2022-03-31-accounts - Carers Trust Heart Of England

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

ANNUAL REVIEW 2021/22

CARERS TRUST HEART OF ENGLAND (A COMPANY LIMITED BY GUARANTEE) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 COMPANY NUMBER: 03206963 CHARITY NUMBER: 1057024

TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2022

Carers Trust Heart of England Contents of the Annual Report and Accounts For year ended 31 March 2022

Page Report of the Trustees 2-11 Independent Auditors Report 12-14 Statement of Financial Activities 15 Balance Sheet 16 Notes to the Financial Statements 17-27

Carers Trust Heart of England Report of the Trustees

The Trustees who are also Directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2022. The Trustees have adopted the provisions of the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to the charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

Carers Trust Heart of England is a registered charity, no. 1057024, a company limited by guarantee, no. 03206963 and a Network Partner of Carers Trust, a national charity promoting the rights of Carers through working with other charities, the government and network partners throughout the UK.

Welcome

This year has seen us continue to work through the ongoing impact and fallout of COVID-19. Attempts to navigate our way out of the pandemic were affected by the Omicron variant, however despite the ongoing challenges our team were able to continue working effectively to meet and as far as possible exceed our contractual obligations, whilst working creatively to meet the needs of carers and those who are cared for.

Whilst we had continued to operate throughout COVID our offices did close and much of our delivery moved online, it has been wonderful in the last few months of the year to see staff returning to their office bases and to observe the amount of face-to-face delivery in our community services increasing.

We are incredibly grateful to all of our staff who continued to work in front facing roles throughout the whole of the pandemic, these were incredibly challenging times and our community team continued to support and care for the most vulnerable people within our communities.

We are moving into a new operating environment where we have been able to retain some of the hybrid and digital mechanisms, we harnessed during the pandemic to make the best use of our resources.

The Trustee Board successfully recruited a new CEO who joined the organisation in January 2022. On behalf of the Trustees I would like to formally thank Sonja Woodhouse for her contributions and commitment to the organisation and we would like to welcome Claire Dale into post whose first key tasks were to oversee the formulation of our new Strategic Business Plan and to review our vision and values.

As we move into 2022/23, we remain focused on ensuring both staff and beneficiaries health and wellbeing is paramount, aiming to be an employer and provider of choice. The social care environment remains challenging, and it is important that we ensure we can attract and retain a dedicated workforce to deliver increasing care needs.

Our new strategic business plan sets out our five key strategic intentions of: Transformative Support, Impact & Influence, Sustainability, Quality & Compliance; and Growth & Partnerships

This plan will shape the direction of the organisation into 2026 and beyond, ensuring that we are able to ensure stability for the organisation whilst providing high quality, responsive services.

On behalf of the Board of Trustees I would like to thank all of our staff for their hard work, dedication and flexibility for the last year, excelling and continuing to show great fortitude. We owe them a debt of gratitude for the work they carried out and the manner in which they do so.

Aims and Objectives

Carers Trust Heart of England’s wishes to support all age carers, and those they care for, through offering high quality, individually tailored care, and support services.

We want to support carers to live their life as well as possible, being able to access the help and support they need, when, and how they need it.

Carers Trust Heart of England Report of the Trustees

Vision and Values

By 2026 we aim to be a charity that is both an enabler and a provider as well as an employer of choice, transforming the lives of carers of all ages and those who are cared for via high-quality, person-centred care and support services.

We will be providing services which are commissioned, privately and self-funded, that have been developed through listening to and harnessing the needs and wants of both carers and people they care for. Carers Voice will be the dominate voice both internally and externally to the organisation, with noteworthy improvements in awareness and understanding of carers, their needs and the significant role they play in our communities.

We will be doing this from a position of being an organisation that is financially sustainable, having a diverse income, which has seen growth in terms of breadth and reach. We will have seen growth in the development of our workforce, who will be working collaboratively and embodying our vision and values.

Our values are at the heart of everything we do and underpin the culture of the organisation.

There is an importance in the ‘human factor’ in any organisation and no matter how detailed and solid your strategy is, if the people delivering on it do not nurture the appropriate culture there is a greater risk of failure to deliver.

For Carers Trust Heart of England our culture is about the way in which we act all the time, in the execution of our work and particularly in times of crisis or critical demand, how we manage pressure and respond to the various challenges such as those that we have highlighted in this plan and especially in how we treat each other, users of our services and partners.

Below is a pictorial view of the values of the Charity.

Carers Trust Heart of England Report of the Trustees

Public Benefit

The trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Charity’s aims and objectives and in planning future activities. The Trustees have also considered how planned activities will contribute to the aims and objectives of the Charity.

The Charity seeks to support carers to continue caring, thereby enabling those adults and children with care needs to continue to live in the community independently and with choice and control over their lives. Although many of the services provided are funded through statutory bodies there are also significant services funded through private donations, grants, trusts and philanthropic organisations for which we are extremely grateful. A good example of this is our STARs club that takes place on Saturday mornings providing activities for children with autism and ADHD enabling parent carers to have a break.

Key Achievements

During 2021-22 overall we have maintained our performance across our five main areas. This was despite the impact Covid continued to have on our ability to deliver. They were as follows:

Adult carers Information advice and support	2021-22	2020-21	2020-21
One to one contacts with Carers	14,126	13,868
Carers supported one to one	3,912	4,463
Carers attending one of our group activities	1,475	1,554
Carers attending group activities	244	197
Carers Assessments completed	293	283
	2021-22		2020-21
	243		133
	1,673		1,559
	1,765		1,297

The reduction in performance is related to the Charity no longer providing Domiciliary Care in Warwickshire. This accounted for more than half of the regulated care that the Charity undertook.

Carers Trust Heart of England Report of the Trustees

Emergency Planning CRESS carers registered in the last 12 months Emergency plans now registered with us Emergency care hours delivered Key Acheivements (continued)
	2021-22
			2020-21
	3,662
			2,904
	775
			1,032
	3,219



Special Projects	2021-22	2020-21
Dementia Support Customers supported Customers remaining in their own home	66 51	86 64
Carers Training Carers received specific training Number of training sessions	129 211	118 214
Payments Total payments made Number of carers receiving payments	£71,409 227	£58,078 273
Stars Children’s Club Numbers attending	162	104
Making Carers count Number of new carers supported	49	-
Carers respite services Individual carers aged 19 and over attending groups Feedback from our Carers	255	-

Carers Trust Heart of England Report of the Trustees

Key Achievements (continued)

During 2021/22 we have continued to deal with the impact of COVID-19 not only on the Charity but also on our beneficiaries and our wider operating environment. Carers have continued to be some of the most adversely affected during this crisis and as the country began to open back up it has been challenging for carers to return to ‘normality’ whilst continuing to try and keep their loved ones safe and shielded. When considering this coupled with the economic crisis which began to unfold towards the end of the year carers are still heavily impacted by social isolation, mental health and financial problems.

We have continued to flex our services whilst consulting with carers about moving back into face-to-face delivery methods whilst maintaining some level of support via digital platforms, by telephone and over the internet. We believe that we have provided a safe and collaborative roadmap into a diverse range of accessing services to best meet the needs of carers.

Strengthening our Board and Senior Management Team

During the year we worked as a Board of Trustees to look at how we could further strengthen our governance and build on the good work of previous years. We recruited a new Treasurer and a number of Trustees who are current Carers.

We implemented three new sub committees of the Board which meet every two months. The members of these committees are:

Executive Committee

Mr Dhiran Vagdia (Chair) Mrs Davinder Athwal Mrs Janet Elisabeth Jones- Legg (MBE) Mr Robert Villette Mr Martin Henwood

Finance Committee

Mr Martin Henwood (Chair) Mr Ramesh Farmah Mr Robert Villette

Operations and Quality Committee

Ms Marcia Jarrett (Chair) Mrs Vivien Kershaw Mrs Rosemarie June Tonkinson

These are allowing the Charity to benefit from the different expertise of the trustees.

We have also made changes to our Senior Leadership Team by appointing a new Chief Executive Officer and a Director of Finance and Resources, the latter being a new role for the organisation which is pivotal to our strategic growth and development.

----- Start of picture text -----
6
----- End of picture text -----

Carers Trust Heart of England Report of the Trustees

Future Plans

Our future plans reflect the world moving beyond the pandemic and a need to ensure we are robust and able to support our beneficiaries in the future regardless of the method of delivery. In addition to our Strategic Intentions as set out in our 2022 – 2026 Business Plan there will be a focus on:

Recovery – of our organisation as we move into a post-pandemic era and of our staff team(s) in terms of their health and wellbeing
Stability – in securing core contractual work and varying our income stream(s), alongside improving our recruitment and retention processes and outcomes
Building Back Better – Improving on how things were ‘before’ taking a lesson(s) learned approach
Thriving (not just surviving) – being financially resilient and having more autonomy in partnership with carers to direct our work and resources on a needs led approach, maximising impact for beneficiaries

Our Strategic Plan can be found on our website.

Financial Review

Our Finances

The Charity weathered a difficult financial year better than had been anticipated and as a result were able to finish with a small deficit in the year of £53k. It had also been planned to reinvest the surplus of £174k made in 2020-2021 into our Young Carers services, however the Charity was able to secure funds from other sources for Young Carers which meant that we did not need to use the surplus in this way.

Our overall income for the year dropped by £652k from £3,845k to £3,193k. This was mainly due to the Charity no longer delivering Domiciliary Care in Warwickshire.

Our unrestricted reserves at the end of the financial year increased by £9k from £551k to £560k.

Principal Funding Sources

The principal funding source of the organisation is from contracts from Statutory Authorities, namely Coventry City Council, Warwickshire County Council and Coventry and Warwickshire Clinical Commissioning Groups.

These state bodies provided 87% (2021 86%) of our total income. The remaining income is from private income for the delivery of care hours, grants from trusts and organisations supporting our work and donations.

Investment Policy and Objectives

All of the charity’s investments with the exception of its headquarter building are represented by cash balances with its Bankers where they are yielding minimal but secure returns. The charity is aiming to review its Investment Strategy to try and make the investments work better for the Charity going forward while still ensuring reasonable security of funds.

Carers Trust Heart of England Report of the Trustees

Financial Review (continued)

Reserve Policy

The reserve policy is reviewed annually in the light of the main risks facing the organisation. Having reexamined its strategic plan, the Board will seek to maintain a reserve level that will enable it to take advantage of any opportunity to develop services whilst maintaining its obligations to service users and creditors. The baseline requirement is to have reserves equating to between three and six months of annual expenditure. This will help us, to withstand any unforeseen events and secondly ensure that it can meet potential redundancy costs of employees. An adequate level of reserves is again necessary to meet the working capital requirements of the charity.

The unrestricted reserves of £132k held on 31 March 2022 represents 2.5 months of corporate expenditure. The trustees are comfortable with this level of reserves in what are challenging times.

Funds not required on an immediate basis will be invested in line with the investment policy. Trustees review this policy formally on an annual basis. Through strategic planning and constant monitoring, the charity has built up over several years a sound asset bases backed by cash reserves.

Summary

The total income amounted to £3,193k compared to 2021 income of £3,845k. Our principal funding sources were local authority grants and fee contracts as in previous years totaling £3,137k (2021 £3,705k). The overall result for the year was a deficit for the year of £53k compared to a budgeted deficit of £172k and a surplus of £174k in the previous year.

Risk Management

Operation and Finance

The Trustees, in conjunction with the senior management team, are aware of the major risks to which the charity is exposed. Where appropriate, systems or procedures have been established to mitigate the risks the charity is exposed. Internal control risks are minimized through the procedures for authorisation of all transactions and projects. Procedures are periodically reviewed to ensure they continue to meet the needs of the charity and ensure its compliance with applicable laws and regulations. These procedures are reviewed periodically to ensure they meet the needs of the charity.

Credit and Liquidity

The Charity’s principal financial assets are bank balances, trade and other receivables. The charity’s credit risk is attributed to its trade receivables. The amounts presented in the balance sheet are net of any allowances for doubtful debts. The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks which are highly rated by the international credit rating agencies. The charity has no significant concentration of credit risk with exposure spread over a large number of counterparties and service users.

In order to maintain liquidity, the management ensures that sufficient funds are available for ongoing operations and future developments.

Carers Trust Heart of England Report of the Trustees

Structure, Governance and Management

Governing document

The charity is a charitable company not having a share capital as defined by Companies Act 2006. It was registered as charity on 23 July 1996 and constitutes a limited company, limited by guarantee as defined by the Companies Act 2006. It is controlled by its governing document and memorandum and articles of association which were amended at the board meeting on 26th March 2015 and approved by the Charity Commission and registered with Companies House together with the name change to Carers Trust Heart of England (formerly Crossroads, Coventry & Warwickshire).

Recruitment and appointment of new trustees

The directors of the company are also charity trustees for the purpose of charity law and are known as members of the Management Committee. Under the requirements of the Articles of Association, at the Annual General Meeting one third of the directors must retire from office however, the Board of Trustees may allow the trustees concerned to be reappointed by ordinary resolution. The Board of Trustees may appoint a person who is willing to act as a trustee either to fill a casual vacancy or as an additional trustee.

Organisational structure

Carers Trust Heart of England has a Management Committee of 13 trustees who meet regularly throughout the year and at least bi monthly. Each meeting includes a review of the current activities including the financial position, actual achievement against the action plan, health and safety issues and future strategy. The board is supported by three sub committees, Executive Committee, Finance Committee and Quality and Operations Committee which meet every two months, feedback from these sub committees are given at following board meetings by their chairs. The trustees also hold designated training days each year where they examine in detail specific areas of importance including risk management, health and safety, strategic planning, sustainable funding and accounts. The trustees also attend both the Annual General Meeting and any training seminars pertinent to their responsibilities as trustees. The trustees have a wide range of business, social work and management experience from practitioner to director level and the majority of trustees have also had personal experience of caring.

The head office of the charity is based in Queen Victoria Road in Coventry and regulated services and Coventry Wellbeing services are delivered from this office. Young Carers services are delivered from the Penny Collard Centre. The Wellbeing services for Warwickshire are delivered from our office in Rugby. Carers Trust Heart of England provides services throughout Coventry and Warwickshire by teams of staff based in their local areas and managed from one of the above stated offices.

The day-to-day responsibility of the organisation is that of the Chief Executive Officer (CEO) who also provides support and advice to the trustees in business and strategic planning. The Chief Executive Officer is supported by the Deputy Chief Executive Officer and Director of Finance and Resources, and the Managers of the specific areas. They respectively manage their teams of advisors, coordinators, assessors, administration staff and care support staff.

Remuneration for staff, including key management personnel is reviewed annually taking into account current minimum wage legislation and its impact on salary scales together with a review of similar charitable organisations pay scales.

Carers Trust Heart of England Report of the Trustees

Structure, Governance and Management (continued)

Induction and training of new trustees

A full audit and gap analysis was undertaken in 2021/22 of the trustees’ skills to ensure a broad mix of skills to manage the organisation particularly in relation to business/management expertise and knowledge of carers’ issues. This balance will be maintained in the future. When vacancies occur, individuals are approached with the necessary skills to offer themselves for election to the management committee. A one-off recruitment using external support was made to secure an honorary treasurer.

New trustees are invited to meet with the Chairman and Chief Executive Officer to learn about the organisation and to ensure they are aware of their responsibilities and obligations as a management committee member, understand the constitution and memorandum and articles, have a knowledge of the current financial position of the charity and have a broad understanding of the future plans and objectives.

Related parties and associations

The charity is a partner of the Carers Trust. The Carers Trust was formed as a result of the merger of the former Crossroads Association and the Princess Royal Trust for Carers. All network partners of the Trust work to an agreed quality assurance standard and share the same aims and objectives.

In addition, the charity is registered with the Care Quality Commission as a domiciliary care agency providing regulated services and as such adheres to the standards as laid down in the National Minimum Care Standards legislation. Locally, the registered manager and staff work closely with other charitable and statutory authorities to further the interests of carers and those they care for. The Chief Executive Officer works locally, regionally and nationally to promote the organisation and forge links with other organisations to further the work of the charity.

Reference and Administrative Details

Registered Company number: 03206963 (England and Wales)

Registered Charity number: 1057024

R egistered office: 6 Queen Victoria Road, Coventry, West Midlands, CV1 3JH

Trustees

Mr. Victor Walter Keene MBE Mrs. Vivien Kershaw Mrs. Rosemarie June Tonkinson

Mr Dhiran Vagdia Appointed Chair on 30 November 2021 Mr Gian Singh Seehra Mrs Davinder Athwal

Mrs Janet Elisabeth Jones-Legg MBE Resigned as Chair on 30 November 2021 Miss Jean Jackson

Ms Marcia Jarrett

Mr Ram Parkash Lakha OBE Resigned as Trustee on 30 November 2021 Mr Robert Villette

Mr Martin Henwood (Treasurer) Appointed on 30 November 2021 Mr Ramesh Farmah Appointed on 30 November 2021 Mr Stephen Cobb Appointed on 30 November 2021

Company Secretary

Mrs Claire Dale Appointed on 4th January 2022 Sonia Woodhouse Resigned on 4th January 2022

Carers Trust Heart of England Report of the Trustees structure. Governance and Management (continued) Auditors Armstrongs Accountancy Ltd. Chartered Accountants and Statutory Auditor. 1 & 2 Mercia Village. Torwood Close. Westwood Business Park, Coventry. West Midlands. CV4 8HX Bankers Barclays Bank Plc. 25 High Street. Coventry. CV13JH Solicitors Nexa Law Limited. Wework. 5th Floor. 10 York Road. London. SE17NO Going Concern The trustees have considered the reserves policy above and the working capital requirements for the period of 12 months from the date of this report and have reasonable expectstion that the Charity has adequate resources to continue its operations for the foreseeable future. Accordingly. the trustees continue to adopt the going concern basis for the preparation of the annual report and accounts Trustees. Responsibility Statement The trustees (who are also the directors of Carers Trust Heart of England for the purposes of company law) are responsible for preparing the Report of the Trustees 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 f inancial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources. including the income and expenditure. of the charitable company for that period. In preparing those f inancial statements. the trustees are required to • select suitable accounting policies and then apply them consistently: observe the methods and principles in the Charity SORP: make judgements and estimates that are reasonable and prudent.. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detèction of fraud and other irregularities. statement as to Disclosure of Information to Auditors So far as the trustees are aware, there is no relevant information (as defined by Section 418 of the Companies Act 2006) of which the charitable company's auditors are unaware. and each trustee has taken all the steps that they ought to have taken as a trustee in order to make them aware of any audit information and to establish that the charitable company's auditors are aware of that information. Auditors The Charity is going out to test the market for its auditors and the decision will be presented to the trustees at the Annual General Meeting. This report has been prepared in accordance with the special provision of Part 15 of the Companies Act 2006 relating to small ¢ompanies. This re ort of the trustees. incorporating a strategic reporL is approved by order of the board of trustees nd signed on the board's behalf by- Mr Dhira Vogdia hair) 11

Independent Auditors’ Report to the Members

Opinion

Of Carers Trust Heart of England

We have audited the financial statements of Carers Trust Heart of England (the ‘charitable company’) for the year ended 31 March 2022 which comprise the statements of Financial Activities, the Balance Sheet and notes to the financial statements, 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 (United Kingdom Generally Accepted Accounting Practices)

In our opinion the financial statements:

Give a true and fair view of the state of the charitable company’s affairs as at 31 March 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 Practices; and

Have been prepared in accordance with the requirements of the Companies Act 2006

Basis of 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 believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Independence

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 UK, including the FRC’s Ethical Standards, and we have fulfilled our other ethical responsibilities in accordance with these requirements.

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 authorise for issue.

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

However, because not all the future events or conditions can be predicted, this statement is not a guarantee as to the Charity’s ability to continue as a going concern.

Other Information

The trustees are responsible for the other information. The other information comprises the information included in the Report of the Trustees, other than the financial statements and our report of the Independent Auditors thereon.

Independent Auditors’ Report to the Members Of Carers Trust Heart of England

Other information (continued)

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.

In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement of the other information. 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; and

The Trustees’ Annual Report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the 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 Report of the Trustees.

We have nothing to report in respect of the following matters where the 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.
The trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the trustees’ Report.

Responsibilities for the financial statements and the audit

Responsibilities of trustees for the financial statements

As explained more fully in the Trustees Responsibility Statement, the trustees (who are also the directors of the charitable company for the purposes of the 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.

Our 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 a report of the Independent Auditors 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.

Independent Auditors. Report to the Members Of Carers Trust Heart of England Our responsibilities for the audit of the financial statements (Continued) The extent to which our procedures are capable of detecting irregularities. including fraud is detailed below.. We obtain an understanding of the legal and regulatory framework applicable to both the charity itself and the sector in which it operates. We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our sector experience and through dis¢ussions with the trustees and other management. The most significant were identified as the Charities Act 2011 and Charities SORP IFRS102). We considered the extent of compliance with those laws and regulations as part of our procedures on the related f inancial statements. Our audit procedures in¢luded= Making enquiries of management as to where they consider there to be a susceptibility to fraud and whether they have any knowledge or suspicion of fraud.- Obtaining an understanding of the internal controls estsblished to mitigate risks related to fraud or non-compliance with laws and regulations.. Assessing the design effectiveness of the controls in place to prevent and detect fraud: Assessing the risk of management override including identifying and testing journal entries: Challenging the assumptions and judgements made by management in its significant accounting estimates. Whilst our audit did not identify any significant matters relating to the detection of irregularities including fraud . and despite the audit being planned and conducted in ac¢ordan¢e with ISAS (UK), there remains an unavoidable risk that material misstatements in the financial statements may not be detected owing to inherent limitations of the audit. and that by their very nature. any such instances of fraud or irregularity would likely involve collusion. forgery. intentional rnisrepresentations. or the oveffide of internal controls. 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 Report of the IndependentAuditors. Use of our Roport 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 bèèn 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 purposes. To the fullest extent permitted by law. we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body. for our audit work. for this report. or for the opinions we haye_formed. ed Sha be ir ACA FCCA (Senior Statvtory Auditor) Irando f of Armstrong s Accountan¢y Ltd Chartered ¢ountants and Statutory Auditor 1&2 Mercia Village. Torwood Close. Westwood 8usiness Park Coventry. West Midlands, CV4 8HX Oate lo 14

Carers Trust Heart of England Statement of Financial Activities (incorporating Income and Expenditure Account) For year ended 31 March 2022

Carers Trust Heart of England Balance Sheet For year ended 31 March 2022 2022 2021 Notes Fix1 assas Tan gib le assets 14 450.3)7 508.402 Current Assets DebtS cash 8t bank and in hd 15 115.329 2.493.649 2.ti0&978 48.353 25b1.497 2609.850 Creditors: amountfallino due 1th1n one Ye 16 11.116.921) 11.122.914, Nét Current 4ssets less current Uabilitses 1.492057 1.486.936 Nei Assels 1.942264 1,995,338 Funds of Ihe Charity Un restricted F unds general funtts desionalea funds 19 132314 428. 168 118.863 432.638 Restricted fun ds 1.381.782 1.443.837 Total F unds 1,941264 1.995.338 These financial staiements w'ere approved In accordance with the provision appiicatsie to Charitatsie companies Sutyiect to Ihe small companies regime. Tne financial statements were approved Dy the Board of trustees and authorised for issue on... and were signeo on its behall b Dhiran a - chairman flartin Henw'ood - Treasurer COMPANY NUMBER: 03206963 10

COMPANY NUMBER: 03206963 Carers Trust Heart of England Notes to the Accounts For year ended 31 March 2022

1. ACCOUNTING POLICIES

General information and basis of preparing the financial statements

Carers Trust Heart of England is a Company Limited by Guarantee, incorporated in England and Wales. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £5 per member of the charity. The address of the registered office is given in the charity information on page 12 of these financial statements. The nature of the charity’s operations and principal activities are given on page 3.

The financial statements of the charitable company, which is a public benefit entity under FRS 102, 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 Standards applicable in the UK and republic of Ireland (FRS 102) (effective 1 January 2019)’, Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Companies Act 2006.

The financial statements are prepared on a going concern basis under the historical cost convention modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity.

The charity has applied Update Bulletin 1 as published on 2 February 2016 and does not include cash flow statement on the grounds that it is applying FRS 102 Section A.

The Significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Income recognition

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

In accordance with the Charities SORP income received in advance and specified by the provider as relating to specific accounting periods or alternatively which are subject to conditions which are still to be met, and which are outside the control of the charity or where it is uncertain whether the conditions can or will be met, are deferred or are recognised on an accruals basis to the period to which they relate. Such deferrals are shown in the notes to the financial statements and the sums involved are shown as creditors in the financial statements.

Income from trading activities includes income earned from fundraising events and trading activities to raise funds for charity. Income received in exchange for supplying goods and services in order to raise funds is recognised when entitlement has occurred.

No amount is included in the financial statements for volunteer time in line with the SORP (FRS102)

Income from government grants and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met these amounts are deferred.

Investment income is earned through our bank accounts with Barclays Bank Plc

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Carers Trust Heart of England Notes to the Accounts For year ended 31 March 2022

1. ACCOUNTING POLICIES - continued

Fund raising costs are those incurred in seeking voluntary contributions and include the costs of disseminating information in support of the charitable activities

Governance costs are those which relate to the provision of governance infrastructure of the charity. Included within this category are costs associated with the strategic management of the charity’s activities and all trustees and committee costs.

Allocation and apportionment of costs

Overheads and support costs have been apportioned on a basis consistent with the use of the resources. Where support costs are not directly related to contracts, such as costs relating to Management, Finance and Accounts, Human Resources, IT and Office Facilities, the costs are allocated to each activity based on an apportionment basis.

Recognition of liabilities

Liabilities are recognised on an accruals basis in accordance with normal accounting principles, modified where necessary in accordance with the guidance given in the Charities SORP.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities (SoFA) on a straight line basis over the period of the lease.

Investments

Short term investments are classified as current assets and valued at current market value.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life

Freehold Property - not provided Improvements to property - over the period of the lease Fixtures fittings and equipment - 25% on reducing balance Freehold property policy - the charity does not depreciate assets that retain their value over the period of ownership

Tangible fixed assets are stated at historic cost less accumulated depreciation. Costs include the original purchase price of the asset and the costs attributable to brining the asset to its working condition for its intended use. All expenditure of a capital nature is capitalised at cost as fixed assets with items costing below £1,500 being fully expensed during the year of purchase.

Taxation

The charity is exempt from corporation tax to the extent that its income and gains are applicable to charitable purposes only. Value Added Tax is not recoverable by the Charity and is therefore included in the relevant costs in the Statement of Financial Activities (SoFA).

Funds

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Unrestricted – designated funds are those ring-fenced for the initiatives supporting charity’s strategic objectives.

Restricted – designated 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.

Carers Trust Heart of England Notes to the Accounts For year ended 31 March 2022

1. ACCOUNTING POLICIES - continued

The cost of raising and administering such funds are charged against the specific fund

Investment income and gains are allocated to the appropriate fund.

Pension costs and other post retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company’s pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Financial instruments

Financial assets and liabilities are defined as basic financial instruments under FRS102. These are measured at amortised cost.

Going Concern

The trustees have considered the reserves policy above and the working capital requirements for the period of 12 months from the date of this report and have reasonable expectation that the Charity has adequate resources to continue its operations for the foreseeable future. Accordingly, the trustees continue to adopt the going concern basis for the preparation of the annual report and accounts.

2. DONATIONS AND LEGACIES

3. OTHER TRADING ACTIVITIES

4. INVESTMENT INCOME

Carers Trust Heart of England Notes to the Accounts For year ended 31 March 2022

5. INCOME FROM CHARITABLE ACTIVITIES

6. RAISING FUNDS - DIRECT COSTS

----- Start of picture text -----
20
----- End of picture text -----

Carers Trust Heart of England Notes to the Accounts For year ended 31 March 2022

7. RAISING FUNDS – SUPPORT COSTS

8. CHARITABLE ACTIVITIES - DIRECT COSTS

Carers Trust Heart of England Notes to the Accounts For year ended 31 March 2022

9. CHARITABLE ACTIVITIES – SUPPORT COSTS

10. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging /(crediting):

11. TRUSTEES’ REMUNERATION and BENEFITS

There were no trustees’ remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.

12. STAFF COSTS

Carers Trust Heart of England Notes to the Accounts For year ended 31 March 2022

12. STAFF COSTS (CONTINUED)

The average monthly number of employees during the year was as follows:

No employees received emoluments in excess of £60,000.

13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Carers Trust Heart of England Notes to the Accounts For year ended 31 March 2022

14. TANGIBLE FIXED ASSETS

Cost or valuation at 31st March 2022 is represented by:

The freehold property was revalued using a Red Book method on 1st June 2022 by EHB Reeves. The trustees of the charity agreed to adjust the property valuation in the financial statements.

15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Carers Trust Heart of England Notes to the Accounts For year ended 31 March 2022

16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR (CONTINUED)

Deferred income

17. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows

18. ANALYSIS OF NET ASSETS BETWEEN FUNDS

19. MOVEMENT IN FUNDS

Net Movement in funds, included in the above are as follows :

Carers Trust Heart of England Notes to the Accounts For year ended 31 March 2022

19. MOVEMENT IN FUNDS (CONTINUED)

Comparatives for movement in funds

Comparative net movement in funds, included in the overleaf are as follows:

A current year 12 months and prior year 12 months combined position is as follows:

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Carers Trust Heart of England Notes to the Accounts For year ended 31 March 2022

19. MOVEMENT IN FUNDS (CONTINUED)

Restricted – designated 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.

Unrestricted – general funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Unrestricted – designated funds are funds that have been ring-fenced for the initiatives supporting charity’s strategic objectives.

20. PENSION COMMITMENT

The Charity operates a defined contribution scheme for its employees. The defined contributions are paid immediately each month to the nominated fund of the respective employees. The amount paid into schemes during the year amounted to £78,479 (2021 £57,208). The total amount prepaid at 31 March 2022 was £67 ( 2021 £1,870).

21. RELATED PARTY DISCLOSURES

During the year ending 31 March 2022, fees for planning services amounting to £5,284.80 (2021 £Nil) were paid to Vagdia and Holmes Limited. Mr D Vagdia who is a trustee of Carers Trust Heart of England is also a director of Vagdia and Holmes Limited.

During the year ending 31 March 2022 training services were provided by the MD Centre limited amounting to £300 (2021 £7,285). Mrs S Woodhouse who was the CEO of Carers Trust Heart of England for part of the year is also a director of the MD Centre Limited.

22. ULTIMATE CONTROLLING PARTY

Carers Trust Heart of England’s a charitable company limited by guarantee. The members of the company have agreed to contribute £5 each to the assets of the company in the event of company being wound up. Ultimate control of the company rests with the trustees who are also directors and members of the company.