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2022-04-30-accounts
|
Pages |
| Officers and Advisers |
1 |
| Report of the Trustees |
2-9 |
| Independent Auditor’s Report |
10-13 |
| Statement of Financial Activities |
|
| (including Income and Expenditure Account) |
14 |
| Balance Sheet |
15 |
| Statement of Cash Flow |
16 |
| Notes to the Financial Statements |
17-32 |
| The following pages are included for the Trustees’ |
|
| information and do not form part of the financial statements: |
|
| Detailed combined Statement of Financial Activities |
34 - 35 |
| Statements of Financial Activities |
36 - 37 |
| Trustees |
S M Mann JP (Chairman) |
|
T Crawshaw |
|
R Jackson ACCA, CTA |
|
A Mabert |
|
R Marshall FRICS, FAAV |
|
S D Porter |
|
D Smith |
|
A Williams (resigned 27 October 2021) |
|
N Meixner |
|
‘retired members of the professional bodies concerned |
| Company Secretary |
J Dixon |
| Registered Office |
Read Flouse |
|
23 The Esplanade |
|
Frinton-on-Sea |
|
Essex |
|
C013 9AU |
| Registered Company Number |
05098747 |
| Registered Charity Number |
1103732 |
| Auditor |
Scrutton Bland LLP |
|
Chartered Accountants |
|
and Statutory Auditor |
|
820 The Crescent |
|
Colchester Business Park |
|
Colchester |
|
C049YQ |
| Bankers |
Natwest Bank Pic |
|
4-5 High Street |
|
Chelmsford |
|
Essex |
|
CM11FZ |
|
|
|
|
Total |
Total |
|
|
**Unrestricted ** |
Restricted |
Funds |
Funds |
|
Notes |
Funds |
Funds |
2022 |
2021 |
|
|
£ |
£ |
£ |
£ |
| Income from: |
|
|
|
|
|
| Donations and legacies |
3 |
60,558 |
122,529 |
183,087 |
167,473 |
| Charitable activities |
4 |
1,181,827 |
- |
1,181,827 |
1,298,977 |
| Other trading activities |
5 |
2,310 |
- |
2,310 |
759 |
| Investments |
6 |
11,397 |
- |
11,397 |
11,385 |
| Total income |
|
1,256,092 |
122,529 |
1,378,621 |
1,478,594 |
| Expenditure on: |
|
|
|
|
|
| Raising funds |
7 |
4,964 |
|
4,964 |
2,965 |
| Charitable activities |
8 |
1,443,330 |
119,813 |
1,563,143 |
1,556,699 |
| Total expenditure |
|
1,448,294 |
119,813 |
1,568,107 |
1,559,664 |
| Net (expenditure)/income |
|
(192,202) |
2,716 |
(189,486) |
(81,070) |
| Realised and unrealised |
|
|
|
|
|
| gains on investments |
|
6,938 |
- |
6,938 |
88,469 |
| Transfers between funds |
|
- |
- |
- |
- |
| Net movement in funds |
|
(185,264) |
2,716 |
(182,548) |
7,399 |
| Total funds brought forward |
|
|
|
|
|
| at 1 May 2021 |
|
2,513,235 |
14,003 |
2,527,238 |
2,519,839 |
| Total funds carried forward |
|
|
|
|
|
| at 30 April 2022 |
|
2,327,971 |
16,719 |
2,344,690 £ 2,527,238 |
|
|
|
Total |
Total |
|
|
Funds |
Funds |
|
Notes |
2022 |
2021 |
|
|
£ |
£ |
| Fixed assets |
|
|
|
| Tangible assets |
12 |
1,890,830 |
1,936,592 |
| Investments |
13 |
368,170 |
500,295 |
|
|
2,259,000 |
2,436,887 |
| Current assets |
|
|
|
| Stocks |
14 |
28,400 |
25,139 |
| Debtors - due within one year |
15 |
11,520 |
11,939 |
| Cash and cash equivalents |
|
145,189 |
133,109 |
|
|
185,109 |
170,187 |
| Creditors: amounts falling due |
|
|
|
| within one year |
16 |
(99,419) |
(79,836) |
| Net current assets |
|
85,690 |
90,351 |
| Net assets |
|
£ 2,344,690 |
£ 2,527,238 |
| Income funds |
|
|
|
| Restricted funds |
17 |
16,719 |
14,003 |
| Unrestricted funds |
17 |
2,327,971 |
2,513,235 |
|
|
£2,344,690 |
£ 2,527,238 |
|
2022 |
2021 |
|
£ |
£ |
| Cash flows from operating activities |
|
|
| Net movements in funds |
(182,548) |
7,399 |
| Depreciation of tangible assets |
10,745 |
10,076 |
| Loss on disposal of tangible assets |
424 |
- |
| Impairment of fixed assets |
50,000 |
- |
| Interest received |
(305) |
(424) |
| Unrealised investment gain |
(6,938) |
(88,469) |
| Increase in stocks |
(3,261) |
(1,028) |
| Decrease in debtors |
419 |
30,185 |
| Increase in creditors |
19,583 |
26,996 |
| Net cash from operating activities |
(111,881) |
(15,265) |
| Cash flows from investing activities |
|
|
| Interest received |
305 |
424 |
| Purchase of tangible fixed assets |
(15,407) |
(9,489) |
| Purchase of investments |
(35,019) |
(26,100) |
| Sale of investments |
175,301 |
114,300 |
| Net cash generated in investing activities |
125,180 |
79,135 |
| Change in cash and cash equivalents in the year |
13,299 |
63,870 |
| Cash and cash equivalents brought forward |
139,143 |
75,273 |
| Cash and cash equivalents carried forward |
152,442 |
139,143 |
| Represented by: |
|
|
| Cash in hand and at bank |
145,189 |
133,109 |
| Cash held in investment |
7,253 |
6,034 |
| Cash and cash equivalents carried forward |
£ 152,442 |
£ 139,143 |
|
|
|
Total |
|
Unrestricted |
Restricted |
Funds |
|
Funds |
Funds |
2022 |
|
£ |
£ |
£ |
| Donations |
7,077 |
4,993 |
12,070 |
| Legacies |
6,986 |
- |
6,986 |
| Grants received |
47,618 |
117,536 |
165,154 |
| Government grant received |
(1,123) |
- |
(1,123) |
|
£ 60,558 |
£122,529 |
£ 183,087 |
|
|
|
Total |
|
Unrestricted |
Restricted |
Funds |
|
Funds |
Funds |
2021 |
|
£ |
£ |
£ |
| Donations |
2,936 |
4,353 |
7,289 |
| Legacies |
21,465 |
- |
21,465 |
| Grants received |
14,895 |
83,285 |
98,180 |
| Government grant received |
40,539 |
- |
40,539 |
|
£ 79,835 |
£ 87,638 |
£ 167,473 |
|
|
|
Total |
|
Unrestricted |
Restricted |
Funds |
|
Funds |
Funds |
2022 |
|
£ |
£ |
£ |
| Grants received were as follows: |
|
|
|
| Essex Cares Limited |
17,850 |
13,285 |
31,135 |
| BASIS |
(3,227) |
- |
(3,227) |
| Essex Community Foundation |
- |
33,265 |
33,265 |
| SOS Blind |
- |
5,875 |
5,875 |
| CRF Fund |
32,995 |
- |
32,995 |
| Workplace Capacity Fund |
- |
4,800 |
4,800 |
| Infection Control |
- |
50,244 |
50,244 |
| WRRF |
- |
8,760 |
8,760 |
| Omicron |
- |
1,307 |
1,307 |
|
£47,618 |
£ 117,536 |
£ 165,154 |
|
|
|
Total |
|
Unrestricted |
Restricted |
Funds |
|
Funds |
Funds |
2021 |
|
£ |
£ |
£ |
| Grants received were as follows: |
|
|
|
| Essex Cares Limited |
14,895 |
|
14,895 |
| Workplace Capacity Fund |
- |
2,600 |
2,600 |
| Infection Control |
- |
68,285 |
68,285 |
| LFT Grant |
- |
12,400 |
12,400 |
|
£ 14,895 |
£ 83,285 |
£98,180 |
|
|
Total |
|
Unrestricted |
Funds |
|
Funds |
2022 |
|
£ |
£ |
| Residential home |
1,180,751 |
1,180,751 |
| Day care |
|
|
| Day centre |
22 |
22 |
| Other activities |
1,054 |
1,054 |
|
£ 1,181,827 £ 1,181,827 |
|
|
|
Total |
|
Unrestricted |
Funds |
|
Funds |
2021 |
|
£ |
£ |
| Residential home |
1,298,135 |
1,298,135 |
| Day care |
608 |
608 |
| Day centre |
(31) |
(31) |
| Other activities |
265 |
265 |
|
£ 1,298,977 £ 1,298,977 |
|
|
|
|
Total |
|
Unrestricted |
Restricted |
Funds |
|
Funds |
Funds |
2022 |
|
£ |
£ |
£ |
| Visual aids |
1,456 |
m |
1,456 |
| Others |
854 |
- |
854 |
|
£2,310 |
- |
£2,310 |
|
|
|
Total |
|
Unrestricted |
Restricted |
Funds |
|
Funds |
Funds |
2021 |
|
£ |
£ |
£ |
| Visual aids |
757 |
_ |
757 |
| Others |
2 |
- |
2 |
|
£759 |
- |
£759 |
| NCOME FROM INVESTMENTS |
|
|
|
|
|
2022 |
2021 |
|
|
£ |
£ |
| Interest receivable |
|
305 |
424 |
| Dividends receivable |
|
11,092 |
10,961 |
|
|
£11,397 |
£ 11,385 |
| XPENDITURE ON RAISING FUNDS |
|
|
|
|
|
2022 |
2021 |
|
|
£ |
£ |
| Visual aids - net of stock adjustment |
|
4,801 |
2,788 |
| Investment management costs |
|
163 |
177 |
|
|
£ 4,964 |
£ 2,965 |
|
2022 |
2021 |
|
£ |
£ |
| Residential home and day centre |
1,495,804 |
1,542,839 |
| Impairment of freehold property |
50,000 |
- |
| Governance costs (note 9) |
17,339 |
13,860 |
|
£ 1,563,143 £ 1,556,699 |
|
|
2022 |
2021 |
|
£ |
£ |
| Subscriptions and registration fees |
6,485 |
6,510 |
| Auditors’ remuneration |
5,700 |
5,100 |
| Auditors’ remuneration for non-audit work |
5,154 |
2,250 |
|
£ 17,339 |
£ 13,860 |
|
2022 |
2021 |
|
£ |
£ |
| This is stated after charging: |
|
|
| Auditors’ remuneration |
5,700 |
5,100 |
| Depreciation - owned assets |
10,745 |
10,076 |
|
2022 |
2021 |
|
£ |
£ |
| Wages and salaries |
1,067,754 |
1,122,023 |
| National insurance contributions |
66,055 |
71,834 |
| Pension costs |
17,021 |
18,156 |
| Pension administration |
4,080 |
4,680 |
|
1,154,910 £ 1,216,693 |
|
|
2022 |
|
2021 |
|
| Management |
|
2 |
|
2 |
| Administration |
|
3 |
|
3 |
| Community Services personnel |
|
5 |
|
5 |
| Care home staff |
|
54 |
|
58 |
|
|
64 |
|
68 |
|
Freehold |
Fixtures |
Motor |
|
|
property |
and fittings |
Vehicles |
Total |
|
£ |
£ |
£ |
£ |
| Cost |
|
|
|
|
| At 1 May 2021 |
1,900,000 |
58,250 |
21,981 |
1,980,231 |
| Additions |
- |
15,407 |
- |
15,407 |
| Disposals |
- |
(889) |
- |
(889) |
| Impairment |
(50,000) |
- |
- |
(50,000) |
| At 30 April 2022 |
1,850,000 |
72,768 |
21,981 |
1,944,749 |
| Depreciation |
|
|
|
|
| At 1 May 2021 |
- |
34,023 |
9,616 |
43,639 |
| Charge for the year |
- |
7,654 |
3,091 |
10,745 |
| Disposals |
- |
(465) |
- |
(465) |
| At 30 April 2022 |
- |
41,212 |
12,707 |
53,919 |
| Net book value |
|
|
|
|
| At 30 April 2022 |
£ 1,850,000 |
£31,566 |
£ 9,274 |
£ 1,890,830 |
| At 30 April 2021 |
£ 1,900,000 |
£ 24,227 |
£ 12,365 |
£ 1,936,592 |
|
2022 |
2021 |
|
£ |
£ |
| Movement in fixed asset investments |
|
|
| Market value brought forward at 1 May 2021 |
500,295 |
501,010 |
| Additions to investment at cost |
35,019 |
26,100 |
| Disposals |
(175,301) |
(114,300) |
| Gain on revaluation |
6,938 |
88,469 |
| increase/(decrease) in cash held |
1,219 |
(984) |
| Market value carried forward at 30 April 2022 |
£ 368,170 |
£ 500,295 |
| Investment portfolio at market value comprised |
|
|
| Property Income Trust for Charities |
37,338 |
59,804 |
| EP Corporate Bond Income Fund |
55,411 |
73,929 |
| EP Global Equity Income Fund |
27,531 |
39,879 |
| EP UK Equity Income Fund |
240,637 |
320,649 |
| Cash held by Investment Manager |
7,253 |
6,034 |
|
£368,170 |
£ 500,295 |
|
2022 |
2021 |
|
£ |
£ |
| Medical and domestic supplies |
15,856 |
8,328 |
| Food |
2,705 |
2,589 |
| Visual aids - resale stocks |
9,839 |
11,973 |
| Visual aids - display stocks |
- |
2,249 |
|
£ 28,400 |
£25,139 |
|
2022 |
2021 |
|
**£ ** |
£ |
| Trade debtors |
4,086 |
6,994 |
| Government Grants |
- |
- |
| Prepayments and accrued income |
7,434 |
4,945 |
|
£ 11,520 |
£ 11,939 |
|
2022 |
2021 |
|
£ |
£ |
| Trade creditors |
37,326 |
41,113 |
| Social security and other taxes |
22,094 |
15,518 |
| Other creditors |
18,834 |
7,309 |
| Accruals and deferred income |
21,165 |
15,896 |
|
£99,419 |
£ 79,836 |
|
|
|
Expenditure |
Transfers |
|
|
Balance at |
Incoming |
including |
between |
Balance at |
|
1 May 2021 |
resources |
gains/(losses) |
funds |
30 April 2022 |
|
£ |
£ |
£ |
£ |
£ |
| Unrestricted Funds |
|
|
|
|
|
| General fund |
184,589 |
1,255,199 |
(1,394,294) |
|
45,494 |
| Designated funds |
|
|
|
|
|
| Essex support 5 year |
|
|
|
|
|
| plan |
300,000 |
|
|
|
300,000 |
| Read House |
7,897 |
893 |
(4,000) |
|
4,790 |
| Essex support exit |
|
|
|
|
|
| strategyfund |
25,000 |
|
. |
|
25,000 |
| Investment revaluation |
|
|
|
|
|
| reserve |
95,749 |
. |
6,938 |
|
102,687 |
| Designated property |
|
|
|
|
|
| assetfund |
1,900,000 |
- |
(50,000) |
- |
1,850,000 |
|
2,513,235 |
1,256,092 |
(1,441,356) |
_ |
2,327,971 |
| Restricted Funds |
|
|
|
|
|
| Residents amenities at |
|
|
|
|
|
| Read House |
783 |
380 |
(515) |
|
648 |
| Mobile Sight Centre |
4,147 |
- |
|
|
4,147 |
| Brentwood Community |
|
|
|
|
|
| Hospital Project |
3,312 |
■ |
- |
|
3,312 |
| Extended provision in |
|
|
|
|
|
| Chelmsford |
4,160 |
- |
- |
|
4,160 |
| Staff fund |
1,601 |
4,613 |
(3,126) |
|
3,088 |
| Workplace Capacity |
|
|
|
|
|
| grant |
~ |
4,800 |
(4,800) |
- |
|
| WRRF |
|
8,760 |
(8,760) |
|
|
| Infection control grant |
- |
50,244 |
(48,880) |
|
1,364 |
| LFT grant |
- |
1,307 |
(1,307) |
- |
|
| ECL additional funds |
- |
13,285 |
(13,285) |
. |
|
| ECF Capital grant |
- |
33,265 |
(33,265) |
- |
|
| SOS Blind |
|
5,875 |
(5,875) |
|
|
|
|
|
|
- |
|
|
14,003 |
122,529 |
(119,813) |
|
16,719 |
|
£ 2,527,238 |
£ 1,378,621 |
£(1,561,169) |
- |
£ 2,344,690 |
|
|
|
Expenditure |
Transfers |
Transfers |
|
|
Balance at |
Incoming |
including |
between Balance at |
|
|
|
1 May 2020 |
resources gains/(losses) |
|
funds |
30 |
April 2021 |
|
£ |
£ |
£ |
£ |
|
£ |
| Unrestricted Funds |
|
|
|
|
|
|
| General fund |
264,187 |
1,389,821 |
(1,470,357) |
|
938 |
184,589 |
| Designated funds |
|
|
|
|
|
|
| Essex support 5 year |
|
|
|
|
|
|
| plan |
300,000 |
- |
- |
|
- |
300,000 |
| Read House |
8,000 |
1,135 |
- |
(1,238) |
|
7,897 |
| Essex support exit |
|
|
|
|
|
|
| strategy fund |
25,000 |
” |
- |
|
- |
25,000 |
| Investment revaluation |
|
|
|
|
|
|
| reserve |
7,280 |
- |
88,469 |
|
- |
95,749 |
| Designated property |
|
|
|
|
|
|
| asset fund |
1,900,000 |
- |
- |
|
- |
1,900,000 |
|
2,504,467 |
1,390,956 |
(1,381,888) |
|
(300) |
2,513,235 |
| Restricted Funds |
|
|
|
|
|
|
| Residents amenities at |
|
|
|
|
|
|
| Read House |
3,019 |
1,345 |
(3,581) |
|
|
783 |
| Mobile Sight Centre |
4,147 |
- |
- |
|
- |
4,147 |
| Brentwood Community |
|
|
|
|
|
|
| Hospital Project |
3,312 |
“ |
- |
|
- |
3,312 |
| Extended provision in |
|
|
|
|
|
|
| Chelmsford |
4,160 |
- |
- |
|
- |
4,160 |
| Staff fund |
734 |
3,008 |
(2,441) |
|
300 |
1,601 |
| Workplace Capacity |
|
|
|
|
|
|
| grant |
- |
2,600 |
(2,600) |
|
- |
- |
| Infection control grant |
- |
68,285 |
(68,285) |
|
- |
- |
| LFT grant |
- |
12,400 |
(12,400) |
|
- |
- |
|
15,372 |
87,638 |
(89.,307) |
|
300 |
14,003 |
|
£2,519,839 |
£ 1,478,594 |
£(1,471 ,195) |
|
- £ 2,527,238 |
|
|
Tangible |
|
Net |
|
|
fixed |
|
current |
2022 |
|
assets |
Investments |
assets |
Total |
|
£ |
£ |
£ |
£ |
| Restricted funds |
- |
- |
16,719 |
16,719 |
| Unrestricted funds |
1,890,830 |
368,170 |
68,971 |
2,327,971 |
|
1,890,830 |
368,170 |
85,690 |
2,344,690 |
|
Tangible |
|
Net |
|
|
fixed |
|
current |
2021 |
|
assets |
Investments |
assets |
Total |
|
£ |
£ |
£ |
£ |
| Restricted funds |
- |
- |
14,003 |
14,003 |
| Unrestricted funds |
1,936,592 |
500,295 |
76,348 |
2,513,235 |
|
£ 1,936,592 |
£ 500,295 |
£ 90,351 |
£ 2,527,238 |
|
2022 |
2021 |
|
£ |
£ |
| Expiry date: |
|
|
| Within one year |
31,915 |
28,663 |
| Between two and five years |
95,724 |
64,781 |
| Later than five years |
|
|
|
£ 127,639 |
£ 93,444 |