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2021-08-31-accounts

Trustees D Hudson
J Bengeld
C Braithwaite
M Armitage (Appointed 24 February
2021)
J Chapman (Appointed 2 March 2021)
Secretary AJ Needham
Charity number 1112378
Company number 05467350
Registered office 1 Wlnton Avenue
Westcliff on Sea
Essex
SSO 7QU
Auditor Rickard Luckin Limited
Phoenix House, Suite 8
Christopher Martin Road
Basildon
Essex
SS143EZ
Webslte https://www. lwphomes. org.uk/
Solicitors Hunters
9 New Square
London
WC2A 3QN

Page
Trustees' report 1-8
Independent
auditor's		 report 9-12
Statement of financial activities 13
Balance sheet
Statement ofcash flows 15
Notes to the financial statements 16-32

charity's
closure.
Our total reserves		 charity's
closure.
Our total reserves
This amount
would currently
b
are;
f2,464,526		 e f610,000 (20
Of which:
Amount restricted to donor nominated
purposes		 f53,019
Amount capitallsed in tangible
fixed assets		 f4,232,121
Amount required to fund pension
deficit		 (f2,092,000)
Amount allocated to capital reserve 6150,000
Amount available to meet current operations f121,386

Unrestricted
Unrestricted		 Unrestricted
Unrestricted		 Restricted Total Total
funds funds funds
general designated
Notes 2021
f		 2021 2021f 2021 2020
f
Igggmtbftgm;
Donations
and legacies		 3 34,923 163,719 198,642 106,143
Charitable
activities		 4 2,423,509 2,423,509 2,409,401
Investments 5 6,891 6,891 9,611
Total income 2,465,323 163,719 2,629,042 2,525,155
Raising funds 6 6,725 6,725 7,631
Charitable
activities		 7 2,168,246 200 186,070 2,354,516 2,337,685
Total resources expended 2,174,971 200 186,070 2,361,241 2,345,316
Netgains/(losses) on Investments 11 48,888 48,888 (5,886)
Net Incoming/(outgoing)
before transfers		 resources 339,240 (200) (22,351) 316,689 173,953
Gross transfers
between		 funds (135,978) 142,841 (9,144) (2,281)
Net Incoming/(outgoing) resources 203,262 142,641 (31,495) 314,408 173,953
Other recognised gains and losses
Actuarial
gain/(loss)
on defined
benefit pension schemes		 90,000 90,000 (139,096)
Net movement
in		 funds 203,262 232,641 (31,495) 404,408 34,857
Fund balances at 1 September 2020 4,150,245 (2,174,641) 84,514 2,060,118 2,025,261
Fund balances at 31August 2021 4,353,507 (1,942,000) 53,019 2,464,526 2,060,118

2021 2021 2020
Notes F f
Fixed assets
Tangible assets 12 4,232,121 4,273,979
Investments 13 450,861 398,542
4,682,982 4,672,521
Current assets
Stocks 14 5,711 5,932
Debtors 15 13,247 7,061
Cash at bank and in hand 659,516 409,839
678,474 422,832
Creditors: amounts falling due within
one year 17 (202,212) (236,452)
Net current assets 476,262 186,380
Total assets less current liabilities 5,159,244 4,858,901
Creditors: amounts falling due after
more than one year 18 (602,718) (472,783)
Provisions for liabilities (2,092,000) (2,326,000)
Net assets 2,464,526 2,060,118
Income funds
Restricted funds 20 53,019 84,514
VorafitfictadL00&
Designated funds 22 (1,942,000) (2,174,641)
General
unrestricted		 funds 3,698,627 3,495,365
Revaluation reserve 654,880 654,880
2,411,507 1,975,605
2,464,526 2,060,118
The financial
statements		 were approved by the Trustees on 18March 2022
H~A.
D Hudson J Benfield
Trustee Trustee

2021 2020
Notes f
Cash flows from operatIng activities
Cash generated
from operations		 25 226,475 280,318
Investing activities
Purchase oftangible
fixed assets		 (116,500) (6,671)
Net proceeds on disposal of investments (3,431) 6,313
Investment income received 6,891 9,611
Net cash (used In)/generated from
Investing activities (113,040) 9,253
Financing activities
Proceeds of new bank loans 162,963
Repayment of bank loans (26,721)
Net cash generated
from/(used		 in)
financing activities 136,242
Net Increase
In cash and cash		 equivalents 249,677 289,571
Cash and cash equivalents at beginning ofyear 409,839 120,268
Cash and cash equivalents at end of year 659,516 409,839

Donation s and legacies
Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
general general
2021f 2021f 2021f 2020
f		 2020f 2020
f
Donations and gifts 34,923 11,254 46,177 22,843 74,701 97,544
infection control and
other grants 152,465 152,465 7,514 7,514
Other 1,085 1,085
34,923 163,719 198,642 31,442 74,701 106,143
Charitable activities
Provision of Provision of
care homes care homes
2021 2020
f. f
Resident Fees - Local Authority funding 316,030 288,999
Resident Fees - Private funding 1,878,365 2,005,154
Respite Cars 94,142 42,667
Ancillary trading income 134,972 72,581
2,423,509 2,409,401
Investments
Unrestricted Unrestricted Restricted Total
funds funds funds
general general
2021f 2020 2020
f		 2020f
Interest receivable 6,891 9,527 84 9,611

Unrestricted Unrestricted
funds funds
general general
2021 2020
Publicity 2,070 1,980
Press advertising 562 2,059
Website costs 1,693 938
Fundraising and publicity 4,325 4,977
nve e e 2,400 2,654
6,725 7,631
7 Charitable activities
Charitable Charitable
Expenditure Expenditure
2021 2020
f f
Staff costs 1,543,483 1,578,663
Depreciation and impairment 158,358 161,363
Operational costs 147,634 155,523
Pension
rectification		 costs 54,203 15,797
Staff welfare 5,966 6,607
Recruitment costs 2,167 1,973
Staff training 1,935 3,464
Premises costs 103,955 74,174
Insurance 27,476 21,093
Repairs 46,325 47,366
Telephone 13,406 13,696
Board and committee expenses 529 1,553
Communication and computer costs 21,169 19,981
Maintenance contracts 55,403 48,042
Other charitable expenditure 42,596 44,087
2,224,605 2,193,382
Share ofgovernance costs (see note 8) 129,911 144,303
2,354,516 2,337,685

7 Charitable
activities		 (Continued) (Continued)
Analysis
by fund
Unrestricted
funds - general		 2,168,246 2,316,457
Unrestricted
funds - designated		 200
Restricted funds 186,070 21,228
2,354,516 2,337,685
8 Support costs
Support Governance 2021 Support Governance 2020
costs costs costs costs
f f f f
Audit and accountancy
fees 10,173 10,173 9,891 9,891
Legal and professional
fees 119,738 119,738 134,412 134,412
129,911 129,911 144,303 144,303
Analysed
between
Charitable
activities		 129,911 129,911 144,303 144,303
Governance
casts includes		 payments ta the auditors off7,704 VAT induded (2020- f6,540 VAT included)
for audit fees.
9 Trustees
None ofthe trustees (or any persons connected with them) received any remuneration or benefits fram the
charity during
the year.
Out of pocket expenses totalling f317 (2020 - f1,000) were reimbursed to 1 (2020 - 4) trustees in relation
to travel costs.
10 Employees
Ths average
monthly		 number ofemployees during ths year was:
2021 2020
Number Number
Direct charitable
work		 81 81
Employment
costs		 2021
f		 2020f
Wages and salaries 1,403,048 1,436,753

Employees (Continued)
Social security costs 100,710 98,681
Other pension costs 39,725 43,229
1,543,483 1,578,663

Unrestricted Unrestricted
funds funds
general general
2021f 2020
Revaluation of investments 48,888 (5,886)
12 Tangible fixed assets
Freehold
Land		 Fixtures and Total
and Buildings Fittings
f. f.
Cost or valuation
At 1 September 2020 4,690,658 604,675 5,295,333
Additions 94,628 21,872 116,500
At 31 August 2021 4,785,286 626,547 5,411,833
Depreciation and impairment
At 1 September 2020 449,811 571,543 1,021,354
Depreciation charged in the year 137,886 20,472 158,358
At 31August 2021 587,697 592,015 1,179,712
Carrying
amount
At 31August 2021 4,197,589 34,532 4,232,121
At 31August 2020 4,240,847 33,132 4,273,979

13 Fixed a sset Investme nts
Listed
investments
Cost or valuation
At 1 September 2020 398,542
Valuation changes 54,719
Fees (2,400)
At 31August 2021 450,861
Carrying amount
At 31August 2021 450,861
At 31August 2020 398,542
14 Stocks
2021f 2020
Finished consumables and goods for resale 5,711 5,932
15 Debtors
Amounts falling due within one year: 2021 2020f
Trade debtors 12,990 6,642
Prepayments and accrued income 257 419
13,247 7,061

16 Loans and overdrafts Loans and overdrafts Loans and overdrafts Loans and overdrafts
2021
6		 2020f
Bankloans 636,242 500,000
Payable
within one		 year 33,524 27,217
Payable afier one year 602,718 472,783
Amounts
Induded		 above which fall due after five years;
Payable
by Instalments		 256,933 352,399
17 Creditors: amounts falling due within one year
2021 2020
Notes
Bank loans 16 33,524 27,217
Other taxation and social security 26,389 23,943
Government grants 3,357 55,078
Trade creditors 114,753 96,015
Accruals and deferred income 24,189 34,199
202,212 236,452
18 Creditors: amounts falling due after more than one year
2021 2020
Notes
Bank loans 16 602,718 472,783

19 Retirement
benefit		 Retirement
benefit		 schemes schemes (Continued)
Kay assumptions
2021 2020
0/ 0/
Discount rate 1.73% 1.57% p.a
Expected rate of increase of pensions in payment 3.18% 2.87% p.a
RPI inflation
rate		 3.34% 2.95%p.a
Pension increase in deferment 5.0% 50%p.a
Mortality assumptions
The assumed
life		 expectations on retirement at age 60are:
2021 2020
Years Years
Retiring today
- Males 86.3 86.0
- Females 88.9 88.1
Retiring
in 20 years
- Males 87.5 87.2
- Females 90.1 89.4
Amounts
recognised		 in the profit and loss account:
2021 2020
f 6
Net Interest on defined benefit liability/(asset) 35,000 41,000
Amounts
taken to other		 comprehensive income:
2021 2020
6
Actual
return
on scheme assets		 (164,000) (201,000)
Less: calculated interest element 66,000 73,000
Return
on scheme assets excluding		 interest income (98,000) (128,000)
Actuarial changes related to obligations (27,000) 227,000

The
amounts
included		 in the balance sheet
arising		 sheet
arising		 from the charity's
obligations
in respect ofdefined		 benefit plans are as foflows:
2021f 2020
f
Present value ofdefined benefit obflgatlons 6,471,000 6,521,000
Fair value of plan assets (4,379,000) (4,195,000)
Deficit in scheme 2,092,000 2,326,000
Movements
in the present value		 ofdefined benefit obflgations:
2021f
Liabilities at 1 September 2020 6,521,000
Benefits paid (124,000)
Actuarial
gains and losses		 (27,000)
Interest cost 101,000
At 31August 2021 6,471,000
The defined
benefit obligations		 arise from plans which are wholly or partly funded.
Movements
in the fair value of plan assets:
2021
f
Fair value ofassets at 1 September 2020 4,195,000
Interest income 66,000
Return on plan assets (excluding amounts included in net interest) 98,000
Benefits paid (124,000)
Contributions
by the employer		 144,000
At 31August 2021 4,379,000
The fair value of plan assets at the reporting period end was as follows:
2021 2020
f f.
Equity instruments 1,393,000 1,163,000
Liability
Driven Investments		 2,340,000 2,332,000
Cash 46,000 40,000
Insured
pensioners		 600,000 660,000
4,379,000 4,195,000

Movement
in funds		 Movement
in funds
Balance at Incoming Resources Transfers Balance at
1 September resources expended 31August
2020 2021
6
Amenities- Grange 4,316 4,316
Amenities- Minehead 8,032 2,708 (1,084) 1,094 10,750
Amenities- Westdiff 2,606 274 2,489 (2,734) 2,635
Amenities- Woodhall Spa 8,091 1,409 (7,978) 7,246 8,768
LPMA 54,203 (54,203)
Other 7,266 6,863 619 (14,748)
Infection control 152,465 (125,915) 26,550
84,514 163,719 (186,072) (9,142) 53,019

Analysis of net a ssets between funds
Unrestricted Designated Restricted Total
funds funds funds
2021 2021 2021 2021
f f f
Fund balances at 31August 2021 are
represented by;
Tangible assets 4,214,572 17,549 4,232,121
Investments 450,861 450,861
Current assets/(fiabilltles) 290,792 150,000 35,470 476,262
Long term liabilities (602,718) (602,718)
Provisions and Pensions (2,092,000) (2,092,000)
4,353,507 (1,942,000) 53,019 2,464,526
Unrestricted Designated Restricted Total
funds funds funds
2020 2020 2020 2020
f f f f
Fund balances at 31 August 2020 are
represented by:
Tangible assets 4,122,620 151,359 4,273,979
Investments 398,542 398,542
Current assets/(liabilities) 57,457 84,513 186,380
Long term liabilities (472,783) (472,783)
Provisions and Pensions (2,326,000) (2,326,000)
4,105,836 (2,174,641) 84,513 2,060,118
Designated funds
The income funds of the charity include the following designated funds which
have been set		 aside out of
unrestricted funds by the trustees for specific purposes:
Movement ln funds
Balance at Incoming Rescurces Transfers Balance at
1 September resources expended 31August
2020f 2021
f
Capital reserve 151,359 (200) (1,159) 150,000
Pension reserve (2,326,000) 90,000 144,000 (2,092,000)
(2,174,641) 90,000 (200) 142,841 (1,942,000)

24 Operating
lease commitments		 Operating
lease commitments
At the reporting
end date the		 charity had outstanding commitments for future minimum
lease payments
under non-cancellable operating leases, which fall due as follows:
2021 2020
Within one year 9,084 9,622
Between two and five years 14,273 8,102
23,357 17,724
25 Cash generated
from		 operations 2021 2020
f f
Surplus for the year 314,408 173,953
Adjustments
for:
Investment
Income recognised		 in statement of financial activities (6,891) (9,611)
Fair value gains and losses on investments (48,888) 5,886
Depreciation
and impairment
oftangible		 fixed assets 158,358 161,363
Difference between
pension
charge and		 cash contributions (144,000) (136,096)
Movements
in working		 capital:
Decrease/(increase)
in stocks		 221 (1,085)
(Increase)/decrease
in		 debtors (6,186) 51,285
Increase/(decrease)
in		 creditors 11,174 (20,455)
(Decrease)/increase
In deferred		 income (51,721) 55,078
Cash generated
from		 operations 226,475 280,318
26 Analysis ofchanges In net funds/(debt)
At 1 September Cash flaws At 31August
2020 2021
f
Cash at bank and
in hand		 409,839 249,677 659,516
Loans falling due within one year (27,217) (6,307) (33,524)
Loans falling due after more than one year (472,783) (129,935) (602,718)
(90,161) 113,435 23,274