Reglst•r•d numb•r: 03690104 Charity numb•r: 1071041 Lodge Hill Trust {A company limited by guarante•} Unaudited Trustses. report and financial statsments For the year ended 31 December 2021
Lodge Hill Trust {A MpanY limit•d by guarant••l Contsnts Page Referenc• and admlnlstratlve detalls of th* Company, its Trustg•s and advisers Trustees. report Independent examinerfs report statement of financial aclivities 10 Balance sheet 11-12 Statement of ¢ash flows 13 Notes to the financi21 statements 14-33
Lodge Hill Trust
(A company limited by guarantee)
Reference and administrative details of the company, its Trustees and advisers For the year ended 31 December 2021
Trustees
Mr Matthew Wykes, DipPFS, Chairman Mr Guy Nelson, MA (Ed); NPQH Mr Richard Whittaker Ms Penny Barnes - Ms Shirley Robinson Viney (resigned 13 July 2022)
Company registered number
03590104
Charity registered number
1071041
Registered office
Lodge Hill, Watersfield, Pulborough, West Sussex, RH20 1LZ
Company secretary
Shirley Robinson-Viney (resigned 13 July 2022)
President
Col. Sir Brian Barttelot, Bt; OBE; DL
Accountants
Kreston Reeves LLP, 9 Donnington Park, 85 Birdham Road, Chichester, West Sussex, PO20 7AJ
Bankers
CAF Bank Ltd, Kings Hill, West Malling, Kent, ME19 4JQ
Solicitors
Miller Parris, Broadwater, Worthing, West Sussex, BN14 8JB
Investment advisors
Waverton Investment Management Ltd, 16 Babmaes Street, London, SW1Y 6AH
Key Management Personnel
Lisa May BSc (Hons); Dip HSW, Chief Executive Officer Katie Collet, BSc (Hons), Finance and Operations Manager Claire Harrison, BSc, MHCIMA, Chef Manager Matthew Brown, Lead Activities Instructor (resigned 18 July 2022)
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Lodge Hlll Trust IA ¢ompany Ilmited by guarantee} Reference and admlnlstratlve details of the ¢ompanyi its Trustees and advisèrs Icontlnu•d) For th• year end 31 Doc•Mr 2021 Patrons Mrs Susan Pyper ILord Lieutenant of West Sussex) Col. Sir Brtan Barttelot, Bl., OBE., DL The Lord Dholakia, OBE',DL Sylvia Countess of Limerick, CBE P8ge 2
Lodge Hill Trust IA company limit by guarantè¢l Trust••s' report For th• yoar •nded 31 Dec•mber 2021 The Trustees prèsent their annual report togethei with the financial statements of the company for the 1 January 2021 to 31 December 2021. The Annual report serves the purposes of both a Trustees, report and a directors, report under company law. The Trustees confirm that the Annual report and financial stalèmenls of the charitable company cx)mply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions ol the Statement of Recommended PracliiE ISORPI applicable lo charrties preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 leffecb've 1 January 20191 Sirice the company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies AGt 2006 Islralegic Report and Directors, Report) Regulations 2013 has been omittèd. Obj•ctives and actlvities a. ObjKts"v•s and aims The aim and PUFpose of the Trust is lo ensure that the young people and others of West Sussex and beyond enjoy the educational benefits available al the Cenlre. The objects of the Tnjst sel this Out as.. 11 The advancomenl of the educab'on of young people, primarily thoso resident In the county of West Sussex. by helping them to develop their merklal and physical capacities that they may grow lo full maturity as individuals and members of society and that their conditions of life may be improved. 2} The provisions of facilities for the further education of adults, primarily those resldent in the county ot Wesl Sussex. b. Charltable a¢tivities Under the Charitios Act 2006, the trusl&as are required to report on how the Trust has carrled out its aims foi the public benefit. The Trust's objects are set out in the Memorandum of Association and include particulady the advancement of the education of young people and the provision of the facilities for the further education of adults. The Charity Commission has set out 2 key principles of public benefit, being that ther8 musl be Identifiable benefits which are related lo the Trust's aims and that the banefl( must be for the public or a section of the public. Al Identifiab benefits relaled to the objects of the Trust include the following.. 1. Provision of Facililies The 32-acr8 sila al Lodgé Hill includes a camp site, residential accommodation, outdoor activities and meeting and confererbce facilities. 2. Giving an education The Trusvs omployees include insttuctors who are trained in the use of all the facillties at the site enabling all the users lo be educated in Ihair use. The instructors are not only able lo leach users how to achieve personal targets but also, very importantly, how to achieve those targets as a part of a group or team. Th6 Trust achieved accreditation with "Leaming Outside the Classroom" Page 3
Lody Hill Trust IA Company limited by guarantse) Trustses. report Icontinuedl For the y•ar ended 31 Dec?mber 2021 3. Preserving Ihe environment The Trust's 32 acre site is Main woodland which is Maintair by the Trusvs employees for the benefit of all the users generally bul also allowing, parbcularly, sch(1 groups, to fulfil educational requirements arising from thè national curriculum. Bl The benefit for th8 public can be illustrated as follows-. 1. In th8 year ended 31 st December 2021. there were approx. 24,068 users Imainty chilcren and young people) who visited Lodge Hill. This is still somewhat redUd due lo the pandemic and the restrictions for part of the year. We continued supporting vulnerable young peopl@ and SEND families throughout the year. 2. Many of these users were young peopla that took part in activities organised by the outdoor instructors during the period. The Trust has made it a particular priority lo ensure that the centre's facilities are available for disabled users and our work in this regard has been reccrfJnised by the Go Easy Improving Access Awards in conjunction wilh Chichester District Council. The now inclusive faciliLies have attracted a spectrum of users. Aohiev•m•nts and performance . Chairman's Report Al Lodge Hill we are always planning ahe&11o stay current, deliv&r what we believe our customers want and adapt to their changing needs. Our main objective is to secure our long-tertn future with a number of initiatives, ultimately, we strive to be the prime provider of outdoor activities for young people in the South of tha UK. 2021 was unpredictable with the ongoing knkdown situation. It was hard to plan forward for groups wanling to attend Lodg8 Hill and financially to maintain control of our forecast and c05t structures. We changed and continually monilored our staffing and (x)sl structures and, although much leaTrer, it has been a great lime lo grow the tearll from within whilst developing the services we excel at delivering whilst we waited for the full opening post l(Kkdown. Towards the end of 2021 and looking at Iha foNard bO0.ng8 for 2022. We can se& the need for our ServIS ncieasing beyond &xpectation. Phase two of our Vision has been delayed due to the pandemic but we are still on Course to deliver a disability suite with adjacent carers, room. This is an ongoing discussion along with a numbor of other exciting opwrtunities wa ar6 roviewing. The sale of a small par1 of land on the Northeast boundary continues. We have secured Outline Planning Permission and move lo the next phase of securirkg interest in the sale and robust plans in-keeping with the requiiements of The South Downs Planning Authority. This will also secure enough funding to place funds into reseNe. 11 will also allow us to move forward on our expansive modernizing and maintenance programme. Our core business is schools on a day visit or residential trip capacity. We have a strong and growing relationship with West Sussex County Council and are one of their preferred providers of activities for family groups with a disabled thild or young person. The Challengeu programme for young people that have offended, are al risk of offending or have disengaged with socioty or education is becoffling an increasing influence on our overall offering at LcKlge Hill and the need increases with much younger people requiring intervention and support than we had anlicipaled. Tho centre is licensed for weddings. We have a unique offering for those wishing lo share their Speal day at Lodge Hill. We have great conference facilities lo host meetings, corporate events and presenlab.ons that add addrtional income slr8ams to support our core worf( of supporting Ghildren and young people lo thrive. The centre would not be the s$S it is without the hard work and dedication of the superb Lodge Hill team guided by Lisa May, our dedical8d CEO and the hours of voluntary work carried out by our highly motivated Page 4
Lodge Hlll Trust IA ¢ompgny limlted by guarantee) Trust¢¢s' report {¢ontinuedl Forth¢ year ended 31 D•¢*Mr2021 Trustees. We are incredibly lucky to re1ve wide ranglng support from generous funders, sponsors and donors. Our President, Patrons and Company Members have played a slgnificant role in the development and success of Lodge Hill through their continued support. Looking forward, it is exciting to see a new team bond and drive Lodge Hill to a different level. 2022 will hopefully be Iwthout any Interruptions). our busiest year yel, I look fOard to sharing this with you next year. Dovelopment p12ll In developing our business plan, we recognised that the challenge for Lodge Hill was to become a viable and accessible, 'high-class provider of choice for users from West Sussex and beyond requiring outdcbor activities, rèsidential trips and day meetingSl¢onferens, thus enabling the Trust to remain financially sustainable. Wè reaffirmed the Trust's mission to target a wide range of groups and individuals, including those with physical disabilities, mental health or learning diffi¢ullies and young offende[5. The business plan identified that in order to achieve this challenge the Trust would need lo.. 1. Maintain financial sustainabilty whilst ensuring Lodge Hill provides best value for money for young people 2. Maintain a professional and committed staff team 3. Maximise Ihe use of facilities and establish on-going communications with key players and supporters 4. Maintain Ihg contre and its faGilities to a high standard and plan appropriat8 improvements 5. Establish joint infiialives with rQgnised partners and targeted fvnding. The business plan is a 'live' document and as SUGh is constantly being updated and refined. b. Key perfomian¢• Indloators The principal indittators of performance are financial reporting of current results compared to the budget numbers and previous years. The budget is formally adopted al a meeting of Trusiees at the start of the year. Financial reports are prepaTed by the Accounts Manager and considered in detail by the Finance Cornmillee four times per year. They are presented and discussed by the full board of trustees al each of their meetings. Client satisfaction and statistics of repeat booklngs are also considered as performance indicators. . Event5 sln¢e the balan¢e shvtt dote As expected, we have relumed to full operation in 2022_ Bookinos are buoyant for th8 rest of 2022 and forward into 2023. We have taken bookings from new customers for regidenlial and activity days who would previously have visited other cente[3 further afield. At the time of writing the Trust has not utilised the CAF loan it took out as a safeguard when the p8ndemic began. d. Investment poltcy The Trust has unrestricted authority to invest ils funds irb the furtherance of its charitable objectives. A proportltsn of retained reserves is held ifi the form of listed investments. It is the Trus¥s policy to have these managed by an independent investment manager under a discretionary mandate requiring a mix of equity ar¢d fixed income investments. A51hough the Trust has not adopted a Speci ethical policy, they have instruGled the investment rnanager that Ihey should refrain from investing in companies that undertake activities that are incompatible with the aims and obje¢liv6s of Lodge Hill. The Irusteos rèview the performance of the Investrnent manager periodically and consider the returns achieved to date to have been satisfactory. Financial revlew a. Finan¢ial review 2021 has kneen a year of recovery followlng the Covid-19 pandemic. We were able lo deliver some residential bookings but still slgnificantly less than previous yearB as schools were hesilanl to book in case further restrictions were irnposed. We continued to provide outdoor activities to both small family groups and schools preferring to visit for days. We have also increased our AllernatNe Provision sessions which has added to the Page 5
L¢xlga Hill Trust IA ¢ompany Ilmlt•d by grants0) Truste•s' report Icontinu•d) For th• y•ar ended 31 D•t)•mb•r 2021 increase in activities income for the year {2021'. £206,555, 2020.. £117,711}. Costs have remained largely stable even with the increase in charitable activthes due lo strict controls and staffing structure changes. The overall nel movement of funds for the year was a surplus of £20,332, cgrllpared to a deficit of £85,127 in 2020. b. Going conrn After making appropriate enquiries, the Trustees have a reèson8bl& expectation that the company has adequate resources to continue in operational existen for the foreseeable future. For thi8 reason, they continue lo adopt the going concem basis in preparing the financial statements. Further details regarding the adoption of the going concem basis can be found in th@ accounting policies. . Reserve5 polloy The Trustee5 review the level of re5etves regularfy. Reserves are a key element of financial stability and allow the Trust lo cope wÉth the fluctuating nature and liming of cash flDw5. ReseNas allow the Trust to deal with unexp&cted expenditure or changes in income and give time for appropriate action to be taken. The total funds at the year-end were £2,166,42212020.. £2,146,090). Of this total, £2,101.03712020.. £2,141,291) is designated as follows.. The fixed asset fvnd is not readily available to spend, it is the balance of the fixed assets. value. The Continuity reserve is th8 balance of the current asset investments, value. 8tru¢tUrn¥ gov•mance and man#g•ment a. Constitution Lodge Hill Trust (the chenty or the Trust) is a private company limited by guarantee under registered number 03590104, and a registered Charity under charity number 1071041. It was incorporated on 30th June 1998 in the United Kingdom. The charity is govemed by its Memorandum and Arb'cles of Association. b. Methods of Appolntm•nt or ¢le¢tlon ol Trustees New trustees are recruited primarily by utilising the knowladge of the existing Iruslees who have a wide network of contacts in the voluntary and business communities in West Sussex. Potential trust@&s visit Lodge Hill and meet wilh the chairman and at least one other trustee. They are provided with background papers and receive a detailed briefing. If both sides feel that they wish to proceed, the potential trustee is invited to attend a trustees, meeting as an observer. Followng the meeting a decision is made on whether lo invite the Individual to becomé a trustee. When seeking new trustees L(Klg& Hill looks for'.- Compatibility with the chariws values, aims and way of wotking. Availability to attand m8etingg, support activities, work on sub-committees, interact with staff and to encourage supporters. An enduring enthusiasm for the charity's objectives. An ability to establish priorities and to make logical decisions. They musl be able to contribute effectively, to have listening skills and must have a willingness to share responsibilities. While spea81isl expertise is not a pre-requisite, new trustees should enrich the diversity of the board. Page 8
Lodge Hill Trust {A company limited by guarant¢el Trustees. report (continued) Fgr the yeaT ended 31 Decembef 2021 Trust$ must possess indèpendence of mind and have the skill lo challenge Constructively, and be capable of and have axperience of strategic thinking at board level. All new trustees join an induction programme designed lo familiarise them with tho strategy, managemènt and day-tr)-day activty of Lodge Hill, . Organisational structure and de¢ision4naking policles The trustees meet as a board on al 18ast four occasions during the year. Closer involv8menl in the tharitys activities is maintained by appropriate committees of trustees, staff, users and professional advisers, Each ommittee reports to the board and is chair6d by a trustee. Committees that were ifi pla(x itb 2021 were.. Premises Financa Health ard Safety Marketing Vision The day-to-day activities have been directed by th& Chief Executive, Lisa May, who works Closety with the chairman of the Trustees. Shé is supported by her management team. Wider network Lodge Hill works with a wide range of youth and community organisalions but dS not have formal links wth any wider ne01, d. Pay pollcy lor senlor staff The Finan Cownmittee together with the Chairperson Tneet in Dember to consider salarias for key staff to be applied In the following financial y8ar. The Committee consider proposals from the Chief Execut4ve which take into account prevailing rates of pay in the local area together with any change in responsibilities. The Committee also consider the remuneration of the Chief Executwo. •. R8lat•d party relationships The Supporters of Lodge Hill is a separate charity (registration nutnber 10872691 that SUPPDrts the work of Lodge Hill. It has ils own constitution and trusle8s. The Trust owns the issuèd shar8 capital of Lodge Hill Servic8s Limited. Thi5 company is dormant and has not traded during the current financial year. f. Flnan¢ial Yisk management The Trustees consider the risks faced by the Trusl at a special meeting al the year end and also consider measures lo reduce their likelihood and impa¢l. Sudden loss of income is the principle concern sither from changes in the mathel which could reduce the capacity of the trust's clients to fund their visits or from damage lo the facilities. The former risk is countered by sustained, targeted marketing and efforts to incrp.ase the breth of its user groups. Risks to the facility are countered by careful management and an awareness of risks in the day to day operabons. Page 7
Lodge Hill Trust (A Gompany Ilmlted by guaranteè) Trustees. report (continued) For the year ended 31 December 2021 statem•Trt of Trustees. r¢sponsibilities The Trustees (who are also the directors of the company for the putTroses of company lawl are responsible for preparing the Trustees. report and the financial statements in accordance wilh applicable law and Uniled Kingdom Accounting Standards (Unrted Kingdom Generalty Accepted Accounting Practi1. Company law requires tho Trustees lo prepare financial statements for each financial . Under company law, the Tru5te8s must not approve the financial slatemenls unless they are satisfied that they give a Iwe and fair view of the stste of affairs Df the company and of its inming resource5 and application of resources, including its income and axpanditure, for that paricKI. In preparing thèse financial statements, th8 Trustees are required lo.. select 5Uttable accounting policies and then apply them consistently., - observe the methods and principle5 of the Charities SORP IFRS 102}', rnake judgments and accounting estimates that are reasonable and prudent., state whether applicable UK Accounting Standards IFRS 1021 have been folk)wed, subject to any material departures disclosed and explained irk thé financial statements., prepare th@ financial statements on the going concern basis unless it is inapproprkgle to presume that Iha company will continue in business. The Trustaes arB responsibl8 for k8@ping adoquale acc£)unling records that ar8 sufficient tr) show and explain the companls transactions and disclose with reasonable accuracy al any time the financial position of the company and 8nable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prev8ntion and detection of fraud and other irr&gularilies. Approvod by or r of the Mamr$ of th8 board of Trust88s and signed on their b8halt by= Mr Matthew Wyk¢s, DipPFS Dale.. 08 September 2022 Page 8
Lodge Hill Trust IA company.Ilmlted by guarantee) Independent examinerfs report For th• year ended 31 December 2021 Independent examinerfs r¢port to the Truste•s ol Lodge Hill Trust (Yh• Company'l r6POrt to the charity Trustees on my examinab'on of the accounts of the company for the ygar ended 31 Dacember 2021. R•sponslbilities and basis of report As th6 Trustees of the company land ils directors for the purposes of company18wI you are responsible for the preparation of the 8ccounts in accordance with the requirements of the Companies Act 20061'th8 2006 Acfl. Having satisfied myself that the aixounls of th8 company are not required lo bg audited under Parl 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the compathy's accounts carried out under section 145 of the Charili8s Act 2011 I'lhe 2011 Acl'}. In carrying out my examination I have followed the Directions given by Iha Charity Commission under section 14515}Ibl of the 2011 Act. Indèpend•nt •x4minw's statem•nt Since the company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. l Confirm that l am qualified to undertake the examination because l am a member of lenler body here), which is one of the lislod bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination glvlng me cause to believo.. accountino records were not kept in respect ot the company as required by section 386 of the 2006 Act., or the accounts do not am)rd with those records,. or the accounts do not comply with the accounting requirements of section 396 of the 2006 Act olher than any requirement that the accounts give a 'true and fairf view which is not a matter considered as part of an independent examination- or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for awounling and reporting by charities lapplicahle lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 10211. I have no concems and have come across no other matters in connection with the examination to which attentio should be dmwn in this report in order to enable a proper understanding of the accounts to be reached. This report is made solely lo the company's Trusletss, as a body, in accordance with P2rt 4 of the Charities IAGcounls and Reports) Regulabons 2008. My wotk has been undertaken so that I might state lo the companys Trustees those matters l am required to state to them in an Independent examiner's r&port and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and Ihe company'g Tnjstees as a body, for my work or for this report Signed-. Dated.. 08 September 2022 Simon Webber BA IHonsl, DChA, FCA Kreston Reeves LLP Chartered Accountants Chichester Page 9
Lodge Hlll Trust (A company Ilmltod by guarante•l Statement of fln4n¢lal aVIll•S Iln¢orp¢rallng In¢ome and expondituro a¢oount) For the year endgd 31 I*mb¢r 2021 Unrèstrtctsd funds Genor41 D&slgnated RgStrl¢t funds funds funds 2021 2021 2021 Totsl Total funds 2021 funds 2020 Income from: Donations and lega¢ies Charitable activities Investments Other income 110.718 396.629 1.382 25.373 108,556 219.274 395,629 1,392 25.373 258,156 218,814 1,687 30,375 Total Income 633,112 108,556 641.668 5(19.032 Expendlthre on: Charitable activities 439,522 47,400 141,560 628.482 600,093 T¢tal expondltur• 439.522 47.doo 141,580 628,482 600,093 Nel gains on investmerrts 7,146 7,146 5,934 N•t lexp•ndlraylnc0mO 93.590 {40,2541 133,0041 20,332 185,1271 Trnnsfers bthe fUS Net movement In funds 93.590 (40,2541 {33.0041 20.332 185,127) Reconclllatlon of fvnds: Total funds brDught forvRrd Nel movement in lunds 1121,8381 93,590 2.141,291 140,264) 126.637 2.146.090 2,231,217 133.004? 20.332 {85,1271 Total funds ¢arried forward 128,248} 2,101,037 93.633 2.166.422 2,146,090 The Statement of financial activities inoludes all gains and losses rpcognised in the year. The not@s on pages 14 to 33 fom part of these financial statements. Page 10
Lodge Hill Trust (A company limited by ouarantee) Registered number: 03590104 Balance sheet As at 31 Detsember 2021 2021 2020 Note Flxod assets Tangible assets 12 2,019,635 2,067,035 2,019,636 2,[7,035 Current assets Stocks 13 3,501 44,765 81,401 270,089 2,749 3,227 74,255 244,419 Debtors Invoslrnenls ash al bank and in hand 14 15 399.746 324,650 Creditors.. amounts falling due within one year 16 199,7641 (71,9321 Net ourrent ass•ts 299,982 252,718 Total assets less ourr¢nt liabilitie5 Creditors.. afTh)unts falling due after morè than one year 2,319,617 2,319,753 17 {153.196) (173,6631 Net assèts excluding pension asset 2,166rt22 2,146,090 Total n•t assets 2,166A22 2,146,090 Charity funds Reslricled funds Unrestricted funds 18 93.633 126,637 Designated funds General funds 18 2,101,037 128,2481 2,141,291 {121,8381 18 Total unrestricted funds 18 2,072,789 2,019,453 T¢)tal funds 2,166,422 2,146,090 Page11
Lodge HS11 Trust {A oompany limited by guaraEthel R•glst•rrfl number: 03690104 B4lan¢• sheet leontinu) As at 31 D•¢•mber 2021 The company was entided lo exemption from audit under section 477 of the Companies Act 2006. The members have not required th@ company to obtain an sudit for th@ year in question in accordance wlth sectlon 476 of Companies Act 2008. The Trustees acknowledge their rssponsibilities for complying wllh the requirements of the Act with respoct to accounting records and preparation of financial statements. The financial statements hava been prepared in accordancè with the provisions applicable to entities subject to the small companies regi. The financial statements were approved and aulhorised for issue by the Trustees and signed on their behalf by.. Mr Matth•w Wykes, DipPF8 Date= 08 September 2022 The notes on pages 14 to 33 fomi part of th@se finaThcial ststem6nt5. P8ge 12
Lodge Hill Trust (A Company Ilmlted by guaYantee} statement of oash flov Forthe year ended 31 D?fflr 2021 2021 2020 Not• Cash Ilows from oporatlng a¢tiviti¢s Nel cash used in operating activities 20 28.190 {39,6861 Cash flows from investing a¢tivitie5 Dividends, interests and rents from investmenls 1,392 1,687 Net cash provided by inv¢sting 4ctlvltlos 1,392 1,687 Cash Ilows from fin•nolng a¢tlvftl•s Cash inflows from new borrowing Repayments of rroWing 150,000 13,9121 Net cash (used InypTovid¢d by finanelng a6tlvltles (3,912) 150,000 Change In Cash and ¢ash equlvalents in th• year Cash and cash equivalents al the beginning of tlie year 26,670 112,001 244,419 132,418 Cash and cash equivalents at the end of the year 21 270,089 244,419 The notes on pages 14 to 33 form part of these financial slalements Page 13
Lodg• Hill Trust {A company Ilmlted by guarantsel Notes to the linancial statem¢nts For thè year ended 21 D•cemb¢r 2021 G•n•r41 informatio Lodge Hill Trust is a company limited by guarantee incorporated in England and Wales and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the Charity. The addr8ss of its registered office is.. Lodge Hill Walersfield Pulborough West Sussex RH20 1 LZ Accounting pollclos 2.1 Basis of preparation of flnan¢tAI statèments The financial statements have been prepared in ac£ordance with the Charities SORP IFRS 102) Accounting and Reporting by Charities= Statement of Recommended Practice applicable to charities preparing their accounts in accordance wilh tha Financial Reporbng Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20151, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companias Act 2006, Lodge Hill Trust 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 slated in the relevant accounting policy. 2.2 Golng concern The financial statements have tn prepared on a going concern basis. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authortsing these financial statements. The budgeted income and expenditure Is sufficient with the level of reserves for thè chaFity to be able to continue as a going concm. The charity has been tnalerially affected by the global Covid 19 pandemic whlch emerged in eady 2020. The related government imposed restrictions severely constrained the usual range of activities, whether on a residential or non-residential basis. There was a significant loss of income in 2020 compared with what had been expècted, although the charity did manage to adapt its seiCe Offeng to negate this to a certain extent. This included increased support and intorvenlton work vulnerable families arKI young people. The detrimental impact of Covid 19 on the charrty's operating cash flow was addressed by a range of measures including support from donors, control of costs, parb"cipation in the government's Coronavirus Job Retention Scheme, £50,000 of new funding under the Bounca Back Loan sch&me and a fvrther £100,000 5 year loan facility secured against the chaiity's estate. During the current repjtting period the charity has recovered well from the pandemic as restrictions were lifted. The cash and net current asset positions have both strerbgthened and as sucli, the trustees Ix)nclude that it is appropriate to adopt the going COnM basis in preparing the financial statements. Page 14
Lodg• Hill Trust {A cornpany limited by guarant•o) Notes to the financral statements For th• year ended 31 Decernr 2021 Accounting poliel6s {¢ontinuedl 2.3 Income All income is recognised On the company has entilletnent to the incorne, it ts probable thal the income will be recenied and the amount of income e7¥able (xn be measured reliably. The reujgnilion of income from legacies is dependent on establishing entillemenl. the probability of receipt and the ability to estimate with sufflent accuracy the amount receivable. Evidence of entitlement to a legacy exists when the company has sufficient evidence that a gift has been left lo them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is salisfigd that the ppertY ill question will not be required lo satisfy claims in the eslale. R6ceipl of a legacy musl be recognisad when it is probable that il will be recewed and the fair value of the atnounl Ceivable, which will generally be the expecled cash amount to be distributed to the company, can be reliably rneasured. Gmnts are Included in the Statement of financial aCtivleS on a re1vable basis. The balance of Income retsived for specific purposes but not expended during the period is shown in the relevanl funds on the Balan sheet. Where income is reiVed in advance of entillem@nl of re]pt, its recognition is deferred and included in creditors as deferred incorne. Where entitlemenl occurs before inwme is received, the incotne is accrued. Gifts in kind donated for distribub'on are included at valuation and recognised as income when they are distributed to the proiecls. Gifts donated for resale are included as inwme when they are sold. Where the donated good is a fixed asset, it is measured al fair value. unless it is impractical to measure this reliably, in which cas& the cost of the item to the donor should be used, The gain is recognised as income from donations and a corresponding amount is induded in the appropriate fixed asset class and deprecialed over Ihe usefvl economic life in accordance with the company's accounb'ng policies. On receipt. donat@cS professional seNices and facilities are recognised on the basis of the value of the gift to thé company which is the amount il would have been willing to pay to obtain seNiS or facililios of equivalent economic benefit on the open market,. a corresponding amount 15 then recognised in expenditure in th& period of receipt. Income tax recoverable in relation to donations received urbder Gift Aid or deeds of ctsv@nant is recognised at the time of the donation. Income tax recoverable in relab'on to investment income is recognised at the lime the investment income is receivable. 2.4 Expenditure Expenditure is recognised once therè 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. Expenditure is classified by activity. The costs of each activity are made up of the lotsl of direct costs and shared costs, inclLJding support wsts involved in undertaking each acb'vity. Direct costs attributable to a single activtty are allocated direcdy to that tiVity. Shared costs which contribute to fflore than one aCtlIty and support costs which are not attributable to a single activity aro apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent. and depreciation charges allocated on the portion of the asset's use. Expenditure on charitable actNlties is incurred on directly undertaking the activities which further the company's objectives, as well as any associated support costs. Page 15
Lodg• Hill Trust IA ¢ompany limited by guarants•) Notes to the Iln*n¢ial SOrnents For th¢ year onded 31 De6•mber 2021 Accounting policies l¢ontinu•d) 2.4 Exp¢ndituro {eontSnued} All expenditure is inclusive of irrecovsrable VAT. 2.5 Int¢rest ie¢•ivable Interest on funds held on deposit Is induded when receivable and the amount can be measured reliably by the company,. this is r¢ormally upon notifir2tion of the interest paid or payable by the institution with whom the funds are deposited. 2.6 Tanglblo fixed assets and deprocSAtSon Tangible fixed assets costing £2,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliabty. Tangible fixed assets are initially recognised at GOSL After recognition. under thg Cost model, tangible fixed assets are measured at cost less accumulated dapreciation and any accumulated impairment losses. All costs incurred lo bring a tangible fixed asset into its intended working (x)ndition should be included In the measurement of Gosl. Depre¢iatlon Is charged so as to allocate the cost of tangible fixed assets less their residual value over their eslirnated usefijl lives, on the following bases. Depreciation is provlded on the following bases- Freehold property, meeting hall 2 - straight line arsd campsite Kitchen, campsite and outdoor equipment Motor vehicles Fixbjres and fittings Office equipment 10_ 25Q/o Straight line 250A reducing balanc& 150A reducing balanc8 250/0 stralght line 2.7 Stocks stocks are valued at the lower of cost and net realisable valw after maklng due allowanek for obsolete and slow-moving stocks. Cost includes all direct costs and Bn appropriate proporhon of fixed and variable overh8ads. 2.8 Debtors Trade and other debtors are recognised at tha setuemonl amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 2.9 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 cr lèss from the dale of acquisition or opening of the deposit or similar account. Page 16
Lodg• Hill Tyusl (A company limlted by guarantstrl Notes to th• financi41 statsments For the year ended 31 De¢¢mber 2021 A¢counting policl¢s l¢ontlnu•d) 2.10 Liabilities and provisions Liabilitses are recognised when there is an obligation at the Balance sheet date as a result of a past eveNt, it is probable that a transler of economic benefit will be required in settlement, and the aTnount of the settlement can bo Ostimated reliably. Liabilrties are recognised at the amount that the company anticipates il will pay to setue th& debt or tha amount it has received as advan payments for the goods or se[ViS it must provide. Provisions are measured at the best estimate of the amounts required to sellle the obligakn'on. Where thé effact of the lime value of money is material, the provision is based on the present value of those amounts, discounted at the pie-tax discount rate that reflects the risks specific to the liability. Th8 unwinding of the discount is recognised in the Statement of financial activitios as a finan cost. 2.11 Finan¢ial instruments The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic finaCial instruments are initially recooni5ed al transaclK)n value and subsequently tneasured at their settlement value with the exception of bank loans which are subsequenuy measured at amorlised c£)sl using the effeckn.ve inter8st method. 2,12 Finance leases and hire purchase Assets obtained under hire purchase contracts and financa leases are capit81ised as tangible fixed assets. Assets acquired by finance leasè are depreciatèd over the shorter of the lease term and their useful lives. Assets wuired by hire purchase are depreciatéd over their useful lives. Finance leases are those where substantially all of the benefits and llsks of ownership are assumed by tha company. Obligations under such agreements are included in creditors. net of the finance charge allocated to future periods. The finance etement of the rental payment is charged lo the Statement ETrf financial activities SD as to produce a constant periodlc rale of charg& on the net obligation outstanding in each peri. 2.13 Oporating leases Rentals paid ullder operaling leases are charged to the Statemenl of financial adivities on a straight line basis over the lease term. 2.14 P•nsions In the past the company operated a defined benefits pension schenie for former omployees. The scheme is a multi employer scheme where it is not possible, in the nomTrl course) of events, to identty on a consislenl and reasonable basis, the share of underlying assets and liabilities belonging to individual participating employers. Therefore, as required by FRS102, the company accourbts for this scheme as if it was a defined conlribution scheme. The amoijnt charged to the Statement of financial activities inwrporating income and expènditure account represents contributions payable to the scheme in respect of the accounting period. The company operate5 a defined contribLrtion pension scheme and thè pension chargè represents the amounts payable by tlie company to the fvnd in respect of the year. Page 17
Lt)dge Hlll Trust (A ¢+Jmpgny limit•d by gustrantse) Not•s lo thè financial statem•nts For the year ended 31 Decamb•r 2021 Accounting pollcl•s l¢ontinu•d) 2.15 Fund aoUntIng General funds are unreslricled funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the compaiiy and which have not been designaled for other purposes. D8signaled funds Compri unreslricled funds that have been sot aside by the Trustees for particular purposes. The aim and use of each designated fund Is set out in the notes to the ffnanoal statements. Restricted funds are funds which are to be used in accordance with specific restrictions imFK)sed by donors or which have been raised by tho company for particular purposes. The c4)sts of raising and administering such funds are charged against the spe¢ific fvnd. The aim and use of each reslricled fund is sel out in the notes to the financial statements. Investment income, gains and losses are allocated to th6 appropriate tund. Crltl¢al aceounting estlmates and areas of judgment Estimates and judgments are continually evaluated and arè based Dn historical experienc6 and other factors, including expectstlons of ftjture events that are believ&d to reasonable under th8 circumstances. Critical accountlng estimates and assumptions.. The company makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by d6finition, seldom equal the related actual results. The estitnates and assumptiong that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilits.es wthin the next financial year are discussed below. Crllical areas of judgmentr Mulb'employer defined benefit pension scheme.. Certain former employees participate in a multiemployer defined benefft pension scheme with other companies in the region. Irs the judgement of the Iruslees, the company does not have sufficient informab.on on the plan assets and liabilities to be able to reliably account for ils share of the defined benefit obligation and plan assets. Thereft)re the scheme is accounted for as a defined contribution scheme, sae pension note for further details Page 18
Lodge Hill TTUSt {A company limited by guarantee) Notes to the flnanclal statsm•nts For the year ended 31 Deeemb•r 2021 In¢ome from donations and lega¢les Unr•striottsd Restricted funds lunds 2021 2021 Total nds 2021 Total funds 2020 Donations - Individuals Donations- Trusts Donations- Others Local authority grants CJRS gralll 15,1D5 1,000 23 15,105 37,000 23 72,566 94,590 6,785 127,150 3,000 36,000 72,556 94,590 121,221 110.718 108,556 219.274 258,156 Total 2020 206,156 52,000 258, 156 Income frorn donations and legacies for 2020 was £208,156 of unrestricted income and £52,000 of rastricled income. In¢om• from Charitable activities Unrestricted funds 2021 Totsl funds 2021 Total funds 2020 Residential and other charges Day confer&nces Activities Campsite hire 153,159 26.751 206,555 9,164 163,159 26,761 206,555 9.164 81,320 15,905 117,711 3.878 Total 2021 395,629 395.629 218,814 Total 2020 218,814 218,814 IncDme from charttabie activities for 2020 was £218,814 of unrestricted income and £nil of restricted inoom@. Page 19
Lodge Hill Trust IA company Ilmlted by guranl•o1 Nth•s to the flnanclal statem•nts For th• yèar •nd•d 31 D•c•mb•r 2021 Inv•stm•nt in¢om• Unrestrlcted funds 2021 Tt>tl funds 2021 Total fvnds 2020 UK quoted investments UK bank accounts 1,363 29 1,363 29 1,595 92 1,392 1,392 1,687 Total 2020 1,687 1,887 Inve5tm6nt income for 2020 was £1,687 of unrestricted income and £nil of restricted incom8. Oth•r inGomlng resources Unr•strict•d funds 2021 Total funds 2021 Total fvnds 2020 Phone mast income 15,455 5,418 4,500 15.456 5,418 4,600 15,201 11,674 3.500 Rental income Staff accommodation income 25,373 26,372 30,375 Total 2020 30,375 30,375 Other incoming resou5 for 2020 was £30,375 of unrestricted income and £nil of restricted in(x)me. Analysis ot expenditure by a¢tiviti¢s Aetlvities undertaken dire¢tty 2021 support costs Total funds 2021 Total funds 2020 2021 Activities 618,773 9,709 628,482 600,093 Total 2020 587,939 12,154 600,093 Page 20
Lodge Hill Trust {A comp4hy limlted by guArant¢el Not•s to the financial stat•ments For the year ended 310ec•mber 2021 Anatysis of expenditur• by actlvits•s IcontSnu¢d) Analysls of direct costs Total funds 2021 Total funds 202Q A¢tivits'es 2021 staff costs staff training and welfare Activities expenses Cleaning and laundry Course expenses Domestic seNices Equipment purchastsd Instructors 365,508 5,062 26,981 1,452 25 3£5.508 5,062 26,981 1,462 25 17,178 365,653 2,500 9,223 1.403 80 17,178 7.556 5,594 748 107 20,370 24.390 1,558 2,698 8,317 77,721 48.452 4.651 2,506 4,412 3,551 1,149 14,385 28,850 5,551 2,114 8,og7 47,400 76,860 4,448 788 3,661 1,149 14,385 28,860 5.661 2,114 8,097 47,400 76,860 4,448 788 Unlfomi Insuran Light and heat Motor and travel Piintinu, postage and stationery Rates Depreciation Repairs and maintenall Telephone Sundry expenses Interast 9,374 9,374 618,773 618,773 587,939 Totsl 2020 587,93g 587,939 Page 21
Lod9e Hill Trust (A conipany limited by guarant•el Not•s to th• finan¢lal stst¢ments For th• y•ar ended 31 Decnber 2021 Anatysls of èxp¢nditure by a¢tlvitie5 {continued An•lysis ol support C05ts TotAI funds 2021 Total funds 2020 AGtivities 2021 Staff training and welfare Legal and professional Activities expenses Governance e4)st8 1,105 35 945 7,624 1,106 35 945 7,624 1,201 1,834 1,022 8,097 9,709 9,709 12,154 Total 2020 12,154 12,154 Govemance costs comprise of independent gxamination fees of £3.600 12020.. £3,600) and other a(xountancy fees of £4,02412020. £4,497}. Indapendent examinorf5 remuneration 2021 2020 Fees payablè to the company's independent examiner for the indeper¢dent examination of the company's annual accounts Fe85 payable to the companls independent examiner in respect ot. All other seryices not included abov8 3.600 3.600 4,024 4.497 10. Staff costs 2021 2020 Wages and salaries Social Serity costs Pension costs 340,261 21.917 3,330 343,260 18,186 4,207 365.508 365.653 Page 22
Lodge Hlll Trust IA company limitod by guarantee) Not•s to th• finan¢ial statsmfrnts For lh• yoar •nd•d 31 Docombor 2021 10. Staff oosts leontinuedl The average number of peOn$ employed by the company during the year was as follov4s'. 2021 No. 2020 Full and part time staff 33 27 The number of employees whose employee benefits {excluding employer pension CL)stsl exceeded £60,000 was.. 2021 No. 2020 No. In the band £60,001- £70,000 Details of key management personnel can be found on the information page. 'fhe lolal amount of employee benefits lincluding employer pension contributions) received by key management personnel for the services lo the charity were £157,48412020'. £179,632). 11. Trustees. remuneration and expense5 During the year, no Trustees receivsd any remuner21ion or other benefits12020 - £NIL). During the year ended 31 Décernr 2021, no Trustee expenses have been incurred12020 - £NILI. Page 23
Lodge Hlll Trust IA Gompany Ilmlted by guarant••l Note5 to lh¢ financial statements For the year ended 31 December 2021 12. Tangible fixed assets Freehold property, m••ting hall Fixtures, 4nd fittlngs and Campsite equipment Total Cost or valuation At 1 January 2021 2,701,242 342,722 3,043,964 Al 31 December 2021 2,701.242 342,722 3,043,964 Depreciation At 1 January 2021 Charge for the year 699,726 37.466 277,203 9,946 976,929 47AOO At 31 De¢smb8r 2021 737,181 287.148 1,024.329 Net book valu• At 31 December 2021 1,964,061 66.674 2.019,635 At 31 Dernber 2020 2,001,516 65,519 2,067,035 The net book value of assèts held under finance leases or high purchase contract5, included atx)ve, is £22,122 {2020.' £27,653). 13. Sto¢ks 2021 2020 Catering Finished goods and gcx)ds for resale 2,270 1,231 1,310 1,439 3,501 2,749 Page 24
Lodg• Hlll Trust IA company limited by guarant••} Notos to the tlnanclal statements For tho ytrar &nded 31 De¢ember 2021 14. Debtors 2021 2020 Du• within on• year Tradè debtors Prepayments and accrued income 38,896 5,860 46 3,181 44,766 3,227 15. Currenl asset invostm•nts 2021 2020 Listed investments Unlisted investments 81,022 379 73,877 378 81,401 74,255 16. Creditors: Amounts lalliny due withln one y•ar 2021 2020 Bank loans 10,437 14,405 17,248 9.440 2,549 45,680 4.723 12,104 26,742 8,013 2,475 17,874 Trade crediLor8 Other laxalion and social security Obligations Ltnder finance lease and hire purchase contracts other creditors Accruals and deferred income 99,764 71,932 2021 2020 Deferred income at 1 January 2021 Resources deferred during the year Amounts released from previous perio(Is 12,924 40,260 112,9241 20,188 12,924 120,1661 40,260 12,924 Deferred income comprises of phone mast inco £15,201 (2020- £12,668), renlal Income of £25612020.. £2561 and activities income of £24,80312020'. £nill. Page 25
Lodg¢ Hill Trust IA ¢ompany limit•d by gu2rJnlee) Notas to the finan¢lal statements For the year *nd•d 31 D•cembor 2021 17. Creditors: Amounts falllng du• aft•r mor• than one year 2021 2020 Bank loans Net obligations under finanGe lease and hire purchase contracts Other creditors 136,651 11,986 6.668 145,277 20,279 8,107 153,195 173,663 A Bank loan of £100,000. included in creditors falling due after more than orse year, Is secured by a fixéd charge over the tangible fixed assets of the Charity. Page 26
Lodge Hill Trust (A company limited by guorant•el Notes to th• financial statsments Forthe year ended 31 December2021 18. statement of funds Statement of funds - current year Balance at 31 Gainsl Docember {Lossesl 2021 Balanc• at 1 January 2021 In¢om• Expenditur• Unrestriel•d lunds O•signated funds Fixed asset fund Continuity reserv6 2,067,034 74,257 {47,4001 2,019.634 81,403 7,146 2,141,291 147.4001 7.146 2.101,037 General funds General Fund (121,838) 533,112 (439,522) (28,2481 Total Unr•stricted funds 2.019,46J 533,112 1486,922) 7.146 2,072,789 Reslrioted funds Tennis court Rank foundation Sno-tubing Adapted golf buggy Challengeu Small restricÉed funds In me.mory of P Hardwick The Vision Project- Phase 2 2Dth Anniversary We Cycle Too Kayaks Telescope Christmas pudding concert Covid relief gr8nts 1,838 820 899 2.410 60,851 2,773 430 56,$49 6,094 1,600 2,704 269 500 1,838 820 899 2A10 21,451 2,642 430 36.000 (66AOOI 1131) {3,4731 53,076 5,094 1,50Q 2.704 269 600 72,666 72,556) 126,637 108,556 (141,560) 93,633 T¢Jtal of funds 2.146,090 641,668 1628,482) 7,146 2,166A22 Page 27
Lodge Hill TTUSt IA ¢ompany limlt•d by guarants•) Note5 to the financial statsments For the year ended 31 DetseMb•r 2021 18. Statement of funds l¢ontlnued) Designatod funds: The ffxed asset fund is nol readity available tr) spend, it is the balance of the fixed a88els' value. Th@ Continuity reserve is the balan(* of the current asset investments, value. General funds: The trustees have considered the deficit in the general fund and consider this lo be Éemwrary, and have therefore not considered il necessary to draw down on the continuity fund. The trustees will review this position in future years, should the situation change. R•stri¢ted funds.. Tennis court- funds receNed to cover the costs of building and maintaining the tennis Court. Rank foundation funds received lo cover the costs of a students living and general 8xp8nses whilst completing an apprenticeship al Lodge Hill. Sno tubing funds - recelvgd to cover the costs of building and maintaining the sno tubing activity. Golf buggy - funds r1Ved toward the costs of an adapted golf buggy which will be purchased once suffiaent fvnds hav8 been Taised. Challengeu funds - received to cover certain staffing costs of the Challengeu proiect. The Vision Project - funds reiVed in relation to the refvrbishment.and extension of the kitchen. dining and residentlal facilities in order to accommodate the increasingly larggr groups wishing lo visit Lodge Hill. Funds were red from many donors. induding not limited tri.. Individual donations, Garfeld Weston, Bradbury Fourldation, ACT Foundal'on, Ernest lQeinwort Charitab16 Trust, Edward Gosling Foundallon, Foyle Foundab"on, Hobsons Charity, Beatri Laing Foundation and Bassil Shippham and Alsford Trust. Upon expenditure of the restricted income reIved into this fund, on capital items wthin the restriction, the fund balance is transferred to the designated fixed asset fund, as it Is no longer available for expenditu. In memory of P Hardwick - funds received in memory of the late Presidenl, Penny Hardwlck. These funds are being applied to the Vision Project which she fully supported. 20th Annwersary - Lodp Hill has successfully raised furbds to install a bespoke disability suite with adjacent carers bedroom and en-suite on the ground floor of Hardwick Hall. Lodge Hill now n&8ds to ra15e £3,000 for soft fumishings, an irblercom system and equipmènt lo make the suite Comfortab and homely for future visitors. We Cycle Too ~ This donation was made lo maintain tho Disability Bikes which were gifted to Lodge Hill in 2018. Kayaks - This funding was glv2n by th& Hedley Foundation for the purchase of Kayaks and equipment. TeleOre - These funds were donated by the Rotary Club of Slorrington and PultM)rough District for the purchase of a telescDpe and training for delivery of sessions. Christmas Pudding Concert - This fvnding was raised to be used for the fixtures and fittings for the Disability Suite. when complete. Covid relief grants - Received to contribute toward core costs and essentral staffing throughout the period the Centre was ck)sed due to the pandemic reslricb'ons Page 28
Lodge Hlll Trust {A compny limitsd by guarantee) Notes to the flnnclal statsments For th• year ended 31 De¢ember 2021 18. Statement ol funds Icontinuedl Slatem¢nt of funds - prior year Balance 8t 31 D8mber 2020 Balan at 1 January 2020 Gainsl ILossesl Income Expenditure Unrestrlcted funds Designat•d funds Fixed asset fund Continuity rasetve 2,144,755 68,323 177,7211 2.067,034 74,257 5,934 2,213,078 177,721) 5,934 2,141,291 Gen8ral Fund 180,3101 457,032 1498,5601 1121,8381 2,132,768 457,032 1576,281) 5.934 2,019,453 Restricted funds Tennis court 1,838 820 1,838 820 899 2,410 50,851 2,773 430 56,549 5,094 1,500 2,704 269 SC Rank foundation Sno-tubing Adapted golf buggy Challengeu Small rest[ed funds In mefflory of P Hardwick The Vision Project- Phase 2 20th Anniversary We Cycle Too Kayaks Telescope Christmas pudding concert 899 2.410 21,452 2.935 2,248 56,549 5,094 1,500 2,704 48,500 119,101) 1162) 11,8181 3,000 500 {2,731) 98,449 52,000 123,8121 126,637 Totsl of funds 2.231,217 509,032 (600,0931 5,934 2,146,090 Page 29
Lodge Hlll Trust IA ¢ompany Ilmlt•d by guarantee) Notes to tho financial statements For the year onded 31 Dember 2021 19. Analy515 ol net ass¢ts betweèn tsnds Anqlysis ol not ass¢ts tween funds - CYent year Unr¢striGted Restrlotod funds funds 2021 2021 Total funds 2021 Tangible fixed assets Current assets credEta due within one year Creditors due in more than ona year 2,019,635 306,113 199.7641 1153.1951 2,019,635 399,746 199,764 {163,1951 93,633 Tot#1 2,072,789 93,633 2.166A22 Analysis of n•t 2ssets betwoen funds - prlor yeir UnrestriGled funds 2020 Restricted funds 2020 Total fvinds 2020 Tangible fixed assets Current assets Creditors due withln one year Creditors due in rnore thafj one year 2,067,035 198,013 171,9321 {173,6631 2,067,035 324,650 171,932) (173.663) 126.637 Total 2,019,453 126,637 2,146,090 Page 30
Lodge Hill Trust (A company limited by guaranteel Notss to th• flnancial statements For the y*ar •nded 31 December 2021 20. Recon¢iliatlon of net movement In funds to net cash flow from operating a¢tivitie5 2021 2020 Net incomelexpenditure for the year las per Statement of Financial AGtiviliesl 20,332 185,1271 Adjustments for: Depreciation charges (Gainslllosses on investments Dividends, interests and rents frovll investrrEnls Decreasellincreasel in stocks Decreasellincreasel in deblnrs Increasel{d8crease) in -reditors 47.400 (7,1461 {1,3921 {7621 141.628) 11,278 77,720 15,9341 11,6871 2,052 26,558 153.2681 Net cash provlded byl{us•d in) operating activiti¢s 28.190 139,686) 21. Analysls ol Gash and cash equivalents 2021 2020 Cash in hand 270,089 244,419 Total Cash and cash equivalents 270,089 244,419 22. Anolysls of Ghanges in net debt At1 January 2021 Cash Ilows At31 Docember 2021 Finance l•ases Cash at bank and in hand Debt due wthin 1 year Debt due after l year Finance leases Liquid investment8 244.419 {4,723) {145,2771 {28,2921 74.255 32,536 (6,714) 9,626 (6,8661 270.089 {10,437) 1135,651) 121,426) 81,401 6,866 7.146 140,382 43,694 183,976 Page 31
L4dge Hill Trust IA Company Ilmhod by guarant¢el Notes to the financial statsm•nts For the year•ndod 31 D•c•mber 2021 P•nsion Commitments D•fin•d contrlbutlon sehem?: For current employees, Lodge Hill Trusl operates a defined contribution pgnsion scheme. The assets of the scheme are held separatety from those of the chatity in an independently administered fund. The pension costs charge(1 lo the statement of financial activities represents contributions payable by the charity to the fund and amounted lo £2,271 12020.. £4,809). There were outstanding contributions at the balan sheet date of £nil.12020.. £nil). Multi employ•r defined benefit pen51on sch¢m•'. For certain former empk)yees, Lodge Hill Trust participates in The Pensions Trusys Growth Plan (the Plan). The Plan is funded and is not contracted out of the stale scheme. The Plan is a multi employer defined pension plan. The charity's eligible employees are auto enrolled into the pension scheme with The Pensions Trust. The Plan Is a multi employer scheme where the plan assets are co-mingled for investment purposes, and benefits are paid from the total Plan assets. It is not possible in the normal course of events to idenb'fy on a rÈasonable and consistent basis the share of the underlying assets and liabilities belonging to the Indlvidual participating employers. Due lo the nature of th& Plan. the acctsunt'ng charge for the year under FRS102 represents tho 6mployer cofitribution payable. The rules of the Plan give the TTUStees th8 power to require employers to pay additional contributNJns in order to ensuie that the statutory funding objective under the Pensions Act 2004 is mel. The statutory funding objective is that a pension scheme should have sufficient assets to meet its past SeiCe Irabilities, known as technical provisions. If the actuarial valuation reveals a deficit, the Trustees will agree a recovery plan to eliminate the deficit over a specified period of time either by way of additional contributions from employers, investment Tetums or a combination of these. The rules of the Plan stale that the proportion of obligatory contribLrtions to be kx)rne by the member and the member's employer shall bè determined by agreem8nl between them. Such agreement shall require the employer to pay part of such contribukn'ons and tnay provide that the employ&r shall pay Ihe whole of them. The totsl employer contribution made for the year ended 31 December 2021 was £3,20812020'. £2,603). The agrd normal contribution rates for future years are 30/0 for the employer and 50/0 for the employees. At the year end there were outstanding contributions of £nil1202D.' £nill. As at the balan sheet date there were O active members of the Plan employed by Lodge Hill Trust. Actuarlal valuallons are carrigd out every three years for funding purposes using the projected unil method. The fundillg position is lculated by comparing the assets with the past seNice liabilities as al the valuation date. Asset values are calculated by reference lo market levels. Accnjed past service liabilities are valued by discounting expected ftjture benefit payments using a discount rale calculated by referenc8 to the expected future investment returns. The most recent valuation available results are as at 30 September 2017. The marf(et value of the Plan's assets at the valuation date was £796 million and the Plan's Technical Provision5 li.e. past service liabilities) were £928 million. The valuation therefore revealed a shortfall of as5els compared wlh the value of liabilities af £132 million. equivalent to a funding level of 86%. Regulations require the Trustee to set a prudent basis for valuing the Scheme's banefits. talang into account the strength of the employers, covenant and the Scheme Actuary's advice. The Truslets is also required to corbsult with employers or their representative. The Growth Plan Employer Consultative Group IGPECGI, which acts as the employers. representative for th@ purposes of Scheme funding, have been consulted on the valuation basis and assumptlDns. The value of the liabilities on this on going basis is Page 32
Lodge Hill Trust {A oomp#ny limtted by guarant*•l Notes to the financlal stst•ments For the year trnded 31 De¢ember 2021 23. Pension oommitm•nts {¢ontinued) known as the Technical Provisions. Where a Scheme's assets are less than the Technical Provisions a recovery plan must be put in place to show how the deficit Can be eliminated over a flxed period. The recovery plan musl be submitted to The Pensions Regulator who may investigate SCherS and require changes where the Technical Provisions 8ra sel at too low a lev$1 or where the rocovery period is loo long. The recovery plan for the Growth Plan elms to eliminate the deficit via a combination of additional contributions from employers and investment returns. The results of the 30 September 2015 valuation showed a reduction of eight tnonths in the1ength of the recovery plan, which will now ènd on 31 January 2025 instead of 30 September 2025. Under FRS 102 the amount of additional contributions for Lodge Hill Trust in the period to 31 January 2025 have bèen included as a liability in the accounts. Operafjng lease commilm•nts At 31 December 2021 the company had commitments to Make fvture minimum lease payments under non-cancellable operating leases as follows.. 2021 2020 Not later than 1 year Later than 1 year and not later than 5 years 4,202 4,584 2,292 4,202 6,876 The following lease payments have been recognised as an expense in the Statement of financial activities.. 2021 2020 Operaling leaso rentals 4,684 4,584 25. Relat•d party transactions There w6re no transactions with relal@d parties in the year12020= £nill, 26. Controlling party The company is controlled on a day to day basis by the trustees who are the directors of the company. 27. Support&rs of Lodge Hill The Supporters of Lodge Hill 18 a separate charity (registration numkr 10872891 that supports the work of Lodge Hill It has its own constilution and trustees. Page 33