Cure Trust Annual Report and Financial Statements for tne Year End6d 31 March 2022 Company Number. 04071304 Charity Registered in England and Wales Number. 1084054 Together We Care Amlca Care Trust Contents For the Year Ended 31 March 2022 Page Reference and Administrative Detsils Trustees, Report {including Directors. Report and Strategic Report) 2-11 Statement of Trustees, Responsibilities 12 Independent Auditors, Report Slalement ol Finandal Activities 17-18 Balance Shee15 19 Cash flow Statement Notes to the Finanoal Statem8nts 21-30 Atilica Care Trust Reforenc8 and Adminislralive Detslls For the Y@ar Ended 31 hAarch 2022 Trustees.. Mr J Baker Mr G Briscoe Mrs V Grow Mr W Dalton Ms J Lacey Mr A Ladd Mr A Rawicz-szczerbo Ms A Wamian Mr J Whrttaker Charlty NUM￿r. 1084054 Company Number: 04071304 Prin¢ipal Addres8 and Reglstered Office: Galch811 House Galchell Oaks Trull Taunton Somefsel TA3 7EG Audltors: bert Goodman LLP Chartered Accountants Goodwood H¢)use Blackbrook Park Avenue Taunlon Somerset TA12PX Bankers: Santander UK plc C￿ale & Commercial Bridle Road Bootle Merseyslde L30 4GB Uoyds TSB Bank PIC 31 Fore Street Taunton Somerset TA11HN Solicitors: Royds Withy King 6 Northumbedand Buildings Queen Square Bath BA12JE Stone King 13 Queen Square Bath BA12HJ Page 1 Amlca Car8 Trust Trustees, Report lincluding Direclors. Report and Strategic Report) For the Year Ended 31 March 2022 Chalrnian's Introductlon For the second year In a row the Tnjst's operations have been severely affected by the coronavirus pandem1¢ whlch led ta the temFKKary closure lo visitors and new residents of all our homes for periods. Bul as I write. thankfully all our homes are open and operating effectively on the roule back lo nomiality. Understandably, our fina￿la1 performan￿ has been affected adversely by the pressures arising from Ihg pandemic. Although our overall income increased slightly from the previous year, our surplus IEBITDAI was greatly reduced. Bul our cash reserves have been bolstered by the sale of one of our 511es as described below. During the (r)ur¥e of the year, w￿ have disposgj of one of our two Bromsgrove sites - our Housman Court hom8 and the adjoining Housman Park independent living untts - in accordance with our strategy lo refresh and improve our estate. ￿80, we are currently in advanced di5cussTrons to develop a new home in Taunton to bring our portfolio back lo five homes. And we are in4estigatillg other Opport￿nitIe￿ £15ewhere lo acquire additional home) wheie we think we can achieve a satisfactory oporational performance. We experienced a disap￿inting CQC inspoctior¢ at our remaining sile in Bromsgrove, Sl John's Court, which h8$ bee designated as 'requires improvement,; after a number of years having been rated as 'oulstanding'. As an urgent priority, therefore, we have intr(Mduced special measures lo bring the home back lo a satisfactory level of operatio and I look forward to reporting further on this in next yearfs report. Our olher homes have performed well. and we are proud that Exmouth House retains ils CQC 'oulstanding' rating. We are seeking to digest the changes In the funding of social care that are being initiated by the govemment. As a member of the National Care Forum, we are grdteful for the lead they are taking in this key maller on behalf of operators such as ourselves. At present it 1$ too early to say precise￿ how the changes will affect U5, but it seems very likely that they will have a fundamental effect on our operation5 going forward. Our board of Iruslees has been strengthened by the arrival of Ihree new fa￿. Will Dalton joined us in Jun8 2021. Will is a Chartered Accountant who previously worked for a private business wh￿h operates care homes in the UK and brings a wealth of relevant experience in that regard. Jacqudine Lacey joined us in August 2021 and has a strong personal interest in provtding worthwhile enlertaintnent arKI other activities for residents. And Anna Warman joined the board in February 2022, Anna works for the NHS as Head of Facilities Management of Somerset Health Authority. Sadly, Simon co￿1ck stood down as a Trustee éuring the year, and we remain very grateful for his contribution, especialty in respect of property matt8rs. Jurai Darongkamas resMJned as a Trnstee in March 2022. and the Trustees thanked her for her contrtbub'on to the board and especially for her professional support made available to staff lo support their mental wellbeing. We also said goodbye at the end of December lo Janet Hellens who has done a sleding job as personal assistant to our Chief Executive and secretary lo th8 Board for many years. We wish Janet a very happy retirement. 0g$pile the restrictions arising from the pandemic, we were able to hold our usual summer garden ar￿ Christmas de¢oralionsl¢ake competitions. These events bn'ng outthe best in our colleagues residents and allow the Trustees to gel involved in a truly meaningful way with the actwities al our siles. We also held our first staff awards ceremDny, and it was a delight to be present at the event on a wndy day in August al Galchell House. Page 2 Arillca Care Trust Trustees, Report (including Directors, Rep(￿t and Strdtegl¢ Report} For the Year Ended 31 March 2022 The Trustees of Amica Care Trust Ilhe charlty's dlrectors for the purpos8s of company law and collectively referred to as the Trustees in this report) present their reporL which indudes the requirements of a Directors, Report and a Slraleglc Rep)rl, and accounts for the year ended 31 March 2022. The accounts have been prepared in ￿e0rdance with the accourrting policies set out in note 1 to the accounts and comply with th8 Charities Act 2011, Compan￿5 Act 2006 and Accounting and Reporting by Charities: Statement of Recommended PractiGe applicable in the UK and IrelarKI IFRS102) {effective 1 January 2019). OblKt$ of tho charity The objects of th8 ¢harity. as set out in the Memorandum ofAsswatN)n are: 'lo promote the relief of pooplo lik'ing ir, tho UK who are disad¥'anta9ed ￿4.￿[￿u- of old age cr by physical or mental disability and in particular lo provide and manage homes for them to live in and to prDrnole and support schemes whereby such people may recelve SUPF)Ort and facilities." Purpose and actlvltlgs Amica Care Trust is a provlder of resldenUal care for up to 164 older people I￿Ing with éementla or who have nursing and social oare needs, at four 51tes across England. Our charitable and not for FKofit stalus, allows th8 Trust to provide care to residents with a range of needs irrespectlve of their funding slalus. And our focus on providing outstandlng Ca￿ is suppcffted by th8 care hours per residtsnt, per week, provided by our staff. wh￿h is above lh8 WKler sector norm. Our funding sources are from the fees that we ¢harge for the care of each resident. Resldents, fees may be self- funded, local authority funded or a combination of the two. We gen8rally receive no other forms of grants or funding, although we have been in re￿Ipl of ￿th the GovernmenV8 in￿li0n contrc4 grant ftJrKling and workforce re¢ruitment 8nd retention grant funding, in the 2021-22 financial year. We also oporate three independent living sf(es, wtth a combined total of 125 properties for people over the age of 55. The Trust owns tre freehold of these sites, arKI each site is run by its own management company, Up until 28 February 2022, we also opgraled Hi)usman Care 2 30 bed care home and Housman Park an independent Ilving site consisting of 57 flats. More detail on the sale of this site can be found on page g of this report. We offer some 5UPPOrt services into all our independent living sites suth as domestic services including a care al home service al Signature Apartments. Carg Home . Exrnouth House Housman Court until 28102122 The Orchards nature House Sl Johns Court NIA Inde ndert Livin Exmoulh Court Housfnan Park until 28102122 ertles Exrnoulh Bromsgrove 31 38 57 Crewkerne Dorchester Broms rove Taunton 45 NIA nature A rtmenls NIA Galchell Oaks 42 45 Publlc beneflt statament The Trustees have considered the Charity Commission's public benefit guidance in the activities of the Trust. As a charity. we $trive lo maintain our fees at an affordable level arKf to be fair and transparent in the way that we calcula18 individual fee fftle$. Our staffing levels and average contact lime with Ihose who we look after refi8GI our charitable status and are generally higher than those found in similar homes operated in the Commercial sector. Page 3 Amica Caro Trust Tru51ees' Report lincluding Directors, Report and Strategic Report) For the Year Ended 31 March 2022 Mlssion and Valugs We are very passionate about caring for our residents and stsff, and our mission and values are ¢entral to what we do and how we care for each other. Our Mission Together we strive to provide exceptional ¢are and supwrt to residents and their families. maintaining independerKe, ¢realing special moments and fulfillirg live5. Our Values Treating everyone as an Individual Valuing peop Carlng and Ma￿ng a differ8r￿e together Creating Communities Respecling ea¢h other. treating everyone with dignty. ￿ndnesS and compassion People are al the heart of ev￿Ing we do Home sweet home. together we make things better Being proud of who you are strategic Report COVID-19 As per the previous year corona virus continued to dominate how we were able lo provide se￿ICe$ to our residents. Our staff teams have worked above and beyond to ensure that care was riot compromised, despite the continued government reslriclions, a¢￿8$ to support services and their own health and wellbeing. Most of our residents recetved the COVID vaccination which reduced the werity of the infect￿n and therefore redijceé the number of deaths. We also lost a few staff members due to the compulsory COVID vaccination requirement. Staff absence due to the virus was affected bul with the support of staff working additional hours and agency. the homes continued to be well staffed. Residents, connection with their loved ones has remained a priority and we have continued lo supwrt visits within the Government Guideline5', newsletters, video cals and emails have also maintained that vital connection. Our financial performance has continued lo be affected by the pandemic through lower occupancy rates and high staffing costs due lo agewy usage. We also increased our overtime rates for our staff in recognition of their willingness to support the residents and their colleagues. W8 have seen a recovery in occupancy in the last two months of the financial year and are confident that this wlll continue to improve. Tha Government's InfeC￿n Control Grant and workftsr￿ Recruilmenl and Retention Grant have been a wolcome support lo reduce the financial impact orth8 pandemic. staff also apprectated the financial bonus they received from some of the Workforce and Reuuilmenl arKI Retention GranL ObJeGtlvg8 for the year. achlevomonts and pgrforniance Quali of Care.. Quality of care remains key lo our success, despite this t￿Ing a thallerkSE due to temporary home dosures resulllng from Covid, we have still been successful in making improvements. We have invested in aédilional training for staff ovw and above mandatory trainlng, induding leadershlp training for home Managers, First aid at Work and IOSHH. We have also supported staff in their own development through appointing champion roles in all homes and providing additional training to enhance their knowledge such as dementla champions, skin integrity champions and falls champions. to name a few. We also want lo develop our staff lo progress within the Trust and have invested in level 4 management training for our leaders of the futu￿. Page 4 Anllca Care Trust Trustees, Report (including Directors, Report 2nd Strategic R8PCWt} For the Year Ended 31 March 2022 We continue lo monllor the quality of care through hlent5fied KPIS, we have developed a dashty)ard which is completed by the homes and reviewed lo identfy any trends and support in making improvements If required. We have bench marked our performance over the la51 five years so that we can strNe to improve year on year, To date we have been successful in maklng these improvements. The Car8 Governar￿e (xmnmittee have met quarterly to review the quality- of-care delivery and discuss projects and innovations to suppK)rt improvements. One of these projects was to install an App onlo our existing nurse call bell systems to push calls through to the carers handheld devic8s and therefore eradicate the ringlng of the bell throughout the hom8s. This has made a signrficant improvement lo the environment for both tho residents and the staff. it has also enabled the response times lo call to be monitored more effeGtively and help reduce the risk of falls. We hav@ had one responslve inspection by CQC this year, this took place at at Sl John's Nursing Home. Ratings of all our homes be found on page g of this rerM)rt. Two of our servi￿8 have b8en working towards their Gold Standards FrameworK both homes will be assess￿ for their a¢¢redllation in 2022. Resident occupatlon is a very important part (sr our care delivery, all our l)omes have hosted special events. where Government restrictions have ailowed, including th8 annual Christmas decoration and garden competitions. Reinvestment in our homes to im rove the environment and ex Environmental improvements have been somewhat hampered by the intermillenl closures of the homes a5 a result of COVID. but we have still been atAe to complete some of the larger projects as well as rederA)ration programs. At Exmoulh House we completed work5 in the office area to provide a better environment for visitors and for the manager to hold confidenllal meetings. We have also complet8d extensive redeccvation and carpeting at Sl John's Courtwhich is dLJe lo continue into 2022123. Investment into the maintenance of all our homes has also continued, this has included extensive works lo the boilers and flues at Signature House and fire remedials al St John's Court. We have continued lo invest in speclali$t nursing equipment and repla(ing old equipment, this includes specialist beds, hoists etc. Infection Prevention Control has been a key area for investment which has included the purchasing of fogging machines, electronic temperature scan[￿rS for staff and visitors, and ele¢tronic signing in books. le￿8 for our residents.. Embed our values lo create a osilive and carin One lo one coaching has been pmvided for some of our operations team to support improvement in leadership. We will be continuing wrfch this over the next year ￿th our home managers. Job descriptions and interview questions have been reviewed lo incorporate crtjr values into thes8 documents enabling us to recruit staff who align with our Trust Values. culture: Im rove technolo Our focus for this year has been on improving the reliabilty of ￿. we have now completed works to host all our systems in the cloud and decommission our servers. We have also been 50urung a repla￿ment Time & Attendar￿e system lo improve management of staff rolas, skill mix and filling vacant shrfts. This new system will be implanleé In the new financial year. Financial stabili Reduced ocGupancy due lo inlemiitlent home ¢losures as a result of COVID has continued to impact on our financial performance, although occupancy rates improved on the previous year. Agency costs were fvrther escalated a5 a result of agencies Gharging higher Premiums to priortknse bookirvJs, although some of this cost was offset by the Government's Infecb'on Control Grant. Page 5 Amlca Care Trust Trustees, Report (including Directors. Report arKI Strategic Report) For the Year Ended 31 March 2022 Growlh and resha for the future We continue with the development of a 68 bedded home in Taunton. plans have now been submitted lo the Council. The home will provide a state-of-th&art environment to support the care and wellbeing of older people, including a istro, Spa and hairdressing salon and cinema. We hav8 also been I￿king at tsvo further new developments and g)ing ¢0￿m5 which we hop8 to progress with I the next financial year. As part of our growth stralegy. we reviewed ourcurrent homes and made the decision to rationalis8 our current portfolio through the sale of Housman Court and Housman Park. This home wa5 purchased by a kKal prNale operator who has two Dther care homes within the are2. It was important lo th8 Trust that the new op8ralor had similar values lo us and wanted to iiive5t in the home lo further improve ihe environment for the residents. FlnanGlal Rovlew The Trust has reported a satisfactory year in lernis of income ar￿ general expenditure, when taking inlo consideration the difficulties and challenges of continuing to operate in the ongoing Covid-19 pandemic. The main challenge operationally and financially this year has been, and conttnues to be. the staffing crisis experienced by the care sector as a whole and the wider e¢onomy. Funding received from govemment mitigated the financial impaGI of our own additional staff costs in meeting infection control me85ures, but we remained exposed lo higher than anticipated agency costs ￿sUItIng from stafFing sthrtages. The yearfs results also include an accounting loss on sale and trading losses from one of our homes, ar￿ an increase in cash reserves from Ihe procEeds of the sale. 2022 2021 £'ooo £'ooo 9.864 9.376 358 Income EBITDA Net income I Cash balance Total nel assets ex ndllLtre 2.329 1.4D1 13.406 14.239 Income for 2022 was £9.8M12021 £9.4MI.. ofwhich £0.3m was in the form of government ￿nding. Ir￿me from home fees was £0.6m up on the prior year. G￿)d average fee rates have been achieved in the year, and average occupancy was on budget at govo, maintaining the same level a5 achieved in the prior year. Funding received from the governmenvs infection control grant of £236k was utilised lo offset addlllonal staff costs resultlng from the pandemic. These costs induded.. the requirement lo back-fill shrfts for staff off sick and isolating., additional staffing lo limit movement within our homes ané belween sites. and supporting with safe visiting and lesling for residents, slaff and visitors. Funding of £88k was also received from the govemmenl's workforce recruilmenl and retention fund in the year, smih 93VA of this paid direcdy lo staff. and the balance invested in recruilmenl costs and the introduction of an Employee Assistance Program While the govèrnment's funding supported our own addith)nal staff costs, staff costs overall were substantially higher than budgeted for in the year ¢Jue to an unprecedented requirement for agency staff. Own staff costs included pay increases awarded at the beginning of the year. lo address the national living wage increase of 2.2Q/o, benchmark our pay rates, and maintain pay differentials on our pay framework. The Trust has also continued to invest in improving our homes and our ongoing programme of property and equipment maintenance. £0.2m was invested into capiial expendibJre, and a further £0.1m was spent on non-capilalised equipment, fumitu￿, and room redecorations. An accounting loss of £0.45m ￿sUIted from the sale of the care home and independent livlng site al Housman Court in February 2022. This home also generated £0.15m of trading losses in the year. PrO￿edS of £0.9m from the sale of Housman, took the yearfs opening nel cash position of £1.4m lo a closing cash balance of £2.3m at March 2022. The Trusvs reserves policy explains how these funds will be utslised. Page 6 Anll¢a Care Trust Trustees, Report {including Directors, Report and Straleglc Report) For the Year Ended 31 March 2022 Rgserv85 Policy The Tru5188s' have considered the reserves wlicy of the charity and utilisalion of the cash reseNts$ held by the Trust, which the Trust defines as ils free reserves. As at 31 March 2022, the charity held £2.3m in cash. The Trustees would like lo maintain sufficient levels of reserves to enable normal operating actlvllles to contlnue should a shortfall in income occur or unplanneé expenditure result from potential risks and contillgencies that are nut covered by the charity's insuran¢es. Cash reserves of £0.5m are considered a sufficient level of reserves to hold for this purpose. To arrive al this figuro, the Trustees considered what rnighl be required in a 'worst case scenario.. It wa$ agreed that a global pandemic was a good example of such a scenario. and that E81TDA losses lexduding ir￿rne from government grants) together with capital expenditure for the previous two years, would provkje a reasonable basis from which lo calculate the cover requir8d from reseNes. Any remaining reserves are held for fulfilling the Trust's ￿sInesS plan and strategy for growth and future development of Ils ¢are provision,. with appropriate levels of funds being designated as indNNJual project plans are finalised. Plans for the future Future Plans are driven by th8 Trust's Vision, the consequential objectives combined in our business strategy, and tho specrfiG elements sel out in our ￿sInesS plan. a5 summarised below. The vlsion for tho Trust is lo provide exceptional care and support for people and their families a(Th all our s8niices. Our strategy lo achiev8 this vision is: For continued financial viability of the Trust To create homely. comfortable environments supp(Kt our residents, daily lives and improve Ihelr wellbeing For all homes to retain a minimum of'good, arAoss all CQC fvndamental starmjards in 2022 and for tsvo homes to a¢hlevelmaintain 'outstanding' in th8 next tsvo years For the Trust to operate a further tsvo homes by 2024 To embrace and Improve teChn￿Ogy1Inn0VaI￿n to SUp￿rt the highest qualty of care through our IT strategy To maintain high standards of goVerna￿e These objectives are support￿1 by our business plan which includes the followlng.. Growth and development of the Trust through rabonalisalion of our existing portfolio. development of our existing seNices, acquiring new homes through acquisrtion and developing a new Mild. Continued reinvestm8nl in our existiryJ properties and w4uipment to further improve the environment and care we provide Financial and operational re(xivery from the effects of COV1￿19, induding the delivery of a strong and robust marketing strategy Implementation of our IT strategy focusing on systems to suppwt efficiency within operations, HR and finance Review of our care strategy lo meet the demands of the I￿1 communities we serve Develop stronger community links in all our homes lo support residents to be￿rne more involved and to offer our support lo the local communlty Admlnlstrative inf¢nnatton Adminlstralive infomiation is gwen at the beginning of this annual retK)rt and financial statements. Page 7 Amlca Care Trust Trustees. R8POrt {including Directors. Report and Strategic Reptrtl For the Year Ended 31 March 2022 Structure. governance and management Constitution Arllica Care Trust is a company limited by guarantee (register&J company numbsr 40713041 and is gov6rned by its Memorandum and Articles of Association éaled 24 February 2021. It is a registered charity with the Charity Commission {regislered charity number 10840541. Anyone over the age of 18 can become a member of the company subject lo Trustee approval. Trustee The Trust is run by a Board of Trustees who are also Directors of Amica Care Trust. The Board Cuffenlly cornprises of ning Trusla8s who have been appointed on the basis of their skills and experience. All Trustees give their time freely t may claim for any reasonable expenses incurred in carrying oul their duties. The average attendance at board meetings was 81% in the year. Each Trustee is liable for the Contribution of £1 in the event of winding up the Cha￿ty. The Trustees seThing during the year and since the year-end are as follows.. MrJ Bak Mr G Briscoe Mr S Corrick Msvcmw Mr W Dalton Dr J Darongkamas Ms J Lacey Mr A Ladd Mr A Rawicz-Szczert¥J Ms Awarman Mr J WTrittaker (resigned 25 January 2022) lappoinled 29 June 2021) (resigned 29 March 20221 lappoinled 24 August 2021) Ivice chairynan) {appoinled 22 February 2022) {Chaimianl ointment of Trustees The members of the Charity shall be the Trustees arKI any person who is approved by the Tnjslees and consents, in writing, to become a tnember. The Trustees when quorate, shall consist of at least three when the lolal number of Trustees is six or less, or at le8st five when the total number of Trustees is MO￿ than six, bul (unless otherwise determined by ordinary resolution) shall not be subject to any maximum. Fellow Trustees elect the Chairperson. The Trnjstees may eslablish different classes of membership and describe their respective privileges and duties and set the amount of any subscripts'ons. Al Trustees are er￿)uraged to nominate additional Tnjstees with appropriate skills. Trustee induction and Irainin New Trustees will be provided wth the Charity Commission's. The Essential Trustee, ￿hat you need lo know. and 'Six main dulles. information. and a Job Description. The Chairman will infomi them of their legal obligations undor the Charity and Company Law and infomi them of the contents of the Memorandum arKI Artides ofAssocialN)n. They will also be provided with the Trust business plan and financi￿ reports. The Trustees are encouraged lo att&nd Other courses on subjects that relate to Iheir roles and responsibilities, and they regularly do so. All Trustees rece￿$ weeW communications from the National Care Forum whlch update5 then wilh all care related regulations, news and developments. Page 8 Aiillca Cara Trust Trusl8es' Report (including Directors, Report and Strdtegic Report) For the Year Ended 31 March 2022 anisation The Board's primary role is slralegic rather than operational. the Trustee5 delegate day-to4ay control lo the Chief Executive OfFicer and the Senior Management Team. The Chief Executive has de18galed authority, within the terms of éelegation approved by the Trustees. for operational matters Induding care, finance and employment. The senior management team consists of Chief Executive OFFrEr Finance Dlrector HR Businèss Partner Operations Manager Facilities & Property Manager Mrs K Wilkinson Ms H Walford Ms K Mallard Mrs K Hunt MrMBum The Trust operates the following Gommittee5. made up of senior managem￿1 team m¢m￿rts and trusleès.. Remuneration, Audit and Risk Commlttee Care Govem8nce Committee Property Committee Trustees are aware of Iheir legal duties to ad in the best inleresl of Amica Care Trust and ab￿Je by the Trust Conffiicts of Interest Policy. Trustee board meetings are held monthly. arKJ the sub-committees meet quarterly. Face to face meetings have since resumed post COVID,. however, we still use vldeo confwenang rf required. Trustees have resurned home visits where homes are not temporarily dosed due lo infection OLrtbreaks. Th8 Trust said goodbye lo Simon Coffick in January 2022, arKI Jurai Darongkamas in March 2022, both were thanked for their service and comrnilmenl lo Amica Care Trust. We werejoined by three new Trustees, Will Dalton who brings financial expertise and eXper￿nCe of working in the care sector, Jacqueline Lacey who has care home experience, and Anna Warman who brings her experience within facilities managem@nl. We would ideally lik8 to maintain around 10 Trustees on th8 Board,. however, we would still like to have a Trustee with experience in either IT, HR, Property or Law. Qualil Thls Is our first and most fundamental priorty- We are Proud to have one home rated as 'outslanding' by CQC and two homes rated as 'good'. We have one home r￿n￿Y rated as 'requires improvemeny. which was previously rated as 'oulstandiw'. We strongly E￿lieve that this is a result of the impact of COVID and slafFing pressures and change of management. We are working very closely with the home to make Ihe required improvements and gel the home reinspecled. An audit conducled by the Local Auth¢yIty followng the inspection provided a very positive report. CQC h8ve Continu￿ lo mnitor the homes through virtual inspections and short themed inspection5, mainly focused on infection control and we have conlinued to m￿1 all their requiremants in all homes except St Johns Court. Effoctlvo Rèsponsivo Wo11 Lod Ovorall Ratln9 Oulslandin Outstandin Good Good Requires Im rovement Exmouth Hous8 The Or¢hard$ naturo Hous8 St Johns Court 10102120 13103118 17106119 16102122 Goixl Good Gtiod Outstandi Good Good Good Rl We are pleased lo rewrt that positive progress is being made towards implementing the required improvernenls al Sl John's Court. We have Made signrficant investment in Ihe aesthetics of the home which had been hampered by COVID. We have also pul in place additional management supporL training for slaff as wdl as health and we11b8ing support, and have sourced external experienced aUdIt￿S to monilor our progress. We have our own intemal qualty assurance framework to assess the quality and Compliar￿ of our homos,. we also monitor the quality of care through robust KPI monrtoriThJ and reporbng. We have been successful in reducing falls, medication effor5, infections, and pressure soffjs for exam￿￿, through careful analysis, refleclTve learning and additional training. All of our homes have been rated as 5 stars for food hygiene standards by Environmental Health. Page g Amlca Care Trust Trustees. Report liwluding Directors, Report and Strategic Report) For the Year Er￿ed 31 March 2022 Peo le and Traini Recruilmenl has been one of our biggest challenges this year not only due to the mandatory vaccination programrlle for COVID bul also the press coverage of care homes dur¢ng the pandemic. As staffing Is our highest cost, we have Invested in the appolntmenl of a Recruktment Coordinator to suprM)rt our home managers fill their vacant positions and Improve the quallty of the applicants. We have also provNJed wdcome bonuses for ￿e￿Y recruited staff in some of our locations and have obl8ined a Tier 2 SpK)nsorship Licence to employ overseas staff. We have also been focusing on our exlsling own staff health and wellbeing and have provided counselling support, small gifts of thanks and tho inlroductlon of an Employee Assistance Program. Al ofthese have been gratefully recetved. We also held our first Trust staff awards this year, nominattons were made by Staff. ￿sidents, families and visitors. Our home managers attended a conference hekl bv the Nalional Cam Forum, this was their first face lo face event since the beginning of the pandemic which was much appreciated and provided a valuable ne￿Orking opportunty. We welcomed three new members of staff into our opwations team, a Property and Facilities Manager. a clinical Operations Assistant and a Finance Manager. They have all brought both knowledge and experience to the Trust lo support service delivery and project improvements. We also appointed a Marketing and Communications Officer to improve our communications across the TrLtst and to the wder community. We continue to invest in our workforce through the provision of qualty tralning, we have been able lo malntaln trainlng throughout the pandemTC using our on-line fa￿lity. We are very aware of the effects that the pandemic has had on th8 mental health of staff, therefore we have arranged for Mental Health first aid training to tske pla(% in the wming ffinancial year arKI will be develvping a mental health strategy. eeslRecruitmenl Despite the challenglng year all ¢)ur employees and volunteers have fa￿1 due to the continued pandemic, they have worked tirelessly to er)sure all our residents have recewed the best care. During the lockdowr periods we were able lo offer them a further increase in their hourty rate lo cover additional shffts due lo absence, we also provided them with rnonlhly grfts and letters of thanks from the Trustees. Recruitment of nurses remains a Challen￿ despite a conSidera￿e U￿rft in their h(yJrfy rate. We have now applied to increase our Sp)nsorship Licence and r8cnJit from overseas. Although last year we saw a signrficanl increase in the uptake of job Y￿anCieS due lo fvrlough, il is now a challenge lo recruit. We undertook a pay review in February and look the decision to increase all staff pay by an average of 6.20/0 despite the financial loss we incu￿ed. We have a robust Indudion program for all new emrAoyees People with disabililios have equal opportunities when applyiro for any posrtion, with due regard to their aptitudes and abilltles. We have policies and procedures in place lo ensure that our disabled colleagues are faI￿Y treated and that their training and career development 8re carefully managed. For employees that become disabled during their employment, the Trust is supportive through re-training or rtrdeploymenl so that they have cA)nb'nuing opporlunilies avallable to them. Staff 8re selected to ensure suitabilty for the rde irrespectNe of colour, race, ethnicity, disability, religion, s8x or sexual orientation. Staff are recognlsed for their commitment to the Trust through long service awards, employee of the month and annual care awards. The Gender Pay Gap data has been submitted f¢x 2020121 and can be found on our website amicacare.co.uk. Our workforce for the reported year was made up of 83% female staff and I70￿ male staff. With a mean hourfy rale of £10.93 for women., and £10.32 for men", the median hourty rate was £9.35 for both female ané male staff. Pa olic for senior ern lo The Board of Directors is made up of Twstee5 who gwe their time freely-, any expenses and relaled-party transact￿nS are disdosed in note 6 to the accounts. The day lo day operation of the Trust is delegated lo the Senior Management Team who are paid employees. The pay18vels of all employees are benchmarked using data from th8 National Care Forum and salary guides provided by recruitment consultants, and approved by the Trusys Remuneration Committe8. Page 10 Arhlca Care Trust Trustees, Report {including Directors, Report and straleg￿ ReF￿t) For the Year Ended 31 Maroh 2022 Health and Safel The Truslls committed In ensuring the health. safety and wdlare of both our staff and residents. All staff are given appropriate training and our premises are maintsined in line wtth current legislation. All our managers and senlor operational staff have undertaken IOSH tralning. Our Fa¢ilttses & Property Mar)ager leads on all Health and Safety mallers for th8 Trust. isk Man emen The Board of Trustees is responsible for risk management and regulady reviews the Indlvldual risks that have been Identified. The Senior ManagAment Team rpviews the risk r8nister on a querterly basis and shares this with thp. Remuveration, Audit and Risk Committee. with any change5 or concerns being rep(Nted to Ihe rnain Board of Trustees. Malor risk related Incidents are reviewed at the time they occur, arKI steps taken to address thtsse. Monthly financial and operattonal reports are pri)du(*d the Trustees and discussed at monthly Board meetings. Rolatad Parti08 The charity has the followng wholly owned substdiaries: Managemenl Companies limited by guarantee - Ashmore Management Ltd - which no longer trades Exmouth Court (Management) Ltd Galchell Oaks Imanagemenll Ltd Housman Park (Management) Ltd- which was a whcAly ¢xvned subsidkgry until il vras sold iv February 2022 Signature House (Management) Ltd Trading Subsidiar￿ with shares held in a trust by th6 DIr￿lOrS to the order of the Charity- SRT Signature House Ltd - which no longer trades Amica Care (Comeytmwe} Ltd- which has not comm8nc8d trading statement of dlsclosur8 to the auditor Each of the Dlreclors has confirmed that Ih8re is no infomiation, of which th8y are aware, thal is relevant to the audit of which the auditor has r￿t been made aware. They have further confirmed that they have taken appropriate steps lo identrfy Such relevant informatlon and to establish that the auditors are advised of such information. Signed by order of the Board of Trustees on 26 July 2022 ittakgr Chairman Amitta Care Trust Page11 Amica Care Trust Slatgmenl of Trustees, Responslbilltles For the Year Ended 31 March 2022 The Trustees (who are also directors of Amica Care Trust for the purposes of company law) are responsible for preparing the Trustee Directors. Report, Strategic Report and the financial statements In accordance with applicablg law and Unileé Kingéom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees lo prepare financlal statemenls for each financial year which give a tru8 and fair vlew of the slate of affairs of the charitable company and of iT￿ming resour(*s and application of resources, including the income and expenditure of the chari18ble company for that period. In preparing thes8 financial slalemenls, the Trustees are required to: Select suitable accounting p)ll￿eS and then ap￿Y them consistently.. obseNe the methods ané principles in the Charities SORP- make juégements and accounting estimates that are reasonable and prudent. state whether applicable UK AcrA)unting Standards have been fotEowed, subject to any malerial departures disclosed and explained in the financial statements, and-, prepare the financial statements on the going concem basig unless il Is Inappropriate to presume that the charitable company will continue in business. The Trustees are responsible for keeping proper accounting records that disdose with reasonable accuracy al any lime the financial position of the ¢haritable company and enable them to ensure that the financial sl8temenls comply with the Companies Act 2006. They are also responSi￿e for safeguarding the assets of the charttable company and hence for taking reasonable step5 for the prevention and detection of fraud a￿1 other irregularitie5. In so far as the Trustees are aware.. there is no relevant audil information of which th8 charitable company's auditor is unaware.. and the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and lo establish that the auditor 1$ aware of thal infom)ation. Page 12 Athlca Care Trust Independent Auditors. Report to the Trustees arKi Members For the Year Ended 31 March 2022 Oplnlon We have audited the financial stalem8nts of Amica Care for the year ended 31 March 2022, which comprise the Siaternent of Flnancial Acllvities, the Balanc4 Sheel. the Statement of Cash Flows. and Notes lo the Financial Staternents, including a summary of 5igllificanl accounting poli￿e$. The flnancial repDrting framowork that has been applied in their preparation is applicable law and United KIn￿10M Generally Accepted Ac(x)untiTVJ Practice, Ir￿lUding Financial Reportlng Standard 102.. The Financial Reporbng Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accopted A(xNJunting PractTrce). In our oplnlon, the flnanclal statements: give a true and fair view of the stale of the charitable companls affairs as at 31 March 2022 and of the incoming resources and application of resources: induding its income and expenditure. for the year then 8nded-, have been properly prepared in accordance wifh United Kingdom Generalty Accepted Accounting Practi￿", and have been prepareé in accordance with the requirements of the Companies Act 2006. Ba81s for opinion We conduGl8d our audit in accordance with Intemational Standards on Audtiiw (UK) (ISAS {UK)} and applicable law. Our responsibilities under those standards are furt1￿ des(xbed in the Audilc¢s responsibilities for the audit of the financial slalements section of our report. We are Independent of the group ar￿ parent charitable ¢ompany i accordance with the ethical requirements Ihal are Trlevanl lo our audit of the financial statements in the UK, includlng the FRC'S Ethical Standard, and we have fulfil￿ our Oth￿ ethical responsibilities in accordance with these requirements. We b8lieve that the audit evidence we have oblalned i8 SLtffiaent arml appropriats lo provide a basls for our opinion. Con¢lu¥lons relatlng to golng concem In auditing the finarKial statements, we have concluded that Ihe trustee's use of the going concern basis of accountlng In the preparation of the financial slalemenls is appropriate. Based on the work we have performed, we have not identrfied any material uncertainties relating to events or condilh)ns that, individually or collectively. may ¢asl signrficanl doubt on the charivs ability to Gonlinue as a going concern for a P8riod of al least twelve months from the original financial ststements were aulhoriged for use. Our responsibilities and the responsibilf(ies of the trustees wtth respect to going ¢oncem are described in the relevant sections of the report. Other infomiation The other information comprises the information inc4uded in Ihe annual reptyt other than the financial statements and our auditor's report thereon. The truslees are responsible for the olher information. Our opinion on the financial statements does nol cover the other information and, except to the extent otheThvise explicitly slated in our report, we do not express any fomi of assurance conclusion thereon. In oonneclion with our audit of the financial statements, ijur res￿nsibIl￿ is lo r8ad other information and, in doing 50, oonsider whether the other infornialion is materially inconsistent wih the financial statements or our kno￿edge obtained in the audit or otherwise apF)ears lo be materially misstated. If we identify such material inconsistencies or apparent mal8rial misstatements, we are reqUI￿d to detemiine whelherthere is a material tni5slatemenl in the finan¢ial statemerrts or a material misstatement of the other information. If, based on the work we have performed, we concluée that there is a materlal mlsstslemenl of this other infomiation, we are required to r8POrt that fact. We have nothing lo report in this regard. Page 13 Amica Care Trust Independent Auditors, Report lo the Tmstees and Members For the Year Ended 31 March 2022 Oplnion on other matters prescribod by tho Companles A¢t 21)06 In our opinion, based on the work undertaken the course of the 8udit'. the inforrnalion given ill the Trustees, Report. which includes the Directors, Report pTrpared for the purposes of cornpany law for the financlal year for which Ihe finanual statements are prepa￿ is ¢onsistenl with the financial stal8ments,' and the Dire¢lors' Report includ&J within the Trustees, Report ha5 been prepared in a(xordance with applicable18gal requiremellts. Matters on whlch we are roquired to rèport by exceptlon In the light of Ihe knowlodge and understanding OT the Charitab￿ company ana its environmeni pbtained in tlie Gourtse of the audiL we have not identified material misstatements in the Directors, Report induded wllhin the Trustees, Report. We have nothing lo report in respect of the following matters in relation to which the Companies Act 20D6 requires us to report lo you IF, in our opiniorÈ'. adequate accounting records have not been kepl. or r8tums adequate for our audit have not been re￿iVed from branches not visited by us.. or the company finandal statements are not in agr8ement wLh th8 accounting records and retums.. or certain disclosures of trustees, r8munerab.on sP￿￿led by law are not made.. or we have not received all the infom)ation artd explanations we require for our audit. Regponglbllltles of the commlttg8 of trusteos As explained more fully in the Statement of Trustees Restx)nsibilities (sel out on page 12}, the Iruslee5 (who are also the directors of the charitable Compary for the purposes of company law> ar8 reswnsible for the prtparallon of the financial statements and for being sakn'sfi&l that they gNe a true and fair view, and for such internal control as the Iruslees delemiine ts necessary to enable the preparat￿n of financial statements that are free from material misslatem8nt, wh8thor due lo fr8ud or error. In preparing the financial statements, the trustees are r8swnsible for assessing the charitable company's abilty to continue a5 a going Concern, disclosing, as applicable, matters related to going COll(￿rn and using the going concern basis of acccHJnling unless the trustees either intend lo liquidate the chartlable company or to cease operations, or have no realistic alternativ8 but lo do so. Audltor's responsibilities for th• audit of the financlal statements Our objectives are to obtain [easonat￿e assurdnrE about whether the finanaal stalemonts as a whole are free from material misstalemenl, whether due to fraud or error, and lo issue an auditor's report that includes our opinloD. Reasonable assurance is a high level of assurance, Ixrt is not a guarantee that an audit conducted in accordance wrth ISAS IUKI will always detect a material misslatemenl when ri exists. Misslalements call arise from fraud or error and are considered material if, individualty or in the aggregate, they could reasonably be expected lo influence the economic decisions of user9 taken on the basis of these financial statements. Irregularities, including fraud, are Instan¢es of non-complignce wlh laws and regulations. We design procedures in line with OLJr responsibilities, outlined above, lo delect material misslalemen15 in respect of irregularities, indudlng fraud. The extent to which our procedures are capable of detecting Irregularit￿$. including fraud is detailed below: Page14 Anllca Care Trust Indopendenl Auditors, Report to the Trustees and Members For the Y6ar Ended 31 March 2022 The extent to whl¢h the audlt was ¢onsidered capable of detectlng Irregularities includlng fraud Our approa¢h to Identrfying and assessing the risks of material misstatement in respect of irregularities, including fraud arKI non-compliance wth laws and regulations, was as follows.. the engagement partner ensured that the engagement team coll￿tiVelY had the appropriate competence, capabilities and skills to iéentfy or recognise non-complian￿ with applicable laws and regulations.. we identiFied the laws arKI regulations applicable lo the company through discussions vthh management, and from our commerci21 knowledge and experience of the ￿re home sector., we focused on spec￿￿ laws 8nd regulations which we considered may have a direct material 8ffecl on the financial statements or the operallons of the Ix)mpany, including the Companies Acl 2(M)6, Chariles Act 2011, CQC registration, employment, protoction of vulnerable r￿Id￿nts, and health and safety legislation., we assessed the extent of complianGe with the laws and regulations identifigd above through making enquiries of management-, an Identified laws and regulations were communuted within the audit team regularly and the learn r8mained alert lo Instances of non-compliance Ihroughoul the audit. W6 assessed the susceptibility of the company's finar￿la[ statements to material misstatement, inclLJding obtaining an Ljnderslandlng of how fraud might occur, by= maklng enquiries of management as to where they considered there was susceptibility to fraud, their knowl8dge of actual, suspected and alleged fraud,. and considering the internal controls in place lo mitsgate risks of fraud and nonvcompliance with laws and ￿gUlatiOns. To address the risk offraud through management bias and override of ¢ontrols. we: performed analytical procedures to Klentify any unusual or unexpected relationships., lesled journal entries to identrfy unusual transactions-, assessed whether judgemenls and assumptions made in determining Ihe a¢¢ounting estimates were indicative of potential bia5. ané investigated the rationale behind significant or unusual transactions. In response lo the risk of irrogularities and noTrcompIia￿e with laws and regulatlons. we deslgned procedu￿$ which In¢lLJded, bul were not limited to.. agreeing finanaal slat8ment disdosures to undertying Supp￿ing documentation. reading the minutes of me8tir¢gs of those charged with g)vemance.' enquiring of management as to actual and potential litigats'on and claims.. and reviewing correspondence with the CQC, Fire safety regulators and other relevant regulators including the Health and Safety EXe￿liVe. There are inherent limitsttons in our audit pr(￿edureS described above. The more removed that laws and regulatiorbs are from financial transactions, the less likely il is that we would become awafft of non-compliance. Auditing standards also limit the audit procedur8s required lo idenlfy non-compliance with laws an¢J regulations to enquiry of the director5 and olher management and the inspection of regLJlatory and legal ¢orrespondence, rf any. Material misslalemenls that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. Pag815 Amica Care Trust Independent Auditors, Report lo the Tmstees and Members For the Year Ended 31 March 2022 Use of our rgport This report 15 made solely to the charilable CoMpan￿S members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might slate to the charitable company's members and Irusle8s those matters we are required to state lo them in an audff(orfs report and for no other purpose. To the fullest exlenl permitted by law, we do not accept or assume responsibility lo anyone other than the charitable company ar￿ the charitsble company's members as a bo(Jy and the chart12ble company's trustees as a body, for our audit work, for this report, or for the opinions we have formed. Michollo Ferrls FCA DChA {Senior StatLrtory Auditor) For and on behalf of Albert G0￿Man LLP. Slatulory Auditor Goodwood House Blackbrook Park Avenue Taunton Somerset TA1 2PX Date, Page16 Anilca Care Trust Statement of Financial Activities lincluding income and expendlture ac¢ounl) For the Year Ended 31 March 2022 2022 Unr•8- lrfet•d ¢ontlnu- Ing Unres• tricted dl#con- tlnued Res- trfcied dlscon- tlnued 2022 Total 2021 Total cted tonUnu- Ing Income: Charitable adlvitles Investment Income other income Donaoons and legaclas 8,192.946 2,654 230,&￿5 2.120 1.021.091 9,214.037 2,654 320.11Q 327.1X)6 8.647,185 6.556 299,814 422,922 89205 272,467 52.419 Total Incom• 8.428.ti?5 1.110296 52.41 9.86i.807 9.376,ATI Expendlture: CharltablG actlv1ti8S 8.881.941 1,24IOB30 272,467 52,419 10.247.657 9.416,369 Total oxp¢ndlturo 8.681,941 1,240030 272,467 52,419 10,247.657 9,416,369 Net Income I lexpendilurol (253,316) 1130,$34) {383,8501 139,8921 Loss on dlsposal of care home and flats 1449.150) 1449.150) Net movement In funds for thè yè8r {253.316) 1579,6B4} 1833.000} 139,8921 R•conclllatlon of fund8 Total funds broLuht fO￿ard 13,659,718 579.684 14239,402 14,279.294 Total fvnds carrled forward 12 13,406.402 13,406,402 14,239,402 The statement of financial actwities incryrales the income and 8xpenditure acC￿nt. The statement of financial aGtivrties indudes all gains and losses recognised in the y8ar. Page17 Amlca Care Trust statement of Financial A¢livilies (including income and experKliture a¢¢ountl Forthe Year Ended 31 Mar¢h 2022 ComparJtlvo 2021 Unres- trlcted contlnu. Ing Unre8 trlcted dIsc￿- tlnu•d 2021 Total trlcted contlnu Ing trlcted dl8con- tlnu•d Income: Charitable actIV￿oS Inveslrnent inrA)me Other irKome Donations and legades 7.800,914 846.271 8,647,185 226,481 10 73.U3 299,814 422,W22 356.211 66.701 8,033,ts61 156.211 66.701 9,376,477 Expendlture: Charflable acllvities 7.893,498 1.145.279 310.891 66.701 9,416.3e9 Total expendllure 7.893,498 1.145279 310,891 66.701 9.416,369 N•t Ine¢>m• I l•xpondltur•} 140.463 (225.e75) 45.320 (39,8921 Transfer btheen fvnds 45,320 145,320) Not m0￿M$￿t In funds for the y￿r 185.783 1225.675) {39.8921 R•conelllatlon of funds Total funds brought forward 13.473,935 805.359 14279.294 Total fvnds carrled forward 12 13.659,718 579.684 14239,402 The statement of financial activities incorporates the in￿rne and expenditure acwunt. Th8 Statement of financial actNities indudes all gains and losse5 recognised in the year. Page 18 AmiGa Care Trust- Company Registration Number: 04071304 Balance Sheet For the Year Ended 31 March 2022 2022 2021 Not Fixed assets Tangible fixed assets Investrnenlg 11,507.976 13,059,045 11.507.g81 13,059,049 Current assets Debtor5 Cash at bank and in hand 10 389,724 2.329,018 446,211 1,401,091 2,718.742 1.847,302 Liabllities Creditors falling du& within one year 11 {820,321) {666,94g} Net current asselsllliabi5ities> 1.898,421 1.180,353 Total net assots 13.406,402 14,239,402 The funds of the charfty Unrestricted funds - General fund Unrestricted funds - Revaluation reserve Restrlcted funés 12 12 12 13.182,863 223.539 13,929,009 310,393 Totsl charfty funds 13.4C6,402 14,239,402 Approved by the Board and authorised for Issue on 26 Juty 2022 lttakgr Chairman Amica Care Trust Page19 **Amica Care Trust** Statement of Cash Flows For the Year Ended 31 March 2022 |**Notes**
**Cash flows from operating activities**
Net movements in funds for the year
Adjustments to cash flows from non-cash items:
Depreciation and amortisation
8
Loss on disposal of care home and flats
8
Loss on disposal of tangible fixed assets
8
**Working capital adjustments**
(Increase)/decrease in debtors
10
Increase/(decrease) in creditors
11
Net cash flow from operations
**Cash flows from investing activities**
Proceeds from sale of tangible fixed assets
Acquisitions of tangible assets
8
**Net increase in cash and cash equivalents**
Cash and cash equivalents at the beginning of the reporting period
Cash and cash equivalents at the end of the reporting period
**Cash & Cash equivalents reconciliation:**
Cash at bank
Total cash & cash equivalents at the end of the reporting period|**2022**
**£**
(833,000)
430,395
449,150
3,299
49,844
56,487
153,372
259,703
902,000
(233,776)
668,224
**927,927**
1,401,091
2,329,018
2,329,018
2,329,018|**2021**
**£**
(39,892)
397,119
-
468| |---|---|---| |||357,695
(36,530)
35,094| |||356,259
-
(220,432)| |||(220,432)| |||**135,827**| |||1,265,264| |||1,401,091| |||1,401,091| |||1,401,091| Page 20 **Amica Care Trust** Notes to the Financial Statements For the Year Ended 31 March 2022 ## **1 Accounting Policies** The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows: ## **1.1 Basis of preparation** The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Amica Care 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 stated in the relevant accounting policy note(s). The accounts are presented in pounds sterling. The accounts are prepared for the company on a stand-alone basis. The company has two dormant subsidiaries, and consolidated accounts are not prepared as the company has taken advantage of the exemption provided by S405(2) of the Companies Act 2006 on the grounds of immateriality. The company also has subsidiary undertakings where severe long term restrictions exist which hinder the ability of the company to exercise control over the subsidiary's assets. These undertakings have also not been consolidated into the company accounts due to these long term restrictions. There are no material uncertainties about the charity’s ability to continue as a going concern. Taking into account all reasonable circumstances, the trustees believe that the charity remains a going concern and no adjustments to the accounts are necessary. ## **1.2 Income** Home fees represents income from activities in furtherance of the charity’s objects which is nursing and social care fees from the residents of the care homes. This income is recognised in the financial statements on the accruals basis to match the period of occupation of the home by the resident. Income received in advance or in arrears is shown in deferred and accrued income respectively. Income from grants and donations is recognised in the year in which they are receivable when there is evidence of entitlement, receipt is probable and the amount can be reliably measured. Investment income is recognised in the financial statements when due to the charity. Other income represents income for management and other services to the independent living properties adjacent to the homes and support office. Income is recognised as the services are delivered. Also included in other income is commission on the resale of the independent living properties which is recognised on the completion of the sale of the property. ## **1.3 Expenditure** Home costs represent the resources expended by the charity in the running of its homes, including its programme and project work that is directed at the achievement of its charitable aims and objectives. These are recognised on the accruals basis to match the period in which the expenditure was incurred. ## **1.4 Tangible fixed assets and depreciation** Tangible fixed assets other than freehold land are stated at cost or valuation less depreciation. Finance costs that are directly attributable to the construction of a tangible fixed asset are capitalised as part of the cost of that asset. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life as follows: Freehold land is not depreciated Freehold buildings 50 years straight line Fixtures, fittings and equipment 3 to 5 years straight line Page 21 **Amica Care Trust** Notes to the Financial Statements For the Year Ended 31 March 2022 Freehold land and buildings are subject to the revaluation model with assets held at fair value less subsequent depreciation and impairment losses. Gains and losses on disposal and revaluation of investments are charged or credited to the Statement of Financial Activities and accumulated in equity except to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. In the event that the revaluation exceeds the accumulated revaluation gains in equity, the excess shall be recognised in the profit and loss. Valuations are performed on an existing use basis with each home being assessed as a separate going concern and support office assessed as an office building. Revaluations are made within sufficient regularity to ensure that the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date. ## **1.5 Debtors** Trade debtors are amounts due from residents for services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Group will not be able to collect all amounts due according to the original terms of the receivables. Accrued income comprises income receivable from residents of the care homes in relation to care home fees and is recognised when the recognition conditions for home fees income are met. Amounts owed by group undertakings are valued at amortised cost using the effective interest method. ## **1.6 Cash at bank and in hand** Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. ## **1.7 Creditors** Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Group does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. ## **1.8 Leases** Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee. Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation. Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability. Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to the profit and loss on a straight line basis over the period of the lease. Page 22 **Amica Care Trust** Notes to the Financial Statements For the Year Ended 31 March 2022 ## **1.9 Pensions** A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Group has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment. ## **1.10 Key judgements and assumptions** In the application of the charity’s accounting policies, Trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects the current and future periods. The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described in the accounting policies and are summarised below: Valuation of freehold land and buildings – these are stated at their estimated fair value on an existing use basis. Professional valuations are undertaken with sufficient regularity to ensure that the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date and are disclosed in note 8. ## **1.11 Financial Instruments** The charity only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the charity and their measurement basis are as follows: Financial assets – trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank – is classified as a basic financial instrument and is measured at face value. Financial liabilities – trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition. Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there is an obligation to deliver services rather than cash or another financial instrument. ## **1.12 Fund accounting** Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Restricted funds are grants/donations which the donor has specified are to be solely used for particular areas of the charities work. Page 23 **Amica Care Trust** Notes to the Financial Statements For the Year Ended 31 March 2022 ## **2 Income** |**Donations and legacies**
Exceptional grant
funding: Covid-19
Grant income
Donations
**Charitable activities**
Home fees
**Investment income**
Bank interest
**Other income**
Flat income
Sales commission
Other income|**Unres-**
**tricted**
**funds**
**£**
2,104
-
16
2,120
9,214,037
2,654
221,637
50,667
47,806
320,110
9,538,921|**Res-**
**tricted**
**funds**
**£**
324,886
-
-
324,886
-
-
-
-
-
-
324,886|**2022**
**Total**
**£**
326,990
-
16
327,006
9,214,037

2,654
221,637
50,667
47,806
320,110
9,863,807
|**Unres-**
**tricted**
**funds**
**£**
-
-
10
10
8,647,185
6,556
227,970
42,961
28,883
299,814
8,953,565|**Res-**
**tricted**
**funds**
**£**
416,912
6,000
-
422,912
-
-
-
-
-
-
422,912|**2021**
**Total**
**£**
416,912
6,000
10| |---|---|---|---|---|---|---| |||||||422,922| |||||||8,647,185| |||||||6,556| |||||||227,970
42,961
28,883| |||||||299,814| |||||||9,376,477| ## **3 Net movement in funds** Net movements in funds is stated after charging |Depreciation
Auditors’ remuneration for:
Audit services
Other services
Operating lease expense
Loss on disposal of care home and flats
**Total expenditure**
Staff costs
Other direct costs|**2022**
**£**
430,395
10,800
1,080
141,751
449,150
**2022**
**£**
7,904,580
2,343,077
10,247,657|**2021**
**£**
397,586
9,650
1,930
118,633
-
**2021**
**£**
7,247,973
2,168,396| |---|---|---| |||9,416,369| ## **4 Total expenditure** Page 24 **Amica Care Trust** Notes to the Financial Statements For the Year Ended 31 March 2022 ## **5 Other direct costs – operation of care home** |Food and other
consumables
Establishment costs
Administration costs
Depreciation|**Unres-**
**tricted**
**funds**
**£**
496,330
977,679
438,673
430,395
2,343,077|**Res-**
**tricted**
**funds**
**£**
-
-
-
-
-|**2022**
**Total**
**£**
496,330
977,679
438,673
430,395
2,343,077|**Unres-**
**tricted**
**funds**
**£**
578,482
936,073
256,255
397,586
2,168,396|**Res-**
**tricted**
**funds**
**£**
-
-
-
-
-|**2021**
**Total**
**£**
578,482
936,073
256,255
397,586| |---|---|---|---|---|---|---| |||||||2,168,396| ## **6 Trustees** Five trustees (2021 – two) were reimbursed a total of £1,100 (2021 - £651) travelling expenses. ## **7 Employees** ## **Number of employees** The average monthly number of employees during the year was: |Care
Domestic
Maintenance
Administration
**Employment costs**
Wages and salaries
Social security costs
Other pension costs
Other staff costs|**2022**
230
65
10
30
335
**2022**
**£**
5,999,040
448,673
193,395
1,263,472
7,904,580|**2021**
233
63
10
29| |---|---|---| |||335| |||**2021**
**£**
5,796,127
413,214
187,651
850,981| |||7,247,973| The number of employees whose annual emoluments were £60,000 or more were: |||**2022**|**2021**| |---|---|---|---| |£70,001|- £80,000|1|1| These employees were members of the defined contribution pension scheme, into which contributions of £11,253 (2021 - £11,011) were made in relation to those employees. The key management personnel of the group comprise the Trustees, Chief Executive Officer, Finance Director, HR Business Partner, Operations Manager, and Facilities & Property Manager. The total employee benefits of the key management personnel of the Trust were £339,335 (2021 - £336,604). Page 25 **Amica Care Trust** Notes to the Financial Statements For the Year Ended 31 March 2022 ## **8 Tangible fixed assets** |**Cost**
At 1 April 2021
Additions
Disposals
Revaluation
At 31 March 2022
**Depreciation**
At 1 April 2021
Charge for the year
Eliminated on disposals
Revaluation
At 31 March 2022
**Net book value**
At 31 March 2022
At 31 March 2021|**Freehold**
**land and**
**buildings**
**£**
12,808,154
-
(1,291,978)
-
11,516,176
237,474
235,653
(41,859)
-
431,268
11,084,908
12,570,680|**Fixtures,**
**fittings and**
**equipment**
**£**
2,362,041
233,776
(401,868)
-
2,193,949
1,873,676
194,742
(297,537)
-
1,770,881
423,068
488,365|**Total**
**£**
15,170,195
233,776
(1,693,846)
-| |---|---|---|---| ||||13,710,125| ||||2,111,150
430,395
(339,396)
-| ||||2,202,149| ||||11,507,976| ||||13,059,045| The freehold land and buildings class of fixed assets was revalued in December 2019 by Christie & Co who are regulated by RICS and external to the company. The basis of this valuation was open market value based on the existing use, which in the case of the care homes is as fully-equipped operational entities with due regard to their trading potential. ## **Comparable historical cost for the land and buildings included at valuation:** |Cost
Accumulated depreciation|**2022**
**£**
11,276,725
(3,028,456)
8,248,269|**2021**
**£**
12,415,227
(3,224,066)| |---|---|---| |||9,191,161| All other tangible fixed assets are stated at historical cost. Page 26 **Amica Care Trust** Notes to the Financial Statements For the Year Ended 31 March 2022 ## **9 Investments** Amica Care Trust holds 100% of the ordinary share capital of Ashmore Management Limited and is also the sole member of three companies limited by guarantee: Exmouth Court (Management) Limited; Gatchell Oaks (Management) Limited; and Signature House (Management) Limited. The Trust was also the sole member of Housman Park (Management) Ltd until 28 February 2022, when this company was sold. The principal activity of these companies is the management of the independent living developments for which Amica Care Trust owns the freehold, or the long leasehold. These companies are not consolidated in these financial statements as there are severe long term restrictions which hinder the charity’s ability to exercise control over their assets. In addition Amica Care Trust also holds 100% of the ordinary share capital of SRT Signature House Ltd and Amica Care (Comeytrowe) Ltd. SRT Signature House Ltd was dormant in both the current and prior financial year. It therefore had no profit or loss in 2022 (2021 - £nil) and net assets as at 31 March 2022 of £1 (2021 - £1). Amica Care (Comeytrowe) Ltd was incorporated on 25 October 2021 and has been dormant since incorporation. It therefore has no profit or loss in 2022 and net current assets as at 31 March 2022 of £1 ## **10 Debtors** |**Debtors**||| |---|---|---| |Trade debtors
Prepayments and accrued income
Amounts owed by group undertakings|**2022**
**£**
186,717
153,705
49,302
389,724|**2021**
**£**
267,994
160,065
18,152| |||446,211| ## **11 Creditors: Amounts falling due within one year** |**Creditors: Amounts falling due within one year**||| |---|---|---| |Trade creditors
Other creditors
Accruals|**2022**
**£**
326,451
220,007
273,863
820,321|**2021**
**£**
223,596
228,491
214,862| |||666,949| Page 27 **Amica Care Trust** Notes to the Financial Statements For the Year Ended 31 March 2022 ## **12 Statement of funds** |**2022 Unrestricted funds**
General
Revaluation reserve|**Opening**
**balance**
**£**
13,929,009
310,393
14,239,402|**Incoming**
**resources**
**£**
9,538,921
-
9,538,921|**Resources**
**expended**
**£**
(9,922,771)
-
(9,922,771)|**Transfers**
**£**
(362,296)
(86,854)
(449,150)|**Closing**
**balance**
**£**
13,182,863
223,539| |---|---|---|---|---|---| ||||||13,406,402| The general fund represents unrestricted reserves, excluding the revaluation reserve and after allowing for any designated reserves. The revaluation reserve is the cumulative value of the increase in the carrying amount of the land and buildings above cost, as a result of the revaluations. |**2022 Restricted funds**
Government funding
Other grant funding|**Opening**
**balance**
**£**
-
-
-|**Incoming**
**resources**
**£**
324,886
-
324,886|**Resources**
**expended**
**£**
(324,886)
-
(324,886)|**Transfers**
**£**
-
-
-|**Closing**
**balance**
**£**
-
-| |---|---|---|---|---|---| ||||||-| Funding was received from the government as part of its contribution to Social Care during the Covid-19 pandemic. The funding was provided to support with the costs of: Infection Control and Prevention Measures; Rapid Testing; Vaccinations; and Workforce Recruitment and Retention. All funding received was fully expensed in the year. ## **Comparative** |**2021 Unrestricted funds**
General
Revaluation reserve
**2021 Restricted funds**
Government funding
Other grant funding|**Opening**
**balance**
**£**
13,962,566
316,728
14,279,294
**Opening**
**balance**
**£**
-
-
-|**Incoming**
**resources**
**£**
8,953,565
-
8,953,565
**Incoming**
**resources**
**£**
416,922
6,000
422,922|**Resources**
**expended**
**£**
(9,038,777)
-
(9,038,777)
**Resources**
**expended**
**£**
(377,602)
-
(377,602)|**Transfers**
**£**
51,655
(6,335)
45,320
**Transfers**
**£**
(39,320)
(6,000)
(45,320)|**Closing**
**balance**
**£**
13,929,009
310,393| |---|---|---|---|---|---| ||||||14,239,402| ||||||**Closing**
**balance**
**£**
-
-| ||||||-| Page 28 **Amica Care Trust** Notes to the Financial Statements For the Year Ended 31 March 2022 ## **13 Analysis of net assets between funds** |Unrestricted funds
Restricted funds
At 31 March 2022
**Comparative 2021**
Unrestricted funds
Restricted funds
At 31 March 2021|**Fixed**
**assets**
**£**
11,507,981
-
11,507,981
**Fixed**
**assets**
**£**
13,059,049
-
13,059,049|**Cash at**
**bank and**
**in hand**
**£**
2,329,018
-
2,329,018
**Cash at**
**bank and**
**in hand**
**£**
1,401,091
-
1,401,091|**Other net**
**current**
**liabilities**
**£**
(430,597)
-
(430,597)
**Other net**
**current**
**liabilities**
**£**
(220,738)
-
(220,738)|**Creditors**
**more than**
**one year**
**£**
-
-
-
**Creditors**
**more than**
**one year**
**£**
-
-
-|**Total**
**£**
13,406,402
-| |---|---|---|---|---|---| ||||||13,406,402| ||||||**Total**
**£**
14,239,402
-| ||||||14,239,402| ## **14 Company status** The charity is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation. The company is incorporated in England and the address of the registered office is: Gatchell House Gatchell Oaks Trull Taunton Somerset TA3 7EG ## **15 Commitments under operating leases** The total future minimum rentals payable under non-cancellable operating leases funded by unrestricted funds are as follows: |Expiry date:
Within one year
Within two and five years
More than five years|**2022**
**Total**
**£**
136,968
146,978
-
283,946|**2021**
**Total**
**£**
141,751
221,407
-| |---|---|---| |||363,158| Page 29 **Amica Care Trust** Notes to the Financial Statements For the Year Ended 31 March 2022 ## **16 Pension schemes** The charity operates a defined contribution scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £193,395 (2021 - £187,651). Contributions totalling £26,635 (2021 - £29,501) were payable to the scheme at the year end and are included in creditors. ## **17 Related parties transactions** Transactions with subsidiaries that are not consolidated: |Transactions with subsidiaries that are not consolidated:||| |---|---|---| ||**2022**|**2021**| ||**Total**|**Total**| ||**£**|**£**| |Income for management services|167,781|173,772| |Service charges paid re empty properties|9,401|9,191| |Amounts owed from subsidiary at year end|49,302|18,152| The amounts owed to and from subsidiaries are interest free and repayable on demand. Page 30