R•ght¢red number: 04906985 ChaFity nwnber: 11016Z6 STYLE ACRE TRUSTEES. REPORT AND CONSOUDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 IAARCH 2021 '*14GLLI)604 0511112021 COMPANIES HrSE
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STYLE ACRE Page ReferEnre and 4dmlnlstrat1 d•tsils oftt* ¢lwdy, Its Trttsl and •d¥isor& 3-11 •p•nd•nt aud1$ rnwt ¢Jn th• staleme Consolldated ststement ol ffn•nGlal •cllville# 12-15 16 Con$olld•ted b•knce sheet 17 Charity bal•nc• sk••t Consolidat•d $tat•m•rtt of 11 18 19 Ilot•s lo lh• Ilnxol SW•m•nts 20-44
STYLE ACRE REFERENCE ANO ADMINISTRATIVE DETAILS OF THE CHARfrY, TRUSTEES AND AOVIS£RS FOR THE YEAR ENDED 31 IAARCH 2021 Trust•8S MIA R Vernon MrsSANye Mr R Thomlm (reggned 23 Septernber 20211 Mr5 P A Chalrners (resigr 23 Septernt 2021} Mr I C 8oukon Mr K Tibbs Mr P Tovmsend The Tw5tees retiring ty rotatton at the next hmnual Genernl Meeting in accordartt ¥ilh Ihe Art1¢$ of Associatian are Mr K Ttbs and Mr P Ttr4mgend. TAtho beir#J b]e offw Ihemselves for re-ele¢lion. Company r•glsternd numbèr 04908985 Charity giste1d numb•r 1101626 Registered offlce 1 Lor¥lon SIet Reading BeShIre RG14PN ompany secrel•ry Mr5 E S Vder$fee Execullve m4Mgemont and a(fvke Chrislophef Inm, cthf Exe¢vbve Ben Lanes, Operats"on5 DIOr. left emthmertt 19 Fetsu¥y 2021 Sarnh Stuart, Finan¢e "[e¢l¢# Followin9 thè yt¥end Rebe¢¢a SpevJhl was appoinied 35 Operions ts'reciorith empknymMt be9nning on 19 AprA 2021. Th• twuslees have dde9aled day lo day ofihe dwrty to the execulive directcffs, and take advice from them conewring Ihe managemerrt charity. The exepJb"¥e direGlor5 not threctry5 ol the company for slatutory wrpOs. Indepand•nt authtor Jame5 Cobbper K510n Chartered A¢¢ovniants and Sfabjtwy Alrt Readirg Bridge H¢*Jse Georg? Stre ReadiNJ 8erk5hi RG18LS Page 1
STYLE ACRE REFERENCE ANO ADMIIISTRATIVE OETAILS OF THE CHARITY, Irs TrUSTEES AND ADVISERS (CONTIMUEOI FOR THE YEAR ENDED 31 MARCH X121 Banllws Nalional Wes1rninst•r 8wbk Pk POBOX 13 30 Market pface Ne%%tury 8efk5hire RG14 5 50liclt F1 Seymow P•thes 1 London Stre•t Readin9 8erkshiie RG1 4PN Imieslrnent Adv5sers Sarasin & Partner5 LLP Juxon House 100 Sl Pauf5 Chwchyard Landon EC4M OBU Page 2
STYLE ACRE TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2021 The Trustees pre5enl their Report together the auded finarKlal statemerts of Style Acre for the year 1 April 20ZO to 31 Mwth 2021. The Annual Rewt seNes Ihe purFA15e5 of boih a Tfuslees, report 3nd a directors. report under company l&¥. The Trnstees confffii that the Report and ¢onsdidated finan¢ial statements ol the charitable conwany cornrAy K4ilh the cmnt 51alutory requirements, the requiremenis of the charitable company's go¥eming docurnent provi5iW5 of the Slalement of Recommended Pftctire ISORPI aFpficable 10 thafti.es Pfep•riTrJ Ihe4r accounts in ac¢tydan¢e wth the Financial Repo.0> Standard applible in the UK Republic of Ireland IFRS1021 (effective 1 Jawwy 20191. 08JE¢TIVES AND A¢TivmEs Ch•rit•ble Obiectlves The chari5 object5 are.. 1. The reliefol per50nS With learnww 0SffiulbeslthsaWIty by s mèar(4 as the Intstees see fit includiftg bul not Imiled lo Ihe following.. al the provision ol ¥d assistance lo such persons their ¢x¥n 1Me$ or in shettered ¢w other accommodation, In partthL¥ bul nol exC$ety Ihose are %ck. convalescent. disa1ed, handtcapped or infffm.. bl the pmwsh1n ol financial asslslante to sh pets$ arein dillOnS 01 fwwicral need. hardship dlstress- c) the support of such per$S by emptrwiny to me ¢htyces in Ihey stye of li¥in9 arKI to a¢¢e$s fxth'lies in the ¢rtrNty. 2. Th¢ adwan¢¢ment of pub&¢ edu¢athon by". a) raising pu1¢ avrareness and LThJer5tanthng of leaming difficullre51di5ability." b) yomoling and suppcrfing feseaf¢h knto the ¢auses ol leaming <4fftLdb"edI$"ty. Iheir needs and I Chadtsblè Actlvlti•# Se Acre supports apwox. 250 adulls with leaming dsabililie5 aub5m aGr055 Oxfryd5hYe. The need5 Ofihe people we suppart range from those requimg 24-hour rare to th05r vtho h¥e more indepEndendy and need a lew hours ol support perwte At Maith 2D21. 114 people are supported by Si>k Arre's SIptsd f7[¥j cate leams in 35 hou5ehold5. in addition 20 peOe wefe supporttd in the cornnwnty. Swrted IKwseholds and Community 5UPl>Yt le$ give people the independence to Ilve th their peers in a safe. ¢omfortable en¥wmertl People can also access day qJportunltTes. Approximaldy 97% 01 wr hwsehokls have 24-h ¢are. Style Acre yowdes day opportunities for 154 peoFle at three community hubs in Wallingford. Didcol and 8anbury, as well as in th• community in Than7e and auo$s Oxfordshire. Peopl& ¢arn also parb"ipale in a¢b"wtie$ at a comml gaiden space li Wanlage and 9an rk placements Ihrough our Work Programme. People attend day opportunitses to Jeam new skils. sodal"se. develop indèpendence and ConfidEre and to 9Pt involved in ihe aclbvilies of thr chthce at hubs or fft Ihèir local area Our Work Programme help5 people acce55 paid and ¥tsry placement5 n Ial organisatHXls and in our 04bTb s11 enterpii5e5. The enterp¥5 comprise ot the Sty Acre Tea Roorn in Blewbvry. the Style Acre Charity shop in W?Ilingford. the Lrtlle Book Shop in Ban and Green Acre, ovr garden mainlenance busines& STRATEGIC REPORT Achievement and perfoFmanc• upeIk19 vIeW CovKI.19 has had a huge impxt on every asixd of chanty in lh8 past year. Style Acre's emptyees ha¥e shown creab'ihty and flexibibty in re-in¥enting our seNc¢ delivery $0 that people could ntire lo safety access the vltal supwl they needed in diffKult aicumslartts Page 3
STYLE ACRE
TRUSTEES. REPORT ICOPITINUEOI
FOR THE YEAR ENDED 31 MARCH 2021
STRATEGIC REPORT
Achl•¥•men¢ and yrformance
Operatry Trvlew fconlmwedj
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sriLE ACRE TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 STRATEGIC REPORT Achiev•rnent and prform•nc• Operniing VIeW fconlifiuedj Our Garden Prq'eci has fvdkd interesl in gardenry across the chority and ganIing berame even more important lo people in the lasl year. paItiCY Ihrw lo¢kdo¥ms. people eryoy 9ardening as a therapeutic h¢ybby arll it has helped Gakn anXty and improve overall mental health throughout challen9ing thnes. Gardening se5sion5 al Wanlage Market Gardtn re paused sevtral tYne5 during the yw but staff and ¥olunleer5 cdle¢tefl deh'¥ered pnIS from the gwden so penple coukl Gtsminue gatning the menlal and phy5irAI healh benefi15 of gardevmng at home. People offered horntrba gardening actitr"e$. support Vith gardening ide35 and Offe advice remotely lo hdp them gafden at home and lo encoufage grtiwng your ovm prcéu¢e lar healthy eating. 1-2-1 and small grtyjp 5esons have re51arted al our Wanta9e Market Gardèn and people ¥ery pleased lo be back. We have raised funds duiing the yew tts expand ¢)ur Ways lo Wellness pro3rnme vthKh enables Ihè people we Support, our emoYeeS and votun¢eer5 Iv irnprove Ir health and wdtbelng. Peopk have tsken part in challenge Èvents and are supported lo undertakè daly exetcise so they can keep moli¥•ted and commit to goals to increase their acti¥ity levels. CwalL cookin9 and gardening ojmpetilions 3nd monthty therned acty.vity packs have helped everyonè to stay as posthe as p055ibfe by ha¥in9 Ihry$ fun lh.ngs to rnak2 and do. In May 2021. we received a grarit lor a Ways to Welness CoNdinalor rde wtiich 11 alow more people lo be encouraged and inspired lo improve their ffler1 and physical tHbing In 2021. somets9 that 15 so Important in the wake of Covid-19. Our Speech aThJ Language Therapist %lked rernotdy 1hroUOUl the pandemic to ensure support for people's eommuni¢ation need5 coiilirMd. SUFWI wa5 ¢cluded ¢hat Yerever p055th>le and ¢omm4Jnicalran tfairring for staff wa5 a150 moved othe. All1U9 have twniied, th2 pandemic has shovm thal v need to less I"an1 on fate-lfrfacE meeb"ng5 and allobbE41 u5 n SOMÈ Ca5 10 berttrr support pecple v•th iheir coThffiunicalKJn needs. We have imfested in IT during ihe year io laulrtaie homè working and all¢w our employee$ to woik more ftexibly. We have also ensured that all of our Suppled lin9 hseIdS have en able lo mMuniCate vwtual and acces$ svFwt and acb'vilies tythne. SIWe Aere ha5 been unable lo deliver face face coffjwwnity ftlrSIllg v4enls Ihls year vthich 15 8 important 50uffe ol ¥olLmtary incorne. W qickty adapted to a new lal and have been atrAe to run succes5fv1 online evenls such •s our My Marathon My Way Chalenge. an online doy sh(sw. an art auclion and a balloon racè. We ran the Style Santa Dash ag01 tFw5 year. partryants Nnning thelr own route Over week in Oecembef. These events have been enjoyed by the people we suppm. en4)loyees. lamikes and people in ¢he community and gven many a focus and challenge Ihrough festn'cb"ons la¢ed. Additionalty. joined in with Ihe Big Give Christmas challenge for the first time ran a 5uccesslul Easter fundraising appeal. We are extremely grateful io the Charitable Tw515. cornmuryly gloups and the Nationl Lottery Community FLmd have sUPPOrted us vAth grants for core services ond projects ¢0 help us meet peop4e's needs durin9 the pandèm. This has been txcepbNlly important Io u5 in a ch&leNJin9 and Lthcertain hjndrnising enwronmenl. WÈ are a150 grateful lo our 47 vdurrteews have suppryted social er[l$E5. Wantage Markel Garden and ¢0mmlty hub5 efi restriclrons h3¥e al9, both tradth.vnal roles bLrt alsoTr new fole$ $IDn9 from the pandemic. Thank5 go to new voluntee who have Joined dunng this time and delivered shopping. mea15 and prescripts.S to people in Iheif home5, and to Ihose vcknler5 ¥tho have become online buddies for people we support. A number ol ¥(UnteerS have olso aSSiSled us 9rapts'c design projects. admini51ration and social meia. Although th• pandernic has been exCe41Y chaltthging. one positive aspect has been an increased inlerest joirwng Style Acre, thther as a voknteer ty as a rnemr o15taff. We have seen a tig Mi¢rease in staff recruilmenl into Supwrt W¢xker rotes thrJghOut the year. Thi5 has both improved Ihe qualty ol support we are offpmg and re5u5ted in st9rMficanl cost savings. We conb.nue to encourage Ily• sthff tumow thwh a locus on career dèwehpmenl i¢h our in.bouse Leadership Devebpment Pr(3ramm¢. Ths year 14 Svpport Workers from across Style Acre able io develap Iheir leadewship skims ar*d progress lo th• spOrt C("natOr ty A$5iStanl Managw le¥d. 69% of our ¢urr•ni Support lAagerS h•¥e pre¥itiusly conyleted our Ltadusl¥p De¥•iowneTht Pio9rnmme. Page S
STYLE ACRE TRLISTEES. REPORT {CONTINUEO} FOR THE YEAR ENDED 31 MARCH 2021 STRATEGIC REPORT A¢hievement and performance Opernling rww {Gonlmued) In 2020-2021 w¢ FJi5ed lunds for Menlal Health Fwst Awj tranmw, an Wnportt step in irnwoYÈry menlal heatth for Ihe people we support and ensurry 51aff are given Ihe best training when supporbn9 people colleagues ilh Iheir mental health. Awareness of menlal health ¢j[lenge$ for Staff ha5 becoffje moTe essenbal th•n ever Ihis year and Way5 to Wdkne55 Programme encougeS staff to tske part •ciNilie5 e¥enls thal 711 help their owm mert4 welbein9 a5 weU as that ofthe peo they SUPP O¥tr Ihe pasl yeaf. Sls4e ha5 ¢ted expand ow suFy(Kt offering ihe pandemio Chjr commLmity Support sermu have ¢rrJEas¢d the rtumber ofpeople Ihey suwrt and three additional seNice5 have opened duiing the year. The redevdopment of a wopety in Wantsga was Gompleied by Aue Housing and Ihe tenants moved in in October 2020, sh.ghuy later than hoped #$ 3 res1 of the Ynpact ol COVID 19 restrictions on the we4ks. The property has provided a home for Ilwee ten•iis comp behawurs fr#9h support needs and has an additronal Irn for a Irth tenant in the fvture. In adthbcfi. we oPed a new seryice in Oxford a h)me lor 4 tenants ¥Ath kiw 9POrt needs and began pro¥idin9 511PFrtIrt ¥t a SIce in Wrtney 4 tenanis. Public benefil In weparing Ihese finandal slatèmen15 and thelr report, Ihe Tnjslees CDnffiFrn Ihal Ihey have had regard to Ihe Charity CDrnmission'5 9uidance on puL beneffit and that they consider thal thè objectyve$ and adivitie5 Of Sty A¢r¢ have htsloitalty and corknue lo lal ilhin the scope ofthal gwidarK¢. Any adult 4bith a leaming disth'lty can be supported by Stye Aue and support aduths have other condrtions in addc io thw"r12arning disatiles. inchJdthi9." Sertsory impamnI, dernentia. mental heallh is5ue$ and autism $peclNm disrKder. Access to seTrices 15 via a local avlhority social Afjrker. care manager relerT. Of a th.recl referral from the Indidal w Ihelr laff4ly. We use our th3nlat4tr fvnds to WDwde additNyBI 5eNces, vtrich are not otherY4ise lunded publicly lo enhance the lives ol peaple wilh disabth"ties. ExaMe$ of t"5 are.. day opportunilies al our comrrrtjnity hubs. accessible vehicle5. ouf Work Pro9ramme. ow Garden Prqed. nur Ways lu Wellne55 Prograrnme. communicati( sw)port. the pro¥i51Dn ol inlmb.on tethnclogy and Irdininy. friendshrj groups and comrnunity development. The charity has a fLIty (h¥ned subsithary, Style Acre Trnthn9 Lwnil•d, thwDLryh 7hkn.ch rt carries out # wmber of trading enteriSeS Isoc41 enterpri5e5) and also delvets some of lis caiTtable obie(tive5. Such 45 work training opportunities. The taxat4e profiis ol Style Acre Trading Limited ¥e doAaled ndr 9ift aid io rts parent andlor to the chty Acre Hn9. Fin•nclal rnvl•w Financialperfc¥Thancp Incorne has increased from £8.400.868 Jast ar to £9.699.859 Ihi5 ye* dtyHtions and pledge5 in the year of £759,477 12020". £300,262). This 15 significanuy higher Ihw W0U$ years due to CD¥id grJnlS and incorne ferxived trcrfn Oxfwdshire County Cwncii for Infeclion control and vrtjrkplace capauty funding. Our Sw)ported Livin9 and Day CwrtyneS seTrices are fvnded Ihrough grants frorn local ¢oLmctls and by local a4thonty contracts and diFect payments, Incom• frcvn Ihese xty"wties lot&led £8,721,434 in the year {2020.' £7.715.1341. The Trustees wt satisfied thal tyjr general fwd, tAl¥th tola15 £1.141.330 (2020.. £1.020.6001', is at a level that wil sustain the charity lor ihe foreseeat Tuture as slrong fThncial managemenl i5.kn place wlh ¢unent and fijlure fundi19 "rt9 re9darfy reyiewtd by Twstee5. Tt)tsl reserves amount to E3.287.157 {202¢X' .475.5431. ReseN8s policy The charbvs pdicy 1$ lo avatst4e unrestiide¢ I5 aL or ar04md. a vthich enables the ongoing actryib'es ol the charity to be lunded lor a period of awoximatety morths loo9 f¢hTh¥aTd. This amounts to £2.193,305 P020: £1,452.9061. Page 6
SME ACRE TRUSTEES. REPORT (CONTIXUEOI FOR THE YEAR ENDED 31 MARCH 2021 STPATEGIC REPORT FinanGi41 fevt•w ReseThes poly fconlinved) In delennining the level ol funds required. consduation be ven to pknned expen(#"iure. the cal pendilure w0me. lvated re¥enu• slr&Mi$ and the fbsks and effects of any ¢onlingencies. The tThslee5 are happy Ihat keeping months. ruMin9 costs in availa1 reserves contirwès io be a sensib policy. Approyimatety 78.VA {2020.. 70.9%) of lIable ftmd5 CQLld be reaI5ed by cash or the ffiquldèbon of 5ted inveslmenis at the year end. The Trv$iees have remthtd the desvwation5 made out ol ils unrnsln.cled reserles dwing the year. During the year a new designated resen has been put Mi place for co$ a5Srtth4 with a rw main office bLrildin9 and day opportunity hub in Walbngford. The le lor current woperties al Park comes lo an end in October 2021 and discussions we currenuy uThJeTh¥ay lIh the to ext Ihi5 for the short term and develop a bespoke tr11ng to meet Style Aue's futu nttds ai Hotrry Park. The TrLt5tees con5Kler it aPPTopriale to lomi a desh41ed reseNe 01 £600.1X)0 {2020: £rj to lund the fulwe ¢osis ol the fitting or and move lo the new tJilding. There have been chartges in the yearto ihe other designated reserves. 5•1¥25 conb.nue lo be Trn kla¢e for. SA8Re buAth"ng 11 8anbury- (utfft repwr5 marntenance. The freehofd of the S4BRe building is owned by the tradFfv4 5thKliary, Style Acre Tradmg, lèt parts of Ihe build1. As part of the leasehold mana9emenl Gharge paid by ten15. the tenanls me ¢ontsibthns towards fuluie repairs and mainlenance costs ol the lIthn9 any amoLm15 unused the ytrar Ir)rming part of SMe A Trading'5 re5eryes. As a re5uII ol the stnxtw•, Style A¢ Trathrvj donates all of 115 d+5ln"butable reseThe$ lo Style Aco year wtder gft arfl •5 such no feseNe5 a held wlhln Stye Acre Trading tor IUre worts requred on the property. The Tru51ee5 therefore consKler rt mjdent that a $inkin9 fund balan¢e should be hdd asTrde Style kre's reseryes for Iviure wttths that are required. £700.000 loan rnade to Style Aue Trathng fN Ihe purchase and refvrbishment ol the SABRe buildng in Banbury. As oulird above, the Trusiees and Ihe d1cl5 of SW Acfe Trading a agreed thal the tention of Ihe paymenls maile in 2014-15 and 201>16 by Acre er as a ¥)aTh raiher than a gift. The loan 15 repoyable by Style Acre Trading to Acre in the event of a disp05al of the bulding. Due lo thè long terni nalU Off loan. Ihe r¢st¢S repSeIe by ihe loan debtor •e effecli¥ely illiqtid. ReaGement of fixed assels- WTrDSe ofthe we5erve is lo set aside 5ufficienl n5 for Ihe replacemert ol assets. particulwty molor ¥elicles. as they ejther lail or become bey(KKJ econonmc repair. The balance des•Jnated £255.92812020". £264.372) refteds Ihe rffj4acernent ¢04. InvesinJ8nl ptrlKyand obiectr¥es The thaiills inveslrnent pob'cy 15 w maMise Ihe fvnds avalabje to the tharity to furt the aims ol Ihe charity. It airns lo invtst funds Ihal eumcally •id en¥ironmentally swnd. Inveslment income l¢Y the year ended 31 Marth 2021 amounted to £18,B8812020.. £19,173). comprisin9 IllteTe51 receNable of £186 12020.. £1.OS31. and £18.702 12020." £18.1201 from inveed funds. The value of ihe lund be inueased by £67.120 after the addrtion$ during Ihe ye* ol E250,01)012020.' deueased by £18.439) in year to 31 Marth 2021.
STYLE ACRE TRUSTEES. AEPORT ICONTINiEDI FOR THE YEAR EMDED 31 IAARCH 2021 STRATEGIC REPORT Financial review PrinupaliF51rs and uncertainlies The TtU5tee5 consider Ihat Ihe prirKwl ii5ks and uKertainties fxn9 the chanty are.. 1. The impact of the no11al 5wng wage the Challeje ot stsff and vi our Ic etonomy vknich 1$ prdorw4lety an area yh a¥alalJbE j¢Jb +Jppothrths. lryw eMYment, Jd relatively hish fwing cosis: 2. The continuing pres5ure5 on puL ¥endry. tmth the lor¥l aulhtyity flry lo adequaiety addoss the financial piessures whith we tsce over stsff costs.. 3. The absence of adewate increase in ore paym5 th rerenl year5 and the absen¢e ol any P05itNe inthcation that comrwmsswws address this". 4. A3$$e$SMents ol ser¥ice user5. reds 74thich èrodè the fmarKial $upwt wovKled for cffi•nl support packages.. 5. The availabimy ol suitable properties far Aue Hwgn9 to wrchase at markel prices thich allNt it to adaFI and nffi them in a 5USta¢nable and ffinancially 6. VoKls in hovsehG4ds and the length oftime it may take to Mlenlify and seitle new housefdd members: 7. The future c0515 ol compliancE and nwilarnin9 exceNenEe in our support provision: 8. The promon af the work we do, parts'uJlarty ¥•itfrffj day Opportunles. wlwch relies on rnatc9 donalion and grant income", 9. The invad ol Ihe goIng COVID-19 CTi5i5 aNJ a5ated costs. Our fv¢uo plan$ a d¢s¢rkned belDw. stiale9ies tr manage Ihe risks atthe are.. To have a Cl picture ol Ihe housK>ld we we lry¥ig lo estsl$h a1 the needs t4¥e * seeking to meet vthen planning new 5eryires: To continue to rurt antj ietain the best qualty slaff Ihat can affd. in pticular using existKig staff as part ol our recTuilment efftwt.. To involve all opuational managers in hin9 kn Cor1 expenditwe or• a9ency staff." C(ryreheny¥e se$ ol COV11>19 risk a55essfflents and aCin plans. Fthure plans Dwin9 th¢ the Trustees reeWed thw stFalegy. given the thalEllges fa¢ed and unCertaty COVID 19 an interim 2 year strategy ta 2023 ¥Ms prepartd. The strJWy reco9nised the ffinarbcial pre55ure5 the local lhOlIty cyerales under. and how this may havE an impa¢t on how much ol the demand lor our seThi¢es can be met. Wle have shared Ihe detai15 d our strategy vthh the Tnjstees of Acre Housin9, because ol the close relationship bolh charities maintain arrft because al Aue Hwsing'5 imptanCe as Ihe 0¥eT ol so many ol the properties where provide suPpt Acre Hous9.5 Twu51ees have sel the pro¥i5iDn of suprted prwertbes to be tenanted by households SUFPOrted by Style Aue •$ th•r crrte gro%%th o.ecI1¥t lty the next five ye•r5. Our mulual larget is to add properties at the rnte of l or 2 each ye. Over Ihe Coming hEar. we look to pro¥Kle a nurnber of addl)nal supported living ser¥ice5 in partnernhip with kre Housing through th•r pwtha5e of an addiliDnal propety. We 4150 wJrk 1th families 4th0 have purchased their wi Pfwrty bul are looking to St> Acre to wo¥vJe the supp1 so that IndividL needs are better meL In addition. development •rtJth5 by Aut at exisbrvj Pfopert$ alow sdkconlained annexe additional bEdmom spa¢e5 or mcrfE surfable crmunal ¥eas io be ueated. As well as provithng new capacity, the development ol amexes helps u5 pfoyide suppwt opptsrturths for compleu user5 ne¢d pers accommodation, vthich be unsu5tainatle as an indi¥rydual wofvy. Page
STYLE ACRE TRUSTEES. REPORT (CONTINUED) FOR THE YEAR EIIDED 31 IAARCH Z021 STRATEGIC REPORT FUle plans l¢ontinu•dJ As reslriclic¥is k.ft and Day OppthJnibes seThices gerwaty mo¥e away fvorn building based we continue lo revie4V fNr seThYces and buiJthn9s lo gfW our 5er¥Ke wovisi¢Jn to belter meet the needs of the people we supptyt Discussions &tinue iih our llords arfi the lor4Jer tern plans lor our main offices and the Tumstwe day opporbjnikn.es al Hiwknery Park the lease ends in Oci 2021. It is anticipated Ihal Ihe lease VAI be exlend¢d in the short term vkile a new be5pokn tIJ1)ng 55 bull by the lanthord lor Style Acre lo lease. We wll continue lo monitor comFty the COMtN19 guidance and iestricltons adapting our strategies arhj plans as apprttwiate. Regular managent sesons are hehl Tntslee updates prowded to ènsure Ihal appropriate and timety dectsims w be made resFXJn5e to an ¢¥er thanging situalion and nrOnmeL Regular manag&meni repthtng aftd c35h flow vtsure Ihat tirftrmation is availablE to 5UPPQrt dslon maknn9. STRUCTURE. GOVERIIAMCE AND MANAGEMENT Govemtng do¢um•nt The charity is controlled by its governing do¢ument. a deed of trust ard constitutes a rnited company. limited by guarantee. as defned by Ihe CwMe$ Ad 2006. S¢ructure and Managernent Se Acre is by a Board of Tmslees, are resp(S11e lor the strate9ic direc1M of Ihe dwrity. They employ a Chiel Executive, who. together V4ith th¢ (7perati5 DYeclc¥ and Finance Oirector. is responsitle for eliverir¥J Ihe objects of Ihe charity. New Trustees are appoinied by the 8oard and all Tfuslees rnusl be at least 18 yEaf5 01 age and capable of managing hi5 w her affwrs. Each twslee shall offer l#$ or her resignalion to the charity on the exptry of three years from the dzle ol their appointmenl slats'ng that ht or She wishes to relire or continue lor a (urther period 013 yea15. AJI Trustte5 are rwJThl io ha a Disd05ure Barrnw SeThtyce (DBSI cheelt 8nd a protection ol ¢trrtk on awnlmwt ar ¥n every 3 years. The Trustees ha a tde range vf 5klls pethenl to the charity. and addibonally ¥ paired wlh a number ol operational managers in a mentoring capacty trtr w0¥5de coachin9 SUPPrt This also &Wles Trustees to enhance Iheir knowAedge of the chanty Ilwh frorrt-line experIee. All Trusiees give Ihew time vrAuntw and expenses may be paKI. No •xpen5e5 viere paid duripo the year ended 31 P4arth 202112020.. £nl). The eoard meeis on a regular basis, cwrendy four Iwne5 annuaty V•ith a separaie strategic ieview meeting. At eoch regJlar meethig, the Chiwl Exer4rti¥e syes¢A15 a tra(ling aid gov•mance report to th¥ Board. vkno also receive management accounts and ansis trcffi the Finance Director to erla them lo monilor our financial Position. Reports from Ihe Operatths Thrector, ring opernlional perfornmnce and •nfomkn"on ¢emiTrg Ihe people we supp)rt. are woyided to these meetirrfjs. This enables the Board to ensure they are luty brieled on issues relating direcity ty our ser¥ice users. Th¢ Boanl also appm¥e the chtys amual bLKly¢l in advance Df eath financkal yeaf. The 8oard ol Trustee5 reifjew the ¥l¢les and our and obiecti¥es anwalty. We asses$ ow effèctiveness amd achievemenls tTrwtyJgh an annual apwaisal process and deGNl• vthrEh adi¥ib"e5 must and what else we could do lo enhance the h'¥es of Peop kaming drfflculbett1Sabile$. The Chief Execub"ve and the Board review the benefjls that w 4¢trvrties havE brnughl to the people support ard this helps us to slay Iocu5ed on our key objectNes. The ¢haiity al operaies wihirt a S year 5treg>c pLan. ensures aw our •ClilIeS relled the tharilys obie¢ts and pro9resg ¢an be effecli¥eiy monilored ond evalu*ed. Pa9e 9
3r£ ACRe TRUSTEES. RepoftT (CONTINUED) FOR THE YEAR EKOEO 31 MARCH 2021 STRUCTURE. GOVERNANCE AND MANAGEIIIENT Inductlon and trainlng oltrusteos TNsiee5 we en¢avraged to undertake a5 NLY Tntstees are 9ven a job de5CriPtion. an Inducb"oTh irto Ihe wkmg ol the ¢harity and Fwv¥ided lrninirwJ il requI¢J. Trustee5 are cowa9ed to 9d to knt the peopk port ar)d our staff. Risk managem•nt The Tru5lees hab a duty to k1enirfy and review the wiskn to chity is exposed and to ensure ppmpftate ¢¢ntrol$ are In ce to WOVKle reasonable asswance agwnst fraud and error. The Cts"el EecuD¥e is responsible lor undertakn.ng an anrwal r asses$men¢ ollLe chanty and for drawing up a risk manage1 plan lor the 8oarif5 a0Val. V4hever possible. Jpwopriate controls and pfocedures are put In place to mitigate the risks. The Twstees have undthtakèn a thrywgh revièv ol risk this year devfjloping a better understandng olthewfft$k apPee aThl tr way measwe ris The charty al ernp the seNices of a Heath and Safety ar¥J Humafi R¢swrces coftsultancy in order to ensure our comFliance with Kabfe legl51a1K. lo rnnn awareness of best practKe and to protect the beirwj ol its employee5, volunteers and pe(ple suppo Page 10
sriLE ACRE TRUSTEES. REPORT IcoiifiNUEDI FOR THE YEAR ENDED 31 W4RCH 2021 STATEMEirf OF TRUSTEES RESPONSIBILMES The Trnslees, who ar• also th'recttys ol Sty4 Acre lor the wryose5 Of company law, are responsible for yeparing the Report of Ihe Trustees and Ihè ffinanC stsiemenis in ¥¢cordance Aith applicable law and Uniled Kingdom ac¢ounb"ng Sdds (Urwled Kingdom Gen¥th A¢¢epted Accwniin9 Practirel. Company law requires Ihe trlthes to prewe 5t•ternen15 ts each finanty81 r wthith give a true and tsir ¥iew ol Ihe stale of 4ffaif5 of the company and ol Ihe sU5 or defj¢it ol the compwy lor 1hèt pewitid. In preparin9 those find[31 SeMentS. the Inlee5 are reqUId to.. sdect $table accounling Oicies and then apY thttn cMsi4lMUy obseThe the methods and princWe5 in Ihe Charitie5 SORP: make judgellnts and e5tim•tes that are Teasonai4E and wudent state whether a1¢0b acCn9 513ndaa15 ha¥e bren fol(yd. subj'ect to any maierial depanurts disclosed and exp1wrd in the financtal statements preparè ffinan¢ial statements ¢Yb Ihe gcirwj concern basi5 unlem it 15 iwyopriats to Pfesume I1( the thanty will conbnue in business. The Iru$tees a resp0ftse for keepry a(xounkn9 le¢0S vA¢h disdose vAth leasble accurncy at any tiffE Ihe financi pos.n of the company and to enable them lo ensvre thai Ihe fiftHla1 51aiemenls comply with Ihe Companies Act 2006. They are s0 Sponble fof safe9uarding the a$sets ¢fthe ¢ompany and hence for laking reasonable steps for the pVentIOn and delec1b of fraud and olher iiiewknt. The truslees •o reSp¢thIe for mlenanCe and integrfty of the coorate and fiftan¢ial information inclLvJed on Ihe chariti1e website. Legslation in Ihe United Kingdom 9o¥emry preparation and di55emination of financral slaiements may ¢Mler (rwi W.all0 } othE¥ iuisdiclion$. stotenwnl as to dlsclosure tD ¥udlto so far as the tnJ5tee5 are aware at Ihe time of appro%Yry our INsiees' Amual Rewt.. there 15 no relevant inlomiation. bng infomAkn needed by the audrtor in Conn2th Mith prepariThJ Iheir report. ol Ihe group'$ audiity 1$ un•vaie. w the Irustees, having made such enqwfies ol lè11 diredorn and the 9rw's •Alitor they ought lo have individually laken, have each taken all steps thal helshe is 01d tt> as a director in order to rnake thèmselves awa of any rdewani aj11 wifmlson and io esiablish that the audor is awa of that InfoallOn. AuorroRS A5 part of the 5 year planThng ¢[e n V•thKh al rn¥ir cwtracts are tendered at some poinL audit sewces we tendered by the frustee5 duriThJ Ihe year. In acccydance 1th the Cr*npanies 2006, a iesotutson proposing the appnintynenl of James CLxvper Kreston was submitted to Trustee at the rneetg hekt on 26th No¥ernber 2020 •)Ll was camed unanimLYtsly. Jame5 Cowptr Kre51, lje prcp05ed far wpwnlmeni at th• lorthcc¥nin9 Annual Genernl Meeling. Approved by order of e member5 ofthe board of Tfustees signed M theirbehall by.. iilr A R Vgrn Trusiee Dale.. 13 hl. Page 11
STYLE ACRE IIIDEPEMDENT Auixf¢m REPORT TO THE IAEMBERS OF STYLE ACRE Oplnio We hav• audil•d Ihe f¥1 $latements of Sty Acre (the coTwnY) arKI ils subsldlaries (the '9roupJ lor the y¢¥ ended 31 Nlarch 2021 comw$5e Ihe C5¢4ted Stslement af FinarKial Actiwties. the Consdidated balance sheet. ts Charrty balance sheer. Il Con501idated stalèm•nl of cash ftr)w5 and the related notes, indudKig a svmmary ol signrfrtanl Jrcounl"ng poltcs. The finanaal reporting framethrfk Ihat has been apFAd in thwr preparation is appkatle law and Urmied ngdorn Accwnts"0g Slandards. indLtding FinaTrual Repothg SLdard 102 'The Finanoal Reponry Standard aprat4e ¥n the UK and Repubfic of Ireland. (Lthiled Ksngdorn Gen•ty Acceoed AcCour"n4 Praclicel. In optnion the fmcial stalw1 give a true arHI f1 Mew olthe slate of the &w's of Its pall chantable ¢ompanYs affairs a5 al 31 Marth 2021 and of the Grwp'5 incr1n9 re%r¢e5 and applical'on of $0e$. induthnj its Income and •xpenditure for the yar then ¢nded: have been property Fxepared in acCOrtan ilh Uniled King(hJm G¢neraly Accepled Accounting PraclKe.' and have been ePad thi accordarte the fwmrements ol Compan9 Ad 201A and the Charitses Ac12011. 8asls lor oplnlon WE cunduGlrd our audit in accordre Inlemalimal StsThlard5 Auditing IUIQ (ISAS IUKII and appbcaWe law. Our 1esponsilx.ties urthr thD5e standards are further described ? the AudW5 responsilitie$ for Ihe audit ol the finanaal slatemenls section ol report. Yvt ¥e independent of the Group in accordance th the thieal requirements Ihat are relevant to our audrt ol Ihe tlnancial slatements n the umed Kingdom. includin9 the Financial Reporting Colbicifs Ethical kndard. and ¥%t have tutfykd our olher eihical resporffjitslities accordance wth these requirernents. We bthve ihat Ihe e¥iderYx have obtavied is sufficlent and appropriale lo provide a basis tor our opirion. Conclwlons r•latlng to gdng conc•rn In aufliting the financial statements. ¥ he conduded Ihal the Trustees. use Df Ihe g(Mng wicem ba515 of accountw¥J in th• preparation ol Ihe finanGial slalements is apwopiiale. Ba$ed ¢)n the Tk have perfurmed. have nul identified any marial uncertainlie5 relatsng to events or conthts.ons that. iwtdM¢Jaqy or tt4le¢bv. may cast synifKant doubt OA the Group'5 or the parent chafitable companys ability to continue as a gory concem for a pen.od of at least t4%elve ffl$ from then the financial statements ¥e aulhofised lor issue. Our responsioilities •YJ Ihe respmsib'1th5 01 Ihe Twstee5 *ilh SpeCI lo going concem are described the relevarl sections of ihis rèport. Page 12
SME KRE INDÉPÉNDENT AUDITOR'S REPORT TO THE MEM8ERS OF SME ACRE ICONTINUEOI Othèr Inlorniatl¢n The olhw comwi5es the inlonnation induded in the Amual Report Olr than the fin£¥1 staiements KI our ALvJittk5 Report The Tntsiees afe respS1Ae lor Ihe other snfonnalion cortakned ithin the knnual REPO Cw opinion cn the firwnual ststefflents does not cover Ihe other information and. except lo Ihe extent olheThvise explic¢Uy stated in our wr( vrt do not ewss any fonn of assurance condusion thereon. Ow respon5its.rty is io the Other infom1at1 and. in dung so. consider whether the other inlormaknon is materially incon%slent ith the finaniial statefflents or our knovAedg• obtained ITr the ccmjfse ol Ihe audrt. N otherwise appears io be materia¥ misststed. 11 idenbfy such material inconsistencie5 or apparent material misstalemenls. we afe required to delefflhne thr4 gives rise to a maierial misstalement Sn Ihe finanaal Statents Ihernsel¥e& 11. based (m the work 44t have perfomd. ¢tydude thal there is a malerwl missiatement of this other information. are requyed to reFKXt that fact We have noihkng lo reptml in this regwd. Opinion on olh•T m•tters pr•s¢rib•d ty th• Compankn Act 2006 In our opinio). based on the tAork lertak ffi tl course ofihE authL' infomiabon 9i¥en ¥1 the Trustees. Rewt for the fina111 lor hich the ffinarKial stment$ are Prepared 15 consistent Wi the tharTial staternenls. the Trttes. Repth has beffi wepared in accanlanGe ith applKatrle18gal wremffrt5. matte on Thlh we are vequlred to report by excep In Ihe Itghl ol our knuAedge and UrtandIng ol the charilabk company and it5 en¥ironmenl obtMd In the course ol Ihe audit, wè ha¥e not id•nb"fied maieiial misstatèments in Ihe Trustees, Report. We have noii)ing lo report in 1è5pect of the f¢llty¥MI9 m•ttefs in rnlalthi to CLInpan5 Act 20C6 requwes us to report lo you il, in wr opinion.. tl parent tharitalAe conVY has not kept adequ sufftienl a¢ting records. or retums adequale for ow auijt have nol been recEive(l from ly$ nol ITr5iled by u5.. or the parertt charilable cryfty finaal staiements are Thji in agreementwrth the accounting records and reium5.' or certa"n dtsclosurès of Tru5tEe5' remuneration spètified by law ¥e rl rnade,. or VIP have nDt received all the inlom)alion and ewanations for our audit.. ¢x the Tw51ees not •ntsVed to prepare Ihe fmancial 5talrnenls in accordance ¥Ath Ihe small companies regwne and tske ad¥ar)lage ol Comp15, exempiions in preparing tre Tws¢ees' Repryt and from the requirement lo prepare a StrategK ReporL ReXponsibiliti of trustees As explained more fvly in the Trustees. responsibli ths $talemenL the Trustees {•&ttu zre also Ihe thre¢lors oflhe charilable company lor the puwses ol conyy law) ¥e responsible for the Preparat# of the finwc¢al slalernents and for belng satisfied that they a truè aTrJ fail ew. and for such intemal control as the Trustee5 deierniTh 15 necessary to enable the preparaltcm ol naJaI statements that are free from material mis51alernenL thelher thje to fraud or In prepatywj Ihè financial slalernents: Ihe Twstees we respS1b1e lor asse55ing the Coup¥ and the PanI chaiitable eompatys ots.hty to Continue as 0 concem, di5¢105in9. as appfieable, malter5 Telated lo going concem and using the goin9 wicem ba%s ofa¢cMkn"n9 unless ts Trustees either lend lo fH4uidate the Group or the parent th•ite or to ce•se opwakns. or have no rea$¢ aliematNe lo do 50. Page13
STYLE ACRE INOEPENOEP4T AUOITOWS REP£T TO THE MEMBERS OF SME ACRE ICQIITINUEDI Audltorfs fesponslbllftles for th •udlt olthe financial stslernertS Our obpcti¥eg a to obl reaswth asyurance atrf)ut Tthether thÈ ffin¥Kial slalements as a vthde fret from material mis51atement, lthether due ¢0 frwd eThor. and to issue an Audiiorfs report that includes our opirwon. Rea50nabFe assurance is a hi9h level ol a55uran(e. bJl 15 not a guarantee that audrt conducted in atrdance i¢h ISA5 IUKI wll ways deted a martaI mis5tatemefii vthen il e5t5. Misslalements can arise frum fraud or rrDr and are ¢onsidered moter1 rf, InthO1Y tsr in the J99regale, tty reasortabty be expecled lo influen¢e the ec01¢ detisions ol users taken on the basis tsf Ihese finala1 statements. Because of the inherent ol an thwt is a iisk tr1 w41 deted al bwukrfties. thUdg Ih05e leading io a mateiial misslaternent in the financiaf statements or non-compliance tmth re9ulatlDn. Thls risk increases the more Ihat cOmnCe a law ty re9ation is removed from the events and transactions reflected in the finanryal slatements. as be less bkety to becorne awe of Instances ofnorF¢ompliance. The risk is also greatèr regwth'ng wrryAarii5 ocnIng due to fra1 ralhew ¢han eThor. as frwd invclve5 inienb.onal ¢M¢e4lmerL ftygery. co]ktsi(m. tyrmsson ornmyewesentalirm. The specific procedures for ttM5 engagemeni tha¢ we ¢Jest9rd and perf0ml lo detect material rnlsslalements in respecl of irreguLtIes. In¢ing fraud. werè as loNM: Enquiry ol managemen¢ aThl those thwged vlth govemm around actual potential kn9aOn ar# clairns: Enquiry ol managemenl and iIK>se th¥ged vAh 9Dvemance to iderfy arry matwial inslances of non Comlance law5 and regulaliMs,' Reviewing financi stale1rt disdogJres and lestuig to supwling doCuMwtst io assèss ¢panCe *ith appl¢able law5 and regulalTron5'. Perfofming awfr't work to address risk ol irrotht due to fflanagemt oveide ol eontydg. includin9 testing ol journal entsies and other adjuslment5 for appYoFwwteness. e¥aluatwwJ the bussne5$ ratiunale of signtficant transact5 Ujtslde the nrxmal ¢wrse ol IsineSS TevEwny XCDwhts"ng e5timale$ for evidence of bias. A lurther descrity.on ol w fe¥Mybilities lor Ihe audl ol thÈ fjnan¢ial siatements 15 localed the Financial ReportiThJ Counol's tiSite at.. w4hY.frLryg.thuovSle$p0nbthèS. Thi5 desrfipiitirj ronn5 Port ol our Auditorfs report. Page 14
STYLE ACRE INOEPENDENT AUDITOR'S REPORT TO THE IIJEMBERS OF STYLE ACRE {CONTINVEDI Use of our rwrt Tlw's report il made solely to Ihe thitable cryanfs Mem1S. as a body. in accardance ith Chapter 3 01 Part 16 of Ihe C•Jmpantes Act 2006. and to the charitable conwnrfs trustees, as a btsdy, Part 4 of the charib.es {Ac¢ounts ar Reports) RegUla13nS 2008. Ckn work has been tsndertakèn so thal mTrgM state lo the charitable Mpan*S rnembe ihose maiters vo are oquired 10 51ale lo them in an Audr(0rf5 Report and fu no other PUSe. To Ihe lullest extent pernNtted by law. VR do nol aePt or assume responsiblty lo anyone other Ihan the chariiabte company and 115 member5. a5 a ts)ty. ¢A4r a"1 vffjwk, IOT ihis Port, or lor the opinions Darf•n Iyconnor asc IHon$J FCCA ACA InIor statutory aor1 for and an behaff of James Gov•p•f Krnslon Chartefed ACcounnts and Stalulory Reading idge House Gecige St1 ReathThJ 8ethshire RG1 8LS Dai•: 15 Page 15
STYLE ACRE
CONSOLIDATED STATEIAENT OF FIIIANCIAL AGTMTIES ONCORPORATING INCOME AND
EXPENDITURE ACCOUNTI
FOR THE YEAR ENDED 31 IIARCH 2D21
R•strl¢t¢d Unr•stri¢ted
ld$
2021
Tolal
ntls
2021
Tolal
Z021
2020
t4ot•
In¢orne from:
Oonations 9tsnts
Charitable actiNiiies'.
Sup
Opportunilies
Inveslmenl income
Other income
413.1191
346.379
759.477
300.262
7.473.770
1347.664
7.473,770
1,247.664
18.881
200,060
.6.264.535
1,450.599
19.173
366.299
300.060
Total Inc
STYLE ACRE REGISTERED NUMBER: 0491)6915 CONSOUDATED BALAMCE SHEET AS AT 31 thIARCH 2021 2021 2020 Mote Flx•d •ss•ts Tangible assels Inveslmtnls 12 1.730.035 109.924 1.782.378 492,804 13 2,SJ9.9$9 2,275,182 Cmnt 85sqIs Debiors Cash at bar and in h7nd 14 467,647 160.S79 312.022 536.932 1 J28.228 848.954 Cr¢ditws." amwits falling 7itIMn one year 1$ (511.0211 (648.5931 Net current assets 747.198 200.361 Tolal assots less cmnt Ilabilltl•s 3,217.157 2.475.543 Totsl n•t •ss•t• 3,217.157 2.475,543 Ch•ilty fund5 Restricted fund$ Unrestri¢ted fuTrJ5 16 16 222,231 3,064.926 209,785 2.265,758 Total ftNMIs 3.287.157 2.475,543 The fintial slalements have been accudwce ilh the W0ViSiL$ •pplcabte lo eDtitie$ subject to Ihe Small Companies regime. Th? 5tat¢mtrts apwoved aUlhVn for i5yJe by Trustee5 and signed on their behalfby.. MrARV•m Date.. z The notes on pages 20 to 44 f(kni part ol Ihese finanual $laternenl5. hl. Page 17
STYLE ACRE REGISTERED NUMBER: 04906985 CHARITY BALANCE SHEET AS AT 31 MARCH 2021 2021 2020 Nole Flxèd a$$•ts Tangible ass•ts Irwesbnents 72 361.2S3 1.209.926 402.702 892,806 13 1.571.179 1.295,508 Cur¥ert assets Deblws Cash at bank and in hand 14 1873,929 761.101 1.338,352 480,308 1241737 1.818.660 Creditots." amtrJnts fal¥j due vth one year 15 1559.S811 {625.8101 Nt wrrent ass•ts 1.613.156 1.192.850 Totsl ¥s$•ts Itss curyenl liabikns 3.254,335 2,488,358 Total n•t •ss•ts 3.IS4.335 2.488.356 Charfty fwKI> Resln"cled funds ueStriC1ed funds 16 16 222.231 3.032,104 209.785 2,278,573 Total lunth6 3,254.335 2.488,358 The finanual statemtnt5 have been prep3red Ni acctxdance the prt)wsions applicabk enth"e5 Subject to the smal companies regirnE. The financial statefflS apwo¥ed authonsed lor issue ty thE Tnlee5 and Srted on they bEhalf ty.. rARV•mon Date: 25 hl. The n¢xe5 on paye5 20 k> 44 fo part of these fla1 stalernents. Page 18
STYLE ACRE COIISOLIDATED STATEMENT OF CASH FLOWS FOR ThE YEAR ENDED 31 MARCH 2021 2021 2020 Cash fl¢)w4 Irom operatlng aclr¥lU•s Nei ¢a5h genefaled from Ope119 aoli¥ibe5 19 580.073 422.963 Cash 110 Irom Inv•siing acllvftl•s Dividends. interests ar renis frtyn Mivestsrnnls Proceeds from the Sa of langible fixed assets Purchase oftsrvjible fixed assets Purchase ol inveslments 19,173 $02 15.554 126.87J) (141.0761 12SO.000) N•1 cash ug•d In Inv•511ng •¢ll¥111•s 1257.413) 110fj.3491 Cash flows from fina19 •cIfvItI•s ank char9es pakl 16.9431 19.6601 Net tash used In fmanclno xtivitkns 16.9431 19.6601 Cfiange In cash and cash •qulvaknts kn tho year Cash and cash eqw*nts * the be9inning ol Ihe ye¥ 323.647 306,954 229.978 536.9J2 Cash and cash equl¥al•nls at th• •nd ol th• y•ar 20 080.$79 536,932 The notes M pa9e$ 20 to 44 frThi port of these finwKial sLi1ents Page 19
STYLE ACRE NOTES TO THE FIIIANCIAL STATEIIENTS FOR THE YEAR ENDED 31 MARCH 2021 AG¢ourtSng polides 1.1 Basls of preparalion of fin•fict slatem•nts ThE financial state1$ hav been prepared in acetydance the Charitse5 SORP IFRS 102) - Accwnts"ng and Rwting by Charits' Slatement of Recommended Practice appli¢able to tharsiles preparrng It"1 accounis in ac¢ts¥dan¢e lIh Ihe FinwntK41 Reprytillg Slandard appicable in the UK and Rewlthc of IrelarKI IFRS 1021 {effedwe 1 January 2019), tht Finantial Reporting Standard apptr"cable in the UK aKt Reputthc of Ir IFRS 1021 Ihe Companres Ad 3006. Ae meels Ihe dethtbon ol a pubk benefrt thitrty under FAS 1Q2. A55ets and Isabilties are ithally recowised al hLor1 cosl w tronsaclbw e lesS ststed the leVant accouniry polry. The C•nsdtdaied Statement ol frial actyth'5 ISOFAI Con501idated balance 5hèel consolthte the frnul stslements ol the Chanty ar¥J Its 5yb5idiary undertakry The re5u#s of the subsidiary are c50dated on a kne by hne bas The ch. ha5 taken adwlage ol the alatd undef seeknffi 408 of Ihe Comparn'es Act 20C6 and has not preyerrted its SAaterntnt olffinancial •cbvths in these finandal slaterwts. 1.2 Incm 11 income is reco9nised ortt the Chanty has ¢nkn"Ilwnert io Ihe income. it Is probable that Ihe incon be received and anu ol Iorne receivth can be ffleasu leal. 1.3 Expendlluro Eypendrtuie is recognised ooce there is a legal or ¢M51nKtNe obrwat1 to transfer economic benefit to a tlwrd party, it ts prob th a tran4er of ecwomic benefits wll be required M seillemert and Ihe amount olthe olioTr can be me35ured rdrably. Expendrture 15 dassified by actfvity. The costs of exh acliw'ty are made Up of the lotal of th.rect costs and shared c0515. cludIng support C0515 involved in undertaking each acbwty. Oirect cos15 attributable to a swigle activity 8fe albocaled directly lo Ihat acbwty. Shad costs which contrj.bute to mcrfe Ihan one acli¥ity and support cosis which are nol atln'bvtawe to a single actswty are aF?Oned betrmttn those acti¥ittes on a ba515 con$istentwlh Ihe use of reSe5. Central staff costs oted the b•sis of tim• spent, and depreciabon thaTg5 alk>cated M the WJIti of the ossefs us¢. ExndIll on Msin9 rJ$ Intludo5 al expwKthlwe by tre Group to rabse ILdS lor its (harrtab pwiJose5 and in¢bJdes cosls of al hbrthisiNJ ¥tiEs even15. Expen£lilLwe on charilable adiwtses 15 in¢uried on dire¢ty urthrtakng the aclivlies which Ither Ihe Group's obiecb"ves. as well as any associated suppyl costs. AM experKMwe is of irrecoverable VAT. 1.4 Taxalio Th¢ Charity 15 c0n5K1ed Its Pa55 the tests sei Parngraph 1 Schedule 6 of ihe Finan¢e A 2010 and Ihefefore it meels the defmID. of a charrfat4e company for UK cOtim tax purposes. Accordingly. the Charity is FOtenliaty exemw ftom laxation In Tespecl ol COme or ¢aprtal gain5 rewved calegorr$ coverÈd by Chapter 3 Part 11 01 the Corptyabon Ta¥ Acl 2010 or Section 256 01 the Taxation of Char9eaWe Gain5 Act 1992. to the extent that $u¢h in¢ome or gains are appbed exchJsivety lo chartabl• wwjses. 1.5 T•ngllJl• fixèd a55•ts and depro¢ialion Tangiblè fixed 055ets iThts*ly rec(¥Jnised at cost. After recogn1h. under the cost model tangible fixed assets are measwed at CD51 le55 acCwn1ed depreciati(Jn and ar)y aCnlIated inparrmenl 10s5es. Al costs irKurred ¢0 tm.ng a [anble ffixed •ssel into its intended condition $hould be ded in the mea%w•ml olcosL Page 20
SME ACRE NOTES TO THE FINANCIAL STATEIAENTS FOR THE YEAR ENOEO 31 IIARCH 2021 Aceountlng pollcl•s {Cnued) 1.5 TJnglbl• fi%ed Sets and deryeclatlon <¢tinued1 Depre¢ialion is dr9ed so as to thxate Ihe cost ol fixed assets less trir os'hlual valu• over the e5twnated useful li Oeprloation 1$ prtrded on the foltring tsases.. Loniemi leasehold wopeity . over the ollthe lease Shcrt4erm leaseh(Ad propwty - 10% Straight Motor ¥ehKles - 20% on reduung l)alan Fixtures and fitb'ngs - at ¥aryin9 rale5 on c051 Cornputer equfrpment - 25% on redwng balan Depreualion has not been pr0¥7ded in respect ol freehohl property rs held 11h Style Acre Tradg kn"miled 15ubsidiary c(wnpany). The GfOUP adopls a polw ol lully maintaining its buildings and a5 svch Ihe residual value is so high and Ihe expected usehA lrfe is so lon9, thal the depre¢iation drge would t¢ immaterTral both in temis ofthe depyecth cxwged for the year and the cumulative dwge lo Il she¢L The I"n9S are l•leWed anN for any signs Qllmp•imrf by the tru5tee> Items induded in fixed assels are cwtd thknere the purchase ¢ts ex¢eeds £l.OOQ. where the expendrture 15 ¢knned to athj to Ihe market Val ofts pmperty. 1.6 Inves1nlS Fixed assel in¥estments a a fom ol fr•JnrJal instnjment and are ini111V recognised at their Iransaction ¢ost and subsequenty measwed at lalr vue at the Balance slet dale. unle55 the vatue ¢annol be measured Felmbly in case it 15 measured at C05t less Impalmnt. Investment gain5 and losse5. whether reIsed or unrea&sed. a combu)ed wesenied as 'Gansl{Lossesl on veslmenls. in Ihe ce50041t ¥atefflent ol ffinantsal adiifjtses. InveStmts 5ubs¥Jws ¥e Valued at cost less p510n for impairnwrt. 1.7 Cash at bank and In hand Cash at bank arnl in hand indvde5 cash th. 1A Llabillties and provisions Liabihts"e5 are recr8nised there 15 an 014i9akn al Ihe Balan¢e sheet date as a rtsult ol a past evenl. li is Probae that • transfer of e¢onMii¢ benefrt vhl be required in seillment. and the amounl ollhe 5elYemeni ¢an be estimated 181y. 1.9 Flnan¢ial Instrum•nls The (xty has fmoal assets and ffinancKal lbifth'¥ of a kind lh qualify as basic finanaal str(Ment Basi¢ financial Inslrnfflts e wdbally fecowised at transaclm vakn and SL*J5equrnUy measured at their seillement ¥Ue. 1.10 0ratIng1•aS•s Renla15 pald wder op•rnlthig knes chryd to the Consc4dated statement of financiol aclivities on a slraight line basi$ ovw the lease term: P•4e 21
STYLE ACRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR EIIOEO 31 IAARCH 2021 A¢¢wnUng pollci•s {¢onYnuedl 1.11 Pensions The Grwp uppAes a defined contrulion penth xheffle the pension Charge rwesents th• amounls poyawe by the Gro to Ihe fvnd in Tespect ol Ihe year. 1.12 FUMI aec¢)unlkng Genw lknd$ a wnrestrlÉd fvnd5 we avabte for use at the discreti ¢1 the Tru$tee5 In fwtherance ol the 014eGlive5 gl the wti¥ have nDt been designaled for olher rposes. Designated IS comprise reStriC1ed Jnd5 Ihal ha¥e been S aside by Ihe Twstees lor partthar Ixirp05es. The aim and use of each designaled lund is set out in the noies to the financlal staiemenls. Restricted ld$ we ldS vknirh We to be used in accordwKe ¥thlh speufic ie5trictW5 imposed by donor5 or ¥thKh have been Msed by Ihe Group f¢Y parivjar puwposes. The ros15 of raising and dmrnlsiering fvryl$ charged apns¢ the y¢ific tund. The wm us ol e•¢h re$lricied fvn(l 1$ $et ¢yJt in Ihe note5 lo Ihe statements. Investmenl income. gains and losses are alocaled apww.ats nd. 1.13 In kind ft119 I support The charity beneffit5 frINn the ser¥es of ¥ohJnteets spend many hjr5 managing the charity. The truslee5 we of Ihe thèt the ¥¢Jnieets' 5eNce5 a not reasonably quantifBble or measurable and tpthefore no fast Is rewe5enled in tr frnanaal slatemenls. Clftlcal accounlthg Mdmat•s and ar•as otjudgmenl Estimates and judgments are contrnaly evaluaied are based on historical eyrienct and oth faclors. expectation5 of futUFe events Ihal are befjeved to be reasonable under the circumslwce$. Crittcal aOUnting eslirnates and jmPl1w'. In the appticabDn ol the Charitys accou1n9 poliies. the Trustees are quired to make judgments. e51imales and a55Lwnptron5 aboLrt Ihe ¢arrywb3 arno1 ol a55ets and liaLwfths noi readily apparenl frorn other 50wces. Thè tsts"mates and a55(Kiaied 35sumpt1(s are based on hislorica experience and other rathirs Ihal are Congdea to be rnIel Aaual $Lt5 rnay dflerfrom these e5Male The Charity makes eskn"males and assumplions concemiry th2 fLrture. The re5vlb.ng a¢¢ounts'ng estimates and a55umptions wll, by definition. sddorn equal the rfated actual results. The estimates and assumptions that have a swificanl risk of causing a mattsTral adjustrn¢nt lo Ihe carying arnnts of assets and liablD"e$ thE nexl fThrKial yearare tscussed below. The mosl 5yficant esitrnates arAI assumptions thMch affed the ¢arryMw am(wnt ol each assets and liabdities in Ihe accounts relates to depreciab 1$ ered in note 1.5. Pa9è 22
SME ACRE NOTES TO THE FINANCIAL 5TATEIAJEMTS FOR THE YEAR EPIDED 31 MARCH 2021 Intome from dtywllons and leuacles Restrictsd Unr¢strl¢t•d nds 2021 Tot•1 funds 2021 Total funds 2020 2021 Oonatlong and unoskn.cled dmaliry Vehicle appeal Work develow1 Garden projec communi11$ yoiect 8anbwy Day apportlI[e$- Btg Loltery Suppcrfted Li"n9 SA8Re reveNe Soc4al enierprfses Camvj Careers SODC T2 Day Opportunhtses- General Corona¥irn$ Jab Reten¢w Stheme oth Corona¥irus 9rants Ways lo Wdlnes5 192.652 192.6S2 soo 21.280 12.440 159.347 21.305 23.250 31,7SO 5224 23.000 500 28.2SO 12.440 9.000 6.300 6,300 11.745 3.962 10.390 5.000 10.000 46.198 10.39D s.00 10.000 46.198 123,913 299,249 15.585 15.000 5,679 123.913 29.814 269.435 15,585 Total donations and grants 413.098 346.379 759.477 300,262 Totsl 2021 413.098 346,379 759,477 300.262 In 2020 in¢Mie ol E140.915 restrKted anil £159.347 unrestricted. Page 23
STYLE ACRE NOTES TO THE FINAt4ClAL STATEMENTS FOR THE YEAR ENDEO 31 MARCH 2021 Vnrn51rfGt•d fvnds 2021 Totsl funds 2•21 Tctsl ds 2020 SUprt fees Opportuntties i¢ome 7.473.770 1.247.664 7.473.770 1,247.614 6.264.535 1.450,599 Tolal 2021 8.721.434 .721.434 7.715.134 In 202D total Norne 01 £7.715,134 was unreslncled. Invesbn¢nt Income ilnr•slrlct•d funds 2021 Total lund$ 2021 Total I$ 2020 Oividends frcm fixed asset in¥e5tments Bank intefesl receivat48 18.702 18.702 186 18,120 1,053 Total 2021 18.888 18M88 19,173 In 202Q tolal income of £19.173 VAS uNestricted. Oth•r Incomlng rnsources Ilnr•stric¢ed funds 2021 Tot•1 lunds Z021 Tolal funds 2020 Other Incl 78.S18 121,S42 71.518 121,542 70.308 295.991 Trad9 incon Total 2021 200.060 200,060 366.299 In 2020 tolal incoff* 01 £366.Z99 was unrestrid Page 24
STYLE ACRE NOTE5 TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 MARCH 2021 Expendllure on rnlslng funds Ral$lng funds Unrnstslct•d fund5 Totsl fvndg 2021 Totsl fund5 2020 Gweral expenses Staff cosls 7.681 42,141 12,346 47.375 42.141 Total 2021 49.822 49.q22 59,721 In 2020 lotal e¥penth'lurn 01 £59.721 was uryestricled. Analysls of expenditure on chafltsblè a¢tfr¥ities Summary by lund type R•sIriCt Unrnstrl¢t•d fund5 funds 2021 2021 Totsi ld5 2021 Total nd$ 2020 SuFVOrt Opportunitye5 172.292 228.360 7.218.869 1.280,179 7.391.161 1.508.53• 6.527,905 1,819,927 Total 2D21 400,6S2 8.499.048 •,¥99.700 ,347,a32 In 2020 total exp¢ndilwe 01£181.051 was rtstrkted. Page 25
SPILE ACRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOEO 31 IAARCH 2021 General Go¥•manc• costs 2021 Tot•1 funds 2021 Total fund5 2020 2021 Support apportle$ 7.381,883 1.501.220 9.278 7.319 7.391.161 1.$00.539 6,527.905 1.819.927 Total 21121 8,883.103 16.$97 .899.700 8,347.832 Tolal 2020 8,336,291 11.541 .347,632 Analysls ol Ovect costs Total lund5 2021 Total fund5 2020 Support Opporliinllle5 2021 Siaff St$ PmiseS Compuler optraling c0515 Profesgonal fee5 Moior expenses General expenses Purchase5 DeP18110n Loss on di5p)sal olt•l9il* fixed assets Bank charye$ 0.798.014 48,713 86,366 75,760 61.349 276.741 1.014.436 190.978 21.592 18.095 108,680 83.773 12,947 47.435 388 1896 7.112.450 239,fj91 107.960 955$ 170.029 360.514 12,947 76.772 1.942 7,Z70,464 261.263 57,900 69,157 200.457 312,363 73.016 73.130 8.881 29.337 1.554 4.047 T¢xal 2021 7.381.883 1.501.220 1,813.103 8.336,291 Total 202LI 6.520.340 1,815,951 .336.291 Pagv 26
STYLE ACRE NOTÉS TO THE HHANCIAL STATEMENTS FOR THE YEAR EIIDED 31 IIARCH 2021 Analysis of •xpenthth by activili•s {rontlnuodJ Aty515 af9ovem4n¢e ¢O*s Totsl lunds 2021 Total funds 2020 Support OpportunllF•s 2021 2021 Audittxs rernuneralton Auditor5 Temution- non aultht lee$ 7.200 2.078 6.8OD 519 14.0110 2,597 9.235 2,306 Totsl 2021 9,278 7.319 16.597 11.541 Total 2020 7.$65 3.976 st4ff cosls Group 2021 Group 2020 Chartty 2D21 Charity 2020 Ww5 and 50 Sao'al securty costs Conlributicffl lo defrd pen&on sthemes 7.121455 S29.794 6.683.635 435,707 7.021.393 524.68Z ,524,139 435,707 201342 198.497 199,590 198,497 7.8S4.591 7.317.839 7.74S.665 7,158,343 The average nurnbw ofofficer5 al ptr50ns employed ty the Charity durir4J the yearwas as fdlows: Gn>up 2021 Growj 2020 charlty 2021 No. Charity 2020 No. Adminiqtration Support Opportunilies Tr4din9 27 231 74 27 231 74 291 63 405 354 313 332 Pa9• 27
STYLE ACRE NOTES TO THE FINANCWL sfATeMENTS FOR THE YEAR ENOEO 31 IAARCH 2021 Stsff ¢0sts l¢onllnued The nL¥rer ol •ryJees V•lMe emF4oiw ben (e¥ckth'ng emph)pr ps1on costs) exceed1 E60,OOOwas'. Grwp 2021 Group 2020 No. In the £80.001- £70.000 In the band t70.001 - £80.000 In the ts £90,001- £IOQ,000 In the band £100,001- £110.000 Agency costs tenwary slaff yearamounled to £156.07212020'. £847,365). Rembneration touhng £234.174 12020.. £240.524) p* lo key man8gement Fernonnef during the year ended 31 March 2021. 11. Tntste•s' reM•tion oxp•ws Duiin9 thE yt•. np Tw5tees reced wy Mrat¥ or (ther bfi(lo2O. £NILI. Ouring Ihe ytar ended 31 kl¥th 2021. noTnth• expenses have been inwrred {2020- £NILI. P•ge 28
STYLE ACRE NOTES TO THE FINANCIAL STATaiENTS FOR THE YEAR ENDED 31 IAARGH 2021 11 T•nglbl• fix¢d OS*s Short. Flxturns Fr••hold •$+¥1 lusqhold otor •nd Compuler operty pvopeity p¥op•rty v•hicl•s rrtings •quipmwnt Total Cosi or valuatlon At 1 2020 1.361.636 155,620 16223 80.774 45S.490 13&548 10.650 121.4941 7S,329 2,261,397 16.873 (6.045) 127.SJg1 Adthb"OnS Dlspos At 31 March 2021 1 J61.636 171.843 80.774 444.646 132.548 69.214 2,260.731 At 1 2020 Charge faf the 27.521 71697 26•.9•5 56.662 53327 479,019 15.7•9 8.077 9.171 76.772 (5,309) 125,0951 On thsposas 119,786) At 31 March 2021 43.317 10.774 287,$14 65.133 53.25B 530,696 Net book ¥•lue At 31 2021 1.J61,636 121A26 1S7.132 66.71$ 1fj,1126 1.730.035 At 31 Marth 2020 1.361.636 128.092 .077 186.585 75.886 22.102 1.782,378 Freehold meity relales lo the Ba)bury SLWrt {SA8Rel. Page 29
STYLE ACRE NOTES TO THE FINANCIAL STATEIIENTS FOR THE YEAR ENDED 31 MARCH 21 11 Tang1• fix•d asets IcontsrKwdl Charlty 5•hold fftungs •qulpment Total Cost or ¥aluation Al 1 A¥r 2020 Addibons DSsposa15 155.620 16.223 455.490 10,650 (21h941 10i001 73.254 790.365 26.873 127.539) At 31 Math 2021 171 106.IJOI 67.209 789,699 Depr•elallon At 1 Apn'l 2020 Chargt forlhe year On disposals 27.$2• 14719 905 39.421 S17 51.809 4177 IS.309) 387,683 65.870 125,0951 31,395 119.7861 At 31 March 2021 43.317 287,514 4&931 51.677 428.446 Nét book ¥alu• At 31 Mafch 2021 121.526 157.132 fj11.063 15.532 361.253 Al 31 March 2020 128.092 106.585 66.580 21.445 402,702 Pa9e 30
MOTES TO THE FINANCIAL STATEIAEHTS FOR THE YEAR EIIDEO 31 MARCH 2021 13. Flxtd awt Inv•$¢ments Llsted Imiestmonls Group Ct or valuation At 1 Aprl 2020 Athillions Revaluatm 492.004 250.000 67,120 At 31 Marth 2021 109,924 Nei book ¥alu• At31 Marth 2021 109,924 Al 31 Iharch 2020 492,804 The Gr)st of h"Sled inyeslmerts is E67fj.36812020'. £426.3661. in wb5idlary Li5t•(I coffipanles Inv*51ments Total Charty Cot or valu•li At 1 April 2020 Addrf1S RoI10S 400,002 492.104 250.000 67.120 892.B06 250,000 67,120 At 31 Marth 2021 40D.002 809.924 1.209,926 N•t book valu• At 31 M•rth 2021 400,IK12 809.924 1,209.926 At 31 March 2020 400.IJ02 492.804 B93,806 Page 31
STYLE ACRE NOTES TO THE FIIIANCIAL STATEMENTS FOR THE YEAR EMOED 31 IIARCH 2021 13. Flx•d ass•t In¥¢m•$ {¢ontinwd) Prlnc5pal subsl(Uarf•s The fo11n9 was a s(b¥diary ofthe Ch•ity.' Nam• ¢¢mpkny Reptwed offic• or yinclyl Princlp•l ictlvlty pknce ofbuslness st Acre Tfadwig Lrmed 0743n03 l Londm SireeL Readvw. 8wk51xre. RG1 4PN Lthard services, operalian of a charity op and tea ruom Class of Hol(Ing $horos Included in ctyTrolldatlDn Or(thnary. 100% Yes The ffflancial re5tts ofihe sub51th for the >ar Name ProllV{Loss> Nel assets I Surplusl (O•ficltl for th• y•ar Style Aue Trading Lhrmled 45.657 432.844 14. Oebtors Group 2021 Chity 2021 Ch•ity 2020 2020 Oue aft•r m¥• than on• y•ar Amounts owed by group undertakn9S 700.O•0 700.000 700.000 70D,CIJO Due within oTrè yuf TrndÈ debl¢fS Amounts owed by 9fOUP underL*ings Other debl<x5 Prepayments and A¢¢rued in¢¢Th 200.656 155.022 700,656 336.831 127.334 109,10 154,315 332,836 75.339 75.862 133,QBI 133.9D3 78.469 78.531 467.647 312.022 1,473.929 1.338,352 Page 32
STYLE ACRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 14. The amounis by group undwlings fIn9 due after more than one yeaf comprise and amount ol £70D.000 paKI by the tharity lo rts 0ed troding 5ubgdiary, Sryle Acre Twading Lwniled. lor the pUse ol TCh3ng and refUlsh1ry the SA8Re tu"Iding al Bvtcherfs Arr n Banbury. Th• proiect s catsied by Style Acre Trnthr¥J Lin11 a5 1105 Vlas more tax eifKwLt Ihan the thanty d(¥ng SO The buIng ss in acbve use cffitrtsrtes to del¥enry thaiilabje odi¥e5 in the 8anbury area. The amounts paid to Sift Acre TradirJ Limited 10 fin•Ke the projecl are a lo. 4thich wll be rèpayable to the charity in the event of the SA8Re bul¢thn9 bein9 dLsposed ofix rfit ceases to be used to lurther Ihe Charitab obiecbves of the chaiity. The Truslees W7¢ the Oirect¢xs of siWe Aue Trading Limlted ilh a comllmenl Ihat Ihe th•ity will meei the contiNiNJ opwobng cos15 01 the sub5ithary for a period of at lea5112 monlhs from the date of ggnrng the finandal 5ts1ements. and ensure Ihat its h"obili15 aTrS obligatsons lo all pa'e$ outde ol the 9rwJ ¥&il continue lo lje met as they fal due. The iwstees have cm5ider¢d Ylhether Ihe fo fals Lmder the defiimlion ol a financing transatts.oft under FRS 102. Under FRS 102. suth a Iransaction should be staled al it5 present ¥ahJe, measured by any fure PaYml Jiscounted al a markel rate ¢1 inlerest. There are nts dear repayTrent lem15 or lime5cale for the loan.. the tri99er for paYrnent 15 regarded a5 rpmote given the ImpDrtwKe of the build9 to eypJnding the support we offer in Banbury. ACC1ng]y. Ihe Truslees are of the opinivn that the lair value olthe knan 0rt lo be inthded th Ihe ffin4nci statements is rts Orignal rntyry ye. 15. Cr•dltry5: Affl0 faling du• lthln on• ar Group 2021 Group 2020 Charity 2021 Charity 2020 Trade frnlilcn Corpornlion ta¥ Other taxatim and security Olher creditors AcfJuals and deferred income $1.B59 122.567 1.635 118.74D 33,648 372,003 47.732 133.922 37.433 351.971 132.038 37.433 342.37 111.542 33.648 361,508 1.021 648,593 $59.581 625,B10 Page 33
at a•lrw Ji ¥•rth ILO•ÈI 15 .12D I32.J2> YO.361 144,9 YDO.O 26S.921 6OD,000 SABReffJwlw 141A52 sAeRebJiklw FrKÈda5seis rep&ceffthi 4M> 134S.ISI 67.11 1 J23,511 (ty31 (MJ,121) 9216,7$1 67,12(+ &•64J26 Pry•Y
Irml 31 Vehth*¥pe T2 ••pEiI 22JO6 81,3 14131 Iwjoi 3M17 37M5T 317# 7J37 &osi {1,39SJ 1723 4741 fl7•5 SODC T2 Fwth9 iO.Dor• 14x1 I$• 12W76> 13.•59 Welnes5 4915 2•¥.Yl$ 411•91 IlW$2J 22ZAJI 1475,54J I4.9492 15,MJl 67.12 ).7,151
STYLE ACRE NOTES TO THE FINANCIAL 5TATE&IENTS FOR THE YEAR EMOED J1 IAARCH 2021 1& Stslom•nt of (und5 Iconlinuedl Stat•ment ol lunds . prior year Balance at 31 March 2020 Transler5 ir41oul Gainsl (Losses) 1 Apnl 2019 In¢(wr* ExperKlitLffe Unrestricted funts Deslgmled lunds Des'gnaled reyaluabon lurxl 83.640 {18.437) 65.203 SABRe fvnd Hoh'day horne SABRe I11rj toan 50.174 150.000 17.917 68,091 147,492 12.SQ81 700.000 700,1)00 Fixed Jssels replacerrEn¢ 301.416 137.0441 264,372 1,285.230 (2.508) 119.1271 {10,437) 1.245,158 Genernl ld General fund 967,151 8259.953 (8.241,018) 52.953 {18.439) 1.020,600 Total Unrestrfcted funds 2.252.381 1259.953 (8243,526) 33.826 (36.876) 2,265.758
STYLE ACRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 IIARCH 2021 1& Slatement ol fvnds (¢on¢lnu•d) Balare at 31 Marth 2020 6alance at 1 Apnl 2019 TTrn51ts5 ir0( Gainsl ILossesl Income ExperKliture R•5tr1cted funds Sen%xy a rebound theopy Vehicles appeal T2 Appeal IT- TeChrl09Y ILY Irthpendwwe Wo developfflent Day Q)putunities- Portacab Garden projects ComrnunicaticS project Banbury Day Opportun¢ties Lottery) Supported LIng SABRe re¥enue runding Social ent¢rpri5e5 Caring Careers SODC T2 Funding Day Opwlunllles- General Others 3.754 11.823 77.071 11.4851 15.7461 (122461 2269 27.382 64.831 21.305 (215) 78,526 23.250 166.397) 35.379 5,417 22,561 (1.000) 114.603) 4,417 39,708 31.750 4.893 5.224 12.780) 7.337 7.738 7,159 23,000 (25.68n 14.556) 5,051 2.603 11.745 (11.745) 5,000 3.562 {214) (13.593) 3,748 4407 20.IXJO 15.000 {15.000) 310 4.802 5.679 (4.81 1886) 1,091 3,916 249.921 140.915 1181.051 209.785 Tolal Of lunds 2.$02.302 8,400.868 {8.424.577) 33.826 {36.876) 2,475.543 Page 37
STYLE ACRE
NOTES TO THE FINANCIAL STATEIIENTS
FOR THE YEAR ENDED 31 MARCH 2021
ststem•nt of fund% {ct)ntinu•db
Purpo#e of de4nated lunds:
Designated revaluatlon fiMMI
The revaluation reserve fvrxl is required by the C¢)Mw Act 2006 ¥nd reFvesents the amwnt ty thich
inve5tmen15 exceed or fao 5hurt of hisiorical cosi
Designated fwM15- SA8Re slnking fimd
Thi5 desgnaled fvnd 15 10 Ffo¥ide lor tutUTe repr$ arrd maintenarKE at the SABRe buildin9 in 8anbury.
vthich are received as part ollhe aid donalw>) of Stye kne Tradfftg Limrted di5tritwlable wofits.
DeslgThat•d funds - Hollday home
The lunds are des9n3ted to probryde a perftwnenl smal holthy home or ¢atavan ailThY our 5eryice
115ers, tho may requife high levels of wnts.nwbg support¥u"15t Ilw ar¢ way frfn h(The. to take a break
in a seM
sr¢LE ACRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR EIIDED 31 MARCH 2021 16. Stst•m•nt olfunds (conliNdl T7 pal l¢onUnue Furth restricted lo the deSne refvrbishment ol the t1rj at Tt ha% been ufylised ar rApitalr5ed as lan't4e fixed assels and are being aM0sed w mal¢h tr depre¢iation charye the financial statefflenls. £7.84412020: £7.844). "IT- T•chnolo9y for Indendence These fvnds have been used io acquire te¢Mokngy lor thtr use of the pe 5UPPOrt. The ryoiect awns lo assess indNtduals to enrich th•r kves and increase dePender tlwh the use of technolo. Funds utilised and caprt&i5ed a5 tangt4e fixed asse15 are belng arnortised io maich the depreciation charge the ffinanaal siaiemenis. £16212020.. £215). Work d•¥•l¢)pmsnt These funds we vsed luryj skff 5alwies relatwig ¢0 the de¥ebJpmenl protyamme Day OppDrtunit5es- Portacabln These fund5 are in respeci ol ? Portacabin that ISdoated fof use bylhe thairty. The market ol the Ptyiaeyn has been captaliged as lan9ible fixed assets and are bein9 amorty.sed lo match deyeciaty' charge lry the finanoal sLitements, £1,CQO12020." 1.000). Gavden projects These fwtd5 are in respect of garden wopcts and garden rfevelcpments. This Indudes the community garden proje¢l in Wantage. gwdening projecis al Ihe day opportunity hubs ty wthin the 5UPPOrted Imng houses and the development of a r19aleTh al our SUPpd Ir•W wpety in Bantwjy. In addrtion. Ihe funds have been ublised Io fede¥ekp tht 9atden at Henley Property to loW Ihe people we 5UPPQrt to access their garden and provmle a sale senscry space for them lo enjoy. Funds utilised lo date and caylalised as tangit4e flxed assets are bery amorti$ed io rnatth Ihe deprecialion In the finanual statsments. £2.02412020.' £. Communitations projKt These funds are in respe¢t olequpment to wd cofflTrwrKatiM conkn.nue to be ulikn'sed. Funds utih'sed lo date ané cawhsed as IarwJie fixed asse¢s are W amorlised to m*h the deprec6aiion tharge in Ihe fmanciat stalernen15. £1,25312020.' £1.351). 8anbury Day OpportunllO•s 1819 Lottery) These ld5 are in respe¢l of a grant from ihe Big Laitery to kn¢J roles at the day OFVOrtuntty huty in Banbury. Supported Livlng The lunds held at 31 2021 ¥•ll b• ¥Jsed to fund ¢qUifAnent for use 1h the 5LVPOrted li hse$. Funds utthsed and ca1a.5ed as tarwjible fixed assets are zrnrwtysed lo malch the depTe¢ialw Ltharge in the ffnanctal slatements, £26712020.. £356). 5ABRe revenue fvnding These lund5 have been raised to supwt the cosls ol ddivtsn9 ser¥ices at our Banlxry day oppOrtlty b. S1•1 enterpriJ•s The fvnds were ra5ed to fund the pwrthase ofitems for use at our Tea Room in Blewry and the charity shop in Wallin9lord. Whore donalians are reCeId lrywards capital eqL•menL the fvnd5 are arnortised to malth the depra"on tharge in Ihe financial siaiements. £39612020: £2141. Page 39
SThLÉ ACRE NOTES TO THE FINANCIAL STATEMEMTS FOR THE YEAR EIIDED 31 IAARCH 2021 t& Stslemeftt ol funds lconlinwd Caring C•reerg These have been raised lo slaff costs ror a COllOTdinaior to firKI placements for a1$ ih leaming "r1$ in 50(ial care. SODC Tl FwidiNJ These funds used to rv4enue $ts ofdehvering seryices at T2, ¢wfydcol day hub. Day Opportttl•s- G•nernl These funds have been rased lo (md costs arwj addthl equipment at day apportlE1e5 Coronavirus ndeMk These funds have been received from oxfoShife Cm to support the delNery ol enhan¢¢d infeclion conlfol and inuease vKthrce capacity social care seThices a5 part of the eentral govemmen¢ in response to Ihe COVIt>19 panderTh'c. Ways to W?Ilness These fvnds have been rwed lo support the Ways ¢0 W15 prograrnme vthiGh enable$ the people we supporL wr ¢mthEe$ and lo imprtsve thdr heallh EIbe9. The funds received in respecl ol olher donations are thdts•d in ac¢(dance wlh the donors wlthes. DonalK)ns received towards captal eqpment are bery am+Yti$ed to malch the dèpreciab.on charge in the finanual statements, £1.04412020.' £886). Pa9p 40
- knrnxy Dftsr 31 I1•h 2021 Des¥e0 Generfvnd5 61U25 15W) ¢S1U Q7.1 1,12J.S•l 221251 67.120 A217.t57 Tr1• GAMI 31 Dtiw*d fw 119.12n 118.437) 1245.15B 118.4JS1 1.020.EQD 2Dg.TB5 967.151 749.911 B.2$9J53 11211.Ul81 140315 {lJ1.lJ511 2.502.301 ¥.4ty3.16B IB.424.5TT) 33.126 136.8761 2.475.$43 P•Jp41
STYLE ACRE NOTES TO THE FINANCk4L STATEMENTS FOR THE YEAR ENDeD 31 MARCH 1021 1& Analysls of net assets lthn fw Anatysis of ft•t as$•ts b•trA•eh funds-cwyent y•ar Restrld¢d UnregtriGt•d Total funds 2021 2021 21J21 range fixed o$sets Fixed asset investments 128.843 1.601,192 809,924 1,231,838 {$81.028) 1.730.035 109,924 1.328.221 1511.020) Cuftent assets Crn(h"thrs due Mithin one year 93.3B8 Totsl 222.231 3,064.926 3.217.157 An•ly$ls of net ass•ts bettèn lunds- prtw year Rtted Unre5trided fuThd5 firnds 2020 2020 Total fvnds 2020 Tan9OJle fixed asset5 Fixed asset Investments Current a55ets Creditors due ilhin one year 131.265 1.651.113 492,804 77Q.434 (648.5931 1.782.378 492,804 848,954 1648.5931 78.520 Totsl 209.785 2,265.758 2.475.543 Page 42
NOTES TO THE FINANCIAL STATEAIENTS FOR THE YEAR ENDED 31 IAARCH 2021 R•conclllatSon ol n•1 mov•ffl•nl In lo rnl Ilow operaling actlvltl•s Group 2021 Group 2020 Nel incornelexpendilure fty the year (as per Slalement ol Finala1 ActiMtie$> 111.614 126.759) Adjustments for: Deprecia1 ¢harye Gainslllossesl on inveslmenls Loss on Ihe sale of fixed assets DIendS. interests WKI Mts from knves¢mer Bank cgeS paid Tax charge Deryeaselcinryeasel in detrkn Increasel{decrea¥) in creiklor5 Tax p•d 76,772 {67,1201 1.942 {11.8881 73.130 18,439 8.881 119.1731 9,660 1.635 217.441 140,763 11.0541 {155.6251 165,9301 f1.6351 N•t ¢ash prowld•d by operntlng acll¥lll•s 588.073 422,963 An•fysls of cash and cash Group 2021 Group 2020 Cash in hand 8611.S79 536.932 Totsl cash and e•sh •quival•nts J80.S79 536,932 21. Anatysl$ of ¢harw In net Jebt At 1 Aprll 2020 Cash Ilo At 31110h 2021 Cash at bank and M) harml 536.932 323.647 860.579 536.932 323,H7 860.579 Page 43
SME ACRE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDEO J1 IIARCH 2021
21 Penslofi eommltrnents
The wup opernles a defird contrlyJfion pen5w scheme. The a55e15 of Ihe scheme art held separately
Irom those of the group an iDdependenty administered ftmd. The pengon ¢ost ch9e represent$
C4Mtrl>utiMs payabje by Ihe group lo the knd. Dumg the ye¥ pensiw contsibuliDns charged in the
stattment of Frnancial Admties amjnIS to £202.342 12020.. £198.497J. M the balance sheet date,
outsdl9 contribub.ons arnowls 10 £31.30212020." £26.7851 and are inthded in ¢reditors.
23. 0ratIng l•as• ¢ommlbnents
Al 31 March 2021 Group and the Charity had wnrnrtments to make Ivlure minimum lease payments
Group
2021
Group
2020
Charfty
2D21
Chty
2020
Not laterthJn 1 ye¥
Ler Ihw 1 year and r1 later than 5 yws
Later th 5 iyars
1111.652
66.580
179.417
184.185
139.155
244.945
522.713
216.3
330,337
572.702
177.232
363.602
907.513
1.119,345
24. Related party transa¢ti(w
Some ol the wowties Iw style Aere uses to WOVKle sw>port seThice5 to people wilh leaming
¢Jthculliesldisabililies are ovmed by Acre Hougng formerty kno} a5 Stye Acre Friends. On 1 April 2004
the support actiwties of SW Acre Fiiends were transfeffed lo Sty A¢te.
tring the yearthe foll*rj tran5acbw took plxe between Style Acrè Ae Hou5ing'.
style Acre retharyed adr4nis¢rnlyan cosls tolalhrry £65.275 (2020: £65.275) lo Hr#tsing.
During Ihe ye¥Aue Hrojsing made an unrestricted d