##
|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|
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||||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|
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||||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|
|7|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|auditor and associates:|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)|