##
##
|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|
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|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|
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||||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|
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||||||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~|||
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||||||||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|
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|||||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|
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|||||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|
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|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|
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|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|
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||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|
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|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|
##
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##
|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|
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||||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|
##
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##
|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)|
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|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|