|||Page||
|---|---|---|---|
|Strategic Report|1|to|3|
|Report ofthe Trustees|4|to|6|
|Report ofthe Independent
Auditors|7|to|10|
|Consolidated
Statement ofFiaaaclal Activities||||
|Consolidated
Balance Sheet||||
|Charitable
Company
Balance Sheet||13||
|Consolidated
Cash Flow Statement||14||
|Notes to the Consolidated
Cash Flow Statement||||
|Notes to the Consolidated
Fiaaucial Statements|16|to|33|
##
##
##
##
##
||||2021|2020|2019|
|---|---|---|---|---|---|
|Total incoming resources|||10,208,854|9,889,666|12,166,432|
|Unrestricted|incoming|resources|8,559,240|8,343,941|11,735,484|
|Unrestricted|surplus||179,618|156,331|762,854|
##
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##
||||for the Year E|nded 31Mar|ch 2021||||
|---|---|---|---|---|---|---|---|---|
||||||||31.3.21|31.3.20|
||||Unrestricted|Restricted|Endowment||Total|Total|
|||fund
Notes||funds
f|fund||fundsI|funds
8|
|INCOME AND ENDOWMENTS|||||||||
|FROM|||||||||
|Donations
and legacies||2|1,737|48,041|||49,778|192,274|
|Charitable
activities||5|||||||
|Drug and alcohol treatment
Residential
Services
Elderly|services||8,197,178|1,475,097
116,515||8,197,178
1,475,097
116,515||7,952,372
1,192,380
135,901|
|Other trading
activities
Investment
income
Other income|||114,079
240,221
6025|9,961|||124,040
240,221
6
25|83,042
266,016
67 681|
|Total|||8,559,240|1,649,614||10,208,854||9,889,666|
|EXPENDITURE ON|||||||||
|Raising funds||6|44,827|1,910|||46,737|51,621|
|Charitable
activities||7|||||||
|Drug and alcohol treatment
Residential
Services
Elderly|services||8,334,795|69,673
1,545,522
117,144||8,404,468
1,545,522
117,144||8,425,869
1,273,388
168,355|
|Other||||||||19750|
|Total|||8,379,622|1,734,249||10,113,871||9,938,983|
|NET|||||||||
|INCOME/(EXPENDITURE)
Transfers
between fuads||22|179,618
~33953)|(84,635)
45203|~50)||94,983|(49,317)|
|Other recognised
gains/(losses)|||||||||
|Gains on revaluation offixed assets||||||||30000|
|Net movement
in fuads|||145,665|(39,432)|(11,250)||94,983|(19,317)|
|RECONCILIATION
OF II'UNDS|||||||||
|Total funds brought
forward|||3,086,267|1,407,839|157,500|4,651,606||4,670,923|
|TOTAL FUNDS CARRIED
FORWARD|||~33)93|1368407|146250|4|6589|465160|
##
##
|||||||||31.3.21|31.3.20|
|---|---|---|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|||Endowment|Total|Total|
||||fund||funds||fund|funds|funds|
|||Notes||||||||
|FIXEDASSETS||||||||||
|Tangible assets
Investment
property||15
16|232,218
2405463|1,116,152|||~146 50|1,348,370
2 551713|1,436,593
2 500 655|
||||2,637,681|1,116,152|||146350|3,900,083|3,937,248|
|CURRENT ASSETS||||||||||
|Debtors
Cash at bank and in band||17|2,165,478
3795722 ~25|||255||2,165,478
4047977|2,198,824
1870995|
||||5,961,200||252,255|||6,213,455|4,069,819|
|CREDITORS||||||||||
|Amounts
falling due within one year||18|(4,764,055)|||||(4,764,055)|(3,197,580)|
|NET CURRENT ASSETS|||1 197145||252|255||1449
00|8 22|
|TOTAL ASSETSLESS||||||||||
|CURRENT LIABILITIES|||3,834,826|1,368,407|||146,250|5,349,483|4,809,487|
|CREDITORS||||||||||
|Amounts
falling due after more than||||||||||
|one year||19|(501,894)|||||(501,894)|(146,881)|
|PROVISIONS FOR||||||||||
|LIABILITIES|21||(101,000)|||||(101,000)|(11,000)|
|NET ASSETS|||3 231 932|1|3|07|146250|7 0589|, 4 651 606|
|FUNDS|22|||||||||
|Unrestricted
funds
Restricted funds
Endowment
funds||||||||3,231,932
1,368,407
46250|3,086,267
1,407,839
157500|
|TOTALFUNDS||||||||4.746.559|4 651 606|
|financia
statements
|wein.spiv|fty tlie|d ofTrustees|and authorised|||for issue onr..~..|Z-(
...................(............and were||
##
##
||||31Ma|rch 2021||||
|---|---|---|---|---|---|---|---|
|||||||31.3.21|31.3.20|
||||Unrestricted|Restricted|Endowment|Total|Total|
|||Notes|fund
f|funds|fundf|funds|funds|
|FIXEDASSETS||||||||
|Tangible assets
Investment
property||15
16|232,218
1 30000|1,116,152||1,348,370
1 430,000|1,385,535
1430000|
||||1,622,218|1,116,152||2,778,370|2,815,535|
|CURRENT ASSETS||||||||
|Debtors
Cash at bank and in hand||17|3,071,755
3 511 126|252 255||3,071,755
3763381|3,247,704
1,475 948|
||||6,582,881|252,255||6,835,136|4,723,652|
|CREDITORS||||||||
|Amounts
falling due within one year||18|(4,758,314)|||(4,758,314)|(3,156,859)|
|NET CURRENT ASSETS|||1 824 567|252 25||2 076 302|1
793|
|TOTAL ASSETSLESS||||||||
|CURRENT LIABILITIES|||3,486,785|1,368,407||4,855,192|4,382,328|
|CREDITORS||||||||
|Amounts
falling due afier more than||||||||
|one year||19|(501,894)|||(501,894)|(146,881)|
|NKT ASSETS|||2984891|1 368407||4353298|4 23
447|
|FUNDS|22|||||||
|Unrestricted
funds
Restricted funds
Endowment
funds||||||2,984,891
1,368,407|2,845,408
1,390,039|
|TOTALFUNDS||||||~4353
98|4.235 447|
|The financial
statements|were approved|by the|Board ofTrustees|and authorised|for issue on ...|.........................A........and were||
|signed on its beha)Qy'||||||||
|tebi -
rustee||||||||
##
|||||Consolidated|Cash Flow Statement||
|---|---|---|---|---|---|---|
|||||for the Year|Ended 31March 2021||
||||||31.3.21|31.3.20|
|||||Notes||f|
|Cash flows from operating|activities||||||
|Cash generated
from operations|||||~2176982|117856|
|Net cash provided
by operating||activities|||~2176982|~117856|
|Cash flows from investlag|activities||||||
|Sale oftangible fixed assets||||||~147528|
|Net cash provided
by investing||activities||||~147528|
|Chaage in cash and cash equivalents|||la the||||
|reporting
period
Cash and cash equivalents|at|tbe beginniag||of|2,176,982|265,384|
|the reporting
period|||||~1870995|1605611|
|Cash and cash equivalents|at|the end|ofthe||||
|reporting
period|||||4047977|1870995|
##
##
|||Notes to the Consolidated
Ca
for the Year Ended 31|Notes to the Consolidated
Ca
for the Year Ended 31|Notes to the Consolidated
Ca
for the Year Ended 31|sh Flow Statement
March 2021|||
|---|---|---|---|---|---|---|---|
|RECONCILIATION||OF NET INCOME/(EXPENDITURE)|||TO NET CASH FLOW|FROM OPERATING||
|ACTIVITIES||||||||
|||||||31.3.21|31.3.20|
||||||||f|
|Net income/(expenditure)
Finsacial Activities)
Adjustments
for:|||for tbe reportiag|period (as per the|Statement of|94,983|(49,317)|
|Depreciation
charges
Loss on disposal offixed assets||||||37,166|49,934
19,750|
|Decrease/(increase)
Increase in creditors|in|debtors||||33,346
~20 1I487|(537,636)
~635 125|
|Net cash provided|by|operations||||2176982|~117856|
|ANALYSIS OF CHANGES IN NET FUNDS||||||||
||||||At 1.4.20|Cash flow|At31.3.21|
|||||||f|f|
|Net cash||||||||
|Cash at bank snd in|hand||||I 870995|~2176982|~4047 977|
||||||~1870995|~2176982|~4047 977|
|Total|||||~1870995|~2176982|~4047 977|
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|DONATIONS
AND LEGACIES|||
|---|---|---|
||31.3.21
f|31.3.20|
|Donations
Capital grants|1,737
48,041|1,093
~191 181|
||~49 778|~192274|
||||||||31.3.21
f|31,3.20
f|
|---|---|---|---|---|---|---|---|---|
||Capital Grants||||||48 041|191 181|
|3.|OTHER TRADING ACTIVITIES||||||||
||||||||31.3.21|31.3.20|
||Miscellaneous|income|||||124040|f,
83,042|
|4.|INVESTMENT INCOME||||||||
||||||||31.3.21|31.3.20|
||||||||f|f.|
||Rents received||||||~240
1|~266 016|
|5.|INCOME FROM||CHARITABLE ACTIVITIES||||||
||||||||31.3.21|31.3.20|
|||||Activity|||||
||Service Level Agreements
Cairn House
Service Level Agreements
Alfriston
day centre|||Drug and
Residential
Residential
Elderly|alcohol treatment
Services
Services|services|8,197,178
1,392,251
82,846
116515|7,952,372
1,131,534
60,846
135901|
||||||||~9788790|9,280,653|
||RAISING FUNDS||||||||
||Raising donations||and legacies||||||
||||||||31.3.21|31.3.20|
||Staffcosts
Premises costs
Telephone||||||12,750
32,077
1,910|12,750
35,845
3,026|
||||||||~46 737|~51 621|
##
##
##
||||||||Direct|Support||
|---|---|---|---|---|---|---|---|---|---|
||||||||Costs (see|costs (see||
||||||||note 8)|note 9)|Totalsf|
||Drug and alcohol treatment
Residential
Services|||services|||8,114,519
1,507,892|289,949
37,630|8,404,468
1,545,522|
||Elderly||||||113696|3448|17 144|
||||||||9736 10|331027|1~06, 3|
|8.|DIRECT COSTS OF||CHARITABLE ACTIVITIES|||||||
|||||||||31.3.21|31.3.20|
||Staffcosts
Leasing ofpremises
Premises costs|and equipment||||||7,635,069
3,197
682,929|7,188,881
3,197
922,913|
||Medical supplies|||||||1,160,329|956,021|
||Catering costs|||||||77,355|98,817|
||Training
and staff costs
Office expenses
Travel &subsistence|||||||22,187
108,170
9,705|40,385
137,257
172,924|
||Client costs||||||||68,134|
||Dilapidations
provision
Depreciation|||||||~37 166|10,293
31,398|
|||||||||~9736107|~9630
0|
|9.|SUPPORT COSTS|||||||||
|||||||||Governance||
|||||||Management|Finance
f|costs
f.|Totals|
||Drug and alcohol treatment|||services||187,889|99,560|2,500|289,949|
||Residential
Services|||||37,630|||37,630|
||Elderly|||||3 448|||~3448|
|||||||~228 967|~99 560|2 500|~331 027|
||Support costs, included||in the above,||are as follows:|||||
|||||||||31.3.21|31.3.20|
||||||Drug and|||||
||||||alcohol|||||
||||||treatment|Residential||Total|Total|
||||||services|Services|Elderly|activities|activities
f|
||Wages
Hire ofplant and machinery
Licences ®istration
Office expenses
Legal &professional
fees
Audit &accountancy||||5,500
4,222
6,034
31,638
8,257
14,000|3,551
3,956|256
1,430|5,500
4,222
9,841
37,024
8,257
14,000|5,500
4,739
11,745
39,840
69,157
12,700|
||Insurance,
health &safety
Finance Charges
Travel &subsistence
Depreciation oftangible and||||107,294
3,460
7,484|30,066
57|1,762|139,122
3,517
7,484|67,528
4,124
6,795|
||heritage assets||||||||12,764|
||Pensions||||~99 560|||99,560||
||Canied forward||||287,449|37,630||328,527|234,892|
##
##
##
##
||31.3.21|31.3.20|
|---|---|---|
|||f.|
|Auditors'
remuneration|2,500|2,500|
|Depreciation
- owned assets
Hite ofplant and machinery
Deficit on disposal offixed assets|37,166
7,419|49,935
7,936
~19 750|
||31.03.21|31.03.20|
|||f|
|Depreciation
- owned assets|37,166|49,934|
|Loss on assets
Leasing ofprem(ses
and equipment
Auditor's
remuneration|7,419
16,500|(19,750)
7,936
13,000|
|Pensions
Interest payable and other charges|167,545
3 916|170,194
~3916|
##
##
|||31.3.2021|31.3,2020|
|---|---|---|---|
|Wages
Social|86salaries
security costs|7,074,436
411,338|6,625,318
411,619|
|Other|pension costs|167545|94|
|||7653319|7,207,131|
|The average|monthly|number ofemployees|during the year was as follows:|||
|---|---|---|---|---|---|
|||||31.3.21|31.3.20|
|Charitable
activities||||229|234|
|Management|and administration|||31|31|
|||||260|265|
##
##
##
|The number ofemployees|who|se employ|ee benef|its (excluding
employe|r pension costs) e|xceeded f60,000|xceeded f60,000|was:|
|---|---|---|---|---|---|---|---|---|
|||||||31.3.21||31.3.20|
|f60,001 - f70,000|||||||1|1|
|The total employee
benefits
f303,318).||including|pension|contributions
of the|key management|personnel|were|f323,253 (2020:|
|COMPARATIVES FOR|THE STATEMENT|||Oli' FINANCIAL ACTIVITIES|||||
|||||Unrestricted|Restricted|Endowment||Total|
|||||fund|funds|fundf||funds|
|INCOME AND ENDOWMENTS FROM|||||||||
|Donations
and legacies||||1,093|191,181|||192,274|
|Charitable
activities|||||||||
|Drug and alcohol treatment|services|||7,952,372||||7,952,372|
|Residential
Services|||||1,192,380|||1,192,380|
|Elderly|||||135,901|||135,901|
|Other trading
activities||||56,779|26,263|||83,042|
|Investment
income
Other income||||266,016
~67681||||266,016
~67681|
|Total||||8,343,941|1,545,725|||9,889,666|
|EXPENDITURE ON|||||||||
|Raising funds||||51,621||||51,621|
|Charitable
activities|||||||||
|Drug and alcohol treatment
Residential
Services|services|||8,188,159|237,710
1,273,388|||8,425,869
1,273,388|
|Elderly|||||168,355|||168,355|
|Other|||||~19750|||~19750|
|Total||||8,239,780|1,699,203|||9,938,983|
|NET INCOME/(EXPENDITURE)||||104,161|(153,478)|||(49,317)|
|Transfers between
funds||||~22 170|~10920)|~ll|250)||
|Other recognised
gains/(losses)
Gains on revaluation
offixed assets||||30,000||||~30000|
|Net movement
ia funds||||156,331|(164,398)|(11,250)||(19317)|
|RECONCILIATION
OF FUNDS|||||||||
|Total fuads brought forward||||2,929,936|1,572,237|168,750||4,670,923|
|TOTAL FUNDS CARRIED FORWARD||||~3086 67|~1407839|~157500||~4651 606|
##
##
##
##
|||||Total|Total|Total|
|---|---|---|---|---|---|---|
|||||2021||2020|
|||||||f|
|Total income resources
Total resources expended
Net gains on investments||||10,107,582
(9,989,731)||9,695,652
(9,870,934)
30,000|
|Net surplus/(deficit)||||117,851||(145,282)|
|Funds:|||||||
|At I April 2019||||4333447||4339939|
|At 31March 2020||||~4333|95 ~45447||
|TANGIBLE FIXEDASSETS|||||||
||||Fixtures||||
||Freehold|Long|and|Motor|||
||property|leasehold|ftttings
f|vehicles||Totals
f|
|COST|||||||
|At I April 2020
Impairments
Reclassification|1,464,433|245,481|1,091,606
(51,058)
I|51,589||2,853,109
(51,058)
I|
|At 31 March 2021|~1464433|~245 481|~1040549|~5I 589||~2802052|
|DEPRECIATION|||||||
|At I April 2020
Charge for year|337,089
28,370|6,016
~3008|1,021,822
5,788|51,589||1,416,516
37,166|
|At 31March 2021|~365459|9,024|~1027610|51589||~1453682|
|NET BOOKVALUE|||||||
|At 31March 2021|~1098974|~236457|~12939|||~I348 70|
|At 31March 2020|~II27344|~239465|69784|||~1436593|
##
##
##
||||Fixtures and|||
|---|---|---|---|---|---|
||Frcehotdproperty|LongLeasehold
I|fixtures
6|Motor Vehicles|Total|
|Cost or Valuation||||||
|At 1 April 2020
Additions|1,464,433|245,481|755,784|51,589|2,517,287|
|Disposal s||||||
|At 31March 2021|I 464433|245 481|755 784|51589|2517287|
|Depreciation||||||
|At
1 April 2020
Charge
Eliminated|337,089
28,370|6,016
3,008|737,058
5,788|51,589|1,131,752
37,166|
|At 31 March 2021|365459|9024|742 845|51 589|I 168917|
|Net Book Value||||||
|At 31 March 2020|I 127344|236457|12939||1 348370|
|At 31 March 2021|I 098 974|239465|18726|0|1,385 535|
|Charitable
Company||||||
|DEPRECIATION||||||
##
|INVESTMENT PROPERTY||
|---|---|
|FAIR VALUE||
|At I April 2020
Reversal ofimpairments|2,500,655
~51058|
|At 31March 2021|2,551,713|
|NET BOOKVALUE||
|At 31March 2021|~2551 713|
|At 31March 2020|25006SS|
|Charitable
Company||
|MARKET VALUE||
|As at I April 2020
Revaluation|1,430,000|
|As at 31 March 2021|~1430000|
|NET BOOK VALUE||
|At 31March 2021|~1430000|
|At 31March 2020|~1400000|
##
##
##
##
##
|DEBTORS:AMOUNTS FAL|LING DUE WITHIN ONE Y|EAR|||
|---|---|---|---|---|
||||31.3.21
f|31.3,20|
|Trade debtors
Other debtors
Prepayments
and accrued income|||1,969355
156,014
40 109|1,994,351
164320
~40 153|
||||~2165478|~2198824|
|Charitable
Company|||||
||||31.3.21
f|31.3.20
f|
|Trade debtors|||1,969,355|1,984,602|
|Amounts
owed by group undertakings
Other debtors|||906,277
156,014|1,058,629
164,320|
|Prepayments
and accrued income|||0
09|40 153|
||||3071
55|3n7 704|
|Included within other debtors, in|both the Omup and Charitable|Company,|isf79,466(2020:f80,840)due from Kaleidosco||
|(Kingston) Housing Association|Limited.||||
|CREDITORS: AMOUNTS FALLING DUE WITHIN ONE||YEAR|||
||||31.3.21|31.3.20|
||||f.||
|Trade creditors
Social security and other taxes|||628,436
108,512|1,479,636
114,329|
|Other creditors|||239,050|374,566|
|Accruals and deferred income|||3788057|~1229049|
||||~4764 055|~3197|
|Charitable
Company|||||
||||31.3.2021|31.3.2020|
|||||f|
|Trade creditors
Social security and other taxes|||627,411
108,512|1,479,636
114,329|
|Other creditors
Accruals and deferred income|||239,050
~305|374,566
I Z!9049|
||||4758314|~3107 80|
##
##
##
|CREDIT|ORS: AMOUN|TS FALLING DUE|AFTER M|ORE THAN ONK YEAR|||
|---|---|---|---|---|---|---|
||||||31.3.21|31.3.20|
||||||f|f.|
|Other creditors|||||~501 894|~146881|
|Charitable|Company||||||
||||||31.3.2021|31.3.2020|
|Other creditors|||||81894|14!881|
||||||8811194|144881|
|LEASING AGREEMENTS|||||||
|Minimum|lease payments|under non-cancellable|operating|leases fall due as follows:|||
||||||31.3.21|31.3.20|
|Within one|year||||131,100|72,730|
|Between one and five years|||||492,500|130,075|
|In more than five years|||||45,375||
||||||~668 975|~202 805|
|PROVISIONS FOR LIABILITIES|||||||
||||||31.3.21|31.3.20|
||||||f||
|Provisions|||||~101 000|~11000|
##
##
|MOVEMEN|T IN FUNDS|||||
|---|---|---|---|---|---|
||||Net|Transfers||
||||movement|between|At|
|||At 1.4.20|in funds|funds|31.3.21|
|||f||||
|Unrestricted|funds|||||
|General fund||3,086,267|179,618|(33,953)|3,231,932|
|Restricted funds||||||
|Residential
Services|||(62,204)|62,204||
|Elderly
Asset Fund||1,362,389|(799)
(21,632)|799|1,340,757|
|Legacy Income
Public Health England Grant||27,650
~17800||~17800|27,650|
|Endowment|funds|1,407,839|(84,635)|45,203|1,368,407|
|Wirral PCT||157,500||(11,250)|146,250|
|TOTAL FUNDS||~4651 606|94983||4746589|
##
##
##
##
|||||||Incoming|Resources|Movement|
|---|---|---|---|---|---|---|---|---|
|||||||resources
f|expended
f.|in funds
f|
|Unrestricted|funds||||||||
|General fund||||||8,559,240|(8,379,622)|179,618|
|Restricted funds|||||||||
|Residential
Services||||||1,485,059|(1,547,263)|(62,204)|
|Elderly
Asset Fund||||||116,514
4804)|(117,313)
~69673)|(799)
~2)632)|
|||||||1649634|~I, 34,24|~84,635|
|TOTAL FUNDS||||||10208 854|~)0))3871)|94983|
|Comparatives|for movement|||in fuads|||||
|||||||Net|Transfers||
|||||||movement|between|At|
||||||At 1.4.19|in funds|funds|31.3.20|
|||||||||f|
|Unrestricted|funds||||||||
|General fund|||||2,929,936|134,161|22,170|3,086,267|
|Restricted funds|||||||||
|Residential
Services||||||(74,496)|74,496||
|Elderly||||||(32,453)|32,453||
|Asset Fund|||||1,460,280|(33,765)|(64,126)|1,362,389|
|Legacy Income
Public Health England||Grant|||35,060
~76 897|~12764)|(7,410)
~46,333)|27,650
17,800|
||||||1,572,237|(153,478)|(10,920)|1,407,839|
|Endowment
funds|||||||||
|Wirral PCT|||||168,750||(11,250)|157,500|
|TOTALFUNDS|||||4670,923|~19317)||4 65I 606|
|Comparative
net movement|||in|funds, included|in the above are as follows:||||
||||||Incoming|Resources|Gains and|Movement|
||||||resources
f|expended
f|losses|in funds|
|Unrestricted|funds||||||||
|General fund|||||8,343,941|(8,239,780)|30,000|134,161|
|Restricted funds|||||||||
|Residential
Services|||||1,218,642|(1,293,138)||(74,496)|
|Elderly|||||135,902|(168,355)||(32,453)|
|Asset Fund
Public Health|England|Grant|||191,181|(224,946)
~12,764)||(33765)
~12764|
||||||~145725|~l699 03||~153478|
|TOTALIIUNDS|||||~9889666|~9938983)|~30 000|~19317)|
##
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##
|Charitable|Company||||||
|---|---|---|---|---|---|---|
||||Net movement
in|Transfers|||
|||Ai 1.4.20|funds|between|funds|At 31.3.21|
|Unrestricted|funds||||||
|General fund||2,845,408|202,486||(63,003)|2,984,891|
|Restricted funds|||||||
|Residential|services fund||(62,204)||62,204||
|Elderly fund|||(799)||799||
|Asset fund||1,362,389|(21,632)|||1,340,757|
|Legacy income||27650||||27 650|
|TOTAL FUNDS||4235447|117851|||4353298|
##
##
##
##
##
##
##
|b||||||||
|---|---|---|---|---|---|---|---|
|Memer
Total deferred
Deferred members
Deferred members
Pensioners
Pensioners|pensions|Description
revalued to valuation
date - (fp.a.)
Average age weighted
by pension
Total pensions payable (f.p.a,)
Average age weighted
by pension|||5 April 2020
6,808
44
2,103
68||5April 2017
6,256
41
1,893
65|
|The breakdown ofthe liability for2020 is|detailed|below:||||||
|Desert ption|||||2020 Valuation||2017Valuation|
|||||||f'000s|f'000s|
|Assets||||||234|227|
|Liabilities - Pensioners
Liabilities - Deferred members
Overall position||||||(54)
(281)
101|(54)
(184)
11|
|Funding
level||||||70'/o|95'/o|
|Change in assets
Value ofassets atprevious valuation
date|||||||f'QQQs
227|
|Assumed
return
on assets|||||||28|
|Contributions
received (net ofexpenses)||||||||
|Benefits paid
Difference between
actual and assumed
return
on assets
Value ofassets at current valuation
date|||||||(6)
(15)
234|
|The assets are split f230k Mobius Life -FPP Default fund (98'/o) and f4k||||net current assets (2'/o).||||
|Overall
the breakdown
ofthe assets is 22'/o UK Equity,
22'/o Overseas
Diversified
growth.|||Equity,
33'/o Government|||bonds,|2'lo cash and 22'/o|
|Change is Technical provisions|||||||fr000s|
|Value ofpast service liabilities at previous|valuation|date|||||238|
|Interest on the liabilities|||||||31|
|Benefits paid
Actual inflation increases being lower than assumed
Impact ofchanges
in financial
conditions
since previous
valuation
Impact ofproposed
changes to statement offunding
principles
Value ofpast service liabflities at current valuation
date|||||||(6)
(3)
51
24
335|
##
|Pre retirement
discount rate
Post retirement
discount rate
RPI inflation|
|---|
|CPI inflation
RPI pension increases
CPIpension increases
Recovery plan return|
##
##
##
##
##
||||Assumed rate at last|Average rate|Average rate|during|
|---|---|---|---|---|---|---|
||||valuation|inter|valuation|period|
|Investment|returns|- assumed for the purpose ofthe 2017recovery|(per annum)||(per|aanum)|
|plan|||4.70%|||1.93%|
|Revaluation|up to|retirement|||||
|in line with|RPI||3.50%|||3.20%|
|in line with|CPI||2.75%|||2.37%|
|Pension increases||in payment|||||
|in line with|RPI||3.50%|||2.90%|
|in line with|CPI||2 75%|||2.02%|
|Area ofimpact|Potential Impact|
|---|---|
|UK Long dated interest rate
Inflation
VK Life expectancy
Equity market repricing|-0.5%p.a.
+0.5%p.a.
-0.25 years
-15%|
|Diversified
growth fund repricing|-7.5%|
##
|Membership
ofthe scheme ismade up ofno ac
8.|tive meinbers, 6Deferred pe|nsioners
and 2 Retired pensioners
giving atota|
|---|---|---|
|Fund Account|||
|Employer Contributions
- Additional
Employer Contributions
-Deficit funding
Employee Contributions||21,190
3,000|
|Transfers
In|||
|Other Income|||
|Benefits paid - Pensions
Payinent to and on account ofleavers||(2,073)|
|Administration
expenses - audit fees
Administration
expenses - PPF Levy
Administration
expenses - Trustee management|fees|(252)
(1,436)
~797767|
|Net Additions
&om dealings
with members
Investinent
Income - interest on cash deposits
Change in market Investments||653
5
~6"'|
##
##
##
|EMPLOYEE BENEFIT OBLIG|ATION|S -contiaued||||
|---|---|---|---|---|---|
|Net returns
on Investment||||~3886||
|Net decrease in the fund during year||||~3222||
|Statement ofNet Assets available for Benefits||||||
|Pooled Investment
Vehicles|||||229,631|
|AVC Investment||||||
|Total Net Investment|||||229,631|
|Current
Assets||||||
|Contributions
due from employer|in respect ofdeficit funding||||250|
|Contributions
due from employer
DIS contributions
-cash balances
Current Liabilities
Accrued Administration
expenses
Tax payable|in respect ofadditional||funding|1,630
7,321
(5,196)
~)4)||
|Net assets ofthe plan at end ofyear|||||233 63|
|The market value ofthe pooled investment||vehicle is totally attributable||to Monbius - FPP Default amounts|totalling 6229,631.|
|The movements
in the year were:||||||
|Pooled Investment
Vehicles||||||
|Value at6April 2019|||||239,252|
|Purchases
at cost
Sales proceeds
Change
in market value|||||8,910
(14,640)
~389 )|
|Value at 5April 2020|||||29631|
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