Charity Registration No. 1142742 Company RegSstrntion No. 07621714 (England and Wales) É Langdon Empowering independence THE LANGDON FOUNDATION (A Company Limited by Guarantee) TRUSTEES, ANNUAL REPORT and CONSOLIDATED ACCOUNTS For the Year ended 31 December 2022 2022 Highlights Income £8.8 million - included a second successful "crowdfunder" event We continued to support the people in our care through the pandemic and continued to adapt and innovate our ways of working 117 people have a home in Langdon accommodatlon or are part of our supported living programme lup from 114 In 20211 Over 40.000 boo1<5 are listed on our Amazon trading platform managed by our members at New Chapters - our social enrprISe which provides opportunities for our members and others to develop work-based skills New Chapters Book sale5 c I l(KI,000 per year The Pears House care team were nomina¢ed and won the Third Sector Frontllne Team of the Year Award We were avArded Agenda Consulunls Ernpkjyee Engagement Award for the highes¢ level of s¢aff en ement
THE LANGDON FOUNDATION (A COMPANY LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr N Henry {Chairman} Mr B Miller Ivice-chairmanl Mr M Blane Mrs S Cooper Mr N Doflman Ms S Frais Mr P joseph Mrs K Phillips MBE f4r S Salomon Iresigned 29 lune 20231 Mrs S Shieff Mr R Tenzer ITreasurerl Chief Executive Neil Taylor Company Secretary Barry Shine Charity number: 1142742 (England and Wales) Company number 07621714 IEngand and Wales} Printipal address Unit 506. Centennial Parl Centennial Avenue, Elstree, Borehamwood WD63FG Registered Office Unit 506. Cennn1a1 Parl Centennial Avenue. Elstree, Borehamwood WD6 3FG Auditor Crowe U.K. LLP 55 Ludgate Hill London EC4M 7JW Banlcers Lloyds 7 Floor 40 Spring Gardens Manchester M2 IEN
THE LANGDON FOUNDATION (A COMPANY LIMITED BY GUARANTEE) CoNTEs Page Trustees, Annual Report Independent auditor'5 report Statement of financial attivitie5 16 Balan sheet Sutement of cash flows 18 Notes to the account5 19-34
THE LANGDON FOUNDATION (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2022 Charity information The Trustees present their annLfdl report and the financial statements for the period ended 31 December 2022. The accounts have been prepared in accordance with the accounting policie5 sec oui in Trote I to the accounts and comply with The Langdon Foundation's Memorandum and Articles of Association, the Charities Act 201 I, the Companies Aci 2006 and the Charitie5 SORP IFRSI 021. Referenee and administrative details The Langdon Foundation is a registered eharity (No. 11427421 and a company limitsd by guarantee and not having share C3Pital (No. 076217141. The registered olfice 15 3s shown on the legal and adminiscraiive information page. The Trustees ¢)n the date ol this report, all of whom served throughouc che fifiancial period unless otherwise indlcaced are as follows-_ Mr N Henry Mr B Miller Mr R Ten2er Mr M Blane Mrs S Cooper Mr N Doflman Ms S Frais Mr P joseph Mrs K Phillips M8E Mrs S Shieff Chair Vice-chair Treasurer The current Trustees have che power to remove and appoint cruscees. There are a maximum number of14 trustees and not less than 8 who rniy be appointed to the Board. The previous terrns of office of Mr Henry. Mr Miller and Mr Blane expired in july 2022. A call for nominations was held and with no other nominations being received they have all been re-elected for a further 3 year term commencing july 2022. Mr Henry has also been re-elected as Chairman for a further period following his re-eleccion. The Chlef Executive controls Che day to day management of the charity together with the senior managers and employees. The Chlef Executive works closely with the Senior Leadership Team as listed below. The Senior Leadership Team of the Charity is= Mr N Taylor Chief Executive Mrs l Baker College Princip31 Mrs H Sowa Director ol Operations Mrs S Pollin5 Director ol Fundraising and Marketing Mr5 E Russell Head of HR Mr B shine Finance Directorlcompany Secretary Ms P Toubkin Head of Manchesier
THE LANGDON FOUNDATION (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2022 Structures governance and management The Langdon Foundation was incorporated and e5t3blished by Memorandum and Articles of Associauon on 4 fvjay 2011 as amended on 6 july 2015. The Langdon Group comprises the Langdon Foundation (charity number 1142742. company number 076217141, Langdon College (charity number 1088936, cotnpany number 41044661, Langdon Community (charity number l (186393, company number 4055338) aJ)d Langdon Housing (charity number 1142743. company number 76232461. The Langdon Foundation charitable company is the sole member ol Langdon College, Langdon Community and Langdon Housing and has the power to appoint or remove Tru5tee5 from the subsidiary charities. All three subsidiaries are registered charities. In 201 l The Langdon Foundation set up a company limited by guarantee, named the Langdon Trustee Company Limited {company number 083421691. which exists to protect residents, financial interests upon lunds being bequeathed to chem. On the 3 july 2023, following a thorough process involving both organisations, the Board of Langdon Foundation resolved Iha£ the LangdoTr Group Innd to enter into a merger with the Kisharon group ol charities later in July. The FOUndiOn owns properries, ralses funds and gives donations to Langdon College. Langdon CommuTbity and Langdon Housing. The Board of Trustees is resFK)nsible for the overall governance of The Langdon Foundation as a charity. Trustees are co-opted by the existing B03rd of Trustses. Individual Trustees serve for a period ol three year5 and may serve for up to nine collsecutive years. There are no individual subscriptions or other sums payable by Members. All Trustees ol the Charity and the subsidiary ch3ritie5 are expectsd to adhere to L2ngdon's Code of Conduct which ernbrace5 che Nolan Committee's "Seven Principles of Public Life" The management of the charity and regulatory compliants Is delegated to the Chief Executive and an effective partnership exists with che Chairperson of the Board. The Chiel Executlve reports to trustee5 at Board Meecings. The Langdon Foundation introduced a more organised induction programme which Includes a dedica¢ed portal containing information about the history of Langdon, guides on Trustee responsibiliti, current strategy, governance document5 and Board report& The Board a5 a group receive presentations on compliance and latest PracCe ac least annually. The external adwsors ol The Langdon Foundation are as set out on the le1 and administrative page. The trustees review management remuneration annually. The Langdon Foundation ensures its salaries remain competitive in the labour markeL through conducting 2n annual pay review. paying individuals in line with normal industry prnctice and standards, and benchrnarking salaries against other employers. Langdon determines che pay range for 3 vacancy prior to advertising IL following the creation andlor amendment of a job description and specification. On appointment, the starting salary is determined within that range to be offered to the successful candidat< based on relevant qualifications experience and any recruitment and retention needs. Senior Leadership salaries are based on the same economic frdctors specified above, such as. qualifications. experience and other f3ctors like supply and demand, but a 5POt salary is used on appointment and theafter the cost of ling iThcmse is applied as appropriate. Langdon Foundation rdi5e5 funds for the subsidiary charities. Funds are raised and made available by the Langdon Foundation to the subsidiary charities for areas that are not funded from statutory sources such as Employment, the activitie5 programme. Brady clubs and certain College activitie5. Funds are also raised for the purchase and maintenance of properties co be used by Langdon tenants in supported living and Langdon students at Langdon College. There are leases between Langdon Housing and individual ¢enants in supported living. The Langdon Founditioll benefits from voluntary help. During the year we had many volunteers who assisted with events and administrative tasks. These volunteers gave significant amounts ol time to Langdon and we are so very grateful 10 all our volunceers for their loyal support, help and enthusiasm.
THE LANGDON FOUNDATION (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2022 Corporate governance Processes are in place to ensvre that performance is monitored, and that appropriate management information is prepared and reviewed regularly by both the Chairperson and the 8oard. The Trustses undertook a Governance review during 2019 and as a resulL additional subcommictees were creaced (Clinical Governance, Community Services and Nominacions and Remuneraiion Commitceesl, The terms and condiLions of all ocher Cornmites were reviewed and updated. In March 2021 Board Elections stood place., a number of Trustees resigned at that time and 4 new Trustees as listed above joined the Board. As rnentioned earlier in this repor¢ three Trustees. terms of office expired in july 2022 and following a nominations process were re-elected for a further term. Systems of intsrnal control are designed to promde reasonable assurance against material misstatement or loss. They include: * an annual budget approved by the Trustees., * regular consideration by the Trustses and the Finance, Audit and Risk Commite of general budget performance. delegation of day-to-day management and regulatory compliance authority,- and identifirdtion and management of risks. Fundraising Members of Langdon's fundraising department organlse fundraislng events and co-ordinate the actlvitles of our supporters in the wider community on behalf of the Langdon charities. Langdon does not use professional fundraiser5 or involve commercial participators. There have been no complaints about fundraising actiwty this year. We are registered with the Fundraising Regulator. The fundraising department has signed up to the Fundraising Regulator's Code of Fundraising Practice. Our fundraising staff have been appraised as to how the Code affects Langdon. A5 a result, our fundraising guidance and working practices are cornpliant. Volunteer fundraiser5 are given a briefing before they raise fund5 for Langdon and are a150 wven regular Update retninders. All direct marketing is undertaken by the fundraising deparrmenc co ensure that it is not unreasonably intruswe or persistent. Contact is made through direct marketing - including activity updates - a maximum of six times a year and m05t recipients will receive communications less frequently. All marketing material contains clear instructions as to how a person can be removed from mailing list5. In 2018 we also conta£Trd all those then on our database a5 Part of our compliance activity for the GDPR (General Data Protection Regulation) which came into force in May 2018. We continue to offer donors and others the opportunity to be removed from our database. Strategic Report Objectives, activities. achievements and performance The objects of the Charity are the advancernent ol education and the relief of individuals with special educational needs or mental illnes5 and other associated difficultie5 including through the provision o15UPPOrt to their farnilie5 and (save lor purposes incidental and ancillary to those objectives} no other purposes. The Charity is established in accordance with the tenets ol the jewish religon. Langdon is a leading charity that empowers some 120 Jewish adults with learning disabilities 2nd autistlc Spectrum disorders wich the skills and opportunities co live independently in their communities. wi¢hin a Jewish ethos. Langdon operaces in che Manchester area, North-west London and nearby areas and deals with more than I S Local Authorities. Our vision is to ensure that people with learning di5abiliLies have che same opporcunicie5 as everyone dse, so chey can live independently in their local community. Our aim is thac people wich learning disabilities live in an inclusive wodd where they are valved equally. Our aspiration is to create a community in which jewish young people and adults with learning disabilities or wtrth autistic 5pecirum disorders thrive and have equal opportunities to live che lives they choose.
THE LANGDON FOUNDATION (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2022 We have been guided by the following strategic aims over the past ye. Diversify the range of life opportunities for member5 and their familles We would have contributed to improving the quality of life ol our metnbers and their families, by enhancing the range of employrnent. educational, recreational and social opportunities and offering meaningful support and advice that enables families to live independent live5. 2. Develop and equip our worlrforce to be able to respond to the increasing leve15 of complex need5 and expectations of quality of service In three years we would have significantly improved the level of staff engagetnent and we will have a workforce that has the capability, capacity and commitment to respond to che individual needs of our members. 3. Build organisational capacity to provide long-term sustainable housingllife options. In three year5 we would have significantly inere2sed the number of members who are living in a fit for purpose'home for life. in their communlty. 4. Improve our engagement with the community and build the trust of our stalceholders so as to maximise levels of Support for the organi$ation In three years we would have significantly improved the level of support for the organisation by measurably increasing the level of donations from the community and the number of volunteers involved in the delivery of services and the governance of the organisation. 5. Identify mutually beneficial partnerships andlor collaboration5 that deliver costs Èffectivè services and value for money In three years we would have developed with other Jewish learning disability organisations a joint vision and strategy to meet the identified future needs of the community in order to avoid overlap. creats efficiencies, cost savings and provide clarity to lunders. In 2022 our innual objectives aligned with the four key themes of our new 3 year strategyb OPtimi$ing opportunities. making a difference to members and famllies: team learning and development and reachin8 out and partnerships and the* are set out below wich details as to what was achieved: Ob'ective Recognising our core business and capability, we will respond co the predIcd growth in people with mild to moderace learning disabilities and autisrn in the jewish communiry. Outcomes Develop an annually updated growth plan. Undertake a review of IT and digital technoloy to ensure future proofing through investment in innovation, technolo, systems and workflow to support leaner processes and new models of care. Optimising Opportunity We will ensure our members live in quality accommodauon. Expand housing strategy growth and locus from new developments - both lor new members and moving from rentals. Evaluats development opportunities that arise through our work and work with partners. Expand housing strategy to clarify Scale of growth and areas of focus for new developments (both for new member5 and for moving away from rentals). Ewdluate development opportunities that arise throu h our work & with artners.
THE LANGDON FOUNDATION (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2022 Ob ective Where no alternate qualicy provision is available, we will explore the extent to which we can and begin to more actively respond to the plurality of jewish faith and Ihe changng demographics in the UK jewish community. Outcomes Enhance the Jewish character ol Langdon service provision and continue ro improve our existing jewish programming reassuring all that they will take part at the level they wish to. Undertake a feasibility study exploring the costs and benefits of separate houses lor orchodox members in Manchester and the feasibility of doing che same in London. Optimising Opporcunicy Objective We will worlc with members and Cheir support network to develop every member supporting them to understand, map, and capture their own development ensuring this supports Langdon tneasure long term impact. Outcomes Develop an individual learning development pla for each member. Develop a model of'Team around the Mernber. to support choice. control and self-decermination. Each member to have i personali5ed decision- making agreement. lrnprove the ability to describe member's journey and succes5 through reach and impact measures. Involving members in decisions about their own care, shaping and influencing. breal<ing down barriers between members and professionals. Mal(ing t difference co members In order to promde better support to our mernbers. we will give more focus to ensuring f2milies are 5UPPOrted by us and each other. We will seek to expand early intervention with young people that supports trnnsition and roves life chances. In order to provide better support to our rnembers. we will give more focus ¢0 ensuring families are supported by us ind each OEher. Review and evaluate models of transition into Langdon Services. Objective We will significantly improve our levels of stifl and volunteer erkgagemenc. skills and capabiliiies in order that they feel valued and equipped to respond to increasingly complex needs mental health. auEism, a etc. Outcomes Develop an overarching culture that celebrates diversity and encompasses diversity and inclusion. Team learning and Development ein Objetcive Worl(ing with Kisharon and Norwood, we will seek to identify beneficial partnerships ¢0 deliver opportunities for our members and betier Services meeiing the inevicable increase in demand for LD service. Outcomes Reaching out and Partnerships A single point of 2ccess where LD enquiries are managed and directed.
THE LANGDON FOUNDATION (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2022 The Langdon Foundation raised £1.372k from donations and fund generating accivities before expense5,. £920k after fundraising expense5. Our fundraising income Comes from a variery ol events, activities and other source5. We replaced many of these again with a second successful 'crowdfunder' that rnised £818k in 2022. other income included income from Trusts1£218kl, our"Velo" (Bike Ride) {£59kl and Goll days (£451cl. Langdon entities work closely cogether and in 2022 key achievements and developments were as follows.. Optimising Opportunities We have completed 8 small to medium property refurbishments, with a tombined gross expenditure of £177K net within the last 12 months including refurbishment of bathrooms in Manchester properties and installation ol hoists. 8 new people moved in to supported living provision and a further existing 15 members moved to more 5UitabSe accommodation to meet their needs. Making a difference to Members and their families Pilot scheme to adopc l-Roc, as a digital eare planning tool wa5 completed. and decision taken to identify alternative digital platforms for care planning such as l-Planit. TransiLioned away from task-oriented delivery based on commissioned support hours to focus on outcomes. Review5 are now held annually evidencing impact and memberlst3keholder engagement Successful bids to Barnet for care and support framework agreements. Significant increase in the level and range of programrning based on members wshes. utilising experts in their field focusing on their health and wellbeing. Inceptio of Wohl Employability Hub. further improved the guides for our members by providing, both in standard and easy read versions, fire safety guides, tips on reducing energy consumption. housing quality and commitment standard5, and frequendy asl<ed questlons IFAQI. implementation of Maintain X has enabled us to track our reictive and prevenrative maintenance, preventive rnaintenance, and control the daily facility operations. With the recruitment of a full-time Maintenance Assistant IMA) for London, we are planning a trainlng programme where members can be employed a5 labourers and carry out low-risk unskilled work. Reconfiguration ol Langdon Brady provision to meet specific Treeds and interests and creation of a a new satellite club in Elstree. Recent successful Barnet framework bid will allow Langdon to develop a support model of transitlon for I 17-year-olds from April 2022. Reaching out and Parmerships Identified opportunities of the Cordis Bright report are being progressed with current discussions with Kisharon. Significant progress made in progressing merger discussions with Kisharon. Impictful partnership working with Referral agencie5 such as Paperweight, ORT and Maccabi. Variety of new events held as par¢ ol our stew3rdship programme of our major donors. A new Members page created on the website which allows members ro book events and provides links to useful resources for the members. Significant increase in social media reach.
THE LANGDON FOUNDATION (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2022 Team Learning and Development The Pears House care ceam were nominated and won the Third Sector's Frontline Team of the Year Award. 8 managers participated in the second phase of our bespoke monthly management development programme ro upsl<ill their leadership and management skills. The two registered managers Successfully completed their QCF level 7 awards. Five service managers commenced their QCF Level 5 awards and 12 commenced their QCF level 3 awards. Bespoke management worlishops haye been delivered over the previous 10 months. In April we conducted an independent scaff survey through Agenda Consuliing and were awarded the Employee Engagement Award for the highest leyel of staff engagement. The Managernent tsarn participated in Jewish Women's Aid Sexual Harassment in the Workplace programme. In 2ddition co participation in the mandatory training meeting compliance levels of 85% a structured training programme was delivered on a quarterly basis to all staff focusing on professional boundarie& posicive interaccions, challenging bohaviours, food and nutrition 3nd dementia awareness. An Employee recognition scheme wa5 launched at the first'Langdon Stars, staff awards even¢ that celebrated the best examples ol staff demonstrating our organisational values. Sicknes5 and staff turnover levels significantly decreased during the year. Training on house compliance for Service Managers and Team Leads now equipped as fire marshals and to undertake compliance checks such as emergeney lighting, legionella testing and fire dri115 regularly. Langdon College The College continued to devdop the curriculum ro ensure students develop their skills to enter the world of work and become as independent as Possible. Our focus remains on our key strateg4c aims: To achieve high quality outcomes for our students by prioritising teaehing 2nd learnin& 2. To continue to improve levels of efficiency and to achieve outs¢anding financial health. 3. To maximise opportunities lor growth. Post Coyid swdents have returned to accessing work experience with a wide range of provlders. The college achieved l 00% passed lor those students who undertook quallfications in Maths, English and Employability. The college received an OFSTED monitoring which found that the college had made reasonable progress and noted the work thit had been undertaken leaders and managers to ensure improvement. Public benefit The Trustees have complied with their duties Set out in section 17 of the Charities Act 201 I to have due regard to the guidance published by the Charity Commission. The benefit to rhe publie is rnanifestly demonstrated by the achievements contained in this report, all of which seeks to extend and improve che care of young people whose lffe chances, aspirations and contribyrions to society will be enhanced. as a result. Support frorn Foundation consists of grants to College, Housing and Comrnunity for specific projects, and the provision Of rented residential accoinmodation for these charicies, which is purchased for cheir on-going requirements. This support also enables the advancemenc of education for the College and g'ves financial assistance towards the support of young people and adults wich special educationil needs. The support thar is given by College, Housing and Community Is tjnrelated to any individual's ability to pay for services as Langdon Foundation enables housing to be available for those individu21s who do not have the financial means to contribute towards their own home and is within the remit ol the Foundation's areas of operation. Members who live in Langdon house5 have che benefit of living in homes chac give a good standard of accommodation, which might not have otherwise been possible.
THE LANGDON FOUNDATION (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2022 Rlsk management Langdon believes that it has appropriate proeedures and controls to adequately mitigate against risks to which 1¢ 15 exposed. SYsm$ include= An annu31 plan and annual budger which are approved by the Trustee5. regular consideration by the senior leadership team and Trustees of financial result> variance from budgets and non-financial performance indicators. in depth review of financial performance by the Finance, Risk and Audit Committee. In depth review of care and support practice by rhe Clinical Governance Committee. continuing development of a performance me3suremen¢ frameworlc to ensure we further improve our understanding of our work and its impact. scaled authority levels and segregation of dutie5. identificaiion and management of risks. Langdon's approach to risk management indudes the identification of risks on both 'top down, and 'bo¢¢om up, bases, and the rating of identified risks according to Ehe likelihood and impac¢ of the risk occurring. We overlay on this a review of the risk5 to delivery of the business plan for the current and subsequent years. Micigaiing controls are identified and, where further action is required, deadlines and responsibilities assigned. Those activitles with higher rlsk raiings are prioritised. In addition to review by Ihe Senior Leadership Team, the risk register ss reviewed regularly by the Finance Audic and Risk Committee on behf of che Board of Truscees and is systematically reviewed five times a yeir for each Board meeting. Failure in successfully concluding the merger discussions with Kisharon was identified 35 a critical risk in addition to the continued inflationary environment that is affecting the United Kingdom. The impact of both risks was being monitored c105ely by the Trustses and Senior Leadership Team. The other key risk area5 have been identified as.. Care and Safeguarding including infectyon and securiry risks. Reputation includin8 impact of serious incidents, dati breaches. Fundraising risk including the irnpac£ of the economy on fundraisin& Loan finance interest rate and the linked factor of property secured by the loan. Financial risk including dependency upon current government funding arrangements for the people we supporL Facility risks including health and $21ety, un5Uitabili¢y of accommodation, sustained loss of IT. People risks including recruitment challenges. staff shorcages and wage inflation. Each of these area5 have been reviewed in appropria detail and have mitygation plaTr5 and controls in plate and a risk owner. Our mitigation plans include the following.. Care and Safeguarding- mandatory training and auditing of services with oversight from our Clinical Services Committee, continuous review of policie5 and procedures complaints and safeguarding registers. Fundraising- a 5uceessful crowd funder event W35 held in 2022 following on from a similar even¢ in 2021. Financial risk- regular management accounts and cash flow projections. Regular contact with Local Authority Commissioners takes place at a senior level. Housing risl<s porifolio regularly reviewed, implementation of Brit15h Safety Council audit, new Health and Safety arrangemer*ts have been implemenced. Data- regUr reports on data breaches and implementation ol GDPR audit actions.
THE LANGDON FOUNDATION (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2022 Financial Review, Management Policies and Results for the Year The Statement of Financial Activities {SoFAI, set out on page 16, shows that the Foundation received donations and incotne of £8.838,628 12021.. £8,786,196) of which £9,258,16012021.. £8,801,511) paid out on expenses. leaving a deficit of £419,53212021 deficiL £15,315) before revaluation of properties. Much of the deficit arose in restricted funds and included utilising fund5 donated in previous Yea for property refurbishments. Our income and expenditure are finely balanced arbd the continuing impact of changes to minimum wage rates without comparable increases in statutory funding continues thac situation. The Management team continue to review £he cost base of the charity and our income genernting capability wiih the aim of gving the charity financial long-temi stability. A5 set out in Note 16 to che accounts, in 2022 the Foundation's borrowing with Lloyds Bank was replaced with financing Irorn Unity bank. After a l year interest-only perlod, this 15 1 capital repayment loan repayable over a further 19 years. The financial envlronment in which the College operates remains finely balanced and Is expectsd to continue to be so for the foreseeable future. The Education and Skills Fvnding Agency is the primary source of the education31 fee funds. Elements l and 2. The Local Authorities are the commissioning agents and prirnary contributors of funds for the care and cherapy Services received by students. classed as Element 3. Income has altered proportionally to the changes in student numbers, their level of dependency and need and, the change from residential to day placemenL Additional incorne for student travel and extra-curricular and social activities has also been received. Reserves The reserves of the Langdon Foundation are almost fully invested in fixed asset5 for the use ol students and residents. The charity holds reserves in the following entities.. Foundation £5,7181(, Community £1,342k, College £359k and Housing £246k. Group total reserves are £7,665,208, out of which £546,874 is restricted. £10.943,895 relate5 10 tangible fixed assets (2021: £10.180.6031, leaving unrestricted reserves at a negative1£3,825,5611 i.e. there are no free reserve5. Our consolidated balance sheet remains strong with freehold and leasehold properties cotalliTrg £10,943,895. Much of the activity of the Langdon Group takes a¢e through 5trbsidiary charitie5 and companies, as referred to e2dier in this report. The financial performance of each subsidiary undertaking was as expected, and summary financial results, net assets and liabilities of the subsidiaries are Set out in note 1.3. Approximately 80% of our operating income comes from the governmen¢ mostly through contract5 for care services with Local Authorities as well as Housing BenefiL If these care contracts were terminated, and the income stopped, we would also stop providing the care services thereby reducin8 COSt5. The trustees consider that Langdon does not need to hold subscanual financial reserves against the risk that ihese contracts might cease and has deemed six months, income a5 appropriate. Most of the remaining 20% of Langdon's income comes from voluncary donatlOll5 and a reduction in thi5 income would directly allec¢ our ability co provide our services. The trustees of Langdon Foundation consider that financial reserves need to be held to allow sufficient time 10 reduce expenditure and identify alternative lunding. The trustees have therefore sec a reserves policy which recognises chis risk and they seek to hold reserves which would cover a 25% reduction in net voluntary irncome of the Foundation lor the next ye3r. Based on the budget for the year ending 31 December 2023 Ihis would amount to 350,000. To incorporate subsidiiries. reserve policies. total group reserves would amount to £2,314.000. In considering the risk of a reduction in voluntary income, the trustees consider each major source and the lilcelihood that this might rise, fall or remain stsble. In general, the Trustees are ol the view chat voluntary income is likely to remain challenging but stable in the foreseeable future after recovering from a dip in incorne in 2021 caused by circumstances around Covid. In considering the financial reserves available, the trustee5 recognise that most of the unres¢rtcted funds are used to finance rangible fixed a5set5 which Langdon uses to provide its service& Although these assets could be sold to release cash, this would take time and auihoricy from the loan provider. The purchase ol real estace assets is funded by combination of dollations, operational surplus and bank loans. The trustees have therefore excluded the tangible fixed asset5 and bank loan from the calculations of available financial reserves. The truscees have used unrestricted net current asset5 excluding the loan as the basis for considering the financNI reserves available. At balance Sheet date this amount is £626,000 which is 27% of the desired level at Group level and a negative £1,166.500 for the Foundation. Further fundraising is contynuing in 2023. and Ihe intention is to increase our cash reserves. Taking these factors together, che financial scacefflent5 have therefore been prepared on the bas1S that the Foundation Is a going concem.
THE LANGDON FOUNDATION (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2022 Staff tralning and careér development The Foundition is committed to the training, career development and welfare of its employees. An illdividual's career development is assessed through annual appraisal and supervision. Trainin8 programmes are provided to meet ongoing needs, with the aim of developing employees for boih their current and their future roles. Full and fair consideration of applications is made for employment of disabled peoplè and we are a member of the disability Confident scheme. Staff Health & Wellbeing We continued to ensure Ihat all staff were fully aware of our Employee A5SiStance Programme as part of our wellbeing elforts in 2022 and into 2023 and we ran quarterly well being chec1( ins with staff across the organisation. We havè signed up cts Protect, an independent whistleblowing service that provides staff with the opporcunicy to whistle blow to an independent body in a confidential manner. We continue to offer hybrid worl(ing for those staff who are eligible. Future plan$ In 2021, Trustees developed a strategic framework to guide the Orn1S3t10n over the next 3 years. Langdon's strategic aim5 are set out in details earlier in this report. Specific objetcives and planned outcomes for 2023 are shown below. Ob'ective Recognising our core business and capability, we will respond to the preditted growth in people with mild to moderate learning di53bilities and autism in the ewish communit We will ensure our members live accommodation. We will develop our capacity ¢0 continue to Support members as they age as long as we can still meet thgr needs safel Outcomes Establish appetlte and capability to serve new communities in different geographles Optimising Opportunity Identify and build relationships with f(tnders that support capital etcs Worlc with benevolent Social housing providers to ensure we can secure quality and suitably equipped properties
THE LANGI)ON FOUNDATION (A COMPANY I.IMITED BY GUARANTEE) TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2022 Objective We will work with members aTrd theii- support network to develop every member supporting them to understand. map. and captL¢re their own developmen¢ Outcomes Develop an individual learning development plan for each member. Develop a model of Team around the Member. to support choic< control and self-determination. E&ch member to have a personalised decision-making agreement. Improve the ability to describe member's journey and success through reach and impaet measures. Involving members In decisions about their own care, shaping and influencing, breaking down barriers between mernber5 and profes5ional5. Develop a families. lorum and explore the potential ol mutual support for families. Mal<ing difference to members In order to provide bettsr support to our members. we will give more focus to ensuring familie5 are supported by us and each other. Vve will seek to expand early intervention with yourng people that supports transition and roves life chances. We will significantly improve our levels of staff and volunteer engagement, skills and capabilities in order that they feel valued and equipped to respond increasingly omplex needs mental health, autism, a ein erc. Working with Kisharon and Norwood, we will seek £0 idencrfy beneficial partnerships to deliver opportunities for our members and better services meeting the inevitable increase in demand lor LD services. Review 2nd evaluate models of transition into Langdon Services. Team learning and Development Develop an overarching culture that celebrates diversity and encompasses diversity and inclusion. Reaching out and Partnershlps A single poinc of access where LD enqulries are managed and directed.
THE LANGDON FOUNDATION (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2022 Connected charlties The Langdon Foundation is connected to three charitie5 which are Langdon Housin& Langdon Community and Langdon College, which are all registered with the Charity Commission. The Langdon Foundation rais lund5 and gives donations to Langdon College, Langdon Community 2nd Langdon Housing. The Langdon Foundation has the right to appoint and remove trustees of Langdon Colleg< Langdon Housing and Langdon Communi¢y. Disclosur• of Informatlon to audltors Each of ¢h¢ Trustees has ¢onfirnièd that there is no Infomiadon of whlch thÈy are each aware which is relevant to Che audic bu¢ of which the auditor is unaware. They have each lurther confirmed tha¢ they have each ¢aken appropriate steps ¢0 identify such relevant inforniatyon and to establish that the auditors are aware of such information. Statement of trustees, responsibilities in relation to the financial statement The Charity's trustee5 {who are 31so the dirertors of The Langdon Foundavon for the purposes of company law} are responsible for preparing a trustees. annual reporc and financial statemen(s in aecordance with applicable law and United Kingd¢)m Accounting Standards {Unired Kingdom Generally Accepted Accounting Pracueel including FRS 102 "The Flnancial Rtporllng Standard aPpIable in the UK and Ryblic of Irdand". Company law requires the Charity trustee5 to prepare finantial statements lor each year which give a true and fair view ol ¢he state ol affairs of the charitable company and the grP and of the incorning resou5 and application of resourc including the inco and expenditure. of the CharitaÈ grtrjp lor that pÈriod. In preparing the hnancial staternents. the trustees are required to.. selett sultable accountyng policies and then aptAy them consistendy. obserye ihe method5 and prineiples in the Charicies SORP (Statement of Recommended Practice); make judgements and estimates that are reasonable and prudent. state whether applicable UK accounting standards have beèn lollowed, sublect to any matérial doparnires disclosed and explained in the finaneial statements. prepare the financial 5taternents on the golng concern basls unlèss It Is inappropriate to presume that the Charity will continue in business. The trustees are responsible for keeping proper acco¢Jntlng records that dlsclese with reasonable accuraty at any tlme the financial position of the Charity and the group and to enable them to ènsure that the financial statements comply wlth the Companie5 Act 2006 and the Chariy s consutUti¢)n. They are also responsible lor 5afeguardin8 the assets of the Charity and the group and hence kIng reasonable steps for the preventlon and detection offraud and ocher irregulariues. The Tru5tees' Annu Reporc including the Stratewc Report was approved on behalf of the Board of Trnstees Mr N Henry Chairman of Trustees Illuly 2023 12
THE LANGDON FOUNDATION (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF LANGDON FOUNDATION Independent Auditor'$ Report to the Members of Langdon Foundation Opinion We have audited the financial statements of Langdon Foundation I'the charitable company'l and its subsidiaries {'the group'l for the year ended 31 Decernber 2022 which comprise the Consolidated Statement of Financial Actyvi¢ies. Group and Charity Balince Sheets. Consolidated Cash Flow Statementand notes to thefinanaal statements, including 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 che UK and Republic of Ireland IUniTrd Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements.. give 3 true and fair view of the state OF the group's and the charitable company's affairs as at 31 December 2022 and of the group's income and expenditure, for the year then ended.. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Prictice- and have been prepared in accordance with rhe requiremencs of Ihe Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing {UKI {ISAs IUKII and applicable law. Our responsibilities under those standards are further described in the Auditor s re5ponsibilitie5 for the audit of the financial staternent5 section of our report. We I independent of the group in accordance with the ethical requirernentS that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical St2nd3rd, and we have fulfilled our other ethical respon5ibilitie5 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 iuditing the financial statements. we have concluded that the trustee's use of the going concern basis of accounting in che preparaoon ol che ffinancial statements is appropriate. Based on the work we have performed, we have not identified any material uThcertaintyes relating evenrs or conditions that, individually or collectyvely. may cast significant doubt on the charirable company's or the group's ability co continue as a going concem for a period of ac least twelve monihs from when the finanelal stacements a authorised for issue. Our responsibilities and the responsibilities of the trustees with respect ¢0 going concern are described in the relevanc seccions of this reporL Other information The trustees are responsible lor the other information contained within the annual report. The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. Our opinion on the financial 5tatement5 does not coyer the other information and, except to the extent otherwise explicitly stated in our repor¢ we do not express any form ol assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other informauon is rnaterially inconsi5tenr with the financial statements or our knowledge obtained in the audit or otherwise appear5 CO be materially misstated. 11 we identify such maierial inconsistencies or apparent rnaterial misstatements. we are required to determsne 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 misststement ol this other information, we are required to report that fact. We have nothing to report in this re8ard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion based on the work undertaken in the course of our audit the information glven in the truSe$, repo, which includes the dlreccors, repon and the strategic report prepared for the purposes of company law. for Ihe financial year for whlch the financial sutements are prepared is con51Stent with the financial statements.. and the 5trate&c report and the directors, report ineluded within the trustees, report have been prepared in accordance with 3pplicable leg31 requirements.
THE LANGDON FOUNDATION (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF LANGDON FOUNDATION Matters on which we are required to report by exception In light oFthe knowledge and understanding of the group and the charitable company and their environment obtained in the course of the audit, we have noc identified material misstatements in the strategic report or the directors, report induded within the trustees, report. We have nothing to report in respect of the following matters in relation to which che Companies Act 2006 requires s to report to you if. in our opinion.. adequace and proper accounting records have not been kept-, or the financial statements are not in agreement with che accounting records and retsrrns- or certain disclosures of trustees, remuneration specified by law are not made.. or we have noc received all the information and explanation5 we require for our audit. Responsibilities of trustee5 As explained more fully in the trustees. responsibilities statement set out on page 12 the trustees (who are also the directors of the charitable company for Ihe purposes of company lawl are responsible for che 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 prewaration of financial statements that are free from rnaterial misstatement, whecher due to fraud or error. In preparing the financial 5tatemencs, che trustees are responsible lor assessing the charitable company's ability to continue as a going concern, disclosing, 35 applicable, matters related to going concern and using the going concern basis of accouncing unless the trustees ther intend co liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Auditor's respon$ibilitie5 for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error. and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance wich ISAS IUK) will always detect a material misstatement when it exists. Misstatements can arise from friud or error and are considered material if, individually or in the aggregate. they could reasonably be expected to influènce the economic decisions ol users taken on the basis ol these financial statements. Details of the exient to which the audit was considered cawable of detecting irregularities, including fraud and non- compliance with laws and regulations are set out below. A further description ol our responsibilities for the audit ol the financial statements is located on the Financial Reporting Council's website at.. .uklauditorsres onsibilities. This description forms part of our auditor'5 port. Extent to which the audit was consldered capable of detecting irregularitie5, including fraud Irregularities. including fraud, are instances of non-compliance with laws and regulations. We identified and assessed the risks of material misstatement ol che financial statements from irregularities, whether due to fraud or error, and discussed chese between our audit tearn members. We then designed and performed audit procedures responsive to those risks, including obtaining audit emdence sufficient and appropriate to provide a basis for our opinion. We obtained an understanding of the legal and regulatory frameworks within whieh the charitable company and group operates, focusing on those laws and regulations that have a direct effect on the determinacion of material amount5 and disclosures in the financial statements. The laws and regulations we considered in thi5 cOnt were the Companie5 Act 2006, the Chai'ities Acc 201 I cogether with the Chai-ities SORP IFRS 1021. We assessed the required compliance with these laws 2nd regulations a5 part of our audit procedures on the related finanaal statement items. In addition, we considered provi5ion5 of other laws and regulations that do not have a dIrt effett on the financial staMenl5 but compliance with which might be fundamencal to the charitable company's and the group's ability co operate or to avoid a materi21 penalty. We a150 considered the opportunities and incentives that rnay exist within the charitable cornpany and the group for Ir3ud. The laws and regulations we considered in this context for the UK operations were Gelleral Data Proiection Regulation IGDPRI, health and safety legislation, employment legislation. tax legislation. and CQC Regulition5 for service providers and managers. Auditing standards limit the required audit procedures to ideniily non-compliance with these liws and regulation5 to enquiry of the Trustees and ocher management and inspection of regulatory and legal correspondence, if any.
THE LANGDON FOUNDATION (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF LANGDON fouNDATION We identified the greatsst risk of material impatt on the financial statement5 from irrogularicies. including fraud. to be within income recognition, and the override of controls by managemenL Our audic procedures to respond to these risks included enquiries of managernent about their own identification and assessment of the risks of Irregularities, sarnple testifig on the posting of journals, reviewing aceountlng estimates for blases, reviewing regulatory correspondence wich che Charity Commission. aTbd reading minute5 of meetings of those charged with governance. Owing to the inherent limitations of an audit, there is an unavoidable risk that we may noc have detected some material misstatements in the financial statements, even though we have propedy planned and performed our audit In accordance with auditing standards. For example, the further removed non-compliance with laws and regulations {irregularitiesl is from the events and transactions reflected in the financial statrrnents. the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher ris1( of rtron-detection of irregularities, as these may involve collusion. forgery, intsntional omissions, misrepresentations. or the override of internal controls. We are not responsible for pi-eventyng non~compliance and cannot be expecTrd to detect non-compliance with all laws and regulations. Use of our repovt Thi5 report is tnade solely to the charitable company'5 members, as a bodyi in ac¢ordance with Chapter 3 of Part 16 of the Companie5 Act 2006. Our audit work ha5 been undertaken so char we might stale 10 che charitable company's members those matters we are required to state to them in an auditor's report and lor no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body. for our audit work, for this report, or for the opinions we have formed. Tim Redwood Senior Statutory Auditor For and on behalf of Crowe U.K. LLP Statutory Auditor London 27 july 2023
THE LAN(GDON FOUNDATION (A COMPAklY LIMITED BY GUARANTEE) CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR LNDED 31 DECEMBER 2022 Note Unrestricted Funds Restricted funds Total funds 2022 Total funds 2021 Income from: Donations Charitable attivitie5 Interest income Total income 1,095,706 7,349.515 180 8,445,401 276.134 1.371,840 117.093 7.466.608 180 393,227 8 838 628 1,589.436 7,196,745 8,786,196 Expenditure on: Roising Fuftds.. Costs of generating donations and event income Charitable octivities.- Education and student recreation Supported living arrangements 451,289 451,289 1,365,910 6.840,544 65,166 1,431,076 535.251 7.375.795 1,254,700 7,125,600 Total expenditure 8.657.743 600.417 9.258.160 8.801.511 Net Incomel(expenditure) Profit on sale of Fixed Assets Gain on revaluauon of fixed assets (212,342) (207,190) (419,532) 6,983 166.185 684.679 684.679 Transfer5 between funds 101874 101874 Net Movement in Funds 574211 309.064 265.147 157,853 Reconciliation of funds: Total funds brought forward Total funds carried forward 6.544,123 7,118,334 855,938 7,400,061 546,874 7,665,208 7,242,208 7,400.061 The sratemenc of financial activities includes all gains and losses recognised in the year. All income and expenditure derives from continuing activitles. The statement ol financial activities also complies wlth the requIrem)ES for che consolidaced Income and expenditure account under the Companies Act 2006. 16
Company registration number: 07621714
THE LANGDON FOUNDATION (A COMPANY LIMITED BY GUARANTEE)
CONSOLIDATED AND CHARITY BALANCE SHEETS AS AT 31 DECEMBER 2022
| Fixed Assets Tangible Assets Current assets: Debtors Cash at bank and in hand Total Current assets Liabilities: Creditors: Amounts falling due within one year Net current assets/(liabilities) Total assets less current liabilities Total net assets The funds of the Charity: Restricted funds Revaluation Reserves Unrestricted funds Total funds 14 15 16 17 18 |
Group 2022 £ I 0,943,895 1,143,011 588,846 2021 £ I 0, 180,603 1,272,125 721,865 Charity 2022 £ 10,885,220 350,147 39,615 2021 £ 10,114,945 309,660 284,977 |
|---|---|
| I,731,857 1,993,990 389,762 594,637 |
|
| {5,0 I 0,544} {3,278,687) (4,774,532} (2,780,542) {5,556,290} (5,166,528) (5,272,309} (4,677,672) |
|
| 7,665,208 7,400,061 5,718,692 5,437,273 |
|
| 7,665,208 546,874 4,677, I 68 2,441,166 7,400,061 855,938 3,992,488 2,551,635 5,718,692 451,501 4,677,108 590,023 5,437,273 692,940 3,992,488 751,845 |
|
| 7,665,208 7,400,061 5,718,692 5,437,273 |
Net income for the Charity only was a surplus of £281,418 (2021: deficit of £52,487).
The notes at pages 19 to 34 form part of these accounts.
Approved and authorised for issue by the trustees on :Z.1iuly 2023.
17
THE LANGDON FOUNDATION (A COMPANY LIMITED BY GUARANTEE) CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2022 Note 2022 2021 Cash flows from operating activities: Net cash (used by}Iprovided by operating activities 20 149.921 168,354 Cash flows from investing activities: Purchase of cangible fixed assets Proceeds from sale ol tangible fixed assets Net cash provided byl(used in) investing activities (283,119) 162,8091 96.233 33.424 283,119 Cash flows from finanting attivitie$: Interest received Repayments of borrowing Cash inflows from new borrowing 180 (4.000,000) 4,000,000 Net £a$h provided by financing activities 180 15 Change in cash and cash equivalènts In the reporting period 133.019 134,915 Cash and cash equivalents at the beginning of the reporting period 721.865 856,780 Cash and cash equivalents at the end of the reporting period 588,846 721,865 Analysis of cash and cash èquivalents 2022 2021 Cash at b2nk and irs hand Notice deposits (less than 3 month5, notieel 588,846 721,865 Total cash and cash equivalents 588.846 721,865 18
THE LANGDON FOUNDATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022 Accounting Policies The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows= l. l Basis of preparation The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their account5 in accordance with the Financial Reporting Sndard applicable in the UK and Republic ol Ireland IFRS 102} (effective I january 201 S} - (Charities SORP {FRS 1021}, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. The Charity meets the definition of a public benefit entiry under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless Otherwise stated in the relevant accounting policy. 1.2 Preparation of the accounts on a going concern ba51$ In considering the adoption of the going concern basis for preparing the financial statements the trustees have considered the financial reserves 2vai12ble and the risks facing the Foundation including those connected to the impatc of inflation on the Group's cost base. Government policy and it5 impacc on income levels, fundraising risk and the affordability ol support available from members. families, interest rate risk and the potential impact on the Group'5 ability to meei loan covenants and to manage cash flow. The trustee5 recognise that all of the unrestricted funds are used to finance tangible fixed assets which Langdon uses to provide its servlces. Although these assets could be sold to release cash {subject to receiving approvals from the Group'5 loan providers), this would take time. However, taking into atcounc the current level of reserves, expectations lor fundraising during 2023, and the Foundation's ability to sell properties Isubjecc to bank approval should this be needed} together with those factors set out on page$ 8 and 9 of the trustees, reporL the trustees have concluded that the financial statements should be prepared on the basis that the Foundation 15 3 going concern. 1.3 Basis of consolidation The financial statements consolidate the re5uIt5 of the charity, The Langdon Foundation 'Foundation" and its subsidiary undertakings Langdon College 'College" Langdon Community "Community" and Langdon Housing 'Housing" These are all also incorporated charities. Subsidiaries have been consolidated on a line by line basis. A separate Statemenr of Financial Activities and Incotne and Expendicure Account for rhe Charity has not been presented because the Charity has taken advantage of the exemption afforded by secuon 408 of the Companies Act 2CKJ6. These companies are limited by guarantee and The Foundation has the power to appoint and remove Trustees and is the sole member of the entities. The registered addres5 of The Langdon Foundation and all its subsidiaries is Unit 506, Centennial Park, Cennn121 Avenue, Elstree. Boreh3tnwood, WD6 3FG. Controlled company Country of registration Statu5 Langdon College Langdon Community Langdon Housing Langdon Trustee Compafty Enand and Wales {041044661 England and Wales1040553381 England and Wales {076232461 England and Wales {083421691 Registered charity 110889361 Registered charity 110863931 Registered charity 111427431 Compary limited by guarantee
THE LANGDON FOUNDATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022 The pdncipal actitY and the résults of thèsè controlled compnies lor the last relevant tinancial period were as follows: Income Expenditure Net movement in funds 2022 2022 2022 Principal actlvity College education and résldential services Langdon Community Suppor¢ed Living Langdon Housing Hovsing services Langdon Trustee Company Trustee services Langdon CollÈgè 1.565.054 4.405.417 1,761.212 {1.445.362) {4.555.941) 1,746,651 1180) 119.692 (150.5241 14,651 {180) Total Assets Total Liabilitie$ Re5erve5 asat31 December 2022 2022 2022 Langdon Collègè Langdon Community Langdon Hou51ng Langdon Trustee Comphny Langdon Foundation 478,708 1,911,009 379,125 1,016 11.274.981 1119,9941 1569,5911 1132,7401 358,714 1.341,418 246,384 1.016 5,718,692 15.556.290) 1.4 Income Income is recognlsed when the charlty has entitlement to ¢he funds. any performance conditions attached to the itemls) of income have been met, it is probable that rhe income will be received. and the amount can be measured reliably. Donations arè ret¢¥iised when received. Income from government or other grants. whether "eapital" grants or "revenue" grants is recognised when the charity has entitlement to the funds, any perforrnance conditions attached to the grants have been rnet, it is prObate that the incomè will be received, arml thtr amoun¢can be measured reliably and is not deferred. Income rec*vable for the provision ol education, housing or supported limng servlces are recorded In the Statement of Financial ACtitieS in thè year In whith these 5ervicts are provided. Investment incorne is accounted for when receivabl& 1.5 Expenditure Expenditure is recogni5ed on an accrua15 basi5 as a liabllity Is incurred. Expendlture incrleS any VAT which cannot be fully recovered and is reported as part of the expenditurt to which it relate5. Cos¢5 of raising lund5 comprise those cost5 assoclated wlth attracting volunury Intome and the costs lor fundraising purposes from charity event5. Charitable expenditure comprises those cost5 incurred by the charity in the delivery of its activityes and services for its beneficiaries. It includes both costs that can be alltxated direcdy co such ac¢ivities and those costs of an indirect nature necessary to 5UPPOrt them. Governance costs indud¢ those cost5 associated with meeting the constitutional and statutory requirements of the charity and include the audit fee5 and costs linked to ¢he Strategic management of ¢he charity. All costs are allocated beeen the expenditure ca¢egorles of the SOFA on a basi5 designed ¢0 reflect the use of the resourc& Costs relatyng to a particular ittivity are alloca¢ed direcdy. 20
THE LANGDON FOUNDATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022 1.6 Tangible fixed assets and depreciation Freehold 12nd and building are recorded at valuation. Other tangible fixed a5set5 are stated at cost less depreciation. Depreciation is provided at rates calculated to Wri off che value less escimated residual value of each a5sec over its expected useful life as follows.. Freehold land Is not depreciated Freehold buildings COmpur equipment Fixtures, fittings & equipment Motor vehicles 1%-2Y. 33% straight line 25Yo Straight line 25% straight line All single items with a value less than £1,000 have not been capitalised. The policy with respect to impairment reviews ol fixed assets 15 that these assets are inspected regularly for any impairment and any defect rernedied 50 as to rnaintain current Value. 1.7 Investments The Charity holds no invescments. 1.8 Debtors Trade and other debtors are recognised at the setclemenc amouni due after any trade discount offered and provision for bad and doubtful debts. Prepaymenis are valued at the amount prepaid net of any discounts due. 1.9 Cash at bank and in hand Cash at bank and Cash in hand includes cash and shori-term highly liquid investtnents with a Short maturity of three months or less from the da of acquisition or opening of the deposit or similar account. l. l O Creditors and provisions Creditors and provisions are recogni5ed where the Charity has a present obligition resultsng from a pasi event that will probably result in the transfer of funds to a third parcy and the amount due to setde the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any discounts due. 1.1 l Financial instruments The Charity has financial assets and liabilities that qualify as basic financial instruments. Basic financial instruments are init1311y recognised at trans3ction Value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the ellective interest method. 1.12 Critical accounting judgements and key sources of estimation uncertainty In the application of the group's iccounting policies described above, the Trustees are required to make judgments. estimates and 35sumptions about the carrying amounts ol assets and liabilities that are not readily apparent from other sources. These estimate& judgements and assumptions are made based on a combination of past experience. professional expert advice and other evidence that is relevant to the particular circumstance. In the trustees. opinion. the estimate with the greatest impact on the financial statements relates to the revaluation of properties. Propercies are revalued to marke¢ value af¢er taknng professional advice and taling account ol current market conditions.
THE LANGDON FOUNDATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022 1.13 Pension$ The Group operates several different pension schemes. The Langdon Foundation, Langdon Community and Lang(lon Housing all operate defined contribution schemes. Langdon College also operates a defined benefit scheme. For defined-contribution schernes, the amount charged to che SOFA in respect of pension eosts and other post- retirement benefits is the contribution payable in the year. Any difference betrNeen the charge to the SOFA and the contributions payable to the scheme is shown as an asset or a liability in the Balance Sheet The defined benefit schemes are multi-ernployer scheme5 and it is not possible to identify the Chariry s share of the underlying assets and liabilities of the rnulu-employer Scheme. P2rticipation in such schemes is accounted for as if they were defined contribution schemes. 1.14 Operating leases Rentals payable under operating lease5 are charged against income on a straight line basis over the lease period. 1.15 Fund accounting The Langdon Foundation maintains various types of lunds as follow& and transfers are made where necessary as permitted by the nature ol the lund5'. Unrestricted funds are available for use at the discretion of the Trustees in furtherance ofthe general objectives of the charity. Restricted funds represent income received which Is alloCad by the donor ¢0 a specific project. The restrittions are binding on the Trustees of the chariLy. Designated funds represent funds which are unrestricted. but the Trustees have de5igThated them for a specific purpose to further che objectives ol the charity. There are currently no designated funds. Legal Status of the Charity The Charity is constituted as a Company limited by guarantee and has no Share capital. In the event of the charity belng wound up, the liability in respect of the guarantee is limited to £10 per member ol the charicy. Donations Unrestricted funds Restricted funds Total funds Total funds 2022 2022 2022 2021 Donations 1095.706 276,134 1,371,840 1,589,436 Donations relating to unrestricted funds in the prior period were £1,352.653 and restricted lunds £236,783. 22
THE LANGDON FOUNDATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022 Charitable activities Unrestricted Restricted fund$ funds 2022 2022 Total funds 2022 Total funds 2021 Provision of housing, edueation and supported living arrangements 7,349.515 117.093 7,466,608 7,196,745 Prior period income from charitable activities rdating to unrestricted funds wa5 £6,996,067 and restricted funds £2CX),678. Investment income 2022 2021 Interest receivable 180 Analysis of expenditure Cost of raising funds Education and student recreation Supported living arrangements Total 2022 Total 2021 Staff coscs Direct fundraising cost5 Other direct costs Governance costs (nots 71 392,137 59,152 927,143 4.582.330 5.901,610 59.152 2,758,114 3,254,937 35,351 42,460 5,736,902 136,669 2,880,426 47.514 496.824 7,109 451289 1,431,076 7,375,795 9,258,160 8.801.511 Prior period expenditure was £8,801.51 l of which £8,142,535 wa5 unrestricted and £658,976 was restricted. Analysis of governance costs 2022 2021 Governance costs comprises.. Legal and professional fees Audit fees ank Chae5 and InreSt 8.234 26.864 7.362 11,974 ,680 9.860 42,460 47,514 Governance costs include payments to the audicors in respect of audit fee5 amounting to.. Group. £26,86412021.. £25.6801 including Charity £10,060 {2021.. £6,420). 23
THE LANGDON FOUNDATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022 Net income l (expenditure) for the year This is staced after charging.. 2022 2021 Depreciation Auditor's remuneration Interest payable Operating lease costs 204.507 26.864 154,804 961,971 212,634 25,680 125.971 955,325 Analys15 of staff togts. trustee remuneration and expenses, and the cost of Icey management personnel 2022 2021 Wages and salaries Social security costs Pension costs 5,216,232 5.077.558 480,938 457.090 204,440 202,253 5,901,610 5.736.901 The number of employees having benefits in excess of £60,000 or more were.. 2022 2021 Number Number £60.000 to £70,000 £70,000 to £80,000 £ 100,000 to £1 l 0,000 £120,000 to £130,0 5 of the employees whose annual emoluments exceed £60.00012021.. 5) had reuremen¢ benefits accruing under defined.contribution pension schemes which totalled £45.77612021.. £44,273) in the period. The key management personnel ol the Charity comprise the Chief Executive and the Finance Director. The total amounts of employee benefits received £200,894 (2021: £198,823). During the year cermination payments totallirkg £nil {2021.. £31.148) were paid. Termination payments are taken to the profit and loss account at the point that a constructive or legal obligation is ented into. None of the Trustees ofThe Langdon Foundation {or any persons connected with them) received any remuneration during the period or in 2021. Trustees were reimbursed £nil lor expenses {2021 nil) during the ywar. 24
THE LANGDON FOUNDATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022 l O Staff Numbers The average monthly head count of employees during the year was as follows: 2022 2021 Number Number Charitable activityes Fundraising Governance Administration 163 41 218 214 Pension and other post-yetirement benefit commitments The Group operates a number of different pension schemes. The Langdon Foundation, Langdon Community and Langdon Housing operace defiTred-contribution schemes. Langdon College operares boih a defined-contrlbution and a defined-benefit scheme. Defined-benefit scheme5. which are classified as mulii-employer schemes, where the parutipating employer is unable to idelltify their share of the assets or liabilities, may be aCcoUnd for a5 if they were defined-contribution schemes. As a result. the company s contributions payable in the accounting period are the amounts charged in the financial statements. Teachers, Pension The College participate5 in the Teachers, Pension Scheme {"the TPS'I for its teaching staff. The pension charge for the year includes contributions payable to the TPS of £81,851 (2021.. £81,869) and at the year-end £10.858 12021 £9.611} was accrued in respect of contributions to this scheme. The TPS is an unfuTrded multi-ernployer defined benefits pension scheme governed by The Teachers, Pensions Regulations 2010 la5 amended) and The Teachers. Pension Scheme Regulatyon$ 2014 las amended). Mernbers contribute on a "pay as you go" basis with contributions from members and the employer being credited to the Exchequer. Retirement and other pension benefits are paid by public lunds provided by Parliament. The employer contribution raTr is set by the Secretary of State following scheme valuations undertaken by the Government Actuary's Department. The most recent actuari31 valu3ti0n of the TPS was prepared as at 31 March 2016 and the Valuation Report, which was published in March 2019. confirmed that the employer conrribution rate for the TPS would incre3se from 16.4% to 23.6% from I September 2019. Employers are also required to pay a scheme admin15tration levy of 0.08% gving a total employer contribution rate of 23.68%. The 31 March 2016 Valuation Report was prepared in accordaTrce with the benefits set out in the scheme regulations and under the approach specified in che Direction5, as they applied at 5 March 2019. However, the assumptions were considered and Set by the Department for Education prior to the ruling in the 'McCloudlSargeant case,. This case has required the courts to consider cases regarding the imPlemention of the 2015 refortns to Public Service Pensions including the Teachers, Pensions. On 27June 2019, the Supreme Court denied the govemment permission to appeal the CourLofAppeal's judgrnent that tran51tionJl provisions introduced to the reformed pension schemes in 2015 gave rise co unlawful age discrimination. The government is respeciing the Courr's decision and has said it will engage fully with the Employment Tribunal as well as employer and member repre5entative5 to ree how the discriminations will be remedied. A consultation was launched by the governmenc on 16luly 2020, and closed to responses on I l October 2020. As a result ol Lhe consultaiion, the government announced on 4 February 2021 that it intends to proceed with a deferred choiee underpin under which tnembers will be able to choose either legacy or reformed scheme benefits in respect of their service during the period between l April 2015 and 31 March 2022 at the point chey become payible. 25
THE LANGDON FOUNDATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022 The TP5 15 subject to a cost cap mechanism which was put in place to protect taxpayers against unforeseen changes in scheme costs. The Chief Secretary to the Treasury* having in 2018 announced that there would be a review of this cost cap mechanism. in january 2019 announced a pause to the cost cap mechanism following the Court of Appeal's ruling in the MeCloudlSargeaTht case and until there is certainty about the value of pensions to employees from April 2015 onward5. The pause was lifted in July 2020, and a consultation was launched in lune 2021 0 proposed changes to the cost control mechanism following a review by the Government Aetuary. Following the public consultation, the Govemment have accepted three key proposals recommended by the Government Actuary and are alming to implement these changes in time for the 2020 valuations. The 2016 cost control valuations have since been completed in January 2022, and the results indicated that there would be no changes to benefits or membw contributions required. The results of the c05t cap valuation 3re not used to set the employer con£ribution rite, and HM Treasury has confirmed that any changes to the employer contribution rate resulting from the 2020 valuations wlll take effect in April 2024. Until the 2020 valuation is completed it is not Possible to conclude on any financial impart or future changes to the contribution rates of the TPS. Accordingly. no provision forany addition3[ past benefit pension costs is included in these financial statements. Defined - contribution scheme The Group contribute5 towards the Langdon Group Schemes run by Nest and Aegon which are defined ontribution schemes. The assets of the scheme are held separately from those of the Group in an independencly administered fund. The pension cost charge represents contributions payable by the charity to the fund. Contributions payable during the year were £122,589 {2021: £120.184.} 12 Related party transactions At the year end, Langdon Housing had a creditor of £56,83512021.. £99,055) due to The Langdon Foundation. During the year, Langdon Housing was charged ren¢ of £339,686 (2021.. £325.2961 by The Langdon Foundation and the year end balance relate5 to Ehese rentals. At the year end, Langdon College had a creditor of £22,798 {2021.. £31.9381 to The Langdon Foundation. During the year, The Langdon Foundatyon ch3rged Langdon College rent of £12,80412021.. £18,156) and recharges of £16,48612021: £17.1561 for shared costs. Langdon College also received donations that were initially received by Langdon Foundation. Ac the year end, The Langdon Foundation had a creditor of £1.250,656 12021.. £901,829) due ¢0 the Langdon Community. During the year, Langdon Community was charged £5,700 (2021: £5,700135 rernc by The Langdon Foundation. Donations of £250.35812021.. £180.5231 were pd to Langdon Community. The remaining creditor related to the costs Settled by Langdon Community on behalf of The Langdon Foundation and the bank transfers to meet the cash shortfalls in The Langdon Foundatiot). At the year end, Langdon Community owed £31,167 {2021: ntl) to Langdon Housing. Truse$ were reimbursed £nil for expenses12021 £nill during the year. In aggregate. donations of £36,159 {2021.. £75.363} were reIVed from Trnstees. £nil of these donations were restricted (2021.. £10.5)1. 13 Corporation t As a charity. Langdon Foundation is exempt from UK tax on income and gains to the extent thai these are applied to its charitable objects. No UK tax charges have arisen in the Charity. during the year or the previous year. 26
THE LANGDON FOUNDATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022 14 Tangible fixed a55ets Group Land and Buildings Leasehold improvements Computer Fixtures Equipment & Fittings Motor Vehicles Total Cost: As at I january Additiorls Revaluation 10.024,000 234,403 578,979 60,001 216,108 34,463 300,237 14,254 108,082 10,708,428 283,119 578,979 Asat31 December 10,837,382 60.001 250,569 314,492 108,082 11,570,526 2022 Depreciation: As at l January Charge for year Revaluation adjustment Asat31 December 2022 50.003 9.998 153,810 252.030 46,445 27,312 71,982 15,051 527.825 204,506 1105,7001 105,700 1105,700) 60,001 200.255 279.342 87,034 626.632 Net book value Asat31 December 2022 10,837,382 50,314 35,150 21,048 10,943,894 Asat31 December 2021 10.024,000 9,998 62,298 48.207 36,100 10,180.603 Charity Land and Buildings Computèr Equipment Fixtures & Fittings Total Cost: As at l January Additions Revaluation 10,024,000 234,403 578,979 140,835 5,170 179,165 5,310 10,344,000 234,883 578,979 As at 31 December 2022 10.837.382 146.005 184.476 1.167.863 Depreciation: As at I january Charge for year Revaluation adjustment As at 31 December 2022 88.766 32.592 140,289 20,396 229,055 159,288 I OS.700 105,700 105,700 121,3S8 161,285 282,643 Nèt book valuÈ As at 31 December 2022 10.837,382 24.647 23,191 10,885,220 As at 31 December 2021 10,024,000 52.069 38,876 10,114,945 All assets are used for charitable purposes. A valuation in connection with the new borrowing arrangements was carried out bylLL in early 2021 During 2022 the revaluation was updated by reference to Land Registry House Price Index changes to December 2022. The value of £10,837,382 {hlscorical cost £7,465.1321 consists of Freehold Properties £7.961,889 (historical cost £5,132.5811 and Long Leasehold Propercies £2,875,493 Ihiswrlcal cost £2.332,551). 27
THE LANGDON FOUNDATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022 15 Debtors Group Charity 2022 2022 2021 2021 Trade debtors Amounts owed by group undertakings Ocher debtors Prepayments and 2ccrued income 444,514 718,774 1,600 79,482 125,558 143,507 1.6(X) 130.944 3,673 173,443 195,223 503.274 59,770 493,571 1,143,011 1.272.124 350,147 309,660 16 Creditors: Amounts falling due within one year Group 2022 Charity 2022 2021 2021 Trade creditor5 Taxes and social security costs Ocher creditors Accruals Deferred income Amount5 owed to group undertakings Bank loans12023 repayments) 254,382 396,822 55,060 144.279 160.001 149,325 149,163 58,127 239,472 178.445 72,431 27,143 7,554 24,746 160,001 ,264,416 4,000.000 5.556,290 69,902 32,4n 8,552 81,109 178,445 901,829 4.000,0(K) 4,000,000 5,010.544 4,000,000 4,774,532 5,272,309 Deferred income rePsentS parental contributions received towards the Cost ofhousing prOSOn ofour members and fwo Crust grants. Charity Group Balance a5 at I january 2022 Amount received in the year Amount released to income from charitable accivities Balance as at 31 December 2022 178.445 178,44S 18,444 160,001 18.444 160.001 In May 2022 an interest only facility with Lloyds was repaid and replaced with a 20 year repayment loan with Unity bank which is secured on the majority of the Foundatyon's propertie& Incerest is at the bink rate +2.5% 28
THE LANGDON FOUNDATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022 17 Analysis of charitable fund5 Anal 51sofm Balance asat I January 2022 Income Expenditure Transfer between funds Funds as at December 2022 Langdon Foundation Property Development Fund Staff Celebration Volunteer manager 685.905 785 6.250 692.940 (234,404) 451,501 17851 6,250 7.035 234,404 451,501 Langdon Community Brady Club Employmentlsocial Enterprise Ambassadors Manchester Acrivities Mini Bu5 Infection Control Funds 80,280 46,700 197,939 191.3041 1330.4961 {1,0691 130,8331 35,676 132,557 1.834 765 7.000 23,833 5,772 5,772 39,459 291,098 74,514 528,216 122941 156,390 Langdon College Bro¢herton Real Estate Karten ESFA Bursary ESFA Covid Funds ESFA Pension Grant EFA Capital Programme ESFA Tuition Fund 1,370 1,370 24,495 1,388 (27.210} 11.388} 2.715 26,670 39,678 7,785 102,129 126,6701 38,687 126.5751 51,790 7,785 65,166 40.057 23.860 53.160 Group 855,938 393.227 1600,4171 1101,874} 546,874 29
THE LANGDON FOUNDATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022 An nts in restric Balance as at I january 2021 Income Expenditure Transfer between funds Funds as at 31 December 2021 Langdon Foundation Property Development Fund Strategic Project S¢aff Celebration Volunteer man2ger 677.715 25,000 30,000 785 (16,8101 139,6951 685,905 9,695 785 6,250 692,940 6,250 683,965 55.785 56,505 9,695 Langdon Community Brady Club EmploymentlSoci31 EnrprISe Ambassadors Manchester Supported Living Manchester Mini Bus Enterprise Manehester Occupational Therapist Staff training Infection Control Funds 23,000 128.034 49,220 170.7541 1324,918) 80.280 275,698 1,834 10,663 6,140 1,834 759 111,4221 {3681 12,520} 15,000} 14,000} 144.273 563.225 5,772 2,520 5.000 4,000 32,959 83,596 146,369 326,902 35,055 122,941 275,698 Langdon College Nathan Laski Memorial CT Brotherton Real Esta ESFA Pension Grant EFA Capital Progrirnme City Bridge Trust ESFA Tuition Fund 1,617 1.525 11,7061 1155} {22.702) 12,3661 17381 10.405 38.on 89 1,370 22,702 25,617 15,436 738 4,415 23,731 38,687 5,990 54.309 89 40,057 Langdon Housin8 Property maintsnance fund 464 464 1.144 1.144 680 680 Group 791.292 437,460 1658.9761 286,162 855,938 30
THE LANGDON FOUNDATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022 The L*n8don Foundation Property Developmen¢ Fund is to refurbish Langdon-owned properties to modern standards. VolunLeer manager are funds from che National Lottery and an individual donor to support the trUItment of a volunteer manager. Wohl funds supported a research projett carried out for Langdon Foundation and two other charities. Langdon Community Brady Club offers social acttvities to younger people with learning difficulties in Edgware. Ernployrnent & social Enterprise aids and trains people with learning difficulties to find employment. This includes New Chapter5 which offers a safe working environment to gain work experience. Ambassadors Manchester was created to service the fundraising activities of the parentsl group and ts earmarked for specific purposes. Supported Living Manchester 15 ovr main operntion in Manchester and help5 bridge the gap lelt by 5horifalls in Government fuTrding. Mini Bus funds were raised to purchase and support a new Mini Bus- the minibus was purchased in 2020 Activities are additional mernber5 activities, olten arranged in the evenings and weekend5. Occupational Therapist is to fund the employment of 2n occupational therapist to support our members. Staff training- a donation was received to 5upporc tfdining of care staff. Infection Control- funds were received from Local Auchorities to support additional costs incurred in relation to the Covid-19 pandemic. Langdon College EFSA items are for specific purposes as noted. Brotherton Real Esute is towards the cost of creating a music room lor students. City Bridge Trust fund5 are towards the cost of therapy for students during the Covid-19 pandemic. Norman Laski Memorial CT funds the garden project. Transfers are made from general funds to rescricted funds co make up the shortfall between expenditure incurred on and donation5 received for those activicie5. Restricted funds created by donations received by the Foundation for activities undertaken by other group entities have been shown under the group member thit ultimately applies the expenditure in accordance with the restriecion.
THE LANGDON FOUNDATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022 ment in unre ricted fun Group Balance asatl January 2022 Income Expenditure Transfer between funds Profit on sale of Fixed A55etS Funds as at December 2022 Unrestricted funds General fund Property revaluation lund Total unrestricted funds 2.551.635 3.992.488 6544123 8,445 AOI 684,679 9.130.080 {8,657,7431 101,874 2,441,167 4677 167 7 118334 8,657,743 101,874 Anal sis of movements in unrestricted and desi nated funds - revious ear Group Balance as Income Expenditure Transfer Profit on Funds as at 31 between sale of December funds Fixed 2021 Assets january 2021 Unrestricted funds General fund Property revaluation fund Total unrestricted funds 2,624,613 8,348,735 3,826,303 166,185 6,450,916 8,514,920 (8,142,535) 1286.1621 &983 2,551,635 3,992,488 6,544,123 8,142,535 286,162 6,983 32
THE LA.iiNGDON FOUNDATION (A COMFI4NY LIMITED BY GUARANTEE) NOTES TO 114E ACCOUNTS FOR THE YE,'IR ENDED 31 DECEMBER 2022 18 Analysi5 of net assets between funds Group Unrestricted funds Restricted funds Total Fund balances at 31 December 2022 are represented by.. Tangible fixed assets Current assets Creditors- less than one year 10,943.895 1,184,983 5,010,544 7 118335 10.943.895 1.731,857 5010.544 7,665 209 546,874 546 874 Charity Unrestricted funds Restricted funds Total Fund balances it 31 December 2022 are represented by.. Tangible fixed assets Currenc assecs Creditors- less than one year 10,885,220 {61,7391 5,556,290 5,267,190 10,885.220 389,762 5 556 290 5,718,692 451,501 451,501 Analysis of net assets between funds- previous year Group Unre$tricted funds Restricted funds Total Fund balances at 31 December 2021 are represented by.. Tangible fixed assets Current assets Creditors- les5 than one year 9,494,698 1,823,957 4,774,532 6.544,123 685,905 170,033 10,180,603 1,993,990 4,774,532 7,400,061 855.938 Charity Unrestricted funds Restricted funds Total Fund balances at 31 December 2021 are represented by.. Tangible fixed assets Current assets Creditors- le5S than one year 9,429,040 587,602 5,272,309 4,744.333 685,905 7.035 10,114,945 594,637 5,272,309 5,437,273 692,940 33
THE LANGDON FOUNDATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022
19 Commitments under operating leases
Group
| Group | ||
|---|---|---|
| Land and | Buildings | |
| 2022 | 2021 | |
| £ | £ | |
| Total of future minimum lease payments under non-cancellable operating leases are: | ||
| Expiry date: | ||
| No later than one year | 531,914 | 498,437 |
| Later than one year and not later than five years | 277,304 | 293,362 |
| Later than five years | ||
| Charity | ||
| Land and | Buildings | |
| 2022 | 2021 | |
| £ | £ | |
| Total of future minimum lease payments under non-cancellable operating leases are: | ||
| Expiry date: | ||
| No later than one year | 88,819 | 66,614 |
| Later than one year and not later than five years | 37,008 | |
| Later than five years |
20 Reconciliation of net movement in funds to net cash flow from operating activities
| Net movement in funds (Gain) on revaluation of property Add back depreciation charge Deduct interest income shown in investing activities Fixed Asset disposals Decrease/(lncrease) in debtors (Decrease)/lncrease in creditors Net cash provided by/(used in) operating activities |
2022 £ 265,147 (684,679) 204,506 (180) 121,972 243,155 149,921 2021 £ 157,854 (166,185) 212,634 ( I 5) (318,523) (54,119) (168,354) |
|---|---|
21 Post Balance Sheet Event
In 2022, Langdon announced that Langdon and Kisharon (a charity offering similar services to Langdon) were considering a proposed merger. Consultations and Due Diligence have taken place and the Langdon Foundation Board resolved on 3[rd ] July 2023 that the merger should be effective in 2023.
34