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2021-03-31-accounts

Registered number: 03470752 Charity number: 1125896

Servol Community Services

Trustees' report and financial statements

For the year ended 31 March 2021

Servol Community Services

(A company limited by guarantee)

Contents

Page
Reference and administrative details of the Charitable Company, its Trustees and 1
advisers
Chairperson's statement 2 - 3
Trustees' report 4 - 11
Independent auditors' report on the financial statements 12 - 15
Statement of financial activities 16
Balance sheet 17
Statement of cash flows 18
Notes to the financial statements 19 - 35

Servol Community Services (A company limited by guarantee)

Reference and administrative details of the Charitable Company, its Trustees and advisers For the year ended 31 March 2021

Trustees G Branch, Chairperson
J Roberts
V Taylor
L Found (appointed 11 February 2021)
A Grant
K Jackson
R Smith
Company registered
number
03470752
Charity registered
number
1125896
Registered office
51 Pinfold Street
Birmingham
England
B2 4AY
Company secretary
P Gayle
Chief executive officer
Senior management
team
P Gayle
K Monero - London Regional Operations Manager
M James - Finance and Business Manager
Independent auditors
Dains LLP
15 Colmore Row
Birmingham
B3 2BH
Bankers
Barclays Bank Plc
351-359 Soho Road
Birmingham
B21 9SE

Page 1

Servol Community Services (A company limited by guarantee)

Chairperson's Statement For the year ended 31 March 2021

The chairperson presents his statement for the year.

This Annual Report sets out our achievements in 2020/21 and our ambitious plans going forward in 2021/2022. This was an unprecedented year for Servol and indeed for the health and social care sector. Again, we are pleased to report all our existing contracts in both London and Birmingham we have retained. Our strong relationship, with commissioning colleagues at Wandsworth and Richmond Borough Council continues and with stakeholders related to all our London services. Our managers and staff have maintained close working relationship with our commissioners and partners in Birmingham. It is our endeavour to also work with Birmingham and Solihull Integrated Care System, providing supported accommodation services once they are fully operational.

Our strategic business plan continues to be the organisation’s focus, delivering safe good care, quality, placing our service users at the centre of everything we do. However, our response to this year’s challenge has highlighted our resilience, innovation and strength and adaptability in difficult times. Against a sector environment of limited funding/income levels and challenged resources, Servol continued its ongoing commitment to quality improvements in all areas of the organisation. CQC registered services did not have its annual inspection due to the lockdown and associated restrictions for all providers. However, we did have a CQC infection control visit related to guidance given by the Department of Health and our report following the inspection was well received with positive comments and no actions required. Like most social care organisations, our ability to sustain the momentum within Servol had been compromised by the considerable impact of the Covid-I9 crisis. Servol had to quickly adapt to the emergent and changing priorities and redirect resources from our strategic ambitions on to the operational focus and our primary objective of ensuring the immediate safety and wellbeing of the people we support and all our colleagues. Against this sobering backdrop, the human response to Covid-19 in particular, our staff across Servol has been overwhelmingly commendable and inspiring. The CEO and all Trustees are so appreciative of the hard work displayed during these difficult and worrying times.

With the people we support and staff in all roles actively demonstrating Servol’s values, it has been heartwarming to have witnessed the dedication and commitment during the pandemic. Covid-19 has impacted Servol in many ways operationally, strategic, cultural - and affected each person connected to our charity, the people we support, colleagues, families, our partner organisations, commissioners, and regulators. During the pandemic we have responded to many challenges and learnt much about ourselves and how we will adapt for the future. Working together as a team facilitated the people we support, our staff working more closely than ever to apply innovative solutions and responses to the challenges presented by the pandemic - whether it was around core care and support, communications or keeping up levels of well-being - both physically and mentally.

Against all of this we have performed well this year and despite the challenges the organisation have produced a surplus which I am pleased to report. Servol were fortunate to receive additional Government funding during the start of the pandemic, the additional operational costs and required changes faced by Servol to keep the people we support and staff safe and well, bring further long-term challenges to a sector already underfunded and exposed by the lack of a national long-term plan. Uncertainty about the impact of Brexit, new immigration rules only compound the challenge of recruiting quality people to the sector, and we are already seen this take place within Servol.

The crisis has also reinforced the social care sector concerns that the value, impact, and monetary contribution to quality adult mental health, still needs to be prioritised on the same level as physical health needs, and that the need to reform our relevance and importance to a changing society is required. In the face of the present challenges, Servol is progressively engaged in exploring how many of the positives around improved communications and wider stakeholder involvement can help shape the way we adopt and evolve our care and support into the future.

Page 2

Servol Community Services

(A company limited by guarantee)

Chairperson's Statement (continued) For the year ended 31 March 2021

Finally, I would like to sincerely thank all Servol staff whose hard work during a difficult year needs to be highlighted as their dedication to the roles they fulfil is essential to the work Servol continues to provide. Our capacity to provide accommodation and support across both regions is absolutely dependent on our staff’s dedication and commitment. Likewise, I would like to acknowledge my fellow Board members who have contributed to ensuring the provision of high-quality services. It also goes without saying, we are appreciative and would like to thank all our stakeholders. Also, not forgetting our service users for being so resilient during the past year.

_________ G Branch Chairperson

Date: 10 November 2021

Page 3

Servol Community Services (A company limited by guarantee)

Trustees' report For the year ended 31 March 2021

The Trustees present their annual report together with the audited financial statements of the Charitable Company for the year 1 April 2020 to 31 March 2021. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

Since the Charitable Company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.

Objectives and activities

a. Values and objectives

Our Values

Our Values have been developed with our staff and service users, which underpin our work at Servol and establish the behaviour we expect from our people. They make a commitment that our service users will feel welcomed, supported and in safe hands when using our services: That our staff will feel that they are part of a team who are fully supported to meet our high standards and that they will feel appreciated.

Objectives

Servol’s Board reviewed the organisations strategic objectives which remain at the center of our future success, and these are:

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

Page 4

Servol Community Services (A company limited by guarantee)

Trustees' report (continued) For the year ended 31 March 2021

Objectives and activities (continued)

b. Strategies and aims

Strategies

Servol has a clear format for setting its objectives and devising the strategies and activities to meet those objectives which cover:

Our aims in 2020/21

Achievements and performance

a. Performance review and achievements

Birmingham Services - Residential Unit Strensham Hill:

Janet Faye House is a large 2 storey house on the corner of Strensham Hill and Edgbaston Road. It is a registered residential home providing accommodation and support for eight adults with mental health disorders. We have had no voids this year within this unit. Our registered manager has been working proactively looking at ways to develop the service and has been successful in securing a small pot of money for infection control improvements within the home.

Respite Services

Summerfield Crescent and Gillott Road are two large three storey houses that are next door to each other in Edgbaston. The service at Summerfield Crescent provides a respite service for five male people. Gillott Road provides a crisis service for six female individuals. There is little difference between the two units in relation to the care and support offered. The emphasis at our respite step-up step-down service centers on maintaining and developing independence for people to move back into a community setting as soon as possible. We were fortunate this year to have financial non-current investment in the wake of the pandemic again for infection control improvements and this small investment assisted us in making some much needed improvements within both units. We have continued to operate above 80% occupancy levels and we are now looking at different ways to expand the service provision by providing floating support for service users who move into one of our independent community houses.

Page 5

Servol Community Services (A company limited by guarantee)

Trustees' report (continued) For the year ended 31 March 2021

Achievements and performance (continued)

100 School Road and Alcester Road Self Contained Supported Living Units

School Road and Alcester both provide 9 bedded self-contain Flat/bedsit, with kitchenette, individual en-suite toilet and shower. There are 2 communal rooms, 1 communal toilet and a separate bathroom for individuals who would prefer to have a bath. There is a large a laundry room housing washing machines and dryers. The property is in a nice location. Individuals with learning disabilities will receive support to help them to develop the skills to enable them to live independently. Once they are ready to move onto their own tenancy Servol provides floating support to assist their transition. This service continues to work well and be commending for their work by senior clinicians.

Community Support Homes

Servol utilise private accommodation in the community. The purpose is to provide two- and three-bedroom homes for clients living with mental health issues: who have been assessed, can live semi/independently and want to move out of large residential home to:

These properties will be linked to our Respite services as a cluster model of move on with less support from staff.

Supported Accommodation Units London - Bickersteth Road

This unit consists of nine self-contained flats within a fully supported accommodation scheme. The unit is staffed twenty-four hours per day, by a team of dedicated support workers, and a manager who has a deep understanding of all our clients’ needs. Whilst providing a secure and homely environment at this scheme, the support teamwork through individually tailored assessments and support plans with clients. Working alongside health care professionals and Social Services, the support team is able to monitor and maintain the mental health of our clients. We are currently in the process of changing the sleep in service we offer to only having concierge staff at night. This will fall in line with our other services in London.

Trinity Road

This unit consists of twelve rooms. All of the clients at Trinity Road have had enduring mental illness and the majority of clients are referred directly from the psychiatric units by CPN’s or Social Workers and homeless support teams. Servol Trinity scheme is for vulnerable individuals who need some additional support to prepare them to be re-integrated back into the community following a long period of illness while still connected to mental health services and they are assessed. Whilst providing a secure and homely environment at this scheme, the staff work through individually tailored assessments and support plans with clients. Working alongside health care professionals and Social Services, the support team can monitor and maintain the mental health of our clients. Our London service provides a range of support, and the duration stay is up to a maximum period of two years.

Thurleigh Road

Thurleigh Road Housing Support Service is for people living with long term mental health conditions. The service provides accommodation and support with the purpose of developing the client’s capacity to live independently in accommodation or their capacity to do so. The service works with new tenants in their accommodation and provides support staff. The service also has access to a 24 hour on call service (senior manager) for serious incidents and issues and is linked to one of Servol’s schemes located in Tooting Wandsworth. The service provides a list of emergency contacts that can be used; if the need arises. The accommodation unit is supported by The London Borough of Wandsworth. Support is given to individuals for up to 12 months.

Page 6

Servol Community Services (A company limited by guarantee)

Trustees' report (continued) For the year ended 31 March 2021

Achievements and performance (continued)

Friend’s House

We are pleased that we have a new service based in Balham. This service was launched in 2018 and it compromises of 12 one-bedroom flats. This is staffed with concierge and one member of staff.

Financial review

a. Financial review

The financial statements show total incoming resources of £2,494,003 (2020: £2,265,055). The principal source of Servol’s income is mainly in the form of accommodation fees (rental) and care & support fees towards the cost of the services we provide. Such fees are charged for the provision of residential and supported living accommodation services and are paid by local and health authorities mainly in London and Birmingham, as well as local authorities in Shropshire and Coventry, which were added later in the financial year.

Staff costs are by far largest resource and expenditure for the organisation averages 60% - 65% annually. In the year ended 31 March 2021 Servol had an increase in total income of £228,948 over the financial year ended March 2020. However, total expenditure only had a marginal increase of £38,427 (1.6%). Net surplus was £149,155 (2020: Deficit £41,366). Total funds carried forward was therefore £553,037 (2020: £403,882).

The performance in the year was again due mainly to very prudent management of ever limiting financial resources as Servol continues to face rising costs in especially salary and wages, pensions, rental, and other suppliers’ costs. We have continued to seek more cost efficient and cheaper alternatives, especially for utilities, by switching to suppliers who offer cheaper rates. Cost reviews is an ongoing process and will continue as the need for constant savings remain.

b. Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the Charitable Company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

c. Reserves policy

The Trustees of Servol have established a reserves policy that reflects the long-term nature of much of the work of the organisation. Servol has a long history of providing residential care and supported living schemes to people experiencing enduring mental health problems. It is the Trustees intention that Servol should hold a reserve sufficient to allow it to operate effectively for a period of time given the current practice of most of our contracting bodies making payments in arrears (generally on a four-weekly basis). The objective is that Servol would be able to carry on its work, even if faced with a combination of difficult circumstances, and have the time to adjust its strategy to meet these changing circumstances. The Trustees are mindful that any such reserve needs to be monitored carefully so that funds are not retained unnecessarily, where funds could be otherwise utilised in other income generating financial instruments. The level of any reserves will be reviewed on an annual basis to ensure that it is appropriate to the expected level of income. Should it be identified that the reserve exceeds the agreed level any excess will be applied to the organisation’s charitable purposes. In the event the reserves fall below its operational costs, immediate measures will be implemented to prevent further loss and we will make every effort to rebuild it. In relation to our reserves policy Servol is exposed to financial and operational risks. The Trustees assess the risks to which Servol could be exposed and the appropriate systems are in place to mitigate these identified risks. Servol’s major financial risks continues to come from running services with the possibility of high voids and the high use of agency staff.

Page 7

Servol Community Services

Trustees' report (continued) For the year ended 31 March 2021

(A company limited by guarantee)

d. Free reserves

Free Reserves are those funds available to meet the day-to-day needs of the organisation’s work. The Trustees have decided that given the long-term commitments in the organisation’s work, the fragility of external funding for some of its services and the uncertainty of voluntary income and legacies, free reserves should be held for not less than 3 and not more than 6 months’ expenditure. At the balance sheet date free reserves amounted to £244,743 (which is the excess of unrestricted funds and net funds held as fixed assets), equivalent to an average month's unrestricted expenditure. The free reserves are still below the reserves policy minimum levels, (which is currently £586,000 (2020: £576,600) based on the average budgeted expenditure for three months). We have steadily been rebuilding our reserves which had been totally depleted in the past few years.

As managers begin to accept being responsible for their own unit’s budgets, which are being monitored and regularly checked for accountability, this has resulted in improvements and cost savings all-round. In addition, we received a boost to our income with the addition of grant funds received from both Local authorities in London and Birmingham. Based on our current contract renewals and commitment to the services provided by Servol, as well as plans for future growth and cost improvement the trustees foresee a bright future and continuous improvement in the building of our reserves.

Structure, governance and management

a. Constitution

Servol Community Services is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 25 September 1997, as updated 8 December 2018. The charity initially began its work as an unincorporated charity in 1983. The Memorandum of Association sets out the objects and powers of the charitable company which is governed under its Articles of Association.

b. Methods of appointment or election of Trustees

Nominations for trustees have been made by existing trustees and other supporters of the organisation. Servol has also successfully advertised for trustees to replace retiring trustees. Appointments are made by the board with the approval of the chair in line with identified skills gaps in the existing board or through retirement. New trustees undergo a formal induction, managed by the Chief Executive, into their responsibilities, the varied activities and the ethos of the organisation. Professional advice is always made available to the trustees and appropriate trustee training is provided.

c. Organisational structure

The Board of Trustees has established sub-committees to examine areas of work in more detail and to advise the senior management team and report to the full board. Occasionally the board delegates specific issues and decisions to sub-committees when deemed appropriate. The board of trustees sets the strategic direction of Servol and approves annual budgets. Implementation and day to day management is delegated to the Chief Executive and through him to the senior management team. The board constantly reviews its governance structure to ensure that it complies with best practice and is committed to achieving compliance with the Good Governance Code.

Page 8

Servol Community Services (A company limited by guarantee)

Trustees' report (continued) For the year ended 31 March 2021

Structure, governance and management (continued)

d. Governance and internal controls

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of Servol and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of Servol and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The systems of internal control are designed to provide reasonable, but not absolute, assurance against material misstatement or loss. They include:

e. Strategic risk management

The Board considered the strategic risks facing the organisation. The purpose of risk management is to identify risks as early as possible, adjust the development strategy to mitigate those risks, and develop and implement a risk management process as an integral part of Servol’s overall management process. Each Manager is responsible for implementing this policy.

Reputation for safeguarding vulnerable adults

It had been agreed in the previous year that inspected services still a risk. However, this is no longer the case as revised robust processes have been put in place throughout our services.

Risk Risk at the start
ofyear		 Risk at the end
ofyear
Reputation for safeguarding vulnerable adults Medium Medium
Staff regularlytested for COVID-19 Low Medium
Financial management -income generation and expenditure
control-this needs to be considered project by project
Servol-risk of new fee structure leading to more
vacantplaces		 Medium Low
Servol high use of agencystaff costs. Medium Low
Re-tender of London contracts Moderate Low
A need to ensure that the organisation has sufficient
management and workforce capability to deliver the new
services being undertaken. Increased capacity is in the process
of being put in place.		 Moderate Medium
Governance
Recruitment of new Trustees with appropriate expertise Moderate Low
Strategic vision and new three-year businessplan Low Low
Servicegrowth Moderate Low
Breach of Dataprotection act Medium Moderate

Page 9

Servol Community Services (A company limited by guarantee)

Trustees' report (continued) For the year ended 31 March 2021

Structure, governance and management (continued)

f. Key management personnel remuneration

The Trustees consider the Senior Management Team, comprising the Principal Staff listed on page 1, as being the key management personnel of Servol is in charge of running and operating the charity on a day to day basis. In February 2021 the CEO along with the Trustees agreed the new role of Head of Services and Ms Brooke was appointed in April 2021. Details of trustees’ remuneration and reimbursed expenses are disclosed in the financial statements. Trustees are required to disclose all relevant interests and register them in accordance with the organisation’s policy and highlight them during discussions where a conflict of interest arises. The pay of the charity’s management team is reviewed annually. The remuneration is bench-marked with other charities of a similar size and activity in the West Midlands area to ensure that the remuneration is fair and not out of line with that paid for similar roles.

Plans for future periods

In line with our 3-year strategic business plan our organisational activities for the next year will be to continue to provide safe high-quality support to our service users, and continue to improve and strengthen our governance process across all services.

The organisation has reviewed its governing documents with regards to the Articles of Association and changes have been made in reference to our objects and the functions of our Trustees.

Statement of Trustees' responsibilities

The Trustees (who are also the directors of the Charitable Company for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charitable Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charitable Company's transactions and disclose with reasonable accuracy at any time the financial position of the Charitable Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charitable Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 10

Servol Community Services (A company limited by guarantee)

Trustees' report (continued) For the year ended 31 March 2021

Disclosure of information to auditors

Each of the persons who are Trustees at the time when this Trustees' report is approved has confirmed that:

Auditors

During the year, MHA MacIntyre Hudson resigned as auditors. Dains LLP were appointed to fill the resulting vacancy and have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.

Approved by order of the members of the board of Trustees on 10 November 2021 and signed on their behalf by:

_________

G Branch

Chairperson

Page 11

Servol Community Services

(A company limited by guarantee)

Independent auditors' report to the Members of Servol Community Services

Opinion

We have audited the financial statements of Servol Community Services (the 'charitable company') for the year ended 31 March 2021 which comprise the Statement of financial activities, the Balance sheet, the Statement of cash flows and the related notes, 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:

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 Auditors' 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 United Kingdom, including the Financial Reporting Council'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

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Page 12

Servol Community Services

(A company limited by guarantee)

Independent auditors' report to the Members of Servol Community Services (continued)

Other information

The other information comprises the information included in the Annual report other than the financial statements and our Auditors' report thereon. The Trustees are responsible for the other information contained within the Annual report. 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. 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 course of 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 this gives rise to a material misstatement in the financial statements themselves. 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.

Other matter

The financial statements of the charity for the year ended 31 March 2020 were audited by MHA MacIntyre Hudson who expressed an unmodified opinion on those financial statements on 25 March 2021.

Opinion 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 Trustees' report.

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

Page 13

Servol Community Services

(A company limited by guarantee)

Independent auditors' report to the Members of Servol Community Services (continued)

Responsibilities of trustees

As explained more fully in the Trustees' responsibilities statement, 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.

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.

Auditors' 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 Auditors' 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:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

Page 14

Servol Community Services (A company limited by guarantee)

Independent auditors' report to the Members of Servol Community Services (continued)

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

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 non-compliance. 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 Auditors' 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 Auditors' 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 its members, as a body, for our audit work, for this report, or for the opinions we have formed.

Mark Gurney FCCA (Senior statutory auditor)

for and on behalf of Dains LLP

Statutory Auditor Chartered Accountants

Birmingham

10 November 2021

Page 15

Servol Community Services

(A company limited by guarantee)

Statement of financial activities (incorporating income and expenditure account) For the year ended 31 March 2021

Note
Income from:
Charitable activities
4
Investments
5
Total income
Expenditure on:
Charitable activities
6
Total expenditure
Net income/(expenditure)
Transfers between funds
15
Net movement in funds
Reconciliation of funds:
Total funds brought forward
15
Net movement in funds
Total funds carried forward
15		 Restricted
funds
2021
£
-
-
-
-
-
-
(2,199)
(2,199)
2,199
(2,199)
-		 Unrestricted
funds
2021
£
2,459,251
34,752
2,494,003
2,344,848
2,344,848
149,155
2,199
151,354
401,683
151,354
553,037		 Total
funds
2021
£
2,459,251
34,752
2,494,003
2,344,848
2,344,848
149,155
-
149,155
403,882
149,155
553,037		 Total
funds
2020
£
2,223,591
41,464
2,265,055
2,306,421
2,306,421
(41,366)
-
(41,366)
445,248
(41,366)
403,882

The notes on pages 19 to 35 form part of these financial statements.

Page 16

Servol Community Services

(A company limited by guarantee) Registered number: 03470752

Balance sheet As at 31 March 2021

Note
Fixed assets
Tangible assets
10
Investment property
11
Current assets
Debtors
12
Cash at bank and in hand
Creditors: amounts falling due within one
year
13
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more
than one year
14
Total net assets
Charity funds
Restricted funds
15
Unrestricted funds
15
Total funds		 387,613
245,578
633,191
(339,281)		 2021
£
125,384
182,910
308,294
293,910
602,204
(49,167)
553,037
-
553,037
553,037		 246,786
134,162
380,948
(269,080)		 2020
£
142,014
150,000
292,014
111,868
403,882
-
403,882
2,199
401,683
403,882

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the Trustees on 10 November 2021 and signed on their behalf by:

_________ G Branch Chairperson

The notes on pages 19 to 35 form part of these financial statements.

Page 17

Servol Community Services

(A company limited by guarantee)

Statement of cash flows For the year ended 31 March 2021

Note
Cash flows from operating activities
Net cash used in operating activities
18
Cash flows from investing activities
Dividends, interests and rents from investments
Proceeds from the sale of tangible fixed assets
Purchase of fixed assets
Net cash (used in)/provided by investing activities
Cash flows from financing activities
Cash inflows from new borrowing
Repayments of finance leases
Net cash provided by/(used in) financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
19
The notes on pages 19 to 35 form part of these financial statements		 2021
£
72,805
34,752
1,936
(45,942)
(9,254)
50,000
(2,135)
47,865
111,416
134,162
245,578		 2020
£
(75,749)
41,463
-
(32,756)
8,707
-
(3,661)
(3,661)
(70,703)
204,865
134,162

Page 18

Servol Community Services (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2021

1. General information

Servol Community Services is a charitable company limited by guarantee, incorporated and domiciled in England and Wales and registered with Companies House and the Charity Commission. The charitable company’s principal place of business and registered office is 11 Cannon Street, lngleby House, Birmingham, England, B2 SEN.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Servol Community Services meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

2.2 Company Status

The charitable company is a company limited by guarantee. The members of the charitable company are the Trustees named on page 1. In the event of the charitable company being wound up, the liability in respect of the guarantee is limited to £1 per member of the charitable company.

2.3 Going concern

The financial statements have been prepared on a going concern basis as the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. These considerations have taken into account the impact of COVID 19 on activities.

The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

2.4 Income

All income is recognised once the Charitable Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

Page 19

Servol Community Services (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2021

2. Accounting policies (continued)

2.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Support costs are those costs incurred directly in support of expenditure on the objects of the company. Governance costs are those incurred in connection with administration of the charitable company and compliance with constitutional and statutory requirements.

All expenditure is inclusive of irrecoverable VAT.

2.6 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charitable Company; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.7 Tangible fixed assets and depreciation

Tangible fixed assets costing £1,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives on the following bases:

Improvements to leasehold - over the lease term
property
Fixtures and fittings - 10% reducing balance
Office equipment - 33% straight line

2.8 Investment property

Investment property is carried at fair value determined annually by either external valuers or the trustees and is derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any differences in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of financial activities.

Page 20

Servol Community Services (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2021

2. Accounting policies (continued)

2.9 Debtors

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

2.10 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

2.11 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charitable Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

2.12 Financial instruments

The Charitable Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.13 Finance leases and hire purchase

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the Charitable Company. Obligations under such agreements are included in creditors, net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the Statement of financial activities so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

2.14 Operating leases

Rentals paid under operating leases are charged to the Statement of financial activities on a straight line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.15 Pensions

The Charitable Company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charitable Company to the fund in respect of the year.

Page 21

Servol Community Services (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2021

2. Accounting policies (continued)

2.16 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charitable Company and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charitable Company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

3. Critical accounting estimates and areas of judgement

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Critical accounting estimates and assumptions:

The Charitable Company makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.

Critical areas of judgement:

Depreciation

Depreciation is charged against assets so as to write the assets down to their residual value at the end of their useful lives. At each reporting date the charitable company assesses whether there is any indication of impairment or deviation from the expected useful lives. If such indication exists, the recoverable amount of the asset is determined to be the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Provision for doubtful debts

The charitable company provides against debts based on the ageing of the debts and the circumstances surrounding the recovery on a case-by-case basis. Large potential bad debts are referred to the Trustees t and specific provisions introduced from a prudent review of afterdate events and correspondence.

Page 22

Servol Community Services (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2021

4. Income from charitable activities

Unrestricted
funds
2021
£
Community & Residential Care - Local authority
1,948,900
Community & Residential Care - CCG
423,733
Government grants receivable
86,618
Total 2021
2,459,251		 Total
funds
2021
£
1,948,900
423,733
86,618
2,459,251

The charitable company has been eligible to claim from Government support schemes in response to the Covid-19 outbreak.

Unrestricted
funds
2020
£
Community & Residential Care - Local authority
1,804,410
Community & Residential Care - CCG
416,831
Government grants receivable
2,350
Total 2020
2,223,591		 Total
funds
2020
£
1,804,410
416,831
2,350
2,223,591

5. Investment income

Unrestricted
funds
2021
£
Rent receivable
24,115
Management fee
10,608
Deposit account interest
29
Total 2021
34,752		 Total
funds
2021
£
24,115
10,608
29
34,752

Page 23

Servol Community Services (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2021

5. Investment income (continued)

Unrestricted
funds
2020
£
Rent receivable
30,498
Management fee
10,608
Deposit account interest
358
Total 2020
41,464		 Total
funds
2020
£
30,498
10,608
358
41,464

6. Analysis of expenditure by activities

Community & Residential Care
Community & Residential Care		 Activities
undertaken
directly
2021
£
2,277,779
Activities
undertaken
directly
2020
£
2,215,762		 Support
costs
2021
£
67,069
Support
costs
2020
£
90,659		 Total
funds
2021
£
2,344,848
Total
funds
2020
£
2,306,421

Page 24

Servol Community Services (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2021

6. Analysis of expenditure by activities (continued)

Analysis of direct costs

Agency staff and training
Business development consultancy
Property costs
Office costs
Telephone
Postage and stationery
Advertising
Sundries
Motor and travelling expense
Food, cleaning and laundry
Wages, salaries and pension costs
Depreciation
Bad debts write off		 Total
funds
2021
£
54,899
3,465
510,959
15,086
43,439
30,493
-
2,866
514
37,426
1,549,719
28,913
-
2,277,779		 As restated
Total
funds
2020
£
116,575
7,538
486,629
17,356
30,807
26,134
1,308
3,783
4,469
30,772
1,461,431
24,050
4,910
2,215,762

Analysis of support costs

Recruitment expenses
Office costs
Room hire
Insurance
Bank charges
Legal and professional fees
Governance costs
Surplus on disposal of tangible fixed assets		 Total
funds
2021
£
2,904
7,062
1,468
13,769
613
19,355
23,085
(1,187)
67,069		 As restated
Total
funds
2020
£
19,723
13,655
3,276
21,616
593
16,594
15,202
-
90,659

Page 25

Servol Community Services (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2021

7. Staff costs

Wages and salaries
Social security costs
Pension costs		 2021
£
1,403,628
118,163
27,928
1,549,719		 2020
£
1,314,068
118,696
28,667
1,461,431

The average number of persons employed by the Charitable Company during the year was as follows:

Administration
Care and support		 2021
No.
7
61
68		 2020
No.
7
56
63

No employee received remuneration amounting to more than £60,000 in either year.

Key management personnel comprises Trustees and the senior management team. Remuneration and benefits received by key management personnel during the year amounted to £142,318 (2020: £139,583).

8. Trustees' remuneration and expenses

During the year, in accordance with the provisions of the charity's articles of association, two (2020: two) of the Trustees received remuneration for their services to the organisation and attendance at board meetings throughout the year. The total value of Trustees' remuneration was as follows:

2021 2020
£ £
G Branch Remuneration 4,525 3,500
V Taylor Remuneration 2,500 2,500

During the year, expenses totalling £215 (2020: £1,586) were reimbursed or paid directly to 1 trustee (2020: 3 trustees) for travel, training and meetings.

Page 26

Servol Community Services (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2021

9. Net income/(expenditure)

This is stated after charging:

2021 2020
£ £
Depreciation of tangible fixed assets 28,913 24,049
Surplus on disposal of tangible fixed assets 1,187 -
Auditor's remuneration - audit 7,750 8,000

10. Tangible fixed assets

Cost
At 1 April 2020
Additions
Disposals
At 31 March 2021
Depreciation
At 1 April 2020
Charge for the year
On disposals
At 31 March 2021
Net book value
At 31 March 2021
At 31 March 2020		 Long-term
leasehold
property
£
196,783
-
-
196,783
94,213
11,950
-
106,163
90,620
102,570		 Fixtures and
fittings
£
25,018
2,474
-
27,492
9,431
1,674
-
11,105
16,387
15,587		 Office
equipment
£
66,136
10,558
(1,936)
74,758
42,279
15,289
(1,187)
56,381
18,377
23,857		 Total
£
287,937
13,032
(1,936)
299,033
145,923
28,913
(1,187)
173,649
125,384
142,014

The net book value of assets held under finance leases or hire purchase contracts, included above, was £Nil (2020: £3,661).

Page 27

Servol Community Services

(A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2021

11. Investment property

Valuation
At 1 April 2020
Additions
At 31 March 2021		 Freehold
investment
property
£
150,000
32,910
182,910

The property was formally valued in June 2015 by Marwood Surveyors at a market value of £150,000. The 2021 valuations were made by the Board of Trustees, taking into consideration the previous formal valuation and refurbishment works carried out on the property since.

The historical cost of the property is £300,000 (2020: £300,000).

12. Debtors

Trade debtors
Other debtors
Prepayments and accrued income		 2021
£
367,648
360
19,605
387,613		 2020
£
214,220
-
32,566
246,786

Page 28

Servol Community Services (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2021

13. Creditors: Amounts falling due within one year

Bank loans
Trade creditors
Other taxation and social security
Obligations under finance leases
Other creditors
Accruals and deferred income		 2021
£
833
113,309
35,376
-
22,446
167,317
339,281		 2020
£
-
104,395
33,639
2,135
16,563
112,348
269,080

Obligations under finance leases are secured over the assets to which they relate.

Deferred income
Deferred income at 1 April 2020
Resources deferred during the year
Amounts released from previous periods		 2021
£
9,310
106,326
(9,310)
106,326		 2020
£
9,100
9,310
(9,100)
9,310

Deferred income represents service user income billed in advance.

Page 29

Servol Community Services (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2021

14. Creditors: Amounts falling due after more than one year

Bank loans
Included within the above are amounts falling due as follows:
Between one and two years
Bank loans
Between two and five years
Bank loans
Over five years
Bank loans		 2021
£
49,167
2021
£
10,000
30,000
9,167		 2020
£
-
2020
£
-
-
-

The charitable company received a £50,000 bounce back loan in February 2021. The loan is repayable in equal instalments beginning in March 2022. The interest rate is fixed at 2.5% over the term of the loan with the first 12 months of interest being paid by the UK Government.

Page 30

Servol Community Services (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2021

15. Statement of funds

Statement of funds - current year

Unrestricted funds
Designated funds
Fixed assets
General funds
General fund
Total Unrestricted funds
Restricted funds
Capital fund
Total of funds		 Balance at 1
April 2020
£
-
401,683
401,683
2,199
403,882		 Income
£
-
2,494,003
2,494,003
-
2,494,003		 Expenditure
£
-
(2,344,848)
(2,344,848)
-
(2,344,848)		 Transfers
in/(out)
£
308,294
(306,095)
2,199
(2,199)
-		 Balance at
31 March
2021
£
308,294
244,743
553,037
-
553,037

Page 31

Servol Community Services (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2021

15. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds
General fund
Restricted funds
Capital fund
Total of funds
16.
Summary of funds
Summary of funds - current year
Balance at 1
April 2020
£
Designated funds
-
General funds
401,683
Restricted funds
2,199
403,882
Summary of funds - prior year
General funds
Restricted funds		 Balance at
1 April 2019
£
442,886
2,362
445,248
Income
£
-
2,494,003
-
2,494,003
Balance at
1 April 2019
£
442,886
2,362
445,248		 Income
£
2,265,055
-
-
Expenditure
£
-
(2,344,848)
-
(2,344,848)
Income
£
2,265,055
-
2,265,055		 Expenditure
£
(2,306,258)
(163)
(2,306,421)
Transfers
in/(out)
£
308,294
(306,095)
(2,199)
-
Expenditure
£
(2,306,258)
(163)
(2,306,421)		 Balance at
31 March
2020
£
401,683
2,199
403,882
Balance at
31 March
2021
£
308,294
244,743
-
553,037
Balance at
31 March
2020
£
401,683
2,199
403,882

Page 32

Servol Community Services (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2021

17. Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted
funds
2021
£
Tangible fixed assets
125,384
Investment property
182,910
Current assets
633,191
Creditors due within one year
(339,281)
Creditors due in more than one year
(49,167)
Total
553,037		 Total
funds
2021
£
125,384
182,910
633,191
(339,281)
(49,167)
553,037

Analysis of net assets between funds - prior year

Tangible fixed assets
Investment property
Current assets
Creditors due within one year
Total		 Restricted
funds
2020
Unrestricted
funds
2020
£
£
2,199
139,815
-
150,000
-
380,948
-
(269,080)
2,199
401,683		 Total
funds
2020
£
142,014
150,000
380,948
(269,080)
403,882

Page 33

Servol Community Services (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2021

18. Reconciliation of net movement in funds to net cash flow from operating activities

Net income/(expenditure) for the year (as per Statement of financial
activities)
Adjustments for:
Depreciation charges
Surplus on the sale of fixed assets
Interests and rents from investments
Increase in debtors
Increase in creditors
Finance lease costs
Net cash provided by/(used in) operating activities
19.
Analysis of cash and cash equivalents
Cash in hand
Total cash and cash equivalents
20.
Analysis of changes in net debt
At 1 April
2020
£
Cash at bank and in hand
134,162
Debt due within 1 year
-
Debt due after 1 year
-
Finance leases
(2,135)
132,027		 2021
£
149,155
28,913
(1,187)
(34,752)
(140,827)
71,503
-
72,805
2021
£
245,578
245,578
Cash flows
£
111,416
(833)
(49,167)
2,135
63,551		 2020
£
(41,366)
24,049
-
(41,464)
(89,134)
68,505
3,661
(75,749)
2020
£
134,162
134,162
At 31 March
2021
£
245,578
(833)
(49,167)
-
195,578

Page 34

Servol Community Services

(A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2021

21. Pension commitments

The charitable company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the charitable company in an independently administered fund. The pension cost charge represents contributions payable by the charitable company to the fund and amounted to £28,594 (2020: £28,667). Contributions totalling £5,108 (2020: £5,333) were payable to the fund at the balance sheet date and are included in creditors.

22. Operating lease commitments

At 31 March 2021 the Charitable Company had commitments to make future minimum lease payments under non-cancellable operating leases as follows:

2021 2020
£ £
Not later than 1 year - 13,654

23. Related party transactions

No related party transactions arose in the year, other than those already detailed in note 8.

24. Amounts held as custodian trustee

The charity holds funds of £75,000 (2020: £75,000) on behalf of a client as custodian trustee. This amount is held in a separate bank account and is not included in the balance sheet of the charity.

Page 35