##
|Trustees||Mr FA Betteridge|Mr FA Betteridge|||
|---|---|---|---|---|---|
|||Mrs SA Rogers||||
|||Mr G Walker||(Appointed|1 December|
|||||2020)||
|||Mrs M Hall||(Appointed|12July 2021)|
|Secretary||Mrs Tracy Graham||||
|Charity number||1086162||||
|Company|number|03286106||||
|Principal address||9th Floor West|Plaza|||
|||144 High Street||||
|||West Bromwich||||
|||West Midlands||||
|||B706JJ||||
|Registered|office|9th Floor West|Plaza|||
|||144 High Street||||
|||West Bromwich||||
|||West Midlands||||
|||B706JJ||||
|Auditor||CKAudit||||
|||No 4Castle Court 2||||
|||Castlegate
Way||||
|||Dudley||||
|||West Midlands||||
|||DY1 4RH||||
|Bankers||Barclays Bank|Pic - Dudley|||
|||47 High Street||||
|||Dudley||||
|||West Midlands||||
|||DY1 1PP||||
|Solicitors||Wright Hassal|LLP|||
|||Olympus
Avenue||||
|||Leamington
Spa||||
|||Warwickshire||||
|||CV34 6BF||||
##
|||Page|
|---|---|---|
|Trustees'
report|||
|Statement ofTrustees'|responsibilities||
|Independent
auditor's|report|7-9|
|Statement offinancial|activities|to|
|Balance sheet|||
|Statement
ofcash flows||12|
|Notes to the financial|statements|13-28|
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|||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|---|
|||||funds|funds|||
|||||2021|2021|2021|2020|
||||Notes||6|6||
|Iggggig fritgLi||||||||
|Donaticns and legacies|||3|746,712||746,712|42,744|
|Charitable
activges|||4|13,869,259||13,869,259|13,749,08'I|
|Total Income||||14,615,971||14,815,971|13,791,825|
|RXeagtfitggtgg;||||||||
|Charitable
activities|||5|14,540,553||14,540,553|13,037,340|
||||9|159,671||159,671|369,833|
|Total resources expended||||14,700,224||14,700424|13,407,173|
|Net (expenditure)/income||for the yeari||||||
|Net (outgoing)gncoming||resources||(84,253)||(84,253)|384,652|
|Other recognised|gains and losses|||||||
|Actuarial
(loss)/gain|on de8ned benefit pension|||||||
|schemes||||(1,914,000)||(1,914,000)|1,325,000|
|Net movement
in funds||||(1,998,253)||(1,998g53)|1,709,652|
|Fund balances at 1|April 2020|||8,377,015|373,393|6,750,408|5,040,756|
|Fund balances at 318tarch 2021||||4,378,762|373,393|4,752,155|6,750,408|
##
##
||||||2021|2020|
|---|---|---|---|---|---|---|
|||||Notes|6|8|
|Fixed assets|||||||
|Tangible assets||||12|9,482,385|16,059,884|
|Current assets|||||||
|Debtors|||||2,600,668|1,928,371|
|Cash at bank and in hand|||||2,011,573|66,635|
||||||4,612,241|1,995,006|
|Creditors: amounts|falgng due||within||||
|one year||||15|(4,270,743)|(2,384,104)|
|Net current assets/(fiabfilties)|||||341,498|(389,098)|
|Total assets less current||liabilities|||9,823,883|15,670,786|
|Creditors: amounts|falling due||after||||
|more than one year|||||(801,728)|(6,756,378)|
|Net assets excluding|pension||llabigty||9,022,155|8,914,408|
|Defined benefit pension||liability||1'7|(4,270,000)|(2,164,000)|
|Net assets|||||4,752,155|6,750,408|
|income funds|||||||
|Restricted funds||||18|373,393|373,393|
|Unrestricted
funds|||||4,378,762|6,377,015|
||||||4,752,155|8,750,408|
##
##
|||||||2021|2020||
|---|---|---|---|---|---|---|---|---|
||||||Notes|2|6||
|Cash flows from operating|||activities||||||
|Cash (absorbed
by)/generated|||from||23||||
|operations||||||(689,385)||683,922|
|Investing|activities||||||||
|Purchase|oftangible
fixed assets|||||(6,540,500)|||
|Proceeds|on disposal oftangible|||fixed|||||
|assets||||||13,122,503|||
|Net cash|generated
from/(used|||in)|||||
|investing|activities|||||6,582,003|||
|Financing|activities||||||||
|Repayment|ofbank loans|||||(3,947,680)|(523,676)||
|Net cash|used
In financing||activities|||(3,947,680)||(523,676)|
|Net increase
in cash and cash||||equivalents||1,944,938||160,246|
|Cash and|cash equivalents|at beginning|||ofyear|66,635||(93,611)|
|Cash and|cash equivalents||at end of||year|2,011,573||66,635|
##
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||||Unrestricted|Total|
|---|---|---|---|---|
||||funds||
||||2021|2020|
|||||8|
|Donations|and gifts||42,744|42,744|
|Covid-19|government|support|703,968||
||||746,712|42,744|
##
|Residential|Residential|and|
|---|---|---|
|and|Daycare services||
|Daycare|||
|services|||
|2021||2020|
|6||8|
|13,869,259|13,749,081||
##
##
|||Residential|Residential|
|---|---|---|---|
|||and|and|
|||Daycare|Daycare|
|||services|services|
|||2021|2020|
|||8|8|
|Staff costs||10,648,538|10,083,239|
|Heat and light||219,576|142,380|
|Rent, rates and insurance||865,286|562,320|
|Telecommunications||4,491|7,369|
|Other staff costs||34,500|10,321|
|Motor and travel costs||53,760|63,835|
|Repairs and renewals||328,527|438,534|
|Cleaning, waste and|pest control|161,204|151,005|
|Other office costs||84,676|80,243|
|Printing,
postage and|stationery|10,610|2,844|
|Provisions||252,816|283,373|
|||12,663,984|11,825,463|
|Share ofsupport costs (see note 6)||1,815,665|1,137,491|
|Share ofgovernance|costs (see note 6)|60,904|74,386|
|||14,540,553|13,037,340|
##
##
##
##
|Support costs|||||||
|---|---|---|---|---|---|---|
||||Support Governance||2021|2020|
||||costs|costs|||
||||f|f|||
|Staff costs|||983,984||983,984|575,357|
|Profit on disposal oftangible assets|||(4,504)||(4,504)||
|Heat and light|||12,024||12,024|26,385|
|Rent, rates and insurance|||300,451||300,451|265,066|
|Telecommunications|||40,332||40,332|20,646|
|Other stair costs|||3,276||3,276|8,942|
|Motor and travel|||28,047||28,047|29,156|
|Repairs, renewals
and equipment||rental|48,544||48,544|42,364|
|Cleaning waste and pest control|||59,179||59,179|1,152|
|Other of5ce costs and sessionals|||320,937||320,937|140,763|
|Printing,
postage and stationery|||22,687||22,687|25,975|
|Provisions|||708||708|1,685|
|Audit fees||||17,430|17,430|17,880|
|Legal and professional||||43,474|43,474|44,998|
|Citation fees||||||11,508|
||||1,815,665|60,904|1,876,569|1,211,877|
|Analysed
between|||||||
|Charitable
activities|||1,815,665|60,904|1,876,569|1,211,877|
|Auditor's
remuneration|||||||
|Fees payable tothe Charity's|auditor and associates:||||2021f|2020f|
|Audit ofthe Charity's
annual accounts|||||13,175|12,150|
|Nonwudit
services|||||||
|Other assurance
services|||||2,350|2,350|
##
##
|||||2021|2020|
|---|---|---|---|---|---|
|||||f|f|
|Financing costs||||159,671|369,833|
|||||159,671|369,833|
|Employees||||||
|The average|monthly|number ofemployees|during the year was:|||
|||||2021|2020|
|||||Number|Number|
|Care||||462|465|
|Finance and|adminstration|||11|12|
|Total||||473|477|
|Employment|costs|||2021f|2020f|
|Wages and salaries||||10,189,597|9,117,253|
|Social security costs||||786,214|700,664|
|Other pension costs||||656,711|840,679|
|||||11,632,522|10,658,596|
##
|The
number
of employees
whose
annual
remune
f60,000 is as follows:|ration
was
more
than||
|---|---|---|
||2021|2020|
||Number|Number|
|f70,001 - f80,000|||
|f120,001 - f135,000|||
##
##
|Tangible fix|ed asset|s||
|---|---|---|---|
||||Land and buildingsf|
|Cost||||
|At 1 April 2020|||16,059,884|
|Additions|||6,540,500|
|Disposals|||(13,117,999)|
|At 31 March|2021||9,482,385|
|Depreciation|and impairment|||
|Depreciation|charged|in the year|142,236|
|Revaluation|||(142,236)|
|Carrying
amount||||
|At 31 March|2021||9,482,385|
|At 31 March|2020||16,059,884|
##
|Debtors||||
|---|---|---|---|
|||2021|2020|
|Amounts
falling due within one year:||6|6|
|Trade debtors||1,791,570|1,738,277|
|Other debtors||649,092|25,769|
|Prepayments|and accrued income|160,006|164,325|
|||2,600,668|1,928,371|
##
|14|Loans and overdrafts|Loans and overdrafts||||
|---|---|---|---|---|---|
|||||2021|2020|
|||||6|6|
||Bank loans|||3,646,710|7,594,390|
||Payable|within one year||2,844,982|838,012|
||Payable|after one year||801,728|6,756,378|
||Amounts|included
above which|fall due after five years:|||
||Payable|by instalments||66,667|4,693,915|
##
##
|15|Creditors: amounts|falling due within one year||||
|---|---|---|---|---|---|
||||Notes|2021f|2020
6|
||Bankloans||14|2,844,982|838,012|
||Other taxation and social security|||223,834|179,659|
||Trade creditors|||125,035|154,962|
||Other creditors|||2,593|8,437|
||Accruals and deferred|income||1,074,299|1,203,034|
|||||4,270,743|2,384,104|
|16|Creditors: amounts|falling due after more than one year||||
|||||2021|2020|
||||Notes|||
||Bankloans||14|801,728|6,756,378|
##
##
##
##
|Key assu||mptions||||||||
|---|---|---|---|---|---|---|---|---|---|
|||||||||2021|2020|
||||||||||'%%d|
|Discount||rate||||||2|2.35|
|Expected||rate ofincrease ofpensions||||in payment||2.8|1.9|
|Expected||rate ofsalary||increases||||3.8|2.9|
|Mortality||assumptions||||||||
|The assumed
life expectations|||||on retirement||at age 65are:|||
|||||||||2021|2020|
|||||||||Years|Years|
|Retiring|today|||||||||
|- Males||||||||21.6|21.9|
|-Females||||||||23.9|24.1|
|Retiring|in 20years|||||||||
|- Males||||||||23.4|23.8|
|-Females||||||||25.8|26|
|Amounts||recognised|in|the profit and||loss account:||||
|||||||||2021|2020|
|||||||||6|6|
|Current|service cost|||||||345,000|373,000|
|Net interest on defined||||benefit|liability/(asset)|||48,000|72,000|
|Total costs||||||||393,000|445,000|
##
|17|Retirement
benefit schemes|Retirement
benefit schemes|Retirement
benefit schemes|||||||||||(Continued)|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||Amounts
taken to other||comprehensive||||income:||||||||
||||||||||||||2021|2020|
||||||||||||||8|6|
||Actual
return on scheme||assets||||||||||(3,649,000)|791,000|
||Less: calculated
interest||element||||||||||445,000|460,000|
||Return on scheme assets excluding|||||interest income|||||||(3,204,000)|1,251,000|
||Actuarial
changes related to obligations||||||||||||5,393,000|(2,376,000)|
||Other gains and losses|||||||||||||(845,000)|
||Total costs/(income)||||||||||||2,189,000|(1,970,000)|
||The
amounts
included||in the||balance|||sheet|arising|from|the|Charity's|||
||obligations
in respect of||defined||benefit plans are as follows:||||||||||
||||||||||||||2021|2020|
||||||||||||||6|8|
||Present value ofdefined||benefit||obligations||||||||26,730,000|21,206,000|
||Fair value of plan assets||||||||||||(22,460,000)|(19,042,000)|
||Deficit in scheme||||||||||||4,270,000|2,164,000|
||Movements
in the present value||||ofdefined|||benefit obligations:|||||||
|||||||||||||||2021|
|||||||||||||||6|
||Liabilities at 1 April 2020|||||||||||||21,206,000|
||Liabilities assumed
in a||business||combination|||||||||(275,000)|
||Current service cost|||||||||||||345,000|
||Benefits paid|||||||||||||(497,000)|
||Contributions
from scheme members|||||||||||||65,000|
||Actuarial
gains and losses|||||||||||||5,393,000|
||Interest cost|||||||||||||493,000|
||At 31 March 2021|||||||||||||26,730,000|
||The defined
benefit obligations|||arise||from||plans funded||as follows:|||||
|||||||||||||||2021|
|||||||||||||||6|
||Wholly unfunded
obligations|||||||||||||214,000|
||Wholly or partly funded|obligations||||||||||||26,516,000|
|||||||||||||||26,730,000|
##
##
||||||2021|
|---|---|---|---|---|---|
||||||6|
|Fair value of|assets at 1 April 2020||||19,042,000|
|Interest income|||||445,000|
|Return
on plan assets (excluding||amounts|included|in net interest)|3,204,000|
|Benefits paid|||||(497,000)|
|Contributions|by the employer||||214,000|
|Contributions|by scheme members||||65,000|
|Other|||||(13,000)|
|At 31 March|2021||||22,460,000|
|The fair valu|e of plan assets at the reporting
perio|d end was as follows:||
|---|---|---|---|
|||2021|2020|
|||6|6|
|Equity instruments||13,232,000|10,840,000|
|Property||1,623,000|1,694,000|
|Government|bonds|2,236,000|2,213,000|
|Other bonds||863,000|796,000|
|Cash||1,342,000|683,000|
|Other||3,164,000|2,816,000|
|||22,460,000|19,042,000|
##
|||||Movement||Movement||
|---|---|---|---|---|---|---|---|
|||||in funds||in funds||
|||1|Balance at
April 2019as|Incoming
resources|Balance at
1Aprg 2020|Incoming
resources|Balance at
31March 2021|
||||restated|||||
||||6|||||
|Alsop|House||373,393||373,393||373,393|
##
##
|19|Analysis of|net assets|between funds||||||
|---|---|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total Unrestricted||Restricted|Total|
||||funds|funds||funds|funds||
||||2021|2021|2021|2020|2020|2020|
||||6|8||6|8|6|
||Fund balances at 31||||||||
||March 2021|are|||||||
||represented|by:|||||||
||Tangible assets||9,108,992|373,393|9,482,385|15,686,491|373,393|16,059,884|
||Current assets/||||||||
||(liabilities)||341,498||341,498|(389,098)||(389,098)|
||Long term liabilities||(801,728)||(801,728)|(6,756,378)||(6,756,378)|
||Provisionsand||||||||
||pensions||(4,270,000)||(4,270,000)|(2,164,000)||(2,164,000)|
||||4,378,762|373,393|4,752,155|6,377,015|373,393|6,750,408|
##
##
||2021|2020|
|---|---|---|
||6|8|
|Within one year|1,227,332|834,333|
|Between two and five years|4,334,596|2,772,006|
|In over five years|16,163,589|4,286,158|
||21,725,517|7,892,497|
##
|||2021|2020|
|---|---|---|---|
||||F|
|Aggregate|compensation|228,369|221,803|
##
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##
|||||||
|---|---|---|---|---|---|
|Cash generated
from||operation|s|2021|2020|
|||||8|6|
|Deficit for the year||||(84,253)|384,652|
|Adjustments
for:||||||
|Gain on disposal of|tangible
fixed||assets|(4,504)||
|Difference between|pension charge and cash contributions|||192,000|402,000|
|Movements
in working||capital:||||
|(Increase)
in debtors||||(672,297)|(158,001)|
|(Decrease)/increase|in|creditors||(120,331)|55,271|
|Cash (absorbed
by)/generated|||from operations|(689,385)|683,922|