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|||||Page|
|---|---|---|---|---|
|Governors'
Report||||1-7|
|Independent
Auditor's|Report||||
|Statement of Financial|Activities (Incorporating|the Income and Expenditure|Account)|12|
|Balance Sheet|||||
|Statement ofCash Flows|||||
|Notes to the Financial|Statements|||15—29|
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|Elected governors|Elected governors|The Rt Hon the Earl ofAylesford|(Chairman)||
|---|---|---|---|---|
|||The Rt Hon Viscount Daventry|||
|||Sir William
Dugdale
Bt|||
|||J Evans OBE|||
|||M C Fetherston-Dilke|||
|||Mrs N Hammett
(appointed
23 May 2022)|||
|||Mrs C Hopkinson|||
|||R Macpherson
(appointed
20 July 2022)|||
|||Mrs C Matthews
(appointed
25|January 2022)||
|||Mrs C Sawdon JP (resigned 2 November 2022)|||
|Ex-officio|governor|The Rt Revd The Lord Bishop of Birmingham||(retired 18October 2022)|
|Governors|nominated|M Adlington
(retired 20 July 2022)|||
|by Solihull|MBC|D Bell|||
|||Councillor A Burrow (appointed|17May 2022)||
|Master||The Revd K Lloyd-Roberts
(retired 30September 2022)|||
|Bailiff||Mrs SWoodman
ACA|||
|Care Manager||Mrs P Johal (until 24 December|2021)||
|||Mr S Blancaflor|||
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|Year Ended 30Ju|Year Ended 30Ju|ne 2022|ne 2022|||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|Charity registration||number||1146710||||||||
|Company|registration||number|07890553||||||||
|Registered|oNce|||Temple House||||||||
|||||Temple Balsall||||||||
|||||Knowle||||||||
|||||Solihull||||||||
|||||B93OAN||||||||
|Auditor||||Dafferns LLP||||||||
|||||Chartered
Accountants|||and Statutory|||Auditor||
|||||One Eastwood||||||||
|||||Harry Weston Road||||||||
|||||Binley Business|Park|||||||
|||||Coventry||||||||
|||||CV3 2UB||||||||
|Bankers||||HSBC Bank pic||||||||
|||||130New Street||||||||
|||||Birmingham||||||||
|||||B24JU||||||||
|Solicitors||||Wright Hassall|LLP|||||||
|||||Olympus
Avenue||||||||
|||||Leamington
Spa||||||||
|||||Warwickshire||||||||
|||||CV34 6BF||||||||
|Investment|managers|||Sarasin & Partners||LLP||||||
|||||Juxon House||||||||
|||||100St. Paul's Churchyard||||||||
|||||London||||||||
|||||EC4M 8BU||||||||
|||||Property
Income Trust for Charities||||||||
|||||Mayfair Capital|investment|||Management|||Limited|
|||||55 Wells Street||||||||
|||||London||||||||
|||||WIT 3PT||||||||
|||||Charities
Property||Fund||||||
|||||Savills Investment||Management||||||
|||||33 Margaret Street||||||||
|||||London||||||||
|||||WIG OJD||||||||
|||||CCLA Investment||Management|||Limited|||
|||||Senator House||||||||
|||||85Queen Victoria||Street||||||
|||||London||||||||
|||||EC4V4ET||||||||
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|Year Ended 30J|u|ne 202|2||||||
|---|---|---|---|---|---|---|---|---|
||||||||Total|Total|
|||||Unrestricted|Restricted|Endowment|funds|funds|
||||Note|funds|fundsf|funds|2022|2021|
|Income from:|||||||||
|Donations
and legacies||||25,676|12,999||38,675|12,871|
|Charitable
activities||||1,333,187|||1,333,187|1,547,861|
|Other trading
activities||||1,085|||1,085|36|
|Investments||||190,473||123,608|314,081|304,561|
|Other income||||96,658|||96,658|110,324|
|Allocated to income||from|||||||
|unapplied
total return||||123,608||(123,608)|||
|Total income||||1,770,687|12,999||1,783,686|1,975,653|
|Expenditure
on:|||||||||
|Raising funds —property|||||||||
|management|||10|(214,939)|(1,800)||(216,739)|(181,995)|
|Charitable
activities|||11|(1,448,407)|(3,861)||(1,452,268)|(1,389,141)|
|Total expenditure||||(1,663,346)|(5,661)||(1,669,007)|(1,571,136)|
|Net income/(expenditure)|||||||||
|before investment||gains||107,341|7.338||114,679|404,517|
|and losses|||||||||
|Net gains/(losses)|on||19,||||||
|investments|||20|(113,941)||(231,886)|(345,827)|3,626,996|
|Net income/(expenditure)
after losses on||||(6,600)|7,338|(231,886)|(231,148)|4,031,513|
|investments|||||||||
|Transfers
between||funds||12,095|(12,095)||||
|Net movement
in|funds||25|5,495|(4,757)|(231,886)|(231,148)|4,031,513|
|Reconciliation
of|funds:||||||||
|Total funds brought||forward|25|3,327,084|26,521|18,732,958|22,086,563|18,055,050|
|Total funds carried|||25|3,332,579|21,764|18,501,072|21,855,415|22,086,563|
|forward|||||||||
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||||Note|2022|2021f|
|---|---|---|---|---|---|
|Cash flow from operating|activities||27|(238,949)|189,547|
|Net cash flow from operating||activities||(238,949)|189,547|
|Cash flow from investing|activities|||||
|Tangible fixed assets acquired||||(68,430)|(75,132)|
|Investments
acquired|||||(425,306)|
|Investments
sold|||||225,306|
|Interest received||||2,133|199|
|Dividends
received||||163,877|167,686|
|Rents received from investment||properties||148,071|136,676|
|Net cash flow from investing||activities||245,651|29,429|
|Net increase
in cash and cash equivalents||||6,702|218,976|
|Cash and cash equivalents|at|1 July 2021||1,345,960|1,126,984|
|Cash and cash equivalents|at|30June 2022||1,352,662|1,345,960|
|Cash a.nd cash equivalents|consist of:|||||
|Cash at bank and
in hand||||1,352,662|1,345,960|
|Cash and cash equivalents|at|30June 2022||1,352,662|1,345,960|
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|||2022|2021|
|---|---|---|---|
|Residential|care|1,196,476|1,400,191|
|Sheltered|accommodation|64,276|80,899|
|Respite care||62,551|43,648|
|Domiciliary|care|6,638|20,071|
|Other income||3,246|3,053|
|||1,333,187|1,547,861|
|||2022|2021|
|---|---|---|---|
|Dividend|and interest income|166,010|167,885|
|Rental income||148,071|136,676|
|||314,081|304,561|
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|||||||||Endowment|Unapplied|Permanent|
|---|---|---|---|---|---|---|---|---|---|---|
|||||||||for|total|endowment|
|||||||||investment|return|investments|
|||||||||E|f.||
|At 1 July 2021||||||||2,276,462|2,069,996|4,346,458|
|Movements|||||||||||
|Investment|income||||||||123,608|123,608|
|Gains
/ (losses)|||||||||(231,886)|(231,886)|
||||||||||(108,278)|(106,873)|
|Unapplied|total|return allocated||to income|||||(123,608)|(123,608)|
|Unapplied|total|return allocated||to investment||to|||||
|maintain
capital||value||||||75,000|(75,000)||
|Net movement||in the reporting||period||||75,000|(306,886)|(231,886)|
|Total value|of permanent||endowment||investments||at||||
|30June 2022||||||||2,351,462|1,763,110|4,114,572|
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|nalysis ofexp|enditure
on charita|ble
activities||||
|---|---|---|---|---|---|
|||Activities||||
|||undertaken|Support|Total|Total|
|||directly|costs|2022|2021|
||||f.|f,||
|Care home||||||
|Provision ofcare services||1,209,003|124,379|1,333,382|1,260,649|
|Routine maintenance||66,016||66,016|64,167|
|Major repairs||8,580||8,580|12,632|
|||1,283,600|124,379|1,407,978|1,337,448|
|Support for:||||||
|St Mary's Church||32,909||32,909|38,065|
|Lady Katherine|Leveson School|11,381||11,381|13,628|
|||1,327,889|124,379|1,452,268|1,389,141|
##
|upport c|osts|||
|---|---|---|---|
|||2022|2021|
|||E||
|Master's|salary (part)|13,828|13,294|
|Management||54,706|44,559|
|Administration||8,728|10,462|
|Insurance||26,513|20,800|
|Governance (see note 13)||20,604|22,411|
|||124,379|111,526|
|overnanc|e costs|||
|||2022|2021|
|Audit and|accountancy|14,100|14,100|
|Property|valuation fees||4,500|
|Bailiff's salary (part)||6,504|3,811|
|||20,604|22,411|
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|||Properties||Other||
|---|---|---|---|---|---|
|||and|Care home|charitable||
|||investments|activities|activities
f|Total|
|Income:||||||
|Donations
and legacies||1,800|8,049|28,826|38,675|
|Rental and other||||||
|investment
income||314,081|||314,081|
|Charitable
activities|||1,333,187||1,333,187|
|Other income||4,635|93,108||97,743|
|Total income||320,516|1,434,345|28,826|1,783,686|
|Expenditure:||||||
|Raising funds —property||||||
|management||(216,739)|||(216,739)|
|Charitable
activities|||1,407,978|||
|Total expenditure||(216,739)|(1,407,978)|(44,290)|(1,669,007)|
|Net income||103,777|26,366|(15,464)|114,679|
|Notional
rent payable|by|||||
|care home||216,409|(216,409)|||
|Total||320,186|(190,043)|(15,464)|114,679|
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||||||2022||2021||
|---|---|---|---|---|---|---|---|---|
|Bailiff, Master and Care||Manager||||3||3|
|Care assistants,|kitchen,|manual|and other administration|staff||41||45|
|||||||44||48|
|Total staff costs and employee
benefits were as|follows:||
|---|---|---|
||2022|2021|
||P||
|Wages and salaries|976,545|961,196|
|Social security costs|54,102|48,726|
|Pension costs|18,011|15,093|
||1,048,658|1,025,015|
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|Tangible fixed assets|||||
|---|---|---|---|---|
||Care home|Fixtures|||
||and related|and|Motor||
||buildings|fittings|vehicles|Total|
|Cost or valuation:|||||
|At 1 July 2021|3,925,000|681,406|25,000|4,631,406|
|Additions
Disposals||68,430
(37,688)||68,430
~37,888)|
|At 30June 2022|3,925,000|712,148|25,000|4,662,148|
|Depreciation:|||||
|At 1 July 2021||469,415|25,000|494,415|
|Charge for the year||53,792||53,792|
|Eliminated
on disposals||(36,394)||(36,394)|
|At 30June 2022||486,813|25,000|511,813|
|Net book value:|||||
|At 30June 2022|3,925,000|225,335||4,150,335|
|At 30June 2021|3,925,000|211,991||4,136,991|
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|Fixed a|sse|t investments|||||
|---|---|---|---|---|---|---|
||||Permanent|Permanent|Unrestricted||
||||endowment|endowment|fund||
||||properties|investments|investments|Total|
||||f.||||
|Valuation|||||||
|At 1 July|2021||10,461,500|4,346,458|1,296,585|16,104,543|
|Additions|||||||
|Disposals|||||||
|Revaluation|||||||
|Change|in|market value||(231,886)|(97,120)|(329,006)|
|At 30June||2022|10,461,500|4,114,572|1,199,465|15,775,537|
|Investments||at fair value|comprise:||||
||||||2022|2021|
|||||||f.|
|Investment||properties|||10,461,500|10,461,500|
|Property|trusts||||438,197|371,717|
|Income|and growth funds||||4,875,840|5,271,325|
||||||15,775,537|16,104,543|
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|21|Stocks||||||
|---|---|---|---|---|---|---|
||||||2022|2021|
||Food, cleaning||and laundry||1,854|1,630|
||||||1,854|1,630|
|22|Debtors||||||
||||||2022|2021|
|||||||'E|
||Residents'|contribution||arrears|9,330|8,092|
||Rent arrears||||43,938|21,034|
||Prepayments||and accrued income||46,935|35,966|
||Other debtors||||19,142|20,032|
||||||119,345|85,124|
|23|Creditors:|amounts||falling due within one year|||
|Creditors: amounts
|falling due within one year|||
|---|---|---|---|
|||2022|2021|
|Trade creditors||61,574|70,917|
|Other tax and social security||16,964|4,916|
|Accruals||156,109|196,116|
|Other creditors||108,433|127,215|
|Residents'
contribution|in advance|57,839|63,024|
|Related
party creditor|(see note 31)|3,930|3,714|
|||404,849|465,039|
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||2022|2021|
|---|---|---|
|Not later than one year|5,515|5,660|
|Later than one and not later than five years|20,089|20,852|
|Later than five years|9,108|13,860|
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|Fund reco
Restricted|nciliation
funds||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||Balance|||||||||||
|||at1 July|||||||Gains I||Balance at||
|||2021
Income||Expenditure||Transfers|||(losses)|30June 2022|||
|Donation reserve||26,521|12,999||(5,661)||(12,095)|||||21,764|
|||26,521|12,999||(5,661)||(12,095)|||||21,764|
|Donations|reserve - represents
donations||received||less expenditure||incurred|in line|with donors'|wishes.|||
|Unrestricted|funds||||||||||||
|||Balance|||||||||Balance at||
|||at 1 July|||||||Unrealised||30|June|
|||2021
Income|||Expenditure||Transfers||Gains l||2022||
||||F||||||(losses)||||
||||||||||F||||
|Income and|||||||||||||
|expenditure|fund|1,719,411|1,770,687||(1,662,846)||12,095||(58,788)||1,780,559||
|Designated:|||||||||||||
|Property|||||||||||||
|improvements||850,000||||||||||850,000|
|Lady Cadbury|||||||||||||
|bequest||335,885|||||||(25,156)|||310,729|
|Barbara Leonard|||||||||||||
|bequest||194,434||||(500)|||(13,174)|||180,760|
|Major repair|reserve|227,354|||||||(16,823)|||210,531|
|||3,327,084|1,770,687||(1,663,346)||12,095||(113,942)||3,332,579||
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|||||||Allocated to|||
|---|---|---|---|---|---|---|---|---|
||||Balance at|||income from|||
||||1July|||unapplied|Gains
/|Balance at|
||||2021f|Income||total return|(losses)|30June 2022
f.|
|Endowment||Funds|18,732,958||123,608|(123,608)|(231,886)|18,501,072|
||||18,732,958||123,608|(123,608)|(231,886)|18,501,072|
|Analysis|of net||assets between|funds|||||
||||Permanent||Restricted||Unrestricted||
||||endowment|||funds|funds|Total|
|Fixed assets|||3,925,000||||225,335|4,150,335|
|Investments|||14,576,072||||1,199,465|15,775,537|
|Current|assets|||||21,764|2,312,628|2,334,392|
|Current|liabilities||||||(404,849)|(404,849)|
|Total|||18,501,072|||21,764|3,332,579|21,855,415|
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||||2022|2021|
|---|---|---|---|---|
|Net income for year|||(231,148)|4,031,513|
|Dividends
received|||(163,877)|(167,686)|
|Interest receivable|||(2133)|(199)|
|Rental income|||(148,071)|(136,676)|
|Depreciation
and impairment|oftangible|fixed assets|53,792|47,158|
|(Gains)/losses
on investments|||345,827|(581,996)|
|Revaluation
of investments||||(3,045,000)|
|Loss on disposal oftangible fixed assets|||1,294|2,560|
|(Increase)/decrease
in stock|||(224)|860|
|(Increase)/decrease
in debtors|||(34,220)|(7,727)|
|Increase/(decrease)
in creditors|||(60,189)|46,740|
|Net cash flow from operating|activities||(238,949)|189,547|
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