REGISTERED COMPANY NUMBER: 04204432 (England and Wales) REGISTERED CHARITY NUMBER: 1088623
ANNUAL REPORT & ACCOUNTS for the year ended 31st March 2022 2021-2022
CONTENTS
| REFERENCE AND ADMINISTRATIVE DETAILS | 3 |
|---|---|
| CHAIR’S REPORT | 5 |
| TRUSTEES’ ANNUAL REPORT | 7 |
| INDEPENDENT AUDITOR’S REPORT | 16 |
| FINANCIAL STATEMENTS | 20 |
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“My PAs are my absolute lifeline. You do not realise how much you take for granted until you are put in a position where you need support. I would not be here right now if I had not had my PAs to support me
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mentally, physically and emotionally. They always show me the utmost respect and never do things for me; it is very much a case of sorting things together and that means so much to me” Claire
Section 1: Reference and Administrative Details
REFERENCE AND ADMINISTRATIVE DETAILS
| Charity Number: Company Number: |
1088623 4204432 |
|---|---|
| Registered office and Operational address: |
Unit 7, Enterprise House Ashby Road Coalville, Leicestershire LE67 3LA |
| Patron: | Graham Garden |
| Chair of Trustees: | S H Large (Resigned 25 September 2021) L Crandley (Appointed 25 September 2021) |
| Trustees: | G Anthoney G Curtis (Appointed 25 September 2021) M Jeffery M Jervis Surtees R Mulvey S Patmore E M J Puszyk (Resigned 25 September 2021) J M Searle H Smith (Resigned 25th September 2021) L Strong (Appointed 25 September 2021) |
| Senior Leadership Team: | E Rickaby Chief Executive Officer R Birley Head of People & Purpose A Coleman Head of Finance & Governance E Collis Head of Quality & Compliance A Davies Head of Client Services |
| Bankers: | CAF Bank PLC 25 Kings Hill Avenue, Kings Hill, West Malling, Kent ME19 4JQ The Co-operative Bank PO Box 250 Skelmersdale. WN8 6WT |
| Auditor: | Azets Audit Services Thorpe House, 93 Headlands Kettering. NN15 6BL |
| Investment Managers: | Charles Stanley & Company Limited 25 Luke Street London. EC2A 4AR |
| Solicitors: | Adelta Legal, Level 3, 104 Fore Street. Adelaide. SA 5000, Australia |
Reference and Administration details
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Section 2: Chair's Report
CHAIR’S REPORT
It was a huge privilege and honour to be appointed as Chair of Enrych in September 2021. I’d like to say thank you to Stephen Large as outgoing Chair, not only for all his dedication to Enrych over a significant number of years but also for being so supportive during the transition period and spending time with me to help me get settled in quickly.
Unprecedented seems like a very over-utilised word after the last two years. I don’t think any of us as we planned for 2021/22 believed that the impact of the pandemic would continue for all of the following year and beyond. I am immensely proud of the work of all the staff and volunteers during this challenging time to ensure that we still provided support for our clients and for each other even when we couldn’t directly see one another and that over the course of the year our PAs delivered around 43,000 hours of support. It is so important to remember that for us, like many others, this was a true team effort including the support of all our functions whether it frontline, finance or HR – to name a few.
Despite the challenges that the pandemic created, we have still achieved a high amount during the year including being able to progress some of the growth plans in which the Trustees had agreed to invest.
We have merged with Leicestershire and Derbyshire to ensure we provide joined up services across the area in an effective and impactful way, whilst achieving value for money for our funders. Thank you to the Board of Enrych Leicestershire and Derbyshire, particularly their Chair – Miriam Jervis Surtees – who have worked with us so collaboratively to achieve a successful integration that brings the best of both organisations to the combined entity.
We have developed how we work with other Enrych charities, including sharing our learning and development platform and policies for use more widely. I look forward to continuing to cement and grow our engagement with other like-minded charities – both in the Enrych family and beyond.
Finally, I’d like to say a couple more thank yous – to the rest of the Board of Trustees for their enthusiasm and commitment and particularly to Liz as our CEO who makes my role as Chair straightforward and who bring her passion for supporting disabled people to work each and every day.
Laura Crandley Chair
I am delighted that we have launched our pop-up Feel Good Café and it has been amazing to see how popular this has been and how it has grown throughout the year. Around 40 people regularly attend our Café, at which they are able to undertake a range of wellbeing focused activity, including seated yoga, cake decorating, mosaic painting – to name but a few.
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Section 3: Trustees, Annual Report
TRUSTEES’ ANNUAL REPORT
The Board of Enrych (whose Trustees are also directors under company law) presents its report and the audited financial statements for the year ended 31st March 2022. The annual report serves the purposes of both a trustees’ report and a directors’ report under company law.
Reference and administration information, set out on page 4, forms part of this report. The financial statements comply with current statutory requirements, the Memorandum and Articles of Association and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the United Kingdom and Republic of Ireland (FRS 102).
OBJECTIVES AND ACTIVITIES:
Our Articles of Association set out that we improve wellbeing and help people with disabilities to overcome disadvantage irrespective of their ethnic group, religion, gender, sexual orientation or state of health.
The Trustees and Leadership Team continue to focus on growing impact by working in partnership to provide person-centred services, listening and responding to the needs of our beneficiaries.
OUR VISION:
A world without barriers for adults living with disability
OUR MISSION STATEMENT:
STRATEGIES AND ACTIVITIES:
Throughout the year a number of new initiatives have been developed in order to ensure we continue to deliver our strategic aims and objectives and review (and address) the evolving needs of those we serve. Through a partnership with NHS Charities Together we have developed a range of wellbeing initiatives which are now being delivered either directly or in partnership. These have been particularly valuable in encouraging adults with disabilities, many of whom have been shielding throughout the pandemic, to reengage with their communities and activities they may have enjoyed pre Covid-19 onset. By working in partnership, we can ensure that we maintain our person-centred approach, building support packages and social inclusion initiatives around those we serve and their families.
To achieve equity for adults living with disability through empowerment and influence
As an employer Enrych aims to:
Create a culture of engagement and wellbeing; Attract, develop and retain the best talent; Develop skills and behaviours which make Enrych a great place to work;
Embrace change to support our evolution and continuous improvement.
“I absolutely love my job and the management and staff in the office are excellent – really understanding, flexible and helpful and nothing is too much trouble for them” Susan, Personal Assistant
PUBLIC BENEFIT:
The Board of Trustees confirms that it has due regard to the provisions of section 17 of the Charities Act 2011 and has referred to the guidance contained in the Charity Commission’s general guidance on public benefit both when reviewing the aims and objectives of Enrych and also in planning activities. The Trustees undertake regular reviews of operational activities to ensure Enrych continues to work with its beneficiaries to achieve its objectives and goals. Enrych’s work meets the public benefit requirement in all its activities, which include:
- Empowering adults with disabilities to live meaningful and independent lives; Improving wellbeing outcomes for adults with disabilities by reducing loneliness and isolation; Ensuring adults with disabilities have the same opportunities as their peers for life and work.
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ACHIEVEMENTS AND PERFORMANCE:
Demand for the services provided by the charity has been significant along with the need to continue to review and adjust provision to meet the needs of those we serve. The prevalence of poor mental health has increased, and we have responded to this by providing many of our staff with Mental Health First Aid training. Funding for social care, in a landscape of increasing need, has continued to be challenged and the continued need to provide local authorities with more for less puts pressure on other initiatives, for example, investment in the training and wellbeing of our staff.
In February the charity also received funding from the National Lottery to deliver a digital empowerment service which enabled more people to get online as well as develop a range of IT related employability services, including increasing knowledge of assistive technology which could help expand career opportunities and options for job seekers with disabilities. The NHS Charities Together funded project also entered its second year, following a very successful year in which Enrych delivered more than 100 wellbeing events and developed a number of partnerships with like-minded organisations which have enabled Enrych to further extend its work and develop collaborative projects for the benefit of those it serves.
Over the year Enrych served 220 adults with disabilities and increased its network of personal assistants to 80 in order to support clients effectively and manage unpredictable absence levels linked to Covid isolation requirements. The charity also increased its range of services, developing a popup Feel Good Café model that can be delivered across Leicestershire as well as establishing a range of wellbeing activities including, but not limited to, our Enrych Choir, our Arts & Crafts sessions, multi-sports activities, bootcamps and a range of outdoor initiatives.
The Trustees are also pleased to report that formal discussions to merge Enrych with its sister charity Enrych Leicestershire & Derbyshire progressed positively throughout the year. As a result, both Boards agreed to a formal merger with effect from 1st April 2022. This will enable Enrych to deliver a broader and more diverse range of services to adults with disabilities across Leicestershire and Derbyshire as well as combine resources to achieve cost efficiencies whilst providing strong and experienced Leadership and Management across the combined charity.
Our Feel Good Café has become so popular we are aiming to open up a further 4 cafes across Leicestershire in 2022/23
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A MESSAGE FROM OUR CEO:
It has been another challenging year for Enrych as the ongoing impact of Covid-19 has continued to affect services, in particular our ability to provide our personal assistant service at full capacity. Infection and isolation requirements have meant that our network of PAs has frequently been reduced and making last-minute arrangements for support to ensure none of our clients are at risk has kept our teams busy throughout the year. We have recruited additional PAs to our team to try and overcome this but like many delivering social care services at this time, recruitment has not been easy. We are incredibly fortunate that we have high staff commitment and low turnover rates but even so ensuring we can continue to meet the needs of everyone has continued to challenge our teams significantly. It goes without saying that I am incredibly proud of our team who continue to work tirelessly to ensure that the needs of those we serve have been met and no one is at risk due to isolation and lack of support. We hope that as restrictions have eased things will improve but given the environment in which we operate we will continue to retain some mandatory requirements for isolation to ensure we reduce risk to those we serve. We also expect that the difficulties we experience in recruiting staff into Social Care roles will not subside whilst local authorities continue to demand more for less. This impacts our ability to retain competitive salary rates, particularly in an environment where the cost of living is increasing exponentially.
That said our staff and volunteers continue to work with a passion and enthusiasm that makes me proud to be able to lead such a great Charity. I am equally proud and delighted to welcome the team from Enrych Leicestershire & Derbyshire who are already integrating seamlessly with the team from Enrych and demonstrating the benefit to those we both serve of merging the two charities. Along with the team of employees from Enrych Leicestershire and Derbyshire, we are pleased to welcome the network of amazing volunteers who give up their time to support the work we do. I am confident that with this combined team we will be able to expand the services we provide to our clients as well as engaging many more people who can benefit from these. We know that so many people have experienced poor mental health as a result of isolation and loneliness due to Covid-19 restrictions. We also know that NHS services continue to experience ongoing pressures such that the wait for support for some can be lengthy. We are therefore determined to do everything we can to help prevent the need for medical interventions through developing our wellbeing services and mental health support. I’m pleased, therefore, to report that a number of our team have now qualified as Mental Health First Aiders.
THANK YOU:
We’d like to say a very big thank you to everyone who has supported Enrych in the last 12 months, whether that be through a financial contribution, supporting one of our projects through volunteering or working with us as a partner to help maximise our impact on the lives of adults living with disability. A huge thank you too to all those who provide care to a family member and who work with us to ensure people can remain in their own homes.
Funder for 2020-2021:
- Hastings Direct Persimmon Homes Edward Gostling The Clothworkers Foundation CAF Resilience Fund
Funders for 2021-2022
- The National Lottery, The Shires Community Fund, TCV Leicestershire County Council, Maud Elkington Foundation North West Leicestershire District Council NHS Charities Together Cadeby Homes Arter Douglas Fund Carlton Hayes
Special thanks to Cadeby Homes, who have not only supported our Feel Good Café financially throughout the last year but also provided teams of volunteers to help us set up the George Smith Hub in which our Feel Good Café is currently being enjoyed by many and from which we are delivering digital inclusion and employability support.
A huge thank you to Coalville Belvoir Rotary Club, who have not only supported our work with donations but have supplied teams of volunteers to help some of the clients in maintaining their homes.
Thank you to TCV, Falcon and MRC Community Action with whom we have worked in partnership throughout the last 12 months.
And finally, a huge thank you to our Trustees who give their time and expertise to provide sound governance to our Charity and to all our staff and volunteers who have worked tirelessly in challenging times to ensure adults with disabilities have plenty of opportunities to engage with their communities and live independently.
Liz Rickaby Chief Executive
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FINANCIAL REVIEW:
Despite increased demand and ongoing funding pressures, the Trustees are pleased to report that Enrych achieved a satisfactory financial position during the year, finishing the reporting period with a small loss of £600. The charity has continued to invest in initiatives to support growing its impact and extending the services it delivers to meet the needs of those it serves.
During the reporting period, the charity received legacies, donations and grants totalling £199,441. In the coming year, Enrych will re-focus its fundraising efforts to ensure it can continue the great work currently being done by Enrych Leicestershire & Derbyshire which will be absorbed into the Enrych provision. The new, combined charity will continue to build on its relationships with funders to reduce reliance on local authority funding and enable more flexibility in the services it offers.
During the year our reserves achieved £240,829 This reflects our continued effort to build reserves in line with our Reserves Policy. Whilst the ongoing impact of the pandemic caused some fluctuation in the reserves position, it remained relatively strong, and the Trustees continue to monitor the situation closely.
Throughout the year (and in the previous year), we benefitted from the Government’s furlough scheme in order to retain staff for whom we did not have sufficient work. When the scheme ended, we were made aware that holiday would have accrued for staff, even though they were on furlough and this needed to be reflected within our financial reports. As a result, a financial adjustment relating to the holiday carried over for this year has been included in this reporting period and a further adjustment made for the previous reporting period.
The prior year comparative figures in these financial statements have been amended to include a staff holiday pay accrual which had not previously been recognised. This adjustment was necessary as the potential liability has increased significantly in recent years – in part due to an increase in staff numbers following the charity’s growth in the last two years, but also due to the special holiday carry forward rules adopted as a result of the Covid-19 pandemic – and is considered to be material to the financial statements. The value of the accrual at 31 March 2022 was £29,372 compared to £16,987 at 31 March 2021, which resulted in a charge of £12,385 in the current year’s accounts and a prior year adjustment of £16,987 to the 2021 accounts (further detail on the impact of this prior year adjustment has been included in note 22 to the financial statements). Include some details related to the staff holiday pay prior year adjustment.
During the year we have been liaising with legal advisers in Australia regarding a potential legacy. Although there is a strong indication that we will receive this, there is still some uncertainty regarding agreements from other beneficiaries of the legacy which could impact our payment and the extent of the funds that will be paid. As both factors are outside of our control, the Trustees have agreed that the amount should not be included as income during the financial year.
RESERVES POLICY:
The charity aims to hold sufficient reserves to provide adequate financial stability and in order to meet its charitable objectives for the near future along with any costs in the unlikely event of closure (redundancy payments, lease liabilities, rent etc). The total unrestricted reserves as at 31 March 2022 were £207,111. The policy is to maintain minimum sufficient funds to cover three months’ operating costs in their entirety, in addition to the cost of closure.
INVESTMENT POLICY:
The Finance Committee, which is chaired by the Treasurer and reports to the main Board of Trustees, monitors investments at least quarterly to ensure these are appropriate. The priority for investments is to ensure we use low to medium risk investment vehicles to achieve maximum possible income that is then available for the charity to continue to deliver its charitable objectives.
RISK MANAGEMENT:
As required by SORP 2019, the Trustees set a framework to identify and respond to risk as well as provide effective arrangements to manage and report risk. The risks considered relate to the operational performance of the charity, the achievement of its aims and objectives and its continued reputation as an organisation that delivers high quality services for adults living with disability. These are summarised as:
Governance;
- Operational; Financial; External; Compliance.
As well as the Trustees establishing systems and procedures to manage and mitigate risk, the Senior Leadership Team has been strengthened to further ensure that risk is managed and mitigated.
The Trustees confirm that the risks to which they believe the charity is exposed and which have been reviewed and systems established to mitigate and informed by and relate to the following matters:
- The charity’s objectives and strategies. The nature and scale of the charity’s activities. External legislation and regulations. The operating structure of the charity; and Local authority commissioning and funding policies.
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FUTURE PLANS:
With effect from 1st April 2022 Enrych and Enrych Leicestershire & Derbyshire will operate as a new, combined entity with Enrych Leicestershire & Derbyshire being formally dissolved and its associated activities and resources being absorbed by Enrych. Enrych will therefore continue delivery of some of the volunteer support services provided by Enrych Leicestershire & Derbyshire. Strategic Planning will ensure that the charity continues to review its longer term plans to ensure these continue to meet the ongoing needs of those it serves. As well as protecting the long term future of the Charity, Enrych aims to ensure it continues to be relevant to the needs of all its stakeholders. Having recognised the need for increased support for mental health and wellbeing, it will focus its planning and project development to meet this need. As such a number of staff have been trained in Mental Health First Aid and we are focusing our recruitment to enhance the specialist skills in our team.
Having been founded by Leonard Cheshire and Sue Ryder to meet the leisure and learning needs of adults with disabilities, Enrych will continue to make this a priority and work with its sister charities in Berkshire, Buckinghamshire and Oxfordshire to do this. However, having recognised that the needs of adults with disabilities change and to reflect our focus on independence, progression and opportunity, including meaningful work, we are now delivering employability skills and in work support through our National Lottery funded project.
We will continue to listen to those we serve and develop services that meet their evolving needs. We will also continue to develop our partnership networks to work collaboratively to deliver high quality support whilst being as economically efficient as possible for commissioners and funders.
Enrych will continue to invest in its people, ensuring that it maintains its position as an employer of choice in social care and its reputation for retention. As such our learning and development platform was launched during the year and every member of the Enrych team is now benefiting from enhanced learning opportunities. Four of our key members of the team are currently undergoing Leadership and Management training, utilising the Apprenticeship Levy which has been made available to small and medium employers.
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Trustees' Annual Report
GOVERNANCE:
LEGAL CONSTITUTION:
Enrych is a charitable company limited by guarantee, established under a Memorandum of Association and incorporated in April 1986.
The Trustees serving during the year are shown on page 4. Trustees equate to Directors in companies act terms and trustees in charities act terms.
METHOD OF RECRUITMENT AND APPOINTMENT OF TRUSTEES:
Trustees hold office for 3 years and can be re-appointed for 3 consecutive terms (i.e. up to 9 years in total). In the event of a vacancy, new Trustees are recruited through a number of routes and, following interview with the Chief Executive, Chair and at least 1 other Trustee are appointed at the AGM, held in September each year. New Trustees are nominated by the Chair and appointed following approval by the Board. The Articles of Association allow for up to 11 Trustees, including a Chair and Treasurer.
At the end of the financial year there were two Trustee vacancies. Trustees serve for a period of three years at the end of which they are eligible to be elected for a further two three year periods up to a maximum tenure of nine years. New Trustees are appointed as necessary in order to give a wide breadth of experience to the organisation. They are recruited through a formal recruitment and selection process. No benefits are received by Trustees.
A Finance Committee, chaired by Trustee (and Treasurer) Mrs Jennifer Searle, comprising of members of the Trustee Board, advises the Board on all financial matters.
The Trustees would like to thank Dr Stephen Large, who stood down from the Board in September 2021, for his contribution to the Board as Trustee and latterly as Chair.
POLICIES AND PROCEDURES ADOPTED FOR THE INDUCTION AND TRAINING OF TRUSTEES:
New Trustees receive a Welcome Pack/Trustee Toolkit detailing their responsibilities and providing guidance on their role as Governor of the Charity. Trustee training provided by the Charity Commission can be accessed as required as well as the opportunity for a full induction and mentor arrangement.
ORGANISATIONAL STRUCTURE AND PURPOSE:
Enrych operates through a central hub and employs 8 full time and 6 part time members of staff. Independent charities currently operate as branches of Enrych under the Enrych brand in Leicestershire & Derbyshire, Berkshire, Buckinghamshire and Oxfordshire. These branches operate as independent charities with Enrych providing some centralised support services (Financial, HR, Learning & Development). Each branch is managed by its own Board of Trustees delivering services which reflect local needs. A Trustee from each branch, normally the Chair, serves as Trustee on the Board of Enrych to maintain strong links between the charities.
Enrych delivers its services to adults with all disabilities to enable them to retain their independence and wellbeing. Our aim is that adults with disabilities should be empowered to achieve their own goals and objectives and enjoy the same opportunities as their peers. Whilst Enrych works across all disability groups, the majority of those we serve have learning disabilities and poor mental health, which has become more prevalent due to the impact of the pandemic and restriction measures.
As well as providing one to one support, Enrych delivers a wide range of social activities to enable adults with disabilities to engage and progress, including but not limited to Feel Good Cafes, multi sports activities, arts and crafts groups, wellbeing workshops and employability support.
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Trustees' Annual Report
MANAGEMENT:
The Board of Trustees meets four times a year, or when required. The Senior Leadership Team has responsibility for managing the Charity, overarching responsibility for the day-to-day running of the Charity being the responsibility of the Chief Executive, Elizabeth Rickaby, who was appointed by the Board of Trustees. The Charity has a strong and experienced Leadership Team which has been reviewed and strengthened to ensure that it has the skills and knowledge to lead the Charity through its strategic plans. The Board of Trustees agrees with the strategic aims of the charity, authorises the budgets and provides robust governance which ensures aims, growth plans and budgets remain on track.
REMUNERATION OF KEY MANAGEMENT PERSONNEL:
RELATED PARTIES AND OTHER CONNECTED CHARITIES AND ORGANISATIONS:
Enrych provides support to a network of branch charities utilising the Enrych brand. These independent charities operate as Enrych Berkshire, Enrych Buckinghamshire, Enrych Leicestershire & Derbyshire and Enrych Oxfordshire. Enrych provides support with IT, HR and some financial matters (e.g. payroll). A representative from each Branch (normally the Chair) acts as a Trustee to Enrych.
FUNDRAISING:
During the course of this reporting period, fundraising has only been done through: Applications to Trusts and Foundations; Sponsorship of projects by local businesses; Collection of ongoing donations.
The pay of key management personnel is reviewed annually, and the Trustees approve changes based on cost of living adjustments and the performance of the charity.
We do not actively fundraise at a community level. However, as we make no charge for any of the social activities that we provide, we do ask that those attendees make a small donation towards the ongoing cost of these if they are able and would like to do so. However, there is no obligation for them to do so and those collecting donations are briefed to ensure no pressure is applied.
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Trustees' Annual Report
STATEMENT OF TRUSTEES’ RESPONSIBILITIES:
In line with Charity and Company law, the Trustees oversee the preparation of financial statements for each financial year, which give a true and fair view of the Charity’s financial activities and its financial position at the end of the year. In preparing statements the Trustees will:
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Select and consistently apply suitable accounting policies;
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Make reasonable and prudent judgements;
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State whether applicable accounting standards and statements of recommended practice have been applied, subject to relevant departures disclosed and explained in the financial statements; and
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Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping accounting records which disclose with reasonable accuracy and at any time the financial position of the Charity and which enable them to ensure that the financial statements comply with applicable law. They are also responsible for safeguarding the assets of the Charity and taking all reasonable steps to ensure the prevention and detection of fraud and irregularities.
DISCLOSURE OF INFORMATION TO THE AUDITOR:
As far as the Trustees are aware:
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There is no relevant information of which the Charity’s auditors are not aware;
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All steps have been taken by them to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 27th September 2022 and signed on its behalf by
……………………………………………… Laura Crandley – Chair
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Trustees' Annual Report
Section 4: Independent Auditors, Report
INDEPENDENT AUDITOR’S REPORT TO THE BOARD OF TRUSTEES OF ENRYCH
OPINION
We have audited the financial statements of Enrych (the ‘charitable company’) for the year ended 31 March 2022 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice) and the Charities SORP 2019.
In our opinion, the financial statements:
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give a true and fair view of the state of the charitable company's affairs as at 31 March 2022 and of its incoming resources and application of resources, 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 International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
CONCLUSIONS RELATING TO GOING CONCERN
In auditing the financial statements, we have concluded that the trustees' 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 Board of Trustees with respect to going concern are described in the relevant sections of this report.
OTHER INFORMATION
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The Board of Trustees are responsible for the other information contained within the annual 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 statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
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Independent Auditor's Report
OPINIONS ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2006
In our opinion, based on the work undertaken in the course of our audit:
- the information given in the trustees' report, which includes the directors' report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and the directors' report included within the trustees' report 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 charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report included within the trustees' report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
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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 returns; or certain disclosures of trustees' remuneration specified by law are not made; or
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we have not received all the information and explanations we require for our audit; or
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the Board of Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the trustees' report and from the requirement to prepare a strategic report.
RESPONSIBILITIES OF BOARD OF TRUSTEES
As explained more fully in the statement of trustees' responsibilities, the Board of Trustees, who are also the directors of the charitable company for the purpose 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 Board of 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 Board of 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 Board of Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
AUDITOR'S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
OTHER MATTERS WHICH WE ARE REQUIRED TO ADDRESS
In the previous accounting period the charitable company was exempt from audit under s477 of the Companies Act and s144 of the Charities Act 2011. Therefore, the prior period financial statements were not subject to audit.
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Independent Auditor's Report
EXTENT TO WHICH THE AUDIT WAS CONSIDERED CAPABLE OF DETECTING IRREGULARITIES INCLUDING FRAUD
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.
We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.
In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:
-
Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud;
-
Reviewing minutes of meetings of those charged with governance;
-
Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the entity through enquiry and inspection;
-
Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
-
Performing audit work over the risk of management bias and 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 indicators of potential 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 of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
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 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.
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Independent Auditor's Report
Section 5: Financial Statements
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2022
| Unrestricted Fund |
Restricted Fund |
2022 Total Funds |
2021 Total Funds |
||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||||
| Donations and Legacies | 3 | 26,233 | 0 | 26,233 | 51,684 |
| Government Grants | 3 | 21,801 | 20,927 | 42,728 | 58,979 |
| Other Grants | 3 | 20,714 | 109,766 | 130,480 | 66,754 |
| Charitable activities | 5 | 928,932 | 0 | 928,932 | 744,606 |
| Supporting other Branches | 5 | 13,783 | 0 | 13,783 | 3,535 |
| Investment Income | 4 | 848 | 0 | 848 | 1,070 |
| Other Income | 4,771 | 0 | 4,771 | 0 | |
| Total Income | 1,017,082 | 130,693 | 1,147,775 | 926,628 | |
| EXPENDITURE ON | |||||
| Raising funds | 6 | 2,212 | 0 | 2,212 | 4,034 |
| Charitable Activities | 7 to 9 | 1,038,430 | 107,823 | 1,146,253 | 857,380 |
| Total Expenditure | 1,040,642 | 107,823 | 1,148,465 | 861,414 | |
| Net gains/ (losses) on investments | 14 | 90 | 0 | 90 | 13,965 |
| NET INCOME/(EXPENDITURE) | (23,470) | 22,870 | (600) | 79,179 | |
| RECONCILIATION OF FUNDS | |||||
| Total funds brought forward | 19 | 226,222 | 15,207 | 241,429 | 162,250 |
| TOTAL FUNDS CARRIED FORWARD | 19 | 202,752 | 38,077 | 240,829 | 241,429 |
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Financial Statements
BALANCE SHEET AT 31ST MARCH 2022
| Unrestricted Fund |
Restricted Fund |
2022 Total Funds |
2021 Total Funds |
||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 13 | 4,142 | 16,970 | 21,112 | 19,411 |
| Investments | 14 | 76,455 | 0 | 76,455 | 82,463 |
| 80,597 | 16,970 | 97,567 | 101,874 | ||
| CURRENT ASSETS | |||||
| Debtors | 16 | 94,633 | 42,502 | 137,135 | 91,162 |
| Cash at Bank | 15 | 122,093 | 50,120 | 172,213 | 124,041 |
| 216,726 | 92,622 | 309,348 | 215,203 | ||
| CREDITORS | |||||
| Amount falling due within one year | 17 | 94,572 | 71,515 | 166,087 | 75,648 |
| NET CURRENT ASSETS/(LIABILITIES) | 122,154 | 21,107 | 143,262 | 139,555 | |
| TOTAL ASSETS LESS CURRENT LIABILITES | 202,751 | 38,077 | 240,829 | 241,429 | |
| NET ASSETS | 202,751 | 38,077 | 240,829 | 241,429 | |
| FUNDS | |||||
| Restricted Funds | 19 | 38,077 | 15,207 | ||
| Unrestricted Funds | 19 | 202,751 | 226,222 | ||
| TOTAL FUNDS | 240,829 | 241,429 | |||
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Financial Statements
The Trustees acknowledge their responsibilities for:
-
ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to charitable small companies.
The financial statements were approved by the Board of Trustees on 27th September 2022 and were signed on its behalf by:
………………………………………………………………….. L Crandley – Chair and Trustee
………………………………………………………………….. J M Searle - Trustee
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Financial Statements
CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH 2022
| 2022 | 2022 | 2021 | 2021 | |
|---|---|---|---|---|
| Cash flows from operating activities: | £ | £ | ||
| Net Income/(Expenditure) for the reporting period (as per SOFA) | (600) | 79,179 | ||
| Adjustments for: | ||||
| Depreciation charges (as per notes 9 & 14) | 5,537 | 3,477 | ||
| Interest Received (as per SOFA) | (18) | (46) | ||
| Dividends Received (as per SOFA) | (830) | (1,024) | ||
| Change in Market Value of investments (revaluation as per note 14) |
(90) | (13,965) | ||
| Gain on sale of property, plant and equipment | 0 | 0 | ||
| Movement in debtors | (45,973) | (33,140) | ||
| Movement in creditors | 90,439 | 31,941 | ||
| Net cash provided by operating activities | 48,464 | 66,422 | ||
| Cash flows from investing activities: | ||||
| Proceeds from sale of property, plant and equipment | 0 | 283 | ||
| Payment for property, plant and equipment (as per note 14) | (7,238) | (20,176) | ||
| Proceeds from sale of investments | 16,284 | 25,175 | ||
| Payment for purchase of investments | (10,186) | (30,708) | ||
| Interest received (as per SOFA) | 18 | 46 | ||
| Dividends received (as per SOFA) | 830 | 1,024 | ||
| Net cash provided by (used in) investing activities | (292) | (24,356) | ||
| Change in cash and cash equivalents in the reporting period | 48,172 | 42,066 | ||
| Cash and cash equivalents at beginning of the period | 124,041 | 81,975 | ||
| Cash and cash equivalents at end of the period | 172,213 | 124,041 | ||
| Net change in cash for the reporting period | 48,172 | 42,066 | ||
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Financial Statements
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2022
1. Statutory Information
Enrych is a private company, limited by guarantee, registered in England and Wales. The company’s registered number and registered office address can be found on the Reference and Administrative Details page.
2. 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 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 1st January 2019)’, Financial Reporting Standard 102 ‘The financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Companies Act 2006.
The financial statements have been prepared under the historical cost convention with the exception of investments, which are included at market value, as modified by the revaluation of certain assets.
The financial statements are prepared in Sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
Going concern
At the time of approving the financial statements, the Board of Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the Board of Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
Income
Income is recognised in the Statement of Financial Activities when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received, and the amount can be measured reliably. The following specific policies are applied to particular categories of income: -
-
For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained, then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity, and it is probable that they will be fulfilled in the reporting period
-
Income from grants is recognised when the charity has entitlement to the funds, any performance conditions attached to the grant have been met, it is probable that the income will be received, and the amount can be measured reliably and is not deferred.
-
Donated facilities and donated professional services recognised as income at their fair value when their economic benefit is probable, it can be measured reliably the charity has control over the item. Fair value is determined on the basis of the value of the gift to the charity, for example the amount the charity would be willing to pay in the open market for such facilities and services. A corresponding amount is recognised in expenditure.
-
No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102). Further details given in the Trustees’ Annual Report, where relevant.
Investment Income is earned through holding assets for investment purposes such as term deposit
- Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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Financial Statements
Expenditure
All expenditure is accounted for on an accruals basis and has been classified under activities that aggregate all costs related to any particular activity. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties; it is probable that the settlement will be required, and the amount of the obligation can be measured reliably. It is categorised under the following headings: -
-
Costs of raising funds comprise costs incurred by the charity in the generation of donation and fundraising income
-
Expenditure on charitable activities including those incurred by the charity in the delivery of its activities and services for its beneficiaries.
-
All categories of costs include both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is calculated at the following annual rates in order to write off each asset over its estimated useful life:
Fixtures and Fittings - 25% on reducing balance IT and Office Equipment - 25% on reducing balance
Fixed asset investments
Fixed asset investments are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal. Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end.
Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of three months or less.
Financial instruments
The charity has elected to apply the provision of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity’s balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash at bank and in hand, are initially measured at the transaction price including any transaction costs and are subsequently carried at amortised cost using the effective interest rate method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
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Financial Statements
Basic financial liabilities
Basic financial liabilities, including trade creditors, are initially recognised at the transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest rate method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
Taxation
The charity operates in such a way that it is exempt from corporation tax on its charitable activities.
Fund Accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Employee benefits
The cost of short-term employee benefits are recognised as a liability and an expense, unless the costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company’s pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Leases
Rentals payable under operating leases, including any lease incentives received, are charged as an expense on a straight-line basis over the term of the relevant lease.
Branches of the charity
The accounts do not include the charity’s branches, as they are separate legal entities.
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Financial Statements
| 3. 4. |
Donations, Gift Aid & Legacies 2022 2021 £ £ Bequests and Legacies Received 0 0 Donations Received 1,713 24,680 Gift Aid 4,441 5,003 Individual Donors 20,079 22,001 Total Donations & Legacies 26,233 51,684 Donations, Grants and Legacies Government Grants 2022 2021 £ £ Furlough Refund 21,363 58,979 Kickstart Income 20,927 0 SSP Refund (COVID19) 438 0 Total Government Grants 42,728 58,979 Grants 2022 2021 £ £ Apprentice Incentive Grant 3,00 500 Grant (restricted) 73,399 15,254 Grant (Unrestricted) 17,714 51,000 Grant Income - Cadeby Homes 10,000 0 Restricted Grant Income - NHS Charities Together 26,366 0 Trusts and Foundations 0 0 Total Grants 130,480 66,754 Investment Income 2022 2021 £ £ Dividends 830 1,024 Bank Interest 18 46 Total Investment Income 848 1,070 The Bequests and Legacies figure of is stated as £0, because although Enrych received a draft settlement statement in July 2022, this has not yet had full agreement of all beneficiaries, so is likely to be subject to further fees and delays. The trustees feel that due to the uncertainty of both the amount and expected payment date, this amount has not been accounted for in this year's financial statements |
5. 6. 7. 8. 9. 10. |
Income from Charitable Activities | Income from Charitable Activities | Income from Charitable Activities |
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| £ | £ | ||||
| Enrych Assist PA Service Income | 927.270 | 744,606 | |||
| Supporting Branches | 13,783 | 3,535 | |||
| Community Activities | 1,662 | 0 | |||
| Total | 942,715 | 748,141 | |||
| Raising Funds | |||||
| 2022 | 2021 | ||||
| £ | £ | ||||
| Fundraising Costs | 1,192 | 3,014 | |||
| Investment and management fees |
1,020 | 1,020 | |||
| 2,212 | 4,034 | ||||
| Charitable Activities Costs | |||||
| 2022 | 2021 | ||||
| £ | £ | ||||
| Direct Costs | 944,341 | 683,982 | |||
| Support Costs (see note 8) | 201,912 | 173,398 | |||
| 1,146,253 | 857,380 | ||||
| Support Costs | |||||
| 2022 | 2021 | ||||
| £ | £ | ||||
| Management | 191,787 | 169,677 | |||
| Finance | 2,517 | 1,722 | |||
| Governance | 7,608 | 1,999 | |||
| 201,912 | 173,398 | ||||
| Net Income is stated after charging: | |||||
| 2022 | 2021 | ||||
| £ | £ | ||||
| Independent Examination | 0 | 1,660 | |||
| Auditor’s remuneration | 6,540 | 0 | |||
| Depreciation - owned assets | 5,537 | 3,476 | |||
| Operating lease rentals | 28,958 | 20,223 | |||
| 41,035 | 25,359 | ||||
| Trustees’ Remuneration and Benefits There were no trustees’ remuneration, expenses, travel costs or other benefits for the year ended 31st March 2022 nor for the year ended 31st March 2021. |
3. Donations, Grants and Legacies
4. Investment Income
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Financial Statements
11. Staff Costs
| Staff Costs | ||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Wages and Salaries Office Staff | 325,266 | 248,558 |
| Social Security Costs Office Staff | 22,675 | 16,845 |
| Pension Costs Office Staff | 6,413 | 5,641 |
| Wages and Salaries PA employees | 565,421 | 465,552 |
| Social Security Costs PA employees | 13,349 | 7,843 |
| Pension Costs PA employees | 3,970 | 2,839 |
| 937,094 | 787,278 |
The average monthly number of employees during the year was as follows:
Year end March 2022: 93 Year end March 2021: 83
No employees received emoluments in excess of £60,000.
The key management personnel of the charity comprise the trustees and the senior leadership team as listed in the Reference and Administrative Details. The total amount of key management personnel employee benefits (including employer’s pension contributions and employer’s national insurance contributions) received by key management personnel for their services to the charity was:
Year end March 2022: £166,761. Year end March 2021: £130,646.
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Financial Statements
12. Comparatives for Statement of Financial Activities
The figures shown in this note are for year ended 31st March 2021, to be used for comparison purposes.
These figures have been revised since reporting last year, to take into account the accrual of employee holiday balances at 31st March 2021
| at 31st March 2021 | ||||
|---|---|---|---|---|
| Unrestricted Fund |
Restricted Fund |
Total Funds | ||
| Notes | £ | £ | £ | |
| Income and Endowments from: | ||||
| Donations & Legacies | 3 | 51,684 | 0 | 51,684 |
| Government Grants | 3 | 58,979 | 0 | 58,979 |
| Other Grants | 3 | 51,500 | 15,254 | 66,754 |
| Charitable Activities | 5 | 744,606 | 0 | 744,606 |
| Supporting other Branches | 5 | 3,535 | 0 | 3,535 |
| Investment Income | 4 | 1,070 | 0 | 1,070 |
| Total Income | 911,374 | 15,254 | 926,628 | |
| Expenditure On: | ||||
| Raising Funds | 6 | 4,034 | 0 | 4,034 |
| Expenditure on Charitable Activities | 7 to 9 | 854,933 | 2,447 | 857,380 |
| Total Expenditure | 858,967 | 2,447 | 861,414 | |
| Net gains/ (losses on investments) | 14 | 13,965 | 0 | 13,965 |
| Transfer between funds | (2,400) | 2,400 | 0 | |
| Net Income/Expenditure | 63,972 | 15,207 | 79,179 | |
| RECONCILIATION OF FUNDS | ||||
| Restricted Funds | 0 | |||
| Unrestricted funds | 19 | 162,250 | 0 | 162,250 |
| TOTAL FUNDS CARRIED FORWARD | 19 | 226,222 | 15,207 | 241,429 |
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Financial Statements
13. Tangible Fixed Assets
| Fixtures & Fittings | Fixtures & Fittings | IT & Office | Equipment | Total 2022 | Total 2022 | Total 2022 | |
|---|---|---|---|---|---|---|---|
| Cost | Unrestricted | Restricted | Unrestricted | Restricted | Unrestricted | Restricted | |
| At 1st April 2021 | 13,212 | 0 | 4,209 | 17,050 | 17,421 | 17,050 | 34,471 |
| Additions | 328 | 0 | 709 | 6,201 | 1,037 | 6,201 | 7,238 |
| Disposals | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| At 31st March 2022 | 13,540 | 0 | 4,918 | 23,251 | 18,458 | 23,251 | 41,708 |
| Depreciation | |||||||
| At 1st April 2021 | 11,043 | 0 | 1,569 | 2,448 | 12,612 | 2,447 | 15,060 |
| Charge for the year | 616 | 0 | 1,088 | 3,833 | 1,704 | 3,833 | 5,537 |
| Disposals | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| At 31st March 2022 | 11,659 | 0 | 2,657 | 6,281 | 14,316 | 6,281 | 20,597 |
| Net Book Value | |||||||
| At 31st March 2021 | 2,169 | 0 | 2,640 | 14,602 | 4,809 | 14,603 | 19,411 |
| At 31st March 2022 | 1,881 | 0 | 2,261 | 16,970 | 4,142 | 16,970 | 21,112 |
14. Fixed Assets Investments
| Listed investments | Total | |
|---|---|---|
| Cost or valuation | £ | £ |
| At 1st April 2021 | 82,463 | 82,463 |
| Additions | 10,186 | 10,186 |
| Disposals | (16,284) | (16,284) |
| Revaluations | 90 | 90 |
| At 31st March 2022 | 76,455 | 76,455 |
| Carrying amount | ||
| At 31st March 2022 | 76,455 | 76,455 |
| At 31st March 2021 | 82,463 | 82,463 |
Investments at fair value comprise:
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Fixed Income | 12,449 | 23,227 |
| UK Equity | 17,214 | 14,578 |
| International Equity | 40,853 | 35,626 |
| Property | 3,652 | 3,140 |
| Alternatives | 2,298 | 5,951 |
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Financial Statements
15. Bank Accounts
| Bank Accounts | ||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Current Account | 46,602 | 23,396 |
| Savings Account | 53,490 | 62,468 |
| Savings Account 2 | 64,600 | 36,550 |
| Current Account 2 | 100 | 0 |
| Cash Tin | 91 | 205 |
| Investment Bank Capital and Income Accounts | 7,330 | 1,422 |
| 172,213 | 124,041 | |
16. Debtors
| Debtors | ||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Debtors Control Account | 112,394 | 29,002 |
| Prepayments | 21,441 | 56,760 |
| Rent Security Deposit | 3,300 | 5.400 |
| 137,135 | 91,162 |
17. Creditors, Amounts falling due within one year
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Accruals | 106,932 | 44,480 |
| Trade Creditors | 12,787 | 28,758 |
| Grants Received in Advance | 34,607 | 0 |
| Pensions | 2,047 | 1,546 |
| Social Security & Taxes | 9,607 | 815 |
| Student Loan Deductions Payable | 57 | 0 |
| Other Creditors | 50 | 49 |
| 166,087 | 75,648 | |
| Grants received in advance relate to a grant | from the National | Lottery Communit |
Grants received in advance relate to a grant from the National Lottery Community Fund for the charity’s digital empowerment project. The first instalment of funding was received in advance and covered the first six months of the funding period.
18. Leasing Agreements
At the reporting end date, the charity had outstanding commitments for future minimum lease payments under noncancellable operating leases, which fall due as follows:
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Due within one year | 27,990 | |
| Due between two and five years | 35,197 | 26,781 |
| 63,187 | 26,781 | |
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Financial Statements
19. Movement in funds
| Movement in funds | |||
|---|---|---|---|
| At 01-04-2021 | Net Movement in funds | At 31/03/2022 | |
| £ | £ | £ | |
| Unrestricted funds | 226,222 | (23,560) | 202,662 |
| Restricted funds | 15,207 | 22,870 | 38,077 |
| Total Funds | 241,429 | (690) | 240,739 |
Net movement in funds, included in the above as follows:
| Incoming resources |
Resources expended |
Gains, losses and transfers |
Movement in funds |
|
|---|---|---|---|---|
| £ | £ | £ | £ | |
| Unrestricted funds | 1,017,082 | 1,040,642 | 90 | (23,470) |
| Restricted funds | 130,693 | 107,823 | 0 | 22,870 |
| Total Funds | 1,147,775 | 1,148,466 | 90 | (600) |
Comparatives for movement in funds
| At 01-04-2020 | Net Movement in funds |
At 31-03-2021 | |
|---|---|---|---|
| £ | £ | £ | |
| Unrestricted funds | 162,250 | 63,972 | 226,222 |
| Restricted funds | 0 | 15,207 | 15,207 |
| Total Funds | 162,250 | 241,429 | |
Comparative net movement in funds, included in the above are as follows:
| Incoming resources |
Resources expended |
Gains, losses and transfers |
Movement in funds |
|
|---|---|---|---|---|
| £ | £ | £ | £ | |
| Unrestricted funds | 911,374 | (858,967) | 11,565 | 63,972 |
| Restricted funds | 15,254 | (2,447) | 2,400 | 15,207 |
| Total Funds | 926,628 | 861413 | 13,965 | 79,179 |
20. Events after the Reporting Date
With effect from 1st April 2022 Enrych and Enrych Leicestershire & Derbyshire will operate as a new, combined entity with Enrych Leicestershire & Derbyshire being formally dissolved and its associated activities and resources being absorbed by Enrych. Enrych will therefore continue delivery of some of the volunteer support services provided by Enrych Leicestershire & Derbyshire.
21. Related Party Disclosures
There were no disclosable related party transactions during this financial year or 2021.
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Financial Statements
22. Prior Period Adjustment
| Prior Period Adjustment | |||
|---|---|---|---|
| 1 April 2020 | 31 March 2021 |
||
| Reconciliation of funds | Notes | £ | £ |
| Funds as previously reported | 162,250 | 258,416 | |
| Adjustments arising: | |||
| Staff holiday pay accrual | 1 | 0 | (16,987) |
| Funds as restated | 162,250 | 241,429 | |
| Reconciliation of net income for the prior period | Notes | 2021 | |
| £ | |||
| Net income as previously reported | 96,166 | ||
| Adjustments arising: | |||
| Staff holiday pay accrual | 1 | (16,987) | |
| Net income as restated | 79,179 | ||
Notes to restatement
1) Staff holiday pay accrual
In previous years, the charity had not included an accrual for staff holiday that had been earnt but not taken by the balance sheet date. As the total of staff holiday earnt but not taken at 31 March 2022 is now considered to be material, the prior year accounts have been restated to reflect the value at 31 March 2021.
Annual Report and Accounts 2021-2022
34
Financial Statements
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2022
| Unrestricted Fund |
Restricted Fund |
Year End 31st Mar 2022 |
Year End 31st Mar 2021 |
|
|---|---|---|---|---|
| £ | £ | £ | £ | |
| Income | ||||
| Donations, Grants & Legacies | ||||
| Bequests and Legacies Received | 0 | 0 | 0 | 0 |
| Donations Received | 1,713 | 0 | 1,713 | 24,680 |
| Gift Aid | 4,441 | 0 | 4,441 | 5,003 |
| Individual Donors | 20,079 | 0 | 20,079 | 22,001 |
| Total Donations & Legacies | 26,233 | 0 | 26.233 | 51,684 |
| Government Grants | ||||
| Furlough Refund | 21,363 | 0 | 21,363 | 58,979 |
| Kickstart Income | 0 | 20,927 | 20,927 | 0 |
| SSP Refund (COVID19) | 438 | 0 | 438 | 0 |
| Total Government Grants | 21,801 | 20,927 | 42,728 | 58,979 |
| Grants | ||||
| Apprentice Incentive Grant | 3,000 | 0 | 3,000 | 500 |
| Grant (restricted) | 0 | 73,400 | 73,400 | 15,254 |
| Grant (Unrestricted) | 17,714 | 0 | 17,714 | 51,000 |
| Grant Income - Cadeby Homes | 0 | 10,000 | 10,000 | 0 |
| Restricted Grant Income - NHS Charities Together | 0 | 26,366 | 26,366 | 0 |
| Trusts and Foundations | 0 | 0 | 0 | 0 |
| Total Grants | 20,714 | 109,766 | 130,480 | 66,754 |
| Total Donations, Grants & Legacies | 68,748 | 130,693 | 199,441 | 177,417 |
| Income from Charitable Activities | ||||
| Enrych Assist | ||||
| LCC COVID 19 Support | 323 | 0 | 323 | 1,255 |
| P.A. Hours | 866,666 | 0 | 866,666 | 699,245 |
| PMA Monthly charge | 0 | 0 | 0 | 0 |
| Enrych Assist Expenses | ||||
| DBS Charges (Recharging for Assist related services) | 193 | 0 | 193 | 50 |
| PA Direct Clients Pass through expenses | 3,845 | 0 | 3,845 | 14,314 |
| PA Mileage | 55,070 | 0 | 55,070 | 29,034 |
| PA Travelling Allowance | 1,173 | 0 | 1,173 | 708 |
| Total Enrych Assist Expenses | 60,281 | 0 | 60,281 | 44,106 |
| Total Enrych Assist | 927,270 | 0 | 927,270 | 744,606 |
| Other Charitable Activities | ||||
| Branch Support | ||||
| Branches - Charges for services (excluding payroll) | 1,815 | 0 | 1,815 | 1,635 |
| Branches - Costs recharged | 10,649 | 0 | 10,649 | 512 |
| Branches - Payroll fee charged | 1,319 | 0 | 1,319 | 1,388 |
| Total Branch Support | 13,783 | 0 | 13,783 | 3,535 |
Annual Report and Accounts 2021-2022
35
Financial Statements
| Unrestricted Fund |
Restricted Fund |
Year End 31st Mar 2022 |
Year End 31st Mar 2021 |
|
|---|---|---|---|---|
| Community Projects | £ | £ | £ | £ |
| Activity Fee Income | 205 | 0 | 205 | 0 |
| Community Events | 516 | 0 | 516 | 0 |
| Fundraising Events | 941 | 0 | 941 | 0 |
| Total Community Projects | 1,662 | 0 | 1,662 | 0 |
| Total Other Charitable Activities | 15,445 | 0 | 15,445 | 3,535 |
| Total Income from Charitable Activities | 942,715 | 0 | 942,715 | 748,141 |
| Investment Income | ||||
| Dividends Received | 830 | 0 | 830 | 1,024 |
| Interest Received | 18 | 0 | 18 | 46 |
| Total Investment Income | 848 | 0 | 848 | 1,070 |
| Other Income | ||||
| Compensation | 4,771 | 0 | 4,771 | 0 |
| Total Other Income | 4,771 | 0 | 4,771 | 0 |
| Total Income | 1,017,082 | 130,693 | 1,147,775 | 926,628 |
| Less Cost of Sales | ||||
| Raising Funds | ||||
| Costs of Fundraising | 0 | 0 | 0 | 1,598 |
| Investment management Charge | 1,020 | 0 | 1,020 | 1,020 |
| Professional Fees - Legacy claims | 0 | 0 | 0 | 0 |
| Rapidata charges | 1,192 | 0 | 1,192 | 1,416 |
| Total Raising Funds | 2,212 | 0 | 2,212 | 4,034 |
| Expenditure on Charitable Activities | ||||
| Assist PA Service Costs | ||||
| Care Planner Licence fee | 6,048 | 0 | 6,048 | 3,120 |
| CarePlanner Call monitoring cost | 2,126 | 0 | 2,126 | 71 |
| CarePlanner SMS charges | 3 | 0 | 3 | 0 |
| Client Welfare | 37 | 12 | 49 | 0 |
| CRM Software Subscription (Act Premium) | 181 | 0 | 181 | 1,996 |
| PPE for PAs | 50 | 0 | 50 | 1,967 |
| Professional fees - Legal Advice | 6,182 | 515 | 6,697 | 7,159 |
| Sundry Equipment for PAs (Car Seat Covers, RADAR Keys) | 30 | 0 | 30 | 75 |
| Employment costs - Assist Staff | ||||
| Employer's NI (Assist Staff) | 11,233 | 457 | 11,690 | 6,473 |
| Furlough Salary (Assist Staff) | 4,138 | 0 | 4,138 | 0 |
| Nest Pension Costs ERS (Assist Staff) | 3,183 | 113 | 3,296 | 2,008 |
| Assist Staff Salaries | ||||
| Salaries (Assist Staff) | 153,141 | 0 | 153,141 | 124,209 |
| Staff Holiday Pay | 259 | 0 | 259 | 6,606 |
| Statutory Payments to Assist Staff (SSP, SMP, SAP, SPP, ShPP) | 983 | 0 | 983 | 0 |
| Total Assist Staff Salaries | 154,383 | 0 | 154,383 | 130,815 |
Annual Report and Accounts 2021-2022
36
Financial Statements
| Unrestricted Fund |
Restricted Fund |
Year End 31st Mar 2022 |
Year End 31st Mar 2021 |
|
|---|---|---|---|---|
| Assist Staff Travel, Mileage & Expenses | £ | £ | £ | £ |
| Motor vehicle & mileage (Assist related) |
3,589 | 0 | 3,589 | 2,899 |
| Travelling & subsistence (Assist related) | 9 | 0 | 9 | 186 |
| Total Assist Staff Travel, Mileage & Expenses | 3,598 | 0 | 3,598 | 3,085 |
| Total Employment costs - Assist Staff | 176,535 | 570 | 177,105 | 142,381 |
| Employment Costs - PA employees | ||||
| PA Employers NI | 13,349 | 2,303 | 15,652 | 7,843 |
| PA Nest Employers contribution Furlough amount | 0 | 0 | 0 | 11 |
| PA Nest Pension Employers Contribution Cost | 3970 | 414 | 4,384 | 2,828 |
| Enrych Assist PA Gross Wages | ||||
| PA Bonus Pay | 0 | 25,322 | 25,322 | 0 |
| Furlough Pay | 19,647 | 0 | 19,647 | 50,756 |
| PA Holiday Pay | 66,709 | 0 | 66,709 | 53,097 |
| PA Hours Costs | 464,172 | 0 | 464,172 | 361,036 |
| PA Hours Not Recharged | 3,661 | 10 | 3,661 | 0 |
| PA Statutory Payments (SSP, SMP, SAP, SPP, ShPP) | 11,017 | 0 | 11,017 | 422 |
| SSP Waiting Days Payment COVID 19 | 215 | 0 | 215 | 241 |
| Total Enrych Assist PA Gross Wages | 565,411 | 25,332 | 590,743 | 465,552 |
| Enrych Assist PA Travel & Expenses | ||||
| PA Client Mileage Costs | 48,906 | 0 | 48,906 | 29,318 |
| PA mileage Not Recharged | 92 | 145 | 237 | 0 |
| PA Pass Through Expenses | 3,924 | 0 | 3,924 | 14,375 |
| PA Pass Through Travel Allowance | 1,100 | 0 | 1,100 | 734 |
| PA Travel Mileage Costs | 7,604 | 0 | 7,604 | 0 |
| Total Enrych Assist PA Travel & Expenses | 61,626 | 145 | 61,771 | 44,427 |
| Total Employment Costs - PA employees | 644,356 | 28,194 | 672,550 | 520,661 |
| Total Assist PA Service Costs | 835,548 | 29,291 | 864,839 | 677,430 |
| Branch Support Costs | ||||
| Branch Expenses (Rechargeable to Branch) | 2,110 | 0 | 2,110 | 1,249 |
| Branch funding | 0 | 0 | 0 | 0 |
| Branch Training Costs (Not recharged) | 0 | 0 | 0 | 600 |
| Total Branch Support Costs | 2,110 | 0 | 2,110 | 1,849 |
| Community Project Costs | ||||
| Equipment for project | 19 | 337 | 356 | 19 |
| Motor vehicle & Mileage (Community Projects) | 550 | 31 | 581 | 0 |
| Project Activity Costs | 30 | 3,511 | 3,541 | 0 |
Annual Report and Accounts 2021-2022
37
Financial Statements
| Unrestricted Fund |
Restricted Fund |
Year End 31st Mar 2022 |
Year End 31st Mar 2021 |
|
|---|---|---|---|---|
| Community Projects - Employment Costs | £ | £ | £ | £ |
| Employer's NI (Community Project) | 86 | 0 | 86 | 0 |
| Nest Pension Costs ERS (Community Project) | 32 | 0 | 32 | 0 |
| Salaries (Community Projects) | 2,309 | 7,500 | 9,809 | 0 |
| Total Community Projects - Employment Costs | 2,427 | 7,500 | 9,927 | 0 |
| Total Community Project Costs | 3,026 | 11,379 | 14,405 | 19 |
| Digital Project Costs | ||||
| Equipment For Digital Project | 0 | 94 | 94 | 0 |
| Motor vehicle & mileage (Digital Project) | 0 | 310 | 310 | 0 |
| Digital Empowerment Project, Employment Costs | ||||
| Employer's NI (Digital Project) | 0 | 547 | 547 | 0 |
| Nest Pension Costs ERS (Digital Project) | 0 | 145 | 145 | 0 |
| Salaries (Digital Project) | 0 | 9,458 | 9,458 | 0 |
| Total Digital Empowerment Project, Employment Costs | 0 | 10,150 | 10,150 | 0 |
| Total Digital Project Costs | 0 | 10,554 | 10,554 | 0 |
| NHS Charities Together Project | ||||
| Activity Costs for NHS charities Together Project | 0 | 5,490 | 5,490 | 0 |
| Advertising and Promotion (NHS charities together Project) | 0 | 1,003 | 1,003 | 0 |
| Motor vehicle & mileage (NHS Charities Together) | 0 | 578 | 578 | 0 |
| Participant Expenses for NHS Charities Together Project | 0 | 277 | 277 | 0 |
| Employment Costs - NHS Charities Together | ||||
| Employers NI (NHS Charities Together Project) | 0 | 565 | 565 | 0 |
| Nest Employer's Contribution (NHS charities together) | 0 | 127 | 127 | 0 |
| Salaries (NHS Together Project) | 0 | 10,376 | 10,376 | 0 |
| Total Employment Costs - NHS Charities Together | 0 | 11,068 | 11,068 | 0 |
| Total NHS Charities Together Project | 0 | 18,416 | 18,416 | 0 |
| Total Community Project Costs | 3,026 | 40,349 | 43,375 | 19 |
| Essential Running Costs | ||||
| Advertising & promotion | 403 | 188 | 591 | 818 |
| DBS Checks Costs | 2,363 | 0 | 2,363 | 1,619 |
| Meeting room hire | 90 | 0 | 90 | 243 |
| Total Essential Running Costs | 2,856 | 188 | 3,044 | 2,680 |
| Kickstarter Employment Costs | ||||
| Employers NI (Kickstarter) | 0 | 397 | 397 | 0 |
| Nest Pension Costs ERS (Kickstarter) | 0 | 192 | 192 | 0 |
| Salaries (Kickstarter) | 0 | 16,500 | 16,500 | 0 |
| Total Kickstarter Employment Costs | 0 | 17,089 | 17,089 | 0 |
Annual Report and Accounts 2021-2022
38
Financial Statements
| Unrestricted Fund |
Restricted Fund |
Year End 31st Mar 2022 |
Year End 31st Mar 2021 |
|
|---|---|---|---|---|
| Training & recruitment | ||||
| Assist Staff Training Costs | 202 | 0 | 202 | 511 |
| Recruitment Expenses | 87 | 0 | 87 | 0 |
| Staff training | 12,305 | 1,290 | 13,595 | 1,493 |
| Total Training & recruitment | 12,594 | 1,290 | 13,884 | 2,004 |
| Total Expenditure on Charitable Activities | 856,134 | 88,207 | 944,341 | 683,982 |
| Total Cost of Sales | 858,346 | 88,207 | 946,553 | 688,016 |
| Gross Profit | 158,736 | 42,486 | 201,222 | 238,612 |
| Less Operating Expenses | £ | £ | £ | £ |
| Management & Support Costs | ||||
| Employment Costs - Management & Support | ||||
| Employer's NI (Central) | 9,847 | 463 | 10,310 | 10,256 |
| Employer's NI Furlough (Central) | 0 | 0 | 0 | 115 |
| Nest Pension Costs ERS (Central) | 2,734 | 63 | 2,797 | 2,788 |
| Pension Costs Employer | 0 | 0 | 0 | 785 |
| Penson costs Employer Contribution Furlough (Central) | 0 | 0 | 0 | 60 |
| Redundancy Payment (Central) | 0 | 0 | 0 | 6,444 |
| Bonus Paid to Staff | 0 | 6,253 | 6,253 | 0 |
| Central Staff Salaries | ||||
| Furlough Salary (Central Staff) | 4,645 | 0 | 4,645 | 4,196 |
| Salaries (Central) | 111,597 | 4,360 | 115,957 | 107,103 |
| Total Central Staff Salaries | 116,242 | 4,360 | 120,602 | 111,299 |
| Central Staff Travel, Mileage & Expenses | ||||
| Home working | 26 | 0 | 26 | 366 |
| Motor vehicle & Mileage (Central related) | 90 | 0 | 90 | 193 |
| Travel and Subsistence (Central Related) | 0 | 0 | 0 | 0 |
| Total Central Staff Travel, Mileage & Expenses | 116 | 0 | 116 | 559 |
| Total Employment Costs - Management & Support | 128,939 | 11,139 | 140,078 | 132,306 |
| Accountancy Costs | ||||
| Accounting Software Subscription (Xero) | 439 | 0 | 439 | 518 |
| Payroll charges | 5,049 | 0 | 5,049 | 3,078 |
| Total Accountancy Costs | 5,488 | 0 | 5,488 | 3,596 |
| IT, Telephone & Internet | ||||
| Computer expenses | 217 | 0 | 217 | 299 |
| IT support | 396 | 193 | 589 | 838 |
| Office equipment | 956 | 0 | 956 | 2,756 |
| Telephone and internet | 1,979 | 912 | 2,891 | 2,800 |
| Total IT, Telephone & Internet | 3,548 | 1,105 | 4,653 | 6,693 |
Annual Report and Accounts 2021-2022
39
Financial Statements
| Unrestricted Fund |
Restricted Fund |
Year End 31st Mar 2022 |
Year End 31st Mar 2021 |
|
|---|---|---|---|---|
| Support Costs | £ | £ | £ | £ |
| Bad debts | 0 | 0 | 0 | 38 |
| Cleaning and Maintenance | 160 | 0 | 160 | 0 |
| Electricity Supply | 700 | 0 | 700 | 0 |
| Furniture/Fitting Depreciation | 616 | 0 | 616 | 212 |
| Insurance | 2,737 | 843 | 3,580 | 2,090 |
| IT & office equipment depreciation | 1,088 | 3,833 | 4,921 | 3,264 |
| Printing, postage and stationery | 3,516 | 1,714 | 5,230 | 4,481 |
| Relocation Costs | 3,090 | 0 | 3,090 | 420 |
| Rent, rates and services | 19,366 | 982 | 20,348 | 11,748 |
| Staff welfare | 1,041 | 0 | 1,041 | 727 |
| Subscriptions | 1,123 | 0 | 1,123 | 874 |
| Sundries | 277 | 0 | 277 | 170 |
| Website and rebranding | 482 | 0 | 482 | 3,058 |
| Total Support Costs | 34,196 | 7,372 | 41,568 | 27,082 |
| Total Management | 172,171 | 19,616 | 191,787 | 169,677 |
| Finance | ||||
| Bank charges and interests | 1,975 | 0 | 1,975 | 1,502 |
| Stripe Fees | 542 | 0 | 542 | 220 |
| Total Finance | 2,517 | 0 | 2,517 | 1,722 |
| Governance Costs | ||||
| Audit and accountancy fees | 6,788 | 0 | 6,788 | 1,660 |
| Governance Cost | 13 | 0 | 13 | 13 |
| Hospitality & AGM | 807 | 0 | 807 | 326 |
| Trustee meetings & expenses | 0 | 0 | 0 | 0 |
| Total Governance Costs | 7,608 | 0 | 7,608 | 1,999 |
| Total Operating Expenses | 182,296 | 19,616 | 201,912 | 173,398 |
| Operating Profit | (23,560) | 22,870 | (690) | 65,214 |
| Net gains/(losses) on investments | 90 | 0 | 90 | 13,965 |
| NET INCOME/(EXPENDITURE) | (23,470) | 22,870 | (600) | 79,179 |
Annual Report and Accounts 2021-2022
40
Financial Statements