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REGISTERED COMPANY NUMBER: 04610839 (England and Wales) REGISTERED CHARITY NUMBER: 1099202
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Report of the Trustees and
Consolidated Financial Statements For The Year Ended 31 March 2022
for
Warren House Group At Dartington
Bromhead Chartered Accountants Statutory Auditors Harscombe House 1 Darklake View Plymouth Devon PL6 7TL
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Warren House Group At Dartington
Report of the Trustees For The Year Ended 31 March 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 31 March 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).
Message from Ruth Dobson, Chair of Trustees
If last year was a period of rapid adjustment and agility for the Warren House Group at Dartington (in light of the COVID-19 pandemic), this current year (2021/22) may be well characterised as a period of stability, recovery and bounce-back. Fortunately, as an organisation, we were able to respond very effectively to the acute demands of the pandemic in the preceding year. This meant that at the start of 2021/22 we were well positioned to play a strong role in supporting recovery efforts helping funders, commissioners and service delivery organisations best support children and families.
As described more fully by our CEO in this report, this year we published our updated strategy, secured a number of large, high-profile and impactful initiatives, fonmed new collaborative partnerships and have grown in terms of our team size and tumover. We have an increasing focus and commitment to equity and anti-racism and | am delighted to see our team continue to play a pivotal role in working with partners tackling disadvantages faced by children and families during these challenging times.
Of course, there remains a lot of uncertainty and instability. Whilst the outlook for the short term suggests a continued and growing investment in recovery efforts, the economic outlook in the medium term is less certain. The rising cost-of-living crisis will not only affect children, families and communities, driving-up poverty and inequality, but will also likely impact on central, local and philanthropic expenditure in years to come. That said, our strong and increasing reserves (contributed to this year), coupled with our innovative approaches to generating and using evidence and our ever-strengthening reputation makes us well-placed to adapt and makea positive contribution as we navigate the years to come.
The way that the Charity has grown, responded and developed over the year is a testament to the agility and spirit of our CEO, the Senior Management Team (SMT) and all our dedicated staff. As the charity develops further, so too has the structure and composition of the SMT. This gratitude is also extended to the whole of the Board of Trustees, who have generously given their time, experience and commitment in supporting the Executive, the team and me as Chair over the year. carefully assessing and holding risk and regularly taking stock to reflect on our impact and iteratively refining our strategies and approach over the year. | have been particularly delighted to welcome a number of new Trustees to the Board in recent months. | am very much looking forward to working with them and — as ever — learning from their experience and insights as we work together for the good of the Charity and the sector.
We look forward to building on the successes of the year, ensuring we remain agile, strong and ready to play the most impactful role we can in addressing the challenges that will inevitably be faced in the years to come.
Message from Dr Tim Hobbs, CEO of the charity
Whilst the year has continued to pose many challenges — including ongoing waves of the pandemic and evolving restrictions — this past year has been the strongest year since we launched the Dartington Service Design Lab back in 2017. As a team, we have been galvanised to work together to address the growing inequalities experiences by children, families and communities. This year we published an updated strategy outlining our commitments to advancing innovative approaches to the generation and use of evidence, forming long-term committed partnerships in places and sharing and championing our work and that of others. We also published a position paper on anti-racist social research and design and have started enacting a number of commitments and actions to tackle racism and inequality (see more below).
We've secured a range of long-term contracts and partnerships, which are not only enabling us to bring our strategic intent to life but are also building a strong and stable financial footing as we navigate what is likely to be uncertain and challenging years ahead. We've forged new partnerships with world-leading academic institutions (including UCL and Cambridge University), and taking forward new progressive research with ‘what works centres’ alongside work with local authorities, new Integrated Care Systems and numerous service delivery organisations, large and small. All this creates a rich opportunity and platform for innovative and impactful practice. As a result, the coming year will see an increasing focus on sharing our learning and experiences more publicly (as part of our ‘championing evidence’ strand of our strategy). We've also grown significantly as a team, not only in terms of size, but also our diversity and inter-disciplinary composition. Despite staff tumover and recruitment being an increasing challenge across many sectors, over the year we have taken on new researchers, systems science specialists, designers and communications experts. As we've increased in size, we've also evolved our Senior Management Team, including creating new Director of Learning and Impact and Director of Research positions (and are indebted to our outgoing Deputy CEO, Jenny North, who helped us develop to this point).
As such, despite what has been an intense few years as we navigate the impact of global and macro-economic shocks, | am more energised, committed and passionate than ever before to build upon these successes so that we can most impactfully support those working to improve the circumstances and outcomes of children, families and communities who continue to suffer and face inequality and disadvantage.
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Warren House Group At Dartington
Report of the Trustees For The Year Ended 31 March 2022
OBJECTIVES AND ACTIVITIES Objectives and aims
The Warren House Group at Dartington (WHG) is the registered name of the charity. It operates a trading subsidiary ‘The Dartington Service Design Lab' a company [No. 12613600] limited by a single share which the Charity wholly owns; it also shelters the Centre for Sociai Policy.
We are a research and design charity dedicated to improving outcomes for children and young people. We innovate to ensure that research and evidence plays a valued and impactful role in the design and implementation of services for children and families.
We work in close partnership with those commissioning, designing or delivering services for children. Our work is grounded in data and evidence, as well as a deep understanding of public systems and the diverse needs and community contexts they serve. We bring together expertise in social research, service design, systems thinking and data science.
Our activities include children’s services strategy development, service design, rapid-cycle design and testing, system reform, evidence reviews and data analytics and visualisation - all of which you can read about here: www.dartington.org.uk.
Significant activities
Over the course of the year, we worked with over 28 different clients on a range of activities to help them generate or use evidence to inform their work and have a greater impact. New significant activities during the year include:
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(i) Securing two large-scale, multi-year initiatives. First is called ‘Kailo' - a £5.3m award from the UK Prevention Research Partnership (UKPRP) to a consortium co-led by Dartington Service Design Lab and UCL (c£0.8m to Dartington over the five years of the initiative). This is focused on using evidence and design to address the social determinants of adolescent mental health. The second is a 3+ year embedded evaluation of LEAP, a £40m 10-year investment to improve early years outcomes. Each of these initiatives will allow us advance our thinking and methods and make or measure what we hope to be a demonstrable impact on child outcomes.
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(ii) New work also started with three ‘what works centres’ (WWCs). As well as concluding a learning partnership role for the Youth Endowment Fund's (YEF) COVID-19 Grant Round, we also commenced a new Learning Partnership — with collaborators Renaisi — around YEF'’s Neighbourhood Fund. In addition, we commenced a formative evaluation role for one of the Youth Futures Foundation (YFF) youth employability grantees, and started an area of earlier stage iterative testing work for the largest WWC — the Education Endowment Foundation. This is allowing us to test and develop our Rapid-cycle Design and Testing approaches.
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(ii) We partnered with the Early Intervention Foundation to embark on a rapid review of the Home Office’s investments in Trauma-informed Training in the youth justice system (which will conclude in 2022), which represents an excellent opportunity to influence national policy.
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(iv) | We supported a range of small and large service delivery organisations working with children and families to develop their activities, including theory of change development and designing approaches to leaming and evaluation.
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(v) In Scotland, we concluded a significant three-year systems change initiative focused on tackling coercive control and young people’s mental health (for the National Lottery Community Fund’s Early Action Systems Change fund), the learning from which is feeding into a range of other activities with Scottish local authorities and funders, such as Cattanach.
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In the summer of 2021, we published a position paper on our approach to anti-racist social research and design. This was in response to increasing recognition of structural racism across society. In this paper, we set out the ways in which racism is manifest in social research and design, and how we and others can mitigate against this. We set out a number of actions and commitments. For 2021/22, these commitments included: (a) embedding de-biased approaches to recruitment (we now routinely use a platform called BeApplied for all recruitment); (b) developing and publishing an Equality Impact Assessment Framework to underpin our work (see: httos:/Avww.dartington.org.uk/publicationsandresources); (c) identifying and commissioning training for the team on equity, diversity and inclusion (training was provided on equity and intersectionality); (d) reviewing and enhancing approaches to further enhance workplace inclusivity (in progress); (e) publishing an anti-racist research policy (see: https:/Awww.dartington.org.uk/antiracismpolicy); and (f) publicly documenting progress against these commitments. With the exception of (d) - which is in progress — all other actions have taken place (this report reflecting the latter). Actions and commitments will continue to be developed in coming years.
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Warren House Group At Dartington
Report of the Trustees For The Year Ended 31 March 2022
In the winter of 2021/22, we published our updated strategy. This laid out our direction for the coming years and is guiding the work that we undertake and pursue. It was well received within the sector, and in the coming year we'll be sharing examples of the strategy in action.
In response to increasing demand, and in line with our strategy in which we aspire to take an increasingly interdisciplinary approach to our work, we have increased the staff team this year (and laid foundations for further growth in 2022/23). During 2022, our team had grown from 17 at the start of the year, to 19 by year end (with recruitment underway for six new positions in early 2022/23). This includes a bolstered Senior Management Team, including a new positions of Director of Research and Director of Learning and Impact.
The Centre for Social Policy
In addition to the Lab element of the Charity - which represents the vast majority of activity - the WHG has since 1995 also run the Centre for Social Policy (CSP). This was established to provide a resource for people who have left posts connected to established organisations or who work independently. it is a facility to be used as the CSP members (Fellows) wish but it provides them with a link to a multi-disciplinary peer group and enables them to keep up to date with current issues. In return, Lab staff have ready access to a range of experts familiar with its work. The current officers are John Diamond (Chair), Patrick Diamond (WHG Trustee), Roger Bullock (Treasurer) and Brian Warren (Secretary). Currently the Centre comprises of 52 fellows representing eleven disciplines. They contribute to the Lab's activities by, for example, joining project advisory groups, serving on the Charity's Ethical Committee, offering advice to researchers and organising seminars in which Lab staff participate. These contributions were sustained over 2021/22 despite the constraints imposed by COVID-19.
During 2021/22, the CSP held two virtual seminars and summaries of these and emerging papers are posted on the CSP website: www.centreforsocialpolicy.org.uk. A third seminar planned in collaboration with the Mulberry Bush Child Care History Network had to be postponed. ,
During the year, the CSP Ethical Committee, which comprises five fellows and co-opted consultants as needed, gave independent ethical approval to four Lab research proposals and for one collaborative project.
The Centre has its own constitution and its activities are overseen by the Charity's Board. It remains largely self-funding. A full programme of activities will be resumed now that the pandemic restrictions have eased and a CSP-Lab working group is exploring the contribution that the Centre might make to the Lab and the Charity in the future.
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Warren House Group At Dartington
Report of the Trustees For The Year Ended 34 March 2022
FINANCIAL REVIEW Financial position Message from Treasurer — Joel Glover
Excellent performance in Quarter 4 of the previous year (2020/21) meant that we started the new financial year with a strong pipeline of potential work that was of significant value over multiple years. The sharp focus on income generation throughout the financial year was maintained throughout resulting in the best performance for a number of years and increasing the charity’s reserves by £38,441. Of significance, the portfolio of multi-year work that was contracted has seen an encouraging start to FY22/23 and beyond.
The Finance and Operations Subcommittee of the Board meet monthly and continues to monitor the financial and risk profile of the charity throughout the year, ensuring a steady financial footing and acceptable level of financial risk.
It remains the Board's intention that financial reserves steadily be built, given economic uncertainty and risks that lie ahead, in particular due to ongoing economic shocks and cost-of-living crisis.
The charity has for a number of years offered its staff a pension arrangement through the University Superannuation Scheme (USS). The latest actuarial evaluation of the USS has revealed a continuing deficit that the charity must recognise its share of. This is reflected in a provision in the 2021/22 accounts of £47,403. Although it reduces the free reserves of the charity, in cash terms, the deficit is paid over 16 years as an annua! cash contribution to the USS.
The creation of a social enterprise trading subsidiary in 2020 very successfully continues to allow us to deliver a wide range of more commercially and consultancy-based functions that are not ideally suited to the constraints of being a charity.
The charity retains an office base at Buckfast Abbey with the team working remoiely across the country. These more flexible working practices continue to pay dividends, especially through the pandemic lock-downs.
The fallout of the pandemic continues to indicate deep social and economic challenges ahead, with the work of the Lab increasingly in demand. Overall, the charity is well placed to deliver its charitable objectives whilst also meeting. the financial goals the Trustees have set; it will continue to consolidate its position in the sector and achieve a positive impact for children and families.
FINANCIAL REVIEW
Investment policy and objectives
Unrestricted, undesignated funds are held as cash in the bank and where appropriate money is placed on timed deposit to attract interest. Due to the need to manage large fluctuations in cash flow, no money is currently placed in any other investment vehicle. This is kept under regular review.
The Trustees have the power to invest the charity's money not immediately required, for its object in any investments, securities or property. Investment powers can be delegated to a financial expert provided that the financial expert is:
An individual who is an authorised person within the meaning of the Financial Services and Markets Act 2000; or A company or firm of repute which is an authorised or exempt person within the meaning of that Act except persons exempt solely by virtue of Article 44 and/or Article 45 of the Financial Services and Markets Act 2000 (exemption) order 2001.
Reserves policy
In 2022, the Trustees reviewed its reserves policy and concluded that it needs to have a minimum of 6 months of the annual forecast expenditure in unrestricted reserve with a target level of 9 months up to a maximum of 15 months.
At 31 March 2022 the level of unrestricted funds, not already designated, amounted to £1,211,463 (2021: £1,021,089). There were no restricted reserves (those with restrictions placed on their use by the donors) at year end (2021: £151,933).
The reserve levels held at the year end, would currently cover more than the minimum reserve levels required of £665,000 based upon a calculation of committed expenditure in the event of decision to close down. However, the reserves held are within the scope of the policy being up to the level of 9 months and up to a maximum of 15 months.
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Warren House Group At Dartington
Report of the Trustees For The Year Ended 31 March 2022
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
The governing documents of the charitable company are its Memorandum and Articles of Association. The Directors who are Trustees of the charity in office during the year are listed separately in the Legal and Administrative Information section. In mid 2019 an independent review of the govemance of the charity was undertaken and the outcomes reflected well on the organisation. Of the minor efficiency and best practice recommendations presented to the Board, all have now been adopted.
The Trustees meet four times a year with additional meetings being called as necessary with three sub committees delegated to support the charity at a more operational level - these include Finance and Operations, People and Strategy. The day-to-day management of the charity is the responsibility of the CEO.
Recruitment and and appointment of new trustees new trustees trustees
Recruitment and and appointment of new trustees new trustees trustees : During 2021/22, two Trustees retired from the Board. In 2022/23, at least one Trustee is due to retire as they approach the end of their third and final term. As such, to ensure the on-going strength of the Board and govemance of the Charity, towards the end of 2021/22 a process of Trustee recruitment was implemented resulting in eight new Trustees to be formally appointed in the spring and early summer of 2022. The new Trustees were recruited with the assistance of a specialist agency based around a skills audit of existing Trustees and a future needs analysis. The Board also made use of the BeApplied system used by the Charity for staff recruitment. Candidates were shortlisted and interviewed by a panel of existing Trustees. All new Trustees have been appointed to serve initially for 3 years in accordance with the memorandum and articles of the company.
Induction and training of new trustees
All Trustees have received an enhanced DBS check as well as an extensive, rigorous and on-going induction and training process covering such matters as awareness of a Trustee's responsibility, the governing document, administrative procedures, the history and philosophical approach of the charity.
All Trustees have received copies of the previous year's Annual Return report, accounts and a copy of the Charity Commission leaflet "The Essential Trustee: What you need to know". Trustees are also offered the opportunity to engage in training with external organisations, should they wish to take this up.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Pay and Remuneration Policy
Staff salaries and progression are implemented using a salary banding structure, supported by annual performance appraisal process. Until the end of 2020/21 a collective scheme was employed whereby all staff (except the SMT) (with certain exceptions such as under performance, under probation or resignation) were awarded a discretionary but equal bonus (subject to the normal deductions of PAYE Tax and NI, but not considered pensionable), wholly dependent on the Lab's performance against strategic objectives (including financial) set by the Board. The SMT's and CEO's bonus and remuneration remain at the discretion of the Board of Trustees.
An equitable Bonus was awarded in 2021/22.
Following consultation, for 22/23 onwards the bonus scheme will be abolished and a new trial scheme called the Health and Wellbeing Allowance will be implemented.
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Warren House Group At Dartington
Report of the Trustees For The Year Ended 31 March 2022
Risk management
The Trustees have considered the risks to which the charity is exposed and have established systems for mitigating those risks. External risks have been minimised by the adoption of a new strategic plan, reviewed on quarterly basis, which includes a strategy for securing funds from a wide range of sources. Internal risks are minimised by implementing procedures for authorising transactions, projects etc, and to ensure consistent quality of delivery for all operational aspects of the charity.
The Trustees have a risk-management monitoring regime which comprises:
- e A quarterly review of the principal activities, including risks and uncertainties that the Lab face;
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e An on-going review of policies, systems and processes by the Senior Management Team of the Lab to mitigate those risks that are identified;
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e The implementation of procedures designed to minimise or manage any potential negative impact on the charity should identified as risks materialise.
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The principal risk of financial sustainability for the charity is very closely monitored and reviewed by the Honorary Treasurer monthly, and quarterly by all Trustees. Attention also continues to focus on non-financial risks arising from safeguarding, GDPR, health and safety, reputation, security, confidentiality, welfare, morale etc., which are supported by robust policies and procedures as well as regular staff awareness updates.
The Charity have had due regard to principals of recommended practices as set out by the ‘Charity Governance Code’ and have applied these wherever practicable and in decision making.
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Warren House Group At Dartington
Report of the Trustees For The Year Ended 31 March 2022
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 04610839 (England and Wales)
Registered Charity number 1099202
Registered office Lower Ground Floor Higher Mills Buckfast Abbey Buckfastleigh Devon TQ11 OEE
Trustees
R M Dobson Chair of Trustees
J JH Drew CBE Senior Independent Director
VN Hansen Honorary Treasurer (resigned 16.4.21) P Diamond
D C Archibald
JR Glover Honorary Treasurer J Belanger
B G Oxley (resigned 19.5.21) D Burke (resigned 12.5.22) D Derbyshire (appointed 12.5.22)
S M Gates (appointed 12.5.22) P J Grigg (appointed 12.5.22) M Neophytou (appointed 12.5.22) L M Patrontasch (appointed 12.5.22) H C Stoddart (appointed 12.5.22)
Auditors
Bromhead
Chartered Accountants Statutory Auditors Harscombe House 1 Darklake View Plymouth Devon PL6 7TL
Solicitors
Browne Jacobson 1 Manor Court
Dix's Field Exeter Devon EX1 1UP
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Warren House Group At Dartington
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Report of the Trustees For The Year Ended 31 March 2022
STATEMENT OF TRUSTEES’ RESPONSIBILITIES
The trustees (who are also the directors of Warren House Group at Dartington for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable !aw and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charity SORP; make judgements and estimates that are reasonable and prudent; prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware:
There is no relevant audit information of which the charitable company's auditors are unaware; and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.
AUDITORS
The auditors, Bromhead, will be proposed for re-appointment at the forthcoming Annual General Meeting.
Approved by order of the board of trustees on AML 2... and signed on its behalf by:
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R M Dobson - Trustee
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Report of the Independent Auditors to the Members of Warren House Group At Dartington
Opinion
We have audited the financial statements of Warren House Group At Dartington (the ‘charitable company’) its subsidiaries (the ‘group’) for the year ended 31 March 2022 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
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give a true and fair view of the state of the group’s and of the parent charitable company's affairs as at 31 March 2022 and of the group’s incoming resources and application of resources, including the group's income and expenditure, for the year then ended:
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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- have been prepared in accordance with the requirements of the Companies Act 2006.
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 Auditors’ responsibilities for the audit of the financial statements section of our report. We are independent of the group and the parent 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 concer 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 group and charitable company's ability to continue as a going concem for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concem are described in the relevant sections of this report.
Other information
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether 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.
Opinions on other matters prescribed by the Companies Act 2006
tn our opinion, based on the work undertaken in the course of the audit:
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the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and
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the Report of the Trustees has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.
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We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
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adequate accounting records have not been kept by the parent charitable company or retums adequate for our audit have not been received from branches not visited by us; or
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The parent company financial statements are not in agreement with the accounting records and returns; or
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- certain disclosures of trustees' remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit; or
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the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees.
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Report of the Independent Auditors to the Members of Warren House Group At Dartington
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Responsibllitios of trustees
As explained more fully in the Statement of Trustees’ Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the group and the parent charitable company's ability to continue as a going concem, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or the charitable company or to cease operations, or have no realistic alternative but to do so.
Our responsibilities for the audit of the financlal 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 a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We obtained an understanding of the laws and regulations applicable to the company through discussions with management, and those charged with governance. These laws and regulations which were considered to have a material effect on the financial statements or operations of the company were identified including following; Companies Act 2006, Employment Law, Health and Safety Act, Data Protection Act & Charities Act 2011.
We obtained an understanding of the entity's policies and procedures for assessing fraud risk and identifying actual or alleged fraud by making enquiries with managements and those charged with govemance and reviewing supporting correspondence with relevant authorities and advisors.
We obtained an understanding of the effectiveness of the entities control environment by testing of management override of controls, which includes but is not limited to; testing of journal entries, review of assumptions and judgements made in accounting estimate, and reviewing transactions occurring outside the normal scope of business.
The use of qualified and experienced staff members to ensure the audit team is comprised of only competent and capable members who are able to recognise and document any instances of non-compliance.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.
Use of our report
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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 JamescharitableGrovesoss(Senior Statutory asAuditor)a body, for our audit work, forthis report, or for the opinions we have formed.
(Senior for and on behalf of Bromhead
Chartered Accountants
Statutory Auditors
Harscombe House 1 Darklake View Plymouth Devon PL6 7TL
Date: PLY Ben
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Warren House Group At Dartington
Consolidated Statement of Financlal Activities (Incorporating an Income and Expenditure Account) For The Year Ended 31 March 2022
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|31.3.22|31.3.21|
|Unrestricted|Restricted|Total|Total|
|funds|funds|funds|funds|
|Notes|£|£|£|£|
|INCOME|AND|ENDOWMENTS|FROM|
|Donations|and|legacies|2|16,627|-|16,627|20,102|
|Charitable|activities|4|
|Research|and|Development|1,166,771|220,000|1,386,771|1,443,633|
|Investment|income|3|1,461|.|1,461|2,965|
|Other|income|5|2,473|-|2,473|-|
|Total|1,187,332|220,000|1,407,332|1,466,700|
|EXPENDITURE|ON|
|Charitable|activities|6|
|Research|and|Development|996,958|371,933|1,368,891|1,268,881|
|NET INCOME/(EXPENDITURE)|190,374|(151,933)|38,441|197,819|
|RECONCILIATION|OF|FUNDS|
|Total|funds|brought|forward|1,021,089|151,933|1,173,022|975,203|
|TOTAL FUNDS CARRIED FORWARD|1,211,463|-|1,21 1,463|11 73,022|
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The notes form part of these financial statements
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Warren House Group At Dartington (Registered number: 04610839)
Consolidated and Charity Balance Sheet 31 March 2022
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|---|---|---|---|---|---|---|---|---|---|---|
|||[202272022)]|2021)|202|||
|Notes|£|£|£|£|
|FIXED|ASSETS|
|Tangible|assets|11|31,797|3,361|5,151|§,151|
|Investments|12|:|1|-|1|
|31,797|3,362|5,151|§,152|
|CURRENT|ASSETS|
|Debtors|13|646,611|539,968|557,949|458,488|
|Cash|at|bank|929,664|716,773|1,286,205|864,578|
|1,576,275|1,256,741|1,844,154|1,323,066|
|CREDITORS|
|Amounts|falling|due|within|one|year|14|(349,206)|(238,694)|(634,154)|(296,247)|
|NET CURRENT ASSETS|1,227,069|1,018,047|1,210,000|1,026,819|
|TOTAL ASSETS|LESS|CURRENT|LIABILITIES|1,258,866|1,021,409|1,215,151|4,031,971|
|PROVISIONS|FOR|LIABILITIES|16|(47,403)|(47,403)|(42,129)|(42,129)|
|NET ASSETS|1,211,463|974,006|1,173,022|989,842|
|FUNDS|
|Unrestricted|funds|1,211,463|974,006|1,021,089|837,909|
|Restricted|funds|-|-|151,933|151,933|
|TOTAL FUNDS|1,211,463|974,006|1,173,022|989,842|
----- End of picture text -----
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
Thevee MILIOA _ financial BBgatements ccc. andwere were signedapprovedon itsbybehalfthe by:Board of Trustees and authorised for issue on
Page 12
The HIwwOo owe wroare WI MIDGO micaiweral oatements
ne
----- Start of picture text -----
Warren House Group At Dartington
----- End of picture text -----
| Consolidated Cash | Flow Statement | ||
|---|---|---|---|
| ForThe Year Ended 31 March 2022 | |||
| 31.3.22 | 31.3.21 | ||
| Notes | £ | £ | |
| Cash flows from operating activities | |||
| Cash generated fromoperations | 19 | (325,434) | 86,168 |
| Net cash (used in)/provided byoperating | activities | (325,434) | 86,168 |
| Cash flows from investing activities | |||
| Purchase of tangible fixed assets Sale oftangible fixed assets |
(36,946) 4,378 |
(1,017) | |
| Investment Joan | - | 50,000 | |
| Interest received | 1,461 | 2,965 | |
| Net cash provided by/(used in) investing | activities | (31,107) | 51,948 |
| Change in cash and cash equivalents | In | ||
| the reporting period | (356,541) | 138,116 | |
| Cash and cash equivalents at the | |||
| beginning ofthe reporting period | 1,286,205 | 1,148,089 | |
| Cash and cash equivalents atthe end | of | ||
| thereportingperiod | 929,664 | 1,286,205 |
The notes form part of these financial statements Page 13
Warren House Group At Dartington
.
- ACCOUNTING POLICIES
Notes to the Financlal Statements For The Year Ended 31 March 2022
Basis of preparing the financlal 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, with the exception of investments which are included at market value.
The charity constitutes a public benefit entity as defined by FRS 102.
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. There are no material uncertainties affect the current years accounts.
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.
Service contracts are recognised based on the stage of completion, which is measured by the amount of staff hours put against that contract. Income from the provision of services is stated after trade discounts, other sales taxes and net of VAT.
Grants, donations and investment income are recognised when receivable. Where such amounts have terms or conditions which must be met for specific activities, the relevant income is not recognised in the year but deferred and shown on the balance sheet within current liabilities.
Legacies are accounted for as income either upon receipt or where the receipt of legacy is probable, can be reliably measured and all conditions attached to the legacy have been fulfilled.
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.
Charitable activities
Charitable expenditure comprises of research, development and dissemination activity.
Allocation and apportionment of costs
Costs comprise direct expenditure including direct staff costs attributable to the activity. Staff costs are allocated in accordance to time spent on projects. Administration and management costs are allocated in the same way. Other costs are allocated in proportion to income generated by the activity.
Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Governance costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include costs related to statutory examinations and legal fees together with an apportionment of overhead and support costs. These costs are included within charitable activities when relevant.
Tangible fixed assets
Fixed assets are held at historic cost less accumulated depreciation.
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings -20% on cost Computer equipment -33% on cost
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.
Page 14
continued...
“
Warren House Group At Dartington Notes to the Financial Statements - continued For The Year Ended 31 March 2022
- ACCOUNTING POLICIES - continued
Fund accounting
The charity has designated certain funds for specific purpose although there is no legal force for the designations.
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.
Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
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 Financia! Activities in the period to which they relate.
FRS 102 makes the distinction between a group plan and a multi-employer scheme. A group plan consists of a collection of entities under common control typically with a sponsoring employer. A multi-employer scheme is a scheme for entities not under common control and represents (typically) an industry-wide scheme such as Universities Superannuation Scheme. The accounting for a multi-employer scheme where the employer has entered into an agreement with the scheme that determines how the employer will fund a deficit results in the recognition of a liability for the contributions payable that arise from the agreement (to the extent that they relate to the deficit) and the resulting expense in profit or loss in accordance with section 28 of FRS 102.
The trustees are satisfied that Universities Superannuation Scheme meets the definition of a multi-employer scheme and has therefore recognised the discounted fair value of the contractual contributions under the recovery plan in existence at the date of approving the financial statements.
The Charity participates in Universities Superannuation Scheme. The scheme is a hybrid pension scheme, providing defined benefits (for all members), as well as defined contribution benefits. The assets of the scheme are held in a separate trustee-administered fund. Because of the mutual nature of the scheme, the assets are not attributed to individual institutions and a scheme-wide contribution rate is set. The Charity is therefore exposed to actuarial risks associated with other institutions’ employees and is unable to identify its share of the underlying assets and liabilities of the scheme on a consistent and reasonable basis. As required by Section 28 of FRS 102 "Employee benefits", the charity therefore accounts for the scheme as if it were a wholly defined contribution scheme.
As a result, the amount charged to the profit and loss account represents the contributions payable to the scheme. Since the institution has entered into an agreement (the Recovery Plan) that determines how each employer within the scheme will fund the overall deficit, the charity recognises a liability for the contributions payable that arise from the agreement (to the extent that they relate to the deficit) and therefore an expense is recognised.
The charity's total liability under the recovery plan has been recognised in the accounts at its present value. Contributions towards this plan continue to be made on a monthly basis and the accounts will recognise the unwinding of the relevant discount provision.
Financial instruments
The trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
Creditors and Provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount.
Page 15
continued...
Warren House Group At Dartington
Notes to the Financial Statements - continued For The Year Ended 31 March 2022
| 2. | DONATIONS AND LEGACIES | ||||
|---|---|---|---|---|---|
| 31.3.22 | 31.3.21 | ||||
| £ | £ | ||||
| Donations | 16,627 | 20,102 | |||
| 3. | INVESTMENT INCOME | ||||
| 31.3.22 | 31.3.21 | ||||
| £ | £ | ||||
| Deposit account interest | 1,461 | 2,965 | |||
| 4. | INCOME FROM CHARITABLE ACTIVITIES | ||||
| Grants | Activity Research and Development |
31.3.22 £ 1,386,771 |
31.3.21 £ 1,443,633 |
||
| Included in grants received are | the following amounts received | from Governmentand | and other PublicAuthorities | Authorities | |
| 31.03.22 | 31.03.21 | ||||
| £ | £ | ||||
| Renfrewshire Midlothian Lab Will |
- - 202,798 |
74,000 25,000 155,751 |
|||
| N Ayrshire Oldham |
- 43,432 |
19,150 5,000 |
|||
| S Lanarkshire | - | 78,300 | |||
| 246,230 | 357,201 | ||||
| 5. | OTHERINCOME | ||||
| 31.3.22 | 31.3.21 | ||||
| £ | £ | ||||
| Profit on disposal offixed assets | 2,473 | - | |||
| 6. | CHARITABLE ACTIVITIES COSTS | ||||
| Support | |||||
| Direct Costs |
costs (see note 6) |
Totals | |||
| £ | £ | £ | |||
| Research and Development | 1,053,364 | 315,527 | 1,368,891 | ||
| 7. | SUPPORT COSTS | ||||
| Governance | |||||
| Management | costs | Totals | |||
| £ | £ | £ | |||
| ResearchandDevelopment | 296,432 | 19,095 | 315,527 |
Page 16
continued...
eo
Warren House Group At Dartington
- SUPPORT COSTS- continued
;
- STAFF COSTS
Notes to the Financial Statements - continued For The Year Ended 31 March 2022
Support costs, included in the above, are as follows:
----- Start of picture text -----
||||||||
|---|---|---|---|---|---|---|
|31.3.22|31.3.21|
|Research|
|and|Total|
|Development|activities|
|£|£|
|Wages|127,744|84,341|
|Pension|provision|5,274|(221,232)|
|Central|overheads|35,814|28,257|
|Recruitment|and|training|26,900|9,658|
|Telephone|2,802|381|
|Postage|and|stationery|782|925|
|Publicity|-|67|
|Sundries|1,851|276|
|Professional|fees|25,967|41,185|
|Subscriptions|&|membership|-|1,446|
|Equipment|15,925|2,782|
|Computer &|IT|§,839|7,492|
|Travel|20,585|719|
|Events|18,556|3,732|
|Depreciation|of tangible|assets|8,393|11,326|
|Auditors’|remuneration|6,270|6,270|
|Auditors’|remuneration|for|non|audit work|12,825|10,367|
|315,527|(12,008)|
|NET INCOME/(EXPENDITURE)|
|Net|income/(expenditure)|is|stated|after|charging/(crediting):|
|31.3.22|31.3.21|
|£|£|
|Auditors’|remuneration|6,270|6,270|
|Accounting|12,825|10,367|
|Depreciation|-|owned|assets|8,393|11,326|
|Surplus|on|disposal|of fixed|assets|(2,473)|-|
----- End of picture text -----
9 TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.
Trustees’ expenses
No trustees were reimbursed for expenses for the year 31 March 2022 nor forthe year ended 31 March 2021.
The following staff costs were paid during the year.
----- Start of picture text -----
||||||
|---|---|---|---|---|
|31.03.22|31.03.21|
|£|£|
|Wages|and|salaries|713,643|633,318|
|Social|security|52,503|64,415|
|Pension|costs|66,189|85,745|
|832,335|783,478|
----- End of picture text -----
Page 17
continued...
Warren House Group At Dartington
oo
Notes to the Financial Statements - continued For The Year Ended 31 March 2022
- STAFF COSTS - continued
The average monthly number of employees during the year was as follows:
| 31.3.22 | 31.3.21 | ||||
|---|---|---|---|---|---|
| 20 | 17 | ||||
| The number ofemployees whose employee benefits (excluding employer | pension | costs) exceeded | £60,000was: | ||
| 31.3.22 | 31.3.21 | ||||
| £60,001 - £70,000 | 1 | - | |||
| £70,001 - £80,000 | 1 | 1 | |||
| £80,001 - £90,000 | - | 1 | |||
| __2 | 2 | ||||
| 11. | TANGIBLE FIXED ASSETS | ||||
| The Group | Fixtures | ||||
| and | Computer | ||||
| fittings | equipment | Totals | |||
| £ | £ | £ | |||
| COST | |||||
| At1 April 2021 Additions Disposals |
5,263 - - |
77,569 36,946 (72,073) |
82,832 36,946 (72,073) |
||
| At 31 March2022 | 5,263 | 42,442 | 47,705 | ||
| DEPRECIATION | |||||
| At 1 April 2021 | 3,538 | 74,143 | 77,681 | ||
| Charge foryear | 1,052 | 7,341 | 8,393 | ||
| Eliminated on disposal | - | (70,166) | (70,166) | ||
| At 31 March 2022 | 4,590 | 11,318 | 15,908 | ||
| NET BOOK VALUE | |||||
| At 31 March 2022 | 673 | 31,124 | 31,797 | ||
| At 31 March 2021 | 1,725 | 3,426 | 5,151 | ||
| 12. | FIXEDASSET INVESTMENTS | ||||
| The Charity | Shares in | ||||
| group | |||||
| undertakings | |||||
| £ | |||||
| MARKET VALUE | |||||
| Additions | 1 | ||||
| NET BOOK VALUE | |||||
| At 31 March 2022 | 1 | ||||
| At31March2021 | 1 |
There were no investment assets outside the UK.
Page 18
continued...
.-
Warren House Group At Dartington
Notes to the Financtal Statements - continued For The Year Ended 31 March 2022
- DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| The Chari | ||||
|---|---|---|---|---|
| 31.03.22 | 31.03.21 | 31.03.22 | 31.03.21 | |
| £ | £ | £ | £ | |
| Trade debtors Other debtors |
537,087 - |
461,117 4,000 |
163,275 - |
121,212 18,147 |
| intercompany Loan | - | - | 376,693 | 319,129 |
| Prepayments and | 109,524 | 92,832 | - | - |
| accrued income | ||||
| 646,611 | 557,949 | 539,968 | 458,488 | |
| 14. CREDITORS: |
AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| The Group | The Charity | |||
| 31.03.22 | 31.03.21 | 31.03.22 | 31.03.21 | |
| £ | £ | £ | £ | |
| Trade creditors | 128,027 | 253,120 | 108,560 | 124 |
| VAT | 69,272 | 129,486 | 24,401 | 66,458 |
| Taxation and | 15,524 | 17,573 | 1,543 | 1,560 |
| social security | ||||
| Accruals and | 77,088 | 220,000 | - | 220,000 |
| deferred income | ||||
| Accrued | 59,295 | 13,975 | 104,190 | 8,105 |
| expenses | ||||
| 349,206 | 634,154 | 238,694 | 296,247 |
- LEASING AGREEMENTS
The Group
Minimum lease payments under non-cancellable operating leases fall due as follows:
| 31.3.22 | 31.3.21 | ||
|---|---|---|---|
| £ | £ | ||
| Within one year | 17,240 | 17,240 | |
| Between one and five years | - | 17,240 | |
| 17,240 | 34,480 | ||
| 16. | PROVISIONS FOR LIABILITIES | ||
| The Group | 31.3.22 | 31.3.21 | |
| £ | £ | ||
| Provisions | 47,403 | 42,129 |
The employment pension scheme will incur major changes in the coming years due to the scheme entering a deficit. There is a recovery period ending in 31 March 2038 and a provision of £47,403 has been included. This has been derived from an average of current employment pension at the new rates and a discount rate of 2.65% has been applied based upon information obtained from the pension scheme provider USS.
continued...
Page 19
Warren House Group At Dartington
‘+
Notes to the Financial Statements - continued For The Year Ended 31 March 2022
----- Start of picture text -----
||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|17.|MOVEMENT|IN|FUNDS|
|The Group|Net|Transfers|
|movement|between|At|
|At|1.4.21|in|funds|funds|31.3.22|
|£|£|£|£|
|Unrestricted|funds|
|General|fund|1,015,937|192,388|(224)|1,208,101|
|Fixed|asset|designated|fund|5,152|(2,014)|224|3,362|
|1,021,089|190,374|-|1,211,463|
|Restricted|funds|:|
|Big|Lottery|Fund|151,933|(151,933)|-|-|
|TOTAL FUNDS|1,173,022|38,441|-|1,211,463|
|Net|movement|in|funds,|included|in|the|above|are|as|follows:|
|Incoming|Resources|Movement|
|resources|expended|in funds|
|£|£|£|
|Unrestricted|funds|
|General|fund|1,184,960|(992,572)|192,388|
|Fixed|asset designated|fund|2,372|(4,386)|(2,014)|
|1,187,332|(996,958)|190,374|
|Restricted|funds|
|Big|Lottery|Fund|220,000|(371,933)|(151,933)|
|TOTAL FUNDS|1,407,332|(1,368,891)|38,441|
|Comparatives|for movement|in|funds|
|Net|Transfers|
|movement|between|At|
|At|1.4.20|in|funds|funds|31.3.21|
|£|£|£|£|
|Unrestricted|funds|
|General|fund|709,003|307,952|(1,018)|1,015,937|
|Fixed|asset|designated|fund|15,460|(11,326)|1,018|5,152|
|724,463|296,626|-|4,021,089|
|Restricted|funds|
|Big|Lottery|Fund|250,740|(98,807)|-|151,933|
|TOTAL FUNDS|975,203|197,819|-|1,173,022|
----- End of picture text -----
Page 20
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-f
- MOVEMENT IN FUNDS- continued
Warren House Group At Dartington
Notes to the Financial Statements - continued For The Year Ended 31 March 2022
Comparative net movement in funds, included in the above are as follows:
| Incoming resources |
Resources expended |
Movement in funds |
||
|---|---|---|---|---|
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 1,456,248 | (1,148,296) | 307,952 | |
| Fixed asset designated fund | - | (11,326) | (11,326) | |
| 1,456,248 | (1,159,622) | 296,626 | ||
| Restricted funds | ||||
| Big Lottery Fund | 193,580 | (292,387) | (98,807) | |
| TOTALFUNDS | 4,649,828 | (1,452,009) | 197,819 | |
| A current year 12 months and prioryear 12 months combined position is as follows: | ||||
| Net | Transfers | |||
| At 1.4.20 | movement infunds |
between funds |
At 31.3.22 |
|
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund Fixed assetdesignated fund |
709,003 15,460 |
500,340 (13,340) |
(1,242) 1,242 |
1,208,101 3,362 |
| Restricted funds | 724,463 | 487,000 | - | 1,211,463 |
| Big Lottery Fund | 250,740 | (250,740) | - | - |
| TOTAL FUNDS | 975,203 | 236,260 | - | 1,211,463 |
| A current year 12 months and prior year | 12 months combined net movement in | funds, included in the above are | ||
| as follows: | ||||
| The Group | Incoming | Resources | Movement | |
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 2,641,208 | (2,140,868) | 500,340 | |
| Fixed asset designated fund | 2,372 | (15,712) | (13,340) | |
| Restricted funds | 2,643,580 | (2,156,580) | 487,000 | |
| Big Lottery Fund | 413,580 | (664,320) | (250,740) | |
| TOTALFUNDS | 3,057,160 | (2,820,900) | 236,260 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
Unrestricted funds
The unrestricted funds consists of funds which the charity may use for its charitable purposes at its discretion.
Designated funds
The fixed asset fund represents the value of the charity's funds that are held in the form of tangible fixed assets net of any borrowings directly for the purpose of purchasing these fixed assets. They are held specifically to further the day to day activities of the charity and are expected to be held on a long term basis. As such they are therefore not freely available to spend.
Page 21
continued...
of
Warren House Group At Dartington
‘.
Notes to the Financial Statements - continued For The Year Ended 31 March 2022
17. MOVEMENT IN FUNDS- continued
Restricted funds
The Big Lottery Fund is restricted funds. These funds are to be used to address poor emotional! health and coercive relationships in Renfrewshire, by mapping the current system and identifying strategies to redirect resources to early action.
- EMPLOYEE BENEFIT OBLIGATIONS
The latest available complete actuarial valuation of the Retirement Income Builder is as at 31 March 2020 (the valuation date), and was caried out using the projected unit method.
Since the institution cannot identify its share of USS Retirement Income Builder (defined benefit) assets and liabilities, the following disclosures reflect those relevant for those assets and liabilities as a whole..
The 2020 valuation was the sixth valuation for the scheme under the scheme-specific funding regime introduced by the Pensions Act 2004, which requires schemes to have sufficient and appropriate assets to cover their technical provisions. At the valuation date, the value of the assets of the scheme was £66.5 billion and the value of the scheme's technical provisions was £80.6 billion indicating a shortfall of £14.1 billion and a funding ratio of The83%.key financial assumptions used in the 2020 valuation; are described below. More detail is set out in the Statement of Funding Principles (uss.co.uk/about-us/valuation-and-funding/statement-of-funding-principles).
Term dependent rates in line with the difference between the Fixed CPI assumption Interest and Index Linked yleld curves less: 1.1% p.a. to 2030, reducing IInearly by 0.1% p.a. to a long-term difference of 0.1% p.a. from 2040 Pension increases (subject to a floor of 0%) CPI assumption plus 0.05% Discount rate (forward rates) Fixed interest gilt yield curve plus: Pre-retirement: 2.75% p.a. Post retirement: 1.00% p.a.
The main demographic assumption used relates to the mortality assumptions. These assumptions are based on analysis of the scheme’s experience camied out as part of the 2020 actuarial valuation. The mortality assumptions used in these figures are as follows:
2020 valuation Mortality base table 101% of S2PMA "light" for males and 95% of S3PFA for females Future improvements to mortality CMI 2019 with a smoothing parameter of 7.5, an initial addition of 0.5% p.a. and a long-term Improvement rate of 1.8% pa for males and 1.6% pa for females
Mortality base table
The current life expectancies on retirement at age 65 are:
----- Start of picture text -----
|||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|2022|valuation|2021|valuation|
|Males|currently|aged|65|(years)|23.9|24.7|
|Femates|currently aged|65|(years)|25.5|26.1|
|Males|currently|aged|45|(years)|25.9|26.7|
|Females|currently|aged|45|(years)|27.3|27.9|
|A|new|deficit|recovery|plan|was|put|in|place|as|part|of|the|2020|valuation,|which|requires|payment|of|6.2%|of|
|salaries|over|the|period|1|April|2022|unti!|31|March|2024,|at|which|point|the|rate|will|increase|to|6.3%.|The|2022|
|deficit|recovery|liability|reflects|this|plan.|The|liability|figures|have|been|produced|using|the|following|
|assumptions:as|at|31|March|2021|and|2022..|
|2022|2021|
|Discount|rate|2.65%|1.05%|
|Pensionable|salary|growth|ra|n/a|
|Pension|increases|(CPI)|2.53%|7.45%|
----- End of picture text -----
The charity's employer contributions to the scheme during the year was £32,213 (2021: £67,385).
Page 22
"
Warren House Group At Dartington
Notes to the Financial Statements - continued For The Year Ended 31 March 2022
18. EMPLOYEE BENEFIT OBLIGATIONS - continued
The charity has accounted for the present value of all remaining contributions to the deficit recover plan in these accounts at their present value of £47,403 based upon the information available from the scheme administrator. This liability will be adjusted annually to unwind the relevant discount applied
----- Start of picture text -----
|||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|19.|RECONCILIATION|OF|NET|INCOME|TO|NET|CASH|FLOW|FROM|OPERATING|ACTIVITIES|
|31.3.22|31.3.21|
|£|£|
|Net|income|for the|reporting|period|(as|per the|Statement|of|Financial|
|Activities)|38,441|197,819|
|Adjustments|for:|
|Depreciation|charges|8,395|11,326|
|Profit|on|disposal|of fixed|assets|(2,473)|-|
|Interest|received|(1,461)|(2,965)|
|(Decrease)/ increase|in|provisions|§,274|(221,232)|
|(Increase)/decrease|in|debtors|(74,515)|(107,245)|
|(Decrease)/increase|in|creditors|(299,095)|208,465|
|Net cash|(used|In)/provided|by operations|(325,434)|86,168|
----- End of picture text -----
20.
----- Start of picture text -----
|||||||
|---|---|---|---|---|---|
|ANALYSIS|OF|CHANGES|IN|NET|FUNDS|
|At|1.4.21|Cash|flow|At|31.3.22|
|£|£|£|
|Net|cash|
|Cash|at|bank|1,286,205|(356,541)|929,664|
|Total|1,286,205|(356,541)|929,664|
----- End of picture text -----
_ Page 23
Warren House Group At Dartington
“
.
Notes to the Financial Statements - continued For The Year Ended 31 March 2022
21. INDIVIDUAL STATEMENT OF FINANCIAL ACTIVITIES The Charity
| The Charity | |||||
|---|---|---|---|---|---|
| 31.3.22 | 31.3.21 | ||||
| Unrestricted | Restricted | Total | Total | ||
| funds | funds | funds | funds | ||
| Notes | £ | £ | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||||
| Donations and legacies | 2 | 199,762 | - | 199,762 | 20,102 |
| Charitable activities | 4 | ||||
| Research and Development | 296,190 | 220,000 | 516,190 | 672,969 | |
| Investment income | 3 | 5,414 | - | 5,414 | 2,965 |
| Other income | 206,822 | - | 206,822 | 114,911 | |
| Total | 708,188 | 220,000 | 928,188 | 810,947 | |
| EXPENDITURE ON | |||||
| Charitable activities | 5 | ||||
| Research and Development | 572,092 | 371,933 | 944,025 | 796,307 | |
| NET INCOME/(EXPENDITURE) | 136,096 | (151,933) | (15,837) | 14,640 | |
| RECONCILIATION OF FUNDS | |||||
| Total funds broughtforward | 837,910 | 151,933 | 989,843 | 975,203 | |
| TOTALFUNDSCARRIEDFORWARD | 974,006 | - | 974,006 | 989,843 |
Page 24
a
Warren House Group At Dartington
Notes to the Financial Statements - continued For The Year Ended 31 March 2022
22. GROUP STATEMENT OF FINANCIAL POSITION The Group
----- Start of picture text -----
|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|31.3.22|31.3.21|
|Unrestricted|Restricted|Total|Total|
|funds|funds|funds|funds|
|Notes|£|£|£|£|
|FIXED|ASSETS|
|Tangible|assets|10|31,797|-|31,797|5,515|
|31,797|-|31,797|5,515|
|CURRENT ASSETS|
|Debtors|12|646,611|-|646,611|557,949|
|Cash|at|bank|929,664|-|929,664|1,286,205|
|1,576,275|-|1,576,275|1,844,154|
|CREDITORS|
|Amounts|falling|due|within|one year|14|(349,206)|-|(349,206)|(634,154)|
|NET CURRENT|ASSETS|1,227,069|-|1,227,069|1,210,000|
|TOTAL ASSETS|LESS|CURRENT|LIABILITIES|1,258,866|-|1,258,866|1,215,151|
|PROVISIONS|FOR|LIABILITIES|16|(47,403)|-|(47,403)|(42,129)|
|NET ASSETS|1,211,463|-|1,211,463|1,173,022|
|FUNDS|17|
|Unrestricted|funds|1,211,463|1,021,089|
|Restricted|funds|-|151,933|
|TOTAL FUNDS|1,211,463|1,173,022|
----- End of picture text -----
Page 25
Warren House Group At Dartington
Notes to the Financial Statements - contlnued For The Year Ended 31 March 2022
23.
SUBSIDIARY TRADING ACTIVITIES
The charity owns 100% of the company, Dartington Service Design Lab Limited 12613600 whose registered office is Lower Ground Floor, Higher Mills, Buckfast Abbey, Buckfastleigh, Devon, TQ11 OEE which operates a number of commercial ventures on behalf of the charity. The subsidiary donates its taxable profits to the charity each year by gift aid. Dartington Service Design Lab Limited is included in these consolidated accounts. Its trading results for the year extracted from the financial statements are summarised below:
| 31.03.22 | 31.03.21 | ||
|---|---|---|---|
| £ | £ | ||
| Tumover | 1,522,827 | 1,046,345 | |
| Administration | (1,285,370) | (863,166) | |
| Operating profit | 237,457 | 183,179 | |
| Net profit before taxation | 237,457 | 183,179 | |
| Donation to parent charity | (183,179) | - | |
| Retained loss/profit | 54,278 | 183,179 | |
| 24. | ASSETS AND LIABILITIES OF THE SUBSIDIARY | ||
| 31.03.22 | 31.03.21 | ||
| £ | £ | ||
| Fixed assets | |||
| Tangible assets | 28,435 | - | |
| Current assets | |||
| Debtors | 620,754 | 432,737 | |
| Cash at bank | 212,891 | 421,627 | |
| 833,645 | 854,364 | ||
| Creditors falling duewithin one year | |||
| Trade creditors | 77,654 | 269,011 | |
| Amounts owed to group undertakings | 376,693 | 319,129 | |
| Taxation and social security Othercreditors |
44,871 125,404 |
63,028 20,016 |
|
| 624,622 | 671,184 | ||
| Netassots | 237,458 | 183,180 | |
| Represented by: | |||
| Called up share capital Retained earnings |
1 237,457 |
1 183,179 |
|
| CapitalandReserves | 237,458 | 183,180 |
Page 26