults out and about, leading busy lives once again in a safe manner.

Our Board of Trustees is acutely aware that we are only able to look forward in this way because we have managed to keep those using our services safe and well and have not faced the difficult funding decisions that many other charities have. We consider ourselves fortunate to have been able to get to this point with minimal impact on the health and wellbeing of our children, young people, and adults. What the staff team have achieved is nothing less than miraculous and their adaptability knows no bounds.

We are extremely grateful to our CEO, Executive and Senior Management Team, all of our staff who have sacrificed so much during the past two years, those who use our services and their families for the part everyone has played in helping us to achieve this outcome. Thank you all very much. We know it has been tough for everyone.

The impact of the pandemic and other world events will be felt far and wide across the country in the months and years ahead, not least by our commissioners as the country faces huge inflationary and economic challenges. As a Board we will continue to look for ways to offer exceptional value for money and deliver excellent standards of care and education to the children, young people and adults who live, learn, and spend time at Hollybank. We know that there are difficult times ahead for the charity sector and public services.

Recruitment and retention are a particular challenge in the care sector as well as much of the economy, and we are not immune to those pressures at Hollybank. We are committed to continually adapt and improve our employment offer to ensure it is attractive and that Hollybank remains a good place to work.

Our underlying objective has always been to provide quality of life, for life for each one of the people we provide care for. Everything we do, every business decision we make, is driven by the needs of the children, young people and adults who live and learn here.

“It has been a pleasure to see so many of the children, young people, and adults out and about, leading busy lives once again in a safe manner”.

We accept that we must all learn to live with Covid-19 and continue to operate in its wake. We are most certainly not out of the woods yet, but we are turning our minds back to the development plans we had pre-pandemic and are optimistic and excited about the future plans for Hollybank.

Clare Morrow Chair of Trustee Directors

Hollybank Trust Report and Accounts 2021 / 2022

5

A message from our CEO

We will never get the past two years back and there is no escaping the fact that it has been the most stressful, draining time for everyone associated with Hollybank Trust. That said, we have refused to let this period define us and have so much to be thankful for.

1 a We are eternally grateful to our staff who went above and beyond (and continue to do so) in their day-to-day roles during the pandemic and made several personal sacrifices. Our care teams, school staff, therapists, activity teams and facilities staff are the heart of the organisation and provide amazing person-centred front-line care services. Thanks to these amazing people, we were able to keep everyone who lives, learns, and works at Hollybank safe and well throughout the pandemic.

Although Covid-19 was extremely difficult to navigate at Hollybank, we are so grateful to feel that we are now returning to the fun and happy atmosphere we are used to here. It feels great to be able to organise Trust wide events to bring our whole organisation together for the first time since the pandemic.

We recently celebrated our wonderful staff and thanked them for their invaluable work during the pandemic by holding a Trust celebration day for staff, the people we care for, our school children and their families. It was our first coming-together event since 2019, and it was brilliant to be able to spend time together face to face in the sunshine.

“We’re also enjoying seeing family visits taking place again and seeing the people who live and learn at Hollybank accessing their local communities again and enjoying day trips and fun outings”.

As we start to look forward to the future, we know that the skills we have developed in recent times will help us rebuild and repair – and we will come back stronger as a result. We have reopened all our services, whilst adhering to the necessary restrictions that continue to apply to the social care sector.

As an Executive team, we are working hard to deliver and implement a strategy which aims to help us build from the strong foundations we already have.

Every organisation needs to know where it is going – and Hollybank is no exception. Our strategic plan – called sowing the seeds of success – will keep us focused on the future, so that we can concentrate our efforts on the activities that will benefit us the most and ensure that we can continue to provide excellent services for the children, young people and adults who live and learn with us.

We have identified four priorities that will help us build from the strong foundations we already have. They are engagement, governance & compliance, learning & development, and growth.

These priorities are important to us and are the key to securing our future success. Our main priority is keeping the people who live, learn and work at Hollybank safe and well, and continuing to provide quality of life, for life.

Anna O’Mahony Chief Executive

Hollybank Trust Report and Accounts 2021 / 2022

Our people

6

Recruitment – and retention - during a pandemic

Providing care and education for more than 100 vulnerable children, young people and adults during a global pandemic presented many challenges to Hollybank, not least the need to maintain safe staffing levels.

Our staff team is close to 600 people strong. There are easier places to work than Hollybank, but few are as rewarding. Most of the team are front-line social care workers, responsible for the day-to-day care of the children, young people and adults who live with us. It is a difficult and demanding job at the best of times – and we were navigating our way through the worst of times.

Staff turnover rates within the social care sector usually sit at around 30%* and Hollybank has felt this impact, albeit that our turnover has always been below the sector norms. On top of this, over the past year, we have had to not only manage our usual vacancies but also cover periods of staff sickness and isolation. To help with this, we have grown our bank staff pool to support us with our staffing contingency plans.

In 2020, we put in place a virtual recruitment process that would help us to attract, interview, offer and induct new recruits into the Hollybank family. We continue to use this process alongside our face-to-face recruitment, to find the best people.

It is easy to focus on the negative aspects of the pandemic, but we have been heartened to see the social care sector – and its workers – start to get the recognition it deserves. We believe that – along with our more flexible recruitment practices – this increased visibility of the social care sector and the career opportunities it offers, has helped us to successfully recruit and onboard close to 208 new colleagues to the Hollybank team between April 2021 – March 2022.

Our entire staff team of 600 has worked tirelessly within the ever-changing government guidance, always putting the people who live and learn here first, even above their own families. We are extremely grateful to everyone who works for us.

*data – Skills for Care, Oct. 2020: The state of the adult social care sector and workforce in England

“I have worked at Poplars for over a year now, and I love it so much! It does not feel like a job, because every day is different. The adults are so loving, it makes me smile knowing I am helping to provide quality of life, for life and helping to ensure they live a happy and fulfilled life. The managers have been really helpful with my shift patterns and have helped me to maintain a really good work life balance.” - Hollybank Support Worker

Gender pay gap

Our gender pay report is available on our website. The results of our gender pay gap review for 2021 are shown below.

Difference between men and women	Mean	Median	UK Average	UK Average
			Mean	Median
Gender Pay Gap	2.6%	0.0%	7.9%	15.4%

Hollybank Trust Report and Accounts 2021 / 2022

Our finances at a glance ee

7 =

Money out… Money in… £15,811,712 £15,923,927 ~{o)_. Staff costs 83% of income

• Non-staff costs 17% of income

• Df a.

Hollybank Trust Report and Accounts 2021 / 2022

Hollybank highlights

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Charity Times award

We were shortlisted in July 2021 for a Charity Times award in the Best Use of Technology category for our roll out of Workplace at the beginning of the pandemic as a tool to keep our dedicated and determined teams informed and inspired.

In March 2020 - like most of our peers in the social care sector – Hollybank’s preferred working practices were pulled from under our feet. The years of work we had put into successfully breaking down organisational silos were reversed overnight, at a time when there had never been a more pressing need for us to communicate with our dispersed staff teams.

That’s where Workplace came in. It provided us with a lifeline during a time of crisis, enabling us to reach teams quickly and keep them up to speed with ever-changing rules, restrictions and ways of working designed to keep the children, young people and adults who live and learn here safe and healthy.

Our frontline staff are all superstars. Thanks to their unwavering commitment and care, we are coming out of the pandemic with no Covid-19 related deaths and a minimal number of positive cases. We are

extremely thankful for that – and to the awards for recognising the part that Workplace played in helping us do that.

We may not have taken the crown at the awards in September 2021, but we are still extremely proud to have been recognised at the 2021 Charity Times Awards in the Best Use of Technology category.

We were beaten to the top spot by the Guide Dogs for the Blind’s new AI bot, a very worthy winner! Since then, we have continued working hard to make Workplace a more accessible and cohesive community for all staff across the Trust.

Hollybank nominee of Great British Care Award

One of our Support Workers was nominated for a Great British Care Award in 2021. He was nominated by one of our families, on behalf of their son who lives with us.

He was nominated for ‘Best Newcomer’. This award looks to acknowledge and celebrate a new member of staff who started a job in the care sector within the previous 12 months.

We would like to say a huge congratulations for his nomination, from everyone at Hollybank, his hard work is hugely appreciated.

He did not win this year but to be nominated in the newcomer category is a huge achievement and was a very welcome distraction from Covid-19!

We’re so proud of the amazing work all of our Support Workers do on a daily basis, and it’s great to see their work being recognised by the families of the people they care for.

Hollybank Trust Report and Accounts 2021 / 2022

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Scarecrow festival

After having to hold our much-loved Hollybank Trust Scarecrow Festival virtually in 2020, we were extremely pleased to be able to hold it as a physical Covid-19 safe event with staggered viewing slots in 2021.

It did not disappoint! We held it in our sensory garden on our main site in Mirfield and had lots of fantastic entries from across the Trust. We also had a visit from Ian’s Mobile Pop-up Farm, and local MP Kim Leadbeater came to visit and judge the scarecrows too.

We also invited one of our retired teachers back to judge the competition too as previously she had organised the festival, so we had some big shoes to fill.

There were lots of brilliant and creative straw masterpieces, but Mary Poppins created by Conkers, and Whatever Next created by Nursery took the two top spots as chosen by the judges.

We’d like to say a huge thank you to everyone who created a straw masterpiece, and a massive well done to our two winners. We can’t wait to see what our 2022 scarecrow festival will look like, hopefully with less emphasis on Covid-19!

Christmas celebrations

We were grateful to have a jam-packed festive season full of Christmas activities here at Hollybank. We kicked off the festive season by attending Roberttown’s Christmas tree festival and entering our very own tree into the competition.

Local businesses, community groups and schools are invited to decorate a Christmas tree and display it in Roberttown’s community centre. Local people then come and view all the trees and vote for their favourite one.

Our school pupils and adults who attend our ELMS service were very busy making decorations to go on our Christmas tree.

Our Communications team took the tree to the festival, and we are pleased to say everybody loved the wonderful effort that had gone into making our tree a success and we came 6th out of 11 entries.

Hollybank Trust Report and Accounts 2021 / 2022

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Hollybank feature on MP’s Christmas card

Kim Leadbeater, MP for Batley and Spen, launched a competition inviting local schools to submit designs to feature on her 2021 Christmas card to send out to her constituents.

Ms Leadbeater said: “I wanted my first Christmas card as the MP for Batley and Spen to showcase the talent of pupils in some of the wonderful schools across the constituency.”

Our school classes worked hard creating designs and we were excited to receive the news that one of the designs we submitted was chosen as a runner up!

The design that was chosen was created as a team effort by our Post 16 class, who each put a fingerprint on the card to make the snowman.

Our design featured on the back of the card, along with other designs from other runners-up.

Callum’s bike ride

We have some very special children in our nursery, and one of our nursery children’s brother, Callum, is rather special too!

Callum’s brother has very complex medical needs and requires lots of medical and sensory equipment.

His big brother Callum, along with his friend Alex, cycled 80miles from Blackpool Tower back to Hollybank on 5[th] March 2022 to raise funds to purchase this equipment for our nursery which will benefit all our nursery children.

Some of our Hollybank staff and Callum's family were at our main site to welcome Callum and Alex back with tea and cake after their long but successful cycle.

On behalf of everyone from Hollybank, we would like to say a huge thank you to Callum and Alex for their amazing fundraising effort, we really admire your strength and perseverance! Callum raised a huge amount of money for the Trust which our nursery staff plan to put towards outdoor sensory equipment for Callum’s brother and his classmates to enjoy.

Hollybank Trust Report and Accounts 2021 / 2022

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Photography event

In 2021, it was agreed that an event should be held to celebrate our children, young people and adults at Hollybank Trust and tackle the wider social challenges of removing the stigma of disability. We also wanted to raise awareness of what Hollybank Trust does and the things the amazing people we support can do.

As well as wanting to change the perception of disability, we wanted to build links with local education providers and so we collaborated with Leeds Arts University and asked some of their photography students to come and take photographs of s some of our adults.

This project enabled us to bring people together and allow the adults we care for, the staff involved and the university students to have a unique shared experience. It also enabled us to think about how we can focus on ability not disability and the personal images that were taken as part of this campaign shows just that.

The day of the photoshoot was a very exciting day, and we all got something different out of it.

We would like to thank Leeds Arts University and their students for their professionalism and creativity. We would also like to thank Gray Financial Ltd who have part funded this project and all the staff here at Hollybank who made the day run so smoothly and made it such a special and memorable day.

We are planning to hold an exhibition at our Mirfield site in July 2022 and we can’t wait to see the hard work of our staff, the people we care for, and the Leeds Arts University Student’s come to fruition.

Our biggest thanks go to the stars of the show, the adults who formed the focus of our exhibition. They are the reason we do what we do at Hollybank.

Bronte Ball

We were contacted by a long-term supporter of the Trust who wanted to organise an event to raise funds for the children, young people and adults who live and learn at Hollybank. Due to the Bronte connections the Trust has, and her connections to the Bronte society, it was decided that the ball would be Bronte themed.

Many months of planning went into the event which took place in February 2022 with our CEO and our Communications team attending the ball, along with the Deputy Lord Lieutenant of West Yorkshire, the Mayor and Mayoress of Kirklees and lots of local people and supporters.

We took some of our new banners, booklets, and leaflets to have on display at the event held at Healds Hall in Liversedge, to spread the word about what we do too.

The proceeds of all tickets sold, and money raised from the raffle and the auction held on the night were donated to Hollybank Trust. We’re grateful to the organisers for all their hard work and for hosting such a brilliant event in support of the Trust.

Hollybank Trust Report and Accounts 2021 / 2022

Powerful partnerships

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We are grateful for our community links and our corporate partnerships

Hollybank is not like a lot of other charities. Most of our income comes from Local Authorities and Clinical Commissioning Groups to cover the cost of the education and care we provide. That doesn’t mean that we don’t need to fundraise though, and we work with a range of businesses, organisations and individuals to improve the quality of life for our children, young people and adults.

All the money we receive from our supporters goes directly towards improving our on-site facilities – such as our hydrotherapy and rebound centre - and provides our children, young people and adults with tools and equipment specifically designed to give them more independence and make their lives a little easier.

Here at Hollybank, we have several very successful partnerships with local companies across Yorkshire and some national companies too.

Working with local and national businesses and organisations really helps us spread the message about what we do far and wide and raise awareness about the important work we do with children, young people, and adults with profound disabilities.

Gray Financial Ltd

In 2021, we established a new partnership with a local financial company based in Liversedge, Gray Financial Ltd. The team at Gray Financial approached us as they were looking to support a local charity and they decided they would like to put Hollybank Trust forward as their charity of the year.

We were extremely grateful to Gray Financial for choosing us, and we were excited to hear about the fundraising ideas they had in mind.

Gray Financial are part of a wider financial network called The Openwork Partnership who run a foundation that supports charities like Hollybank.

The Openwork Partnership foundation works with other organisations and businesses to support vulnerable children and adults in the UK and overseas. Each year their colleagues and advisers raise on average over £500,000 to support everybody from new-born babies to people later in life.

As a nominated charity, we were able to apply for a grant which was successful and we were awarded £3,000, which we put towards activities and projects to benefit the lives of the children, young people, and adults we care for here at Hollybank.

In addition to choosing us as their charity of the year, and helping us secure the Openwork Partnership grant, Gray Financial also completed additional fundraising, including a sponsored walk and a raffle.

We cannot thank Gray Financial enough for putting us forward for the grant and for their fundraising efforts. We were able to invite them onto site in Summer 2021 and they presented us with a cheque for the money they had raised through their fundraisers, and we also got the chance to talk about how we could work together more closely in partnership.

Hollybank Trust Report and Accounts 2021 / 2022

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Paul Toher, Financial Adviser at Gray Financial said, “We were recently welcomed down to Hollybank Trust for an outdoor site visit and a tour of their 22-acre site. It was great to see how much they have grown over their 65 plus years and to hear about all the services they provide, not just to our local community but also nationwide.

They have and are constantly expanding and updating their services to meet the needs of all the individuals they support. It was a real eye opener to see how many projects they are hoping to take on to develop outdoor sensory spaces to support the learning, development, and independence of the people they care for.”

We are grateful Gray Financial reached out to us back in 2021, and we are so glad we were able to begin a partnership with them which has gone from strength to strength and has helped us to provide enjoyable activities which contribute to the full and happy atmosphere we try to create at Hollybank.

Treka Bus

As well as establishing new partnerships, we also continue to work hard to maintain long-standing ones.

We have partnered with Treka Bus for seven years and they provide a great deal of support to Hollybank Trust through their support with our assisted vehicles, our employee recognition scheme and they also financially support Little Pips.

As major suppliers of adapted buses across the UK and experts in mobility matters, they understand Hollybank’s mission to provide quality of life for the children, young people and adults who use our services. They get where we are going as a charity and are eager to do whatever they can to support us in getting there. Every month, we present our ‘Treka #BeSomeone Award’ which was formerly the ‘Carer of wo the Month Award’ and has always been funded by Treka. This award recognises a member of er of staff for going above and beyond in their role throughout the month, and for demonstrating our #BeSomeone behaviours.

Thanks to Treka, we can present the chosen staff member with a £100 voucher to treat themselves with! We are so grateful to Treka for not only supporting the people who live and learn at Hollybank, but also our staff and helping us to create a positive working environment.

“We wanted to do more than set up a direct debit! Seeing the impact of our funding locally was a huge draw for us at Treka Bus,” admits Morgan Clissett, managing director at Treka Bus (part of Woodall Nicholson). “We love the fact that our team can see exactly how the money is being used – and witness first-hand the difference it makes to people’s lives. Whenever we come away from a Hollybank visit, we cannot help but feel humbled and proud. It gives us a warm and fuzzy feeling to play a part in the work they do.”

Hollybank Trust Report and Accounts 2021 / 2022

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Morley Methodist Church – Charity of the Year

We are always thankful when other organisations choose to partner with us. Not only does it help raise awareness of what we do, it also raises much needed funds for our children, young people, and adults.

Adopting a Charity of the Year is an effective way for businesses, organisations, or local community groups to focus their approach to charitable giving and actively involve employees or members of their group, whilst helping a charity to achieve greater financial security and enhanced community support.

In January 2020, Morley Methodist Church chose us as their Church Charity of the Year for 2020. We visited them to give them an introductory presentation and to discuss the ways in which they may support us.

Covid-19 took hold not too long after our initial meeting with the church and so we were not able to invite them into the Trust. They contacted us again in 2021 to say that due to this they had chosen to support us throughout 2021 too, sadly we were still unable to invite them to visit the Trust during 2021 due to the restrictions on the social care sector.

They have raised funds for us through several fundraising events during the last two years and split the donations from these events between their own church fund and Hollybank, these events included film evenings, organ recital concerts, and annual memorial services.

We are delighted they have decided to continue to support us through to December 2022 and will visit us later this year for the first time since selecting us as their chosen Church Charity of the Year back in 2020!

Our partnership with local beekeeper Richard Terry

Back in 2014, local Beekeeper Richard Terry approached Hollybank with a view to relocating some of his beehives to our site and six years later, the honeybees are still here!

Richard said: “I wanted the hives to be in a place that would be good for the bees, but also of benefit to the residents at Hollybank. The grounds at Hollybank are ideal for the bees and I am keen to support the amazing work that Hollybank does by selling the honey our bees make.”

Outback Beez, managed by Richard and his daughter, have 25 hives in total with three of those being on our Mirfield site. Last year, Hollybank’s fuzzy friends produced 100 jars of honey. All proceeds from the honey and other products sold help us to continue to support our children, young people and adults.

Last year, the beehives were looking a little plain, so Richard decided to launch a small community project to bring some colour to Hollybank. He asked local families if they’d like to get creative and brighten up some new beehives for our honeybees to move into in the spring.

We’re really grateful to Richard for reaching out to us eight years ago, and we’re glad we still have a great partnership that benefits not only the people we care for here at Hollybank, but the local community and the bees too.

Hollybank Trust Report and Accounts 2021 / 2022

Objectives and activities

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Objectives and activities

Hollybank Trustees Limited, company number 5251731, is the corporate Trustee of Hollybank Trust. In line with the Charity’s Trust Deed, the Trustee makes sure that Hollybank uses its Trust Fund and its income upon trust “for the benefit of children and adults with disabilities and with special care and/or educational needs” by the following:

• The relief of those in need by the provision of residential and/or daytime accommodation and related facilities; and

• The advancement of education by the provision of a special school and/or other education and personal development facilities at Hollybank, Mirfield, and/or other suitable premises.

The Trustee has complied with its duty in section 17 of the Charities Act 2011, to have due regard to the guidance published by the Charity Commission and has referred to the guidance on public benefit when reviewing the aims and objectives of the Trust, and in planning our future activities.

Hollybank charges fees for the services we deliver to Local Authorities and Clinical Commissioning Groups (CCGs), as well as private purchasers. We offer to source advice on how to find independent support for those families who need it, to help them obtain funding from Local Authorities and CCGs for their family member, both for the school and for residential placements.

The aims of the Trust are clearly intended to benefit babies, children, young people and adults who have profound disabilities and critical medical conditions only. We are very conscious of our duty to deliver services, not only to those people who are educated and who live at Hollybank, but also to children, young people and adults in the wider community who fit the criteria identified in the Trust’s charitable aims.

Charity number 1043129

Trustee Hollybank Trustees Limited

Registered office Far Common Road Mirfield West Yorkshire WF14 0DQ

Auditor Saffery Champness LLP Mitre House North Park Road Harrogate HG1 5RX

Banker Lloyds Bank plc 1 Westgate Huddersfield HD1 2DN

Solicitor Lupton Fawcett LLP Yorkshire House East Parade Leeds LS1 5BD

Insurance broker and advisor PIB Insurance Brokers Poppleton Grange Low Poppleton Lane York YO26 6GZ

Hollybank Trust Report and Accounts 2021 / 2022

How we are structured

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Our Trustee Directors (Directors of Hollybank Trustees Ltd)

Name

Clare Morrow

John Sykes Jenny Allen

Colin Blair Sara Buchan Ruth Cherry David Clugston Michael Holt Jonathan Jones

Hanif Loonat Merran McRae Christopher Sharp Venkatraman Thiyagesh David Flynn

Jan Thornton David Whitehead

Chair of Trustee Directors

Vice Chair of Trustee Directors

(Appointed 6 September 2021)

(Appointed 6 September 2021) (Resigned 6 September 2021)

(Resigned 28 October 2021) (Appointed 6 September 2021)

(Resigned 1 October 2021) (Appointed 6 September 2021, resigned 30 May 2022)

Committee membership Chair of Quality / Chair of Nominations Resources / Nominations Chair of Employment / Nominations Employment Employment Resources Resources Chair of Resources Chair of Nominations / Quality / Employment Resources Quality Employment / Nominations Quality Quality

Chair of Governors / Quality Resources

Our Executive Team

Position

Chief Executive Executive Director of Operations (Resigned 30 June 2022) Executive Director of People, Communications & Children’s Services Executive Director of Finance, IT & Estates

Name

Anna O’Mahony Linda Christmas Annabel Lane Louise Shute

Our Senior Management Team

Position

Head of Finance Head of Communications Head of Communications Head of Children’s Services Head of Therapy & Enrichment Head of IT Head of IT Head of Adult Residential Services Head of People & Culture Head of Estates Head of Quality

(Appointed 16 November 2021) (Resigned 28 October 2021)

(Appointed 7 March 2022) (Resigned 4 March 2022) (Resigned 24 April 2022)

Name

Asif Chhibda James Hook Jo Fearn Ailsa Moore Kevan Rushby Ben Smith Victoria Cotterill Sharon Tinsley Helen Toop Daniel Whiteley Wendy Porter

Hollybank Trust Report and Accounts 2021 / 2022

How we are governed

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The Trust is administered by Hollybank Trustees Limited. Our Trustee Directors have a broad cross section of business, financial, legal, medical, educational, employment, marketing and communication backgrounds. Two of our Trustee Directors are parents of young people who live within Hollybank Trust.

The Trust is governed by a Declaration of Trust, dated 29 December 1994, and amended on 18 November 2002; 24 November 2004 and 20 July 2017. Our governing document is our Memorandum and Articles of Association. The latter was reviewed in 2017 and the changes approved by the Charity Commission in June 2017.

We have a comprehensive induction process for all our Trustee Directors, which includes a code of conduct, job descriptions and duties for both Trustee Directors and office holders, laid down together with the essentials of board responsibilities in a Board Code of Conduct. New Trustee Directors spend time with the Chair, Chief Executive, and relevant members of the Executive Board. They have access to all relevant documents pertaining to the effective running of the Trust.

We review the roles and responsibilities of the Trustee Directors and school governors annually, as well as considering the structure of our committees and their remit. As part of this review, the skills of both Trustee Directors and school governors are discussed to ensure that they are matched to appropriate committees. This also helps us to identify skills which need to be considered in future recruitment processes.

The Trustee Directors regularly review their own strengths, weaknesses, and effectiveness in relation to the objects of the Trust and our current strategy. Our Board of Trustee Directors meets formally, at least four times a year. They have overall responsibility for determining the Trust’s mission and vision, overseeing our strategic direction and monitoring performance. Both safeguarding and health and safety are standing items at each meeting. All committee Terms of Reference are reviewed annually.

Trust committees

Resources

Delegated responsibility for accountability framework and all financial control systems, health and safety, risk analysis and risk management, IT, data protection and fundraising. It ensures we comply with all legal requirements relevant to finance and good practice and makes sure any Trust property is kept in a good state of repair and is adequately insured. It ensures that there is a planned maintenance schedule produced annually for the care and upkeep of all the Trust’s properties.

Employment

Delegated responsibility for ensuring that the Trust complies with current legislation and good practice regarding employment issues.

Quality

Delegated responsibility for ensuring the Trust complies with all aspects of the law, relevant standards and good practice in relation to residential and respite services, safeguarding, incident management, therapy, nursing, enrichment and social and emotional support across the Trust.

Nominations

Delegated responsibility for leading the recruitment process for the Chair, Trustee Directors and the Chief Executive. Also acts as a remuneration committee for the executive team members of the Trust.

Hollybank Trust Report and Accounts 2021 / 2022

18

School governance

Our Board of school governors has delegated responsibility for the running of the school. The Board consists of at least one Trustee Director, as well as seven school governors. They work within detailed articles and instruments of governance. For the period 1 April 2021 – 31 March 2022, governor meetings and link visits were largely conducted remotely, via Teams.

Our school is formally registered and recognised as a non-maintained special school. The school was rated Outstanding by Ofsted in 2018 and previously in 2014. Our separate children’s home – Orchard Court – provides accommodation for some of the school children, the remaining children are day pupils, who may access respite provision in the children’s home. The children’s home was inspected in March 2022 by Ofsted and was rated as Good.

The skills represented on the Governing Body are education, health, business, social care, Local Authority representatives and the voluntary sector. We have two parent governors and a teacher governor to represent the school staff. Six link governors are appointed to monitor the quality of each area of the Ofsted framework: Leadership and Management, Quality of Teaching and Learning, Pupil Outcomes, Personal Development and Wellbeing, Behaviour & Safety and Early Years. The link governors report to the Governing Body quarterly and a summary of their findings is taken to the Trustee Directors by the Chair of Governors.

Risk management

The trustees and executive management of the Trust believe that sound risk management is integral to both good management and good governance practice. Risk management forms an integral part of the Trust’s decision making and is incorporated within strategic and operational planning. Risk assessment is conducted on all new activities and projects to ensure they are in line with the Trust’s objectives and mission. Any risks or opportunities arising are identified, analysed and reported at an appropriate level.

A risk register covering economic, governance, strategic and reputational, operational, compliance and financial risks is maintained by the executive and senior management team and updated at least four times a year and more frequently where risks are known to be volatile. A risk report is made to the trustee board each quarter detailing the high concern risks, rising risks, reducing risks, new risks and emerging risks.

The Trust operates comprehensive risk management processes through its various committees. It is a standing agenda item on the fortnightly meetings of both the executive team and the senior management team; monthly meetings of the joint executive and senior management team; quarterly meetings of the resources committee; and quarterly meetings of the trustee board.

The main elements of the Trust’s systems of internal financial control include the following:

• Clearly defined management responsibilities and levels of authority, with formal policies for the approval and control of expenditure.

• Detailed financial control policies and procedures approved by the resources committee.

• Regular review of performance and monthly financial reports, comparing actual results with forecasts and changes in expected outcomes including key performance indicators (KPIs).

• Comprehensive short- and medium-term planning process supported by detailed income, expenditure and cash flow projections.

• An external annual review of financial controls and processes is carried out, which includes a more indepth look at the financial procedures relating to a specific area of the Trust. A report from this annual review, including recommendations about improvements, is made to the resources committee, which considers the outcomes as part of the process of satisfying the adequacy of the systems of internal financial controls.

Hollybank Trust Report and Accounts 2021 / 2022

19

The trustees regularly review the risk management system to manage the key risks to which the Trust is exposed and consequently mitigate any major risks.

Key risks facing the Trust are: the management of serious incidents, safeguarding, regulatory compliance, health and safety, Covid-19, public sector funding and its impact on service user numbers, reduction in occupancy, impact of the national living wage (NLW) and pension increases, inflationary pressures and significant rise in cost of living (in particular utilities), the replacement of legacy IT systems, maintaining the ageing estate, recruitment and staffing, people management and capacity.

The Trust’s policies for regulatory compliance, health and safety, incident reporting and safeguarding mitigate against the risks faced in this area. Strong budgetary control helps mitigate the financial risks the Trust faces, but it is widely known the challenges our sector is facing with regards attracting and retaining staff, high agency costs, managing staff absence due to Covid-19 isolation, NLW increases and the impact on other rates of pay, significant increase in utility and insurance costs aswell as high inflation; whilst having to fight for appropriate funding to cover these costs. We have an Admissions Panel which reviews requests for our services to reduce the length of time we may have a vacant placement. We also promote staff wellbeing and relaunched our wellbeing programme.

The Trust also expects to meet minimum standards required by legislation and best practice in operational areas covering the following: IT and data protection; HR; Health and safety; Infection control; Governance; Quality; Financial accounting and reporting, etc.

Regulatory bodies the Trust has to report to and comply with are the Charities Commission, Care Quality Commission (CQC), Ofsted, Health & Safety Executive (HSE), HMRC and Information Commissioners Office (ICO). Hollybank also has statutory reporting duties including reporting to the local safeguarding teams. Anything reported to these regulatory and/or statutory bodies are notified to trustees through the committee and board meetings.

The risk of falling short of these standards is mitigated as far as possible by ensuring that appropriate policies and working practices are adopted in each of these key areas and that staff are adequately experienced and trained to manage this. Where necessary, external advice is sought to supplement internal expertise.

CQC and Ofsted inspection visits were suspended between March 2020 and late 2021 due to the pandemic and we have only had two visits since these have been resumed:

==> picture [388 x 172] intentionally omitted <==

----- Start of picture text -----
Service Inspection Inspection Rating
date body
Orchard Court (Children) Mar 2022 Ofsted Good
Willow Court Sep 2021 CQC Requires Improvement
Poplars Feb 2020 CQC Good
Rowan Court Jan 2020 CQC Requires Improvement
Orchard Court (Adults) May 2019 CQC Outstanding
Oak House May 2019 CQC Good
Beeches May 2019 CQC Good
Conkers Dec 2018 CQC Good
Hollybank School Oct 2018 Ofsted Outstanding
Holly Court Apr 2018 CQC Good
Sycamores Apr 2018 CQC Good
----- End of picture text -----

Hollybank Trust Report and Accounts 2021 / 2022

Our strategy

20

Our 2021-2024 business strategy outlines our four key : priorities

: Priority 1 engagement

We include everyone. It’s important that we get better at involving the children, young people and adults, their families and other stakeholders and our colleagues in what we do. We want to hear what people think and make sure their views are represented in everything we do. That’s key to us developing a positive culture that will help us provide better services.

: Priority 2 governance and compliance

We want to be the best. To be the best we need to drive up standards and the quality of the care and education we deliver. We will do this by giving colleagues the tools they need to do their job well, and by having the right policies and procedures in place. We will check how we’re doing through regular, robust audits and feedback received.

: Priority 3 learning and development

Every day is a school day. We want to make it easier for our colleagues to embrace learning so they can do a great job every day for the children, young people and adults they work with. Not everyone learns the same way, so we’ll combine face-to-face training with e-learning. We’ll get better at helping people see what their future looks like too with clearly defined career pathways.

: Priority 4 growth

Demand for our services is growing – that’s great news! We need to make sure that we can accommodate this increased need for our services. We will look for ways to develop our children’s services, the way we support people as they transition from school to residential care and the availability of our adult residential provision.

QUALITY SUSTAINABILITY We want to deliver a firstWe want to be around for Our inspection bodies are the CQC and Ofsted. Inspection visits were suspended during the year, so our class service, every time, years to come, so eee performance in relation to regulated activities is unchanged. that’s why we have high everything we do is in the fe F © expectations of ourselves, long-term interests of and others Hollybank

CULTURE & REPUTATION

We care about what people think of us – not just our colleagues, but also families, supporters and the wider community too

Hollybank Trust Report and Accounts 2021 / 2022

Financial review

21

The principal source of income comes from fees and charges, mainly from Public Bodies, for the educational, medical/therapeutic and residential services provided by the Trust. The Trust also receives certain direct grant funding from the Education Funding Agency, the Department of Education and Skills, legacies, donations from events and fundraising activities as well as major fundraising appeals for specific projects.

The total incoming resources of the Trust for the year were £15,924k (2021: £15,134k), demonstrating a 5.2% increase of £790k. Included within this are incoming resources from charitable activities which have increased by 6.9% to £15,496k (2021: £14,502k) , the main reasons being:

• Residential services income has increased by £745k to £14,204k (2021: £13,459k) . This is due to higher occupancy levels and an increase in fees achieved (predominantly from the annual fee uplifts). However, our respite provision continued to remain closed for large parts of the year due to Covid-19 restrictions, which resulted in a decrease in total respite income of £55k. Compared to 2020, respite income has decreased by £169k.

• School income has increased by £189k to £1,212k (2021: £1,023k) due to an increase in pupil numbers and grants received.

• Enrichment services re-opened to external users in August 2021 after Covid-19 restrictions, with income increasing by £60k to £80k (2021: £20k) . Compared to 2020, enrichment income has decreased by £173k.

Income from legacies and donations has decreased by £26k to £45k (2021: £71k) as a result of Covid-19 restrictions on fundraising events. Investment income has increased by £1k to £25k (2021: £24k) . Other income has decreased by £180k to £357k (2021: £537k) due to lower Covid-19 related grants received to cover the cost of personal protective equipment (PPE), national living wage (NLW), recruitment and retention and increased infection prevention control (IPC) measures.

The cost of raising donations and legacy income was £9k (2021: £9k ). Due to Covid-19 restrictions, there has been no fundraising events in the year.

The cost of charitable activities for the year was £15,784k (2021: £14,583k), an increase of £1,201k. The movement in costs is mostly made up of an increase in staff costs of £2,029k due to the annual pay increase in April 2021, an additional pay uplift for front-line adult services staff in December 2021, and higher use of agency staffing to cover staff absence for Covid-19 isolation and vacant front line posts, which has been a challenge felt across the sector. This was offset by a reduction in direct costs of £294k largely from savings in cleaning and PPE costs due to receiving free PPE from the NHS, and a reduction in repairs and renewals spend as there were some high value works in the prior year; and a reduction in other costs of £534k largely from lower IT costs as there was significant spend in the prior year on a new payroll, HR and time and attendance systems and IT equipment and network security to enable agile working as a result of the pandemic, and lower premises costs due to some high value purchases in the prior year.

Governance costs of £19k (2021: £25k) have not been allocated against charitable activities as management do not consider these costs to represent a day to day operating cost of the Trust. As such, they have been recognised as a separately identifiable expense in the Statement of Financial Activities.

Net income for the financial year is £112k (2021: £517k) , demonstrating a decrease of £405k. The balance sheet shows that at 31 March 2022, the total funds of the Trust were £23,435k (2021: £23,319k) .

Fundraising activities

Our fundraising activities undergo financial audits carried out by external inspectors. The Trust is a member of the Fundraising Regulator and was previously a member of the Fundraising Standards Board. There have been no formal complaints received. The Trust does not use telephone fundraising, cold calling or door to door fundraising as methods of raising income. The Trust does not use external consultancy or commission-based fundraisers.

Investments

The Trustee Directors have responsibility for Trust investments, to act in accordance with the Trustees Act 2000, and the Trust’s own investment policy. They regularly consider the appropriateness of Trust investments and it is the current policy of the Trustee Directors to hold endowed funds in a suitable investment fund to produce an appropriate mix of income and capital growth.

Hollybank Trust Report and Accounts 2021 / 2022

22

The endowed funds are invested in COIF Charities Investment Fund – Income Units, managed by CCLA Investment Managers Ltd. The value of investments at 31 March 2022 was £46k (2021: £42k) and the Trust received dividends of £2k (2021: £1k) in the year. The Trustee Directors consider that the investments met the set performance objectives.

School fees are charged and payable each school term meaning the Trust has periods in the year when it has surplus funds. These periods are relatively short term (two to three months), and these surplus funds are offset against bank loans before the application of any interest charges.

Reserves policy

At 31 March 2022, the Trust had free reserves of £2,185k (2021: £1,888k) . Free reserves are the unrestricted funds of the Trust, less the value of tangible fixed assets bought out of unrestricted funds, adjusted for any attributable long term financing.

The Trust utilises reserves to finance significant investment in land, buildings, fixtures, fittings, vehicles and equipment in order to maintain and further develop the service level it provides. This development has continued during the year with investment in the year of £253k (2021: £334k) in tangible fixed assets which was met from free reserves, voluntary income and loans.

Levels of income and expenditure are not usually subject to material fluctuations in the short term and can be forecast with a reasonable degree of certainty. Business interruption insurance (24 months’ loss of income) is also in place. The Trustee Directors regularly review the reserve levels. The current policy to ensure adequate reserves is based on a riskbased approach. Trading risk, other operational risks and significant likely investments are estimated considering existing commitments and planned future activities. Free reserves at 31 March 2022 substantially exceed the estimated net risk.

Plans for future periods

We are continuing to experience growing demand for the services we offer and have begun modelling what demand is likely to look like over the next decade.

We have started to scope plans for school developments to accommodate a significant rise in demand for places over the next few years as well as what role the Trust has to play in post sixteen education.

We are also prioritising the need for additional space in which to provide short breaks and residential placements for children, another area of growing demand which we currently have limited capacity to fulfil.

These developments will require significant investment and require successful partnership arrangements to progress. A Development Group has been established to create solid plans for the future whilst enabling us to balance the financial commitments we already have. These are trying times we are experiencing due to the cost of living rising across the UK at an alarming rate.

As well as our development plans, we are also putting time and effort into becoming a more sustainable organisation. We are now partnering with the University of York to create our first Sustainability policy and look forward to sharing more about this, and our implementation plans in next year’s report.

Signed on behalf of the Trustee:

C Morrow Chair of Hollybank Trustees Limited

12 September 2022

Hollybank Trust Report and Accounts 2021 / 2022

Trustee responsibilities

23

The Trustee Directors are responsible for preparing the Trustee’s report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the Trustee to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period.

In preparing these financial statements, the Trustee Directors are required to:

• select suitable accounting policies and then apply them consistently

• observe the methods and principles in the Charities SORP (FRS102)

• make judgements and estimates that are reasonable and prudent

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

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business

The Trustee Directors are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, and applicable accounting regulations. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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

Hollybank Trust Report and Accounts 2021 / 2022

Hollybank Trust

Independent auditor’s report and accounts 2021 / 2022

Hollybank Trust Report and Accounts 2021 / 2022

Independent auditor’s report

25

Opinion

We have audited the financial statements of Hollybank Trust for the year ended 31 March 2022 which comprise the statement of financial activities, balance sheet and cash flow statement and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

• give a true and fair view of the state of the charity’s affairs as at 31 March 2022 and of its incoming resources and application of resources for the year then ended.

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Charities Act 2011.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors’ responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustee’s use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustee with respect to going concern are described in the relevant sections of this report.

Other information

The Trustee is responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditors’ report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information; we are required to report that fact.

We have nothing to report in this regard.

Hollybank Trust Report and Accounts 2021 / 2022

26

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

• the information given in the Trustee’s annual report is inconsistent in any material respect with the financial statements; or

• the charity has not kept sufficient accounting records; or

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

• we have not received all the information and explanations we require for our audit.

Responsibilities of Trustee

As explained more fully in the Trustee’s Responsibilities Statement set out on page 23, the Trustee is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustee determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustee is responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustee either intends to liquidate the charity or to cease operations, or has no realistic alternative but to do so.

Auditors’ responsibilities for the audit of the financial statements

We have been appointed as auditors under the Charities Act 2011 and report in accordance with regulations made under that Act.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors’ report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud are detailed below.

Identifying and assessing risks related to irregularities:

We assessed the susceptibility of the charity’s financial statements to material misstatement and how fraud might occur, including through discussions with the Trustee Directors, discussions within our audit team planning meeting, updating our record of internal controls and ensuring these controls operated as intended. We evaluated possible incentives and opportunities for fraudulent manipulation of the financial statements. We identified laws and regulations that are of significance in the context of the charity by discussions with Trustee Directors and updating our understanding of the sector in which the charity operates.

Laws and regulations of direct significance in the context of the charity include the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, the Care Quality Commission, Ofsted and guidance issued by the Charity Commission for England and Wales.

Hollybank Trust Report and Accounts 2021 / 2022

27 _

Audit response to risks identified:

We considered the extent of compliance with these laws and regulations as part of our audit procedures on the related financial statement items including a review of financial statement disclosures. We reviewed the charity’s records of breaches of laws and regulations, minutes of meetings and correspondence with relevant authorities to identify potential material misstatements arising. We discussed the charity’s policies and procedures for compliance with laws and regulations with members of management responsible for compliance.

During the planning meeting with the audit team, the engagement partner drew attention to the key areas which might involve non-compliance with laws and regulations or fraud. We enquired of management whether they were aware of any instances of non-compliance with laws and regulations or knowledge of any actual, suspected or alleged fraud. We addressed the risk of fraud through management override of controls by testing the appropriateness of journal entries and identifying any significant transactions that were unusual or outside the normal course of business. We assessed whether judgements made in making accounting estimates gave rise to a possible indication of management bias. At the completion stage of the audit, the engagement partner’s review included ensuring that the team had approached their work with appropriate professional scepticism and thus the capacity to identify non-compliance with laws and regulations and fraud.

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charity’s Trustee, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the Trustee those matters we are required to state to it in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the Trustee as a body, for our audit work, for this report, or for the opinions we have formed.

………………………………………………………………………………………. iyatten Choon LLP

……………………………………………………………………………………….

Saffery Champness LLP, Mitre House, North Park Road, Harrogate, HG1 5RX

Chartered Accountants and Statutory Auditors

Date: 20 October 2022

Saffery Champness LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006

Hollybank Trust Report and Accounts 2021 / 2022

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Statement of financial activities

for the year ended 31 March 2022

Note Income and endowments from: Donations and legacies Charitable activities Investments Other 2 2 2 2 Total income 2 Expenditure on: Raising funds Charitable activities Other 3 4 6 Total expenditure Net income Other recognised gains/(losses): Transfers between funds Gain/(loss) on revaluation of investment 15 10 Net movement in funds Reconciliation of funds Fund balances brought forward at 1 April 2021 15 Fund balances carried forward at 31 March 2022 15	Unrestricted Funds 2022 £ 19,682 15,496,037 23,717 357,117 _ 15,896,553 _ 7,057 15,769,551 18,961 _ 15,795,569 _ 100,984 25,679 - ____ 126,663 22,631,136 ____ 22,757,799	Restricted Funds 2022 £ 25,679 - - - _ 25,679 _ - 14,448 - _ 14,448 _ 11,231 (25,679) - ____ (14,448) 645,268 ____ 630,820	Endowment Fund 2022 £ - - 1,695 - _ 1,695 _ 1,695 - - _ 1,695 _ - - 3,659 ____ 3,659 42,390 ____ 46,049	Total Funds 2022 £ 45,361 15,496,037 25,412 357,117 _ 15,923,927 _ 8,752 15,783,999 18,961 _ 15,811,712 _ 112,215 - 3,659 ____ 115,874 23,318,794 ____ 23,434,668	Total Funds 2021 £ 71,301 14,502,176 24,073 536,537 ____
					15,134,087 ____
					8,800 14,582,734 25,253
					____ 14,616,787
					_ 517,300 - 7,259 _ 524,559 22,794,235 ____
					23,318,794

The above results derive from continuing activities.

The notes on pages 32 to 46 form part of these financial statements.

Hollybank Trust Report and Accounts 2021 / 2022

Balance sheet

29

at 31 March 2022

	Note		2022		2021
		£	£	£	£
Fixed assets
Tangible fixed assets	9		21,668,939		22,070,714
Investments	10		46,049		42,390
			____		____
			21,714,988		22,113,104
Current assets
Debtors	11	1,671,369		1,427,149
Cash at bank and in hand		2,698,652		3,160,310
		____		____
		4,370,021		4,587,459
Liabilities:amounts falling due
within one year	12	(2,340,175)		(2,900,392)
		____		____
Net curent assets			2,029,846		1,687,067
			____		____
Total assets less current liabilities			23,744,834		23,800,171
Liabilities:amounts falling due after
more than one year	13		(310,166)		(481,377)
			___		___
Net assets			23,434,668		23,318,794
Funds
Unrestricted funds	15		22,757,799		22,631,136
Restricted funds	15		630,820		645,268
Endowment fund	15		46,049		42,390
			___		___
Total charity funds			23,434,668		23,318,794

Approved by the Trustee Board on 12 September 2022 and signed on its behalf by:

C Morrow

Chair of Hollybank Trustees Limited

The notes on pages 32 to 46 form part of these financial statements.

Hollybank Trust Report and Accounts 2021 / 2022

Cash flow statement

30

for the year ended 31 March 2022

Note Net cash (used in) / generated by operating activities 1 Cash flows from investing activities Purchase of tangible fixed assets Disposal of tangible fixed assets Net cash used by investing activities Cash flows from financing activities Repayment of borrowing Net cash used in financing activities Change in cash and cash equivalents in the period Cash and cash equivalents at the beginning of the period Cash and cash equivalents at the end of the period	2022 £ (10,613) _ (253,374) 18,957 _ (234,417) _ (216,628) _ (216,628) ____ (461,658) 3,160,310 ____ 2,698,652	2021 £ 1,890,403 _ (334,226) 15,592 _ (318,634) _ (276,246) _ (276,246) ____ 1,295,523 1,864,787 ____ 3,160,310

The notes on pages 32 to 46 form part of these financial statements.

Hollybank Trust Report and Accounts 2021 / 2022

Cash flow notes

31

1 Reconciliation of net cash used in operating activities

	2022	2021
	£	£
Net incoming resources	112,215	517,300
Depreciation	636,192	602,921
(Increase)/Decrease in debtors	(244,220)	305,182
(Decrease)/Increase in creditors	(514,800)	465,000
	____	____
Cash flow from operating activities	(10,613)	1,890,403

2 Analysis of changes in net debt

	At 1 April 2021	Cash flows	Other non-	At 31 March 2022
			cash changes
	£	£	£	£
Cash	3,160,310	(461,658)	-	2,698,652
Loans falling due within one year	(232,306)	61,576	7,558	(163,172)
Loans falling due after more than one year	(481,377)	155,052	16,159	(310,166)
Finance lease obligations	(310,027)	74,268	-	(235,759)
	___	___	___	___
	2,136,600	(170,762)	23,717	1,989,555

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(forming part of the financial statements)

Notes

1 Accounting policies

Hollybank Trust (the “Trust”) is an unincorporated charity.

The accounts (financial statements) have been prepared under the historical cost convention with items recognised at historic cost modified by the adoption of measuring investment assets and freehold property on a revaluation basis. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (the “Charity SORP”) preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The accounting policies set out below have, unless otherwise stated, been applied consistently to all periods presented in these financial statements.

Going concern

The financial statements have been prepared on a going concern basis as the Trustee Directors believe that no material uncertainties exist. The Trust’s business activities together with the factors likely to affect its future performance and development are detailed in the annual report. It is the view of the Trustee Directors that the Trust is well placed to manage its business risks successfully. This is evidenced in the financial statements, cash flow and liquidity position as stated in this annual report. In addition, the Trust has robust policies and procedures for managing its reserves and its financial risk management objectives. The Trustee Directors have a reasonable expectation that the Trust has adequate resources to continue in operational existence for the foreseeable future and they therefore continue to adopt the going concern basis of accounting in preparing the annual financial statements.

The key risks facing the Trust are discussed in the annual report on page 19. Other areas of uncertainty are the levels of investment return and key judgements around property valuation and provisions.

Incoming resources

Income from grants and fees are matched to the periods for which the services are provided and any such income, not expended by the end of the financial year, is carried forward as deferred income.

All donations and grants towards asset purchases, income from fundraising events, and investment income are treated as income in the year receivable. Legacy income is included either when received or, if before receipt, there is reasonable certainty that the legacy will be received and that the value receivable can be measured with sufficient reliability.

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Notes (continued)

1 Accounting policies (continued)

Fixed assets and depreciation

Depreciation is provided by the Trust to write off the cost less the estimated residual value of tangible fixed assets by equal instalments over their estimated useful economic lives as follows:

Freehold land - nil - Freehold buildings 2% per annum - Equipment, fixtures and fittings 20% - 33% per annum Motor vehicles - 12.5% - 25% per annum

A policy of revaluation exists for freehold land and buildings. Valuations are performed by external valuation specialists on a rolling 5-year basis.

A surplus on book value is transferred to unrestricted funds. A deficit is recognised when the book value exceeds its valued amount. Such losses are recognised in the Statement of Financial Activities unless it arises on a previously revalued asset. A deficit on a revalued asset is recognised from any aggregate surplus relating to that asset. Where there is no such surplus or if the carrying value may not be recoverable, and the deficit or impairment is deemed permanent, it is charged to the Statement of Financial Activities.

Land and buildings in the course of construction or conversion are not depreciated until brought into use.

Plant, equipment, furnishings, fixtures, fittings and other tangible fixed assets, with a value of less than £5,000, are written off as consumables in the year of purchase.

Tangible fixed assets are subject to review on a regular basis to ensure that there has been no impairment and that the value included in assets is fair and reasonable.

Leases

Assets acquired under finance leases or hire purchase agreements are capitalised and the outstanding future obligations are shown in creditors. Operating lease rentals are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

Resources expended

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a staff time basis. No amounts have been included in the financial statements for services donated by volunteers.

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Notes (continued)

1 Accounting policies (continued)

VAT

The Trust’s activities are classified as exempt or non-business activities for the purposes of VAT and therefore any VAT charged on purchases is a cost to the Trust and is included in the relevant costs heading in the Statement of Financial Activities.

Investments

Investments are stated at market value at the balance sheet date. Changes made to the balance sheet market values are reflected in the Statement of Financial Activities together with realised profits and losses on sales of investments during the year.

Fund structure

The Trust’s funds are held in the following separate funds:

• a) Unrestricted fund

• This fund represents the unrestricted funds that the Trustee is free to use in accordance with the charitable objects of the Trust.

b) Restricted funds

These funds represent donations, grants and fundraising income from events and appeals for a specific purpose. The income is spent on providing land and buildings, equipment, facilities and social activities for the benefit of our children, young people and adults. Further details can be found in note 15(b).

c) Permanent endowment fund

• This is a permanent endowment fund, the income of which is restricted to the provision of additional benefits for our school students.

Tax

The Trust 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 trust for UK income tax purposes. Accordingly, the Trust is potentially exempt from taxation in respect of income or capital gains within categories covered by Part 10 of the Income Tax Act 2007 or section 256 of The Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied to charitable purposes.

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Notes (continued)

1 Accounting policies (continued)

Basic financial instruments:

Trade and other debtors / creditors

Trade and other debtors are recognised initially at transaction price less attributable transaction costs. Trade and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition, they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade debtors. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate of instrument for a similar debt instrument.

Interest-bearing borrowings classified as basic financial instruments

Interest-bearing borrowings are recognised initially at the present value of future payments discounted at a market rate of interest. Subsequent to initial recognition, interest-bearing borrowings are stated at amortised cost using the effective interest method, less any impairment losses.

Cash and cash equivalents

Cash and cash equivalents comprise cash balances and call deposits. Bank overdrafts that are repayable on demand and form an integral part of the Trust’s cash management are included as a component of cash and cash equivalents for the purpose only of the cash flow statement.

Other financial instruments:

Financial instruments not considered to be basic financial instruments

Other financial instruments not meeting the definition of Basic Financial Instruments are recognised initially at fair value. Subsequent to initial recognition, other financial instruments are measured at fair value with changes recognised in the Statement of Financial Activities.

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Notes (continued)

2 Income and endowments

		Unrestricted	Restricted	Endowment	2022	2021
		£	£	£	£	£
Donations and legacy	Donations	19,682	25,679	-	45,361	66,301
income:	Fundraising events	-	-	-	-	-
	Legacies	-	-	-	-	5,000
		___	___	___	___	___
Total income from legacies and donations	Total income from legacies and donations	19,682	25,679	-	45,361	71,301
		___	___	___	___	___
Investment income	Dividends	-	-	1,695	1,695	1,238
	Interest received	23,717	-	-	23,717	22,835
		___	___	___	___	___
Total investment income		23,717	-	1,695	25,412	24,073
		___	___	___	___	___
Charitable activities	Residential services	14,203,752	-	-	14,203,752	13,458,988
	School	1,211,898	-	-	1,211,898	1,023,271
	Enrichment services	80,387	-	-	80,387	19,917
		___	___	___	___	___
Income from charitable
activities		15,496,037	-	-	15,496,037	14,502,176
		___	___	___	___	___
Other income		357,117	-	-	357,117	536,537
		___	___	___	___	___
Total other incoming
resources		357,117	-	-	357,117	536,537
		____	____	____	____	____
Total incoming resources		15,896,553	25,679	1,695	15,923,927	15,134,087

The 2021 figures included £42,160 restricted donations and legacies.

Hollybank Trust Report and Accounts 2021 / 2022

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Notes (continued)

3 Cost of donations and legacy income

	Unrestricted	Endowment	2022	2021
	£	£	£	£
Staff costs	4,807	-	4,807	4,807
Office and premises costs	3,919	-	3,919	3,993
Motor and travel expenses	26	-	26	-
Fundraising events	(1,695)	1,695	-	-
	___	___	___	___
	7,057	1,695	8,752	8,800

The 2021 figures include £1,238 of fundraising costs allocated to the endowment fund.

4 Cost of charitable activities

4 Cost of charitable activities
	Unrestricted	Restricted	2022	2021
	£	£	£	£
Residential services:
Staff costs	10,356,882	-	10,356,882	8,617,118
Depreciation	271,968	504	272,472	265,613
Other direct costs	1,134,492	-	1,134,492	1,416,956
Support costs (note 5)	2,071,533	-	2,071,533	2,320,938
School:
Staff costs	822,293	-	822,293	692,968
Depreciation	5,515	-	5,515	6,810
Other direct costs	92,582	-	92,582	108,129
Support costs (note 5)	361,703	-	361,703	468,796
Enrichment services:
Staff costs	320,491	-	320,491	283,455
Depreciation	85,565	13,944	99,509	84,512
Other direct services	52,723	-	52,723	49,192
Support costs (note 5)	244,654	-	244,654	261,668
Other costs of charitable activities	(50,850)	-	(50,850)	6,579
	___	___	___	___
	15,769,551	14,448	15,783,999	14,582,734

The 2021 figures include £32,067 of depreciation allocated to the restricted fund.

Hollybank Trust Report and Accounts 2021 / 2022

39

Notes (continued)

5 Allocation of central support costs

	Residential	School	Enrichment	2022	2021
	services		services
	£	£	£	£	£
Governance:
Staff costs	396,940	31,440	28,296	456,676	457,881
Other costs	2,169	88	156	2,413	59,985
Finance and payroll:
Staff costs	220,664	11,709	15,760	248,133	232,143
Other costs	31,923	1,694	2,282	35,899	35,568
People and culture:
Staff costs	205,332	38,569	45,375	289,276	279,110
Other costs	177,801	33,400	39,294	250,495	231,448
Information technology:
Staff costs	124,272	59,458	9,910	193,640	169,552
Other costs	77,794	37,220	6,202	121,216	492,805
Premises and amenities:
Staff costs	360,323	63,947	42,039	466,309	392,485
Other costs	274,418	48,701	32,018	355,137	454,439
Depreciation	199,897	35,477	23,322	258,696	245,986
	___	___	___	___	___
	2,071,533	361,703	244,654	2,677,890	3,051,402

6 Other costs

Audit and professional costs (see below)

2022	2021
£	£
18,961	25,253
___	___
18,961	25,253

Fees payable to the auditors for services to the Trust
(included in the above costs):
	2022	2021
	£	£
Audit	17,940	18,623
Tax advisory services	-	5,880
Legal & professional fees	1,021	750

Hollybank Trust Report and Accounts 2021 / 2022

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Notes (continued)

6 Other costs (continued)

Governance costs of £18,961 (2021: £ 25,253 ) have not been allocated against charitable activities as management do not consider these costs to represent a day to day operating cost of the Trust. As such, they have been recognised as a separately identifiable expense in the Statement of Financial Activities.

7 Staff costs

	2022	2021
	£	£
Wages and salaries	10,215,926	9,841,404
Social security costs	850,023	741,784
Pension costs (see below)	304,934	325,670
Agency and supply labour cost	1,787,624	220,661
	___	___
	13,158,507	11,129,519
Pension costs
	2022	2021
	£	£
Defined contribution schemes	253,223	273,959
Defined benefit scheme (Teachers)	51,711	51,711
	___	___
	304,934	325,670

The average number of employees (excluding agency and supply labour) during the year was as follows (full time equivalents):

		2022	2021
		No.	No.
Direct services	Residential services	399.9	363.6
	School	36.6	27.7
	Enrichment services	21.5	19.0
Support	Governance	6.1	4.7
	Finance and payroll	8.4	7.6
	People and culture	10.0	9.9
	Information and technology	5.7	5.2
	Premises and amenities	19.9	14.9
		______	______
		508.1	452.6

Hollybank Trust Report and Accounts 2021 / 2022

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Notes (continued)

7 Staff costs (continued)

The number of employees who received emoluments, including redundancy and taxable benefits, in excess of £60,000 are as follows:

			2022	2021
			No.	No.
£70,001 - £80,000	£70,001 - £80,000	£70,001 - £80,000	-	3
£80,001 - £90,000	£80,001 - £90,000	£80,001 - £90,000	3	-
£100,001 - £110,000	£100,001 - £110,000	£100,001 - £110,000	1	1

In respect of these employees, pension contributions of £21,376 (2021: £23,402) were payable by the Trust into defined contribution schemes. The key management personnel comprised of the Chief Executive, Executive Director of Finance, IT & Estates, Executive Director of People, Communications & Children’s Services and the Executive Director of Operations (the executive team). In respect of these employees, the total salaries and benefits amounted to £351,746 (2021: £334,320) plus pension contributions of £21,376 (2021: £23,402) .

8 Remuneration of Trustee Directors and related party transactions

None of the Trustee Directors of Hollybank Trustees Limited received any remuneration or expenses during the year in the course of their duties as Trustee Directors (2021: £nil) .

Mr JRH Sykes, a Trustee Director, is a consultant for the Trust’s solicitors, Lupton Fawcett LLP. During the year, the Trust paid for legal services, on an arm’s length basis, amounting to £32,127 (2021: £nil).

Dr V Thiyagesh, a Trustee Director, provided a paediatric service free of charge to the Trust ( 2021: £nil).

9 Tangible fixed assets

	Assets under the	Land and	Equipment,	Motor	Total
	course of	buildings	fixtures and	vehicles
	construction		fittings
	£	£	£	£	£
Cost or valuation
At beginning of year	59,950	21,603,884	5,299,650	981,918	27,945,042
Additions	4,371	28,520	220,483	-	253,374
Disposals	(59,590)	-	40,633	(86,823)	(105,780)
	___	___	___	___	___
At end of year	4,371	21,632,404	5,560,766	895,095	28,092,636
	___	___	___	___	___
Depreciation
At beginning of year	-	669,431	4,669,961	534,936	5,874,328
Charge for year	-	317,284	246,143	72,765	636,192
Disposals	-	-	-	(86,823)	(86,823)
	___	___	___	___	___
At end of year	-	986,715	4,916,104	520,878	6,423,697
	___	___	___	___	___
Net book value
At 31 March 2022	4,371	20,645,689	644,662	374,217	21,668,939
	___	___	___	___	___
At 31 March 2021	59,590	20,934,453	629,689	446,982	22,070,714

Hollybank Trust Report and Accounts 2021 / 2022

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Notes (continued)

9 Tangible fixed assets (continued)

The freehold land and buildings were revalued on 18 June 2019 by Ian Naylor MRICS Partner of Sanderson Weatherall, independent chartered surveyors. The valuation was prepared in accordance with the RICS Valuation – Professional Standards, January 2014 Global and UK edition, published by the Royal Institution of Chartered Surveyors (“RICS”) (“the Red Book”). The valuation has been prepared on the basis of Depreciated Replacement Cost (DRC), which is defined by UKVS 1.16 of The Red Book. DRC is defined as; ‘the current cost of replacing an asset with its modern equivalent asset less deductions for physical deterioration and all relevant forms of obsolescence and optimisation’. In accordance with paragraph 10.35 of the Charity SORP, the freehold land and buildings are to be valued on a rolling 5-year basis.

The historic cost of the freehold land and buildings at 31 March 2022 is £14,166,195 (2021: £ 14,166,195 ) .

Included in the net book value of freehold land and buildings is £5,815,000 (2021: £5,815,000) being the valuation of the land and this has not been depreciated.

10 Investments

Investments are held in COIF Charities Investment Fund – Income Units, a UK Fund, and are a permanent endowment.

	2022	2021
	£	£
Investments at market value at 31 March 2021	42,390	35,131
Increase in value	3,659	7,259
	___	___
Market value at 31 March 2022	46,049	42,390

11 Debtors

	2022	2021
	£	£
Trade debtors	1,110,390	856,350
Sundry debtors and prepayments	278,557	286,749
Income accruals	282,422	284,050
	___	___
	1,671,369	1,427,149

Hollybank Trust Report and Accounts 2021 / 2022

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Notes (continued)

12 Liabilities: amounts falling due within one year

		2022	2021
		£	£
Bank loans (note 13)		155,052	216,628
Trade creditors	Trade creditors	292,994	322,607
Financial liabilities designated at fair value through income and expenditure		8,120	15,678
Other creditors	Other creditors	1,257,722	1,453,667
Other taxes and social security		208,245	199,115
Accruals and deferred income		418,042	692,697
		___	___
		2,340,175	2,900,392
13	Liabilities: amounts falling due after more than one year
		2022	2021
		£	£
Bank loans (see below)	Bank loans (see below)	310,166	465,218
Financial liabilities designated at fair value through income and expenditure		-	16,159
		___	___
		310,166	481,377

The bank loans are secured by a first charge on the freehold land and buildings, which have a net book value at 31 March 2022 of £20,645,689. The bank loans are payable by instalments as follows:

	2022	2021
	£	£
Within one year (note 12)	155,052	216,628
In the second to fifth year	310,166	465,218
	___	___
	465,218	681,846

Fair value of financial instruments

The bank loan agreements allow for the set off of any credit balances on the Trust bank current accounts against two of the loans before the calculation of interest. The rate of interest chargeable on these bank loans is 1.76% over base rate.

Financial liabilities designated at fair value through income and expenditure relate to an interest rate swap financial derivative used to hedge the interest risk on two long term loans. The contract is due to mature in February 2024.

The fair value of the interest rate swap is estimated by discounting the difference between the cumulative contractual interest paid and the fair value of the cumulative interest paid at the maturity of the contract. The financial instrument has been identified as a level 2 instrument.

The instrument has a carrying liability of £8,120 as at 31 March 2022 (2021: £31,837). The reduction in the liability of £23,717 (2021: £22,835) has been recognised through the Statement of Financial Activities.

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Notes (continued)

14 Commitments

At 31 March 2022, the Trust had capital commitments of £nil (2021: £40,634).

At 31 March 2022, the Trust had outstanding commitments for future minimum lease payments under non-cancellable operating leases as follows:

Other Within one year In the second to fifth year Over five years	2022 £ 62,273 156,592 16,894 ___ 235,759	2021 £ 69,451 196,945 43,631 ___ 310,027

15 Funds

a) Analysis of net assets between funds

Restricted and endowment funds Fundraising account Huddersfield Charity for Children (previous registration number 221357) endowment fund Unrestricted funds For the year ended 31 March 2021: Restricted and endowment funds Fundraising account Huddersfield Charity for Children (previous registration number 221357) endowment fund Unrestricted funds	Tangible fixed assets Investments £ £ 630,820 - - 46,049 630,820 21,038,119 46,049 - ___ ___ 21,668,939 46,049 Tangible fixed assets Investments £ £ 645,268 - - 42,390 645,268 21,425,446 42,390 - ___ ___ 22,070,714 42,390

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Notes (continued)

15 Funds (continued)

b) Summary of fund movements

Restricted funds Fund balances brought forward £ Bradbury therapy centre 404,035 Transition projects appeal 19,176 Courtyard project 116,989 Legacy for Rowan Court 105,068 Other income received - Restricted funds 645,268 Endowment fund 42,390 Unrestricted funds 22,631,136 23,318,794 For the year ended 31 March 2021: Restricted funds Fund balances brought forward £ Bradbury therapy centre 415,639 Transition projects appeal 19,680 ELMS project Courtyard project 17,571 119,377 Legacy for Rowan Court 105,068 Other income received 19,369 Restricted funds 696,704 Endowment fund 35,131 Unrestricted funds 22,062,400 22,794,235	Incoming resources £ - - - - 25,679 25,679 1,695 15,896,553 15,923,927 Incoming resources £ - - - - - 42,160 42,160 1,238 15,090,689 15,134,087	Outgoing resources £ Revaluation of investment £ (11,604) - (504) - (2,340) - - - - - (14,448) - (1,695) 3,659 (15,795,569) - (15,811,712) 3,659 Outgoing resources £ Revaluation of investment £ (11,604) - (504) - (17,571) (2,388) - - - - - - (32,067) - (1,238) 7,259 (14,583,482) - (14,616,787) 7,259	Transfers £ Fund balances carried forward £ - 392,431 - 18,672 - 114,649 - 105,068 (25,679) - (25,679) 630,820 - 46,049 25,679 22,757,799 - 23,434,668 Transfers £ Fund balances carried forward £ - 404,035 - 19,176 - - - 116,989 - 105,068 (61,529) - (61,529) 645,268 - 42,390 61,529 22,631,136 - 23,318,794	Transfers £ Fund balances carried forward £ - 392,431 - 18,672 - 114,649 - 105,068 (25,679) - (25,679) 630,820 - 46,049 25,679 22,757,799 - 23,434,668 Transfers £ Fund balances carried forward £ - 404,035 - 19,176 - - - 116,989 - 105,068 (61,529) - (61,529) 645,268 - 42,390 61,529 22,631,136 - 23,318,794
				645,268 42,390 22,631,136
				23,318,794

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Notes (continued)

15 Funds (continued)

Bradbury therapy centre

A grant of £580,000 was received in 2006 from Sport England for construction of the Bradbury therapy centre which opened in 2006 and is being written off over the expected useful life of 50 years.

Transition projects appeal

A contribution of £25,000 was received in August 2008 towards the construction of Rowan Court and, in compliance with the terms of the award, is being written off over the property’s expected useful life of 50 years.

ELMS project

A contribution of £96,819 was received in 2015/16 towards the project for the redevelopment of rooms within the Roe Head building to install multi-sensory equipment for use by both adults and children.

Courtyard project

Contributions totalling £36,322 in 2019/20, £25,160 in 2018/19, £26,500 in 2017/18 and £32,375 in 2016/17 were received towards the project for the development of the courtyard for use mainly by adults and children.

Other income received

Restricted funds received and spent during 2021/22 amounted to £25,679. These have been transferred to unrestricted funds.

Legacy

Cheques to the value of £10,163 were received in 2019/20 and a cheque to the value of £94,905 was accounted for in 2018/19 from a legacy of a former member of staff. These monies are restricted for use at Rowan Court.

Details concerning the Endowment Fund can be found in the Trustee Directors’ annual report on page 22.

Unrestricted funds are funds that are free to be used in accordance with the charitable objects of the Trust. There are no designated funds as at 31 March 2022 (2021: £nil).

There are no other recognised gains or losses that have not been dealt with in the Statement of Financial Activities as set out on page 28.

Hollybank Trust Report and Accounts 2021 / 2022