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2021-03-31-accounts

Trustees BToner (Chair ofBoard) BToner (Chair ofBoard) BToner (Chair ofBoard) BToner (Chair ofBoard)
C Cooban (Chief Executive)
N Topping
(Chair of Operations		 Committee)
A Jones (Chair of Audit Committee)
K Halllday
G Maidens (resigned 16June 2021)
N Bradbury
J Bennett
V Pritchard-Wilkes (appointed 25 November 2020)
T Pattni (appointed 25 November 2020)
D Sizer (appointed 25 November 2020)
Company secretary C Cooban
Registered number 03685650
Registered office 7-8 imperial Court
12Sovereign Road
Kings Norton
Birmingham
B303FH
Independent auditors Dains LLP
15Colmore Row
Birmingham
B32BH
Bankers Royal Bank of Scotland pic
57 Calthorpe Road
Edgbaston
Birmingham
B151TT
Barclays Bank pic
6th Floor
1 Snowhill
Birmingham
B46GN
Website www. bcop.org.uk
Charity number 1074954
Regulator ofsocial housing
registration number L4218

Page
Group strategic report 1-22
Trustees'
report		 23-24
Trustees'
responsibilities		 statement 25
Independent
auditors'		 report 26-30
Consolidated
statement		 ofcomprehensive income 31
Consolidated
statement		 offinancial position 32
Charity statement offinancial
position		 33
Consolidated
statement		 ofchanges in reserves 34
Company
statement
of		 changes
in		 reserves 35
Consolidated
Statement		 ofcash flows 36-37
Analysis ofnet debt 38
Notes to the financial statements 39-71

Progress
in achieving
performance
o		 Progress
in achieving
performance
o		 bjectives bjectives in 2020-2021 (continued)
Specifically, we have been able to make progress in the following areas:
Our priorities for Key objectives Key achievements:
2020-2021:
STRATEGiC PURPOSE
Ensure viability of Mlnimise inodence and Responded
swiftly to the Covid-19 crisis when
good qua!Ity impact of Covid-19 upon one ofour services was affected in early March.
services services This action ensured that 75%ofresidents
vrith
Ensure Good ratings from suspected orconfirmed
virus survived the
CI1Cand key stakeholders outbreak which affec.ed the home
Avoided major Covid.-19outbreal's
in nursing
Irnplcment
irnprovernents
to operations
at
underperforming
services		 homes during second and third vraves of
Infectio&l.
All three nursing
care homes maintain
'Good'
rating by the Care Quality Commission.
Conclude roil-out of Maintained
'flexing to occupancy. ' Adjusted
digital care system
organisation		 across staffing
levels in line with resident
numbers
and
care needs.
Commenced
final phase ofimplementation
of
Reduce number of
complaints		 e~are planning
at third horne, including staff
training.
Received positive feedback from families
in
relation to opening up horne visiting in line vrtth
Improve occupancy rates Public Health guidance.
at sAernes
STRONG SOOAL BtjSlNESS
Ensure business Financial
surplus
and		 Operating
surplus
increased
by 6794 against
a
resilience performance reduced turnover of2%compared
to previous
year, generating
an EBITDAof9.6%, This v as
Regulatory
Hg 5		 mainly due to government
grar&ts and reduced
non-essential
expenditure
on repairs whilst
compliance balancing the need to maintain
high standards
ofcare and meet regulatory
responsibilities
Business development Met loan covenants from bank
and responshreness
changing
market		 to ~ Migrated
all nursing
income and ail expenditu~e
to new bank account
Contract reviews
as
ofValue for Money
review		 part ~ Secured Coronav&rus
Business Interruption
t.oan
Focused on essential
Health
g& safety vrorks
given Covid restrictions
on access toproperties.
Review ITestate/
for business fit		 systems Achieved
'High' compliance on care home HSS
inspections.
Cornrnenced
implementation
ofBeard
approved three year IT8 Digital Strategy
including
move to VOIP telephony,
Wifi
upgrade
and Offrce365 migration.

Our priorities for Key oblectives Keyachievements:
2020-2628
Commission
Stock		 Mere strategic business
p'lanning
vras delayed
Candltian
Survey ta		 during current pandemic.
provide basis for Asset
Management
Strategy
Assess compliance
against new NHF Code af
Governance
STRONG PERFORMANCE
improve aur ways Improve recruitment and ~ Staff recruitment
and retention
remain critical to the
ofworking to retention
with people		 consistency ofservice that we offer
Staff turnover
ensure that we are who share aur values was 18.596for the year, which was a 696decrease on
better able to the previous year and signicantfy
below the sector
meet future
demands:
People
atthe heart ofaur		 Value, develop and
recognise staff		 average of3195{Skillsfor Care, 2019)although
sector-wide
results from the pandemic
are still
awaited.
service Refresh arganisational
training
matrix according
ta role and gradate
enhance staff
development
and
capability		 ~ Ofstaff who leftthe arganisatien,
6496were carers
which
Is abave the nationa'I average af39896far
frontline care rales (Skills for Care, 2013),although
this proportion
may change once ma re accurate
data en the pandemic
isavailable. We are constantly
monitoring
the reasons for depa rlure ofstaff,
espedally
in the erst year ofservice, recagnfslng the
implicit challenges faced by staff through
t'he Covid-
Strengthen
absence		 19crisis.
management
and		 s Reducing agency bours as aprapartion
afthe total
performance
controls		 staff hours continues to be a key priority,
and we
aim taget bolaw 796af total staff casts. Agency casts
Recruit new Board far. the year vrere below the target at 496. This has
mern'bars been impacted
marginally
tavrards the and ofyear
as a result ofCavid-29.
Rebrand the work of ~ initiated
actions arising fram the Board-approved
BCDP People and Workfarce Development
Strategy, 2021-
23.
Farrnalise
volunteering
opportunities		 ~ The roll-aut ofthe n.ew training
matrix scheduled
far
April 2020 had to be amended
du etothe Cavid-19
situation
with more emphasis
being pieced on e-
learning
and use ofwarkbaoks,
rather than face-ta-
facetraining.
& Recruited three new Board Members.
~ Approved
and soft launched
new branding far BCOP,
including
refreshed
Values, and commenced
the rail-
out af a new Communications
Strategy.

princip@ risks princip@ risks RIsk appetite KeycantrotsJacticrns KeycantrotsJacticrns
Quallity of' care is The charity is committed ta Scrutiny and reporting from the
impacted providing
gaodi quality care and		 Oparatians
Committee.
negatively support
mlnimising
the potential		 for Quality assurance
framework
Serious service
disruption
e.g
pandemic		 service failures or discontinuity
such
as safeguarding,
serious incidents or
other regulatory ar legislative
breach		 ~ supported
by appropriate
management
iinformation
svith focus
an Covid response/
capacity tracker.
Updated
Policy and procedures
based
an changing
guidance.
The current pandemic
situation
has
affected all organisations,
and the		 Staff training
in key areas e.g.
control.		 Infection
Baard iscommitted to protecting
the lives and welfare at all our ~ Electronic care records, and
residents
and staff at this most		 notifications to CQC.
challenging
time, balancing financial		 Effective communications
with
requirements
with mamtaining
aur		 regulators,
commissioners
and
care standards families.
~ Complaints
management.
Business Cantinuity
Plans.
Whistlebiowing
policy.
Failure of We operate in a highly regulated Scrutiny and reporting
bythe Audit
financial and financially
challenged sector.		 Committee.
sustaina'bility e,g. We need to ensure sufficient Fees are agreed
in advance with
-price surplus
'to enable effertrve financial		 commissioners
or self-funders		 with
-liquidity and operational
management.		 fixed payinent
cydas.
-credit Key financial concerns are: Payment ofsuppliers
managed		 with
-cash flaw I the fee income not rising at a rate our payment terms.
sufficient ta meet the rising casts
and standards
ofsocial cere		 ~ improved
forecasting to ensure
appropriate
cashflow,
liquidity		 an
and
~ increasing
uncertainties
in the		 ability to meet borrowing
commissioning
environment
with		 commitments,
reduced local authority
and CC6
budgets		 ~ Close monitoring
and reporting
bank covenants
against existing		 on
loans.
~ exhaustmg
funds far those wha		 ~ Use afforecasting, scenario- and
pay privately stress-testing
to understand
relations
between occupancy, fees and stafnng
as the key business drivers.
~ Budgetary process and controls,
monthly
management
reporting
induding
dashboarcils
an d variation
monitoring.

Principal risks risks Risk appetite Key cantroBi/ actions
Carnpliance with The charity operates
in a highly		 ~ External assurarice
ratings, audits and
regulatory and regulated
sector.
Fallureta meet		 reports through
Care Quality
statutory these requirements
vrauld resul		 in Commission
and allied bodies.
requirements risk oflharin to service users and ~ Policies and procedUres
which
employees
which
isnot acceptable.		 reinforce
aculture af compliance.
The Baard has na appetite for
services to operate outside
reguilatary
requirements		 A Quality Assurance fra mev ork which
monitors
compliance
and progress
against any Oevelopment
and Action
plans, including
Une ofSight and
exceptional
reporting.
~ Appropriate
level ofresource made
available for staff training.
~ Training matrix that is ra!e and grade
specific.
~ Safeguarding
policy and training.
~ Use ofexterna
Icompliance expertise/
auditors
in HR and Health &Safety,
including
Fire Risk compliance.
Failure to attract The Baard recagnises that staff farm ~ Staffing review and benchmarking
and retain, the heart afthe arganisatian;
with		 against recognised models ofcare.
workforce that the majority ofrolleagues
invoked		 ~ Biannual
HR reporting
an staff metrics
embodies
culture
&		 our
ethos		 in frontline services.
Colleagues are
reriuited
in relation to their fst with
the ol'ganisatlanal
values		 Clear Jab descriptions
and contracts.
StaffWellbeing
surveys
and 'check-ms'
by senior staff.
Alang with other care praviders,
recognise the challenges. around
recruitment
and retention of
nursing
arid care teams given the		 we Contingent,
rapid response planning
piece to mininnise
dis:uption
should
critical staff r..embers leave the
organisation		 in
more campetitive
salaries ar d		 Investment
in systems
and processes
employee
benefits ofthe NHS,		 to support operational
efficiency e.g. s-
changmg
public perceptions ofcare		 care planning,
homes, and the reputation
ofthe		 ~ Monitar sickness absence.
social care s~or. Maintain
effective relations
with key
agencyit recruiters.

Strategic Riisks Riisks The Btia rd Is ariindlful oftihe balan ce Is ariindlful oftihe balan ce Is ariindlful oftihe balan ce Strategic Risk Register asa standing
related to between providing
sufficient 'term		 item on Saa& an d Audit Committee
underpenfarrning around tinn8'far services against the meetings.
services financial sustainability ofthe whale Devefapment
Plians defined for
arganisation,
especially		 during a iridivldual
schemes ihave been delayed
global pandenmic. dua ta cunrent need ta focus on
irnaiiritaining
safe services.
~ Additional
controls
inlplace for
pl'an, ning end monitoring
ageitcy use.
Oaser coordination
between the
Support Office and the administrative
function
in the horne
Operational ris'ks Ase.frantline care service, our Comprehensive
setofpolicies and
mputatiari is diosely. aligned to how procedures
that are supported
thraugh
we manage„develop and respond'to staf'f induction
and cascaded through
issues that may arise within aur staff updates.
services. 7he organisatian
adopts a
transparent
approach to dealing		 Review ofsystems
and processes. ta
ensirre as-tisfactary
level of
with such matters
in order tomeet
auf duty ofcandour.		 aperationa
Iefficiency
Reporting ta the Board with ctea r
escal'ation
policy from frantlrne
services ta rnanagernent,
senior
rnanageinent,
CEQ and IBoard around
issues of whlstlebtowing,
serious
incidents, fraud ar other concerns
Bu~~ness continuity
measures
in
relation ta IT critica1 failure or other
fonrns afbusiness interruption.

e key metrics
are		 as follows:
RSH Metric name 2019 2020 2021 Variation between Peer group
Years 2020 and 2022 median 2020-21
a. Reinvestment f57,000 f17,000 f6,994 Reduction off10k Absolute figures
Equates to
0 1%		 limited capital works
due to Covid. Essential
repairs 5maintenance		 not available.
1.6%
works were carried out
in the year,
b. New Supply Nil BCOP is not a housing 0.2
(Social and Non deve loper,
Social Housing)
c.Gearing {Group) 12 1% 10.8% 3%reduction of
dependence
on debt		 28.0%
finance.
d. EBITOA (Group) 7.8% 8.9% Marginal
improvement		 Not available
due Ilo impact of
Grants.
e. EBITDA MRi 436% 641% 351% This measure
is more		 258.5%
interest cover relevant for Housing
(Group) development
to gauge
the scope for additional
borrowing.
f. Headline
Social		 f8,171 f8,760 f6,701 Reduced
by f2.1k due		 f4,666
Housing
Cost per		 to
reduced
routine
Unit rnalntenance.
g. Operating (1.98%) Marginal
increase due		 19.9%
Margin% (Group) to reduced
Repairs
expenditure.
h. Return on 0.8% 1.2% 1.8% Marginal
improvement		 3.396
Capital Employed
(ROCE) %(Group)

Metric 2019-20 2020-21 Forecast 2021-22 2021-22 2021-22
Quality —services receiving a 1009o 100%
good CQC rating or above (%
beds)
Qua llty —Number of Nursing —7 Nursing —2 Reduce from
complaints Housing -1 Housing —4 (1 not prior year
closed by year end)
Quality —carehon1e. co.uk Anita Stone Court ASC8 7 Aim far 9.8for all
scores" 9.879 NWH 9.2 services
(Leading care review site for Neville 1Villiarns
family and friends. Scores out House 9.786 RHH 9.8
of 10} Robert Harvey
House 9.840
People —staff turnover % 25% 1&.59f Maintain below
(Sector average (Sector average 30%
31%,Skillsfor Core, 31%,Skillsfar Core,
2017) 2019}
People —staff
ickness %of		 3.49o 7.7%o Maintain below
tota l hours (Sector average (Includes Covid- 4.5%
4.8%,Skills for Care, related sickness
2019} absentee; no robust
benchmarks
avagable}
Occupancy level Nursing -96%
Hous.lng-92.7%		 Nursing —85.3.%
Housing —81.3%		 91%;Under
review
in light
Covid-19		 of
Overhead costs as %of 12.479o 12.85% Maintain below
turnover (Group) 13%.Peer
median
is		 17.7%
Support Office costs as %of 10.4% 116% Maintain below
Furnover(Group) 13%
Repairs/Maintenance f240,087 f153,935 Under review
in
light of Covid-E9
includes minor
improvement
works.

2021 2020
Note Z F
Turnover 4 7,662,848 7,814,324
Operating
expenditure		 4 (7,211,107) (7,543,134)
Operating
surplus		 4,9 451,741 271,190
Fair value movements on investments 17 314,280 (217,232)
Income from listed investments 41,239 48,545
Interest receivable
and		 similar
income		 275 2,091
Interest payable
and similar expenses		 (86,997) (111,247)
Surplus/(deficit)
for the financial
year		 720,538 (6,653)
Other comprehensive income/(expense)
Actuarial
(losses)/gains		 In respect of defined benefit pension scheme 29 (469,000) 528,000
Other comprehensive (expense)/income for the year (469,000) 528,000
Total comprehensive income for the year 251,538 521,347

2021 2020
Note
Fixed assets
Housing
properties		 13 10,151,084 10,280,115
Other tangible assets 16 11,080,038 11,208,451
Investments 17 1,942,241 1,629,610
23,173,363 23,118,176
Current assets
Stocks 19 27,300 24,346
Debtors: amounts falling due within one year 20 236,107 279,243
Cash at bank and in hand 21 2,253,990 815,169
2,517,397 1,118,758
Creditors: amounts falling due within one
year 22 (1,190,056) (1,093,859)
Net current assets 1,327,341 24,899
Total assets less current liabilities 24,500,704 23,143,075
Creditors: amounts falling due after more
than one year 23 (6,555,668) (5,820,577)
Provisions
for liabilities
Net assets excluding pension liability 17,945,036 17,322,498
Defined benefit pension scheme liability 29 (743,364) (372,364)
Net assets 17,201,672 16,950,134
Reserves
Endowment
fund		 28 34,329 34,329
Restricted
funds		 28 1,641,562 1,609,539
Revenue
reserve		 28 15,525,781 15,306,266
17,201,672 16,950,134

2021 2020
Note E
Fixed assets
Housing
properties		 13 9,971,725 10,101,114
Other tangible assets 16 11,080,038 11,208,451
Investments 17 1,942,241 1,629,610
22,994,004 22,939,175
Current assets
Stocks 19 27,300 24,342
Debtors: amounts falling due within one year 20 236,222 278,710
Cash at bank and in hand 21 2,250,410 811,517
2,513,932 1,114,569
Creditors: amounts falling due within one
year 22 (2,030,593) (1,920,286)
Net current assets/(liabilities) 483,339 (805,717)
Total assets less current liabilities 23,477,343 22,133,458
Creditors: amounts falling due after more
than one year 23 (6,440,602) (5,704,293)
Net assets excluding pension liability 17,036,741 16,429,165
Defined benefit pension scheme liability 29 (743,364) (372,364)
Net assets 16,293,377 16,056,801
Reserves
Restricted
funds		 28 768,823 750,544
Revenue
reserve		 28 15,524,554 15,306,257
16,293,377 16,056,801

Endowment Restricted Revenue
Fund Funds Reserve Total
At 1 April 2019 34,329 1,562,456 14,832,002 16,428,787
Comprehensive income for the year
Deficit for the year (6,653) (6,653)
Actuarial
gain
in		 respect of defined benefit pension
scheme 528,000 528,000
Total comprehensive income for the year 521,347 521,347
Transfers
(Note		 28) 47,083 (47,083)
At 1 April 2020 34,329 1,609,539 15,306,266 16,950,134
Comprehensive income for the year
Surplus for the year 720,538 720,538
Actuarial
loss in		 respect of defined benefit pension
scheme (469,000) (469,000)
Total comprehensive income for the year 251,538 251,538
Transfers
(Note		 28) 32,023 (32,023)
At 31 March 2021 34,329 1,641,562 15,525,781 17,201,672

Restricted Revenue
Funds Reserve Total
F
At 1 April 2019 727,955 14,832,002 15,559,957
Comprehensive income for the year
Deficit for the year (31,156) (31,156)
Actuarial
gain in		 respect of defined benefit pension scheme 528,000 528,000
Total comprehensive income for the year 496,844 496,844
Transfers
(Note		 28) 22,589 (22,589)
At 1 April 2020 750,544 15,306,257 16,056,801
Comprehensive income for the year
Surplus
for the year		 705,576 705,576
Actuarial
loss in		 respect of defined benefit pension scheme (469,000) (469,000)
Total comprehensive income for the year 236,576 236„576
Transfers
(Note		 28) 18,279 (18,279)
At 31 March 2021 768,823 15,524,554 16,293,377

2021 2020
Cash flows from operating activities
Surplus for the financial year 720,538 (6,653)
Adjustments
for:
Profit on disposal oftangible assets (126)
Amortisation
ofdeferred
capital grant		 (35,886) (35,884)
Depreciation
oftangible
fixed		 assets 279,849 376,344
Interest payable 86,997 111,247
interest receivable (41,514) (50,510)
(Increase)/decrease
in stocks		 (2,954) 2,524
Decrease
in debtors		 43,136 198,030
Increase
in creditors		 86,060 68,759
Fair value movements
on investments		 (314,280) 217,232
Pension contributions
paid		 (145,000) (172,000)
Pension scheme costs 39,000 52,000
Net cash generated
from operating		 activities 715,946 760,963
Cash flows from investing
activities
Sale of tangible fixed assets 79,269
Purchase oftangible
fixed assets		 (22,405) (262,712)
Purchase oflisted investments (302,064) (630,790)
Sale of listed investments 217,147 629,919
Interest received 275 1,965
Income from listed investments 41,239 48,545
Net cash from investing
activities		 (65,808) (133,804)
Cash flows from financing
activities
Net movement
on borrowings		 781,114 (138,168)
Loan interest paid (78,997) (90,247)
Net cash used
in financing
activities		 702,117 (228,415)
Net increase
In cash and cash equivalents		 1,352,255 398,744
Cash and cash equivalents
at		 beginning ofyear 1,055,191 656,447
Cash and cash equivalents at the end ofyear 2,407,446 1,055,191

Consolidated Statement of Cash Flows (continued)
For the Year Ended 31 March 2021
2021 2020
E
Cash and cash equivalents at the end ofyear comprise:
Cash at bank and in hand 2,253,990 815,169
Cash on deposit awaiting investment 153,456 240,022
2,407,446 1,055,191

At 1 April At 31 March
2020 Cash flows New loans
f		 2021
Cash at bank and in hand 815,169 508,821 930,000 2,253,990
Debt due after 1 year (2,994,966) 97,023 (868,000) (3,765,943)
Debt due within 1 year (136,846) 51,863 (62,000) (146,983)
(2,316,643) 657,707 (1,658,936)

Particulars
oftur		 nover,
operati		 ng
expenditure		 and operating surplus/(def icit)
Operating Operating
Operating surplus
/		 Operating surplus
/
Turnover expenditure (deficit) Turnover expenditure (deficit)
2021 2021 2021 2020 2020 2020
E E E E E
Social housing
lettings (see
note 5)		 1,281,736 (971,978) 309,758 1,146,690 (1,214,655) (67,965)
Non-social
housing
activities:
Nursing
homes		 5,864,562 (5,768,723) 95,839 6,557,540 (6,266,766) 290,774
Donations
and
legacies 68,859 (6,111) 62,748 62,669 (17,631) 45,038
Other activities 14,326 (30,930) (16,604) 47,425 (44,082) 3,343
Subtotal
excluding
government
grants		 7,229,483 (6,777,742) 451,741 7,814,324 (7,543,134) 271,190
Government
grants 433,365 (433,365)
Total including
government
grants		 7,662,848 (7,211,107) 451,741 7,814,324 (7,543,134) 271,190

5. Particulars
of income and expenditure		 from social housing lettings
2021f 2020
Group
Rent receivable
nel of identifiable		 service charges 678,470 611,510
Service charge income 567,380 499,294
Net Rental Income and Turnover from Social Housing Lettings 1,245,850 1,110,804
Amortisation
ofGovernment
grants		 35,886 35,886
Net Income and Turnover from Social Housing Lettings 1,281,736 1,146,690
Management (403,990) (379,605)
Services (278,028) (285,042)
Routine Maintenance (153„935) (240,087)
Depreciation
of housing
properties		 (136,025) (309,921)
Operating
expenditure
on social		 housing lettings (971,978) (1,214,655)
Operating
surplus/(deficit)
on social housing		 lettings 309,758 (67,965)
The void costs for 2021 were 2289,142(2020 - 2135,031).
6. Income from listed investments
2021 2020
Income from listed investments 41,239 48,545
7. Interest receivable
and similar income
2021 2020
F F
Deposit account interest receivable 275 1,965
Gain on fixed asset disposal 126
275 2,091

Interest payable and similar expenses
2021 2020f
Bank charges and interest charges 3,357
Loan Interest payable 75,687 83,580
Financing costs 3,310 3,310
Net interest expense in respect of defined benefit pension scheme (Note
29) 8,000 21,000
86,997 111,247

The operating
surplus
is st		 ated after charging/(crediting)
the fol		 lowing:
2021 2020
E K
Depreciation
of properties		 255,034 346,027
Components
written
down		 50,688
Depreciation
of other tangible assets		 24,815 30,317
Arnortisatlon
of government		 grants (35,886) (35,886)
Auditor's
remuneration
- audit		 18„900 26,822
Auditor's
remuneration
- non-audit		 3,600
Operating
lease charges -		 other 23,087 27,478
Operating
lease charges -		 land and buildings 75,775 73,382

Group Group
2021
F		 2020f
Wages and salaries 4,436,168 4,414,999
Social security costs 342,977 351,756
Defined contribution pension scheme costs 139,266 136,991
Defined benefit pension scheme - current service cost 34,000 46,000
4,952,411 4,949,746
2021 2020
No. No.
Support ONce 15 13
Nursing Homes 216 220
Repairs and Maintenance 4 7
235 240
2021 2020
No. No.
Support Office 13 11
Nursing homes 181 181
Repairs and Maintenance 4 4
198 196

2021 2020
E
Key management
remuneration
Aggregate ofemoluments 164,950 161,527
Aggregate of pension contributions 11,210 10,063
176,160 171,590
2021 2020
F
Highest
paid Trustee		 - Chief Executive
Aggregate ofemoluments 73,426 72,014
Aggregate of pension contributions 8,522 7,415
81,948 79,429

Freehold Leasehold
Propertiesf Properties Totalf
Cost
At 1 April 2020 11,924,242 1,225,480 13,149,722
Additions 6,994 6,994
At 31 March 2021 11,931,236 1,225,480 13,156,716
Depreciation
At 1 April 2020 2,082,849 786,758 2,869,607
Charge for the year on owned assets 110,627 25,398 136,025
At 31 March 2021 2,193,476 812,156 3,005,632
Net book value
At 31 March 2021 9,737,760 413,324 10,151,084
At 31 March 2020 9,841,393 438,722 10,280,115

Freehold Leasehold
Properties Properties Total
E E
Cost
At 1 April 2020 11,731,939 1,225,480 12,957,419
Additions 6,994 6,994
At 31 March 2021 11,738,933 1,225,480 12,964,413
Depreciation
At 1 April 2020 2,067,800 788,505 2,856,305
Charge for the year 110,985 25,398 136,383
At 31 March 2021 2,178,785 813,903 2,992,688
Net book value
At 31 March 2021 9,560,148 411,577 9,971,725
At 31 March 2020 9,664,139 436,975 10,101,114

Included in Freehold Properties Properties Properties above is freehold freehold land of E2,230,966 (2020 - P2,230,966) land of E2,230,966 (2020 - P2,230,966) land of E2,230,966 (2020 - P2,230,966) land of E2,230,966 (2020 - P2,230,966) which is not
depreciated.
The total capitallsed Interest in cost of freehold properties
is F46,720 (2020 - 846,720). Included		 within
freehold properties are costs incurred of f32,219 (2020 - 632,219) relating to shared ownership
properties.
Number of units
Group Group Company Company
2021 2020 2021 2020
E
Number of units owned and managed
Nursing and residential home bed spaces 130 130 130 130
Housing accommodation 150 150 144 144
Shared ownership 2 2 2 2
Managed on behalf ofothers 10 10 16 16
292 292 292 292

Group Group Company Company
2021f 2020f 2021f 2020
Improvement work capilallsed 6,994 17,000 6,994 17,000
Amounts
charged		 to Statement of
Comprehensive Income 153,935 240,087 153,935 240,087
160,929 257,087 160,929 257,087
15b. Social Housing Assistance
Group Group Company Company
2021f 2020
f		 2021
f		 2020f
Capital grants received for social housing
assistance 3,432,749 3,432,749 3,294,548 3,294,548

Nursing
and
Leasehold Sheltered
Nursing improvements Housing
home and office Motor fixtures and
properties equipment vehicies equipment Total
F E
Cost
At 1 April 2020 12,830,738 743,435 102,774 145,204 13,822,151
Additions 13„971 1,440 15,411
At 31 March 2021 12,844,709 744,875 102,774 145,204 13,837,562
Depreciation
At 1 April 2020 1,716,660 704,746 99,331 92,963 2,613,700
Charge for the year on owned
assets		 119,009 13,040 1,137 10,638 143,824
At 31 March 2021 1,835,669 717,786 100,468 103,601 2,757,524
Net book value
At 31 March 2021 11,009,040 27,089 2,306 41,603 11„080,038
At 31 March 2020 11,114,078 38,689 3,443 52,241 11,208,451

Nursing
and
Leasehold Sheltered
Nursing Improvements Housing
home and oNce Motor fixtures and
properties
f.		 equipment vehicles equipment
E		 Total
Cost
At 1 April 2020 12,830,738 393,326 102,774 106,391 13,433,229
Additions 13,971 1,440 15,411
At 31 March 2021 12,844,709 394,766 102,774 106,391 13,448,640
Depreciation
At 1 April 2020 1,?16,660 354,637 99,331 54,150 2,224,778
Charge for the year on owned
assets 119,009 13,040 1,137 10,638 143,824
At 31 March 2021 1,835,669 367,677 100,468 64,788 2,368,602
Net book value
At 31 March 2021 11,009,040 27,089 2,306 41,603 11,080,038
At 31 IVIarch 2020 11,114,078 38,689 3,443 52,241 11,208,451

Investments
2021 2020
Listed investments - valuation
At 1 April 1,389,588 1,605,949
Additions 302,064 630,790
Disposals (217,147) (629,919)
Movement
in fair value		 314,280 (217,232)
At 31 March 1,788,785 1,389,588
2021 2020
E
Listed investment comprise:
Fixed interest securities 344,070 280,618
Equities and Alternative Investments 1,444,715 1,108,970
Total 1,788,785 1,389,588
2021 2020
f.
Other investments
Cash on deposit awaiting investment 153,456 240,022
Total Investments 1,942,241 1,629,610

Investments
in audit exempt subsidiaries
comprise:
BCOP Services Limited - Company
No. 06956792
Emma Ball and Rolason Almshouses
- Charity No. 246857
The Pargeter
and Wand Trust - Charity No. 210725

19. Stocks
Group Group Charity Charity
2021 2020 2021 2020
F. F. F
Small tools 27,300 24,346 27,300 24,342
20. Debtors
Group
2021		 Group
2020		 Charity
2021		 Charity
2020
F.
Rent and service charge debtors 290,330 277,880 289,693 277,736
Less: bad debt provision (131,437) (119,955) (131,437) (119,955)
158,893 15?,925 158,256 157,781
Prepayments and accrued income 77,214 121,318 77,966 120,929
236,107 279,243 236,222 278,710
21. Cash at bank and in hand
Group Group Charity Charity
2021 2020 2021 2020
F F.
Cash at bank and in hand 2,253,990 815,169 2,250,410 811,517

Group Group Charity Charity
2021 2020 2021 2020
Amounts falling due within one year
Bank loans 146,983 136,846 146,983 136,846
Amounts falling due 1-2 years
Bank loans 341,548 142,913 341,548 142,913
Amounts falling due 2-5 years
Bank loans 3,300,395 451,414 3,300,395 451,414
Amounts falling due after more than 5
years
Bank loans 124,000 2,400,639 124,000 2,400,639
3,912,926 3,131,812 3,912,926 3,131,812

Deferred Capital Grant
Group Group Company Company
2021 2020 2021 2020
F. E F F.
As at 1 April 2,863,953 2,899,837 2,746,450 2,781,118
Released in year (35,886) (35,884) (34,668) (34,668)
2,828,067 2,863,953 2,711,782 2,746,450
Group Group Company Company
2021 2020 2021 2020
F F
For release In less than one year 38,342 38,342 37,124 37,124
For release in more than one year 2,789,725 2,825,611 2,674,659 2,709,327
2,828,067 2,863,953 2,711,783 2,746,451

Financial instruments
Group Group Charity Charity
2021 2020 2021 2020
f. f f
Financial assets
Debt instruments
measured		 at amortised cost 263,407 301,831 263,522 301,442
Instruments measured at fair value through
income and expense 1,788,785 1,389,588 1,788,785 1,389,588
2,052,192 1,691,419 2,052,307 1,691,030
Financial liabilities
Measured at amortised cost (4,917,657) (4,050,483) (5,759,412) (4,878,128)

Restricted Reserves
Transfers to
Opening I (from) Closing
balance reserves balance
f
Group 2021
Endowment fund 34,329 34,329
Other Restricted 1,609,539 32,023 1,641,562
Total 1,643,868 32,023 1,675,891
Transfers to
Opening I (from) Closing
balance
F		 reserves
f		 balance
Group 2020
Endowment fund 34„329 34,329
Other Restricted 1,562,456 47,083 1,609,539
Total 1,596,785 47,083 1,643,868
Transfers to
Opening I (from) Closing
balance reserves balance
f.
Company 2021
Other Restricted 750,544 18,279 768,823
Total 750,544 18,279 768,823
Transfers to
Opening I (from) Closing
balance reserves balance
Company 2020
Other Restricted 727,955 22,589 750,544
Total 727,955 22,589 750,544

Other rest ricted
reserves - 2020 are anal		 ysed as follows:
Opening Closing
balance
E		 Income
f		 Expenditure balance
E
Robert Harvey Sensory Street 1,100 1,100
Anita Stone Court 7„708 7,708
Rhodes Trust 692,641 20,454 (1,465) 711,630
Belsize 24,439 4,000 (400) 28,039
Mrs Jollys 2,067 2,067
Company 727,955 24,454 (1,865) 750,544
Pargeter &Wand 296,850 9,080 (4,407) 301,523
Emma Ball 537,651 27,915 (8,094) 557,472
Group 1,562,456 61,449 (14,366) 1,609,539

2021 2020
EOOO f000
Reconciliation ofpresent value of plan liabilities
At the beginning ofthe year 3,893 4,435
Current service cost 34 46
Administrative expenses 5 6
Interest cost 93 99
Member contributions 12 16
Benefits paid (153) (162)
Actuarial gains due to scheme experience (187) (71)
Actuarial losses/(gains) due to changes in demographic assumptions 18 (43)
Actuarial losses/(gains) due to changes in financial assumptions 778 (433)
At the end ofthe year 4,493 3,893
2021 2020
f000 f000
At the beginning ofthe year 3,521 3,436
Interest income 85 78
Experience
on
- gain/(loss)		 plan assets (excluding amounts included in interest income) 140 (19)
Employer
contributions		 145 172
Member contributions 12 16
Benefits paid (153) (162)
At the end ofthe year 3,750 3,521

2021 2020
OOOO OOOO
Global Equity 598 515
Absolute
Return		 207 183
Distressed
Opportunities		 108 68
Credit Relative Value 118 97
Alternative
Risk Premia		 141 246
Fund of Hedge Funds 2
Emerging
Markets Debt		 151 107
Risk Sharing 137 119
Insurance-Linked
Securities		 90 108
Property 78 78
Infrastructure 250 262
Private Debt 89 71
Opportunistic
lliquid Credit		 95 85
High Yield 112
Opportunistic
Credit		 103
Corporate
Bond Fund		 222 201
Liquid Credit 45
Long Lease Property 74 61
Secured Income 156 134
Liability Driven
Investment		 953 1,168
Net Current Assets 23 15
Total plan assets 3,750 3,521
2021 2020
OOOO f000
Defined benefit pension scheme liability
Fair value of plan assets 3,750 3,521
Present value of plan liabilities (4,493) (3,893)
Net pension scheme liability (743) (372)

The amounts
recognised
in the
follows:		 Consolidated
Statement
of C		 omprehensive
Income
(SoCI		 ) were as
2021 2020
f000 OOOO
Current service cost 34 46
Net interest expense 8 21
Administrative
expenses		 5 6
Defined benefit costs recognised in SOCI 47 73
2021
F		 2020f
Experience on plan assets (excluding
amounts		 included in interest income)
- gain/(loss) 140 (19)
Actuarial
gains		 due to scheme experience 187 71
Actuarial
(losses)/gains		 due to changes
in demographic		 assumptions (18) 43
Actuarial
(losses)/gains		 due to changes
in financial		 assumptions (778) 433
Total amount recognised in OCI - (loss)/gain (469) 528

Principal
actuarial
assumptions
at the Statement
of Finan
averages):		 cial
Position
date
(expressed		 as weighted
2021 2020
0!
Discount rate 2.12 2.41
Future salary Increases 3.84 2.68
Inflation
(RPI)		 3.31 2.68
Inflation (CPI) 2.84 1.68
Mortality rates
-for a male aged 65 now 21.6years 21.5 years
-at 65fora male aged 45 now 22.9 years 22.9years
-for a female aged 65 now 23.5years 23.3years
- at 65for a female member aged 45 now 25.1years 24.5years

Group
2021		 Group
2020		 Charity
2021f		 Charity
2020
Not later than 1 year 83,069 86,638 83,069 86,638
Later than 1 year and not later than 5years 45,963 87,204 45,963 87,204
129,032 173,842 129,032 173,842