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2021-09-30-accounts

Charity Registration No. 1114653

Company Registration No 05639165

FAIRFIELD RESIDENTIAL HOME A COMPANY LIMITED BY GUARANTEE

REPORT AND FINANCIAL STATEMENTS

For the year ended 30 September 2021

Wenn Townsend

Chartered Accountants

Oxford

FAIRFIELD RESIDENTIAL HOME A COMPANY LIMITED BY GUARANTEE

Contents

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Page
Charity information 2
Trustees' report 3 to 6
Independent auditors’ report 7 to 9
Statement of financial activities 10
Balance Sheet 11
Cash Flow statement 12
Accounting policies 13 to 14
Notes to the financial statements 15 to 18
Detailed income and expenditure account (not forming part of the 20
Statutory accounts)
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FAIRFIELD RESIDENTIAL HOME A COMPANY LIMITED BY GUARANTEE

Charity information

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Board of Trustees The membership of the Board of Trustees up to the date of
signing the financial statements was as follows:
Dr JJ Guy OBE - Chair
Mr D David - Honorary Treasurer (appointed 28 May 2021)
Mrs C I Balme
Dr C A Chivers
Mr K Minns
Mrs W Robinson
Mr A O’Hickey
Dr S L Hope
Mrs C Harrington (appointed 1st January 2022)
Secretary Ms Fiona Shickle
Solicitors Freeths Solicitors LLP
5000 Oxford Business Park South
Oxford
OX4 2BH
Auditors Wenn Townsend
30 St Giles
Oxford
OX1 3LE
Bankers Handelsbanken
Seacourt Tower
West Way
Oxford
OX2 0JJ
Investment advisors CCLA Investment Management Limited
80 Cheapside
London
EC2V 6DZ
Registered Charity 1114653
number
Company Number 5639165
Registered office 115A Banbury Road
Oxford
OX2 6LA
Manager Mrs D Hayes
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FAIRFIELD RESIDENTIAL HOME A COMPANY LIMITED BY GUARANTEE

Trustees' Annual Report

For the year ended 30 September 2021

Directors and trustees

The directors of the charitable company (the charity) are its trustees for the purpose of charity law and throughout this report are collectively referred to as the trustees. All of the Board of Trustees on page 2 are directors.

Structure, governance and management

Governing Document

Fairfield Residential Home is a company limited by guarantee governed by its Memorandum of Association dated 8th November 2005 and Articles of Association amended on 30th August 2013. It is registered as a charity with the Charity Commission.

Appointment of trustees

As set out in the Articles of Association the Chair of Trustees is appointed by the Board of Trustees. The Trustees have appointed Mrs C Harrington as a Trustee with effect from 1st January 2022 by resolution. She will retire at the annual general meeting and be eligible for election. In accordance with the Articles of Association Mrs CI Balme, Dr CA Chivers and Mrs W Robinson retire at the annual general meeting and are eligible for re-election.

Trustee induction and training

New Trustees are given documentation containing information on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the committee and decision making processes, the recent financial performance and the future financial plans of the charity. Trustees are encouraged to attend appropriate training events that will facilitate the undertaking of their role, and from time to time attend seminars on their role as trustees.

Key management personnel

Throughout the financial year 2020-2021, the Trustees designated the three key members of the Senior Leadership Team at Fairfield Residential Home as Ms Fiona Shickle, Bursar, Mrs Deborah Hayes, Registered Manager and Mrs Michelle Williams, Director of Care. Their salaries are fixed by reference to the salaries of comparable posts in care homes in Oxfordshire and the market rate for similar roles. In May 2022, the Trustees designated Ms Fiona Shickle as Chief Executive to lead the management team.

Organisation

The trustees delegate the management of the Charity to the Chief Executive and the Senior Leadership Team. The trustees hold meetings on six occasions each year. At the meetings of the Trustees the Senior Leadership Team reports on activity since the previous meeting and matters requiring Trustee approval. The Trustees consider the broad strategy of the Charity including allocation of resources, investment in leasehold improvements to the Home, reserves and risk management, management of staff, charges to residents, compliance with all legal and charitable obligations as well as the requirements of the local authority and social care services.

Risk management

A risk register has been compiled that categorises every identified perceived risk by reference to “Risk Impact” and “Risk Likelihood”, and sets out proposed mitigating actions.

The risk register is reviewed by the Trustees in sections spread across the Trustee meetings throughout the year so that each section is reviewed annually. The Senior Leadership Team implements procedures designed to minimise any potential impact on the charity of the identified risks and these are reviewed at Trustee meetings, alongside potential new risks which may have been identified.

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FAIRFIELD RESIDENTIAL HOME A COMPANY LIMITED BY GUARANTEE

Trustees’ Annual Report (continued)

For the year ended 30 September 2021

Risk management contd.

The trustees are satisfied that the implementation of the risk register is the best way of remaining alert to the potential risks facing Fairfield Residential Home.

COVID - 19

We are happy to report that during the year under review there have been no deaths or serious illnesses amongst Fairfield's residents as a result of COVID-19. However, it has continued to have a significant impact on the running of the home.

In order to maintain a safe environment for both residents and staff, Fairfield's Senior Team has kept guidance and advice on Covid-19 under constant review and has made numerous changes to its protocols in response to changes in Government guidance and legislation, often at very short notice. This was particularly true in the case of the management of visiting and ensuring that Covid-19 testing was being done and recorded correctly and that visitors had been vaccinated where necessary. This has placed some strain on staff time and resources at all levels, but in March 2021, Fairfield was inspected by the Care Quality Commission for infection control and protection and received an exemplary report listing 11 areas of good practice from the Care Quality Commission; there were no areas of concern identified by the inspector (CQC report, 17 March 2021).

Throughout the pandemic, the team at Fairfield have been very conscious of the difficult balance between the need to minimise the risks from Covid-19 and the potential negative impact on physical and mental health resulting from limiting contact with friends and loved ones, so from the outset, efforts were made to support residents' wellbeing through other means when visiting in person was not possible. This included zoom calls, exercise classes via zoom with support from the Activities Team in the home, musicians playing in the garden while the residents listened inside the building, short drives out in the minibus when this was safe and within Government guidance, walks and other activities in the garden and additional one to one support from staff. We also erected a Perspex screen in the activities room inside the building to facilitate screened visits.

Our residents were keen to accept the vaccination once it became available and all residents in Fairfield are currently fully vaccinated. We also engaged in a thorough campaign to encourage staff to have the vaccination, including circulating information targeted towards a variety of ethnic groups, providing material in different formats and having a series of one to one meetings with members of the team who had particular concerns. This resulted in a very good uptake, but unfortunately a small number of staff felt unable to accept the vaccination and left Fairfield when the legislation was introduced to make this mandatory. This has been a loss to Fairfield and recruitment is challenging in the current climate, but we have had some success in filling vacancies and have built good relationships with reliable agencies to provide a stable group of additional staff where necessary.

Admission of new residents continued to be challenging during the early part of the year and this had a negative impact on income, although this improved as restrictions were lifted and a combination of our marketing efforts and Fairfield's good reputation helped us to increase resident numbers towards the end of the year. We also incurred additional costs, including staffing to manage safe visiting, the purchase of an outside visiting pod and a Perspex screen to facilitate visits, paid isolation for staff and staff costs associated with managing testing.

These costs have been funded to a large extent by grants from Oxfordshire County Council and HMRC totalling £78,316 for the year. Fairfield has carried out a review of projected income and expenditure for the following financial year that indicates a satisfactory level of cash and reserves. Sustainability and the goingconcern status are regarded, therefore, as unaffected by COVID–19.

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FAIRFIELD RESIDENTIAL HOME A COMPANY LIMITED BY GUARANTEE

Trustees' Annual Report (continued)

For the year ended 30 September 2021

Objectives and activities

Object of the Charity

The objects of the Charity as defined in the Articles of Association (revised 13th August 2013) are the relief of elderly persons who have ceased to be, or are not fully, employed in particular through the provision of accommodation, food, care and other facilities.

During the period of this report the Home had 42 registered bedrooms (including 2 assisted living places in a bungalow in the grounds), gardens, lounge, activity areas and a fully equipped dining area. Most residents are long stay. The number of residents during the year averaged 30 (2019 29) reaching a peak of 35 in March and reducing to 25 at the lowest point in August 2020.

Review of the Charity’s activities for the public benefit

The Trustees confirm that they have paid due regard to the Charity Commission’s guidance on public benefit in deciding what activities the Charity should undertake.

In order that members of the public can benefit from the activities of the Home the Trustees keep the monthly charges for residence as low as is consistent with the continuance of activities and provision of outstanding care. All applications from elderly persons who meet the Home’s admission criteria for health are considered. Applicants who are unable to meet the Home’s residential charges are able to make application to the local authority to meet all or part of them. Fairfield has developed a number of initiatives whereby non-residents and their carers can use some of the facilities of the home at no charge in order to provide relief for the nonresident and carer, including coffee mornings which continued via Zoom during the pandemic and the introduction, during this year, of 'Carers' Days' where an elderly person in the community is able to spend the day in Fairfield with their carer, who is also able to enjoy our facilities free of charge. Fairfield leads a group of professionals developing an innovative Elderly Persons Information Community (EPIC) for the benefit of residents in Summertown and wider north Oxford.

Financial review, investment policy and reserves

The Charity made an unrestricted surplus of £46,654 for the year (2020 surplus £8,144). At the end of the financial year free reserves amounted to £551,292 excluding the building reserve, which is not represented by liquid assets (2020 £513,791). The Trustees consider that the charity should aim for a level of free reserves equivalent to six months of expenditure excluding depreciation, which would amount to approximately £823,000. Management accounts for the early part of the current year indicate a healthy surplus, so although achieving the target level of reserves has been hampered by the pandemic, progress is being made and it is considered achievable in the medium term. In the meantime the Trustees continue to keep the position under close scrutiny.

Investment Policy

The Charity’s money is held in deposit accounts with COIF and Handelsbanken. The Board of Trustees consider this to give an adequate return consistent with the need to keep funds available to meet future costs and contingencies and due to the uncertain nature and inherent risk of the stock market.

Future plans

Fairfield's strategic planning exercise, Fairfield into the Future, has been delayed partly as a result of the challenges of Covid-19, but this will be developed further over the coming months. In the meantime, we are working to increase resident numbers and to ensure that we have enough staff in place and trained to provide an excellent standard of care. We are also developing a plan to expand the Activities Team to provide an extended service seven days a week.

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FAIRFIELD RESIDENTIAL HOME A COMPANY LIMITED BY GUARANTEE

Trustees' Annual Report (continued)

For the year ended 30 September 2021

Future plans cont.

We are currently in consultation with University College who will shortly begin a project to build additional student accommodation adjacent to the Fairfield site. Our aim is to help our residents to feel engaged with the progress of the development and with the help of the College, to enable them to benefit where possible from the finished project, with access to a new coffee shop and the College gardens and greater interaction with the students.

Fairfield is also conscious of its environmental responsibilities and has identified a consultant to produce an initial report to identify the steps we will need to take to reach net zero carbon that will form the starting point for our future plans to minimise our environmental impact.

Trustees’ responsibilities in relation to the financial statements

The Trustees (who are also directors of Fairfield Residential Home for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Charity law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the Charity at the end of the financial period and of its income or expenditure for the financial period. In doing so the trustees are required to:

The trustees are responsible for maintaining proper accounting records, which disclose with reasonable accuracy at any time the financial position of the charity, and to enable them to ensure that the accounts comply with the Companies Act 2006. The trustees are also responsible for safeguarding the charity’s assets and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In accordance with company law, as the company’s directors, we certify that:

By order of the Board of Trustees

F A Shickle

Company Secretary 27th May 2022

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FAIRFIELD RESIDENTIAL HOME

Independent Auditors’ Report to the members of Fairfield Residential Home

Opinion

We have audited the financial statements of Fairfield Residential Home (the ‘charitable company’) for the year ended 30th September 2021 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

 give a true and fair view of the state of the charitable company’s affairs as at 30th September 2021, and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;

 have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

 have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

· the directors’ use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or

· the directors have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the company’s ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Trustees' Annual Report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

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FAIRFIELD RESIDENTIAL HOME

Independent Auditors’ Report to the members of Fairfield Residential Home (continued)

Other information cont.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

 adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

 the financial statements are not in agreement with the accounting records and returns; or

 we have not received all the information and explanations we require for our audit; or

 the trustees were not entitled to prepare the financial statements in accordance with the small companies’ regime and take advantage of the small companies’ exemptions in preparing the directors’ report and from the requirement to prepare a strategic report.

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 6, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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FAIRFIELD RESIDENTIAL HOME

Independent Auditors’ Report to the members of Fairfield Residential Home (continued)

Responsibilities of trustees cont.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

• Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias;

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of noncompliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Andrew Rodzynski FCA Senior Statutory Auditor For and on behalf of Wenn Townsend, Statutory Auditor

27th May 2022

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FAIRFIELD RESIDENTIAL HOME A COMPANY LIMITED BY GUARANTEE

Statement of Financial Activities Including income and expenditure account

For the year ended 30 September 2021

Note
Income
Income from charitable activities
Residents’ and visitors’ fees
Income from generated funds
Investment income
Donations
Grants
Total income
Expenditure
Cost of raising funds
1
Charitable expenditure
Costs of operating Home
2
Other
3
Total expenditure
Net income / (expenditure)
Transfers between funds:
Unrestricted general funds – transfers
to designated funds
Unrestricted designated funds –
transfer to Building Reserve
Unrestricted designated funds –
transfer to Buildings Maintenance Fund
Total funds brought forward
Total funds carried forward		 Unrestricted
Funds
£
1,714,423
26
0
2,124
1,716,573
6,370
1,582,023
80,245
1,668,638
47,935
0
-145,953
9,153
136,800
7,662,882
7,710,817		 Restricted
Funds
£
0
0
7,690
78,316
86,006
0
85,742
0
85,742
264
0
0
0
1,086
1,350		 Total
2021
£
1,714,423
26
7,690
80,440
1,802,579
6,370
1,667,765
80,245
1,754,380
48,199
-145,953
9,153
136,800
7,663,968
7,712,167
0.00		 Unrestricted
Funds
£
1,728,219
1,487
946
6,818
1,737,470
20,530
1,682,206
26,590
1,729,326
8,144
-85,891
-50,909
136,800
7,654,738
7,662,882		 Restricted
Funds
£
0
0
3,391
60,541
63,932
0
64,213
0
64,213
-281
0
0
0
1,367
1,086		 Total
2020
£
1,728,219
1,487
4,337
67,359
1,801,402
20,530
1,746,419
26,590
1,793,539
7,863
-85,891
-50,909
136,800
7,656,105
7,663,968

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FAIRFIELD RESIDENTIAL HOME A COMPANY LIMITED BY GUARANTEE

Balance Sheet

30 September 2021

Note
Fixed assets
Leasehold property, furniture and fittings
5
Fixed asset investments
6
Current assets
Cash at bank and in hand
Debtors
7
Deduct: Current Liabilities
Creditors - amounts falling due within one year
8
Net current assets
Total assets less current liabilities
Net assets
Represented by:
Unrestricted general funds
Unrestricted designated funds
- Building Reserve
10
- Buildings Maintenance Fund
10
Restricted funds
9		 2021
2020
£
£
£
£
7,183,043
7,195,293
1
1
7,183,044
7,195,294
648,475
602,193
101,471
88,298
749,946
690,491
-220,823
-221,817
529,123
468,674
7,712,167
7,663,968
7,712,167
7,663,968
142,173
240,191
7,158,244
7,149,091
410,400
273,600
1,350
1,086
7,712,167
7,663,968
0.00

0.00

The accounts have been prepared in accordance with the special provisions part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.

These financial statements were approved by the Board of Trustees on 27th May 2022 and signed on its behalf by:

Dr J J Guy OBE

Chairman

Company registration number 05639165 (England and Wales)

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FAIRFIELD RESIDENTIAL HOME A COMPANY LIMITED BY GUARANTEE

Cash Flow Statement

30 September 2021

Reconciliation of operating result to net cash outflow from operating activities

Operating surplus / (deficit) (see below)
Depreciation
Decrease/(increase) in debtors
Increase in creditors
Net cash inflow / (outflow) from operating activities
Cash flow statement
Net inflow / (outflow) from operating activities
Returns on investments and servicing of finance
Investment income
Capital expenditure refunded / (expended)
Increase / decrease in cash
Reconciliation of net cash flow to movement in net debt
Net funds at 1 October 2020
Increase / decrease in cash
Net funds at 30 September 2021
Reconciliation of net movement in funds to operating surplus
Net movement in funds per SOFA
Less: Investment Income
Operating surplus / (deficit)		 2021
£
48,173
23,209
-13,173
-994
57,215
57,215
26
-10,959
46,282
0.000
602,193
46,282
648,475
0
0
48,199
-26
48,173		 2020
£
4,076
23,061
33,392
41,384
101,913
101,913
3,787
-156,532
-50,832
653,025
-50,832
602,193
7,863
-3,787
4,076

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FAIRFIELD RESIDENTIAL HOME A COMPANY LIMITED BY GUARANTEE

Accounting policies

For the year ended 30 September 2021

The following accounting policies have been used consistently in dealing with items which are considered material to the Home’s financial statements.

Basis of preparation

The accounts are prepared under the historical cost convention. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

The Charity constitutes a public benefit entity as defined by FRS 102.

Going Concern

The Trustees have considered the charity's current financial position and future projections and are confident that the charity can operate for at least 12 months from the date of signature of the accounts. The accounts are therefore prepared on a going concern basis.

Income

Income is included in the accounts when entitlement is reasonably certain, receipt is probable and the amount can be measured reliably.

Expenditure

All expenditure is accounted for on an accruals basis and has been classified under appropriate headings. Expenditure is recognised when there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably.

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity.

Fixed assets and depreciation

In accordance with charity rules, all items of a capital nature have been classified as additions to fixed assets. The buildings are subject to regular refurbishment and maintenance, and, in light of the foregoing, no depreciation is provided because any charge is considered by the trustees to be immaterial. Depreciation of the other fixed assets is provided as follows:

Fixtures and fittings

25% straight line

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FAIRFIELD RESIDENTIAL HOME A COMPANY LIMITED BY GUARANTEE

Accounting policies (continued)

For the year ended 30 September 2021

Charity funds

 The Charity’s unrestricted funds may be spent for the furtherance of the Charity’s objects at the discretion of the trustees.

 The Charity’s restricted funds may be used in accordance with specific restrictions imposed by donors.

Pensions

The Home contributes to personal defined contribution pension schemes on behalf of certain of its employees. The employer’s contributions are charged against the income and expenditure account in the year in which they are made.

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid after taking account of any trade discounts due.

Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity.

Creditors

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.

Irrecoverable VAT

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

Government grants

The charity received government grants in respect of the Coronavirus Job Retention Scheme, Statutory Sick Pay funding, Infection Control and Rapid Testing. These grants are recognised using the accruals model and as such are recorded in the SOFA in the period in which the charity is entitled to such grants.

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FAIRFIELD RESIDENTIAL HOME A COMPANY LIMITED BY GUARANTEE

Notes to the accounts

For the year ended 30 September 2021

----- Start of picture text -----
1. Cost of raising funds 2021 2020
£ £
Advertising and marketing 6,370 20,530
0.00 0
2. Costs of operating Home Unrestricted Restricted 2021 2020
£ £ £ £
Catering 223,571 0 223,571 221,452
Rent, water and Council Tax 2,712 0 2,712 5,125
Light and heat 30,130 0 30,130 16,761
Insurance 9,194 0 9,194 7,161
Repairs and maintenance 40,171 1,224 41,395 36,512
Repairs to buildings 18,867 9,250 28,117 20,402
Laundry and household 26,110 0 26,110 56,555
Amenities 60,677 0 60,677 45,486
Wages and national insurance 984,836 74,192 1,059,028 1,059,393
Pension 26,590 275 26,865 22,313
Staff costs and temporary staff 60,510 801 61,311 142,892
Postage and stationery 2,800 0 2,800 10,217
Telephone 6,082 0 6,082 6,565
Software licences and publications 15,841 0 15,841 14,033
Registration fees 5,444 0 5,444 5,779
Professional services 39,157 0 39,157 21,625
Depreciation and loss on sale 23,209 0 23,209 23,061
1,575,901 85,742 1,661,643 1,715,332
Governance Costs (all unrestricted)
Audit fees 5,340 0 5,340 6,810
Other professional fees 0 0 0 23,477
Bank charges 782 0 782 800
6,122 0 6,122 31,087
1,582,023 85,742 1,667,765 1,746,419
0.00 0
3. Other charitable expenditure
Public benefit subventions 80,245 26,590
4. Wages and salaries
Average number of employees (full time equivalent):
Care and domestic 27 31
Maintenance 1 1
Administration 6 6
34 38
----- End of picture text -----

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FAIRFIELD RESIDENTIAL HOME A COMPANY LIMITED BY GUARANTEE

Notes to the accounts (continued)

For the year ended 30 September 2021

4. Wages and salaries (cont.)
Staff costs were as follows:
Wages and salaries
Social security costs
Pension costs		 2021
£
1,001,784
57,244
26,865
1,085,893		 2020
£
985,010
74,383
22,313
1,081,706

0

No employee was paid more than £60,000 in the current or preceding year.

5. Fixed assets

Cost
At 1 October 2020
Additions
Disposals
At 30 September 2021
Depreciation
At 1 October 2020
Charge for the year
Depreciation on Disposals
At 30 September 2021
Net book value
At 30 September 2021
At 30 September 2020		 Leasehold
property
£
7,149,091
9,153
0
7,158,244
0
0
0
0
7,158,244
7,149,091		 Fixtures and
fittings
£
101,000
1,806
0
102,806
54,798
23,209
0
78,007
24,799
46,202		 Total
£
7,250,091
10,959
0
7,261,050
54,798
23,209
0
78,007
7,183,043
0.000
7,195,293

The leasehold property has a term of 199 years which commenced on 4 February 2016.

6. Fixed asset investments

Investment in subsidiary
Cost
At 1 October 2020 and 30 September 2021
Net book value
At 30 September 2020 and 30 September 2021		 2021
£
1
1		 2020
£
1
1

Investment in subsidiary consists of a 100% holding in the ordinary share capital of New Fairfield Development Company Limited (registration number 10479059). At 30 November 2021, the aggregate capital and reserves of the company amounted to £1 and the loss for the year amounted to £487 for current year (2020: loss £2,127).

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FAIRFIELD RESIDENTIAL HOME A COMPANY LIMITED BY GUARANTEE

Notes to the accounts (continued)

For the year ended 30 September 2021

7. Debtors

Fees and other payments recoverable
Prepayments
8. Creditors – amounts falling due within
Trade creditors
PAYE and national insurance
Other creditors and accruals
Residents’ deposits
9. Restricted funds
Staff Fund
HMRC Job Retention Scheme
HMRC SSP Funding
OCC Infection Control Grant
OCC Rapid Testing Grant		 one year
Balance at
30/09/2020
£
1,086
0
0
0
0
1,086		 Income
YE
30/09/2021
£
7,690
12,557
-33
40,699
25,093
86,006
0.000		 2021
£
75,548
25,923
101,471
0
2021
£
69,645
16,243
79,677
55,258
220,823
0.00
Expenditure
30/09/2021
£
7,426
12,557
-33
40,699
25,093
85,742
0.000		 2020
£
69,832
18,466
88,298
0
2020
£
62,877
16,953
58,058
83,929
221,817
Balance at
30/09/2021
£
1,350
0
0
0
0
1,350
0

The staff fund represents restricted funds that have been donated to provide benefits paid to staff within HM Revenue and Customs limits.

10. Unrestricted designated funds

The Building Reserve represents the cost of construction of the home (see note 5 above).

The buildings maintenance fund is a fund established to provide for the future replacement of major plant and component parts as they reach the end of their economic lives. The contribution rate to the fund has been calculated by Chartered Quantity Surveyors and is based on the cost of the individual elements at 2018 prices adjusted for price inflation.

11. Taxation status

The Home is exempt from taxation on its charitable activities as a registered charity.

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FAIRFIELD RESIDENTIAL HOME A COMPANY LIMITED BY GUARANTEE

Notes to the accounts (continued)

For the year ended 30 September 2021

12. Trustees’ remuneration

The trustees received no remuneration or reimbursement of expenses in the current or preceding year under review.

13. Related Parties

A construction and project management contract was signed on 6 December 2016 between the Charity and New Fairfield Development Company Limited. New Fairfield Development Company Limited is a wholly owned subsidiary of the Charity and was formed on 15 November 2016. Fairfield Residential Home has guaranteed the New Fairfield Development Company’s liabilities. The guarantee is unlimited, but at 30[th] November 2021 the company's only creditor was Fairfield Residential Home.

14. Legal status

Fairfield Residential Home is a charitable company limited by guarantee and has no share capital. The liability of each member in the event of a winding up is limited to £10.

15. Analysis of net assets between funds

Fixed assets
Cash and current investments
Other current assets / liabilities
Total
Fixed assets
Cash and current investments
Other current assets / liabilities
Total		 General
funds
2021
£
24,799
330,481

-213,107
142,173
0.00
General
2020
£
46,203
327,507
-133,519
240,191		 Designated
funds
2021
£
7,158,244
410,400
0
7,568,644
0.00
Designated
2020
£
7,149,091
273,600
0
7,422,691		 Restricted
funds
2021
£
0
9,066
-7716
1,350
0
Restricted
2020
£
0
1,086
0
1,086		 Total
2021
£
7,183,043
749,947
-220,823
7,712,167
0.00
Total
2020
£
7,195,294
602,193
-133,519
7,663,968

16. Post balance sheet events

There have been no significant post balance sheet events

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