**Registered number: 02955851 Charity number: 1050493**
## **HARLOW HEALTH CENTRES TRUST LIMITED**
**(A Company Limited by Guarantee)**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 DECEMBER 2022**
## **HARLOW HEALTH CENTRES TRUST LIMITED**
## **(A Company Limited by Guarantee)**
## **CONTENTS**
||Page|
|---|---|
|**Reference and Administrative Details of the Charity, its Trustees and Advisers**|1|
|**Trustees' Report**|2 - 6|
|**Trustees' Responsibilities Statement**|7|
|**Independent Auditors' Report on the Financial Statements**|8 - 11|
|**Statement of Financial Activities**|12|
|**Balance Sheet**|13 - 14|
|**Statement of Cash Flows**|15|
|**Notes to the Financial Statements**|16 - 31|
**HARLOW HEALTH CENTRES TRUST LIMITED**
## **(A Company Limited by Guarantee)**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2022**
|**Trustees**|D Fenny (resigned 9 January 2022)|
|---|---|
||P Larkin|
||S LeMay (resigned 15 July 2022)|
||B Jones|
||A Evans|
||L Martini (resigned 9 September 2022)|
||T Manzi (appointed 25 March 2022)|
||J Rowlinson (appointed 25 March 2022)|
|**Company registered**
**number**
02955851
**Charity registered**
**number**
1050493
**Registered office**
The Latton Bush Centre
Southern Way
Harlow
Essex
CM18 7BL
**Chief executive officer**
C Sizeland (until 30 June 2022)
G Roberts (from 5 April 2022)
**Independent auditors**
Price Bailey LLP
Chartered Accountants &
Statutory Auditors
Causeway House
1 Dane Street
Bishop's Stortford
Hertfordshire
CM23 3BT
**Bankers**
Lloyds Bank
Bank House
Primett Road
Stevenage
SG1 3EE
**Solicitors**
Foskett Marr Gadsby and Head
106/108 High Road
Loughton
Essex
IG10 4HN||
Page 1
## **HARLOW HEALTH CENTRES TRUST LIMITED**
## **(A Company Limited by Guarantee)**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2022**
The Trustees (who are also directors of the charity for the purposes of the Companies Act) present their annual report together with the audited financial statements of Harlow Health Centres Trust Limited (the charity) for the year ended 31 December 2022. The Trustees confirm that the Annual Report and financial statements of the charity comply with the current statutory requirements, the requirements of the charity's governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
Since the charity qualifies as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013 is not required.
## **OBJECTIVES AND ACTIVITIES**
Harlow Health Centres Trust owns and is responsible for six health centres in Harlow providing general practitioner (GP), dentistry, community services, and pharmaceutical and other specialist services. Since 1994 the Trust has undertaken a programme of redevelopment of existing centres, providing fit for purpose health facilities for the residents of Harlow. HHCT also provides grants and donations to support appropriate health initiatives and has a charitable mandate to expand its operations throughout Essex and Hertfordshire.
## **Vision and mission:**
The Trust’s mission is to provide high quality, community-based health centres and foster improved health outcomes through the targeted use of grants and donations. This will be achieved through the delivery of the Strategy.
Our corporate values are:
- We put our social and charitable health objectives at the heart of everything we do.
- We seek to achieve value for money by maximising the health-related outcomes resulting from the resources used.
- We work in partnership with statutory, private, community and voluntary organisations to achieve
- improved health outcomes for local people.
- We value and promote innovation and excellence.
- We value and promote equality and social inclusion in service delivery, partnership working and employment.
Our Corporate aims, objectives and Action Plan were developed following a programme of analysis and reviewed during 2020. HHCT had five overarching aims and objectives for 2022. These were to:
1) Maintain existing HHCT health centres to provide high quality and cost-effective facilities for patients and health professionals.
- 2) Work in partnership with Local Authorities, NHS Clinical Commissioning Groups, local hospitals, hospices, care homes, pharmacies, young people’s groups and health professionals and voluntary groups to identify local needs and offer expanded facilities in the Harlow area and other areas of Essex
- and Hertfordshire.
- 3) The Trustees relaunched the Trust’s Grants and Donations programme to offer financial assistance to organisations in Harlow, West Essex and East Hertfordshire. This was budgeted at £123,000 per annum.
- 4) Increase the profile of HHCT and its successes to increase future capacity for innovative health initiatives and partnership working.
5) Improve succession planning to ensure that HHCT can continue to deliver its health objectives beyond the life of the Strategy.
The Board monitor the Action Plan which outlines the agreed steps to achieve the desired strategy and how progress is being made. In the achievements section, there is a summary of the state of play of those actions and their progress.
Page 2
## **HARLOW HEALTH CENTRES TRUST LIMITED**
## **(A Company Limited by Guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022**
## **Grants and donations:**
Organisations and individuals may apply for grants which promote the objectives of the charity. Applications are considered by the trustees who will, if required, seek specialist advice and consult with the appropriate bodies. The Trustees have agreed to budget grants and donations in 2022 at £123,000 per annum.
## **ACHIEVEMENTS AND PERFORMANCE**
Good progress has been made against the Action Plan for this Strategy period.
## **Key achievements:**
The Strategy document sets out HHCT’s journey and key achievements with a yearly refresh. The key achievements for 2022 strategy implementation are set out below.
End of year surplus and plans for the future:
The surplus before realised and unrealised gains in 2022 excluding grants and depreciation was £984,978 compared with £1,133,590 for the year ended 31 December 2021.
To ensure that enough liquid funds are available the Trust will be retaining reserves to ensure that the start-up and progress of any redevelopment can proceed smoothly. This obviously has an impact on the reserves and grants policy.
## **Investment policy and returns**
The Trust has an ongoing policy of improving and updating its premises. These projects are always carefully costed and appraised. The objective is always to ensure that the capital expense supports maintaining and improving our facilities and is always funded by rental returns.
## **Loan repayments**
The annual surplus is also used to repay loans (capital and interest) raised for redeveloping the various premises.
## **FINANCIAL REVIEW**
## **Going concern**
All of our tenants are related to the healthcare sector. The majority of tenants have likewise continued to operate post year end and we do not expect there to be a fall in rental cash inflows, the majority if not all is expected to be received by the end of the financial year. The Directors believe that by keeping open lines of communication with tenants, closely monitoring cash outflows and high levels of liquidity, this should allow the company to continue trading for the foreseeable future and therefore deemed it appropriate to prepare the financial statements on the going concern basis.
## **Reserves**
The Trust maintains bank balances and sufficient funds at short notice to uphold the level of expenditure on management and running expenses for a period of at least nine months. When the Trust redevelops its health centres significant upfront funding is required which initially has to be provided from the cash reserves of the Trust. Therefore, for any redevelopment the Trust has to retain significant reserves to fund these initial costs until loan drawdowns are received. Loan repayments and interest due are covered by rental income. The reserves policy is reviewed annually and at the end of the financial year reserves are retained to aid and progress future developments.
To finance the redevelopment program of the health centres the Trust uses loan finance as set out in note 16 and 17. As a result the trust has to make significant surpluses to fund the annual repayment of these loans.
Page 3
## **HARLOW HEALTH CENTRES TRUST LIMITED**
## **(A Company Limited by Guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022**
## **Governance and internal control**
Two Trustees retire each year and may be re-elected. The financial position and cash-flow reports and project costings are presented to the Trustees for their examination at their regular meetings. The Trust is governed by its board of trustees which meet bimonthly to consider all aspects of the organisation’s policies and activities.
Mrs. Carol Sizeland was Chief Executive with Mr. Geoffrey Roberts sharing the role from April 2022 to support a smooth transition, in preparation for Mrs. Sizeland’s impending retirement. They were jointly responsible for the day-to-day management of the charity. Members of the board are also available on an ad hoc basis as required. As stated in note 11 all board members are unpaid.
## **Benefit statement**
The Trust was established to provide and maintain primary health care premises for the people of Harlow. It has been able to redevelop and build six new premises providing modern state of the art facilities. This has also made possible expansion of further health care services across Harlow.
Since 2001 the Trust has been able to make grants and donations exceeding £1,800,000 to promote health initiatives and care within the community. The Trust re-launched its grants policy in March 2022.
The Trustees have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission in exercising any powers or duties to which the guidance is relevant.
## **Annual Review**
An annual review is prepared on each occasion an open AGM is held.
## **PLANS FOR FUTURE PERIODS**
## **Future plans**
The Trust continues to work with Hertfordshire and West Essex Integrated Care Board (ICB), Harlow Council (HDC) and NHS England to develop health facilities on the periphery of Harlow possibly into Hertfordshire.
A succession plan to replace our CEO was undertaken and the transition successfully managed.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Constitution**
The Charity is a charitable company (No. 02955851) limited by guarantee and was set up in 1995. It is registered with the Charity Commission, No. 1050493. It is governed by its Memorandum and Articles of Association. Its objects are primarily to provide accommodation and facilities for health services, including nursing homes, and additionally to support health related activities for the benefit of residents of Harlow and elsewhere in the counties of Essex and Hertfordshire. The charity’s address is Harlow Health Centres Trust Limited, The Latton Bush Centre, Southern Way, Harlow, Essex, CM18 7BL.
## **PAY POLICY AND SENIOR STAFF**
## **Structure**
The Trust’s structure is simple and consists of a Board of five Trustees (including a Chair), a Chief Executive Officer (CEO), an Operations Manager and an Office Manager. The services of several specialist consultants are used as and when required but are not employed directly by the Trust.
Page 4
**HARLOW HEALTH CENTRES TRUST LIMITED**
## **(A Company Limited by Guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022**
## **Governance**
The Board of Trustees have responsibility for the Governance function. The Board meets bi-monthly and holds an annual AGM. Trustees are responsible for ensuring that the Trust continues to fulfil its mission and charitable remit, delivers the Corporate Strategy and operates in accordance with the Charity Commission and all other statutory regulations and requirements.
## **Method of appointment or election of trustees**
Any additional trustees are appointed by the existing board members. The Trustees would look for individuals with an interest in the aims and objectives of the charity, but also with a skillset that can add to the current mix of experience. A new Trustee would have the terms governing the Trust and the policies and objectives explained to them at a meeting with the existing Trustees.
## **Employee involvement and employment of the disabled**
Employees have been consulted on issues of concern to them by means of regular consultative committee and staff meetings and have been kept informed on specific matters directly by management.
The charity has implemented a number of detailed policies in relation to all aspects of personnel matters with the organisation and employees having access to HR support from an external provider.
In accordance with the charity’s equal opportunities policy, the charity has long established fair employment practices in the recruitment, selection, retention and training of disabled staff.
Full details of these policies are available from the charity's office.
## **Valuation of assets**
The Trust had a valuation of all its properties undertaken by Aitchison Raffety, a RICS registered company. Within the year to 31st December 2021, the valuation of its assets increased to £35,100,30 at this time. The Trustees are of the opinion that the property values have not materially changed since the last valuation.
This report will be renewed in 2023.
## **Risk management**
The Trust reviews all risks via a S.W.O.T process, as part of the strategy update. The weakness and threats identified form the risks facing the trust. Actions are detailed for all these risks in strategic plan. Each risk is owned by a Trustee or the CEO, and progress is monitored.
## **Remuneration**
The Trust reviews the remuneration of employees annually. Salary increases and bonus payments are agreed following the appraisal of both organisational and individual performance against relevant objectives and targets. Organisational objectives and targets are set out in the Corporate Strategy and related Action Plan. Most individual objectives and targets derive from the Corporate Strategy, are agreed at the beginning of each year and are documented in individual appraisal documents on a minimum six-monthly basis. The Trustees conduct an annual salary survey of what the NHS and Charity sector is paying for comparable jobs to ensure external equity.
## **Disclosure of information to Auditor**
Each of the persons who are Trustees at the time when this Trustees' Report is approved has confirmed that so far as that Trustee is aware, there is no relevant audit information of which the charitable company's auditors are unaware, and that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be
Page 5
## **HARLOW HEALTH CENTRES TRUST LIMITED**
## **(A Company Limited by Guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022**
aware of any information needed by the charitable company's auditors in connection with preparing their report and to establish that the charitable company's auditors are aware of that information.
## **Auditor**
A resolution proposing that Price Bailey LLP be re-appointed as auditors of the charity will be put to the Annual General Meeting.
In preparing this report, the Trustees have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.
Approved by order of the members of the board of Trustees and signed on their behalf by:
**B Jones** Trustee Date: 13/07/2023
Page 6
## **HARLOW HEALTH CENTRES TRUST LIMITED**
## **(A Company Limited by Guarantee)**
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2022**
The Trustees (who are also the directors of the Charity for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Group and the Charity and of thier incoming resources and application of resources, including thier income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
- ! select suitable accounting policies and then apply them consistently;
- ! observe the methods and principles of the Charities SORP (FRS 102);
- ! make judgments and accounting estimates that are reasonable and prudent;
- ! state whether applicable UK Accounting Standards (FRS 102) 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 Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Group and the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on its behalf by:
**B Jones** Trustee Date: 13/07/2023
Page 7
**HARLOW HEALTH CENTRES TRUST LIMITED**
## **(A Company Limited by Guarantee)**
## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HARLOW HEALTH CENTRES TRUST LIMITED**
## **Opinion**
We have audited the financial statements of Harlow Health Centres Trust Limited (the 'charity') for the year ended 31 December 2022 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes, including a summary of 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 charitable company's affairs as at 31 December 2022 and of its incoming resources and application of resources, including its income and expenditure for the year then ended;
- ! have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- ! have been prepared in accordance with the requirements of the Companies Act 2006.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
Page 8
**HARLOW HEALTH CENTRES TRUST LIMITED**
## **(A Company Limited by Guarantee)**
## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HARLOW HEALTH CENTRES TRUST LIMITED (CONTINUED)**
## **Other information**
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The Trustees are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
## **Opinion on other matters prescribed by the Companies Act 2006**
In our opinion, based on the work undertaken in the course of the audit:
- ! the information given in the Trustees' Report for the financial year for which the financial statements are prepared is consistent with the financial statements.
- ! the Trustees' Report has been prepared in accordance with applicable legal requirements.
## **Matters on which we are required to report by exception**
In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report.
We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:
- ! adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- ! the financial statements are not in agreement with the accounting records and returns; or
- ! certain disclosures of Trustees' remuneration specified by law are not made; or
- ! we have not received all the information and explanations we require for our audit; or
- ! the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Trustees' Report and from the requirement to prepare a Strategic Report.
## **Responsibilities of trustees**
As explained more fully in the Trustees' Responsibilities Statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
Page 9
**HARLOW HEALTH CENTRES TRUST LIMITED**
## **(A Company Limited by Guarantee)**
## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HARLOW HEALTH CENTRES TRUST LIMITED (CONTINUED)**
## **Auditors' responsibilities for the audit of the financial statements**
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an 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 extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
- 1) Enquiry of management concerning any potential or actual litigation or claims brought against the entity, along with enquiring as to whether there were any known or suspected instances of of non compliance with laws and regulations. Where there were any suspected instances of non-compliance identified by our work, enquiries of senior management and those charged with governance was made and suitable evidence was obtained to confirm our understanding and whether this affected our stautory or regulatory duties.
- 2) Reviewing minutes of meeting of those charges with governance.
- 3) Performing audit work over the risk of management override and controls, such as reviewing journal entries and reviewing property valuation. Assessing accounting policies for management bias.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.
Page 10
**HARLOW HEALTH CENTRES TRUST LIMITED**
## **(A Company Limited by Guarantee)**
## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HARLOW HEALTH CENTRES TRUST LIMITED (CONTINUED)**
## **Use of our report**
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditors' 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 charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.
## **Helena Wilkinson BSc FCA DChA (Senior Statutory Auditor)**
for and on behalf of **Price Bailey LLP** Chartered Accountants & Statutory Auditors Causeway House 1 Dane Street Bishop's Stortford Hertfordshire CM23 3BT
Date: 26 July 2023
Page 11
## **HARLOW HEALTH CENTRES TRUST LIMITED**
## **(A Company Limited by Guarantee)**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2022**
|Note
**Income from:**
Charitable activities
3
Investments
4
**Total income**
**Expenditure on:**
Raising funds
5
Charitable activities
7
**Total expenditure**
**Net movement in funds before other**
**recognised gains**
**Other recognised gains:**
Gains on revaluation of fixed assets
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|Restricted
funds
2022
£
-
-
-
-
-
-
-
-
-
2,872,704
-
2,872,704|Unrestricted
funds
2022
£
2,887,533
973
2,888,506
-
2,024,684
2,024,684
863,822
-
863,822
22,702,798
863,822
23,566,620|Total
funds
2022
£
2,887,533
973
2,888,506
-
2,024,684
2,024,684
863,822
-
863,822
25,575,502
863,822
26,439,324|Total
funds
2021
£
2,714,488
69|
|---|---|---|---|---|
|||||2,714,557|
|||||45,125
1,616,763|
|||||1,661,888|
|||||1,052,669
1,938,788|
|||||2,991,457|
|||||22,584,045
2,991,457|
|||||25,575,502|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 16 to 31 form part of these financial statements.
Page 12
## **HARLOW HEALTH CENTRES TRUST LIMITED (A Company Limited by Guarantee) REGISTERED NUMBER: 02955851**
## **BALANCE SHEET AS AT 31 DECEMBER 2022**
|Note
**Fixed assets**
Tangible assets
12
Fixed asset investments
14
Investment property
13
**Current assets**
Debtors
15
Cash at bank and in hand
Creditors: amounts falling due within one
year
16
**Net current assets**
**Total assets less current liabilities**
Creditors: amounts falling due after more
than one year
17
**Net assets excluding pension asset**
**Total net assets**
**Charity funds**
Restricted funds
18
Unrestricted funds
General funds
18
Programme related investment revaluation
18
Total unrestricted funds
18
**Total funds**|504,214
1,762,514
2,266,728
(1,807,249)
9,760,518
13,806,102|2022
£
14,652
100
35,183,510
35,198,262
459,479
35,657,741
(9,218,417)
26,439,324
26,439,324
2,872,704
23,566,620
26,439,324|486,874
1,766,927
2,253,801
(1,818,806)
8,896,696
13,806,102|2021
£
18,315
100
35,100,300
35,118,715
434,995
35,553,710
(9,978,208)
25,575,502
25,575,502
2,872,704
22,702,798
25,575,502|
|---|---|---|---|---|
Page 13
## **HARLOW HEALTH CENTRES TRUST LIMITED**
# **(A Company Limited by Guarantee) REGISTERED NUMBER: 02955851**
# **BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2022**
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
## **B Jones**
Trustee Date: 13/07/2023
The notes on pages 16 to 31 form part of these financial statements.
Page 14
## **HARLOW HEALTH CENTRES TRUST LIMITED**
## **(A Company Limited by Guarantee)**
## **STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2022**
|**Cash flows from operating activities Note**
Net cash used in operating activities 20
**Cash flows from investing activities**
Purchase of programme related fixed assets
**Net cash used in investing activities**
**Cash flows from financing activities**
Cash inflows from new borrowing
Repayments of borrowing
Mortgage interest
**Net cash used in financing activities**
**Change in cash and cash equivalents in the year**
Cash and cash equivalents at the beginning of the year
**Cash and cash equivalents at the end of the year**|2022
£
1,451,452
(83,210)
(83,210)
-
(766,167)
(606,488)
(1,372,655)
(4,413)
1,766,927
1,762,514|2021
£
2,004,101
(611,869)
(611,869)
1,500,000
(1,451,944)
(642,967)
(594,911)
797,321
969,606
1,766,927|
|---|---|---|
The notes on pages 16 to 31 form part of these financial statements
Page 15
**HARLOW HEALTH CENTRES TRUST LIMITED**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **1. General information**
Harlow Health Centres Trust is a charity, incorporated in England and Wales. Its Registered Office is The Latton Bush Centre, Southren Way, Harlow, Essex, CM18 7BL. Its Registered Number is 02955851 Charity Number 1050493.
## **2. Accounting policies**
## **2.1 Basis of preparation of financial statements**
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Harlow Health Centres Trust Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The charity's functional currency is pounds sterling (£).
## **2.2 Company Status**
The charity is a company limited by guarantee. The members of the company are the Trustees named on page 1. In the event of the charity being wound up, the liability in respect of the guarentee is limited to £1 per member of the charity.
## **2.3 Fund Accounting**
General funds are unrestricted funds which are available for use at the descretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Designated funds are unrestricted funds available for the general purpose of the organisation which the Trustees have set aside for a particualr purpose.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes of the financial statements.
## **2.4 Going concern**
The Trustees assess whether the use of going concern is appropriate, i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the abilitiy of the charity to continue as a going concern. Any future plans will be financed from future rentals, whereby all tenants are related to the healthcare sector. The Trustees therefore deem it appropriate to preapre the financial statements on the going concern basis.
## **2.5 Income**
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
Page 16
**HARLOW HEALTH CENTRES TRUST LIMITED**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **2. Accounting policies (continued)**
## **2.6 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.
Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
All expenditure is accounted for on an accrual basis. All expenses including support costs and governance costs are allocated to the applicable expenditure headings.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
## **2.7 Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
## **2.8 Taxation**
The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
## **2.9 Tangible fixed assets and depreciation**
Tangible fixed assets costing £1,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, on a reducing balance basis.
Depreciation is provided on the following bases:
|Plant and machinery|- 20% reducing balance|
|---|---|
|Fixtures and fittings|- 20% reducing balance|
Page 17
**HARLOW HEALTH CENTRES TRUST LIMITED**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **2. Accounting policies (continued)**
## **2.10 Investments**
Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the consolidated statement of financial activities.
The subsidiary is shown at cost.
Investments in subsidiaries are valued at cost less provision for impairment.
Investments held as fixed assets (programme related investments) are shown at thier open market value for existing use as indicated in note 13.
## **2.11 Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **2.12 Cash at bank and in hand**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **2.13 Liabilities**
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
## **2.14 Financial instruments**
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their fair value as at the balance sheet date. All financial instruments of the charity are measured at cost with the exception of programme related investments which are shown at their open market value. The value of programme related investments as well as their original cost is stated in note 13.
Financial assets include investments in the portfolio, the bank balances, trade debtors, accrued income and other debtors but exclude prepayments and taxation.
Financial liabilities include trade creditors, other creditors, accruals and deferred income but exclude social security and other taxes due.
## **2.15 Operating leases**
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight-line basis over the lease term.
## **2.16 Pensions**
The charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the charity to the fund in respect of the year.
Page 18
## **HARLOW HEALTH CENTRES TRUST LIMITED**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **3. Income from charitable activities**
|Income from charitable activities - Provision of premises for health services
Income from charitable activities - Provision of premises for health services|Unrestricted
funds
2022
£
2,887,533
Unrestricted
funds
2021
£
2,714,488|Total
funds
2022
£
2,887,533|
|---|---|---|
|||Total
funds
2021
£
2,714,488|
## **4. Investment income**
|Bank Interest
Bank Interest|Unrestricted
funds
2022
£
973
Unrestricted
funds
2021
£
69|Total
funds
2022
£
973|
|---|---|---|
|||Total
funds
2021
£
69|
Page 19
## **HARLOW HEALTH CENTRES TRUST LIMITED**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **5. Expenditure on raising funds**
## **Fundraising trading expenses**
|Unrestricted
funds
2021
£
Allocated centrally incurred fundraising and governance costs
45,125|Total
funds
2022
£
-|
|---|---|
||Total
funds
2021
£
45,125|
## **6. Analysis of grants**
|Grants, Other health promotion activity
Grants, Other health promotion activity|Grants to
Institutions
2022
£
117,493
Grants to
Institutions
2021
£
68,664|Total
funds
2022
£
117,493|
|---|---|---|
|||Total
funds
2021
£
68,664|
Page 20
**HARLOW HEALTH CENTRES TRUST LIMITED**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **Grant breakdown**
|Harlow rugby club
St Clares Hospice
BASICS Essex
Small Acts of Kindness
Herts Schools Outreach
Action for Family Carers
Citizens advice
Harlow Education Consortium
Youth Talk
Other grants|2022
£
6,000
10,000
5,000
8,000
10,000
8,000
5,000
20,000
10,000
35,493
117,493|2021
£
6,000
8,500
-
-
-
-
-
-
-
54,164|
|---|---|---|
|||68,664|
## **7. Analysis of expenditure on charitable activities Summary by fund type**
|Provision of premises for health services
Other health promotion activity
Provision of premises for health services
Other health promotion activity|Unrestricted
funds
2022
£
1,907,191
117,493
2,024,684
Unrestricted
funds
2021
£
1,548,099
68,664
1,616,763|Total
2022
£
1,907,191
117,493|
|---|---|---|
|||2,024,684|
|||Total
2021
£
1,548,099
68,664|
|||1,616,763|
Page 21
**HARLOW HEALTH CENTRES TRUST LIMITED**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **8. Analysis of expenditure on charitable activities**
Summary by expenditure type
|Provision of premises for health services
Other health promotion activity
**Total 2022**
Provision of premises for health services
Other health promotion activity
Total 2021
**Analysis of direct costs**|Activities
undertaken
directly
2022
£
1,735,197
-
1,735,197
Activities
undertaken
directly
2021
£
1,425,307
-
1,425,307|Grant
funding of
activities
2022
£
-
117,493
117,493
Grant
funding of
activities
2021
£
-
68,664
68,664|Support
costs
2022
£
171,994
-
171,994
Support
costs
2021
£
122,792
-
122,792|Total
funds
2022
£
1,907,191
117,493|
|---|---|---|---|---|
|||||2,024,684|
|||||Total
funds
2021
£
1,548,099
68,664|
|||||1,616,763|
||||||
|Staff costs
Building maintenance
Motor vehicle allowance
Valuations
Legal fees
Depreciation
Mortgage interest
Services charge expenditure
Bank Charges|Total
funds
2022
£
208,564
259,504
21,140
13,549
70,757
3,663
606,448
549,849
1,723
1,735,197|Total
funds
2021
£
138,434
49,565
9,865
13,556
46,995
12,526
642,967
480,560
30,839|
|---|---|---|
|||1,425,307|
Page 22
## **HARLOW HEALTH CENTRES TRUST LIMITED**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Analysis of support costs**
|Motor vehicle allowance
Running expenses
Rent / insurance
Audit and accountancy
Bad debt
**Total 2022**|Governance
2022
£
-
-
-
10,000
-
10,000|Support
costs
2022
£
115
107,315
25,903
10,379
18,282
161,994|Total
funds
2022
£
115
107,315
25,903
20,379
18,282|
|---|---|---|---|
||||171,994|
|Running expenses
Audit and accountancy
Rent / insurance|Governance
2021
£
-
7,500
-
7,500|Support
costs
2021
£
58,587
13,639
43,066
115,292|Total
funds
2021
£
58,587
21,139
43,066|
|---|---|---|---|
||||122,792|
## **9. Auditors' remuneration**
The auditors' remuneration amounts to an auditor fee of £12,462 _(_ 2021 _-_ £7,500 _)_ , and payroll and administrative services of £4,859 (2021 - £1,110).
## **10. Staff costs**
|Wages and salaries
Social security costs
Contribution to defined contribution pension schemes|2022
£
161,220
28,727
18,617
208,564|2021
£
108,158
15,584
14,692|
|---|---|---|
||||
|||138,434|
The average number of persons employed by the Charity during the year was as follows:
||2022|2021|
|---|---|---|
||No.|No.|
|Employees|3|2|
Page 23
## **HARLOW HEALTH CENTRES TRUST LIMITED**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **10. Staff costs (continued)**
The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:
|||2022|2021|
|---|---|---|---|
|||No.|No.|
|In the band £80,001|- £90,000|1|1|
The key management personnel of the entity comprises of the Chief Executive. The total employee benefits of the key management personnel of the entity was £152,852 (2021: £96,191). Included within this figure is employer pension contributions of £13,708 (2021: £10,255).
## **11. Trustees' remuneration and expenses**
During the year, no Trustees received any remuneration or other benefits (2021 - £NIL).
During the year ended 31 December 2022, reimbursement of Trustees expenses incurred during the cause of perfoming their duties amounted to £924 (2021 - £NIL), £124 related to mileage claims with the remainder relating to a gift from the Trust to the retiring CEO.
## **12. Tangible fixed assets**
|**Cost or valuation**
At 1 January 2022
At 31 December 2022
**Depreciation**
At 1 January 2022
Charge for the year
At 31 December 2022
**Net book value**
At 31 December 2022
At 31 December 2021|Fixtures and
fittings
£
492,266
492,266
475,599
3,333
478,932
13,334
16,667|Other fixed
assets
£
88,982
88,982
87,334
330
87,664
1,318
1,648|Total
£
581,248|
|---|---|---|---|
||||581,248|
||||562,933
3,663|
||||566,596|
||||14,652|
||||18,315|
Page 24
## **HARLOW HEALTH CENTRES TRUST LIMITED**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **13. Programme Related Investments**
|**Valuation**
At 1 January 2022
Additions
At 31 December 2022|Freehold
investment
property
£
35,100,300
83,210|
|---|---|
||35,183,510|
The most recent valuations were made by Aitchison Raffety, a RICS registered company, for the year ended 31 December 2021. This was carried out on an open market value for existing use basis. The Trustees have not undertaken a formal valuation within the current year but are of the opinion that the properties carrying values remain unchanged since the last formal valuation was carried out.
The historic cost of the properties is £20,003,791 (2021: £19,920,581).
## **14. Fixed asset investments**
|**Cost or valuation**
At 1 January 2022
At 31 December 2022
**Net book value**
At 31 December 2022
At 31 December 2021|Investments
in subsidiary
companies
£
100|
|---|---|
||100|
||100|
||100|
Page 25
## **HARLOW HEALTH CENTRES TRUST LIMITED**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **Principal subsidiaries**
The following was a subsidiary undertaking of the Charity:
|**Name**|**Company**|**Holding**|
|---|---|---|
||**number**||
|Harlow Resource Centre Limited|10457685|100%|
Harlow Resource Centre Limited was dormant during the financial year and has £NIL net assets as at 31 December 2022 (2021: £NIL).
## **15. Debtors**
|**Due within one year**
Trade debtors
Other debtors|2022
£
481,996
22,218
504,214|2021
£
439,521
47,353|
|---|---|---|
||||
|||486,874|
## **16. Creditors: Amounts falling due within one year**
|Bank loans
Other taxation and social security
Accruals and deferred income
Grants Payable
**Movement of Deferred Income**
Deferred income at 1 January 2022
Resources deferred during the year
Amounts released from previous periods|2022
£
812,511
44,848
920,172
29,718
1,807,249
2022
£
881,825
851,470
(881,825)
851,470|2021
£
818,887
69,272
930,647
-|
|---|---|---|
||||
|||1,818,806|
|||2021
£
918,813
881,825
(918,813)|
||||
|||881,825|
Page 26
## **HARLOW HEALTH CENTRES TRUST LIMITED**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **17. Creditors: Amounts falling due after more than one year**
|Bank loans
Included within the above are amounts falling due as follows:
**Between one and five years**
Bank loans
**After five years**
Bank loans|2022
£
9,218,417
3,582,807
5,635,610|2021
£
9,978,208|
|---|---|---|
|||4,205,767|
|||5,772,441|
The various bank loans are secured by a fixed and floating charge over the assets of the charity and first legal charge on the programme related investments. The loans are with Aviva Private Finance and Lloyds Bank. These bank loans are at fixed interest rates of 5.34% for £815K (2021: £871K), 5.4% for £5,042K (2021: £5,249K), 5.93% for £800K (2021: £912K), 6.5% for £556K (2021: £680K), 7.05% for £1,432K (2021 £1,650K) and 5.84% for £1,385K (2021: £1,452K) expiring in Apr 2025, Feb 2039, Sept 2028, Sept 2026, March 2028 and Feb 2026 respectively.
Page 27
**HARLOW HEALTH CENTRES TRUST LIMITED**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **18. Statement of funds**
## **Statement of funds - current year**
|||||||Balance at|
|---|---|---|---|---|---|---|
||Balance at 1|||||31|
||January||||Gains/|December|
||2022|Income|Expenditure||(Losses)|2022|
||£|£||£|£|£|
|**Unrestricted funds**|||||||
|Unrestricted income funds|8,896,696|2,888,506|(2,024,684)||-|9,760,518|
|Programme related investment|||||||
|revaluation reserve|13,806,102|-|-||-|13,806,102|
||22,702,798|2,888,506|(2,024,684)||-|23,566,620|
|**Restricted funds**|||||||
|Freehold Properties|2,872,704|-|-||-|2,872,704|
|**Total of funds**|25,575,502|2,888,506|(2,024,684)||-|26,439,324|
|**Statement of funds - prior year**|||||||
|||||||Balance at|
||Balance at|||||31|
||1 January||||Gains/|December|
||2021|Income|Expenditure||(Losses)|2021|
||£|£||£|£|£|
|**Unrestricted funds**|||||||
|Unrestricted income funds|7,844,027|2,714,557|(1,661,888)||-|8,896,696|
|Programme related investment|||||||
|revaluation reserve|11,867,314|-|-||1,938,788|13,806,102|
||19,711,341|2,714,557|(1,661,888)||1,938,788|22,702,798|
|**Restricted funds**|||||||
|Freehold Properties|2,872,704|-|-||-|2,872,704|
|**Total of funds**|22,584,045|2,714,557|(1,661,888)||1,938,788|25,575,502|
Page 28
**HARLOW HEALTH CENTRES TRUST LIMITED**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **19. Analysis of net assets between funds**
## **Analysis of net assets between funds - current year**
|Tangible fixed assets
Fixed asset investments
Investment property
Current assets
Creditors due within one year
Creditors due in more than one year
**Total**
**Analysis of net assets between funds - prior year**
Tangible fixed assets
Fixed asset investments
Investment property
Current assets
Creditors due within one year
Creditors due in more than one year
**Total**|Restricted
funds
2022
£
-
-
2,872,704
-
-
-
2,872,704
Restricted
funds
2021
£
-
-
2,872,704
-
-
-
2,872,704|Unrestricted
funds
2022
£
14,652
100
32,310,806
2,266,728
(1,807,249)
(9,218,417)
23,566,620
Unrestricted
funds
2021
£
18,315
100
32,227,596
2,253,801
(1,818,806)
(9,978,208)
22,702,798|Total
funds
2022
£
14,652
100
35,183,510
2,266,728
(1,807,249)
(9,218,417)
26,439,324
Total
funds
2021
£
18,315
100
35,100,300
2,253,801
(1,818,806)
(9,978,208)
25,575,502|
|---|---|---|---|
Page 29
## **HARLOW HEALTH CENTRES TRUST LIMITED**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **20. Reconciliation of net movement in funds to net cash flow from operating activities**
|Net income for the year (as per Statement of Financial Activities)
**Adjustments for:**
Depreciation charges
Loss on the sale of fixed assets
Decrease/(increase) in debtors
Increase/(decrease) in creditors
Mortgage Interest
**Net cash provided by operating activities**
**21.**
**Analysis of cash and cash equivalents**
Cash in hand
**Total cash and cash equivalents**|2022
£
863,822
3,663
-
(17,340)
(5,181)
606,488
1,451,452
2022
£
1,762,514
1,762,514|2021
£
1,052,669|
|---|---|---|
|||12,526
45,038
199,239
51,662
642,967|
||||
|||2,004,101|
|||2021
£
1,766,927|
||||
|||1,766,927|
## **22. Analysis of changes in net debt**
|Cash at bank and in hand
Debt due within 1 year
Debt due after 1 year|At 1 January
2022
£
1,766,927
(818,887)
(9,978,208)
(9,030,168)|Cash flows
£
(4,413)
6,376
759,791
761,754|At 31
December
2022
£
1,762,514
(812,511)
(9,218,417)|
|---|---|---|---|
||||(8,268,414)|
## **23. Pension commitments**
The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the charity to the fund and amounted to £15,121 (2021: £11,318). Contributions totalling £NIL (2021: £NIL) were payable to the fund at the balance sheet date and are included in creditors.
Page 30
## **HARLOW HEALTH CENTRES TRUST LIMITED**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **24. Operating lease commitments**
At 31 December 2022 the Charity had commitments to make future minimum lease payments under noncancellable operating leases as follows:
|Not later than 1 year
Later than 1 year and not later than 5 years|2022
£
9,227
9,975
19,202|2021
£
11,154
5,177|
|---|---|---|
|||16,331|
## **25. Operating lease recievables - Charity as lessor**
The Charity rents out its properties under operating leases. At the balance sheet date the following future minimum lease amounts are contractually receivable from tenants:
|Amounts due within one year
Amounts due between one and five years
Amounts due after five years|2022
£
2,245,471
5,348,091
4,475,595
12,069,157|2021
£
1,468,852
5,583,251
5,709,287|
|---|---|---|
|||12,761,390|
## **26. Related party transactions**
During the year the charity made payments of £544 to E Roberts, the daughter of Geoff Roberts, CEO, for the performance of administrative services, (£Nil in 2021).
During the year the charity made payments of £304,720 to Valentis Propery & Maintenance Services Ltd, the company of B Sizeland, the son of C Sizeland, CEO, for maintenance services, (£132,012 in 2021).
During the year grants were paid of £20,000 to Harlow Education Consortium. M Evans, spouse of Trustee A Evans is a director of Harlow Education Consortium, (£Nil in 2021).
During the year grants were paid of £10,000 to St Clares Hospice. J Rowlinson, a Trustee is also a director of the Hospice.
There were no other related party transactions.
Page 31