THE OXFORDSHIRE CARE PARTNERSHIP Annual Report and Financial Statements Year Ended 31 March 2021 Charity No: 1087554 Company No: 04152545
THE OXFORDSHIRE CARE PARTNERSHIP Contents Section Page Report of the Trustees lincorporating the Strategic Report) Report of the Independent Auditor to the Members io Statement of Financial Activitie5 (incorporating an Income and Expenditure Account) 15 Balance Sheet 16 Statement of Cash Flows 17 Notes Forming Part of the Financial Statements 18-24
THE OXFORDSHIRE CARE PARTNERSHIP Report of the Trustees for the year ended 31 March 2021 The Trustees, who are also directors of the Charity for the purposes of the Companies Act, submit their annual report and the audited financial statements for the year ended 31 March 2021. Reference and Administrative Details Directornrustees Millie Wentworth-stanley (The Orders of St John Care Trust) Ichairpersonl Daniel Hayes (The Orders of St John Care Trustl Kerry Dearden (The Orders of St John Care Trust) Tracey Wardle (The Orders of St John Care Trust) Kevin Bolt Ibphal Julian Pearce Ibphal - Appointed 2 Ortober 2020 Anna Humphries Ibphal Julie Wittich Ibphal - Resigned 30 September 2020 Philippa Spratley Ibpha} Secretary Philippa Spratley Registered Office l Des Roches Square Witney Oxfordshire OX28 4BE Auditor BDO LLP Chartered Accountants Two Snow Hill Birmingham B4 6GA Bankers Barclays Bank PIC Midland Corporate Banking P.0. Box 3333 15 Colmore Row Birmingham B32 4TN
THE OXFORDSHIRE CARE PARTNERSHIP Report of the Trustees for the year ended 31 March 2021 Icontinuedl Strategic Report Strurture, Governance and Management The OKFordshire Care Partnership (the Charity) is a charitable company limited by guarantee (registered company number 04152545, registered Charity number 10875541 and was established on l February 2001. It is governed by articles of association which were last amended on 8 June 2001. Organisation A board of Trustees, which meets periodically, administers the Charity. Each member has the power to appoint up to four Trustees to the Board and the Board is able to appoint up to two independent Trustees. During the year to 31 March 2021, both The Orders of St John Care Trust10SJCTI and bpha had four Trustees and there were no independent trustees. Trustee induction and training includes ensuring all Trustees have a working knowledge of the Charity and its charitable purpose. any current issues the Charity is facing and an overview of the financial position. The Trustees jointly take all key decisions regarding contractual and other commercial arrangements of the Charity, and there are working group5 on which both members are represented. OSJCT manage the day-to-day care service provision obligations of the Charity under a management contract dated 20 December 2001. Investment Powers Under the memorandum and articles of association, the Charity has the power to make any investments which the Trustees see fit. Objectives and Public Benefit The Charity's objectives are to carry out in the County of Oxfordshire the following activities= To provide care to elderly people through care homes specialising in residential, mental health and nursing care, together with intermediate, domiciliary and day care,. To provide housing, accommodation and assistance to help house people who are elderly or disabled and associated facilities and amenities for such people or for the relief of the aged, disabled, handicapped Iwhether physically or mentally) or chronically sick people and provision of care in the community and in hospitals and at home,. and To further such general charitable object5 as the Trustees may determine. The Trustees have reviewed the Charity Commission guidance on Public Benefit and consider that the Trust objectives are for the public benefit. The main reasons are.. 100% of our service users are contracted by Local Authorities. Surpluses are reinvested in subsidising improved services or accommodation for our service Users. Other services are provided at either low or no cost to certain service users. Our services are available to any eligible person.
THE OXFORDSHIRE CARE PARTNERSHIP Report of the Trustees for the year ended 31 March 2021 Icontinuedl Related Parties The Charity is a charitable care trust established in 2001 by OSJCT, a leading national provider of care service for older people and bpha, a major regional registered social landlord, to take transfer of operational care homes for older people from OKfordshire County Council IOCCI. The transfer of the 19 care homes was completed in December 2001. Central to the contract with OCC is the principle that the 10 existing homes will be replaced in the life of the contract, in which the physical standards of the accommodation fall short of agreed requirements, with eight larger new build homes developed to the most modern standards. In all signif icant matters, including the provision of services to OCC and the replacement of homes, the Charity acts as the principal obligor but as detailed below has subcontracted certain matters to OSJCT and bpha who each take some of the risks and rewards. The net balance of surplus / def icit after sub-contractual commitments arising on operations in the County of Oxfordshire is retained within the Charity. The Charity wholly subcontracts the care of residents in the care homes to OSJCT. OSJCT is the registered operator of the care homes and employs the employees working in the homes and at a support level in the county office. Similarly, the Charity subcontracts the development and capital funding of the new care homes to bpha. The existing care homes and County Council controlled development sites are leased f rom OCC to the Charity on 60-year operating leases with the exception of one site. The development sites are underlet by the Charity to bpha with a contractual commitment to develop and fund the new care homes. Upon satisfactory completion, the new homes are leased back to the Charity for operation by OSJCT. Funding Sources and Expenditure The principal funding source is fees for residential and nursing care f rom OCC; the Charity also receives income from the NHS for property rental at the Chipping Norton site12021: £0.35m,' 2020.. £0.35ml; expenditure is all related to providing care, and maintaining the properties and equipment. The accounting treatment adopted since the Charity was first established ref lects the intention of the partners, OSJCT and bpha, and of the other stakeholders principally including OCC, that all activity in relation to provision of services in the homes operated by the Charity should be reflected in the Charity's financial statements. This is reflected in the occupancy key performance indicators. However, self-fund income is treated as agency income and so is not included in the accounts. Beds which are not purchased by OCC and beds that fall outside of the contract with OCC are made available to private self-funding residents in a direct contract with OSJCT. As in previous years the private self-funder income does not form part of the financial statements of the Charity. In previous years the Charitws strategic report made some reference to the key performance metrics of the homes. The Trustees recognise that it is not possible by reference to the OCP financial statements for external stakeholders to understand the underlying performance of the homes since m05t of the operating costs and all of the self-f under income are borne by OSJCt and are only recognised in OSJCt's financial statements. The Trustees have agreed on the accounting treatment and this is consistent with the prior year, they will however keep this under review for appropriateness. The Trustees recognise that almost 20 years have elapsed since the Charity commenced operations. During that period the operating environment, including the needs and expectations of elderly people has changed. The original intentions of the partners have in some cases been superseded with some homes continuing to operate beyond their originally anticipated lifespan.
THE OXFORDSHIRE CARE PARTNERSHIP Report of the Trustees for the year ended 31 March 2021 Icontinuedl During 2018119 the partners agreed a set of definitions for 2019120 for the key areas of property spend. As part of this the Charity agreed to fund from its reserves £0.6M of refurbishment costs in 2019120 in support of the needs of some of the homes to enable discussions on funding to support the repairs and maintenance of the older homes to be discussed with the Local Authority. £0.4m was spent during 2019120 with a further £O.Im in 2020121. The remaining works have been carried over to 2021/22. The Charity has completed stock condition surveys and during 2021/22 expects to review the demands on the lifecycle maintenance fund currently held by bpha and work with OCC on an updated estates strategy and the capital investment demands thereof to ensure it has sufficient funds to the end of the contract. Both pieces of work were delayed due to the impact of the pandemic. Compliance with Charity Governance Code The Board notes its support of the code of governance for charities, including the requirements for larger, more complex charities. Both members have adopted codes of governance relevant to their sectors: bpha applies the principles of good governance outlined in the National Housing Federation Code of Governance 2015 and OSJCT applies the Charity Governance Code. A review was undertaken during 2020 to assess OCP'S compliance with the code and this was reported on in last year's annual report. It was found that although the key outcomes in respect of each of the principles are met, full compliance with all recommended practices within the code was not achievable. Certain parts of these practices are not applicable, for instance in relation to staffing as OCP itself does not employ any staff. Practice diverges in other areas, sometimes as a direct consequence of the charity's joint venture structure which mainly affects the Board Effectiveness and Diversity principles. There has been no change in compliance since the review in early 2020. Statement of adherence to the Fundraising Regulator Code The Charity seeks to comply fully with all regulation and relevant codes of practice. Fundraising is not a material income stream for the Charity and therefore is not required to report under section 162A of the Charities Act 2011. Activities and Performance The Charity currently operates 16 care homes across Oxfordshire with a total of 878 beds12020'. 9181. The Charity, in agreement with OCC, closed one home that was no longer commercially viable, at the end of financial year and the property was handed back to OCC in April 2021. The Charity IOCPI continues to have a strong relationship with OCC and strategic discussions are ongoing around the future estate strategy including performance of some older homes and development of alternative commissioning models that meet the needs of OCC and future residents alike. The impact of Covid-19 has been far greater than anyone anticipated. The Charity subcontracts the provision of care to OSJCt which means all operating risk sits with OSJCT rather than OCP. OSJCT, as care provider, put in place infection control protocols and other operating protocols needed to ensure residents and employees were kept safe throughout the pandemic. Central Government, via the Local Authorities provided funding support to the social care sector during the pandemic. The contractual arrangements for this funding were between OSJCT and the Local Authorities.
THE OXFORDSHIRE CARE PARTNERSHIP Report of the Trustees for the year ended 31 March 2021 Icontinuedl The pandemic impacted occupancy throughout 2020121 as many of the homes were closed to admissions for large periods of time during the year due to virus outbreaks. Coupled with this, it continued to be challenging to recruit and retain employees. OSJCT, who employs all the staff providing the care services, has found it is relying increasingly on the support of agency workers. OKFordshire has a particularly low unemployment rate and the Charity IOSJCTI is feeling the impact of reduced availability of overseas workers and restrictions on multi site working driven by Government guidelines issued as a response to the pandemic. The Charity IOCPI will continue to work with its partners and stakeholders to ensure the sustainability of OCP. Financial Review 2021 {£'oooi 25,373 11261 11,6621 2020 (£'ooo) 24,236 11501 12,9081 Financial KPIS Income Net IExpenditurel/lncome Cash flow Operatlonal KPIS Occupancy as Yo of total places Average block beds 83.8% 522 93.2Y. 562 Financial performance for the 12 months has improved in terms of income lincome f rom charitable activities increased by 4.7% to £25.4m in the year to 31, March 20211 due principally to increased fee rates. Included within Income is £367,620 in relation to exiting the Glebe House lease, excluding this income the fee rate increase would have been 3.2Y.. The average occupancy for the year (OCC funded residents and self-fundersl was 83.80A12020: 93.20AI. This equates to 76912020: 8561 residents in total. The average number of occupied block beds decreased to 522 funded by OCC12020- 5621. Local Authority fee increases for the year were 3.48%12020.. 3.44Yol. Fee increases are linked to contractual indexation. Contractual payments to OSJCT increased in line with the increase in income as a consequence of the mechanism used to calculate care fee5. During the year, Glebe House was closed and handed back to OCC and the lease surrendered in April 2021. As part of the lease surrender, OCP incurred a one-off exceptional cost of £107k, which is circa one year's rent, to be released f rom the lease early and associated legal costs. Trustees agreed these costs could be funded from reserves. as they seek to support OCP as a Sustainable Charity to the end of the contract. Thi5 means OCP has traded a deficit position of £126k during 2020121 as a consequence of these one-off items. Whilst 2020121 was a difficult year, the green shoots of recovery are already visible. The vaccination programme is having a positive impact on transmission rates across the UK. The homes have been able to reopen and are now able to allow visiting. Whilst there are still restrictions around isolation and social distancing, occupancy levels are beginning to increase. and Trustees are confident that the demand within elderly care will recover.
THE OXFORDSHIRE CARE PARTNERSHIP Report of the Trustees for the year ended 31 March 2021 Icontinuedl Going Concern The Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future from the date of signing of these reports and financial statements. Trustees have reviewed the 24-month trading performance and cashflows and are satisfied the Charity is sustainable. Therefore, the Charity will continue to adopt the going concern basis of accounting in preparing the annual financial statements. Trustees have considered a number of scenarios with relation to Covid-lg and the impact on OCP. The contractual structure of OCP is such, that the void mechanism ensures OCP can continue to cover all contractual payments. Operating risk sits with the care provider, OSJCT, and therefore Trustees are assured there is limited risk to OCP as a result of Covid-19. Reserves Policy and Risk Management The Charity is currently building a reserve and at the year-end held total reserves of £3.6m12019120: £3.7ml with free reserves of £3.Om 12019/20.. £3.Oml. The current policy is to continue to build reserves in the Charity until such time that a decision is made around utilisation of those reserves. The Trustees are targeting reserves in excess of £4m for the financial stability of the company. The Charity is committed to using reserves for reinvestment in services for older people in Oxfordshire in line with the Charitvs objectives. The Trustees have identified and implemented risk management strategies for the risks to which the charity could be exposed and have established controls and action plans over these. The principal risks to which the Charity may be subject.. Covid-19 - global pandemic will affect occupancy levels,. however the void bed contractual mechanism ensures GCP is sufficiently reimbursed to continue to operate. Governance and Management - the strategic objectives of the Charity are reviewed annually. to set clear goals for the current year in line with long term aspirations and Charity Commission guidelines. in order to continue to deliver quality care services. Operational Control there are established systems to manage and report operating performance to all stakeholders in the Trust, which are reviewed regularly. Trustees are considering how this can be improved to ensure strong communications exist to maximise availability of the provision of care for the residents. Financial Controls - Operational f inancial management of the Charity is undertaken by OSJCT which is overseen by a Board of Trustees. Legal and Compliance Risks - OSJCT a5 Care Provider complies with all care homes legislation and other applicable laws relating to the homes or to the provision of services including (without limitation) those relating to health and safety, hygiene, fire, employment and data protection.
THE OXFORDSHIRE CARE PARTNERSHIP Report of the Trustees for the year ended 31 March 2021 Icontinuedl Trustees, Responsibilities The Trustees are responsible for preparing the Strategic Report, the Annual Report and the financial statements in accordance with applicable law and regulations. Company law requires the Trustees to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable lawl. Under company law the Trustees must not approve the financial statements unless they are satisf led that they give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing these financial statements, the Trustees are required to.. select suitable accounting policies and then apply them consistently- make judgements and accounting estimates that are reasonable and prudent; state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees confirm that.. So far as each Trustee is aware, there is no relevant audit information of which the charitable companws auditor is unaware,. and The Trustees have taken all reasonable steps that they ought to have taken as Trustees in order to make themselves aware of any relevant audit information and to establish that the charitable company's auditor is aware of that information. The Trustees Annual Report, incorporating the Strategic Report, wa5 approved by the Board on 01 July 2021. Daniel Hayes Trustee
THE OXFORDSHIRE CARE PARTNERSHIP Independent auditorfs report to the members of The Oxfordshire Care Partnership Opinion on the financial statements In our opinion, the f inancial statements: give a true and fair view of the state of the Charitable Companws affairs as at 31 March 2021 and of it5 incoming resources and application of resources for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice- and have been prepared in accordance with the requirements of the Companies Act 2006. We have audited the financial statements of The Oxfordshire Care Partnership I'the Charitable Company'l for the year ended 31 March 2021 which comprise the statement of f inancial activities, the balance sheet, the cash flow statement and notes to the financial statements, including a summary of 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 Finonciol Reporting Stondord applicoble in the UK ond Republic of Ireland Iunited Kingdom Generally Accepted Accounting Practice) Basis for opinion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII 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 relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standa rd, 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 related to going concern In auditing the financial statements, we have concluded that the Trustees, 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 Trustees with respect to going concern are described in the relevant sections of this report. 1 No requirement to specify whether FRS 102 or FRS 102 1A- wording tovers both frameworks. 10
THE OXFORDSHIRE CARE PARTNERSHIP Independent auditorfs report to the members of The Oxfordshire Care Partnership Icontinuedl Other information The Trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our auditorfs report thereon. The other information comprises.. the Trustees Report . 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 course of 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 statement5 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. Other Companies Act 2006 reporting In our opinion, based on the work undertaken in the course of the audit.. the information given in the Trustees, Report, which includes the Directors, Report and the Strategic report prepared for the purposes of Company Law, for the financial year for which the f inancial statements are prepared is consistent with the financial statements- and the Strategic report and the Directors, Report, which are included in the Trustees, report, have been prepared in accordance with applicable legal requirements. 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 misstatement in the Strategic report or the Trustee's 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,. adequate accounting records have not been kept, or returns adequate for our audit have not been received f rom branches not visited by us,. or the financial statements are not in agreement with the accounting records and returns,. or certain disclosures of Directors, remuneration specified by law are not made- or we have not received all the information and explanations we require tor our audit.
THE OXFORDSHIRE CARE PARTNERSHIP Independent auditorfs report to the members of The Oxfordshire Care Partnership Icontinuedl Responsibilities of Trustees As explained more fully in the Trustees, responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes of company lawl 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 determines is necessary to enable the preparation of financial statements that are free f rom materia I 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 We have been appointed as auditor under the Companies Act 2006 and report in accordance with the Act and relevant regulations made or having effect thereunder. 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 IUKI 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. Extent to which the audit was capable of detecting irregulorities, including froud Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our re5pon5ibilities, outlined above, to detect material mi55tatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.. We made enquiries of management, and the Board of Trustees. This included the following: how they have identified. evaluated and complied with laws and regulations and whether they were aware of any instances of non-compliance,. their process for detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud,. and which internal controls have been established to mitigate risks related to fraud or non- compliance with laws and regulations. 12
THE OXFORDSHIRE CARE PARTNERSHIP Independent auditorfs report to the members of The Oxfordshire Care Partnership Icontinuedl Auditor's responsibilities for the audit of the financial statements (continued) We obtained an understanding of the legal and regulatory frameworks that are applicable to the Charity. These include, but are not limited to. compliance with Companies Act 2006. UK GAAP, Charities SORP and tax legislation. In addition, the Charity is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of f ines or litigation. We identified the following areas as those most likely to have such an effect.. health and safety, employment law and data protection. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Those Charged with Governance and other management and inspection of regulatory and legal correspondence if any. We considered management's incentives and opportunities for fraudulent manipulation of the financial Statements (including revenue recognition and the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to manipulate f inancial results and management bias in accounting estimates. Audit response to risks identif led We reviewed the financial statement disclosures and sample tested to supporting documentation to assess compliance with relevant laws and regulations discussed above,. We made enquiries of the Board of Trustees, management and internal audit; We reviewed the major incident log submitted to the Board of Trustees which includes instances of fraud and non-compliance with law5 and regulations and we read minutes of meetings of those charged with governance,. In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments,. assessed whether the judgements made in making accounting e5timate5 are indicative of a potential bias,. considered completeness of related party transactions,. and evaluated the business rationale of anv significant transactions that are unusual or outside the normal course of business; and We challenged assumptions made by management in their significant accounting estimates. Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedure5 performed and the further removed non-compliance with laws and regulations is f rom the events and transactions ref lected in the financial statements, the less likely we are to become aware of it. A further description of our responsibilities for the audit of the f inancial statements is located at the Financial Reporting Council's I"FRC's"I website at: https=//www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report. 13
THE OXFORDSHIRE CARE PARTNERSHIP Independent auditorfs report to the members of The Oxfordshire Care Partnership Icontinuedl Use of our report This report is made solely to the Charitable Company's members, as a body, in accordance with Chapter 3 of Part 16 ofthe 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 as a body, for our audit work, for this report, or for the opinions we have formed. Docu8b3Mdty. A11416013DD84AC Kyla Bellingall (Senior Statutory Auditor) For and on behalf of BDO LLP, statutory auditor Birmingham, UK Date 06 July 2021 BDO LLP is a limited liability partnership registered in England and Wales Iwith registered number OC3051271. 14
THE OXFORDSHIRE CARE PARTNERSHIP Statement of Financial Activities {Incorporating an Income and Expenditure Account) for the year ended 31 March 2021 Notes 2021 Unrestricted Funds £'ooo 2020 Unrestricted Funds £'ooo Income from: Charitable activities Investments Ilnterestl Other income 25,007 24.207 29 368 Total Income 25,373 24,236 Expendlture on: Charitable Activities 25,499 24,386 Total Expenditure 25,499 24,386 Net surplus l {deflcit) for the year {1261 11501 Reconciliation of funds: Total funds brought forward 3,706 3,856 Total funds carried forward at 31 March 3,580 3,706 All of the above results are derived from continuing activities. All gains and losses recognised in the year are included above. The notes on page5 18 to 24 form part of these financial statements.
THE OXFORDSHIRE CARE PARTNERSHIP Balance Sheet as at 31 March 2021 Notes 2021 Unrestricted Funds £'ooo 2020 Unrestricted Funds £'ooo Fixed Assets Tangible assets 534 475 Current assets Debtors: due within one year Cash and cash equivalents 519 3,355 3,874 177 5,017 5,194 Current liabilities Creditors: amounts falling due within one year Net current assets {8281 3,046 11,9631 3,231 Total assets less current liabilities Net assets 3,580 3,580 3,706 3,706 Funds: Unrestricted funds 3,580 3,706 Total funds io 3,580 3,706 The notes on pages 18 to 24 form part of these financial statements. The financial statements of The OKFordshire Care Partnership (Company Number 041525451 were approved by the Trustees on 01 July 2021 and signed on their behalf by.. Daniel Hayes Trustee 16
THE OXFORDSHIRE CARE PARTNERSHIP Statement of Cash Flows for the year ended 31 March 2021 2021 £'ooo 2020 £'ooo Cashflows from operating activities: Net cash used in operating activities Cash inflows/{outflows) from investing artivities: Interest received Purchase of f ixed assets Net cash used in investing activities 11,585) 12,6171 29 13201 12911 (77) {77) Change in cash and cash equivalents in the year 11,662) 12,9081 Cash and cash equivalents at the beginning of the year 5,017 7,925 Cash and cash equivalents at the end of the year 3,355 5,017 Net expenditure forthe year Adjustments for: Depreciation charges Increase in debtors Decrease in creditors Interest Received Net cash used In operatlng actlvlties (1261 11501 96 {3441 {1,2111 64 1501 12,4521 1291 12,6171 {1,5851 The notes on pages 18 to 24 form part of these financial statements.
THE OXFORDSHIRE CARE PARTNERSHIP Notes forming part of the financial statements for the year ended 31 March 2021 The company is a private company limited by guarantee and is registered in England and Wales. The company'5 registered address is l Des Roches Square, Witney, Oxfordshire, OX28 48E. The company's registered number is 04152545. Accounting policies Basis of preparation The financial statements have been prepared in accordance with Charities SORP IFRS 1021 (second edition October 20191 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, the Financial Reporting Standard applicable in the U K and Republic of Ireland IFRS 1021 and the Companies Act 2006. The Financial Statements of the Charity. which is a public benefit entity under FRSIO2, have been prepared on the historical cost basis. The principal accounting policies adopted in the preparation of the accounts are set out below and any changes restated in the previous year. The accounts are presented in £ sterling. The financial statements have been prepared up to 31 March 2021 which is within 7 days of the accounting reference period of 27 March 2021. Going Concern The financial statements have been prepared on a going concern basis. In the current business climate, the Board acknowledge the ongoing COVID-19 pandemic. In response to the pandemic, the Trustees are monitoring all aspects of the company's activities and have implemented operational changes to mitigate the financial impact of COVID-19. Actions have included a full reforecast of the financial position and cashflows for the period to March 2023 and stress testing the cash position to the extreme of zero occupancy. The contractual structure of OCP is such, that the void mechanism ensures OCP can continue to cover all contractual payments. Operating risk sits with the care provider, OSJCT, and therefore Trustees are of the view that there is limited risk to OCP as a result of Covid-19. Based on the reforecasts and the available liquid resource, the Trustees believe that, while uncertainty exists, this does not pose a material uncertainty that would cast doubt on the charity's ability to continue as a going concern for the foreseeable future, being a period of at least 12 months after the date on which the report and Financial Statements are signed. The Trustees, therefore, consider it appropriate for the accounts to be prepared on a going concern basis. Company status The Charity is a company limited by guarantee. The members of the company are the Trustees named on page 3 as well as The Orders of St John Care Trust and bpha. In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the Charitv. 18
THE OXFORDSHIRE CARE PARTNERSHIP Accounting Policies {continued) Fund accounting General funds are unrestricted funds, which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Investment income and gains are allocated to the appropriate f und. Income from charitable activities All incoming resources are included in the Statement of Financial Activities ISOFAI when the Charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. Revenue is accounted for on the basis of invoiced charges for residential and related care services, raised in accordance with Local Authority or residents, personal contracts and recognised over the period in which provided. Income excludes charges to private self-funding residents who occupy beds in the Charity's homes. Expenditure on charitable activities All expenditure is accounted for on an accruals basis and has been classif led under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they are allocated to activities on a basis consistent with use of the resources. Residential care costs are contractual payments to OSJCT in relation to the operation of the care homes. Support costs are those costs incurred directly in support of expenditure on the objects of the Charity and include rent and planned maintenance. Significant Accounting Estimates and Judgements In determining the carrying amounts of certain assets and liabilities, the Charity makes assumptions of the effects of uncertain future events on those assets and liabilities at the balance sheet date. The Charitfs estimates and assumptions are based on historical experience and expectation of future events and are periodically reviewed. Management consider the judgment applied to revenue recognition to be significant, in relation to whether OCP acts as principal or agent in its contractual arrangements. OCP is considered to act as principal in the contractual arrangement5 Wlth OCC. Accordingly, income received from OCC is recognised in full. OCP is not considered to act as principal in the contractual arrangements with self-funded residents. Accordingly, income received f rom self-funded residents is not recognised. Management considered the classif ication of leases between f inance and operating leases, and took the judgement that all leases should be classif led as operating leases. Operating leases Rentals applicable to operating leases are charged to the Statement of Financial Activities over the period in which the cost is incurred. Taxation status As a Charity, it is exempt from taxation on its charitable activities. 19
THE OXFORDSHIRE CARE PARTNERSHIP Accounting Policies {continued) Fixed Assets Expenditure incurred on assets held on a continuing basis for the activity of the company is capitalised where appropriate and included in fixed assets at cost. Depreciation is provided to write off the cost less residual value on a straight line basis over the useful economic life of the asset concerned. The following rate applies= Fixtures, f ittings and equipment: 5 years. Leasehold improvements.. remainder of lease. Financial Instruments The Company only has financial assets and 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. Cash and cash equivalents Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short- term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities. Income from charitable activities Incoming resources from charitable activities include fees for residential care from OCC and charges for the provision of services to the National Health Service. Other income includes £367,62012020: £0) received in relation to the ending the lease at Glebe House. The cost to exit the lease is included in expenditure on charitable activities under exceptional items. Expenditure on charitable activities 2021 É'ooo 2020 £'ooo Contractual payments to OSJCT Operating lease rentals- land & buildings Planned maintenance Management fees Professional fees Other Depreciation Governance costs (audit feel Exceptional items 16,953 6,126 843 933 54 16,213 6,119 817 896 91 96 16 475 64 14 169 Total charitable activities 25,499 24,386 20
THE OXFORDSHIRE CARE PARTNERSHIP Trustees, remuneration The Trustees neither received nor waived any emoluments during the year. No out of pocket expenses were reimbursed to Trustees Fixed Assets Furniture & Equipment £'ooo Cost At 31 March 2020 Additions At 31 March 2021 677 155 832 Depreciation At 31 March 2020 Depreciation charge At 31 March 2021 202 96 298 Net 8ook Value At 31 March 2020 475 At 31 March 2021 534 Debtors 2021 £'ooo 2020 £'ooo Trade debtors Other debtors and accrued income Total 511 174 519 177 Creditor5: amounts falling due within one year 2021 £'ooo 2020 £'ooo Trade creditors VAT Accruals and deferred income Amounts due to related undertakings Total 82 13 1,755 113 1.963 13 320 495 828 21
THE OXFORDSHIRE CARE PARTNERSHIP Operating Lease commitments At 31 March 2021 the company had total commitments under non-cancellable operating leases as follows: 2021 Land and Buildings £'ooo 2020 Land and Buildings £'ooo Due within l year Due within 1-5 years Due in more than 5 years 5,978 23,914 205,092 6,144 24,579 217,186 234,984 247,909 Capital commitments At 31 March 2021, commitments remaining to major maintenance projects were as follows.. 2021 £'ooo 2020 £'ooo Committed 76 181 76 181 Committed projects represent continued improvement works at six homes across the county. 10. Analysis of net assets between funds 2021 Unrestricted Fund5 £'ooo 2020 Unrestricted Funds £'ooo Funds balances are represented by: Fixed assets Current assets Current liabilities 534 3,874 {8281 475 5,194 11.9631 Total net assets 3,580 3,706 22
THE OXFORDSHIRE CARE PARTNERSHIP 11. Related Party Transartions bpha The income and expenditure account includes the following transactions between the Charity and bpha, which is one of two equal members in the company.. 2021 £'ooo 2020 £'ooo Expenditure.. Property lease rentals Management fee Planned maintenance 4,455 131 843 5,429 3,989 122 817 4,928 The amounts due to or from bpha at the year-end are.. 2021 £'ooo 2020 £'ooo Payable: Other costs 471 471 97 97 The Order5 of St John Care Trust (OSJCTI The income and expenditure account includes the following transactions between the Charity and OSJCT, which is one of the two equal members in the company.. 2021 £'ooo 2020 £'ooo Expenditure: Management fees Care services costs Other related costs 801 16,829 123 17,753 774 16,089 124 16,987 The amounts due to or from OSJCT at the year-end are: 2021 £'ooo 2020 £'ooo Payable: Salary recharge Unitary charge Care service costs 12 io 23 li 14 23
THE OXFORDSHIRE CARE PARTNERSHIP Related Party Transactions Icontinuedl Under the terms of the care services contract Oxfordshire County Council are contracted to purchase a minimum number of bed spaces in the OCP homes with the balance being available to OSJCT. In the event purchasing falls below these levels the Council either pay a 'void' rate or osjcr has the rights to offer the bed space to the N HS, other Local Authorities or private fee payers. Any such placements by OSJCT are at nil consideration to OCP. All income directly received by OSJCT and any associated risk e.g. providing required care at premium rates lagencyl. being exposed to doubtful debt or rising costs above contractual inflation that may arise, is the direct responsibility of OSJCT as care provider. 24