REGISTERED COMPANY NUMBER: 04171053 (England and Wales) REGISTERED CHARITY NUMBER: 1093612
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022
FOR
THE FOUR SEASONS TRUST LIMITED
THE FOUR SEASONS TRUST LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 5 April 2022
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | to | 6 |
| Notes to the Financial Statements | 7 | to | 11 |
| Detailed Statement of Financial Activities | 12 |
THE FOUR SEASONS TRUST LIMITED
REPORT OF THE TRUSTEES
for the Year Ended 5 April 2022
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 5 April 2022. The trustees have adopted 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).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The company was granted charitable status on 30 August 2002 by the Charity Commission. The company commenced its principal activity, the provision of residential care and homes for adults with learning difficulties, including epilepsy, in June 2003. It continues this activity in line with its charitable objectives.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The aims and objectives for the charity are being met and the staff employed continue to embrace the aspirations and intentions of the Directors, enabling young adults to lead settled lives, offering necessary independence and support. The Directors consider the performance of the charity from the commencement in 2003 to date to be very satisfactory.
The Trustees have had due regard to guidance published by the Charity Commission on public benefit. They believe comparable excellent and relevant facilities provided by the Charity would not be available within the directly funded public sector.
FINANCIAL REVIEW
Principal funding sources
The principal funding source is from funding provided by Local Government Funds based on assessments of the care needs of the charity's clients.
Investment policy and objectives
The current investment policy is to hold surplus funds on long term deposit in order to earn the best available rates of interest.
Reserves policy
It is the current policy to retain all reserves to meet any unforeseen circumstances, particularly any Government review which may affect funding available to the charity's clients. The charity also wishes to ensure there are sufficient reserves in order to provide full support services for any transition period should there be a change in funding.
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.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
04171053 (England and Wales)
Registered Charity number
1093612
Page 1
THE FOUR SEASONS TRUST LIMITED
REPORT OF THE TRUSTEES for the Year Ended 5 April 2022
Registered office
Four Seasons 32 Abbotswood Guildford Surrey GU1 1UZ
Trustees
D P J Aggett Retired Mrs G R Penrose Clinical Psychologist Miss P L Rankin Deputy Head Of Care (resigned 14.7.21) T Newman Retired Pilot
Company Secretary
Mrs G R Penrose
Independent Examiner
Andrew F Wye FCA Andrew F Wye Limited 24 Marlyns Drive Burpham Guildford Surrey GU4 7LT
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 20 October 2022 and signed on its behalf by:
D P J Aggett - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE FOUR SEASONS TRUST LIMITED
Independent examiner's report to the trustees of The Four Seasons Trust Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 5 April 2022.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Andrew F Wye FCA Andrew F Wye Limited 24 Marlyns Drive Burpham Guildford Surrey GU4 7LT
20 October 2022
Page 3
THE FOUR SEASONS TRUST LIMITED
STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 5 April 2022
| 5.4.22 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies - Charitable activities Social Services Funding 172,996 Total 172,996 EXPENDITURE ON Charitable activities Social Services Funding 167,694 NET INCOME/(EXPENDITURE) 5,302 RECONCILIATION OF FUNDS Total funds brought forward 83,171 TOTAL FUNDS CARRIED FORWARD 88,473 |
5.4.21 Total funds £ 1,872 180,675 182,547 214,497 (31,950) 115,121 83,171 |
|---|---|
The notes form part of these financial statements
Page 4
THE FOUR SEASONS TRUST LIMITED
BALANCE SHEET 5 April 2022
| 5.4.22 | 5.4.21 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| CURRENT ASSETS | |||
| Debtors | 5 | 8,610 | 7,605 |
| Cash at bank and in hand | 86,745 | 79,513 | |
| 95,355 | 87,118 | ||
| CREDITORS | |||
| Amounts falling due within one year | 6 | (6,882) | (3,947) |
| NET CURRENT ASSETS | 88,473 | 83,171 | |
| TOTAL ASSETS LESS CURRENT LIABILITIES | 88,473 | 83,171 | |
| NET ASSETS | 88,473 | 83,171 | |
| FUNDS | 7 | ||
| Unrestricted funds | 88,473 | 83,171 | |
| TOTAL FUNDS | 88,473 | 83,171 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2022 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) 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.
The notes form part of these financial statements
Page 5
continued...
THE FOUR SEASONS TRUST LIMITED
BALANCE SHEET - continued 5 April 2022
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 20 October 2022 and were signed on its behalf by:
D P J Aggett - Trustee
T Newman - Trustee
The notes form part of these financial statements
Page 6
THE FOUR SEASONS TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 5 April 2022
1. 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 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.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Taxation
The charity 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.
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.
continued...
Page 7
THE FOUR SEASONS TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 5 April 2022
2. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 5 April 2022 nor for the year ended 5 April 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 5 April 2022 nor for the year ended 5 April 2021.
3. STAFF COSTS
The average monthly number of employees during the year was as follows:
| 5.4.22 | 5.4.21 | |
|---|---|---|
| Care helpers | 5 | 6 |
No employees received emoluments in excess of £60,000.
4.
5.
TANGIBLE FIXED ASSETS
| TANGIBLE FIXED ASSETS | TANGIBLE FIXED ASSETS | |||
|---|---|---|---|---|
| Improvements | Fixtures | |||
| to | and | Motor | ||
| property | fittings | vehicles | Totals | |
| £ | £ | £ | £ | |
| COST | ||||
| At 6 April 2021 and 5 April 2022 | 40,712 | 1,968 | 18,500 | 61,180 |
| DEPRECIATION | ||||
| At 6 April 2021 and 5 April 2022 | 40,712 | 1,968 | 18,500 | 61,180 |
| NET BOOK VALUE | ||||
| At 5 April 2022 | - | - | - | - |
| At 5 April 2021 | - | - | - | - |
| DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| 5.4.22 | 5.4.21 | |||
| £ | £ | |||
| Other debtors | 8,610 | 7,605 |
continued...
Page 8
THE FOUR SEASONS TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 5 April 2022
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 5.4.22 | 5.4.21 | |
|---|---|---|
| £ | £ | |
| Social security and other taxes | 2,528 | 2,441 |
| Other creditors | 4,354 | 1,506 |
| 6,882 | 3,947 |
7. MOVEMENT IN FUNDS
| Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund TOTAL FUNDS |
Net movement At At 6.4.21 in funds 5.4.22 £ £ £ 83,171 5,302 88,473 83,171 5,302 88,473 Incoming Resources Movement resources expended in funds £ £ £ 172,996 (167,694) 5,302 172,996 (167,694) 5,302 Net movement At At 6.4.20 in funds 5.4.21 £ £ £ 115,121 (31,950) 83,171 115,121 (31,950) 83,171 |
Net movement At At 6.4.21 in funds 5.4.22 £ £ £ 83,171 5,302 88,473 83,171 5,302 88,473 Incoming Resources Movement resources expended in funds £ £ £ 172,996 (167,694) 5,302 172,996 (167,694) 5,302 Net movement At At 6.4.20 in funds 5.4.21 £ £ £ 115,121 (31,950) 83,171 115,121 (31,950) 83,171 |
|---|---|---|
| 5,302 | ||
| At 5.4.21 £ 83,171 |
||
| 83,171 |
continued...
Page 9
THE FOUR SEASONS TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 5 April 2022
7. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement |
|---|---|---|
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund 182,547 |
(214,497) | (31,950) |
| TOTAL FUNDS 182,547 |
(214,497) | (31,950) |
| A current year 12 months and prior year 12 months combined position is as follows: | ||
| Net | ||
| movement | At | |
| At 6.4.20 | in funds | 5.4.22 |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund 115,121 |
(26,648) | 88,473 |
| TOTAL FUNDS 115,121 |
(26,648) | 88,473 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming Resources Movement resources expended in funds £ £ £ 355,543 (382,191) (26,648) 355,543 (382,191) (26,648) |
|---|---|
continued...
Page 10
THE FOUR SEASONS TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 5 April 2022
8. RELATED PARTY DISCLOSURES
The charity occupies premises owned by one of the Trustee Directors, Mrs G Penrose, under a lease granted for 5 years from March 2019, under which a peppercorn rent is paid.
Page 11
THE FOUR SEASONS TRUST LIMITED
DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 5 April 2022
| 5.4.22 | 5.4.21 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | - | 1,872 |
| Charitable activities | ||
| Social Services funding | 172,996 | 180,675 |
| Total incoming resources | 172,996 | 182,547 |
| EXPENDITURE | ||
| Charitable activities | ||
| Wages | 120,094 | 148,988 |
| Social security | 9,930 | 8,844 |
| Pensions | 2,913 | 3,385 |
| Rates and water | 1,008 | 1,064 |
| Insurance | 4,079 | 3,794 |
| Light and heat | 3,772 | 3,281 |
| Food and other direct costs | 9,243 | 11,575 |
| Training and development costs | 5,141 | 4,275 |
| Property maintenance | 4,011 | 3,648 |
| Agency staff costs | - | 18,791 |
| 160,191 | 207,645 | |
| Support costs | ||
| Management | ||
| Insurance | 1,063 | 1,202 |
| Telephone | 1,518 | 1,373 |
| Postage and stationery | 16 | 94 |
| Accountancy | 900 | 900 |
| Sundries | 878 | 898 |
| Motor expenses | 2,890 | 2,076 |
| Bank charges | 238 | 309 |
| 7,503 | 6,852 | |
| Total resources expended | 167,694 | 214,497 |
| Net income/(expenditure) | 5,302 | (31,950) |
This page does not form part of the statutory financial statements
Page 12