Annual Report and Financial Statements for the year ended
30 September 2022
·
Charity Number: 1084255 Company Number: 4072703
Stroud & District Homes Foundation Ltd
Index
| Page no | |
|---|---|
| Trustee's Report | 1-8 |
| Auditor's Report | 9-11 |
| Statement of Financial Activities | 12 |
| Balance Sheet | 13 |
| Statement of Cash Flows | 14 |
| Notes to the Financial Statements | 15-27 |
| Supplementary Information: | 28-30 |
| Detailed Income and Expenditure Account |
Stroud & District Homes Foundation Ltd
| Trustees’ Report | ||
|---|---|---|
| for the year ended 30 September 2022 | ||
| Administrative Information | ||
| Name: | Stroud & District Homes Foundation Limited | |
| Charity Number: | 1084255 | |
| Company Number: | 4072703 | |
| Registered Address: | Barn Lodge | |
| Lovedays Mead | ||
| Folly Lane | ||
| Stroud | ||
| Glos | ||
| GL5 1SB | ||
| Trustees | ||
| (who are also the Directors) | Ian Salter | |
| Rosemary Gadd | ||
| Carol Gilbert | ||
| Richard Stone | ||
| Andrew Mirkovic | ||
| David Drew | ||
| Charles Townley | ||
| Jennifer Trotman (appointed 1 March 2022) | ||
| Auditor: | Wenn Townsend | |
| Godditch House | ||
| 5 Gosditch Street | ||
| Cirencester | ||
| Glos | ||
| GL7 2AG | ||
| Bankers: | Lloyds Bank | |
| Rowcroft | ||
| Stroud | ||
| Gloucestershire | ||
| GL5 3BD | ||
| Financial Advisors: | Digby Associates | |
| 57 Queen Square | ||
| Bristol | ||
| BS1 4LF | ||
| Senior Staff: | Group Manager | Tracey Betterton |
| Finance & Administration Manager | Kate Creed | |
| Service Manager | James Sealing | |
| Deputy Service Manager | Sabrina Elgharbawy | |
| Deputy Service Manager | Charlotte Cole |
1
Stroud and District Homes Foundation Limited
Trustees’ Report (continued) For the year ended 30 September 2022
Structure, Governance and Management
The company is incorporated as a private limited company limited by guarantee. Its constitution is set out in its Memorandum and Articles of Association which is filed at Companies House.
The liability of members is limited. Each member has undertaken to contribute one pound in the event that the company is wound up. No director or other member has any beneficial interest in any of the assets of the company.
The Board is elected at the Annual General Meeting and all Trustees are briefed on their responsibilities as Trustees prior to their acceptance of the role. The board aims to have quarterly meetings and major decisions affecting the charity are passed on a majority vote of those present. The management accounts preparation is undertaken by an experienced in-house staff member and the accounts are presented at the board meeting.
The Trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. The Board sets the policies and appoints the Senior Management team who are responsible for the day-to-day management of the company's activities.
2022 has required us to live with some of the lasting implications of the covid pandemic. It has necessarily been a year of consolidation for Stroud Homes with no service expansion and a focus on filling service user vacancies, staff recruitment and reducing our reliance on agency staff. National and local government guidance relating to covid has changed throughout the year and payments to staff for covid-related absence ceased due to the withdrawal of local authority financial support. This is a state we will continue to monitor to minimise the impact on our ability to manage absence and retain staff as covid absence continues to occur and thereby affect service delivery.
Life has started to resemble previous years for our service users, although this has been slow and restricted by lack of confidence, motivation and opportunities that were impacted by covid. This isn't unique to our service user group but reflects much of what the general public has experienced. A loss of routines for some service users can, and has, resulted in some considerable reluctance to re-engage with their communities in quite the same way as before. This has been exacerbated by the staff vacancies we have experienced and use of agency staff who have been unfamiliar and inexperienced with service user routines and local community presence and participation. An increase in permanent staff has already helped to improve this situation, and to compliment this we will look to recruit a day care co-ordinator in the new year, focusing on 1:1 work with individuals to help motivate and establish more engaging routines.
The postponement of new placements in 2021, apart from emergencies, has now been lifted and we have seen an increase in local authority referrals and the taking up of new services predominantly at Huddlestone and Sadlers. We have had to manage new service provisions in line with recruitment difficulties and a determined reduction in our agency use, for which there has been a noticeable difference since September. We continue to appreciate the efforts and commitment of our staff members which was highlighted at the 20 years service celebrations for Julia and Lettie in May. We have tried to be as creative and supportive as possible regarding recruitment of new staff members and support existing ones with initiatives such as increasing the overtime rate, introduction of long service rewards and competitive annual pay increases. We go into the new year having undertaken work with Halycon Agency in creating a brochure, advert and flyer to promote the organisation and seek new staff. We continue to aspire to match the Real Living Wage and currently bridge the gap between that and the National Minimum Wage.
2
Stroud and District Homes Foundation Limited
Trustees’ Report (continued) For the year ended 30 September 2022
Being mindful of impending CQC inspections we recognised potential gaps in compliance so recruited a Care Quality Co-ordinator to enable us to focus on quality standards throughout the services and proactively support Tracey with the implementation of the Care Management System, which now needs to have some impetus to ensure its effectiveness for service users and the organisation.
The year has provided us with opportunities to complete some outstanding work at the properties. Sadlers sensory garden and summer houses have been enjoyed by all and work on the sensory garden planned at Cotswold Grange to improve accessibility and outdoor space is about to start. The prohibitive availability of some materials experienced across the globe has invariably delayed some projects, but we are hopeful that the sensory room at Sadlers will be completed in Spring 2023.
As a community based organisation we have come to encourage and fully appreciate collaborative working with other community groups and the benefits this provides to service users, our environments and the organisation as a whole. No better examples of this can be seen than with the art work commissioned with local artist Patsy Gamble and with the Down To Earth team made possible with funds from Stroud Mencap.
Our partnership with Stroud Mencap has strengthened by working ever more closely with them, and in particular providing additional support with some difficulties they were experiencing. A sub committee made up jointly of Stroud Mencap and Stroud Homes committee members to look solely at property issues is proposed to take us into 2023. It is widely felt that this will further strengthen the relationship that exists between us and improve the effectiveness of working together to ensure a more cohesive and integrated approach to meeting the service users' accommodation needs.
Most of previous legal issues relating to the properties from 2021 have now been resolved. After careful consideration Stroud Homes purchased a holiday lodge in the New Forest available for service users to use, and we are delighted that the adaptations agreed means that the lodge is available from early 2023. It was felt that having the lodge could offer individuals an affordable and accessible holiday experience with manageable staffing levels.
Kate continues to manage the finances diligently and creatively, particularly under the pressures of the economic climate created during and following the pandemic. Her recognition of the importance of environments on individual's wellbeing has influenced her and the maintenance team to look creatively at improvements and projects that could be undertaken throughout the services, from which everyone has benefitted and greatly enjoyed. She continues to monitor our expenditure and investments, working closely in partnership with our suppliers and wealth management firm.
During 2022 the Management Team predominantly faced the ongoing challenges of staff recruitment, retention and agency staff issues, experienced in so many sectors, and how to reduce the impact on our own service provision. They have at times needed to be included in day to day demands within the services they would otherwise not be required to do and have had to be more innovative in managing the services impacted by the pandemic and world events since then. They each deserve credit for their efforts in noticeably reducing staff turnover this year whilst continuing to lead a high level of care across the services.
We have welcomed Jenny Trotman to our committee and she has ably filled the role of parent trustee. We are grateful to her and all the other trustee members for their knowledge, guidance and support throughout the year and look forward to an exciting and rewarding year ahead.
3
Stroud and District Homes Foundation Limited
Trustees’ Report (continued) For the year ended 30 September 2022
Objectives and Activities
In accordance with the Articles of Association the objects of the company are to provide for the relief of adults with learning difficulties by providing residential, respite and day care.
In achieving these objectives the company operated two Residential Care Homes registered under the Health and Social Care Act 2008 (Regulations 2010) and four homes providing Supported Living accommodation for adults with learning disabilities. In total the company can provide care and support for 39 adults. Our mission statement is:
'To work together with people with Learning Disabilities to provide high quality care and support services to help people achieve their full potential'
By mutual agreement there is an informal 99-year lease with Stroud and District Mencap society. "with permitted use as a residential or non- residential institution of care, treatment and education of mentally handicapped people". It is under this Informal Lease Agreement that Stroud and District Homes Foundation Limited provides day-to-day care and support in residential and tenancies for up to 39 people with a learning disability. The lease requires that Stroud & District Homes Foundation Limited maintain all properties to a good standard, covering all repairs and always providing adequate insurance cover.
The Charity have provided an interest free loan to Stroud & District Mencap Society which is currently being repaid at £7,500 per month with £90,000 included within debtors falling due within one year and £366,059 included within debtors falling due in greater than one year. (The minimum payment agreed is £5000 per month).
The Public Interest – Achievements and Performance
Over the past year we have continued to support individuals to maintain and develop their independence skills and become active and valued members of their local communities as much as possible and appropriate in line with the government COVID guidelines and other relevant professional agencies.
Covid pandemic - year 2021 was still very difficult to manage in regards to service users and staff contracting Covid we still had houses and staff on lock down at times. We’ve seen an improvement in restrictions easing, testing of service users and staff becoming less and fewer cases amongst staff and service users. We still however, had to lock down Cotswold Court and Cotswold Grange but with no serious health consequences. Government funding was available to our staff until March and the trustees agreed to continue this until the year end 30th September 2022 so they were not financially disadvantaged due to covid.
All of our service users have been vaccinated in line with the national guidance.
We have also worked hard at keeping the morale within the staff teams as high as possible, as we acknowledge that they have worked very hard not only to abide by the government direction and guidance but also dealing with the impact this has had on the service users.
Staff still are required to isolate if they have tested positive. They can return to work after the 6th day of testing if they have a negative result, service users are advised to isolate in their rooms where appropriate.
Our services continue to be caring, homely and supportive environments where individual’s rights, personal choices and individuality are valued unconditionally.
4
Stroud and District Homes Foundation Limited
Trustees’ Report (continued) For the year ended 30 September 2022
Whilst reviewing aims & objectives and in the planning of future activities the trustees have given consideration to the Charities Commission published guidance on the operation of the public benefit requirement.
By the end of the financial year, Barn Lodge was up to full capacity, Stone Haven, The Gables, Cotswold Grange and Huddlestone all had one vacant room, Cotswold Court had two vacant rooms, Sadlers also had two vacant rooms, but all homes continue to meet the service users’ needs effectively. The pandemic made it very difficult to fill vacant rooms but we continue to work in partnership with GCC to fill the vacancies in all the homes in the near future.
CQC
We have had no face-to-face inspections this year.
GCC reassessments
Service users from, Cotswold Court, Cotswold Grange, Huddlestone and Barn lodge/Stonehaven have had their needs reassessed.
Quality
Gloucestershire Voices completed Quality audits in the Gables and at Cotswold Grange
We continue to meet our statutory obligations under the Health and Social Care Act 2008 (regulations 2010), to the Care Quality Commission and the Local Authority.
Personnel
The top tier of the senior management is Group Manager/Registered Manager (Supported Living Service) a Service Manager and two Deputy Managers.
Recruitment and retention have been at a low in the last year, although we had a surge in recruitment during the worst time of covid this has now reduced again. We also noticed a few staff members leave in November/December 2021. We know that this is a county wide problem in the sector.
SDHF continues to work closely with reputable agencies and use their vetted and trained staff, this year has meant increased consideration around infection control measures to reduce the risk of spread of the virus. Measures adopted included: - testing, the use of block booking as appropriate to ensure that workers committed to only working for us and no other provider where possible.
Plans for the Future
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Work towards filling our vacant rooms in Sadler’s and in Cotswold Grange, Huddlestone, Cotswold Court and the Gables.
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Ensure all homes are cost effective and not running at a loss and to ensure sustainability for the future. 3. To continue to monitor and review the potential impact to individual service users where possible. Control measures for risk management have been implemented by the organisation (based on individual support plans) to ensure that service users are not being put at unnecessary risk from harm or abuse due to reduced support provision. These will be monitored and reviewed regularly and effective lines of communication will be maintained with other professionals (such as Local Authority and Health professionals) to ensure collectively that service users’ needs are being met and that they are as safe as reasonably practicable.
-
To continue to fully support Service users and their families when there is a Covid outbreak.
5
Stroud and District Homes Foundation Limited
Trustees’ Report (continued) For the year ended 30 September 2022
Financial Review and Reserves Policy
Income
Stroud and District Homes Foundation received funding from a variety of sources during the financial year but the majority of funding was derived from contracts with the Local Authority for the care and support of the service users; together with the housing benefit received from Stroud District Council this accounted for 95% of the total income received from charitable activities (2021: 94%).
-
The income from those in supported living increased by 9.97%
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Two rooms at Huddlestone were vacant and a third in Feb, two were filled in June 2022
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One room at Cotswold Court has been vacant all year
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One room at The Gables has been vacant all year
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Two rooms at Cotswold Grange were vacant, one was filled in June 2022
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There have been two vacant rooms at Sadlers all year
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There was one vacancy at Stone Haven from March 2022
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GCC agreed an uplift of 5.16% from 16th April 2022
Grants and other funds/schemes were also received from the local authority or HMRC in respect of Covid 19 which accounted for 1.7% of the income from charitable activities and were related to expenses in respect of staff wages whilst isolating & restricting movement between homes etc. as well as workforce retention grants.
All service users contributed towards the costs of running the vehicles. This is recharged based on the number of miles travelled in the company vehicles and invoiced on a monthly basis.
Household charges were recovered from service users in supported living at £30 per week (increasing to £33.50 from January 2022) towards the cost of utilities and this was included within income from charitable activities.
Expenses
The following projects were undertaken in the year:
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Sadlers garden including sheds & summer houses etc.
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Cotswold Grange, ramp patio & low threshold back door
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Gables laundry
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Gables patio & wall
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Gables low threshold radiators
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CC Hall stairs landing paint & carpet.
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JF & CM ensuites & rooms
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Barn Lodge Hall stairs & landing refurbished
We are playing catch up a bit with refurbishment projects and decorating due to covid restrictions, which has contributed to the deficit this year but would have increased the surplus the previous year.
With the exception of the governance costs of £6,354 (2021: 4,244) all costs were derived from charitable activities and increased by 19% against the previous year from £1,668,085 to £1,992,151. The average number of employees paid in the year was 58 and salary costs increased by 2.5%. A considerable amount of agency staff were used totalling £316,664. Like many organisations in the sector recruitment and retention of staff has been a challenge
6
Stroud and District Homes Foundation Limited
Trustees’ Report (continued) For the year ended 30 September 2022
Risk management
Internal control risks are minimised by the implementation of procedures. Procedures are in place to ensure compliance with Health and Safety for staff and service users.
Control measures for risk management have been implemented by the organisation (based on individual support plans) to ensure that service users are not being put at unnecessary risk from harm or abuse due to reduced support provision.
These will be monitored and reviewed regularly and effective lines of communication will be maintained with other professionals (such as Local Authority and Health professionals) to ensure collectively that service users' needs are being met and that they are as safe as reasonably practicable.
Other considerations
Work began in September 21 to make the gardens at Sadlers and Huddlestone more accessible with disabled friendly paths and raised borders etc. as well as sensory considerations. A patio area was also created at the front of The Gables to give an area for service users to sit.
Reserves Policy
The Board endeavour to retain six months running costs in hand to provide against any financial risks the charity may be exposed to. The major financial risk faced by the organisation is the reduction in funding by the Local Authority. This would have a detrimental effect on the services that we provide.
Nevertheless we continue to challenge cuts in funding and ensure that the service user's best interests are at the heart of our provision.
The charity currently holds £500,000 (2021: £500,000) as designated funds towards the future development of the service. Other general unrestricted funds totalled £1,532,445 (2021: £1,716,442) at the year end.
Investment Policy
Surplus funds are placed on deposit with the bank insofar as they may be needed in the foreseeable future to cover the running costs for a period of several months. Funds over and above this are invested to produce a mixture of capital growth and income from low risk investments.
The opening value of the investment portfolio of £1,150,939 on 01 October 2021 compares with the closing value of the portfolio on 30 September 2022 of £1,009,329
Conclusion
The whole Board and a number of other friends provide considerable time and a range of skills and services on an entirely voluntary basis. Without this the company would not be able to function properly.
The Board will continue to use its best endeavours to improve the quality of life of those who live with us and will devote the resources available to providing them with the best possible service.
7
Stroud and District Homes Foundation Limited
Trustees’ Report (continued) For the year ended 30 September 2022
Statement of Trustees' Responsibilities
The trustees, who are also directors of Stroud and District Homes Foundation Limited for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including income and expenditure, of the charitable company for that year.
In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Auditors
The auditors, Wenn Townsend Chartered Accountants, will be proposed for re-appointment at the forthcoming Annual General Meeting.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
By order of the Board 30 March 2023
……………………….
Trustee
8
Stroud & District Homes Foundation Limited
Report of the Independent Auditors to the Members of Stroud & District Homes Foundation Limited For the year ended 30 September 2022
Opinion
We have audited the financial statements of Stroud and District Homes Foundation Limited (the 'charity') for the year ended 30 September 2022 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
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give a true and fair view of the state of the charitable company's affairs as at 30 September 2022 and of its incoming resources and application of resources, for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually pr collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
9
Stroud & District Homes Foundation Limited
Report of the Independent Auditors to the Members of Stroud & District Homes Foundation Limited
For the year ended 30 September 2022
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:
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the information given in the financial statements is inconsistent in any material respect with the trustees' report; or
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sufficient accounting records have not been kept; or
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the financial statements are not in agreement with the accounting records; or
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we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
A further description of our responsibilities is available on the Financial Reporting Council's website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Extent to which the audit was considered capable of detecting irregularities, including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council's website, to detect material misstatements in respect of irregularities, including fraud.
We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.
10
Stroud & District Homes Foundation Limited
Report of the Independent Auditors to the Members of Stroud & District Homes Foundation Limited
For the year ended 30 September 2022
In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:
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Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud;
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Reviewing minutes of meetings of those charged with governance;
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Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the entity through enquiry and inspection;
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Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
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Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Use of our report
This report is made solely to the charity's trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Wenn Townsend Gosditch House 5 Gosditch Street Cirencester
17 April 2023
11
Stroud and District Homes Foundation
Statement of Financial Activities for the year ended 30 September 2022 (incorporating the Income and Expenditure Account)
| Notes Incomefrom: Donations & legacies 3 Charitable activities Investment income Total Incoming Resources Resources Expended Charitable activities 6 Total Resources Expended Net incoming resources before transfers Gross transfers between funds Net incoming resources before other recognised gains and losses Other recognised gains Net gains/(losses) on investments11 Net movement in funds Balance at 30 September 2021 Total funds carried forward 18 |
Unrestricted Funds Restricted Funds Total Funds Total Funds 2022 2022 2022 2021 2,075 - 2,075 3,675 1,943,531 1,943,531 1,780,164 18,490 - 18,490 17,926 |
|---|---|
| 1,964,096 - 1,964,096 1,801,765 |
|
| 1,998,275 - 1,998,275 1,672,329 |
|
| 1,998,275 - 1,998,275 1,672,329 |
|
| (34,179) - (34,179) 129,436 (34,179) - (34,179) 129,436 (149,818) - (149,818) 180,173 |
|
| (183,997) - (183,997) 309,609 2,216,442 - 2,216,442 1,906,833 |
|
| 2,032,445 - 2,032,445 2,216,442 |
The statement of financial activities includes all gains and losses recognised during the year. All incoming resources expended derive from continuing activities.
12
Stroud and District Homes Foundation
Balance Sheet as at 30 September 2022
| Notes | 2022 | 2021 | 2021 | ||
|---|---|---|---|---|---|
| £ | £ | £ | £ | ||
| Fixed Assets | |||||
| Tangible assets | 12 | 130,373 | 102,188 | ||
| Investments | 13 | 1,009,329 | 1,150,939 | ||
| ─────── | ─────── | ||||
| 1,139,702 | 1,253,127 | ||||
| Current Assets | |||||
| Debtors: amounts falling due | |||||
| within one year | 15 | 310,625 | 242,974 | ||
| Debtors: amounts falling due | |||||
| after more than one year | 15 | 366,059 | 472,246 | ||
| Cash at bank and in hand | 16 | 391,579 | 337,642 | ||
| ─────── | ─────── | ||||
| 1,068,263 | 1,052,862 | ||||
| Current Liabilities | |||||
| Creditors: amounts falling due within one year |
17 | (175,520) | (89,547) | ||
| ─────── | ─────── | ||||
| Net Current Assets | 892,743 | 963,315 | |||
| ─────── | ─────── | ||||
| Total Funds | 2,032,445 | 2,216,442 | |||
| ─────── | ─────── | ||||
| Accumulated Reserves | |||||
| Unrestricted Income Funds | |||||
| General | 18 | 1,532,445 | 1,716,442 | ||
| Designated | 18 | 500,000 | 500,000 | ||
| ─────── | ─────── | ||||
| 2,032,445 | 2,216,442 | ||||
| ─────── | ─────── | ||||
| Total Funds | 2,032,445 | 2,216,442 | |||
| ═══════ | ═══════ |
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 September 2022, although an audit has been carried out under section 144 of the Charities Act 2011.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements under the requirements of the Companies Act 2006, for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Trustees on 30 March 2023 and signed on their behalf by:
………………………………….. ………………………………….. I Salter G Gilbert
13
Stroud & District Homes Foundation Limited
Statement of Cash Flows For the Year Ended 30 September 2022
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| Cash flows from operating activities | |||||
| Cash generated from/(absorbed by) | |||||
| Operations | 24 | 104,839 | 58,389 | ||
| Investingactivities | |||||
| Purchase of tangible fixed assets | (61,184) | (60,145) | |||
| Purchase of investments | (78,018) | (119,016) | |||
| Proceeds on disposal of investments | 266,268 | 126,728 | |||
| Investment income received | 18,490 | 17,926 | |||
| Net cash usedin investing activities | 145,556 | (34,507) | |||
| Net cash used in financing activities | - ─────── |
- ─────── |
|||
| Net decrease in cash and cash equivalents | 250,395 | 23,882 | |||
| Cash and cash equivalents at beginning of | year | 337,642 | 327,181 | ||
| Investment portfolio cash movements | (196,458) | (13,421) | |||
| ─────── | ─────── | ||||
| Cash and cash equivalents at end of year | 391,579 ═══════ |
337,642 ═══════ |
14
Stroud and District Homes Foundation Limited
Notes to the Financial Statements For the Year Ended 30 September 2022
1. Accounting Policies
Basis of Preparation of financial statements
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 and. "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 (FRS102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS102.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to Include certain financial instruments at fair value. The principal accounting policies adopted are set out below.
Going concern
At the time of approving the financial statements the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Fixed assets received as part of the gift from Stroud and District Mencap Society have been recorded at the net book value of those assets to the Society.
Equipment Depreciation is provided at 25% on the straight line basis Furniture & Fixtures Depreciation Is provided at 20% on the straight line basis Vehicles Depreciation is provided at 20% on the straight line basis
The freehold interest in the properties occupied by the charity for the provision of residential care and support is held by the Stroud and District Mencap Society and leased to the charity.
Income from Charitable Activities
The company has contracted with Gloucestershire Community and Adult Care Directorate to provide care and support for adults with learning disabilities. In supported accommodation, property related costs are met from the Housing Benefit to which the tenants are entitled. In addition tenants and residents receive benefits from the Department for Work and Pensions and Jobcentre Plus and are recharged individually for the costs of transport, household expenses, holidays and other facilities provided.
Other income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
15
Stroud and District Homes Foundation Limited
Notes to the Financial Statements (continued) For the Year Ended 30 September 2022
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
Income from government and other grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably.
Investment income is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest or dividends paid or payable by the bank or investment managers.
Resources expended
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to that category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Irrecoverable VAT is charged against the category of resources expended for which it is incurred.
Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include office costs, finance, personnel, payroll and governance costs which support the charity's programmes and activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. The bases on which support costs have been allocated are set out in the notes to the financial statements. The management of the charity's affairs and fundraising are wholly undertaken by volunteers and no salaries or other employee expenses are incurred.
Fixed asset investments
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.
Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Financial instruments
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
16
Stroud and District Homes Foundation Limited
Notes to the Financial Statements (continued) For the Year Ended 30 September 2022
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Concessionary loans are basic financial instruments and are initially recognized at the amount paid. The carrying amount is adjusted in subsequent years to reflect repayments and any impairment.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled.
Provisions
Provisions are recognised when the charity has a legal or constructive present obligation as a result of a past event, it is probable that the charity will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in net income/(expenditure) in the period in which it arises.
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets
17
Stroud and District Homes Foundation Limited
Notes to the Financial Statements (continued) For the Year Ended 30 September 2022
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Investments
The Trustee Act 2000 contains statutory powers enabling the trustees to delegate the investment management of the charity's assets to an appropriately qualified investment advisor with discretionary management powers subject to a general policy prescribed by the trustees. The trustees' present policy is that the charity's funds (if any) should be invested in deposit accounts or such other financial instruments as preserve their capital value while earning such interest as is commensurate with the associated, minimal risk.
Taxation
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
2. Designated and Restricted Funds
The company has not received any restricted funds this year. £500,000 remains held as designated funds towards the future development of the service.
There are currently no restricted funds.
3. Donations and legacies
| Donations and legacies | ||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Other donations | 2,075 | 3,675 |
| ═════ | ═════ |
18
Stroud and District Homes Foundation Limited
Notes to the Financial Statements (continued) For the Year Ended 30 September 2022
4. Income from charitable activities
| Income from charitable activities | ||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Supported Living | 1,895,937 | 1,723,998 |
| Other charitable income | 13,070 | 13,645 |
| Grants | 34,524 | 42,521 |
| ─────── | ─────── | |
| 1,943,531 | 1,780,164 | |
| ═══════ | ═══════ | |
| Covid support grants | ||
| Infection control and testing grants | 11,047 | 33,320 |
| Workforce capacity fund | 19,760 | 3,329 |
| Coronavirus job retention scheme | - | 3,851 |
| Covid-19 relief | 1,687 | - |
| Covid SSP grant | 2,030 | 2,021 |
| ─────── | ─────── | |
| 34,524 | 42,521 | |
| ═══════ | ═══════ |
5. Investment Income
The amount received represents dividends and interest on bank deposits and the investment portfolio.
6. Cost of charitable activities
| Cost of charitable activities | ||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Care and support costs | 1,389,043 | 1,151,801 |
| Property costs | 316,236 | 244,850 |
| Food and household costs | 63,438 | 59,525 |
| Transport costs | 22,691 | 23,751 |
| Residents’ personal expenditure and allowance | 1,534 | 1,536 |
| ─────── | ─────── | |
| 1,792,942 | 1,481,463 | |
| Support costs | 198,979 | 186,642 |
| Governance costs | 6,354 | 4,244 |
| ─────── | ─────── | |
| 1,998,275 | 1,672,329 | |
| ═══════ | ═══════ |
Depreciation charged of £32,999 on vehicles, office equipment and furniture and fixtures is included in these costs.
Staff costs are allocated in accordance with the nature of the service provided. Support costs are allocated in full to charitable activities.
19
Stroud and District Homes Foundation Limited
Notes to the Financial Statements (continued) For the Year Ended 30 September 2022
7. Support and Governance Costs
| Support Governance | Support Governance | Support Governance | Support Governance | Support Governance | ||
|---|---|---|---|---|---|---|
| Costs | Costs |
2022 | Costs | Costs | 2021 | |
| £ | £ |
£ | £ | £ | £ | |
| Deprecation | 6,884 | - |
6,884 | 5,717 | - | 5,717 |
| Wages & salaries | 125,124 | - |
125,124 | 126,727 | - | 126,727 |
| Office supplies | 10,258 | - |
10,258 | 10,821 | - | 10,821 |
| Telephone & IT | 21,735 | - |
21,735 | 14,577 | - | 14,577 |
| Legal & professional | 14,260 | - |
14,260 | 10,672 | - | 10,672 |
| Sundry expenses | 16,878 | - |
16,878 | 14,621 | - | 14,621 |
| Office costs | 3,840 | - |
3,840 | 3,507 | - | 3,507 |
| Audit fees | - | 6,354 |
6,354 | - | 4,224 | 4,224 |
| ───── | ───── |
───── | ───── | ───── | ───── | |
| 198,979 | 6,354 |
205,333 | 186,642 | 4,224 | 190,866 | |
| ───── | ───── |
───── | ───── | ───── | ───── | |
| Analysed between | ||||||
| charitable activities | 198,979 | 6,354 |
203,791 | 186,642 | 4,224 | 190,866 |
| ═════ | ═════ |
═════ | ═════ | ═════ | ═════ |
8. Net movement in funds
Net movement in funds is stated after charging/(crediting):
| Net movement in funds is stated after charging/(crediting): | ||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Fees payable to the company’s auditor for the audit of the | ||
| company's financial statements | 6,354 | 4,244 |
| Depreciation of owned tangible fixed assets | 32,999 | 33,187 |
| ═════ | ═════ |
9. Auditor’s remuneration
| Auditor’s remuneration | ||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Audit fees | 6,354 | 4,244 |
| ═════ | ═════ |
The auditor’s fee relates wholly to the cost of the audit. No other services are provided by the auditor.
20
Stroud and District Homes Foundation Limited
Notes to the Financial Statements (continued) For the Year Ended 30 September 2022
10. Staff costs
| Staff costs | ||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Gross salary costs | 1,138,206 | 1,096,932 |
| Employer’s national insurance contributions | 63,979 | 65,724 |
| Employer’s pension contributions | 8,277 | 18,611 |
| ─────── | ─────── | |
| 1,210,462 | 1,181,267 | |
| ═══════ | ═══════ |
The average number of persons paid per month by the company during the year was 58 (2021: 61). A number of staff worked part-time or irregular hours.
There were no employees whose annual remuneration was £60,000 or more (2021: none).
The staff costs did not include the costs of agency workers used during the year. There were £316,664 of agency costs this year (2021: £119,821).
11. Net gains/losses on investments
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Revaluation of investments | (141,610) | 163,793 |
| Gain/(loss) on sale of investments | (8,208) | 16,380 |
| ───── | ───── | |
| (149,818) | 180,173 | |
| ═════ | ═════ |
21
Stroud and District Homes Foundation Limited
Notes to the Financial Statements (continued) For the Year Ended 30 September 2022
12. Tangible Fixed Assets
| angible Fixed Assets | ||||
|---|---|---|---|---|
| Furniture | ||||
| Equipment | & fittings | Vehicles | Total | |
| £ | £ | £ | £ | |
| Cost | ||||
| At 1 October 2021 | 43,922 | 124,796 | 47,804 | 216,522 |
| Additions | 7,082 | 39,152 | 14,950 | 61,184 |
| Disposals | - | - | - | - |
| At 30 September 2022 | 51,004 | 163,948 | 62,754 | 277,706 |
| Depreciation | ||||
| At 1 October 2021 | 28,624 | 57,750 | 27,960 | 114,334 |
| Charge for the year | 6,884 | 19,607 | 6,508 | 32,999 |
| Disposals | - | - | - | - |
| At 30 September 2022 | 35,508 | 77,357 | 34,468 | 147,333 |
| Net book value at 30 September 2021 | 15,298 | 67,046 | 19,844 | 102,188 |
| Net book value at 30 September 2022 | 15,496 | 86,591 | 28,286 | 130,373 |
All the charity's assets are used for charitable purposes.
13. Fixed asset investment
| Fixed asset investment | |||
|---|---|---|---|
| Listed | Cash in | ||
| investments | portfolio | Total | |
| £ | £ | £ | |
| Cost or valuation | |||
| At 1 October 2021 | 1,129,631 | 21,307 | 1,150,938 |
| Additions | 78,018 | 196,459 | 274,477 |
| Disposals | (266,268) | - | (266,268) |
| Valuation changes | (149,818) | - | (149,818) |
| At 30 September 2022 | 791,563 | 217,766 | 1,009,329 |
| Carrying amount | |||
| At 30 September 2022 | 791,563 | 217,766 | 1,009,329 |
| At 30 September 2021 | 1,129,631 | 21,307 | 1,150,938 |
Digby Associates manage the investment portfolio on behalf of the Trustees. The investment income from the portfolio is reinvested.
22
Stroud and District Homes Foundation Limited
Notes to the Financial Statements (continued) For the Year Ended 30 September 2022
14. Financial instruments
| Financial instruments | ||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Carrying amounts of financial assets | ||
| Instruments measured at fair value through profit or loss | 831,563 | 1,129,631 |
| Concessionary loans measured at cost less impairment | 456,059 | 532,246 |
| ═══════ | ═══════ |
Further information is provided in the accounting policies and the concessionary loans note.
15. Debtors
| Debtors | ||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Trade debtors | 178,875 | 157,238 |
| Prepayments | 34,670 | 18,782 |
| Accrued income | 7,080 | 6,954 |
| Amounts due from Stroud & District Mencap Society | 456,059 | 532,246 |
| ─────── | ─────── | |
| 676,684 | 715,220 | |
| ═══════ | ═══════ |
Included within debtors are amounts due greater than one year of £366,059 (2021: £472,246).
16. Bank balances
| 16. | Bank balances | ||
|---|---|---|---|
| 2022 | 2021 | ||
| £ | £ | ||
| Interest bearing deposit accounts | 216,809 | 225,029 | |
| Other accounts | 175,070 | 112,613 | |
| ─────── | ─────── | ||
| 391,579 | 337,642 | ||
| ═══════ | ═══════ | ||
| 17. | Creditors | ||
| 2022 | 2021 | ||
| £ | £ | ||
| Other taxation and social security | 20,560 | 20,164 | |
| Trade creditors | 101,516 | 28,066 | |
| Other creditors | 5,116 | 1,257 | |
| Accruals | 48,328 | 40,060 | |
| ─────── | ─────── | ||
| 175,520 | 89,547 | ||
| ═══════ | ═══════ |
23
Stroud and District Homes Foundation Limited
Notes to the Financial Statements (continued) For the Year Ended 30 September 2022
18. Unrestricted funds
| Unrestricted funds | |
|---|---|
| General fund Designated fund General fund Designated fund |
At Revaluation At 1 October Incoming Outgoing gains & 30 September 2021 resources resources losses 2022 1,716,442 1,964,096 1,998,275 (149,818) 1,532,445 500,000 - - - 500,000 |
| 2,216,442 1,964,096 1,998,505 (149,818) 2,032,445 |
|
| At Revaluation At 1 October Incoming Outgoing gains & 30 September 2020 resources resources losses 2021 1,406,833 1,801,765 1,672,329 180,173 1,716,442 500,000 - - - 500,000 |
|
| 1,906,833 1,801,765 1,672,329 180,173 2,216,442 |
24
Stroud and District Homes Foundation Limited
Notes to the Financial Statements (continued) For the Year Ended 30 September 2022
19. Analysis of net assets between funds
Fund balances at 30 September 2022 represented by:
| Tangible fixed assets Fixed asset investments Cash at bank and in hand Other net assets |
General Designated Restricted Total funds funds funds funds £ £ £ £ 130,373 - - 130,373 609,329 500,000 - 1,009,329 391,579 - - 391,579 501,164 - - 501,164 |
|---|---|
| 1,532,445 500,000 - 2,032,445 |
Fund balances at 30 September 2021 represented by:
| Tangible fixed assets Fixed asset investments Cash at bank and in hand Other net assets |
General Designated Restricted Total funds funds funds funds £ £ £ £ 102,188 - - 102,188 650,939 500,000 - 1,150,939 337,642 - - 337,642 625,673 - - 625,673 |
|---|---|
| 1,716,442 500,000 - 2,216,442 |
20. Concessionary loans
The charity has provided an interest free loan to Stroud & District Mencap Society of £118,713 (2021: £196,213) to enable the purchase of 17 Brimley (Sadlers) and £337,346 (2021: £336,033) for the extension and refurbishment of Sadlers (completed Jan 2021). This is being repaid at £5,000 per month with £60,000 included within debtors falling due within one year and £366,059 included within debtors falling due in greater than one year. All additional works specific to service users were paid for by the charity and are capitalised as fixed assets where appropriate.
The Society is connected to the charity by virtue of having Trustees in common and is also the landlord of the properties that the charity's service users live in. The interest free loan enables Stroud and District Mencap Society to purchase the properties, which is considered to be mutually beneficial in allowing both charities to fulfil their charitable objectives.
25
Stroud and District Homes Foundation Limited
Notes to the Financial Statements (continued) For the Year Ended 30 September 2022
21. Financial commitments, guarantee and contingent liabilities
The charitable company has an informal agreement with Stroud and District Mencap Society to lease the properties in which the services users reside. Rentals totaling £119,694 were charged in the year (2021: £123,257). The charitable company has no other financial commitments, guarantees or contingent liabilities (2021: £nil).
22. Transactions with trustees and connected persons
During the year consultancy services totaling £7,500 (2021: £5,100) were provided by Ian Salter who was appointed to the board of Trustees on 13 August 2018. At 30 September 2022 there was £7,500 due to Ian Salter (2021: £5,100).
No other payments were made to Trustees, committee members or persons connected with them except by way of reimbursement of expenditure incurred on behalf of the company.
At 30 September 2022, of the 31 people then resident in the homes 4 were family members of members of the Board (2021: 2 out of 33). The financial arrangements for these residents are identical to those available to the general public.
23. Related party transactions
In addition to the loan balances above, at 30 September 2022 there was an amount due from Stroud and District Mencap Society included within trade debtors of £nil (2021: £482).
26
Stroud and District Homes Foundation Limited
Notes to the Financial Statements (continued) For the Year Ended 30 September 2022
24. Cash generated from operations
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Surplus/(deficit) for the year | (143,997) | 309,609 |
| Adjustments for: | ||
| Investment income recognised in the statement of financial activities | (18,490) | (17,926) |
| Fair value gains and losses on investments | 101,610 | (163,793) |
| Loss/(Gains) on disposal of investments | 8,208 | (16,380) |
| Depreciation and impairment of tangible fixed assets | 32,999 | 33,187 |
| Movements in working capital: | ||
| Decrease/(increase) in stocks | - | 1,598 |
| Decrease/(increase) in debtors | 38,536 | (99,266) |
| (Decrease)/increase in creditors | 85,973 | 11,360 |
| ─────── | ─────── | |
| Cash generated from operations | 104,839 | 58,389 |
| ═══════ | ═══════ |
25. Analysis of changes in net funds
The charity had no debt during the year.
27
Stroud and District Homes Foundation Limited
Supplementary Information Detailed Income and Expenditure For the Year Ended 30 September 2022
| 2022 | 2021 | |||
|---|---|---|---|---|
| £ | £ | £ | £ | |
| Unrestricted Funds | ||||
| Income | ||||
| Services to those in residential care | - | - | ||
| Services to those in supported accommodation | 1,915,909 | 1,723,998 | ||
| Amounts recovered for transport provided | 12,858 | 11,973 | ||
| Other expenditure recovered | - | 1,672 | ||
| Covid support grants | 14,764 | 42,521 | ||
| ─────── | ─────── | |||
| 1,943,531 | 1,780,164 | |||
| Holiday allowances to residents | - | - | ||
| ─────── | ─────── | |||
| - | - | |||
| ─────── | ─────── | |||
| 1,943,531 | 1,780,164 | |||
| Grants | - | - | ||
| Donations received | 2,075 | 3,675 | ||
| Fundraising | - | - | ||
| Legacy | - | - | ||
| Investment interest | 18,456 | 17,926 | ||
| Bank interest | 266 | - | ||
| ─────── | ─────── | |||
| 20,797 | 21,601 | |||
| ─────── | ─────── | |||
| Resources available | 1,964,096 | 1,801,765 | ||
| Expenditure incurred | (1,998,275) | (1,672,329) | ||
| ─────── | ─────── | |||
| Excess of income over expenditure for the year | (34,179) | 129,436 | ||
| ═══════ | ═══════ | |||
| Restricted Funds | ||||
| Balance brought forward | - | - | ||
| Transfer to unrestricted funds | - | - | ||
| ─────── | ─────── | |||
| Balance carried forward | - | - | ||
| ═══════ | ═══════ |
28
2022 2021 £ £ £ £
Stroud and District Homes Foundation Limited
Supplementary Information Detailed Income and Expenditure For the Year Ended 30 September 2022
Unrestricted Funds Expenditure Care and support costs
| tricted Funds diture re and support costs |
£ | 2022 £ |
£ | 2021 £ |
|---|---|---|---|---|
| Staff salaries – care | - | - | ||
| Staff salaries – support | 1,062,845 | 1,023,168 | ||
| Agency staff | 316,664 | 119,821 | ||
| Staff training | 4,901 | 5,131 | ||
| Staff recruitment | 3,536 | 2,776 | ||
| Staff refreshments | 1,097 | 905 | ||
| ─────── | ─────── | |||
| 1,389,043 | 1,151,801 | |||
| operty costs | ||||
| Rent charge | 119,694 | 123,257 | ||
| Maintenance | 111,556 | 41,736 | ||
| Insurance | 17,897 | 16,143 | ||
| Council tax | 7,128 | 7,193 | ||
| Refuse collection | 4,234 | 3,925 | ||
| Homes and garden maintenance | 33,586 | 31,372 | ||
| Garden | 2,534 | 2,865 | ||
| Vet bills | - | - | ||
| Furniture and fixtures depreciation | 19,607 | 18,359 | ||
| ─────── | ─────── | |||
| 316,236 | 244,850 | |||
| od and household expenses | ||||
| Food | - | - | ||
| Water | 7,324 | 5,893 | ||
| Electricity and fuel | 36,301 | 31,695 | ||
| Telephone | 4,800 | 5,256 | ||
| Health & hygiene | 13,378 | 15,542 | ||
| TV licensing | 1,113 | 1,106 | ||
| Sundry expenses | 522 | 33 | ||
| ─────── | ─────── | |||
| 63,438 | 59,525 | |||
| ministration costs | ||||
| Staff salaries | 125,049 | 126,727 | ||
| Staff training | 75 | 55 | ||
| Recruitment advertising | - | - | ||
| Council tax | 522 | 522 | ||
| Care management system | 3,840 | - | ||
| Office supplies | 7,739 | 10,821 | ||
| Office telephone and IT support | 16,325 | 13,851 | ||
| Legal and other professional | 14,260 | 10,672 | ||
| Storage | 2,519 | 2,519 | ||
| Registration | 2,085 | - | ||
| Subscriptions | 213 | 213 | ||
| Office equipment < £500 | - | - | ||
| Office equipment depreciation | 6,884 | 5,717 | ||
| Website development | 560 | 726 | ||
| Office cleaning | 2,030 | 198 | ||
| Sundry expenses | 16,878 | 14,621 | ||
| ─────── | ─────── | |||
| 198,979 | 186,642 |
Property costs
Food and household expenses
Administration costs
29
Stroud and District Homes Foundation Limited
Supplementary Information Detailed Income and Expenditure For the Year Ended 30 September 2022
| 2022 | 202 | |||
|---|---|---|---|---|
| £ | £ | £ | £ | |
| Unrestricted Funds | ||||
| Expenditure | ||||
| Transport costs | ||||
| Vehicle (hire, repairs, maintenance, | ||||
| insurance, fuel) | 16,001 | 14,590 | ||
| Vehicle depreciation | 6,508 | 9,111 | ||
| Other transport costs | 182 | 50 | ||
| ─────── | ─────── | |||
| 22,691 | 23,751 | |||
| Residents expenses | ||||
| Cash advances | - | - | ||
| Social education and outings | - | - | ||
| Activities | - | - | ||
| Presents | 1,534 | 1,536 | ||
| ─────── | ─────── | |||
| 1,534 | 1,536 | |||
| ─────── | ─────── | |||
| Charitable activities | - | 1,668,105 | ||
| Fundraising expenses | - | - | ||
| Audit fees | 6,354 | 4,224 | ||
| ─────── | ─────── | |||
| Total Expenditure | 1,998,275 | 1,672,329 | ||
| ═══════ | ═══════ |
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