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 Hr￿SE #198 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 $tat•m•rtt of 11 18 19 Ilot•s lo lh• Ilnxol SW•m•nts 20-44 STYLE ACRE REFERENCE ANO ADMINISTRATIVE DETAILS OF THE CHARfrY, TRUSTEES AND AOVIS£RS FOR THE YEAR ENDED 31 IAARCH 2021 Trust•8S MIA R Vernon MrsSANye Mr R Thomlm (reggned 23 Septernber 20211 Mr5 P A Chalrners (resigr￿ 23 Septernt￿ 2021} Mr I C 8oukon Mr K Tibbs Mr P Tovmsend The Tw5tees retiring ty rotatton at the next hmnual Genernl Meeting in accordartt ¥*ilh Ihe Art￿1¢$ 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 ￿giste1*d numb•r 1101626 Registered offlce 1 Lor¥lon SI￿et Reading Be￿ShIre RG14PN ompany secrel•ry Mr5 E S V￿der$fee￿ Execullve m4Mgemont and a(fvke Chrislophef In￿m, cth￿f Exe¢vbve Ben Lanes, Operats"on5 DI￿￿Or. left emthmertt 19 Fetsu¥y 2021 Sarnh Stuart, Finan¢e ￿"[e¢l¢# Followin9 thè yt¥end Rebe¢¢a SpevJhl was appoinied 35 Oper*ions ts'recior*ith 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 K￿510n Chartered A¢¢ovniants and Sfabjtwy Al￿rt 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 F￿1￿ 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 aud￿ed 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 appli￿ble in the UK Republic of Ireland IFRS1021 (effective 1 Jawwy 20191. 08JE¢TIVES AND A¢TivmEs Ch•rit•ble Obiectlves The chari￿5 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 1￿Me$ or in shettered ¢w other accommodation, In partthL¥ bul nol exC￿$￿ety Ihose are %ck. convalescent. disa1￿ed, handtcapped or infffm.. bl the pmwsh1n ol financial asslslante to s￿h pets￿$ arein ￿￿dillOnS 01 fwwicral need. hardship dlstress- c) the support of such per$￿S by emptrwiny to m*e ¢htyces in Ihey stye of li¥in9 arKI to a¢¢e$s fxth'lies in the ¢￿rtr￿Nty. 2. Th¢ adwan¢¢ment of pub&¢ edu¢athon by". a) raising pu￿1¢ avrareness and LThJer5tanthng of leaming difficullre51di5ability." b) yomoling and suppcrfing feseaf¢h knto the ¢auses ol leaming <4fftLdb"e￿dI$￿"ty. Iheir needs and I Chadtsblè Actlvlti•# S￿e Acre supports apwox. 250 adulls with leaming dsabililie5 aub5m aGr055 Oxfryd5hYe. The need5 Ofihe people we suppart range from those requimg 24-hour rare to th05r vtho h¥e more indepEndendy and need a lew hours ol support perwte At Maith 2D21. 114 people are supported by Si>k Arre's SI￿p￿tsd f￿7[¥j cate leams in 35 hou5ehold5. in addition 20 peO￿e wefe supporttd in the cornnwnty. Swrted IKwseholds and Community 5UPl>Yt le￿$ give people the independence to Ilve *th their peers in a safe. ¢omfortable en¥w￿mertl 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 ConfidEr￿e and to 9Pt involved in ihe aclbvilies of th￿r chthce at hubs or fft Ihèir local area Our Work Programme help5 people acce55 paid and ¥￿￿tsry placement5 n I￿al organisatHXls and in our 04bTb s￿1￿1 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• upe￿Ik19 ￿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 ￿ntir￿e 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 Many of our $upwl¢d househohJ5 are home to older or have undertying l*allh condibons lor corn￿*￿ needs. We took every precautth to keep people safe and v*ll al home", in many cases. lockdcNm have I?￿ed knger IN people SUPFte. sociaty diStan￿d and lJ"miled faC￿10- face seNce to supt¥xi the peoplè nofftiamy att*)d cur corMiur4ty hubs, desp¢le having nil acce55 to our buildings in the first lockdo1￿ and bmited access since. W￿k1￿j *)ngSLde our ccffimunity development and Ways to Welkne55 learns. Ihey have crealed a popular prograrnme of online events across the whole chaiity and delivered acb'wty packs lo help pewe connect vAh each other and keep I￿$Y a5 people spent more al home. Support for peopte nornaty altwKI lh¢ commwity hubs Ixrt Ive outsklE of Acre's 5UPPOrted Ipiing has continued thrOugh￿rt the year and has thanged as the re51ricb.ons have ¢han9ed. 11 has inthded regular 1-2-1 socially distanced swptyl and fa¢e- to-facè supwt for sle and ¢omm4Jnicalran tfairring for staff wa5 a150 moved othe. All1￿U9￿ 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 Supp￿led li￿n9 h￿se￿IdS have ￿en able lo ￿mMuniCate vwtual￿ and acces$ svFwt and acb'vilies tythne. SIWe Aere ha5 been unable lo deliver face ￿ face coffjwwnity ft￿lr￿SIllg v4enls Ihls year vthich 15 8 important 50uffe ol ¥olLmtary incorne. W* qi*ckty adapted to a new ￿l￿al 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 ag0*1 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 txcepbN￿lly important Io u5 in a ch&leNJin9 and Lthcertain hjndrnising enwronmenl. WÈ are a150 grateful lo our 47 vdurrteews have suppryted ￿ social er￿￿[l$E5. Wantage Markel Garden and ¢0mm￿lty hub5 ￿efi restriclrons h3¥e al9￿￿, both ￿ tradth.vnal roles bLrt alsoTr new fole$ ￿$￿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 vcknl*er5 ¥tho have become online buddies for people we support. A number ol ¥(￿UnteerS have olso aSSiSled us 9rapts'c design projects. admini51ration and social mei*a. Although th• pandernic has been exCe￿￿41Y chaltthging. one positive aspect has been an increased inlerest joirwng Style Acre, thther as a voknteer ty as a rnem￿r o15taff. We have seen a tig Mi¢rease in staff recruilmenl into Supwrt W¢xker rotes thr￿JghOut 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• s￿pOrt C(￿"natOr ty A$5iStanl Managw le¥d. 69% of our ¢urr•ni Support lA￿agerS h•¥e pre¥itiusly conyleted our Ltadusl¥p De¥•iowneTht Pio9rnmme. Page S STYLE ACRE TRLISTEES. REPORT {CONTINUEO} FOR THE YEAR ENDED 31 MARCH 2021 STRATEGIC REPORT A¢hievement and performance Opernling rww {Gonlmued) In 2020-2021 w¢ FJi5ed lunds for Menlal Health Fwst Awj tranmw, an Wnport￿t step in irnwoYÈry menlal heatth for Ihe people we support and ensurry 51aff are given Ihe best training when supporbn9 people colleagues ilh Iheir mental health. Awareness of menlal health ¢j￿[lenge$ for Staff ha5 becoffje moTe essenbal th•n ever Ihis year and Way5 to Wdkne55 Programme encou￿geS 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 ¢￿t￿￿ed ￿ 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 res￿1 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 I￿rn for a I￿rth tenant in the fvture. In adthbcfi. we oPe￿d a new seryice in Oxford a h)me lor 4 tenants ¥Ath kiw 9￿POrt needs and began pro¥idin9 511PFrtIrt ¥t a S￿Ice 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 add￿c￿ io thw"r12arning disatil￿es. inchJdthi9." Sertsory impam￿nI, dernentia. mental heallh is5ue$ and autism $peclNm disrKder. Access to seTrices 15 via a local avlhority social *Afjrker. care manager relerT*. Of a th.recl referral from the Indi￿d￿al w Ihelr laff4ly. We use our th3nlat4tr fvnds to WDwde additNyBI 5eNces, vtrich are not otherY4ise lunded publicly lo enhance the lives ol peaple wilh disabth"ties. ExaM￿e$ 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 ente￿riSeS Isoc41 enterpri5e5) and also delvets some of lis c*aiTtable obie(tive5. Such 45 work training opportunities. The taxat4e profiis ol Style Acre Trading Limited ¥e doAaled ￿nd￿r 9ift aid io rts parent andlor to the ch￿ty Acre H￿￿n9. 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 W￿￿0U$ 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 Cwrtyn￿eS 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 foreseea￿t 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¢ I￿￿5 aL or ar04md. a vthich enables the ongoing actryib'es ol the charity to be lunded lor a period of awoximatety morths loo￿￿9 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 c*al pendilure w0￿me. ￿l￿vated 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 r*w 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 tr￿1￿1ng to meet Style Aue's futu￿ nttds ai Ho*trry Park. The TrLt5tees con5Kler it aPPTopriale to lomi a desh￿41ed reseNe 01 £600.1X)0 {2020: £r￿j to lund the fulwe ¢osis ol the fitting or and move lo the new t*Jilding. 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 ten￿15. the tenanls m*e ¢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 I￿Ure worts requred on the property. The Tru51ee5 therefore consKler rt mjdent that a $inkin9 fund balan¢e should be hdd asTrde Style kre's reseryes for Iviure wttths that are required. £700.000 loan rnade to Style Aue Trathng fN Ihe purchase and refvrbishment ol the SABRe buildng in Banbury. As oulir*d above, the Trusiees and Ihe d1￿cl￿5 of SW Acfe Trading a￿ agreed thal the tention of Ihe paymenls maile in 2014-15 and 201>16 by Acre *er* as a ¥)aTh raiher than a gift. The loan 15 repoyable by Style Acre Trading to Acre in the event of a disp05al of the bulding. Due lo thè long terni nalU￿ Off￿ loan. Ihe r¢st￿¢S rep￿Se￿Ie￿ by ihe loan debtor •e effecli¥ely illiqtid. Re￿aGement of fixed assels- WTrDSe ofthe we5erve is lo set aside 5ufficienl ￿n￿5 for Ihe replacemert ol assets. particulwty molor ¥elicles. as they ejther lail or become bey(KKJ econonmc repair. The balance des•Jnated ￿ £255.92812020". £264.372) refteds Ihe rffj4acernent ¢04. InvesinJ8nl ptrlKyand obiectr¥es The thaiills inveslrnent pob'cy 15 w ma￿Mise Ihe fvnds avalabje to the tharity to furt￿ the aims ol Ihe charity. It airns lo invtst ￿ funds Ihal ￿ eumcally •id en¥ironmentally swnd. Inveslment income l¢Y the year ended 31 Marth 2021 amounted to £18,B8812020.. £19,173). comprisin9 IllteTe51 receNable of £186 12020.. £1.OS31. and £18.702 12020." £18.1201 from inve￿ed funds. The value of ihe lund be￿ inueased by £67.120 after the addrtion$ 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 no11￿al 5wng wage the Challe￿je ot stsff and vi our Ic etonomy vknich 1$ pr*dorw4lety an area y￿h a¥alalJbE j¢Jb +Jppothrths. lryw ￿eM￿Yment, *Jd relatively hish fwing cosis: 2. The continuing pres5ure5 on puL* ¥endry. tmth the lor¥l aulhtyity f*lry lo adequaiety addoss the financial piessures whith we tsce over stsff costs.. 3. The absence of adewate increase in ore paym￿5 th rerenl year5 and the absen¢e ol any P05itNe inthcation that comrwmsswws address this". 4. A￿3$$e$SMents ol ser¥ice user5. r*eds 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 Opportun￿les. wlwch relies on rnatc￿9 donalion and grant income", 9. The invad ol Ihe ￿goIng COVID-19 CTi5i5 aNJ a5￿￿ated costs. Our fv¢uo plan$ a￿ d¢s¢rkned belDw. stiale9ies tr* manage Ihe risks atthe are.. To have a Cl￿ picture ol Ihe hous*K>ld we we lry¥ig lo ests￿l$h a￿1 the needs t4¥e * seeking to meet vthen planning new 5eryires: To continue to ￿rurt antj ietain the best qualty slaff Ihat can aff￿d. in p*ticular using existKig staff as part ol our recTuilment efftwt.. To involve all opuational managers in h*in9 kn Cor￿￿1 expenditwe or• a9ency staff." C(ryreheny¥e se￿$ ol COV11>19 risk a55essfflents and aCi￿n plans. Fthure plans Dwin9 th¢ ￿ the Trustees re￿eWed thw stFalegy. given the thalEllges fa¢ed and unCerta￿ty 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 imp￿tanCe as Ihe 0¥￿eT ol so many ol the properties where ￿ provide suPp￿t Acre Hous￿9.5 Twu51ees have sel the pro¥i5iDn of ￿ sup￿rted 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 supp￿1 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 cr￿munal ¥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 F￿Ule 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 l*lords ar￿fi￿ 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 tIJ￿1)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 manag￿ent ses*ons are hehl Tntslee updates prowded to ènsure Ihal appropriate and timety dectsims w be made resFXJn5e to an ¢¥er thanging situalion and ￿n￿rOnme￿L Regular manag&meni repthtng aftd c35h flow vtsure Ihat tirftrmation is availablE to 5UPPQrt d￿slon maknn9. STRUCTURE. GOVERIIAMCE AND MANAGEMENT Govemtng do¢um•nt The charity is controlled by its governing do¢ument. a deed of trust ar*d constitutes a ￿rnited company. limited by guarantee. as defned by Ihe CwMe$ Ad 2006. S¢ructure and Managernent S￿e Acre is by a Board of Tmslees, are resp(￿S1￿1e lor the strate9ic direc1M￿ of Ihe dwrity. They employ a Chiel Executive, who. together V4ith th¢ (7perati￿5 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 experIe￿e. 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 an*sis trcffi the Finance Director to erla￿* them lo monilor our financial Position. Reports from Ihe Operatths Thrector, ￿ring opernlional perfornmnce and •nfom*kn"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 drfflculbe￿tt1Sabil￿e$. 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 5tr*eg>c pLan. ensures aw our •Cli￿lIeS 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 kn￿t the peopk ￿port ar)d our staff. Risk managem•nt The Tru5lees hab* a duty to k1enirfy and review the wiskn to ch*ity is exposed and to ensure *ppmpftate ¢¢ntrol$ are In *ce to WOVKle reasonable asswance agwnst fraud and error. The Cts"el E*ecuD¥e is responsible lor undertakn.ng an anrwal r￿ asses$men¢ oll*Le chanty and for drawing up a risk manage￿￿￿1 plan lor the 8oarif5 a￿0Val. V4he￿ver 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 apPe￿e 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 rn￿n￿n 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 S￿d￿ds (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 s￿￿U5 or defj¢it ol the compwy lor 1hèt pewitid. In preparin9 those find￿[31 S￿eMentS. the In￿lee5 are reqUI￿d to.. sdect $￿table accounling Oicies and then ap￿Y thttn cMsi4lMUy obseThe the methods and princWe5 in Ihe Charitie5 SORP: make judgell*nts and e5tim•tes that are Teasonai4E and wudent state whether a￿1¢0b￿ acC￿n￿9 513ndaa15 ha¥e bren fol(y**d. subj'ect to any maierial depanurts disclosed and exp1wr￿d 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￿ resp0fts￿e for keepry a(xounkn9 le¢￿0S vA*¢h disdose vAth leas￿￿ble accurncy at any tiffE Ihe financi￿ pos￿.￿n of the company and to enable them lo ensvre thai Ihe fiftH￿la1 51aiemenls comply with Ihe Companies Act 2006. They are ￿s0 ￿Spon￿ble fof safe9uarding the a$sets ¢fthe ¢ompany and hence for laking reasonable steps for the p￿VentIOn and delec1b￿ of fraud and olher iiiewknt*. The truslees •o reSp¢￿thIe for m￿lenanCe and integrfty of the co￿orate and fiftan¢ial information inclLvJed on Ihe chariti￿1e 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. b*ng 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 01￿￿d tt> as a director in order to rnake thèmselves awa￿ of any rdewani a￿j11 wifmlson and io esiablish that the aud*or is awa￿ of that Info￿allOn. 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 rneet￿g 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 C￿5¢4￿ted 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 poltc*s. The finanaal reporting framethrfk Ihat has been apFA*d in thwr preparation is appkatle law and Urmied ￿ngdorn Accwnts"0g Slandards. indLtding FinaTrual Repothg SL￿dard 102 'The Finanoal Reponry Standard apr*at4e ¥n the UK and Repubfic of Ireland. (Lthiled Ksngdorn Gen•￿ty Acceoed AcCour￿"n4 Praclicel. In optnion the fmcial stalw1￿ give a true arHI f￿1 Mew olthe slate of the &w's of Its pa￿ll chantable ¢ompanYs affairs a5 al 31 Marth 2021 and of the Grwp'5 incr￿1n9 re%￿r¢e5 and applical'on of ￿$0￿￿e$. induthnj its Income and •xpenditure for the y*ar then ¢nded: have been property Fxepared in acCOrtan￿ *ilh Uniled King(hJm G¢neraly Accepled Accounting PraclKe.' and have been ￿ePa￿d thi accordarte the fwmrements ol ￿ Compan￿9 Ad 201A and the Charitses Ac12011. 8asls lor oplnlon WE cunduGlrd our audit in accord￿re Inlemalimal StsThlard5 ￿ Auditing IUIQ (ISAS IUKII and appbcaWe law. Our 1esponsilx.￿ties urthr thD5e standards are further described *? the AudW5 respons*ilitie$ 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. ¥￿ h￿e 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 ma*rial 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 Ol￿r than the fin￿£￿¥1 staiements *KI our ALvJittk5 Report The Tntsiees afe resp￿S1￿Ae 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 State￿nts Ihernsel¥e& 11. based (m the work 44t have perfom*d. ¢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 fina￿111 lor *hich the ffinarKial st*ment$ are Prepared 15 consistent Wi the tharTial staternenls. the Trt￿te*s. Repth has beffi wepared in accanlanGe *ith applKatrle18gal w*remffrt5. matte￿ on Thl*h we are vequlred to report by excep In Ihe Itghl ol our knuAedge and Ur￿￿tandIng ol the charilabk company and it5 en¥ironmenl obt*Md 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 CLInpan￿5 Act 20C6 requwes us to report lo you il, in wr opinion.. tl* parent tharitalAe conV￿Y 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 fina￿￿al staiements are Thji in agreementwrth the accounting records and reium5.' or certa"n dtsclosurès of Tru5tEe5' remuneration spètified by law ¥e r￿l rnade,. or VIP have nDt received all the inlom)alion and ewanations for our audit.. ¢x the Tw51ees not •ntsVed to prepare Ihe fmancial 5tal*rnenls in accordance ¥Ath Ihe small companies regwne and tske ad¥ar)lage ol Comp￿1*5, 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 ￿na￿JaI statements that are free from material mis51alernenL *thelher thje to fraud or In prepatywj Ihè financial slalernents: Ihe Twstees we resp￿S1b1e lor asse55ing the C*oup¥ and the Pa￿nI 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•it*e 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 T*thether 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 at￿rdance *i¢h ISA5 IUKI wll *ways deted a ma￿rtaI mis5tatemefii vthen il e￿5t5. Misslalements can arise frum fraud or *rrDr and are ¢onsidered moter￿1 rf, Inth￿￿￿O1Y tsr in the J99regale, tt*y reasortabty be expecled lo influen¢e the ec￿0￿1¢ detisions ol users taken on the basis tsf Ihese fina￿la1 statements. Because of the inherent ol an thwt is a iisk tr￿1 w41 deted al bwukrfties. th￿Ud￿g Ih05e leading io a mateiial misslaternent in the financiaf statements or non-compliance tmth re9ulatlDn. Thls risk increases the more Ihat cOm￿nCe a law ty re9￿ation 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 wrryAarii*5 oc￿nIng due to fra￿1 ralhew ¢han eThor. as frwd invclve5 inienb.onal ¢M¢e4lmerL ftygery. co]ktsi(m. tyrmsson ornmyewesentalirm. The specific procedures for ttM5 engagemeni tha¢ we ¢Jest9r*d and perf0m￿l lo detect material rnlsslalements in respecl of irreguL￿tIes. In¢￿ing fraud. werè as loNM: Enquiry ol managemen¢ aThl those thwged vlth govemm around actual potential ￿kn9a￿On ar# clairns: Enquiry ol managemenl and iIK>se th¥ged vAh 9Dvemance to ider￿fy arry matwial inslances of non Com￿lance law5 and regulaliMs,' Reviewing financi* stale1r￿t disdogJres and lestuig to supwling doCuMwtst￿ io assèss ¢￿p￿anCe *ith appl¢able law5 and regulalTron5'. Perfofming awfr't work to address risk ol irro￿th￿t￿ due to fflanagem￿t ove￿ide ol eontydg. includin9 testing ol journal entsies and other adjuslment5 for appYoFwwteness. e¥aluatwwJ the bussne5$ ratiunale of signtficant transact￿5 Ujtslde the nrxmal ¢wrse ol I￿sineSS 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.thu￿ovSle$p0n￿bthèS. 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 th*itable cryanfs Mem1￿S. 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) RegUla1￿3nS 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 PU￿Se. To Ihe lullest extent pernNtted by law. VR do nol a￿ePt or assume responsibl￿ty 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 I￿nIor statutory a￿￿￿or1 for and an behaff of James Gov•p•f Krnslon Chartefed ACcoun￿nts and Stalulory Reading ￿idge House Gecige St￿1 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 l￿d$ 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 Incrn nel g•inslll0￿4s) on snveslrnenls 400,65Z 8.54a.07¢ 8.949,522 8,407.553 12,446 737,891 750.337 (6,6851 gains111os￿5I Mwestynehts Net incom•l(expendilwel befor• taxation 67,120 67.120 (18.439) 12.446 805.011 817.457 P5,124) (1,6351 Tax wofft ofsthrfliary 1S.0431 15,•431 12.446 Met movom•nt In funds 799,160 811,614 126,759 Reconclllauon of lunds: Total funds broughl forywar Nel rnovement in funds 209.785 12M46 1265.758 799.161 2.475,543 2.S02.302 (26,759) Tolal lunds canl•d lor*A 224231 3,064,926 3.287.157 2.475,543 Page 16 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 fin￿tial 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 fa￿l¥j due vth one year 15 1559.S811 {625.8101 N*t 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 u￿eStriC1ed 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 stateff￿lS apwo¥ed authonsed lor issue ty thE Tn￿lee5 and S￿rted on they bEhalf ty.. rARV•mon Date: 25 hl. The n¢xe5 on paye5 20 k> 44 fo￿ part of these f￿￿￿la1 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 Ope￿11￿9 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 fina￿1￿9 •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 sLi1￿ents 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 state￿￿1$ hav* been prepared in acetydance the Charitse5 SORP IFRS 102) - Accwnts"ng and Rwting by Charit*s' 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. A￿e meels Ihe dethtbon ol a pubk benefrt thitrty under FAS 1Q2. A55ets and Isabilties are ithally recowised al hL￿or￿1 cosl w tronsaclbw ￿￿e ￿lesS ststed ￿ the ￿leVant accouniry polry. The C•nsdtdaied Statement ol f￿￿rial 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 c￿50￿dated on a kne by hne bas The ch￿.￿ ha5 taken adwlage ol the ala*td undef seeknffi 408 of Ihe Comparn'es Act 20C6 and has not preyerrted its SAaterntnt olffinancial •cbvths in these finandal slaterw*ts. 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 an￿u￿ ol I￿orne receivth can be ffleasu￿ le￿al￿. 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 o*lioTr 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. Sha￿d 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$istentwlh Ihe use of reS￿￿e5. Central staff costs *oted ￿ the b•sis of tim• spent, and depreciabon thaTg*5 alk>cated M the WJIti￿ of the ossefs us¢. Ex￿ndIll￿ on Msin9 ￿r￿J$ Intludo5 al expwKthlwe by tre Group to rabse IL￿dS 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 I￿ther Ihe Group's obiecb"ves. as well as any associated suppyl costs. AM experKMwe is of irrecoverable VAT. 1.4 Taxalio Th¢ Charity 15 c0n5K1e￿d 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 cO￿tim 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 acCwn￿1ed depreciati(Jn and ar)y aC￿n￿lIated inparrmenl 10s5es. Al costs irKurred ¢0 tm.ng a [an￿ble ffixed •ssel into its intended condition $hould be ded in the mea%w•m￿l olcosL Page 20 SME ACRE NOTES TO THE FINANCIAL STATEIAENTS FOR THE YEAR ENOEO 31 IIARCH 2021 Aceountlng pollcl•s {C￿￿nued) 1.5 TJnglbl• fi%ed ￿Sets and deryeclatlon <¢￿tinued1 Depre¢ialion is d￿r9ed so as to thxate Ihe cost ol fixed assets less tr*ir os'hlual valu• over the* e5twnated useful li Oeprloation 1$ prtr￿ded on the foltr*ing tsases.. Lon*iemi 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 Trad￿g 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 d￿rge 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•im￿rf by the tru5tee> Items induded in fixed assels are cw*td thknere the purchase ¢ts￿ ex¢eeds £l.OOQ. where the expendrture 15 ¢knned to athj to Ihe market Val￿ ofts pmperty. 1.6 Inves1n￿lS Fixed assel in¥estments a￿ a fom ol fr•JnrJal instnjment and are ini11￿1V recognised at their Iransaction ¢ost and subsequenty measwed at lalr v*ue at the Balance sl*et dale. unle55 the vatue ¢annol be measured Felmbly in case it 15 measured at C05t less Impalm￿nt. Investment gain5 and losse5. whether re￿Ised or unrea&sed. a￿ combu)ed wesenied as 'Ga*nsl{Lossesl on veslmenls. in Ihe ce￿50￿041t￿ ¥atefflent ol ffinantsal adiifjtses. InveStm￿ts ￿ 5ubs¥Jws ¥e Valued at cost less p￿￿510n 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 Proba￿e that • transfer of e¢onMii¢ benefrt vhl be required in seill*ment. and the amounl ollhe 5elYemeni ¢an be estimated ￿18*1y. 1.9 Flnan¢ial Instrum•nls The (xty has fm*oal assets and ffinancKal l*bifth'¥ of a kind lh* qualify as basic finanaal str(Ment* Basi¢ financial Inslrnffl￿ts *e wdbally fecowised at transaclm vakn and SL*J5equrnUy measured at their seillement ¥￿Ue. 1.10 0￿ratIng1•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 contr*ulion 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￿ wnrestrl￿Éd fvnd5 we av*abte for use at the discreti￿ ¢1 the Tru$tee5 In fwtherance ol the 014eGlive5 gl the wti¥* have nDt been designaled for olher rposes. Designated I￿￿S comprise ￿reStriC1ed *Jnd5 Ihal ha¥e been S￿ aside by Ihe Twstees lor partthar Ixirp05es. The aim and use of each designaled lund is set out in the noies to the financlal staiemenls. Restricted l￿d$ we l￿dS 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$lricied fvn(l 1$ $et ¢yJt in Ihe note5 lo Ihe statements. Investmenl income. gains and losses are alocaled apww.ats ￿nd. 1.13 In kind ft*￿119 I support The charity beneffit5 frINn the ser¥*es of ¥ohJnteets spend many h￿jr5 managing the charity. The truslee5 we of Ihe thèt the ¥¢*Jnieets' 5eNce5 a￿ not reasonably quantifBble or measurable and tpthefore no fast Is rewe5enled in tr* frnanaal slatemenls. Clftlcal accounlthg Mdmat•s and ar•as otjudgmenl Estimates and judgments are contrnaly evaluaied are based on historical eyrienct and oth faclors. expectation5 of futUFe events Ihal are befjeved to be reasonable under the circumslwce$. Crittcal a￿OUnting eslirnates and ￿￿jmPl1w￿'. In the appticabDn ol the Charitys accou￿1n9 poliies. the Trustees are ￿quired to make judgments. e51imales and a55Lwnptron5 aboLrt Ihe ¢arrywb3 arno￿1 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 Congde￿a to be rnIe￿l Aaual ￿$L￿t5 rnay dflerfrom these e5￿Male* The Charity makes eskn"males and assumplions concemiry th2 fLrture. The re5vlb.ng a¢¢ounts'ng estimates and a55umptions wll, by definition. sddorn equal the rfated actual results. The estimates and assumptions that have a swificanl risk of causing a mattsTral adjustrn¢nt lo Ihe carying arn￿nts of assets and liab￿lD"e$ thE nexl fThrKial yearare *tscussed below. The mosl 5y*ficant esitrnates arAI assumptions t*hMch 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 communi￿11￿$ yoiect 8anbwy Day apport￿lI[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 SUp￿rt 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 N￿orne 01 £7.715,134 was unreslncled. Invesbn¢nt Income ilnr•slrlct•d funds 2021 Total lund$ 2021 Total I￿￿$ 2020 Oividends frc*m 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 Trad￿9 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$lng funds Unrnstslct•d fund5 Totsl fvndg 2021 Totsl fund5 2020 Gweral expenses Staff cosls 7.681 42,141 12,346 47.375 42.141 Total 2021 49.822 49.q22 59,721 In 2020 lotal e¥penth'lurn 01 £59.721 was uryestricled. Analysls of expenditure on chafltsblè a¢tfr¥ities Summary by lund type R•sIriCt￿ Unrnstrl¢t•d fund5 funds 2021 2021 Totsi l￿d5 2021 Total nd$ 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 apport￿l￿e$ 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.$97 .899.700 8,347.832 Tolal 2020 8,336,291 11.541 .347,632 Analysls ol Ovect costs Total lund5 2021 Total fund5 2020 Support Opporliinllle5 2021 Siaff ￿St$ P￿miseS Compuler optraling c0515 Profesgonal fee5 Moior expenses General expenses Purchase5 DeP￿18110n 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 95￿5$ 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 A￿ty515 af9ovem4n¢e ¢O*s Totsl lunds 2021 Total funds 2020 Support OpportunllF•s 2021 2021 Audittxs rernuneralton Auditor5 Temu￿￿tion- 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.$65 3.976 st4ff cosls Group 2021 Group 2020 Chartty 2D21 Charity 2020 Ww5 and 50 Sao'al securty costs Conlributicffl lo defr￿d pen&on sthemes 7.121455 S29.794 6.683.635 435,707 7.021.393 524.68Z ,524,139 435,707 201342 198.497 199,590 198,497 7.8S4.591 7.317.839 7.74S.665 7,158,343 The average nurnbw ofofficer5 al￿ ptr50ns employed ty the Charity durir4J the yearwas as fdlows: Gn>up 2021 Growj 2020 charlty 2021 No. Charity 2020 No. Adminiqtration Support Opportunilies Tr4din9 27 231 74 27 231 74 291 63 405 354 313 332 Pa9• 27 STYLE ACRE NOTES TO THE FINANCWL sfATeMENTS FOR THE YEAR ENOEO 31 IAARCH 2021 Stsff ¢0sts l¢onllnued The nL¥r*er ol •ryJ*ees V•lMe emF4oi*w ben* (e¥ckth'ng emph)pr p￿s1on costs) exceed￿1 E60,OOOwas'. Grwp 2021 Group 2020 No. In the £80.001- £70.000 In the band t70.001 - £80.000 In the ts￿￿ £90,001- £IOQ,000 In the band £100,001- £110.000 Agency costs tenwary slaff yearamounled to £156.07212020'. £847,365). Rembneration touhng £234.174 12020.. £240.524) p* lo key man8gement Fernonnef during the year ended 31 March 2021. 11. Tntste•s' reM￿•￿tion oxp•ws Duiin9 thE yt•. np Tw5tees rec￿ed wy ￿M￿rat¥￿ or (ther b￿fi￿(lo2O. £NILI. Ouring Ihe ytar ended 31 kl¥th 2021. noTnth• expenses have been inwrred {2020- £NILI. P•ge 28 STYLE ACRE NOTES TO THE FINANCIAL STATaiENTS FOR THE YEAR ENDED 31 IAARGH 2021 11 T•nglbl• fix¢d OS*s Short. Flxturns Fr••hold ￿•$+￿¥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 Tang￿1• fix•d as*ets 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 C￿t 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 Addrf1￿S R￿￿oI10￿S 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 fo1￿1n9 was a s(b¥diary ofthe Ch•ity.' Nam• ¢¢mpkny Reptwed offic• or yinclyl Princlp•l ictlvlty pknce ofbuslness st￿ Acre Tfadwig Lrm*ed 0743n03 l Londm SireeL Readvw. 8wk51xre. RG1 4PN L￿thard 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 Ch*ity 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 YO.361 144,9 YDO.O 26S.921 6OD,000 SABRe*ff*Jwlw 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 I4.949￿2 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 I￿￿11r￿j 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 l￿d 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) Balar￿e at 31 Marth 2020 6alance at 1 Apnl 2019 TTrn51ts5 ir￿0￿( Gainsl ILossesl Income ExperKliture R•5tr1cted funds Sen%xy a rebound theopy Vehicles appeal T2 Appeal IT- TeChr￿l09Y ILY Irthpendwwe Wo developfflent Day Q)putunities- Portacab Garden projects Comrnunicatic￿S project Banbury Day Opportun¢ties Lottery) Supported L￿Ing 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 (4.8￿1 1886) 1,091 3,916 249.921 140.915 1181.051 209.785 Tolal Of lunds 2.$02.302 8,400.868 {8.424.577) 33.826 {36.876) 2,475.543 Page 37 STYLE ACRE NOTES TO THE FINANCIAL STATEIIENTS FOR THE YEAR ENDED 31 MARCH 2021 ststem•nt of fund% {ct)ntinu•db Purpo#e of de4nated lunds: Designated revaluatlon fiMMI The revaluation reserve fvrxl is required by the C¢)Mw￿ Act 2006 ¥nd reFvesents the amwnt ty *thich inve5tmen15 exceed or fao 5hurt of hisiorical cosi Designated fwM15- SA8Re slnking fimd Thi5 desgnaled fvnd 15 10 Ffo¥ide lor tutUTe rep￿r$ 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 frf*n h(The. to take a break in a seM be for Ihe long term. the orresponding Tr5er¥e5 ale illiquKI. O•slgnal•d fund5- Fixed assets Y•placernert The maim.ly ol the tharrty's fixed assets art rtems 7Ailh relativety short fNès. such a5 mol¢y vehicles ar￿ comwter equipment. 8olh ol these are essent41 in I￿ring aur Ch￿Itabl0 5ew¥ice5 and the re$*Ne$ represented by theif book value ale and the assets thems*s rttd regAar repl￿eMent. These fvnds are designated lo adthess both requ1￿MentS Designat•d fvnds- laain offic• and Oay Opportunity hub I￿lId5 Thi5 desKJnaled fvnd is lo protfftle for costs a55waled *ilh a new main office b￿rdir$ and day opp¢rturtty in w￿ing1￿d and feweseTrts •1 amty*Lt for the de¥elwent and and ffftin9S requtrtd. Puw• ol r•slvicl•d fvnds: S•nsory and r•bound th•rn These fvnds ha¥e been used lo develop a sensory •WMronmenl fgr Ihe peo￿* 5LVPQrt and prDVi equipment to supwrt the reb(wnd therapy admlbes. Funds uts"lised and captabsed as tangible fixed a55els we being amorttsed to match Ihe deprecialion ¢harye in Ihe Slaten￿nIS, £1.13112020: £7571. V•hicl• apwl Some funds recaved in respect ol the vehiclts appeal have been ulik5ed and capitalised as tangible ffixed assels, a￿1 afe bein9 amrrfty.sed lo match Ihè deveclatK￿ charge in the financi* statements. £S,S7612020'. ES.0211. T2 app•al These funds have been used to asgsl in Ihe oper*ng arTrd de¥ek*menl of Ihe drop in centre based in Oidcot and kn￿ as T2.. ThE fr4gh.ty is aimed at indIN￿￿al$ with les5 severe leaming drfficulb'esliJ%*Jlbties. Funds restricled to the pwchase ol new vehKJes lor the use 31 T2. have been ￿lI1$ed arKI capilalised a5 langible fixed a55efs and a￿ t*ry amortised ¢0 match the depieriats.on ch4r9e in the financial slalements. £28112020.. £3511. Funds rnslitted to the pwchas¢ olcoryiuter equiw*nt al T2, have been ublised 4fwJ Capita￿Sed as langible fixed assets ar* beirwj arn￿b¥ed to rnaich lh• depreciati￿ tharge h the finawal statements. £124 (2020.. £nl}. Page 38 sr¢LE ACRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR EIIDED 31 MARCH 2021 16. Stst•m•nt olfunds (conliN*dl T7 ￿p￿al l¢onUnue Furth restricted lo the deS￿￿ne￿ refvrbishment ol the t￿￿1r￿j at Tt ha%* been ufylised ar rApitalr5ed as lan￿'t4e fixed assels and are being aM0￿sed w mal¢h tr* depre¢iation charye the financial statefflenls. £7.84412020: £7.844). "IT- T•chnolo9y for Inde￿ndence 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 I￿Sdo￿ated fof use bylhe thairty. The market ol the Ptyiae*yn 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 r￿19a￿leTh al our SUPp￿d 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 IarwJi￿e 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 l￿d5 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￿ h￿se$. Funds utthsed and ca￿1a￿.5ed as tarwjible fixed assets are zrnrwtysed lo malch the depTe¢ialw Ltharge in the ffnanctal slatements, £26712020.. £356). 5ABRe revenue fvnding These lund5 have been raised to supwt the cosls ol ddivtsn9 ser¥ices at our Banlxry day oppOrt￿lty b. S￿1•1 enterpriJ•s The fvnds were ra5ed to fund the pwrthase ofitems for use at our Tea Room in Blew￿ry and the charity shop in Wallin9lord. Whore donalians are reCeI￿d lrywards capital eqL•menL the fvnd5 are arnortised to malth the depr￿a￿"on tharge in Ihe financial siaiements. £39612020: £2141. Page 39 SThLÉ ACRE NOTES TO THE FINANCIAL STATEMEMTS FOR THE YEAR EIIDED 31 IAARCH 2021 t& Stslemeftt ol funds lconlinwd Caring C•reerg These have been raised lo slaff costs ror a COllOTdinaior to firKI placements for a￿￿1$ ih leaming ￿￿￿"r1￿￿$ in 50(ial care. SODC Tl FwidiNJ These funds used to rv4enue ￿$ts ofdehvering seryices at T2, ¢wfydcol day hub. Day Opport￿ttl•s- G•nernl These funds have been rased lo (md costs arwj addthl equipment at day apport￿lE1e5 Coronavirus ￿ndeMk These funds have been received from oxfo￿Shife Cm to support the delNery ol enhan¢¢d infeclion conlfol and inuease vKthrce capacity social care seThices a5 part of the eentral govemmen¢ in response to Ihe COVIt>19 panderTh'c. Ways to W?Ilness These fvnds have been rwed lo support the Ways ¢0 W￿1￿5 prograrnme vthiGh enable$ the people we supporL wr ¢mthEe$ and lo imprtsve thdr heallh *EIbe￿9. The funds received in respecl ol olher donations are thdts•d in ac¢(*dance wlh the donors wlthes. DonalK)ns received towards captal eq￿pment are bery am+Yti$ed to malch the dèpreciab.on charge in the finanual statements, £1.04412020.' £886). Pa9p 40 17. knrnxy Dftsr 31 I1•￿h 2021 Des¥￿￿e0 Gener*fvnd5 61U25 15W) ¢S1U Q7.1 1,12J.S•l 221251 67.120 A217.t57 Tr￿1• GAMI 31 Dt*iw*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 rang￿e 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 bet*tèn lunds- prtw year R￿￿tted 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 Fina￿la1 ActiMtie$> 111.614 126.759) Adjustments for: Deprecia1￿ ¢harye* Gainslllossesl on inveslmenls Loss on Ihe sale of fixed assets DI￿￿endS. interests WKI Mts from knves¢mer Bank c￿￿geS paid Tax charge Deryeaselcinryeasel in detrkn Increasel{decrea¥) in creiklor5 Tax p•d 76,772 {67,1201 1.942 {11.8881 73.130 18,439 8.881 119.1731 9,660 1.635 217.441 140,763 11.0541 {155.6251 165,9301 f1.6351 N•t ¢ash prowld•d by operntlng acll¥lll•s 588.073 422,963 An•fysls of cash and cash Group 2021 Group 2020 Cash in hand 8611.S79 536.932 Totsl cash and e•sh •quival•nts J80.S79 536,932 21. Anatysl$ of ¢harw In net *Jebt At 1 Aprll 2020 Cash Ilo At 31110￿h 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 defir*d contrlyJfion pen5w scheme. The a55e15 of Ihe scheme art held separately Irom those of the group ￿ an iDdependenty administered ftmd. The pengon ¢ost ch*9e represent$ C4Mtrl>utiMs payabje by Ihe group lo the knd. Dumg the ye¥ pensiw contsibuliDns charged in the stattment of Frnancial Admties am￿jnIS to £202.342 12020.. £198.497J. M the balance sheet date, outs￿d￿l9 contribub.ons arnowls 10 £31.30212020." £26.7851 and are inthded in ¢reditors. 23. 0￿ratIng 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 Ch￿ty 2020 Not laterthJn 1 ye¥ L*er Ihw 1 year and r￿1 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. t￿ring the yearthe foll￿*r￿j tran5acbw took plxe between Style Acrè A￿e 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 to Mr I C 8￿￿ to their advantsge. PagE 44