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2022-08-31-accounts

Trustees D Hudson
J Benfield
C Braithwaite
M Armitage
JChapman
DJ C Greet (Appointed 22 October 2022)
Secretary AJ Needham
Charity number 1112378
Company number 05467350
Registered office 1 Winton Avenue
Westcliff on Sea
Essex
SSO7QU
Auditor Gowers
Limited
The Old School House
Bridge Road
Hunton
Bridge
Kings Langley
Herts
WD4 8SZ
Website https;//www Jwphomes. org.uk/
Solicitors Hunters
9 New Square
London
WC2A 3QN

Page
Trustees'
report		 1-8
Independent
auditor"s		 report 9-12
Statement offinancial activities 13
Balance sheet 14
Statement ofcash flows 15
Notes to the financial statements 16-32

currently be 6639 ,

000(2021:6610,000).
Our total reserves are: f3,263,582
Ofwhich:
Amount restricted to donor nominated
purposes		 626,449
Amount capitalised in tangible
fixed assets		 64,134,91I
Amount required to fund pension
deficit		 (61,456,000)
Amount allocated to capital reserve F150,000
Amount available to meet current operations 9421,392

Unrestricted Unrestricted Restricted Total Total
funds funds funds
general designated
Notes 2022f 2022
f		 2022f 2022
f		 2021
Income from:
Donations
and		 37,375 80,713 118,088 198,642
Charitable
activities		 2,718,170 33,780 2,751,950 2,423,509
Investments 1,485 49 1,534 6,891
Total income 2,757,030 114,542 2,871,572 2,629,042
~Edit
Raising funds 6 5,366 5,366 6,725
Charitable
activities		 7 2,388,571 114,112 2,529,683 2,354,516
Total resources 2,393,937 114,112 2,535,049 2,361,241
Net gains/(losses) on 11 (19,271) (19,271) 48,888
Net
incoming/(outgoing) 343,822 (26,570) 317,252 316,689
Gross transfers (154,196) 154,196 (2,281)
Net incoming/(outgoing) 189,626 154,196 (26,570) 317,252 314,408
Other recognised gains and losses
Actuarial
gain/(loss)
on defined benefit 481.804 481 804 90.000
Net movement
in		 funds 189,626 636,000 (26,570) 799,056 404,408
Fund balances at 1 4,353,507 (1,942,000) 53,019 2,464,526 2,060,118
Fund balances at 31 4,543,133 (1,306,000) 26,449 3,263,582 2,464,526

2022 2021
Notes f f
Fixed assets
Tangible assets 12 4,134,911 4,232,121
Investments 13 431,590 450,861
4,566,501 4,682,982
Current assets
Stocks 14 7,925 5,711
Debtors 15 80,835 13,247
Cash at bank and in hand 935,586 659,516
1,024,346 678,474
Creditors: amounts falling due
within one year 17 (201,130) (202,212)
Net current assets 823,216 476,262
Total assets less current liabilities 5,389,717 5,159,244
Creditors: amounts falling due after
more than one year 18 (670,135) (602,718)
Provisions for liabilities (1,456,000) (2,092,000)
Net assets 3,263,582 2,464,526
Income funds
Restricted
funds
Il
turf
d
Designated
funds		 20
22		 (1,306,000)
26,449
+cree@		 (1,942,000)
53,019
General
unrestricted		 funds 3,888,253 3,698,627
Revaluation
reserve		 654,880 654,880
3,237,133 2,411,507
3,263,582 2,464,526
The financial statements were approved by the Trustees on ......... ...............
/ 7
2.et~

2022 2021
Notes 6
Cash flows from operating act(vlf(es
Cash generated
from operations		 25 265,957 226,475
Investing activities
Purchase oftangible
fixed assets		 (63,129) (116,500)
Net proceeds on disposal ofinvestments (3,431)
Investment income received 1,534 6,891
Net cash (used in)/generated from
investing activities (61,595) (113,040)
Financing activities
Proceeds of new bank loans 104,026 162,963
Repayment of bank loans (32,318) (26,721)
Net cash generated
from/(used		 in)
financing activities 71,708 136,242
Net increase in cash and cash equivalents 276,070 249,677
Cash and cash equivalents at beginning ofyear 659,516 409,839
Cash and cash equivalents at end of year 935,586 659,516

Unrestrl Unrestrl Restricted Total Unrestricted Restricted Total
funds funds funds funds
general general
2022 2022 2022 2021 2021 2021
8 8 8 6 8 f
Donations and gias 37,375 80,713 118,088 34,923 11,254 46,177
Infection control and
other grants 33,780 33,780 152,465 152,465
37,375 114,493 151,868 34,923 163,719 198,642
Charitable activities
Provision ofcare Provision of
homes care homes
2022 2021
6 f
Resident Fees - Local Authority funding 478,861 316,030
Resident Fees - Private funding 2,090,023 1,878,365
Respite Care 145,520 94,142
Ancillary trading income 3,766 134,972
2,718,170 2,423,509
Investments
Unrestricted Unrestricted
funds general funds
general
2021
f
Interest receivable 1,534 6,891

Unresbicted Unrestricted
funda funds
general general
2022 2021
6
Fundraisin and ublici
Publicity 2,160 2,070
Press advertising 856 562
Website costs 334 1,693
Fundraising and publicity 3,350 4,325
Investment mana ement 2,016 2,400
5,366 6,725
7 Charitable activities
Charitable Charitable
Expenditure Expenditure
2022 2021
6 F
Staff costs 1,681,000 1,543,483
Depreciation and impairment 160,339 158,358
Operational costs 151,490 147,634
Pension
rectification		 costs 81,227 54,203
Staff welfare 6,427 5,966
Recruitment costs 4,915 2,167
Staff training 4,580 1,935
Premises costs 94,686 103,955
Insurance 36,511 27,476
Repairs 71,298 46,325
Telephone 13,399 13,406
Board and committee expenses 1,437 529
Communication and computer costs 26,789 21,169
Maintenance contracts 51,660 55,403
Other charitable expenditure 55,437 42,596
2,441,195 2,224,605
Share ofgovernance costs (see note 8) 88,488 129,911
2,529,683 2,354,516

Analysis by fund by fund
Unrestricted funds - general 2,388,571 2,168,246
Unrestricted funds - designated 200
Restricted funds 141,112 186,070
2,529,683 2,354,516
Supportcosts
Support Governance 2022 Support Governance costs 2021
costs costs costs
8 8 8 8 5
Audit and accountancy
fees 9,604 9,604 10,173 10,173
I egal and professional
fees 78,884 78,884 119,738 119,738
88,488 88,418 129,911 129,911
Analysed between
Charitable activities 88,488 88,418 129,911 129,911

Employment costs 2022 2021
8
Wages and salaries 1,528,486 1,403,048
Social security costs 114,676 100,710
Other pension costs 37,838 39,725
1,681,000 1,543,483
There were no employees whose annual remuneration was 560,000 or more.
Net gains/(losses) on investments
Unrestricted Unrestricted
funds funds
general general
2022 2021
f
Revaluation of investments (19,271) 48,888
Tangible fixed assets
Freehold
Land		 Fixtures and Total
and Buildings Fitengs
8 E
Cost orvaluation
At 1 September 2021 4,785,286 626,547 5,411,833
Additions 34,025 29,103 63,128
At 31 August 2022 4,819,311 655,560 5,474,961
Depreciation and impairment
At 1 September 2021
Depreciation
charged		 in the year 587,697
141,150		 592,015
19,189		 1,179,712
160,339
At 31 August 2021 728,847 611,204 1,340,051
Carrying
amount
At 31 August 2022 4,090,464 44,446 4,134,910
At 31 August 2021 4,197,589 34,532 4,232,121

Listed
investments
Cost or valuation
At 1 September 2021 450,861
Valuation
changes		 (16,869)
Fees (2,404)
At 31 August 2022 431,590
Canying
amount
At 31 August 2022 431,590
At 31 August 2021 450,861
14 Stocks
2022 2021
8 8
Consumables 7,925 5,711
15 Debtors
2022 2021
Amounts falling due within one year: 8
Trade debtors 74,802 12,990
Prepayments and accrued income 6,033 257
80,835 13,247

16 Loans and overdrafts Loans and overdrafts
2022 2021
6 6
Bank loans 707,950 636,242
Payable
within one year		 37,815 33,524
Payable after one year 670,135 602,718
Amounts
induded
above which fall due after five years:
Payable
by instalments		 497,519 256,933
One ofthe loans included above was fully repaid in January 2023 by the payment ofa total of6299,309.
17 Creditors: amounts falling due within one year
2022 2021
Notes 6 6
Bank loans 16 37,815 33,524
Other taxation and social security 25,190 26,389
Government
grants		 55,078
Trade creditors 74,237 114,753
Accruals and deferred income 63,888 24,189
201,130 202,212
18 Creditors: amounts falling due after more than one year
2022 2021
Notes 6 f
Bank loans 16 670,135 602,718

Key assumptions
2022 2021
Discount rate 3.97% 1.73%
Expected rate of increase ofpensions in payment 319% 3.18%
RPI inflation
rate		 3.35% 3.34%
Pension increase in deferment 5 PP% 5.00%
Mortality assumptions
The assumed
life expectations		 on retirement at age 60are:
2022 2021
Years Years
Retiring today
- Males 86.4 86.3
- Females 89.0 88.9
Retiring
in 20years
- Males 87.5 87.5
- Females 90.2 90.1
Amounts
recognised		 in the profit and loss account:
2022 2021
6 6
Net interest
on defined		 benefit liability/(asset) 35,000 35,000
Amounts
taken to other		 comprehensive income:
2022 202'I
6
Actual return
on		 scheme assets 1,323,000 (164,000)
Less: calculated interest element 76,000 66,000
Return
on scheme assets excluding		 interest income 1,399,000 (98,000)
Actuarial
changes related to obligations		 (1,915,000) (27,000)

in respect of defined
benefit plan		 s are as fo llows:
2022 2021
f f
Present value ofdefined benefit obligations 4,525,000 6,471,000
Fair value of plan assets (3,069,000) (4,379,000)
Deficit in scheme 1,456,000 2,092,000
Movements
in the present value		 of defined benefit obligations:
2022
f
Liabilities at 1 September 2021 6,471,000
Benefits paid (142,000)
Actuarial
gains and losses		 (1,915,000)
Interest cost 111,000
At 31 August 2022 4,525,000
The defined
benefit obligations
arise from plans which are wholly or partly funded.
Movements
in the fair value of plan assets:
2022
f.
Fair value ofassets at 1 September 2021 4,379,000
Interest income 76,000
Return on plan assets (excluding amounts included in net interest) (1,399,000)
Benefits paid (142.000)
Contributions
by the employer		 155,000
At 31 August 2022 3,069,000
The fair value of plan assets at the reporting period end was as follows:
2022f 2021f
Equity instruments 1,118,000 1,393,000
Liability
Driven Investments		 1,472,000 2,340,000
Cash 11,000 46,000
Insured pensioners 468,000 600,000
3,069,000 4,379,000

Movement in funds
Balance at Incoming Resources Transfers Balance at
1September msoUrctm expended 31 AUgUSt
2021
f		 2022f
Amenities- Grange 4,316 (4,316)
Amenities- Minehead 10,750 4,352 (4,352) 1,439 12,189
Amenities- Westcliff 2,635 2,555 (2,555) 1,438 4,073
Amenities- Woodhafi Spa 8,768 3,855 (3,875) 1,439 10,187
LPMA 70,000 (70,000)
Other
Infection control 26,550 33,780 (60,330)
53,019 114,542 (141,112) 26,449

21 Analysis ofnet assets between funds Analysis ofnet assets between funds Analysis ofnet assets between funds
Unrestricted Designated Restiictad Total
funds funds funds
2022f 2022f 2022f 2022f
Fund balances at 31 August
2022 are represented by:
Tangible assets 4,134,911 4,134,911
Investments 431,590 431,590
Current assets/(liabilities) 646,767 150,000 26,449 823,216
Long term liabilities (670,135) (670,135)
Provisions
and		 Pensions (1,456,000) (1,456,000)
4,543,133 (1,306,000) 26,449 3,263,582
Unrestricted Designated Restricted Total
funds funds funds
2021 2021 2021 2021
f F f.
Fund balances at 31 August
2021 are represented by:
Tangible assets 4,214,572 17,549 4,232,121
Investments 450,861 450,861
Current assets/(liabilities) 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

Movement in funds
Balance at incoming Resources expended Transfers Balance at
1September nlaollroaa 31Auguat2022
2021
f
Capital reserve 150,000 150,000
Pension reserve (2,092,000) 481,804 154,196 (1,456,000)
(1,942,000) 481,804 154,196 (1,306,000)

24 Operating
lease		 commitments commitments
At the reporting
date		 the charity had outstanding commitments for future minimum lease payments under non-
cancellable
operating		 leases, which fall due as follows:
2022 2021
8 6
Within one year 8,299 9,084
Between two and five years 17,864 14,273
Over five years 4,627
30,790 23,357
25 Cash generated from operations 2022 2021
Surplus for the year 317,252 314,408
Adjustments
for:
Investment
income recognised		 in statement of financial activities (1,534) (6,891)
Fair value gains and losses on investments 19,271 (48,888)
Depreciation
and		 impairment
oftangible fixed assets		 160,339 158,358
Pension recovery cash contributions (154,196) (144,000)
Movements
in working
capital:
Decrease/(increase) in stocks (2,214) 221
(Increase)/decrease in debtors (67,588) (6.186)
Increase/(decrease) in creditors (5,373) (40.547)
Cash generated from operations 265,957 226,475
26 Analysis ofchanges in net funds/(debt)
At 1September Cash flows At 31August
zozt 2023
8 8
Cash at bank and in hand 659,516 276,070 935,586
Loans falling due within one year (33,524) (4,291) (37,815)
Loans falling due after more than one year (602,718) (67,417) (670,135)
23,274 204,362 227,636

27 Related party transactions
There were no disclosable related party transactions during the year.
Remuneration
of key management		 personnel
The remuneration
of key management		 personnel is as follows.
2022 2021
8 8
Aggregate
compensation		 100,888 94,409