|Trustees||Mr FA Betteridge|||
|---|---|---|---|---|
|||Mrs SARogers|||
|||Mr G Walker|||
|||Mrs M Hall|(Appointed|12July 2021)|
|||MrA Coley|||
|Secretary||Mrs Tracy Graham|||
|Charity number||1086162|||
|Company|number|03286106|||
|Principal address||9th Floor West Plaza|||
|||144 High %rect|||
|||West Bromwich|||
|||West Midlands|||
|||B706JJ|||
|Registered|office|9th Floor West Plaza|||
|||144 High Street|||
|||West Bromwich|||
|||West Midlands|||
|||B706JJ|||
|Auditor||CKAudit|||
|||No 4 Castle 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||1-5|
|Statement ofTrustees'|responsibilities||
|Independent
auditor's|report||
|Statement
offinancial|activities|10|
|Balance sheet|||
|Statement ofcash flows||12|
|Notes to the financial statements||13-28|
##
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##
||||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|---|---|
||||||funds|funds|||
|||||Notes|2022
6|2022
6|2022f|2021|
|IgggmafrggLi|||||||||
|Donations
and|legacies|||3|477,336||477,336|746,712|
|Charitable
activities||||4|13,517,169||13,517,169|13,869,259|
|Investments||||5|304||304||
|Total Income|||||13,994,809||13,994,809|14,615,971|
|Exgattditlttfum;|||||||||
|Charitable
activities||||6|13,910,921||13,910,921|14,540,553|
|Other||||11|158,413||158,413|159,671|
|Total resources expended|||||14,069,334||14,069,334|14,700,224|
|Net expenditure
forthe year/|||||||||
|Net outgoing|msources||||(74,525)||(74,525)|(84,253)|
|Other recognised||gains and|losses||||||
|Actuarial
gain/(loss)||on defined|benefit pension||||||
|schemes|||||2,957,000||2,957,000|(1,914,000)|
|Net movement|in funds||||2,882,475||2,882,475|(1,998,253)|
|Fund balances|at 1|April 2021|||4,378,762|373,393|4,752,155|6,750,408|
|Fund balances|at|31 March 2022|||7,261,237|373,393|7,634,630|4,752,155|
##
##
||||||2022|2021|
|---|---|---|---|---|---|---|
|||||Notes|f|6|
|Fixed assets|||||||
|Tangible assets||||13|9,520,085|9,482,385|
|Current assets|||||||
|Debtors||||14|1,753,544|2,600,668|
|Cash at bank snd in|hand||||2,620,591|2,011,573|
||||||4,374,135|4,612,241|
|Creditors: amounts|falling due within||||||
|one year||||16|(3,994,084)|(4,270,743)|
|Nst current assets|||||380,051|341,498|
|Total assets less current||liabilities|||9,900,136|9,823,883|
|Creditors: amounts|falling due||after||||
|more than one year|||||(652,506)|(801,728)|
|Net assets excluding|pension||liability||9,247,630|9,022,155|
|Defined benefit pension||liability|||(1,613,000)|(4,270,000)|
|Net assets|||||7,634,630|4,752,155|
|Income funds|||||||
|Res(doted funds||||20|373,393|373,393|
|Unrestricted
funds|||||7,261,237|4.378.762|
||||||7,834,630|4,752,155|
##
||||||||2022||2021|
|---|---|---|---|---|---|---|---|---|---|
||||||||8||E|
|Cash flows from operating|||activities|||||||
|Cash generated
from/(absorbed||||by)||25||||
|operations||||||||807,514|(689,385)|
|Investing|activities|||||||||
|Purchase|oftangible fixed assets||||||(37,700)||(6,540,500)|
|Proceeds|from disposal oftangible
fixed|||||||||
|assets|||||||||13,122,503|
|Investment|income received||||||304|||
|Net cash|(used In)/generated||from|||||||
|Investing|activities|||||||(37,396)|6,582,003|
|Financing|activities|||||||||
|Repayment|ofbank loans||||||(161,100)||(3,947,680)|
|Net cash used
in financing|||activities|||||(161,100)|(3,947,680)|
|Net increase
In cash and cash||||equivalents||||609,018|1,944,938|
|Cash and|cash equivalents|at beginning|||ofyear|||2,011,573|66,635|
|Cash and|cash equivalents||at end ofyear|||||2,620,591|2,011,573|
##
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##
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##
##
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##
##
##
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##
##
##
||||Unrestricted|Total|
|---|---|---|---|---|
||||funds||
||||2022f|2021|
|Donations|and gifts|||42,744|
|Covid-19|government|support|477,336|703,968|
||||477,336|746,712|
##
|Residential|Residential|and|
|---|---|---|
|and|Daycare services||
|Daycare|||
|services|||
|2022||2021|
|13,517,169|13,869,259||
##
|Unrestricted|Total|
|---|---|
|funds||
|2022|2021|
|5||
|304||
##
##
|||Residential|Residential|
|---|---|---|---|
|||and|and|
|||Daycare|Daycsre|
|||services|services|
|||2022|2021|
|Staff costs||9,976,243|10,648,538|
|Heat and light||141,700|219,576|
|Rent, rates and insurance||1,041,390|865,286|
|Telecommunications||4,760|4,491|
|Other staff costs||35,547|34,500|
|Motor and travel costs||23,495|53,760|
|Repairs and renewals||374,972|328,527|
|Cleaning, waste and|pest control|106,496|161,204|
|Other office costs||73,517|84,676|
|Printing,
postage and|stationery|6,163|10,610|
|Provisions||177,293|252,816|
|||11,961,576|12,663,984|
|Share ofsupport costs (see note 7)||1,873,647|1,815,665|
|Share ofgovernance|costs (see note 7)|75,698|60,904|
|||13,910,921|14,540,553|
##
|7|Supportcosts|||||||
|---|---|---|---|---|---|---|---|
|||||Support|Governance|2022|2021|
|||||costs|costs|||
||||||8|||
||Staff costs|||1,135,190||1,135,190|983,984|
||Profft on disposal oftangible assets||||||(4,504)|
||Heat and light|||23,921||23,921|12,024|
||Rent, rates and insurance|||161,674||161,674|300,451|
||Telecommunications|||30,684||30,684|40,332|
||Other staff costs|||90,448||90,448|3,276|
||Motor and travel|||64,784||64,784|28,047|
||Repairs, renewals
and equipment||rental|116,049||116,049|48,544|
||Cleaning waste and pest control|||13,882||13,882|59,179|
||Other office costs and sessionals|||206,099||206,099|320,937|
||Printing,
postage and stationery|||30,354||30,354|22,687|
||Provisions|||562||562|708|
||Audit fees||||28,338|28,338|17,430|
||Legal and professional||||47,360|47,360|43,474|
|||||1,873,647|75,698|1,949,345|1,876,569|
||Analysed
between|||||||
||Charitable
activities|||1,873,647|75,698|1,949,345|1,876,569|
|8|Auditor's
remuneration|||||||
||Fees payable to the Charity's|auditor and associates:||||2022|2021|
||||||||8|
||Audit ofthe Charity's
annual accounts|||||26,790|13,175|
||Non-audit services|||||||
||Other assurance services|||||925|2,350|
##
##
|The average|monthly
number ofemployees
during
the|year was:||
|---|---|---|---|
|||2022|2021|
|||Number|Number|
|Care||432|462|
|Finance and|adminstration|11|11|
|Total||443|473|
|Employment|costs|2022|2021|
|||E|E|
|Wages and salaries||9,624,796|10,189,597|
|Social security costs||784,860|786,214|
|Other pension|costs|701,777|656,711|
|||11,111,433|11,632,522|
|The number ofemployees
whose annual
remuneration
is as follows:|was more than F60,000||
|---|---|---|
||2022|2021|
||Number|Number|
|E'80,001 - F90,000|||
|F101,001 - F110,000|||
|F120,001 - E130,000|||
##
##
|||2022|2021|
|---|---|---|---|
|Financing|costs|158,413|159,671|
|||158,413|159,671|
##
##
##
|Tangible fix|ed asset|s||||
|---|---|---|---|---|---|
||||Land and|Long|Total|
||||buildings|Leasehold||
||||'Z|8||
|Cost||||||
|At 1 April 2021|||9,482,385||9,482,385|
|Additions|||37,700||37,700|
|Transfer to long leasehold|||(550,140)|550,140||
|At 31 March|2022||8,969,945|550,140|9,520,085|
|Depreciation|and impairment|||||
|Depreciation|charged|in the year|142,801||142,801|
|Revaluation|||(142,801)||(142,801)|
|Carrying
amount||||||
|At 31 March|2022||8,969,945|550,140|9,520,085|
|At 31 March|2021||9,482,385||9,482,385|
##
|||||||2022|2021|
|---|---|---|---|---|---|---|---|
||Amounts
falling|||due within one year:|||8|
||Trade debtors|||||1,616,254|1,791,570|
||Other debtors|||||107,910|649,092|
||Prepayments||and|accrued income||29,380|160,006|
|||||||1,753,544|2,600,668|
|15|Loans|and overdrafts||||||
|||||||2022|2021|
|||||||6|8|
||Bank loans|||||3,485,610|3,646,710|
||Payable|within|one year|||2,833,104|2,844,982|
||Payable|afier|one|year||652,506|801,728|
||Amounts|included||above which|fall due after five years:|||
||Payable|by instalments|||||66,667|
##
##
|Creditors: amounts
falling due within one year||||
|---|---|---|---|
|||2022|2021|
||Notes|6|6|
|Bankloans|15|2,833,104|2,844,982|
|Other taxation and social security||217,086|223,834|
|Deferred
income|18|222,566|566,473|
|Trade creditors||49,429|125,035|
|Other creditors||26,885|2,593|
|Accruals||645,014|507,826|
|||3,994,084|4,270,743|
##
|17|Creditors: amounts|Creditors: amounts|falling|due after more than one|year||||
|---|---|---|---|---|---|---|---|---|
||||||||2022|2021|
|||||||Notes|6|8|
||Bank loans||||||652,506|801,728|
|18|Deferred income||||||||
||||||||2022|2021|
||||||||B||
||Arising from Supported||Living & Residential||||||
||Care||||||222,566|566,473|
||Deferred income is|included||in the financial statements|as follows:||||
||||||||2022|2021|
||Deferred income is|included||within:|||||
||Current
liabilities||||||222,566|566,473|
||Movements
in the year:||||||||
||Deferred income at 1April 2021
Released from previous
periods
Resources deferred
in the year||||||566,473
(566,473)
222,566|722,559
(722,559)
566,473|
||Deferred income at|31|March|2022|||222,566|566,473|
##
##
|Key assumptions|Key assumptions||||||||
|---|---|---|---|---|---|---|---|---|
||||||||2022|2021|
||||||||'/o|'/o|
|Discount rate|||||||2.7|2|
|Expected rate|ofincrease ofpensions||||in payment||3.2|2.8|
|Expected rate|ofsalary increases||||||4.2|3.8|
|Mortality assumptions|||||||||
|The assumed|life expectations||on|retirement||at age 65are:|||
||||||||2022|2021|
||||||||Years|Yearn|
|Retiring today|||||||||
|- Males|||||||21.2|21.6|
|- Females|||||||23.6|23.9|
|Retiring
in 20years|||||||||
|- Males|||||||22.9|23.4|
|-Females|||||||25.4|25.8|
|Amounts
recognised||in the profit and loss account|||||||
||||||||2022|2021|
|||||||||6|
|Current service|cost||||||370,000|345,000|
|Net interest on|defined benefit||liability/(asset)||||87,000|48,000|
|Total costs|||||||457,000|393,000|
|Amounts
taken|to other comprehensive||||income:||||
||||||||2022|2021|
|||||||||6|
|Actual return
on scheme assets|||||||(1,835,000)|(3,649,000)|
|Less: calculated|interest element||||||445,000|445,000|
|Return on scheme assets excluding||||interest||income|(1,390,000)|(3,204,000)|
|Actuarial changes related to obligations|||||||(1,427,000)|5,393,000|
##
##
|Retirement
benefit schemes|||||||||(Continued)|
|---|---|---|---|---|---|---|---|---|---|
|The
amounts
included
in
the
obligations
in respect ofdefined|balance
sheet
benefit plans are|||arising
from
as follows:||the|Charity's|||
|||||||||2022f|2021
f|
|Present value ofdefined benefit
Fair value ofplan assets|obligations|||||||25,566,000
(23,953,000)|26,730,000
(22,460,000)|
|Deficit in scheme||||||||1,613,000|4,270,000|
|Movements
in the present value ofdefined benefit||||obligations:||||||
||||||||||2022|
|Liabilities at 1 April 2021
Liabilities assumed
in a business
combination
Current service cost
Benefits paid
Contributions
from scheme members
Actuarial gains and losses
Interest cost|||||||||26,730,000
(140,000)
370,000
(549,000)
50,000
(1,427,000)
532,000|
|At 31 March 2022|||||||||25,566,000|
|The defined benefit obligations
arise from||plans funded as|||follows:|||||
||||||||||2022f|
|Wholly unfunded
obligations
Wholly or partly funded
obligations|||||||||94,000
25,472,000|
||||||||||25,566,000|
|Movements
in the fair value ofplan|assets:|||||||||
||||||||||2022f|
|Fair value ofassets at 1 April 2021
Interest income
Return
on plan assets (excluding
amounts
Benefits paid
Contributions
by the employer
Contributions
by scheme members||included||in net interest)|||||22,460,000
445,000
1,390,000
(549,000)
150,000
57,000|
|At 31 March 2022|||||||||23,953,000|
##
##
|The fair value of plan assets at the reporting
perio|d end was as follows:||
|---|---|---|
|||Restated|
||2022|2021|
||6|6|
|Equity instruments|16,048,510|14,823,600|
|Property
Bonds
Cash|1,676,710
5,269,660
958,120|1,572,200
4,716,600
1,347,600|
||23,953,000|22,460,000|
##
|||||Movement||Movement||
|---|---|---|---|---|---|---|---|
|||||in funds||in funds||
|||1|Balance at
April 2020as|Incoming
resources|Balance at
1April 2021|Incoming
resources|Balance at
31 March 2022|
||||mstated|||||
|Alsop|House||373,393||373,393||373,393|
##
|Analysis of|net assets|between funds||||||
|---|---|---|---|---|---|---|---|
|||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|
|||funds|funds||funds|funds||
|||2022
f|2022
6|2022
6|2021
6|2021|2021|
|Fund balances at 31||||||||
|March 2022|are|||||||
|represented|by:|||||||
|Tangible assets
Current
assets/(liabilities)||9,146,692
380,051|373,393|9,520,085
380,051|9,108,992
341,498|373,393|9,482,385
341,498|
|Long term liabilities
Provisionsand||(652,506)||(652,506)|(801,728)||(801,728)|
|pensions||(1,613,000)||(1,613,000)|(4,270,000)||(4,270,000)|
|||7,261,237|373,393|7,634,630|4,378,762|373,393|4,752,155|
##
||2022|2021|
|---|---|---|
|||8|
|Within one year
Between two and five years
In over five years|1,223,892
4,140,122
15,229,470|1,227,332
4,334,596
16,163,589|
||20,593,484|21,725,517|
##
|2022|2021|
|---|---|
||6|
|236,950|228,369|
##
##
##
##
##
|Cash generated
from operations|||2022|2021|
|---|---|---|---|---|
||||8|f|
|Deficit for the year|||(74,525)|(84,253)|
|Adjustments
for.|||||
|Investment
income recognised
in statement
offinancial activities
Gain on disposal oftangible
fixed assets
Difference between
pension charge and cash contributions|||(304)
300,000|(4,504)
192,000|
|Movements
in working capital:|||||
|Decrease/(increase)
in debtors
Increase
in creditors
(Decrease)
in deferred
income|||847,124
79,126
(343,907)|(672,297)
35,755
(156,086)|
|Cash generated
from/(absorbed|by) operations||807,514|(689,385)|