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||Pages|
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|Directors' Report|1-10|
|Statement ofDirectors' Responsibilities||
|Auditors'
Report|12 —15|
|Statement ofFinancial Activities|16|
|Balance Sheet||
|Statement ofCash Flows|18|
|Notes to the Financial Statements|19-34|
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|The Patron|Mrs Jennifer Tolhurst, The Lord|Mrs Jennifer Tolhurst, The Lord|Lieutenant|ofEssex|
|---|---|---|---|---|
|President|Mr GCourtauld
OBE,DL||||
|Vice-Presidents|Mr DBoyle JP,DL||||
||The Revd. Canon J|Brown DL|||
||Mr N SCharrington|—appointed|8December|2021|
||Cllr JJowers||||
||Mr CManning-Press|DL —died|13September 2021||
||Lord Petre KCVO||||
||Professor JPretty OBE||||
||Mr RWoolley||||
|Treasurer|Mr PConway FCA|—resigned 13October 2021|||
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|
YEAR ENDED 31MARCH 2022||
||
||
|---|---|---|---|---|---|
|||Unrestricted|Restricted|Total|Total|
||Notes|funds|funds|2022|2021|
|Income from:|||Note 10||Note 15|
|Charitable
activities|2|426,208|2,058,304|2,484,512|1,509,591|
|Donations||2,192||2,192|2,340|
|Investments||||||
|Rents receivable|1v|30,624||30,624|29,902|
|Interest receivable||142||142|1,235|
|Total income||459,166|2,058,304|2,517,470|1,543,06B|
|Expenditure
on:||||||
|Charitable
activities|3|416,545|1,691,455|2,107,999|1,309,663|
|Investment
management||||||
|Rental overheads|1v|10,624||10,624|9,497|
|Total expenditure||427,169|1,691,455|2,118,623|1,319,160|
|Net income before transfers||31,998|366,849|398,847|223,908|
|Transfers between funds||||||
|Net income after transfers||31,998|366,849|398,847|223,908|
|Total funds brought forward||835,069|321,090|1,156,159|932,251|
|Total funds carried forward||6867,067|6687,939|61,555,006|61,156,159|
##
|||Notes|2022|2021|
|---|---|---|---|---|
|Fixed assets|||||
|Tangible assets|||697,051|702,837|
|Investments|||100,000|100,000|
||||797,051|802,837|
|Current assets|||||
|Debtors|||220,954|98,487|
|Cash at bank and in hand|||832,291|563,0S2|
||||1,053,245|661,569|
|Creditors: amounts|falling due||||
|within one year|||(124,499)|(119,246)|
|Net current assets|||947,091|542,323|
|Total assets less current liabilities|||1,725,797|1,345,160|
|Creditors: amounts|falling due||||
|after more than|one year||(170,791)|('189,001)|
|Net assets|||61,555,006|61,156,159|
|Restricted funds||10|687,939|321,090|
|Unrestricted
funds|||||
|Designated
capital fund|||507,304|493,302|
|Free core charitable funds|||359,763|341,767|
|Total funds|||61,555,006|61,156,159|
|||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|
||Notes|funds|funds|2022|2021|
|||||6|6|
||||||Note 16|
|Net income as per the||||||
|Statement ofFinancial Activities||31,998|366,849|398,847|223,908|
|Adjustments
for:||||||
|Rents receivable||(30624)||(30,624)|(29,902)|
|Interest receivable||(142)||(142)|(1,235)|
|Rental overheads
payable||11,193||11,193|9,497|
|Depreciation
charges||5,786||5,786|6,537|
|Decrease/(increase)
in debtors||(4,807)|(118,445)|(123,252)|(41,913)|
|Increase/(decrease)
in creditors||13,340|(8,654)|4686|(76,433)|
|Net cash provided
by operating||||||
|activities||26744|239,750|266,494|90,459|
|Cash flows from investing|activities:|||||
|Rents received||31,409||31,409|29,589|
|Interest received||142||142|1,235|
|Rental overheads
paid||(10,754)||(10,754)|(10,469)|
|Net cash provided
by investing||||||
|Activities||20,797||20,797|20,355|
|Cash flows from financing|activities:|||||
|Mortgage repayments|7|(18,082)||(18,082)|(18,579)|
|Net cash (used in) financing|activities|(18,082)||(18,082)|(18,579)|
|Net change in cash||29,459|239,750|269,209|92,235|
|Cash balances brought forward||222,200|340,882|563,082|470,847|
|Cash balances carried forward||6251,659|6580,632|6832,291|f563,082|
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||||||||2022|2021|
|---|---|---|---|---|---|---|---|---|
|Activity|||||||||
|Community
Engagement|||||||122,885|111,557|
|Rural Housing Enabler Service|||||||42,148|37,210|
|Village Halls Advice Service|||||||53,618|47,303|
|Community
Agents Essex|||||||660,000|783,000|
|Home from Hospital / Social|Prescription
Service||||||62,500|62,500|
|Social Isolation &Loneliness|Programme||||||260,543|269,739|
|Help Essex Buy Local||||||||14,979|
|Growing Communities||||||||2,500|
|Strategic Influencing
and Partnership||Working|||||145,057|132,503|
|Essex Rivers|||||||2,114|47,800|
|Find your active|||||||157,482||
|Covid Building Grant|||||||750,000||
|Social Isolation Computer
Grant|||||||200,000||
|Afghan Refugee Fund|||||||4,384||
|Essex Wellbeing Service|||||||23,781||
|Restricted Grant Making Funds (Note||10)||||||500|
||||||||f'2,484,512|61,509,591|
|The above figures include the following
'government|||||grants':||||
|Source||Acuvity|||||||
|Essex County Council||Community|Agents||||660,000|753,000|
|Essex County Council||Social Isolation|||Programme||260,043|256,390|
|Essex County Council||Social Isolation||Computer||Grant|200,000||
|Essex County Council||Covid Building|||Grant||750,000||
|Essex County Council||Find your active|||||157,482||
|Essex County Council||Afghan Refugee|||Fund||4,384||
|Essex County Council||All unrestricted|||activities||150,000|150,000|
|DEFRA||Essex Rivers||||||47,800|
|DEFRA (via ACRE)||AII unrestricted|||activities||47,875|48,375|
|District/Borough
Councils||Rural Housing||Enabler|||6,000|5,000|
|Total government
grants||||||||f1,260,565|
##
##
|PENDITURE ON CHARITABLE ACTI|VITIES|||
|---|---|---|---|
|Year to31March 2022|Direct
costs|Support
costs|Total
2022|
|Community
Engagement|84,815|33,656|118,471|
|Rural Housing
Enabler Service|23,806|16,828|40,634|
|Village HaHs Advice Service|32,059|19,633|51,692|
|Community
Agents Essex|623,136|37,500|660,636|
|Home from Hospital / Social Prescription|62,500||62,500|
|Social Isolation &Loneliness Programme|224,053|9,524|233,577|
|Help Essex Buy Local|3,399||3,399|
|Growing Communities|1,321||1,321|
|Strategic Influencing
and Partnerships|94,972|44,875|139,847|
|Essex Rivers|1,954||1,954|
|Find your active|25,616||25,616|
|Covid Building Grant|742,394||742,394|
|Social Isolation Computer
Grant|2,176||2,176|
|Afghan Refugee Fund||||
|Essex Wellbeing Service|23,781||23,781|
|Restricted Grant Making Funds (Note 10)||||
||1,945,982|162,017|2,107,999|
|Year to31March 2021|Direct
costs|Support
costs|Total
2021|
|Community
Engagement|51,847|54,767|106,614|
|Rural Housing
Enabler Service|19,914|15,647|35,561|
|Village Halls Advice Service|26,952|18,255|45,207|
|Community
Agents Essex|620,166|30,900|651,066|
|Home from Hospital / Social Prescription|57,500|5,000|62,500|
|Social Isolation &Loneliness Programme|210,248||210,248|
|Help Essex Buy Local|15,867||15,867|
|Growing Communities|2,077||2,077|
|Strategic Influencing
and Partnerships|84,906|41,726|126,632|
|Essex Rivers|40,399|9,799|50,198|
|Restricted Grant Making Funds|3,693||3,693|
||f1,133,569|Kl76,094|61,309,663|
##
##
|||||||2022|2021|
|---|---|---|---|---|---|---|---|
|||||||6||
|Wages and|salaries|||||639,000|628,349|
|Employer's|national|insurance||contributions||39,534|36,347|
|Employer's|cont'ns|-defined||benefit pension scheme||105,709|111,547|
|Employer's|contributions||—defined contribution||pension scheme|6,606|5,292|
|Total salary|and on-costs|||||6790,850|678L535|
##
|||2022|2021|
|---|---|---|---|
|Salary and on-costs||6,465|6,337|
|Statutory|audit fees|4,350|3,900|
|||610,815|610,237|
##
||Long-||ICT||Fixtures||
|---|---|---|---|---|---|---|
||leasehold|Office|hardware|&|&||
||property|equipment|software||fittings|Total|
||6||||6||
|Cost/ Valuation|||||||
|As at 1April 2021 and|||||||
|31March 2022|725,000|18,612|11,911||4,704|760,227|
|Depreciation|||||||
|As at 1April 2021|24,480|17,110|11,911||3,888|57,389|
|Charge for period|4,080|1,502|||204|5,786|
|As at 31March 2022|28,560|18,612|11,911||4,092|63,175|
|Net book value|||||||
|As at 31March 2021|6700,520|fL502|||6815|6702,837|
|As at 31March 2022|6696,440||||f611|6697,051|
##
|||||2022|2021|
|---|---|---|---|---|---|
|||||6|6|
|National|Savings|- Income|Bonds|EI00,000|f100,000|
##
||||||2022|2021|
|---|---|---|---|---|---|---|
||||||6||
||Trade debtors||||207,029|85,199|
||Grants receivable|||||7,773|
||Other debtors||||1,347|3,055|
||Prepayments||||12,578|2,460|
||||||6220,954|698,487|
|7|CREDITORS||||||
||||||2022|2021|
||Amounts
faHin|due within one||ear|||
||Trade/other
creditors||||29,844|40,757|
||Income received|in advance|||10,368|5,911|
||Accruals||||47,424|33,823|
||Mortgage capital|instalments|||18,345|18,217|
||Value added tax||||8,213|12,382|
||Pay-as-you-earn|tax (PAYE)|||10,305|8,156|
||||||6124,499|6119,246|
||||||2022|2021|
||Amounts
fallin|due after one|ear||||
||Mortgage capital|uxstalments|||6170,791|6189,001|
##
||2022|2021|
|---|---|---|
|Financial Assets|||
|Fixed asset investments
(Note 5)|100,000|100,000|
|Trade debtors (Note 6)|207,029|85,199|
|Cash atbank and in hand|832,291|563,082|
|Carrying value offinancial assets|&,139,320|f748,281|
|Financial Liabilities|||
|Trade/other
creditors (Note 7)|29,844|40,757|
|Mortgage capital instalments
(Note 7)|189,137|207,218|
|Carrying value offinancial liabilities|&18,981|f247,975|
##
|rk building|- is as fo|llows:|||
|---|---|---|---|---|
||||2022|2021|
|Receivable|within 1|year|10,965|27,936|
|Receivable|between|1 and 5years||11,394|
||||610,965|f'39,330|
##
##
|||||Activities|Grant||||
|---|---|---|---|---|---|---|---|---|
|||Balance
1April|Total|under-
taken|funding
of|Total
expend-|Tran|Balance
31March|
|||2021|income|directly|activities|iture|fess|2022|
|Restricted Activities described|||||||||
|in the Directors' Report|||||||||
|Community
Agents Essex||163,681|660,000|358,553|3028)84|660,636||163,044|
|Social Isolation and Loneliness
Find your Active||143,740|260&3
157,482|227,802
25,616|5,775|233,577
25,616||170,706
131466|
|Social Isolation Computer|Grant||200,000|2,176||2,176||197,824|
|EWSVolunteer
Service|||23,781|23,781||23,781|||
|Covid Community
Building Fund|||750,0IN||742,394|742,394||7,606|
|Growing Communities||2,946|||1321|1,321||1,625|
|Essex Rivers|||2,114|1,954||1,954||160|
|Restricted Grant-Making|Funds||||||||
|'Making ItHappen'||2,000||||||2,000|
|'Surviving
Winter Appeal|Fund'|502||||||502|
|'Natural
Environment'
Project
'Fighting
Rural Crime' Protect
'Afghan Refugee Fund'||6,700
1322||||||6,7IN
1,522
4,384|
||||62,058,304|6639,881|EI,051,574|61,691,455||f687,939|
##
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##
|NREST|RICTED FUNDS|||||
|---|---|---|---|---|---|
||||Designated|Free Core|Total|
||||Capital|Charitable|Unrestricted|
||||Fund|Funds|Funds|
|||||6||
|As at 1April 2021|||493,302|341,767|835,069|
|Net movement
in unrestricted||funds||31,998|31,998|
|Transfers|to/ from Designated|Capital Fund:||||
|Reduction|in value oflong leasehold property||(4,080)|4,080||
|Reduction|in mortgage||18,082|(18,082)||
|As at 31March 2022|||6507,304|6359,763|6867,067|
##
||||||Ongoing Valuation|FRS102|FRS102|
|---|---|---|---|---|---|---|---|
||||||2018|2018|2017|
|Financial|assum|tions||||||
|RPI increases|||||3.57%|3.3%|3.6%|
|Salary increases|||||4.17%|2.3%|42%|
|Pension|increases||||2.67%|2.3%|2 7%|
|Discount|rate||||5.19%|26%|2.8%|
|Assumed|life ex|ectanc|from a e65|ears||||
|Retiring|today - males||||22.2|22.2|22.1|
|Retiring|today - females||||24.7|24.7|24.6|
|Retiring|in 20years - males||||24.4|24.4|24.3|
|Retiring|in 20years - females||||27.0|27.0|26.9|
##
##
##
|actuary's
estimated
ws:|asset allocation
for th|e company
as at t|he 2018 and 2017year-e|nds
was a|
|---|---|---|---|---|
||||2018|2017|
|Equities|||66%|68%|
|Gilts / other bonds|||11%|8/0|
|Property|||9%|10/0|
|Cash / alternative|assets / other managed|funds|14%|14o/|
|e assumptio|ns
gave rise to the following val|uations:|||
|---|---|---|---|---|
|||Ongoing Valuation|FRS102|FRS102|
|||2018|2018|2017|
|Present value ofdefined benefit liabilities||(LL437,000)|(E2,340,000)|(f2,327,000)|
|Fair value|offund assets|62,038,000|EI,999,000|61,706,000|
|Net defined|benefit pension asset/(liability)|6601,000|(634%000)|(6621,000)|
##
##
||||||2022|2021|
|---|---|---|---|---|---|---|
|Financial|assum|tions|||||
|RPIincreases|||||3.45%|315%|
|Salary increases|||||3.20%|2.80%|
|Pension|increases||||3.20%|2.80%|
|Discount|rate||||2.60%|2.00%|
|Assumed|life ex|ectanc|from a e65|ears|||
|Retiring|today - males||||21.6|21.6|
|Retiring|today - females||||23.7|23.6|
|Retiring|in 20years - males||||23.0|22.9|
|Retiring|in 20years - females||||25.1|25.1|
|actuary's
estimated|asset allocation for the|company as at the|year-end was as follows:||
|---|---|---|---|---|
||||2022|2021|
|Equities|||60%|62%|
|Gilts / other bonds|||6%|8%|
|Property|||8%|70/|
|Cash / alternative|assets / other managed|funds|25%|24%|
|Anal
sis ofthe amounts that would have been reco|Anal
sis ofthe amounts that would have been reco|ised in the|2022|2021|
|---|---|---|---|---|
|SOFA under FRS102|||L000|6'000|
|Current service cost|||(144)|(115)|
|Net interest on the defined benefit pension liability|||(6)|(2)|
|Total amount that would have been recognised|in net|income|(150)|(117)|
|Return
on fund assets in excess ofinterest|||249|616|
|Other actuarial gains|||||
|Changes in financial &demographic
assumptions|||181|(840)|
|Experience (gain) on defined benefit obligations|||(8)|28|
|Total amount that would have been recognised|as an|actuarial|||
|(loss)/gain|||422|(196)|
|Net amount that would have been recognised|in the SOFA||272|(313)|
##
##
||Anal
sis ofthe amount that would|have|have|been reco
ised|been reco
ised|in the|2022|2021|
|---|---|---|---|---|---|---|---|---|
||Balance Sheet under FRS102||||||6000|6000|
||Present value ofdefined benefit scheme||liabilities||||3,400|3,371|
||Fair value offund assets (bid value)||||||3,478|3,072|
||Net defined benefit pension liability||||||(78)|299|
||Reconciliation ofthe o enin
and closin|||balances ofthe||resent|2022|2021|
||value ofthe defined benefit scheme liabilities||||under FRS102||6000|6000|
||Opening present value of defined benefit|||scheme|liabilities||3,371|2,382|
||Current service cost||||||144|115|
||Interest cost||||||67|56|
||Changes in financial &demographic|assumptions|||||(181)|840|
||Experience (gain) on defined benefit|obligations|||||8|(28)|
||Estimated
benefits paid net oftransfers||in||||(28)|(14)|
||Contributions
by scheme participants||||||19|20|
||Closing present value ofdefined benefit||scheme liabilities||||3,400|3,371|
||Reconciliation
ofthe o enin
and closin|||balances ofthe||fair|2022|2021|
||value ofthe fund assets
under FRS102||||||6"000|6'000|
||Opening fair value offund assets||||||3,072|2,285|
||Interest on assets||||||61|54|
||Return on assets less interest||||||249|616|
||Other actuarial gains||||||||
||Estimated benefits paid net oftransfers in||||||(28)|(14)|
||Contributions
by employer||||||105|111|
||Contributions
by scheme participants||||||19|20|
||Closing fair value offund assets||||||3,478|3,072|
|13|ANALYSIS OFNET ASSETSBETWEEN FUNDS||||||||
||||||Unrestricted||Restricted|Total|
||31March 2022|||||Funds|Funds|Funds|
|||||||||6|
||Tangible fixed assets|||||697,051||697,051|
||Fixed asset investments|||||100,000||100,000|
||Current assets —debtors|||||64,736|156,218|220,954|
||Current assets —cash at bank and in hand|||||251,659|580,632|832,291|
||Current liabilities|||||(75,588)|(48,911)|(124,499)|
||Long-term
liabilities|||||(170,791)||(170,791)|
||Net assets at 31March 2022||||6867,067||6687,939|6L555,006|
##
##
||Unrestricted|Restricted|Total|
|---|---|---|---|
|31March 2021|Funds|Funds|Funds|
||E||6|
|Tangible fixed assets|702,837||702,837|
|Fixed asset investments|100,000||100,000|
|Current assets —debtors|60,714|37,773|98,487|
|Current assets —cash at bank and in hand|222,200|340,882|563,082|
|Current liabilities|(61,681)|(57,565)|(119,246)|
|Long-term
liabilities|(189,001)||(189,001)|
|Net assets at 31March 2021|6835,069|f321,090|6L156,159|
##
##
||Unrestricted|Restricted||
|---|---|---|---|
|Year ended 31March 2021|funds|funds|Total|
|Income from:||||
|Charitable
activities|406,052|1,103,539|1,509,591|
|Donations|2,340||2,340|
|Investments||||
|Rents receivable|29,902||29,902|
|Interest receivable|1,235||1,235|
|Total income|439,529|1,103,539|1,543,068|
|Expenditure
on:||||
|Charitable
activities|392,380|917,283|1,309,663|
|Investment
management||||
|Rental overheads|9,497||9,497|
|Total expenditure|401,877|917,283|1,319,160|
|Net income before transfers|37,652|186,256|223,908|
|Transfers between funds||||
|Net income after transfers|37,652|186,256|223,908|
|Total funds brought forward|797,417|134,834|932,251|
|Total funds carried forward|f'835,069|6321,090|L1,156,159|
||||Unrestricted|Restricted||
|---|---|---|---|---|---|
|Year ended 31March 2021|||funds|funds|Total|
||||6|||
|Net income as per the Consolidated||||||
|Statement of Financial Activities|||37,652|186,256|223,90$|
|Adjustments
for:||||||
|Rents receivable|||(29,902)||(29,902)|
|Interest receivable|||(1,235)||(1,235)|
|Rental overheads
payable|||9,497||9,497|
|Depreciation
charges|||6,537||6,537|
|Decrease/(increase)
in debtors|||(36,279)|(5,634)|(41,913)|
|(Decrease) in creditors|||(30,918)|(45,515)|(76,433)|
|Net cash provided by/ (used|in)|||||
|operating
activities|||(44,648)|135,107|90,459|
|Cash flows from investing|activities:|||||
|Rents received|||29,5$9||29,589|
|Interest received|||1,235||1,235|
|Rental overheads
paid|||(10,469)||(10,469)|
|Net cash provided by investing||||||
|activities|||20,355||20,355|
|Cash flows from financing|activities:|||||
|Mortgage repayments||7|(18,579)||(18,579)|
|Net cash (used in) financing|activities||(18,579)||(18,579)|
|Net change in cash|||(42,872)|135,107|92,235|
|Cash balances brought forward|||265,072|205,775|470,847|
|Cash balances carried forward|||f'222,200|f340,882|6563,082|