2021-03-31-accounts

Chairman's	report
Trustees'	annual report		2-9
Auditors'	report		10-12
Statement	offinancial	activities	13
Balance sheet			14
Statement	ofcashflows		15-16
Notes to the financial statements			17-29

Castel Froma Neuro	Castel Froma Neuro	Castel Froma Neuro	Care	Limited:-
Registered	charity number				1100965
Registered	company		number		04777559
Country of	incorporation				England
Royal Midland		Counties		Home for the
Disabled registered			charity number
(Linked charity)					1100965-1
Registered	office				93 Lillington Road
					Leamington Spa
					Warwickshire
					CV32 6LL
Auditors					Harrison Beale R Owen		Limited
					Chartered Accountants		and Statutory Auditor
					Highdown House,
					11Highdown	Road
					Leamington Spa
					CV31 1XT
Bankers					Lloyds Bank
					73The Parade
					Leamington Spa
					CV32 4BB
Solicitors					Wright Hassall	LLP
					Olympus Avenue
					Leamington Spa
					CV34 6BF
					Harrison Clark	Rickerbys	Limited
					Ellenborough	House
					Wellington Street
					Cheltenham
					Gloucestershire
					GL50 1YD

			Unrestricted	Restricted	and	Total	Total
			Funds	Endowment		2021	2020
				Funds
					E
Income and endowments	from:
Donations and legacies		2	229,067			229,067	69,898
Charitable activities
Operation ofcare centres:
Residential fees			7,050,647			7,050,647	7,659,539
Hydrotherapy			23,258			23,258	23,325
Government grants			347,539			347,539
Investments		3	173,669			173,669	171,303
Other		2	25,226			25,226	24,460
Total income and endowments		2	7,849,406			7,849,406	7,948,525
Expenditure on:
Raising funds		4	67,144			67,144	58,389
Charitable activities:
Operation ofcare centres		9	8,480,505			8,480,505	7,869,524
Total expenditure			8,547,649			8,547,649	7,927,913
Net (expenditure)/ income		7	(698,243)			(698,243)	20,612
Transfers between funds		19
Other recognised gains/ (losses):
Other gains/ (losses)		6	430,784			430,784	(6,100)
Net movement in funds			(267,459)			(267,459)	14,512
Reconciliation offunds
Total fund balances brought	forward
at 1April 2020		19	7,419,340	4,325,033		11,744,373	11,729,861
Total fund balances carried	forward
at 31March 2021			7~11~3,	4325 D33		11476 914	11744 373

					2021	2020
					f	f
				Note
Fixed assets
Tangible assets				10	8,067,914	8,828,644
Investments				11	3,014,784	2,387,642
					11,082,698	11,216,286
Current assets
Stock				12	177,397	71,716
Debtors				13	309,344	883,230
Cash at bank and in		hand			1,150,664	670,410
					1,637,405	1,625,356
Creditors: amounts		falling due within one year		14	(645,867)	(785,928)
Net current	assets				991,538	839,428
Total assets	less current		liabilities		12,074,236	12,055,714
Creditors: amounts		falling due in more than one		15	(597,322)	(311,341)
year
Net assets					11,476,914	11,744,373
Unrestricted	funds
General funds
General				19	3,260,186	3,194,611
Fair value reserve				19	700,000	300,000
Total General funds					3,960,186	3,494,611
Designated	funds			19	3,191,695	3,924,729
					7,151,881	7,419,340
Restricted funds				19	75,033	?5,033
Endowment	fund			19	4,250,000	4,250,000
(held by Castei Froma		Neuro Care Ltd as atrustee of RMCHD)
					11,476,914	11,744,373

						2021	2020
						f	f
				Note
Cash provided by operating		activities				689,256	201,344
Cash flows from investing	activities
Payments to acquire tangible		fixed assets				(139,416)	(464,809)
Payments to acquire fixed	asset		investments			(219,968)
Receipts from disposal of	fixed asset investments					30,300
Interest received						1,569	3,608
Rents received from investment			properties			172,100	167,695
Cash used in investing activities						(155,415)	(293,506)
Cash flows from financing	activities
Repayment of long term loans						(27,696)	(25,464)
Interest paid						(19,201)	(28,445)
Cash used in financing activities						(46,897)	(53,909)
Increase/ (Decrease) in cash		and				486,944	(146,071)
cash equivalents
Cash and cash equivalents	at	1April				676,014	822,085
Cash and cash equivalents	at	31	March			1,162,958	676,014
Cash and cash equivalents	consists of:
Cash at bank and in hand						1,150,664	670,410
Listed investments cash						12,294	5,604
Cash and cash equivalents	at	31March				1,162,958	676,014
Analysis ofchanges in net	funds
				At 1			At 31
				April	Cash	Non-cash	March
				2020	flows	changes	2021
				f	f	f	f
Long term loans				(311,341)		(285,981)	(597,322)
Short term loans				(342,574)	27,696	285,981	(28,897)
Total liabilities				(653,915)	27,696		(626,219)
Cash and cash equivalents				676,014	486,944		1,162,958
Total net funds				22,099	514,640		536,739

					2021	2020
					E	f
Net movement in	funds				(267,459)	14,512
Rents received from		investment		properties	(172,100)	(167,695)
Interest receivable					(1,569)	(3,608)
Interest payable					19,201	28,445
Depreciation and	impairment		of	tangible fixed assets	900,146	464,512
(Gains)/ losses on	investments				(430,784)	6,100
Increase in stock					(105,681)	(12,500)
Decrease/ (Increase)		in debtors			573,886	(88,278)
Increase/ (decrease)		in creditors			173,616	(40,144)
Net cash provided	by operating			activities	689,256	201,344

Expenditure on raising	funds
												2021					2020
												f					f
Professional fees for direct fundraising				costs								30,287					12,250
Professional fees for investing		activities										5,187					5,227
Property management	fees and		repairs									12,469					12,505
Bank loan interest												19,201					28,407
												67,144					58,389
Ofthe expenditure on	raising	funds above,				only f30,287 (2020:f12,250) related				directly to			donations			and legacy
income in the financial	statements. Other				expenditure is associated			with professional				and property			management
fees in respect of fixed asset		investments				and investment	property;	and the cost			of servicing			secured			loans as
disclosed in note 15.
All expenditure on raising funds			in the current and prior year				was attributable		to	unrestricted			funds.
Staff costs, trustee remuneration			and expenses and the cost ofkey
management personnel
												2021					2020
												f					f
Wages and salaries										5,085,850					5,293,094
Social security costs											372,109					382,953
Pensions											104,923						98,642
										5,562,882					5,774,689
Wages and salaries include agency staff costs totalling f264,							104 (2020:f552,509),
The trustees neither received		nor waived			any remuneration		during the year		(2020		fNil). No trustee					(2020:One)
was reimbursed travel expenses			during	the year (2020:f436).
The number ofstaff whose emoluments				fell		within the following						No.				No
bands was as follows:—
f60,001tof70,000												2					3
f70,001tof80,000												2					1
f90,001tof100,000																	1
f110,001to f120,000												1

equivalent employees (including part time staff) d	uring the year was:
	2021	2020
	No.	No.
Management	5	6
Administration	7	8
Nursing	34	35
Ancillary care	84	93
Therapy	20	21
Housekeeping	15	15
Services	4	5
	169	183

2021	2020
f	f
277,343	242,253

					2021	2020
					f	f
Net (expenditure)/		income is stated after charging/		(crediting):—
Other operating leases					41,017	36,267
Depreciation	—owned		assets		389,726	464,512
Impairment	loss —owned assets				510,420
Government	grants	—CJRS			(18,543)
Government	grants	—Other			(328,996)
Income from	operating		lease arrangements		(172,100)	(167,695)
Auditors' remuneration					8,000	8,000
Interest payable
					2021	2020
					f	f
Bank loan Interest					19,201	28,407

					Operation
					of Care		Total	Total
					centres	Therapies	2021	2020
					f		f	f
Staff					4,050,256	607,358	4,657,614	4,868,624
Rent gi rates					25,741	3,510	29,251	31,391
Light, heat 5 power					123,462	16,836	140,298	138,578
Supplies (medical, catering 5cleaning)					387,380	52,825	440,205	510,741
Repairs gi maintenance					192,604	26,264	218,868	227,931
Training					19,956	2,721	22,677	50,059
Subscriptions					44,458	6,063	50,521	55,429
Motor &travelling		expenses			9,178	1,251	10,429	16,593
Insurance					72,140	9,837	81,977	74,714
Bank charges	5 interest				1,606		1,606	2,181
Depreciation					350,753	38,973	389,726	464,512
Impairment					510,420		510,420
General expenses					77,182	10,525	87,707	120,479
Covid-19 expenses					506,564	69,078	575,642	23,267
					6,371,700	845,241	7,216,941	6,584,499
					Operation
Allocation ofsupport			and governance	costs	ofCare
to activities					centres		Total	Total
							2021	2020
					f		f	f
Wages and salaries		8	related costs		843,620		843,620	847,785
(allocated on	time)
General					130,180		130,180	161,891
(pro rata to staff full time equivalent)
Lega I and other professional fees					136,411		136,411	143,140
Support costs					1,110,211		1,110,211	1,152,816
Governance	costs				153,353		153,353	132,209
(allocated on	time)
Direct costs							7,216,941	6,584,499
Total costs relating		to	the operation of	the care centres			8,480,505	7,869,524
Governance	costs comprise the following:-
							2021	2020
							f	f
Staff costs							61,648	58,280
Legal and professional			fees				91,705	73,929
							153,353	132,209

	FOR THE YEAR ENDE	D 31MARCH	2021
Tangible fixed assets	Freehold		Fixtures
	land &	IVlotor	fittings &
	buildings	Vehicles	equipment	Total
Cost or valuation	f	f	f	f
At 1April 2020	7,516,916	158,116	4,200,780	11,875,812
Additions	49,263		90,153	139,416
At 31March 2021	7,566,179	158,116	4,290,933	12,015,228
Depreciation
At 1April 2020		105,273	2,941,895	3,047,168
Charge for the period		13,213	376,513	389,726
Impairment	510,420			510,420
At 31March 2021	510,420	118,486	3,318,408	3,947,314
Net book value
At 31March 2021	7,055,759	39,630	972,525	8,067,914
At 31March 2020	7,516,916	52,843	1,258,885	8,828,644

they would have been included at a h	istorical cost of	f4,493,388.
Investments
		2020	2020
Listed Investments		f
Market value at 1April 2020		382,038	388,138
Additions		219,968
Disposals		(26,286)
Unrealised gains/ (losses)		26,770	(6,100)
Market value at 31March 2021		602,490	382,038
Historical cost at 31March 2021		581,566	387,884
Listed investments are represented	by:
Equity shares and fixed interest securities		602,490	382,038
Cash		12,294	5,604
As at 31March 2021		614,784	387,642
Investment property		2021	2020
Valuation		f	f
Balance at 1April 2020		2,000,000	2,000,000
Unrealised gain		400,000
Balance at 31March 2021		2,400,000	2,000,000
Tota I investments		3,014,784	2,387,642

Stock
			2021	2020
			f
Domestic supplies		and consumables	177,397	71,716
Debtors
			2021	2020
			f	f
Trade debtors			114,017	671,349
Other debtors			850	850
Prepayments	and	accrued income	194,477	211,031
			309,344	883,230

			2021	2020
			f	f
Bank loans and	overdraft		28,897	342,574
Trade creditors			242,031	215,871
Accruals and deferred		income	244,066	92,369
Other taxation	and social security		100,228	98,794
Other creditors			30,645	36,320
			645,867	785,928

Creditors: amounts falling due in more than	one year
	2021	2020
	E	E
Bankloans	597,322	311,341
	597,322	311,341

				2021	2020
Creditors:	amounts	falling due in more than one year (continued)		f	f
Loans
An analysis ofthe		maturity	ofloans is given below:
Amounts	falling due within one year or on demand:
Bank loans				28,897	342,574
				28,897	342,574
Amounts	falling due between		one and two years:
Bankloans				28,897	13,965
				28,897	13,965
Amounts	falling due between		two and five years:
Bank loans				86,691	41,896
				86,691	41,896
Amounts	falling due after five years:
Bank loans				481,734	255,480
				481,734	255,480
				626,219	653,915

follows:
			2021	2020
			f	f
Expiry date:
Within 1year			24,531	25,972
Between 1and 5years			6,442	30,973
			30,973	56,945
At 31 March 2021 the charity	had minimum	lease receipts due under	non-cancellable operating	leases
follows:
			2021	2020
			f	f
Expiry date:
Within 1year			137,000	137,000
Between 1and 5years			68,500	205,500
			205,500	342,500

scheme providers tota	scheme providers tota	scheme providers tota	scheme providers tota	lling	f18,212(2020	:f17,998).
19 Analysis ofcharitable				funds
					At 1				At 31
					April	Income	Expenditure	Transfers	March
					2020 f	and gains f	and losses f	f	2021 f
Analysis ofmovements			in
unrestricted funds:
General reserve
General					3,194,611	7,880,190	(7,647,503)	(167,112)	3,260,186
Fair value reserve					300,000	400,000			700,000
Total General reserve					3,494,611	8,280,190	(7,647,503)	(167,112)	3,960,186
Designated reserve
Fixed asset fund					3,924,729		(900,146)	167,112	3,191,695
Unrestricted funds					7,419,340	8,280,190	(8,547,649)		7,151,881
Analysis ofmovements			in
restricted funds:
Restricted revenue	funds
Nurses' social committee			fund		3,274				3,274
Helen Ley physio equipment					4,241				4,241
New build professional		fees			13,670				13,670
Software fund					1,543				1,543
Leisure and sporting	activities				1,972				1,972
Other					4,808				4,808
					29,508				29,508
Restricted capital funds
New build fund					25				25
New en-suite room					45,500				45,500
					75,033				75,033
Endowment fund (RMCHD)					4,250,000				4,250,000
Total funds					11,744,373	8,280,190	(8,547,649)		11,476,914

		Tangible		Net	Long
		fixed		current	term
		assets	Investments	assets	creditors	Total
		E	f	f	f	f
Unrestricted	funds
General reserve			3,014,784	945,402		3,960,186
Designated	reserve	3,817,914		(28,897)	(597,322)	3,191,695
Restricted funds				75,033		75,033
Endowment	fund	4,250,000				4,250,000
		8,067,914	3,014,784	991,538	(597,322)	11,476,914