REGISTERED COMPANY NUMBER: 04105045 (England and Wales)
REGISTERED CHARITY NUMBER: 1088060
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Report of the Trustees and Consolidated Financial Statements For The Year Ended 31 August 2021 Doncaster Deaf Trust
Allotts Chartered Accountants, Statutory Auditor Kingswood Allotts Limited Sidings Court Lakeside Doncaster South Yorkshire DN4 5NU
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Doncaster Deaf Trust
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Contents of the Consolidated Financial Statements For The Year Ended 31 August 2021
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| Reference and Administrative Details | { | ||
| Report ofthe Trustees | 2 | to | 5 |
| Report ofthe Independent Auditors | 6 | to | 7 |
| Consolidated Statement of Financial Activities | 8 | to | 9 |
| Balance Sheet—Company and Consolidated | 10 | ||
| Consolidated Statement ofCash Flows | 11 | ||
| Notes to the Consolidated Statement ofCash Flows | 12 | ||
| NotestotheConsolidatedFinancialStatements | 13 | to | 27 |
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DoncasterDeaf Trust
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Reference and Administrative Details For The Year Ended 31 August 2021
TRUSTEES R Hazell (resigned 23.2.2021) Cc Mangle (resigned 23.2.2021) M J Gutowski - Chairman M W A Warde-Norbury J Taylor Mrs S M Dumican K Rushbrooke (appointed 5.10.2021) C Warde-Aldam COMPANY SECRETARY P Carter REGISTERED OFFICE Doncaster Deaf Trust Leger Way Doncaster South Yorkshire DN2 6AY REGISTERED COMPANY NUMBER 04105045 (England and Wales) REGISTERED CHARITY NUMBER 1088060 AUDITORS Allotts Chartered Accountants, Statutory Auditor Kingswood Allotts Limited Sidings Court Lakeside Doncaster South Yorkshire DN4 5NU BANKERS HSBC 1 High Street Doncaster South Yorkshire DN1 1EE SOLICITORS Veale Wasbrough Vizards Orchard Court Orchard Lane Bristol BS1 5WS SENIOR MANAGEMENT TEAM AL Johnson - Executive Principal P Carter - HR Manager T M Greaves - Chief Finance Officer (resigned March 2021)
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DoncasterDeaf Trust
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Report of the Trustees For The Year Ended 31 August 2021
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2021. The trustees have adopied the provisions of 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). Reference and Administrative Details The Charity is a charitable company limited by guarantee. It is governed by a Memorandum and Articles of Association. Reference and administrative details for the Charity are set out separately on page 1. The following Trustees served during the year (or have been appointed subsequently).
M J Gutowski R Hazell - resigned 23.2.2024 C Mangle - resigned 23.2.2021 M W A Warde-Norbury J Taylor Mrs S M Dumican Mrs K Rushbrooke - appointed 5.10.2021 C Warde-Aldam
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objects of the Charity are to advance education, training and care for deaf and hearing-impaired children and adults and those with communication and/or learning difficulties and, in particular, but without prejudice to the foregoing, to maintain and conduct in or near Doncaster a school or schools and college or colleges in furtherance of these objects.
The main activities of the Charity in furtherance of these objects are the operation of the Communication Specialist College Doncaster and the Doncaster School for the Deaf. The Charity also operates a day Nursery and a Residential Care Home for pupils at the School.
STRATEGIC REPORT
Achievement and performance
The Coilege has had a successful year offering a wide range of courses to students with a diverse range of disabilities and has seen the roll increase by 21 students, to a total of 105. We also continue to accommodate a small number of residential students in College although most students travel to college daily. Numbers on roll in School have increased by 5 to 34 and all pupils are progressing well in their communication and learning. The Children's Home continues to provide residential care for a small number of children, although most school children are day pupils. The plans to increase the Nursery capacity this year was impacted by Covid 19 during the Summer and Autumn term in 2020 but in the Spring and Summer of 2021 the average number of children increased from 82 to 100. The contract with the Department for Work and Pensions came to an end in August 2020. The employability service has developed a new funding stream to widen the service to adults outside of the DWP contract.
During the Covid-19 pandemic continuity of services was maintained with the College and Schoot using a blended learning approach with a mix of classroom learning, posted learning materials and virtual lessons. The Nursery remained open throughout, albeit with reduced numbers of children and a number of staff on furlough. The employability service also remained open and managed to support several Deaf adults into employment. The use of some of the premises for events had to be curtailed due to the Covid-19 risk assessment. The Trustees are grateful to numerous supporters who provided grants and donations to support the Charity's work that have benefited our students and pupils.
Funding for students at the College and pupils at the School is provided by UK local authorities and government agencies so access to the College and School is available to all students and pupils requiring specialist education provided irrespective of their financial circumstances. In addition, the Trust has obtained funding to provide bursaries to assist students and pupils to access the education provided in cases where hardship can be demonstrated. The Nursery attracts children from a wide range of backgrounds and although fees are payable by the parents or carers for places in the Nursery, government funding is available to subsidise some of the costs of the provision. In a number of cases places are offered entirely free of charge to parents and carers only choosing to use the Nursery for their weekly entitlement of free provision. Fundraising activitles
The charity does not carry out significant fundraising activities. However, a fundraising strategy has been implemented with the aim of increasing fundraising activity in the next financial year.
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Doncaster Deaf Trust
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Report of the Trustees For The Year Ended 31 August 2021
STRATEGIC REPORT
Financial review
Financial position
The Statement of Financial Activities comprises the operational activity of nursery the school and college for the twelve months 1st September 2020 to 31st August 2021 together with the returns on the investment of designated and restricted funds and actuarial loss on the defined benefit pension scheme for non-teaching staff. The Trust had an overall increase in funds of £1,759,000. This includes a decrease in the actuarial valuation of the defined benefit pension scheme deficit of £1,201,000. The Trust had a surplus of £558,000 before making allowance for these deferred costs of the defined benefit pension scheme.
Assets and Investments
The tangible fixed assets of the Charity, namely the freehold land, buildings, plant, equipment and motor vehicles, are fully employed in the operation of the school and college. Maintenance and repairs expenditure for the upkeep and modernisation of the property, including that required for compliance with current regulatory and legal standards, is charged to the Statement of Financial Activities as incurred. The Trustees consider that the modernisation and improvement element of this category of expenditure does not increase the value of the property for its existing use and therefore consider it inappropriate to reflect this as an increase in the overall value of the Charity's assets.
Monies received from donors or set aside by the Trustees for specific purposes (restricted and designated funds) are invested in accordance with the Trustees' investment policy and these investments are valued at market value.
The Trustees’ policy is to manage the investments to maximise the return over a short to medium time horizon. The Trustees’ policy on risk is to limit equity exposure to not more than 75% of the value of funds invested, with at least 25% of investments held as gilts or corporate bonds.
The Trustees have appointed Investec Wealth and Investment Ltd to manage the Trust's investment portfolio. The Trustees receive reports on the investment returns and market value of the investment portfolio at 6 monthly intervais. The funds of the Charity oo The Charity held unrestricted funds of £4,399,000 at 31st August 2021 comprising designated funds of £3,485,000 and general reserves of £914,000 (excluding the Pension Reserve).
The Tangible Fixed Asset Designated Fund of £2,010,000 represents the book value of the property and other tangible fixed assets (other than the Doncaster Deaf Trust Endowment property and assets bought with restricted funds) held to fulfit the objects of the Charity by operation of the nursery, school and college.
The Building and Equipment Designated Fund of £175,000 represents monies invested for future use in the expansion and improvement of the school and college facilities.
The Charities and Risk Designated Fund of £1,300,000 represents monies invested for future use as part of the Trustees risk management policy and is available to cover funding shortfalls or unexpected operational costs of the nursery, school and college. The Trustees policy is to hold sufficient free reserves to cover 2 months operational expenditure.
At 31st August 2021 total reserves (unrestricted funds excluding the pension reserve and tangible fixed asset fund) stood at £2,389,000 which is sufficient to cover 2 months operational expenditure.
The Trustees therefore confirm that on a fund by fund basis the assets are available and adequate to fulfil the obligations of the Charity.
The consolidated funds of the Charity
The Charity held unrestricted funds of £4,399,000 at 31st August 2021 comprising designated funds of £3,485,000 and general reserves of £914,000 (excluding the Pension Reserve).
At 3ist August 2021 total reserves (unrestricted funds excluding the pension reserve and tangible fixed asset fund) stood at £2,389,000 which is sufficient to cover 2 months operational expenditure.
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DoncasterDeaf Trust Report of the Trustees For The Year Ended 31 August 2021
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STRATEGIC REPORT
Future plans The Trustees continue to seek to attract new children, pupils and students and to grow the Nursery, School and College provision.
Relationships with other organisations
The former Chair of Trustees and the Executive Principal are also Trustees of The Cherry Glenville Fund (Registered Charity No 701253), which awards bursaries to advance the education of hearing-impaired students.
The Charity is the corporate Trustee of Doncaster Deaf Trust Endowment (Registered Charity No 529410) which owns part of the site on which the school and college operate. Doncaster Deaf Trust Endowment has made this endowed property available to Doncaster Deaf Trust on an ongoing basis.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
The Trustees have delegated day to day management of the Charity’s activities to the Executive Principal, Alexis Johnson, with support from senior management teams for the various operations who meet regularly. The Board of Trustees meets on a quarterly basis to provide overall governance of the charity, but has also delegated strategic oversight of the school and college to two separate Boards of Governors. The School and College Governing Boards meet 3 times a year. A number of advisory sub-committees of the Board also meet regularly for more detailed consideration of certain aspects of the charity's operations. The remuneration of key management personnel is determined by the Trustees after considering market rates and is reviewed every year as part of the staff appraisal process.
The recruitment and appointment of new Trustees and Governors takes cognisance of gender, ethnic origin and the skills, abilities and experience required for the running of the charity.
The Charity is also a member of the National Association of Specialist Colleges (NATSPEC), the National Association of Independent and Non-Maintained Special Schools (NASS) and the Association of Chief Executives of Voluntary Organisations (ACEVO) and these associations provide various opportunities to share best practice amongst similar charities and organisations. ;
Risk Management and Financial Controls
The Trustees have overall responsibility for ensuring that the Charity has an effective system of risk management. The major risks to which the charity is exposed are reviewed by the Trustees and School and College Governors reguiarly and policies and procedures have been established to minimise exposure to these risks. The Trustees also have appropriate insurance cover in place to mitigate any potential losses and costs which could be incurred. in particular, the Trustees acknowledge their responsibility for ensuring the Charity has an effective system of internal financial controls. It is recognised by the Trustees that such a system is designed to manage rather than eliminate the risk of failure to achieve the Charity’s objectives, and can only provide reasonable, not absolute, reassurance against material misstatement or loss. The Trust appoints a Finance Manager to implement the financial controls. The Trustees attend the Finance and Audit Committee to ensure oversight of the financial management of the Trust operations. The Trust take additional advice from the Charity's auditors where potential issues are identified as the system is reviewed. The Trustees also acknowledge their responsibilities for management of the shortfall in funding of the non-teaching pension provision and take regular actuarial advice to remedy this shortfall which is disclosed in the financial statements in accordance with FRS102.
The Trust appoints a Human Resources Manager and a Health and Safety Officer to implement the Trust's policies and procedures with regards to the compliance with health and safety and employment legislation.
The Trust's operations are also subject to external scrutiny and audit by regulatory bodies and government agencies responsible for ensuring appropriate use and control of funding provided and reports received from these organisations are considered by the Governors and Trustees as part of their review process.
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees (who are also the directors of Doncaster Deaf 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).
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DoncasterDeaf Trust Report of the Trustees For The Year Ended 31 August 2021
STATEMENT OF TRUSTEES’ RESPONSIBILITIES - continued
Company law requires the trustees to prepare financial statements for each financial year 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
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select suitable accounting policies and then apply them consistently;
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- observe the methods and principles in the Charity SORP; - make judgements and estimates that are reasonable and prudent: - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
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:
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there is no relevant audit information of which the charitable company's auditors are unaware; and
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the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.
AUDITORS
The auditors, Ailotts Chartered Accountants, Statutory Auditor, will be proposed for re-appointment at the forthcoming Annual General Meeting.
Report of the frustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on#2 Kebrugry 2022 and signed on the board's behalf by:
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Report of the Independent Auditors to the Members of
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Doncaster Deaf Trust
Opinion
We have audited the consolidated financial statements of Doncaster Deaf Trust (the ‘parent’) and its subsidiary for the year ended 31 August 2021 which comprise the Consolidated Statement of Financial Activities, the Company Balance Sheet and Consolidated Balance Sheet, the Consolidated Statement of Cash Flows, 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 (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of[freland][ and][the][Charities] SORP 2019.
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In our opinion the financial statements: - give a true and fair view of the state of the charitable company's and group's affairs as at 31 August 2021 and of the group's incoming resources and application of resources, including its Income and expenditure, for the year then ended;
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- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; - have been prepared in accordance with the requirements of the Companies Act 2006; and - have been prepared in accordance with the Charities SORP 2019.
Basis for opinion
We conducted our audit in accordance with Internationa! 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 requiraments that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requiraments. 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’ 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 concer 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.
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 Report of the tndependent Auditors 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.
In connection with our audit of the financial statements, 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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.
Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit: ~ _ the information given in the Report of the Trustees (incorporating the strategic report and the directors’ report) for the financial year for which the financial statements are prepared is consistent with the financial statements; and : - _ the report of the Trustees has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.
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We have nothing to report in respect of the following matters where 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 from branches not visited by us; or
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- the financial statements are not in agreement with the accounting records and retums; or - certain disclosures of trustees' remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit; or the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemption from the requirement to prepare a Group Strategic Report or in preparing the Report of the Trustees.
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Report of the Independent Auditors to the Members of DoncasterDeaf Trust
Responsibilities of trustees
As explained more fully in the Statement of Trustees’ Responsibilities, 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 group and 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.
Auditors’ responsibilities for the audit of the financial statements
We have been appointed auditor under the Companies Act 2006 and report in accordance with this Act. 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 a Report of the Auditors 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.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
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 irreguiarities, including fraud. The specific procedures for this engagement and the extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
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— Enquiry of management and those charged with governance around actual and potential litigation and claims;
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- Enquiry of management and review of correspondence to identify any instances of non-compliance with laws and regulations;
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- Review of minutes of trustees’ meetings. - Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regutations
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- Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
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 Report of the Auditors.
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 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 auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibllity to anyone other than the charitable company and the charitable7co! ny's members Statutory Auditor)as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of Allotts Chartered Accountants, Statutory Auditor Kingswood Allotts Limited Sidings Court
Lakeside Doncaster South Yorkshire DN4 5NU
Date: 22 February 2022
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Doncaster Deaf Trust
Consolidated Statement of Financial Activities {Incorporating an Income and Expenditure Account) For The Year Ended 31 August 2021
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|Unrestricted|Designated|Restricted|
|funds|funds|fund|
|Notes|£'000|£'000|£°000|
|INCOME|AND|ENDOWMENTS|FROM|
|Donations|and|legacies|3|6|-|66|
|Charitable|activities|6|
|Charity's|educational|operations|8,854|-|85|
|Other|trading|activities|4|44|-|-|
|investment|income|5|24|-|-|
|Other income|7|87|-|-|
|Total|8,985|-|151|
|EXPENDITURE|ON|
|Charitable|activities|8|:|
|Charity's|educational|operations|8,565|57|163|
|NET|INCOME|BEFORE|
|PENSION|COST AND|
|INVESTMENT GAINS|420|(57)|(12)|
|FRS102|Pension|cost|(322)|-|-|
|Net|gains/{losses)|on|investments|210|-|-|
|NET INCOME/(EXPENDITURE)|308|(57)|(12)|
|Other recognised|gains/{losses)|
|Actuarial|gains/(losses)|on|defined|benefit schemes|1,523|-|-|
|Net movement|in funds|1,831|(57)|(12)|
|RECONCILIATION|OF|FUNDS|
|Total|funds|brought forward|(6,526)|3,542|326|
|TOTAL FUNDS|CARRIED|FORWARD|(4,695)|3,485|314|
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The notes form part of these financial statements
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Doncaster Deaf Trust
Consolidated Statement of Financial Activities (Incorporating an Income and Expenditure Account) For The Year Ended 31 August 2021
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|2021|2020|
|Endowment|Total|Total|
|fund|funds|funds|
|Notes|£'000|£'000|£'000|
|INCOME|AND|ENDOWMENTS|FROM|
|Donations|and|legacies|3|-|72|71|
|Charitable|activities|6|
|Charity’s|educational|operations|-|8,939|8,161|
|Other trading|activities|4|-|14|106|
|Investment|income|§|-|24|30|
|Other income|7|:|87|—_/8|
|Totai|-|9,136|8,446|
|EXPENDITURE|ON|
|Charitable|activities|8|
|Charity’s|educational|operations|3|8,788|8,192|
|NET|INCOME|BEFORE|
|PENSION|COST|AND|
|INVESTMENT|GAINS|(3)|348|254|
|FRS102|Pension|cost|-|(322)|(318)|
|Net|gains/(losses)|on|investments|:|210|(39)|
|NET|INCOME/(EXPENDITURE)|(3)|236|(103)|
|Other|recognised|gains/{losses)|
|Actuarial|gains/{losses)|on|defined|benefit|
|schemes|-|1,523|(1,012)|
|Net|movement|in|funds|(3)|1,759|(1,115)|
|RECONCILIATION|OF|FUNDS|
|Total funds|brought forward|590|(2,068)|(953)|
|TOTAL FUNDS CARRIED FORWARD|587|(309)|(2,068)|
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The notes form part of these financial statements
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Doncaster Deaf Trust
Balance Sheet 31 Auqust 2021
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|Group|Group|Charity|Charity|
|2021|2020|2021|2020|
|Notes|£000|£000|£'000|£°000|
|FIXED|ASSETS|
|Tangible|assets|15|2,743|2,808|2,156|2,218|
|CURRENT ASSETS|
|Debtors|16|618|396|618|396|
|Investments|17|1,461|1,265|1,461|1,265|
|Cash|at|bank|and|in|hand|965|832|965|832|
|3,044|2,493|3,044|2,493|
|CREDITORS|
|Amounts|falling|due|within|one|year|18|(487)|(559)|(487)|(559)|
|NET CURRENT ASSETS|2,557|1,934|2,557|1,934|
|TOTAL ASSETS|LESS CURRENT|LIABILITIES|5,300|4,742|4,713|4,152|
|PENSION|LIABILITY|22|(5,609)|(6,810)|(5,609)|(6,810)|
|NET ASSETS/{LIABILITIES)|(309)|— (2,068)|(896)|(2,658)|
|FUNDS|21|
|Unrestricted|funds|(1,240)|(2,984)|(1,210)|(2,984)|
|Restricted|funds|314|326|314|326|
|Endowment|funds|587|590|-|-|
|TOTAL FUNDS|(309)|(2.068)|(896)|(2,658)|
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The finangial statements were approved by the Board of Trustees and authorised for issue on 22 February 2022 and were
signed behaif by:
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M J Gutowski- Chairman
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The notes form part of these financial statements
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DoncasterDeaf Trust
Consolidated Statement of Cash Flows For The Year Ended 31 August 2021
| 2021 | 2020 | ||
|---|---|---|---|
| Notes | £'000 | £°000 | |
| Cash flows from operating activities | |||
| Cash generated from operations | 1 | 98 | 105 |
| Net cash provided byoperating activities | 98 | 105 | |
| Cash flowsfrom investing activities | |||
| Purchase oftangible fixed assets | - | (36) | |
| Purchase offixed asset investments | (296) | (170) | |
| Sale offixed asset investments | 310 | 184 | |
| interest received | 24 | 30 | |
| Net cash provided by investing activities | 38 | 8 | |
| Cash flowsfrom financing activities | |||
| Expenditure attributable toendowment | (3) | _ | |
| Net cash (used in)/provided byfinancing activities | (3) | - | |
| Change incash and cash equivalents in | |||
| the reporting period | 133 | 113 | |
| Cash and cash equivalents atthe | |||
| beginning ofthe reporting period | 832 | 719 | |
| Cash and cash equivalents atthe end of | |||
| thereportingperiod | 965 | 832 |
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The notes form part of these financial statements
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Doncaster Deaf Trust
Notes to the Consolidated Statement of Cash Flows For The Year Ended 31 August 2021
- RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES
| ACTIVITIES | ||
|---|---|---|
| 2021 | 2020 | |
| £'000 | £'000 | |
| Net income/(expenditure) forthe reporting period (as perthe | ||
| Statement ofFinancial Activities) | 236 | (103) |
| Adjustments for: | ||
| Depreciation charges | 65 | 67 |
| (Gain)/losses on investments Interest received |
(210) (24) |
39 (30) |
| Expenditure attributable to endowment | 3 | - |
| Increase in debtors | (222) | (147) |
| Decrease in creditors | (72) | (39) |
| Difference between pension charge and cash contributions | 322 | 318 |
| Netcashprovidedbyoperations | 98 | 105 |
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ANALYSIS OF CHANGES IN NET FUNDS
| At 1.9.20 | Cash flow | At 31.8.21 | ||
|---|---|---|---|---|
| £'000 | £'000 | £'000 | ||
| Net cash | ||||
| Cash at bank and in hand | 832 | 133 | 965 | |
| 832 | 133 | 965 | ||
| Liquid resources | ; | |||
| Deposits included in cash | - | - | - | |
| Current asset investments | 1,265 | 196 | 1,461 | |
| 1,265 | 496 | 1,461 | ||
| Total | 2,097 | 329 | 2,426 |
The notes form part of these financial statements
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- LEGAL FORM
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DoncasterDeaf Trust Notes to the Consolidated Financial Statements For The Year Ended 34 August 2021
The charitable company is limited by guarantee. Its registered office is Leger Way, Doncaster, DN2 6AY, Its principal activities are the operation of the Communication Specialist College Doncaster and the Doncaster School for the Deaf. The Charity also operates a day Nursery and a Residentiat Care home for pupils at the school.
- ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2015)’, Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of treland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets. Going concern The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concem. The trustees make this assessment in respect of a period of one year from the date of approval of the financial statements. There are no material uncertainties about the charity's ability to continue its operations.
Fees and grants receivable
Grants for the purchase of fixed assets are recognised in full in the Statement of Financial Activities in the year in which they are received. Credit is taken for other grants and fees when conditions for entitlement are satisfied in the Statement of Financial Activities for amounts received or receivable in respect of the current financial year.
Donations
Donations received for the general purposes of the charity are included as unrestricted funds. Donations for activities restricted by the wishes of the donor are taken to restricted funds where these wishes are legally binding on the Trustees.
Legacies
For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor's intention to make a distribution.
Investment income
income arising from bank and building society deposits is accounted for on an accruals basis. Income received from investments is disclosed in the Statement of Financial Activities on the basis of the net amount received plus income tax reclaimable.
Gifts and Intangible income
ltems of low monetary value or where monetary value is difficult to ascertain, are not included in the Statement of Financial Activities. Materlal items are valued at a reasonable estimate of their gross value to the charity and included in donations.The value of services provided by volunteers has not been included.
Netted off expenses and related income Income and expenses relating to a car body shap and a hairdressing salon, both of which are run by the charity as part of training courses, are netted off in the Statement of Financial Activities under expenditure relating to teaching and care of students. The Trustees consider that the income generated merely offsets part of the overall costs of running the specific courses for students. This treatment is considered to show a more realistic and true and fair view of the charity's activities.
Resources expended
Resources expended are accounted for on an accruals basis. Certain expenditure is apportioned to cost categories based on the estimated amount attributable to that activity in the year. These estimates are based on staff time or the floor area as appropriate. The irrecoverable element of VAT is included with the item of expense to which it relates.
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Doncaster Deaf Trust
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Notes to the Consolidated Financial Statements - continued For The Year Ended 31 August 2021
- ACCOUNTING POLICIES - continued
Tangible fixed assets Freehold land is not depreciated. Depreciation of other assets is provided at rates calculated to write off the excess of cost over estimated residual amount evenly over the estimated useful economic lives of each class of asset, subject to annual review.
These rates are currently as follows:
Freehold buildings 2% per annum straight line Furniture, plant and equipment 10% per annum straight line Computer equipment 25% per annum straight line Motor vehicles 20% per annum straight line Antiques and paintings 0% per annum straight tine
All tangible fixed assets are stated at cost less depreciation where appropriate.
No assets costing less than £1,000 are capitalised.
Leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities as incurred.
investments
Investments are included at market vaiue at the year end.
Gains and losses on disposal and revaluation of investments are charged or credited to the Statement of Financial Activities.
Taxation , The charity is exempt from corporation tax on its charitable activities.
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.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income and gains are allocated to the appropriate fund.
Grants and bursaries
Grants and bursaries from restricted funds are included in the period for which the award is given.
Maintenance and repairs
Maintenance and repairs expenditure for the upkeep and modernisation of the property, including that required for compliance with current regulatory and legal standards, is charged to the Statement of Financial Activities as incurred. The trustees consider that the modernisation and improvement element of this category of expenditure does not increase the value of the property for its existing use and therefore consider it inappropriate to reflect this as an increase in the overall value of the charity's assets.
Pension schemes
The charity contributes to the Teachers' Superannuation Scheme at rates set by the Scheme Actuary and advised to the Trustees by the Scheme Administrator. The scheme is a multi-employer defined benefit final salary scheme where the share of the assets and liabilities applicable to each employer is not identified. Accordingly, these financial statements include pension costs payable on a defined contribution basis in accordance with Financial Reporting Standard 102.
Contributions to the scheme are based on applicable pension costs across the participating organisations taken as a whole. The pension charge recorded in these accounts is the amount of contributions payable in the accounting year.
The charity also contributes to a defined benefit scheme for non teaching staff administered by the South Yorkshire Pension Authority. Further details can be found in note 22.
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Doncaster Deaf Trust
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Notes to the Consolidated Financial Statements - continued For The Year Ended 31 August 2021
ACCOUNTING POLICIES - continued
Foreign currencies
Monetary assets are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the Statement of Financial Activities.
| 3. | DONATIONS AND LEGACIES | ||||
|---|---|---|---|---|---|
| 2021 | 2020 | ||||
| £'000 | £'000 | ||||
| Donations | comme | ai | |||
| 4. | OTHERTRADING ACTIVITIES | ||||
| : | 2021 | 2020 | |||
| £'000 | £°000 | ||||
| Room hire | 14 | 94 | |||
| Sports hall hire | - | 9 | |||
| Car parking | - | 3 | |||
| 4 | —106 | ||||
| 5. | INVESTMENT INCOME | ||||
| 2021 | 2020 | ||||
| £'000 | £'000 | ||||
| Interest on cash deposits | 1 | 2 | |||
| Listed investments | 23 | 28 | |||
| 24 | 30 | ||||
| 6. | INCOME FROM CHARITABLE | ACTIVITIES | |||
| 2021 | 2020 | ||||
| Activity | £'000 | £°000 | |||
| Fees and grants from funding | |||||
| authorities | Charity'’s educational operations | 8,939 | 7,844 | ||
| Training forWork student | |||||
| outcomes | Charity‘s educational operations | - | 317 | ||
| 8,939 | 8,161 | ||||
| 7. | OTHER INCOME | ||||
| 2021 | 2020 | ||||
| £'000 | £'000 | ||||
| Sundry income | 7 | 7 | |||
| Coronavirus support grants | 80 | 71 | |||
| 87 | 78 |
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- CHARITABLE ACTIVITIES COSTS
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Doncaster Deaf Trust
Notes to the Consolidated Financial Statements - continued For The Year Ended 31 August 2021
| 8. | CHARITABLE ACTIVITIES COSTS | ||
|---|---|---|---|
| Direct | |||
| Costs (see | |||
| note 9) | |||
| £'000 | |||
| Charity's educational operations | 8,788 | ||
| 9. | DIRECT COSTS OF CHARITABLE ACTIVITIES | ||
| 2021 | 2020 | ||
| £'000 | £'000 | ||
| Teaching salaries and related expenses | 5,729 | 5,344 | |
| Books and apparatus | 68 | 66 | |
| Food and allowances | 274 | 213 | |
| Clothing and Jaundry | 6 | 7 | |
| Transport and travel expenses | 26 | 46 | |
| Training | 41 | 32 | |
| Exam and tuition fees | 18 | 89 | |
| Miscellaneous teaching expenses | 2 | 3 | |
| Other salaries and related expenses | 1,385 | 1,449 | |
| Light, heatand power | 245 | 197 | |
| Maintenance and repairs | 156 | 124 | |
| Insurance | 59 | 114 | |
| Printing, postage and stationery | 26 | 18 | |
| Furniture and equipment | 49 | 24 | |
| Cleaning | 30 | 18 | |
| Computer running costs | 72 | 30 | |
| Telephone | 14 | 11 | |
| Legal and professional fees | 222 | 84 | |
| Marketing and advertising | 8 | 21 | |
| Miscellaneous running expenses | 223 | 197 | |
| Governance costs | 70 | 68 | |
| Depreciation | 65 | 67 | |
| 8,788 | 8,192 | ||
| 10. | NETINCOME/(EXPENDITURE) | ||
| Net income/(expenditure) is stated after charging/(crediting): | |||
| 2021 | 2020 | ||
| £'000 | £'000 | ||
| Depreciation -owned assets | 65 | 67 | |
| Auditors’ remuneration | 9 | 8 | |
| Operatingleases | 43 | 40 |
- TRUSTEES’ REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 August 2021 nor for the year ended 31 August 2020.
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DoncasterDeaf Trust
Notes to the Consolidated Financial Statements - continued For The Year Ended 31 August 2021
TRUSTEES’ REMUNERATION AND BENEFITS - continued
Trustees' expenses
There were no trustees expenses during the year (2020: £267).
Indemnity insurance
The charity has taken out indemnity insurance on behalf of the trustees, governors and officers, the cost of which is charged in the financial statements and in the year amounted to £2,837 (2020: £1,289). This insurance protects the charity from loss arising from the neglect or default of its trustees, employees or agents and indemnifies the trustees or other officers against the consequence of any neglect or default on their part. The insurance provides cover up to £2,000,000 on any one claim.
12,
STAFF COSTS
| 2021 | 2020 | |
|---|---|---|
| £'000 | £'000 | |
| Wages and salaries | 5,848 | 5,522 |
| Social security costs | 509 | 475 |
| Pension costs | 813 | 802 |
| 7,170 | 6,799 | |
| The average monthly numberofemployees during the yearwas as follows: | ||
| 2021 | 2020 | |
| Teaching and care ofstudents | 195 | 186 |
| Non educational | 56 | 54 |
| 251 | 240 |
The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:
| 2021 | 2020 | |||
|---|---|---|---|---|
| £60,001 | -£70,000 | £70,000 | 3 | 2 |
| £70,001 | -£80,000 | £80,000 | 2 | 2 |
| £90,001 | - | £100,000 | 4 | 1 |
| —) | —> |
Retirement benefits are accruing to these 5 employees under a defined benefit scheme (2020: 5).
Key management personnel
The key management personnel of the charity comprise the senior management team as listed on page 1. The total amount of employee benefits (including employer pension contributions) received by key management personnel for their services to the charity was £275,462 (2020: £281,513).
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DoncasterDeaf Trust
| Notes to the Consolidated | Notes to the Consolidated | Financial Statements | Financial Statements | - continued | - continued | ||
|---|---|---|---|---|---|---|---|
| ForThe Year Ended 31 August | 2021 | ||||||
| 13. | COMPARATIVES FOR THE | STATEMENT OF FINANCIAL ACTIVITIES | |||||
| Unrestricted | Designated | Restricted | Endowment | Total | |||
| funds | funds | fund | fund | funds | |||
| £'000 | £'000 | £'000 | £'000 | £'000 | |||
| INCOME AND | |||||||
| ENDOWMENTS FROM | |||||||
| Donations and legacies | 30 | - | 41 | - | 71 | ||
| Charitable activities | |||||||
| Charity‘s educational | |||||||
| operations Other trading activities |
7,999 106 |
- - |
162 - |
- - |
8,161 106 |
||
| investment income | 30 | - | - | - | 30 | ||
| Other income | 78 | - | - | - | 78 | ||
| Total | 8,243 | - | 203 | - | 8,446 | ||
| EXPENDITURE ON | |||||||
| Charitable activities | |||||||
| Charity's educational | |||||||
| operations | 8,028 | §9 | 102 | 3 | 8,192 | ||
| NET INCOME BEFORE | |||||||
| PENSION COSTAND | |||||||
| INVESTMENT LOSSES | 215 | (59) | 104 | (3) | 254 | ||
| FRS102 Pension cost | (318) | - | - | - | (318) | ||
| Net gains/(losses)} on | |||||||
| investments | (39) | - | - | - | {39) | ||
| NET | |||||||
| INCOME/(EXPENDITURE} | (142) | (59) | 101 | (3) | (103} | ||
| Other recognised | |||||||
| gains/(losses) | |||||||
| Actuarial gains/(losses) on | |||||||
| defined benefitschemes | (1,012) | - | - | - | (1,012) | ||
| Net movement in funds | (1,164) | (59) | 104 | (3) | (1,415) | ||
| RECONCILIATION OF | |||||||
| FUNDS | |||||||
| Total funds brought | |||||||
| forward | (5,372) | 3,601 | 225 | 593 | (953) | ||
| TOTAL FUNDS CARRIED | |||||||
| FORWARD | (6,526) | 3,542 | 326 | 590 | (2,068) | ||
| 14. | DEFINED BENEFIT CONTRIBUTION COSTS | ||||||
| 2021 | 2020 | ||||||
| £'000 | £'000 | ||||||
| Current service cost | 598 | 599 | |||||
| Past service cost | - | 41 | |||||
| Employer contributions | (396) | (395) | |||||
| Administration expanses | 7 | 8 | |||||
| Net interest/return on assets | 113 | 95 | |||||
| 322 | 318 |
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Doncaster Deaf Trust
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Notes to the Consolidated Financial Statements - continued
For The Year Ended 31 August 2021
15. TANGIBLE FIXED ASSETS
| 15. | TANGIBLE FIXED ASSETS | |||||
|---|---|---|---|---|---|---|
| Furniture, | ||||||
| Group | Freehold | Freehold | plant and | Motor | ||
| land £'000 |
buildings £'000 |
equipment £'000 |
vehicles £'000 |
Totals £'000 |
||
| COST | ||||||
| At 1 September 2020 and | ||||||
| 31 August 202% | 800 | 2,060 | 1,143 | 53 | 4,056 | |
| DEPRECIATION | ||||||
| At 1 September2020 | - | 336 | 861 | 51 | 1,248 | |
| Charge foryear | - | 20 | 44 | 4 | 65 | |
| At 31 August 2021 | - | 356 | 905 | 52 | 1,313 | |
| NET BOOKVALUE | ||||||
| At 31 August 2021 | 800 | 1,704 | 238 | 1 | 2,743 | |
| At 31 August 2020 | 800 | 1,724 | 282 | 2 | 2,808 | |
| Furniture, | ||||||
| Charity | Freehold land £'000 |
Freehold buildings £'000 |
plantand equipment £°000 |
Motor vehicles £'000 |
Charity total £'000 |
|
| COST | ||||||
| At 1 September 2020 and | ||||||
| 31 August 2021 | 600 | 1,610 | 1,143 | 53 | 3,406 | |
| DEPRECIATION | ||||||
| At 1 September 2020 | - | 276 | 861 | 51 | 1,188 | |
| Charge foryear | - | 17 | 44 | 4 | 62 | |
| At 31 August2021 | - | 293 | 905 | 52 | 1,250 | |
| NETBOOK VALUE | ||||||
| At 31 August 2021 | 600 | 1,317 | 238 | 1 | 2,156 | |
| At 31 August 2020 | 600 | 1,334 | 282 | 2 | 2,218 | |
| 16. | DEBTORS: AMOUNTS FALLING | DUE WITHIN | ONE YEAR | |||
| Group | Group | Charity | Charity | |||
| 2021 | 2020 | 2021 | 2020 | |||
| £'000 | £'000 | £'000 | £'000 | |||
| Other debtors | 577 | 393 | 577 | 393 | ||
| Prepayments | 40 | 3 | 40 | 3 | ||
| Accrued income | 1 | - | 1 | - | ||
| 618 | 396 | 618 | 396 |
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- CURRENT ASSET INVESTMENTS
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DoncasterDeaf Trust
Notes to the Consolidated Financial Statements - continued For The Year Ended 31 August 2021
| CURRENT ASSET INVESTMENTSASSET INVESTMENTSINVESTMENTS | ||||
|---|---|---|---|---|
| Group | Group | Charity | Charity | |
| 2021 | 2020 | 2021 | 2020 | |
| £'000 | £'000 | £000 | £'000 | |
| Market value at 1 September 2020 |
1,265 | 1,318 | 4,265 | 1,318 |
| Add: Acquisitions atcost | 302 | 174 | 302 | 174 |
| Less: Disposals at market value | (293) | (196) | (293) | (196) |
| Net (loss)/gain on revaluation at 31 August 2021 | 194 | (27) | 194 | (27) |
| Movement in cash account | (7} | (4) | (7) | (4) |
| 1,461 | 1,265 | 1,461 | 1,265 | |
| Costas at 31 August 2021 | 1,149 | 1,075 | 1,149 | 4,075 |
| The gain on investment assets included in the | ||||
| Statement of Financial Activities comprises:- | ||||
| Unrealised gain/{loss)on revaluation | 194 | (27) | 194 | (27) |
| Profit/(loss) on disposal from previous market | ||||
| value | _16 | __(42) | __16 | —(12) |
| 219 | vane22) | meal | 38) |
During the year a surplus over original cost on disposal arose of £88,000 (2020: £33,000).
investments in individual entities held which are over 5% of the portfolio by value at 37 August 2021 and 31 August 2020 are:-
| Market | Market | |
|---|---|---|
| value | value | |
| 2021 | 2020 | |
| £'000 | £'000 | |
| Threadneedle Inv UK Equity Income | 74 | 59 |
| Jupiter UT Managers UK Special Situations | 64 | 48 |
| JP Morgan Funds Ltd US Equity IncK Net Inc | - | 62 |
| M&G Securities Lid Optimal Income J | - | 63 |
| Liontrust Fund ParSpecial] Situations Ins Inc |
64 | 86 |
| Allianz Global Investment Gilt | 82 | 84 |
| JP MorganAm UK Ltd UK Equity Core E Net Inc | 107 | 86 |
| Vanguard Funds Pic | 59 | 84 |
| 450 | 569 | |
| Investments are represented by: | ||
| Listed UK Securities | 681 | 493 |
| Listed Overseas Securities | 765 | 750 |
| Cash held pending investment | 15 | 20 |
| 1,461 | 1,265 |
These figures relate to the Group and Charity.
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- CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
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DoncasterDeaf Trust
Notes to the Consolidated Financial Statements - continued For The Year Ended 31 August 2021
| Group | Group | Charity | Charity | |||
|---|---|---|---|---|---|---|
| 2021 | 2020 | 2021 | 2020 | |||
| £°000 | £'000 | £'000 | £'000 | |||
| Trade creditors | 223 | 130 | 223 | 430 | ||
| Othertaxes and social security | 113 | 110 | 113 | 4110 | ||
| Accruais Deferred income |
119 32 |
129 190 |
119 32 |
129 190 |
||
| 487 | 559 | 487 | 559 | |||
| Deferred income | . | |||||
| Balance as at 1 September 2020 |
490 | 220 | 190 | 220 | ||
| Fees received | 8,645 | 7,638 | 8,615 | 7,638 | ||
| Released to Statement of Financial Activities | (8,773) | (7,668) | (8,773) | (7,668) | ||
| Balance as at31 August2021 | 32 | 190 | me | ele) | ||
| 19. | LEASINGAGREEMENTS | |||||
| Minimum tease payments under non-canceltable operating leases fall due as follows: | ||||||
| Group | Group | Charity | Charity | |||
| 2021 | 2020 | 2021 | 2020 | |||
| £'000 | £'000 | £'000 | £'000 | |||
| Within one year | 31 | 35 | 31 | 35 | ||
| Between oneand five years | __at | __ 51 | __2i | __51 | ||
| —52 | — 86 | weno | — 6 | |||
| 20. | NETASSETS OFTHE GROUP'S FUNDS | |||||
| The group's net assets belong to the various funds as follows: | ||||||
| Net | current | |||||
| Fixed assets |
assets/ (liabilities) |
Fund balances |
||||
| £°000 | £'000 | £'000 | ||||
| Unrestricted funds | 2,046 | (3,256) | (1,210) | |||
| Restricted funds | 410 | 204 | 314 | |||
| Endowment funds | 587 | : | 587 | |||
| 2,743 | (3,052) | (309) | ||||
| Net assets ofthe charity's funds (excluding pension reserve} | ||||||
| The charity's net assets belong tothe various funds as follows: | ||||||
| Net | current | |||||
| Fixed | assets/ | Fund | ||||
| asseis | (liabilities) | balances | ||||
| £000 | £'000 | £'000 | ||||
| Unrestricted funds | 2,046 | (3,256) | (1,210) | |||
| Restricted funds | 110 | 204 | 314 | |||
| 2,156 | (3,052) | (896) |
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Doncaster Deaf Trust
Notes to the Consolidated Financial Statements - continued For The Year Ended 31 August 2021
MOVEMENT IN FUNDS
Unrestricted funds: movements In year - Group and Company
| Balance at | Transfers and | Balance at | Balance at | |||||
|---|---|---|---|---|---|---|---|---|
| 1 September 2020 |
Income | Expended | investment — gains/{losses} |
31 | August 2021 |
|||
| £'000 | £'000 | £'000 | £'000 | £'000 | ||||
| Designated funds: | ||||||||
| Building and equipment fund | 175 | - | - | - | 175 | |||
| Tangible fixed asset fund | 2,067 | - | (57) | - | 2,010 | |||
| Charities and risk fund | 1,300 | - | - | : | 1,300 | |||
| 3,542 | - | (57) | - | 3,485 | ||||
| Undesignated funds: | ||||||||
| General reserve | 61 | 8,985 | (8,565) | - | 481 | |||
| Revaluation reserve | 223 | - | - | 210 | 433 | |||
| Pension reserve | (6,810) | - | (322) | 1,523 | (5,609) | |||
| (6,526) | 8,985 | (8,887) | 1,733 | (4,695) | ||||
| (2,984) | 8,985 | (8,944) | 1,733 | (1,210) | ||||
| Designated funds consist of: | ||||||||
| i) The Building and equipmentfund represents funds intended forthe expansion of facilities used | for | |||||||
| educational and/or vocational purposes. | ||||||||
| ii) The Tangible fixed asset fund represents the property | and | other assets heid to fulfil the objectives of | ||||||
| the charity. | ||||||||
| iii) The Charities and risk fund represents a provision towards responsibilities of risk management. | ||||||||
| The General reserve represents the unrestricted funds which the trustees are | free to use in accordance with the | |||||||
| charitable objects. | ||||||||
| Revaluation reserve | ||||||||
| The revaluation reserve represents the surplus ofmarket value | overcoston investments at fhe | balance sheet | ||||||
| date. | ||||||||
| Restricted funds: movement in | the year -Group and Company | |||||||
| Balance at | Transfers and | Balance at | ||||||
| 1 September | investment | 31 | August | |||||
| 2020 | Income | Expended | gains/(losses} | 2021 | ||||
| £'000 | £°000 | £°000 | £'000 | £000 | ||||
| Nursery Building Fund | 110 | - | (3) | - | 107 | |||
| Student Bursary Fund | 64 | 17 | (10) | - | 71 | |||
| Smart Boards Fund | 1 | - | (1) | - | - | |||
| Forest School Fund | 2 | - | (1) | - | 1 | |||
| New Care Home Fund | 10 | - | - | - | 10 | |||
| Technology Fund | 2 | - | - | - | 2 | |||
| Cycle Fund | 9 | - | - | - | 9 | |||
| Chapel Fund | 2 | - | - | - | 2 | |||
| Youth Club Fund | 13 | - | - | - | 13 | |||
| Energy Fund | 4 | 23 | (23) | - | 4 | |||
| Community Fund | 57 | 16 | (34) | - | 39 | |||
| IT Equipment Fund | 14 | 5 | (1) | - | 18 | |||
| Barista Fund | 5 | 2 | (6) | - | 1 | |||
| Blades for Our Heroes Fund | 1 | - | - | - | 1 | |||
| Residences Fund | 32 | 36 | (50) | - | 18 | |||
| Play Area Fund | - | 32 | (32) | - | - | |||
| Turkish Project Fund | - | 7 | - | - | 7 | |||
| Wellbeing Fund | - | 9 | (1) | - | 8 | |||
| Gardening for Disabled Fund |
_- | 4 | (1) | _- | _3 |
The General reserve represents the unrestricted funds which the trustees are free to use in accordance with the charitable objects.
The revaluation reserve represents the surplus of market value over cost on investments at fhe balance sheet date.
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Doncaster Deaf Trust Notes to the Consolidated Financial Statements - continued For The Year Ended 31 August 2021
21, MOVEMENT IN FUNDS- continued
i} The Nursery Building Fund represents a grant towards the costs of building works to the nursery. ii) The Student Bursary Fund represents grants for pupils in hardship.
iii) The Smart Board Fund represents grants towards the purchase of teaching smart boards. iv) The Forest School Fund represents grants towards the creation of an outdoor learning centre for the nursery.
Vv) The New Care Home Fund represents donations towards our appeal for funding a new care home. vi} The Technology Fund represents grants towards the cost of new technology equipment.
vii) The Cycle Fund represents granis towards the cost of disabled cycles and equipment. viii) The Chapel Fund represents grants towards the renovation of the School Chapel. ix) The Youth Club Fund represents grants towards the cost of running youth clubs. x} The Energy Fund represents grants towards energy savings. xi) The Community Fund represents grants towards the cost of running community events.
xii) The IT Equipment Fund represents grants to purchase IT equipment. xiii} The Barista Fund represents a grant to purchase Barista equipment. xiv) The Blades for Our Heroes Fund represents monies raised for an ex-army Vet. xv) The Residences Fund represents grants to refurbish Lodges.
xvi) The Play Area Fund is a fundraising project that included resurfacing the outdoor play areas in nursery.
xvii) The Turkish Project Fund is a new project for the Spread the Sign project team. xviii) The Wellbeing Fund is a fundraising project that is refurbishing and renovating an area of College to develop a space for Well-being.
xix) The Gardening for Disabled Fund is a fundraising project that improved an area of the college grounds including the development of a garden area.
Endowment funds: movement in the year - Group
| Balance at | Transfers and | Balance at | |||
|---|---|---|---|---|---|
| 1 September 2020 £000 |
Income £'000 |
Expended £'000 |
investment gains/(losses) £000 |
31 August 2021 £'000 |
|
| Permanent endowments: | |||||
| Eastfield House land | §90 | - | (3) | - | 587 |
| §90 | - | (3) | - | 587 |
22. EMPLOYEE BENEFIT OBLIGATIONS
Teachers’ Pension Scheme
Introduction
The Teachers' Pension Scheme (TPS) is a statutory, contributory, defined benefit scheme, governed by the Teachers’ Pension Scheme Regulations 2014. Membership is automatic for full-time teachers and, from 1 January 2007, automatic for teachers in part-time employment following appointment or a change of contract, although they are able to opt out.
:
The TPS is an unfunded scheme and members contribute on a ‘pay as you go' basis - these contributions along with those made by employers are credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament.
Valuation of the Teachers’ Pension Scheme
Not less than every four years the Government Actuary, using normai actuarial principles, conducts a formal actuarial raview of the TPS in accordance with the Public Service Pensions (Valuations and Employer Cost Cap} Directions 2014 published by HM Treasury. The aim of the review is to specify the level of future contributions. Actuarial scheme valuations are dependent on assumptions about the value of future costs, dasign of benefits and many other factors. The latest actuarial valuation of the TPS was carried out as at 31 March 2016 and in accordance with the Public Service Pensions (Valuations and Empioyer Cost Cap) Directions 2014. The valuation report was published by the Department for Education on 5 March 2019. The key elements of the valuation and subsequent consultation are:
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Notes to the Consolidated Financial Statements - continued For The Year Ended 31 August 2021
22. EMPLOYEE BENEFIT OBLIGATIONS - continued
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employer contribution rates set at 23.68% of pensionable pay (including a 0.08% employer administration charge (currently 16.48%)
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total scheme liabilities (pensions currently in payment and the estimated cost of future benefits) for service to the effective date of £218,100 million, and notional assets (estimated future contributions together with the notional investments held at the valuation date) of £196,100 million giving a notional past service deficit of £22,000 million - an employer cost cap of 15.1% of pensionable pay will be applied to future valuations
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the assumed real rate of retum is 2.4% in excess of prices and 2% in excess of earnings. The rate of real earings growth is assumed ta be 2.2%. The assumed nominal rate of return is 4.45%.
The next valuation result is due to be implemented from 1 April 2023.
The employer’s pension costs paid to TPS in the period amounted to £410,361 (2020: £403,429) and at the year end £42,313 (2020: £41,406) was accrued in respect of contributions to this scheme.
A copy of the valuation report and supporting documentation is on the Teachers’ Pensions website.
Under the definitions set out in FRS 102, the TPS is a multi-employer pension scheme. The charity has accounted for its contributions to the scheme as if it were a defined contribution scheme. The charity has set out above the information available on the scheme.
Local government pension scheme
The amounts recognised in the Balance Sheet are as follows:
| Defined | benefit | |
|---|---|---|
| pension | plans | |
| 2021 | 2020 | |
| £'000 | £'000 | |
| Present value offunded obligations | (21,210) | (20,054) |
| Fairvalue ofplan assets | 45,601 | 13,244 |
| (5,609) | (6,810) | |
| Present value ofunfunded obligations | - | - |
| Deficit | (5,609) | (6,810) |
| Net liability | (5,609) | (6,810) |
| The amounts recognised in the Statement of Financial Activities are as follows: | ||
| Defined | benefit | |
| pension | plans | |
| 2021 | 2020 | |
| £'000 | £°000 | |
| Current service cost | 598 | 599 |
| Net interestfrom net defined benefit | ||
| assetiliability | 338 | 339 |
| Past service cost | : | 14 |
| 936 | 949 | |
| Actualreturnonplanassets | 2,382 | (23) |
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Notes to the Consolidated Financial Statements - continued For The Year Ended 31 August 2021
22. EMPLOYEE BENEFIT OBLIGATIONS- continued
Changes in the present value of the defined benefit obligation are as follows:
| Defined benefit | Defined benefit | |
|---|---|---|
| pension | plans | |
| 2021 | 2020 | |
| £'000 | £'000 | |
| Opening at 7 september |
20,054 | 19,072 |
| Current service cost | 598 | 599 |
| Past service cost | - | 11 |
| Employee contributions | 96 | 101 |
| interest cost | 338 | 339 |
| Actuarial gains | 634 | 447 |
| Benefits paid | (510) | (515) |
| 21,210 | 20,054 | |
| Changes in the fairvalue ofscheme assets are as follows: | ||
| Defined benefit | ||
| pension | plans | |
| 2021 | 2020 | |
| £'000 | £'000 | |
| Opening at 1 september |
13,244 | 13,592 |
| Expected return on assets | 225 | 244 |
| Employer contributions | 396 | 395 |
| Employee contributions | 96 | 101 |
| Administration expenses | (7) | (8) |
| Actuarial (losses)/gains | 2,157 | (565) |
| Benefits paid | (510) | (515) |
| 15,601 | 13,244 | |
| The amounts recognised in other recognised gains and josses are as follows: | ||
| Defined | benefit | |
| pension | plans | |
| 2021 | 2020 | |
| £'000 | £'000 | |
| Actuarial (losses)/gains | 1,523 | (1,012) |
| 1,523 | (1,012) | |
| The major categories ofscheme assets as amounts oftotal scheme assets are as follows: | ||
| Defined | benefit | |
| pension | plans | |
| 2021 | 2020 | |
| £'000 | £'000 | |
| Equities | 7,551 | 6,278 |
| Government Bonds | 2,153 | 1,947 |
| OtherBonds | 1,164 | 1,165 |
| Other | 3,245 | 2,265 |
| Cash/liquidity Property |
156 1,342 |
477 1,112 |
| 15,601 | 13,244 |
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Notes to the Consolidated Financial Statements - continued For The Year Ended 31 August 2021
EMPLOYEE BENEFIT OBLIGATIONS- continued
Principal actuarial assumptions at the Balance Sheet date (expressed as weighted averages):
| 2021 | 2020 | |
|---|---|---|
| Discount rate for scheme tiabilities | 1.70% | 1.70% |
| Rate ofsalary increases | 3.95% | 3.65% |
| Increase in pensions in payment | 2.80% | 2.50% |
| inflationassumption(CPI) | 2.70% | 2.40% |
Sensitivity analysis
The sensitivities regarding the principal assumptions used to measure the scheme liabilities are set out below:
| Central | Sensitivity1 | Sensitivity 2 | Sensitivity3 | Sensitivity 4 | ||
|---|---|---|---|---|---|---|
| 1 year | ||||||
| +0.1% p.a. | +0.1% pa. | +0.1% p.a. | increase | |||
| discount rate | inflation | paygrowth | in life | |||
| expectancy | ||||||
| £'000 | £'000 | £'000 | £'000 | £000 | ||
| Liabitities | 24,210 | 20,863 | 21,562 | 21,241 | 21,916 | |
| Assets | (15,601) | (15,601) | (15,601) | (15,601) | (15,601) | |
| Deficit | 5,609 | 5,262 | 5,961 | 5,640 | 6,315 | |
| Projected | service cost for next year | 639 | 624 | 654 | 639 | 661 |
| Projected | net interest cost for next | |||||
| year | 92 | 92 | 98 | 92 | 104 |
The current mortality assumptions include sufficient allowance for future improvements in mortality rates. The assumed life expectations on retirement age 65 are:
| 2021 | 2020 | |
|---|---|---|
| Retiring today | ||
| Males | 22.5 | 22.4 |
| Females | 25.3 | 26.2 |
| Retiring in 20 years | ||
| Males | 24.0 | 23.9 |
| Females | 27.2 | 27.1 |
| Amounts for the current and previous period are as follows: | ||
| 2021 | 2020 | |
| £'000 | £'000 | |
| Defined benefit pension plans | ||
| Present value of benefit obligations | 21,210 | 20,054 |
| Fair vaiue of plan assets | (15,601) | (13,244) |
| Deficit | 5,609 | 6,810 |
The estimated value of employer contributions for the year ended 31 August 2022 is £400,000.
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Notes to the Consolidated Financia! Statements - continued
For The Year Ended 31 August 2021
EMPLOYEE BENEFIT OBLIGATIONS- continued
The South Yorkshire Pension Scheme (SYPS) is a statutory, contributory, defined benefit scheme, governed by the Local Government Pensions Regulations. The SYPS is a funded scheme and every three years the scheme's actuaries conduct a formal actuarial review of the SYPS with the aim of specifying the level of future contributions. The latest actuarial vaiuation was carried out on 31 March 2016 and identified a deficit of 21,656,000 in relation to the Doncaster Deaf Trust participation in the scheme and proposed a funding strategy under which this deficit is to be recovered by increased employer contributions over the next 12 to 13 years. Although this valuation is the effective figure used to derive future contributions it is not the figure disclosed in the charitable company's balance sheet. Instead, in accordance with FRS 102, a separate valuation is carried out annually by the scheme's actuaries at the accounting date and this is disclosed in the accounts. This annual actuarial valuation identified a deficit of £5,609,000 at 31 August 2021 and is based on the actuarial assumptions set out above. This deficit represents the amount that would have been payable if the charitable company had withdrawn from SYPS on 31 August 2020. Nevertheless the charitable company continues to participate in the SYPS and make the increased contributions proposed by the actuary to recover the deficit of £1,656,000 over the next 12 to 13 years.
Pension contributions of £40,867 (2020: £40,266) were outstanding at the year end.
The charity also operates a defined contribution scheme in compliance with the auto enrolment provisions. The amounts outstanding under this scheme at the year end were £9,494 (2020: £8,522).
23. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 August 2021 (2020: none).
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