| Page | |
|---|---|
| Reportofthe Trustees | 1-7 |
| Reportofthelndependent Auditors | 8-11 |
| Consolidated StatementofFinancial Activities | 12 |
| Balance Sheet-Group and Charity | 13 |
| Consolidated Cash Flow Statement | 14 |
| Notes totheFinancial Statements | 15-46 |
12 July 2023
| FOR T | HEYEARENDED | 3IMARC | H 2022 | |||
|---|---|---|---|---|---|---|
| Total | Total | |||||
| Note | UnrestrictedDesignated FundsFunds tc |
Restricted Funds Ê |
Funds 2022t |
Funds 2021 € |
||
| INCOME FROM: | ||||||
| Donations | 4 | 3,638 | 3,638 | 5,426 | ||
| Charitable activities | 6 | 13,850,783 | 13,850,783 14,231,671 |
|||
| Other trading activities | 59,038 | 59,038 | 43,109 | |||
| lnvestment income | 5 | 14,811 | 14,811 | 13,140 | ||
| Totaloperatingincome | 13,924,6323,638 | 13,928,27014,293,346 | ||||
| EXPENDITURE ON: | ||||||
| Raising funds Charitable activities |
7 | 111,486 13,946,272 |
347,665 | 111,486105,789 14,293,93714,465,947 |
||
| Totaloperating expenditure | 14,057,758 | 347,665 | 14,405,42314,571,736 | |||
| Netexpenditure | (133,r26)(344,027) | (477,153) | (278,3e0) | |||
| Net gainsoninvestments | 9,295 | 9,295 | 121,413 | |||
| Transfers betweenfunds | 22 | (304,986) | 304,986 | |||
| Netmovementinfundsexcluding Pensionliability |
(428,817)(39,041) | (467,858) | (156,977) | |||
| Actuarial gains/(losses) on defined benefit pensionscheme 24 |
200,327 | 200,327(820,416) | ||||
| Net Movementinfunds | (228,4e0) | (39,041) | (267,531) | (977,393) | ||
| Totalfundsbrought forward | 23 | 636,662 | 634,499 | 35,359 | 1,306,520 | 2,283,913 |
| Totalfundscarried forward | 23 | 408,172 | 595,458 35,359 | 1,038,989 | 1,306,520 |
| Group | Group | Charity | Charity | ||
|---|---|---|---|---|---|
| Note | 2022 Ê |
2021 e |
2022 g |
2021t | |
| Fixedassets | |||||
| Tangibleassets | 15 | 1,560,019 | 1,685,272 | I ,552,616 | 1,658,321 |
| Less:CapitalGrant | 15 | (1,250,310) | (1,258,310) | (1,250,310) | (1,250,310) |
| lnvestments | 16 | 985,631 | 968,380 | 972,562 | 972,562 |
| 1,295,340 | 1,395,342 | 1,274,868 | 1,380,573 | ||
| Gurrentassets | |||||
| Stock | 17 | ||||
| Debtors | 19 | 3,708,155 | 3,372,460 | 3,307,821 | 3,100,853 |
| Cash atbank and inhand | 2,560,474 | 635,325 | 2,255,293 | 290,597 | |
| 6,268,629 | 4,007,785 | 5,563,114 | 3,391,450 | ||
| Liabilities | |||||
| Creditorsfallingduewithinoneyear | 20 | (5,037,670) | (2,102,793) | (4,320,424) | (1,424,774) |
| Netcurrentassets | 1,230,959 | 1,904,992 | 1,242,690 | 1,966,676 | |
| Netassetsexcluding | |||||
| pensionliability | 2,526,299 | 3,300,334 | 2,517,558 | 3,347,249 | |
| Definedbenefitpensionliability | 24 | (1,487,310) | (1,993,814) | (1,449,000) | (1,839,000) |
| Netassets | 1,038,989 | 1,306,520 | 1,068,558 | 1,508,249 | |
| Charityfunds | |||||
| Restrictedfunds | 21 | 35,359 | 35,359 | 3,827 | 3,827 |
| Unrestrictedfunds | 408,172 | 636,662 | 856,525 | 1,257,175 | |
| Designatedfunds | 22 | 595,458 | 634,499 | 208,206 | 247,247 |
| Totalaccumulatedfunds | 1,038,989 | 1,306,520 | 1,068,558 | 1,508,249 |
| 2022 | 2021 | |||
|---|---|---|---|---|
| Notes | f | â | ||
| Netcashflow from operatingactivities | 26 | 2,292,149 | (250,341) | |
| Gashflowsfrominvesting activities | ||||
| Payments to acquire tangiblefixedassets | (57,6771 | (136,028) | ||
| Proceeds from sale of tangiblefixedassets | 11,855 | |||
| Acquisitionoffixedasset investments | (416,455) | (740,747) | ||
| Proceeds from sale of investments | 419,563 | 690,040 | ||
| Deposits (to)/fromcashheld in investments | (11,064) | 50,483 | ||
| lnterest received | 14,811 | 13,140 | ||
| Netcash outflowfrominvesting activities | (50,822) | (111,257) | ||
| Repaymentof defined benefit pensionliability | (306,177) | |||
| Increase/(decrease) in cash | 27 | 1,925,149 | (361,5e8) |
| A summary of thefinancial activitiesunder | takenbyVibrance | is set out below: | |
|---|---|---|---|
| 2022 | 2021 | ||
| Ê | Ê | ||
| Total income Expenditure oncharitableactivities Expenditure on raisingfunds |
10,652,063 (11,214,754) |
11,251,464 (11,366,e15) |
|
| Defined Benefitpensiontiabitity | 24 | (562,6e1) 123,000 |
(115,451) (811,000) |
| Net movementinfunds Totalfundsbrought forward |
(43e,6e1) 1,508,249 |
(926,451) 2,434,700 |
|
| Totalfundscarried forward | 1,068,558 | 1,508,249 | |
| Representedby: | |||
| Restrictedfunds Unrestricted funds Designatedfunds |
23 23 23 |
3,827 856,525 208,206 |
3,827 1,257,175 247,247 |
| 1,068,558 | 1,508,249 |
| Yearto31March2022 | ||||
|---|---|---|---|---|
| Unrestricted | Designated | Restricted | Total | |
| 2022 | 2022 | 2022 | 2022 | |
| € | â | e | â | |
| Donations | 3,638 | 3,638 | ||
| 3,638 | 3,638 | |||
| Yearto31March2021 | ||||
| Unrestricted | Designated | Restricted | Total | |
| 2021 | 2021 | 202 1 |
2021 | |
| Ê | c | € | ||
| Donations | 5,426 | : | 5,426 | |
| 5,426 | 5,426 |
| Yearto31March2022 | ||||
|---|---|---|---|---|
| Unrestricted | Designated | Restricted | Total | |
| 2022 | 2022 | 2022 | 2022 | |
| lnvestmentincome | Ê 14,811 |
î | î | f, 14,811 |
| 14,811 | 14,811 | |||
| Yearto31 March2021 | ||||
| Unrestricted | Designated | Restricted | Total | |
| 2021 e |
2021 Ê |
2021I | 2021 f |
|
| lnvestmentincome | 13,140 | 13,140 | ||
| 13,140 | 13,140 |
| INCOME FROMCHARITABLE | ACTIVITIES | ||||
|---|---|---|---|---|---|
| Unrestricted 2022t |
DesignatedRestricted 2022 2022 €€ |
Total 2022 Ê |
Total 2021 e |
||
| Redbridge PCT/ONEL L.B. Redbridge Respite Care Essex County Council L.B.W,F. L.B.TowerHamlets Thurrock County Council L.B. Bromley L.B. Merton L.B. Newham(formerlyILF) Southend Rent Charges Wandsworth Haringey Other lncome |
808,301 3,462,679 4,261 2,087,719 685,813 634,154 224,289 138,379 292,263 650,538 170,928 1,265,411 321,447 2,697,059 407,542 |
808,301 3,462,679 4,261 2,087,719 685,813 634,154 224,289 138,379 292,263 650,538 170,928 1,265,411 321,447 2,697,059 407,542 |
635,707 3,629,501 5,486 2,482,654 762,726 526,261 147,820 136,995 331,971 492,201 169,683 895,750 550,566 2,374,765 1,089,585 |
||
| 13,850,783 | 13,850,783 | 14,231,671 |
| Yearto31March 2022 | ||
|---|---|---|
| Support Direct Gosts |
||
| Accommodation Based Community Based SelfDirected Support |
Gostslseelúofe9) 2022 2022 [Ê 8,254,0801,530,204 2,630,658437,201 1,223J93218,601 |
Total 2022 e 9,784,284 3,067,859 1,441,794 |
| Total | 12,107,931 2,186,006 | 14,293,937 |
| Yearto31March2021 | ||
|---|---|---|
| Support Direct Costs |
||
| Costs(See lVote 9/ 2021 2021 ÊÊ |
Total 2021 e |
|
| Accommodation Based Community Based SelfDirected Support |
8,243,6331,692,325 2,666,667483,521 'l,138,040241,761 |
9,935,958 3,1 50,188 1,379,801 |
| Total | 12,048,3402,417,607 | 14,465,947 |
| Yearto31Ma¡ch 2022 | ||||
|---|---|---|---|---|
| U nrestrictedDesig nated 2022 2022 ʀ |
Restricted 2022 E |
Total 2022 e |
||
| AccommodationBased | 9,540,919 | 243,365 | 9,784,284 | |
| Community Based | 2,998,326 | 69,533 | 3,067,859 | |
| Self DirectedSupport | 1,407,027 | 34,767 | 1,441,794 | |
| 13,946,272 | 347,66s | 14,293,937 |
| Yearto31March2021 | ||||
|---|---|---|---|---|
| U nrestrictedDesig nated 2021 2021 [[ |
Restricted 2021 Ê |
Total 2021f |
||
| AccommodationBased | 9,785,088 | 150,056 | 814 | 9,935,958 |
| Community Based | 3,107,315 | 42,873 | 3,150,188 | |
| Self DirectedSupport | 1,358,364 | 21,437 | 1,379,801 | |
| 14,250,767 | 214,366 | 814 | 14,465,947 |
| ANALYSIS OF GOVERNANCECOSTS | ||
|---|---|---|
| Total | Total | |
| 2022 | 2021 | |
| € | Ê | |
| Trustee meetings | 2,740 | 1,357 |
| Audit&accountancy fees | 124,074 | 122,145 |
| Legal andprofessional fees | 4,595 | 23,451 |
| Companysecretarialcosts | 13,200 | 4,425 |
| Support costs | 89,592 | 79,441 |
| 234,201 | 230,819 |
| Gost Type | Fundraising activities 2022 €Ê |
Gharitable activities 2022 |
Total allocated 2022 € |
|---|---|---|---|
| Staff costs Administration Premises TravelCosts |
143,089 71,096 1,544,825 426,996 |
143,089 71,096 1,544,825 426,996 |
|
| 2,186,006 | 2,186,006 | ||
| Yearto3lMarch2021 | |||
| Fundraising | Charitable | Total | |
| activities | activities | allocated | |
| 2021 | 2021 | 2021 | |
| Cost Type | e | c | € |
| Staff costs Administration Premises TravelCosts |
174,334 4,866 1,780,543 457,864 |
174,334 4,866 1,780,543 457,864 |
|
| 2,417,607 | 2,417,607 |
Manage |
ment charge |
|||
|---|---|---|---|---|
| 2022 | 2022 | 2021 | 2021 | |
| o/o | € | îlto | e | |
| Accommodation Based | 70 | 1,530,204 | 70 | 1,692,325 |
| Community Based | 20 | 437,201 | 20 | 483,521 |
| Self DirectedSupport | 10 | 218,601 | 10 | 241,761 |
| 100 | 2,186,006 | 100 | 2,417,607 |
| ANALYSISOFSTAFFCOSTS | ||
|---|---|---|
| 2022 | 2021 | |
| Ê | Ê | |
| Wages andsalaries | 9,389,688 | 10,337,252 |
| Socialsecurity costs | 742,990 | 778,552 |
| Otherpension costs | 298,849 | 309,462 |
| Agencystaff | 585,037 | 551,241 |
| II,016,564 | 11,976,507 |
| The num | ber ofemployees whoseannualemolume | nts wereÊ60,000 or more were: | |
|---|---|---|---|
| 2022 | 2021 | ||
| Ê60,000 e70,000 Ê80,000 |
-Ê69,999 -e79,999 -Ê89,999 |
Number 1 2 2 |
Number 1 3 |
| Ê90,000 | -[99,999 | 1 |
| The averagemonthlynumber of employees during the year was | ||
|---|---|---|
| 2022 | 2021 | |
| Number | Number | |
| Housing/care services/catering Support services |
433 15 |
445 14 |
| Management & administration | 9 | 13 |
| 457 | -:: |
| Movement in netfundsis stated after charging: | 2022 e |
2021 Ê |
|---|---|---|
| Auditorsremuneration Depreciation Operating lease charge |
46,365 155,325 309,447 |
49,814 171,333 295,330 |
| ANGIBLEFIXEDASSETS.G | ROUP | |||
|---|---|---|---|---|
| Freehold | Furniture,Motorvehicles | Total | ||
| Land and | equipment | |||
| buildings e |
etc.eÊ | € | ||
| Gost | ||||
| At1 April2021 | 2,257,051 | 970,006 | 475,099 | 3,702,156 |
| Additions | 57,677 | 57,677 | ||
| Disposals | (54,e76) | (54,e76) | ||
| At31March2022 | 2,257,051 | 1,027,683 | 420,123 | 3,704,857 |
| Depreciation | ||||
| At1April2021 | 747,500 | 934,791 | 334,593 | 2,016,884 |
| On disposals | (27,371) | (27,371) | ||
| Charge for theyear | 63,777 | 41,388 | 50,160 | 155,325 |
| At31March2022 | 811,277 | 976,179 | 357,382 | 2,144,838 |
| Netbook value | ||||
| At31March2022 | 1,445,774 | 51,504 | 62,741 | I,560,019 |
| At31March2021 | 1,509,551 | 35,215 | 140,506 | 1,685,272 |
| Freehold Land and |
Furniture,Motorvehicles equipment |
Furniture,Motorvehicles equipment |
Total | |
|---|---|---|---|---|
| Gost | buildings Ê |
etc.Êe | t | |
| At1April2021 Additions Disposals |
2,005,739 | 845,450 49,020 |
475,100_ (54,976) |
3,326,289 49,020 (54,e76) |
| At3lMarch2022 | 2,005,739 | 894,470 | 420,124 | 3,320,333 |
| Depreciation | ||||
| At1April2021 On disposals |
525,376 | 807,999 | 334,593 (27,371) |
1,667,968 (27,371) |
| Charge for the year | 40,675 | 36,285 | 50,160 | 127J20 |
| At31 March2022 | 566,051 | 844,294 | 357,382 | 1,767,717 |
| Net bookvalue | ||||
| At31March 2022 | l,43g,6gg | 50,196 | 62,742 | 1,552,616 |
| At31March2021 | 1,480,363 | 37,451 | 140,507 | 1,658,321 |
| INVESTMENTS. GROUP | ||
|---|---|---|
| 2022 | 2021 | |
| e | Ê | |
| Marketvalue, brought forward | 961,099 | 788,979 |
| Additions | 416,455 | 740,747 |
| Disposals | (419,563) | (6e0,040) |
| Realised(loss)/gain | (27,211) | 51,525 |
| Unrealisedgain | 36,50ô | 69,888 |
| Marketvalue, carried forward | 967,286 | 961,099 |
| Cash heldaspartofportfolio | 18,345 | 7,281 |
| Totalinvestments | 985,631 | 968,380 |
| Historical cost | 770,372 | 773,480 |
| Marketvalue analysedbytype ofinvestment | ||
| UKfixed interest | 495,528 | 496,885 |
| UKequities | 149,011 | 174,353 |
| Overseasequities | 322,747 | 285,907 |
| Property | 3,954 | |
| Cash | 18,345 | 7,281 |
| 985,631 | 968,380 | |
| INVESTMENTS-VIBRANCE | ||
| 2022 € |
2021t | |
| Cost, broughtforward | 562 972, |
562 972, |
| Additions | ||
| Disposals | ||
| Cost, carriedfonivard | 972,562 | 972,562 |
| Summarisedbalancesheetat 31March2022 | 2022 Êe |
2021 |
| Tangible fixed assets lnvestments Current assets Current liabilities Pension scheme liability |
5,992 985,631 978,309 (988,621) (38,310) |
968,380 905,751 (914,145) (154,814) |
| 943,001 | 805,172 | |
| Representedby: | ||
| General funds Designated funds Restrictedfunds Share capital |
524,209 387,252 31,532 8 |
386,280 387,252 31,532I |
| 943,001 | 805,172 | |
| Summarisedstatementoffinancialactivities for the periodended 31Ma¡ch2022 |
2022 Ê |
2021 e |
| lncome Expenditure Netgains on investments Gains/(losses) ondefinedbenefit pension scheme |
3,382,489 (3,331,282) 9,295 77,327 |
3,178,305 (3,332,254) 121,413 (e,416) |
| Surplus/(deficit) fortheperiod | 137,829 | (41,e52) |
| TheaccountsofVibrancePathwaysto summarised below: |
EmploymentCI | Cfor theper | iod ended31M | arch2022are | |
|---|---|---|---|---|---|
| Summarised balance sheetat31March | 2022 | 2022 e |
2021t | ||
| Tangiblefixed assets | 1,411 | 18,951 | |||
| Current assets | 34,045 | 13,608 | |||
| Currentliabilities | (648,840) | (597,430) | |||
| (613,384) | (564,871) | ||||
| Representedbyprofitandloss account | (613,384) | (564,871) | |||
| Summarisedprofitandlossaccount for the period ended31March2022 |
2022 E |
2021f | |||
| Turnover | 3,876 | ||||
| Cost of sales | (2,15e) | ||||
| Administrative expenses | (103,622) | (ee,e40) | |||
| Other income | 53,392 | 90,950 | |||
| Loss fortheperiod | (48,513) | (8,990) | |||
| 17. | STOCK | ||||
| Group | Group | Vibrance | Vibrance | ||
| 2022 | 2021 | 2022 | 2021 | ||
| € | Ê | e | Ê | ||
| Goods for sale | |||||
| I8. | FINANCIALINSTRUMENTS | ||||
| Group | Group | Vibrance | Vibrance | ||
| 2022 e |
2021t | 2022 Ê |
2021 â |
||
| Financial assetsmeasuredat amortised cost |
3,562,582 | 3,259,576 | 3,170,901 | 2,996,279 | |
| Financialliabilities measuredat | |||||
| amortisedcost | 4,831,8731,970,353 | 4,155,176 | 1,230,193 |
| 19. | DEBTORS | Group 2022 e |
Group 2021 I |
Vibrance 2022 Ê |
Vibrance 2021 Ê |
|---|---|---|---|---|---|
| Contract income due Loanstosubsidiary companies lnterest freestaffloans Other debtors Prepayments andaccruedincome |
2,470,0692,291,292 20,203 1,072,310 145,573 31,430 936,854 112,884 |
1,904,794 306,931 20,203 939,073 136,920 |
1,870,603 303,016 31,430 791,230 104,574 |
||
| 3,709,155 3,372,460 | 3,307,821 | 3,100,g53 | |||
| Amounts falling dueaftermore than one year: | |||||
| Group | Group | Vibrance | Vibrance | ||
| 2022 f |
2021 I |
2022 € |
2021 Ê |
||
| lnterest free staff loans | 10,26919,019 | 10,26918,018 | |||
| 20. | CREDITORS:AMOUNTSFALL | NcDUEtN ONEYEAR |
Group 2022 e |
Group 2021 Ê |
Vibrance 2022f |
| Trade creditors Charges-creditbalances Taxes and social security costs Other creditors Accruals anddeferredincome |
495,613 261,429 205,797 3,531,073 371,609 |
314,048 221,880 232,440 912,066 250,210 |
383,633 109,922 165,248 3,371,564 290,157 |
229,816 59,307 194,581 75'1,556 189,514 |
|
| Conduitfunds(see betow) | 172,149 | 172,149 | |||
| 5,037,670 2,102,793 | 4,320,424 | 1,424,774 |
| CONDUIT FUNDS | Group 2022I |
Group 2021t |
Vibrance 2022 € |
Vibrance 2021 Ê |
|---|---|---|---|---|
| Funds acquired on merger | 172,149 | 172,149 | ||
| Funds received | ||||
| Funds disbursed | ||||
| Balance carried forward | 172,149 | 172,149 |
| The incomefundsinclude restricted funds comp andgrantsheld ontrust forspecificpurposes: |
risingthe follow | ing unexpended balancesof do | ing unexpended balancesof do | ing unexpended balancesof do | nations |
|---|---|---|---|---|---|
| Movementinfunds | |||||
| Balance at1April |
lncoming Outgoing | Balanceat 3lMarch |
|||
| 2021 | 2022 | ||||
| e | Ê | € | Ê | ||
| LandlordContribution to officerefurbishment | 3,827 | 3,827 | |||
| Vibrancetotalrestricted funds | 3,827 | 3,827 | |||
| MentalHealth Services | 31,532 | 31,532 | |||
| Grouptotalrestricted funds | 35,359 | 35,359 |
| Movement in funds | Movement in funds | ||||
|---|---|---|---|---|---|
| Balance | lncoming | OutgoingTransfers | Balanceat | ||
| at1April | 31March | ||||
| 2021' | 2022 | ||||
| c | Ê | Ê | â | Ê | |
| Employment contracts | 84,499 | (17,537) | 22,907 | 89,869 | |
| Health &safety | 1,244 | (1,e02) | 658 | ||
| Clothing | (1,16r) | 1,161 | |||
| Recruitment&healthchecks | (10r ,317) | 101,317 | |||
| Residentparticipation/welfare | 17,064 | 3,638 | (1,55e) | 1,360 | 20,503 |
| Furniture replacement | 32,379 | (44,844) | 35,884 | 23,419 | |
| Training | 27,577 | (3e,020) | 11,443 | ||
| Housesmaintenance | 84,484 | (76,627) | 66,558 | 74,415 | |
| Marketing | (32,917) | 32,917 | |||
| Advocacy&user involvement | (30,781) | 30,781 | |||
| Vibrancetotaldesignatedfunds | 247,247 | 3,638 | (347,665) 304,986208,206 |
| Movement in funds | ||||
|---|---|---|---|---|
| Balance atIApril 2021 |
Incoming | OutgoingTransfers | Balanceat 3lMarch 2022 |
|
| Ê | f | s Ê |
Ê | |
| Vibrancetotal designated funds Sinking fund/dilapidations Service development |
247,247 37,252 350,000 |
3,638 | (347,665)304,986 | 208,206 37,252 350,000 |
| Grouptotaldesignated funds | 634,4993,638 | (347,665) 304,986 'r |
| General | Restricted | Designated | Total | |
|---|---|---|---|---|
| funds | funds | funds | ||
| € | e | € | t | |
| Fund balances at 31March 2022are | representedby: | |||
| Tangiblefixedassets lnvestments Current assets Creditors: amountsfallingdue within |
305,882 598,379 6,028,891 |
3,827 31,532 |
387,252 208,206 |
309,709 985,631 6,268,629 |
| one year Pensions Liability |
(5,037,670) (1,487,310) |
(5,037,670) (1,487,3101 |
||
| 408,172 35,359595,4581,038,989 | ||||
| General | Restricted | Designated | Total | |
| funds | funds | funds | ||
| € | € | Ê | f | |
| Fund balances at 31March2021 are | representedby: | |||
| Tangiblefixedassets | 423,135 | 3,827 | 426,962 | |
| lnvestments | 581,128 | 387,252 | 968,380 | |
| Current assets Creditors: amountsfallingdue within |
3,729,006 | 31,532 | 247,247 | 4,007,795 |
| oneyear Pensions Liability |
(2,102,793) (1,993,814) |
12,102,793ì, (1,993,914) |
||
| 636,662 35,359634,4991,306,520 |
| ANALYSIS OFNETASSETS BETW | EENFUNDS-VIBRANCE (CONTIN | EENFUNDS-VIBRANCE (CONTIN | EENFUNDS-VIBRANCE (CONTIN | UED) | |
|---|---|---|---|---|---|
| GeneralRestricted funds funds eʀ |
Designated funds |
Total e |
|||
| Fundbalances at 31 March 2022are | representedby: | ||||
| Tangiblefixed assets | 298,479 | 3,827 | 302,306 | ||
| lnvestments | 972,562 | 972,562 | |||
| Currentassets | 5,354,908 | 208,206 | 5,563,114 | ||
| Creditors:amounts fallingdue within | |||||
| one year | (4,320,424) | (4,320,4241 | |||
| PensionsLiability | (1,449,000) | (1,449,000) | |||
| 856,525 | 3,827208,2061,068,558 | ||||
| General | Restricted | Designated | Total | ||
| funds | , | funds | funds | ||
| € | Ê | Ê | € | ||
| Fundbalances at 31 March 2021are | representedby: | ||||
| Tangible fixed assets | 404,184 | 3,827 | 408,011 | ||
| lnvestments | 972,562 | 972,562 | |||
| Currentassets | 3,144,203 | 247,247 | 3,391,450 | ||
| Creditors: amounts fallingdue within | |||||
| oneyear | (1,424,774) | 11,424,7741 | |||
| PensionsLiability | (1,839,000) | (1,839,000) | |||
| 1,257,175 | 3,827247,2471,508,249 |
|RESENTVALUES OF DEFINED BENEFIT OBL
EFTNEDBENEFIT ASSET(L|ABlLlTy)|IGATION, FAIR VALUE|OFASSETS AND|
|---|---|---|
||31March2022|31March2021|
||(Ê000s)|(t000s)|
|Fair value of plan assets|11,312|10,652|
|Present value ofdefinedbenefit obligation|12,761|12,491|
|Surplus (deficit) inplan|(1,449)|(1,839)|
|Unrecognised surplus|||
|Defined benefitasset(liability)tobe recognised|(1,44e)|(1,83e)|
|Deferred tax|||
|Net defined benefitasset(liability)tobe recognised|(1,449)|(1,839)|
| Net defined benefitasset(liability)to berecognised_ Vibrance(above table) |
(1,44s) | (1,839) |
|---|---|---|
| Netdefinedbenefitasset(liability)to berecognised- HAIL (page 41) |
(38) | (155) |
| Net defined benefitasset(liability)tobe recognised- Group |
(1,487) | (r,ee4) |
| RECONCILIATION OF OPENINGAND CLOSINGBALANCESOFTHE OBLIGATION |
DEFINED BENEFIT |
|---|---|
| Periodended | |
| 3lMarch2022 | |
| (â000s) | |
| Defined benefitobligationatstartofperiod | 12,491 |
| Current service cost | |
| Expenses | 13 |
| lnterest expense | 309 |
| Membercontributions | |
| Actuarial losses(gains)due to scheme experience | 516 |
| Actuarial losses (gains)dueto changesindemograph¡cassumptions | (185) |
| Actuarial losses(gains)due to changesinfinancial assumptions | (201) |
| Benefits paidand expenses | (182) |
| Liabilitiesacquiredin abusinesscombination | |
| Liabilitiesextinguishedonsettlements | |
| Losses (gains) oncurtailments | |
| Losses (gains)due to benefit changes | |
| Exchange ratechanges | |
| Defined benefitobligationatendofperiod | 12,761 |
| Periodended | |
|---|---|
| 31March2022 | |
| (Ê000s) | |
| Fairvalueofplan assetsatstartof period | 10,652 |
| lnterestincome | 267 |
| Experience onplan assets (excluding amounts includedininterest¡ncome)-gain(loss) | 253 |
| Employercontributions | 322 |
| Membercontributions | |
| Benefits paidand expenses | (182) |
| Assets acquiredina business combination | |
| Assets distributedonsettlements | |
| Exchangerate changes | |
| Fairvalueofplan assetsatend ofperiod | 11,312 |
| DEFINEDBENEFIT COSTS RECOGNISEDINSTATEMENT OF F | INANCIAL ACTIVITIES |
|---|---|
| PeriodfromIApril | |
| 2021fo31March2022 | |
| (t000s) | |
| Current service costs | |
| Expenses | 13 |
| Net interest expense | 42 |
| Losses (gains) on businesscombinations | |
| Losses (gains) on setflements | |
| Losses (gains) oncurtailments | |
| Losses (gains) duetobenefit changes | |
| Defined benefitcostsrecognised instatement ofFinancial Activities | 55 |
| DEFINEDBENEFIT COSTS RECOGNISEDINSTATEMENT OF FINANCIAL | ACTIVITIES |
|---|---|
| PeriodfromIApril | |
| 2021to31March2022 | |
| (Ê000s) | |
| Experience on planassets(excludingamounts includedin net interest cost)-gain(loss) | 253 |
| Experience gainsandlosses arising onthe planliabilities-gain(loss) | (516) |
| Effectofchangesinthedemographic assumptionsunderlying the presentvalueof the defined benefìt obligation-gain(loss) lB5 |
|
| Effectofchangesinthefinancial assumptionsunderlying the presentvalueof the defined benefit obligation-gain(loss) |
201 |
| Totalacluarialgainsandlosses (before restrictiondueto someofthesurplusnot being Recognisable) benefit obligation-gain(loss) |
123 |
| Effectof changesintheamount of surplusthatisnot recoverable(excludingamountsincluded in net interestcost)benefit obligation-gain(loss) |
|
| Totalamountrecognisedinstatement ofFinancialActivities-gain(loss) | 123 |
| SETS | ||
|---|---|---|
| 3lMarch 2022 | 31 March2021 | |
| (t000s) | (Ê000s) | |
| GlobalEquity | 2,171 | r,698 |
| AbsoluteReturn | 454 | 588 |
| Distressed Opportunities | 405 | 308 |
| CreditRelativeValue | 376 | 335 |
| Alternative RiskPremia | 373 | 401 |
| Fundof HedgeFunds | 1 | |
| EmergingMarkets Debt | 329 | 430 |
| Risk Sharing | 372 | 388 |
| Insurance-Linked Securities | 264 | 256 |
| Property | 305 | 221 |
| lnfrastructure | 806 | 710 |
| PrivateDebt | 290 | 254 |
| Opportunistic llliquid Credit | 380 | 271 |
| High Yield | 97 | 319 |
| Opportunistic Credit | 4Q | 292 |
| Cash | 38 | |
| Corporate BondFund | 755 | 629 |
| LiquidCredit | 127 | |
| Long Lease Propedy | 291 | 209 |
| Securedlncome | 422 | 443 |
| Liability Driven lnvestment | 3,157 | 2,707 |
| CurrencyHedging | (44) | |
| NetCurrent Assets | 31 | 65 |
| Totalassets | 11,312 | 10,652 |
| Number | Total earnings (Ê'000sp.a) |
AverageAge (unweighted) |
|
|---|---|---|---|
| Males | 5 | 254 | 54 |
| Females | 9 | 297 | 49 |
| Total | 14 | 551 | 51 |
| Number | Pensions (f'000sp.a) |
AverageAge (unweighted) |
||
|---|---|---|---|---|
| Males | 15 | 18 | 56 | |
| Females | 64 | 108 | 53 | |
| Total | -70 | 126 | 53 |
| Number | Pensions (Ê'000sp.a) |
AverageAge (unweighted) |
|
|---|---|---|---|
| Males | 14 | 26 | 63 |
| Females | 27 | 67 | 68 |
| Total | 41 | 93 | 66 |
| Return on planassets (excluding amounts includedin net interest cost) | (543) |
|---|---|
| lmpact ofchangesinshare ofassets | 796 |
| Experienceon plan assets(excludi ngamounts includedin net interest cost)- gain(loss) | 253 |
| 3lMarch | 31 March | 3lMarch | |
|---|---|---|---|
| 2022 | 2021 | 2020 | |
| (8000s) | (€000s) | (t000s) | |
| Presentvalueof provision | 38 | 155 | 184 |
| RECONCILIATIONOF OPENINGAND CLOSINGPROVISIONS | |||
| Period | Period | ||
| Ending 3lMarch |
Ending 31March |
||
| 2022 | 2021 | ||
| ([000s) | (t000s) | ||
| Provision atstartof period | 155 | 184 | |
| Unwinding ofthediscountfactor(interest expense) | 1 | 4 | |
| Deficitcontributionpaid | (3e) | (38) | |
| Re-measurements-impactofany changein | assumptions | (1) | 5 |
| Re-measurements-amendmentsto the contribution schedule |
(78) | ||
| Provision at endofperiod | 38 | 155 | |
| INCOMEANDEXPENDITUREIMPACT | |||
| Period | Period | ||
| Ending 3lMarch |
Ending 31March |
||
| 2022 | 2021 | ||
| (€000s) | (Ê000s) | ||
| lnterest expense | 1 | 4 | |
| Re-measurements-impact of anychangein | assumptions | (1) | 5 |
| Re-measurements-amendmentstothecontribution schedule |
(78) | ||
| Contributions paid in respectoffutureservice | |||
| Costs recognisedinincome and expenditure account | (78) | I |
| ASSUMPTIONS | |||
|---|---|---|---|
| 31March | 3lMarch | 3lMarch | |
| 2022 | 2021 | 2020 | |
| oloPèÍ | o/oPêr | o/oPêi | |
| annum | annum | annum | |
| Rate ofdiscount | 2.55 | 0.66 | 2.53 |
| TIONS SCHE | DULE | |||
|---|---|---|---|---|
| ye tll enolng Year1 |
31March 2o2z (Êooos) 14 |
31March 2021 (Eooos) 39 |
3lMarch 2o2o (€ooos) 38 |
|
| Year2 | 14 | 40 | 39 | |
| Year3 | 12 | 42 | 40 | |
| Year4 | - | 36 | 42 | |
| Year5 | 36 | |||
| Year6 | ||||
| Year7 | ||||
| YearI | ||||
| Year9 | ||||
| Year10 | ||||
| Year11 | - | |||
| Year12 | ||||
| Year13 | - | |||
| Year14 | ||||
| Year15 | ||||
| Year16 | ||||
| Year17 | ||||
| Year18 | - | |||
| Year19 | ||||
| Year20 |
4 active member |
s withvibranc |
epayingvariabl |
|---|---|---|
| 283 Members | 3o/oEm | rContribution |
| 7 Members | 5o/oEm | Contribution |
| 14Members | 9o/oEm | Contribution |
| 304Members |
| ollowing TUPE transfersfrom ntotheseschemes as follows: |
both Local Government and NHSv | ibrancei | smaintainingcontributi |
|---|---|---|---|
| SchemeName Local GovernmentPension |
Number ofActiveMembers | Em | ContributionRate |
| Scheme | 1 | 17.70% | |
| NHS Pension Scheme | 7 | 14.38% |
| Group | Group | Vibrance | Vibrance | |
|---|---|---|---|---|
| 2022 | 2021 | 2022 | 2021 | |
| â | I | € | t | |
| Within one year | 190,980 | 255,847 | 164,945 | 202,890 |
| Between two and five years | 414,225 | 463,706 | 400,890 | 437,671 |
| ln overfiveyears | 120,833 | 404,167 | 120,833 | 404,167 |
| 726,038 | 1,123,720 | 686,668 | 1,044,728 |
| 2022 | 2021 | |
|---|---|---|
| I | I | |
| Net expenditure | (267,531) | (977,393) |
| Depreciationoftangiblefixedassets | 155,325 | 171,333 |
| Loss on saleoftangiblefixedassets | 27,605 | |
| Netgainon investments | (9,295) | (121,413) |
| Amortisationofgrant | (8,000) | (8,000) |
| lnvestmentincome | (14,8111 | (13,140) |
| (lncrease)/decreaseindebtors | (335,695) | 638,014 |
| lncrease/(decrease)increditors | 2,934,877 | (445,484) |
| (Decrease)/increaseindefinedbenefitpensionliability | (200,3271 | 505,742 |
| 2,282,148 | (250,341) |
| ANALYSISOFCHANGESINCASH AND CASHEQUIV | ALENTS | |
|---|---|---|
| 2022 | 2021 | |
| f | f | |
| Increase/(decrease) incash | 1,925,149 | (361,598) |
| Netbank&cashat1April2021 | 635,325 | 996,923 |
| Netbank&cashat31March2022 | 2,560,474 | 635,325 |
| ANALYSISOFNETCASH BA | LANCES | |||
|---|---|---|---|---|
| At1April | Cashflow | Non-cash | At31 March | |
| 2021 | changes | 2022 | ||
| I | € | I | € | |
| Cash atbank and in hand | 635,325 | 1,925,149 | 2,560,474 | |
| 635,325 | 1,925,149 | 2,560,474 |