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##
|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|
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|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|||
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||||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|
##
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|||||||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|
##
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##
||||||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|
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|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|
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|2021|2020|
|---|---|
|f|f|
|277,343|242,253|
##
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||||||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|
##
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##
|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|
##
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|||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|