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2022-03-31-accounts

Company Number 4228432

THE WILBERFORCE TRUST

A company limited by guarantee and a registered charity number 1087065

ANNUAL REPORT AND FINANCIAL STATEMENTS

for the year ended 31 March 2022

HPH Chartered Accountants 54 Bootham York YO30 7XZ

THE WILBERFORCE TRUST

CONTENTS

Page
Chairmans Statement 1
Directors' and Trustees' Annual Report 2 - 11
Independent Auditor's Report 12 - 14
Statement of Financial Activities 14
Balance Sheet 15
Cash Flow Statement 16
Notes to the Financial Statements 17 - 26

THE WILBERFORCE TRUST CHAIRMANS REPORT FOR THE YEAR ENDED 31 MARCH 2022

MESSAGE FROM THE CHAIRMAN

Chairman’s statement 2021-2022

Following one of our toughest years managing through a global pandemic, we have emerged this year showing resilience and a stronger belief in what we do as a charity. It has really shown us the positive impact the Wilberforce Trust has on peoples’ lives.

We strengthened our relationships with our commissioners in both the local authority and the NHS in delivering front line enhanced services both for Wilberforce Tenants and across the community of York as a whole and parts of Yorkshire. It is our hope that these strong relationships will continue to tackle the diverse requirements of clients with a need for professional, caring, creative services that the Trust provides. We partnered with other local organisations and sponsors to ensure that our reach was extended far and wide.

During all this changing landscape, our major project of a new build for housing, care and all other services including HQ continued. As with any major undertaking, the £8m project faced many obstacles. However, these along the way, were overcome bringing it near for completion in early July 2022. The Trust is working with the Local Authorities, Continuing Healthcare, tenants, families, and carers to prepare for smooth transition into their new apartments.

The primary focus for me as Chairman, along with my Trustee colleagues, has been to support our CEO and Executive team during all of these challenges, providing help and perspective in the most pressurised, relentless of times.

I want to put on record my thanks to my Trustee Colleagues for their continued hard work and commitment.

The Board of Trustees is proud to have an outstanding team of people working to ensure the lives of the people we support are both happy and fulfilled. We are exceptionally grateful to Philippa Crowther our CEO who has led our resilient team to deliver the services and support, whilst also keeping the Charity in an incredibly positive position for the future.

I look forward to welcoming everyone to Wilberforce House in late 2022.

Colin Aspinall

Chairman to The Board of Trustees

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THE WILBERFORCE TRUST

DIRECTORS’ AND TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2022

The Directors (who are also the Trustees of the Charity and whose details are shown in the legal and administrative information section of this report) are pleased to present their Annual Report together with the Financial Statements of the Charity for the year ended 31 March 2022.

The Financial Statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, 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 (FRS 102) (effective 1 January 2019).

The Charity is a Public Benefit Entity.

OBJECTS, VISION, AIM/ MISSION, STATEMENT OF PURPOSE OF THE CHARITY

The Charity’s Objects are:

VISION

THE TRUSTS VISION is to see a world in which people with sight loss, including those with sensory loss and other disabilities, are truly integrated in society with equal opportunities in all aspects of life, and to know that our passion and commitment have been influential in bringing this about.

AIM / MISSION

THE TRUST AIMS AND MISSION is to be a leading provider of high-quality accommodation, professional support, care, specialist equipment, information, and guidance to people with sight and sensory loss including those with other disabilities. To encourage and facilitate the development of services on a local, regional, and national basis by being a model of good practice. Our aim is to do this in a way which gives people choices and enhances the quality of life of those with whom we work.

STATEMENT OF PURPOSE

Empowering all people, with sight loss including those with other sensory and with other disabilities to gain confidence and independence.

How we do this:

We set strategy over a five - year period, with annual reviews. The review will look at our achievements and outcomes of our work over the previous twelve months. The review looks at the success of each key activity and the benefits they have brought to those groups of people we are set up to help. The review also ensures our aims, objectives and activities remains focused on our stated purpose. The Trustees consider how planned activities will contribute to the aims and objectives we have set ourselves.

Housing

Providing a safe supportive enabling environment for people with sight and hearing impairment including those with other disabilities to live with confidence and as independently as they are able. We will do this by ensuring the highest standard of accommodation with technological advancements and practical enabling facilities and equipment.

Support

Championing, pushing boundaries and delivering ambitious support programmes and services with and for people with sight and hearing impairment including those with other disabilities, by ensuring they have the opportunities and environments to realise and achieve their goals. We will do this with professional highly trained support teams. We will champion activities for learning, fun and inclusion for children and adults and families.

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THE WILBERFORCE TRUST

DIRECTORS’ AND TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2022

OUR PUBLIC BENEFIT

Empowering people

We are committed to helping those who have visual / hearing impairment including those with other disabilities to gain confidence and as much independence as they are able. Opening opportunities and encouraging people to achieve the aspirations they have for themselves and others.

Contributing to our society

We contribute to the York economy by providing employment for 100+ people and committed to improving people’s knowledge of the care needs of disabled people through training and education. We have an equal opportunities policy for employment. Any surplus funds are invested back into providing services and activities to support our purpose, so we can help people at different times of their life to get the support they need at that time. We work to be a model of good practice to facilitate the development of services on a local, regional, and national basis.

Customer needs

Whilst working with Healthcare and Local Authority agencies to deliver statutory services we enhance these by addressing people’s needs that are not being met within those agencies to meet the many needs of customers. This includes practical and emotional support for adults, children, families, and supporters. Helping to maintain an independent fulfilled life as much as possible. Having an ability to reach those people who require a holistic approach to their needs. Showing added value to partnership contracts.

The Environment

Sustainability of our environment is important to us. We are taking steps to minimise our carbon footprint and increasing our recycling and waste management overall. Energy efficiencies and technology form part of our green efficiencies.

The Trustees confirm that they have given due consideration to the Charity Commission’s published guidance on the Public Benefit requirement under the Charities Act 2011.

CEO REPORT ON 2021- 2022 - Progress on our Objectives

Customers

“We strive to support any person with sight or hearing loss including those with other disabilities and their families through all stages of their lives with meeting individual’s goals and ambitions and needs. We aim to improve upon our services and the support we offer and reach as many people as we can”.

The organisation emerged from Covid Lockdown in a year that will be remembered for the continued challenge of Covid 19. We can look back and be proud of the year delivering over 160,000 hours of care to tenants in Wilberforce supported living schemes. Our complex needs services did not emerge from any lockdown in the year, all enjoyed a range of activities within the houses. The Local Authorities and Continuing Healthcare partnered with Wilberforce House for care packages. The Yorsensory services ensured face to face services were introduced during the year after the service had been only delivering face to face on an emergency basis. Immediately restrictions were lifted, albeit slowly, the team immediately reinstated all front line and outreach services. The Club Wilber although unable to meet face to face continued with innovative on- line, video sessions and fun packs, whilst increasing the reach and business sponsorship. The community eyedrops Wilberforce/ NHS eyedrop service extended both reach and services.

The development of Wilberforce House our £8m major development progressed, with plans for transition in July 2022, in order to be able to support our customers with individual tailor- made services to achieve their goals and ambitions.

Quality

PPE continued to be used in all services.

“As we are a provider of Adult and Social care, our aim is to deliver the highest level of quality support and care and safety.

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THE WILBERFORCE TRUST

DIRECTORS’ AND TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2022

To do this we ensure our staff are trained at a high- level including sight and hearing loss awareness and practical training. Our processes and procedures must meet or exceed those standards as set down by section 20 regulations of the Health and Social care Act. Our aspiration is to be the best, safest, most effective provider. A provider where, customers, families and carers feel confident to receive services from Wilberforce Trust. Our Quality Assurance is designed within the CQC, CYC, NYCC framework to support, planning delivery and monitoring along with continuous improvement of all support and care we provide. As a charity we put quality, safety, and our clients first in everything we do, and everything is measured and monitored against the following factors”:

Taking the health and safety, security and privacy, along with general well-being for all our clients is accepted in the organisation as a main priority. This reflected in all our policies and procedures and is demonstrated in our compliance with local authorities and national and national audit and inspection bodies. The Quality Assurance Committee meet on a quarterly basis to review the internal audit KPI’s and action plan accordingly. CQC have deferred site visits this year but have reviewed services at distance and have continued to rate all our services as ‘good’ rating. We have an embedded complaints process and encourage people to feedback all comments. The tenants have a tenant’s forum in order to feedback on all services. We have systems in place to ensure privacy of documentation and computer data through our GDPR processes including policies for fundraising and finance. Health and Safety measures on all facilities of the Wilberforce Trust and reporting is delivered through the facilities team to the Quality Assurance Committee and subsequently to The Board of Trustees within an overall Governance Report.

Supported Independent Living

“The Houses over the year had essential maintenance where and when needed over the lockdown periods. Once the lockdown eased all planned preventative maintenance was reintroduced.

The new Wilberforce House, which will give an additional 25% continued and transition planning for current tenants whilst assessing was on hold during the worst part of the pandemic until it was announced that building and construction community could recommence. Slight delays for this were incurred with other delays being a land issue on easements with neighbours. However, work to move to complete Wilberforce House is progressing. It is believed that the build will be completed late 2022.

Our People

“Our success is dependent on our people’s skills, passion and commitment of our people. Our objective is to build an environment where everyone can thrive and be recognised for the role, they perform for The Wilberforce Trust and its customers. We introduced our values award to ensure we recognise every individual for who and what they are achieving with and for our customers. We celebrate their achievements and look to find ways they can achieve their own goals and fulfil their own potential”.

We employ people with a diverse range of skills to deliver and support our services. We focus on keeping our staff safe, well supported and their general well-being. We recognised that it continued to be difficult for everyone with Covid-19 still a major issue. We managed as a charity not to have to make any redundancies or furlough of any staff. People adapted and supported each other, sometimes supporting roles in differing teams. Benefits and staff reward was still accessed and we took a decision to reward their great efforts despite the economic difficult times. We ensured access to our in- house trained mental health first aiders and counselling services when needed. It was a difficult recruitment year and we actively encouraged applications from the local community, from all backgrounds and ethnicities. Team meetings though video took place, and we continued doing a get together for everyone virtually through quiz and music nights. Senior Meetings continued to be held virtually and all information cascaded to all staff. Virtual ‘coffee and cake’ with the CEO was open to all staff on a monthly basis with good attendance from across the organisation and teams. This allowed feedback opportunities for all staff. Training continued through our e-learning programme with 85% of all training completed in the year and only necessary face to face training delayed.

Trustees

Trustees receive induction as with all staff and volunteers. They receive information on a regular basis, and many visit the sites within each quarter to attend sub committees or events. Conflicts of interest are asked to be declared at all Board meetings and subcommittee meetings. Any declarations are entered onto a conflict of interests register. Details of any expenses and related party transactions are noted in the financial accounts.

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THE WILBERFORCE TRUST

DIRECTORS’ AND TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2022

Volunteers

Our volunteers come in all guises from befrienders, gardeners, fundraisers, drivers, sensory session helpers, quiz masters, music maestros, pen pals and so many more. They kept in touch virtually where possible. They are the quiet unseen heroes sometimes but never undervalued by us. We continue to welcome their expertise and help in everything they do for the people we and they support. In the coming year we hope to be able to fully re-engage our supporters and welcome them back fully.

Financial Sustainability

“ A challenging year across Adult and Social care. As a charity all our income is invested back into delivering our purpose so we can help more people to achieve their goals and ambitions with a visual or hearing impairment. We look at ways to expand our ability to reach those who are in need and those in need of more than the statutory services can deliver. All services are scrutinised for a financial return or break even. We have a clear road map on cashflow and servicing of our debt through our banks.

Through tight controls operational cash flow was positive with good investment return. Major funders remain as City of York Council, North Yorkshire Council, Housing benefit agency, Continuing Healthcare. Negotiated rates for care, support and rents remain high on the agenda each year. Our concentration has been reduction to voids and agency spend and the continued work to secure placements for the new build. Each year we look to enhance revenues through other services from the other departments. Return on investment in fundraising is measured each year.

Financial compliance, fundraising compliance and GDPR are all measured and reported through the Finance and Personnel Committee and subsequently the Board of Trustees.

Fundraising

It would be remiss of me not to mention all the supporters and donors, who on a regular basis give through individual donations and supporting events and campaigns. Thanks goes to all of you who support us however small or large, everything makes a huge difference. The Charity will need to regroup and reinforce its strategy as fundraising has been exceptionally hard-hit during lockdown periods. Most activities had to close.

Equality, Diversity, and Inclusion

We embarked last year on reviewing our internal policies and procedures in all areas of the Charity. It was a positive decision to commence work to create a diverse and positive change within our objectives, from Trustee, staff, and clients. Setting ourselves targets on our diversity from bottom up and top down including our Trustees. We need to continue with this work following a refocus after the major part of the pandemic.

Environmental Sustainability

“The Wilberforce Trust takes environmental sustainability seriously from carbon emissions, global warming, landfill and climate change. We believe that there are things that we can do to ensure we play our part in this serious issue”.

As with all issues including environmental ones’ we encourage our people to put forward their ideas and comments on where we could improve.

Philippa Crowther CEO

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THE WILBERFORCE TRUST

DIRECTORS’ AND TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2022

REPORT OF THE BOARD OF TRUSTEES

Today more than 2 million people are living with sight loss in the UK, of these around 340,000 are registered as blind and partially sighted. The estimated number of people with sight loss is likely to rise to over 4 million by 2050.Source RNIB.

Today more than 12 million people are affected with hearing loss greater than 25 dBHL across the UK, by 2035 this is estimated to rise to 14.2 Million. Source RNID.

The Wilberforce Trust activities support the people of the York and Yorkshire areas, who find themselves with sight impairment, including hearing and with other disabilities.

The Wilberforce Trust worked front and centre during the pandemic and now continues to deliver front line care for tenants, clients, the local authorities, and the NHS community. The community emerged from a lockdown world, and we needed renewed energy, knowing how much we were valued during those days of lockdown, and how valuable our professional and caring services have become to not only our local community but to other communities across Yorkshire.

There has been a reported rising number of people requiring support. The pressures put on the workforce in Adult and Social care has been widely reported and continues to be a pressure point for many organisations. The Wilberforce Trust this year awarded above average pay rises with additional benefits supporting staff with welfare support in private healthcare, award schemes, access to mental health first aiders and counselling.

The Wilberforce Trust is the largest local charity for visually impaired people including those with hearing impairment and other disabilities. For the past 189 years our team of experts has been working together to be an enabler for people living with sight loss and other disabilities. We support people to gain confidence and live as independently as they can and feel able to contribute positively to our communities and turn their own ambitions into reality. Whilst the last year has continued to be a challenge coming out of Covid lockdown, the Trust continued to deliver much needed services and keeping its course for the future needs. We put our customers at the heart of everything we do.

As a charity our income is invested into the delivery of our purpose, through day to day services. Introducing new and innovative aids and services to address areas where needs are not adequately met.

Our Services:

Housing, Care and Support, Yorsensory Assessment and Rehabilitation, Advice and Guidance Centre, Technology and Equipment, Club Wilber Children’s Activities, Living and Learning Activities for Adults.

The full report on the progress of our objectives is detailed in the CEO report.

Our services remained focused whilst ensuring individuals needs remained at the heart of supporting people.

Affordable housing with support and care continues to be identified as a problem within York, the extra managed care schemes available mainly accommodate the elderly. There had been no specific housing schemes taking into consideration visual impairment with other disabilities and we are pleased to report that The Wilberforce Trust pushed on this year with building our new Wilberforce House. 30 purpose-built apartments with a living and learning activities areas and community café. The plans are to open the apartments in July 2022 with the centre following in October 2022.

Club Wilber now in its third year was designed specifically to include activities for children with siblings and families. Yorsensory team continued to support the community with a full face to face service from assessment to rehabilitation, adaptations, technology and tailor -made individual needs services.

Fundraising was exceptional slow to recover in part.

The NHS Engagement was heightened during the pandemic and coming out of lockdown continued and extended with the eyedrops and other services people prior supporting the valuable NHS resource of community nursing.

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THE WILBERFORCE TRUST

DIRECTORS’ AND TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2022

As part of the ongoing strategy, The Wilberforce Trust Trustees and Executives have been working hard to adapt and provide meaningful services and have continued to push on this year with the new build and address the issues through determination to adapt to an emerging community from lockdown.

Quality and compliant services and safety of all is centric to the organisation. The Good CQC rating for our services was achieved.

The Board of Trustees remains committed to continuous improvement and further reach in the coming years and continued with its strategic direction during the year, whilst adapting to the needs as presented for people with visual and hearing impairment including those with other disabilities.

STRUCTURE GOVERNANCE AND MANAGEMENT

The names of the current Trustees are listed. The organisation is a not-for-profit charity and any surplus generated is used for the objectives of the charity. No Trustee is appointed to any office of the charity paid by salary or fees.

The Charity has a Chief Executive, Finance Director and Operations Director. The service managers run the day- today operations, including business support areas in Finance, HR, Fundraising, Property and IT, Housing, Care, Compliance and Training, and other services under the YORSENSORY banner i.e., rehabilitation, technology and equipment for disabled users, and other activities for learning and fun for adults and children supported by services personnel. The organisation has a fundraising department and a volunteer department.

The Chairman meets the Chief Executive monthly, to review the operations and financial position of the Charity. The Board of Trustees’ meet as a full board quarterly.

Two subcommittees meet on a quarterly basis and report and make recommendations to the full Board of Trustees meeting

Sub- Committees:

Composition:

We have a Trustee who represents and reports on the interest of Service Users.

The Charity aims to pay salaries which are fair, competitive with the charity sector and proportionate to the complexity of each role. There is an established pay policy and pay scale, detailed job descriptions and person specifications for each role, as well as a professional development review process. The Key management personnel pay follows the same process as all other staff members.

SELECTION, RECRUITMENT, AND INDUCTION OF NEW TRUSTEES

Trustees have developed a list of skills/experience they would like to have represented on the Trustee Boards and SubCommittees.

When a vacancy occurs or is due to occur, Trustees seek through differing media, to identify potential recruits who will fill any skills deficit deemed to exist.

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THE WILBERFORCE TRUST

DIRECTORS’ AND TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2022

At present Trustees are carefully selected by application from advertising, a recruitment section on the website and recommendation. They are asked to formally apply with a CV or career synopsis, formally interviewed by the Chief Executive and a second interview by the Chairman and Deputy Chairman or another Trustee. Candidates are assessed as to their suitability to act as a Trustee, whilst the organisation carries out the required checks. If the candidate is deemed suitable the Chairman will invite the candidate to attend a Board meeting to act as an observer, following the candidate’s expression of a willingness to wish to sit as a Trustee, the Chairman will formally propose them to the full board meeting to approve. On this approval they will then be invited to join the Board of Trustees and will be formally accepted at the following AGM.

Trustees may co-opt members for specific duties and periods onto the board, where full appointment as a Trustee is not appropriate.

New Trustees are offered induction, governance, risk, health & safety training, and further ongoing training in respect of their role. Certain training is given as mandatory in finance, governance, compliance, health and safety, fire and data protection and fundraising principles for charities. This also includes access to relevant papers and reports. Visits to The Wilberforce Trust premises and services are mandatory, introductions to Trust staff and service users, and meetings with the Trust Chairman and Chief Executive. A Trustee pack is given to all new Trustees, including all charity commission information, declaration of conflict and governance documentation. All Trustees, Executives and staff are DBS checked and only take up duties after clearance.

All Trustees are annually appraised, following the recommendations and guidance for Trustee appraisal. All Trustees have annual mandatory training in Governance.

INVESTMENT POLICY

Julius Baer manages the Trusts Investment portfolio and act as our Investment Advisers.

The Trust’s investment aims are:

The Trustees policy therefore is, on the advice of the Trust’s Investment Managers, to invest in an appropriate mix of real assets, i.e., equities, fixed interest, and monetary assets to achieve these aims. The Trustees avoid investing the fund in ways they believe would counter the Charity’s work. They work with their fund manager on the investment policy and review this regularly. The investment managers are required to present their reports bi – annually in order that the Trustees’ can monitor performance.

RESERVES POLICY

The Trustees continue to believe that a free reserve (excluding the Permanent Endowment) equivalent to two years cover of the Charity’s overhead provides adequate security for the Trust, protects its staff and the time it takes to rehouse and resettle tenants and care teams. This currently implies a reserve of approximately £1.07m. At present the level of free reserves are £1,828,327 which is the equivalent of 6 months total expenditure.

AUDITORS

Following review, HPH Auditors have expressed to remain as The Wilberforce Trust auditors and have been appointed by the Board of Trustees.

RISK MANAGEMENT POLICY

The potential risks faced by the Trust have been evaluated across the Charity by the Trustees and formally recorded. A risk register and conflict of interest register are working documents held and administered on the Trust Compliance ‘Radar system’. It is formally reviewed by the F&P Committee and highlighted to the Board of Trustees, (all of which have access to the Radar system), and data and actions approved at the AGM meeting each year, more frequently if it is deemed necessary.

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THE WILBERFORCE TRUST

DIRECTORS’ AND TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2022

The appropriate systems and procedures have been put into place to avoid and mitigate risks together with our systems and procedures to avoid or mitigate them. These are formally reviewed by the Trustees.

RISK MANAGEMENT FRS102

The Trustees have a risk management strategy which comprises:

The introduction of a new computerised administration compliance and risk system, with training for all staff and Trustee’s overview training was implemented in 2021/2022. We maintain effective internal controls, risk registers, compulsory safeguarding training and procedures, incident reporting, health & safety reporting. Fire safety audits in all premises and fire evacuation procedures and essential training. Appropriate Insurance cover.

We are externally audited annually by CQC, for regulatory care compliance and CHC, CYC and NYCC against quality standards for health and social care and our financial auditors HPH.

FUNDRAISING GOVERNANCE

The activities within fundraising and our fundraising policies are scrutinised each year by The Board of Trustees. All activities are conducted by employees or volunteers and no external agencies are retained to carry our duties on our behalf. We use several fundraising IT platforms, ‘Just Giving, Virgin Money Giving, and Local Giving’. The Trust abides by the key principles & behaviours as set by the fundraising regulators in that we are legal, honest, open, and respectful in our fundraising practices. Risk assessments are carried out for all events, for example, age of collectors for bucket collections, raffle tickets abide by gambling law. No fundraising complaints have been made during the financial year to the Charity.

SAFEGUARDING

Strict processes and procedures are in place to manage safeguarding. As a provider of Adult and Social Care, our aim is to deliver the highest level of quality support, care, and safety. To do this we ensure that our staff are trained at a high- level including sight and hearing loss. Our processes and procedures must meet or exceed those standards as set down by section 20 regulations of the Health and Social care Act. Our aspiration is to be the best, safest, most effective provider. Where customers, families and carers feel confident to receive services from The Wilberforce Trust.

Our Quality Assurance is designed within the CQC, CYC, NYCC frameworks to support, planning delivery and monitoring along with continuous improvement of all the support and care we provide. The Trust puts quality, safety, and our clients first in everything we do, and everything is measured and monitored against the standards as set down by external auditors, reviewed each quarter by the Compliance Committee.

FINANCIAL REPORT 2021-2022

The Trust continued with its financial management during the year. Operational income is contractual, investment dividends, fundraising and grants. The Trust has sufficient resources to be able to face the challenges ahead with confidence.

Operational income in the year £3.653m (2021: £3.497m), yielding a surplus on operations of £243k (2021: 341k with investment income contributing £125k (2021: £116k), £453k was added to reserves (2021: £969k) before recognition of gains in financial investments.

Operating costs, including funding activities, were £3.424m (2021: £3.156m)

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THE WILBERFORCE TRUST

DIRECTORS’ AND TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2022

When revalued for reporting purposes, our investment portfolio showed, in line with global stock market changes, an unrealised gain of £280k (2021: £1.119m).

Cashflow was once again positive at £363k from operations, which with financial investment returns of £125k supported capital expenditure on our new Tadcaster Road premises. Our existing revolving credit facility with the JB bank provided additional cash resources specifically for this project.

With The Tadcaster Road project coming to completion, our fundraising efforts in 2021/22 continued to be focused on activities.

LEGAL & ADMINISTRATIVE INFORMATION

CONSTITUTION

The Wilberforce Trust is a company limited by guarantee and a Registered Charity governed by its Memorandum and Articles of Association. The date of incorporation was 4[th] June 2001.

GOVERNANCE OF OTHER CHARITIES

Under an order from the Charity Commissioners dated 22[nd] August 2002 The Wilberforce Trust is the Trustee for the Wilberforce Home for the Blind. This fund is included in the financial statements of the Charity and is now fully incorporated into the Permanent Endowment Fund following the Charity Commissioners decision effective 4[th] March 2005.

DIRECTORS AND TRUSTEES

The directors of the charitable company (“the charity”) are its Trustees for the purpose of the Charity Law and throughout this report are collectively referred to as the Trustees.

Colin Aspinall (Chairman) Charles Anelay Stephen Cluderay Simon Cowell Susan Hawksworth Keith Larcum Anne Mwangi Eammon Dunne (Resigned on 30 May 2022) Keith Goodey (Resigned on 26 October 2021) Abbie Robinson (Appointed on 1 April 2021) (Resigned on 26 October 2021) PATRON: Dame Judi Dench. COMPANY SECRETARY: Philippa A Crowther SENIOR MANAGEMENT TEAM: Philippa Crowther - CEO Shaun Taylor - Finance Director Samantha Scholey - Operations Director COMPANY REGISTRATION NUMBER: 4228432 CHARITY REGISTRATION NUMBER: 1087065 PRINCIPAL OFFICE: Unit G12 IT Centre New office exp July 2022 Innovations Way Wilberforce House Heslington The Grove York York YO10 5NP YO24 1AN BANKERS: Barclays Bank plc Parliament Street York YO1 1XD

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THE WILBERFORCE TRUST

DIRECTORS’ AND TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2022

INVESTMENT ADVISERS:

Julius Baer The Platform New Station Street Leeds LS1 4JB

AUDITORS:

HPH Chartered Accountants 54 Bootham York YO30 7XZ

SOLICITORS: Harland & Co 18 St Saviourgate York YO1 8NP

Message from the Board of Trustees

Through the dedication and professionalism of our employees, The Wilberforce Trust, led by our Chief Executive Philippa Crowther, as per the report, continues to fulfil its objectives, to create choices and opportunities for people with sight loss, sensory loss and other disabilities to access the services they need to lead independent fulfilled lives.

The Trustees would like to place on record our gratitude for the contribution and commitment of our CEO, executive team, all our staff, and our volunteers throughout the most challenging of years.

STATEMENT OF TRUSTEES RESPONSIBILITIES

The Trustees (who are also the Directors of The Wilberforce Trust for the purposes of Company Law) are responsible for preparing the Report of the Trustees and the Financial Statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

Company Law requires the Trustees to prepare Financial Statements for each financial period which give a true and fair view of the state of affairs of the Charitable Company and of the incoming resources and application of resources, including the income and expenditure, of the Charitable Company for that period. In preparing those Financial Statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charitable Company and to enable them to ensure that the Financial Statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charitable Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the Trustees are aware:

SIGNED ON BEHALF OF THE TRUSTEE BOARD ON 8 NOVEMBER 2022

Colin Aspinall (Chairman)

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HPH

Chartered Accountants

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE WILBERFORCE TRUST

OPINION

We have audited the financial statements of The Wilberforce Trust (the 'charitable company') for the year ended 31 March 2022, which comprise the Statement of Financial Activities and Income and Expenditure Account, the Balance Sheet, the Cash Flow Statement and the related notes, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 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:

BASIS OF 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 charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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’/director's 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 or collectively, may cast significant doubt on the charitable company'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 directors with respect to going concern are described in the relevant sections of this report.

OTHER INFORMATION

The trustees/directors are responsible for the other information contained within the annual report. The other information comprises the information included in the Annual Report, other than the financial statements and our Auditor's report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, 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 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.

12

HPH

Chartered Accountants

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE WILBERFORCE TRUST

OPINION ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2006

In our opinion, based on the work undertaken in the course of the audit:

MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the trustees’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

RESPONSIBILITIES OF DIRECTORS

As explained more fully in the trustees’ responsibilities statement on page 11 the trustees (who are also the directors of the charitable company for the purposes 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 charitable company'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

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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

13

HPH

Chartered Accountants

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE WILBERFORCE TRUST

In response to the risk of irregularities and non-compliance with laws and regulations and risk of fraud, we designed procedures which included but were not limited to: sample testing on the posting of journals, timing of recognition of commercial income, review of trustee’s minutes and any correspondence with regulators.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. We are not responsible for preventing non-compliance and cannot be expected to detect noncompliance with all laws and regulations. These inherent limitations are particularly significant in the case of misstatement resulting from fraud as this may involve sophisticated schemes designed to avoid detection, including deliberate failure to record transactions, collusion, or the provision of intentional misrepresentations. We are not responsible for preventing fraud and cannot be expected to detect all fraud.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's report.

USE OF OUR REPORT

This report is made solely to the charitable company's members in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditor's 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 charitable company and the charitable company's members for our audit work, for this report, or for the opinions we have formed.

......................................

Sarah Wearing (Senior Statutory Auditor)

For and on behalf of HPH, Statutory Auditor

54 Bootham York YO30 7XZ

8 November 2022

14

THE WILBERFORCE TRUST

STATEMENT OF FINANCIAL ACTIVITIES AND INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2022

Note
Income and endowments from:
Donations and legacies
2
Charitable activities
3
Other trading activities
Investments
4
Other income
5
Expenditure on:
6 - 8
Raising funds
Charitable activities
Net gains on investments
11
Transfers between funds
18 & 19
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
Net income and net movement in funds before
gains on investments
Net movement in funds
Net income
Total
Total		 General
Designated
Fund
Funds
£
£
51,137
-
3,584,738
-
17,444
-
23,149
-
-
-
3,676,468
-
51,816
-
3,285,201
-
3,337,017
-
339,451
-
190,186
-
529,637
-
(946,189)
1,048,383
(416,552)
1,048,383
2,244,879
2,808,601
1,828,327
£
3,856,984
£
Unrestricted		 Restricted
Funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
264,934
264,934
£		 Permanent
Endowment
Funds
£
-
-
-
102,194
98,750
200,944
13,517
73,778
87,295
113,649
89,346
202,995
(102,194)
100,801
8,630,799
8,731,600
£		 Year ended
31 March
2022
£
51,137
3,584,738
17,444
125,343
98,750
3,877,412
65,333
3,358,979
3,424,312
453,100
279,532
732,632
-
732,632
13,949,213
14,681,845
£		 Year ended
31 March
2021
£
447,376
3,394,433
57,257
115,741
109,928
4,124,735
44,118
3,111,485
3,155,603
969,132
1,119,111
2,088,243
-
2,088,243
11,860,970
13,949,213
£

The notes on pages 18 to 31 form part of these financial statements.

15

THE WILBERFORCE TRUST (Registration number: 4228432)

BALANCE SHEET AS AT 31 MARCH 2022

Note
FIXED ASSETS
Tangible Fixed Assets
9
Investments
11
CURRENT ASSETS
Stock
Debtors
12
Cash at Bank and in Hand
13
CREDITORS: amounts falling due
within one year
14
CREDITORS: amounts falling due
after one year
15
NET ASSETS
REPRESENTED BY
Unrestricted Funds
Undesignated - General Fund
Designated
17
Restricted Funds
18
Endowed Funds
19
Permanent endowment
Revaluation Reserve
FUNDS
TOTAL ASSETS LESS
CURRENT LIABILITIES
NET CURRENT ASSETS		 £
£
10,252,739
8,047,760
18,300,499
6,108
78,329
874,304
958,741
426,317
532,424
18,832,923
4,151,078
14,681,845
£
1,828,327
3,856,984
264,934
8,442,959
288,641
14,681,845
£
2022		 £
£
7,762,468
8,192,490
15,954,958
6,221
150,666
1,086,993
1,243,880
844,931
398,949
16,353,907
2,404,694
£ 13,949,213
2,244,879
2,808,601
264,934
8,335,884
294,915
£ 13,949,213
2021		 £
£
7,762,468
8,192,490
15,954,958
6,221
150,666
1,086,993
1,243,880
844,931
398,949
16,353,907
2,404,694
£ 13,949,213
2,244,879
2,808,601
264,934
8,335,884
294,915
£ 13,949,213
2021
15,954,958
398,949
16,353,907
2,404,694
£ 13,949,213
2,244,879
2,808,601
264,934
8,335,884
294,915
£ 13,949,213

Approved by the Board of Directors and Trustees on 8 November 2022 and signed on its behalf by:

S Cowell Director and Trustee

C Aspinall Director and Trustee

The notes on pages 18 to 31 form part of these financial statements.

16

THE WILBERFORCE TRUST STATEMENT OF CASHFLOWS FOR THE YEAR ENDED 31 MARCH 2022

Note
Cash flows from operating activities:
Net cash provided by operating activities
21
Cash flows from investing activities:
Dividends, interest and rents from investments
Proceeds from the sale of property, plant and equipment
Purchase of property, plant and equipment
Grants received for fixed assets
Proceeds from sales of investments
Purchase of investments
Net cash used in investing activities
Cash flows from financing activities:
Cash inflows from new borrowing
Net cash provided by financing activities
Cash and cash equivalents at the beginning of
the reporting period
Cash and cash equivalents at the end of the
reporting period
Change in cash and cash equivalents in the
reporting period		 2022
£
355,610
125,343
344,750
(3,212,654)
-
1,307,792
(883,530)
(2,318,299)
1,750,000
1,750,000
(212,689)
1,086,993
874,304		 2021
£
350,383
115,741
606,443
(3,278,388)
358,000
2,713,965
(2,648,106)
(2,132,345)
2,400,000
2,400,000
618,038
468,955
1,086,993

Charity law requires separate administration of the cashflows of endowed and other restricted funds of the Charity. This constraint has not adversely affected cashflows as stated above.

The notes on pages 18 to 31 form part of these financial statements

17

THE WILBERFORCE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

1. ACCOUNTING POLICIES

Legal entity

The Wilberforce Trust is regulated by the Charity Commission (1087065), limited by guarantee and is registered in England and Wales. The address of the registered office and principal place of business is Wilberforce House, The Grove, York, YO24 1AN.

Basis of preparation

The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Companies Act 2006 and UK Generally Accepted Practice as it applies from 1 January 2019.

The Trust constitutes a public benefit entity as defined by FRS 102. The accounts are presented in UK Sterling pounds (£).

Going Concern

The Trustees have prepared financial projections, taking into consideration the current economic climate and its potential impact on the sources of income and planned expenditure. They have a reasonable expectation that adequate financial resources are available to enable the charity to continue in operational existence for the foreseeable future, and have adequate contingency plans in the event that income streams are reduced. Consequently the financial statements have been prepared on the basis that the charity is a going concern.

Income recognition

Income from service agreements is recognised when the Charitable Company has entitlement to the funds, any performance conditions attached to the items of income have been met, it is probable that the income will be received and the amount can be measured reliably. Voluntary income and donations including legacies are included in incoming resources when they are receivable, except when donors specify that they must be used in future accounting periods or donors conditions have not been fulfilled, then the income is deferred. The income from fundraising ventures is shown gross, with the associated costs included in fundraising costs. The value of services provided by volunteers is not incorporated into the accounts.

Government grants

The government has made the Coronavirus Job Retention Scheme available to the charity which has been recognised as income using the accrual model.

Grant income is recognised when the conditions for receipt have been met and there is reasonable assurance that the grant will be received. It is then recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate, except where the grant is compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs in which case it is recognised as income in the period in which it becomes receivable.

Expenditure and irrecoverable VAT

Resources expended are included in the Statement of Financial Activities on an accruals basis, inclusive of any VAT which cannot be recovered. All costs have been directly attributed to one of the functional categories of reserves expended in the Statement of Financial Activities.

Support costs are those incurred directly in support of the objects of the Charitable Company.

Governance costs are those associated with constitutional and statutory requirements.

Fundraising costs

Fundraising expenditure comprises costs incurred in inducing people and organisations to contribute financially to the Charitable Company's work. This includes the cost of advertising for donations and the staging of special fundraising events.

Operating leases

Rentals applicable to operating leases are charged to the Statement of Financial Activities over the period they are incurred.

Pension costs

The Charitable Company operates a defined contribution pension scheme and the charge in the accounts for pension costs represents the actual amount of contributions made by the employer to the pension scheme.

18

THE WILBERFORCE TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

1. ACCOUNTING POLICIES (continued)

Fixed Assets

Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost/revaluation on a straight line basis over their expected useful economic lives as follows:

Freehold property 2% straight line basis Furniture, equipment etc. 20% straight line basis IT equipment 25% straight line basis

All expenditure on all types of fixed assets of less than £2,500 is to be written off in year of purchase.

Investments and investment property

Investments and investment property are stated at market value at the balance sheet date. The Statement of Financial Activities includes the net gains and losses arising on revaluations and disposals throughout the year.

Fund accounting

Funds held by the Charitable Company are either:

Further explanation of the nature and purpose of each fund is included in the Notes to the Financial Statements.

Stock

Stock is stated at the lower of cost and net realisable value.

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months of less from the date of acquisition or opening of the deposit of similar account.

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in a transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.

Financial instruments

The Trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2. DONATIONS AND LEGACIES

DONATIONS AND LEGACIES
Legacies
Donations
Club Wilber
Grants		 2022
£
-
17,100
34,037
-
£ 51,137		 2021
£
410,350
10,098
17,928
9,000
£ 447,376

19

THE WILBERFORCE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

3.
CHARITABLE ACTIVITIES
Accommodation care & support services
Rehabilitation services
Government grant income
4.
INVESTMENTS
Dividends investments listed on a recognised stock exchange
Rent received investment property
5.
OTHER INCOME
Gain on disposal of fixed assets
Bank & other interest		 2022
£
3,545,705
3,333
35,700
£ 3,584,738
2022
£
113,895
257
11,191
£ 125,343
2022
£
£ 98,750		 2021
£
3,372,986
3,333
18,114
£ 3,394,433
2021
£
114,409
911
421
£ 115,741
2021
£
£ 109,928

6. ANALYSIS OF TOTAL EXPENDITURE

Raising funds
Fundraising costs
Investment management costs
Charitable activities
Rehabilitation services
Governance costs
- auditor's remuneration
Accommodation, care & support
services		 Staff
Premises
costs
costs
Depreciation
Other
2022
£
£
£
£
£
-
-
-
23,042
23,042
-
-
-
42,291
42,291
2,371,609
196,837
72,043
708,161
3,348,650
-
-
1,489
1,610
3,099
-
-
-
7,230
7,230
£ 196,837
£ 73,532
£ 782,334
£ 3,424,312
£ 2,371,609		 2021
£
4,274
39,844
3,101,831
2,424
7,230
£ 3,155,603

Included in the amounts shown above are support costs totalling £535,661 (2021 £554,136) as shown in Note 7.

2022 2021
Included in other costs are: £ £
Agency costs £ 184,845 £ 40,622

7. SUPPORT COSTS

Rehabilitation services
Accommodation, care & support services		 Office
Management
costs
Depreciation
2022
£
£
£
£
382,350
139,356
10,856
532,562
-
1,610
1,489
3,099
£ 382,350
£ 140,966
£ 12,345
£ 535,661		 2021
£
537,920
16,216
£ 554,136

Support costs have been allocated to activity cost categories on a basis consistent with the use of resources.

20

THE WILBERFORCE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

8. STAFF COSTS

STAFF COSTS
Wages and salaries
Social security costs
Pension costs		 2022
£
2,093,772
194,319
83,518
£ 2,371,609		 2021
£
2,028,371
157,485
70,839
£ 2,256,695

No remuneration or expenses have been paid to any Director/Trustee.

The number of employees during the year, whose gross pay and benefits (excluding employer pension contributions and awards to inventors) fell within the following bands, was:

nventors) fell within the following bands, was:
2022 2021
No. No.
£70,001 - £80,000 1 1
£100,001 - £110,000 1 -

The key management personnel of the Trust, comprise the Trustees, the Chief Executive Officer and the Finance Director. The total employee benefits of the key management personnel of the Trust were £176,408 (2021 £166,964).

The average monthly head count was 105 staff (2021 115) and the average monthly number of full-time equivalent employees (including casual and part-time staff) during the year were as follows:

Accommodation, care, support and rehabilitation services
Administration		 2022
No.
61
23
84		 2021
No.
56
23
79
9. TANGIBLE FIXED ASSETS
Disposals in year
Additions in year
At 31 March 2022
Net book value
At 1 April 2021
Charge for year
Disposals in year
Cost or valuation
At 1 April 2021
Depreciation
At 31 March 2021
At 31 March 2022
At 31 March 2022		 Assets in the
Freehold
course of
Motor
IT
property
construction
vehicles
equipment
Total
£
£
£
£
£
3,422,100
5,130,800
57,102
64,339
8,674,341
-
2,809,803
-
-
2,809,803
(270,000)
-
-
-
(270,000)
3,152,100
7,940,603
57,102
64,339
11,214,144
813,433
-
34,101
64,339
911,873
62,112
-
11,420
-
73,532
(24,000)
-
-
-
(24,000)
851,545
-
45,521
64,339
961,405
£ 2,300,555
£ 7,940,603
£ 11,581
£ -
£ 10,252,739
£ 2,608,667
£ 5,130,800
£ 23,001
£ -
£ 7,762,468

21

THE WILBERFORCE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

9. TANGIBLE FIXED ASSETS (CONTINUED)
Unrestricted - designated
Endowed		 2022
2021
£
£
3,802,184
5,153,801
6,450,555
2,608,667
£ 10,252,739
£ 7,762,468

The freehold property was revalued at 31 March 2018 by J L Burley of Briggs Burley Chartered Surveyors on the basis of open market value at £3,320,000.

If the freehold properties had not been included at valuation they would have been included under the historical cost convention as follows:

Cost
Accumulated depreciation
Net book value
10. AUDITOR'S REMUNERATION
Audit of the financial statements
Other fees to auditor
All other non-audit services
11. INVESTMENTS
Market value at 1 April 2021
Additions
Disposals
Net gains
Market value at 31 March 2022
The historical cost of the above investments amounts to:
Listed investments
Within the UK
Outside the UK
Investment property - within the UK
Endowed
Unrestricted		 2022
2021
£
£
10,553,672
8,136,493
(1,420,546)
(1,209,472)
£ 9,133,126
£ 6,927,021
2022
2021
£
£
4,000
4,000
3,230
3,230
£ 7,230
£ 7,230
2022
2021
£
£
8,192,490
7,139,238
883,530
2,648,106
(1,307,792)
(2,713,965)
279,532
1,119,111
£ 8,047,760
£ 8,192,490
2022
2021
£
£
5,475,465
1,349,302
2,572,295
6,843,188
£ 8,047,760
£ 8,192,490
2022
2021
£
£
7,528,891
£
7,459,111
£
3,160,090
3,509,504
4,887,670
4,287,986
-
395,000
£ 8,047,760
£ 8,192,490

All investments are held primarily to provide an investment return for the Charitable Company.

22

THE WILBERFORCE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

12.
Trade debtors
Prepayments
Accrued income
13. CASH AND CASH EQUIVALENTS
Cash in hand
Current account
Savings account
14. CREDITORS: amounts falling due
within one year
Trade creditors
Taxation and social security costs
Pension deficit funding agreement
Endowed
Unrestricted
DEBTORS
Unrestricted
Unrestricted
Restricted
Accruals and deferred income
Other creditors		 2022
2021
£
£
43,080
48,265
5,769
6,123
29,480
96,278
£ 78,329
£ 150,666
2022
2021
£
£
£ 78,329
£ 150,666
2022
2021
£
£
425
312
5,000
5,000
868,879
1,081,681
£ 874,304
£ 1,086,993
2022
2021
£
£
900,620
1,893,115
264,934
14,934
(291,250)
(821,056)
£ 874,304
£ 1,086,993
2022
2021
£
£
59,750
66,903
23,292
19,899
58,090
82,168
284,567
674,371
618
1,590
£ 426,317
£ 844,931
2022
2021
£
£
£ 426,317
£ 844,931

23

THE WILBERFORCE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

15. CREDITORS: amounts falling due
after one year
Bank loan (see note 16)
Pension deficit funding agreement		 2022
2021
£
£
4,150,000
2,400,000
1,078
4,694
£ 4,151,078
£ 2,404,694
Unrestricted
16. LOANS AND BORROWINGS
Non-current loans and borrowings
Other borrowings		 2022
2021
£
£
4,151,078
2,404,694
2022
2021
£
£
£ 4,150,000
£ 2,400,000

Other borrowings

Other borrowings is denominated in £ with a nominal interest rate of the bank's Fixed Refinancing Rate current from time to time plus and interest rate marging of 1.10%, and the loan facility is available until further notice by the bank. The carrying amount at year end is £4,150,000. (2021 - £2,400,000).

The loan is secured against assets held within an investment portfolio. The loans are a credit facility held with an investment manager.

The loan is to be repaid through the sale of the existing portfolio of properties that are being replaced by the new purpose built building.

DESIGNATED FUNDS
Welfare Fund
Pension Reserve
Low Vision Service
Fixed Assets		 Balance at
Balance at
1 April
Incoming
Resources
31 March
2021
resources
expended
Transfers
2022
£
£
£
£
£
9,800
-
-
-
9,800
20,000
-
-
-
20,000
25,000
-
-
-
25,000
2,753,801
-
-
1,048,383
3,802,184
£ 2,808,601
£ -
£ -
£ 1,048,383
£ 3,856,984

17. DESIGNATED FUNDS

Welfare Fund
Pension Reserve
Low Vision Service
New Building
Fixed Assets		 Balance at
Balance at
1 April
Incoming
Resources
31 March
2020
resources
expended
Transfers
2021
£
£
£
£
£
9,800
-
-
-
9,800
20,000
-
-
-
20,000
25,000
-
-
-
25,000
6,936
-
-
(6,936)
-
-
-
-
2,753,801
2,753,801
£ 61,736
£ -
£ -
£ 2,746,865
£ 2,808,601

24

THE WILBERFORCE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

17. DESIGNATED FUNDS (continued)

Welfare Fund

To ensure that any hardship applications to continue to live in a tenanted house of The Wilberforce Trust can be funded where necessary to ensure that The Wilberforce clients can integrate in activities and live as independent lives as possible with equal opportunity.

Pension Reserve

With new legislation, the Trust has identified that the pension provision needs a pension reserve.

Low Vision Service

To ensure that the Trust can have facilities and equipment to deliver where appropriate and necessary community NHS Ophthalmology Low Vision Services.

New Building

To facilitate exploring potential new housing for the future.

Fixed Assets

Represents net book value of new building less loan value and excludes property held as permanent endowment.

18. RESTRICTED FUNDS

Eyevan
Sensory Project Fund
Ward Fund
Atrium Wall Hanging
Bradbury Foundation
Eyevan
Sensory Project Fund
Ward Fund
Delta Project
Atrium Wall Hanging
City of York Council - Infection Control
City of York Council - LFD Testing
Bradbury Foundation
Garfield Weston Foundation
YOR4Good fund Grant
Thomas Pocklington Trust		 Balance at
Balance at
1 April
Incoming
Resources
31 March
2021
resources
expended
Transfers
2022
£
£
£
£
£
5,034
-
-
-
5,034
7,400
-
-
-
7,400
1,500
-
-
-
1,500
1,000
-
-
-
1,000
250,000
-
-
-
250,000
£ 264,934
£ -
£ -
£ -
£ 264,934
Balance at
Balance at
1 April
Incoming
Resources
31 March
2020
resources
expended
Transfers
2021
£
£
£
£
£
5,034
-
-
-
5,034
7,400
-
-
-
7,400
1,500
-
-
-
1,500
18,372
-
-
(18,372)
-
1,000
-
-
-
1,000
-
26,885
(26,885)
-
-
-
6,983
(6,983)
-
-
-
250,000
-
-
250,000
-
100,000
-
(100,000)
-
-
8,000
-
(8,000)
-
-
10,000
(10,000)
-
-
£ 33,306
£ 401,868
(£ 43,868)
(£ 126,372)
£ 264,934

25

THE WILBERFORCE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

18. RESTRICTED FUNDS (continued)

Eyevan

To enable the work of the Designated Hub to be taken out to the wider community and in areas of North Yorkshire not best served by facilities or transport links to assist the individuals accessing the service otherwise.

Sensory Project Fund

Pop up sensory room for stimulation and physical exercise and sport activities for people with limited sight and mobility.

Ward Fund

Grant from the ward committee to fund salary costs for a fundraiser and volunteer expenses relating to the hub service.

Delta Project

Fundraising events held to raise funds for this capital project.

Atrium wall hanging

Donation for the atrium wall hanging in the new build.

City of York Council - Infection control

Funding to support adult social care providers to reduce the rate of transmission of COVID-19 in and between care homes.

City of York Council - LFD testing

Funding to support additional rapid LFD testing of staff in care homes, support visiting professionals and enable indoors, close contact visiting where possible.

Bradbury Foundation

Donation towards the cost of building the 30 appartment residential building on an owned greenfield site.

Garfield Weston Foundation

Grant towards the cost of building the 30 appartment residential building.

YOR4Good fund Grant

Grant towards the cost of the LLZ kitchen in the new 30 appartment residential building.

Thomas Pocklington Trust

Grant to support through financial concerns due to cashflow difficulties as a direct result of the COVID-19 crisis.

26

THE WILBERFORCE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

19. PERMANENT ENDOWMENT FUND

The Permanent Endowment Fund represents those assets which must be held permanently by the Charitable Company, principally property and investments. Income arising on the endowment fund can be used in accordance with the objects of the Charitable Company and are included as unrestricted income. Any capital gains or losses arising on the investments form part of the fund.

Wilberforce Home for the Blind
Investments
Revaluation reserve		 Balance at
Balance at
1 April
Incoming
Resources
Investment
31 March
2021
resources
expended
gains
Transfers
2022
£
£
£
£
£
£
1,470,966
98,750
(67,504)
-
-
1,502,212
6,864,918
102,194
(13,517)
89,346
(102,194)
6,940,747
294,915
-
(6,274)
-
-
288,641
8,630,799
200,944
(87,295)
89,346
(102,194)
8,731,600

The above transfer from the Permanent Endowment Fund to the General Unrestricted Fund relates to investment income arising on the endowment fund that can be used in accordance with the objects of the Charitable Company.

Wilberforce Home for the Blind
Investments
Revaluation reserve		 Balance at
Balance at
1 April
Incoming
Resources
Investment
31 March
2020
resources
expended
gains
Transfers
2021
£
£
£
£
£
£
1,428,541
109,928
(67,503)
-
-
1,470,966
5,963,406
94,365
(33,282)
934,794
(94,365)
6,864,918
301,190
-
(6,275)
-
-
294,915
7,693,137
204,293
(107,060)
934,794
(94,365)
8,630,799

20. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Fund balances at 31 March 2022
are represented by:
Unrestricted Funds
Designated Funds
Restricted Funds
Permanent Endowment Fund		 Tangible
Net Current
Long term
Fixed Assets Investments
Assets
liabilities
2022
£
£
£
£
£
-
5,475,465
503,940
(4,151,078)
1,828,327
3,802,184
-
54,800
-
3,856,984
-
-
264,934
-
264,934
6,450,555
2,572,295
(291,250)
-
8,731,600
£ 10,252,739
£ 8,047,760
£ 532,424
(£ 4,151,078) £ 14,681,845

27

THE WILBERFORCE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

20. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Fund balances at 31 March 2021
are represented by:
Unrestricted Funds
Designated Funds
Restricted Funds
Permanent Endowment Fund		 Tangible
Net Current
Long term
Fixed Assets Investments
Assets
liabilities
2021
£
£
£
£
£
-
1,349,302
900,271
(4,694)
2,244,879
5,153,801
-
54,800
(2,400,000)
2,808,601
-
-
264,934
-
264,934
2,608,667
6,843,188
(821,056)
-
8,630,799
£ 7,762,468
£ 8,192,490
£ 398,949
(£ 2,404,694) £ 13,949,213

21.RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net income for the reporting period
Adjustments for:
Depreciation charges
Grants received for fixed assets
(Gains) on disposal of fixed assets
(Gains) on investments
Dividends, interest and rents from investments
Decrease/(increase) in stock
Decrease/(increase) in debtors
(Decrease) in creditors
Net cash (used in)/provided by operating activities
ANALYSIS OF CASH AND CASH EQUIVALENTS
Cash at bank and in hand
Total cash and cash equivalents
ANALYSIS OF CHANGES IN NET DEBT
Cash
22. OPERATING LEASE COMMITMENTS
The total of future minimum lease payments is as follows:
Operating leases which expire:
Within one year
Within one to two years
Within two to five years		 2022
2021
£
£
732,632
2,088,243
73,532
85,090
-
(358,000)
(98,750)
(109,928)
(279,532)
(1,119,111)
(125,343)
(115,741)
113
(410)
72,337
(20,657)
(19,379)
(99,103)
£ 355,610
£ 350,383
874,304
1,086,993
£ 874,304
£ 1,086,993
At
At
01/04/2021
Cash-flows
31/03/2022
£
£
£
1,086,993
(212,689)
874,304		 2021
£
2,088,243
85,090
(358,000)
(109,928)
(1,119,111)
(115,741)
(410)
(20,657)
(99,103)
£ 350,383
1,086,993
£ 1,086,993
£ 1,086,993
£ (212,689)
£ 874,304
At 31 March
2022
£
5,153
5,153
9,649
£ 19,955		 At 31 March
2021
£
5,153
5,153
14,802
£ 25,108

The amount of non-cancellable operating lease payments recognised as an expense during the reporting period was £5,153 (2021 £1,387).

28

THE WILBERFORCE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

23. LEGAL STATUS

The Charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £10.

24. TAXATION

No corporation tax has been provided in the Charitable Company's accounts because the income of the entity, a registered charity, is within the exemption granted within Sections 466 to 493 of the Corporation Tax Act 2010.

25. PENSION SCHEME

The Pensions Trust Retirement Solutions - The Growth Plan

The Charitable Company participates in the scheme, a multi-employer scheme which provides benefits to some 638 nonassociated participating employers. The scheme is a defined benefit scheme in the UK. It is not possible for the company to obtain sufficient information to enable it to account for the scheme as a defined benefit scheme. Therefore it accounts

The scheme is subject to the funding legislation outlined in the Pensions Act 2004 which came into force on 30 December 2005. This, together with documents issued by the Pensions Regulator and Technical Actuarial Standards issued by the Financial Reporting Council, set out the framework for funding defined benefit occupational pension schemes in the UK.

The scheme is classified as a 'last-man standing arrangement'. Therefore the Charitable Company is potentially liable for other participating employers' obligations if those employers are unable to meet their share of the scheme deficit following withdrawal from the scheme. Participating employers are legally required to meet their share of the scheme deficit on an annuity purchase basis on withdrawal from the scheme.

A full actuarial valuation for the scheme was carried out at 30 September 2020. This valuation showed assets of £800.3m, liabilities of £831.9m and a deficit of £31.6m. To eliminate this funding shortfall, the Trustee has asked the participating employers to pay additional contributions to the scheme as follows:

Deficit contributions

From 1 April 2022 to 30 September 2025 £3,312,000 per annum

(payable monthly)

The recovery plan contributions are allocated to each participating employer in line with their estimated share of the Series 1 and Series 2 scheme liabilities.

Where the scheme is in deficit and where the Charitable Company has agreed to a deficit funding arrangement the Charitable Company recognises a liability for this obligation. The amount recognised is the net present value of the deficit reduction contributions payable under the agreement that relates to the deficit. The present value is calculated using the discount rate detailed in these disclosures. The unwinding of the discount rate is recognised as a finance cost.

Present values of provision

Present value of provision
Provision at start of period
Interest expense
Deficit contribution paid
Provision at end of period
Remeasurements – impact of any change in assumptions
Remeasurements – amendments to the contribution schedule
Reconciliation of opening and closing provisions		 2022
2021
£
£
1,696
6,284
2022
£
6,284
36
(1,590)
(39)
(2,995)
1,696		 2020
£
7,445
2021
£
7,445
168
(1,544)
215
-
6,284

29

THE WILBERFORCE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

25. PENSION SCHEME (continued)

Income and expenditure impact 2022 2021
£ £
Interest expense 36 168
Remeasurements – impact of any change in assumptions (39) 215
Remeasurements – amendments to the contribution schedule (2,995) -
Assumptions 2022 2021 2020
% per % per % per
annum annum annum
Rate of discount 2.35 0.66 2.53

The discount rates shown above are the equivalent single discount rates which, when used to discount the future recovery plan contributions due, would give the same results as using a full AA corporate bond yield curve to discount the same recovery plan contributions.

The following schedule details the deficit contributions agreed between the Charitable Company and the scheme at each year end period:

Deficit contributions schedule

2022 2021 2020
Year ending £ £ £
Year 1 618 1,590 1,544
Year 2 618 1,638 1,590
Year 3 515 1,687 1,638
Year 4 - 1,448 1,687
Year 5 - - 1,448

The Charitable Company must recognise a liability measured as the present value of the contributions payable that arise from the deficit recovery agreement and the resulting expense in the income and expenditure account i.e. the unwinding of the discount rate as a finance cost in the period in which it arises.

It is these contributions that have been used to derive the Charitable Company's balance sheet liability.

26. CONTRACTS AND COMMITMENTS

Capital commitments at 31 March 2022 in relation to building works were £443,879 (2021: £2,695,380).

27. VOLUNTEERS

Trust volunteers visit our tenants on a regular basis. Many of them have become befrienders and are making a real difference to the lives of the people they visit. Every volunteer is matched with a tenant carefully ensuring the same common interest from football to museum visits, from shopping for fun to reading carefully chosen books, from writing letters to going to the park together.

Our team of over 65 volunteers bring so much to The Wilberforce Trust. Skills, passion and energy that we are so grateful for. This year they befriended, crafted, baked, fund raised amazingly, giving so much of their time that was invaluable to the people whom we support and no report can be complete without placing on record our sincere thanks for their efforts.

28. RELATED PARTIES

There were no related party transactions during the reporting period.

30

THE WILBERFORCE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

29.COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES AND INCOME AND EXPENDITURE ACCOUNT

Income and endowments from:
Donations and legacies
Charitable activities
Other trading activities
Investments
Other income
Expenditure on:
Raising funds
Charitable activities
Net (losses)/gains on investments
Transfers between funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
Total
Net income and net movement in funds before
gains/(losses) on investments
Net income/(expenditure)
Net movement in funds
Total		 General
Designated
Fund
Funds
£
£
45,508
-
3,394,433
-
57,257
-
21,376
-
-
-
3,518,574
-
10,836
-
2,993,839
-
3,004,675
-
513,899
-
184,317
-
698,216
-
(2,526,128)
2,746,865
(1,827,912)
2,746,865
4,072,791
61,736
2,244,879
£
2,808,601
£
Unrestricted		 Restricted
Funds
£
401,868
-
-
-
-
401,868
-
43,868
43,868
358,000
-
358,000
(126,372)
231,628
33,306
264,934
£		 Permanent
Endowment
Funds
£
-
-
-
94,365
109,928
204,293
33,282
73,778
107,060
97,233
934,794
1,032,027
(94,365)
937,662
7,693,137
8,630,799
£		 Year ended
31 March
2021
£
447,376
3,394,433
57,257
115,741
109,928
4,124,735
44,118
3,111,485
3,155,603
969,132
1,119,111
2,088,243
-
2,088,243
11,860,970
13,949,213
£		 Year ended
31 March
2020
£
35,247
3,608,891
28,170
249,856
-
3,922,164
54,627
3,476,462
3,531,089
391,075
(549,404)
(158,329)
-
(158,329)
12,019,299
11,860,970
£

31