2023-03-31-accounts - The Sandwell Community Caring Trust

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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 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			1-6
Statement ofTrustees'		responsibilities
Independent auditor's		report	8-10
Statement offinancial		activities
Balance sheet			12
Statement ofcash flows
Notes to the financial	statements		14-29

			Unrestricted	Restricted	Total	Total
			funds	funds
			2023	2023	2023	2022
		Notes			8	8
Igggme frggL.
Donations and legacies Charitable activities investments		3 4 5	35,854 14,198,034 4,080		35,854 14,198,034 4,080	477,336 13,517,169 304
Total income			14,237,968		14237968	13994809
Exp~ni~tur n:
Charitable activities		6	14,502,283		14,502,283	13,910,921
Amount paid to SMBC in Other	the year		450,000 174,127		450,000 174,127	158,413
Total resources expended			15,126,410		15,126,410	14,069,334
Net expenditure for the	year/
Net outgoing resources			(888,442)		(888,442)	(74,525)
Other recognised gains	and losses
Actuarial gain on defined	benefit pension schemes		1,824,000		1,824,000	2,957,000
Net movement in funds			935,558		935,558	2,882,475
Fund balances at 1 April 2022			7,261,237	373,393	7,634,630	4,752,155
Fund balances at 31 March 2023			8,196,795	373,393	8,570,188	7,634,630

					2023	2022
				Notes	6	6
Fixed assets
Tangible assets				13	9,520,085	9,520,085
Current assets
Debtors Cash st bank and in	hand				2,063,734 1,313,857	1,753,544 2,620,591
Creditors: amounts	faging due within				3,377,591	4,374,135
one year					(4,119,154)	(3,994,084)
Net current (llablgtles)/assets					(741,563)	380,051
Total assets less current		liabilities			8,778,522	9,900,136
Creditors: amounts	falling due		after
more than one year				17	(208,334)	(652,506)
Net assets excluding	pension		liability		8,570,188	9,247,630
Defined benefit pension		liability				(1,613,000)
Net assets					8,570,188	7,634,630
Income funds
Restricted funds Unrasbicted funds				20	373,393 8,196,795	373,393 7,281,237
					8.570,188	7,634,630

							2023	2022
						Notes	6
Cash flows from operating			activities
Cash (absorbed by)/generated				from		25
operations							(1,051,271)		807,514
Investing	activities
Purchase	oftangible fixed	assets						(37,700)
Investment	income received						4,080	304
Net cash	generated from/(used				in)
investing	activities						4,080		(37,396)
Financing	activities
Repayment	ofbank loans						(259,543)	(161,100)
Net cash	used in financing		activities				(259,543)		(161,100)
Net (decrease)/increase		in	cash		and	cash
equivalents							(1,306,734)		609,018
Cash and	cash equivalents		at beginning			ofyear	2,620,591		2,011,573
Cash and	cash equivalents		at	end of		year	1,313,857		2,620,591

			Unrestricted	Unrestricted
			funds	funds
			2023	2022
			6	6
Donations	and gifts		24,000
Covid-19	government	support	11,854	477,336
			35,854	477,336

Residential	Residential
and	and
Daycare	Daycare
services	services
2023	2022
6	6
14,198,034	13,517,169

Unrestricted	Unrestricted
funds	funds
2023	2022
6
4,080	304

		Residential	Residential
		and	and
		Daycare	Daycare
		services	services
		2023	2022
		6	6
Staff costs Heat and light		9,986,122 164,295	9,976,243 141,700
Rent, rates and insurance		1,044,938	1,041,390
Telecommunications Other staff costs		10,231 44,614	4,760 35,547
Motor and travel costs		92,828	23,495
Repairs and renewals		544,673	374,972
Cleaning, waste and	pest control	138,756	106,496
Other office costs		84,127	73,517
Printing, postage and Provisions	stationery	5,582 250,494	6,163 177,293
		12,366,660	11,961,576
Share ofsupport costs (see note 7) Share ofgovernance costs (see note 7)		2,070,777 64,846	1,873,647 75,698
		14,502,283	13,910,921

Support costs
			Support	Governance	2023	2022
			costs	costs
			6
Staff costs			1,158,204		1,158,204	1,135,190
Heat and light			8,786		8,786	23,921
Rent, rates and insurance			325,685		325,685	161,674
Telecommunications			39,570		39,570	30,684
Other staff costs			172,990		172,990	90,448
Motor and travel			45,062		45,062	64,784
Repairs, renewals	and equipment	rental	110,700		110,700	116,049
Cleaning waste and pest control			1,712		1,712	13,882
Other office costs and sessionals			177,578		177,578	206,099
Printing, postage and stationery			29,971		29,971	30,354
Provisions			519		519	562
Audit fees				47,880	47,880	28,338
Legal and professional				16,966	16,966	47,360
			2,070,777	64,846	2,135,623	1,949,345
Analysed between
Charitable activities			2,070,777	64,846	2,135,623	1,949,345

Fees payable tothe	Charity's	2023	2022
		6
Audit ofthe Charity's	annual accounts	32,880	26,790
Non-audit services
Other assurance services		600	925
All other non-audit services		15,000
Total non-audit fees		15,600	925

The average	monthly number ofemployees during the	year was:
		2023	2022
		Number	Number
Care		448	432
Finance and	adminstration	13	11
Total		461	443
Employment	costs	2023	2022
		6	6
Wages and salaries		9,678,214	9,624,796
Social security costs		845,978	784,860
Other pension	costs	620,134	701,777
		11,144,326	11,111,433

The number ofemployees whose annual remuneration isas follows:	was more than F60,000
	2023	2022
	Number	Number
670,001 - F80,000
Et20,001 - F130,000

		2023	2022
Financing	costs	174,127	158,413
		174,127	158,413

Tangible fix	ed asset	s
			Land and	Long	Total
			buildingsf	Leasehold 5
Cost
At 1 April 2022			8,969,945	550,140	9,520,085
At 31 March	2023		8,969,945	550,140	9,520,085
Depreciation	charged	in the year	142,801		142,801
Revaluation			(142,801)		(142,801)
Carrying amount
At 31 March	2023		8,969,945	550,140	9,520,085
At 31 March	2022		8,969,945	550,140	9,520,085

Debtors
		2023	2022
Amounts falling due within one year:		8
Trade debtors		1,874,442	1,616,254
Other debtors		114,236	107,910
Prepayments	and accrued income	75,056	29,380
		2,063,734	1,753,544

Loans and overdrafbt
	2023	2022
		8
Bank loans	3,226,067	3,485,610
Payable within one year	3,017,733	2,833,104
Payable after one year	208,334	652,506

18	Credi	tors: amounts	f	alling due within one year
						2023	2022
					Notes	8
	Bank	loans			15	3,017,733	2,833,104
	Other	taxation and social security				200,747	217,086
	Deferred income				18	186,223	222,566
	Trade	creditors				162,895	49,429
	Other	creditors				24,704	26,885
	Accruals and deferred			income		526,852	645,014
						4,119,154	3,994,084
17	Creditors: amounts		falling due after more than one year
						2023	2022
					Notes		6
	Bank	loans			15	208,334	652,506
18	Deferred income
						2023	2022
						6	6
	Arising	from Supported		Living & Residential
	Care					186,223	222,566

Dfdi
eerre ncome				(Continued)
			2023	2022
			E	E
Deferred income is	included	within:
Current liabilities			186,223	222,566
Movements in the year:
Deferred income at	1 April 2022		222,566	586,473
Released from previous periods			(222,566)	(566,473)
Resources deferred	in the year		186,223	222,566
Deferred income at	31 March	2023	186,223	222,566

Key assumptions	Key assumptions
								2023	2022
									'lo
Discount rate								4.75	2.7
Expected rate	ofincrease ofpensions					in payment		3.0	3.2
Expected rate	ofsalary		increases					4.0	4.2
Mortality assumptions
The assumed	life expectations			on	retirement		at age 65are:
								2023	2022
								Years	Years
Retiring today
- Males								21.7	21.2
- Females								22.7	23.6
Retiring in 20years
-Males								20.0	22.9
-Females								24.9	25.4
Amounts recognised		in	the profit and loss account:
								2023	2022
								2	6
Current service	cost							315,000	370,000
Net interest on	defined		benefit	liability/(asset)				45,000	87,000
Total costs								360,000	457,000
Amounts taken	to other		comprehensive			income:
								2023	2022
								6	6
Actual return on scheme			assets					129,000	(1,835,000)
Less: calculated	interest		element					641,000	445,000
Return on scheme assets excluding					interest		income	770,000	(1 390000)
Actuarial changes related to obligations								(8,822,000)	(1,427,000)

obligations in respect ofdefin	ed	ben	efit p	lans are	as follows:
						2023f	2022 6
Present value ofdefined benefit obligations						23,793,000	25,566,000
Fair value of plan assets						(23,793,000)	(23,953,000)
Deficit in scheme							1,613,000
Movements in the present value ofdeiined				benefit	obligations:
							2023
Liabilities at 1 April 2022							25,566,000
Current service cost							315,000
Benefits paid							(603,000)
Contributions from scheme members							49,000
Actuarial gains and losses							(8,822,000)
Interest cost							686,000
Adjustment for unrecognised	surplus		in scheme				6,602,000
At 31 March 2023							23,793,000
The defined benefit obligations		arise	from	plans funded as follows:
							2023
							8
Wholly unfunded obligations							90,000
Wholly or partly funded obligations							17,101,000
							23,793,000
Movements in the fair value of plan assets:
							2023
							8
Fair value ofassets at 1 April 2022							23,953,000
interest income							641,000
Return on plan assets (excluding		amounts		included	in net interest)		(770,000)
Benefits paid							(603,000)
Contributions by the employer							142,000
Contributions by scheme members							56,000
Other							374,000
At 31 March 2023							23,793,000

The fair value of plan assets at the reporting perio	d end was as follows:
	2023	2022
	6
Equity instruments	16,179,240	16,048,510
Property Bonds	1,665,510 5,234,460	1,676,710 5,269,660
Cash	713,790	958,120
	23,793,000	23,953,000

				Movement		Movement
				in funds		in funds
		1	Balance at April 2021 f	Incoming resources 6	Balance at 1 April 2022 6	Incoming resources 8	Balance at 31 March 2023 f
Alsop	House		373,393		373,393		373,393

Analysis of	net assets	between funds
		Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
		funds	funds		funds	funds
		2023	2023	2023	2022	2022	2022
		6	6	6	6	8
Fund balances at 31
March 2023	are
represented	by:
Tangible assets		9,146,692	373,393	9,520,085	9,146,692	373,393	9,520,085
Current assets/(liabilities)		(741,563)	-	(741,563)	380,051	-	380,051
Long term liabilities Provisionsand		(208,334)		(208,334)	(652,506)		(652,506)
pensions					(1,613,000)		(1,613,000)
		8,196,795	373,393	8,570,188	7,261,237	373,393	7,634,630

	2023	2022
	8	8
Within one year Between two and five years	1,305,111 4,402,172	1,223,892 4,140,122
In over five years	15,942,782	15,229,470
	21,650,065	20,593,484

			2023	2022
			E	8
Aggregate	compensation		244,105	236,950
Transactions		with related parties

25	Cash generated from operations	Cash generated from operations		2023	2022
					6
	Surplus for the year			(888,442)	(74,525)
	Adjustments for:
	Investment income recognised in statement offinancial activities Difference between pension charge and cash contributions			(4,080) 211,000	(304) 300,000
	Movements in working capital:
	(Increase)/decrease in debtors (Decrease)/increase in creditors (Decrease) in deferred income			(310,190) (23,216) (36,343)	847,124 79,126 (343,907)
	Cash (absorbed by)/generated	from operations		(1,051,271)	807,514
26	Analysis ofchanges in net (debt)/funds
			At 1April 2022	Cash fiowsAt	31 INarch 2023
			6	f	6
	Cash at bank and in hand		2,620,591	(1,306,734)	1,313,857
	Loans falling due within one year Loans falling due after more than one year		(2,833,104) (652,506)	(184,629) 444,172	(3,017,733) (208,334)
			(865,019)	(1,047,191)	(1,912,210)