## **WOODLANDS QUAKER HOME** **77[th] ANNUAL REPORT 2022/2023** ## **REVIEW OF THE YEAR** **During 2022/2023 the home registered with the ENRICH programme (ENabling Research In Care Homes) run by the National Institute for Health & Care Research and two separate research studies were launched in the home. The first the ‘Vivaldi’ study collected data from both residents and staff to monitor the efficacy of the Covid-19 vaccines. It is hoped this will identify areas of care that could be improved as well as gain an enhanced understanding of the home’s preparedness in safeguarding and protecting residents and staff during an outbreak.** **The second study called AFRI-C (Air Filters to prevent Respiratory Infections including Covid in care homes) was run by Bristol University and the aim was to establish whether air filters reduce coughs, colds, flu, and Covid-19 in care home residents. HEPA air filters were installed in ten bedrooms and communal areas of the home. When the study completes data will be compared with rooms where air filters were present against rooms which continued with routine infection prevention measures. This is an important study as one of many things to arise from the Covid-19 pandemic is that it is vital that the spread of infections in care homes is reduced.** **The Woodlands held a Platinum Jubilee celebration event on 3[rd] June 2022, and this was a great success. The event was very well attended with a singer, games, bhangra workshop and BBQ. We were very fortunate that the weather held until just before the event closed at 5:00pm and then the rain came!** **After the enjoyable celebrations in June, the news that Queen Elizabeth II had passed away on 8[th] September was received with much sadness. Residents reminisced about her years on the throne and gathered together to watch the televised Queen’s lying- in- state and funeral on 19[th] September.** **Paddock tenants began to organise group activities once again and a poetry group was formed. Tenants also began to attend events in the home following relaxation of all Covid-19 restrictions.** **The main road directly in front of the Woodlands site was closed for a period on Thursday 4[th] August for the Commonwealth games cycling time trial event. Residents, tenants, and staff gathered outside and supported this exciting event, cheering and waving the riders on.** **Activities and entertainment sessions were increased, and a new daily programme of activities was developed to engage and stimulate residents.** **On 13[th] December, a small group of residents were escorted to Dudley Town Hall to watch a Marilyn Monroe and Rat Pack show. Cocktail events with a live pianist were added to the entertainment schedule and the relaxed atmosphere was appreciated by all. Several Residents relished in the World Cup coverage during November and December, following England and other countries on their World Cup journeys.** **Woodlands hosted several enjoyable events up until 23[rd] December 2022 when residents were required to isolate during an Influenza outbreak. The annual Christmas party took place in early December and was the first Christmas Party since the pandemic, the event was enjoyed by all who attended. Unfortunately, due to the outbreak Christmas dinner was not the affair we had hoped. At the first opportunity in January a Sunday lunch was turned into a post Christmas celebration, and residents had a wonderful time eating festive foods and pulling crackers.** **Spinney residents and staff spent the summer developing a kitchen garden, they grew strawberries, runner beans, tomatoes and a selection of herbs and the produce was used in the main kitchen for meals.** ## **OUR STAFF** **Recruitment and retention was difficult, however an interim pay increase of 2% to all staff in November 2022 and a generous Christmas bonus was well received. Exit interviews were conducted throughout the year with staff that had resigned their positions. Feedback from the interviews were generally positive with the majority of staff leaving the organisation to pursue a different career.** **During the year, the key worker system was improved, and a development pathway was launched. for assistant managers.** **Thirteen staff members completed a Level 2 qualification in Team Leading Principles and funding was secured for 5 staff members to complete the Level 3 Diploma in Care. An on-line learning platform was adopted, whilst most of the staffing team embraced this method of learning, a small number needed additional support to complete their allocated courses.** **Care staff completed refresher FREED training (Frailty, Recognising End of Life and Escalating Deterioration) during March 2023. The home was certified as a ‘platinum’ care home for FREED training and 4 FREED Champions were appointed who will be able to cascade training to new staff and offer support where needed.** **Once again, we applaud all of our staff for their hard work and commitment through yet another challenging year.** ## **FINANCIAL PERFORMANCE** **The cost-of-living crisis had a severe impact on the organsation with gas, electricity and food prices soaring to unprecedented levels. This was also the first year since the pandemic where care providers no longer received government support. These factors were significant as during 2023/2024 we were still managing issues caused by the pandemic whilst trying to raise key areas of performance to pre-pandemic levels.** **Expenditure on agency staffing was high as the social care workforce availability crisis made it increasingly difficult to recruit and retain staff. The use of agency staff is not only costly but impacts on the continuity of care for our residents. Whilst the staff turnover rate was markedly lower than the average for the sector locally, we aim to reduce this further and have less reliance on agency staff through remuneration and career development opportunities.** **Senior management proposed plans to convert a training/meeting room in the care home to an additional bedroom with wet room facility to increase income and support our local NHS Trust with their winter discharge plan. The conversion of the new room was quickly completed; and the Care Quality Commission approved the room and increased the registration for the home from 44 to 45 beds on 2[nd] December. The room was occupied from 5[th] December and the new resident settled in very quickly.** **Insurance premiums for the organisation increased by 22%. Insurers reviewed their involvement in the sector following the pandemic and there are now only a limited number of insurers willing to underwrite providers of Adult Social Care.** **It was disappointing that the market value of our investments fell so significantlally, a combination of interest rate rises, and surging inflation had quite a negative impacted on the portfolio. One investment in particular caused concern as the share value fell significantly in November 2022 and shares were consequently suspended in January 2023 and remained so at the end of March.** **We have been pleased that occupancy levels continue to recover following the pandemic with an occupancy rate of 96.2% for the home and 100% for the Paddock housing scheme being achieved.** **----- Start of picture text -----**
Looking Forward
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**The national shortage of Adult Social Care workers and surging operational costs have put the organisation under considerable financial pressure. Trustees are actively taking steps to ensure that Woodlands Quaker Home remains viable, and the immediate focus will be to return the organisation to an operating surplus whilst furthering plans to: -** - **Work collaboratively with similar organisations** - **Continue our commitment to the ‘Real Living Wage’** - **Adopt digital care records in line with the Governments Adult Social Care reforms** - **Participate in research projects led by the National Institute for Health & Care Research** ## **FINANCIAL STATEMENTS** ## **STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31st MARCH 2023** |**STATEMENT OF COMPREHENSIVE INCOME**
**FOR THE YEAR ENDED 31st MARCH 2023**|**STATEMENT OF COMPREHENSIVE INCOME**
**FOR THE YEAR ENDED 31st MARCH 2023**|**STATEMENT OF COMPREHENSIVE INCOME**
**FOR THE YEAR ENDED 31st MARCH 2023**| |---|---|---| |||| |||| |||| |**2023**
**2022**||| |£
£||| |||| |||| |**TURNOVER**
1,901,999
1,847,603||| |||| |**Operating costs**
(1,966,318)
(1,842,525)||| |||| |||| |**OPERATING SURPLUS**|**(64,319)**|**5,078**| |||| |||| |**Finance income**
|10,522
|12,157| |**Interest payable and financing costs**
|(9,226)|(8,688)| |**Changes in fair value of investments**
|(33,420)
|43,645| |||| |**TOTAL COMPREHENSIVE INCOME FOR THE YEAR**|**(96,443)**
|**52,192**| **STATEMENT OF FINANCIAL POSITION FOR THE YEAR ENDED 31[st] MARCH 2023** |**STATEMENT OF FINANCIAL POSITION**
**FOR THE YEAR ENDED 31st MARCH 2023**|**STATEMENT OF FINANCIAL POSITION**
**FOR THE YEAR ENDED 31st MARCH 2023**|**STATEMENT OF FINANCIAL POSITION**
**FOR THE YEAR ENDED 31st MARCH 2023**|**STATEMENT OF FINANCIAL POSITION**
**FOR THE YEAR ENDED 31st MARCH 2023**|**STATEMENT OF FINANCIAL POSITION**
**FOR THE YEAR ENDED 31st MARCH 2023**| |---|---|---|---|---| |||||| ||**2023**||**2022**|| ||£
||£|| |**FIXED ASSETS**||||| |**Housing properties – cost less depreciation**|1,201,862||1,231,085|| |**Other property, plant & equipment**|71,518||78,942|| |**Investment property**|179,500||175,000|| |**Investments**|297,948||338,977|| |||||| ||**1,750,828**||**1,824,004**|| |**CURRENT ASSETS**||||| |**Inventories**|10,833||9,694|| |**Debtors**|102,491||92,118|| |**Cash and cash equivalents**|78,624||136,902|| ||**191,948**||**238,714**|| |**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE**
**YEAR**|(111,906)
||(118,527)|| |**NET CURRENT ASSETS**||**80,042**||**120,187**| |||||| |**TOTAL ASSETS LESS CURRENT LIABILITIES**|**1,830,870**||**1,944,191**|| |||||| |**CREDITORS: AMOUNTS FALLING DUE AFTER MORE**
**THAN ONE YEAR**|(425,993)||(442,871)|| ||**1,404,877**||**1,501,320**|| |**RESERVES**||||| |**Restricted reserves**|705,921||728,819|| |**Revenue reserves**|698,956||772,501|| ||**1,404,877**||**1,501,320**|| |||||| ## **TRUSTEE DIRECTORS** **Julia Furminger Dr Richard Taylor Peter Collard Nicholas Paton-Philip Rev Marilyn Coulter Kelvin Beer-Jones** ## **SENIOR MANAGEMENT TEAM** **Beverley Price - Registered Manager Debra Evans – Deputy Manager Andrea Mason – Finance Manager & Company Secretary** ## **REGISTERED OFFICE** **434 Penn Road Wolverhampton West Midlands WV4 4DH** **AUDITOR** **Beever and Struthers 20 Colmore Circus Queensway Birmingham B4 6AT** **Woodlands Quaker Home Reg. Charity No: 1141622 Reg. Company No: 7577779 Registered Provider of Social Housing: H1395** Registered nutnber: 07577779 WOODLANDS QUAKER HOME Financial st¥lem¢nts Year ended 31 M%reh 2023 WOODLANDS QUAKER HOME INDEX IDformatKJ TTh5tte Direc(ors Report Strategic Report IAdependeAt Awditor'5 Rep)rt io StAtement of Comprebensivt Incom¢ 13 Statemellt of FitMnti*l P05itio 14 Stgteme*t of Changes i• Reserves Is StItt￿e7t o[c￿sh FIow5 16 Not¢s to Iht Fi￿*￿(1¥1 Sl¥t¢men15 J7 WOODtANDS QUAKER HOME INFORMATION TRusfEE DIREcfoRS Julia Funninger (Chair) Richard TavloT (coiiv¢￿rof Finw¢ & 0￿ratIOnS ) PclEr Collard Nicholas Pat0[￿philip (Convcnor ofC3r¢ ar¥J Siaffin8) M&rilyn Coult Kelvin B￿l-jOneS REGISTERED OFFICE 434 Penn Road Wo[vethamp￿n W¢51 Midlands WV4 4DH AUDITOR Beei'er and Struther$ 20 ColtN)r¢ Circus QUeens1￿Y Birmingham B4 6AT BANKERS Lloyd5 Bank PIC POBoxlO 37 Queetj Square wolverl￿nP1on WVI IYH REGISTERED NUMBER 07577779 CHARITY COMMlSSIOli flu￿]BER 1141622 WOODLANDS QUAKER Ho￿1￿ TRUSTEE DIRECTOKS REPORT CONSTITUTION Woodlands Qiiaker Home is reEisLered uTNler the Q)rnPHnie5 Ad 21K>6. rt8is(ered nutllkr 7577779 and is a rtgistercd cliariry.. r￿istered charitv nu[Th￿r 1141622. FUTURE DEVEtDPMErus The national sknrtage of Adult Social CaT¢ iiDrkers 5urgin8 OT￿1]0￿￿1 costs have put OJEanisaiton ￿lder Cor￿Iderable fjngncial pr￿sUT£. Tru91ees ate adively tak'ing steps lo ensure that Wt)odlands Quaker Hom¢ Tem&ins viablc and our irnm¢diaie focus ivill be to remm th¢ organisation to an operaling￿rp]u5 ivhi15t knherirtg plans io.'- 0 Work collaix)ratively with similarorganisaijons QFntiThiie our commi1J￿￿t 10 ikK'Real Ltving Wagc. O Adopt digit￿ tare iecords in linc ii'ith t1￿ Govcrnmenls Adiilr Social Cate reforms Participate in research projecis led by thcNaliotthl IN￿l￿te for Healih & Cart ReseaTeh TRusfEE DIRECTORS The folloi¥ing membeT5 held oifice fTOTn l April 2022 10 the da* ofihis rerrf)rt. wiles#oihtnvise stated. Jilliari￿rningCr (Chairl Richard I'aylor ICoDvenoT of fitwKc & Operaiiorts) Pffler Collard Nicholas Poion-Philip (Convenor of Care and Starr￿} larilyn Coulter IAprKbini¢d 2P April 20221 Kelvin Beer-Jone5 (Apw>in¢cd 2P ApTiI 2022) The Wwd13nds NomitMtiQD5 Sub Commillee Tn￿¢¢ Dir¢¢wts for ap￿]ntmen1 by lhc Cenlta] ErtgI￿d Qwktt Area Mttling. Each apwinlTncTri is foT a thTee )"ear itienniurn. Ai tlic erKi ofiheir fjrsi irienniui Trusiee Directors n)a>' be re-nominated atjd re-ap￿￿7M1td for a furthtr ihret ycar5. T]iev should iiot seTre InoTe ihaTr nine conswiit¢v¢ Yeats. b￿1 exceptio1￿1[¥. this mai. be 8p]xDved bv Ccniral England Quakers (CEQ). Folloi4ing 3 break Ihey may ￿ ￿Minated and apwirtrd agkin. All Ttus(ee l)irectOTS give of th¢ir lime fTeely and receiN¢d no b¢nefits of remutKr3tioD from the Il'(m)dl￿ds. TRUSTEE DIRECTORS RESPONSIBILIT(ES ChaTily l.egi$laiion reqtsiTts the Tnisiee Direclors Io PTepare fiiiaiKLaJ 5trtemenis for ead) fitwcial ycar ii'hich giv¢ a true 8nd fair vieis. of (he siaie of th¢ Il'ood13nd5 as ai ihe c￿1 of thc financial year and of ihe income and txpertdiliire of Ihc Wood1￿￿5 lor t￿ )"¢aT ended on itk" dale. In preparing Ihosc finarKi&I siaienient5. suirable accounting tKblicies havc been us¢(L io the besi of t￿. I"rnsiec Direclors ktTroiwledge belief. by rcferencc to r¢asoAable a￿1 prudcnl judBemenis and e51imal¢s and applied coDsix¢ntly. Applicable xcounting standatds hai'e beeft follo%%'ed. -rhe Trusiee t)iTectors a19) rryui￿d to inditaie wthere Ihe financtal 51aiemenis are prepared other than on th¢ iya5iS thot the ￿j00dl￿dS is a goi1￿COr￿¢ni. The Tnistee Direciors are r¢spon5ible for cnsuring ihal atrdngenienis are m&J¢ for keeping proper books of accoui)11s'ith r¢spe¢i io the Woodlands iraJjsxiior￿ aJMI assels and liabililic5, OtMI for mainiaijiing i saiisfaeto s}'slem of conlicbl over the Wwdlands, Fth)k5 of accow]t 8tK] Irai￿110A$. TIK Tnistec Dirwlots are also responsible for ensuring arranoenKn15 ar¢ Jnad¢ 10 safeguard Ihc asSeis of Ihe I¥,(x)dl￿1￿$ aThl l)cixe for iaking rtasojiable si¢ps for the pres'ention and dclection of fra1￿ a￿1 oihcr ir￿gularItIes. cor¥lPLIANCE IVITH THE REGULATOR'S GOVERNAYCE AND FINANCIAL VIABILITY STANDARD The TrLlStee Dir¢cioT5 LoiifLmi Ihai ihe Ass(*ialiort Coftjplies i1.ith lh¢ ReqiiirLtTr¢t)ts uf ihe r￿'istd &)veriiantt nd Financial Vithiliiy S￿lldard applicable for Ihe %'ear. IVOODLANDS QUAKER HOME TRUSTEE DIRECtORS REPORT DISCLOSURE OF INFORhlATION TO THEAUDrroR{COryTINUED) Each of Ihe D1￿cLOt$ at the date of appToval of thi5 rq￿ have o)nfirtrLd tt￿t.. As &8 Ihe Dire¢ttsT5 are aly￿ tkn 1$ Tr) ￿kYarn a￿111 infonnaÉion of M"hich the Association's alldiior 1$ unaivare,. and The Dir￿lor$ have thkert a]1 the sieps thal tly ought to as Direrlors in order to make tkJn5elvcs a￿Te of *ny rel¢vant audil inforniation io Èsiabli5h that tk Associaiit)n's auditor is aiYaTe of ihat infonnation. Approv¢d by the Trustee Dittttor5 6 Novemb¢r 21123 *xd slgNtd om its bthalf by: Paer Collard- Tru5ttt Dire¢l•r IVOODLAf*l)S QUAKER HOME STRATEGIC REPORT PRINCIPAL ACTIVITILS Th¢ win¢ipal a¢tiviiie$ or the W￿d[alYJs ate the provision of #ccomfflodation athl tart for Old￿ people through 5h¢ltcrcd IM)LLsing 8JJd residenti￿ car¢ facilitie PURPOSES AND AIMS We havc TefetTed io thc 8uid8JKe in Ihe Charity Commissw)n$ 8etwd guidarttt on wblic lThefii when reviewillg our aim5 and objectives and in planning [￿ure ￿11￿.11]es. The Woodlands. ￿lIded by QLwker And Wal￿ wovides 24-hour r&8idential cvJe for 45 r¢5id¢nts ai supFN)rted ￿￿O￿r￿0da[i0￿ in the forni of 25 Primarily for ihe oi'er 60& rligibilit). for ihe w￿)dIal￿15 Trs on a ￿ed5 assessed basis. The Wwdlatmls has a p)silive TE8ard for diversity and equal opportunilies ￿ ensures lh￿ ￿}. reql￿St fi)r it5 s￿viceS are Ireaied equall}. Where financial a5sislanre 15 nv¢ded, the Woodlands ivill Provide suptx)ffj guidatK¢ and inforni￿10n on appropriale Is and benefits avai]able. The WoodlarKt5 OtrrdtC5 a supw)rt ￿hleh ¢an provide fJnaThcial a55lStanc¢ to residents. or roleniial residents w.ho are in need to (over the sknrtfall lth'ten WrMxlla￿lS fee5 and local 8Utlk)rily SUPFQrt rai¢s. These ￿￿ureS help io ensure th￿ people ¥e widuly exclii(kd from lh¢ W(y)dlands due to insuffi¢ient means. Our Primary at the Wcthllands is ￿ proTride quality accomr(KyJation i¥ith high qualil) l¢vc15 of UT¢ and support. Perforniance 202212023 has been a chillen8in8 at]d ditriGuII )'caT for Woodianth Qwker Home. All GoveTninel￿ grartl siipport linkcd to the pandemir ¢8me to art eNI. the loss of this fimding significant 35 we ivcre Still draling iviih i55ues C8us¢d by ihe pandemic ￿hlIs1 aiming ty ￿5¢ ka, aTfdS of our FKTfortn#tKe ID Ptt-partdemic levels. All r¢inaining Covid.19 restriciions %%'ere lificd ill February 2022. Case5 amortgst staff i%ctr ljigh iii April but ihcn lailcd off iviih no casc5 TcrK)rted over (he sun)mcr for ￿aff or residents. CtsnsequeThil)', expendiiLwe on inf¢clion prev￿111011 PPF. reduced and iir continwd to utilis¢ th¢ f%HS PPE ]x)rtal for items swli aprons and go%ns as ih porlal ivas exlendvd io MaTch 2024 01 uKrtil stocks depl¢ie. Siatr absence5 duc to Coi'id.19 i¢du¢ed from 219 da)'s in 202112022 to 55 dajs for }ear. Whilst CoYid-19 c85¢5 iitre loiv ive ii'erc v¢r> unfortunaic to have ouibreak ofIntliienza iype A in D%trnbEr. Staff INI Tesidethts ii.ete lookit¥ loi¥¥aNI to a re51riclion frce Clwistmas and iver¢ dIsap￿1n1¢d to hair the IKI]n¢ ¢losed foT ihe wod 22 December to 5, Januar). and have c%'enis &nd .Trclivities Ca￿elled. To coinpei15atc for ihi5. rnanagemen¢ cr6wed Ihai ￿livI1]eS 8nd e%enis iviihin t1￿ hoine ii"¢Te incre&sed varly in lheN￿V Year. One leEacy of Iht pa￿le1￿1¢ ¥v&s Ilie eTh)rn￿lL$ irnpac¢ li hwj on sknff M'iihin ￿￿la1 eare. The m￿tal and phjSiEal demallds of working ihrou8h ihe patde]nic cath to ltsN'¢ sector aliogether. This resulted in a national crisis and vaTriic)' raies iyithin ad￿11 ￿la] tatL' reaclKd tsnpreceden(ed le¥rls. StatT r¢l¢nlion during the jear li'as ¢hallengiiig, Niith tt)any sthff leaving the organisalion for a thange of ca￿et. LxpcndiluTt on agenc). slafting ilas ikntfurc vtt) hiEh ihi5 comr1￿11￿1 io the significant def￿11 for ihe )¢ar. The Ca￿ sia(fvacancy rale il'as 150/0 for the }'ear. alihoiigh inclii(kd in this figuTe iltre 3 p)sis va￿ll1 diie 10 matcniity leave. Re¢ruiiment improved during the summeT, and itrc iier¢ fonuiiaie to recniii to i'acant carc y15iliot Ai Ihe slart of ihE }"ear oiir milli￿u[￿ pa>. level i%?s £9.90 Fr hoiir iihich matched the 'ReJl Lii'ing Illage, hoiirly r*ie w b). Ihe Living i¥2Ee l.owidaiioJi. The Li%'ing Illage Foiir¥J*ioD 5l&)5cqu￿l7). bTouglii fi)n%1￿d ihcir i11c￿45¢ in September 2022 from £9.90 per IK)UT io £10.90 per irttrease of 10.IYo, Ihe biggest )'ear on )'¢ar ili¢T¥>ge since Ihe Lii'ing Wage l.oundaiion lias fouNi¢d in 2011. This in resp)tse io lh¢ Sharp increase in lii'ing cog1S .hich pushed inflatiDn figurts to Iheir highes1 for oi'cr 40 &iars. li'e recognised the cost-of-lii'itjg pressures oilr i'orkfortt iiere facing and from Noi'¢rnbci 2022 i1"c approi.ed an interim pa!, increJsc of 2°, to all 51atTio increc75C our minimum pay Iti'el to £1 O. l D ptr hour ii'iih a i'ici%" 10 a furthtr iiicrthse iii April 2023 to bring the rdie 10 £10.90 p¢r hour. I￿.¢ a150 appro￿ed a geneTOUS Chriilina8 bonu5 1i1Jich i%&s i￿¢11 ￿ce1¥¢d. Wc bcliei'e thai tliis approacli atKI continucd comtDitn]ent io (he Real Lii'ing Wagc dcmo[W￿e5 holi much i¥e i'alue. apprttiate. &id recognis¢ Ihc iniportani i%ork our siaff (k>. Opernting Costs Finanr¢5 I%'¢re alTead)" uThler pressure for first quarter of Ihe }ew #s i%"e i%ere managiIig a coinbiiiaiion of high aEenLN siaf]Ing cosis and iiiihdraiial ofgoiemmenl Coi'id-19 suprM)rt. 'll)c liar iii Uk'raine had an exlrcnicly (leirini¢iiial iinpaci OD iiknlesale gas priccs and a con5tqiTht of this lia5 a spikc iii iTrFK)It5ale eleLlI'ieili priccs. wOODLA￿T)$ QUAKER HOME STRATEGIC REPORT Elec¢rirÈty contracts for ik organisaiion rencm'ed * the ￿ginnIng of Jun¢ 2022 Ir￿CaSed by lo￿/# and Vladimir Putin s decision to ¢ut off gas swpl). lo some European tounirie5 t￿0Mpted a gas pric¢ T15¢ to 8n &ll-lime hith in Au8u51 2022. Tile gas contract for ihc orwisaiion w'as due ai the (rnd of Augusl a￿] we ivere fa¢ed with price incrtrages of over SI￿/0. this tIKT¢for¢ Ixcame an exirernel> i%otr)ing for b)thsenior mana8emeTrt and Trustee5. Represettthiive Ix)die5 for proi'iders of Ad￿1 ￿Cial CaTe lobbied the goi'emmeni io supwrt tlK sector and senior Mat￿gen￿[￿ propostd plan5 to coni'ert a In￿lI￿rne￿ing room ￿ Ilr ￿[¢ home to an additionol brthoom with w room facility. T￿￿1¢¢5 quickly apwoN'ed Ihe PrO￿saI￿ iithith would irtrease itKotne and help to ihe in¢Teased demand for resideniial care trEds in Wolv¢rhamNon ii'hich had risen io NHS Winler discharge plan. The convcrsioTr of the neN' room quickly wrnpkted: Ihe Care Qualit> Commission appJDved the rt)om 8tMI increased the registration for ihe home fTOTll 44 10 45 beds on ? December. i(*Mn ivag rfcupied from 5, Dec¢mb¢r and aliernJiiv¢ arths tsiilis¢d for niedit)gs a]kl trairllt Tw51ees I]￿l awed lo the ga5 conlwt for 7 nK)nths from 1° Sepieinber 2022 to 31. M#rch 2023 and il CaTn¢ as an enor[nO￿3 relief ivlKn the Government annO￿￿ed (he Enwg> Bill Relief Sch¢nie IEBRS) in Seplember, a lemwrary six-rnonih measknTe to proleci [M)nthrn¢￿i¢ (1)￿￿ne￿5 from soaTing energ) costs. The 5IIPIK)rl omnienced frDni I" October and liffliled lh¢ organistiiions exrrf)sure (o exorbi14nl ener￿ price5. Total insura￿ce pr¢miLm)s for tk organisaih)n increased bj 22% manv insurers reviewed iheir itivolvement in the clor folloi¥ing the patyjemic and iheTe are rrf)iv only a limited rllrnFkrof willing lo underwrite providers of Adult Social Care. Food price inflaiioTr atKTriher col￿rIbUtI￿8 factor kn the $ignificant deficit rtgisiered ftsr the year. Expenditure OTh fiK%J in the care homc rose by 23P/otompaTed ￿ 20?112022 fi&JT¢5. Food price inflation rose St￿111Y ihrougknut the year 8t￿ reached 19.20/0 in March the fasteu ann￿1 rate since 1977. 11 was difficult lo airt￿1 expendi¢we in ihis area as the il¢n15 that had increased signifJL*nily in PTice w¢r¢ f￿d sthples s￿h as meat and butter. Invtstmewts In (kiober 2020 folloiiing appraisal of k¢y infonnation for invtsrmer4 tTU5t Homc REIT. Tnisi¢¢$ agretd to make an invesimefil as the aims and objLfliV¢S of ihe (tU5t iirTe i'ery much aligned ￿ th¢ Wi¥)dland5 inve51mcnt Sir*e8y aT*J QL￿k¢retho In tkir Iniiial Public OtreTirJg {kn￿l￿nIali0n Hort* REIT said -11 would dedicaied lof￿￿1¢￿8 homelessNe Ihroiigh ftskkdipzg ihe acqtitsiiioA 0￿d creali04 p*w', h¥IHi￿a1￿J, accommodtslion for ihe homele&s. making niiine social iwi. rents ore vvry secwe. governmé￿ backed slaitsioryproleGl¢di￿oU￿- wi¢h a renili£ng Iop¥gfdivNdevdyieldof5.5/0&". A Icport b). Viccroy R¢s¢arch publishcd in Ntsiember 2022 rnised que51ions tegatdiiig the ability of a number of Home REITS social knusing providers to pav rents on protknies aNI Tewrt #Iso hinted at intlaied prO￿rtY v#luaiions. A5 a re5uII, share prico% in Home REIT plujntnded at¥J thcy iier¢ unable to publish their rtslllis at ihe e￿1 of November 2022, Ihi5 led io ihe Silsp¢￿I0n of share5 ai t]* ￿gInning0[ J￿iLlar￿ 2023. Home RF.IT continued lo sutTcr setbacks ivhett iiio of tkir iettani-s entered inio ioluniaiy liquidation al Ilie begi]￿ing ofmarch 2023. AI the eiid of March 5h9rcs in Horne Kl..IT retnal￿d suspended and a lam fittn iitre aptKbinied lo lead a ¢as¢ to C51abli5h i%'hdher Home REIT misled shartl¥)Id¢r& IVhi1s1 share5 in Hom¢ REII" make up a small prop)tiion ofour IoLqI In￿e￿Ment IKildino the dewaluaiion impatie Ihe ovcrnll rtialL&)liort of invcsimenis for Organis￿10￿. SeveTo1 othcr ini'esimenls ii"iihin our di%'erie portfolio red￿d in Valuc mainlN' due to inleresi rae rises and surglljg innation. Proptrty* ￿l*lnee￿anCt. He#lth & S*fety F.XrKndilU￿ on properties and ]MirLILThnce irKre&%td b). 26°h from £IM.308 10 £113,707. of Ilu5 cxr£ndiiure £18,436 Il'as capitalised, iyiih £13.186 of ilK5¢ Costs beiJE for ihe coni'¢rsK)n ofihe n¢¥%" Totsm. Ga(¢s and fencing iiich irtlli5 i*ere insiailed ai ihe lear of the care tM>me io obs¢ure IIK bin area froni the vieii of Sotne of the ro0rn5 and addiiioiial eki¢rna] s￿rage space ￿75 crealed iiiih the COtsiru¢iioTr of a lean loo adjaceIii to maint¢nanc¢ shed. This ilas nceded as prospcclii'e residents are t[￿ouraged lo persoiialisc thcir 1￿MS ii.iih ilicir oi%'n furnitLir¢, al￿ wilh limited ifflemall).. exiernal storage requiTcd to store e¥ce5s fiirt)ishings. IVOODLAP4DS QUAKER HOME STRATEGIC REPORT To%YaTds the end ofihe Jear at] ekctronie key pAd liDked to lh¢ fir¢ alarm system Wds fitted to the front iknr of th¢ care horne ot signifJ¢artl ¢ost, ihis was emergeJKy t]M%ure Lo [￿￿tIbe risk of re5i(knts ¢xilit4 the buildit The PAddo¢k Suptwjrled HoHSiDg Schenle The Paddock had a s¢ttld )CHT- Ivith jus¢ one Ilai t*toming %a&int for a very slu)rt period in Deceinber. The weekerKJ supp)rt uorker left the schemt irt AuEiL%I 10 in education &￿j t¢rMnt5 MfTe happy for support hour5 to reduce 10 6 days per M'eek MotL- Sat, ID the k￿%4.1¢d8e that tly could call thc care home on Sunday5 if they rteeded inJnediai¢ &55iStance. Looking forward Occiipancj for the pHddock knusiDg wa5 1(W* and (x¢upancy lewEls for the care IKbtne ¢oniitiued io reahver following the patmlemic from 95Yo it) 202112022 10 96.2% for }'ear. D¢sPite disappointillg financial r¢sii115 Il'e are encouraged bj these ftigur￿. Adult Social Care needs significant inves￿e￿ dLwing the >rar 5¢nior were SUp￿rtIng Wolverhampton Ciry Council I￿11h tlK implemtnlalion of the'Fair tost of Care, ref0nnS￿ thei. had been designated as a 'Irailblui￿, locd authority to implemeni lh¢ r¢fornis early. Ir therefore di54PtM>inlin8 thai in iheir Novcmber 2022 Auturnn statcrnent. the goveThwn¢ni anrm)i￿Ccd thai refonkns ivould be posiponed lo Odober 2025. As a general tleclion rKeds lo be held before January 2025 it is likely lh￿ ih&se refotThs ivill happen. As well as the ￿￿5t[￿neMtllt of th¢ refor￿LS 10 tar¢ cost4 key fundit¥ for other areas of social tste Mete reduced iknugh revttsel of the 1.25% Naiona] IJL8urdnce ley). rtom 6 Novetnbff 2022. The'Adult Social CaTe Digital Transfomuiion Fknnd. has ]M)i bttn ithuced ar￿ the organi5ation ivill be taking Steps to en$iv¢ thai digiial 9)Ci￿ records are implemenied ivhi151 fundiDg is ai"ailable. Managerncnt r¢gi5tered iiith the ENRICH programm¢ (ENabliThg R{￿arch In CaT¢ Home5) rw) by the Nalional InstiliJl¢ for14¢alih & Care R¢searth. Tiyo jwlies commenced i%iihin ihe care hortie during Ihe Star. The fiysi ihe 'Viialdi' study colleetcd dala frorn knih Yesidenls siaff io llK)niror the ¢ffi¢4c) of thc ti>vid-19 I'accines. Ih¢ secoiml siiid> Called AFRI-C l Air Fillers lo prtieni Re5pir81ory Infeclion5 inCIL￿l￿g Covid in care hoinesl ainled to establish iihethcr air filler5 redu¢¢ couglL%, colds, flu 8nd Co%id-19 in care hortTre resident& Ik>ih 5tudi¢s Nseni i¥ell and ho￿ to parlicipaie in fiirther siudies in ihe flliure ikhich Ullin￿tely aiin to ifflproTre Ihe qualily of life and ￿¢ roT residertls. It ig in¢vilabl¢ our rc5id¢rfial care fees is'ill 10 increase eonsidcrabl), io matmge rising tsperdiional costs. Tn doing so Is'e will tjisure our fee5 r¢main COM￿1711￿.¢, awj any 'tOP UP5. Il'ithin ih¢ M&￿S of local auiknrily fiindcd reside1115 50 th￿ they are able lo access our Service. Wc art coinmitted to providing high qiwlity care arxi hol￿1ng Mith supw>rt giiided bs the Quaker valiies iiKX)n which 'c iier¢ folinded. We aTe confident ihat li'e 14.ill ¢onlinue and llourish despiie amiher very Challe1￿Ingy¢￿r. WOODiANDS QUAKER HOME STRATEGIC REPORT Value For Money Woodlands Quaker Hotne 15 commined kn 8¢tting th best valuc for moty in buying 8￿d$ athd Servic￿ atld also in how ￿¢ actually do ifvoik so that we can delivu the righi service to our rtsideTrt5 and ienants in ihc mosi CD5t effective and efficient way. M'wllaj￿s QIMk¢r Home will ronsuli ivith the of it5 5eTVIC¢5 10 ensi￿c that iheir irt¢r¢sts are iakert into ¢0115ideraiion achiei'ing this objeciii'e. Th¢ knior Management Team and Tw5tec Director5 eThsLtre i]x¢ is:. RegulaT 5Gniliny of cosi perftsTmance agai1￿1 budget and comrwiwn of 0￿rating costs willi similar orgaNsalions. > A robu51 Proc￿£￿1 proced￿¢. R¢gUI￿ review ofa8seis and asset perforniartt. > Regul￿ reviews ofihe organisatK>rts siafting ¢Yablishmenl 10 ensiire the S¢nKture i5 &s etTiciemt as Fv55ibl¢. Rcgu13r SMT meeun8s i¥hi¢h on quality atxl best value in procuremtht ofow good5 a￿j strvices. > The use of ptofes5ional adliisers ￿ 51VJX>n Prociirtineth. > A clearpm¢ess for [￿a[￿ging a￿1 mDnitoringcomrdaor& > Periodic reviewsof aTEas of 5¢rvjce. The R¢gulalor of Social HotsSI￿ requires regisier¢d P￿￿'1deTS to rewrt anrtknall&' on ￿rrOrn)ar￿ againsi a Set of seven key n￿aSur¢S detined by the Tegulator. The rtgulator hfjs selcc(ed (he i'alue for It￿neY metrics thai work for thc [najOri￿ of providers biii appreciatC5 Ihat for ctrlain providets the data rTrav need claiifitatiotL The Woodlaiids QEiaker Home is knih a provider of social housing aJKI a ￿re home ￿Ter0T¢ Ihe results i%'ill not b¢ ¢omparnbl¢ i¥'ith Ihai of a t}'picaJ Social ho￿%]ng provider. The iable klow 41eiails ihc organisatioft's i'aiue for ]ntsn¢y melrics for 2023 alot¥side the perforn)aw¢ in 2022. 2023 2022 Re4nvesiincnl OA 1.53Q/è 0.36D/o N¢iY supply delivcred % Gearing Y. EBITDA MRI Yo 1.43°/0 O°A 39.7WA 34.93U/ .769.OIYo 1084.83Q Headline social hou5111 cost er unit Sheliertd HoiJ5ing Home Care Home Sheltered Housing £6,183 £39.501 £5,908 £37.023 erAti f*lir in Social Hul￿1Thg Letting5 Oi'¢rall 4.86Q/¢ -i.14°10 2.74ty/. Rcium on Capital etnplo}'ed -5.2P/o 2.68¥è WOODLANDS QIIAKER HOME STRATEGIC REPORT INVESTMENT POLICY The Trustees hai'e the FX)wer to inve& fi]nd5 th)1 immediaiely required k)r opmtkon&l purp)ses in s￿h investments as they thiitt fli. Investments held by the Woodlajth hai'e IKen arqwr¢d in accoTd8ntt with ihese roivers. There are no restrictions on Ihe chgriws Fower to invrsi, howtheT &$ a Quaktr OTEaiiisation Tru5tec5 ettsUTe that invtstrn¢Trts aTmam¢ni$. a]¢0￿11 Lob￿1 are avoided along with inve5tsnetJts thai are in conflict ivith its chaTiiablc objeciives. Tlie clwiW$ ini'¢sim¢nts ar¢ t)￿￿8¢d ￿ opiimise rdum arld Trustee5 adopt a lower to Jnedium risk ￿lIcY in respect of asset alloc&iion. R¢5erv¢5 Ptsli¢y The rM)licy for iinresiricled reseti'es is reviewtd cacli year by the Fi[￿n￿ & OwatiDns C4)mrniltee. They ensure ikni the target they sffl ivill be capablc of= > ￿0Vid]ng sU￿telent i¥orking capitaj for budgded otKraiional ¢tsmmibnents > Fundingresw>nsive a￿lOn in the evert of a sigpificant fIr￿Cial doiiTrthm > Replacirtg ￿¥)￿illE assets as ily Mwoui In 5elliDg tht 13Tgel: the Directats tskt attounl of risks that might irnW on the lei'¢l of ￿selVeS required. Thev in¢lud¢: > Tim¢ ne¢dd 10 implement 01￿110tH1 reS￿￿Se Io 8IIy Slgnificani redudions in irKornc > Derethceon and reliabiliry. of irKlividual incojne 51TQtIts > RobiLslness of the iniemal re￿dIng and res￿￿5¢ rneilK)d The ¢urreni policy is for iirtresiricted fiinds held by the W{x￿1￿￿$ to 3 mtsnihs ofrestswtts expciided ivhich citrrenily eqlial￿ lo arol￿d £495,000. At Ihis l¢vel TnL%iee J)ir¢¢I0￿ feel Ihai iiould b¢ able lo conliTriie th¢ urrent activitie5 of th¢ Woodland5 in ts cvent of a si￿1[1Can1 drop in inoiine /di5ruplion to its atliiiiieL II %IDuldobwiousl).' be necessary (ts cortgidet h)%¥ tlje ￿llding I%￿111d be replac￿ oraclii'iti¢5 ¢hanged. GOING CONCERN I he 'fr115tCC5 consider ihat the IV(Kbdl?nds is lyell placed io manage its busiJie55 risk5 5uccessfiill)'. Aftcr Inakiiig ciiquirics, the Trusitts have a reasoffdble expeaaiion thai ihc W(yKllarLds has adequate It￿UrCeS io coniinue in opcraiional existence for ihe lorsttable fuiur¢. Accordingly* thcy continue ro adopi ihe goiiJ8 COtKem basis in preparing Iht financial 51aiemeiits. WOODLANDS QUAKER HOME STRATEGIC REPORT FJNANCIAL RISK mANAGEmE￿T The Woodlands ectiviiies expose it lo a number ofwTrtential fina￿181 rtsks incllldi￿ ctedit Ti5k. ca5hlloiv risk and liquidity risk. Ho￿tTr¢r. the w￿dIa[￿J$ does ￿)t have anv $ignific4ni exiernal bottoilings or cxp05urc to Significant renl arT￿r$ so th¢5¢ risks arc Illiti￿ed. Tr WLN)dlaThls principal financia] assers ¥Je housing propertie4 bank balarKYs and rash. Tent arrears. rtceivabks invesinie4JlS. Approvtd by th¢ Trustee Direttors tstt 6 November2023 Axd signed on its behalf by- P￿et Collard Trnsttt Dirretor IliDEPENDEP4T AUDITOR'S REPORT TO THE hlEMBER5 OF WOODIANDS QUAKER HOI¥IE OpinNJ We h%v¢ a￿lite0 the St￿eMents of W,0￿1[aImI$ Q￿k¢T HonK (the 'clwity'l for th¢ }raT ¢nded 31 March 2023 ivluch comprise lh¢ Stalen￿1 of Cotnprehensiie ItKx)me. thc Staicllteni of Finartcial P0511ion. Ihc Statement of Changes in Reserve& th¢ S￿l¢m¢￿( of C&sh Floiis and no￿5 io fIna￿l81 st8lenieDIs, jD¢1￿111)g a 5UtnThAry of significa]il acrounting polities. The fiNtKiai reponing framcwDrk thai i*a] upplied in iheir pitparaiion is applirdble laiv and United King(bTh A¢¢ounliDg 5tathlards. ittluding FRS 102-Th¢ Fitwicial Reporting Siandaid applicable in the UK ztd Rcpublic ofIrtiand- {Uniied Kin￿0￿ Gettrally Accepted Accounti￿ Pr&¢iicel. In QUT opinion, the firwKial stat￿¢￿t$. > give a Irue a]xl fair vi•v of the sta* of the ¢hatily's afflits as * 31 Manh 2023 atvj of its results for Ihe yeaJ th¢n etKicd; > have been propcilv prepaied in accordan(% iiiih Lnited Kingdom Gener411) A¢ttp*d A¢¢oifftiin8 Practice- > ha%'e prepared in accordatKe ￿'1th thc require]ncnts of the compani￿ Act 2006. the Housing and ReEeneration Act 2008 and the A￿oU￿1￿8 Direaion for Privale Regislered ProvideTS ofknial HousiIi8 2022. B•$is for opinio We condiicied our audii in accord￿ with InlunatiOL￿I StsThlards on Auditing IISAS (UK)) aNI applicable laii. Our respmsibililies under those SLandaTds are fvnlKr (kscribed in A￿li0[.S ￿SpOnsibl1]tleS for the al￿1t of th¢ fingncial s1￿c￿entS s¢clion of oui T¢P)rt. We art iNki*thL of Ihe charl￿. in accordance with the Ethical requiTCtncnts thal arc telcTrani to 0￿r audli of thc fjnancial sialemenls in ihe UK. iD¢luding the FRC'S Eihical Standard i¥e h&ve fulfilled OUT Other ethical re5tK)TLsibilili¢5 in ￿￿rda[tt i¥ith ihese requirenients. We believe that the audit evidence ive have obiained 15 5ufficieni and apwoprialc ID WDI'ide a b￿lS forour opinion. Conclu51O*5 relating to going In aiidiiing ik financial sthicments. hai'e concluded I￿( the Board'5 use of 8Ding cor￿CT￿ basis of accol￿til in ihe prtpwaiion of the f)nan¢ial *at¥tnenis is appropriaie. Based orb Ihe 1sDrk li'e have wfomjcd, lit hav¢ Mi idtTrlified any ma(ttial uncertainties rclating to ¢v¢nis or CO￿1]11￿n$ thai, irtdii'iduall), or collectl%'ily. ma). casi sigjiificani doub( 011 Ihe cotnpan> 5 abilit). to conliniie &5 a going concern for a period of at leasi ii¥¢lwe moNhs froin ivhen the finartial siaiements are aullM)rised for issue. Our respo￿lbilitIeS atKi the r¢5EM)tksibiliiie# ofihe Boatd res￿￿ ￿ goin8 n5ibk for the otkr infotmaiion. The infoTmaiion coinprise5 Ihe infofmalion includcd in lh¢ annual TCPQrt, other than the finan¢ial siaietJ*nis and our a￿lIOt.S re￿rE thereoii. Ow OPiTh￿￿ on Ihe financial slateinenls does tX)i coltt ihe oiher inforniation aThJ. exctpi to thc extent otheThvis¢ expli¢iily $taied in our repon, do iiol ¢¥prtss form of H5surnvc¢ coJKIu5ion ihcrwn. In colliieclion i%iih our aiKlit ofihe finarKiai 5ts¢¢meTrts, our re5w)nsibilil) i$ 10 re￿ ihe other infonnaiion aThd. in (k>ing so, LOJ15ider iiheiher t￿ oihEr inforrnalion is [nate[￿lI}. inc0115lSltiil ii.ith the financial siaternent5 or our knoii'led8e olAairted in ihe audit or oiherii'ise appeals io be maieriall%' mi55Ial¢d. If id¢Tilify siKh material inconsisieiicies or appareni maierial mi551aieimenis. art required 10 ddeTtnine i%"heiher ihtrt is a inaierial miSStalenienl in Ihc finaLKial 5tat¢tnenls or a ￿#terIal tnissiaiernent of IheoiheT intormaiion. If, based oli Iht ivork i¥ hai'c pcrfotnicd, ii"c concludc Ihal Ihtre is a maierial missthiemeni ofihis oilKY inforinaiioii. are Twuired 10 rcport t facL We hai'e noihing 10 rep)rt irt ihis rtgard. Opinion5 Ull otlier Tnatt¢rt prtstribtd by the Companits Art 2006 In OLir opinion: based on the i%Drk widenak-eji in ihe course of the aLK4ii.' > inloTmaiion giien in the Siraiegic Re￿rt at)d ihc-fn]Att Direcior5 Re￿rt for ik financial year for iTrhicli ihe fiv0￿181 $lai¢nieiiis are prepared is consisieni i%'iih (he financial siaiernen15- and 10 INDb.PENDENT AUDITOR'S REPORT TO TIIE ￿lE￿IBERs OF IVOODIANDS QUAKER HOIllE the Siraiegic Rewrt and tk Tntsiee DirffloTS RerM>rt have b¢cn prerAred in accordance itiih applicable legal req￿i￿LM¢￿ts. Ilatters on which we art tt4uired to report by eiteptio¥ In light ol'ihc knoii'l¢dg¢ and undLfsianding ofihe chatil)" and its eni'ironmeni obiaincd in Ihe course of the audit. li'e have not idenlifttd maiLYial mi551aiements ith the Strategic Retx>ll or the Tru5¢ee t)iTectOTS Re￿rt. We have rKbihing io report in resr*rf ofihe folk)iiing matters in relation to ii'hich the Companics Aci 2006 rquir¢5 us io report lo )'ou if. in ouropinion-. > adeq1￿te accounting r¢cords have llDt l*•) kq)I, or retums adequale for our audii hai'e tx>i been Tec¢ii'¢d from brattLht5 not i'isited b). us; or > the fjnancial sthtetnenls noi in agr¢¢rn¢nl iiiih the acLI)unltTrg records arnl or c¢rtain di5closiwl￿ of diTectors' remurtraliotl S￿lfiC b). laii ate not Tnade. or lie have T￿1 r¢c¢ii'ed all Ihe informalion a￿1 cxplanaiions iir require forour awlil. Responsibilities of the Tru$tt¢ Dire¢lors {tbt B0￿rd) As £xplained fully in thL Siai¢ment of rhe Boaril's reS￿￿sIbIlitIeS sd on page 2, the Board is responsible for the preparation of Ihe fIna￿cial sthiement5 and for king satisfied that Ihej gtve a true and fair %'iLii. and for such inierrLal ￿ntrol as (he Board determi￿ is nctessar). lo enable iht pt¢paralion of fIn￿l¢la1 si8iemenis that arc fr from mateTial ]ni551al¢meM. ii.heih¢r du¢to fra￿1 oretmr. In prtpaTiDg financial #al¢menls the Bothril 15 r¢s￿￿￿51b]e for as5C55ing the charity. s ability 10 continue 35 a going coneetn, diKlosing, as applicable, ￿￿terS rela*d io going coneem and usin¥ IhL going conceni basis of accoiinling unless ihc ljoard eiiher int¢TK15 ￿ liquid￿t the charit). or io owaiion* OT hai'¢ no realistic aliernolii'e biii to do so. Auditor's respon5ibilitie$ for the Audit of the financial stAtemettts Oiir tibjeclii'es ari io obidin rca5011ablL aS￿ra￿ll alK)ui iilk"IhLY the fIn3￿cIal slalemenis as a iiholc aTe free fTom material misst&l¢m¢nt, i%heiher lo frdiMI or crmr, a[￿ lo issue an a￿111￿[ s rLp)rt that includcs our opinion. Reasonable assiiran¢¢ 15 a high lei'el of ass￿￿[￿¢. bui is noi a guardTrirt 11*1 an audit CO[Ml￿1Cd in accordaiice iiiih ISA5 IUKI iiill al¥%aJs del¢a a maicrial misstalcmenl li eKlSlS. Mi551alemenls can arisc from fraud or ¢rror and are corLsideTed material tf, indii'iduall). or ith aggTtgaie. Ihe). could rra50nabl)' be expeaed io influence lh¢ economic deLlSiQllS ofusers L2kL'n on Ihe iwis ofihese financial slaremenis. Oiir [L￿P￿nsibilIt}. j5 to audil and express an opinion on th¢ financial siaiem¢nt5 in accordanc£ i%'iih applicable la% and Inierjiaiiortal Stsndard5 on A￿lI1]ng IUKI. "I"hose siartthrd5 rcquire us io complj ii.iih ihe Financial Re￿ning Council's Liliical SiatKlard. A fuMhLY description of oiir res￿nSibIli11¢s for Ihc audit of finW￿la[ si*emenis is located on the Financial Reporting Council-s lid￿11¢ at Thi5 lI￿crip110n fornis part of our auditor 5 rLport. EKtent to *hi¢h the #udil TA'a$ eonsidtred cgp8ble ofdete¢litt2 irrcgulgrities including fraud 11-'e id¢nlih' and assl￿5 Ihc ri5K"5 01-maierial mis51alern¢ni of Ili¢ fiiwnLidl slalemenls. iihLihir duL 10 fttud or ¢miT, and IhLm design and perform a￿lI T¥ocediires riSfM)nsii"t lo tl¥)R risk-& i￿]￿ding o￿aining audit Ci'ideiice thai is si1￿1¢ILni apprc?priale io proi.idt a bJsi5 for our opinion. In idLniif}ing atKi addressing risk5 01 material Missi￿c[￿ent in restKa of itregularilie5, Inc1￿ling fraud and otnpliance iiiih la115 atKi regiilaiior6, our PTtKedures includcd the folloii'ing.. 11 c obtained an underststkiing of laii"s and rigulaiions thal afteci ik charil!. r￿USing IIK)5e Ihai liad a dirLLI efteLI on ihi fitMn¢ial sialemL￿iS 01 Ihai had a fiindamcnial LtTe¢l on ils orKraiions. KL* laiis and r¢giilalions that i%e idLiiiiliid incli￿ed ihL Companies A¢1. t1￿ Siaiemeni of Rtromrnl￿ed Pr8ciiLc rot rLgisIL'fLd hniisiiig prui"ider>: I lousing SORP 2018, Ik Ilollsing and Regeneraiion Aci 2￿8. thc Acrounling l)ireciioii lor Piii'ale kegis1EfL￿ Pmi-idif5 01- Socidl Ilousing 2022. i&x IEgislaiiotL healih ajid salL4! ILgisldliun. and ernplo%niciii II'L tn4uirL'd uf the ljoard and rei"i¢iied CO￿t5p)ndit￿￿ aEJd Board nicLxing miiiuies fcir elidence of lion- LxiiiipliaiiLi Iiiih rilci-ani lai%s and Tegulaiion5. 11-c also rL*-I￿}¢d controls Ilie BoaTd hai-e in place. iiherc tie¥¢￿￿7￿. lo ensurL' compliance. TNDF.PF.NDENT AUDITORIS REPORT TO THE MEMBEILS OF WOODLAliDS QLAKER HO.ME Wegained oo ￿derSta￿lIng01 the controls l]w t1￿ Board have inplac¢to wevent atyl dc(t¢t fraud. We enqiiired of th¢ Board aix)ul ony ijKidenrts offraud ihat had takn plxe duringthe a¢couniirtE period. The risk of fra￿1 and nort-complianLE i%'ith laws and yegulaiK)ns 8JMI fraL¥J dIs￿Sed ivithin ily a￿lit team and t¢st5 iYer¢ planned and per(orn)ed ts) address iisks. Wc Fdcnlified the FX)Icntial for fra￿ in the follo%¥in8 areas.. law5 rel*ed io Ik LY)n5tnKiion 81KI provisioth of social iMMJsing. recognising the natur¢ orth¢ cornpany's aGlivitics and the r¢gulated n*vr¢ofthe chariry's activities. We revi¢￿ed finatKial Slatetn¢nl$ di8clogures aJMI testtd kn supp)rtinE (k￿￿mentatIOn to a5SC5s compliance w'ith r¢l¢vant l&t%s and regiLl8tions {Eisc￿se￿ akni'e. Wt enquired of ihc ljoard aknul p)ienlial lill￿10Th a￿j claim We tKTformed anam1￿[ prwedwes io idefflify any urtll%ual or UTLcxrttted Telationship5 that might indic&e risks of tnat¢ri￿ misstaiemert due 10 fra￿1. In addressing the risk offEaud d￿ to management override of intcrrol controls t¢si¢d the app￿prIat¢nc￿ or journal eniries a￿1 assessed %vhaher Ihe judgements in ynaking ¥wunting estimates %%ere indicative of a poieniial bia5. Due io the inherent limitation5 of an al￿1t. Ih¢re 15 imiai'oidablc Ti5k thal wt tnay not have detected some ma￿la1 misstater￿n[S in tk financial siatetnetlts. even thtrugh we ha￿e pn)￿rI> pl&￿ell and perloTTned ow audit in cordanr¢ with wdiling standards. For example. as with an) a￿jtL there ren]ained a higheT risk of non-d¢t¢clion of iFregularitiC5. &8 these ma), inTh'oli'e Collusio￿ forgeri. in(enTional omissiortl misrepresentsiion5, or Ihe nTreriide OF irternal COlliro15. We gre not re5whfLsible for PTes'cnting fra￿ or Th)n-¢ompliar￿ with laThs atKi r¢gDlaiions and t￿¢ k exp#iul tts deieet all frwd 8sKi ts)tKompliartce %¥iih laws a￿1 regulatiOTh5. Use of the audit report This report 15 made 501¢ly to th¢ rlwity'5 TrK¥tkn as a bod), in a¢x0Th1a￿e with CtLapi¢T 3 of Part 16 of Ihe Conipanies Act 2006 and Chapier 4 of Part 2 ofihe Housiijx arml Regaieralion Aci 2008. I￿[ audil Mork has been underiaken so that mighl slate io Ihe charii) s rnembers ilx)se Jnatlers are rcquired lo siatr to them in an aiulitor's rcrK>rt and for no o(h¢r purp)$¢. To the fullest exteni b). la1￿, I4t do not xccpt or assume responsibilit), lo an)'one oihcr than lh¢ ¢hwily and ihe chariiy's membtxs a Fx¥Jy for ow a￿11 Iboik, for iliis EWrt, or foT Ihc OPiniOlL% ￿ have fornied. Lte CartWTiihi ISeDiorStst•tory Allditor) For and on beh8ifof BeeTrer and SirUi￿r5, Siaithory Auditor 20 Colmore Circus Q￿¢￿S￿aY BinThiiEham 84 6AT Date.. 8 November 2023 WOODLANDS QUAKER HOME STATEMENT OFCOMPREHENSIVE INCOME For the yeir thded 31 M*rch 2023 Notss 2023 2022 TURNOVER 1,901,999 1.847.603 0￿rating costs {1.966,3181 {1,842,525) OPERATANC IDEFICtrySURPLUS (64Jl9) 5.078 Fitwice income Inie¢st payable and financingc0￿5 Ch￿g#S in fair value of inv¢5tments 10,522 (9,226) (33,420) 12,157 {8.6881 43.645 TOTAL cof*IPREHETrISIVE INCOME FOR THE YEAR (96.443) 52,192 Approytd by the Trnstte Dir¢¢to￿ 6 Nwember 2023 And signed on thtir b¢half by'.- er oll￿d- TTUStee or Richard Taylor - Trusitt Di or IVOODLATral)S QUAKER HOME STATEMENT OF FINANCIAL POSITION As #t 31 Mirch 2023 Notes 2023 2022 FIXED AssErs Housing properties- cost less dyeciauon Other propertyj plant and equiprnenl Inve51tn¢nt propErty Invesimenis 1.201,862 71.518 179,500 297,948 .231.085 78,942 175,000 338.977 10 Ilb 1.7SO.828 1.824,004 CURRENf ASSETS Ini'Entories Debiors Cash gmd c&th equiva]ent5 10.833 102,491 78,624 9,694 92.118 136.902 12 13 191,948 238.714 CREDITORS: AMouTrrfs FALLING DIIE WITHIN ONE I'E.4R 14 {111,906} (118.527) Ntr CURRENf ASS 80,042 120,187 TOTAL ASSETS LFSS CURREt4T LIABILITIES 1.830,870 ,944.191 CREDITORS: AMOUNTS FALLING DUE AFfER MORETHAN ONE YEAR 15 (425,993} (442,8711 IA04,877 1.501.320 RFSERVES Re51ricted rescrwc5 Ril'enue reservc8 70S,921 698,956 728,819 772.501 1,404,877 ,501.320 Approved by the Trn5ttt Dirtttots 0# 6 f4ovember 2023 alld signed their behalf by=_ P4.,H CJdth-I tusiee Dir¢cttsT Rich'ear 78.624 136,W2 A} RECONCILIATION OF OPERATIF*G IDEFICfDtsURPLIIS TO NET CASH INFLOIV FRof+l OPERATIPIG ACTIN'ITIES 2023 2022 Operating Idtficitysurplus fof ihe year MoveTn¢nl iii debtor5 oi'¢Jnenl in ￿editors tkpreLiaiion Movemenl in rnpilal gran15 loveTnenl in inieiiiories 164,319 110.2921 6,621 56.666 110,97$1 (l.l391 3,078 16371 303 57,831 110,975) Nei cash inlloii" from 0￿rating aclii'ilie5 (23,438 51,590 16 WOODiANDS QUAKER HOME NOTES TO THE FJNANCIAL STATEMETrITS For ¢h¢ ye*r ended 31 M*rth 2023 ACCOUNTING POLICIES Basis of gttouiiting The financia] $tat¢menls are prepared un(kr the hist￿1(al c051 convtnuon. as m(xJified to ijichmk certain ilcms ai fair b'alue. in accordance ib'iih Financi￿ Reporting Stsndard 102 (FRS 102} issued b>. thc Finaiicial Rewrting Council comply i*iih Ihe Aceounling Dirtciion for Piivate Registered Pro¥id¢rs of Social Housing 2022. Sialement of Rery)rnTneJMkd Pr*ii¢¢ for Registered knial Housing Providers 2018 {SORP) and ihe Housing and RegentTaiion Ad 2008. W'ood1*￿S Quaker Honie is a public l*nefit entity {PBE), a% d¢fiiKd in FRS 102 and applies relevant paragrap]ts piefixed"PBE" in FRS 102. Tmroover Turnover represent5 rental and seYYi¢¢ charge income of losses from voids) arKi is recognised on receivable basis. Finance incomc is ardited io Ihe R¢sid¢nts fund, ithile ajl changes in faiT vaJu¢s of investments a ¢r¢diled to ihe Pemjanerti EtKtowment Operating costs The apportionment of employ¢c costs aThl prof¢55ional chaTges is based uw>n ￿ e5umatr oFiim¢ spcnt. Oiher overheads ar¢ apw>rtioned iii the saElle ratio a5 marngcwnert salaries. Items pllr¢ha5ed cortsideted as an asset ￿￿ler ihe 171ue of£21M) haie rtot been ¢84)iialised. Repalts *Dd mAiDttnivr¢ The cost of Toiitine ￿paIrS and ntainlenattc is dkawl to Thc of CoTnpr¢h¢TLqive Income as incurred. Major ivorks are ¢apitsli5ed ID Lileni lh￿ they improi'e the ttominic btncfii of the a55et ihroiigh on ift¢T¢a5e in rcrttal in¢oni& a redU￿]DA in mainttnaiiceeosts or thmugh at] exieJ)sion of Ihe life oftlK pro￿rty. Housing property Hou51ng pro￿rtY consists of direa building co515 interesi ¢apiiati5ed up to p￿￿l￿1 ￿Mple110n. buildings were ereffled on land 0￿1)ed b). the I1'2ntick"5hire Monthl) Meding. SociAI HousiDg GTA*ts Grants ie131it18 10 assets ar¢ re￿gniSed as intojne on a systematic basis o¥er th¢ eX￿kd useful life of the ass¢t. Grants TECCiI'¢d for Ixbusing properli¢s ar¢ ]rcogni5ed a5 0￿[ ts expecl¢d useful life of the housiJ18 prOpCr￿, SlTUClure. Gtants wcceiY¢d from non*0￿er[u￿n1 sources ate r¢cogoi%¢J as using the F¢Tromi**¢ino￿7. Dtpreci*fh)# and irnp*irmt#i Deprecial￿n of housing ptotknies i5 charged so *$ 10 iiTitc t1￿ CO￿ oiheT than land to ils ¢slimaied residual %'alu¢ on g siraight line basis over Ihc ¢X[￿ed useful econotnic life of50 )¢8rs. MAjor coinwnent5 in Tk I￿¥(k￿)Ck nats are tteaied a% ￿parable ass¢¢s ajid depTeciated O￿Tr th¢ir c51iniatcd u5Yful ccononiir livcs as foljoivs: Kitchens Tlaihrooiiis Lifts ENiemal lighting indoi*5 Exiental t￿0 140ilers & teoirdl healing 20)Ears 3D)Tdrs 25 )ears 3D).¢￿$ 30 )'ears 30 )'eBTS 20 J'eaTS 17 IVOODLANDS QUAKER HOME TrqOTES TOTHE FINANCIAL STATEMENTS For the year endtd 31 Ma￿h 2023 ACCOUNTING POLICIES (CONTI.YUED} Depre¢iatN)n and irnpairrneal IC•NliAutdl Deprecia(IDn of oikr proFYrty. plani & ¢quipttn¢nt IPP&EI is ¢harg¢d by annu&l instalments commetscing iviih the year of aequisiiioTh ai rgt¢s esriiji￿ed IQ iiTile off the￿ COSL less any ￿lUe. over th¢ useful lii'es 4thi¢h are 8$ follo￿￿.. Furniture and equipment Furnitllte 8nd equiptnenl The P8dthk- 15%on Teducing balance Home- 13TrAon reducing balan¢¢ InwalrffwiiofSocialHousiuR Propafv Prop¢rttes kld for I￿1r s(￿1*] benefit are not held ￿[elY for the cash infloi%s Ihey genuate and gre held for Iheir ser￿lCe polenli￿. An &%nssmenl is rnade ar each repkrting daÈe as ID ivhethei an indicaioT of impaimJ¢ni ¢xists. If 5wh aTh indicator exist4 impairtnent asse55n￿[LI is caTricd oul and an ¢siim*¢ of r¢¢ov¢rable ajntsunt of the assei is mad¢. Wh¢R (he ¢*￿Ing amount ol asset ¢xcee4Js its r¢¢oi'er2ble amun4 all itnPAiNDeni ios$ is rt￿gniS¢￿ in surplus or defjcii in (he Siai¢ineni of Comprehensiie Incojne. The reCO￿TrablE a[[H*￿￿t oran a55Ct Is Ik high¢r of i15 value in ¢ gnd fair valu¢ 1¢s5 Costs 10 5¢11. WhEre a55els held for their serviL% JM)ieThiial. Tralue in use is deietnibned by th¢ pres¢nl vglue of the assei's remainin8 seThice Jxiiettiial plus ihe anmkunt ex￿￿ed ID be i￿rI¥¢d froni its di$￿>s27. I￿p￿<1￿¢d repla¢¢meni CO￿ is rak'en as a suitsbk megsur¢m¢nt model. An impairnKnl lo￿ is rei'eTsed iftbe ￿￿0[1$ for the Im￿lm*￿t loss bave ccase4110 appl>. irKluded in 5urplu$ or defi¢ii irt the Siaiemeni of COmpr¢hth￿i￿ Incom¢. IllTrestmeni prop¢rly Prop¢rtKs held lo tarn coJThmercial r¢nt5 or for cdpilal appreciatioll er IM)th a￿ ¢ia5sified as investment prowiies. Inv¢slnicTht prO￿rtieS RTe measured at fair Yalue ann￿all!.. and ati). ¢han8¢ Tecognis¢d in the Sta*meIii OF Comprehensive Ineome. Inirsimenis thai art publi¢lv irnded or ith9¢ f•ir can b¢ n)￿$￿tEd reliablv aTe measurtd ai fair valw iviih ¢han8es in fair value recognis¢d as asY￿lus￿r defjcit in Ihe 5tateiT*ThI of comptthensiie inoNne. llli'entories Inventories are vallled ai ihe toiieT ofeosi aTrJ ￿ Tealisabk valuc. Cosi ryr¢s¢nts goods 81 PUTcha5e invoice price and consists of cl¢anillg PToduct8 food Stocks wid stst1oi￿ry. T#A#iion Wuodlands has dJarilabl¢ ￿al￿S and is Ih¢T¢fore rrflt subj'cctto corp)rntion tsx on its surplus. C*sh ind tash equii'alellts Cash and ¢a$h CqULN'Slettls cojnprise cash in hand a[￿ demand deposi1% iogdl)¢ri%'iih otsr 5tK)rt l¢rni, hi￿15 liquid investn￿nIS that Radi1> coni'ertibk into knoiiTh *tnouiits ol cash are subj¢cl to aIi IllSlEiiifieani risk of changE in value. Fivn¢ial in$lrument5 Fin8ncial ass¢is and financial liabl1ttK￿ atr itrlLen Ibe w￿dI￿[M￿ l*comes a partj to the conivdtiiial proi'isioiis ofihe inslyum¢nl. Fliifynei<h&sefS ctsrried uiamoiftsedeo inancial asseLS cats*d ￿ wnonised eosi comprise rettt arrears IT* and olher ￿££i1,ablc5 ￿ld casli aiid cash equii'alertis. Finan£i81 assets ar¢ iniiiall). r¢￿EnIsed 3E fair i.aluc Pli￿ dite£tl)" allributable Iransaciioji cost5. Afier iniiial r¢cogniiion, Ihei are tnell5ured Bi #t￿niSed eosi using the errcaii* int¢resi I￿Thod. Diswunling is omiiieii here iliE effeei ofdiscouniing is immaierial. Iri1￿re is objeciive el.idct￿C that Ihcrc is impiinnent losx the ajmuni of the 1055 $5 111¢8sur¢d gs Ihe d1ftC￿lI(c betiieeii the ￿Se1,$ carrying amoiini and Il* ptcsei)i i'aliK of ¢siinwi¢d fu(ure cash noii'5 dis￿linIed ai ilie fjnancial a55EI'5 original cffcclii"t in¢e]tSl raic. Th¢ wo'ing 8mouni of a55ei j5 rediiced 8Ctordirtglk. 18 WOODIANDS QUAKER HOME NOTES TO THE FINANCIAL sfATETrIENTS For the year ended 31 March 2023 AccouwfiNG POLICIES {cof4TINUED) Fi•an¢ial instrumenls Iconiiiutd) A financial assti is derecognised ivheth conlTWCtug] rights th Iht ¢ash fioiys or the financial asset 8nd all subs(onlid ri5k5 and r¢wgJd ajr transfenEd. If 8n arrdng¢nKni cO￿st•t￿leS a fittartclng th¢ financial assd is itta5urcd at the PTEsent vlllue of the furnte payThentsdi%ounlcd ai a nmrktl Tak of ill*resi for asimiiar thbi insth]meni. Izabiliiiescarriedoiomortlsedto These fin￿la] ligbililies inclu& *t¥J otheipAy8bks and interca loans atMI bo￿￿wIng Non-curreiit debi insiruments Is'hich ]nvet Ihe r￿¢5￿ ¢Oitdiltons in FRS 102. a￿ iTriti811}' recoBnis¢d at fair value adju51cd for Rn>' dittcil). alliibuiable iftns*tion cost sub5cqucnily li￿rta al a￿￿lsea cost using Il interest rn¢ihod, isryih int¢r¢si4elaied charges Trrognised ￿ an ¢x￿n* ih firtance ¢05ts iii ￿1£ Staieni¢nl of Cop}pr¢￿￿$lve Income. Di5￿UntIng i5 Offtitt￿ Ille cffcLI oldi5counling 15 imni&lerial. A financial liability is d¢r¢cognised only Ihe Contr￿3] obligation is exlinguislxd. thai i8, when the obliwion is di8¢hatEed, ca￿¢1￿d orexpir5. lronsoc1i￿5 For Tent arrears ivh¢re a￿an￿nic￿l ¢onstiiute& in effect, a fIna￿l￿g Irawcliort bt¢au5c of extended credit arrnngeincxis arrears llte ￿ured pre5tnl i*lii¢ of the fulujr Wd)rynents discouiiied ai an appropriate n1￿k¢t rai¢ of Inte￿￿. P¢￿siD￿ sehwie The Ivoodlands 0￿rateS a srakeh)Ider pension sthrne OD tehalf of its eEnplo>tes. Contribu1￿￿% 8re charged lo Ihe Siaiemenl of Compr¢h¢nsiYe Inconic the!" ate tnade. The Il'o(K112nds also makes Contribut￿Ths to thc rx)nal pensiDn plans of certain staff. Ivhi¢h att djarged ￿ th¢ Stst¢nKni olCotDpr¢5xnsI￿ Income &% ihey ste iiiadE. Re5tritted resen'es whe￿ resetV¢5 aT¢ subject lo an cxtctnal te51riclion the). gJe scp8raiel)' retognised iyithin ￿S¢￿'c$ &s 8 ￿51￿1¢¢¢d rtsctve. Revenue at)d expendiiure Is Lneluded in the Stal¢menl of Coinpt¢huisive Income and a ir8nsfer is TrL4de from the tevenue r¢5¢riE to th¢ ￿st￿e￿o feserye. SIGNIFICANT MANAGEMEKf JUDGEMEfm AND KEY SOURCES OF EsfiMATIOP4 UNCERTAINITY 'rhc prepardiion of the financial 51aitnKnls rcquI￿5 tll3nagement to mske judg￿ne￿I$, estimates and 8s5uniplions th￿ att¢¢i th¢ application Df ￿>]iCIeS 8t￿ Tcponed thiouTrlS Df as5tis and liabilili¢5. inconi¢ aiid ¢xretises. Thc estiinalcs and a￿￿elalcd a5511mplion5 are kned ON histwical e¥￿tience vartOU5 other factors thai arc b¢li¢vtd 10 ￿ reasonabl¢ linder Ihe cii¢umsttntt5. the tysults of ¥¥hid) fomi Ihe basis of making judgeinenls aboui carrying i?lues of asses gnd li¥biliiies (hai ate rtot re￿Ill). appartnl fnim oih¢r SDUtce& Actual re5ulis niay differ from those esiimatts. Ftstimates and und¢rf)ing ￿5￿Mpt￿lIS are rev*%%td on an ongoin8 basi& Revisions 10 accounting eslimaies are reco8nised in the pciiod in iithi¢h lh¢ ¢siinwie is ￿t.1$¢d and in future ￿rI￿S affected. Covipolie￿lSofAO￿sI￿8vr0Pe￿les attdusefu1l1￿es Major componen15 of propulies hale SlEthific￿IlJ. dilTa￿d Pall¢ms of coiisumption of economic b¢ttfila and tslimaies art ￿l￿1C to all(￿al¢ the iniiial CO￿ of ihe wopert} 10 ils maior cornpoTrcnt5 and lo depr¢ciale exh c05nponent scpardielj. ober is useful ￿0j10￿nic lif& The As%)cTra(iDD w￿lderS 1s.hdheT Ih¢ie are aTr}' iJM4ic1£ t10￿ that ihe useful li¥'cs rcquite rei'ision at ￿ch rctM)fiing dal¢ io c1￿￿re iljai Ihe). remain ppropri81e. GoiiiR concer nj¢ Associaiioii's finarjcial Slalenienls h8Ye ￿ert prcpwed ort a going basis il'hirh ￿5￿117¢$ 911 gbiliij To tonlin¥£ opernling IOT IIK for¥5ecable rulu￿. No signif￿ant corteems hait been noted and i¥r ¢onsider it appmpriate 10 toiiiiiiue io Ihe fitw)¢ial siaiernent￿ oti agoing collc¢rn bg$1S. 19 WOODIAD*DS QUAKER HOME NOTES TO THE FINANCIAL STATEMEprrs For the year ended 311¥larth 2023 TURNOVER AND OPERATING COSTS 2023 Operaitng costs Surplu Ideficiil Turnover housing lellings (N￿¢ 381 1.875.145 (1,966Jl 8) 191.173) Artivitie5 other than so¢ial h0•5ing aclivi¢ie5 Donations ol￿r inco]ne and gTtnts 9.524 17.330 9,524 17.330 Totsl 1.901.999 (1.966,318) 164,319) 2022 Opuating Costs Surplusl (deficit) Tiirnover cia] hoiising lettings (No¢¢ 3a) 1.752.498 11,842,525} 190,0271 Attlwities other thAn sotiAI housing aclivilies DonaliotL (Iher in¢ome and grgths 5.138 89.907 5,138 89.907 Total .847.603 11.842.5?5) 5,078 20 II'OODLAN'DS QUAKER HOIIE ,NOTES 1D THE F]NAICtALSTATehiENrs Forthty¢Ar¢ndedJl 21)23 3#. PARTICUL4R5OFt%COhIEANDkXPEh￿f[UREFR0.ITS0cIALlI01lSrI￿ LFmliGS Skdternl oknsln8 ror•lder Sheiieyed C*r 1023 ftholthi peDple 2022 R4nt3nd5tni¢¢¢h¥gesirt￿vthl¢ nornisationof gosEn￿]en1 168.741 1.69W2 3.99Q I.IM.170 172 J50 6.935 3,9 173,7J3 107%14S 4Q.fjDI IXIL646 1.542M8 74￿] 19{232 27M07 67A64 1.427.066 234.470 t5￿51 Manawi)tyt Mainiertanr¢rApu￿l1ur¢ Cok1d-191Tr&)J).wNq1¢05ts) Rail lOssesf￿ll W debis Dwe¢wiM athl1055 Dn diy5alof&ous)nE wrhes 95.271 2l.991 6J.867 I￿15 23,726 3.888 JI.650 4.046 MJ47 57,973 Tolal ¢xpen411•rt0rt So¢L*lHousin¥JEthny 167.719 1.79449 I.966JA8 175.995 1.666.530 I.￿2.525 OpcTrtlnf &d4] HoN*￿tIe￿i￿ (99.1771 3.340 Rent IM￿?41￿5 24 .9DO 79.345 82 J09 WOODLANDS QUAKER HOME NOTES TO THE FINANCIAL sfATEfvIENTS For th¢ y¢*r ¢lld¢d 31 F+1arth 2023 UNITS IN MANAGEfvIENT 20Z3 Number 2022 N1￿Mber Sheltered knusin8 for older pwple Car¢ homes 25 44 69 FINANCE INCOTrIE 2023 2022 Divid¢rhds on in*estrntrfS Iiiteresi on bank dew)sits 10.513 12.157 10,522 12.157 INTEREST PAYABLE AND FINANCING COSTS 2023 2022 Ho￿$1￿¥ loo Repa)'able li￿01]), or partl). in more than fi¥¢years 9,226 8.688 22 OODtANDS QUAKER HOME NOTES TO THE FINANCL4L $rATE￿IE1 For the yt#r ended 31 hlarch 21123 STAFF COSTS 2023 2022 Wa8¢s and salarÈes Ernployers nationa] ihsurat Pcnsion conlribuiions 1258,596 75.730 32,175 1.207.291 75.740 32,305 lJ66,501 ,315,336 r4umb¢r Numkr A￿r￿Se niimber ofemplffjEes Management and Adminis¢ra¢ion 5tafY Care & Spinney3thff Support staty Paddock 51aff li 37 16 12 39 15 65 69 The Try51ee Directors did WK>t ￿re1￿C any runuttrdiicTrn. There are no siafr ivlKb earn nM)re than £60k w ￿NuM. therefore ihe b8￿Ing dis¢10511rc5 set out in the 2022 Accouniing Dirfftion for such atiplo)'teS, are wt reqiiired. OPERATJNC IDEFICITYSURPLUS 2023 2022 The opeYaiiAg (defttiiy&irplw issiaiedrfier ch&rEiptyl(crediiinty.' Depreciation - l¢a5¢d a&8eis 0%¥1￿d assets L05s on di5W5al of fixed &%sets Auditor s remunerat(oiJ Amonisaiion of goi'eTnmeN graNs 24,97S 31,690 24.836 32.995 7.3110 110,9751 7.050 110,975) 23 WOODLANDS QUAKER HOME NOTES TO THE FIPIANCIAL STATEMENTS For tht y¢#r ¢ttd¢d 31 Ma￿￿ 21123 HOUSING PROPERTIES- LEASEHOLD Under Conslrnttio Completed Shehertd Care home Care for older how¢ p¢oplt TotAI COST Al l April 2022 Addiiioj DisrM)5a15 in the y¢ar 1.860 1.202,369 732,135 1,936,364 13.186 5.250 18.436 (1.9231 (1.9231 Al 31 March 2023 1.860 1.21SJ55 735,462 ,952,877 DEPRECIATION Ai l April 2022 Ch8Jg¢ for >'¢ar Elitniwtat¢d OT] disp)5a] 400,718 304.561 24,975 21.507 17461 705.279 46,482 17461 Ai 31 March 2023 425,693 325J22 751,015 NEf BOOK VALUE Al 31 March 2023 789,862 410.140 1.201,862 At 31 March 2022 801,651 427.574 1.231,085 TO¢￿ expendituie on i10￿S io existitlE P[0￿[lIes amoiinicd io £113.707 {2022 £90.308). Of this expenditure £18.436 (2022 £4,450) i¥ascapitalised iii I1￿ )'t4r. The kniising proFKrtie5 are IKld on a 2) i'car lew from C¢niTal FAglartd Ql￿kerS &ssUra￿CC has been given Ihk)i ihe l¥dse %¥ill be exiejuled tw'ond Ihis ierm. 24 WOODLANDS QUAKER HOME NOTES TO THE FINANCIAL STATEMENTS For tbe year ellded 31 ￿larch 2023 10. OTHER PROPERTY, PL4NT AND EQUIPMENr tquEpm¢nt Shtlttrnl Ca home Totxl COST Ai l April 2022 Addiiions Di5wsais 89.659 375.224 2,8 1754) 464.883 2,S90 {754) Al 31 Mardh 2023 89ffj59 J77,360 467,019 DEPRECIATION At I ApTiI 2022 charge foT year Elirnirwled on diswsal 73,836 2.218 312,105 7,965 (623) 385,941 10,183 (623} Ai 31 March 2023 76,054 319A47 395,501 ET BOOK VALUE Ai 31 Marth 2023 13,605 57,913 71,518 Ai 31 March 2022 15.823 63,119 78,942 Ila. IIYVESTMENT PROPERTY Total VALUATIO At 31 March 2023 179.500 Al Jl March 2022 175.000 -rhe inl'esiment prortrty. Iithich is I￿a￿kn1d. I'all￿d io fair ai 3 1 Mar¢li 20?3, ba5d on a N,all￿tIOn undemakth Nick" I'art Eslale Ageiiis, at) itmlewdenl ialyer i¥iih recent ixpcrieiKe in Ilie loc&lioJi and clas5 of inyesimeni wowrtv bein8 val￿d. 25 WOODLANDS QUAKER Ho￿lE NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 Marrh 21123 I Ib. INVFSTMENTS 2023 2022 Listed inv¢stmeNts Fair value al l April 2022 cha￿Be in fair value Additions in ycar DiskN>sa]s in year Movetnent in cash 238,063 (37,920) 18,679 (10,470) (1.4691 214.502 13.645 22,789 {9,9951 {2.8781 Fair value at 31 March 2023 206,883 238,063 UnTisted illvestrnents Market valiie at l April 2022 Dis￿S￿￿reVa1wtl0￿8 rair l.a1￿ at 31 March 2023 Long ierni c&sh de￿sIts 91.065 100.914 Total 297.948 338,977 Ilc. INVENTORIES Food, cleaiing pr0dl￿ts a￿] stsiioner), 2023 2022 10033 9,694 12. DEBTORS 2023 2022 Fees in £lrreats (The Home) Oiher debtors Pr¢pa!'niellls and 83.271 302 18,918 77,385 569 14,164 102.491 92,118 13. CASH AND CASH EQUI￿.ALEhTs 2023 2022 Ilusiness premiiim actoi lelfare fuiid ￿COuntS Paddock Teiian15 AS￿>¢1￿10￿ C￿h in hand 57.774 IA.9A6 18.977 609 1.603 1,253 78.624 I36,￿2 26 VOODLANDS QUAKER HOME NOTES TO THE FINANCtAL STATEMENTS For tht year ended 31 MAreh 2023 14. CREDITORS.. AMOUNTS FALLING DUE IVITHIN ONE I'EAR 202J 2022 Housing loans Inoit 15) Fcc5 ITr advanc¢ (The Home) Other L￿atIon and xKial St￿￿11Y Other cr¢diiors gThl ac¢rua15 Quakei HoLL8ing T￿￿1 loan {Mte 1S} Triodos loan ItyTrl¢ 15) Governmetti grants {Th)ie 161 1.169 6,611 19,721 68,351 2J33 2,745 10.975 1.016 12,096 19,730 69,054 2.333 3.323 10.975 118,527 15. CREDITORS: AMOUNTS FALLI%G Dl."b: APTER I%IORE THAN OliE YEAR 2023 2022 Housing loan5 QLMk¢r Housjng'rr￿t loan Triod05 loan Government grant5 {noie 16) 39,799 7.000 57.295 321,899 40,968 9.333 59.696 332,874 425.99J 442,871 The FIoLising loan is 5ccur¢d on The Paddock Fliis ojjd is ret￿yab]e oi'cr sixl). years from l January 1980, Ihe rai¢ of intere51 chargcd bcing 14.5% The Quaker Housing Tru51 loan is inieresi free, a￿1 repayablc in equal annu81 inS￿li￿¢1￿5 over 15 ycars and is interest free. Thc TrI￿OS loan is rcpa>'3bl¢over 25 >ear$. the rdtc of inlelesi is variable. ¢urrenil> 6.75/ 202J 2022 TIK 1ft7n5 arerepnyttble Irt￿n1111e4ts dtse ttffollows." Within one)'ear or le5S 6,247 6,672 MoTr than ont i'edr bui noi more than IiiD)'cars More Ihan Ii%"o vear5 bui I￿1 rnorc ihart fji'e l'ears More ihan fjye )edrs 6,613 20,127 76,594 6.943 22.745 80.309 109581 116,669 27 WOODL4f4DS QUAKER HOME NOTES TO THE FINANCIAL sfATEMENTS For the year ended 31 Marrh 2023 10, DEFERRED INCOME- GOVE￿NMENT GRATr*ryS 2023 2022 Ai l April 2022 Grants rec¢ivable Amortisation to ststemeni of eom]xeheJLsive income 343J49 354,824 (10,9751 110.9751 Al 31 March 2023 (note 15) 332,874 343.849 Amortisatiot) < l ycar 10,975 10,975 Arnortisation > l year 321W9 332,874 Thc C￿n￿alIVe arnount of SHG received by the Woothartds Wds £535.431 (2022 .. £535,431). 17 FINA TraCtAL INSTRLIIqENTS The carryirtg ￿al￿ts of the A&wcialion's fiTrancial and liabilitie5 are sa out in t1￿ folloMgng not¢5 lo th¢ finatKial 51aiem¢nts-. Financial a55¢ts 2023 2022 Measured ai faiT V21iic through Stsietncm of Comprehensiir ItKotne Fixed ini'e51menls Iscc rK)te I l) 297.948 338,777 MeasLIT¢d & UTKli5munted wmount receivable Rent ayrears a￿1 other debior5 (see Th>t¢ 121 83 J73 77,954 Cash and rd5h eq￿ValentS (see N)ie 131 7&624 136.902 Fill*lltial Ilibllitlos Mtssured at amortised co LA)ans pa)'able ISLT note 15) 109,581 I 16,669 MeasuTed al iirKii5wI]nl¢d onx)unt ￿Yab]e Trade at)d oiher crediiots (seeJM)ie 14) 68,352 69.054 18 FINANCIAL COMfvIITI¥IENTS At J l March 2023 Ihe w￿dIa￿l% c4)iial commiiiiients as folloi%'5-. 2023 2022 Coiilrat15 gpproi'ed bul rM)i etsi11￿itd Coniracied but ru)i ￿0￿ided 28 WOODL4NDS QUAKER HOIIE NOTES TO THE FINA￿CIAL STATEMENTS For the ytxr ¢ndtd 31 Mareh 2023 18 FJNANCL4L COMMITMENTS (Con(iDuedl 'rotal fulure tninimum lease ￿y￿en15 JK1Trca￿C¢Il3bIC 0￿rati￿ leases are as follows:. 2023 2022 Paymei)Is due:. Wiihin one year Beiiveen i%i"o five years After fjve y¢aTS 5,034 13.968 2.381 3.130 19,IK12 19 RELATED PARTY TRANSACTIONS The premi5C5 {'[￿ Homel from iblJer¢ the IIToodlands opetaits is kased froTll the CeiitTal England Qtmkers ICEQS) for ihe fL¥ed Icrni of25 Jeays ai a peppercorn reni. The CEQS aTe a rclalcd party b). hal'ing th¢ pois'ers to Dominate atKi app)iM Trustccs to Ihe Boa￿. as sd out in the Tr￿t'S (k>verning tA)cume#t. 29