R•giSt•rèd numbor. 07931728 Charity numtxr: 1146481 The Kenward Trust (A company limited by guarantee) Trustees. report and consolldaled financial statements for the yoar ended 31 March 2021 lllllll th￿&Ju8)I2. 2111212021 COMPANIES HLWSE A15 Tho Kenward Trust ' IA cornpany Ilmited by 9￿m￿t•0) Cont•nts Relerenc• and admlnlstrativ• delails of th• Charlty. Its Tntst••s and advls•rs Trusts•s' rnport 3-12 Independent auditorfs report on the financlal stalements 13-16 Consolldat•d stat•m•Tht of finaneSal actfvltl•s 17 C¢)n$olldot¢d b•lan￿ $h¢el 18 Charity balanco sho•t 19 Consolldated sLitement of cash flows . Notes to the financial staternents 21-48 The Kenward Trust ' {A ¢ompany limlted by gua￿￿￿) Referen￿ and administrativ• delalls of the Charity. its TNsle•s and advlsers for th• y•ar •nd•d 31 March 2021 T￿￿¢¢0$ P Andrew6, Chair of Kenward Enterprises P Brook S Bellon J Elks, Chair of Spirituality Committee Dr. A Jones H Kendall B Langstsff (reS￿ne￿ 23 20211 G M¢)nk A Parvin J Simon {rg$ignod 24 March 2021) S Thomson, Ch8ir of Quality Assurance Committee S Webster. Chair ofthe Finance Committee C Munday, Chair of Board of Trustees (appointed 23 J￿e 20211 A Price {apwnted 24 March 2021) Company r•gisler•d numb•r 07931728 Charlty reglstered number 1146481 Reglsternd offlce Kenward House Kenward Road Yalding Maidstone Kent ME18 6A Company secretary Keith Greenhalgh Chi*f exe¢utive offi¢•i . Penny Williams Ind•￿￿dent auditor Kreslon Reeves LLP CharteTed Accountants Monlague Place Quay3ide Chatham MaTiti"me Chatham Kent ME4 4QU Page 1 Thè Kenward Tru$t IA Company limitsd by guarante•) Rof•r•rico and administrative d•tsil$ of the Ch•rity. its Truslees and athilsors {contlnu•d) for the year endod 31 March 2021 Solicitors Whitehead Mon¢kton LKiuled 72 Kbng Street Maidstone Kent ME14 1BL Page 2 The Konward Trust (A compaThy limited by gu•ranl¢•) Trustees. report for the year •nd•d 31 March 2021 The Trustees present their annual repx)rt together wilh the audited financial statements of ihe Kènward Trust for the year 1 April 2020 to 31 March 2021. The Annual report serves Ihe purposes of both a Trustees. report and a directors, report under company law. The Trustees confirm that Ihe Annual report and finarKial slalements of the charitsble company wmpty wth the ¢urrgnt statLrtory requirements, thg requirements of the charitable companys goveming do¢umont and the provi$i(yn$ of the Statement of Recommended Practice {SORPI applicable lo charilies prepariThJ their accounts in awdance with the Financlal Rwting Standard ap￿1¢able sn thè UK and Rèpublic of Ireland IFRS102} (effective 1 January 2019). About Us Kenward Trust prowdes S￿)pOrt to those affecle(I by addicti￿. hOMe￿S$￿e$S and crime. The Trust was founded in 1968 by Ray and Violet Sinden. a couple tmth a strong Chrisfian faith. The couple's eldest daughter, Olive. was friendly wth a Church Afmy Captain who W0￿ed amoThJst the horne￿55 individuals on the streets of London. Many of them had been sober for some weeks and wshed lo remain in ￿0very, bul there was no place that would gNe them shelter. Ray dec￿ed to tske some of these men home for rehabilitation, but one quickly lumed into three arml their fami in Sevenoaks became ovwuowdgd. The family sold up and purchased tyjr estate in Yahjing. whith 1$ 7where I(en￿rd tegan. From Itw)se mcwjest beginnings. the Trust today takes in around 100 resKlents each ￿ar across five buiklings, as well as reaching hurKlredsJof young pe￿e through preventi￿ inib'atives and helping others with advice and support. Why our work is important Al Kenward Trust we provide a breadih of services. all with the aim of helping support those with addiction issues to transform their lives and create new futu￿5 for themsefves away from their addictions. Our Work centres upon giving peO￿e the opportuntty to change their lives and reach their fvll potential. and with a success r81io of 73QA out Wofk is su¢¢essfvl for the ¥asl majority who access rt. Treaknent for al¢ohol-related injuries is &stimated to cost Ihe NHS £3.5 bdlion per ￿ar.• There were 1.3 mdlion hospital" alknissions related to ￿COh￿ wi 2019. vthich equates to 3,600 admissions a day.2 There were 4,393 deaths reLAting to drug poisoning in 2019.3 Referer￿s. 1 https..Ilwww.en*nd.nhs.ukT20191011nhs-kyy-terTrF4an-*ry￿I+p￿0bIèrfvdrinkers-8nd.srnOkerFj 2 https'.IldvJital.nh8.UkJdata-aTrJ-inlonnabo￿pUbIlcal1OnS1slthIlc8u$t3listi¢s￿-alcohov2020Ipart-1 3 http8.'1A￿w.On8.gov.uk1PeopIepOpuL3ltrJ￿andCommunIty1bIrthSdea1hSandmaTrl8gesIde3ffis1buI1ts1Irt￿deathsrela1edtodl JpoisoningineThJl#ndandwalesf2019regr6trations Our w￿•0￿. Mission. Values & Christian Ethos Our Vision." Every irKlividual suffefing *ith addiction issues recwth the support they need to transfom) their lives. Ourths$ion.' To support and empower all indr¥idua15 affected by addKAion and homèlessness so they can transform their lives and create rthv fulum. Our Value$.' Kenward Tntst's values are at the heart of eveWing we do. Open•mindod We are open to new ways of collaborative workiru and beirvj fiexible to meet the needs of the individuals who require our supporL Page 3 The K•nward Trust (A company Ilmlted by guarantee) Trust••$' r•port (continued) for the year •nd•d 31 PAaTch 2021 . Care ca￿ is central to wgrytrung that we do. We are Compassi￿te arwj supwtive within (wr staff team as well as lo our residents. We listen. Every voice ig heard appreciated and aH"of our seThices are jLKl9ement4ree. Empowemiene We empowgr all Ihal access ￿ fun ow seThices n order for them to reach their full Fm)tenIi￿. Education Being inf¢ffi*d and reducing Sligma around addK#iM. homele￿r*S aTrJ ¢rirr￿ guides all aspects of our work. Our Chrfstlan Ethos." Our Christian Ethos undefpins the way we help people in clisis. We a¥n to reach out to those are on the margins of sorjety and we believe that dèserves a second thance. Chaimwn - C Munday I took over a$ Chair in June 2021 at an exciting twne for KenwaTd Tnjst. The team are to be commended for théir diligence during the pandemic and have not just survived but d&ve￿Fed tho chawity to meet the changing needs of our socièty. Tlws sector has struggled wilh lack of fijndmg for a decade bul KerNRrd Trusts innovative development of services from alpaca walks to repurposing the accommodation to meet the needs of new diènts such a$ the homeless has been e￿ptIonal in terms of its own financAal recovery. I look forward lo the nexl ￿ar wth the Tnjsl. l(K)king to ￿ the deVelO￿ents we are making come into fwition. CEO. P I￿111•￿$ 2020 year everyone will remember. The new ffinancial year for Kenward Tfust. started in knckdown and the team worked tirelessly. adopting new safety protocds and fiexible I￿rking practices. Kenward P￿￿e, incorporatirKJ, Sage & Time Café closed for business, along ￿ the conference centre. alpaca.walks anrj f￿r￿raIsing events. The business plan was focused on seif-funders for slage we. the Move On Properties and building upon the increased revenue from Kenward Enterprises. The chan9ed w focus lyjl we have been Ilexible and developed around these challenges. Re*ngaging rrtore alcohol and dwg units in councils. 9ovemment funding to keep more people safe when Ihey We￿ homeless and running an effiC￿nt quaranline meant we actually saw numbers increase in Stsge One. There was an increased demand for Move On accommodation and fortunately having sold Portland Road. Gravesend property in January 2020. the Trust coukl invest in developing the Uckfield property to be home for 15 residents, from 7 previousty. to meet this demand. Strategically, thÉs was an impc*tsnt step for the Trust. and lookj'ng forwards. the is to expa￿1 our Move On [￿lI01￿> in th* Easl of K￿l Flexibility has been key during this year and moving forwards it wll be a continual theme. Utilising our property ' and skills to meet more needs and engagement more rjjsto￿s to ir￿￿aSe our income. Development of services and income streams in each of our seryices is key to luture consistency of profit and growth. with tho overall aim of investment in rr#)re propertie5. l arn proud of the team al Kenward Trust and look fomaryj to our continuod growth and success into the néxt few . years. Page 4 The K•nward Trust {A Gompany Ilmited by guarantee) Truste¢s' report (continued)" for the year ended 31 March 2021 Residential Rehabilitation Kenward's Therapeutic Community offers rehabditalion to Ihose suffering wilh addiciLm to drugs and a1￿h01. We use the .￿coVery model. which enoxjrages the indiwdual to tske ￿Thtro1 oftheir life and how they experience it. We do this throu9h empowering and edu¢atir¥J our residénts to equip them ￿th the skills they need to be able lo transform their own lives and ¢reate their futu￿ in the Community vthilst remaining in recovery. Our programme offers groups. Therapeutic Gardens & WorkstrK)ps. lrfe skills. psythoeducation. coping mechanisrns. relaxation. spirituality, meditation. key wothing, Cl￿ns￿lIng and optsonal aspects of fellowship. This year has been incredibly ¢hallenging for us. as it has been for the entire charilabie sector. The maprrty of our residents are al high risk for the coronawrus so keeping the viws off our site was vital in maintaining our high l&vel of ¢are. Fortunately V** managed this due to the hard work of our dedicated stsff team implementing an isolation block for new admissions and testing all staff and residents Toulinely. The main aim we continue wilh for the next ￿ is keep￿￿ our o¢cupanc¥ levels at a sustainabl• 18vel for th• future and reaching mcffe self-funded dients for whom we re¢eive a higher weld that helps to support the ov&rall running costs of the Trust. We have developed ￿1r gym for the ￿Sidents this year thanks to grants from The 81akemore Foundation and Ihe Peter Harrison CharitstAe Trust. which ha$ bean so bèneficial in helping our residents improve their phy6ical health. which in tum helps improv• their mental wellbeing. Next year, we would like to re-develop our edu¢aticmal offering for our residents to help them become job ready, and provide further skills lo help Ihgm in their new live$ in reco￿. This year we helped transforni Ihe lives of 96 indmduals affected by addiction. 70% of those who accessed our service needed support with their alcohd use. Over 11S of our residents had a housing issue upon arrival Ihat could affect their recovery Or￿ leaving our 5erwces. Wy name is James. I have been wrfh the Kenwarf tnlst for four monfhs now. I was homeless and under the inft1uen￿ oldnws and alcohol. and felt like I had nothing to INe for. Now l am four months clean and sober. and feel like there is a firture. They not onlyprovided mo ¥wih help and support. Bul also wilh kindness. Irust and a great fftendsthp which has p￿￿ed me up and guided me to a betterfirfuro. l Continue to better myself every day. and feellike I have hada new start. I thank all the staff for their time and support. And now look forward to the rest olmy lrfe". James ￿g91￿$ . Day Trnatment Kenward Trust's day treafment offers fiexible. confidential. and affordable support lo Ih05e affected by addiction lo alcohol and dwgs. This servtce was origirkilty created as we understand that rKJt everyone needs access lo our rehabilitation seNce will be eligibte for statutory fundir4J or be able to afford to fund their stay private￿. Additionally. running this service fiexibly. by t￿lh running it via Zoom and in person, and at limes that are convenient for the benefiuaries means that we are able to help more indivKluals who otherwise would f811 through the net of support available. We were originally due to launch this project in March 2020. but the pandemK caused us lo have lo ￿*Valuate and adapt origirtal plan lor the seTvi¢e to be exdusNely remote and greaty restricted our marketing for this service %wthin the ¢ommunity. We still manage to prowde our support for a few individuals within the first few month5. bul since then our ¢ounsellin9 has bewne vèry p¢wlar and the rest is growing. This has been a challenging year for this service to have launched. bul V** are posit￿ that given the chance it wll grow lo be incredibly successful and help to i¥*e of the defi¢il in incoff*, whilst helpN¥J us continue supporting those affected by addicti¢￿. Page 5 Tho Kènward Trust IA eomparty limlted by guarantee} Tmstse$' r•port (continued} for the y•ar ended 31 March 2021 Another service we added to our Day Treatrnent offering Ihis JEar is our Friends. Famity 8 Loved Ones support group which is free and runs wa Zoom VAth a member of our expert team. This is a seThice we are incredibly paS￿onate about after hearing from the family Ir￿MberS of those WIKJ are affeded by addiction calling Ihrough to us for many years. Ajthough this seNice brings us in direct inwme. we bdieve it will raise awareness of the Tnjst as a centre of excellence in Ihe addiction field. and also potentially bead to more referrals to our other se￿ICes. Resottlomont Kenward Trust's ResetNement projects Offe￿ supported ac¢ommodalion to Ihose are abstinent and wanting to conlinue their recovery inlo the community some further s￿[￿rt. We offer ts¥o supported resettlement projects. Kenward Lodge. and Move On hrAJses across Kenl and East Sussex. Kenward Lodge takes in homeless indMdu81s who struggle to a¢¢es$ community drug and alcohd semces due to having a lack of accommodation for up to 12 weeks. This can then flow through to our Move On accommodation which offers longer-term support of up to Iwo yèars where offer regular 6UPPOrt from their ka￿Orker. but encourag8 re￿dents to become active in the community thrO￿Jh volunteering and linking in ￿th recovery groups availabl8 in the area. We find that our residents benefit from Imng amongst a group of peers. drawing strength and support from eath other. and reduung the dangers.of isolation. Our Resetllement projects help to sustsin recovery and relntegrabon into th$ community as independent ￿1vIduals. This year our Move On acC￿￿modatIOn h85 proven to be more important and impactful than possibly ever before, with our serwce providing our beneficiaries a safe. Covltkfree environment during a particularfy difficult part of their re¢overy ioumey. WÈ have managed to keep our residents safe this year and expanded our accommodation al U¢kfi8ld alongside improving the outdoor areas thanks toia grant from Nationwide. The pandèmi¢ was particularty diff￿1t for resident5 of KenwaTfl Lodge as our main aim for thi$ project is to encourage them to engage more with the community. which was not available during lockdowns. Therefore. we have been working on developiw our offeriNJ lo the residents of this project to ensure'lhat they are receiving additional support from us to asslsl them in their recovery. Our main aim for nexi yw is to gain more accomrnodats)n for Move On projecL and therefore be able to help more individuals. and also increase our revenue. This ￿ar we lost one of our properties in Gravesend. but gained one in Canterbury, whKh is prowng to be more Fwlar for our restdents. so looking for additional properties around Kent wll be hLKJety benef￿la1. Additionally. we want to work on our educational offering for our residents lo help thèm become job ready once leaving our seNce. This year we have helped 31 indrwduals by p￿dIng safe, secure ac¢ommodatiDn and Supp￿ to help them continue their recovery in the cornmunity. -Due to my alcohthlism I was in need Ofprofe￿19naI help and Kenward was found for mg w8 Live Well. I h8Ve h*d bad gxperiences in the past with rehab and was apprehensive. However. Kenward Lodge exceeded 811 my droams. Everyone was really helpful and the staff have been amazing. Us r¥&dents grs all in the same boat and that has been helpful. In my opirith, rf has been more l)engficial than ￿Mil￿91he lthry. I have a start of a new life. The transition lo the move on was easier than l th0￿h1. W& 811 have our bad days but moving on has been a good experience. Ilyou are off8rt1 Ihe tjpportunity. dony be a fool. grab it with both hand&- The Kenward Trust IA company Ilmited by gu•ranle• Trnstees. report (continued tor th• Y•￿ end•d 31 Mar¢h 2021 Gary Chandl•r Youth Work Our Youth Team works closely *ilh ed￿al￿￿ sekngs as well as I(￿1 authorities to provide education. infomiation and early interventKJns to young people abc￿ ihe risks assoaated with drugs and alcohol. The overarching aim of the project is to ensure that srjurvj FeOFAe are fully informed on all areas surrounding . substances so Ihey can make their own ¢ho￿eS in the future. The pandemic put a strain on this project as sthools and other educational settings rem8ined dosed during large portion5 of the year. Our outreach semces however. conts.nued throughout the entire pandemic. with our team being one of the ¢￿[Y groups ￿ntinuIng to provKle support throughout. Due to this. wo furfoughed our Think Drfferenuy team during the first lockdown and then brought them back vrilh the schools beginning to re-open. We adapted quickty from there, offering online sessirms for pupils as weil as in person sessions with proper prgcautions taken. Additt￿a1ty. thanks to fundiry from KCC we were to begin Cascade Training in schools in S&venoaks and Tunbridge Wells, which invofves students in years 12 and 13 taking part in our sessions, before teaching their learning lo )￿ur￿jer pupils. This has pro¥8n to be irKredibly successful and we are very pleased lo have received such positive feedba￿. We released our film. arHI leaming rosource to 161 odu¢alional settings auoss Kent for freo thi$ y8ar due lo grants from colyer-Fergus￿Jn. Kent Communty Foundat￿. Henry Oldfield Trust and Gibbs Lahdler. The feedback we have received has been very posibve and next sear we hope to be able lo sell Ihis resource further afield and bring more of a profit to the Trust. Next year we will k￿k into these seThices and htr* they we priced. to ensur8 that they are contributing financially back into the Trust, and hel&Nng alleviate their own overhead (tsts. Moreover. to help ￿a¢h this goal. we will look into more Trusts and Corporates wll be wlling to fvnd our work.wilh young people across the South- East. iorM of sludents said Ihey were move lknly to avoid risky behavrours ènd situalions regarding alco1￿1 and substance u$e folowng a Think Differenty session. .1 just wanted lo say Ihat the presenlation... was amazing. In my 20 yeats at this Sch(￿1, I have seen some excellent pTrsentalions but Ihis one was outstanding. tt was very obvious Ihmtsgl￿trt that th$ skndgnts were captwated byhis story and hwfvlfy Ihey will take onboanl all thothe hod to say." Kenward Pla¢0 Kenward Place is the commercial ente￿rise at Kenward Trust hew to raise WOTlhwhI￿ funds for the charity. It does this through our conference rwms. alpaca experiences. archery, disc goff. and away dayE. During the pandemic we had to dose Kenward Place. so we took this opportunity to evaluate the running of the enterprise to keep il as safe as possible for our staff and residents during the pandemic, an¢J' also more financialty sustainable in the long lem. To achieve this. we look the decFsth to create an e-commerce element on our website to make booking the actiwlies wrth us dwedy more effiuent. and made the sile inaccessible unless SOTneone has we￿OOked wth u5. These changes have made a sJgnffi¢ant wnpact on (￿r fin￿¥1 viabilty. and going forward. we are looking to build on our offering lo the public, ensuring that we have the facil￿"e$ and ￿$OurCeS available to grow. and the￿f0￿ support the charity more effectively. This wll in￿￿e introduclng aftemoon teas and deveksping our grounds to be able to implement a membership system for those want to make the most of our fifteen acres. Page 7 Th• Kenward Trust {A company limited by guarantee) Trust•¥$' report {¢ontlnued for th• y•ar •nd¢d 31 Ilar¢h 2021 We intend lo contact more corpofate groups to support Ihe Trust through Kenward Place in our marketin9 plan. through inibalives such as adoptin9 us as their charity. general fundraising. or corporate drug and alcohol training. This t()Ih helps raise additional funds to support the charity. and links the messaging from the Trust through to Kenward Place. -1 have just returned home afterspending the day ￿th my friend and our 3 ¢hildTrn, afterdoing archery and disc gom with you and felt the need to wnte to tell you what an amazing day we all hadl The booking process was mple and communiCat￿n...waS good. (Our instrucfor) kepf the momentum going and made it fvn. 8$ well as leaching us about safety and helping us ￿ our technique.- Our Hlghlights in 2020121 Keeplng oursite COV11%19 fr This year has been incredibly drfficult. and wilh our residents being at a higher risk of contracttng the virus, we are incredibly proud that due to our staff and volunteers dedication we have kept our residents safe. through the development of an iscAakn area at the Barn. Developlng Uckfi•ld We made the decision lo develop our Move On accommodation at Uckfield lo Increase our capaiity from 6 bedrooms lo 15 to keep up with the increase in demand. This has been very successful and w8 are very happy th tre re￿ry communrty tha¢ has been ¢xeated there. Contlnulng wlth alpaca walk$ Kenward Place is very important in hel￿Thj to fundraisa for K8nward Tmst. so having to close it throughout th8 pandemic had a big impacl on the Trust. We are proud however. that as soon as it was possible we managed to safely re-open tyjr alpaca experiences and began generating income to support the charity throughout this difficult peri￿. Kenward Place is an important element of our marketing strategy, helping to raise awareness of the Trusys work. Gym Due lo severe weather last year. our gym flooded. whith was a big blow to our residents as improving their physical fitness is very important in recovery. We spent time this fixing the building. and thanks tr) grants from Peter Harrison Charrtable Trust and Bl&kemfft Fcmjndation we purtha5ed new.equipment for our residents lo use also. Our Strat•9ic Alms for 2021r22 Gmwth Our Resetuement I￿0￿¢1 is hug* ber*fwl for residents. giving them the chance to acdimatise to Iheir new lives remaining in recovgry. One of Ouf properties leased in Gravesend ¢ame to an end this year. which we replaced with another property in Canterbury. We are very keen to expand on our propety FK)rtfolio and into the East of Kent. enabling this projecl lo be ab￿ to provide support to more rndivlduals it) need. during a difficult period of iheir rernvery. INe hope to expand our ￿￿101￿ and ￿￿age ￿th I￿re agenoes for referrals. Sustainability We have made swnifficant pn)gress in improVw￿ finawal sustainabilty Ihis ￿ar. so looking to build upon this progression nexi year wdl be key to ensuring Ihe longer temi vkibility of al of the seThi¢*s that Trust provides. Progression We have received a grant from Kent Communty Foundaticm to IMp￿ment a case management system for our clinical loam. Moving fomard we bel*ve it is wtsl that we move away from paper and onlo online reporting which 11 make our team MO￿ effluent. Addrfionally. our fo¢us wil be on improving our sorvices and value to our clients and documenliNJ ¢wr progress. Development ' Increase our offering to our residents through the formation of an. education block and building on our programmes wll be very imwtant to ensuring that our residents gèt the most out of our programme$, and ensure they have the best possible start ￿ thew recovery p)umey. Page 8 The Kenward Trust IA company limited by guarantee) Tru$tees' report {contlnu•dl for the year •nd•d 31 Mar¢h 2021 Flnan¢lal r•vl•w Prfrpandemic the Irust anlicipated a break-even tradi￿ posthn the 2021 financial year. The panrjemic impaded our revenues, bul we still managed to increase ￿VenueS over the prK* year- and lo further cut costs. The shortfall in antKipated revenue meant that Ihe Trust had an operats'rrfj loss, but 35% less than the prK)r year. A revalLtation of our 2 smalor Mo¥frOn h(wses redLKed U)e coeratir8 ktss by a further £216,250 - an overall loss redudi¢)n of 80% on the prior year. The remaining main sites al YaK1ing and Uckfield will be revalued as part of our Loan.Facilty requirements in the 2022 A¢¢ounts. We anbcipate this revaluatK)n will result in a further significant revaluation gain. During the year we sold our property in Gravesend to allow us to iwest in arKI oxpand our Move-on facilities in Uckfield. the remairKler of the funds were used to improve our facilities on thfr main Yalding site and for cashffl¢)w purposes. The extra capacity has started to drive increases in revenues in the 2022 Financial year. The Trust has a knig4erm Business from Urmty Tn￿1 Bank vtho continue their supwt and beI￿ve in our recovery business plan. Despile a strategy of carefvl cost control and develcying new income streams, the Trust is still likely to make a further, redu¢ed operating k)5s in the 2022 Financial Year. {But this v*ill be off5el by the rev8lualion gain mentioned above). We now antiu.pate a a small profit in the 2023 Financial Year. Total income for the was £1.464.188 <2020.. £1.349.4471. Thks is * incwse of £114,741 cornpa￿d to 2020. ' As in the prior year we have had a strong fc￿ on cost contrc4 and this year we have manag8d to further reduce overheads. Whilst we are still likely to make a loss in the 2022 Financial year we anticipate that from 2023 onwards we should be able lo generate a surplus gcrfng forwards. Expenditure for the year has reduced by 3°A to £1.787.135 12020.. £1.834.316). and the Charity has net twing resowces before revaluations for the year of £322,947 comwed lo net ¢XrtgoirrfJ rewJrce5 of £484.869 in 2020. The result of this is that totsl funds have defftased to £3,706,940 12020.. £3.813.6371 at the year-end, Comprising £3,701.35812020: £3,775,989) unrestrtded and £5,58212020.. £37,648) restricted. The Balan¢8 She8t s￿)￿S nel cmnt assets of £111,68612020.. £110.598) whth represents an increase on the prior year of £1.088. Kenward belongs to a scheme The Pensws Trust Enty to Ihe defined benefft scheme was dos8d several years ago and now a defined contribution autwirolment scheme is in operatw. The"old scheme is underfunded which means thal an actuarial deficit must be ir￿lUded in the accounts: the provision for this ha$ decreased in the Jtar to £89.827 {2020'. £106.4331. The overall vthhdrawal liability remains much higher, but thi$ will only be thggered rf The Kenvrdrd Trust were to 7Mthdraw frcrfn ts s¢hem* ¢ompl&tety. whi¢h it dogs not plan to do. R•s•rv•$ Poli¢y The Board of Trustees has reviewed the Reserves Polw of th8 Kenward Tru$l with regard to the CharilY$ current operatK)ns and its fulure plans. Particular attention and reference has been given to guidance provi¢Jed wilhin FRS 102, Charty Commission wblications RS3 and CC19 (Charity Reserves and Charities and Reserves, respectively) and Charity commissi￿ GUIdar￿ OG43 (Charity Income Reserves). The Board of Trustges has agreed a reserve5 policy equivalent lo three mMths of salarie5 and on costs. For the financial yew. 1st April 2020 to 31st Marth 2021. this was pr(4ected as £480.c￿0. While our liquid cash reserves have been below this level for the financial year, the Board of Trustees wll continue to be prepared lo $811 one or more of the Charitys freehold properties in order to generate Ihe apFKopriate level of IiquKI funds. Page 9 The Kenward Trust ¢c*mpany limited by guarantee). Trustees. report (continued) for th• y•ar •nd•d 31 Mw¢h 2021 Stfucture. Governan￿ & Managem•nt G•v•rnlng Do¢umgnl The Kenward Trust is a charilable company limit&J by guarantee. incorporated on 1st February 2012 and registered with the Charity Commission on 21sl March 2012. The Company took over.delivery of seNices.and ownership of property from The Kenward Trust Fund IcharTty number 265394) on 1st A￿.12012. The Kenward Tnjsl Fund was registered as a ¢hwty ￿ 27th M8r¢h 1973 8rn1 has been g0Vem￿ by ils Tru$l Deed. dated 24th May 1972. On in(x)rporatron. thg lundamenlal elements of the Trust Deed were removed from the Ch8rity Register on 9th January 2015. Therefore. Ihe Charity remans governed by the vision. purpose and Intent￿nS of the founding trustees", as now set out in Ihe Articles. Membership is cpen to indiwdu* or oryanisations that appty ts the.Charity an¢J are approved by the Trustees. There are currenlly eteven membef5 (the Directors￿ruStees cl the Charity), each of whom agreedto contribute £10 in the event of the Chèrity wirNJing up. Appolntm•nt of Trust••s The Articles of Association {Artides) prowde that the Board of Trustee5 may be con5titvted of a minimum of three Tfuslees, but rK) more than twelve. For Ihe purposes of the Companies Act 2006, Trustees of the Charity are also t1ire¢tors of the Company. In a¢¢ordanc& ￿1h Ih8 Artid8s. on aprx)intrnent. TTustse$ become members of the Company. Under the requirements of the Artides, any person apFws from financlng acllvltles Cash infiows from new trfjrrowry Repawnents of borr04¥ing 50.000 (33.785) 394.764 Net cash provlded by financlng acti¥iti•s 16.215 394.764 Chary In ¢ash and ush •qulval•nts in the yoar Cash and Cash equivalents at Ihe beginning of ￿ar 107.642 1135,6581 321,3C(I 185.642 Cash and cash equfvalents at the end of the year 293.284 185.642 The notes on page$ 21 to 48 fonn part of these fmanaal statements The Kenward Trust {A ¢ompany limited by guarant••) Note$ to financial slateinents lor thè yth?r end•d 31 March 2021 A¢¢ountlng poll¢les 1.1 Basls of pr•p4ratlon ol financial stst•mfbts The financial statements have been Prepared in accordance wilh the chali1￿ SORP (FRS 1021- Accounting and Reporb"ng by Chanties.. Stalemenl of Recommended Practrce applicable lo charities preparing their accounts in acCOrdar￿ with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) leffectNe 1 January 2019). the Financial ReFK)rting Stsndard applicable in the UK and Rèpublic of Ireland {FRS 102) and the Companies Act 2Cth. The Kenward Trust me6ts the definilion of a public benefit entity under FRS 102. Assets and liabilities are initially recc¥Jnised at histr*ical cost or transaction vakje unless othenvise ststed in the relevant accounting polw. The Consolidaied stalemenl of ffin￿da1 at#fvitles {SOFA} and Consolidated balance sheet consolidate the finanoal statements of the Charity and its subsidiary undertaking. The results of the subsidiary are ¢onsolvJated ￿ a lino by basis. The Charity has tsken advantage of the exempt*)n allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of financial activities in these financial statement5. 12 Fund accountlng General funds are unrestricted funds whith a￿ available for use at the discretion of th8 Trustees in furtherance of the general obJ"eclNes of the Group and which have not be.en designatsd for other purposes. Designated funds comprise unreslricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each 'designated fund is set in the notes to Ihe financial statements. Restricted funds are funds which are to be used in accordance with speufic restn"cli¢Ms imposed by dor￿[5 or which have teen raised by the Group for parti(JJlar purposes. The costs of raising and administering such lurKIs are charged against the speufic fund. The aim and use of each restricted furKI is sel out in the Th)tes lo the finanual ststemet)ts. Investment income, gains aThJ losses are allocate(i to the appropriate fund. 1.3 In¢ome All income is recognised once ihe Charity has entiuemenl to the income. it is prob8blfr that the income wll be rewved and the amwnl of income receivable can be measured reliably. Grants are included in the Consolidaled statement of finanual activilies on a receivable basia. The balance of income re￿Ved for s￿riC purposes but not expended during the period is shown in the relevant lunds on the Balance sheet. Where income is received in advance of entitlement of receipt. its ￿Cognition is deferred and induded in uedilor5 as deferre¢J income. Where enlitlemenl ￿CurS before In￿Me is ￿eeNed. the income is acrnjed. Other income is reeognised in the period in it is receivable. and to the extent the goods have been provided or on compktion of the seryice. Page 21 Th• K•nward Trust {A Gompany limit•d by guarant••) Note$ to the fm¥n¢lal $tsl•ments for the year ended 31 Morch 2021 Accountlng polici•s Iconllnu•dl 1A Exp•ndlturn Expendiiure is recognised once Ihere is a legal or constru¢tive obli9ation to transfer economi¢ benefil lo a third party. it wobable that a transfer of •conomic benefrts wll be required in settlement and" the amtxjnl of the obligation can be measured reliably. Expenditure is dassified by activity. The costs of each activty are made up of the told of direct costs and shar&J costs. including Support C051s involved in undertaking each actiwty. Direcl costs attriiNJtabfe to a single a¢livty are allo¢aled directly to that actiwty. Shared costs whith ¢ontribule to MO￿ than w adivTr"ty and support costs which are r￿1 attributable lo a single ac11￿ty are apFwrtK)nek value At 31 March 2021 5,000 Al 31 March 2020 5.000 14. Stock* Group 2021 Group 2020 Charity 2021 Charity 2020 Fintshed goods and goods for resale 14.125 14.550 13.399 13,400 15. D•btors Group 2021 Group 2020 Charity 2021 Charity 2020 Du• within on• y••r Trade debloTS 57215 78,560 52.147 172.$11 13.128 95.416 72,175 174,313 13,139 109,280 Am¢)unts owed by group undwtakings Other deblo Prepawn￿$ and a¢¢n￿d inc¢)me 13,137 16.514 114,539 166.414 209.613 333.202 368,907 Page 39 The Kemvard Trnst IA cornpany limited by guarantm) Not•s.to tho financlal sLitwMnts . foT the year ended 31 March 2021 Creditors: Amounts falling due within one year Group 2021 GfOUP 2020 Charity 2021 Charity 2020 Bank loan$ Othgr loans Trade creditors Other laxation and so¢i81 s¢¢urity Pension fvnd loan payaL￿e Other creditors 34.137 109.832 19.317 11.927 5.981 130.943 33.172 115,266 42.595 12.233 8.710 87,231 34.137 102.749 19,317 11.927 5.670 129.856 33.172 106,794 39,131 12.233 6.471 85.667 Accruals and deferred inc(¥ne . 362.137 299.207 303.656 283.468 Group 2021 GTOUP . 2020 Charlty 2021 Charity 2020 Deferred inwme at 1 April 2020 Resour￿ deferred duTThJ the >ear kniounts released from prevK)us perK*ts 20.474 58.359 (20.474) 11.090 20,474 (11,090) 20.474 58.359 {20.474) 11.090 20.474 {11,0901 58.359 20.474 58.359 20.474 17. CredltorB: Am¢Junts falllng due after more than one ye•r Group 2021 Group 2020 . Charlty 2021 Charity 2020 Other loans 1,047.664 1,082,414 1.047.664 1,082,414 The aggregate amount of iiabilit*s pay9￿ or repayable whdly or in part morè than five ￿ar$ after the repO￿r￿j dale 1$: Group 2021 Group 2020 Charity 2021 Charity 2020 Payalle or repayable by inslalments 825.444 898.477 825.444 898,477 The amounts disdosed above relaie lo a sirKJle loan. The loan is repayable up to December 2042 and incurs interest at a rate of 2.75% above base rale. The loan is secured against the Charitys property. P•Je 40 Th? Kenward Trust {A Company Ilmited by guarante¢ Not•s to the financlal st•lements for the y•ar ended 31 March 2021 Slat•ment of funds Stslom•Trt of fvnds- ¢urr•nl y•ar' Bal•n¢o 41 31 March 2021 Balan¢e al 1 Aprll 2020 Transfers Inl¢)ut Galnsl (Losses) Income Eyndlture Unr•strict•d funds Deslgnated funds Land and buildings 3.640.192 216.250 3.856.442 General funds Flxed asset fund Free reserves Penston fund serve 110.008 132.222 (27.289) 1.3S5.687 11.629.195) 82,719 1141.8891 1603)_ (106.4331 16.606 189.8271 135.797 1.355.687 11,639.878) 1603) 1148,997) Total Unrestrict•d funds 3.775.989 1.355.687 11.639.878) 1603) 216250 3.707.445 . Page41 Th¢ Kenward Trust {A Company limited by guarantee) ' Notes to th• finandal sLil•m•nts for lh• ￿ar •nd•d 31 March 2021 18. Stat*m•nt of funds (contlnued) Balan¢• at 31 Mar¢h 2021 Balan￿ al 1 Aprll 2020 Tran$f• Inlout Gainsl ILo$s•s) In¢om¢ Eyndlturn Resirlcted funds RESET Youthlcommunit 10,169 (19.238) 27.500 128.103) KIP- Think Drff8fenty Kent Communty Foundation 19.388 119.388) 9.179 19.179) 16.586) Ard*ry Project Think DIfferen￿Y Film "Therapeutic CoNwnunity . KCC Move On 301 110110 17,719) 5.281 35.81S 8.151 6.991 (35,815) 18.151) (6.991) 37.648 108.501 1141.170) 603 5.582 Total of funds 3.813.637 1.464.188 (1.781.IM81 216.250 3.713.027 Page 42 The Kemvard Trust (A company limited by guarantee) N¢)tes to th¥ financial statoments for the year end￿ 31 March 2021 . 18. Statemont of funds (continued) "Statemont of fund5 - prior y?ar Balar￿ al 31 March 2020 Balance at 1 Apn'l 2019 Transfers Vout Gainsl (Losses) Incomè . Expendiiure Vnr•stri¢t•d funds D•$lgnatod funds Land and buildings 4.075.618 1409.3261 126.1001 3.640.192 General funds Fixed asset luThJ Free reseThes Pension fvnd serve 106,004 239,203 4.004 430,258 110,008 132,222 1,154,$62 {1,691,8011 {129.000} 22.567 (106,433} 216207 1.154.562 . {1.669.2341 434.262 135.797 Total Unwestrict•d funds 4,291,825 1,154,562 {1,6692341 24,936 126,1001 3,775,989 Page 43 The Kenward Trust (A Company limited by guanntse) Noto$ to tho flnancial st•t•m•nts for Iho •nded 31 M•r¢h 2021 18. Stat•m•nt of funds l¢ontInu￿) Balance at 31 March 2020 Balance al 1 April 2019 Transfers inloul Gainsl (Losses) Inc*me Expenditu R•stricted funds RESET YouthlCommuNt y Servi KIP- Think Differenuy Kenward House Kent Community Found8tion OutdcK>r Gym Archery Project Think Differently Film 17.590 56.598 (6S.119) 9.069 6.612 28,520. <35,132) 15.251 {21.211> (2.619} 2.619 (40.821) 9,179 10.(MX) 9.516 (10.0001 (2.936} 1180) 6.400 25,0 (12.0(Kl) 13.WO 32.781 194.885 (165.082> (24.936) 37,648 Totsl •f funds 4.324.606 1.349.447 (1.834.316) 126.100) 3.813.637 RESET- Amounts s80Jr8d from The B*3 Lottery on a phased 5 ￿ar programme, to be paid quarterty. to provide a volunteer4ed mentor service to assist offenders and ex offenders resetue in the community. Youthlcommunlty Services - Amounts received from thal councils to providè inforrnation lo young people ab)ul al(*hol arKI substance misuse. YouThJ people are inwted lo site to connect wth adults wl)o have previousty been restdents. The fvnds are also used to provide out of hours suptx)rt to'hot-SPOts'. as directed by the local coun￿1$. using the services of Kenward staff. a dedicated consultant and staff membgrs. Thlnk Dlfferently- Think Differently is our secDndary school drug and alcohol education programme. We update young people and answer any questions on Ihe potential lifechanging consequences of drug. substance and alcohol misuse, ¢Jependency and antis(K#al behavi¢yJr. .Kenward House - A residentsl athhol and drugs recovery F￿leCt offeriry a supported, struCtu￿d pro9ramme for men in recovery fwm al¢ohol andlor drug misuse. Kont C¢)mmunlty Foundatlon - Fund$ provkled lo use a fundraiser and the business tum around plan. Outdoor Gym- Funds raised lo wrchase equipment for use by our benefirAaries. Archery project- Grant provided 85 Part of prcyect to use ar(*hery in supw)rting the charitable objeclNe5. Think Differentty film - Linked to our think drfferenlly proigct above except these fvnds are specifically for crealion of a film to help us edu¢ate wjung people. Land and Buildings - This represents our fixed asset balance less aiy subsequent depreciation. gains or losses and loans. Page 44 Th• Kenward Trust IA c¢xnpany limit•d by guarnn¢¢•) Notas to the financial statements for th8 year erKled 31 March 2021 19. Summary of funds Summary of funds- current year B•lanc• at 31 March 2021 B*lanee at 1 . Apvll 2020 Transfers Inloul Galnsl (Los￿) In¢ome Expendltur• De￿gnated funds Gener81 funds Restricted fvnds 3.640.192 135.797 37.648 216350 3.856.442 (148.9971 5,582 1,355.687 108.501 (1,639.878) (141.170) 16031 603 3.813.637 1.464.188 (1.781,048) 216250 3,713,027 Summary of funds- prlor y•ar Balance at 31 March 2020 Balanr* at 1 April 2019 . Transfers inloLrt Gain .{Losses) Inrm Exwndilure Designated funds General funds Restricted funds 4.075.618 216.207 32.781 (409.326) 434,262 (24.9361 {26.1c￿) 3,640.192 135.797 37.648 1.154.562 194,885 (1.669.234) . (165.082) 4,324.606 1,349.447 (1.834.316) {26.100) 3.813.637 20. Anatysls of not assets bel¥mn funds Analysis of not assots b•twwn funds- ￿T￿nI yoar Unrnstrl¢ted R•strfct•d fund$ "tunds 2021 2021 Total funds 2021 Tangl￿e fixed assets Intangible fixed assets Current assets Creditors due withn Jpar Credilors thJe in more than one ypar Provisions liabililies and charges 4.726.855 11,977 468.241 {362.137) {1.047.664) 189,827) 4,726,855 11.977 473.823 1362.1371 11,047.6641 (89.8271 5,582 Total 3,707,445 5,582 3,713.027 Page 45 Th• Kenward Trust IA company limil•d by guarantee) Notss to the financial stalernents for th• yw end¢d 31 March 2021 20. Analysls of n•t ass•ts b•tw••n funds (contlnu•d) Analysos of n•t ass•ts belw••n funds . prior year Total funds 2020 nds 2020 frjnds 2020 Tangible fixed assets Current assets 4,891,886 372.157 (299.207) 11.082,414) {106.433} 4.891.886 409.805 (299.2071 11.082.414) 1106.4331 37.648 Credilots due wilhin one year Creditors du¢ in more than one year Provisions for liabilities and charges T¢)tal 3.775.989. 37,648 3,B13,637 21. R•¢onclllatbon of net movement in furKl$ to net flow fr¢)m op•ratlng a¢tlvlll¢$ Group. 2021 Group 2020 Nel expenditure for the Jpar (as per Ststement of Financial A¢livits¥) 1316.860) (484.869} Adju$tm•nts for: DepreciatIc￿ charges knortisalion tharges Divmlends. interests and rents from investrnents Loss on the sale offixed assets Oecrea5e in stocks De¢reasellin¢rease) in debtors Increase in creditor5 Pension movement 96.931 4.932 11421 28,112 90.654 {62SI 245 43.199 11,965 {16.606} (96,5721 48.823 {43,942} Net cash used In operating activities {148.044) (486.286) 22. Analysls of cash and ¢a$h ¢qulval•nts Group 2021 Group 2020 Cash in hand 293.284 185.642 Page 46 Th8 Kemyard Trust (A company limited by guarantee) N¢)tOS to th• finan¢ial"statem•nts foT tho y•ar ond•d 31 March 2021 23. Analysi5 of changes in nel debt At1￿￿1 2020 Cash flows At 31 March 2021 Cash at bank and in harKI Debt due ￿thIn 1 ￿ar Debt due after 1 J*ar 185.fA2 {45.405) 11.082.414) 107.642 293.284 (50.6591 {96.064} ¥750 11.047,664} (942.177) 91,733 (850,4441 . 24. P•nsion ¢ommilm•nts The Charity is part of the Pensions Trust Growth Plan. hcmfever entry to this scheme was closed a number of years ago. This is a multi empbJEr defined benefft pension scheme. The assets of the scheme are held separatdy from those of the charity in an independenuy administered fund. It is not possible lo separately idenlfy the a￿ets and liabilrties of parti¢ipats"NJ erWjkJ￿rs on a consistent and reasonable basis. The fund is in defKit and if the charity was to withdraw from the scheme the Cost of withdrawal I￿1￿ have been £386,284 on 30 Sèpt8mbèr 2016. Th8 charity not plan to ￿thdraW from the scheme. A revised recovery plan took effect in April 2016 with new contributions. The re*Ats of this y8arfy update do not affect the defiat contributions due. Defiat ￿ntrIbutionS are due frorn April 2016 to 31 fvlarch 2025. wilh the amount incfeasing in April each year by 3%. The deficit eontributions due from April 2020 will be £22.731 per Jtar. The group operates a Defined benefft pension scheme. HNever. the S(*￿Me 18 a mumiple employer stheme and the unable to identify its share of the undedying assets ar￿ liabil￿es. A fijll actuarial valuation for Ihe scheme was carried out at 30 September 2017. This valuation showetj assets of £794.9m, liabilrties of £926.4m and a deficit of £131.5m. To eliminate this fun¢Jing S￿rtfall. the Trustee has asked the partic4pats.ng eMp￿0ye￿ to pay addib.tmal t￿nIn"but10ns lo the scheme. as shown above. 25. Operating lease commllments At 31 March 2021 the Group and the Charity had Commitments to make futu￿ minimum lease.payments under norKancellable operating leases as follows.. Group Group 2020 Charity 2021 Charlty 2020 Not later than 1 year Later than 1 year and not later Ihan 5 sEa 11.393 14.580 11.393 11,393 14,$80 11,393 11,393 25,973 11.393 25,973 Page 47 The Kenwa"rd Trust ' IA company Ilmit•d by guarantse} Not•$ to th• finan¢lal $tatem•nts lor th• ￿ar •nd•d 31 March 2021 26. R•lated party transa¢tlons During the year there were no transact*)ns12020: £Nill. 27. Prlnclpal subsldSarles The followng was a ￿b$4d￿Y Un￿erta￿.ng ofthe Chaiity. Nam• Company Reght•red office or principal Principal activity . numb•r place of buslnes8 Kenward Enterpr￿ Limited 10017029 Kenwartl House. Kenward Road. To provide a Yalding. Ma#1st￿8. Kent. ME18 commercial bener 6AH to the parent charity and its beneficiaries Class of Shares Holding Included in ¢onsolld•tion Ordinary 1(M)% Yes The finan￿al reSU￿S of Ihe sthidiwy frf.the >Ear were: Nam• In¢om• Exp•ndituro ProflUILos$> for th• year Not assfyts . . Kemvard Enterprises Limited (55.326) {26.9861 1157.763